Article Text
A BANK RUN. SANDUSKY, O., March 2-There was a ruu on the Sandusky Savings Bank this afternoon, and $50,000 was withdrawn. The larger banks stood by it and pulled the bank through.
17711. Sandusky Savings Bank (Sandusky, OH)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings bank
- Start Date
- March 2, 1893
- Location
- Sandusky, Ohio (41.449, -82.708)
Metadata
- Model
- gpt-5-mini
- Short Digest
3e89d6be
Response Measures
Accommodated withdrawals, Full suspension
Other: Bank made an assignment for the benefit of creditors (closed and assigned); depositors to be paid in full.
Description
Contemporary reports: a groundless run on March 2, 1893 (about $50-60k withdrawn) weakened the bank; on June 5, 1893 the bank closed its doors and made an assignment for benefit of creditors (depositors to be paid in full). Assignment attributed to inability to realize on assets and exposure to the Hospital Supply Company; sequence is run then suspension/assignment (permanent closure).
Events (2)
1.
March 2, 1893
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Described in multiple reports as a groundless/persistent run without reason; characterized as 'groundless' or 'without reason' and 'senseless rumors' that prompted small depositors to withdraw about $50,000-$60,000.
- Measures
- Larger/local banks and business men stood by the institution and assisted; bank paid out withdrawals and was temporarily supported.
- Newspaper Excerpt
- There was a run on the Sandusky Savings Bank to-day, about $50,000 being drawn out by small depositors. The National Bank and the business men stood by the threatened bank
- Source
- newspapers
2.
June 5, 1893
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank was unable to realize on its securities and was carrying exposures (reported carrying the Hospital Supply Company); heavy demands in closing days precipitated an assignment. Reports explicitly link the earlier run as having weakened its immediately available resources.
- Newspaper Excerpt
- Owing to inability to realize upon its securities, this bank has been compelled to make an assignment for the benefit of its creditors. The depositors will be paid in full.
- Source
- newspapers
Newspaper Articles (23)
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Hun on 10 Bank SANDUSKY. Ohio, March 2.-A run was made on the Sandusky Savings bank today. about $50,000 being drawn out by small depositors. The national bank and business men stood by the threatened bank. and before the bank closed the exeitement was ended. The bank is perfeetly sound and no trouble is anticipated for to-morrow.
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SMALL DEPOSITORS. Making a Run on a Bank That Is Perfectly Sound. SANDUSKY, Ohio, March 2-There was a rum on the Sandusky Savings Bank to-day, about $50,000 being dräwn out by small depositors. The National Bank and the basiness men stood by the threatened bank, and before the bank closed the excitement had ended: The bank is perfectly sound, and no trouble anticipated for to-morrow.
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Run on is Hank. SANDUSKY, O., March -There was & run on the Sandusky Sayings bank today, about $50,000 being TOTAWO by amail depositors The National bank and business men stood by the threat. ened bank, and before the bank closed the excitement had ended. The bank is perfectly sound and no trouble is anticipated for tomorrow.
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Business Troubles. A receiver has been appointed for the firm of Laughlin & McManus, Philadelphia. The liabilities are scattered, but the aggregate is not vet known. There was a run on the Sanduky savings bank, of Sandusky, 0.. Thursday, and $50,000 was withdrawn. It is still maintained that the institution is perfectly safe.
