Posts Tagged ‘Cheyenne National Bank’

As crowds gathered at the offices of one of Southern California’s leading financial institutions, the bank president, J. W. Collins emerged to reassure nervous depositors, explaining: “Owing to continued shrinkage in deposits and our inability to promptly realize on our notes and account, the bank is temporarily closed.” Merely a precaution, Collins soothed, “it is beyond question that depositors will be paid in full.”

Continue reading about the notorious 1891 San Diego Banking Scandal.