17697. Sabina Bank (Sabina, OH)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 26, 1893
Location: Sabina, Ohio (39.489, -83.637)

Metadata

Model: gpt-5-mini
Short Digest: 8362f445

Response Measures

None

Description

Contemporary newspapers report the Sabina Bank (Sabina, Ohio) closed or suspended June 26–27, 1893 and in some dispatches say it made an assignment. Multiple articles attribute the failure to the failure of W. T. Haydock, a stockholder — i.e., bank-specific adverse information. No article describes a depositor run prior to suspension. Private banking institution is used in several reports, so bank_type set to private.

Events (1)

1. June 26, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed/suspended following failure of W. T. Haydock, a St. Louis stockholder in the Sabina bank; reports also state the bank made an assignment.
Newspaper Excerpt: Sabina and Jeffersonville banks closed their doors this morning; caused by the failure of W. T. Haydock, of St. Louis, who is a stockholder in both banks.
Source: newspapers

Newspaper Articles (12)

1. June 27, 1893 The Times Richmond, VA

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MORE BANK FAILURES. Two Small Banks Suspend-California Banks Resume. TOPEKA, KAN., June 26.-The Bank of Ness City has closed its doors with but eighty-five dollars and thirty-nine cents in cash on hand. Deposits amount to $31,360, with other liabilities of $4,000. It has loans aggregating $74,000, mostly on real estate securities, from which but little can be realized. The capital of the bank is $40,000. WASHINGTON O., June 26.-Sabina and Jeffersonville banks closed their doors this morning: caused by the failure of W. T. Haydock, of St. Louis, who. is a stockholder in both banks. The Sabina Bank had a capital of $25,000. SAN DIEGO, CAL. June 26.-The Bank of Commerce resumed business this morning, and the First National Bank will probably resume in a few days. Queen City Bank Suspends. BUFFALO, June 26.-The Queen City Bank, which was started here a little over a year ago, closed its doors shortly after noon to-d V. Mr. F. M. Inglehart, one of the direct 's, said that the suspension was due to a steady drain of money out of the bank, which has been going on for several weeks. The bank paid out all the money it had, even the dimes, nickels and pennies, and when the last cent was gone the officers went out and closed. Mr. Inglehart said that the bank had plenty of collateral, but found it impossible to raise money on it in the present financial stringency. The New York banks would not let them have any money. He said the depositors will be paid in full. The bank owes depositors $1,400,000. MINNEAPOLIS, MINN., June 26.-The Bank of New England has suspended payment. Capital stock, $100,000. Deposits unknown.

2. June 27, 1893 Wheeling Register Wheeling, WV

Article from Wheeling Register, June 27, 1893

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CONCERNING BUSINESS AND FINANCE BUFFALO, N. Y., June 26.-The Queen City Bank, which was started here a little over a year ago, closed its doors shortly after noon to-day. Mr. F. M. Inglehart, one of the directors, said that the suspension was due to a steady decline of money out of the bank which had been going on for several weeks. Mr. Inglehart said the bank had plenty of collateral, but found it impossible to realize on it in the present financial stringency. The New York banks would not let them have any money. He said the depositors will be paid in full. The State Superintendent of Banking has been notified of the suspension and will send an examiner here. The officers are hopeful that the bank will resume. It owes the depositors over $1,400,000. GALLIPOLIS, O., June 26.-The Carl Coal Work of Carlton, this county, made an assignment this morning. Liabilities $50,000: assets $7,000. WILMINGTON, O., June 26,-News has just been received here that the Sabina bank, a private banking institution of this county, has suspended. It had a capital stock of about $25,000. MINNEAPOLIS, June 26.-The Bank of New England has suspended. Since the failure of the State Bank on Thursday there has been a steady withdrawal of deposits. A. J. Blethen, the President of the it money in the up bank, says Chicago had failures. considerable Every deposit- tied or, he adds, will be paid in full, as the stockhelders will suffer instead of the depositors if the bank does not resume. The bank had cash available of $64,000 on May 4, the time of the last report, but its liabilities were $200,000 and assets somewhat in excess of that amount. The bank was organized about six years ago. NEW YORK, June 26.-Themoney market was stringent to-day, call loans raaging from ten to thirty per cent. There was a good deal of calling in of loans, preparatory to the July interest and dividend disbursements. This is liable to continue until about the first of the coming month. The market is also likely to work close for the first ten days of July as it is estimated that it will take at least that time to restore the money called, ioto its normal channels. Stock Exchange houses are prepared for a siege of this sort and are discouraging speculation. Time money are and mercantile paper merely nominal. and The foreign exchange market is heavy demoralized. Posted rates were reduced to 4 83 and 4 85, Receipts of bills from the interior by this morning's mail were small. The heaviness of the market coupled with the higher rates for money has revived the talk about gold imports. Presidents or the leading banks reported this morning that the demand from conntry banks to-day for rediscount and loans were smaller than it has been for many weeks, and that the indications were that the crisis had passed. A little more money is expected to be sent to-day to San Francisco by registered mail, and possibly a small transfer may be made by telegraph to that place through the Sub-treasury. New YORK, June 26.-Mann Brothers, clothing dealers at 314 to 319 Broadway, to-day confessed judgment for $55,000. The attorneys for the firm places the liabilities at $250,000.

