gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1b73aa2806b11eba
Response Measures
None
Receivership Details
Depositor recovery rate
67.4%
Date receivership started
1927-05-10
Date receivership terminated
1932-07-01
Share of assets assessed as good
52.3%
Share of assets assessed as doubtful
24.7%
Share of assets assessed as worthless
22.9%
Description
Articles state a federal receiver was appointed; no run or reopening mentioned.
Events (3)
1.May 18, 1907Chartered
Source
historical_nic
2.May 10, 1927Receivership
Source
historical_nic
3.October 19, 1928Receivership
Newspaper Excerpt
employed by the National Banking Department of the U. S. Government as Receiver of the First National Bank of Biwabik
Source
newspapers
Newspaper Articles (4)
1.October 19, 1928The Ely MinerEly, MN
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Article Text
CANDIDATE FOR PROBATE JUDGE DANIEL WAITE Daniel Waite, Candidate for Probate Judge of St. Louis County has been a resident and tax payer of this County for over 30 years and, although never before a candidate for public office, is being supported by many voters who feel that a change in this office is desirable. Mr. Waite promises that if elected he will inaugurate much needed reforms that will guarantee greatly reduced expenses in administering small estates and promptness in final settlements. His legal and financial experience have well fitted him for the duties of this office, having practised law in Duluth for many years and at present being employed by the National Banking Department of the U. S. Government as Receiver of the First National Bank of Biwabik.
2.October 26, 1928The Ely MinerEly, MN
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Article Text
# DANIEL WAITE
Daniel Waite, Candidate for Probate Judge of St. Louis County has been a resident and tax payer of this County for over 30 years and, although never before a candidate for public office, is being supported by many voters who feel that a change in this office is desirable.
Mr. Waite promises that if elected he will inaugurate much needed reforms that will guarantee greatly reduced expenses in administering small estates and promptness in final settlements. His legal and financial experience have well fitted him for the duties of this office, having practised law in Duluth for many years and at present being employed by the National Banking Department of the U. S. Government as Receiver of the First National Bank of Biwabik.
3.November 2, 1928The Ely MinerEly, MN
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Article Text
# DANIEL WAITE
Daniel Waite, Candidate for Probate Judge of St. Louis County has been a resident and tax payer of this County for over 30 years and, although never before a candidate for public office, is being supported by many voters who feel that a change in this office is desirable.
Mr. Waite promises that if elected he will inaugurate much needed reforms that will guarantee greatly reduced expenses in administering small estates and promptness in final settlements. His legal and financial experience have well fitted him for the duties of this office, having practised law in Duluth for many years and at present being employed by the National Banking Department of the U. S. Government as Receiver of the First National Bank of Biwabik.
4.November 2, 1928The Ely MinerEly, MN
Click image to open full size in new tab
Article Text
# DANIEL WAITE
Daniel Waite, Candidate for Probate Judge of St. Louis County has been a resident and tax payer of this County for over 30 years and, although never before a candidate for public office, is being supported by many voters who feel that a change in this office is desirable.
Mr. Waite promises that if elected he will inaugurate much needed reforms that will guarantee greatly reduced expenses in administering small estates and promptness in final settlements. His legal and financial experience have well fitted him for the duties of this office, having practised law in Duluth for many years and at present being employed by the National Banking Department of the U. S. Government as Receiver of the First National Bank of Biwabik.
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.
