13070. Citizens National Bank (Grand Island, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3101
Charter Number
3101
Start Date
December 4, 1893
Location
Grand Island, Nebraska (40.925, -98.342)

Metadata

Model
gpt-5-mini
Short Digest
8fb92243

Response Measures

None

Receivership Details

Depositor recovery rate
55.5%
Date receivership started
1893-12-14
Date receivership terminated
1910-04-30
OCC cause of failure
Losses
Share of assets assessed as good
25.6%
Share of assets assessed as doubtful
43.7%
Share of assets assessed as worthless
30.7%

Description

Multiple contemporaneous newspaper dispatches (Dec 4–5, 1893) report the Citizens' National Bank of Grand Island 'closed its doors' and posted a notice that the suspension was 'due to slow collections.' Comptroller Eckels appointed a receiver (Edgar M. Westervelt) in mid-December 1893, indicating the suspension led to formal receivership and permanent closure. No bank run is described in the articles.

Events (4)

1. December 29, 1883 Chartered
Source
historical_nic
2. December 4, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Notice cited 'slow collections' — illiquidity from inability to collect loans/receivables led to suspension of payments.
Newspaper Excerpt
The Citizens' National bank closed its doors this morning. A notice posted says the suspension is due to slow collections.
Source
newspapers
3. December 14, 1893 Receivership
Source
historical_nic
4. December 15, 1893 Receivership
Newspaper Excerpt
Controller Eckels has appointed Edgar M. Westervelt of Lincoln, Neb., receiver of the Citizens' National Bank of Grand Island, Neb.
Source
newspapers

Newspaper Articles (20)

Article from The Anaconda Standard, December 5, 1893

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Late in the Season. GRAND ISLAND, Dec. 4. -The Citizens' National bank closed its doors this morning. A notice posted says the suspension is due to slow collections. The assets and liabilities are unknown. The bank has a capital of $60,000. MINOT. N. D., Dec. 4. The Citizens bank has gone into voluntary liquidation.


Article from The Wichita Daily Eagle, December 5, 1893

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FAILURES. MINOT. N. D., Dec. 4-The Citizens' bank went into voluntary liquidation to. day. The bank is mainly owned by George H. Lewis of New York. No statement. PITTSBURG, Pa., Dec. 4.-Bovaird & Sefang, manufacturers of oil well supplies have gone into the hands of receivers. The concern was capitalized at $500,000, and has two manufactories and three warehouses. It will still operate and expects the receivership to last but a short period. GRAND ISLAND, Neb., Dec. 4-The citizens national bank, capitalized at $60,000, failed this morning, posting a notice that owing to slow collections it was unable to continue. It is the oldest institution of its kind in central Nebraska. PERRY, O. T., Dec. 4.-Green B. Raum, Jr., son of the ex-commissioner of pensions, failed this morning. He was in the grocery and hardware business, and had been catering to the Osage Indians. As Indians only receive their money quarterly, he probably found the load too heavy. The failure is said to be for a large amount.


Article from The Helena Independent, December 5, 1893

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TELEGRAPHIC BREVITIES LONDON. Dec. 4.-Prof. John Tyndall died at 6:30 p. ID. at Haskemere, Surrey, where be resided. DFS MOINES, Iowa, Dec. 4.-The Tontine Investment company failed to-day. President Stone is missing and so are the funds. CHICAGO, Dec. 4.-The Erio to-day announced a further reduction of freight rates to New York. Other linea called a meeting and made the same rates. GRAND ISLAND, Neb., Dec. 4.-The Citizens' National bank closed doors this morning. The notice posted says the suspension is due to slow collections. ST. PAUL, Dec. 4.-Fire in the notion department of the Powers Dry Goods com pany caused a loss amounting to nearly $100,000, fully covered by insurance. DALLAS. Tex., Dec. 4.-At Eastland the boiler of 8 Texas & Pacific engine exploded to-day. killing Engineer Charles Elliott. Fireman Charles Beevers and Brakeman Frank Spencer. PITTSBURG, Dec. 4.-The Bovaird & Sey. faug manufacturing company, manufac. turers of oil well supplies. is in the hands of receivers. It was capitalized nt $500,000, employs 400 men, and will continue to operate. PORTLAND, Dec. 4.-On motion of the United States district attorney to-day Judve Bellinger orde ed that the indictment charging sixteen persons with conspirney to defraud the United States by smuggling opium be resubmitted to the grand jury for further investigation.


