16803. Cataract Bank (Niagara Falls, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 23, 1893
Location: Niagara Falls, New York (43.094, -79.057)

Metadata

Model: gpt-5-mini
Short Digest: 72621854

Response Measures

None

Description

The Cataract Bank closed its doors unexpectedly on June 23, 1893 without a preceding run; state banking officials (Deputy State Superintendent William Creed) took possession and a receiver (Peter A. Porter reported as receiver later) was appointed July 5, 1893. The suspension is attributed to overly liberal loans under prior management and inability to obtain out-of-town rediscounting (bank-specific adverse information).

Events (2)

1. June 23, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Too-liberal loans under former management and inability to rediscount securities or obtain expected outside aid during the money stringency; legal reserve impaired leading department to take possession.
Newspaper Excerpt: The Cataract Bank of Niagara Falls... closed its doors at noon yesterday. The suspension was totally unexpected and was not preceded by a run on the bank.
Source: newspapers

2. July 5, 1893 Receivership

Newspaper Excerpt: In a Receiver's Hands. NIAGARA FALLS, N. Y., July 5. Peter A. Porter has been appointed receiver for the Cataract bank. The bank's liabilities are $1,026,805. The assets are $754,936.
Source: newspapers

Newspaper Articles (21)

1. June 24, 1893 Evening Star Washington, DC

Article from Evening Star, June 24, 1893

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Niagara Falls Bank Suspends. The Cataract Bank of Niagara Falls, the largest bank in Niagara county, N. Y., closed its doors at noon yesterday. There is great excitement among business men in consequence, as over $200,000 of their money was on deposit there. The suspension was totally unexpected and was not preceded by a run on the bank. Cashier DeLancey Rankin says that the assets will be far in excess of the liabilities. Peter A. Porter is president of the bank and the Porter family are large stockholders. Other wealthy people are also interested in the institution. President Porter is confident the bank will resume and he does not think a receiver will be necessary.

2. June 24, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 24, 1893

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Other Bank Suspensions. WASHINGTON, NJune 23.-Controller Eckels has been officially informed of the fallure, yesterday, of the following national banks: The First National Bank of Kendallville, Ind.; the First National Bank of Santa Ana. Cal.; the First National Bank of Whatcom, Wash. He has ordered Bank Examiner Cleary to take charge of the Whatcomb Bank, and Bank Examiner Packard to take charge of the Kendallville bank temporarily. He has appointed Robert Wingate receiver of the Merchants' National Bank of Tacoma, Wash. NIAGARA FALLS, N. Y., June 23.-The Cataract Bank, of this city. the largest bank in Niagara county. closed its doors at noon. Its deposits amount to over $700,000. Cashier Rankin says the assets are far in excess of liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted atother banks they were refused. President Porter is confident-that the bank will resume. He does not think a receiver will be necessary. NEW WHATCOM. Wash., June 23.-The First National Bank has closed its doors. The cashier states that depositors will be paid in full.

3. June 24, 1893 The Times Richmond, VA

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THE PACIFIC BANK SUSPENDS. The Board of Directors Decided Not to Reopen the Doors. SAN FRANCISCO, June 23.-The board of directors of the Pacific Bank decided not to reopen the doors this morning. The direct cause of the suspension was a notice from the Clearing House Association that the bank's paper would not be accepted hereafter. It has been known for some time that the bank was laboring under financial difficulties, and the announcement of the action of the board does not create great surprise. It has a paid-up stock of $1,000,000, the nominal reserve about $700,000, deposits about $1,500,000, according to recent official report. Its loans and discounts are said to be about $2,500,000. The failure seems to be altogether due to the recent monetary troubles. It is expected that the depositors will lose nothing. The suspension of the Pacific Bank resulted in the closing down this morning of the People's Home Savings Bank, a collateral institution under practically the same management as the Pacific Bank. The People's Bank had a guaranteed capital stock of $1,000,000, of which one-third was paid in cash. According to a recent statement of the People's Bank, It has total deposits of $1,700,000. Other Bank Failures. NIAGARA FALLS, N. Y., June 23.The Cataract Bank, of this city, the