3. June 27, 1893 The Wilmington Daily Republican Wilmington, DE

Article from The Wilmington Daily Republican, June 27, 1893

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NUGGETS OF NEWS. The paid admissions at the World's fair yesterday were 91,160. The president has appointed James F. Leys to be an assistant surgeon in the navy. At Omaha an entire family of seven were poisoned by eating lettuce salad, one dying. Rev. Dr. Charles A. Hay, professor of Greek at the theological seminary at Gettysburg, Pa., died at that place, aged 72. Thirty-eight Chicago bankers send a message to President Cleveland urging the repeal of the Sherman silver purchase law. Forest fires near Deadwood, S. D., have forced the Homestead and Associate Mining company to close down their mines and mills. It is reported that the Louisville and Nashville railroad will assume control of the Newport News and Mississippi Valley railroad July 1. Theodore Runyon, United States minister at Berlin, has taken Mrs. Runyon to Ems in order that she may be treated there for a bronchial affection. At the penitentiary in Philadelphia a convict (name withheld by the warden) attempted suicide with a razor that had been given him with which to shave. Justice Clement, of Brooklyn, refused to annul the marriage of Colonel William E. Sinn, the theatrical manager, to Cora Tanner, the well known actress. M. P. L. A. Decrais, French ambassador to Austria, has been transferred to London to fill the vacancy in the French embassy there, caused by the resignation of M. Waddington. A dispatch from Washington Court House, O., states that the Sabina and Jeffersonville banks have closed their doors, caused by thefailure of W. T. Haycock, of St. Louis, who is a stockholder in both banks.

4. June 27, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 27, 1893

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MORE WESTERN BANKS GO DOWN. Minneapolis, June 26.-The Bank of New-England suspended payment this morning, temporarily, at least. Since the failure of the State Bank Thursday there has been a steady withdrawal of deposits. A. J. Blethen, the president of the bank. says It had considerable money tied up by the Chicago failures. Every depositor, lie adds, will be paid in full. as the stock holders will suffer Instead of the depositors If the bank does not resame. The capital stock of the bank is $100,000; surplus, $12,000; undivided profits, $4,000; deposits unknown. The Chemical National, of Chicago, recently failed. was the Chicago correspondent. The bank had cash available of 864,000 on May 4, the time of the last report: but its liabili ties were $200,000, and assets somewhat In excess of that amount. No other banks are in any way involved, as they were warned by the State Bank failure. The bank was organized about two years ago. Topeka, Kan., June 26.-The Bank of Ness City has been closed by State Bank Commissioner Breidenthal, after an unsaccessful attempt to raise money among its Eastern stockholders to tide 11 over Its present embarrassment. This bank, which has a capital stock of $40,000, had $31,300 deposits. and when the Bank Controller took charge it land cash on hand of 883 95. Bank Commissioner Breidenthal says the bank was loaded down with real estate. Washington Court House, Ohlo. June 26.-Sabina and Jeffersonville banks closed their doors this morning. caused by the failure of W. T. Haydock, of SI. Louis, who is a stockholder in both banks. The Sabina Bank had a capital of $25,000.

5. June 27, 1893 The Wilmington Daily Republican Wilmington, DE

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STILL tue troubles come. Yesterday the Crum Creek Iron and Steel Company assigned for the benefit of its creditors. The difficulty of getting money and duliness in the iron trade are given as a cause for the failure. The Queen City National Bank of Buffalo, N. Y., has closed its doors,and the Sabina and Jeffersonville banks. Ohio, have followed suit. Huskie & Draper, dry goods merchants. of Wil. mington, N. C., also failed yesterday. Cleveland's good times are coming.

