14488. Silver City bank (Silver City, NM)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 3, 1892
Location
Silver City, New Mexico (32.770, -108.280)

Metadata

Model
gpt-5-mini
Short Digest
e9eb52e4

Response Measures

None

Description

Multiple contemporaneous articles state the Silver City bank suspended/failed in early February 1892 and subsequently was treated as defunct with a receiver appointed and assessments on stockholders; no evidence of reopening. Cause of suspension not explicitly given in articles — described as a failure/suspension and later receivership and assessments. OCR errors corrected (e.g., dates and receiver name Foster).

Events (3)

1. February 3, 1892 Suspension
Cause Details
Articles report the bank 'suspended'/'failed' in early February 1892 but do not ascribe a single clear immediate cause in these excerpts (some mention tightness of the money market elsewhere).
Newspaper Excerpt
The banks failed February 3, 1892, nearly three and a half years ago
Source
newspapers
2. June 2, 1893 Receivership
Newspaper Excerpt
Receiver Foster of the defunct Deming and Silver City banks, intends to order another assessment on the stockholders ... Mr. Foster is pushing the affairs to a settlement as fast as possible, and is incurring the hostility of some of the creditors of the bank, by insisting on their paying up.
Source
newspapers
3. August 1, 1893* Other
Newspaper Excerpt
The stockholders of the Silver City bank have been assessed 50 per cent. Depositors ... have received a dividend of 20 per cent from the receiver and will soon get a second dividend of 10 per cent.
Source
newspapers

Newspaper Articles (12)

Article from The Enterprise, February 10, 1892

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Will Pay Dollar for Dollar. LORDSBURG, N. M., Feb. 8.-The bank examiner's report of the failures of the Deming and Silver City banks which suspended Friday will not be ready for about two weeks, bnt the liabilities will be about $152,000. The officers of the bank say they can pay dollar for dollar and resume business within three months.


Article from Santa Fe Daily New Mexican, September 21, 1892

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, TERRITORIAL TIPS. The new sampling works at Deming are now running sleadily and handling from three to four cars of ore per day. The first killing frost of the season came to Springer on the night of the 12th, when garden vines received their death blow. District court is in session at Los Lunas, and will continue for a week or more. The petit jury was organized Monday. There are two murder cases to be tried. The grass in Grant county is looking better than it has for the past three years, but it is feared it is too late in the season to be of any lasting benefit to the cattle. men. The exhibit of bugs from the agricultural college, by Prof. C. H. Tyler Townsend, at the fair, was well worth attention, and embraced 352 different specimens, all from New Mexico. The Goss military institute, of Roswell began its term for the ensuing year on the 1st inst., with flattering prospects. The opening day showed an enrollment of sixty cadets and twenty young ladies. Dan Fisher tells us that many of the Swiss are getting ready to plant a large acreage of cana-agria, and that Mr. Bonaty, Ernest Secretan and C. Cuenod have already got in several acres.-Eddy Citizen. Albuquerque fair note: "The gang of bunco steerers who did thriving business in this city last week, and were unmolested by the city authorities, have folded their slick games and gone to newer fields of labor." Deming dot: It is altogether likely that any attempt made to register the Chinese residents will meet with determined opposition. The Chinaman will not believe that such a law has been put into effect, and say they will carry the question into the courts. County Treasurer Berg and Louis Altman have returned from Las Cruces to Grant county. They had been summoned to appear before the grand jury as witnesses in the case of the United States against the officers of the defunct Silver City and Deming banks. J. Crockett Givens, dealing in general merchandise at Central City, Grant county, assigned Saturday for the benefit of his creditors. The tightness of the money market is supposed to have been the cause of the failure. It is believed that he will be able to pay dollar for dollar. Woman's world fair note from San Juan county: "Owing to the kindly services of Mr. S S. Rush we were able to engage the services of Miranda, the expert blanket maker, Mr. Rush having sent Indian runners after her eight weeks ago. They found ber near Santa Fe, and


Article from Western Liberal, June 2, 1893

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Receiver Foster of the defunct Deming and Silver City banks, intends to order another assessment on the stockholders of the Deming bank and this assessment will be up to the limit. Mr. Foster is pushing the affairs to a settlement as fast as possible, and is incurring the hostility of some of the creditors of the bank, by insisting on their paying up. Some people have the impression that because the banks went busted there is no necessity for any one owing the Mr. bank paying their accounts. Foster expects to have the first dividend he pays equal in amount the one paid by the former receiver.


