First National Bank (Juneau, AK)

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Episode Information

Episode UID
511701339
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
51170 national
Charter Number
5117
Start Date
July 12, 1911
Location
Juneau, Alaska

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0e8c887d9b10e9bf

Response Measures

None

Events (4)
1. April 4, 1898 Chartered
Source
historical_nic
2. July 12, 1911 Other
Newspaper Excerpt
W. R. Goodhart, a national bank examiner, ... found that the First National Bank of Juneau lacked a good deal of having sufficient security for the government money on deposit there. He demanded an immediate adjustment, otherwise he would close the bank. ... Mr. Bradley concluded to take over the business of the bank and save it from collapse.
Source
newspapers
3. March 6, 1933 Suspension
Cause
Government Action
Cause Details
Banks closed in compliance with President Roosevelt's proclamation (national banking holiday) and concurrent territorial proclamation.
Newspaper Excerpt
In compliance with the order both B. M. Behrends Bank and the First National Bank posted notices on their doors that all business would be suspended until next Friday morning.
Source
newspapers
4. March 10, 1933 Reopening
Newspaper Excerpt
Our banks will re-open next Friday, unless, of course, the President should before that time order the holiday continued.
Source
newspapers

Newspaper Articles (5)
1. July 12, 1911 Douglas Island News Douglas, AK
Article from Douglas Island News, July 12, 1911

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Article Text

The First National Last week there was a flurry in bank matters in Juneau that had a very serious look to it. W. R. Goodhart, a national bank examiner, dropped in from Washington, D. C., and found that the First National Bank of Juneau lacked a good deal of having sufficient security for the government money on de posit there. He demanded an immedi ate adjustment, otherwise he would close the bank. Gov. Clark asked him to delay action until he could see Mr. F. W. Bradley at Treadwell. After in vestigating the matter Mr. Bradley CODcluded to take over the business of the bank and save it from collapse. The new management is represented by a board of directors consisting of Mr. Bradley, Henry Shattuck, George F. Miller, John Reck and P. H. Fox. The First National was organized about a dozen years ago by Mr. C. M. Summers and associates. Mr. Sum. mers, as president and manager of the institution, became interested in the promotion of various Alaskan enterprises, among which were the Ketchikan Light & Power Company, the Cor dova Water & Light Company and the Alaska Supply Company, the latter of Juneau. Funds of the bank were invested to such an extent that the institution was no longer sound, a fact the examiner quickly discovered. Juneau people are not only pleased that a collapse was averted, but be. cause they know that the bank will now be placed on a perfectly safe footing. Mr. Bradley's large interests in the neighborhood led him to make the investment. He said to the writer: "A payroll will make Juneau a prosperous town-and that it will soon have." A German depositor, hearing that the bank was unsafe, rushed up to the cashier's window and shouted: "I vants my moneys!" "All right," said the cashier, "sign that check and you shall have it." As the cashier began to count out the amount of the German's balance, the excited man volled his eyes and exclaimed, "Oh, haf you got him?" "Sure," said the cashier. "Vell," said Dutchy, as he picked his hat off the floor and started for the door, "dat's all right, den. You schust keep him." And so the panic was averted.

2. March 6, 1933 The Daily Alaska Empire Juneau, AK
Article from The Daily Alaska Empire, March 6, 1933

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Article Text

BUSINESS HERE NORMAL DESPITE BANKS' HOLIDAY Presidential Proclamation Mandatory and Local Banks Are Closed Business in Juneau today was proceding normally without regard for the temporary holiday observed by both local banks, effective today and running until Thursday night, in accord with the proclamation issued Sunday night by President Roosevelt. Its provisions are mandatory. Previous to the Presidential order, Gov. George A. Parks, after several hours' conference with members of the Alaska Legislature Saturday, and with local bankers, had issued a proclamation declaring a Territorial banking holiday, optional with the individual banks, for a period of three days, beginning this morning. It Is Superceded The Governor's proclamation, however, is superceded by the one issued by President Roosevelt. And in compliance with the order both B. M. Behrends Bank and the First National Bank posted notices on their doors that all business would be suspended until next Friday morning. In the meantime, the Alaska Legislature moved to enact a law which would empower the Territorial Banking Board to take action to protect the Territorial banks from any adverse affects that might result from banking holidays and restricted withdrawals in the States. The Territorial system, it was pointed out, is so intimately connected with that of the Pacific Coast States that any interruption to or disorganization of the banks there inevitably was reflected on the banking institutions here. Bill Is Introduced To safeguard local interests effectively, therefore, a measure was prepared by Attorney General James S. Truitt and was introduced in both branches this afternoon, by Senator L. C. Hess, Fairbanks banker, in the Senate and Repre(Continued on Page Eight)

