14933. Commercial Bank (Cincinnati, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 27, 1895
Location
Cincinnati, Ohio (39.103, -84.515)

Metadata

Model
gpt-5-mini
Short Digest
64e3770ef6952fff

Response Measures

None

Description

Multiple contemporaneous articles (Mar 27–28, 1895) report an unusually heavy run on the Commercial Bank, its suspension of payment, and a deed of assignment to cashier W. H. Campbell the same day. Causes cited are bad paper ($50,000 made good) and long-continued bad management/rediscounting of its own paper. An appraisement filed April 27, 1895 shows liabilities exceed assets and a dividend to depositors — consistent with failure and receivership rather than a temporary suspension/reopening.

Events (4)

1. March 27, 1895 Receivership
Newspaper Excerpt
Later in the day the bank assigned to W. H. Campbell, who was cashier of the bank. ... The attorneys were ordered to draw up the deed of assignment, which was filed a few minutes later.
Source
newspapers
2. March 27, 1895 Run
Cause
Bank Specific Adverse Info
Cause Details
Bank was compelled to make good $50,000 of bad paper and had been rediscounting its own paper for weeks; alleged bad management precipitated withdrawals.
Measures
Bank notified clearing house it could not pay day's clearings; doors were closed/locked; claimed ample securities and temporary suspension.
Newspaper Excerpt
There had been an unusually heavy run on the bank to-day, and it became absolutely necessary to suspend business.
Source
newspapers
3. March 27, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Clearing house refused to honor the bank's clearings after discovery of $50,000 bad paper and an adverse clearing-house committee report; suspension followed heavy withdrawals and concern over asset quality.
Newspaper Excerpt
The Commercial bank to-day notified the clearing house that it could not pay its day's clearings... Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days.
Source
newspapers
4. April 27, 1895 Other
Newspaper Excerpt
The appraisement of the lately suspended Commercial bank has been filed, showing assets valued at $440,000. The liabilities are placed at $600,000. Notice has been given of a 10-per-cent dividend to depositors, payable May 11.
Source
newspapers

Newspaper Articles (18)

Article from The Indianapolis Journal, March 28, 1895

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SUSPENDED PAYMENT COMMERCIAL BANK OF CINCINNATI FORCED TO CLOSE. Clearing House Association Refused to Extend Aid-Securities Ample to Pay Depositors. CINCINNATI, O., March 27.-The Commercial Bank to-day notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. It is stated that the affairs of the bank have been looked into somewhat by other banks and it was concluded that the banks could no nothing to relieve the situation in connection with the Commercial. Later in the day the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank and W. H. Campbell cashier. Cashier W. H. Campbell stated that the bank had but temporary suspended payment and would be all right in a few days. There had been an unusually heavy run on the bank to-day and it became absolutely necessary to suspend business. He said further that the bank held ample securities to pay out to all depositors in time. The Commercial Bank was founded in 1831 and succeeded the branch of the United States Bank when the last went out of business, by buying the building, A number of old-time, solid financiers have been identified with the institution, among them Jacob Strader, Captain Hall, Ethan Stone, Elliot H. Pendleton, Hugh Colville, Armstrong and contemporaries. A number of the large estates of the city and of the Ohio valiey are customers of this bank. To-night it is reported that the affairs of the bank will develop badly. The bank has a paid up capital stock of $328,000 and a surplus of $40,000. Its average deposits were $400,000. The stock was divided into shares of $50 each, and though little trading was done in it, it was quoted on the market at 921/2, asked. It has $900,000 bills receivable, but it is claimed that much of this paper is not good, that the trouble was precipitated by the bank being compelled to make $50,000 of bad paper good yesterday. The directors are Charles B. Foote, a relative of the late Senator Pendleton: William Herron, J. B. Specker, A. B. Batterman and A. B. Hall, who did all they could to prevent the run. Although the bank is the oldest in the State, it is the only one in Cincinnati that had to be carried during the panic two years ago. When the present trouble came on the clearing house appointed a committee to investigate it. The adverse report of the clearing house committee to-day precipitated the trouble, and it is the general opinion that the liabilities will greatly exceed the available assets.


