Bank of Commerce - San Francisco, CA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: June 22, 1893
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: 3c5bcc5b

Response Measures

None

Description

Multiple newspapers (dated June 22, 1893) report the Bank of Commerce, San Francisco, 'closed its doors' or 'suspended' with a notice saying the suspension was temporary and depositors would be paid in full. The closure appears tied to general banking distress on the Pacific coast (other banks failing and heavy withdrawals), not to a discrete misinformation event or an announced receivership. No article explicitly reports a permanent failure or assignment of a receiver; language indicates a temporary suspension and intent to pay depositors, so classified as suspension_reopening.

Events (1)

1. June 22, 1893 Suspension

Cause: Local Banks
Cause Details: Closure occurred amid wider Pacific coast banking failures and heavy withdrawals; other local banks' failures and runs spurred precautionary suspension/temporary closure of the Bank of Commerce.
Newspaper Excerpt: The Bank of Commerce closed its doors this morning. A statement on the door said that the suspension was only temporary, and that the depositors would be paid in full.
Source: newspapers

Newspaper Articles (5)

1. June 23, 1893 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, June 23, 1893

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FAILURES. Los ANGELES, Cal., June 22.-The financial atmosphere seemed to be clearing today. The banks have received large consignments of cash from the north, and are prepared to meet all demands. The excitement has subsided considerably, and the runs on the banks were much less violent than yesterday. POMONA, Cal., June 22.-The People's bank has suspended. WASHINGTON, June 22-Extensive shipments of money, telegraphed from New York to San Francisco, were made today by direction of United States Treasurer Morgan. The bank failures of yesterday on the Pacific coast have evidently spurred the banks to increase their supply of ready money to meet any emergency that might arise. NEW York, June 22.-The failure of Henry Segelton & Co., dealers in tea and coffee, is announced. No statement is obtainable. RIDGWAY, Pa., June 22.-The Ridgway bank, a private concern, has suspended. The assets are estimated at $364,000, and the liabilities at $216,000. GREENVILLE, Mich., Jane 22.-The City National bank was closed this morning by order of the bank examiner. CHICAGO, June 22.-Baird & Bradley, the well known real estate firm, have assigned. The assets are placed at $600,000 and the liabilities at $400,000. SANTA ANA, Cal.. June 22.-The First National Bank and the Commercial bank of this place did not open their doors this morning. Both are declared to be solvent and able to pay depositors in time. PHILADELPHIA, June -The board of managers of the Reading railway, at today's meeting, decided to abandon the rehabilitation plan. An official of the company said that a foreclosure of the first mortgage was now inevitable. KEOKUK, Iowa, June 22.-0u application of the United States Trust company of New York, holding a mortgage for $2, 750,000 on the road, the federal court appointed John F. Baruard, ex-president of the Ohio and Mississippi, receiver for the Omaba and St. Louis railway. running from Council Bluffs to St. Louis. The road is 145 miles long, and rans from Pat. terson Mo., to Council Bluffs, Iowa. Its general manager is F. M. Gault of Council Bluff. PERU. Ind., June 22.-J. D. Cole, the millionaire brewer of this city, an equal partner in the firm of Crane & Co., the Cincinnati lumber firm which assigned on Wednesday, says that a disagreement with his partner caused the failure. The liabilities are given as $150,000 and the assets as $400,000. Mr. Cole is the princicreditor. Some Huntington (W. Va.) people are affected, however, the creditors in that vicinity being involved to the aggregate amount of $75,000. NEW YORK, June 22-Suit will be brought against the American Banker of this city for publishing under the heading "Closed and Liquidated Banks" the name of the Bank of Commerce of Chicago. The statement caused a run on the bank, which was in good conditian. It will sue for $100,000 damages. SAN FRANCISCO, June 22.-The Bank of Commerce closed its doors this morning. A statement on the door said that the suspension was only temporary, and that the depositors would be paid in full. NASHVILLE, Tenn., June 22.-The well known grain firm of B. Rhea & Son has gone into liquidation. The debts of the firm are about $110,000, which has been secured by the transfer or property of the firm in amounts satisfactory to the creditors. NEW YORK, June 22.DD McD. White of the Consolidated exchange has announced his inability to meet his contracts. BOSTON, June 22 -The contractors and builders Creesy & Noyes, and Benuing C. Noyes & Co., furniture manufactures, have assigned. They are involved as indorsers on the paper of the Little Kanaw. ha Lumber company, of which Creesy was president, and for which a receiver was recently appointed. No statement was made. GREENVILLE, Mich. June 22.-The City National bank suspended this morning and was taken possession of by the bank examiner, The failure is due to a steady run since the first of the month. Inability to negotiate loans embarassed the bank, The deposits are $210,000 and the assets $312,000.