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BROKERS SWAMPED. A Receiver Appointed for the Firm of Laughlin & McManus, of Philadelphia. The Firm Possessed of City Warrants for Which No Appropriation Was Made. PHILADELPHYA, March 2.-John S. Hopkins, cashier of the People's National bank, was today appointed receiver for the firm of Laughlin & McManus, brokers. Dissatisfaction among the members of the firm regarding its management is said to be the reason for this step. The primary cause of the failure was due to the firm having its assets locked up in the certificates of indebtedness issued by the public buildings commission. The latter body, in anticipation of reimbursement out of the city appropriations, issued between $500,000 and $800,000 of these certificates. The refusal of city councils to make an appropriation to the commission for this year rendered it impossible for the holders to be reimbursed. The chairman of the stock exchange at 3 p. m. made this announcement: "Laughlin & McManus annnounce that they have placed their business in the hands of a receiver and that they have no unsettled contracts or indebtedness." The indebtedness of the firm is believed to be chiefly among the banks, but the amount has not been ascertained. It is expected that a statement of assets and liabilities will be published tomorrow. SANDUSKY. O., March 2.-There was a run on the Sandusky Savings bank today, about $50,000 being drawn by small depositors. The National bank and business men stood by the threatened bank and before the bank closed the exeitement ended. The bank is perfectly sound and no trouble is anticipated for tomorrow. The late failure of Post, Wickham and others was the primary cause of the panic. YOUNGSTOWN, O., March 2.-Attorney H. K. Taylor, assignee of the Youngstown Stamping company, whose failure involved Gov. McKinley, finally stated today that the investigation of the company's affairs shows assets of $80,892.50 and liabilities, $110,981.79.
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Run on a Savings Bank. SANDUSKY, O., March 2.-There was a run on the Sandusky Savings bank today, about $50,000 being drawn out by small depositors. The National bank and business men stood by the threatened bank and before the bank closed the excitement had ended. The bank is perfectly sound and no trouble is anticipated for tomorrow.
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OHIO NEWS NOTES. Gathered from Various Parts of the Buckeye State. Editcr John B. Fromm of Chillicothe, O., attempted suicide by shooting himself. Heart disease prompted the act. B. F. Pierce, a blacksmith of Spring Valley, O., was killed at a crossing, his buggy being struck by the engine. Myrtle B. Watkins of Felicity, O., suicided with poison at Withamsville, O., where she was attending school. No cause known. Mrs. Elizabeth Nye, 70, struck by a train at a crossing at Springfield, O., and killed. James Bird, the Toledo bunkoist, only got $50 and 30 days. There was a run Thursday on the Sandusky Savings bank, but every depositor got his money. Near Xenia, O., Elisha Seward died from blood poisoning caused by running a splinter into one of his fingers. Mrs. Mary J. Bigger, mother of Rev. I. D. Bigger of Tiffin, O., was burned to death at Chicago by the explosion of an oil stove.
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Telegraphic Brevities. NEW YORK, June 5. - Lazard Freres will ship one million in gold by tomorrow's steamer. NEW YORK, June 5.-The Infanta and her party, started for Chicago today. SANDUSKY, Ohio, June 5.-The Sundusky Savings bank was placed in the hands of a receiver today.
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The Result of an Attachment. CHICAGO, June 5.-E. A. Armstrong & Co. assigned this morning. The assets are $275,000; liabilities $105,000. The firm for 20 years has manufactured uniforms, regalia, society and church goods in this city and Detroit. The assignment was precipitated by attachment in a suit for $5,000 for a merchandise claim. In the absence of the firm Saturday the sheriff took possession of store and held it until this morning when the attachment was satisfied. The news of the filing of the suit got abroad and attachments were hastened from all the creditors. To avoid the contingency and save themselves and all their creditors they made a valuntary assignment. Mr. Armstrong said the cause of the trouble was due to the drawing out of more monny than they anticipated in the building of a new factory at 92d street and the Grand Trunk road. Couldn't Realize on Their Goods. TROY, N. Y., June .-The failure of the Fort Ann Woolen Company of Fort Ann, Washington county, was announced this morning. The property of the company is attached and the mills have been shut down by the sheriff. Inability to realize on their goods in New York, and the general stringency of the money market, are given as the causes of the failure. A Grain Company in the List. KANSAS CITY, June 5.-The Kansas Grain Company, a big commission house with branches all over Kansas, has failed A despatch from Hutchinson, Kansas, says the suspension of the grain company was due to the inability of the company to extend its paper in Kansas City. The assets are placed at $150,000; liabiities $102,000. The Doors Closed. CHICAGO, June 5.-Meadow, Croft Bros. & Co., private bankers, closed their doors this morning. An appropriate estimate places their liabilities at $250,000; assets $460,000. Sandusky Savings Bank Assigns. SANDUSKY, O., June - -The Sandusky Savings Bank assigned today. Its available assets are $300,000; liabilities, $205,OOC.