4. June 24, 1893 Wheeling Register Wheeling, WV

Article from Wheeling Register, June 24, 1893

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CONCERNING BUSINESS AND FINANCE. SAN FRANCISCO, CAL., June 23.-The People's Savings Bank failed to open doors this morning. On the door was the following notice: "Bank closed temporarily in order to protect depositors and give time to collect on securities. We have sufficient assetsmore than our liabilities." NIAGARA FALLS, N. Y., June 23.-The Cataract Bank, this city, the largest bank in Niagara county, closed its doors at noon. There is great excitement among business men in consequence, as over $700,000 of their money was on deposit there. The suspension was totally unexpected and not preceded by a run on the bank. The bank officers confidently expected to receive help from out of town exchanges, but money did not come. Cashier Rankin says that the assets will be far in exces of the liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted at other banks they were refused. President Porter is confident the bank will resume, and he does not think a receiver will be necessary. The Cataract Bank has been placed in possession of Deputy State Superintendent of Banking Wm. Creed. The officers state positively that all classes of depositors will be paid in full. The capital stock of the bank is $300,000: nominal surplus, $50,000; deposits on May 31, $809,272. KEARNEY, NEB., June 23.-The Kearney Paper Mill Company assigned this morning. CHICAGO, June 23.-Leroy Paine's big livery establishment on Michigan avenue went into the hands of a receiver to-day. The place was foreclosed upon by the Exchange National Bank with a $35,000 mortgage, CHICAGO, June 23.-Friedman & Friedman, wholesale clothiers, failed to-day. Liabilities, $92,000; assets about same. LONDON, June 30.-It is rumored that the Hersechel commission proposes to close the Indian mints, but only conditionally on the repeal of the Sherman,act. SAN FRANCISCO, June 23.-The Peoples' Home Savings Bank closed its doors this morning. It affiliated with the Pacific Bank, which closed yesterday. The resources are said to far exceed the liabilities. MONTREAL, June 23.-At the annual meeting of the Merchant's Bank of Canada, General Manager Hague in his address warned business men against gambling, and said that the table of Monte Carlo and the Chicago wheat pit are in principle the same, John Crawford, one of the directors, in alluding to the same subject said that no less than $2,000,000 had been lost by Montrealers during the recent financial disaster in New York. SAN FRANCISCO, June -The Board of Directors of the Pacific Bank decided not to open its doors this morning. The direct cause of the suspension is a notice from the Clearing House Association that the bank's paper would not be accepted. It has a paid up capital stock of a million dollars, a nominal reserve of about seven hundred thousand and deposits of about a million and a balf, according to a recent report. Its loans and discounts are said to be about twoand ahalf million. The failure seems to be altogether due to recent money troubles, and it is expected the depositors will lose nothing.

5. June 24, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 24, 1893

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FAILURE OF A NIAGARA COUNTY BANK THE CATARACT, OF NIAGARA FALLS, CLOSES ITS DOORS SOMEWHAT SUDDENLY-TOO LIBERAL LOANS. Niagara Falls, N. Y., June 23.-The Cataract Bank of this city, the largest bank in Niagara County, closed its doors at noon. There is great excitement among business men in consequence, as over $700,000 of their money was on deposit there. The suspension was totally unexpected and was not preceded by a run on the bank. The bank officers confidently expected to receive help from out of town this morning, but the money did not come, and they had to close their doors. Cashier De Lancey Rankin says that the assets will be far in excess of the liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted at other banks they were refused. Peter A. Porter is president of the bank, and the Porter family are large stockholders. Other wealthy people are also interested in the institution. President Porter is confident the bank will resume, and he does not think a receiver will be necessary. The Cataract Bank has been placed In possession of Deputy State Superintendent of Banking William Creed, who is now making a thorough investigation of its condition. The officers state positively that all classes of depositors will be paid in full. The capital stock of the bank is $300,000; nominal surplus, $50,000; deposits on. May 31, $809,272.87 The board of directors are Peter A. Porter, W. B. Rankin, Franklin A. Spaulding, L. W. Pettebone, A. J. Porter, Thomas V. Welch and W. C. Ely, all of this city. Mr. Creed says it will be several days before he will be able to give out a detailed statement. President Porter told a reporter this afternoon that when the present management took hold they were fully cognizant of the state of the bank's finances. The directors were numbered among the most able. careful and trusted men of Nlagara Falls. They realized that the bank had upon Its hands nearly $400,000 of loans with collateral, security that was not such as could be realized on at once. They put their shoulders to the wheel, however, and did everything in their power to avert disaster. Had It not been for the present financial stringency they would 1 doubtless have been successful, and, though they had finally been forced to take the step of to-day, they were confident that in time every depositor would be paid dollar for dollar, and if satisfactory arrangements t could be made business would doubtless be resumed. I The failure, President Porter said, was not due to any unstable condition of business in Niagara Falls, 1 but was simply because of the heavy loans made under . the former management. It was learned from other sources that one loan to 1 the now defunct Niagara Wood Paper Company was t for $180,000, while several individual loans were of t $100,000 each. ) The other banks at Niagara Falls naturally looked for a run when the announcement came, and prepared , for it. The Bank of Niagara, which is heavily backed

