National Exchange Bank (Baltimore, MD)

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Episode Information

Episode UID
110901250
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
11090 national
Charter Number
1109
Start Date
February 6, 1904
Location
Baltimore, Maryland (39.290, -76.612)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
53a1dbfea2383096

Response Measures

None

Description

Bank was one of several national banks burned in the Baltimore conflagration and closed under the governor's proclamation.

Events (4)
1. May 3, 1865 Chartered
Source
historical_nic
2. February 6, 1904 Suspension
Cause
Government Action
Cause Details
Governor Warfield's proclamation (banking holiday) following the great Baltimore fire; bank's vaults/building were burned.
Newspaper Excerpt
The Banks Burned. Among the banks which were burned are the National Exchange ...
Source
newspapers
3. February 24, 1904 Reopening
Newspaper Excerpt
The holiday period for Baltimore as fixed by Governor Warfield has expired and the local banks will resume business today in all branches for the first time since the conflagration.
Source
newspapers
4. December 29, 1923 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (15)
1. August 18, 1892 The Jersey City News Jersey City, NJ
Article from The Jersey City News, August 18, 1892

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DISMAL SWAMP CANAL SOLD. New Jerseymen Acquire for $10,000 Property Which Cost $1,500,000. BALTIMORE, Aug. 18, 1892.-The celebrated Dismal Swamp Canal of Virginia has been sold at public auction by Theodore S. Garnett, trustee to Walter B. Brooks, Jr., of Baltimore, for $10,000 cash for the firm of Ross & Sandford, contractors, of Newark, N. J. The sale was made under a deed of trust made by Eugene T. Lynch and John C. Short, doing business under the firm name of the Norfolk & North Carolina Canal Company, in favor of the Exchange National Bank, William Peters, receiver. They transferred all of the property. Mr. Brooks said yesterday that the canal would be improved and opened by a syndicate composed of J. B. Sanford and P.S. Ross, of Newark, and Alexander Brown, Stephen Bonsal, William H. Bosley and Walter B. Brooks, Jr., of Baltimore. It is understood that the timber lands along the canal will be developed. The history of the canal is very interesting and dates back to the time of George Washington, who was the originator of the ditch. The casal costs $1,500,000, and it is a matter of great wonder in Nortolk and Tidewater, Va., that it should have sold for so small a sum and be allowed to go into the possession of people outside the State.

2. December 28, 1900 Daily Inter Mountain Butte, MT
Article from Daily Inter Mountain, December 28, 1900

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Baltimore, Dec. 28.-Because of the appointment of a receiver for the Old Town bank. a general run was made on all of the city banks. It was soon stopped.

3. December 28, 1900 Daily Inter Mountain Butte, MT
Article from Daily Inter Mountain, December 28, 1900

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CONDENSED TELEGRAMS San Francisco, Dec. 28.-Many ships are overdue at the port here, and much anxiety is shown in the shipping interests. Helena, Dec. 28.--The postmaster of East Helena was held up by footpads, Christmas night, and robbed of 65 cents, all he had. Chicago, Dec. 28.-The police claim to have evidence that Crowe, the Omaha kidnaper, spent some days here, masquerading as a woman. Helena, Dec. 28.-A coroner's jury decided that the death of Nicholas Kohr, who fell from the state capitol building was due to his own carelessness. Baltimore, Dec. 28.-Because of the appointment of a receiver for the Old Town bank. a general run was made on all of the city banks. It was soon stopped. Washington, Dec. 28.-The war department has purchased the large transport Samoa, now in the Pacific, for transporting the volunteer army home from Manila. Barre, Vt., Dec. 28.-The chief of police here, after quelling a row at an Italian ball, was shot by two or three assailants, as he left the hall, and will probably die. Washington, Dec. 28.-Reports say that the rebels are being steadily defeated in Colombia, South America, and that the governmen t is steadily gaining strength. San Francisco, Dec. 28.-The new Oceanic steamer Sonoma, made a record breaking run of 38 days and 9 hours around the Horn from Philadelphia, where she was built. Fargo, N. D., Dec. 28.-The Russian settlers in McHenry county are suffering severely from hunger. They came too late in the year to raise crops to feed themselves through the winter. Phoenix, Ariz., Dec. 28.-A lone highwayman held up the stage near Hot Springs, yesterday, getting $50 from the private express box, and it is reported a large quantity of gold dust. Washington, Dec. 28.-Nothing is known at the White House of the reported invitations to the Kaiser and the Prince of Wales to attend the yacht races next fall, the guests of the nation. Pittsburg, Dec 28.-A strike in the Barnesboro district, because of the introduction of machines in the mines, bids fair to spread over the whole of the anthracite country. Washington, Dec. 28.-It is expected that the Hawaiian legislature will take action to pay the claims of the Chinese and Japanese who lost property in the