Article from New-York Tribune, March 28, 1895

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A CINCINNATI BANK FAILS. Cincinnati, Ohio, March 27.-The Commercial Bank assigned this afternoon to W. H. Campbell, its cashier. The bank was compelled to make good $50,000 worth of bad paper yesterday. When the bank sent its paper to the clearing house this afternoon the directors of the association, on motion of Cashier Guthrie, of the National Lafayette Bank, suspended payment on the paper, and ordered an investigation of the bank's condition. This move proved fatal and precipitated the failure, which had been impending for some time. President Foote says that the bank will be able to pay dollar for dollar. The bank is the oldest in the city. It was organized in 1831. Charles B. Foote is president. The bank has a paid-up capital stock of $328,000, and a surplus of $40,000. Its average deposits were $400,000.


Article from The Seattle Post-Intelligencer, March 28, 1895

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A Cincinnati Bank Suspends. Cincinnati, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later, the bank assigned to W. H. Campbell, who was its cashier. Charles B. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today, and it became absolutely necessary to suspend business. He said further that the bank held ample securities to pay out to all depositors in time Tonight it is reported that the affairs of the bank will develop badly. The bank had a paid up capital stock of $328,000 and a surplus of $10,000. Its average deposits are $400,000. It has $000,000 bills receivable, but It is claimed that much of this paper is not good: that the trouble was precipttated by the bank being compelled to make $50,000 of bad paper good yesterday. The directors are Charles B. Foote, a relative of the late Senator Pendleton: Wm. Herron, J. B. Specker, A. B. Batterman and A. B. Hall, who did all they could to prevent the run. The adverse report of the clearing house committee today precipitated the trouble, and It is the general opinion that the liabilities will greatly exceed the available assets.


Article from The Times, March 28, 1895

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FAILURE OF AN OLD BANK. The Commercial, of Cincinnati, Forced to Close its Deers. CINCINNATI, March 27.-The Commercial Bank, at 132 Main street, assigned this afternoon to W. H. Campbell, its cashier. The decision to go out of business was reached but a half hour before the assignment was made. The bank was compelled to make good $50,000 worth of bad paper yesterday. When the bank sent its paper to the clearing-house this afternoon the directors of the association, on motion of Cashier Guthrie, of the National Lafayette Bank, suspended payment on the paper, and an Investigation of the bank"s condition was ordered. This move proved fatal and recipitated the failure, which had been impending for some time. The directors of the bank were hastily called together and the attorneys were ordered to draw up the deed of assignment, which was filed a few minutes later. President Foote says that the bank will be able to pay dollar for dollar. The bank is the oldest in the city. It was organized in 1831. Charles B. Foote is president. The bark has a paid-up capital stock of $328,000 and a surplus of $40,000; its average deposits were $400,000. The stock was divided into shares of $50 each, and though little trading was done in it, it was quoted at 921/2 asked. When the first rush was made to the bank it was closed and the doors were locked. The rumor soon gained currency and a crowd of anxious depositors congregated in front of the door of the bank. The bank has been rediscounting its own paper for two weeks, showing conclusively that failure was inevitable.


Article from The Herald, March 28, 1895

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CANNOT PAY ITS CLEARINGS Suspension of One of the Oldest Banks in Cincinnati CINCINNATI, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell. who was its cashier. Charles B. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank today and it became absolutely necessary to suspend business. He said further that the bank held ample securities to pay out to all depositors in time. Tonight it is reported the affairs of the bank will develop badly. The bank has a paid up capital stock of $328,000 and a surplus of $40,000. Its average deposits are $400,000. It has $900,000 bills receivable, but it is claimed that much of this paper is not good; that the trouble was