2. June 23, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 23, 1893

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Bank Failures in California. SAN FRANCISCO. June 22.-The Bank of Commerce, of this city, closed its doors this morning. A notice on the door stated that the bank was temporarily closed. Dopositors will be paid in full. The First National Bank and the Commercial Bank of Santa Ana did not open their doors this morning owing to heavy withdrawals of deposits and inability to collect fast enough. Both are declared to be solvent, have ample assets and can in time pay in full. The People's Bank, of Pomona, this morning posted this notice on its door: "Owing to the existing financial stringency the board of directors of this bank have decided to temporarily close its doors. Depositors will be paid in full." At Los Angeles to-day everything was quiet and peaceful in banking circles. There is but a slight run on the LosAngeles National Bank. The line of depositors was greater than that of the withdrawers. It was quiet at all the other banks.

3. June 28, 1893 Watertown Republican Watertown, WI

Article from Watertown Republican, June 28, 1893

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A 5-YEAR-OLD son of William Atherton, of Guthrie, O. T., while playing the about some building stone, pulled pile down on himself and was killed. ANDY MULDOON, an oil well shooter, was hauling 200 quarts of glycerine to Guffey Station, Pa. The wagon was overturned and an explosion ensued, which left nothing of Muldoon and his horses but shreds of flesh. PRINCESS EULALIA has presented to Robert A. Parke of the Pennsylvania Railroad, a beautiful and costly dagger, highly ornamented and inlaid with jewels. Mr. Parke had personal charge of the train in which the Princess traveled. A NEW YORK dispatch says that Mrs. Eleanor Fletcher Bishop, the mother of the late Washington Irving Bishop, the famous mind-reader, masannounced her marriage to Lucius Langdon Nicholas, whoi is said to be a great-great-grandson of an emperor of Russia. JOHN CRAMER and Charles Kennel tempted to drive across the tracks of the Reading Railroad Company at Philadelphia in front of an express train. The engine struck their wagon, demolishing it and instantly killing Cramer. Kennel's leg was broken and he was terribly bruised. MGR SATOLLI, papal delegate, is in St. Paui. THE People's Bank at Pomona, Cal., has closed. CONGRESS will be asked to establish a national board of health. THE Bank of Commerce at San Francisco has closed its doors. THE First National Bank of New Whateom, Wash., has failed. A RECEIVER has been appointed for the Omaha & St. Louis Railroad. THE armored cruiser Maine was launched at Brooklyn navy yard on June 22. LETTERS of credit on Europe SO far are not more than 20 percent of the amount last year. THE City National Bank of Greenville, Mich., has failed. The deposits are $210,000. A CORRESPONDENT in Rio Janeiro telegraphs that the Vatican envoy there has been removed. TYPUS FEVER has broken out in the garrison at Munich. It is due to the quality of the food. THE Reading and Grand Trunk roads have formed a close traffic