11909. American National Bank (Omaha, NE)

View Charter #4087 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4087
Charter Number
4087
Start Date
June 13, 1893
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
a015988a73fe18a5

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension, Full suspension, Books examined

Description

Multiple newspapers report heavy runs on Omaha savings banks precipitated by the failure of the McCague Savings Bank and the entanglement of American National with the McCagues. Comptroller closed the American National on June 13, 1893; the bank was later authorized to reopen and resumed business in early September 1893. Cause of the run is linked to failure/distress of a local bank (McCague), not to a discrete false rumor.

Events (5)
1. August 2, 1889 Chartered
Source
historical_nic
2. June 13, 1893 Run
Cause
Local Banks
Cause Details
Runs on Omaha savings banks were precipitated by the failure/suspension of the McCague Savings Bank and concern over its connections with American National.
Measures
Other banks met demands with cash; some savings banks invoked 60-day notice to check withdrawals.
Newspaper Excerpt
There was a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday
Source
newspapers
3. June 13, 1893 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency (and clearing house refusal to assist) took the bank into custody and closed it.
Newspaper Excerpt
The American National Bank was closed by order of the Comptroller of the currency this morning
Source
newspapers
4. September 7, 1893 Reopening
Newspaper Excerpt
The American National bank of this city resumed business today after a suspension since June 13./Comptroller ... authorized the American National bank of Omaha ... to reopen on Sept. 1 (authorized earlier); resumed Sept. 7 according to contemporary reports
Source
newspapers
5. February 25, 1896 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. June 13, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, June 13, 1893

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TELEGRAPHIC BREVITIES. The State Bank of Crystal Falls, Mich., has suspended payment. S.G. Love, a lineman of a St. Louis electric light company, was roasted to death while at work yesterday evening on a pole. Seven more deaths occured yesterday from the choleraic disease that is prevailing at the town of Alais, in southern France. This is a total of 16 deaths for two days this week. There was a run on every savings bank in Omaha this morning, precitated by the failure of the McCague Savings Bank yesterday followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. Frank Dillingham sneaked into the house of Mrs. Wolcott, in New York this morning and stole a lot of jewelry valued at $1,600, but his noise attracted the attention of Miss Wolcott and her mother, who seized Dillingham, when he threw away his plunder and escaped. He was subsequently caught by an officer. The jewelry was recovered. Excitement was caused inJeremia and Jacmel a few days ago by a false report that Manigat had landed in Hayti with a large following and was marching towards Port au Prince, but the prompt action of the commandants of both towns mentioned prevented any uprising. It is reported that Gens. Morales and Manigat have come to some understanding and it is likely that a joint attempt will be made to overthrow Heureaux, of San Domingo, and Hyppolyte, of Hayti. In the Borden trial at New Bedford, Mass., to-day Dr. Dolan said that the blows were made by a sharp instrument and some on Mrs. Bordon by an assailant astride the body. Dr. Wood stated that examination showed no blood on the claw-hammered hatchet or axe or on the blue dress. The hair found on this hatchet was not human. The white skirt showed a small blood spot which probably came from outside and was human blood. The shoes and stockings and dining room door casing had no blood spots. The handieless hatchet had no blood. The break in its handle had no dust. The handleless hatchet had dust like ashes on the blade tightly adhering. While Mrs. Patterson's sixteen-year-old son was cleaning his rifle at Morava, Iowa, to-day it was accidentally discharged, the bullet piercing his mother's heart, causing inst nt death. Young Patterson had to be restrained from committing suicide, so great was his grief. The mangled body of Gustave Koenig. a well known young business man of St. Joseph, Mo., was found beside the railroad tracks yesterday morning. He had been murdered and robbed, after which the body was laid on the track to cover up the cause of death, George Williams, colored, charged with an assault on 2n eight-year-old negro girl near Waco, Tex., was captured yesterday by negroes who say Williams afterward escaped. It is believed the negroes lynched Williams. The fight between Billy Woods, of Coloraand "Buffalo" Costello, of Australia, at

