Farmers & Merchants Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 1, 1893
Location: Red Cloud, Nebraska (40.089, -98.520)

Metadata

Model: gpt-5-mini
Short Digest: 6d96dddc

Response Measures

None

Description

Newspaper (The Sun, 1893-07-02) reports the Farmers' and Merchants' Bank of Red Cloud closed yesterday. No mention of a depositor run; no statement or receivership reported in this clipping. Classified as suspension leading to closure (no reopening mentioned).

Events (1)

1. July 1, 1893 Suspension

Cause Details: Article gives no reason for closure; no rumors or runs mentioned in this clipping, and no government action specified in text; cause unknown from available excerpt.
Newspaper Excerpt: The Farmers' and Merchants' Bank of this place closed yesterday. No statement has been made.
Source: newspapers

Newspaper Articles (1)

1. July 2, 1893 The Sun New York, NY

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Article Text

Minor Business Troubles. GEORGETOWN. Col., July -The bank of Clear Creek county made an assignment yesterday to Lafayette Hanchett. A placard was hung un on the window of the bank announcing as follows: "If conditions change so that we can obtain money on our securities we shall resume at once. The assets are $397.900. liabilities $233,000. GLOUCESTER Mass.. July 1. - A voluntary petition in insolvency has been filed by G. Hodgkinson & Co., rish merchants. They owe $42.607. and have assets of about $13,000. CHATTANOOGA. July 1.-The Bloch Drug Company made a general assignment yesterday. No preference. The assignment is made to protect the business for liquidation. as it has been the intention for some time to wind the business up. The liabilities are about $50,000 and the assets are said to be ample to pay all creditors. Prosper Lazard was named as trustee. PITTSBURGH, July 1. - The Speer White Sand Company of 91 Fifth avenue. made an assignment this afternoon to J. H. Speer city, one of the company's officials. Mr. Speer said that its liabilities are $60,000. and its assets $250,000. According to Mr. Speer the stringency of the money market. unfortunate investments in sand lands and works at Dawson. Pr.. and the unusual shut down of the plate glass mills caused the difficulty. SALT LAKE. Utah. July The First National Bank of Provo closed its doors yesterday morning. The assets and liabilities are each $115,000. Officials expect the bank will soon resume business MUSKEGON. Mich., July 1.-The Muskegon Iron and Steel Company went in n receiver's hands yesterday. Assets and liabilities are not obtainable, the receiver being at work on the list. The company has a paid up capital of $200,000, and last January reported debts of $160,000; credits. $20,000: real and personal property. $316,000. BEATRICE. Neb.. July ..-The Nebraska National Bank and American Bank failed to open their doors this morning. Each bank had a capital of $100,000. RED CLOUD. Neb., July -The Farmers' and Merchants' Bank of this place closed yesterday. No statement has been made.