1011. Bank of Nevada (San Francisco, CA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
September 1, 1875*
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini
Short Digest
ebf95a2b

Response Measures

None

Description

Contemporary articles (Sept–Oct 1875) report the Bank of Nevada was closed/suspended during the post-Ralston/Bank of California crisis and planned to resume business; multiple pieces state it would 'open' on or about Oct 4, 1875. No article describes a depositor run on the Bank of Nevada itself — discussion is about general confidence and reopening. I infer 'state' bank from the name (not labeled 'National' or 'Trust').

Events (3)
1. September 1, 1875* Suspension
Cause Details
Closed earlier during the San Francisco banking crisis following the failure of the Bank of California and the death of Ralston; articles refer to planned reopening but do not explicitly state the precise suspension trigger for Bank of Nevada beyond the general crisis.
Newspaper Excerpt
It is stated that the Bank of California, Bank of Nevada and Stock Boards will open about the 15th.
Source
newspapers
2. September 12, 1875 Other
Newspaper Excerpt
The prospect of opening the Bank of Nevada by the 1st prox., and the prospect of the early resumption of the Bank of California, have tended to increase the confident feeling in business circles, and large transfers of coin from the Treasury and receipts from the Mint have had a favorable effect.
Source
newspapers
3. October 4, 1875 Reopening
Newspaper Excerpt
There is now every reason to think that the Bank of California will resume on Monday, the 27th, and that the Bank of Nevada will open its doors for business on Monday, October 4th.
Source
newspapers

Newspaper Articles (10)
1. September 9, 1875 The Cheyenne Daily Leader Cheyenne, WY
Article from The Cheyenne Daily Leader, September 9, 1875

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place to-night at which a numerous attendance is expected. San Francisco, Sept. 8.-The meeting to-night at Union Hall was well attended, the hall being filled and the crowd filling the street to listen to the open air speaking. The addresses delivered were devoted mainly to attacks on the Bulletin and Call for their course during the recent campaign and since the failure of the Bank of California and the death of Ralston. Resolutions were adopted condemning these papers for their attacks upon Ralston, and calling upon the people to withdraw their support from them. In the open air meeting the resolutions also censured the A4sociated Press for telegraphing the so-called false reports, the reading of which was greeted with many cries of "No! no!" as was the case with the other resolutions read outside. The resolutions also referred briefly to the character of Ralston, embracing the usual expression of respect and regret. The meeting was quite orderly throughout, though some of the speeches were rather of an inflammatory order, but no expressions of dissent were heard save those we have mentioned. It isevident many of those composing the audiences were present merely as observers, and the vote by which the resolutions were adopted did not represent by any means the sentiment of the whole assemblage. The Legislature stands, in the Senate, 19 Democrats, 5 Independent Democrats, 9 Independent and 7 Republicans; Assembly, 60 Democrats, 1 Independent Democrat, 7 Independents and 11 Republicans, The Democrats and Independents are tied in Yuba county, It is now stated that the Bank of California will open at the same time as the Bank of Nevada, which will be about the 13th inst. The stock boards will also open at the same time. No perceptible run on the U. S. Treasury to-day for the resumption of gold notes of the National Gold Bank & Trust Company. The Regents of the State University have elected D.O. Mills, Treasurer, vice Ralston. The finance committee of the board reported that the University will lose nothing by the failure of the Bank of California, being protected by the late Treasurer's bond for one hundred and fifty thousand dollars. Dispatches from the seat of the Indian outbreak, in Nevada, indicate that the trouble is probably exaggerated, though troops are being forwarded.

