gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6293c6ea38d4067d
Response Measures
None
Description
Articles describe a temporary suspension pending action by bank commissioners; no receiver or permanent closure mentioned.
Events (1)
1.November 11, 1907Suspension
Cause
Correspondent
Cause Details
Lack of ready money due to farmers' inability to sell crops and inability to obtain cash/aid from correspondent banks in San Francisco; general financial stringency.
Newspaper Excerpt
The bank of William Collins & Sons of this city closed its doors this morning. ... The immediate causes of the suspension are the fact that ready money was not obtainable; the financial stringency, the inability of the farmers to sell their crops and the inability of the bank to secure aid from its correspondents in San Francisco and other cities.
Source
newspapers
Newspaper Articles (3)
1.November 12, 1907Los Angeles HeraldLos Angeles, CA
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Article Text
COLLINS' BANK OF VENTURA COMPELLED TO CLOSE DOORS By Associated Press. VENTURA, Nov. 11.-The bank of William Collins & Sons of this city closed its doors this morning. The statement is given out that the bank is taking advantage of the holidays and its future course will depend upon the decision of the bank commissioners, who will arrive here this evening. The bank of Collins & Sons has long been considered one of the most substantial institutions of this county. It has deposits amounting to over $400,000 from the farmers and business men of this section, but its asserts far exceed this amount. The immediate causes of the suspension are the fact that ready money was not obtainable; the financial stringency, the inability of the farmers to sell their crops and the inability of the bank to secure aid from its correspondents in San Francisco and other cities. Collins' bank was established more than twenty years ago. D. Edward Collins of the California bank of Oakland is its president and J. S. Collins of this city is cashier. I
2.November 12, 1907The Birmingham Age-HeraldBirmingham, AL
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Article Text
Bank Closes Temporarily. Ventura, Cal., November 11.-The bank of William Collins & Sons of this city closed its doors today and a statement was given out that the bank is tadking advantage of the day as a holiday. The bank of Collins & Sons has long been considered one of the most substantial institutions of this county. It has deposits of over $400,000 from the farmers and business men of this section, but its assets far exceed this amount. The immediate cause of the suspension is the fact that ready money was not obtainable, to the refusal of the farmers to sell their crop and the bank's inability to secure aid from its correspondents in San Francisco and other cities.
3.November 14, 1907The Free LanceFredericksburg, VA
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Article Text
Private Bank Closed. Ventura, Cal., Nov. 12.-The bank of William Collins & Sons closed its doors and a statement was given out that the bank is taking advantage of the day to day holiday. The bank has deposits of $400,000 and its assets far exceed that amount. The immediate cause of the suspension is lack of ready money owing to the inability of farmers to sell crops and to the bank's inability to get cash from its corres. pondents in other cities.
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.