6. June 24, 1893 New-York Tribune New York, NY

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by Buffalo capitalists, kept open until 6 o'clock to. night in order to meet a run, but no run occurred. Albany, June 23.-By order of Charles M. Preston, Superintendent of Banks, William F. Creed, the Deputy SuperIntendent, this morning took possession of the Cataract Bank, of Niagara Falls. Superintendent Preston says: "This bank. in point of capital, is the largest bank in the city of Nlagara Falls, and Its embarrassment has been brought about by too liberal loans to a few individuals by a former management. About a year ago the Banking Department. by an Investigation, ascertained that the bank was loaning too largely to a few persons and companies, and immediately stopped the accommodations and compelled a change of management, whereby tae president and cashier resigned and new officers were elected in their places. The bank materially improved under the management of the new officers, the loans spoken of were reduced and collateral security taken in all cases where there was doubt about the sufficiency of the parties Indebted, and the bank was in every way strengthened, so far 'as it was possible to do 11. But owing to the fact that It had to take in a large amount of real estate, and by reason of the recent money stringency the deposits were materially drawn down. It appearing by the last report called for by this department that their legal reserve was impaired. the department has since that time been paying special attention to this Institution. and it was hoped that certain capitalists in the city of New-York, who are Interested more or less in the bank, might advance the amount of money necessary for it to continue. This not being forthcoming and the withdrawals upon the bank increasing. it was thought best that the department take possession in order that the interests of all parties might be equitably preserved. "It is not as yet determined whether the bank will be reorganized or be put in liquidation. This fact will be determined within a short time. and as soon as the examination, which is now in progress, Is concluded, a complete statement of Its condition will be given to the public."

7. June 24, 1893 The Sun New York, NY

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in the city. six in number. remained open until a late hour to- day to meet any demands. but there was little call for money. ALBANY. June 23.-Superintendent of Banks Charles M. Preston says that the Cataract Bank. in point of capital. is the largest bank in the city of Niagara Falls. and its embarrassment has been brought about by too liberal loans to a few individuals by a former management. About a year ago the Banking Department, by an investigation. ascertained that the bank was loaning too largely to a few persons and companies and immediately stopped the accommodations and compelled R change of management whereby the President and cashier resigned and new officers were elected in their places. The bank materially improved under the management of the new officers. the loans spoken of were reduced. and collateral security taken in all cases where there was doubt about the su Mciency of the parties indebted. and the bank WAR in every way strengthened, so far as it was possible to do it. But owing to the fact that it had to take in a large amount of real estate, and by reason of the recent money stringency. the deposits were materially drawn down. It appearing by the last roport called for by the department that their legal reserve was impaired. the department has since that time been paying special attention to this institution and it was hoped that certain capitalists in the city of New York. who are interested more or less in the bank. might Advance the amount of money necessary for it to continue. This not being forthcoming. and the withdrawals upon the bank Increasing. it was thought best that the department take possession in order that the interests of all parties might be equitably preserved.

