990. National Bank of San Diego (San Diego, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Start Date
November 14, 1891
Location
San Diego, California (32.715, -117.157)

Metadata

Model
gpt-5-mini
Short Digest
4019880d

Response Measures

None

Description

Contemporary articles report the National Bank of San Diego failed and that examiners were instructed to take charge (mid-November 1891) and the comptroller placed a receiver in charge (Dec 14, 1891). Newspapers mention suspension of payments several months later and court actions. No article explicitly describes a depositor run on this specific bank; failures and receiver appointment indicate suspension followed by receivership (permanent closure).

Events (2)
1. November 14, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank reported to have failed; interconnected affairs with Cheyenne bank and indications of insolvency and management problems (later revelations of fraud and suicides of presidents).
Newspaper Excerpt
the National bank, of San Diego, Cal., both of which failed during the week. (Controller instructed bank examiners to take charge)
Source
newspapers
2. December 14, 1891 Receivership
Newspaper Excerpt
The comptroller of the currency has decided to place a receiver in charge of the National Bank of San Diego, Cal., and leave open for a short time the question of the ability of the shareholders to restore the bank to a business basis.
Source
newspapers

Newspaper Articles (13)
1. November 15, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 15, 1891

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The Cheyenne National Bank Failure. CHEYENNE, Wyo., Nov. 14.-The liabilities of the Cheyenne National bank are $180,000, with assets of twice that amount and such men as John Sherman and John Jay Knox holding blocks of stock. The Cheyenne National bank will liquidate in full. The only bad feature is that the calling in of loans by the examiner or receiver will put a cramp on some of the local business men. WASHINGTON CITY, Nov. 14.-Lacy, comptroller of the currency, has instructed bank examiners to take charge of the Cheyenne National bank, of Cheyenne, Wyo., and the National bank, of San Diego, Cal., both of which failed during the week. SAN FRANCISCO, Nov. -Bradstreet's Mercantile agency reports twenty-eight failures in the Pacific coast states and territories for the week ending yesterday, as compared with twenty-five for the previous week and twelve for the corresponding week of 1890.

2. November 15, 1891 The Morning News Savannah, GA
Article from The Morning News, November 15, 1891

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BROKEN BANKS. Examiners to Take Charge at San Diego and Cheyenne. WASHINGTON, Nov. 14.-Mr. Lacey, controller of the currency, has instructed the bank examiners to take charge of the Cheyenne National Bank of Cheyenne and the National Bank of San Diego, Cal., both of which failed during the week. Their affairs are somewhat connected, as the same officers are practically in charge of both banks. Controller Lacey says he does not know whether the report that Senator Sherman is a stockholder of the Cheyenne bank is true or not. NO NEW RUN AT CHEYENNE. CHEYENNE, WYO., Nov. 14.-Controller Lacey wires from Washington that Examiner Griffiths is on the way here to take charge of the Cheyenne National bank, which failed yesterday. Business is progressing as usual, none of the other Banks being bothered, though all are fortified for the results. The liabilities of the Cheyenne National Bank are $318,000, with assets of twice that amount and such men as Senator John Sherman and, John Jay Knox of New York holding blocks of stock. At a meeting Thursday evening when other city bankers attended on invitation, the involved bank was found to be in excellent shape and in confidence that, there would be no rush the doors were thrown open at 10 o'clock Wednesday morning, only to be closed in an hour when the $45,000 cash on hand was exhausted. THREE HEAVY DEPOSITORS SCARED. Three heavy depositors who were expected to assist were the first to draw and took two-thirds of the sum available. This frightened the small depositors. The Cheyenne National Bank will liquidate in full. The calling in of loans by the examiner or receiver will put a cramp on some local concerns, as the bank was practically carrying a good many men. The bank started in 1886 and has always been conducted aggressively by young men.

3. November 20, 1891 Evening Star Washington, DC
Article from Evening Star, November 20, 1891

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WILL TRY TO RESUME.-The examiner in charge of the National Bank of San Diego, Cal., has telegraphed the controller of the currency to defer the appointment of a receiver for that bank, as the directors of the bank and a number of citizens are making strong efforts to rehabilitate the bank and have hopes of success.