2. June 14, 1893 New-York Tribune New York, NY
Article from New-York Tribune, June 14, 1893

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WESTERN CITIES-FINANCIAL FLURRIES IN OMAHA. KANSAS CITY AND DETROIT. Omaha, Neb., June 13.-There was a run on every savings bank in the city this morning cipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the Clearing House Association would stand by its members, of which the American National is one. but when the assets of the American National Bank came to be examined, they were pronounced not good enough. and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning, and the crowd which had collected became greatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank. the American Savings Bank, the Globe Loan and Trust Company and other institutions there was a steady drain of deposits all morning. Cash was paid out as soon as called for, and there was no apparent limit to it Toward noon the lines had dwindled until they appeared no larger than upon any day of business. Bank Examiner Griffith. who took charge of the American National for the Controller this morning, could not say much about the assets. A great deal of paper, which is thought not to be first-class, figures in the resources of the bank. The talling of in deposits amounted to nearly $200,000 since May 4. and this has badly crippled the institution. The Dime Savings Bank compellid its depositors to give sixty days' notice of withdrawal. This action. together with the promittness with which the other banks met all demands, is believed to have stopped what almost promised to be a panic. The last statement of the American National Bank, on May 4. showed a capital stock of $200,000: loans and discounts, $531,690: surplus, $16,000; undivided profits, $5,161 : due depositors. 8577,526. The American Savings Bank took advantage of the sixty-day rule and refused to pay depositors. The Globe and Trust Company paid off 50 per cent of the deposits and held the balance under their rules. The run on the Omaha Savings Bank continued in force this afternoon. and hundreds of depositors crowded the bank and the street in front Senator Manderson and Vice-President Kimball. of the Union Pacific. directors of the bank. made extended speeches to the crowd, and announced that the bank was prepared to pay every dollar, but the run continued Kansos City, JULC 16.-As a result of the aus. pension vesterday of the People's Savings Bank, an insignificant institution with deposits of only $25,000. a run was started this morning on the Kansas Safe Deposit and Savings Bank. The bank took advantage of that clause of its bylaws requiring depositors to give thirty days' notice of the withdrawal of deposits. That checked the run, and at noon it was practically a over. None of the other banks experienced run. Just why the Kansas City Safe Deposit and Savings Bank should have been selected for a run is a mystery. If is the largest and one of the soundest institutions of the kind in the whole State, and has the confidence of the banks and merchants generally Nankato. Kan., June 15.--The Bank of Bur Oak. Jewell County. closed its doors yesterday merning. The bank was owned by Halbert Brothers. and the liabilities are placed at $35,000 The assets are practically nothing. C. D. Hulbert. one of the proprietors of the institution, has fled The depositors are greatly incensed, and if he should return. either of his own accord or to answer to a criminal charge, there being some inclination among the depositors of preferring such a charge. he would be roughly dealt with Lansing, Mich., June 3.-State Bank Commissioner Sherwood yesterday applied to the Circuit Court for the appointment of a receiver for the Ingham County Savings Bank, which failed several weeks ago. An order was made to show cause why such action should not be taken. returnable June 24. The bank officers yet hope to obtain necessary subscriptions to the capital to warrant a reopening Advices have been received by Mr. Sherwood from Crystal Falls, Upper Michigan, that the State Bank of Crystal Falls has suspended payment. The bank was organized about a year ago with a capital of $25,000. it had deposits of $60,000. The cause of the failure was the suspension of the Plankinton Bank of Milwaukee Detroit, June 13.-For some time there has been an uneasy feeling in the banking atmosphere of this city occasioned by the numerous failures in savings institutions that have recently occurred throughout the country, especially in the West. Although until this morning there had not been a decided run on any of the savings banks of Detroit, considerable money has been withdrawn in a quiet way. and to forestall any movement that might result disastrously to them. and as an act of mutual protection, the officers of these institu. tions met last night and adopted the following notice to depositors: There has recently been developed in our city an un. easiness among savings de positors. which has been (without cause) directed against some of our -trongest banks To stop the needless withdrawal of deposit. and the lock. ing ⑉2 of currency in time of financial stringency. the undersigned banks respectfully decide. in the event of unusual demands upon them, and to insure equal protection to all their depositors, to require the notice provided for in the by-laws of the several banks We would, there. fore, ask our depositors to review the situation calmly, and accept with patience our action. which is taken in our mutual interest and for the benefit of this community at large. PEOPLE'S SAVINGS BANK. MICHIGAN SAVINGS BANK. DETROIT SAVINGS BANK. CITIZENS' SAVINGS BANK. HOME SAVINGS BANK. CITY SAVINGS BANK. WAYNE COUNTY SAVINGS BANK. CENTRAL SAVINGS BANK. DETROIT RIVER SAVINGS BANKA PENINSULAR SAVINGS BANK. DIME SAVINGS BANK. GERMANAMERICAN BANK. AMERICAN BANKING AND SAVINGS ASSOCIATION STATE SAVINGS BANK. When the doors of the People's Savings Bank,

