Factbites
 Where results make sense
About us   |   Why use us?   |   Reviews   |   PR   |   Contact us  

Topic: Wildcat bank


Related Topics

  
  Money - Wikipedia, the free encyclopedia
Such organizations earned the nickname of "wildcat banks" for a reputation of unreliability and that they were often situated in far-off, unpopulated locales that were said to be more apt to wildcats than people.
Although stories about crooked banking practices are entertaining—and for that reason have been repeated endlessly by textbooks—modern economic historians have found that there were in fact very few banks that fit any reasonable definition of wildcat bank." The National Bank Act of 1863 ended the "wildcat bank" period.
Banks are limited in the amount of loans they can grant and thus in the amount of bank money (credit) they can create by both the net assets of the bank and by reserve requirements (M0).
en.wikipedia.org /wiki/Money   (2793 words)

  
 Wildcat banking - Wikipedia, the free encyclopedia
Wildcat banking refers to the practices of any unsound bank chartered under state law during the period of uncontrolled state banking (1816–63) in the United States.
The Wildcat banks distributed nearly worthless currency backed by questionable security (such as mortgages and bonds) and were located in inaccessible areas to discourage note redemption.
Wildcat banking was an important part of history.
en.wikipedia.org /wiki/Wildcat_banking   (274 words)

  
 Encyclopedia: Wildcat bank
There was also the provision that no bank should be established otherwise than under a general banking law, except that there might also be chartered a bank with branches without collateral security, the branches to be mutually responsible for each other's liabilities upon all paper credit issued as money.
The immediate result of this was a general law authorizing "free banks," passed by the first Legislature after the convention, and the "free bank era" that followed would seem to be one of the lessons of history.
This may be drawing it a little strong so far as the general conditions were concerned, but at any rate the "wildcat" banks and the speculators who made the most of them bought about a general derangement of money affairs and the distress that goes with an inflated, depreciated currency.
www.nationmaster.com /encyclopedia/Wildcat-bank   (439 words)

  
 [No title]   (Site not responding. Last check: 2007-11-05)
The term, "wildcat," as began to be applied during the late 1830's however, applied as much to financially irresponsible institutions such as "wildcat banks" as to oil or gas drilling.
WILDCAT -- "A wildcat venture, such as a wildcat oil well, is generally a speculative one.
The word 'wildcat' here comes from the term 'wildcat bank,' which originally referred to a Michigan bank that went bankrupt in the 1830s and had on its banknotes a prominent picture of a panther or wildcat." From the "Encyclopedia of Word and Phrase Origins" by Robert Hendrickson (Facts on File, 1997, New York).
plateaupress.com.au /wfw/wildcatt.htm   (209 words)

  
 [No title]   (Site not responding. Last check: 2007-11-05)
Numismatists and US historians frequently refer to wildcat mines, banks and oil when referring to those investments and institutions that did not have a business model consistent with sound investments, or where the existence of the mine, bank or oil well was fictional or intended to defraud the investor.
Understanding the remote nature of these banks is one clue to understanding the origin of the term 'wildcat' because during these times wildlife was quite common in the Eastern US and Midwest so that mountain lions, lynxes and bobcats were plentiful in those days, especially in remote areas where wildcat banks were located.
The system was very common during coin shortages when banks and their customers were forced to exercise their wits amidst an improvised local monetary crisis, and useful in that currency was exchanged for real goods and services until some catalyst prompted the demand for specie.
sds2000.org /wildcat_banks.html   (1257 words)

  
 BAI Online | Banking Strategies | March/April 1998 | Networking-Centric Banking
But banks intent on maintaining their stake in the payments system should not be guided solely by return-on-investment considerations.
During the presidency of Andrew Jackson in the 1830s, "wildcat" banks sprang up in the West to facilitate trade that was considered too risky for the established eastern banks to handle.
Banks have been slow to respond, either because of the difficulty of convincing customers to use the wallets, or simply due to their own inertia.
www.bai.org /bankingstrategies/1998-mar-apr/net-centric   (1789 words)

  
 wildcat bank --  Encyclopædia Britannica
The name wildcat is also used as a general term for feral domestic cats and for any of the smaller wild species of the cat family.
Banks drew on his hardscrabble childhood in working-class New England to tackle such difficult themes as rocky relationships between fathers and sons and racial...
A central bank is an institution, such as the Bank of England or the Federal Reserve System of the United States, that provides a number of...
www.britannica.com /eb/article-9076980   (736 words)