6. June 27, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, June 27, 1893

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Sabina Bank Fails. WILMINGTON, O., June 26.-News has just been received here that Sabina bank, a private banking institution of this county, has suspended. It had a capital stock of $ 25,000.

7. June 29, 1893 Belmont Chronicle Saint Clairsville, OH

Article from Belmont Chronicle, June 29, 1893

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GENERAL NEWS NOTES. Quarters. Items of Interest Gathered From Various Senator Leland Stanford died Wednesday at his at Palo Alto, Cal., on estimated at night. home His wealth is $35,000,000. Bros. Circus was struck was being by Ringling while a performance and eight lightning River Falls, Wis., and many persons given at were instantly killed more injured. for Clark was fined $60, at editor Canton, of Col. striking General Sherwood, the News Democrat. of & Co., a large lumber liabilities firm Cincinnati, Crane have failed with of $150,000. banks in Los Angeles, was Cal., a closed Four their doors. Only one National bank. The Citizens' Savings Bank, of Portshas gone under. at mouth, Four persons were burned to death Flint, o. Duluth. Rufus Devolt was killed by a train at Blanche Hogan, of Sandusky, drank an after ounce with her husband he offering no quarrel of laudanum resistance in and his refusing presence, to go for was physician. Butchers, of near Celina, fire and Pearl when her dress caught baking, burned to death. she The was Miami Valley Insurance Company has out of business. has gone Gibson, of Canton, Sweet, John suit R. against George W. for of brought Chicago. the for affections $50,000 of damages his wife. alienating Hajanecki, a Pole, shot at his Akron. wife Jacob mortally stabbed himself by a and Kansas was devastated Many destructive Eastern cyclone on Thursday. persons were killed. a asked lady young Frank Schoefiler social at Norwalk to go he to at a church with him. himself. She declined, and shot supper her and then tendered Governor on Thursday. McKinley A reception at the was Ohio Building, World's The Fair, new Liberty Bell was successfully is cast at Troy, McCoy, N.Y. U.S. Minister to Liberia, die in twelve Wm. dead. He is the fourth years. Haney, a white man two-year-old living Frank Ga., beat had his whipped Carnesville, girlt death. child death he mashed his to knife heaten broke the its ribs, and stuck head, into its body repeatedly. the off Tripoli war the former In a naval ship maneuver Victoria collided went with down in over the English Camperdown, 15 minutes, and carrying with her Secretary 400 men. Morton says the Populists died are going Richard to pieces. Smith, of Rome, o., Mrs. bite of a copperhead. was from Howard the Gandy, aged 10 years, at Youngstown. was fatally to injured drowned E. E. Craig. at Celina an aeronaut, by his parachute failfarmers drowned. ing J. L. work. Goff, of Muskingum one of the county, wealthiest was Lima burst,killing A soda and fountain wrecking at the building- Findlay, to was burned one Mrs. man Sarilla Yeagley, death by of an near explosion the against recent gasoline. Suits hazers have been at Delaware, brought each victim At Findlay from asking $10,000. Paulina Schlack her husband has begun to action for divorce has been married 53 years. new whom Auglaize she county will erect Court-house. is talk of the coming Congress adopting There the Reed rules. Spain. Only has sailed for World's The Infanta 40,000 attended the Fair on Sunday. at Kirkwood Clyde Webster the was railroad killed in unveiled a buggy. while crossing at Chicago that were hung. Mosstatue The Anarchists of their brethern on a body of killed. British fired twenty were The and the trusts, stringent lemsi Rangoon Illinois is after been enThe State of law having just man H. Todd, a out his a acted. E. Ill., blew wealthy business Illinois, brains. has of Quincy, Altgeld, Schwab, of and Neebe, Governor Fielden, were convicted pardoned They Haymarket riot. the anarchists in the extensive paper Snider & have of for Louis complicity Cincinnati, Sons, failed. bank dealers of Merchants Stobbed National of $3,000 The Minn., was masked robber. through much in Moorehead, broad daylight swept by a damage. Clarke A cyclone Monday. doing of Minnecounty, Bank of New England, its doors, sus- and Queen apolis. The Minn., City, has closed of Buffalo, has of GalliC. have assigned. the pended. A. Carl's Sons, coal Assets men $6,000; liabilities polis, $40,000. of Fayette the Jeffersonville bank, of Clinton Co., have and Gloncester Co., The the Sabina bank, bank, of Athens Co., assigned. of the has free India coinage stopped thousand boy cow was 14 days. the silver. John Berry race to won the World's the Fair. His has anarchists time The pardon bitter of discussion. is caused Ohio much Prohibition Convention in The session at Cleveland. sumyou range Don't purchase until Always your have seen spring wide and what we all of mer Dresses We can show shades at We prices. show. in new attention can choice new Goods, especially call your