3. June 14, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, June 14, 1893

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More Failures. OMAHA, June 14.-The state bank examiner has closed the doors of the McCague Savings bank. No statement of the bank's condition has yet been issued and it is impossible to estimate the assets and liabilities. John L. McCague, vice president of the suspended bank, said that the suspension was due solely to an inability to realize on securities. He fixed the liabilities at $400,000 and estimated the assets of the bank at from $460,000 to $475,000. He stated positively that the depositors would be paid in full. The American National bank was closed by an order of the comptroller of the currency yesterday. Runs started on the Globe Loan & Trust company, the Dime Savings bank, the German Savings bank and the Nebraska Savings bank. No statement of the condition of the American National was made at once, except the fact that the clearing house refused to assist it. It is understood that its affairs are entangled with those of the McCague Savings bank. The run was of extensive proportions on the Omaha Savings bank, and all the morning the bank was besieged by depositors. Senator Manderson and Vice President Kimball, of the Union Pacific, directors of the bank, made speeches to the excited depositors, guaranteeing them their money, but the run continued. Salt Lake, Utah.-The Park City bank has suspended, assigning to E. Kimball. Liabilities, $130,000; assets as much, and the claim is made that it will shortly resume. The assignee says depositors are to be paid 80 cents on the dollar. Kansas City.-The People's Guarantee Savings bank has made an assignment for the benefit of its creditors. The liabilities are supposed to be about $70,000 and the assets between $50,000 and $65,000.

4. June 14, 1893 The Times Richmond, VA
Article from The Times, June 14, 1893

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BETTER FINANCIAL OUTLOOK. A General Feeling That the Worst is Over, Few Small Failures. WASHINGTON, June 13.-The financial condition of the country as viewed from a Treasury standpoint shows general improvement. Bank and commercial failures are fewer, Europe is buying our grain in greater quantities, gold shipments have ceased, at least for the present, confidence is being restored and money is not so tight. The Treasury net gold has increased from $89,000,000 to $91,300,000. and the demand for small money in the West will have the effect to further increase the Treasury gold. The rate of exchange is sufficiently high to warrant the shipment of gold abroad. but the fact that commercial paper is for sale in London has a deterrent effect. There is a general feeling that the worst is passed. the weaker financial institutions and business firms having suecumbed, while those that passed through so far unseathed are the stronger for having weathered the financial storm. More Bank Troubles, SALT LAKE. UTAH, June 13.-The Park City Bank suspended yesterday. The liabilities are $130,000; assets as much. A claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar. OMAHA, NEB. June 13.-The American National Bank is in the hands of the comptroller. J. L. McCague is president, and the supposed American National's connection with the McCague Savings Bank, which falled yesterday, caused its downfall. There are heavy runs on all the savings banks here this morning, WASHINGTON June 13.-The Comp= troller of the Currency has appointed Joseph W. Bennett receiver of the Oglethorpe National Bank of Brunswick, Ga.

5. June 14, 1893 The Morning News Savannah, GA
Article from The Morning News, June 14, 1893

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MORE WILDRUNS ON BANKS A Couple of Failures Start a Rush at Omaha. All the Institutions Except the Two Previously Closed Weather the Storm-Only One Even Takes Advantage of the Sixty Days' Clause. Kansas City the Scene of a Still More Absurd Run. Omaha, Neb., June 13.-There was a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the clearing house association would stand by its members, of which the American National is one, but when the assets of the American National Bank came to be examined they were pronounced not good enough and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning and the crowd which had collected becamegreatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank, the American Savings Bank, the Globe Loan and Trust Company, and other institutions, there was a steady drain of deposits all day Cash was paid out as long as called for, and there was no apparent limit to the supply. Senator Manderson and Vice President Kimball, of the Union Pacific, directors of the bank, made speeches to the excited depositors, guaranteeing them their money, but the run continued. The Dime Savings Bank compelled its depositors to give sixty days' notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed, to have stopped what almost promised to be a panic. A CRAZY RUN AT KANSAS CITY. Kansas City, June 13.-As a result of the suspension yesterday of the People's Savings Bank, an insignificant institution with deposits of only $25,000, a run was started this morning on the Kansas City Safe Deposit and Savings Bank. The bank took advantage of the clause of its by-laws requiring depositors to give thirty days' notice of the withdrawal of deposits. That checked the run and at it noon was practically over. None of the other banks experienced a run. Just why the Kansas City Safe Deposit and Savings Bank should have been selected for a run is a mystery. It is the largest and one of the soundest institutions of the kind in the state and has the confidence of the banks and merchants generally. A RUN CHECKED AT DETROIT. Detroit, Mich., June 3.-The State Bank of Crystal Falls, Mich. has suspended as a result of the failure of the Plankington Bank of Milwaukee. The bank is only a year old and its capital is $25,000. The deposits foot up $60,000. The officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits. A run was started this morning upon the People's Savings Bank, one of the strongest in Detroit, but the sixty-day notice requirement checked it. The officers coneur in a statement that "it was not for want of money that we took this action, for we could have secured enough to have paid every depositor, but we did not think this the wisest plan.' A NASHVILLE BANK SHUT. Nashville, Tenn., June -The Nashville Savings Company, of which Thomas S. Marris is owner and president. filed an assignment to-night. The liabilities are $282,876, and the assets are valued at $ 125,000. The deposits amount to $109,010 22, and the certificates of deposits to $72,911 21. Among the assets are $60,000 on deposit with Arthur, Ketcher & Co., suspended bankers of New York. In an interview President Marr says the failure was due to the shrinkage in values and steady withdrawal of money by depositors since failures have become so frequent. The recent failures of local business houses and the suspension of the Commercial National Bank also caught him for large sums. ASSETS WIPED OUT. Mankoto, Kan. June 3.-The bank of Burr Oak, Jewell county, closed its doors yesterday morning. The bank was owned by Hulbert Bros., and the liabilities are placed at $35,000. The assets are practically nothing. C. D. Hulbert, one of the proprietors of the bank, has fled and his whereabouts are unknown The depositors are greatly excited, and if he should return either of his own accord or to answer a criminal charge, there being some inclination among the depositors to prefer such a charge, he would be roughly dealt with. A BANK FAILS IN UTAIF. Salt Lake, Utah, June 13.-The Park City Bank suspended yesterday. Its liabilities are $130,000, and its assets as much. The claim is made that the bank will shortly resume. The assignee says that depositors are to be paid 80 cents on the dollar.