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Other Failures SANDUSKY. Ohio, June 5.-The San dusky Savings bank closed its doors this morning and posted the following notice: "Owing to its inability to realize upon its securities, this bank has been compelled to make as assignment for the benefit of its creditors. The depositors will be paid in full without loss to any one." Following upon the stoppage of the bank comes the news that the Hospital Supply company has assigned to George Barney and Charles Mack. It is re ported that the savings bank has been carrying the Hospital Supply company. which made the assignment and gave power to take possession at any time. WASHINGTON, June 5. Comptroller Eckels was informed today that the Merchants' National bank of Fort Worth. Texas, capita! $250,000 failed to day. The bank was closed on an order from the directors, and Bank Examiner Stone was placed in charge.
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SANDUSKY SAVINGS BANK Closes Its Doors-Unusually Hoavy Deminds-Depositors Will Lose Nothing. SANDUSKY, O., June 5.-The doors of the Sandusky Savings Bank, which closed Saturday night upon what was generally supposed to be one of the soundest and safest institutions of the city were not opened this morning, but displayed the following announcement: "Owing to inability to realize upon assets at this time this bank has been compelled to assign. All depositors will be paid in full." Intelligence of the assignment spread throughout the city like wildfire, and quickly a large crowd assembled in front of the banking house, but with it all very little excitement wae manifested. The present trouble is ascribed directly to the heavy, though groundless, run that was made on the bank about ten weeks ago, and which it withstood successfully at that time, paying out upward of $60,000 within two days, when the run ceased as suddenly as it had begun. This drain upon its immediately available resources handicapped the bank seriously, although it has been doing as much, or more, business since the flurry than before, such confidence did the people, especially the business community, have in its stability. Some heavy demands upon it during the closing days of last week, however, precipitated the crisis this time. The available assets of the bank will aggregate fully $300,000, while the liabilities at an outsido eatimate are only about $205,000, and it was for that reason that an assignment was decided upon rather than a receivership.
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one of Welsebach's stores on a bill of sale. E. A. Armstrong & Co., dealers in uniforms, made a voluntary assignment this morning; assets are stated to be $275,000; liabilities $105,000. The firm for twenty years has been manufacturer and dealer in uniforms, regalla, society and church goods In this city and Detroit. The assignment was precipitated by an attachment suit filed in the superior court by E. Sawyer for $5,000 for merchandise claim. In the absence of the members of the firm Saturday evening the sheriff took possession of the store and held it till this morning, when the attachment suit was satisfied and a stipulation to that effect filed in the superior court. The news of the filing of the suit had gone abroad, and attachments were threatened from all the creditors. To avoid that contingency and to save themselves and all their creditors they made a voluntary assignment, which they expect will be temporary only. A Savings Bank Assigns. SANDUSKY, O., June 5.--The doors of the Sandusky Savings Bank, which closed Saturday upon what was generally supposed to be one of the soundest and safest institutions of the city, were not opened this morning, but displayed the following announcement: "Owing to inability to realize upon assets at this time, this bank has been compelled to assign. All depositors will be paid in full." The present trouble is ascribed directly to the heavy, though groundless, run that was made on the bank about ten weeks ago, and which it withstood successfully at that time, paying out $60,000 within two days, when the run ceased as suddenIy as it had begun. This drain upon its immediate available resources handicapped the bank seriously, although it has been doing as much or more business since the flurry than before, such confidence did the people, especially the business community, have in its stability. Some heavy demands upon it during the closing days of last week, however, precipitated the crisis this time. Runs on Milwaukee Banks. MILWAUKEE, June 5.