2. September 9, 1875 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 9, 1875

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NEWS OF THE DAY. "To show the very age and body of the Times." An explosion took place in the celluloid factory in Newark, N. J., yesterday. About thirty men were in the building at the time, but some of them escaped uninjured. Three were taken out by the firemen, one of whom was dead and the others are not expected to recover. It is supposed that twelve or more remain in the building without hope of rescue. The building was destroyed, together with three adjoining establishments. Loss $175,000. A peach train going north from Wilmington. Del., was run into by another peach train fol lowing at 12 15 Wednesday morning at Ches ter, Pa. Six cars were badly broken and one engine damaged. Several telegraph poles in the vicioity were knocked down and communication was interrupted 00 many of the wires until after daylight. No one was hurt by the accident. The sugar and molasses crop of Louisiana last year was one of the largeston record-116,867 hogsheads of sugar and 11,516,828 gallons of molasses, and this year's crop is expected to exceed it. A similar report is made of this year's rice crop, which is estimated at 104,963 barrels, and cotton will probably do as well. A colored man, named Robert Gilmore, was shot through the head and instantly killed yesterday by officer Joyce, of the Brooklyn, N Y., police. Gilmore had been arrested, with two others, for drunkenness and disorderly conduct, and attempted to escape from the station-house. In the examination of Wm. Westervelt, at Philadelphia, yesterday, a sensation was produced by the testimony of Lucretia S. Peers, of Brooklyn, N. Y., who testified that she saw the prisoner on the 6th of July in a horse car in that city with a child resembling Charley Ross. The Board of Health report in New York city up to last Saturday indicates a marked in. crease of diptheria, seventy.two cases being reported, against thirty-nine during the previous week. As an offset, however, smallpox has fallen off fully one-half. Sir Edward Thornton, umpire of the United States and Mexican Claims Commission, has given a decision in favor of George L. Hammeken vs. Mexico for $100,000 on account of damages to the Mexico and Tacubaya railroad during the Miramon administration. The U. S. District Court has been in session in Atlanta, Ga., three days, and during that time eighty-three persons have been convicted and sentenced for violation of the internal revenue laws, principally illicit distilling. The American Pomological Society has begun its fifteenth biennial session at Chicago. There is an attendance of nearly three hundred members, representing every State in the Uuion and the provinces of British America. The Madrid government has determined OD the immediate reduction of Estella, the stronghold of the Carlists. The Alfonsist General Quesada has moved his forces from Victoria to Tafalla. The Committee of Foreign Missions and Sustentation of the Presbyterian Church in the United States has transferred its sittings from St. Louis to Baltimore. Eight workmen were buried by the tumbling down of a new brick wall of a store in Jackson, Michigan, yesterday. Three had been taken out at last accounts badly injured. A special dispatch to the Louisville, Ky., Ledger from Granville, Ky., reports that the bank of F. B. Hancock & Co. was robbed of $27,000 several nights since. It is now stated that the Bank of California will open the same time as the Bank of Nevada, on the 15th inst. The stock boards will open at the same time. A monster meeting was held last night in San Francisco in memory of Ralston, the late bank president. The amendments to the New Jersey Constitution have been carried by twenty thousand majority. W. A. Cumming & Co., flour and commission merchants, Spear's wharf, Baltimore, suspended payment yesterday.

3. September 10, 1875 New Orleans Republican New Orleans, LA
Article from New Orleans Republican, September 10, 1875

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MISCELLANEOUS. A Fishing Party at Franklin Struck by Lightning-Two Men Killed. FRANKLIN, La., September 9.-The following named gentlemen of this place, W. D. Brown. E. J. Smith, W. D. Trowbridge, John Murphy, and a colored man, while out fishing in an open boat off Long Point, twelve miles from here, this afternoon, were caught in a violent thunder storm, during which a bolt of lightning fell upon them, instantly killing Brown and the colored man, and seriously injuring Smith about the head, face, cheet and legs. The others, Murphy and Trowbridge, were knocked senseless, but soon recovered. As soon as the sad tidings reached here the relatives and friends of the unfortunate men repaired to the place, bringing the survivors and the dead bodies home. Will Open. SAN FRANCISCO, September 9 -Itis stated that the Bank of California, Bank of Nevada and Stock Boards will open about the fifteenth. No Run on the Treasury. There is no perceptible run on the United States treasury to-day for redemption of the gold notes of the National Bank and Trust Company. The State University. The regents of the State University have elected D. O. Mills as treasurer vice Raleton. The finance committee of the board report that the University will lose nothing by the failure of the Bank of California. CONTINUED ON TOURIS PM

