885. Bank of National City (National City, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 12, 1896
Location
National City, California (32.678, -117.099)

Metadata

Model
gpt-5-mini
Short Digest
76a2433d

Response Measures

None

Description

Multiple contemporary articles (Aug 12-13, 1896) report the Bank of National City, National City, CA, closed/suspended because it was unable to realize on securities. A mid-September notice (Sept 15, 1896) reports the bank as insolvent with a receiver appointed. There is no mention of a depositor run in the articles; the suspension appears driven by bad asset/collection problems and was followed by receivership.

Events (2)

1. August 12, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on securities / difficulty making collections; insufficient liquidity due to poor asset realization.
Newspaper Excerpt
The Bank of National City closed its doors this morning, ... on account of difficulty in making collections the concern was forced to suspend.
Source
newspapers
2. September 15, 1896 Receivership
Newspaper Excerpt
The Bank of National City, Cal, insolvent. Receiver appointed.
Source
newspapers

Newspaper Articles (5)

Article from The Topeka State Journal, August 13, 1896

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Article Text

San Diego Bank Fails. San Diego, Cal., Aug. 13.-The bank of National City has closed its doors, the officers stating that failure to realize on securities caused the suspension. The institution is a state bank with a paid in capital of $30,000.


Article from The Evening Times, August 13, 1896

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Briefsby Wire Mazie Leatherbury, aged thirteen. was drowned while bathing at White Haven, PM George Passack was instantly kitled in in "ad governor 1" 'anjui em full of a rock John Daly, under sentence of penal'servitude for lite in England for alleged treason, released aq noos IIIM Dr. Isaac Barber has been nominated for Congress by the First Maryland district Republican convention. L MoAlexander was arrested in Roanoke. Va., charged with having murdered Charles Dehart in Patrick county. Populists of the Sixth North Carolina district yesterday renominated W.F. Strowd for Congress by acclaination. John Ratchford of Green Ridge Pa., Was struck and killed by a Delaware & Hudson passengér train in Beranton. Pa: John A. Moon has been nominated for Congress by the Democrats of the Third district of Tennessee. He is for free silver. Lawrence J. Kennedy, a Pittsbrg machinist, committed suicide by taking laudanum, having become despondent through idleness. Peter Lairbourn of Scranton Pa., rendered insane by grief over the loss of his wife and infant child, was taken to the insane asylum. John T. Reed, aged thirty-four years. was killed by falling from a ladder at the Detrick fertilizer and chemical factory, Locust Point, Baltimore Henry Bach. aged seventeen years.and Julios Nuenthal, aged fifteen years. fell -sas Browning of year elevation us пмор terday and were severely hurt. The governor of Louisiana has notofied the State Department that he will take steps to procure a report upon the lynchIng of three Italians at Hahneville. La. The remains of a man and a woman were A M Mayne up Aid B 41 punoj The discovery has probably brought to light a double murder which occurred five 038 Tears CIVE Prospide sq persented SUM USUA V land to Capt. Nicholi, of the British steatner Scottish Prince, as a recognition of the rescue of the crew of the American schooner Elisha Gibbs. Sixteen prisoners escaped from the jall at Bowling Green, Ky.. yesterday andeleven of them are still at large. Four came back and surrendered of their ownaccord and one was captured. P C. Trusler was yesterday appointed receiver of the Union National Building and Loan Association of Indianapolis The association was one of the largest in the State. having assets of over $500,000. The Bank of National City, California, failed to open yesterday. The amount due depositors is 830 $58,830 and the other liabili ties are $5,000. The bank people say that their assets are sufficient to meet an claims. am and nos op MoH,, Supple For Henry Gombeske, thirty-one years old, was shot at Jersey City, Tuesday night. He om person oq woym usur eye "eip ABW question and who shot him was William Jambra. Frederick Hellmeyer. an employe of the Maryland Meter Company, was stabbed behind the left ear with a file and had his skull fractured with the same instrument. Edward Divine was arrested on the charge em 10 John Harrison, aged seventeen years, was instantly killed in a Pottsville, Pa., colHery A descending cage loaded with couplings toppled over when near the bottom, striking Harrison on the head, dashing his braisn out and mutilating his body. Rev. Father Traille the Euglish clergy man at the Episcopal Church, at Kenneth Square. Pa., astentibed fds congregation nasu ou MUS 94 4q Amoung tio ROQU Cupung Superal pue source ord *NOM qui JO American am no papers vided the people haddirst attended mass. Bart Thrasher. the Noted Alabama outlaw and murderer. has added another to his list of killings by shooting Deputy Sheriff Bass en of Bibb county. Elisha Thrasher was killed in February last by officers while resist I ing arrest, and Bart Thrasher has sworn to kill the officers engaged. John Sultas, employed in a Hazleton Pa. colliery was removing coal from the mouth of revolving screenwhen heslipped and was dragged partly into the aperture. Before the machine could be stopped both feet were torn off and his body twisted about the shaft While making her way through the kit chen of her home of Conyngham. Pa. yesterday. Annie Fink a nineteen-year #1 which V uo port 1113 paily plo nited. The blaze caught in her dress and she was soon enveloped in flames. and probably fatally burned. 1 Capt. Blanche Coxe of the Balvation Army. who willmake a thousand-mileto through Pennsylvania, Maryland and Delaware. OD horseback, with six women and one man assistant. has been unable to cure any of the York. Pa., churches and will have to speak at Highland Park. Frank Hayman of Shamokin: Pa., became a raving maniac as the result of injuries about the head that he sustained in be 8 ing thrown out of saloon on Friday last and the proprietor, his wife and his two brothers, have been arrested on the