8. June 24, 1893 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 24, 1893

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MORE FAILURES. Three Western Banks Closed Their Doors Yesterday. SAN FRANCISCO, Cal., June 23.-The board of directors of the Pacific Bank decided not to reopen the doors this morning. The direct cause of the suspension was a notice from the Clearinghouse Association that the bank's paper would not be accepted hereafter. It has been known for some time that the bank was laboring under financial difficulties and the announcement of the action of the board does not create great surprise. It has a paid up capital stock of $1,000,000 and a nominal reserve of about $700,000, with deposits of about $1,500, 000, according to the recent official report. Its loans and discounts are said to be about $2,500,000. The failure seems to be altogether due to the recent monetary troubles. It is expected that the depositors will lose nothing. The suspension of the Pacific Bank resulted in the closing down this morning of the People's Home Savings Bank, a collateral institution under practically the same management as the Pacific Bank. The People's Bank was guaranteed a capital stock of $1,000,000, of which one-third is paid in cash. According to a recent statement of the People's Bank it has total deposits of $1,700,000. MINNEAPOLIS, Minn., June 23.-The State Bank, of this city, suspended payment this morning, assurance being given to depositors that it would resume in a few days. The bank has a paid up capital of $75,000. The steady withdrawals by depositors was the cause of the action. The bank is one of the smaller ones of the city. SEATTLE, Wash., June 23. -The First National Bank, of New Whaleom, Wash., closed its doors yesterday. NORFOLK, Va., June 23.-Isaac Legum, a dealer in clothing and shoes, of this city, made an assignment to-day. His liabilities amount to $11,000. NIAGARA FALLS, N. Y., June 23.-The Cataract Bank of this city, the largest bank in Niagara county, closed its doors at noon. There is great excitement among business men in consequence, as over $700,000 of their money was on deposit there. The suspension was totally unexpected and was not preceded by a run on the bank. Cashier Delaney says that the assets will be far in excess of the liabilities. Hon. Peter A. Porler is president of the bank and the Porter family are the largest stockholders Other wealthy people are also interested in the institution.

9. June 25, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 25, 1893

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ALL FEEL BETTER. New York Bankers Rather Jubilant. THE WORST IS OVER NOW. Money for San Francisco That It Is Not Probable Will Be Needed. Special to THE MORNING CALL NEW York, June 24.-The situation in banking circles to-day is less apprehensive than has been felt in some time. Without concealing their anxiety as to the possible strain of the next two weeks, bank officials congratulated one another that there had been a subsidence of the acute distress which has been manifested at different cities for so long, and there was gratification at the apparent return to a more reasonable feeling in the community where a currency panic was threatened. The failure of the Cataract Bank at Niagara Falls was a reminder that the existing distrust was not moving in one direction, like the cholera epidemic, but still prevailed in different parts of the country, and was likely to break out again in localities where excitement had previously risen higher and then subsided. But the tone of the country as a whole and the better conditions at the West were reflected in a continuance of the repayment of loans made in the recent severe crisis. No further alarming developments were reported from San Francisco and there is a growing belief that the worst of the trouble in California is over. The improvement in that State, however, has not been su fficient to step entirely the calls on New York for funds. At the sub-treasury to-day $340,000 in gold certificates was turned in to secure telegraphie transfers at San Francisco and one bank shipped $300,000 direct. The total outflow of currency to California for the day may have reached $700,000 and shipments to other interior points were nominal. The sub-treasury paid out-$134,612 for Government interest due on July 1, making a total of $196,567, including payments made on Friday. The weekly bank statement is as follows: Reserve, decrease, $3,295,000; loans, decrease, $4,714,000; deposits, decrease, $8,472,000. The banks now hold $5,482,000 in excess of the requirements. WASHINGTON, June 24.-The gold balance in the United States treasury to-day IS $94,261,438. BOSTON, June 24.-The Clearing-house committee has decided to call a meeting of the banks Monday, when they will recommend the issuing of Clearing-house certificates to lease the July 1 settlement.