4. September 10, 1875 The New Orleans Bulletin New Orleans, LA
Article from The New Orleans Bulletin, September 10, 1875

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GENERAL NEWS. Sr. LOUIS, Sept. 9.-Mr. Davis addressed the DeSoto Agricultural Fair. He was well received, but there was no notable demonstration. VICKSBURG, Sept. 9.-The registration of voters is suspended in this county, the registrars reporting they can not perform their duties safely. The labor on the plantations is not resumed. SAN FRANCISCO, Sept. 9.-It is stated that the Bank of California, Bank of Nevada and Stock Boards will open about the 15th. ERIE, Sept. 9.-The committee on platform reported progress, but did not complete the work last night.

5. September 13, 1875 The New York Herald New York, NY
Article from The New York Herald, September 13, 1875

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CALIFORNIA FINANCES. THE GENERAL BUSINESS LOOKOUT-CONFIDENCE BEING RESTORED. SAN FRANCISCO, Sept. 12, 1875. To-morrow will be the semi-monthly mercantile collection day. The money market is in a somewhat easier condition, and it is believed a little mutual forbearance will enable all to pass the ordeal without disaster. Thus far merchants have shown a universal disposition to help each other, and avoid pushing claims to such an extent as to embarrass each other. The prospect of opening the Bank of Nevada by the 1st prox., and the prospect of the early resumption of the Bank of California, have tended to increase the confident feeling in business circles, and large transfers of coin from the Treasury and receipts from the Mint have had a favorable effect, The action of the National Gold Bank and Trust Company, in accomplishing gradual resumption instead of hoarding coin against formal opening, has been of material assistance to the money market. The institution is now doing a general business with no signs of any run upon its resources. The syndicate of the Bank of California is continuing preparations for a resumption with no special new developments to report.

6. September 14, 1875 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, September 14, 1875

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THE SITUATION IN CALIFORNIA. - San Francisco, September 12.-To-morrow will be semi-monthly mercantile collection day. The money market is in somewhat easier condition, and it is believed a little mutual forbearance will enable all to pass the ordeal without disaster. Thus far merchants have shown 2 universal disposition to help each other and avoid pushing claims to such extent as to embarrass each other. There is a prospect of opening the Bank of Nevada by the 1st proximo, and the prospect of early resumption of the Bank of California has tended to increase the contident feeling in business circles, and the large transfers of coin from the Treasury and receipts from the mint have had a favorable effect. The action of the National Gold Bank and Trust Company, in accomplishing gradual resumption instead of hoarding coin against formal opening, has been of material assistance to the money market. That institution Is now doing general business, with no signs of any run upon its resources. The syndicate of the Bank of California is continuing preparations for resumption.