4. October 21, 1903 Bismarck Daily Tribune Bismarck, ND
Article from Bismarck Daily Tribune, October 21, 1903

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NO FURTHER FAILURES. Baltimore Financial Institutions Continue Business. Baltimore, Oct. 21.-All the banks and other financial institutions in Baltimore were opened promptly at the customary hour of 10 o'clock and those who may have had any fears that the beginning of the monetary day would be signalized by the announcement of other trust companies following in the wake of the Maryland and Union companies were agreeably disappointed. Not only did every institution open but among local financiers generally there was a uniform expression of confidence that no other suspensions are now probable and that what ever of panicky feeling was manifested the previous day has practically disappeared. It is true, however, that while the financiers themselves and the brokers and bankers around South and German streets maintain an air of serene confidence, there is a degree uneasiness in the popular mind expected that this feeling may a more voluminous withdrawal of ieposits during the day than usual. But there is no reason for anticipating that there will be anything like a run on any of the banks.

5. February 9, 1904 The Washington Times Washington, DC
Article from The Washington Times, February 9, 1904

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OUTSIDE BANKS TO AVERT PANIC Hundreds of Thousands in Buried Vaults. NEW YORK OFFERS ITS AID Clearing House Extends Unlimited Credit and Funds to Baltimore Business Interests. BALTIMORE, Feb. 9.-Buoyancy was supplied to the situation among the bankers and the moneyed interests of the city today by the zeal and readiness displayed by banks and financial institutions in other cities to lend aid in any sum. An offset to the temporary paraylsis produced by the destruction of fourteen banks and the temporary withdrawal from circulation of hundreds of thousands of dollars which is in vaults that are buried in the debris, came when the clearing house met this morning.* Unlimited Credit. A dispatch received from the New York clearing house was read. The New York institution offered to give the Baltimore banks unlimited credit and funds. Following this, Craig Colgate, representing Halsey & Co. and the First National Bank of New York, arrived in the city. Mr. Colgate immediately sought Mayor McLane, and said to him: "Mr. Mayor, I am empowered to lend to the city any sum you need up to $1.000,000. You may have it on demand, and keep it as long as you like." Mayor McLane expressed his appreclation of the proffer and promised to avail himself of it if necessary. The Banks Burned. Among the banks which were burned are the National Exchange, National Marine, Mechanics' National, Merchants' First National, Third National, Farmers and Merchants'. and the Union National Plans are being laid to begin the work of resurrecting the bank vaults and recovering the treasures within them. This task can hardly be begun before tomorrow. By that time the ruins probably will be sufficiently cooled to permit of excavation operations.