Article from The St. Johns Herald, June 8, 1893

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RECEIVER FOSTER of the defunct Deming and Silver City banks, says the Lordsburg Liberal, intends to order another assessment on the stockholders of the Deming bank and this assessment will be up to the limit. Mr. Foster is pushing the affairs to a settlement as fast as possible, and is incuring the hostility of some of the creditors of the bank, by insisting on their paying un. Some people have the impression that because the banks went busted there is no necessity for any one owing the bank paying their accounts. Mr. Foster expects to have the first dividend he pays equal in amount the one paid by the former receiver.


Article from St. Johnsbury Caledonian, August 3, 1893

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at Stanstead Plain, Aug. 23 and 24. Twenty-five hundred dollars are offered in races and premiums, and there will be a balloon ascension with parachute descent each day. An extra train leaves St. Johnsbury at 7.10 a. m. on the second day of the fair and a round trip ticket from here costs $1.60. -The premium list for the 46th Caledonia county fair has just been issued from the CALEDONIAN office and may be secured of the secretary, N. M. Johnson. This little book of 50 pages gives all the premiums with their conditions, the races, regulations of the society and other valuable information. On the cover is a picture of Raymond, 2.271/4, and his owner, Charles E. Kirk. -Depositors in the National bank at Deming, N. M., have received a dividend of 20 per cent from the receiver and will soon get a second dividend of 10 per cent. The unfortunate stockholders have already been assessed 82 per cent of the value of their stock and are liable for 18 per cent more. The stockholders of the Silver City bank have been assessed 50 per cent. -This week's CALEDONIAN contains another interesting letter from the Underclyffe party describing their stay in Constantinople, Dr. Brooks' second letter from Wyoming, and the first of a series of World's Fair letters. The latter are written especially for the benefit of the great majority of the CALEDONIAN readers who cannot get to Chicago, and a brief description of all the principal sights and exhibits will be given in the series.


Article from Herald and News, August 10, 1893

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State of Vermont. Its News Condensed and Rewritten for Our Readers. The Rutland Driving Park Association has voted not to give a fall race meeting this year. The annual convention of the Vermont W. C.T.U. will be held in Montpelier, September 11 and 12. Hon.David N. Burke of Middlebury has entered upon his duties as United States Consul at Pernambuco, arriving there June 30, Col. C. C. Kinsman. commanding 1st reg't V. N. G., has appointed F.N. Briggs of Brandon, quartermaster Sergeant, to succeed J. E. Creed, promoted to quartermaster. The Temperance Herald, formerly owned and published by W. Arthur Jon at Montpeller, has be 11 sold to John A.LaPorte,who will continue its publication in Lyndon. The condition of ex-City Judge W. H. Hare of Burlington, who has been suffering from softening of the brain, has become so serious that he has been taken to the insane asylum at Waterbury. Louis W. Austin, who has been appointed instructor in physics at the University of Wisconsin. is the son of Prof. L. A. Austin, formerly of Middlebury college and now of Rollins college, Winter Park, Fla. The widow of Rev.C.R. Batchelder, a former rector of Zion's church, Manchester. is still living in the insane asylum at Brattleboro at the advanced age of 88 years.having been an inmate of that institution for nearly 35 years. While Barnum's circus was in Rutland. Dr. Hanrahan lost his pocketbook, containing checks for $1,000, on the grounds, probably by theft. as did also Dr. J. Stanford of Castleton. I C. B. Hemenway of Chittenden lost $60, doubtless stole The directors of the Merchants' NaI tional bank of Burlington are said to be contemplating an increase of their already large capital stock,with a view to taking out additional circulation. They are authorized to increase it up 11 to $1,000,000 in their discretion. Morrisville will hold a special town meeting Saturday of next week, Aug. in 12, to see if the town will vote to grant e the right of way for an electric railroad to Stowe, a distance of eight in miles, and also to see if the town will b vote to give such road financial aid. w W Greene & Leahey, the South Main street hardware men. have a cat which is an educated pugilist, and spars like a veritable John L. Sullivan, standing on his hind legs and using his fore paws with unerring skill, not only in warding off, but in delivering telling blows.-St. Albans Messenger. hi = A peculiar case was presented at the III St. Albans hospital recently, says the St. Albans Messenger, a man insisting that his prospective wife should in submit to the amputation of a limb, bi because of its natural deformity, beW fore he should marry her. The superintendent of the hospital refused to at perform the operation. tr Depositors in the National bank at of Deming, N. M., have received a diviA dend of 20 per cent from the receiver a and will soon get a second dividend of 10 per cent. The unfortunate stockholders have already been assessed 82 pl no per cent of the value of their stock and th are liable for 18 per cent more. The is stockholders of the Silver City bank pl have been assessed 50 per cent.-St. Johnsbury Caledonian. en The fact that several insurance comW re panies have withdrawn from Vermont and that others are contemplating such In a move has caused some criticism of by their officers. In 1891, the premiums paid in Vermont amounted to 8474,an 437; losses, $522,330; per cent of losses to premiums, 110.7. In 1892. the la no T premiums were $532,101; losses,$416,498: per cent of losses to premiums, le 78.3. Insurance companies are not th philanthropists,but do business for the ela money there is in it. and when the balance is against them they natural68 ly cry, "Enough!"-Brattleboro Phoela nix. ch The house of Samuel Crown, on A ca Congress street, was burglarized durGo ing the progress of the parade on cirre cus day, but the burglary was not discovered until several days after, alda dy though, of course, Mr. Crown became cognizant of the fact that an attempt had been made to enter his residence. 1110 as he found a piece cut out of one of als the window panes opposite the winace are dow fastenings. Mr. Crown made considerable sport of the parties who the ha operated a diamond on his window and then did not enter the house. as mirth was cut


