Omaha National Bank (Omaha, NE)

View Charter #1633 on SPMC View balance sheet

Episode Information

Episode UID
163301122
Episode Type
Run Only
Bank Type
national
Bank ID
16330 national
Charter Number
1633
Start Date
June 13, 1893
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a1dc9e7761e85c36

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Description

Articles describe citywide runs on Omaha savings banks but do not name this specific bank.

Events (2)
1. February 10, 1866 Chartered
Source
historical_nic
2. June 13, 1893 Run
Cause
Local Banks
Cause Details
Runs in Omaha were precipitated by the failure of the McCague Savings Bank and the downfall/weakness of the American National Bank linked to McCague interests
Measures
Saving banks' presidents resolved to require sixty days' notice for withdrawals; some banks compelled sixty days' notice
Newspaper Excerpt
There WAS a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday
Source
newspapers

Newspaper Articles (11)
1. June 12, 1872 The New York Herald New York, NY
Article from The New York Herald, June 12, 1872

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inact in officers in the rettre regard to the commencement the navy. of An act granting creased An pay to promoted a' pension to Mary Ann Montthe pubthrough comery. An act An act granting lands to the Jacksonville the right of and way St. Augustine receiver Raillic road Company relief of S. D. Houston, late the State of An act for public moneys the at Junction City, in Dakota of Kansas. to quit the title to certain lands in Territory An act relating to a site for public Cal. buildings at Harrisburg, An act Pa., and for Sacramento, building for the Revenue use of and the Federal An act Courts, provide Post Office, of Internal Little Rock, Ark. other civil offices in the the city act to authorize the sett r An act to continue of officers of the army and navy. of accounts A. Ward. ment An act for the relief of Robert Sarah B. Williamson. An act act for for the the rellef relief of of Edward G. Allen, of London, Mexand England. An An act to authorize the building for other of urposes. the New W. Parvis. ico An and act Gulf granting Railroad, a pension the Orange, to George exandria and An act to authorize Company to run trains District and transport Manassas freight Railroad and passengers within the at of Columbia. act to relieve John Milone, Postmaster Urichaville, An act for Ohio. the relief of Joseph A. Clay, of Philadelphia. An act to provide for filling vacancies in certain An act for the offices An in several relief Territories. of Charles Hipp, of St. Mary's, Auglaize county, Ohio. the construction of a building Office An act authorizing Pa., for the use of the Post at Philadelphia, courts in said city and United States of Frederick Pech. An act for the relief rellef of Moritz ugerstein. of An An act act for for the the relief of F. & E. Reed, Bath, for the act relief Maine. An act for the relief of of the the heirs State of of Eli Connecticut Moore. and other States. An act for the relief of D. c. Farrell, of Peoria, III. An An act for the relief of the Omaha National Bank. An act for the relief of Charles H. Thompson, of New Orleans, La. condemned cannon monumental and cannon purballs An act donating to certain organizations for of colposes. An act for the relief of Andrew James J. Jennison. Miller, late lector An act and for public the depositary relief of Michael at Wilmington. F. Gannett N.C. An act for the amend rellef section 5 of an act civil entitled and An act to appropriations for the for the 'An act making expenses of the construcdiplomatic year 1841, and to authorize the proper hou tion thereof act for the better security of bank exchanges. reserves and An facilitate bank cancellation clearing of bonds for manu- Upton, An act tobacco for the lost on steamer George W. York. the factured the cities of Richmond and ensation New to the district between An act granting additional of South comp Carolina for the An act District period marshal of of to four authorize months the and appointment ten days. Courts. of deputies of clerks of amend Circuit an and act entitled "An act supple- artiAn act to act to provide for furnishing June 30, mentary ficial limbs to to an disabled soldiers,' approved 1870. provide for the redemption the and several sale of lands An act held to by the United States under acts An levying act for direct the relief taxes. of James D. Willoughby, of Vineland N.J. the right of way through Railroad the public An act lands granting to the Pensacola and Louisville Company granting of Alabama. the right of way through Railway the public An lands act to the Denver and Rio Grande Company to declare the true intent and uniform meaning sys- of An act entitled An act to establish a States, tem an act of bankruptcy throughout the United approved An act March to amend 1867. an act relating to soldiers' and sailors' homesteads. pension to Margaret Nelson. Indian Missouri An An act act granting in relation to settlers on certain reservations for in the the State relief of of Albert D. Peirce, PostAn act at Sumnerville, Ottawa county, representatives Kansas. master the relief of the legal the of Iowa. of An the act late for George T. Wiggins, of Keokuk, in State the relief of Rufus M. Pickel. An An act act for to perfect certain land titles therein described. to reimburse United States marshals taking for moneys An act necessarily excess of expended the by compensation them in of lowed the ninth to them census, under in the law in force at the time the passage of the this relief act. of Mr. R. A Kennedy. An An act act for to create an additional land district in Florida. for the rellef of Thomas B. Stewart and Alexander An act McConn, of West Virginia. concerning the Circuit and District Courts of An act United States for the district of Kansas. the to amend an act entitled "An act to esStates. tablish An act uniform system of bankruptcy throughout the United granting a pension te Abigail Ryan. An An act act granting a pension pension to to Calvin Catherine A. Laws. Crowell. An An act act granting granting a a pension to John B. Rose, of Indiana. for the relief of Calista E. Cox. An An act act increasing the rates of pension to certain persons therein described. pension to Julia Bell Dunlap. the for expended An act An act granting to reimburse the United State of States Kentucky in enroll- for ping. paying ing, moneys subsisting and clothing, transporting supplying. militia arming, forces equip- to aid in suppressing the the relief rebellion. of Sarah S. Stafford, Anact An act for grant an American register to the British brig An Balear. act for the relief of the owner of the bark A One. fixing the salary of the United States Attorney An act and United States Marshal for the district of the Nebraska An act for the completion and publication of J. Charles Virmedical and surgical history of Faulkner, the rebellion. of West amendment ginia, An act from relieve the legal and political disabilities of the consti- imposed by the fourteenth tution of the to provide United States. for holding a Circuit Court of of the An United act States in and for the Western district cases. Missouri. An act amending the practice of the courts in patent An act for the reliefof H. G. Ankemy, late captain Fourth An act for Iowa the infantry. relief of Samuel Black and Albert R Cooper. to amend the fifth section of an act enAn act "An act making appropriations for the legislative titled and judicial expenses of the government for the year ending June 30, 1873," approved July 8, F. 1872. An act for the relief of the sureties of S. former Postmaster at New Orleans. of Marks, act authorizing the promotion of an officer r the An Inspector General's Department of the United States An act Army. to reimburse the State of Kansas for moneysexpended for the United States in enrolling, in equipping and provisioning military forces to aid 1 suppressing the rebellion. the claim of the heirs and legal representatives An act referring Colonel Francis Vigo, deceased, to An act to the Court provide of Claims for for the adjustment greater efflciency of the public schools in the several States and for other purposes. An act for the relief of W. A. Howard. An act authorizing the Secretary of War to exD. A. the on Fort well artesian Russell, pend certain money for the purpose of sinking ar military reservation in Wyoming Territo act for the settlement of the account of Major Abram An Beeler, late paymaster of United States Volunteers. act to amend an act entitled "An act to protect An national cemeteries, approved, February 22, 1867. An act authorizing the Secretary of War United to release twenty-four acres of the land of the States at Plattsburg, N. Y. the New York and Canada Railroad Company, and for other purposes. act making appropria tions for the preservation. Ac repair and completion of certain public works on rivers and harbors, and for other purposes. An act making appropriations for the construc-

