gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
92de454f3787988e
Response Measures
None
Description
Articles report the First National Bank of Denison closed and two banks were turned over to the state banking department.
Events (2)
1.August 1, 1892Chartered
Source
historical_nic
2.January 1, 1925Suspension
Cause Details
Uncertainty over surety/subrogation rights and probable withdrawal of large sums of public money after banks failed to obtain depository bonds; heavy withdrawals forced closure.
Newspaper Excerpt
The First National bank, of Denison, Ia., ... Five banks closed their doors during the day
Source
newspapers
Newspaper Articles (11)
1.January 1, 1925The State JournalFrankfort, KY
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Article Text
FIVE BANKING HOUSES CLOSE
Combination of Causes Results In Their Failure.
DES MOINES. lowa. Dec. 31 (By A. Pt A combination of causes. includ ing uncertainty as to subrogation rights of surety companys guaranteeing to public deposits the public with drawal of large sums of public money because of failure of banks to obtain depository bonds for public mon eye and shaken public confidence, was assigned by various officials to night for series of bank suspensions in today
Five banks closed their doors during the day and two of them were turned over to the state banking department which. it was announced will exert every effort to protect the rests of depositors. These two were the Commercial Savings and the Mechanics Savings Bank here. The others included the First Na tional Bank of Denison. lowa and private banks controlled by that institu tion in Dow City and Vail. The Commercial Savings Banks here was the largest institution to close its doors Officers declared they were unable to obtain surety for the $600,000. state funds on deposit and that withdrawal of this sum was in prospect with the changing administration in state treasury on Friday. The Mechanics Bank. closely allied with the Commercial. suspended business after experiencing a run during he first hour this morning. Reports of the suspensions caused runs upon other banks here throughout the day. but none was reported in
2.January 1, 1925The Washington PostWashington, DC
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Article Text
STATE FUNDS UNSECURED, TWO IOWA BANKS CLOSE
Uncertainty of Security Companies' Rights Among Causes Assigned.
DOORS OF 3 OTHERS SHUT
Des Moines, Ia., Dec. 31.-A combination of causes, including uncertainty as to subrogation rights of surety guaranteeing public deposits, the probable withdrawal of large sums of public money because of failure of banks to obtain depository bonds for publie moneys and shaken public confidence, was assigned by various of ficials tonight for the series of bank suspensions in Iowa today. Five banks closed their doors during the day and two of them were turned over to the State banking department, which, it was announced, will exert every effort to protect the interests of the depositors. These two were the Commercial and the Mechanics Savings banks The others include the First National bank, of Denison, Ia., and private banks controlled by that institution in Dow city and Vail The Commercial Savings bank here was the largest institution to close its doors. Officers declared they were unable to obtain surety for the $600 000 State funds on deposit and that withdrawal of this sum was in prospect with the changing administration in the State treasury on Friday The Mechanics bank, closely allied with the Commercial, suspended business after experiencing a run this morning. Reports of the suspensions caused runs upon other banks here throughout the day. but none was reported in diffeulties tonight. Robert Leach, superintendent of banking, is examining the condition of the banks. It was said progress was being made toward consolidations with other banks of the two which closed here.
3.January 1, 1925The Butte MinerButte, MT
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Article Text
String of Iowa Banks In Hands of Receiver
DES MOINES, Iowa, Dec. bination of causes, including uncertainty to subrogation of rights of surety companies guaranteeing public deposits, the probable withdrawal of large sums of public money because of failure of banks obtain depository bonds for public moneys and shaken confidence was by rious officials tonight for the series bank Iowa today. Five banks closed their doors during the and two of them turned over the state department, which, was announced, exert every effort protect interests of depositors. These two were the Commercial Savings and the Mechanics Savings banks here. The others included the First Na. tional Bank of Denison, Iowa, and private banks controlled by that institution in Dow City and Veil.
4.January 1, 1925Beatrice Daily SunBeatrice, NE
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Article Text
FIVE IOWA BANKS CLOSE DOORS IN DAY
Des Moines, tion of causes, uncertainty as to subrogation rights companies guaranteeing public posits, the probable withdrawal large sums of public money of failure banks to obtain itary bonds for public moneys shaken public confidence. signed by various officials for the series of bank suspension Iowa oday Five banks closed doors the day and two of turned over to the state partment which, was will exert every effort protect interest of depositors. One was Commercial Savings Mechan banks here The others included the ional bank of Denison. private banks controlled stitution in Dow City and The Commercial Savings here was the largest institution close its doors, Officers they were unable to obtain surety the state posit and that sum was in in the on Suspension of the Farmers' was also reported.