4. December 15, 1891 Evening Star Washington, DC
Article from Evening Star, December 15, 1891

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A NATIONAL BANK IN TROUBLE-The controller of the currency has decided to place a receiver in charge of the National Bank of San Diego, Cal., and to leave open for a short time longer the question of the ability of the shareholders to restore the bank to a business basis.

5. December 15, 1891 Evening Star Washington, DC
Article from Evening Star, December 15, 1891

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(Situations) Page Page WANTED (Misceilaneous) WINTER RESORTS Page 10 GOVERNMENT RECEIPTS TODAY.-Internal revenue, $114,867; customs, $311,349. MR. A. J. HALFORD has been appointed to a position on the Washington staff of the United Press. PAID OUT FOR PENSIONS.-The Treasury Department 80 far this month has paid out $7,000,000 on account of pensions. THE REVENUE CUTTER BEAR, which has been cruising near the seal islands, has returned to San Francisco for the winter. BONDS REDEEMED-The amount of 41/2 per cent bonds redeemed yesterday was $20,100, making the total redemption to date $22,228,450, and leaving outstanding $3,276,250. ADJUTANT GENERAL KELTON, who has been seriously ill, has recovered sufficiently to justify the belief that he will be able to resume his official duties in a few days. MOVEMENTS OF NAVAL VESSELS.-A cablegram received at the Navy Department announces the arrival of the Chicago and Bennington at St. Thomas, West Indies, today on their way to the South Atlantic station. SECRETARY FOSTER has improved 80 much that Dr. Hamilton, who has attended him throughout his illness, left the city today for Chicago to resume his official duties there. Dr. G. L. Magruder will continue in the case. A NATIONAL BANK IN TROUBLE-The controller of the currency has decided to place a receiver in charge of the National Bank of San Diego, Cal., and to leave open for a short time longer the question of the ability of the shareholders to restore the bank to a business basis. COLLECTOR WARMCASTLE'S CASE.-The case of Collector Warmcastle of Pittsburg, charged with official misconduct, has been submitted to the President and it is understood be will act on it in a few days. The prevailing impression is that a change in the office will be made. THESE Saw THE PRESIDENT.-The President's callers today included Senators Barbour, Proctor, Washburne, Casey and Dawes, Representatives McKinney, Shouk, Taylor, Houk, Pickler and Walker, ex-Senator Blair, W. A. Abbott and S. V. Stillings of Boston and Hon. Thos. E. Miller and Collector Smalls of South Carolina with a delegation. CHINESE TO BE PHOTOGBAPHED.-Acting on the advice of the United States district attorney at Buffaio Acting Secretary Spaulding today instructed the collectors of customs at Buffalo, Ogdensburg, Suspension Bridge and Plattsburgh, N. Y., to cause photographs to be taken of all Chinamen arrested for unlawful entry into the United States from Canada. It t is expected in this way to establish a positive identilication of all Chinamen who return to this country after having once been deported to Canada as the country "whence they came." DISTRICT MILITIA OFFICERS.-The President today commissioned officers of the militia of the District of Columbia as follows: Daniel Macauley, to be inspector general with the rank of major; Harry B. Cilley, adjutant second regiment with rank of captain; George E. Pickett, first lieutenant company C, fourth battalion; Anton Stephan, first lieutenant company D, fourth battalion: Robert T. Smith, second lieutenant company A, second battalion; Frank R. Underwood. second lieutenant company C. fourth battalion, and D. L. Richmond, second lieutenant company D, fourth battalion. DISTRICT PATENTS.-Patents have been issued to residents of the District as follows: Harrison B. Brown, assignor of one-half to W. W. Dudley and F. L. Browne, lemon juice extractor; Edwin S. Holmes. jr., printing surface; William E. Schneider, two patents, assignor in both to M. Earle, trustee, Philadelphia, shutter for photographic apparatus and tripod; Andrew B. Schofield, assignor of two-fifths to J. Covert and A. M. Dewey. plate printing press; Nathan B. Clark and F. B. King, steam boiler; George R. Wilson, jr., assignor to John W. Ross, trustee, projectile with frangible cap; Theodore R. Timby. assignor to Natural Heating and Ventilating Company, Washington, apparatus for heating, cooling and ventilating. PERSONAL-H. B. Hayes of Richmond, Va., J. A. Beckwith of Ohio, H. B. Mooney of New York and S. Howard Roe of New York are at Willard's W. Reddall of New York, Jos. Marshall of West Virginia, W. H. Strickland of