  
 Arizona Daily Wildcat - Bank robbery locks down Babcock - Monday, January 24, 2005   (Site not responding. Last check: 2007-11-05)
A video captured from security cameras shows the robbery suspect after entering the Wells Fargo Bank located at 1701 E. Speedway Blvd. He is described as 25-30 years of age, 5-foot-6 to 5-foot-8, 160-165 pounds, and was last seen leaving the area on foot wearing a camouflage military uniform.
A bank robbery forced Babcock Inn Residence Hall residents to go into lockdown Saturday afternoon after a man threatened to bomb the bank and was suspected to possibly be hiding somewhere in the residence hall.
Abu Shaheen said police informed her that the man who attempted to rob the bank also threatened employees with a bomb, which was another reason residents were instructed to stay inside their rooms.
wildcat.arizona.edu /papers/98/82/01_1.html   (533 words)

  
 Archives: Story
Certain of these private banks, especially in the private sector, printed bank notes in excess of the gold and silver reserve holdings for which the notes were supposed to be redeemable upon demand.
Many such unstable "banks of issue" arranged to have their notes distributed in the remote parts of the country, including early territorial Iowa, which, except for the small Miners Bank at Dubuque, had no banking houses, and where weak and even near-worthless currency might pass between unsuspecting settlers for months or even years.
Under these loose arrangements and in the absence of banks to handle certificates of deposit or demand payment bills, Galland was in a strong position to purchase half-breed land with company funds and keep title of some such properties, without transferring ownership to the company.
www.dailydem.com /articles/2004/08/06/news/news2.txt   (1230 words)

  
 History of Indiana, 1850 to 1860, Passing of the Old State Bank: "Wildcat" Banks
The State was a part owner in that bank, but through the institution ranks well in our history as a reputable one, objections to it had sprung up.
In the new constitution was inserted a section forbidding the State to be a stockholder in any bank after the expiration of the charter then existing.
In spite of the constitutional safeguards to "ample collateral security" under the control of State officers many of the bankers were irresponsible adventurers and a goodly percentage of these seem to have been deliberate rascals and grafters.
www.countyhistory.com /history/227.htm   (468 words)

  
 Wildcat bank - Encyclopedia, History, Geography and Biography   (Site not responding. Last check: 2007-11-05)
They flourished after the national bank was decommissioned.
Someone would start a bank in a small town, and when they acquired enough assets, they would up and leave town with the townsfolks money.
Wildcat bank and Economic history of the United States.
www.arikah.net /encyclopedia/Wildcat_bank   (108 words)

  
 Wildcat Creek. Maps of river and Maps to public access points and liveries.
The Wildcat Creek Foundation is a non-profit group, based in Lafayette, promoting responsible recreation and working to preserve the natural character of Wildcat Creek.
The best access is on the right bank, downstream of the bridge, and there is parking for two or three vehicles along the east side of the road on the north side of the bridge.
Wildcat Creek downstream of the confluence of the North and South Forks changes in character, and the creek's flow and width are nearly doubled.
www.indianaoutfitters.com /wildcat_creek.html   (2420 words)

  
 American Currency Exhibit: Civil War
Between 1837 and 1866, a period known as the "Free Banking Era," lax federal and state banking laws permitted virtually anyone to open a bank and issue currency.
By 1860, an estimated 8,000 different state banks were circulating what were sometimes called "wildcat" or "broken" bank notes.
The term "wildcat bank" referred to the remote locations of some banks, more accessible to wildcats than people.
www.frbsf.org /currency/expansion/text2.html   (104 words)

  
 Bank of America closing campus branch - November 18, 1998   (Site not responding. Last check: 2007-11-05)
Bank of America's "Wildcat Express" branch, 1710 E. Speedway Blvd., is closing its doors and moving all customer accounts to a branch at 2885 N. Campbell Ave.
While bank officials would not release any personnel information, they did say all employees at the University of Arizona-area branch will be offered positions at other offices.
Dave Howell, vice president of Bank of America, said the employees will be "absorbed" by other branches, which he said are prospering.
wildcat.arizona.edu /papers/92/61/11_1_m.html   (319 words)

