gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dbfa2a8788e4ccfd
Response Measures
None
Description
Article states the bank 'suspend business temporarily' but gives no follow-up on reopening.
Events (2)
1.December 30, 1904Chartered
Source
historical_nic
2.November 10, 1907Suspension
Cause
Macro News
Cause Details
Stringency of money matters in financial centers (national financial panic/credit stringency).
Newspaper Excerpt
The First National Bank failed to open for business Saturday morning. The cause is said to be due to the stringency of money matters in the financial centers, the board of directors of the institution deeming it to be to the best interest of the depositors that the bank suspend business temporarily.
Oklahoma Banks Close for Week.
Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest.
Concerted Action Taken.
It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.
EAGLE LAKE BANK SUSPENDS. First National Closed Its Doors-Second Bank to Close. Eagle Lake, Texas, Nov. 10.-The First National Bank failed to open for business Saturday morning. The cause is said to be due to the stringency of money matters in the financial centers, the board of directors of the institution deeming it to be to the best interest of the depositors that the bank suspend business temporarily. No statement has been given out, and will likely not be until the bank examiner arrives. The Vineyard, Walker & Co. Bank filed a voluntary petition in bankruptcy Friday. This leaves Eagle Lake with only one bank still doing business, the Eagle Lake State Bank.
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.