-Runs were started to-day on the Second Ward Bank and Southside Savings Bank, but neither of them assumed very serious proportions. The failure of F. T. Day Plankington Bank seems to have increased the nervous fears of small depositors. Business men are not in the leat alarmed at the situation, and predict that the flurry will end in a day or two unless it is aggravated by more failures. This, however, did not allay the apprehensions of those outside, and for a while the crush was intensified. The bank officials did not seem to be in the least alarmed The officers and directors of the bank are all wealthy Germans. Herman Felsenthal is president and Jacob Gross vice-president. It has a capital of half a million dollars. Its table report made to the State auditor on May 10th showed deposits of $1,200,000. The appearance of the crowd during the run indicated that the depositors were largely of small or limited means. Fully 20 per cent. were women. A run was also started on the Dime Savings Bank, at 104 Washington street, this afternoon. This institution has deposits aggregating $600,000, and among its directors are Colonel Robert C. Clowry, vice-president of the Western Union Telegraph Company and ex-Senator C. B. Farwell. President Bailey of the bank says he has a dollar and a half for every dollar deposited, but the greater part of the money is tied up in securities. He does not know how long the bank can stand the run, but expects to pull through The bank has a capital stock of $100,000 and a surplus of $50,000. There was a run on the Hibernian Bank, one of the largest saving institutions in the country. Depositors were paid off at the rate of three a minute. The deposits amount to $3,500,000 and the officers of the bank believe they can stand the run. A run on the Prairie State Savings Bank, which started Saturday, was resumed this morning. The officers are confident that they have ample means available to meet all demands from depositors. The bank's business is practically confined to the west side.
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DOORS SHUT AT SANDUSKY. A Savings Bank Unable to Realize But Depositors Won't Lose. Sandusky, O., June .-The doors of the Sandusky Savings Bank which closed Saturday night upon what was generally supposed to be one of the soundest and safest institutions of the city, were not opened this morning, but displayed. the following announcement "Owing to inability to realize upon our assets at this time this bank has been compelled to assign. All depositors will be paid in full." The present trouble is ascribable directly to a heavy though groundless run that was made on the bank about ten weeks ago and which it withstood successfully at the time, paying out upward of $60,000 within two days, when the run ceased as suddenly as it had begun. The drain upon its immediately available resources handicapped the bank seriously, although it had been doing as much or more business since the flurry than before, such confidence did the people, especially the business community, have in its stability. Some heavy demands upon it during the closing days of last week, however, precip. ated a crisis this time.
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A Sandusky, O., Bank Assigna SANDUSKY, O., June 5.-The Sandusky Savings bank, supposed to be one of the safest in the city, closed its doors.and made an assignment this morning, giving as the reason its inability to realize on assets and saying that all depositors would be paid in full. A heavy run was made on the bank six weeks ago, which it withstood. The drain, however, is believed to have weakened it. The available assets are estimated at $300,000 and the liabilities $205,000. WARRINGTON CITY, June 5.-Comptroller Eckies has received information that the Merchants' National Bank of Fort Worth, Tex., with a capital of $25,000, failed today. It was closed on an order from the directors and Bank Examiner Stone IS in charge.
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An Ohio Savings Bank Collapses. SANDUSKY, O., June 5.-The Sanducky Savings bank, supposed to be one of the safest in the city, closed doors and made an assignment this morning, giving as a reason inability to realize on assets, and saying all depositors would be paid in full. A heavy run was made on the bank last week, which it withstood, but the drain weakened it. The available assets are estimated at $300,000; liabilities, $205,000.