Article from Herald and News, August 10, 1893

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Depositors in the National bank at Deming, N. M., have received a dividend of 20 per cent from the receiver and will soon get a second dividend of 10 per cent. The unfortunate stockholders have already been assessed 82 per cent of the value of their stock and are liable for 18 per cent more. The stockholders of the Silver City bank have been assessed 50 per cent.-St. Johnsbury Caledonian.


Article from Albuquerque Weekly Citizen, December 16, 1893

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[From the Daily. December 11.1 W. A. Wilson, the El Paso, Texas. rustler for Armour's packing company. is in the city. H. S Nones arrived yesterday from a three weeks' trip to Denver. He goes south on Wednesday. Albert Eiseman. of the Eiseman Bros., is in the city from Boston He is disappointed in the wool situation. Neill B. Field, who has been acting as attorney for the defunct Silver City and Deming banks, has forwarded his resignation to Receiver E L. Foster. but AM yet the same has not been accepted. J. H. Fenner and wife, of Bradford. Penn., are in the city and will locate Mr. Fenner is a locomotive engineer and and a brother of Mrs. J. M. Happ. wife of the well-known barber at Hahn's R M Turner, formerly of Las Vegas, was in the city Sunday, leaving this morning for El Paso, Texas, where he accepts a position in the United States cus. toma house under Collector Chas Davis Jerry Jones, of Sierra county. the only miner in southern New Mexico that ever sunk an "up-raise," is in the city on business, and this morning called on his old friend. Deputy Revenue Collector Burns. Dr. Macbeth. the picealo player of the First Regimental band, received this morning a new piccalo from Cincinnati. The doctor in an artist at his business. but he expects to do better work with his new instrument The Deming Headlight says: Fred. Gossom, general agent for the Home Life. left to-day for Albuquerque. It is generally understood by some of Fred's friends that he intends to wed one bf Albuquerque's fair damsels ere long. J. B. Bott, of Kansas City, returned to the San Felipe yesterday from Jemez, where it became too cold for him. He sold his business at Kansas City and is now waiting for his wife. Upon her arrival they will procee to the coast. Mrs. W. A Walker returned from the east on Saturday, having visited Chicago, Washington, Raleigh, Atlantic and Natchez while away, having relatives in many places, and comes home in excellent health. Of course Albuquerque is the paradise of all. Her many friends welcome the little lady home.