7. September 16, 1875 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, September 16, 1875

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Stecks and Mines-Stocks Incidentally and Mines Especially-Pron pests or the Bank Resumption -Presprets of a ¡Rovival of the Regular Stock Boards-Prospects in the Mines To-Day. The opening of the California Stock Board and the business which has been done through It of late during the continued suspension of both the regular Boards, has had merely the effect to allow people to keep the run of stocks a little. and although fluctuating, content the mind of the great stock dealing public to a certain extent, for it would be dreadful to lose sight of stocks and the stock market altogether. Judging from the limited transactions of the Little Board, stocks have revived considerably from the great crash, and have a stiffening and encouraging ten" dency, inducing the belief that prices will be good at the reopening of the regular market, when the two regular Stock Boards resume business, which will doubtless be simultaneously with the resumption of business by the Bank of California. Upon this point the San Francisco Alta of yesterday says: There is now every reason to think that the Bank of California will resume on Monday, the 27th, and that the Bank of Nevada will open its deors for business on Monday, October 4th. The Bank of California, having its affairs in good train, and with the accession of Mr. Baldwin to the direction, will procoed in regular course to meet the small claims, and as its assets mature will the larger obligations will be deferred. have funds to employ at short dates; and As confidence, in our elastic market, with the buoyant temperament of the public, returns, and the now sequestered funds find their way again frankly into circulation with accumulating resources, the difficulty of collecting assets will rapidly disappear, and the great "clearing, which consists in the mutual liquidation of claims, will be marked with a plethora of money far greater than that which is apparent in either London or New York. This certainly is a very encouraging aspect, which all hope will be fully realized. Below we give our regular weekly summary of the latest and most correct mining information, derived from official and authentic sources, showing the situation of each mine to-day, up to the time of going to press: Lady Washington. The chamber of the pump tank at the 260-foot level is completed, the tank put in, and on Monday next it is proposed to commence lowering the sections of the heavy new Cornish liftpump into position. The immense new pump engine with all its powerful and massive gearing and accompanying machinery is arriving to-day and will all be here to-morrow, ready to be placed in working position forthwith. This ongine is a duplicate in every respect of that recently procured for the famous c. & c. shaft, Virginia City, and which has been named the Big Bonanza" in honor of the big bonanza far down in the bowels of the earth, which it is to so powerfully nasist in developing. Who knows but this twin sister to the "Big Bouanza" may develop another big bonanza at this end of the load, in the Lady Washington mine? Last Thursday, just before this ponderous bit of machinery was shipped from San Francisco, the Alta HAYS, it was inspected by a number of the leading mining gentlemen connected with the Comstock mines, and admitted that for size and beauty of design, splendid workmanship and completeness of detail has never been approached on this coast. The engine in A direct acting pumping one, of 40 diameters, 8 foot stroke, with Davey's valve gear, made from the designs of W. H. Patten, a distinguished engineer of Virgima City. It is intended for draining the mine of water, and embodies all the latest and most improved points in mining machinery; dispenses with all gearing, and allows the engine to connect direct with the pump bob, which in turn communicates its motion to the pumps. This is a very economical and inexpensive method of transmitting power, and no doubt will be generally adopted by the larger mines in the future. Ophir. Daily yield, 200 tons of ore. The yield of ore last month gave a return of $217,000, which will be increased during September to nearly double that sum. This favorable showing in the yield is entirely owing to a steady increase in the value of the ore extracted, and it now begins to look as if it would not be long before the long-cherished hopes of the stockholders would be realized, and Ophir again take her former position as a first-class dividend paying mine. This state of affairs is greatly encouraging, and proves more and more that, with perseverance and a judicious investment of means, the return of any of the Comstock mines to the payment of dividends is only a matter of time and industry. The mine is looking well throughout, and the ore [prospects of the 1700-foot level were never more flattering than at the present time. The erection of the pumping and incline machinery is stendily approaching completion. The new air compressor has started up, and everything is now ready to net the Burleigh drills to work in the main incline and drive it downward at a very rapid rate. In the meantime the cross-cutting of the 1700-foot level will be energetically prosocuted and the value of the ore vein fully developed at that point. California. The main north drift on the 1550-foot level is steadily advancing. Sinking the winze from cross-cut No. 3 on the 1500-foot level to connect with the north