6. June 14, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 14, 1893

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DETROIT BANES REQUIRE NOTICE. Savings Cannot be Withdrawn Except Under the Ninety Days Notice-A Run Started and Checked. DETROIT, MICH., Jnne 13.--For some time there has been an uneasy feeling in the banking atmosphere of his city, occasioned the numerous that have the country, espeoccurred saving institutions throughout by failures recently there cially had Although in the been until West. this morning not a decided run on of the banks considersavings has been of Detroit, any able money withdrawn in a to movement to quiet that way, might and result forestall disastrously any them and as an act of mutual protection, the officers of those institutions met last night and adopted the following notice to depositors: "There has recently been developed in our city an uneasiness among saving depositors which has been (without cause) directed against some of our strongest banks. To stop the heedless withdrawal of deposits and the lecking up of currency in a time of financial stringency, the undersigned banks respectfully decide in the event of unusual demands OH them and to ensure equal protection to all their depositors, to require the notice provided fori the by-laws of the several banks. "We would, therefore, ask our depositors to review the situation calmly and accept with patience our action, which is taken in our mutual interest and for the benefit of the country at large. "PEOPLE'S SANINGS BANK, "MICHIGAN SAVINGS BANK, "DETROIT SAVINGS BANK, "CITIZENS' SAVINGS BANK, "HOME SAVINGS BANK, "CITY SAVINGS BANK, "WAYNE COUNTY SAVINGS BANK, "CENTRAL SAVINGS BANK, "DETROIT RIVER SAVINGS BANK, "PENINSULAR SAVINGS BANK, "DIME SAVINGS BANK, "GERMAN-AMERICAN BANK, "AMERICAN BANKING AND SAVINGS AssociTION, "STATE SAVINGS BANK." doors of the SavWhen Bank, the largest Peoples in ings one of the Detroit, opened at 10 o'clock this morning an immense crowd of people flocked in with the intention of their were handed of depossts. foregoing They withdrawing told copies the circular and that their deposits would be paid in full at the end of the specified time-90 days. This seemed to allay the excitement somewhat. M. W. O'Brien, president of the Peoples was interviewed the Associated and had this to Bank Press by say: really no this The is excitement. "There and is the contagion occasion for spreading to stop needless withdrawal of and of currency in a we deposits time taken of financial looking stringency up have this action to allay fear." At the people's Bank things began to quiet no down when for it was seen there was of men to toward the had business occasion much de making alarm. quelling heavy A long deposits line citement and everything is comparatively quiet at the other banks. Deposits in the People's Saving Bank amount to over $6,000,000. State Banking Commissioner Sher. wood pronounces it and the other savings bank in the city in a first class condition and says there is no occasion for alarm. OMAHA, NEB., June 13.-The American National Bank was closed by order of the comptroller of currency this morning. Runs started on the Globe Loan & Trust Co., the Dime Savings Bank, the German Savings Bank and Nebraska Savings Bank. No statement of the condition of of the American National is made at once except the fact that the clearing house refused to assist it. It is understood that the affairs of the bank are entangled with those of the McCague Savings Bank that closed yesterday afternoon. The run was of extensive proportions en the Omaha Savings Bank and all the morning the bank was besieged by depositors. Senator Manderson and Vice President Kimball of the Union Pacific, directors of the bank, made speeches to the excited depositors guaranteeing them their money, but the run continued. COLUMBUS, O., June 13.-The Franklin Buggy Company has been put in the hands of a receiver. It is the smallest and youngest company in this business in Columbus. Liabilities are stated to be about $75,000. Assets will hardly cover that sum. The concern was not making money, and the receivership is said to be intended to wind up a losing business on account of the tightening of the times. CLEVELAND, O., June 13.-At the instance of the National Bank of Commerce, W. M. Reynolds was to-day appointed receiver of the Williams Publishing Company, a company doing a large printing and publishing business. The assets and liabilities are not known. NEW YORK, June 13.-Defalcations ag gregating $70,600 have been discovered in the Irving Savings Institution, 96 Warren street, New York. The shortage was discovered by the State Bank Examiners, who are still at work on the books and will not complete their work of the accounts some as there are accounts to 17,000 bank's individual for time, scrutinizing investigate besides the regular bank books.