arrangement. The alliance is important. WILLIAM KLINE, of Brightwood, Ind. was murdered while asleep at his home. A hatchet was the weapon. ALNIN G. CLARKE, missing from Home City, O., has been found in Chicago. Creditors will be paid in full. BURGLAR HENDERSON has confessed to the murder of John Tarpin at Haughville, Ind. He is under arrest. POPULIST railway commissioners in Kansas are preparing for an onslaught upon freight tariffs in that state. DECATUR'S grand jury caused surprise by returning no indictment against the lynchers of Sam Bush, the negro. THE Rev. Rodney Edwards, formerly pastor of Trinity Church in San embez- Francisco, was arrested charged with zling $1,200 trust funds. IT is said Justice Fitzgerald, of the California supreme court, will be named by Gov. Markham as United States senator to succeed Mr. Stanford. SEWARD A. SIMONS, a lawyer of Buffalo, is on trial for violating the alien labor law. He is accused of sending to Canada for a coachman and a gardener. PETITIONS have been addressed to Flower, of New York, declaring Tonathat Gov. troops are not needed at wanda and asking their withdrawal. THE Duke of Veragua has sent a letter to Secretary Gresham thanking the government for the manner in which he was entertained while in the United States. RAINMAKER MELBOURNE has made a contract with Senator Warren and other citizens of Laramie County, Wyo., to produce one-half inch of rain within the next five days. THE Iowa Republican convention will meet at Des Moines August 15. NINETEEN persons were prostrated by heat in New York on the 20th. JAMES GRANGE, a bookbinder at New York, assigned to Andrew Gilhooly with preferences of $20,736. THE Citizens' Exchange Bank, the of Grant, Neb., has closed its doors, State Banking Board taking charge. RATES of $51 first class and $33 second were St. Paul to San Francisco, class, announced by the Great Northern. JAMES McCLAY, charged with placing Centies the tracks of the Michigan tral Railroad with a view of wrecking a train, was convicted at Saginaw, Mich A STEADY improvement in the condiof labor is shown by the report of a tion sub-committee of the Senate committee on finance on prices and wages for fifty years. THE death is announced at New York of Mareschal Jose Simeaode Oliveria, of Brazil, president of the Brazilian com- Exmission to the World's Columbian position. JUSTICE BEACH, of New York, granted Blanc a decree of absolute Frederick from Elizabeth Blanc, the divorce "Baroness." She is enjoined from the use of his name. IT has been learned that Ralph E. Gaylord, who left Omaha, Neb., sixty have days ago, and who was thought to He insane, is in financial distress. debts. has been probably fled to escape his PHIL Eddy, who was to have been to the beautiful and accommarried plished Widow Davis, at Columbus, is said to have robbed her of $300, which Ind., she had intrusted to his keeping. WALTER BESANT, the English novelist, has arrived at New York. Miss LOUISE ESTLING committed suicide at Sedalia, Mo., by hanging. MGR. SATOLLI' attitude on the school Pope. question is again indorsed by citizen the of PHILLIP GRAVER, a wealthy Allegheny City, Pa., committed suicide

