Article Text
Bank Suspension. SAN FRANCISGO, December 26. - A Commercial Bank suspended Friday afternoon. The President hopes to resume tomorrow morning,
1044. Commercial Bank (San Francisco, CA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- December 26, 1875
- Location
- San Francisco, California (37.780, -122.419)
Metadata
- Model
- gpt-5-mini
- Short Digest
e117a32e
Response Measures
None
Description
Multiple contemporary dispatches (Dec 26–27, 1875) report the Commercial Bank of San Francisco suspended Dec 26. Initial statements hoped for quick resumption, but by March 1876 stockholders removed management and appointed a committee to wind up, indicating permanent closure rather than reopening. No bank run is described in the articles.
Events (1)
1.
December 26, 1875
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Small private bank with about $30,000 liabilities; suspended unexpectedly and quietly; management issues referenced (cashier Pinkham and president Hanscom) and later stockholders moved to wind up the bank's affairs, suggesting bank-specific troubles/management failure contributed to suspension.
- Newspaper Excerpt
- The Commercial Bank suspended Friday afternoon.
- Source
- newspapers
Newspaper Articles (11)
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THIRD DISPATCH. Charged with Murdering his WifeCoroner's Inquest-More About the Commercial Bank-Wires Cut and Reward Offered-Annual Meetings-Delinquent Sale Postpoued. SAN FRANCISCO, Dec. 27-3:30 P. M.Louis Losse, arrested and charged with murdering his wife last Friday night, waived examination in the Police Court this morning, and was held to answer without bail. Mrs. Losse's daughter, twelve years old, testified to seeing Losse drag his wife from the bed by the hair and beat and kiek her. An inquest on the body of the murdered woman will be held this afternoon. The Coroner's Jury in the case of Gustave Holtz, run over and killed by the Market street cars last Friday evening, found a verdict this morning altributing the accident to inexperience and carelessness of the driver of the car. The Commercial Bank, which suspended last Friday afternoon, so unexpectedly and quietly, remains closed this morning. Pinkham, cashier, and the only man connected with the concern who seems to know anything of its affairs, declines to make any statement to-day, but promises one to-morrow, says he hopes to make arrangements to open in a day or two. Both Pinkham and Hanscom (President) scout at the idea of anything wrong in the management of the bank, and claim that no one will lose anything in case of resumption. The wires connecting the Stock Board with the Western Union Telegraph office were found cut again this morning by some malicious person. A reward of $200 in offered for the discovery of the perpetrator. The annual meeting of the stockholders of the Gila Silver Mining Company will be held on the 10th of January, at 1 P. M. The annual meeting of the Gould & Curry will be held to-day at 1 o'clock. The delinquent sale of the Woodville Mining Company is postponed until Saturday, January 15th.
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SAN FRANCCISCO, Dee. 27-3 P. M.The Meredith Mining Company incorporated to-day; capital, $10,000,000; Directors, W. S. O'Brien, Joseph Clark, A. E. Head, James F. Miller and John Skae. Also, the Mackay Company, at the same place, and same capital and Trustees as the Meredith. Seth Pinkham, Cashier of the Commercial Bank, is out in a card stating that the bank will resume operations in the near future, and that nobody will lose a cent by the bank's suspension. A Japanese dwelling-house, with a lot of native carpenters which were brought over by the steamer Alaska, will start for the Centennial Exhibition next week, and will take ten cars to convey it to Philadelphia. The police made a raid Sunday morning at 2 o'clock, on the Chinese Theater for the purpose of arresting Chinamen for carrying concealed weapons. Though the house was crowded the officers did not succeed in capturing any, because of the Celestials threw their arms under the benches before they were searched. After the crowd dispersed, the officers found many knives and revolvers on the floor. The new Spanish-American Catholic Church in this city was dedicated with imposing ceremonies on Christmay Day. The City Prison was crowded to overflowing this morning with the accumlation of thirty days' business. Sixtynine persons were confined in one cell, and over $3,000 was received as bail money for petty offences. The old Marine Hospital at Rincon Point, which was abandoned by the Government is 1868, has been applied for by the Ladies Seaman's Friend Society, and if they get possession will fit it up as a refuge for sick and disabled sailors.