7. June 14, 1893 The State Chronicle Raleigh, NC
Article from The State Chronicle, June 14, 1893

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Another Bank Fails. By Southern Associated Press. OMAHA, Neb., June 13.-The American National Bank is in the hands of the Comptroller. J. L. McCague is President and it is supposed that the American Nationals connected with the McCague Savings Bank which failed yesterday caused its downfall. There are heavy runs on all Savings Banks here this morning.

8. June 14, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, June 14, 1893

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Savings-Bank Runs. [By telegraph to the Dispatch.) OMAHA, NEB., June 13.-There was P. run on every savings bank in the city this morning, precipitated by the failure of the McCague savings Bank yesterday. followed by the downfall this morning of the American National Bank in which the McCagues are largely interested. it was unofficially stated yesterday that the Clearlog-House Association would stand by its members, of which the American National 18 one, but when the assets of the American National Bank came to be examined they were pronounced not good enough. and the aid of the associated banks was withheld. At the Omaha Savings Bank, the German Savings Bank. the American Savings Bank, the Globe Loan and Trust Company, and other institutions there was a steady drain of deposits all day. Cash was paid out 498000 as called for, and there was no apparent limit to 11. Senator Manderson and Vice-President Kimball, of the Intoa Pacine, directors of some of the banks, made speeches to the excited depositors. guarentering them their money, but the runs continued. The Dinne Savings Bank compelled 118 depositors to give sixty days' notice of withdrawal. This action. together with the promptness with which the other banks met all demands, 13 believed to have stopped what almost promised to be a panic. KANSAS CTTY, Mo., June 13.-As a result of the suspension yesterday of the People's Savings Bank. an insignificant institution with deposits of only $25,000. a run was started this morning on the Kapeas City Safe-Deposit and Savings Bank. The bank took advantage of the clause of its by-laws requiring depositors to give thirty days notice of the withdrawal of deposits. That checked the run. and at BOOD it was practically over. None of the other tanks experienced a run. Just why the Kansas City Sate-Deposit and Savings Bank should have been selected for run is a mystery. It 18 the largest and one of the soundest institutions of the kind iu the State, and has the confidence of banks and merchants generally. DETROIT. June The officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits A run was started this morning upon the People's Savings Bank one of the strongest in Detroit, but the sixty-day notice requirement checked it. The bank officers concur 111 the statement that "It was not for the want of money that are took this action. for we could have secured enough to have paid every depositor, but we did not think this the wisest plan."

9. June 14, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, June 14, 1893

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MORE SAVINGS BANKS RUNS. Detroit Officials Put on the BrakesTrouble at Omaha. CHICAGO, June 14.- The savings bank run seems epidemic. At Detroit a run was threatened and the officers of all the banks met and agreed to require the time limit of all depositors. The run was started, but every depositor was required to give the legal notice, and confidence was partly restored. At Omaha there was a run on every savings bank in the city caused by the failure of the McCague bank and American National. McCague says he will pay every depositor. All the banks met the run with cash, and the run was greatly abated by night. The Nashville Savings company has made an assignment with liabilities of $282,000 and assets of $125,000. The Irving Savings institution at New York is short $70,000, due to the rascality of its president, secretary, and paying teller.

10. June 14, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 14, 1893

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OMAHA BANKS FAIL, A National Bank in That City Closed by Comptroller Eckels. Runs Are Started on Several Other Banks All of Whom Say That They Will Pull Through. OMAHA, June 13.-The American National Bank was closed this morning by order of the Comptroller of the currency and the bank examiner is now in charge. The clearing house, at a meeting last night, decided to give it no help, and the decision of the comptroller to close it followed. The statement at the close of business, May 4, showed:

11. June 14, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 14, 1893

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BURST BANKS. American National of Omaha Closes Its Doors. OMAHA, Neb., June 13. - Omaha passed through a mild financial panic today. as tne result of the failure of the McCague Savings bank last evening. The news of the suspension of the savings bank last night was ground for the belief that any run this morning would be made upon the American National bank, as that and the McCague savings banks were closely connected.