Article from Deseret Evening News, December 5, 1893

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Two Firms Fall. GRAND ISLAND, Neb., Dec. 5.-As a consequence of the failure of the CitIzens' National bank, Grand Island, Conning, Grand Island Cigar Manufacturing company and the firm of Archer & Baker assigned this morning. There is no statement of assets and liabilities.


Article from The Herald, December 5, 1893

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BUSINESS CRASHES. Financial and Business Institutions Cave Down the Bank. DES MOINES, Dec. 4.-The Tontine Investment company failed today. President Stone is missing and so are the funds. Among the victims here is the president of one bank and two or three cashiers of others. PITTSBURG, Pa., Dec. 4. - The Bovaird & Seyfaug Manufacturing company, manufacturers of oil well supplies, is in the hands of receivers. It is capitalized at $50,000 and employs 400 men. It will continue to operate. GRAND ISLAND, Neb., Dec. 4. - The Citizens' National bank closed its doors this morning. A notice posted says the suspension is due to slow collections. The assets and liabilities are unknown. The bank has a capital of $60,000.


Article from The Sun, December 5, 1893

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SPARKS FROM THE TELEGRAPH. The Citizens' National Bank at Grand Island. Neb. was closed yesterday. Non account of slow collections." The Sta - Bank at Julesberg, Col., has made an assigniment to Peter Peterson. A large number of people has small deposits in the bank. Dr. E. 1. Trudeau's residence at Saranae Lake, together with one of the linest laboratories in America, was totally destroyed by fire yesterday morning. The loss is heavy. Renignio Menchilles, an Italian track hand, was run over at West Albany yesterday afternoon. Notwithstanding his legs Lung by shreds to his body, be puried himself on the track ID time to prevent the remainder of the train 1rom passing over 111111 Death soon afterward ended his sulfering. The New York Locomotive Machine Works of Rome, N X., took are last evening and mostol the buildings were destroyed. A water works man burst during the progress of the Dre. reduct - the pressure from to 15 pounds. and two steam life engines were shable to cope with the names. The property was valued at $500,000, and was insured for ab n: $300.000, Dr Robert e. McEwen. a prominent physician and su geon of Saratoga. was prositated yesterday morn10g WITH . stroke of paralysis attecting the entire left side He 18 in a critical condition Dr. Memwen was for several years Captain of the Saratega & itizens Corps Twenty second Separate Company and 15 it Past Commander of the Knights Templar Fire on runday morning destroyed the following buildings in Corsicana, Tex J. R. Me Alester. livery stable loss $4,000; 0. P. Wimber every stable. loss $5,800 Savage Hotel. Loss $4,000; initselle's planing mm and electric light plant. 10-8 $25,000; City Hotel loss $2,500; M. Drane & Sons, on cottonseed. wood, and coal. loss $3,000; Corsicana Machinery Company, $6,000; carriaze factory. $1,500; Clark's seam laundry. $2,000; lexas Mill and Elevator Company's grain elevator. $3,500; partially insured.


Article from The Salt Lake Herald, December 5, 1893

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THE BUSINESS WORLD. A Bank Suspends. Grand Island, Dec. 4.-The Citizen's National bank closed its doors this morning. The notice posted, says the suspension is due to slow collections. Assets and liabilities are unknown. The bank has a capital of $60,000.


Article from The Daily Morning Astorian, December 6, 1893

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zens' National Bank, the Grand Island Canning Co., the Grand Island Gigar Manufacturing Company, and the firm of Archer & Baker assigned this morning. No statement.


Article from The Salt Lake Herald, December 6, 1893

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THE BUSINESS WORLD. Result of a Bank Failure. Grand Island, Neb., Dec. 5.-As a consequence of the failure of the Citizens' National bank, of Grand Island, Conning, the Grand Island Cigar Manufacturing company, and the firm of Archer & Baker assigned this morning. There is no statement of assets or liabilities.


Article from The Sun, December 9, 1893

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Min 18" Business Troubles. ANDERSON, Ind., Dec. 8.-R. P. Grimes, the oldest dry goods merchant of this city, made A voluntary assignment yesterday. naming W T. Durbin of the Citizens' National Bank as receiver. Liabilities, $40,000: nominal assets about the same. VEEDERSBURG, Ind., Dec. 8.-The stockholders of the State Bank of Veedersburg. which was organized one year ago. with Reid Zeigler of Attica as President and Lucius Martin as cashier. with & capital stock of $25,000, met yesterday and went into voluntary liquidation. All depositors will be paid in full GRAND ISLAND, Neb., Dec. X. In consequence of the failure of the Citizens' National Bank. there have been two more failures here, The Street Railway Company has given a bill of sale for $11,333 and a warranty deed for the same amount, and the United States Investment Company has given a warranty deed for $18,000. This makes six failures here, including the bank.


Article from Barbour County Index, December 13, 1893

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:social thanks have been offered in all the Berlin churches for the Emperor's escape from the plot to assassinate him, and the ecclesiasts throughout the German empire have been ordered to hold services for a similar purpose. John Dunlap of 823 West Lake street, Chicago, shot and killed his wife and then shot himself, dying intantly. Hon. John W. Herrin. the district at Cincinnati. attorney has forwarded with to Washington his resignation, the request that it take effect January 1. His term expires then. The Citizens' National bank of Grand Island, Neb., closed its doors, and the following notice was posted: "Owing to slow collections the board of directors of this bank have ordered the bank closed." At Selma, Ala., Sunday night A. S. Tanner and Ralph Grant quarreled about escorting Miss Virginia Gleason from church. Tanner had the girl on his arm and Grant attacked him. Grant was killed. Tanner is now in jail. The girl was made insane by fright. John Delfino, the Italian barber, was successfully electrocuted in state prison in Sing Sing for the murder of Carolina Gissell, in Brooklyn, eleven months ago. Kansas City has gone into the business of exporting dressed beef direct to England. Seventeen cars have been sent to New York containing carcasses of steers slaughtered for the London Christmas trade. The Bovaird and Sefang, a Pittsburg manufacturing company, extensive manufacturers of oil well supplies, has gone into the hands of receivers Over 100 families at Richmond, Ind., are dependent on public charity for the means to live. The El Paso, Texas, Herald and Tribune, both afternoon papers, have been proscribed in Mexico. The principal business block is Wheatland. N. D., was destroyed by fire. Losses $50,000. Glass factories in and about WheelW. have or ing, Va, resumed with full prepar- forces ing to resume work Dr. Lewis J. Warren, a prominent physician and Baptist leader of Clay Center, Kan., died of Bright's disease. Tramps broke into the store of J. L. Sheldon at Reading, Kan, and secured clothing, money and other articles. None of the officials of the Indianapolis National bank were indicted before the grand jury took a recess to the 18th inst. In his charge to the grand jury at Mo., Judge John E. declared in favor Warrensburg, Ryland of the whipping post for minor offenses. Major Joseph W. Wham, paymaster, U. S. A., has been ordered before the retiring board at Washington by direction of the Pres dent. United States District Judge Foster who is now at Galveston, is health and of Texas, Kansas, gaining rapidly expects soon to be well again. Ellsworth Ingalls has been appointed receiver of the Norton, Kas., state closed its Fribank which liabilities. doors last day night with $38,000 pene i The during expenditureson account fiscal of sions the present year amount to $59,481,572. as against $65,i 481,795 for the same time last year Hiram Berkey of Stillwater, Minn., has asked for a receiver for ex-Senator Dwight M. Sabin of Minnesota He says he carnot collect a debt of $10,000. The customs receipts this fiscal year fallen off $23,589,830. and the inrevenue receipts as ternal have $7,666,678 compared with last year. The Wichita followers of Colonel James R. Hailowell announce that he will be a candidate for congressmanat-large before the next Republican state convention. A delegation from Canada is going through Iowa and Kansas to see how prohibition works.


Article from Wood County Reporter, December 14, 1893

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BUSINESS TROUBLES. The New York Tablet, conducted by Gen. Michael Kerwin since 1881, has suspended publication. In Grand Island, Neb., the Citizens' National bank closed its doors owing to slow collections. The bank has a capital of $60,000. At the request of the miners' convention Governor Waite has decided to call attention to an extra session of the Colorado legislature. Claims to the amount of $110,000 against the jeweler, S. H. Greenburg, of San Francisco, are held by Attleboro, Mass., and Providence firms. Discovery of dishonesty on the part of J. H. Louis, managing clerk, who afterward attempted suicide, is said to have caused the failure of the big clothing firm of N. J. Schloss & Co. The Tontine Investment company of Des Moines has quit business, and President G. W. Stone and Secretary F. C. Spryock have left town. The company's surplus, amounting to $835, is said to have gone with them. Shafts 6 and 7 of the Lake Superior company at Ishpeming, Mich., have resumed work. Superintendent Charles H. Hall says that he anticipates employing a force of 1,000 to 1,200 men by the first of the year. The New York Life Insurance company and Equitable Assurance society, which have been loing a prosperous business, amounting to about $20,000,000 a year, in Russia, are meditating withdrawal of their branch house, owing to hostility shown by the Russian life insurance companies. The Banque Francaise, opened at New York about three years ago by A. M. De Chatelard of Montreal, has stopped operation. Chatelard and his manager have disappeared. The big safe was opened and found empty. It is estimated that 400 depositors will lose about $50,000. It is sad that Chatelard is in Paris. Green B. Raum, Jr., of Perry, Okla., son of the ex-commissioner of pensions, has failed. He owned a grocery store and a hardware establishment, and had been catering to the Osage Indian trade. The failure is said to be for a large amount. Raum was a candidate for mayor of Perry at the recent election, but was defeated.


Article from Evening Star, December 15, 1893

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Receiver Appointed for a Nebraska Bank. Controller Eckels has appointed Edgar M. Westervelt of Lincoln, Neb., receiver of the Citizens' National Bank of Grand Island, Neb.


Article from Mineral Point Tribune, December 16, 1893

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BUSINESS TROUBLES. The New York Tablet, conducted by Gen. Michael Kerwin since 1881, has suspended publication. In Grand Island, Neb., the Citizens' National bank closed its doors owing to slow collections. The bank has a capital of $60,000. At the request of the miners' convention Governor Waite has decided to call attention to an extra session of the Colorado legislature. Claims to the amount of $110,000 against the jeweler, S. H. Greenburg, of San Francisco, are held by Attleboro, Mass., and Providence firms. Discovery of dishonesty on the part of J. H. Louis, managing clerk, who afterward attempted suicide, is said to have caused the failure of the big clothing firm of N. J. Schloss & Co. The Tontine Investment company of Des Moines has quit business, and President G. W. Stone and Secretary F. C. Spryock have left town. The company's surplus, amounting to $835, is said to have gone with them. Shafts 6 and 7 of the Lake Superior company at Ishpeming, Mich., have resumed work. Superintendent Charles H. Hall says that he anticipates employing a force of 1,000 to 1,200 men by the first of the year. The New York Life Insurance company and Equitable Assurance society. which have been loing a prosperous business, amounting to about $20,000,000 a year, in Russia, are meditating withdrawal or their branch house, owing to hostility shown by the Russian life insurance companies. The Banque Francaise, opened at New York about three years ago by A. M. De Chatelard of Montreal, has stopped operation. Chatelard and his manager have disappeared. The big safe was opened and found empty. It is estimated that 400 depositors will lose about $50,000. It is sad that Chatelard is in Paris. Green B. Raum, Jr., of Perry, Okla., son of the ex-commissioner of pensions, has failed. He owned a grocery store and a hardware establishment, and had been catering to the Osage Indian trade. The failure is said to be for a large amount. Raum was a candidate for mayor of Perry at the recent election, but was defeated.


Article from The Guthrie Daily Leader, December 16, 1893

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NEWS NOTES. Slight earthquake shocks were felt at severel places in Illinois and In. diana. The senate committee on judiciary considered the Hornblower nomination without taking action. Three business houses at Baneroft, Iowa, were destroyed by fire. Loss $50,000, partially insured. Colonel S. V. R. Cruger's mansion at Bayville, L. I., was destroyed by fire. The loss is estimated at $250,000. A dispatch from Rio de Janeiro says that President Peixoto has declared Admiral Degama a traitor. Congressman Curtis has introduced in the house a bill appropriating $3 0,000 for an addition to the publ e building at Topeka. Right Rev. Robert Samuel Gregg, bishop, of Cork has been elected areabishop of Armagh and primate of Ireland. At Anderson, Ind., Sheriff Coburn levied upon the property of W. C. Depauw, W. T. Depauw and the Depauw plate glass works at Alexandria to satisfy executions amounting to $450,000. In New York Judge McAdams gave Amy Boucicault, known on the stage as Amy Busby, an absolute divorce from her husband, Actor Aubrey Boucicault. Comptroller Eckels has appointed Edgar M. Westervelt of Lincoln, Neb., receiver of the Citizens' National bank, of Grand Island, Neb. In Paris Miss Dorothy Klumnke of San Francisco, has brilliantly passed her examination for the degree of Doctor of Mathematics. Miss Klum ke is the first woman who has passed such an examination in France. Albert F. Vorhies, jr, a clerk in the office of the Louisiana board of health has fled, leaving a shortage of $10,000. Races ruined him. In a wreck near Nanticoke, Pa., Edith Newton, Sam Collins and Mrs. Sam Collins of the Hensnaw- Ten Broeck theatrical company and eight other persons were injured. The Pacific Coast Steamship company has announced that on Monday next it will withdraw seven steamers from service because of dull trade. Four hundred men will be thrown out of employment. Michael Ezeckiel. a rrominent Jewish citizen of Indianapolis, committed suicide in a most horrible manner. He first cut his throat and then shot himself in the forehead. Ezeckiel had been suffering from paresis for some time. He was 46 years old and leaves a family.


Article from Barbour County Index, December 20, 1893

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NUMBER 31. NEWS IN BRIEF. Fire in Troy, N. Y., did $175,000 damage to the dry goods establishment of W. H. Freer The executive council of the G. R has decided to hold the next annual encampment at Pittsburg, Pa. Fifteen prisoners, three charged with murder, escaped from jail at Greenville, Ala, Diek Robinson, the Sedalia mur derer, has made a confession which most shocking in its details. Bloomington, III., is overrun with tramps, but all are given breakfast before being asked to move on The two negroes who fired into a Chicago and Alton train near Edwardsville, Ill., on September 4 were each given six years in the pen. Miss Gracie M. Black, daughter of the ex-commissioner of pensions, and Rev. Frank B. Voorman were wedded at Washington, D. C. It is positively denied that Mrs. Zella Nicolaus, who is suing George Gould for $40,000, has sailed for Europe, as stated in New York morning paper. The Illinois state Grange adopted resolutions denouncing Governor Altgeld for not appointing a farmer on the railroad and warehouse commission. Over 300 populists and Democrats who were candidates for office in Lyon county, Kansas, failed to file statements of their expenses and are liable to arrest In the London bankruptcy court a receiving order was made against Captain O'Shea, Mrs. Parnell's former husband. Ed P. Greer of Winfield declares that he will be a candidate for conrressman-at-large before the next Republican convention of Kansas Stanislaus Voinacoisky, one of the Siberian exiles who was brought to San Francisco by whaler, has been arrested for burglary. Elder Robert H. Singer, an Evangel1st of the Disciples church, was fined 85 and sent to jail for three months at Somerset, Pa., for assault on a wo man of his flock. Chairman Thomas H. Carter of the Republican national committee has issued a call for the meeting of the executive committee in New York city early in January. Dr. G. S. Clemens, a dentist of JopMo., has sued Postmaster Silas Crane lin, and L. Hall of Blendsville for 85,000 for beating him for alleged in sults to members of their households. Walter Crabtree, bookkeepe for the Bank of Montrose, Mo., shot John Leach, aged 28, a bartender in the Widman saloon at Deepwater, Mo. old three times and escaped. An grudge was the cause. Slight earthquake shocks were felt at severel places in Illinois and Indiana. The senate committee on judiciary considered the Hornblower nomination without taking action. Three business houses at Bancroft, Iowa, were destroyed by fire. Loss $50,000. partially insured. Colonel S. V. R. Cruger's mansion : at Bayville, L was destroyed by fire. The loss is estimated at $250,000. A dispatch from Rio de Janeiro says that President Peixoto has declared Admiral Degama traitor. Congressman Curtis has introduced in the house a bill appropriating $3.0. 000 for an addition to the publi building at Topeka. Right Rev. Robert Samuel Gregg, bishop, of Cork has been elected archbishop of Armagh and primate of Ireland. At Anderson, Ind., Sheriff Coburn levied upon the property of W. C. De: pauw, W. T. Depauw and the Depauw plate glass works at Alexandria to satisfy executions amounting to $450,000. In New York Judge MeAdams gave Amy Boucicault, known on the stage as Amy Busby, an absolute divorce from her husband, Actor Aubrey Boucicanlt Comptroller Eckels has appointed Edgar M. Westervelt of Lincoln, Neb. receiver of the Citizens' National bank, of Grand Island, Neb. In Paris Miss Dorothy Klumpke of San Francisco, has brilliantly passed her examination for the degree of Doctor of Mathematics. Miss Klumpke is the first woman who has passed such an examination in France. Albert F. Vorhies, jr. clerk in the office of the Louisiana board of health has fled, leaving a shortage of $10,000. Races ruined him. In a wreck near Nanticoke, Pa., Edith Newton, Sam Collins and Mrs. Sam Collins of the Henshaw-Ten Broeck theatrical company and eight other persons were injured. The Pacific Coast Steamship company has announced that on Monday next it will withdraw seven steamers from service because of dull trade. Four hundred men will be thrown out of employment. Michael Ezeckiel. a prominent Jewish citizen of Indianapolis, committed suicide in most horrible He first cut his throat and manner. then shot himself in the forehead. Ezeckiel had been suffering from paresis for some time. He was 46 years old and leaves family. Miss Marv Jackson, aged 21 years, of Paris, Missouri, committed suicide on account of ill health The convention of the American of Labor in Chicago endorsed Governor Federation Altgeld's pardon of the anarchists A bill has been introduced in the Virginia legislature providing for sub- amendmission of a constitutional sument which will insure white premacy in politics. John McFarlin, superintendent was of Akron, Ohio street railway, the murdered in his own front yard by unknown robbers Henry government Cochran, mints formerly at weigher Philadel of the sentenced seven years and months phia, was at hard labor for robbink six the government of gold bullion. E. H. Williams of the Iowa City. board of trade, who has been be missing Iowa, over a week, is said to short $20,000. Professor Henry Warren Torrey, of the oldest professors of Harvard one university, is dead. He was 80 years of age.


Article from The Farmers' Union, December 21, 1893

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Told In a Few Words. -At Fresno, Cal. the jury in the case of the outlaw, Chris Evans. charged with the murder of United States Deputy Marshals Wilson and McGinnis at Sampson's Flat. disagreed. The judge. however. refused to discharge the jurors and sent them back They returned in half an hour with a verdict of guilty of murder in the first prisonment degree. and fixing the penalty at life 1m-The block at the corner of Clinton and Main streets. Buffalo, and extending back to Washington. known as the Arcade, was destroyed by fire Thursday morning, and Robinson's Musee Theater and Shea's Concert Hall, the latter the finest between New York and Chicago, are in ruins. The fireman of the building is missing and. It is supposed. perished in the flames. The fire also destroyed the Yerxa Block adjoining, occupied by Faxon, Williams & Faxon. wholesale grocers. The total loss is estimated at $1,500,000. The fire was caused by an explosion of natural gas under the boilers, which were nearly in the center of the Arcade Building. -Obituary: At Bedford, Pa .ex-Congressman John Cessna. aged TL-At Jackson, Mich., William D. Thompson. aged 82. -At San Francisco. Charles R. Thorne. the veteran actor, aged 79 -At Washington, Mrs. Georgia Anne Porter, widow of Admiral Porter, aged it-At Grand Rapids. Mich., Elder Francis Gloss, formerly Methodist missionary. aged $1,-At Nor- a walk, Ohio, George D. Houghton, Roadmaster of the Lake Shore Road. At Portland, Ora. Judge William Townsend. aged 54.-At Dallas, Texas, Judge Alexander White, aged 73. -The famine at Erzeroum. Armenia. and in the vicinity of the city is becoming more serious Bread is now selling at twelve times its usual value Hundreds of the poor are threatened with starvation. -A committee composed of members of the Liverpool (England) Corporation Dock Board and Kailway Board will be appointed to inquire into the effect upon the commerce of that port of the opening of the Manchester ship canal Lord Mayor Bowring has said that the canal will hurt Liverpool. and that he believes a sacrifice ought to be made in the dock rates to preserve the commerce of the port. -The Star Woolen Mills at Wabash, Ind. valued at $75,000, were burned. -John Freese, President, and George H. Cable, Vice President of the Perpetual Maturity Bond Company. have been arrested at Council Bluffs charged with violating the lottery law. -Comptroller Eckels appointed Edgar M. Westervelt, of Lincoln. Nob, receiver of the Citizens' National Bank, of Grand Island, Neb. -Annie Mitchell, 10 years old, daughter of a patent medicine vender, was burned to death cooking breakfast at Jeffersonville, Ind. -John C. Chaney was arrested at La Junta, Colo., for salting an Eagle County mine and selling it to Denver tenderfeet. -The National Unicycle Electric Railway Company has been granted an elevated road franchise at St. Louis. -The Mississippi Confederate veterans of Jackson discussed a reform of the State pension law. -Thieves succeeded in robbing several houses at Muncle, Ind., by representing themselves as officers. -Robbers broke into a jall at Paris, Ma, and stole a large sum of money from a drunken prisoner. -George J. Rice. once a railroad man of prominence. is in jail at Chattanooga, Tenn, charged with forgery. -Black diphtheria is said to have caused the death of two of Ben Zersher's children at New Pittsburg, Ohio, -Vicar General McCabe, of the Providence, R. I., diocese, was found dead in bed at the parochial residence. Abbott Fitzpatrick, founder of a Trappist monastery at Dubuque, Iowa, died in County Wexford. Ireland. -George H. Painter. sentenced to be hanged Friday at Chicago, was respited by Gov. Altgeld until Jan. 12. -Cruiser New York was given a fortyeight hour test at sea It proved her steadiness and worth as a Sghter. -Eight business buildings at Bancroft, Iowa, were burned, entailing a loss estimated at $50,000; partly insured. -For 1893 the record of roads which have gone into receivers' hands is larger than that of any previous year. -Illinois farmers adopted resolutions at Springfield asking the Legislature to make a 2-cent-a-mile rate on all railroads -By direction of the President Secretary Carlisle called for twenty-four resignations in the Treasury service. -Indiana Supreme Court holds restdence property can recover damages caused by the presence of a saloon -Minneapolis, Minn, mills ground only 140,985 barrels of flour last week. an average of 23,497 a day. -A son of Farmer Devine found a diamond in a glacial drift near Oregon, Wis. It weighs four karats. -Maryland State farmers adopted a resolution that invisible property be made to bear its share of taxation. -River men say the Mississippi is the lowest ever known, and that navigation in the stream is dangerous FINDING charges true, Attorney General Moloney will ask forfeiture of the charter of the Spring Valley Coal Company. -The Equitable Trust Company has been appointed receiver of the Quaker City Morocco Company at Philadelphia, as a result of the Stein failure at New York. The assets are over $40,000. -H. L Duwenick's livery and sale stable


Article from The Helena Independent, January 1, 1894

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BUSINESS TROUBLES. Some of the Wrecks Caused by the Great Financial Depression. JANUARY. 6. Wickham & Co., wholesale fish dealers of Huron, O., failed for $250,000. FEBRUARY. 2. The First National bank of Little Rock suspended. 8. The banking house of F. V. Rockarellow at Wilkesbarre, Pa., closed its doors. 93. Beaupre, Keogh & Davis, wholesale grocers, assigned in St. Paul: liabilities over $400,000. MARCH. 13. The Atkinson House Furnishing company of Maine assigned in Boston: liabilities, $1,500,000. 14. The Kansas Trust and Banking company, at Kansas City, suspended, with liabilities of $800,000. 23. Dobbins & Dazy, cotton brokers. assigned in Nashville; liabilities, $1,000,000. APRIL. 7. The Northwestern State bank of Sibley, la., closed its doors; liabilities, $150,000. 12. The Seglish, Scottish and Australian Chartered bank failed, with liabilities of £8,000,000. 20. The Australian Joint Stock bank failed for £13,000,000. 22. The Bank of Milbank, S. D., assigned, with liabilities of $100,000. 25. The Union Loan and Trust company of Sioux City closed its doors: liabilities, $750.000. 30. The National Bank of Australasia failed for £7,500,000. MAY. 1. F. H. Weeks, president of the Land and River Improvement company, West Superior, Wis., assigned. 8. H. H. Warner, the patent medicine manufacturer of Rochester, assigned: liabilities estimated at $500,000. 9. The Bank of Victoria, at Melbourne, suspended, with £2,400,000 liabilities. 11. The Capital National bank, at Indianapolis, suspended. R. R. Robinson & Co., bankers of Wilmington. Del,, failed, with liabilities of over $326,000. 12. The Sioux City (Ia.) Engine works suspended; liabilities, $200,000. Thomas & Sons, whisky dealers in Louisville. failed owing from $150,000 to $400,000. 18. Bank failures at Orleans and Rossville, Ind., at Freeport, O., and Rockford, Mich. Steel company at Bellville, Ills., placed in hands of a receiver. Kendall & Smith, grain dealers of Lincoln. Neb., failed for over $250,000. 15. Erastus Wiman, a New York capitalist, made an assignment. 26. Ex-Secretary of the Treasury Charles Foster of Fostoria, O., assigned, with liabilities of nearly $1,000,000. 28. National banks at Fargo and Lakota. N. D., closed by the comptroller. JUNE. 5. The Kansas Grain company, owning 106 elevators, failed. JULY. 18. Exciting bank panic in Denver. 25. The Erie railway went into the hands of receivers: the floating debt is $6,000,000. AUGUST. 2. The North American Packing and Provision company assigned in Chicago, with $750,000 liabilities. 4. Receivers were appointed for the business of J. H. Walker & Co., dry goods dealers, who succeeded to the Chicago trade of A. T. Stewart & Co.; debts, $2,000,000. N. L. Carte & Co., the old tin plate importers, assigned in New York city: liabilities, $850,000. 9. R. H. Coleman, the "Iron King" of Lebanon, Pa., assigned. DECEMBER. 1. Abe Stein & Co., heavy importers of goat skins, hides, etc., failed in New York for over $1,000,000. 4. Green B. Raum, Jr., general merchant and Indian trader at Perry, O. T., failed. The Citizens' National bank of Grand Island, Neb., closed its doors. 5. N. J. Schloss & Co., wholesale clothiers in New York, assigned.


Article from The Columbus Journal, August 22, 1894

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Receiver Restrained. GRAND ISLAND, Neb., Aug. 21.-An injunction was filed by D. C. Zink, against E. M. Westervelt, receiver of the Citizens National bank, to restrain him from the issuance of a receiver's certificate on $21,000 rediscounted paper by the American Exchange National bank of New York.


Article from The San Francisco Call, December 23, 1896

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Must Turn Over the Funds, OMAHA, NEBR, Dec. 22.-The case of E. N. Westervelt, receiver of the Citizens' National Bank of Grand Island, against George A. Mohrenstecker and his bondsmen, have returned a verdict in favor of the plaintiffs for $10,000 and interest, amounting in all to $11,580 25. The defendant was cashier of the defunct bank and it was charged in the petition that he misappropriated funds to the amount of over $10,000 to himself and A. H. Baker, which were invested in real estate, and that he made excess loans to himself and Baker for $25,475.