10641. Bank of Springfield (Springfield, MO)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: August 14, 1893
Location: Springfield, Missouri (37.215, -93.298)

Metadata

Model: gpt-5-mini
Short Digest: 89182373

Response Measures

Full suspension

Other: Assignment to Capt. C. B. McAfee (receiver) and proposal to issue certificates to depositors.

Description

Bank failed to open Aug 14, 1893 after large withdrawals amid the money stringency; assignment/receiver (Capt. C. B. McAfee) was made, but the bank resumed business Sept 5, 1893. Cause is attributed to widespread withdrawals/tight money conditions (macro news/money stringency) rather than a discrete misinformation event.

Events (3)

1. August 14, 1893 Run

Cause: Macro News
Cause Details: Large withdrawals called for (about $140,000) amid the broader money stringency/panic; run of depositors forced bank to fail to open.
Measures: Proposals to issue certificates to settle with depositors; consideration of certified checks/limited payments by local banks mentioned in region as context.
Newspaper Excerpt: The failure of the bank was due to the withdrawal of deposits, about $140,000 having been called for since the money stringency began.
Source: newspapers

2. August 14, 1893 Suspension

Cause: Macro News
Cause Details: Bank failed to open and made an assignment/closed due to heavy withdrawals during the currency/money stringency; liabilities reported and receiver appointed.
Newspaper Excerpt: The Bank of Springfield made an assignment to Capt. C. B. McAfee this morning.
Source: newspapers

3. September 5, 1893 Reopening

Newspaper Excerpt: The Bank of Springfield which suspended a few weeks ago, resumed business yesterday morning on a solid foundation.
Source: newspapers

Newspaper Articles (13)

1. July 20, 1893 Echo De L'ouest Minneapolis, MN

Article from Echo De L'ouest, July 20, 1893

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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.

2. August 14, 1893 Asheville Daily Citizen Asheville, NC

Article from Asheville Daily Citizen, August 14, 1893

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Short of Money. SPRINGFIELD, Mo., Aug. 14.-The - Bank of Springfield, with a capital of $100,000, failed to open this morning. CHICAGO, Ill., Aug. 14.-The - A. R. Beck Lumber compa: y, with yards and offices in South Chicago, assigned this morning. Assets, $511,000; liabilities, $250,000. CINCINNATI, O., Aug. 14.-May, Brothers & Co., wholesale dealers and manufacturers in clothing, 90 West Pearl street, assigned this morning. Assets and liabilities about $100,000.

3. August 15, 1893 The Times Richmond, VA

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NOT DUE TO BAD MANAGEMENT. Failure of Josiah Morris & Co. Has No Bad Effect-Other Failures. MONTGOMERY, ALA., August 14.Business opened here as usual to-day, the assignment of Josiah Morris & Co. producing no run on any other bank, and there is no apprehension of such a thing. B. Trimble & Co., private bankers, assigned. Their business is small, and the assignment created no excitement or trouble. The entire business element and community are receiving the clearing house certificates. A meeting of the depositors of Josiah Morris & Co. was held in the records court-room at 11 o'clock. Hundreds were present, including nearly every prominent business man in the city, and many from outside. It was the unanimous expression of opinion that the assignment was due to the general condition of the country, and not to any bad management of the banks. Resolutions, without any opposition, were passed, expressing confidence in ability and integrity of F. M. Billing and B. J. Baldwin, bank owners, and in abundant ability of the bank to discharge all indebtedness in a short time. Committees were appointed to investigate the condition of the bank, and to formulate plans by which its owners could take place of assignees and straighten up its affairs. Not a dissenting voice was made to this programme, and the committee is to report Thursday. It is believed that the situation is really only a suspension, and not a failure. All leading business men are confident that the proposed plan will go through, and that Billing will quickly be put in charge of assets, and that in a short time the bank will resume. SPRINGFIELD, MO., August 14.-The Bank of Springfield, with a capital stock of $100,000, failed to open its doors this morning. The St. Louis and San Francisco rallroad generally had a large deposit in this bank. JACKSONVILLE, FLA., August 14.The bank of Leesburg, Yager Brothers proprietors, made an assignment to-day. Its liabilities are about $40,000, and as+ sets fully $90,000. A steady withdrawal of deposits during the past ten days forced it to shut down. Depositors will be paid in full, but it will take a year or more to realize on assets. Business Embarrassments CINCINNATI, OHIO, August 14.-May Brothers & Co., wholesale dealers and manufacturers of clothing, 90 west Pearl street, assigned this morning. Assets and liabilities about $100,000. CHICAGO, ILL., August 14.-The A. R. Beck Lumber Company, with yards and offices in South Chicago, assigned this morning to the Equitable Trust Company. The assets are placed at $511,000; liabilities, $250,000.