8. June 29, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, June 29, 1893

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BANKS FAIL. Several Financial Institutions in Various Places Forced to Suspend. SAN FRANCISCO, June 24.-At a meeting of directors of the Pacific bank, of San Francisco ,it was decided to close the doors. In a statement issued by the vice president the liabilities, outside of capital stock and surplus, are placed at $1,630,000. Assets, properly handled, $2,000,000. All the banks of this city were well prepared for the expected runs on them® NIAGARA FALLS, N.Y., June 24.-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. The suspension was totally unexpected and was not preceded by a run on the bank. MINNEAPOLIS, Minn., June 24.-The State Bank of Minneapolis suspended payment Friday owing to heavy withdrawals of deposits, withdrawals since March having aggregated $100,000. BUFFALO, N. ¥., June -The Queen City bank, which was started here a little over a year ago, closed its doors shortly after noon Monday. F. M. Englehart, one of the directors, said that the suspension was due to a steady drain of money out of the bank, which has been going on for several weeks. The bank paid out all the money it had. It owes its depositors over $1,400,000. The liabilities of the bank according to the June report are $2,328,754. The assets are unknown. TOPEKA, Kan., June i.-The bank of Ness City has closed its doors with but $85.39 in cash on hand. Deposits amount to $31,360. with other liabilities of $4,000. It has loans aggregating $74,000, mostly on real estate, from which but little can be realized. The capital of the bank is $40,000. MINNEAPOLS, Minn., June 27. -The Bank of New England closed its doors yesterday. SABINA, O., June 27.-The Sabina bank was forced to suspend yesterday.

9. June 29, 1893 The Austin Weekly Statesman Austin, TX

Article from The Austin Weekly Statesman, June 29, 1893

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Kansas Bank Failure. WILMINGTON, O., June 27.-Sabina bank, a private banking institution of this county, has suspended. It had a capital stock of $25,000.

10. June 30, 1893 The Clarksburg Telegram Clarksburg, WV

Article from The Clarksburg Telegram, June 30, 1893

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goes down in the vortex of financial disaster Already the number of failures are appalling enough to alarm the strongest hearts. The end is not yet. Still they come The Queen City bank, of Buff. alo. has failed. The bank of New England, at Minneapolis, has closed its doors. The Sabina, O., bank has made an assignment. The Jeffersonville, O., bank has quit. The big Carl Coal Works, of Carlton, O., has gone to smash. Only a part of this week's rec. ord Every day the list grows larger. It now records the downfall of hundreds of similar concerns. If any man,on the 8th of last November. had predicted that the West Virginia farmer would, in seven months, be forced to sell his wool at 15 and 16 cents cash, or else keep it, he would have been put down as a fool. "If any one had predicted on the 8th of last November, when Grover Cleveland was elected President, that within seven months there would be a shrinkage in the actual value of stocks and bonds sold on the New York Stock exchange of nearly one billion dollars he would have been deemed a madman. "If any one had predicted that within seven months after the election day and the return of a Democratic House, Senate and President to power for the first time since 1856, a panic would ensue which would exceed in the aggregate of losses the world-famous panic of 1857, when the same party obtained bsolute.control of the Government for the last time until 1892, the prophecy would probably have excited derision." But, sad as it is to say it, these three calamities have come upon the American people. The TELEGRAM, when seven months ago it announced the result of the election, advised all Republicans to be of good cheer. It said "The Republican party will live because it upholds principles that are immortal. will continue to be the party of progress, protection and education." It will return to power in '96 and the people, familiar with its past, its aims and its purposes, will again have confidence in its principles. It will lead, us as it did in 1857, from darkness to light-from a great need to a towering hope. Not even the most avowed enemies of Democracy looked for such a and sweeping taking of our prossudden away commercial perity. The appalling cost to this country of Democratic success was not comprehended and cannot yet be estimated. One Billion and a Half! Such a loss can hardly be conceived by the individual, because, the figures are so far beyond any personal experience or single commercial transaction. It exceeds the entire sum of actual money in the United States-gold, silver and paper, national bank notes and treasury notes! In this fact lies the secret of the colossal losses, the financial stringency and the daily long list of commercial and banking failures. It is want of confidence. About 93 per cent. of all the business of the country is transacted on credit and about 7 per cent. only on the basis of cash. When credit is impaired; when confidence is lacking, more than in nine-tenths of all the business hand is affected. That is the situ- will ation to-day. Four years