8. September 16, 1875 Puget Sound Dispatch Seattle, WA
Article from Puget Sound Dispatch, September 16, 1875

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Telegraphic NEW YORK, Sept. 12.-The Western Union Telegraph directors at their meeting yesterday ratified the recent election of D. O. Mills of San Francisco, by the Executive Committee as director in place of C. Witt, deceased. The banking house of F. Schuchardt and Sons has stopped payment. The firm is one of the oldest and most respectable. in business. The causes of the suspension date back to before the panic. It is expected that ultimately the creditors will receive full payment. At one time their bills on London sold higher than bankers now ranking as prime. Losses will fall principally in Europe. CHICAGO, Sept. 11.-A terrible disaster occurred on Lake Michigan. The propeller Equinex on her way from Chicago to Bay City, Mich., with a cargo of salt and towing the schooner Emma E. Mays, was overtaken by a storm near Point Au Sable. The Captain of the Equinox cams to thestern of the propel ler and called out to cut the line, this was done and the propeller caved in and sunk in a few minutes. She had a crew of 19 men. Capt. Dwight Scott of Cleveland, who was accompanied by his wife and granddaughter, making a total of 22. The first intimation that the schooner had of the catastrophe was the shrieks of the drowning. The Mays could render no assistance and the entire crew of the Equinox went down. The Inter-State Industrial Exposition which met in this city last Thursday, is now fairly under headway and surpasses any previous exhibition, in number of exhibitors and quality of display and completeness of all the arrangements. The attendance since the opening has been very large. This evening the immense building has been visited by not less than 25,000 people. PT. JERVAIS, Sept. IL-Heavy frost in this section last night, destroying the buckwheat. Corn and other crops are injured. RALEIGH, Sept. 11.-The following are the principle ordinances introduced in the convention: Abolition of the office of Lieutenant-Governor; prepayment of poll tax as a qualification for suffrage; abolition of Township system; restoration of Court of Common Pleas and quarter session; to-prohibit intermarriage of races and fixing civil rights and social equality before the law from the Democratic standpoint. MONTREAL, Sept. 12.-Over 5,000 people visited the two cemeteries to day. The vault in the Protestant ceraetery in which are Guibord's bones and his intended grave in the Catholic burying ground. Deuble pickets are out on the avenue leading to the vault. WASHINGTON, Sept. 12.-Senator Pease of Mississippi, telegraphs to the Attorney General that all excitement consequent upon the disturbances at Clinton has subsided. NEW YORK, Sept. 11.-A special dispatch from Bredan states that the concentration of the two German armies ordered to participate in the grand autumn manouvres will be effected on Monday and will begin and continue during the week. BEBLIN, Sept. 11.-A daughter of Bismarck has been bethrothed to Count Wendlzuenlarborge of the Prussian service. FLORENCE, Sept. 11.-To-morrow will be the first day of the festival to commemorate the birthday, 400 years ago, of Michael Angelo. The celebration will last three days. CETTIGUE, MONTENEGRO, Sept. 12.-All the country between Servia and Montenegro is in full revolt. Fully 10,000 insurgents have taken the field. The towns of Perrepivl and Pleolie are sacked and Turkish villages burned and Turks massacred. The Christian inhabitants have taken refuge in the mountains. The Turkish troops are demoralized and the insurrection is 0 spreading on all sides. Montenegro is t prepared for war and the wildest enthusiasm prevails. General war is reg garded as inevitable. E CONSTANTINOPLE, Sept. 12.-The forc eign consuls acting as mediators leave B Mostar to-day and will endeavor to see the insurgent leaders whom they will I inform that there is no hope of foreign aid and will advise them to submit the c grievances to Servia Pasha. If the result is unsatifactory Servia Pasha will issue a proclamation assuring the redress of all grievances on condition that the insurgents submit within a certain time. SAN FRANCISCO, Sept. 11.-It is reported on what is believed to be good authority that Flood & O'Brien have purchased from the Bank of California the San Francisco Refinery and Acid Works also considerable mill property in Nevada aggregating in the neighbornood of four hundred thousand dollars. The prospect of the opening of the Bank of Nevada by the first proximo and the expectation of early resumption by the Bank of California have tended to increase a confident feeling in business