4. August 15, 1893 The Herald Los Angeles, CA

Article from The Herald, August 15, 1893

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IN FINANCIAL STRAITS. Yesterday's Record of Bank and Business Failures RUTLAND, Vt., Aug. 14.-S. M. Dorr & Sons, who did a western bond and mortgage brokerage business here and ran a bank in Bristol, this state, filled petitions in insolvency today. Their liabilities are $142,875, with assets of the nominal value of $241,415. JACKSONVILLE, Fla., Aug. 14.-The Bank of Leesburg, Yager Brothers proprietors, assigned today. Liabilities, $40,000; assets, $90,000. The withdrawal of deposita forced it to shut down. SEDALIA, Mo., Aug. 14.-The Bank of Springfield, with a capital of $100,000, failed to open doors this morning. It is thought the bank will come out all right. BOSTON, Aug. 14.-W. H. C. Badger & Co., furniture manufacturers, have assigned. Liabilities, $100,000; assets, about $125,000. CHICAGO, Aug. 14.-A. R. Bach, a lumber dealer, with yards and offices in South Chicago, a-signed this morning to the Equitable Trust company. Assets, $511,000; liabilities, $250,000.

5. August 15, 1893 The Sun New York, NY

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TROUBLES OF THE BANKS. A Suspension in Springfield, Mo., and Time Notices in Other Places. SPRINGFIELD. Mo.. Aug. 14.-The Bank of Springfield made an assignment to Capt. C. B. McAfee this morning. Its stockholders are the Hon. J. F. G. Bently. J. W. Hall. B. F. Hobart. Benjamin A. Mossey. J. S. Ambrose. and James Stoughton. The liabilities are reported at $151,271.40. C. M. Everfol. Treasurer of the Board of Education of Springfield. had $11,300 of school money on deposit in the bank. The failure of the bank was due to the withdrawal of deposits. about $140,000 having been called for since the money stringency began. It is thought that the bank will resume business in about two weeks. There is a proposal to settle with the depositors by issuing certificates. NASHVILLE, Aug. 14.-The directors of the Elk and First National banks of Fayetteville. Tenn., to-day issued circulars assuring the public of their strength and solvency. but saying that they deemed it necessary that all deposits made previous to Saturday last should be subject to one check for $50 only. Certified checks will be given for all amounts over this sum. The bank of Winchester to-day gave notice to the depositors that they would be required to give sixty days' notice of their intention to withdraw deposits. The bank is said to be solvent. and this action was taken to prevent a run. The Board of Directors of the Commercial Bank and Trust Company of Pulaski to-day decided to require sixty days' notice from depositors. The People's National and the Citizens' National. also of Pulaski. acting in concert. decided to pay depositors within the next ninety days ten per cent. of deposits exceeding $10. and in no case more than $50. and authorized the cashiers to certify checks of depositors for the balance payable in ninety days. MEMPHIS, Tenn.. Aug. 14.-Neither the certifled check nor the Clearing House certificate system will be adopted by the Memphis banks. The reserve carried is from 55 to 93 per cent. of deposits. or an average of 70 per cent. The best information obtainable is that no possible contingency can arise by which the banks will be unable to pay dollar for dollar on demand. The Shelby County Savings Bank. one of the smallest institutions in Memphis. took advantage of a clause in its charter this afternoon. and announced that it would be necessary in the future for depositors to give ninety days' notice before they could withdrawtheir money. No apprehension is felt as to the solvency of the bank. KANSAS CITY. Aug. 14.-The banks of Fort Scott. Kan., began to-day paying certified checks over their counters instead of cash. They will continue to do so until the currency stringency is over. LITTLE ROCK. Ark.. Aug. 14.-At a meeting of the associated banks held. in this city this morning. it was unanimously decided to place certified checks in circulation. and also to limit the amount which any depositor may withdraw in one day to $20. TERRE HAUTE. Aug. 14.-The failure of the Prairie City Bank on Saturday started a slight run on the First National Bank this morning. All depositors who wanted money were promptly paid. The First National Bank is the largest in the city. and one of the strongest in Indiana. Before the day finished the run had nearly subsided PORTLAND. Ore.. Aug. 14.-D. P. Thompson. the receiver of the suspended Portland Savings Bank. filed his inventory in the Circuit Court this afternoon. This inventory shows total assets $3,014,000: liabilities. $2,475,000. The receiver says that if the bank 18 not pushed by creditors it will pay in full soon.