Article from Southwest-Sentinel, December 19, 1893

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Territorial Items. The Montezuma Hotel at Las Vegas Hot Springs, New Mexico, which has been closed for some time, will be reopened by the Atchison, Topeka & Santa Fe Company in about six weeks.Rio Grande Rep. Mrs. John B. McPherson, of Hillsborough, died last week after many years' illness. The funeral was largely attended. Neill B. Field, who has been acting as attorney for the defunct Silver City and Deming banks. has forwarded his resignation to Receiver E. L. Foster, but as yet the same has not been accepted.Citizen. Free excursions through New Mexico and Arizona are ordered stopped by the railroad companies. Instead of parties of unemployed workmen, the freight trains have been hauling gangs of tramps, who are heading for Kansas to get under the protecting wing of Governor Lewellyn.-Citizen. The cattle queen of New Mexico is Mrs. Taylor, of the Mimbres, in Grant County. She is often seen on her horse among the herds superintending the work of cutting out, branding and gathering the beeves for shipment. By careful management and good business jurisprudence Mrs. Taylor has made cattle raising profitable even throughout its darkest days. There are some other women in New Mexico who have done well in cultivating the frolicsome steer.-Rio Grande Rep. A telephone message from Mora Saturday night, announced that John Doherty, ex-sheriff of Mora county and a worthy and prominent citizen of northern New Mexico, while sitting in his office, between 7 and 8 o'clock that evening was shot and killed by an unknown assassin. No cause is given for the deed, and, as yet, there is no clue to the murderer. A later message said a reward of $2,000 had been offered for the assassin. Great excitement prevails in Mora over the affair. Mr. Doherty leaves a wife and twelve children, and was one of the most useful citizens in all that section.-Optic. Sheriff W. P. Cunningham and Deputy Sheriff Page Otero, of Santa Fe county, arrived in the city from the Territorial capital Saturday night. These gentlemen are working on clues in regard to the mysterious murder of ex-Sheriff Frank Chaves, of Santa Fe, and a few hours after their arrival were closeted with a certain Mexican who claims to know more about the murder than he has heretofore told.-Citizen.


Article from Albuquerque Weekly Citizen, March 10, 1894

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Evidence All In. Special to Citizen. Las Cruces, March 3.-In the case against C. H Dane for embezzlement, the evidence is all in and the arguments before the jury commenced this morning. H. B Fergusson, assistant United States attorney. is making a gallant fight and deserves to win the case A peculiar state of affairs exists in closing up the business of the defunct Deming and Silver City banks. The former receiver, Isaac M. Smith. now deceased. who was quite a considerable stockholder. recommended an assessment on the stockholders of eighty-two per cent at Deming and seventy-five per cent at Silver City. It now becomes apparent that the assessment in each case should have been all the law allows, one hundred per cent, but now it is a matter of grave doubt whether, having called one assessment, the comptroller can call another one for the balance. The depositors are therefore in a very unhappy frame of mind regarding the outlook.


Article from Western Liberal, July 26, 1895

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GRANT county people are still wondering if the end of these Deming and Silver City bank receiverships will ever come. Let's see; about eight years, isn't it, that this matter has been dragged along?-New Mexican. Not quite so bad as that, although it is probably a longer time than that that the banks were insolvent. They were closed in February, 1892. In November, 1892, a dividend was declared. Shortly after this Receiver Smith died and then Receiver Foster was sent out from Kansas to live off the wreck. Against his protest a dividend was declared in October, 1893. This was before Comptroller Eckles had got used to his new job and had begun using all his time fighting free silver. Since then Receiver Foster has been able to work bis rabbit footon the comptroller and no dividend has been declared. Receiver Poster bas commenced many lawsuits against people who own the bank. but against wost of them a judgment is worth no more than an open account. He night have sold the bank ,building sorge time ago for $16,000, but he did not, and now it would not bring $10,000. There does not Feem to he any hope for the depositors except in the appointment of a new comptroller of the currency. With a man in that office who would


Article from Santa Fe Daily New Mexican, July 29, 1895

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The Broken Banks. Grant county people are still wondering if the end of those Deming and Silver City bank receiverships will ever come. Let's see; about eight years, isn't it, that this matter has been dragged along?NEW MEXICAN. Not quite so bad as that. The banks failed February 3, 1892, nearly three and a half years ago, and up to the present time the depositors have received just 40 per cent of their deposits at the time of the failure. The last dividend was paid considerably more than a year and a half ago and it is not believed that the prospects for further dividends are very brilliant. The comptroller of the currency assessed the stockholders in the bank here 50 per cent of the amount of stock, but it has turned out that an assessment of 100 per cent would not more than have paid the depositors in full by this time. Quite a number of worthless judgments have been obtained, but it is questionable whether they could be sold for enough to pay the court costs in obtaining them, to say nothing of the attorney's fees. The murmurs of the depositors have reached Washington, but so far they have been productive of no good results. The former president of the two banks is working for his board in the territorial hotel at Santa Fe and this fact is comforting to some of the losers in the banks, but they still have to mourn the loss of their money.-Silver City Eagle.