Article from The San Francisco Call, August 13, 1896

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Article Text

NATIONAL CITY FAILURE, Inability to Realize Upon Securities Causes a Bank to Suspend. Doors of the Institution Are Closed, but Depositors Will Be Paid in Full. SAN DIEGO, CAL., Aug. 12.-The Bank of National City closed its doors this morning, and a note was posted on the door to the effect that on account of difficulty in making collections the concern was forced to suspend. The directors of the bank are W. C. Kimball, Flora M. Kimball, George W. Hale, C. B. Whittlesey, C. H. Sawyer and Peter Morse. President Kimbali and wife and George W. Hale of Malone, N. Y., are the heaviest S tockholders. The capital stock is $30,000, all paid, and there is a small surplus. President Kimball said to-day: "We closed because we found it impossible to realize upon securities. The bank has enough securities, if the market improves, to pay every creditor in full." From this it is believed the suspension will probably be permanent, though no one questions the solvency of the institution. Mr. Kimball is reputed to be worth $250,000. No uneasiness was noticeable here or at National City regarding the suspension. The last official statement of the condition of the Bank of National City to the Bank Commissioners, made on March 30, W as as follows: Resources-Other real estate, $17,661 26 in vested in stocks, bonds and warrants, $1150; loans on real estate, $33,47638; loans and discounts, $39,707 78; cash balances, $3448 29 due from banks and bankers, $9146 05; furniture, fixtures, etc., $1054 09. Total resources, $105,643 85. Liabilities-Capital paid up, $30,000; reserve fund, $11,549 82; due depositors, $58,830 58; due banks and bankers, $251 45; other liabilities, $5012. Totalliabilities, $105,643 85. The Bank Commissioners telegraphed to C. B. Whittelsy, the cashier, to take charge of the bank until the arrival of the commissioner at National City.


Article from The Herald, August 14, 1896

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Article Text

SAN DIEGO The National City Bank Closed-A Thief's Confession SAN DIEGO, Aug. 13.-The bank of National City closed its doors yesterday, and a notice was posted to the effect that bad collections caused the suspension. The bank is capitalized at $30,000. and the officers are Warren C. Kimball, president; S. S. Johnson, vice president; C. B. Whittlesey, cashier; C. H. Sawyer, assistant cashier. In speaking of the failure President Kimball said: "We couldn't negotiate securities. We have securities enough to pay off everybody in full if things pick up here so that money is to be had." The total indebtedness of the bank amounts to $45,000. almost entirely due the residents of National City. The body of Victor Stewart, aged S years, who has been missing for the past ten days, was found on the bay shore near National City yesterday. The little fellow was last seen alive fishing off one of the wharves in the city, and must have fallen into the bay. James E. Garratt, the man who was captured by the Mexican authorities near Ensenada Sunday afternoon when almost in the act of digging up the gold bar that had disappeared from an office in that town several months ago has made a full confession of the robbery, and says that he alone is the guilty per son. It is now believed that Garratt had committed the several other robberies that had occurred in Ensenada during the past few years. Company B of the national guard has gone into camp in the country for several days. In addition to their regular drills a series of athletic sports has been arranged for the men.


Article from The Progressive Farmer, September 15, 1896

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"SOUND MONEY" AND THE BANKS. The Manufacturers' Bank of West Duluth wentof business. Couldn't meet its liabilities-in "gold." La Maida Bros. & Andrale, bankers, New York and Philadelphia, failed. Couldn't meet $30,000 of liabilities with $60,000 of assets. State Land and Trust Co, Ogallala, Neb., capital $25,000, loans and discounts $58,665, gone under the gold standard. The Bank of National City, Cal, insolvent. Receiver appointed. Union National Bank, Sioux Falls, S. D, gone. The First National Bank of Beatrice, Neb., closed doors. Couldn't pay $110,000 of liabilities with $250,000 of assets. See! $25 of honest property assets, will not pay $11 of gold standard debt. Beatrice Neb, Savings Bank also gone under, with $290,000 gold standard dollars-all of the savings from the toil of the honest laborers of that vicinity. American National Bank of New Orleans closed. Funds found squandered. Officers arrested. Three more bank failures in New Orleans las week.