6. August 15, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, August 15, 1893

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Telegraphicalities. Greggains knocked Creedon out in the fifteenth round at Roby, Ind., last night. The Bank of Springfield, Mo., capital $100,000, failed to open yesterday morning. The daughter of ex-Attorney-General Garland has mysteriously disappeared from her home, in Washington city. The steamer Annie Paxon blow up yes. tèrday at Wade's Bar, near Portland. Ore., four persons being killed and a number wounded. The bank of Leesburg. Fla., Yaeger Brothers, proprictors, made an assignment yesterday. Liabilities, $40,000 and assets iully $90,000. Archbishop Satolli, Papal Legate to the United States. left Washington vesterday for New York to pay his much-discussed visit to Archbishop Corrigan. The Crescent Mills, at Denver, Col., the largest flouring-mills in the West, were burning at last accounts. The loss in consequence will be over $300,000. The A. R. Beck Lumber Company. Chicago, assigned yesterday morning to the Equitable Trust Company. The assets are placed at $511,000. the liabilities at $250,000. An unknown child perished in the Minneapolis fire of Sunday night, elsewhere reported. and Thomas Fallon lost his life from heart-failure due to excitement. W. F. Buchanan. president of the Coke county and Sutton county banks. Texas, that suspended a few days ago. was ar. rested yesterday, charged with embezzlement. May Brothers & Co., wholesale dealers in and manufacturers ot clothing, 90 west Fearl street, Cincinnati, assigned yesterday morning. Assets and liabilities about $100,000. Owing to the lateness of the hour when the Federal Senate adjourned yesterday the Republican caucus was postponed subject to the call of the chairman. Mr. Sherman. J. W. Storey, a white man employed as woodsman at a turpentine camp, was found murdered Sunday night on the outskirts of Lake City, Fla. He formerly belonged in Dooley county. Ga. The bodies of Mrs. George Reif, Miss Wagner. and Miss Nellie Webber, victims of Sunday's drowning disaster at Chattanooga, have been recovered. The body of Mrs. Charles Reif has not yet been found. At high noon yesterday a daring thief stole a bag containing $10,000 in gold which was lying at the window of the recelving teller of the First National Bank, of St. Paul, Mino., and escaped before any sort of pursuit could be organized. The Anchor-Line steamer Karamania. which arrived at New York August 3d, and which took the first case of cholera to that port this season, was released from quarantine yesterday morning and proceeded to her dock, having been thoroughly cleansed and disinfected. Three notable bills were introduced in the Federal Senate yesterday as follows: Mr. Hill, of New York, offered a very brief bill repealing the Federal election laws; the repeal, however, not to affect any proceeding or prosecution now pending under said act: Mr. Butler, of South Carolina, introduced a bill repealing the State-bank tax, and Mr. Peffer. of Kansas, introduced a bill providing for the issue of $300,000,000 of fiat money. exchangeable for government bonds at par.