12. June 15, 1893 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, June 15, 1893

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OMAHA BANKS. Another Failure and Several Runs in Progress. OMAHA, June 14. -There is a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the downfall of the American National bank, in which the McCagues are largely interested. It had been unofficially stated that the Clearing House association would stand by its members, of which the American National is one, but when the assets of the bank came to be examined they were pronounced not good enough, and the aid of the associated banks was withheld. The ominous sign appeared on the doors, and the crowd which had collected became greatly excited. The McCagues tried to assure the depositors, telling them that Every Account Would Be Paid in full. At the Omaha Savings bank the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady train of depositors all morning. Cash was paid out as soon as called for and there was no apparent limit to it. Toward noon the lines had dwindled till they appeared no larger than upon any day of busi. ness. Bank Examiner Griffith, who took charge of the American National bank for the comptroller, could not say much about the assets. A great deal of paper thought not to be first class figures in the resources of the bank. The falling of in deposits amounted to nearly $400,000 since May 4, and this has badly crippled the institution. The Dime Savings bank compelled its depositors to give 60 days notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed to have stopped what almost promised to be a panic.

13. June 15, 1893 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, June 15, 1893

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OMAHA BANKS. Another Failure and Several Runs in Progress. OMAHA, June 14. -There is a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the downfall of the American National bank, in which the McCagues are largely interested. It had been unofficially stated that the Clearing House association would stand by its members, of which the American National is one, but when the assets of the bank came to be examined they were pronounced not good enough, and the aid of the associated banks was withheld. The ominous sign appeared on the doors, and the crowd which had collected became greatly excited. The McCagues tried to assure the depositors, telling them that Every Account Would Be Paid in full. At the Omaha Savings bank the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady train of depositors all morning. Cash was paid out as soon as called for and there was no apparent limit to it. Toward noon the lines had dwindled till they appeared no larger than upon any day of busi. ness. Bank Examiner Griffith, who took charge of the American National bank for the comptroller, could not say much about the assets. A great deal of paper thought not to be first class figures in the resources of the bank. The falling of in deposits amounted to nearly $400,000 since May 4, and this has badly crippled the institution. The Dime Savings bank compelled its depositors to give 60 days notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed to have stopped what almost promised to be a panic.

14. June 16, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, June 16, 1893

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1893 BISMARCK, NORTH DAKOTA, FRIDAY JUNE 16 NO SERIOUS RESULTS. 11 THREATEN A BOYCOTT. HEAVY Omaha Savings Banks Experience a General Run. OMAHA, June 14. - -The runs made on d The Great Northern's Cut in Three O most of the savings banks in the city d during the day as a result of the failure Ba Rates Causing No Little of of the McCague Savings bank Monday Discussion. of and the closing of the American Naxtional bank were without serious reut sults to any of the institutions coned cerned. All paid out freely except the Other Roads, It Is Said, Will Evans, t Dime, which demanded the 60 days' eCut Off Connections of ture notice. The Globe paid until noon and of All Kinds. then required the 60 days' notice. The he heaviest run was on the Omaha, of he which Senator Manderson is president. he Its lobby was packed all day, but deNEW Y CHICAGO, June 14.-A boycott is ch positors were paid as fast as they could threatened against the Great Northern aggregatin be accommodated. Senator Manderson in road. The announcement of its intenered in the made a reassuring speech from the ty 96 Warre tion to make a $25 round trip rate beicounter to the crowd and at the closing tween St. Paul and Seattle in both dishortage V hour said the bank was as stable as the ed rections has caused the trouble. The bank exam hills. The manner in which the banks lf on the boo greatest pressure is being brought on he met the run has strengthened public the Great Northern to withdraw its their wor opinion. en