  
 MONEY - THEN AND NOW - Print Version
Wildcat bankers were men of unscrupulous means who would obtain a State bank charter, issue notes and spend them and then do everything possible to keep from having to redeem them.
There was always a group of men who were pushing for Federal chartering of banks and they never missed a chance to try to discredit the State chartered "wildcat" banks.
Publications called "reporters" or "detectors" were printed listing descriptions of notes from failed banks or even descriptions of counterfeit notes for the benefit of merchants and bankers who were asked to accept out of town notes unfamiliar to them.
www.gold-eagle.com /editorials_03/laborde021803pv.html   (907 words)

  
 Canada: International Bank of Canada,   (Site not responding. Last check: 2007-11-05)
The International Bank of Canada was one of the more dubious of these enterprises - the classic example of a "wildcat bank." It had a valid charter but operated dishonestly by issuing large quantities of notes it had no intention of redeeming.
The bank obtained its charter in 1857, taking advantage of a provision in the legislation permitting banks to open in small towns without as much paid-up capital as those opening in cities.
Their denominations were indicated with five different coloured "protectors." Then, without warning, the bank closed on 27 October 1859, leaving more than $119,000 of its notes outstanding.
collections.ic.gc.ca /bank/english/esum93.htm   (217 words)

  
 Office of the Kansas Securities Commissioner
The banks hear of such cases because usually the victim draws money out of a bank to buy his wildcat mining shares or his stock in a lunar oil company, or whatever it may be.
Usually banks do hear of any stock-peddling operations that are going on in their localities, for the cash to pay for the stock comes out of a bank in one way or another.
Consequently the banks form an excellent detective force for the enforcement of the law; and the passage of the act was immediately followed by a great clearing out of wildcat concerns and their stock-peddling agents.
www.securities.state.ks.us /edu/bluesky.html   (3991 words)

  
 American Currency Exhibit: Historical Context: Westward Expansion   (Site not responding. Last check: 2007-11-05)
The instability of the Free Banking Era was especially obvious in the state of Michigan, where the State legislature passed the General Banking Law of 1837.
Some of these "broken banks" attempted to fool bank inspectors by keeping a barrel of nails with a top layer of gold coin as their "reserves." The Bank of Battle Creek, Michigan, had its teller, Tolman W. Hall, run out the back door whenever a noteholder would enter the bank.
These "wildcat banks" would often shuttle the same sack of coins from one location to another to convince the occasional bank inspector that the bank was solvent.
www.frbsf.org /currency/expansion/history/text2.html   (387 words)

  
 Bank   (Site not responding. Last check: 2007-11-05)
These privately owned banks could be started by anyone and were allowed to issue their own currency in order to foster trade in the local economy.
When times were hard and people went to these banks to redeem their bills for gold, they often found out the bank did not have enough to pay them.
The days of the "wildcat" banks came to an end during the Civil War when the United States government sought to control the economic panic and at the same time, find a way to finance the war effort.
www.cedar-rapids.org /ushers/ufhv_bank.html   (658 words)

  
 Historic Florence - Attractions - Bank of Florence   (Site not responding. Last check: 2007-11-05)
The upstairs portion of the bank was used as the home of the bank's manager, James Monroe Parker.
The bank building remained vacant for the next 30 years until it was started again in 1890 as a bank.
The bank building was passed down through family members of an early owner and bank planner, and eventually donated to the Florence Historical Foundation.
www.historicflorence.org /Attractions/bank.htm   (785 words)

  
 Epiphone Wildcat --> Info and Comparisons   (Site not responding. Last check: 2007-11-05)
A wildcat strike is a strike of workers that is not authorized by union leadership
Wildcat is often used in North America as a synonym for the Bobcat
The Wildcat was outperformed by the Mitsubishi Zero (its major opponent in the Pacific war) but held its own by out-surviving it (the Grumman airframe could take much more damage than its lightweight, unarmored Japanese rival) and out-gunning it.
www.crashdatabase.com /computers/40/epiphone-wildcat.html   (823 words)

  
 bank --  Encyclopædia Britannica
Banks accept deposits and make loans and derive a profit from the difference in the interest rates paid and charged, respectively.
Banks whose tops rise close enough to the sea surface to be...
Headquartered in Washington, D.C., the bank is the largest source of financial assistance to developing countries.
www.britannica.com /eb/article-9109396   (728 words)