Article from The Morning News, March 28, 1895

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A CINCINNATI BANK FAILS. The Collapse Attributed to Bad Management. Cincinnati, O., March 27.-The Commercial Bank, located at 132 Main street, assigned this afternoon to W. H. Campbell, its cashier. The decision to go out of business was reported but half an hour before assignment. The bank was compelled to make good $50,000 worth of bad paper yesterday. When the bank sent its paper to the clearing house this afternoon the directors of the association, on motion of Cashier Guthrie of the National Lafayette Bank, suspended payment on the paper and ordered an investigation of the bank's condition. This move proved fatal and precipitated the failure, which had been impending for some time. The directors of the bank were hastily called together and the attorneys were ordered to draw up the deed of assignment, which was filed a few minutes later. President Foote says that the bank will be able to pay dollar for dollar. The bank is the oldest in the city. It was organized in 1831. Charles B. Foote is president. The 'bank has a paid up capital stock of $328,000, and a surplus of $40,000. Its average deposits were $400,000. The stock was divided into shares of $50 each, and very little trading was done in it. When the first rush was made to the bank it was closed and the iron doors were locked tight. The rumor soon gained circulation and a crowd of anxious deposiors congregated in front of the door. The Commercial Bank was at one time the main bank for the steamboats, and the Pendlétons and Thomas Sherlock were heavily interested. The opinion on Third street is that the crash came about through bad management. Swing & Morse, the attorneys for the bank, and Robert Clarke & Co. are among the heaviest depositors. The bank has been rediscounting its own paper for two weeks, showing conclusively that failure was inevitable.


Article from Waterbury Evening Democrat, March 28, 1895

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Cincinnati Bank In Trouble. CINCINNATI, March 28.-The Commercial bank notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, cashier of the bank. Cashfer W. H. Campbell stated that the bank had temporarily suspended payment and would be all right in a few days.


Article from The San Francisco Call, March 28, 1895

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SUSPENDS TEMPORARILY. Assignment of the Commercial Bank to Its Cashier. CINCINNATI, OHIO, March 27.-The Commercial Bank to-day notified the Clearing-house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was its cashier. Charles S. Foote is president of the bank. Cashier Campbell stated that the bank had but temporarily suspended, and would be all right in a few days. There had been an unusually heavy run on the bank to-day, and it became absolutely necessary to suspend business. He said, further, that the bank held ample securities to pay out to all depositors in time.


Article from The Salt Lake Herald, March 28, 1895

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BANK GOES UP. Cincinnati, March 27.-The Commercial bank today notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in this city. Later the bank assigned to W. H. Campbell, who was its cashier; Charles B. Foote is president of the


Article from Evening Journal, March 28, 1895

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Cincinnati Bank In Trouble. CINCINNATI, March 28.-The Commercial bank notified the clearing house that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, cashier of the bank. Cashier W. H. Campbell stated that the bank had temporarily suspended payment and would be all right in a few days.


Article from Birmingham Age-Herald, March 28, 1895

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A CINCINNATI BANK, The Oldest in the City, Goes to the Wall With a Crash-Much Excitement. CINCINNATI, March 27.-The Commercial bank, located at 132 Main street, assigned this afternoon to W. H. Campbell, its cashier. The decision to go out of business was reached but a half hour before the assignment was made. The bank was compelled to make good $50,000 worth of bad paper yesterday. When the bank sent its paper to the clearing house this afternoon the directors of the association, on motion of Cashier Guthrie of the National Lafayette bank, suspended payment on the paper and ordered an investigation of the bank's condition. This move proved fatal, and precipitated the failure, which has been impending for some time. The directors of the bank were hastily called together, and the attorneys were ordered to draw up the deed of assignment, which was filed a few minutes later. President Foote said that the bank will be able to pay dollar for dollar. The bank is the oldest in the city. It was organized in 1831. Charles B. Foote is, president. The bank has a paid up capital of $328,000 and a eurplus of $40,000. Its average deposits were $400,000. The stock was divided into shares of $50 each, and very little trading was done in it. It was quoted at 921/2 asked. When the rush was made to the bank it was closed and the iron doors were locked tight. The rumor soon guined circulation and a crowd of anxious depositors congregated in !rout of the door. The Commercial bank was one time the main bank for the steamboats, and the Pendletone and Thomas Sherlock were heavily interested. The opinion on Third street is that the crash came about through bad management. Swing & Morse, attorneys for the bank, and Robert Clark & Co. are among the heaviest depositors. The tank has been rediscounting it own paper for two weeks, showing con. clusively that failure was inevitable.