6. December 15, 1891 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, December 15, 1891

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Will Appoint a Receiver WASHINGTON, Dec. 14.-The comptroller of the currency has decided to place a receiver in charge of the national bank of San Diego, Cala., and leave open for a short time the question of the ability of the sharebolders to restore it to a business basis.

7. December 15, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, December 15, 1891

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included are wheat, corn, oats, rye, barley, cotton and all other farm produce; also pork, lard and all other hog products. The bill provides that dealers in these futures and options shall pay annually a tax of $1000 and a further sum of 5 cents per pound on cotton and hog products and 20 cents per bushel on any other of the articles mentioned. LAW CASES DECIDED. In the case of Benjamin F, Brock vs John D. Bush, involving land in the Vancouver district, the Commissioner's decision has been affirmed. In the case of John M. King VS. John M. Vance, involving land in Lakeview district, Oregon, the appeal has been withdrawn. In the case of J. E. and H. Myers, involving land in Los Angeles district, the appeal has been withdrawn. SECRETARY FOSTER IMPROVING. Secretary Foster continues to improve slowly, but will hardly be able to leave his house this month. He has been compelled to cancel his engagement to speak at the dinner at the Boston Board of Trade Wednesday evening next, but arranged with Assistant Secretary Nettleton to rep resent him. General Nettleton left here for Boston this afternoon. MAJOR OVERMAN'S CASE. The Acting Judge Advocate-General has formulated a series of charges against Major Overman, based on the evidence of persons who accused him of official misconduct while on duty in Cleveland. Unless the charges are satisfactorily explained he will be court-martialed. PHOTOGRAPHING CHINAMEN. Acting Secretary Spaulding has instructed the collectors of customs at Buffalo, Ogdensburg, Suspension Bridge and Plattsburgh, N. Y., to photograph the Chinamen arrested for unlawful entry. It is expected in this way to establish positive identification. INVESTIGATION OF THE PENSION BUREAU. Representative Enloe of Tennessee has determined to offer a resolution looking to the further investigation of Commissioner Rauni's administration of the Pension Bureau, and will seek the appointment of secret committee inquiry. A RECEIVER TO BE APPOINTED. The Comptroller of the Currency has decided to place a receiver in charge of the National Bank of San Diego and leave open for a time the question of the ability of the shareholders to restore the bank to a busi ness basis. REFUNDING RAILROAD DEBT. In the Senate Frye introduced, with & number of amendments, the bill reported by him on March 2d last from the Select Committee, providing for refunding the debt of the Pacific roads. POSTMASTERS APPOINTED. A. P. Serrick was to-day appointed Post master at Campo, San Diego County, Cal. vice V. C. Livingstone, removed; M. Kinser at Montpelier, Stanislaus County, vice F. C. Kieffer, resigned. CULBERTSON WILL ACCEPT. Representative Culbertson said to-day that if he was nominated as Interstate Commerce Com missioner he will accept the position, but further declined to speak. SILVER PURCHASED. Two hundred and fifty thousand ounces of silver were purchased to-day at 96. PERSONAL MENTION. W. G. Morrow of San Francisco is at the Arlington Hotel.

8. December 15, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 15, 1891

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rate. The matter was referred to the attorney-general, and he recommends that the offer to compromise be refused. Acting Secretary Spalding said criminal proceedings will be instituted against the'offending persons. A RECEIVER FOR THE SAN DIEGO BANK. The comptroller of currency has decide to place a receiver in charge of the National bank of San Diego, Cal., and leave open for a short time the question of the ability of the shareholders to restore the bank to a business basis. SILVER PURCHASES. Two hundred and fifty thousand ounces of silver were purchased today at 96 cents per ounce.

