Article Text
A Nebraska Bank Suspends. Basset, Neb., Aug. 7.-The Farmers and Merchants Bank of Basset has closed and is in the hands of the banking board. No statement has been issued.
12743. Farmers & Merchants Bank (Bassett, NE)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- August 7, 1893
- Location
- Bassett, Nebraska (42.586, -99.538)
Metadata
- Model
- gpt-5-mini
- Short Digest
c737a64c
Response Measures
None
Description
Articles (Aug 7, 1893) report the Farmers & Merchants Bank of Bassett closed and 'in the hands of the State Banking Board.' An Oct 1, 1893 article lists it among state banks 'in the hands of receivers.' No article describes a depositor run prior to suspension, so this is classified as a suspension leading to receivership/closure (government action).
Events (2)
1.
August 7, 1893
Suspension
- Cause
- Government Action
- Cause Details
- Closed and placed in the hands of the State Banking Board (state examiners/board action).
- Newspaper Excerpt
- A Nebraska Bank Suspends. Basset, Neb., Aug. 7.-The Farmers and Merchants Bank of Basset has closed and is in the hands of the banking board.
- Source
- newspapers
2.
October 1, 1893
Receivership
- Newspaper Excerpt
- the Farmers and Merchants bank of Bassett, Neb., has closed and is in the hands of the State Banking Board. ... Farmers and Merchants bank of Bassett [listed] as in the hands of receivers in the state are ... Farmers and Merchants bank of Bassett.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
Wirings from Everywhere. The Green County Bank, Springfield. Mo., failed to open its doors yesterday morning. The Chicago Iron and Steel Company, with its works at East Chicago, Ind., has assigned. The Italian government has decided to forbid all pilgrimages to Rome in the event of cholera's continuing abroad. The Farmers' and Merchants' Bank of Bassett, Neb., has closed and is in the hands of the State Banking Board. The strike of all Missouri|miners, ordered for yesterday by a convention of miners held in Kansas City a week ago, did not materialize. Sunday to Lake Village, Ark., there was a shooting scrape between Joe Frame and Perry Lasson, two young men of the village, in which Lasson was instantly killed and Frame seriously wounded. Attle Cox, of Lonisville, Ky., was yesterday appointed receiver of the Louisville, St. Louis and Texas ratiroad by United States Circuit Judge H. H. Lurton, at Nashville, Tenn., upon the application of Post, Martin & Co., of New York. He is bonded at $100,000, and 18 to take charge of the road at once. The mutilated body of an unidentified man, supposed to be A detective, was found hidden in the woods near a railroad-tie camp in Craighead county, Ark., yesterday. The man had apparently been watching the camp for a fugitive from justice. His .broat was cut and his body was riddled with bullets. C. O. Summers, a Pinkerton detective who helped to run down and assassinate the noted express-robber Eugene Bunch, and capture his pal-Hobgood, escaped from the penitentiary at Jackson, Miss, last evening. He and Tom Murphy, an all-round crook from Chicago, made a key to the express-safe in Meridan and robbed the express office of 85,000. Governor Lewelling, of Topeka, Kas, yesterday appointed Stias Rutiedge. of Valley Falls: Benjamin Hielbrum. of Page City: W. J. Wilson. of Wichita, and Thyge Sogard, the Danish Vice Consul at Kansas CLV, commissioners to Chicago to confer with representatives of foreign governments attending the World's Fair on the subject of steamship transportation to Europe by the Gulf of Mexico.
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Article Text
banner year. The other houses are not so enthusiastic in their utterances, but all agree that the grocery trade has not been seriously affected by the general depression. Collections have been a little off for the week, though they average well for the month. "I was very much surprised to learn from the credit man of one of the great packing houses in this city, which does a business of $16,000,000 in a single year, that their losses from bad bills up to the present year have been less than one-twentieth of 1 per cent. Tne present year may not show up so well, but the percentage of loss is so small as hardly to be worth considering. It IS perhaps proper to say that this house is a large patron of the agencies devoted to the work of reporting on credits of all classes of dealers. "Dry goods houses all report good trade. Hardware men are well satisfied. Clothing houses report an improvement and shoe men call trade fair. In other lines the situation is not at all bad, though they are not boasting of any increase of sales. "In retail circles the feeling is better, but trade is really not very much improved, except in the retail clothing stores and among dealers in necessities. "Banks report deposits slowly increasing and the demand for money from their customers not extraordinary. While not proclaiming it from the house tops, they are not refusing good loans. The important event in banking circles for the week was the reopening of the McCague Savings bank on Thursday. As this is the first, savings bank in the state to reopen after a suspension and its showing of resources being very gratifying, the management is recelving the very warm congratulations to which it is entitled. It was a herculean task and its success deserves special comment. "The state banking board has done a good thing for the state by calling down the Washington authorities for making misleading statements in regard to the number and extent of the fatalities among the state banks during the present year. The Washington statement is intended to give the impression that thirty-five state banks have practically failed in Nobraska since January 1, whereas, as a matter of fact, not more than six, and in all probability not more than four, can properly be classed as failures. The mistake of the authorities is in classing all suspensions as failures, whereas several have been trans. ferred, others went into voluntary liquidation and still others have been consolidated. The only state banks now in the hands of receivers in the state are the State bank at Cortland, the Farmers & Merchants bank at Elk Creek, State bank at Franklin, Nebraska Savings bank of Lincoln, American Savings bank of Omaha, Holt County bank, State bank of Plainview, Farmers State bank of Schubert, Dickinson's bank of Wahoo and Farmers and Merchants bank of Bassett. Of these it is believed all but six, and possibly all but four, will pay out in full, if not resume. Of the six national banks which suspended only two can be classed as failures and three have already resumed. The other will probably get on its feet within a month.