Article from St. Paul Daily Globe, March 28, 1895

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Children Cry for Pitcher's Castoria. FAILED AFTER SIXTY YEARS. One of Cincinnati's Oldest Banks in Trouble. CINCINNATI. O., March 27.-The Commercial bank today notified the clearing house that it could. not pay its day's clearings. The Commercial is one of the oldest banks in this city. It is stated that the affairs of the bank have been looked into somewhat by other banks, and it was concluded that the banks could do nothing to relieve the situation in the condition of the Commercial. Later the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank. Cashier W.H. Campbell stated that the bank had but temporarily suspended and would be all right in a few days. There has been an unusually heavy run on the bank today and it became absolutely necessary to suspend business. He said further that the bank had ample securities to pay out to all depositors in time. The Commercial bank was founded in 1831, and succeeded the branch of the United States bank when the latter went out of business by buying the building. A number of oldtime solid financiers have been identified with the institution, among them Jacob Strader, Capt. Hall, Ethan Stone, Elliott H. Pendleton, Hugh Colville, Armstrong and contemporaries. A number of the larger estates of the city and the Ohio valley are customers of the bank.


Article from Little Falls Weekly Transcript, March 29, 1895

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Cincinnati Bank suspends. CINCINNATI, March 28.-The Commercial bank notified the clearinghouse that it could not pay its day's clearings. The Commercial is one of the oldest banks in the city. Later the bank assigned to W. H. Campbell, who was cashier of the bank. Charles B. Foote is president of the bank.


Article from The Diamond Drill, March 30, 1895

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LATER. DISPATCHES from Havana alarmed the Spanish government, as they indicated that the insurrection was spreading rapidly and was already beyond the control of the local commanders. THE State bank of Stanton, Neb., went into voluntary liquidation. MISS AMY THILL, an actress, aged 24, was murdered in New York by John Bigelow, an actor, who then ended his own life. MRS. FRANK ANNIS perished in her burning home near Fenton, Mich. THE firm of Malcolm & Waterbury, of Chicago, which did an extensive bucket-shop business in Illinois, Missouri, Nebraska and Iowa, failed for $100,000. MANITOBA was in a state of open re bellion against Canada over the order to restore separate Catholic schools. OFFICERS of the Queen & Crescent railroad intercepted train robbers at Greenwood, Ky., and killed two of them. GREAT BRITAIN will demand of Spain an explanation of the wanton killing of an English sailor at Cuba. THE Commercial bank at Cincinnati, a state institution long regarded as financially solid, closed its doors with liabilities of $1,000,000. A SETTLEMENT of the Davis will contest was effected by the heirs of the Montana millionaire. BURGLARS, in an attempt to find hidden money, cruelly tortured Mrs. Mary Berger, aged 86 years, at Springfield, III. FOUR counterfeiters, Jefferson May and John, James and Chauncey Boyer, were arrested at Rockford, III. THE mayor and board of trustees of Madison, III., were found guilty of malfeasance in office for permitting a gambling house to run. THE Auburn state bank, located at the village of Auburn. III., was robbed of something over $1,000 by burglars. THE Clarence bank at Clarence, Mo., suspended with liabilities of $80,000. FIRE at West Superior, Wis., destroyed J. P. Nelson's property and his wife and three children were probably fatally burned. THE home of Chris Christianson at Minot, N. D., was burned, and five of his nine children were cremated. JANE HARRIS, of Monticello, N. Y., died at the age of 104 years. ATTORNEY GENERAL OLNEY says that the printing of facsimiles of foreign postage stamps is a violation of the act of 1891, which prohibits the counterfeiting of foreign obligations or securities.