10. June 28, 1893 The Star Reynoldsville, PA

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LATER NEWS WAIFS. FINANCIAL AND COMMERCIAL Comptroller Eckels has been officially in formed of the failure of the following National banks: The first National Bank of Kendallville, Ind.; the First National Bank of Santa Anna. Cal.; and the First National Bank of Whatcom, Wash. He has ordered Bank Examiner Packard to take charge of of the Kendal'sville bank. At San Francisco the Pacific bank has closed. The Peoples Home Saving bank, under the same management, has also,gone down. At Greenville, Mich., the City National bank has suspended. The Cataract bank, Niagara Falls, N. Y.. the largest bank in Niagara county, closed its doors. The New York clearing-house committee authorized the taking out onFriday of $450,000 in clearing-house certificates. The total now outstanding is $5,350,000. The East Side bank, Los Angeles, Cal., opened its doors again on Saturday morning. This is the first of closed banks to resume. A feeling of confidence has returned. The other banks will open in a day or two except the City bank, which is in the hands of a receiver.

11. June 29, 1893 Barton County Democrat Great Bend, KS

Article from Barton County Democrat, June 29, 1893

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IT is settled that the army court of inquiry, appointed to ascertain Col. Ainsworth's official responsibility for the accident at Ford's theater, will not assemble until the grand jury shall have concluded its investigation of that affair. IT is said that the Herschell commission intends to close the Indian mints but only conditionally on the repeal of the Sherman act by the United States. THE Cataract bank, of Niagara Falls, N. Y., has suspended. Deposits amount ed to $700,000. JUDGE HANFORD, of the United States circuit court, has decided that the anticigarette law of the state of Washington is unconstitutional. MEMBERS of the Minneapolis, Minn., fire department are accused of wholesale purloining at fires. THE Camperdown and Victoria, two British ironclads, came into collision off the isle of Cyprus in the MediterThe ranean during the maneuvers. result was that the Victoria was sunk with about 400 officers and men. Among the lost was Vice-Adm. Tryon. A LONE robber boarded a Rock Island express near Virginia, Neb. He bound and gagged the messenger and secured $350. SECRETARY LAMONT has dissolved the military court of inquiry into the Ford theater disaster and will leave investigation to the civil authorities. CLEARING house returns for the week ended June 22 showed an average decrease of 6.6 compared with the correspoding week of last year. In New York the decrease was 4.0. ONE man was killed and two badly burned by a fire at Murray & Nichols Spice Co.'s plant, West Polk street, Chicago. THE Columbia and the First National banks, of New Whatcom, Wash., have closed their doors. SECRETARY MORTON has decided to abolish the experiment farm, which was established by ex-Secretary Rusk at Garden City, Kan. THE coast defense ship Monterey has been finally accepted, and the navy department will assume control of her immediately, paying over to the contractors all of the fund that has been held up as a guarantee of the completion of the vessel. THE Reading reorganization plan has failed. THE Great Northern has issued a new mileage book, good to Pacific coast points, at 21/2 cents a mile. THE Kansas railroad commissioners are going to compel a wholesale reform in freight charges on the part of the roads in that state. THE drought in Europe is causing widespread distress. DISBARMENT proceedings have formally begun against ex-Patent Commissioner Simonds. EIGHTY-SEVEN special pension examiners were reappointed by the secretary of the interior. CHARLES T. PECK, ex-labor commissioner of New York, and indicted for burning state documents, failed to appear for trial at Albany. He was reported to have fled to Europe. FRIEDMAN & FRIEDMAN, wholesale clothing dealers in Chicago, failed. Liabilities, $92,000; assets about the same. DR. R. P. GORDON, of Hebron, Ky., who was jolted out of a cable car in Chicago, while asleep, died of his injuries. LEROY PAYNE'S big livery stable at Chicago went into the hands of a receiver. The place was foreclosed upon by the Exchange national bank with a $35,000 mortgage. NEW YORK bankers all agree that the financial situation is rapidly improving and that the outlook now is all right. FOREST fires are raging in Colorado with unprecedented fury and have already destroyed a great deal of valuable property. STARR & CUNNINGHAM, Cherokee commissioners to sell their bonds, were in Chicago waiting for the arrival of a New York bidder. THE directors of the world's fair have completed the arrangements for having religious services at the fair every Sunday. AT the world's fair congress of bankers, a number of speeches were made on the silver question by the advocates and opponents of free silver.