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PACIFIC COAST DISPATCHES. FROM CALIFORNIA. Held to Answer. SAN FRANCISCO, Dec. 27. Louis Lasse, arrested and charged with murdering his wife last Friday, waived an examination in the Police Court this morning and was held to answer without bail. Mrs. Lasse's daughter, twelve years old, testified to seeing Lasse drag his wife from the bed by the hair and beat and kick her. The Coroner's jury in the case of Gustave Holiz, who was run over an I killed by a Market street car on Friday evening, found a verdietthis mornmg attributing the accident to the inexperience and carelessness of the driver of the car. The Commercial Bank, which suspended Friday afternoon SQ unexpectedly and quietly, remains closed this morning. Pinkham, cashier, and the only man connected with the concern who seems to know anything of its affairs, declines to make any statement to-day, but promises one to morrow, and savs he hopes to make arrangements to open in a day or two. Both Pinkham and Hanscom, the president, scont at the idea of anything being wrong in the management of the bank. and claim that no one will lose any h 118 in case of resumption. A dispatch dated Virginia. December 24th, says: All the men working on the 1400 foot level of the Consolidated Virginia mine were discharged last night, to the number of sixty or seventy. Col. Fair says the work was stopped on the 1400-toot level because he has not mills enough ready to handle theore Theore in the 1500 foot level is superior to that on the 1400-foot level, and he can not yet get away with all hat comes from the 1500-foot level. Fryer nt the Bay-Mrs. Hayward Sues for a Divorce. SAN FRANCISCO, Dec. 27. A. M. Fryer, inventor of the now famous process in the reduction of refractory ores, this afternoon left. this city, where he has been stopping the past week, for Grass Valley, to superintend the practical working of the invention. During his stay his rooms at the Occidental have been besie ged by mining 1111 n. capitalists and others interested. and large offers have been made b. m for an interest in the inven-
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MINOR TELEGRAMS. A San Francisco despatch states that the Commercial bank has suspended with liabilities of $30,000, which are fully secured. It will resume soon. The President has recognized Jose Perignat, Vice Consul of Spain, at New York, and Frederico Granadas, Vice Consul of Spain, at Savannah, Ga. A Western despatch states that M. Mariscal, the Mexican minister, denies that there is any official or unofficial agency in this country for immigration to Mexico. A Brownsville despatch states that Dr. Harris has not yet been delivered up by the Mexican authorities, and there is no prospect of their doing so. Bandits, supposed to be Mexicans, robbed the store of M. Estope at Edin. burg Saturday and fatally wounded Estope. It is reported that a dozen Italians sail from New York for Cuba to-day, to join the Spanish army. The condition of Moses A. Wood, who was brutally stabbed and shot by burglars in Cambridge Sunday morning, was favorable yesterday and his attendant physician says that unless something unusual occurs he will recover. A despatch from Bayou Sara received at New Orleans says there is trouble there and the blood of the colored people flowed freely in that town. There is no confirmation of this report. The reported revolution at San Rafael is a canard. Mary Davis, a girl on whose testimony Lodicia Fredersburg and Albert Fredensburg were convicted of murder at Gray, N. Y., last summer, now states that she swore falsely, and that she and her grandmother committed the deed. The Chicago Times says that all parties implicated in the revenue frauds there will be allowed to plead guilty and thus insure immunity from imprisonment.
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Failure. SAN FRANCISCO, Dec. 27. The Commercial bank suspended Friday afternoon. It was a small concern with about $30,000 liabilities, which are fully secured.
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SETH PINKHAM, cashier of the Commercial Bank, San Francisco, says the bank will resume shortly and. that nobody will lose a cent by its suspension.
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Bank Suspended. SAN FRANCISCO, Dec. 26.-The Commercial Bank su-pended Friday afternoon just before the regular hour of closing so quietly that scarcely any one noticed it outside of those personally interested.
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THE Commercial Bank in San Francisco suspended Friday afternoon. The Pre i lent says the bank is solvent and the depositors will be paid in full.
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Latest Telegrams. Dispatches of American Press Association by A. & P. Telegraph Co. [SPECIAL TO THE HERALD.] PACIFIC COAST. San Francisco News. SAN FRANCISCO, March 11th.-Cohen in an interview denied in toto all the charges made by the Central Pacific against him. Also he said he is not in cahoots with Tom Scott, or any other man, but is running the Archer bill on his own hook. The stockholders of the Commercial Bank held a meeting last evening. The purport of the discussion was to the effect that the failure of the Bank was caused in great measure by neglect of E. J. Baidwin to pay up his subscription of 500 shares. Eighty-five deaths occurred during the past week, of which 53 were males and 32 females. Culprits who have pleaded guilty in the Municipal Court this week to various offenses came up for sentence this morning-16 in number.
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Latest Telegrams. Dispatches of American Press Association by A. a P. Telegraph Co. [SPECIAL TO THE HERALD.] PACIFIC COAST. San Francisco News. SAN FRANCISCO, March 17th.-Chas Schwartz was arrested yesterday charged with embezzlement. He is accused of appropriating $3,000 belong. ing to A. and L. D. Radyesky. He had a box of poison in his pocket and had intended to commit suicide as he informed the officer. Ah Hing has succeeded in getting another writ of habeas corpns granted by the Supreme Court. Returnable before Judge Whesler. The case of Assemblyman Wilcox, indicted for an assault with intent to murder, has been on trial here in the County Court for the past four days. The trial excites considerable interest, and was brought to a termination last evening a 6 o'clock. The jury after being out four hours returned & verdiet of simple assault. This morning in court Judge Clark imposed upon the defendant a fine of $500. Wilcox walked up to the clerk's desk paid the fine and took his leave of judge and jury. The stock holders of the suspended Commercial Bank have taken the management away from Pinkhamand invested it in a committee of three stockholders with instructions to immediately wind up. A sailor named John Burns was found dead in his bed at 106 Jackson street this morning. Jhe Coroner took charge of the remains and will hold an inquest. The sentence of Wm. J. Taylor, alias Mushhead Bill, for the murder of Doc O'Neal, has been continued by the Fourth District Court until Moni day morning next. A young man named Frank P. Katz from Los Angeles was arrested this afternoon at about 2:30, o'clock, on a warrant sworn by August Folkenstein. He is charged with appropriating the sum of $24 of the money of Folkenstein & Co. to his own use. The action brought by Charles E. Pickett against the Justice of the Sue preme Court to recover damages for alleged false imprisonment was dismissed by the Twelfth District Court on motion of plaintiff. No Eastern mails arrived to-day. Postmaster Corey has been advised that two days' mail matter will reach here this evening and the other mails due to-night will come through to-morrow. Counterfeit trade dollars are in circulation. They are lighter in weight than the jenuine and feel soapy and can be detected by close observation. A loan of $120,000 has been secured from two capitalists in this city on property and franchises of San Luis and Santa Monica valley railroad for a period extending until August 1st, 1877, at 10 per cent. per annum, payable monthly. This isa narrow gauge railroad in San Luis Abispo county, Arrived steamer Orizaba from San Diego and wav ports. Sailed steamer Senator for Wilmington, Schooner El Norah for San Pedro.