8351. Commercial & Farmers National Bank (Baltimore, MD)

View Charter #1303 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
1303
Charter Number
1303
Start Date
December 10, 1903
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini
Short Digest
f29b5eb4

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Books examined

Description

Multiple articles (Dec 10–11, 1903) report a slight run over about ten days but the Clearing House furnished certificates, appointed an examiner, and the bank was to open for business — no suspension or permanent closure reported. Cause attributed to inability to realize on paper (adverse asset quality). President resigned.

Events (3)
1. June 17, 1865 Chartered
Source
historical_nic
2. December 10, 1903 Run
Cause
Bank Specific Adverse Info
Cause Details
Temporary embarrassment caused by inability to realize upon paper (loans/discounts) held by the bank.
Measures
Baltimore Clearing House agreed to advance funds via certificates; appointed national bank examiner W. A. Mason as representative; president Lawrence B. Kemp resigned; report/examination to reassure depositors and bank to open next day.
Newspaper Excerpt
There has been a slight run on the bank for ten days, and deposits, which on December 5 were $1,100,000, have been reduced some $200,000.
Source
newspapers
3. April 6, 1911 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (5)
1. December 11, 1903 New-York Tribune New York, NY
Article from New-York Tribune, December 11, 1903

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Article Text

BALTIMORE BANK TO MEET DEMANDS. [BY TELEGRAPH TO THE TRIBUNE.] Baltimore, Dec. 10.-Lawrence B. Kemp has resigned the presidency of the Commercial and Farmers' National Bank, because of criticism of the concern's management, and his successor will be chosen to-morrow. The Clearing House Association to-day adopted a resolution binding twentyfour banks in the association to furnish all money required to meet demands on the Commercial and Farmers' Bank. The Clearing House has appointed W. A. Mason, a national bank examiner, as its representative in the bank. There has been & slight run on the bank for ten days, and deposits, which on December 5 were $1,100,000, have been reduced some $200,000. The capital stock is $512,560. The stockholders may be assessed.

2. December 11, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, December 11, 1903

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Article Text

BANK IN STRAITS. But the Baltimore Clearing Association Aids It. Baltimore, Dec. 10.-The membership of the Baltimore Clearing Association late this afternoon agreed to advance any necessary funds in the shape of certificates to tide over the financial affairs of the Commercial and Farmers' National Bank of this city, a member of the Clearing House Association. Bank Examiner W. A. Mason is in charge of the bank as a representative of the Clearing House Association, and the resignation of Lawrence B. Kemp, president of the bank. has been tendered. The report of the Clearing House Committee, who have examined the books of the bank, will probably prevent a run on the bank to-morrow, and it is thought its affairs will be adjusted satisfactorily. Inability to realize upon paper held by the bank is believed to be the cause of the temporary embarrassment of the institution. The last statement submitted to the controller of the currency on Sept. 9, showed assets of $2,114,559.61, with liabilities (secured) of a similar amount. The bank will open for business tomorrow morning.

3. December 11, 1903 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, December 11, 1903

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Article Text

Clearing House to Help Bank Out. BALTIMORE, Dec. 11.-The membership of the Baltimore Clearing House association has agreed to advance any necessary funds in the shape of certificates to tide over the financial affairs of the Commercial and Farmers' National bank of this city, a member of the Clearing House association. Bank Examiner W. A. Mason is in charge of the bank as a representative of the Clearing House association. and the resignation of Lawrence B. Kemp. president of the bank, has been tendered. The report of the clearing' house committee, who have examined the books of the bank, will probably prevent a "run" on the bank today, and it is thought that its affairs will be adjusted satisfactorily to aN concerned.

4. December 11, 1903 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, December 11, 1903

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Article Text

Clearing House to Help Bank Out. BALTIMORE, Dec. 11.-The membership of the Baltimore Clearing House association has agreed to advance any necessary funds in the shape of certificates to tide over the financial affairs of the Commercial and Farmers' National bank of this city, a memher of the Clearing House association. Bank Examiner W. A. Mason is in charge of the bank as a répresentative of the Clearing House association, and the resignation of Lawrence B. Kemp, president of the bank, has been tendered. The report of the clearing house committee, who have examined the books of the bank, will probably prevent a "run" on the bank today, and it is thought that its affairs will be adjusted satisfactorily to all concerned.

5. December 12, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, December 12, 1903

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Article Text

OFFER TO AID THE BANK. Temporary Embarrassment of the Commercial and Farmers of Baltimore. (By the Associated Press.) Baltimore, Dec. 10.-The membership of the Baltimore Clearing House Assosiation late this afternoon agreed to advance any necessary funds in the shape of certificates, to tide over the financial affairs of the Commercial and Farmers National Bank of this city, a member of the Clearing House Association. Bank Examiner W. A. Mason is in charge of the bank as a representative of the Clearing House Association and the resignation of Lawrence B. Kemp, president of the bank, has been tendered. The report of the Clearing House Commission who have examined the books of the banks will probably prevent a "run" on the bank tomorrow and it is thought its affairs would be adjusted satisfactorily to all concerned. Inability to realize upon paper held by the bank is believed to be the cause of the temporary embarrassment of the institution. The last statement submitted to the Comptroller of the Currency on September 9th, showed assets of $2,114,559.61 with liabilities (secured), of a similar amount. The bank will open for business tomorrow :norning.