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perienced a heavy run this afternoon. It started just before noon with the ap- pearance of some thirty or forty deposi- tors, news spread like wild fire and within half an hour the lobby was filled with an excited crowd of men and women. The officers and directors of the bank are all wealthy Germans. It has a capital of $500,000, its last report made May 10, showed deposits of one million two hundred thousand dollars. The appearance of the crowd during the run indicated that the depositors were largely people of small or limited means. Fully twenty per cent. were women. A run was also started on the Dime Savings Bank. This institu- tion has deposits aggregating $600,- 000, and among its directors are Col. Robt. C. Clowry, vice-president of the Western Union Telegraph Com- pany, and ex-Senator C. B. Farwell. President Bailey says the bank has a dollar and a half for every dollar de- posited, but the greater part of the money is tied up in securities. He does not know how long the bank can stand a run but expects to pull through. The bank has a capital stock of $100,000 and surplus of $50,000. There was a run to-day on the Hibernian Bank, one of the largest savings institutions in the country. De- positors were paid off at the rate of thirty a minute. The deposits amount to three and a hald millions and the officers of the bank believe they can stand the run. The run on the Prairie State Bank, which started Saturday, was resumed this morning. The officers are confident however, that they have ample means available to meet all demands. SANDUSKY, Ohio, June 5.-The doors of the Sandusky Savings Bank, which closed Saturday night upon what was generally supposed to be one of the soundest and safest institutions of the city, were not opened this morning, but displayed the following announcement: "Owing to inability to realize upon assets at this time this bank has been com- pelled to assign. All aepositors will be paid in full." MILWAUKEE, June 5.--There was a sligh trun on the Southside Savings Bank this morning. It was a sort of holdover from Saturday. By noon, however, whatever slight excitement there was nad subsided. MILWAUKEE, June 6.--Runs were started to-day on the Second National Bank and Southside Savings Bank, but neither of them assumed very serious proportions. The failure of F. J. Day, of the Plankington Bank, seems to have increased the nervous fears of small depositors. Business men are not in the least alarmed at the situation.
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The Intelligencer. WHEELING, JUNE 7, 1893. Bank Runs Without Reason. It must be very discouraging to croakers when a run is made on a bank and the bank, instead of closing its doors, keeps open iate and opens earlier than usual to give the frightened a chance to draw their money. The chief idea if a run is that the money is wanted of it cannot be had; and if it is ready on demand it is not wanted. With one exception the Chicago savinge benks on which runs have been started have waived their right to thirty, sixty or ninety days' notice as the case may be, and paid on domand as fast as the money could be handed out. The one bank which insisted on the notice, and probably wisely, has the money ready for its depositors but did not think it necessary to waive its right for the more sake of being rushed. For an instance of the other kind we have the Sandusky Savings Bank, a perfectly solvent concern, which has been obliged to suspend because of a persistent run without reason. This bank's liabilities are about two-thirds of its available assets, but of course the assets could not at once be converted into cash to pay over the counter. It would seem a waste of time to explain that a bank cannot keep all of its deposits in its vaults and pay interest on them. Before it can pay interest the interest must be earned, and this is done by lending the money on sufficient security and becoming responsible to the depositor. Experience tells the bank about how much cash it must keep on hand to satisfy checks. When the demand for cash goes beyond this normal level the bank must borrow on its securities or sell them tn realize immediately. If this cannot be done because of stringency in the money market, or for any other reason, the bank must close its doors. Every bank in Wheeling is known to be solvent and solid. There is not one of them that is not good for very much more than its total liabilities. If there were to be a run on one beyond its ability to take care of itself on the instant, all the others would go to its rescue. Yet if all the depositors in all the banks were to want all their money at the same time, giving the banks no chance to withdraw their balances in New York, or to realize on their securities, the banks would have to close in spite of their decided strength and absolute solvency. Depositors have a right to demand that the banks shall be conducted with great conservatism, as the banks of Wheeling are known to be conducted: but depositors should be conservative and thoughtful, always careful not to demand unreasonable things and not to put on unnecessary pressure. People who know their money is safe should be careful not to place the business of a whole community in jeopardy by putting on unnecessary strain; for in the end it is not the solvent banks, but the manifold business interests that depend on them, that suffer. When the general business interests suffer, every private interest, big or little, suffere with them. Wheeling has passed unharmed through many flurries, largely because the banks are accorded the confidence to which they are entitled, because the business of the city is on a solid basis and conducted SO conservatively as to give our business men almost exceptional standing in the great markets, because the people have and a very liberal endowment of common sense fortified by reassuring experience.
