First National Bank - Duluth, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3626
Charter Number: 3626
Start Date: January 1, 1893*
Location: Duluth, Minnesota (46.783, -92.107)

Metadata

Model: gpt-5-mini
Short Digest: 5781861f

Response Measures

None

Description

Article states the First National Bank of Duluth went to the wall in the panic of 1893, indicating a failure during the 1893 panic (macroeconomic shock). No mention of a depositor run in the article; no receiver explicitly named.

Events (2)

1. January 27, 1887 Chartered

Source: historical_nic

2. January 1, 1893* Suspension

Cause: Macro News
Cause Details: Failed during the nationwide panic of 1893; bank went to the wall (panic-induced failure).
Newspaper Excerpt: His bank went to the wall in the panic of 1893, and he lost all he possessed in the world.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1907 Oxford Eagle Oxford, MS

Article from Oxford Eagle, February 7, 1907

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Article Text

ONCE A MILLIONAIRE. Former Bank President Now Peddling Polish. Birmingham, Ala.-James Billings, formerly president of the First National Bank of Duluth, Minn., is in Birmingham, peddling polish to clean silverware, and endeavoring thereby to earn a living. The Salvation Army is also helping him, and he has spent several nights at their barracks when unable to pay for a bed. At one time Billings was worth nearly a million dollars. His bank went to the wall in the panic of 1893, and he lost all he possessed in the world. Later he went to British Honduras and began life over again, embarking in the banana business, where misfortune again overtook him. He worked his way back to the United States recently on a fruit vessel that landed at Mobile, and the Salvation Army assisted him to get from that city to Birmingham. Billings took malarial fever in Honduras and is a physical wreck.