State Bank - Franklin, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1893
Location: Franklin, Nebraska (40.096, -98.953)

Metadata

Model: gpt-5-mini
Short Digest: ec639579

Response Measures

None

Description

Article (Omaha Daily Bee, 1893-10-01) lists the State Bank at Franklin among banks in the hands of receivers. No run is described; this indicates suspension and placement into receivership (permanent closure).

Events (1)

1. October 1, 1893 Receivership

Newspaper Excerpt: 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, ...
Source: newspapers

Newspaper Articles (1)

1. October 1, 1893 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, October 1, 1893

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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.