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Merchant's National bank of Fort Worth, capital $250,000, failed to-day. The bank was closed on an order from the directors and Bank Examiner Stone was placed in charge. SANDUSKY, O., June 5.-The Sandusky Savings banks closed its doors this morning, owing to its inability to realize upon its securities. The depositors will be paid in full. PORTLAND, ORE., June 5.-Private advices from Spokane, Wash., state that the Bank of Spokane has suspended. It is one of the smaller banks of Spokane.
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OHIO NEWS NOTES. Gathered from Various Parts of the Buckeye State. It is rumored that the anti-Catholics will endeavor to prevent Father O'Leary from saying mass in the Ohio penitentiary. J. L. Quick, cashier for the Loudon ville (O.) Banking company, is short $25,000 be cause he indorsed largely for his brother, who had reverses. His property will cover all. Quick is is still in Loudonville. There was no truth in the report ed strike of oil near Bellefontaine, O. Two small children of Allen Pressley were fatally poisoned on wild turnips nea. Celina, O. Sheeve, O., is greatly exercised over the discovery of a number of empty graves in the village cemetery. Murderer William J. Elliott may be pardoned from the Ohio penitentiary on account of bad health. A boy named Balch was drowned neal Nelsonville, O. He and his brother at tempted to cross a swollen stream in a wagon, which was upset. William Hill, living near Hamden Junction, O., was killed by lightning. Charles Fauldner of Springfield, O., who recently murdered his employer, George German, with a currycomb, is grieving himself to death over his crime. He is at home unguarded. Potter's bank at Paulding, O., closed its doors after a successful career of 19 years. There was no explosion in the mine at Salineville, O. Charles Saltsman was killed by a fall of slate. Northwestern Ohio had a severe rain and hailstorm Friday evening. In some places the hail was several inches in depth. Mrs. A. W. Clutter of Ada, O., kissed her husband and two children and left the house. She has not been seen since. It is believed she suicided. Winfield Port of Athens, O., swallowed morphine and died. The Sandusky (O.) Savings bank is now in the hands of a receiver. Part of the Lima (O.) papermill was de stroyed by fire. Loss, $15,000. Andrew J. Clark of West Berlin, O., strangled to death while coughing. Jason Brooks, one of the oldest potters in America, died at East Liverpool, O. W. E. Chappell of Columbus, O,, who was run over by a streetcar there and lost both legs, has sued the company for $35,420. Judge David Pugh of Columbus, O., who was bitten by a mad dog, is free from the poison, but his health has not improved since returning from the Pasteur institute in New York.
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Sandusky Savings Bank Closes Its Doors. SANDUSKY, June -The Sandusky Savings bank closed its doors yesterday morning and posted this notice: "Owing to its inability to realize upon its securities, this bank has been compelled to make an assignment for the benefit of its creditors. The depositors will be paid in full, without loss to any one." Following upon the stoppage of the bank came the news that the Hospital Supply Company had assigned to George Barney and Charles Mack. It is reported that the savings bank had been carrying the Hospital Supply Company, which made the assignment and gave power to take possession at any time. The savings bank has a capital of $100,000, paid in. and there is a surplus of $5,000. In addition stockholders are liable to the extent of another $100,000. The bank received a shock in March by a run, but the other local banks came to the rescue, and so did one or two wealthy citizens. George Barney is president, and the directors are all well-known business men. Barney says every depositor will be paid in due course, but it will take some time. All classes of people are interested in the bank.
