629. First National Bank (Phoenix, AZ)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
3054
Charter Number
3054
Start Date
April 1, 1884*
Location
Phoenix, Arizona (33.448, -112.074)

Metadata

Model
gpt-5-mini
Short Digest
8e4c7a882fb9216d

Response Measures

None

Description

No run is described. The April 1884 article states the recently started First National Bank at Phenix has closed because Congress prohibited national banks from making loans over $5,000 to one individual; stockholders chose to close rather than accept the restriction. OCR spelling 'Phenix' corrected to Phoenix. Closure appears voluntary in response to regulatory change (government action).

Events (3)

1. September 21, 1883 Chartered
Source
historical_nic
2. April 1, 1884* Suspension
Cause
Government Action
Cause Details
Congress prohibited national banks from loaning more than $5,000 to one individual; stockholders closed the bank rather than operate under the restriction.
Newspaper Excerpt
The First National Bank, recently started at Phenix, has closed. The reason assigned is that Congress prohibited national banks from loaning more than $5000 to one individual, and the stockholders were not willing to be so cramped in their operations.
Source
newspapers
3. April 7, 1884 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Weekly Phoenix Herald, October 4, 1883

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Article Text

The Jewish New Year begins next Monday J.Prent of Preseott,is at the Pl cen nix Hotel. S. L. Trais A., is the Bank Exchange WassA The flour mill is running almost night and day on orders. to please his patrons with excellent music. Hon. A. C. Baker's residence is ready for the plasterers. The lathers will begin work on the new bank to-morrow. R. Gartner has sold out his stock and business to J. 11. McNeil. Our livery stables seem to be dos ing a brisk business. S. E. Patten is pushing his extensive tenant building to an early coms pletion. Ganz, of the Bank Exchange, has just received a fine line of imported cigars. A gang of counterfeiters have been unearthed in San Francisco and Oakland. We notice grain coming in to market more freely the past few days. The quarantine has been raised at the residence of Mr. George Brown and he is again on the street. A man styling himself John F. Jones committed suicide in Pre cott on Tuesday last by taking laudanum U. S. Assistant Marshal J. W. Evans arrived this morning and will return to Tucson with Wilson, the alleged counterfeiter. According to the Tucson Citizen we understand that L. Zeckendorf has made an assignment. W. Zeckendorf being the assignee. The tardiness with which wa'er has reached town was owing to a break in the dam on the Maricopa Canal at the point where the water is taken out. The establishment of the First National Bank of Phoenix has qui-tly been under way for the past three months. It will be open for business early in November. Mr. Jos. Campbell,the well known attorney waseraised 10 the dignity of "pa" last night and the stran_er is of the female persu sion Briefs arenowhere tosday in the law office of Cox & Campbell. An order of the court has been received for the drawing of d U. S. Grand Jury which will meet on Mon day October 8th, and for a U S. Trial Jury to meet Wednesday Oct. 10th. Go to the HERALD office for first class job work and office statio ery in the Ho DER PATENT BLOTTER, the neatest and cheapest arrangement of the kind in the market. Mr. M. W. Kales, adminis rator of the Bryan estate is getting things in shape for an early and satisfact. ory settlement of the business. Mr. Kuriz showed us last evening some han Isome sle eve buttons which he had turned out of grease wood and catsclaw. The wood polishes up handsomely and is very prettily marked. The appraisers of the Bryan estate Messrs. Wm. Isaac, Wm. Ruff and J L. B. Alexander are at work maks ing valua ions of the various ranches and other property "Buckie" O'Neil,well known here recently met with a mishap at Peach Springs by which his collar bone was broken Buckie was probably trying to shoulder the Peach Springs Champion. The laying of the lower floors of the new court house began to-day. The walls are about finished to the second story and work has begun on the second story of the jail Mr S. E. Patien is crowding the carpenter work with his usual energy. A shooting scrape took place e Wednesday at a Mexican ball held n in the new Reghetti building on Monroe street. We have not learned whether anvone was hurt or not an the particulars are kept remarkably quiet so far. 1: The appraisers of the Eryant estate a Messrs. Wm. Isaac, Win. Ruff and J.L B. Alexander have nearly cor pleted their duties in that line has been no light task, it having n occupied their for the past three or four days. Fredrick & Hill have just eceived le wo fine nickel mounted S oves for ( he school house and two more are c follow immediately. They will lso furnish the churches ith the ame stoves. They are also receiva fine lot of parlor stoves, es Mr. Wilkin of Tueson arrived


Article from The Arizona Champion, April 26, 1884

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Article Text

The First National Bank, recently started at Phenix, has closed. The reason assigned is that Congress prohibited national banks from loaning more than $5000 to one individual, and the stockholders were not will ing to be so cramped in their operations. A new bank will be started in Phenix immediately with M. H, Sherman as President.