2. June 13, 1893 Evening Star Washington, DC
Article from Evening Star, June 13, 1893

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OMAHA BANKS STAND A RUN. Closing of American National Caused by the McCague Failure. 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 became greatly 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 and other was a of all was out as soon as was no to it. institutions called Globe morning. for Loan and there and there Cash Trust steady Company paid apparent drain limit deposits 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 for the controller. this morning could not say much about the assets. A great deal of paper, thought not to be firstclass, figures in the resources of the bank. The falling off 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 givesixty days' notice of withdrawal. This action, together with the promptness with which the other banks met all demands. is believed to have stopped what almost promised to be a panic. Caused by the Plankinton Failure. LANSING, MICH., June 13.-Advices have been received from Bank Commissioner Sherwood from Crsytal Falls. Upper Michigan, that the State Bank of Crystal Falls has suspended payment. The bank WAS organized about a year ago with a capital of $25,000. It had deposits of $60,000. The cause of the failure is the suspension of the Plankinton Bank of Milwaukee. Taking Precautions at Detroit. DETROIT, June 13.-For some time there has been uneasy feeling in the banking atmosphere of this city occasioned by the numerous failures in savings institutions that have recently occurred throughout the country, especially in the west. Although until this morning there had not been a decided run on any of the savings banks of Detroit, considerable money has been withdrawn in a quiet way. and to forestall any movement that might result disastrously to them and as all act of self-preservation the officers of these institutions met last night and decided to require the notice allowed by law in case of unusual demands. This morning depositors were handed copies of the foregoing circular and told that their deposits would be paid in full at the end of the specified time-sixty days. This seemed to allay the excitement.