9. September 25, 1875 Carson Daily Appeal Carson City, NV
Article from Carson Daily Appeal, September 25, 1875

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SAN FRANCISCO CORRESPONDENCE OF THE 'APPEAL" SAN FBANCISCO, Sept. 22, 1875. The State Fair at Sacramento has taken away a large number of our resident population, including business folks, sight-seers and sports. The Record- Union wants to make out that all the sports inhabit San Francisco the year round, with the exception of Fair week at Sacramento. Such impudence anpears sublime to those who have seen the "gay gamboliers" of Sacramento worrying the tiger and flirting the short card every night of the year, while they shot at one another in front of the Orleans every one of its 365 days. Before the exit of Anthony and Merrill. Sacramento was indisputably the most immoral town in the State, and since then it has remained as bad as the worst. The Mechanics' Fair here does not fiag in its interest to high and low, rich and poor. What with the music of the band and pianos, the clang of machinery, the rush of the jets d' eau sixty feet in 'air, the shimmer of the colored fountain, the rustle of silks, the flash of the bright diamonds and brighter eyes, the scene is quite bewildering. The "Park" or garden is quite a favorite feature of the exhibition, and faces there may be seen, partially concealed by helmetlooking Lingard hats, peeping out from behind trees or flowers, that would fix me securely in the toils of love if it had not 60 long been the plague of my life. The girls and matrons promenade and chat, they show their fine clothes and eat ice cream, and, to alter Saxe slightly, They flirt and they flirt and they flirt, And that's what they do at the Fair." The street cars here, with their 858tem of transfers," have always been a bore, but now since the Oakland Ferry has been moved to the foot of Market street, they have become a do wnright nuisance. Two-thirds perhaps of all the cars now run from the South and West to the Ferry, while the rest go the Lord knows where. No notice has been given the public of the change except such as may be found after getting into a car, and even then it is so obscure that you must find out from the driver where you are to get a transfer. That being at last obtained, you rush out in a high state of excitement to find the car to which you should be transferred running away from you as fast as possible, thus giving you a chance to wait for the next car or exercise your legs. Most people get tired of waiting and do the latter, and the rascally railroad companies knowing this, fix the time 80 as to trick the passenger out of more than half of the ride he has paid for. For ways that are dark and for tricks that are not in vain, commend me to a $ street car company. Stocks have been declining for the last day or two. The San Francisco I Board has issued a list of prices at which settlements must be made by its members, which will facilitate the cleaning up of pending transactions. The Small i Board is doing a lively business in secS ond rate stocks, but its transactions in those of a leading character are hardly S noticeable. It is now said that the Bank of Nevada t is making strong efforts to enter business on the 27th of this month, and e that the Bank of California will resume about the same time. Resumption of R business by the stock boards will of to course immediately follow, and nothing If can then prevent everybody from being a happy in the opportunity of gambling to his heart's content. A MAN WHO DOES NoT LAUGH.-An o English traveller, Mr. Hartshorne, gave OF

10. October 1, 1875 Arizona Weekly Miner Prescott, AZ
Article from Arizona Weekly Miner, October 1, 1875

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PACIFIC SLOPE. San Francisco, Sept. 25.-The following are the quotations of the leading stocks' today: Belcher, 18; Best & Belcher, 39; California, 56; Gould & Curry, 17; Crown Point, 22; Consolidated Virginia, 270; Ophir, 48. The Bank of California Syndicate met this forenoon and organized by the election of William Sharon as President, James R. Keen Vice President, R. H. Lloyd, Secy., and the Bank of California Treasurer. The Executive Committeee have called upon the subscribers to pay in twenty per cent, or a million and a half within two days. This, with the collections since closing, will enable the Bank to open on Thurday or Saturday of this week, as they propose to do. San Francisco, Sept. 27.-Mining stocks are better if anything, sales are small to-day. Brokers have now about arranged their business and are ready to begin active operations with the opening of the Banks of California and Nevada. There is a stringency in the money market, but it is well understood that it is owing to no lack of coin which has been steadily gathered in from all quarters since the suspension of the Bank of California, and is still accumulating. The Hamman, Turkish bath house, was damaged to the extent of $6,000, on Sunday. Gold, 116+1; Greenbacks, 86 and 861. San Francisco, Sept. 28.-Stocks are weaker; Savage has declined seven dollars; Justice, three; Hale & Norcross, two; Crown Point advanced one dollar. Overland train to-day brought 130 first class passengers and 210 immigrants. The Bank of California Syndicate have paid in nearly all their assessments and it IS positively asserted that the Bank will re-open on Saturday. There are more than three millions of gold now in the vaults of the bank. f The two large stock boards will re-open on Tuesday Oct. 5h. The Bank of Nevada will open Monday Oct. 4h. San Diego, Sept. 30.-The Union this morning published a letter from General 0 John A. Sutter, of Penn. to Dr. George MeI Kinstry, of San Diego, which says, among other things: "I wish now only to inform you that General Oaks, Colonel of the Sixth Cavalry, will be in a short time, in San Diit ego, where he intends to make his Headquarters. He is now the Commander of Arizona, H and his whole regiment will be scattered there at different Posts and so he will have o