Article from The Diamond Drill, March 30, 1895

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HEAVY FAILURES. Big Bucket Shop in Chicago Closes -Several Banks Suspend. CHICAGO, March 28.-The firm of Malcolm & Waterbury, which did an extensive bucket-shop business in Illinois, Missouri, Nebraska and Iowa, made an assignment Wednesday to George Wiley, a board of trade man. The crash came suddenly at the noon hour in the head office of the concern, room 52, 121 La Salle street, which was in charge of T. B. Waterbury. It was an unpleasant surprise to the patrons and creditors, the liabilities, it is understood, being $80,000, and the assets nothing. The house was heavily on the bear side of the market, and the recent rise in wheat and pork proved too much for the firm. The assignment was immediately followed by the closing of the twentyseven branch offices, which were connected by a system of leased wires with the Chicago office. In Illinois, outside of Chicago, the firm did business at Sterling. Dixon, Clinton, Odell, Pontiac, Lexington, Lincoln, Atianta; in Iowa at Davenport, Newton, Colfax, Des Moines, Stuart, Atlantic, Walnut, Cedar Rapids, Tama, Marshalltown, Nevada, Boone, Jefferson, Carroll and Logan; in Nebraska at Omaha and Lincoln and in Missouri at St. Louis. O. F. Maleolm, the other member of the firm, was in charge of the Omaha office. DES MOINES, Ia., March 28.-Over $50,000 of good Iowa money was lost in the failure of the Malcolm & Waterbury bucket shop in Chicago Wednesday. Because of the failure, which was said to be caused by the advance in pork and stock, local offices in many of the towns along the lines of the Rock Island and Northwestern roads failed. CINCINNATI, March 28.-The Commercial bank, located at 132 Main street. assigned at 3:45 o'clock Wednesday afternoon to W. H. Campbell, its cashier. The decision to go out of business was reached but half an hour before the assignment was made. The bank was compelled to make good $50,000 worth of bad paper on Tuesday. When the bank sent its paper to the clearing house Wednesday afternoon the directors of the association on motion of Cashier Guthrie, of the National Lafayette bank, suspended payment on the paper and ordered an investigation of the bank's condition. This move proved fatal and precipitated the erash, which had been impending for some time past. The directors of the bank were hastily called together and the attorneys for the concern were ordered to draw up the deed of assignment, which was filed a few minutes later. President Foote says that the bank will be able to pay dollar for dollar. The bank is the oldest in the city and was organized in 1851. The bank has a paid-up capital stock of $328,000 and a surplus of $40,000. Its average deposits were $400,000. The Commercial bank was at one time the main bank for the steamboats and the Pendletons and Thomas Sherlock were heavily interested. The opinion on Third street is that the crash came about through a long series of bad management. The bank has been rediscounting its own paper for two weeks past, showing conclusively that it was bound to go up. CLARENCE, Mo., March 28.-The Clarence bank made an assignment Tuesday night for the benefit of its creditors, and its affairs are now in charge of W. D. Crow as trustee. The bank at one time was a very prosperous institution, but of late years it has been careless in loaning its money, and also allowed many of its customers to largely overdraw their accounts. The bank is a private one, owned by C. Hunold. For the past two years it has been the county depository, and has about $20,000 of Shelby county money. This money, however, is well secured and the county will lose nothing. It is thought the bank will be able to pay out dollar for dollar. OMAHA, Neb., March 28.-The state bank of Stanton has gone into voluntary liquidation and its affairs are in the hands of State Bank Examiner Cline. The liabilities are $9,400; capital, $52,000; cash on hand, $1,245. The bank's affairs are in a fair condition