15. June 20, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, June 20, 1893

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It was unofficially largely interested stated vesterday that the Clearing House Association would stand by its member , of which the American Na tional is one, but when the assets of the American National Bank come to be examined, they were pronounced not good enough, and the aid of the associated banks was withheld. The American's sign appeared on the door this morning and the crowd which had collected became greatly excited. The McCagues tried to reassure depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank, the American Savings Bank, the Globe Loan and Trust Company, and other institutions there was a steady drain of depositors all day. Cash was paid out as soon as called for and there was no apparent limit to it. Senator Manderson and vice president Kimball, of the Union Pacific, directors of the bank, made speeches to the excited depositors, guaranteeing them their money, but the run continued. The Dime Savings Bank compelled its depositors to give sixty days' notice of withdrawal. This action, together with the promptness with which other banks met all de mands, is believed to have stopped what almost promised to be a panic. DETROIT, Mich., June 13. - The State Bank of Crystal Falls, Michigan, has suspended as the result of the failure of the Plankington Bank of Milwaukee. The bank is only a year old, and has a capital of $25,000; deposits $60,000. Officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits. A run was started this morning upon the People's Savings Bank, one of the strongest in Detroit, but the sixty days' notice requirement checked it Bank officers concur in the statement that it was not for the want of money that we took this action, for we could have secured enough to have paid every depositor, but we did not think this the wisest plan."

16. June 21, 1893 The Columbus Journal Columbus, NE
Article from The Columbus Journal, June 21, 1893

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THE failure of the McCague Savings bank and the closing of the doors of the American National bank at Omaha last Monday caused a run on a number of the banks in that city, but all demands were met with such promptness that nothing serious resulted.

17. June 23, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, June 23, 1893

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DAYWO DATE TWO DANAS FAIL And a Receiver Has Been Appointed for a Third. OMAHA, NEB -The American National Bank is in the hands of Comptroller J. L. McCague, president, and it is supposed that the American National's connection with the McCague Savings Bank, caused its downfall. There are heavy runs on all the savings banks here. A BALT LAKE CITY BANK SALT LAKE UTAH.--The Park City Bank has suspended. Liabilities $130,000; assets as much. The claim is made that the bank will shortly resume The assignee says that the depositors are to be paid 80 cents on the dollar. A BANK RECEIVER APPOINTED W ASHINGTON, D. C.-The Comptroller of the Currency has appointed Joseph W. Bennett receiver of the Oglthorpe National Bank, Brunswick, G.I.

18. August 31, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 31, 1893

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BANKS OPENING. Comptroller Eckels Unlocks the Cash Boxes. WASHINGTON, Aug. 30.-Comptroller Eckels is informed that the court has sustained him in the position he took in the case of the Washington National Bank of Tacoma, Wash. The decision is regarded as important, sustaining the right ot the comptroller of the currency to the sole control under the law of the national banks of the country. The following national banks which recently suspended have been today permitted to open their doors to business: The First National Bank of Dubuque, 10. the First National Bank of Grand Junction, Col. The comptroller of the currency has authorized the following national banks to reopen on Sept. 1: The American National Bauk of Omaha, Neb.; the American National Bank of Nashville. The following national banks in Minnesota have been authorized to reopen for business on Sept. 7: The First National Bank of Mankato, the National Citizens' Bank of Mankato, the Mankato National bank. Comptroller Eckles left this evening for bis home at Ottawa, III., to spend a two weeks' vacation.

19. August 31, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, August 31, 1893

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Permission to Open. WASHINGTON, Aug. 81.-The following national banks, which recently suspended, have been permitted to open their doors to business at once: The First National bank of Dubuque, Ia.; the First National bank of Grand Junction, Colo. The comptroller of the currency has outhorized the following national banks to resume on Sept. 1: The American National bank of Omaha, Neb,; the American National bank of Nashville, Tenn. The three national banks in Mankato. Minn., have been authorized to reopen for business on Sept. 7.

20. September 2, 1893 The Van Buren Press Van Buren, AR
Article from The Van Buren Press, September 2, 1893

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The following National banks which recently suspended, was on the 30th permitted to reopen their doors to business: The First National Bank, of Dubuque, Ia. ; the First National Bank, of Grand Junction, Colo. The Comptrolle r of the Currency authorized the following National Banks to reopen on September 1: The American National Bank, of Omaha, and the American National, of Nashville. The following National banks in Minnesota have been authorized to reopen on September 7: The First National, of Mankato, the National Citizens, of Mankato, the Mankato National.

21. September 7, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, September 7, 1893

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BANK RESUMPTIONS. OMAHA, Sept.6.-The American National bank will open for business tomorrow, after a. suspension of nearly three months. It will open with more than 50 per cent of its deposits on hand.