6. February 11, 1904 Evening Star Washington, DC
Article from Evening Star, February 11, 1904

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S BUSY Money is Pouring in for Business Resumption. , GEN. RIGGS EXPLAINS PLANS FOR REBUILDING ALONG MODERN LINES Composite Estimate of Loss Placed at $85,000,000-No Troops Sent to the City Yet. Special Dispatch to The Evening Star. BALTIMORE, Md., February 11 -Phoenix-like Baltimore will arise from its district ashes, and in a few years the burned will again be a scene of great activity. For the past three days the population has been dazed by the appaling catastrophe. The people could not come to realization that the mainspring of the city's commercial and financial world had been destroyed. Now, however, the realization has come and with it a determination to restore and the city's eminence as a commercial financial center. Already a number have of leading merchants and amnufacturers commissioned architects to draw up plans for new structures. In some instances with contracts have already been signed builders. Thousands for Clearing Work. The work of clearing away the debris be proceeded with as rapidly as poswill sible. Arrangments are now being made put by the building inspector's office to burned of men to work in the district. thousands The Baltimore and Ohio, NorthCentral and Philadelphia, Baltimore engaged ern and Washington railroads are now into in laying temporary tracks running running district, for the purpose of great the which will be loaded the gondolas of on wreckage. This debris will and be carried mass to points yet to be designated unloaded. there the intention of the city officials city to It is first that portion of the bounded clear up by Baltimore street on on the the north, east on the south, Holiiday of about Pratt on the west, an area were 10and Liberty Within this section and 300 acres. the principal wholesale houses the first cated and they will be given that the factories, to rebuild, in order motion opportunity of progress may be set in again wheels at the earliest opportunity. Wholesale Traders Busy. Many of the larger wholesale southern houses, trade, secured offices just as have which already have supply an enormous their customers and never are in oc- a position expeditiously to as if the fire had curred. stated by a prominent wholesaler condition today It was that the larger firms once. are and in while the to meet cannot all orders be supplied at here they facility will be rushed goods through with the element greatest lies in the Another encouraging have given asthat the underwriters will be paid in fact that all the losses trepidasurance There had been considerable assurance full. point, and when that came tion on it this had much to do with restoring of confidence. feeling too, the wealthy men of the for city reThen, to give liberally the show a disposition sum is now at lief work, and large The financial situation, mayor's is brightening, disposal. and confidence in that too, direction is being restored president of the Mr. John Mechanies B Ramsay, Bank, and one of The the foremost National financiers of the city, said to Star correspondent today: into Money Pouring Into City. city to meet in general the "An men abundance and the all of community money current is needs. pouring Tempo- Business at once dispel all anxiety. by all the should rary offices are being were opened wrecked, and in so banks whose homes far as the banks Until few days business, will go on as before be outthe vaults is being obtained opened, are a concerned, money in the different banks from can has of-town sources City Bank of New York, the "Why, bank it offered to the supply need. every My bank here received all and money it may from New York, will all be banks are doing the quarters. $1,000,000 yesterday Other paid out from our temporary anxiety same thing. there is considerable the question of "I know men on occasion among business money, but there is no As an inmight getting for this lack of confidence. cite the Philadelphia, railroad. stance, Baltimore I and Washington to me Tuesrepresent ative came we going to Their asked 'Where are ddesday? money for our pay office, I day get Right and here at our temporary day replied. Suspension Order Causes Uneasiness. anxiety orig"I suppose this governor's feeling of ten-day legal from the That action was inated proclamation phases of holiday the legal have only to cover might taken sactions that could get financial transac until the banks quarinto working to be delayed shape in temporary finanters. there need be no fear coming of a into "No, stringency. Millions insurance are companies cial fire merwill expedite Then, too. of chants the city. to resume The payments rapidly out-of-town to enable capital mil- of lions of attracted dollars by the opportunity offices, builderecting will be new structures, and manufacturing arehouses dest royed ones. I ings, to replace the great disaster, but "The fire effect a great not one of here. of believe plants enterprise it will was mournful I am view awakening big the situation. of those who take There a is going to be a district burned there will boom. "In rebuilding ortunity the for the city to into put section. be an execution The old plans with ramshackle for modern beautifying build- structhat will be replaced Baltimore will rise deings and thus a new I think all the stroyed sites there tures, from the area ashes. will Do be are quickly too valuable rebuilt? to Certainly; long unoccupied." Mr. remain Fire Will Prove a Blessing by herein men. The views reflect expressed those of other and, prominent indeed, bankers Ramsay and those business who now regard disguise. the They conthere are blessing in into flagration as Baltimore had fallen ostastrophe rut, ergue and that that just such a