5.January 1, 1925The Salt Lake TribuneSalt Lake City, UT
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Article Text
FIVE BANKS IN IOWA CLOSED
Deposit Guaranties Uncertainties Contributing Cause; Runs Halted
DES uncer tainty subrogation rights surety deposits the probable public money of failure of banks obtain depository bonds public moneys shaken public confidence were signed by officials tonight for the series of bank súspensions today banks closed doors Ing the day and them turned the banking every effort protect the the and Savings First tional bank Denison Dow largest doors obtain for deposit that this prospect the tration in the treasury on bank allied the after experiencing during the first banks the but reported difficulties Robert declined the examined said banks, made banks the which
6.January 1, 1925The Macon NewsMacon, GA
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Article Text
Failure Of Iowa Banks Explained combination causes, including uncertainty rights public deposits. the probable with. drawal large sums money because of failure of banks to obtain bonds for pubmoneys and public fidence, assigned various ficials night for the bank suspensions in Iowa during their doors during the day and of them turned to the state banking department was announced effort protect the interests of depositors. These two Savings Mechanics Savings Banks The others the First Na. tional Bank of Dennison, Iowa and banks controlled that private stitution in Dow City and Vall.
7.January 1, 1925The RecordStockton, CA
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Article Text
FIVE BANKS IN IOWA ARE CLOSED DURING THE DAY
DES MOINES, Jan. 1.-A combination causes, including uncertainty as subrogation rights guaranteeing public deposits, the probable withdrawal of large sums of public money failure of banks obtain depository bonds public moneys and shaken public confidence, assigned by various officials night the series bank suspensions in Iowa terday. Five banks closed their doors during the day and two of them turned the bankexert every effort protest the interests deposiThese the Com* mercial Savings the Mechanics Savings banks here. others included First National bank Denison, private controlled by that institution Dow City and
8.January 2, 1925The Palm Beach PostWest Palm Beach, FL
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Article Text
FIVE IOWA BANKS CLOSE DOORS IN DAY
Des Moines, Iowa., Jan. 1.-A combination of causes, including uncertainty as to subrogation rights of surety companies guaranteeing public deposits, the probable withdrawal of large sums of public money because of failure of banks to obtain depository bonds for public moneys and shaken public confidence. was assigned by various officials tonight for the series of bank suspensions in Iowa, today. Five banks closed their doors during the day and two of them were turned over to the state banking department, which it was announced, will exert every effort to protect the interests of the depositors. These two were the Commercial Savings and the Mechanics Savings banks here. The others include: The First National Bank of Denison, Iowa, and private banks controlled by that in stitution in Dow City and Vail. The Commercial Savings Bank here was the largest institution to close its doors. Officers declared they were unable to obtain surety for the $600,000 state funds on deposit and that withdrawal of this sum was in prospect with the changing administration in the state treasury on Fri-
9.January 2, 1925Transcript-TelegramHolyoke, MA
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Article Text
IOWA BANKS STATE TAKES
Suspensions Attributed to Heavy Withdrawals of Public and Private Funds
DES Des Moines the Mechanics' and the Commercial have and over by nounced to prospective or actual heavy withdrawals of public and private funds The Banking Department unofcially informed that the National of Denision la. the Bank of Dow the Traders' Bank of la had been closed because of heavy The Savings public the first to efficers stating had been advised of of the funds because surety deThe Bank closely with the Commercial and held of funds which were not
The for withdrawal of to be to the Treasurer by
10.January 8, 1925Fergus County ArgusLewistown, MT
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Article Text
CLOSE IOWA
Des Moines Des. and the Mechanics banks, closed their Savings, the taken by today and were doors The the state was given in each cause actual heavy pective and private funds. public this department The unofficially ternoon bank of DenFirst National that the Bank of Dow City, nison, Ia., the bank of Vaile, the Traders' and because of been closed These three heavy said to be closely stitutions Robert Leach, superintendent lated, been advised had not their difficulties. the details
11.January 14, 1925The Bushnell RecordBushnell, NE
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Article Text
Bank Run Headed Off Denison, run on the Craw. ford county State bank, following blosing of the First National bank, stopped when high-powered automobile drew up the bank, and great stacks money said total thousand dollars were carried into the vaults.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