12. June 30, 1893 The Iola Register Iola, KS

Article from The Iola Register, June 30, 1893

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THE EAST. A NEW YORK specialist is authority for saying that President Cleveland is to again take the Sweninger cure for obesity. THE Suburban handicap at Coney Island furnished a great surprise, Lowlander winning at long odds in the betting. CORNELL defeated Columbia in the freshman's boat race at New London, Conn., by ten lengths. A SERIOUS explosion occurred at Ridgewood, N. J., when the boiler of the Ridgewood stone crusher works exploded and completely wrecked the engine house. Supt. John Bogert was instantly killed. A TRAIN on the Long Island railroad was wrecked near Parkville, L. I. Nine persons were killed and about 100 injured. THE Lizzie Borden case was given to the jury on the 20th and in a little more than an hour a verdict of acquittal was returned. HENRY SHELDON & Co., tea and coffee merchants, New York, have failed. REV. DR. SAMUEL HART, professor of Trinity college, was elected bishop of the Episcopal church of Vermont. SWITCHMAN McGEARY has been held by a Gravesend justice for the killing of the nine people by the wrecking of the Sheepshead Bay race train. A FIFTEEN million dollar ocean steamship combination has been formed at Jersey City. THE Duryea Portland Cement Co.'s plant near Montezuma, Cayuga county, N. Y., was destroyed by fire. Loss, $125,000; insurance, $25,000. CHARLES T. PECK, ex-labor commissioner of New York, and indicted for burning state documents, failed to appear for trial at Albany. He was reported to have fled to Europe. WILLIAM MUTCHLER. democratic congressman from the Eighth district of Pennsylvania, is dead. THE Cataract bank, of Niagara Falls, N. Y., has suspended. Deposits amounted to $700,000. THE Reading reorganization plan has failed. NEW YORK bankers all agree that the financial situation is rapidly improving and that the outlook now is all right.

13. June 30, 1893 Idaho County Free Press Grangeville, ID

Article from Idaho County Free Press, June 30, 1893

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VARIOUS FINANCIAL MATTERS -Like a Row of Bricks, the Banks Continue to Go Down. MORE MONEY FOR CALIFORNIA BANKS Monetary Troubles at Minneapolis, Niagara Falls, San Francisco, Whatcom and Chicago-Rumor from London. At Niagara Falls. NIAGARA FALLS, N. Y., June 23.-The Cataract bank, the largest in the city, has failed unexpectedly, owing to inability to get expected aid. It has $70,000 deposits. It is believed that the bank will not be able to resume. One at San Francisco. SAN FRANCISCO, June 23.-The Peo ple's Home savings bank closed its doors this morning. It affiliated with the Pacific bank, which closed yesterday. Its resources are said to far exceed its I liabilities. At San Bernardino, Oal. SAN BERNARDINO, Cal., June 23.-The First national bank of San Bernardino, which has withstood a run lasting for the last five days, was today compelled to close its doors temporarily. More Money for California Banks. NEW YORK, June 23.-Currency ship@ ments to San Francisco will be very g large again today. Telegraphic transfers at the sub-treasury will certainly reach yesterday's figures. At Madera, Cal. MADERA, Cal., June 23.-The Bank of Madera failed to open its doors this morning. This notice was on the door: "Temporarily suspended. Depositors will be paid in full." At Minneapolis. MINNEAPOLIS, June 23.-The state bank of Minneapolis, having a capital of $100,000 and a surplus of $60,000, closed its doors this morning. Average deposits, $480,000. Rumor From London. LONDON, June 23.-It is rumored that the Hirschell committee proposes to close the Indian mints, conditioned on a repeal of the Sherman act. At Whatcom, Wash. WASHINGTON, June 23.-Comptroller Eckels has ordered Bank Examiner Cleary to take charge of the Whatcom, Wash., bank. A Chicago Clothing House. CHICAGO, June 23. -Friedmann - & Friedmann, wholesale clothing, have failed. Assets and liabilities $92,000 each. Dave Hill for Free Coluage. I NEW YORK, June 23.-Senator David B. Hill has come out in favor of free bimetallic coinage.