11. June 30, 1893 The Times Owosso, MI

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LATER, Gov. ALTGELD, of Illinois, has pardoned Schwab, Fielden and Neebe, the anarchists sentenced to state's prison on the charge of complicity in the Haymarket massacre May 4, 1886. Fielden and Schwab were sentenced to prison for life and Neebe for fifteen years. THE Crum Creek Iron & Steel Company at Chester, Pa., failed for $120,000. THE Bank of Commerce at San Diego, Cal., and the Savings bank at Fresno, Cal., which suspended recently, have resumed business. INDIA has stopped the free coinage of silver and decided to make gold the money standard of the country. AN explosion of molten iron in Rohig's iron works at Madgeburg, Saxony, killed six workmen and seven others were terribly burned. JAMES STEPHENSON was killed and his son fatally injured by a mad bull at their farm near West Union, O. THE Tremont hotel at Fort Scott, Kan., a four-story brick structure, collapsed, and though 100 persons were in the house no lives were lost as far as known. THE Pennsylvania democratic state convention will be held at Harrisburg September 19. ROBERT BURNS was instantly killed and Louis Johnson fatally injured by the falling of the stone coping of a Minneapolis bank building. S. & G. GUMP, dealers in art goods at San Francisco, made an assignment with liabilities, of $140,000. JOHN FITZTHUM was executed by electricity at Auburn, N. Y. He killed a young man named Raehl in Buffalo April 7, 1892. FRANK HAYES, aged 20 years, was found guilty of murder at Detroit and sentenced to imprisonment for life. THE New Hampshire state building at the world's fair grounds was dedicated, the principal address being delivered by Gov. J. B. Smith. THE firm of Mann Bros., clothing dealers at New York, failed for $250,000. KOZINE and Moneypenny (Indians) were found guilty at Madison, Wis., of the murder of Boneash and his sqaaw last fall. SOUTH CAROLINA'S liquor dispensary has begun business and all saloons would soon be closed. THE Bank of New England at Minneapolis, Minn., the Sabina (0.) bank, the Bank of New City, Kan., and the Queen City bank at Buffalo, N. Y., closed their doors. The liabilities of the latter bank were $2,828,754.

12. July 6, 1893 The Worthington Advance Worthington, MN

Article from The Worthington Advance, July 6, 1893

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WEST AND SOUTH. THE firm of S. & G. Gump, dealers in art goods at Nan Francisco, made an assignment with liabilities of $140,000. THE death of Rev. W. W, Kone, aged 90 years, occurred at Denison, Tex. He was the oldest Baptist minister in the United States, having entered the ministry at the àge of 18, THE Bank of New England at Minneapolis, Minn, the Sabina (O.) bank and the bank of Ness City, Kan., closed their doors. The governor of Illinois has pardoned Michael Schwab, Samuel Fielden and Oscar Neebe, the anarchists sentenced to state's prison on the charge of complicity In the Haymarket massacre in Chicago May 4, 1886. Fielden and Schawb were sentenced to prison for life and Neebe for fifteen years. IN Detroit Frank Hayes, aged 20 years. was found guilty of murder and sentenced to imprisonment for life. THE Merchants' national bank at Moorhead, Minn., was entered by a masked man who covered the teller with a revolver and secured $2,600. T wo INDIANS, Kozine and Moneypenmy, were found guilty at Madison, Wis, of the murder of Boneash and his squaw last fall. At Lebanon, Ind., William Ransdell was bitten by a tarantula while handling bananas. In the bunch of bananas a bunch of 200 young tarantulas was found. Ransdell may recover, THE state liquor dispensary of South Carolina has begun business and all saloons would soon be closed. THE Savings bank at Fresno, Cal., and the Bank of Commerce at San Diego, Cal., which suspended recently, have resumed business. ON a bicycle H. H. Wyllie made the 1,000 miles from New York to Chicago in ten days and four hours. BERRY won the cowboy race to CHP began at Chadron, Neb., June 13. making the 1,040 miles in 13,days, 15 hours and 35 minutes-an average of 77 miles daily. Wine attempting to escape from the prison at Folsom, Cal., three convicts were shot dead by guards. AT Edinburg, Ill., G. P. Harrington, bankers failed for $200,000. American exchange bank of Minneapolis, Minn., and the Second national bank of Ashland, Ky., closed their doors. THE failure was reported of the Bedford (Ind.) Stone Quarries company, the largest producers of politic lime stone the world