3. June 14, 1893 The Times Richmond, VA
Article from The Times, June 14, 1893

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BETTER FINANCIAL OUTLOOK. A General Feeling That the Worst is Over, Few Small Failures. WASHINGTON, June 13.-The financial condition of the country as viewed from a Treasury standpoint shows general improvement. Bank and commercial failures are fewer, Europe is buying our grain in greater quantities, gold shipments have ceased, at least for the present, confidence is being restored and money is not so tight. The Treasury net gold has increased from $89,000,000 to $91,300,000. and the demand for small money in the West will have the effect to further increase the Treasury gold. The rate of exchange is sufficiently high to warrant the shipment of gold abroad. but the fact that commercial paper is for sale in London has a deterrent effect. There is a general feeling that the worst is passed. the weaker financial institutions and business firms having suecumbed, while those that passed through so far unseathed are the stronger for having weathered the financial storm. More Bank Troubles, SALT LAKE. UTAH, June 13.-The Park City Bank suspended yesterday. The liabilities are $130,000; assets as much. A claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar. OMAHA, NEB. June 13.-The American National Bank is in the hands of the comptroller. J. L. McCague is president, and the supposed American National's connection with the McCague Savings Bank, which falled yesterday, caused its downfall. There are heavy runs on all the savings banks here this morning, WASHINGTON June 13.-The Comp= troller of the Currency has appointed Joseph W. Bennett receiver of the Oglethorpe National Bank of Brunswick, Ga.

4. June 14, 1893 The World Martinsburg, WV
Article from The World, June 14, 1893

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Omaha Banks in Trouble. OMAHA, Neb., June 13. The American national bank is in the hands of the controller. J. L. McCague is president, and it is supposed that the American national's connection with the McCague saving bank, which failed Monday, caused its downfall. There were heavy runs on all savings banks here Tuesday morning.

5. June 15, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, June 15, 1893

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Claims of $80,000. MOUNT VERNON, Ohio, June 14. -The Chicago Brownstone Company, engaged in extensive quarrying in Knox county, was placed in the hands of a receiver today. The claims against the concern amount to $80,000. A Run in New York. NEW YORK, June 14.-Up to 3 o'clock this afternoon, $50,000 was withdrawn by depositors from the Irving Savings Institute. The officials declare there is no cause for alarm, as the surplus exceeds the deficiency over $600,000. Couldn't Find Aid, TOLEDO, O., June 14.-The Exchange Banking Company of Weston, capitalized at $50,000, closed its doors today. The bank had a heavy run, and was unable to obtain assistance. Citizens' Bank Suspends. INDIANAPOLIS, Ind., June 14.-The Citizens' Bank of Fairmount, Ind., has suspended operations owing to the strihgency in the money market. The capital stock is $50,000. Trouble Over at Omaha. OMAHA, Neb., June 14.-Runs on the Omaha savings banks subsided this morning, almost as quickly as they began yesterday. There were a few depositors at the Ohama Savings bank demanding their money but it became apparent that the rush was over and the anxious ones left without*taking their cash. Hard Up But Solvent, NEW YORK, June 14.-It is stated the Chicago dry goods house of James H. Walker & Co., has been forced by the stringency in the money market to secure an extension from its creditors on bills aggregating $600,000. The concern is declared perfectly solvent.

6. June 15, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, June 15, 1893

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# A SILLY SCARE ENDED. OMAHA, June 14.--The runs on the Omaha savings banks subsided this morning almost as quickly as they began yesterday. A few depositors appeared early, but as soon as it became apparent the rush was over the anxious ones left without taking their money.

