Yokohama Specie Bank
However, the Great Depression and mismanagement of the Seattle Specie Bank turned him from a millionaire to bankrupt. Like many Japanese American (and other American) bankers of the time, he had overextended, invested in stocks that plummeted, and made unsecured loans. He sought but failed to obtain a rescue from the Sumitomo Bank and the Yokohama Specie Bank. This was before the time of deposit insurance in the United States, and Furuya's failure was an economic disaster for Seattle's Japanese community, leading to the failure of many businesses along Seattle's Main Street.