14. June 30, 1893 Griggs Courier Cooperstown, ND

Article from Griggs Courier, June 30, 1893

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controversy over the opening and closing of the world's fair on Sunday is ended so far as his department is concerned. THE store of Charles Piellas in Lansing, Mich., was robbed by two men of diamonds valued at $160,000. A CYCLONE swept for fifty miles across the counties above Atlanta, Ga., wrecking many buildings and ruining crops. FAILURES were reported of the Columbia bank at New Whatcom, Wash., State bank at Minneapolis, Minn., First national bank at San Bernardino, Cal., People's home savings bank at San Francisco and the Cataract bank at Niagara Falls, N. Y. THE business part of the village of Mount Sterling, O., was destroyed by fire. LEROY PAYNE, one of Chicago's oldest liverymen, failed for $250,000. THE maple sugar crop of Vermont the past season was 5,759,762 pounds, and the bounty will be $70,000. THE new directory of Brooklyn. N. Y., gives that city a population of over 1,000,000. PRINCESS EULALIA sailed from New York on the steamer La Touraine for Spain. THE business portion of Leonardsville, Kan., was destroyed by fire. THE well-known stallion Arrival, record 2:241/2, for whom his owners refused $15,000, died at Gardiner, Me. THIRTEEN contract laborers who arrived in New York from Germany were told that they must return on the same steamer.

15. July 1, 1893 Macon Beacon Macon, MS

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MISCELLANEOUS. Six masked robbers attempted to hold up a Santa Fe train at Coolidge, but the engineer was too quick for them. SOCIALISTS have been rioting at Andrycho, a town in Austrian Galicia. Some of them were killed by the troops. SUPERIOR JUDGE GRANT has decided in favor of Sacramento and against San Jose in the California state capital removal case. SWITCHMAN McGEARY has been held by a Gravesend justice for the killing of the nine people by the wrecking of the Sheepshead Bay race train. A FIFTEEN million dollar ocean steamship combination has been formed at Jersey City. THE commission to revise the statutes of Illinois met at Springfield and organized. IT is settled that the army court of inquiry, appointed to ascertain Col. Ainsworth's official responsibility for the accident at Ford's theater, will not assemble until the grand jury shall have concluded its investigation of that affair. IT is said that the Herschell commission intends to close the Indian mints but only conditionally on the repeal of the Sherman act by the United States. THE Cataract bank, of Niagara Falls, N. Y., has suspended. Deposits amounted to $700,000. A LONE robber boarded a Rock Island express near Virginia, Neb. He bound and gagged the messenger and secured $350. JUDGE HANFORD, of the United States circuit court, has decided that the anticigarette law of the state of Washington is unconstitutional. MEMBERS of the Minneapolis, Minn., fire department are accused of wholesale purloining at fires. FOUR students were drowned at Joliet, Que., by the upsetting of a boat. THE Camperdown and Victoria, two British ironclads, came into collision off the isle of Cyprus in the Mediterranean during the maneuvers. The result was that the Victoria was sunk with about 400 officers and men. Among the lost was Vice-Adm. Tryon. SECRETARY LAMONT has dissolved the military court of inquiry into the Ford theater disaster and will leave investigation to the civil authorities. CLEARING house returns for the week ended June 22 showed an average decrease of 6.6 compared with the correspoding week of last year. In New York the decrease was 4.0. ONE man was killed and two badly burned by a fire at Murray & Nichols Spice Co.'s plant, West Polk street, Chicago. THE Columbia and the First National banks, of New Whatcom, Wash., have closed their doors. SECRETARY MORTON has decided to abolish the experiment farm, which was established by ex-Secretary Rusk at Garden City, Kan. THE coast defense ship Monterey has been finally accepted, and the navy department will assume control of her immediately. paying over to the contractors all of the fund that has been held up as a guarantee of the completion of the vessel.