7. June 15, 1893 The Herald Los Angeles, CA
Article from The Herald, June 15, 1893

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EASTERN BANK TROUBLES. A Run on the Irving Savings Institution of New York. NEW YORK, June 14.-A run was started on the Irving Savings institution this morning as soon as the doors were opened. Twenty minutes after the bank had opened the paying teller had paid out $7500. A speculator was on hand offering to buy up all the books he could get for 10 per cent commission. Treasurer Latimer said the bank had on hand $1,000,000 and could get as much more at a moment's notice if necessary. This is the bank in which Superintendent Preston found 8 deficiency of $70,000 genterday. This afternoon Superintendent of State Banks Preston made the following statement: "The directors of the institution were averse to making the condition of affairs public, fearing a run would hurt the bank's standing, but I advised them to take the public into consideration. The run will probably be over by tomorrow, when the solvency of the bank becomes generally known. The shortage may be larger than already announced, as the channels through which the money disappeared are not all discovered. There may be other dishoneet officials than the three mentioned last night." No arrests have been made. BANK SUSPENSIONS IN OHIO. PAINESVILLE, O., June 14.-A run which began on the Lake county bank of Taron, Wilcox & Co. yesterday culminated in its doors being closed this morning. A notice was posted stating the bank had suspended temporarily, and that all depositors would be paid in full. The general impression is the bank will be able to resume. The personal estates of the stockholders are liable for the bank's indebtedness, in all amounting to several hundred thousand dollars. It was considered a sound institution. TOLEDO, O., June 14.-The Exchange Banking company of Weston, O., a concern capitalized at $50,000, closed its doore this morning. AN INDIANA BANK FAILURE. INDIANAPOLIS, June 14.-The Citizens' bank of Fairmount, Ind., has sugpended operations, owing to the stringency of the money market. Capital stock, $50,000; assets, $191,000; liabilities, $130,000 to $150,000. THE HUDSON SAVINGS BANK. HUDSON, Wis., June 14.-The statement of the committee on the affairs of the Hudson Savings bank will show that the assets, according to the bank statement, are $736,127; assets, according to the committee's appraisement, $596,296 liabilities. $644,493. With careful handling by the assignee the loss will be comparatively small. OMAHA BANK RUNS SUBSIDED. OMAHA, June 14.-The runs on the Omaha savings banks subsided this morning almost as quickly as they began yesterday. A few depositors appeared early, but as soon as it became apparent that the rush was over the anxious ones left without taking their money. There are no new developments regarding the suspended banks. A KANSAS BANK WEECKRR. TOPEKA, Kan., June 14.-State Bank Commissioner Breidenthal, who made an examination of the affairs of the bank of Burr Oak, which failed Saturday, declares Manager Hurlbut conducted the 1 affairs in such a manner as to send him to e the penitentiary. Hurlbut disappeared after the failure and cannot be found. c The bank's deposits amount to $45,000. a Its assets are worthless. 8

8. June 15, 1893 Fairhaven Herald Fairhaven, Bellingham, WA
Article from Fairhaven Herald, June 15, 1893

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Bank Run Over OMAHA, June 14-The runs on the Omaha savings banks subsided this morning almost as quickly as they began yesterday. A few depositors appeared early, but as soon as it became apparent that the rush was over the anxious ones left without taking their money. There are no new developments regarding the suspended bank.

9. June 15, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 15, 1893

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sand dollars. It was considered a sound institution. INDIANAPOLIS, June 14.-The Citizens' Bank of Fairmount, Ind., has suspended operations owing to the stringency in the money market. The capital stock is $50,000, assets $191,000, liabilities $130,000 to $150,000. HUDSON, Wis., June 14.-A statement of the committee on the affairs of the Hudson Savings Bank will show the asssets, according to the bank statement, are $736,127; the assets, according to the committee's appraisement, are $596,276 and liabilities $844,493. With careful handling by the assignee the loss will be comparatively small. CLEVELAND, Ohio. June 14. - The Baackes Wire Nail Company, one of the largest concerns of the kind in the country. has assigned. The inability to raise money to meet maturing paper is the sole cause of failure. The liabilities are only $225,000, while the assets will reach $900,000. The company is one of the largest manufacturers of wire nails in the United States and is backed by capitalists of Cleveland worth millions of dollars. Baackes, the vice-president and founder of the concern, is one of the pioneers of the wire-nail business in the country. President Lock wood of the concern said: "We simply got under cover to keep our creditors from slaughtering us with attachments. We can pay $3 for every $1 we owe. The assignment is not because of insolvency. On ordinary occasions we would have paid with 2 per cent off, but the tightness of the money market caught us. The principal creditor is Nailor & Co. of New York and Philadelphia, from whom we have bought millions of dollars, worth of steel and always paid them up. They refused to grant us an extension and insisted on the individual security of the stockholders." The Baackes Company has a capital of $543,000. OMAHA, June 14. - The runs on the Omaba savings banks subsided this morning almost as quickly as they began yesterday. A few depositors appeared early, but as soon as it became apparent the rush was over the anxious ones left without drawing their monew. There are no new developments regarding the suspended banks. TOLEDO, Ohio, June 14.-The Exchange Banking Company of Weston County, a concern capitalized at $50,000, closed its doors this morning. TORONTO, June 14.-J. F. McLaughlin, an extensive commission merchant, has assigned. The assets exceed the liabilities.