7. February 12, 1904 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, February 12, 1904

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# Council Will Meet To-night to # Consider This and Other # Matters. # Banks Resumed Business This # Morning and Paid All Checks # Presented. # Insurance Companies Have Now # Paid $10,000,000 in Losses # -More Ready. Baltimore, Feb. 12.—Baltimore is gradually resuming its normal condi- tion. All the banks opened to-day in their temporary quarters, at the usual banking hours, well supplied with funds to meet the demands for weekly pay rolls and for all ordinary needs of those who have money on deposit. Hundreds of depositors presented checks, and all were promptly cashed. Monday the regular clearings will begin, and general banking operations will be resumed. The vaults of all the national banks in Baltimore have now been opened, the last one having been inspected to-day, and in each the contents were found to be safe. To minimize the hardships under which the inhabitants now suffer, Mayor McLane and his municipal associates have decided temporarily to suspend the collection of taxes and water rents, it having been discovered that the city has enough money on hand, the result of large collections in January, to meet all requirements for some time to come. The mayor has called a special session of the city council to-night to consider legislation as to a realignment of public thorofares in the burned district and the reconstruction of public buildings. # Insurance Claims Paid. Several insurance claims were paid to-day and leading agents here say that at least $10,000,000 has already been paid out and that many millions in checks have been received here and are now on deposit ready to be paid out after some partial adjustments have been made. The big companies have deposited a much larger amount in New York subject to the order of agents. Squads from the street cleaning department started into the burned dis- trict this morning and the work of pulling down walls, removing debris and digging out safes was resumed. Marshal of Police Farnam reports that there have been fewer cases of robbery or lawlessness in the city since the fire than before, so well is the city patrolled. # Message From the Pope. Among the messages of sympathy received was a communication from Mgr. Falconi, the apostolic delegate at Washington, containing the following from the pope: His holiness, deeply moved by the news of the great calamity which has recently visited the city of Baltimore, desires your excellency to convey to the honorable mayor and the people of Baltimore his sincere sympathy. He prays that they can stand the severe loss their city has suffered, and that it will continue to pro- gress. -Cardinal Merry del Val. # No Outside Aid Needed. At a conference held to-day between the mayor and the citizens' committee it was decided that no call would be made for outside as- sistance. If it is found necessary later on the municipality will float a loan to meet all needs.