Article from Morris Tribune, April 3, 1895

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The News Condensed. Important Intelligence From All Parts. DOMESTIC. THE president appointed Col. Thaddeus H. Stanton to be paymaster gen- Wileral of the army, to succeed Gen. liam Smith. retired. THE commission sitting in Washingin the claims of American citizens ton against the Venezuelan government decided in the former's favor. MINISTER THURSTON. of Hawaii, be- decided to depart from Washington fore his government could officially recall him. JOHN R. TUCKER, aged 51, an killed attorat Jeffersonville, Ind., was in ney an encounter with William Taylor, aged 70. MAGGIE TILLER, convicted of Chi- the murder of Freda Huntington in was sentenced to be hanged. This cago, was the first time that a the woman had been condemned to death in courts of Cook county. ANOTHER shortage of $400,000 the was found in Chicago in the accounts of whisky trust. THE seventeenth annual encampment of the G. A. R. department of Michigan commenced at Mount Clemens. Gov. ALTGELD issued a proclamation designating Friday, April 19, as Arbor day in Illinois. Two MEN were killed and three others badly injured by the explosion of a sawmill boiler near Van Wert. O. CLOSING arguments were made in the Debs case before the United States supreme court in Washington. An early decision was expected. FRANK SUTLER, an assayer, shot and fatally wounded his wife at San Francisco and killed himself. A FIRE in the Bell clothing store in Chicago caused a loss of $175,000. IT was said that a prominent citizen of Jacksonville, Fla., was under contract with sympathizers of the Cuban from patriots to engage 10,000 negroes Florida to go to Cuba to aid the patriots. GEN. S. B. DABOLL, of St. Johns, was elected department commander of the Michigan G. A. R. at the annual encampment in Mount Clemens. THE Commercial bank at Cincinnati, state institution long regarded as a financially solid, closed its doors with liabilities of $1,000,000. A SETTLEMENT of the Davis will contest was effected by the heirs of the Montana millionaire. A RESOLUTION fixing May 2 as the date for final adjournment was adopted by the Illinois senate. IT was stated in Chicago that the prices of all kinds of meats would be higher this summer than they have been for ten years past. TEN horses and twelve cows perished by the burning of Charles Jarrett's barn near Fort Dodge. Ia. FIRE at West Superior, Wis., destroyed J. P. Nelson's property and his wife and three children were probably fatally burned. THE home of Chris Christianson at Minot, N. D., was burned, and five of his nine children were cremated. THE State bank of Stanton, Neb., went into voluntary liquidation. JAMES KEELAN, a celebrated confederate spy, died in a hospital at Kansas City and was buried as a pauper. AT Jefferson, la., the thermometer registered 90 degrees in the shade on the 27th. THE mayor and board of trustees of Madison, Ill., were found guilty of malfeasance in office for permitting a gambling house to run. BURGLARS, in an attempt to find hidden money, cruelly tortured Mrs. Mary Berger, aged 86 years, at Springfield, Ill. FOUR counterfeiters, Jefferson May and John, James and Chauncey Boyer, were arrested at Rockford, Ill. THE Clarence bank at Clarence, Mo., suspended with liabilities of $80,000. ATTORNEY GENERAL OLNEY says that the printing of facsimiles of foreign postage stamps is a violation of the act of 1891, which prohibits the counterfeiting of foreign obligations or seTHE curities. Auburn state bank, located at the village of Auburn. Ill., was robbed of something over $1,000 by burglars. OFFICERS of the Queen & Crescent railroad intercepted train robbers at = Greenwood, Ky., and killed two of them. Miss AMY THILL, an actress, aged 24, was murdered in New York by John Bigelow, an actor, who then ended his Iife UMO MRS FRANK ANNIS perished in her