7. August 15, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, August 15, 1893

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TELEGRAPHIC BREVITIES. Archbishop Satolli has gone to pay a visit to Archbishop Carrigan. Senator Butler of South Carolina has introduced a bill repealing the state bank tax. Fire at Pontiac, III., destroyed a brick public school valued at $30,000; insured for $16,760. The Vigilant won the run from Newport yesterday, beating the Jubillee and the Colonia two miles. In London yesterday, settlement passed off quietly. There is great scarcity of American railroad securities. The Republican senatorial caucus was postponed yesterday owing to the lateness of the Senate adjournment. W. H. C. Badger & company, furniture manufactures of Boston, have assigned. Liabilities, $100,000; assets about $125,000. The bank of Springfield, Mo., with a capital of $100,000 has failed. It is thought the bank will come out all right. John W. Mackay's condition has improved, and he probably will be able to leave the house in a few days. All danges is past. The anchor line steamer Karamania was allowed to proceed to union stores, Brooklyn, this afternoon to discharge her cargo. At Pottsville. Pa., the Hammond Colliery. breaker burned last night. Loss $150,000. Seven hundred men are thrown out of employment. A London telegram says the reports current in America that the queen has been stricken with paralysis is entirely without foundation. Senator Pfeffer of Kansas introduced a bill in the Senate for the issue of $300,000,000 fiat money exchangeable for government bonds at par. During a review of troops in Moabet barracks by Emperor William yesterday the wall of a building collapsed and seven people severely injured. At Milwaukee, another international bicycle meet began yesterday. Zimmerman won the half mile open in 1:13 3-5, and the mile international in 2:19 1-5. Sixteen hundred miners quit work in the mines of the Kansas & Texas company at Huntington today. Trouble is charged to agitation of the Kansas strikers. The Bank of Leesburg, Fla., Yager brothers, proprietors, has assigned. Liabilities $40,000, assets 90,000. The withdrawal of deposits forced it to shut down. A. R. Bach, a lumberman of Chicago, with yards and offices in South Chicago, has assigned to the Equitable Trust company. Assets, $511,000; liabilities, $250,000.

8. August 19, 1893 The Irish Standard Minneapolis, Saint Paul, MN

Article from The Irish Standard, August 19, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. WASHINGTON, Aug. 12.-Only two banks suspended yesterday, viz.: The National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, Ill. WASHINGTON, Aug. 13.-The bank. failures reported yesterday were: The Prairie City bank at Terre Haute, Ind., and Josiah Morris & Co., the leading private banking house in Alabama, at Montgomery with liabilities of $1,100,000 and assets of $2,000,000, the People's at Lewisburg, Tenn., the Bank of Plaquemine, La., and the First national at Gadsden, Ala. WASHINGTON, Aug. 15.-The comptroller received notice yesterday of the following failures: Citizens' national at Attica, Ind., Bank of Springfield at Springfield, Mo., and the People's, Citizens' and Commercial banks at Pulaski, Tenn. WASHINGTON, Aug. 16.-Notice was received yesterday that the Hartford bank of Phoenix, A. T., had assigned, and that Johnson, Buck & Co., bankers at Ebensburg, Pa., with branch banks at Carrolltown and Hastings, had closed their doors.

9. August 20, 1893 The Sun New York, NY

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Banks Resuming Business. WASHINGTON, Aug. 19.-The Waxahachie National Bank of Waxahachie, Tex., which suspended payment on Aug. 11, having complied with all the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. was to-day permitted to resume business. SPRINGFIELD. Mo., Aug. 19.-The Bank of Marionville, which is connected with the Bank of Springfield. both of which failed during the last two weeks. resumed business yesterday. and it is believed the Bank of Springfield will resume soon.

10. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, August 22, 1893

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the esodo (0 asumidro HOUSOCT company. GRAND RAPIDS Mich., Aug. 10 Rather than shut down entirely the furniture manufacturers in this city have determined to re duce the hours of work to eight and the working days in the week to five. The demand for E 07 Allenen SI 4 ITM third of the entire product, is scarcely nominal this season, and the Eastern and Southern trade is much reduced, leaving the actual demand little more than half the normal supply. B₃ re. ducing the hours of work it is hoped to give employment to all who have families to support for several months come. 04 VERNON, Texas. Aug. 11 -A district court has appointed a receiver for the Espula Land and Improvement Company. The company owns sixty thousand acress of land and thirty five thousand head of cattle. WHITE PLAINS, N. Y, Aug. 11.-Because of the tight money market. Bloomingdale Asylum workmen will not receive their two weeks' pay tomorrow. WOONSOCKET, R I., Aug. 11.-The Social Manufacturing Company, the largest and wealthiest cotton concern here, will next week begin to pay its help in checks drawn on the Clearing House at Providence SPRINGFIELD Mass Aug. 11 -The directors of the United States Whip Company voted last night to shut all the factories in the whip syndicate until August 28. The shut down is occasioned by the inability of the companies to dispose of their goods. COLORADO SPRINGS, Col. Aug. 11.The Broadmoor Land and Investment Company has gone into the hands of a receiver. The International Trust Company, of Denver, was appointed receiver at the request of the New York and London Investment Company, the principal creditors. The assets are $500,000 and the liabilities are 000 092$ NASHVILLE, Tenn, Aug. 11. The run on the Fourth National Bank was resumed. but the line of depositors was small. The bank continued to pay all checks presented up to half past eleven o'clock, when it was decided to pay all checks up to $100 and give certified checks for balances above this amount. MARSHALLTOWN, Iowa, Aug 11.The Hamilton County State Bank of Webster City closed its doors to day. The impossibility of making sufficient collections to meet the present demand of depositors was the onlise of suspension The assets are reported at $145, 000, the liabilities at $130,000 BELLEFONTE Aug 11 -The Valentine Iron Company will to morrow close down all their mines for an in definiteperiod. Thisaction will throw JO no new perpuny 00.141 atat enour employment AMSTERDAM, N Y., Aug 11.-The Stewart Knitting Mills will close on Saturday night Mr. Stewart says the uoo the se uces SC uedo 0.1 IIIM smills ditions of the market warrant such a course. The Liddle Knitting and Green Knitting Companies' mills have shut down. The mill of Gardiner & Warring will shut do vn when when the goods now in process of manufacture are run out EAST LIVERPOOL, Aug. 11.-The twenty nine potteries in this city have been slow to feel the ffects of the stringency of the money market, but within the past few days most of them have begun to realize that they cannot longer keep in operation except at a loss. It is probab there will be a general shutdown within the next few weeks, throwing not less than three thousand persons out of work. Knowles, Taylor & Knowles, employing seven hundred men, have already closed down. MONTGOMERY, Ala, Aug. 14.-E. Timble & Co., private bankers, have assigned. Their bank is small. SPRINGFIELD, Mo., Aug. 14 -The Bank of Springfield, with a capital of $100,000, failed to open this morning. O'NEILL, Neb., Aug. 13 Friday, Aug. 4, Barrett Scott, County Treas urer of Holt county, left O'Neill for Sioux City. His continued absence and the fact that less than $20,000 of the $90,000 which should be on hand in the banks of the county, and $15,000 of that in the defunct Holt County Bank, forces the belief that he has ab sconded. MONTGOMERY, Ala., Aug. 14,-Busi ness opened here as usual to day, the assignment of Josiah Morris & Co. pro ducing no run on any other bank, and there is no apprehension of such a thing. B. Trimble & Co., private bankers, assigned. Their business is small, and the assignment created no excitement or trouble. The entire business element and community are receiving the clearing house certificates. CINCINNATI, O., Aug. 14 -May Bros. & Co., wholesale dealers and manufacturersof clothing, 90 West Pearl street, asssigned this morning. Assets and liabilities about $100,000. JACKSONVILLE, Fla., Aug. 14.-The bank of Leesburg, Yáger Bros., proprietors, made an assignment to day. Its liabilities are about $40,000, and assets fully $90,000. A steady withdrawal of deposits during the past ten days forced it to shut down. Depositors will be paid in full, but it will take a year or more to realize on assets. PULASKI, Tenn., Aug. 14. The Peo ple's Bank, the Citizens' Bank and the Commercial Bank and Trust Company