8. February 12, 1904 New-York Tribune New York, NY
Article from New-York Tribune, February 12, 1904

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NewDork Daily Cribence FRIDAY, FEBRUARY 12, 1904. the NEWS THIS MORNING. FOREIGN.-The Russian Baltic Sea fleet have has There may started been a for third the sea Far fight; East. the Admiral dispatches Alexieff do was not this clear. make to the supreme command of Far the East. Russian appointed both land and sea, in the of forces, St. Petersburg reports bombardments saying Arthur on Tuesday and Wednesday, suffering Port fleet withdrew after is renewal of the as the Russians expected, severe that the losses; Japanese however, a Arthur; bombardment were the tearing report buildings in Port Manchurian of down the high blowing up of a bridge on the The is confirmed from Tien-Tsin. Railway censorship still prevails at the St. strict press and in the absence of news battles Petersburg, is fed on all sorts of stories of populace by sea and land and Russian victories. the Japanis great rejoicing in Tokio over paThere victories: on Wednesday night crowds ese streets with bands and transparencies; were cheered The Mikado has a the peared. the raded British the wherever issued and giving they procla- apofficially declaring war Constantinovitch mation therefor. Nikolai and reasons Mikhaflovski, the Russian critic, author Four publisher, died at St. Petersburg. were drowned off the coast of the Luzon, P. of a small boat in a storm; setting Province Americans of Tayabas, men. I., by two the were upteachers and two medical Roosevelt issued a directing citizens of war strict neutrality in proclamation States DOMESTIC.-President to observe the the Senator United between Russia and Japan. Hanna's condition was reported by his physiclans to be extremely serious, his temperature caused pulse having increased and the fever greater and weakness. The State Railroad Commissioners made sweeping recommendations street the better management of elevated and for railroad traffic in Manhattan and Brooklyn. Baltimore banks resumed business; sev- is eral streets were cleared of debris; the The city Rev. not likely to need outside aid. Dr. Richard H. Nelson, of Philadelphia, was Alchosen Bishop Coadjutor of the Diocese of The American Exchange National Bank bany. of Syracuse, was closed by a National Bank Examiner. Swollen rivers in Penn- A sylvania flooded factories and homes. bold attempt was made to dynamite a bridge at Conn., the result, most probably. of labor troubles. Ansonia, Six "cattle kings" were arrested for fencing-in government lands. CITY-Stocks were dull at email net the A victory was gained in transfer changes. fight, the Interurban giving transfers A et the four chief points in dispute. permanent receiver was appointed for the NewYork Building Loan Banking Company. brought to make the United States pay a on Steel A suit Corporation was dividend the Japanese its common stock A speech by Minister, Kogoro Takahira, defining Japan's for warring with Russia, was read at of the Silk to the wife of reasons vorce the dinner was granted Association. DeWitt fifteen A Clin- min- d1ton West, after a jury deliberated Chief Croker was in command fire near the a at utes. threatened a spectacular Fire block It was waterfront learned that that Mayor McClellan approved a plan to connect by the Manhattan ends of the two big bridges It was reported an elevated structure. that a number of small insurance companies which suffered heavily by the Baltimore fire would be absorbed by larger ones. THE WEATHER.-Indications for to-day: Fair. The temperature yesterday: Highest, 27 degrees; lowest, 11.

9. February 16, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, February 16, 1904

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BALTIMORE BUSINESS IS GROWING STRONGER. A. Cheerful View Is Taken of the Situation There. Baltimore, Feb. 15.-The business situation was given a most cheerful aspect to-day by the resumption of operations by the Clearing House Association. the first since Feb. 6, and was materially strengthened by the fact that the banks showed up in splendid condition, the clearings being about three times the normal daily amount. Another incident which gave emphatic stimulus to public confidence was the opening of all the savings banks, there having been a run on none of them and all receiving substantial deposits. One of them has 25,000 depositors, with total deposits of $25,000,000 and the withdrawals from this institution were normal. The decision of the Stock Exchange to postpone resumption of trading until Feb. 24 is also an action which is generally approved, as the postponement will give ample time for determining values of securities. That conditions have become much less critical than they were a day or

10. February 17, 1904 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, February 17, 1904

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CONDITIONS BECOMING NORMAL. Business at Baltimore Assuming a More Hopeful Aspect. Baltimore, Feb. 16.-The business situation was given a cheerful aspect Monday by the resumption of operations by the Clearing House association, the first since Feb. 6, and was materially strengthened by the fact that the clearings were about three times the normal daily amount. Another incident which gave an emphatic stimulus to public confidence was the opening of all the savings banks, there having been a run on none of them, and all receiving substantial deposits. The decision of the Stock Exchange to postpone resumption of trading until Feb. 24 is generally approved, as the postponement will give ample time for determining values of securities. There is an abundance of money in Baltimore. Since Saturday morning more than $3,000,000 in small notes and silver coin has been received at the United States sub-treasury. Fifteen companies of militiamen were ordered home Monday, it having been decided by Mayor McLane that there was an excess of soldiers around the fire district.