Article from Marshall County Independent, April 5, 1895

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WESTERN. Iowa was swept by dust storms. which partially obscured the sun and hindered railroad traffic. A rain is badly needed throughout Southern Arizona. The ranges are dry and in some places the cattle are suffering greatly. George A. Corwin, representing himself to be the head of a Chicago detective agency, is alleged to have deserted his wife and daughter at Toledo. The Michigan Central Railroad is preparing to remove the headquarters, roundhouses and shops of the Western division from Michigan City to Niles. The Third Regiment, Kansas National Guard, threatens to disband unless Kansas City business men subscribe sufficent funds for its maintenance by May 1. Chris Von der Ahe, the St. Louis baseball magnate. has been held to the Grand Jury for shooting a negro whom he suspected of stealing from the baseball park. Cora Smith, formerly a resident of Des Moines, but who has lived in Omaha since last September, was arrested there and taken to Des Moines Friday morning. She confessed to having assisted in murdering her father, Mike Smith, at Des Moines last May. S. L. Severance, of Cleveland, Ohio, representing the creditors. has purchased the plant of the Akron, Ohio, iron company at Sheriff's sale. The purchasers paid $200,200 for the property, $87,000 for the real estate. and $113 for the assets. The plant will be started with a full force soon. The direct inheritance tax levied by the last Ohio Legislature was on Friday declared unconstitutional by the Circuit Court, which held it was in the nature of an excess tax upon the right or privilege was not unitorm in its operation. The State will lose much revenue under this decision. Receiver W. H. Campbell of the Commercial Bank at Cincinnati, Ohio, was before the Insolvency Court to testify on deposits received Wednesday afternoon after the clearing-house had re fused to honor checks on the bank. Benjamin Dale for himself and clients deposited over $14,000 at 2 p. m. that day. He sued to recover it. Judge McNeill formally ordered the checks turned over to Mr. Dale. The fervor of Carl Browne as a municipal reformer has led him to attack many public-spirited Massillon (Ohio) citizens. As a consequence he is in extreme disfavor. The result was that Friday night, while making an unseemly attack upon a local firm, a shower of decayed eggs was directed at the "great commonwealer" and the meeting dispersed. Owing to a miscarriage of plans the target escaped and likewise the assailing party, but the excitement is hot and all sorts of things are likely to happen. The Commercial Bank, at Cincinnati, Ohio, the oldest institution of the kind in the city, assigned Wednesday afternoon, William H. Campbell, cashier, being named as assignee. The bank was compelled to make good $50,000 in bad paper and this precipitated the crash. There was a hurried meeting of the board of directors, the clearing house situation was discussed and assignment decided upon. The assets and liabilitiesareunknown, but on good authority are said to be $1,000.000 each. The paid-up capital was $318,000, the average deposits $700,000. The bank had been rediscounting its own paper for two weeks, and bad management is alleged. Prices of all Linds of meats will be higher in Chicago this summer than they have been for ten years past, says a dispatch. Even the high prices which were made by some dealers during the World's Fair period will be exceeded by the figures asked for roasts, steaks, and chops from now on. Prices have already advanced about 25 per cent., and an additional advance of about the same proportion is almost certain. The cause of this is the short supply of cattle followed by the necessary increase in value which forced dealers to raise prices to consumers." While the prime cause of the advance is the scarcity of choice beef cattle, all kinds of meats have gone up partly through the sentiments of the speculative market and partly on account of the increased demand. All kinds of beef, from porterhouse to hash meat, are being sold now for from 2 to 5 cents a pound higher than a month ago, and pork products of all qualities, from pigs' feet to head cheese, are worth considerably more than they could be bought for on the first of the month. Anton C. Hesing, president of the Illinois Staats-Zeitung Company and for more than thirty years a prominent and active figure in the public and political affairs of Chicago and the West, died of paralysis Sunday morning at his home, in his seventy-third year. There is no reason to doubt his death was partly due


Article from St. Paul Daily Globe, April 28, 1895

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Appraisement Filed. CINCINNATI, O., April 27.-The appraisement of the lately suspended Commercial bank has been filed, showing assets valued at $440,000. The liabilities are placed at $600,000. Notice has been given of a 10-per-cent dividend to depositors, payable May 11.