3. March 6, 1933 The Daily Alaska Empire Juneau, AK
Article from The Daily Alaska Empire, March 6, 1933

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Article Text

sentative Warren A. Taylor, Cordova attorney, in the House. It authorized the Territorial Banking Board to declare bank holidays, during emergencies not to exceed five days in length during which time the banks can remain closed in their own discretion. It would also empower the Board to permit banks to restrict withdrawals of funds for a 90-day period and "such further period or periods as the Board may deem expedient." Local Situation Excellent The entire Alaska banking situation is declared to be excellent. The present holiday, and the measures proposed in the bill now pending in the Legislature, are for the express purpose of keeping it that way, and to make it possible to protect the interests of depositors in Territorial banks. "There is no cause for any uneasiness on the part of Alaskans, and particularly of Juneau," declared B. M. Behrends, President of Behrends' Bank, and S. B. Pope, Executive Vice-President of the First National Bank, in a joint statement issued today. "We have closed our respective institutions for four days as required by the proclamation of President Roosevelt. We regard this step as one of the greatest importance to the whole country and applaud the statesmanship and vision that it evidences. "Locally, such a step would not have been essential to safeguard the interests of the public but for the suspensions of ordinary banking business in the States generally. But in view of the current national suspensions of banking operations, it would have been unwise for Alaskan banks to continue unrestricted operations which, naturally, would have led to withdrawals from the States by persons and institutions whose funds are tied up in their own communities. Will Reopen Friday "Our banks will re-open next Friday, unless, of course, the President should before that time order the holiday continued. The insti-

4. March 6, 1933 The Daily Alaska Empire Juneau, AK
Article from The Daily Alaska Empire, March 6, 1933

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tutions are sound and the interests of our depositors are thoroughly protected, and will be at all times," the statement declared. Local business houses were doing a normal business. They were accepting checks in payment of accounts and for purchases, and cashing them for customers where it was necessary. "There is no reason for anyone to be alarmed about the local situation. The banks are sound and the finances above risk," declared John W. Jones, President of the Chamber of Commerce. "The Chamber and its members, appreciating the need for protecting local depositors from the effects of the abnormal situation that exists in the States, approve the banking holiday as being the best and most available means of protection," he declared. Proclamation of Parks The Governor's proclamation stressed the safety of Alaskan banks and emphasized the fact that the holiday was caused by suspensions and legislation in the States, particularly on the Pacific Coast. The proclamation follows: "Whereas, a majority of the states have declared holidays during which all banking institutions may temporarily suspend business pending the enactment of necessary legislation to meet the existing emergency and since the legislation that has been enacted in the several states directly affects the banking institutions of the Territory, it must be followed by similar action on the part of the Territorial Legislature which convenes on March 6th. The Banking Board deems it necessary to pursue the course followed by the several states and provides a period of three days beginning Monday, March 6th, during which period all Territorial banks may remain closed. "This action by the Banking Board is in conformity with the procedure adopted in a majority of the States and is necessary only because of the action taken by them and to permit our Legislature to enact remedial legisaltion. "Therefore, I, George A. Parks, Governor of the Territory, in conformity with the decision of the Banking Board, do declare the period of three days beginning Monday, March 6vt, as a banking holiday during which all Territorial banks may remain closed."

5. March 9, 1933 The Daily Alaska Empire Juneau, AK
Article from The Daily Alaska Empire, March 9, 1933

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Article Text

CHAMBER GIVES LOYAL SUPPORT TO FINANCIERS Overflow Meeting Today Greets Bankers-Several Make Talks The business and professional men of Juneau today, through the Chamber of Commerce, filled the luncheon room of Bailey's Cafe to capacity to join in paying tribute in to local banking institutions whose soundness they exhibited unbounded confidence. The soundness of the banks and the community is coincident, it was pointed out of J. A. Hellenthal. As long as Juneau is sound, as its industries are sound, and its properties sound, and they are extremely so, the banking institutions will be likewise and in the same degree, he declared. Breaks Year's Record All attendance records of the year were broken by today's attendance of the Chamber. The luncheon room accommodations were exhausted, almost all the booths occupied and those unable to find room in either overflowed to the counter. B. M. Behrends, President of the bank bearing his name, and Samuel E. Pope, head of the First National Bank, said they expected these institutions would be open for limited operations tomorrow. Both emphasized is was not possible for any local bank to function normally as long as the banks of the rest of the country are shut down, or operating on a basis of limited withdrawals. Pay Roll is Assured Mr. Pope formally announced that the monthly pay roll of the Alaska Juneau will be taken care of as usual. It might be that it would be necessary to delay it a he added, due to few days, the in sit- the uation that had developed States, but not longer than that By an enthusiastic vote, the Chamber adopted a resolution expressing its complete confidence in the financial integrity of the two banks and their ability to care for the needs of the community. and of the integrity and capabilities the personnel directing their operations. Hess Explains Legislation Senator Luther C. Hess, whose Bank Stabilization Act has just passed both branches of the Legislature, explained briefly the necessity for such legislation and how that necessity had arisen from the serious situation that has developed in the States. The banking crisis in the States, he pointed out, had made the nation-wide banking holiday necessary. The extent of its success depended largely upon the measures taken to apply to the banking system after the holiday period expires. All Alaska banks, Mr. Hess said, have funds invested in securities and loans. Due to these investments, it is naturally not possible for them to pay out all deposits at any given time. Nor would they ever be required to do SO except due to conditions of fear based on panic psychology rather than good business sense and reasoning. Empowers Banking Board The measure introduced by him gives the Territorial Banking Board dethe authority needed to protect positors and banks from a situation of that kind. It is purely will emergency legislation and never be used, except in emergency cases. He modestly rejected any credit for the measure. It is almost identical, he said, with the Washington State Law and the few changes made in it were evolved by he a legislative committee of which was but one member. Senator Hess predicted that the (Continued on Page Three)