11. February 19, 1904 The Kimball Graphic Kimball, SD
Article from The Kimball Graphic, February 19, 1904

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# BIG FIRM FAILS. Baltimore Insurance Comp-- Coulu Not Recover From Effects of Fire. Baltimore, Md., Feb. 17. Richard F. Post was appointed receiver for the Peabody Fire Insurance company of Baltimore. The company lost $700,000 by reason of the fire. It had assets of only $300,000. The authorities have decided the fif- teen companies of troops now policing the fire district are no longer needed and the guards have left for their homes. All the savings banks opened for business today. Deposits were made at all of them. The clearing house resumed opera- tions today. Business will be conducted as usual by the banks during the per- iod of the holiday, with the exception of forced payment of notes. All banks are well supplied with money.

12. February 23, 1904 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, February 23, 1904

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# News of the Day. President John F. Smith and seven of the 12 Mormon apostles have been summoned as witnesses in the Smoot case. Mr. Frank Ehlen has been appointed receiver by Judge Morris in the United States District Court, of Baltimore, for the Queen Anne, Maryland, Railroad Company. The holiday period for Baltimore as fixed by Governor Warfield has expired and the local banks will resume business today in all branches for the first time since the conflagration. The blowing up of a Pennsylvania Railroad locomotive at Ehrenfeld, Pa., last night, caused the death of three men and the probable fatal injury of two others. All were railroad employes. A telegram from Tsienan-Fu, capital of the province of Shantung, China, states that hundreds of lives were lost by the bursting of a dam in the Huangho river and that several villages have been destroyed. Six men, including Capt. Harvey McClelean, and Mate John McCumber, were lost yesterday in the wreck of the three-masted schooner Benjamin C. Cromwell, off Bellport, L. I. Two men of the eight on board came ashore on bits of wreckage and were taken to the Bellport life-saving station exhausted. Anna T. French, who for several months was the maid of Mrs. Payne, wife of Postmaster General Payne, in Washington, was arrested yesterday afternoon at the home of friends in the Park Slope district, Brooklyn. It was announced at the Brooklyn detective bureau that she turned over the jewelry worth $1,800 and $55 of the $150 in cash that was stolen from the Payne apartments in Washington last Thursday. Having lost $600,000 by the fall in steel, Mrs. Maria T. Kunzman committed suicide in New York yesterday.

13. February 24, 1904 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 24, 1904

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# BANKS OF BALTIMORE # RESUME BUSINESS BALTIMORE, Feb. 23.-The banks in this city resumed business to-day in all their branches for the first time since the fire. Under Governor Warfield's proclamation the enforced payment of protest-able paper has been suspended from Feb. 6, thus making it necessary for all who have matured obligations to take care of them before the close of banking hours to-day. The Baltimore Stock Exchange will not resume until to-morrow.

14. February 26, 1904 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, February 26, 1904

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BALTIMORE BANKS RESUME. All Branches of Business In the Bal. timore Banks Were Resumed Tuesday. / Baltimore, Feb. 24.-The banks in this city resumed business Tuesday, in all their branches for the first time since the fire. Under Gov. Warfield's proclamation, the enforced payment of protestable paper has been suspended from February 6, thus making it necessary for all who have matured obligations to take care of them before the close of banking hours Tuesday.

15. February 26, 1904 Twice-A-Week Plain Dealer Cresco, IA
Article from Twice-A-Week Plain Dealer, February 26, 1904

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# Banks Resume Business. Baltimore, Md., Feb. 24.-The banks in this city resumed business Tuesday in all their branches for the first time since the fire. Under Gov. Warefield's proclamation the enforced payment of protestable paper has been suspended from February 6, thus making it necessary for all who have matured obligations to take care of them before the close of banking hours. The Baltimore stock exchange will not resume until Wednesday.