22. September 7, 1893 The State Republican Jefferson City, MO
Article from The State Republican, September 7, 1893

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THE following executions took place. George S. Turner (a wealthy man) at Spartenburg, S. C., for killing Ed Finger; Wade Cannon and George Bowers (colored) at Laurens, 8. c. for arson and John Ferguson for wife murder; Oscar Johnson and Henry Ewing at Berkely, S. C., for thurdering Henry Weltman; and Ah Lo Doon, a China man. at San Rafael, Cal., for the murder of William Shentor. RECEIVERS were named for the Equit able Mortgage company of Missouri, with hendquarters in New York, the liabilities being $19,000,000. THE American national bank of Nash ville, Tenn., and the American national bank of Omaha, Neb., have reopened their doors AT the annual meeting in Milwaukee Judge Thomas Cooley of Michigan, was elected president of the American Bar association. THE Denver savings bank failed with liabilities of 8679,000. Depositors would paid in full. AN assignment was Made of Lee H. Durstine, manager at Des Moines of the lowa business of the Equitable Life Insurance company. with liabilities of $100,000. IN his cell in Denver Dr. T. Thatcher Graves, awaiting trial for poisoning Mrs. Josephine Barnaby, of Providence, I., in 1891, committed suicide by taking poison. IN an electric car accident at Cincinnati two persons were killed. six fatally hurt and nearly forty injured. Tun corn crop in Kansas in estimated at 200,000,000 busheis, worth $80,000,000. This is the greatest since 1889. THE vault in the subtreasury in San Francisco is drained of currency for the first time in its history. A MOB hanged William Arkison (colored), aged 20, who assaulted a little girl at South Fork, Ky. Br a Burlington train falling through a trestle at Streator, III, two men were killed and a dozen hurt. ON President's island near Memphis, Tenn., six human skeletons were found imbedded in the sand: HENRY A. BELL arrived in San Francisco en route to England after an absence of twenty years of self-enforced exile in Albert island. BANDITS robbed the passengers on a 'Frisco train at Mound Valley, Kan., and killed Express Messenger Chapman. AT the age of 101 years Felix Sheridan died at Quincy, Ill. He was a veteran and pensioner of the war of 1812.

23. September 7, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, September 7, 1893

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Omaha Bank to Resume. OMAHA, Sept. 7.-The American National bank of this city resumed business today after a suspension since June 13.

24. September 7, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, September 7, 1893

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FLAMES caused a loss of over $150,000 to occupants of Lindsay Bros.' big block in Milwaukee. The McCormick Harvester company and the Transfer & Storage company were the principal losers. THE First national bank of Grand Junction, Col, and the First national bank of Dubuque, Ia., resumed business. LATER advices say that since the recent storm in the south 390 dead bodies have been found on the islands about Beautort and Port Royal, S. C., and that the total number of dead would reach 1,000. Over $2,000,000 worth of property was wrecked near the same points. Near Jacksonville, Fla, fourteen dead bodies were found, and the damage to fruit trees and orange groves was enormous. AT the session in St. Louis of the seventh international Sunday school convention the report of Secretary Porter showed the number of Sunday schools of the United States and British America to be 130,197; teachers and officers, 1,372,558; scholars, 10,870,104; total, 11,242,662. WHILE carelessly handling a revolver supposed to be unloaded Leo Stafford shot and killed his bride of six weeks at East Liverpool, O. THE total paid admissions during the first four months of the world's fair numbered 9,990,699. By months the attendance was: May, 1,050,037; June, 2,675,113; July, 2,760,263; Angust, 3,514,286. IN Chicago Judge Goggin declared the world's fair Sunday opening injunction should stand, overriding Judges Dunne and Brentano and sur prising court attendants. FIVE tramps and Jack Swanson, the engineer, were killed in a freigh. train wreck near Brenham, Tex., and Fireman Cameron and Brakeman Ford were fatally injured. H. S. BUNDY, of Jackson county, was nominated for congress in the Tenth Ohio district on the 1,793d ballot. Mr Bundy has served two terms in con gress. AT Rockford, III., the Royal Sewing Machine company made an assignment with liabilities of $119,000 and assets of $40,000. WHILE insane Samuel Deeters, of Waterloo, Ind., shot and killed Amos Bactel and fatally shot Mrs. Lowe, neighbors, and wounded his mother. FIRE destroyed the business part of De Pauw. Ind. THE following executions took place: George S. Turner (a wealthy man) at Spartenburg, S. C., for killing Ed Finger; Wade Cannon and George Bow. ers (colored) at Laurens, S. C., for arson and John Ferguson for wife murder; Oscar Johnson and Henry Ewing at Berkely, S. C., for murdering Henry Weltman; and Ah Lo Doon, a Chinaman, at San Rafael, Cal., for the murder of William Shentor. RECEIVERS were named for the Equitable Mortgage company of Missouri, with headquarters in New York, the liabilities being $19,000,000. THE American national bank of Nashville, Tenn., and the American national bank of Omaha, Neb., have reopened their doors. AT the annual meeting in Milwaukee Judge Thomas Cooley, of Michigan, was elected president of the American Bar association. THE Denver savings bank failed with liabilities of $670,000. Depositors would be paid in full.