10. June 15, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 15, 1893

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FINANCIAL CRIPPLES. An Indiana Bank Suspends-Run on a Gotham Bank. INDI ANAPOLIS. June 14.-The Citi zens' bank, of Fairmount, Ind., has suspended operations owing to stringency in money markets. Capital stock, $50.000: assets, $101,000; liabilities, from $130.000 to $150,000. NEW YORK. June 14.-A run was started on the Irvings Savings Institution this morning as soon as the doors of the place at No. 96 Warren street were opened. Treasurer M. B. Latimer said the bank had on hand a million dollars and could get that much more if necessary, at a moment's notice. This is the bank in which Superintendent of Banks Preston, of the state of New York, discovered a deficiency of $70,800. Up to 2 o'clock $50.000 had been withdrawn by deposits from the institution. The paying teller was paying the depositors slowly. At 2 o'clock there were about a hundred depositors in line. The officials declare there is no cause for alarm, as the surplus exceeds the deficiency by over $600,000. PAINE. = LLE. O., June 14. - This morning the Lake county bank of Aaron, Wilcox & Co. posted a notice on its doors as follows: This bank has suspended temporarily, being unable to meet the run on it at present, owing to the stringency in the money market. All depositors will be paid in full." The personal estate of the stockholders is liable for the indebtedness, in all amounting to several hundred thousand dollars. The bank is believed to be solvent. It was organized twenty years ago, and has always been considered a sound institution. TOPEKA, Kan., June14.-State Bank Commissioner Briedenthal, who has recently made an examination into the affairs of the Bank of Burr Oak. which failed last Saturday, declares the man ager, Hurlbert, of the bank conducted its affairs in such a manner as to send him to the penitentiary. Hurlbert disappeared the day after the failure, leaving a wife and two children bebind, and cannot be found. Commissioner Breidenthal says Hurlbert has made false statements to the bank commissioner. The bank's deposits amount to $45,000. and, although the assets on their face show a value of $54,000, they are nearly worthless. and will net the depositors nearly 20 cents on the dollar. OMAHA, Neb., Jane 14.-The runs on the Omaha savings banks subsided this morning almost as quickly as they started yesterday. Early there were a few depositors at the Omaha Savings demanding their money, but as soon as it became apparent that the rush was over the anxious ones left without taking their cash. RIVERSIDE, Cal., June 14,-The doors of the Riverside Banking company failed to open at the usual hour today. The following sign was displayed on the door: "This bank is closed under instructions. Depositors will be paid." MOUNT VERNON, O., June 14. -The Chicago Brown Stone company. engaged in extensive quarrying in Knox county, has been placed in the hands of a receiver. Claims against the concern amount to $30,000. CLEVELAND, June 14.-The Baackes Wire Nail company has made an assignment. The inability to raise money to meet maturing paper was the sole cause of the failure. Liabilities of the company are only $225,000, and the assets reach $900,000. WESTON, June 14. - The Exchaneg Banking company. of this place, closed its doors this morning. The bank has had a run and was unable to get help, and the airectors decided it to the best interests to close. The directors have notified depositers that they will probably receive dollar for dollar.

11. August 2, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 2, 1893

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TELEGRAPHIC BREVITIES. The cruiser New York was put in commission yesterday. The Seven Corners, Minnesota State bank, with a capital of $100,000, has failed. William Hunt has been appointed postmaster at Clearmont, Wyo., vice Stone, resigned. The Wyandotte County bank at Upper Sandusky, 0., has suspended. Assets, $100,000; liabilities, $75,000. A receiver has been appointed for the Philadelphia Packing and Provision company. No statement, but the failure is a large one. A receiver has been appointed for the Demme & Dierkes Furniture company of Chicago, with assets of $400,000 and liabilities of $120,000. The officers and directors of all the savings banks at Cleveland, 0., have decided to require of depositors notice before withdrawal of funds. At a meeting of the presidents of the Omaha savings banks this morning, they resolved to require sixty days' notice for the withdrawal of deposits. An order has been issued at the war department detaching Captain Carpenter and troops under his command from further duty at Puyallup Indian reservation. Patents were issued yesterday to John M. Browning, of Ogden, for a breechloading gun; to Lyman E. Baldwin, of Lander, Wyo., for a stovepipe attachment. The Safe Depositor & Trust company of Denver assigned last evening. Assets $400,000, liabilities $100,000. Eastern creditors caused the assignment by pushing the concern. At Utica, o., Monday night, John Cattle, two men named Bell, two others named Bowers and Skillen, were killed and Joseph Ship fatally injured by the explosion of a threshing machine.