  
 YourArt.com >> Encyclopedia >> money   (Site not responding. Last check: 2007-11-05)
On the other hand, according to Lawrence H. White's article in http://www.fee.org/publications/the-freeman/article.asp?aid=2046 "it turns out that “wildcat” banking is largely a myth.
The money value of the contract or bond is destroyed — taken out of circulation.
Bank savings are actually a kind of loans — savers loan their money to a bank at a low interest rate or merely in exchange for the benefit of convenience or its security (accepting that they lose a small amount of value to inflation).
www.yourart.com /research/encyclopedia.cgi?subject=/money   (2752 words)

  
 Villanova Basketball Tickets - Buy & Sell Villanova Wildcats Basketball Tickets   (Site not responding. Last check: 2007-11-05)
The Villanova Wildcats may be best remembered for an event from over 20 years ago, but the team is looking to carve a new chapter in team lore.
The Wildcats split their games between two venues, The Pavilion and the Wachovia Center, but even with two venues, college basketball tickets are hard to come by for Villanova games either at The Pavilion or The Wachovia Center.
Villanova Wildcats basketball tickets are a cherished item, and StubHub is here to get you a seat either at The Pavilion or the Wachovia Center as part of its overall selection of NCAA basketball tickets and sports tickets in general.
www.stubhub.com /villanova-basketball-tickets   (696 words)

  
 Bank Of America Home Link - Info Bank Of America Home Link   (Site not responding. Last check: 2007-11-05)
When bank of america home link thelast bank of america home link payment is made, the property bank of america home link changes hands.
To bank of america home link regard as belonging bank of america home link to or bank of america home link resulting bank of america home link from another: bank of america home link accredit, bank of america home link ascribe, assign, attribute, charge, impute, bank of america home link lay, refer.
Membership bank of america home link in the Federal Deposit Insurance Corporation is bank of america home link compulsory for all Federal Reserve member bank of america home link banks bank of america home link but optional for other banks.
bankofamericahomelink.azawia.com   (941 words)

  
 wildcat. The American Heritage® Dictionary of the English Language: Fourth Edition. 2000.   (Site not responding. Last check: 2007-11-05)
Issued by a financially irresponsible bank: wildcat currency.
Undertaken by workers without approval of the officials of their union: a wildcat strike.
To prospect for (oil, for example) in an area supposed to be unproductive.
www.bartleby.com /61/40/W0154000.html   (216 words)

  
 Port Huron Times-Herald - www.thetimesherald.com - Port Huron, MI   (Site not responding. Last check: 2007-11-05)
And with the opening of Wildcat Bank on Friday, banking days will be a regular activity at the school.
Seaway Community Bank sponsors the bank, which will be open once a month in the school's lobby for students to make deposits only.
The students interviewed for their positions last year, and they all worked together at the beginning of this school year to coordinate the grand opening.
www.thetimesherald.com /apps/pbcs.dll/article?AID=/20050928/NEWS01/509280314/1002   (657 words)

  
 Wildcat Cash-n-Stash Bank   (Site not responding. Last check: 2007-11-05)
The bank remains a success, as it provides nearly every service that a standard bank would, only with the convenience of students in their school.
The employees at the bank were interviewed for their desired position by employees at the Bank of Edmonson County.
Edmonson County Wildcat Cash-n-Stash Bank provides confidential and quality service, because after all, it is YOUR bank, and we wouldn't have it any other way.
www.edmonson.k12.ky.us /ECHS/school_bank/about.html   (171 words)

  
 Arizona Daily Wildcat - Of Legos, bank robberies and grizzly bears - Thursday, September 30, 2004   (Site not responding. Last check: 2007-11-05)
A bunch of bank robbers flood in and lock the door behind them.
They take my wallet, but that's okay because there's no cash in it anyway and I'm at the bank already, so canceling my ATM card shouldn't be a problem.
Luckily, though, the teller ducks and the bullet hits the computer, sending a huge power surge throughout all of the bank's computers and wipes out the negative balance I had come into the bank to settle in the first place.
wildcat.arizona.edu /papers/98/28/04_11.html   (672 words)

Try your search on: Qwika (all wikis)

Factbites
  About us   |   Why use us?   |   Reviews   |   Press   |   Contact us  
Copyright © 2005-2007 www.factbites.com Usage implies agreement with terms.