11. August 24, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, August 24, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. WASHINGTON, Aug. 11.-The following bank failures were reported yesterday: The American national at Nashville, Tenn., the Hamilton county state bank at Webster City, la., the Caldwell county exchange bank at Kingston, Mo., the Exchange bank at Polo, Mo., and Johnston, Buck & Co., of Ebensburg, Pa., conducting banks at Ebensburg, Carrollton and Hastings. WASHINGTON, Aug. 12.-Only two banks suspended yesterday, viz.: The National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, III. WASHINGTON, Aug. 13.-The bank failures reported yesterday were: The Prairie City bank at Terre Haute, Ind., and Josiah Morris & Co., the leading private banking. house in Alabama, at Montgomery with liabilities of $1,100,000 and assets of $2.000,000, the People's at Lewisburg, Tenn., the Bank of Plaquemine, La., and the Firstnational at Gadsden, Ala. WASHINGTON, Aug. 15.-The comptroller received notice yesterday of the following failures: Citizens' national at Attica, Ind., Bank of Springfield at Springfield, Mo., and the People's, Citizens' and Commercial banks at Pulaski, Tenn.

12. August 24, 1893 The Farmers' Union Memphis, MO

Article from The Farmers' Union, August 24, 1893

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FINANCIAL AND INDUSTRIAL -Mr. Devlin. of the Santa Fe Road. has settled the Kansas miners' strike by offering a fractional increase. --Makers of lug tobacco are said 10 have formed a combination to defeat the socalled cigarette trust -Hoarded money is being brought out and currency premiums are disappearing The crisis is thought to be at out over. -Ohio banks refuse to cash checks of the Standard Oil Company because of the scarcity of currency. For years these checks. with which the employes are paid off, have been used as currency in Northwestern Ohio. -The Williamsport (Pa.) Machine Company notified its 100 mechanics that a 10 per cent. reduction will 20 into effect Monday. The cau-e given is tight money and hard times. -Retail merchants of Chicago unite in saying that business down-town is better than ever before. -Only seventy-five of the 700 coalminers about Levington. Mo, are now at work, and efforts are being made to induce them to strike. The miners have quit partly out of sympathy for Kansas strikers and partly to redress their own grievances. -The A. R. Beck Lumber Company, with yards and offices in South Chicago, has assigned. Assets are $621,000 and liabilities $260,000. -The Bank of Springfeld, Mo., with a capital of $100,000. failed to open. The St. Louis and Fan Francisco Rai road generally had a large deposit in this bank. May Brother: & Company. Cincinnati, Ohio, wholesale dealers and manufacturers of clothing. assigned. Assets and liabilities about $100,000. -N. R. Frost. a real estate dealer at St. Paul. has failed. with liabilities of $125,000. -On application of the Farmers' Loan and Trust Company. receivers have been appointed for the Northern Pacific Road. -C. O. Rice & Co., of St. Paul. dealers in carpets and wall paper, have made an assignment. Assets are $75,000 and liabilities $112,000. --The liabilities of Louis F. Menage, who recently failed at Minneapolis, are scheduled at $1,309,727. and the assets $4,379,208. -R. G. Dun & Co.'s Weekly Review 01 Trade says: ,he long desired meeting of Congress, a President's message which fully answered expectations, and the arrival of $13,280,000 in gold from Europe, with $10,000,000 more on the way. have not brought the improvement many anticipated. Stocks are stronger. but failures continue; so does the closing of industrial establishments; idle hands multiply and silent shops. and the disorganization of domestic exchanges is even greater than a week ago. There has been no startling crash, but the formal failures of banks are becoming more com mon. The machinery of exchanges has almost stopped. The root of the trouble is that over $131,000,000 of deposits had been withdrawn within two months from part of the national banks and probably $177,000.000 from all. bosides unknown sums from savings. State. and private banks A pre-

13. September 9, 1893 The Weekly Intelligencer Lexington, MO

Article from The Weekly Intelligencer, September 9, 1893

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Another Bank Resumes. SPRINGFIELD, Mo., Sept. 5.-The Bank of Springfield which suspended a few weeks ago, resumed business yesterday morning on a solid foundation and the event was the occasion of much good feeling throughout the city.