4. June 28, 1893 The Star Reynoldsville, PA

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LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. RIDGWAY, PA.-The Ridgway bank. private institution, closed its doors, finiding it impossible to realize on securities. The estimated assets are $534,000, liabilities, $21,000. The City National Bank, Greenville, Mich.. suspended after a run. Deposits. $210,000; assets, $312,000. The Bank of Commerce, San Francisco, suspended yesterday, and the First National bank and Commercial bank of Santa Ana, Cal., did not open. The amount of clearing house certificates issued at New York Thursday was $2,350,000. This brings the total up to $4,900,000 since it was decided to issue the certificates. B. T. Ren & Son, grain dealers, Nashville, Teun., made an assignment Liabilities, $100,000, with about equal assets. Henry Sheldon & Co., tea and coffee dealers, of New York, have failed. Their resources are between $200,000 aud $300,000. BIRMINGHAM, ALA.-An unfounded rumor that the First National Bank has refused to pay a check for $80,000 precipitated a run Thursday morning. The bank paid out about $41,0 0 up to noon, when confidence was restored and the run ceased.

5. June 29, 1893 Eagle River Review Eagle River, WI

Article from Eagle River Review, June 29, 1893

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NEWS PARAGRAPHS. DR. McGLYNN has returned to New York from Rome. and Savings has no, THE Cal., Loan suspended. Bank of FresTHE Bassett planing mill at Minneapolis was burned. The loss is $50,000. GERMANY has broken off the negotiations with Russia for a commercial treaty. THE Minnesota Sangerbund at St. Paul elected Carl Heerle of Duluth president. E. H. TODD, a Quincy, Ill., carriage manufacturer, committed suicide with revolver. MILTON BOYER was adjudged insane at a Galesburg, Ill. He shot his sister week ago. The Turner & Seymour hardware factory at Torrenton, Conn., burned with a loss of $85,000. THE Braddock wire mills at Rankin, Pa., have been shut down and 700 men are out of work. CHINA asks a new treaty with the United States in view of the immigration situation. FRANK HAYES, 19 years old, was sentenced to imprisonment for life at Detroit for murder. BURGLARS robbed the safe of the Buckeye dry goods store at Terre Haute, Ind., of $600 in cash. MRS. JENNIE JOHNSON committed suicide at Cleveland by leaping from a fourth-story window. PRESIDENT CLEVELAND has accepted Col- an invitation to attend the Williams 1ege centennial celebration. REAR ADMIRAL MARKHAM and the court- offiof the Camperdown are to be martialed cers for the Victoria disaster. A UNION of French-Canadians and other Catholics in the Dominion urged by ex-Premier Mercier, of Quebec. TWENTY plantations were flooded beNew Orleans by a break in the low levee. The loss will amount to $1,000,000. BURGLARS robbed the hardware store G. E. Vanderveen, the grocery of Smeenge, of and the post-office at Holland, Mich. FIVE men were entombed in a mine Swissvale, Pa., by a fall of earth. will near All were rescued, but Henry Kane probably die. IN order that holders of Reading genmortgage bonds may receive their eral interest, arrangements are being aucmade July to sell the coal on hand at tion. A 5-YEAR-OLD son of William Atherof Guthrie, O. T., while playing the about ton, some building stone, down on himself and was pile well pulled killed. ANDY MULDOON, an oil shooter, hauling 200 quarts of glycerine was to Guffey was Station, Pa. The wagon overturned and an explosion ensued, his which left nothing of Muldoon and horses but shreds of flesh. PRINCESS EULALIA has presented to Robert A. Parke of the Pennsylvania Railroad, a beautiful and costly dagger, with ornamented and inlaid highly Mr. Parke had personal charge travof jewels. the train in which the Princess eled. A NEW YORK dispatch says that Mrs. Eleanor Fletcher Bishop, the mother the of the late Washington Irving as announced her Bishop, famous marriage mind-reader, to Lucius Langdon Nicholas, who is said to be a great-great-grandson of an emperor of Russia. JOHN CRAMER and Charles Kennel at tempted to drive across the tracks Phil- of the Reading Railroad Company at adelphia in front of an express demol- train. The engine struck their wagon, it and instantly killing Cramer. was ishing Kennel's leg was broken and he terribly bruised. MGR SATOLLI, papal delegate, is in St. Paui. THE People's Bank at Pomona, Cal., has closed. a CONGRESS will be asked to establish national board of health. THE Bank of Commerce at San Francisco has closed its doors. THE First National Bank of New Whatcom, Wash., has failed. A RECEIVER has been appointed for the Omaha & St. Louis Railroad. THE armored cruiser Maine was on launched at Brooklyn navy yard June 22. LETTERS of credit on Europe so far are not more than 20 percent of the amount last year. THE City National Bank of Greenville, Mich., has failed. The deposits are $210,000. A CORRESPONDENT in Rio Janeiro telegraphs that the Vatican envoy there has been removed. TYPUS FEVER has broken out in the garrison at Munich. It is due to the quality of the food. THE Reading and Grand Trunk roads have formed a close traffic arrangement. alliance is important. WILLIAM KLINE, of Brightwood, home. Ind., was murdered while asleep at his A hatchet was the weapon. ALNIN G. CLARKE, missing from Chicago. Home City, O., has been found in Creditors will be paid in full. BURGLAR HENDERSON has confessed Haugh- to the murder of John Tarpin at ville, Ind. He is under arrest. POPULIST railway commissioners onslaught in Kansas are preparing for an tariff's in that state. grand jury caused surprise the upon DECATUR'S freight against by returning no indictment lynchers of Sam Bush, the negro. THE Rev. Rodney Edwards, formerly Franof Trinity Church in San cisco, pastor was arrested charged with embezzling $1,200 trust funds. is said Justice Fitzgerald, of the California IT supreme court, will be named