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South and West. THE Old Kentucky Home at the Chicago Fair Grounds was dedicated. It is the Blue Grass State Building and one of the most attractive in the grounds. Miss Enid Yandel's statue of Daniel Boone was unveiled. AT the Sisseton Agency, South Dakota, Miss Cynthia Rockwell, an Illinois teacher at Coodwill Mission. has married Richard King, an Indian, studying for the Presbyterian ministry. THE Plankinton Bank in Milwaukee, Wis., closed its doors. The bank had loaned $200,000 to F. A. Lappen & Co. and the Lappen Furniture Company, and this was the principal cause of its suspension. THE Victoria Cordage Company, Cincinnati, Ohio, members of the Cordage Trust, has assigned. Assets, $500,000 liabilities, $400,000. TORNADOES did great damage to property in Mississippi, Tennessee, Arkarcas and Kentucky. At Rosedale, Miss., W. L. Bawdre and wife were killed. IOWA Prohibitionists nominated a full State ticket. THE members of the graduating class at Annapolis (Md.) Naval Academy, forty-four in number, received their diplomas at the hands of Secretary Herbert. W. V. N. Powelson, of New York, received the honors of his class graduating No. 1. A RECEIVER was appointed at Charleston, W. Va., for the Norfolk and Western Railroad. DURING a heavy rain storm fire was discovered in a block on Farnumstreet, Omaha, Neb. The entire city Fire Department was called to the scene. A high wind was blowing. One of the walls fell on seven firemen. Five of them were instantly killed. WHILE a primary election was held in Bell County, Kentucky, by the Democratic party, excitement ran high, and in a fight at Pineville, the county seat, John Jones and Levi Hoskins were killed and two others were fatally injured. OWING to a storm less than 60,000 persons visited the World's Fair on the second Sunday opening. TWENTY-FIVE men walked into Decatur, Ill., a city of 22,000 people, and lynched Samuel Bush on the principal street without opposition. Bush was a colored man accused of assaulting two white women. AT Chicago, Ill., Herman Schaffner & Co., private bankers, made an assignment. Schaffner & Co. have been the largest private bankers in the Northwest, dealing exclusively in commercial paper. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash. and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadowcroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed.
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South and West. THE Old Kentucky Home at the Chicago Fair Grounds was dedicated. It is the Blue Grass State Building and one of the most attractive in the grounds. Miss Enid Yandel's statue of Daniel Boone was unveiled. AT the Sisseton Agency, South Dakota, Miss Cynthia Rockwell, an Illinois teacher at Coodwill Mission, has married Richard King, an Indian, studying for the Presbyterian ministry. THE Plankinton Bank in Milwaukee, Wis., closed its doors. The bank had loaned $200,000 to F. A. Lappen & Co. and the Lappen Furniture Company, and this was the principal cause of its suspension. THE Victoria Cordage Company, Cincinnati, Ohio, members of the Cordage Trust, has assigned. Assets, $500,000; liabilities, $400,000. TORNADOES did great damage to property in Mississippi, Tennessee, Arkansas and Kentucky. At Rosedale, Miss., W. L. Bawdre and wife were killed. IOWA Prohibitionists nominated a full State ticket. THE members of the graduating class at Annapolis (Md.) Naval Academy, forty-four in number, received their diplomas at the hands of Secretary Herbert. W. V. N. Powelson, of New York, received the honors of his class graduating No. 1. A RECEIVER was appointed at Charleston. W. Va., for the Norfolk and Western Railroad. DURING a heavy rain storm fire was discovered in a block on Farnum street, Omaha, Neb. The entire city Firs Department was called to the scene. A high wind was blowing. One of the walls fell on seven firemen. Five of them were instantly killed. WHILE a primary election was held in Bell County, Kentucky, by the Democratic party, excitement ran high, and in a fight at Pineville, the county seat, John Jones and Levi Hoskins were killed and two others were fatally injured. OVING to a storm less than 60,000 persons visited the World's Fair on the second Sunday opening. TWENTY-FIVE men walked into Decatur, Ill., 8 city of 22,000 people, and lynched Samuel Bush on the principal street without opposition. Bush was a colored man accused of assaulting two white women. AT Chicago, Ill., Herman Schaffner & Co., private bankers. made an assignment. Schaffner & Co. have been the largest private bankers in the Northwest, dealing exclusively in commercial paper. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash, and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadoweroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed.