13358. American Savings Bank (Omaha, NE)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: June 13, 1893
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 93000674

Response Measures

Full suspension, Books examined

Description

June 13–14, 1893: runs on Omaha savings banks (including American Savings) precipitated by failure of McCague Savings Bank and collapse of American National. The American Savings took advantage of the 60-day withdrawal clause during the runs. By July 5–6, 1893 the American Savings Bank went into voluntary liquidation / suspended due to its connection with the failed American Loan & Trust Company (and Omaha & South Texas Land Company). A receiver was later appointed and dividends were paid in 1894. Classified as run → suspension → closure (permanent winding up).

Events (4)

1. June 13, 1893 Run

Cause: Local Banks
Cause Details: Run precipitated by failure/suspension of the McCague Savings Bank and the downfall of the American National (local bank failures undermining confidence).
Measures: Took advantage of the clause allowing sixty days' notice on withdrawals (invoked time limit to check run).
Newspaper Excerpt: There was a run on every savings bank in the city... 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.
Source: newspapers

2. July 5, 1893 Other

Newspaper Excerpt: The American Savings Bank has gone into voluntary liquidation and has asked the State Banking Board to wind up its affairs. This action is due to the failure of the American Loan and Trust company, which was placed in the hands of a receiver ... the investment company being the principal stockholder in the savings bank.
Source: newspapers

3. July 6, 1893 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank went into voluntary liquidation / suspended because it was involved with the failure/embarrassment of the American Loan & Trust Company and losses tied to the Omaha & South Texas Land Company.
Newspaper Excerpt: The American Savings bank has suspended this morning with deposits of $153,000 and assets of $259,000. It was involved in the embarrassment of the American Loan and Trust Company.
Source: newspapers

4. February 24, 1894 Receivership

Newspaper Excerpt: Receiver Thomas of the American Savings bank says he expects about March 10 to declare a dividend to depositors of about 33 1-3 per cent.
Source: newspapers

Newspaper Articles (24)

1. June 13, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 13, 1893

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Run on Omabia Banks. OMAHA, Neb., June 13.-The American National bank closed this morning by order of the comptroller of currency. Runs are now in progress on the Globe Loan and Trust company, the Dime Savings bank and Nebraska Savings bank. No statement of the American bank is yet made, but the clearing house has reused to assist it. It is understood that its affairs are entangeled with those of the McCague Savings bank which closed yesterday afternoon. ad omaha bank runs A run of extensive proportions began on the Omaha Savings Bank at the opening this morning and all the morning the bank was besieged by depositore. Senator Manderson, and Vice-President Kimball of the Union Pacific, directors of the bank, made speeches to the crowd, guaranteeing them their money, but the run was continued. The bank examiner is in charge of the A merican National. 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 May 4th showed capital stock, $200,000; loans and discounts, $531,690 surplus, $16,000; undivided profits, $5,161; due depositors, $577,526. The American Savings bank and Dime Savings bank took advantage of the clause allowing sixty days on deposits. The run on the Omaha Savings

2. June 14, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 14, 1893

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MILD PANIC AT OMAHA. Suspension of a Savings Bank Leads to the Failure of the American National. OMAHA, Neb., June 18.-Omaba passed through a mild financial panic, to-day, as the 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 Bank were closely connected. To meet this emergency a request was made by the American Na. tional upon the Clearing House Association for funds to meet demands. The Clearing House Association was in session until 11 o'clock this morning. It was found that $160,000 would be needed. and the association decided not to advance this amount, as it was feared the securities of the bank could not be realized upon promptly enough to relieve the bank's wants. Accordingly President John L. McCague decided not to open the doors of the bank this morning. This morning depositors, alarmed by reports, began a run on the savings banks of the city, the other national banks not being affected. The heaviest run was on the Omaha Savings Bank, acknowledged to be the soundest concern in the city, where all depositors were paid in cash. At 3 o'clock the bank closed and notified depositors that it would open at 9 A. M. and continue to pay in full. The Dime Savings Bank, the American Savings Bank and the Globe Loan and Trust Company took advantage

3. 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.

4. June 14, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 14, 1893

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BANK FAILURES. Yesterday Contributes a Formidable List of Suspensions. Omaha, Neb., June 13.-The American National Bank was closed this morning by the order of the comptroller of currency. Runs are now in progress on the Globe Loan & Trust Company, the Dime Savings Bank and the Nebraska Savings Bank. No statement of the American bank has yet been made, but the clearing house refused to assist it. A. run of extensive proportions began on the Omaha Savings bank at the opening this morning, and all the morning the bank was besieged with depositors. Senator Manderson and VicePresident Kimball, of the Union Pacific, directors of the bank, made speeches to the crowd, guaranteeing them their money, but the run continued. The American Savings bank and the Dime Savings bank took advantage of the clause allowing sixty days grace on deposites. President McCague of the American National said this afternoon that his bank closed with almost $100,000 in cash, and the exchange in the bank and the mail brought remittances of $20,000 from New York. He said that while adverse circumstances had overtaken the bank, he was positive depositors would be paid in full. The Dime Savings Bank, American Savings Bank and the Globe Loan and Trust Company took advantage of the sixtyday rule, but the other savings banks paid their depositors in full on demand. Kansas City, June 13.-As a result of the suspension yesterday, of the Peoples' Savings Bank, a run was started on the Kansas City Safe Deposit, and the Savings Bank this morning. The bank took advantage of the thirtyday clause, and at noon the run was practically over. None of the other banks experienced a run. Nashville, Tenn., June 13.-The Nashville Savings Bank Company, of which Thomas Semarr is president, and the oldest financial institution in Nashvile, filed articles of assignment tonight. The liabilities are placed at $220,000 and the assets, according to the president's estimate, will pay not more than 25 or 30 per cent. Moberly, Mo., June 13.-The Exchange Bank of Moberly made an assignment today for the benefit of its creditors. No statement has been made yet, but it is believed payments will be made in full.

5. June 14, 1893 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, June 14, 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 business. 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 $200,000 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.

6. 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."

7. June 14, 1893 The Providence News Providence, RI

Article from The Providence News, June 14, 1893

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DEPOSITORS EXCITED. Vallure of the McCague Savings Bank Pre. cipitates a Run on Others. OMAHA, June 14.-There was a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the down. fall yesterday of the A merican National bank, in which the McCagues are largely Interested. The ominous sign appeared on the door yesterday morning, and the crowd which had collected became greatly excited. The McCagues tried to reassure the depostors, 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 rain of deposits all the morning. Bank Examiner Griffith, who took charge of the American National for the comptroller, said the falling off in deposits of the national amounted to nearly $20,000 since May 4, and this had badly crippled the institution.

8. 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.

9. June 15, 1893 The Sauk Centre Herald Sauk Centre, MN

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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.

10. July 6, 1893 The Record-Union Sacramento, CA

Article from The Record-Union, July 6, 1893

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THE BANK PANIC. IT REACHES PUEBLO WITH A VENGEANCE. Four Institutions Close Their Doors in One Day-A Savings Bank at Omaha Goes Under. Special to the RECORD-UNION. PUEBLO, (Col.), July 5.-The bank panic did not reach Pueblo until this morning, and then it came with a vengeance. When the American National opened for business a large number of depositors were waiting to take out their money. The crowd grew, and about 10 o'clock the doors were closed. A notice was posted stating that the bank would commence business again soon, and that the assets were $1,250,000 and the liabilities $650,000. Runs commenced on both the Western National and the First National. The Western National closed its doors before noon. They have deposits of over $1,000,000, and were always considered very strong. Hundreds stood in and about the First National Bank all day, and the depositors were paid as fast as the paying teller could handle them. The general expectation is that the First National will be able to pay its creditors in full when called for, and they cannot be forced to close. The Central National closed at noon. The assets are about $170,000, and the liabilities about $70,000. A run was made on the Pueblo Savings Bank, but they took advantage of the law which allows them sixty days. The bank is regarded as perfectly safe. A much better feeling prevails this evening, and the worst is believed to have passed. Each of the closed banks will pay in full as soon as they can realize on collateral. FAILURES AT OMAHA. OMAHA (Neb.), July 5.-The American Savings Bank has gone into voluntary liquidation, and asked the State Banking Board to wind up its affairs. The action is due to the failure of the American Loan and Trust Company, which was placed in the hands of a receiver this afternoon at the instance of the directors of the concern, the company being the principal stockholder in the savings bank. The failure of the investment company is attributed to the failure of the Omaha and South Texas Land Company and the American Loan Company. The first of the concerns embarrassed had a paid-up capital of $400,000. The savings bank was an offshoot, with a capital stock of $400,000, of which $100,000 was paid up. O. M. Garter is President of both institutions. Since the failure of the McCague Bank the American Savings has effected a reduction of deposits to $9,000, the remaining securities amounting to $253,000 of the best. The total liabilities amounted to but $153,000. Carter gave a mortgage on his residence property yesterday for $50,000, to protect one of the Eastern creditors, from whom no money was secured, No statement of the bank's exact condition can be obtained to-night.

11. July 6, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, July 6, 1893

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Each of the closed banks can pay in full as soon as it can realize on its collateral. The Bank of Florence at Florence, Colo., closed its doors to-day. It was a branch of the American National Bank of Pueblo. Its assets and liabilities are unknown, but it is claimed that the depositors will be paid in full. OMAHA, July 5.-The American Savings Bank has gone into voluntary liquidation and has asked the State Banking Board to wind up its affairs. This action is due to the failure of the American Loan and Trust Company, which was placed in the hands of a receiver this afternoon at the instance of the directors of the concern, the company being the principal stockholder in the savings bank. The failure of the Investment Company Is attributed to the failure of the Omaha and South Texas Land Company. The American Loan Company, the first of the concerns embarrassed, had a paid up capital of $400,000. The Savings Bank was an offshoot with a capital stock of $400,000, of which $100,000 had been paid up. O.M. Carter was president of both institutions. Since the failure of the Mecague Bank the American Savings has effected a reduction of its deposits to $119 000. The remaining securities, amounting to $353,000, are of the best. The total liabilities amounted to but $153,000. Carter gave a mortgage on his residence yesterday for $50,000 to protect one of the Eastern creditors from whom money had been secured. No statement of the bank's exact condition can be obtained to-night. KANSAS CITY, July 5.-Creditors took possession of the stock of the Golden Eagle Clothing Company on a $50,000 chattel mortgage. The liabilities and assets are even at $90,000. GARDEN CITY, Kans., July 5.-The Finley County Bank has failed. There is no statement. WINNIPEG, July 5.-The Commercial Bank has gone into liquidation. Liabilities $3,270,000, assets $1,981,000. The bilis of the bank go under the Dominion law. NIAGARA FALLS, July 5.-A receiver has been appointed for the Cataract Bank. Assets $755,000. lia bilities $1,027,000. KANSAS CITY, Mo., July 5.-The Haskell Show-printing Company, one of the largest concerns of the kind in the Middle and Western States, made an assignment to-day. The assets and liabilities are not known.

12. July 6, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, July 6, 1893

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Gone Into Liquidation. OMAHA, Neb., July 5.-The American Savings bank has gone into voluntary liquidation and has asked the state banking board to wind up its affairs. This action is due to the failure of the American Loan and Trust company, which was yesterday afternoon placed in the hands of a receiver at the instance of the directors of that concern, the investment company being the principal stockholder in the savings bank. The failure of the investment company is attributed to the failure of the Omaha & South Nebraska Land company.

13. July 7, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 7, 1893

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Receivership in Texas. [By telegraph to the Dispatch.] GALVESTON, TEX., July 6.-Judge Bryan yesterday appointed H. E. McGregor receiver of the Omaha and South Texas Land Company. Liabilities, $400,000; no schedule of assets filed. A BANK CONNECTION SWAMPED. OMAHA, NEB., July 6.-The American Savings Bank suspended this morning, with deposits of $153,000 and assets of $259,000. It was involved in the embarrassment of the American Loan and Trust Company through the latter's enterprise, the Omaha and South Texas Land Company.

14. July 7, 1893 The Herald Los Angeles, CA

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BANKS. Comptroller Eckels' Information Abont Suspended Institutions. WASHINGTON, July 6.-The comptroller of the currency is informed that the First National bank of Los Angeles, Cal., and the Southern California National bank of the same place, which suspended recently, will open their doors for business again within 8 few days. The comptroller is informed that the First National bank of San Diego, which reopened for business yesterday, received deposits to the amount of $25,000, as against withdrawals to the amount of $8000. This is regarded as evidence of returning confidence. The Washington National bank of Spoliane reopened for business this morning. Comptroller Eckels states that the information given out in his office yesterday that he directed Bank Examiner Wilson to take charge of the First National bank of Albuquerque, N. M., was a mistake. The name of the failed institution, is the Albuquerque National bank. F ve national banks failed yesterday and this morning. as reported to Comptroller Eckels. They were the American National bank of Pueblo, Colo., the Central bank of Pueblo, Colo., the Puget Sound National bank of Everett, Wash., the National Bank of Ashland, of Ashland, Neb., and the First National bank of Winslow, N. C. Comptroller Eckels has directed Examiner Brown to assume charge of the two above named failed banks at Pueblo: Examiner Horine, of the failed Ashland bank; Examiner Cleary, of the failed Everett bank; Examiner Cascadon, of the failed Winslow, N. C., bank. OMAHA, Neb., July 6.-The American Savinga bank has suspended. Deposits, $153,000; assets, $259,000. WATERTOWN, N. Y., July 6.-A run was started on the Jefferson County Savings bank today. The bank continued paying all demanda after closing hours and it is believed the run is over.

15. July 7, 1893 The Sun New York, NY

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An Omaha Bank Suspends. OMAHA. Neb., July 6.-The American Savings Bank suspended this morning with deposits of $153,000 and assets of $259,000. It was involved in the embarrassment of the American Loan and Trust Company. through the latter's enterprise. the Omaha and South Texas Land Company.

16. July 7, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 7, 1893

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FAILURES OF WESTERN BANKS. A FEW MORE SUSPENSIONS REPORTED-TWO BANKS RESUME AGAIN. Omaha, Neb., July 6.-The American Savings Bank suspended this morning with deposits of $133,000 and assets of $239,000. It was involved in the embarrassment of the American Loan and Trust Company. through the latter's enterprise, the Omaha and South Texas Land Company. Everett. Wash., July 6.-On account of inability to realize on securities the Puget Sound National Bank. of Everett. suspended yesterday. The suspension is said to be owing to the refusal of Eastern banks to honor heavy drafts on security affirmed. No statement is yet made. The bank's capital is $100,000. Worthington, Minn., July 6.-The Noble County Bank closed its doors yesterday morning, and its owner, Peter Thompson. made an assignment. Several thousand dollars of county money are tied up. Sumas, Wash., July 6.-The Bank of Sumas suspended payment on Monday. No statement was made. but it is thought creditors will be paid in full. Topeka. Kan., July 6.-Two Kansas banks closed their doors yesterday. The failure of the Finney County Bank, at Garden City, was not unexpected. as the bank has for "Some time been in bad condition. The bank of Leroy, Coffey County, also closed. Washington, July 6.-The Controller of the Currency is informed that the First National Bank of Los Angeles, Cal., and the Southern California Bank of the same place. which suspended recently, will few open their doors for business again within a days. Controller Eckels is adopting precautions in all cases where suspended banks apply for permission to resume. to make sure that the banks are put on an absolutely sound basis before the request is granted in order to guard againt a second suspension within a short time. The Controller is informed that the First National Bank of San Diego, Cal. which reopened for business yesterday, received deposits to the amount of $25.000, as against withdrawals to the amount of $8,000. This is regarded as an evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. Controller his Pckels states that the information given out m office yesterday that he had directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. M., was a mistake. The name of the failed bank was the Albuquerque, N. M., National Bank. Five National banks failed yesterday and this morning, as reported to Mr. Eckels. They were the American National Bank of Pueblo, Col.: the Central National Bank of Pueblo, Col.: the Puget Sound National Bank, of Everett. Wash.: the National Bank of Ashiand, Neb., and the First Na tional Bank of Winston, N. C. Controller Eckels has directed Examiner Brown to assume charge of the two banks at Pueblo. Examiner Horine of the Ashland bank, Examiner Cleary of the Everett bank and Examiner Carskadon of the Winston bank.

17. July 14, 1893 The Weekly Union Times Union, SC

Article from The Weekly Union Times, July 14, 1893

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FAILU Troubles In States Banks and Merchants Cannot Main. Until tain Their Position Congress lieves the Situation. KANSAS BANK FAILURE. TOPEKA, KAN.-Two Kansas banks have closed their doors. The failure of the Finney county bank, at Garden City, was not unexpected, as the bank ER. has for some time been in bad condition. ke The bank of Leroy, Coffey county, was b. also closed. oudon A PUGET SOUND BANK FAILS. $ and EVERETT, WASH.-Or account of the (inability realine the at 1 n the has suspended. D y Sir COUNTY MONEY IN A FAILED BANK. b Sudi WORTHINGTON, MINN.--No County he he. Bank closed its doors Thursday morning. t the f Its owner, Peter Thomas, has made an amous assignment. Several thousand dollars of t es be G county money are tied up in it. about A SAVINGS BANK COLLAPSES. W or on t OMAHA, NEB.-The American Savings was tl Bank suspended Thursday with deposits club tl of $153,000 and assets of $259,000. It atrol was involved in the embarrassment of the t yman z American Loin and Trust Company, re he F through the latter's enterprise, the Omaha e was rd and South Texas Land Company. was A SPECULATOR FAILS. b wrote li OTTUMWA, IA.-A. C. Leighton, a truck ca prominent capitalist and speculator of was this city has assigned. His liabilities are id the st about $189,000; assets $890,000. riate to A TEXAS LAND COMPANY ASSIGNS. h GALVESTON, TEX.-Judge Bryan apmes, to pointed H. E. McGregor receivor of the isky be Omaha & South Texas Land Company. Agrico The liabilities are $400,000. No schedule July, of assets was filed. su burt. an THIS IS GRATIFYING tatew An analysis of the Statistics of business the in failures of the United States for the past cious ba six months by the Ghattanooga Trades derly ste man discloses the fact that the Southern rend States have withstood the financial crisis ph be Or better than any other section of the r for mi country. reDISTRESS OUT WEST. E O tw TOPEKA, KAN.-The Findlay County CO Bank, of Garden, Kan., has failed. State we Bank Commissioner Breitdenthal is there di investigating. sta AMERICAN NATIONAL BANK SUSPENDS. se are placed by the bank officers at $1,250.th 000, and the liabilities at $635,000. O. to P. H. Baxter, one of the wealthiest men in the State, is president. It is believed that the bank will be able to retio sume business shortly, because its assets Pr are in good shape. There is no excitement among the depositors of the other banks. da A BAD FAILURE. wr ho DENVER, CoL.-The failure of the Chaffee County Bank at Salida Saturday pla 1 proves to have been a bad one, and it ion. vil looks as though the institution had been looted. Liabilities, $80,000, and the par e. dis genuine assets only $8,000. Irson A NORTH CAROLINA BANK. tri avis far WINSTON, N. C. -The Frst National arn. DAUS or rul They Go day morning. It is believed that the I., me bank will be reorganized and that it will son. mu resume business within a month. ding be

18. August 10, 1893 The Somerset Reporter Skowhegan, ME

Article from The Somerset Reporter, August 10, 1893

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Russian fleet has left Newport, R. L, for New York--Charles W. Varrell. who attempted suicide at Portsmouth, N. H., a week ago, is dead-Free coinage of silver at an increased ratio is the idea with which the silver men in congress will try to defeat the president's plans-Repreentative Burrows favors the repeal of the Sherman law and thinks it should be easly accomplished-Mr. Bland says financial legislation must come before the Sherman law is repealed. Sunday, Aug. 6. The Massachusetts nautical training Thip Enterprise arrived at Southampton after a short and pleasant voyage spondency was the case of Annie Smith's attempted suicide at Williamsbarg, N. Y-The grand jury held no one responsibill for AND - fire E The opening of a remarkable gas well near Saratogo has caused much alarm to spring owners- A Kansas city man was buncoed out of $7500 at hway, N. J Four per cent United States bonds of large denominations are being exchanged for smaller denominations at the treasury department-Populists are devising a gigantic scheme of government ownership of railroads-Four would-be lynchers were shot and killed in Boone township, Ind-Two persons were killed and four injured by lightning in the street at East New York-Three persons were killed and 25 injured in a railroad wreck in Ohio-Prof Emerson of Amherst col lege was fatally hurt-Eariy Bird won the free-for-all trot at Fairfield. MeJohn Enos of New Bedford, Mass., cut his throat and will -Theatrical Manager Murphy of Haverbill, Mass. is missing -Suspended banking institution at New Bedford, Mass., will pay depositors dollar for dollar-Officials at Manches ter. N. H., now believe that Cashier Mor rill has not left this country-The Richmond (Me.) Savings bank has suspended-Now Haven's proposed new electric road is new an assured fact— Edward L. White, general manager of the Waterbury (Conn.) Watch company, is dead. Monday, Aug. 7. Pastor Thompson, in a discourse on "Truth" at Brockton, Mass., declared his innocence of charges of immorality and untruthfulness Peter Walters was killed by the accidental discharge of a gun at Springfield, William T. Reagan was run over by a freight train at Lowell, Mass., while intoxicated and his right leg was crushed. It was amputated, but the man died-Michael Connelly, aged 25, a 'longshoreman, was found drowned in a dock at Portland, Me-Everett H. Sweet, formerly publisher of The Advo. cate at Attleboro, Mass., and lately city treasurer of San Pedro, Cal., died of consumption. He was born in Worcester, Mass. 35 years ago-Z. A. Hubley and W. E. Cas' of Worcester, Mass., are on a shooting excursion at Black Point, N. S. A gun exploded and shattered Mr. Hubley's left hand, which will have to be amputated Eastern Massachusetts was visited by a severe thunder storm-By the bursting of a 20,000,000-gallon reservoir at Portland, Me, four persons were killed. There was a wild rush of waters on Eastern promenade-For the 12th time in the history of the United States congress was convened at noon today in "extraordinary" session-Dr. McGlynn's return to priestly ministrations was celebrated in St. Finbar's church, Bath Beach, N. Y-The German emperor has placed an order for a 90-footer with Yacht Designer Watson-Copyright and Strathmeath ran a dead heat at Saratoga Racing park-The American Savings bank of Omaha is to resume business-The Pennsylvania railroad effected a $3,000,000 loan in London-George J. Gould says he doubts if he could raise $10,000,000 at short notice- Fred Hovey won the final in the Chicago tennis tournament. Tuesday, Aug. 8. The Masonic temple at Fresno, Cal., was burned-Lynn (Mass.) banks will not cash outside checks-Two boys were killed by a train at Sarnia, Ont.-Three boys were d:owned at Grand Forks, Mich.-Three persons were drowned near Detroit-The Pacific nail works, Oakland, Cal., were destroyed by fireThe tax rate in Dedham, Mass., this year will be $15.20 per $1000-The outlook for the striking Kansas miners is discouraging-The steamer Scythia run into a fog which lasted three days-The crop prospects in Minnesota and Dakota are improved—The Pacific bank of San Francisco was looted of $800,000 by officers--The government of Argentine refused to interfere in the state revolts— General Peach will not resign from the command of the Second (Mass.) brigade -Work was resumed at the American Watch company's factory at Waltham, Mass., by half the hands-The bank commissioners have declared the New Bedford (Mass.) Safe Deposit and Trust company solvent - The reconstructed Iron Hall is trying to have its funds restored in order that it may resume business-Some Beverly (Mass.) people will vote against a city charter because they have fun at the r town mestings-A bridge at Richmond collapsed and two negroes and many head of cattle were drowned-Brakemen of the Evansville and Terre Haute road will lend the road money, but will oppose reduction of

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

Article from Omaha Daily Bee, October 1, 1893

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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.

20. February 25, 1894 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, February 25, 1894

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Elisha D. Stockton. SYRACUSE, N. Y., Feb. 24.-Elisha D. Stockton of Paducah, Ky., superintendent of a large spoke factory and prominently identified with the business interests in that place, died from spinal trouble this morning on the southwestern limited New York Central train east of Rochester. Norman L. Munro. NEW YORK, Feb. 24.-Norman L. Munro, the well known publisher and yachtsman, is dead. LOCAL BREVITIES. Health Commissioner Saville has ordered a cleaning up at Rescue hall and has given orders that no more men be received at the hall. Receiver Thomas of the American Savings bank says he expects about March 10 to declare a dividend to depositors of about 33 1-3 per cent. Leon Kopald, proprietor of the European hotel at Tenth and Howard streets, fell dead on arising from his bed yesterday morning with apoplexy. He was 47 years old and leaves a wife and seven children. The funeral will be held today. Annie Barta, a girl who recently came to this country from Bohemia and who had been in Omaha only a few months, died at St. Joseph's hospital yesterday of typhoid malaria. The remains were taken to Heafey's undertaking rooms.

21. March 10, 1894 The Waco Evening News Waco, TX

Article from The Waco Evening News, March 10, 1894

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Wants to Pay a Dividend. Omaha, Neb., March 10.-The time allowed for the filing of claims by depositors and others interested in the defunct American Savings bank expired today, and on Monday Receiver Thomas will make application to the court for authority to pay a dividend. He has enough funds on hand to pay a dividend of 33} per cent of the deposits and leave a balance for contingencies.

22. March 24, 1894 The Dickinson Press Dickinson, ND

Article from The Dickinson Press, March 24, 1894

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Otherwise. An earthquake shock was experienced at Woodward, Iowa. It is said that opium smugglers of Victoria, B. C., are raising a fund to secure favorable legislation at Washington. Another case of small-pox at Columbus, Ohio, is Herman Donovan. He is quarantined in a livery stable. At Mount Pleasant, Iowa, workmen found a meteoric stone which they had seen fall to the earth. Cincinnati members of the Knights of Labor are said to be preparing an attack on Secretary Hayes. Small-pox in a bad form has appeared at Braidwood, III. Many persons have been exposed to the disease. Philip D. Armour denies that he intends to give $500,000 to found a school for manual training in San Francisco. A receiver has been appointed for the Northeast Street Railway at Kansas City. Indiana Spiritualists will hold a three weeks' meeting at Anderson, beginning July 19. The water-works bonds of Pana, III., were sold to Deitz, Dennison & Pryor, of Cleveland, Ohio, for $39,151. A receiver was appointed for the Madison. Iowa, Water and Light company at the request of the Central Trust company of New York. Attorney E. M. Kinman, of Jacksonville, Illinois is missing and fears for his safety are felt. He went duck hunting a week ago. The Joe B. Williams passed Louisville with a fleet of coal barg covering eight acres and containing 1,000,000 bushels of coal. A dividend of 33 1-3 per cent was paid to depositors of the defunct American Savings Bank at Omaha, Neb. W. C. Owens has begun his campaign at Lexington, Ky., for the seat in congress now held by W. C. P. Breckinridge. It is said the Norfolk & Western Rallroad Company will soon secure control of the Ohio Southern and will extend it to Chicago. The state convention of Prohibitionists meets in Indianapolis, Ind., and will trv to form a coalition with the Populists. Mr. Greenhut is in New York to settle differences between the American Distributing and the Distilling companies. The state veterinarian reports to the Illinois board of live stock commissioners the existence of two cases of glanders in horses in Pike county. Steel works covering 800 acres of land and employing 3,000 men will be remover from Jamestown, Pa., to Cleveland, Ohio. Heirs of J. Lemen recovered $3,000 life insurance in a suit against the Knights of Phythias at Shreveport, La. Suicide was the defense. The body of George Ash, who was drowned last October at Dallas City, Ilinois, was found in the Mississippi at Alton, Ilinois, and identified by papers. At a meeting of the Louisville Southern bondholders of the Louisville it was decided by 18 to 11 to oppose the Drexel, Morgan & Co., reorganization plan. A list of members of an A. P. A. lodge at Cleveland has fallen into the hands of Catholics, who threaten to institute a boycott. Trouble in the German Presbyterian church at Dubuque, Iowa, has led to the seceding of 100 members, who will form an independent church. Senator Richard Coke of Texas nas notified the Democratic state committee that he will retire from public life at the close of his present term. Horace M. Hadley has been appointed receiver for the Bedford Stone company at Bedford. Ind. The total assets are $95,000. The liability are about $50,000.

23. March 24, 1894 The Washburn Leader Washburn, ND

Article from The Washburn Leader, March 24, 1894

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Otherwise. An earthquake shock was experienced at Woodward, Iowa. It is said that opium smugglers of Victoria, B. C., are raising a fund to secure favorable legislation at Washington. Another case of small-pox at Columbus, Ohio, is Herman Donovan. He is quarantined in a livery stable. At Mount Pleasant, Iowa, workmen found a meteoric stone which they had seen fall to the earth. Cincinnati members of the Knights of Labor are said to be preparing an attack on Secretary Hayes. Small-pox in a bad form has appeared at Braidwood, III. Many persons have been exposed to the disease. Philip D. Armour denies that he intends to give $500,000 to found a school for manual training in San Francisco. A receiver has been appointed for the Northeast Street Railway at Kansas City. Indiana Spiritualists will hold a three weeks' meeting at Anderson, beginning July 19. The water-works bonds of Pana, III., were sold to Deitz, Dennison & Pryor, of Cleveland, Ohio, for $39,151. A receiver was appointed for the Madison, Iowa, Water and Light company at the request of the Central Trust company of New York. Attorney E. M. Kinman. of Jacksonville, Illinois is missing and fears for his safety are felt. He went duck hunting a week ago. The Joe B. Williams passed Louisville with a fleet of coal barges covering eight acres and containing 1,000,000 bushels of coal. A dividend of 33 1-3 per cent was paid to depositors of the defunct American Savings Bank at Omaha, Neb. W. C. Owens has begun his campaign at Lexington, Ky., for the seat in congress now held by W. C. P. Breckinridge. It is said the Norfolk & Western Railroad Company will soon secure control of the Ohio Southern and will extend it to Chicago. The state convention of Prohibitionists meets in Indianapolis, Ind., and will try to form a coalition with the Populists. Mr. Greenhut is in New York to settle differences between the American Distributing and the Distilling companies. The state veterinarian reports to the Illinois board of live stock commissioners the existence of two cases of glanders in horses in Pike county. Steel works covering S00 acres of land and employing 3,000 men will be remover from Jamestown, Pa., to Cleveland, Ohio. Heirs of J. Lemen recovered $3,000 life insurance in a suit against the Knights of Phythias at Shreveport, La. Suicide was the defense. The body of George Ash, who was drowned last October at Dallas City, Ilinois, was found in the Mississippi at Alton, Ilinois, and identified by papers. At a meeting of the Louisville Southern bondholders of the Louisville it was decided by 18 to 11 to oppose the Drexel, Morgan & Co., reorganization plan. A list of members of an A. P. A. lodge at Cleveland has fallen into the hands of Catholics, who threaten to Institute a boycott. Trouble in the German Presbyterian church at Dubuque, Iowa, has led to the seceding of 100 members, who will form an independent church. Senator Richard Coke of Texas nas notified the Democratic state committee that he will retire from public life at the close of his present term. Horace M. Hadley has been appointed receiver for the Bedford Stone company at Bedford, Ind. The total assets are $95,000. The liability are about $50,000.

24. March 31, 1894 The Bottineau Pioneer Bottineau, ND

Article from The Bottineau Pioneer, March 31, 1894

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Otherwise. An earthquake shock was experienced at Woodward, Iowa. An early opening of lake navigation is promised. It is said that opium smugglers of Victoria, B. C., are raising a fund to secure favorable legislation at Washington. Another case of small-pox at Columbus, Ohio, is Herman Donovan. He is quarantined in a livery stable. At Mount Pleasant, Iowa, workmen found a meteoric stone which they had seen fall to the earth. Cincinnati members of the Knights of Labor are said to be preparing an attack on Secretary Hayes. Small-pox in a bad form has appeared at Braidwood, Ill. Many persons have been exposed to the disease. Philip D. Armour denies that he intends to give $500,000 to found a school for manual training in San Francisco. The water-works bonds of Pana, III., were sold to Deitz, Dennison & Pryor, of Cleveland, Ohio, for $39,151. A receiver was appointed for the Madison, Iowa, Water and Light company at the request of the Central Trust company of New York. Attorney E. M. Kinman, of Jacksonville, Illinois is missing and fears for his safety are felt. He went duck hunting a week ago. The Joe B. Wliliams passed Louisville with a fleet of coal barges covering eight acres and containing 1,000,000 bushels of coal. A dividend of 33 1-3 per cent was paid to depositors of the defunct American Savings Bank at Omaha, Neb. W. C. Owens has begun his campaign at Lexington, Ky., for the seat in congress now held by W. C. P. Breckinridge. It is said the Norfolk & Western Railroad Company will soon secure control of the Ohio Southern and will extend it to Chicago. The state convention of Prohibitionists meets in Indianapolis, Ind., and will try to form a coalition with the Populists. Mr. Greenhut is in New York to settle differences between the American Distributing and the Distilling companies. The state veterinarian reports to the Illinois board of live stock commissioners the existence of two cases of glanders in horses in Pike county. Steel works covering 800 acres of land and employing 3,000 men will be remover from Jamestown, Pa., to Cleveland, Ohio. Heirs of J. Lemen recovered $3,000 life insurance in a suit against the Knights of Phythias at Shreveport, La. Suicide was the defense. The body of George Ash, who was drowned last October at Dallas City, Ilinois, was found in the Mississippi at Alton, Ilinois, and identified by papers. At a meeting of the Louisville Southern bondholders of the Louisville it was decided by 18 to 11 to oppose the Drexel, Morgan & Co., reorganization plan. A list of members of an A. P. A. lodge at Cleveland has fallen into the hands of Catholics, who threaten to institute a boycott. Trouble in the German Presbyterian church at Dubuque, Iowa, has led to the seceding of 100 members, who will form an independent church. Senator Richard Coke of Texas has notified the Democratic state committee that he will retire from public life at the close of his present term. Horace M. Hadley has been appointed receiver for the Bedford Stone company at Bedford, Ind. The total assets are $95,000. The liability are about $50,000. Capt. David Coull, of the steamer Castilian Prince, reports seeing a water spout of great size off Hatteras coast. Trouble over the expenditure of city funds at South Enid, Okla., has reached a stage where bloodshed is feared. Joseph Mastuskowitz, one of the survivors of the Jeansville disaster, has brought suit against J. C. Hayden & Co., the owners of the colliery. He and two companions were imprisoned in the mine nineteen days, and the plaintiff claims that his health was shattered by the exposure. He sues for $25,000 damages.