16. July 1, 1893 The Cape Girardeau Democrat Cape Girardeau, MO

Article from The Cape Girardeau Democrat, July 1, 1893

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THE EAST. A NEW YORK specialist is authority for saying that President Cleveland is to again take the Sweninger cure for obesity. THE Suburban handicap at Coney Island furnished a great surprise, Lowlander winning at long odds in the betting. CORNELL defeated Columbia in the freshman's boat race at New London, Conn., by ten lengths. A SERIOUS explosion occurred at Ridgewood, N. J., when the boiler of the Ridgewood stone crusher works exploded and completely wrecked the engine house. Supt. John Bogert was instantly killed. A TRAIN on the Long Island railroad was wrecked near Parkville. L. I. Nine persons were killed and about 100 injured. THE Lizzie Borden case was given to the jury on the 20th and in a little more than an hour a verdict of acquittal was returned. HENRY SHELDON & Co., tea and coffee merchants. New York, have failed. REV. DR. SAMUEL HART. professor of Trinity college. was elected bishop of the Episcopal church of Vermont. SWITCHMAN McGEARY has been held by a Gravesend justice for the killing of the nine people by the wrecking of the Sheepshead Bay race train. A FIFTEEN million dollar ocean steamship combination has been formed at Jersey City. THE Duryea Portland Cement Co.'s plant near Montezuma, Cayuga county, N. Y.. was destroyed by fire. Loss, $125,000: insurance. $25,000. CHARLES T. PECK. ex-labor commissioner of New York. and indicted for burning state documents, failed to appear for trial at Albany. He was reported to have fled to Europe. WILLIAM MUTCHLER, democratic congressman from the Eighth district of Pennsylvania, is dead. THE Cataract bank. of Niagara Falls, N. Y., has suspended. Deposits amounted to $700,000. THE Reading reorganization plan has failed. NEW YORK bankers all agree that the financial situation is rapidly improving and that the outlook now is all right.

17. July 1, 1893 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, July 1, 1893

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THE EAST. THE Duryea Portland Cement Co.'s plant near Montezuma, Cayuga county, N. Y., was destroyed by fire. Loss, $125,000; insurance, $25,000. CHARLES T. PECK, ex-labor commissioner of New York, and indicted for burning state documents, failed to appear for trial at Albany. He was reported to have fled to Europe. WILLIAM MUTCHLER. democratic congressman from the Eighth district of Pennsylvania, is dead. THE Cataract bank, of Niagara Falls, N. Y., has suspended. Deposits amounted to $700,000. THE Reading reorganization plan has failed. NEW YORK bankers all agree that the financial situation is rapidly improving and that the outlook now is all right. AT Pain's fireworks exhibition on Manhattan beach, a bomb exploded, seriously injuring seven men, one fatally. A SENSATION was created in a New York Catholic church by the priest denouncing a member of the congregation from the pulpit for deceiving him by getting him to wed her to a Protestant. YALE defeated Harvard in the baseball game at Cambridge, Mass. Score, 8 to 2. A CONVICT named Fitzhume was electricised at Auburn, N. Y,, for the murder of a man at Buffalo. THE meeting which had been planned between Mrs. U. S. Grant and Mrs. Jefferson Davis took place on the 24th at Saratoga Springs. MAUD HANIA, who is charged with incendiarism in Chicago, Cincinnati, and elsewhere, as well as in St. Louis, has been arrested in New York. WHEN the case of Frank Ellison, Broker Henriques' assistant, was continued to Friday in a New York court, he objected on account of superstition, and it was set for Thursday. THE New York papers criticise severely Gov. Altgeld's act in pardoning the Chicago anarchists. THE annual meeting of the Society of the Army of the Potomac was held on the 27th in Fanueil hall, Boston. The attendance was large.

18. July 6, 1893 Grand Rapids Herald Grand Rapids, MI

Article from Grand Rapids Herald, July 6, 1893

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In a Receiver's Hands. NIAGARA FALLS, N. Y., July 5. Peter A. Porter has been appointed receiver for the Cataract bank. The bank's lia bilities are 81,026,805. The assets are $754,936.

19. July 6, 1893 The Herald Los Angeles, CA

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Sundry Bank Failures. FIAGARA FALLS, July 5.-A receiver has been appointed for the Cataract bank. Assets, $755,000; liabilities, $1,027,000. GARDEN CITY, July 5.-The Finley County bank has failed. HOWARD, S. D., July 5.-Vilas, Christianeon & Co.'s bank has failed. WINNIPEG, July 5.-The Commercial bank has gone into liquidation. Liabilities, $1,270,000; assets, $1,981,000. The bills of the bank are good under the Dominion law.

20. 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.

21. July 6, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 6, 1893

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A Receiver Appointed. NIAGARA FALLS, July 5.-A receiver has been appointed for the Cataract bank. Assets $150,000, liabilities, $1,027,000.