Bank Failure Leaves Local Families Penniless
Seattle bank collapse hits White Bluffs residents, wiping out savings of local depositors.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
When the Northern Bank Trust company failed last week in Seattle, among their depositors were Mrs. D. J. Boag and her children, Floyd and Rozella Walker, who lost every dollar they had saved since going to Seattle last summer. They had deposited their last pay checks in the bank Saturday, and it closed the following Monday. The bank had been in operation only about ten years, but was believed by its depositors to be one of the strongest in the city. According to the Seattle papers depositors stand to lose close to half a million.
“They had deposited their last pay checks in the bank Saturday, and it closed the following Monday.”
Bank runs and the sudden loss of life savings were devastating realities for early 20th-century families before FDIC insurance. The story echoes the precarious nature of personal finance and the trust placed in institutions that can collapse overnight.
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