9. December 15, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 15, 1891

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Receiver for a Bursted Bank. W ASHINGTON, Dec. 14.-The Comptroller of Currency has decided to place a receiver in charge of the National Bank of San Diego, Cal., and leave open for a short time the question of the ability of the shareholders to restore the bank to a business basis.

10. December 15, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 15, 1891

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Smuggled Chinamen to be Photographed. WASHINGTON, Dec. 14.-Acting Secretary Spaulding has instructed the collectors of customs at Buffale, Ogdensburg, Suspension Bridge and Plattsburg, N.Y., to photograph all Chinamen arrested for unlawful entry. It is expected in this way to establish positive identification. Newberger, Reiss & Co., of San Francisco, recently offered to compromise the government's claim against them on account of alleged entry of merchandise. An investigation resulted in the dismissal of the deputy collector of San Francisco, who was shown to have assisted in the entry of goods at less than the proper rate. The matter was referred to the attorney general and he recommends that the offer of compromise be refused. Acting Secretary Spaulding said criminal proceedings would be instituted against the offending persons. The comptroller of currency has decided to place a receiver in charge of the National bank of San Diego, Cal., and leave open for a short time the question of the ability of the shareholders to restore the bank to a business basis.

11. June 7, 1892 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, June 7, 1892

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COLLINS BUSTED BANK FRAUDS District Attorney Allen will Contest a Nice Point. United States District Attorney Allen will contest the payment of the $40,000 deposited in the National bank of San Diego, which suspended payments several months ago, on the ground that the money was a special deposit of city and county funde. He will also contest the num erous applications that will be made to recover money loaned to President Collins upon spurious certificates of deposit, given as guarantees to notes upon which the deceased borrowed money.

12. December 16, 1892 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 16, 1892

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New Suits Filed. Among the documents filed in the county clerk's office yesterday were the following: Anna M. Spence, executrix, and J. D. Bicknell VS. W. F. Huston and F. M. Egleston-Suit for the specific performance of a contract by payment of $1000, or foreclosure of the mortgage. In the United States circuit court a complaint was filed by Philip Mose et al. ve. F. N. Pauly, receiver. The plaintiffs sue for the recovery of judgment for $1430, alleged to be due for rent of rooms occupied by the defunct national bank of San Diego. Suit was also begun by the same plaintiffs against the same defendant for $912.62, alleged balance due of collections deposited in the bank, and to declare the same a trust.fund.

13. May 24, 1896 The Herald Los Angeles, CA
Article from The Herald, May 24, 1896

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AN AMERICAN RUG COMPANY Which Is Not Backed by San Diego Money Cashier Dare Left Baynclimate for His Health and Is Now In Business at Athens SAN FRANCISCO, May 23.-The sensational smash of the National Bank of San Diego, four years ago, which was quickly followed by the suicide of President Collins of the main concern, and also by the death by his own hand of President Clark of the branch bank at Cheyenne, is still fresh in the minds of the people of Southern California. D. D. Dare, the cashier of the concern, and against whom the bank held claims for $100,000, disappeared a few days before the collapse and was next heard from in Rome. Negotiations were had with the Italian government for Dare's extradition, when suddenly he again disappeared from public view. Once more attention is attracted to the financial wreck and ruin by the discovery of Dare in Athens, where he rests secure from extradition laws, there being none between that country and the United States. George Lycurgus of Honolulu has just returned here from Athens. He found Dare running a concern known as the American Rug company, with its place of business on the main thoroughfare of the ancient metropolis. While Dare was not talkative on the subject of his sudden departure from America, he said he had left San Diego solely on account of the climate, which did not agree with him. He denied that he took any funds of the bank and insisted that he had left San Diego without any money. He had been fairly prosperous in the rug business and said that he expected his family to join him at an early date. Dare said that owing to the climate he did not think he would ever return to America.