18327. Lane County Bank (Eugene, OR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
June 20, 1893
Location
Eugene, Oregon (44.052, -123.087)

Metadata

Model
gpt-5-mini
Short Digest
b1bcc872

Response Measures

None

Description

The Lane County Bank temporarily suspended on 1893-06-20 due to the money-market stringency (no clear run on this specific bank). It later reopened around 1894-06-20 (newspaper 1894-06-22 reports it opened 'Wednesday morning'). A statement of condition was published 1893-06-27 showing assets $225,000 and liabilities $85,000. Bank type not explicit in articles.

Events (3)

1. June 20, 1893 Suspension
Cause
Macro News
Cause Details
Became cramped by the stringency of the money market and failed to secure assistance from Portland and San Francisco banks; closed to allow time to collect loans rather than force collections through court.
Newspaper Excerpt
EUGENE, Ore., June 20.-The Lane County bank failed to open today. A notice posted on the door says that the depositors will be paid in full.
Source
newspapers
2. June 27, 1893 Other
Newspaper Excerpt
Eugene, Or., June 27.-The Lane County Bank, which suspended a few days ago, issued a statement tonight. It shows total assets of $225,000: liabilities, due depositors, $85,000.
Source
newspapers
3. June 20, 1894 Reopening
Newspaper Excerpt
The Lane county bank at Eugene which suspended about a year ago, opened its doors for business Wednesday morning.
Source
newspapers

Newspaper Articles (11)

Article from The Wichita Daily Eagle, June 21, 1893

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No ball game; rain. FAILURES. CHATTANOOGA, Tenn., June 20.-The City Savings bank of this city assigned last night. The assignment was forced by a mistake of Dun's agent, who reported the failure of the Penny Savings bank last Saturday as the failure of the City Savings bank. The mistake, which was immediately corrected, sowed the seeds of distrust, and heavy runs followed on Saturday and yesterday, crippling the bank so that it was forced to assign. The assets are given as $475,000 and the liabilities as $225,000. NASHUA, N. H., June 20.-The Colony Manufacturing company (woolens) has assigned. The liabilities are $160,000. The assets will not pay more than half. DENVER. June 20.-The Acme Pressed Brick and Improvement company has assigned. The assets are $64,800 and the liabilities $27,800. The tightness of the money market is the alleged cause. EUGENE, Ore., June 20.-The Lane County bank failed to open today. A notice posted on the door says that the depositors will be paid in full. No statement was made.


Article from The Daily Morning Astorian, June 21, 1893

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BANK SUSPENSIONS. The Stringency in the Money Market Continues With Bad Results. Eugene, June 20.-The Lane county bank, the oldest financial institution in this county, failed to open its doors this morning, having become cramped by the stringency of the money market. Hovey, Humphry and Co. have posted a notice that depositors will be paid in full. No statement has yet been made as to the assets and liabilities, but depositors do not seem to have any fears, and many say that if the bank should open this afternoon they would not draw. The cashier stated in an interview today that the assets, notes and property would amount to nearly three times the liablities. No attachments have been issued and, probably, there will be none. The bank strongly asserts that it will pay every dollar to the depositors, but in order to realize on their credits at once they would be compelled to go into court and crowd their patrons. This they did not feel disposed to do, and when they failed to secure assistance from Portland and San Francisco banks, they concluded to take plenty of time to it, and let matters shape themselves when the money market should be easier. Some excitement was created on the streets and a run was threatened on the other banks, but they were fully able to pay every demand promptly. Albany, Or., June 20.-The excitement over the financial flurry has quieted down. The official statement of the suspended bank's condition will show, it is stated, assets sufficient to pay depositors every dollar. Los Angeles, June 20.-The University Bank and the City Savings Bank closed their doors this morning. The president of the City Bank says that the bank has closed temporarily in order to collect money from its loans and securities. He says depositors will be paid in full. The closing of the University Bank, which is a commercial bank, was a surprise. It has a notice on the door to the effect that depositors will be paid in full. Washington, June 20.-The comptroller today received Messrs. Newberry and Wood, of the Citizens' National Bank of Spokane, Wash., who wish to make some arrangement for reopening that bank. No agreement satisfactory to Eckles could be made. The bank will either go into voluntary liquidation or a receiver will be appointed. Nashua, N. H., June 20.-The Colony Manufacturing Company has failed, liabilities, $168,000, assets, about half. The company was engaged in the manufacture of woolens. Chattanooga, Tenn., a June 20.-The City Savings bank, as a result of a run, has been forced to suspend. Assets, $475,000, liabilities, $225,000. All depositors will be paid in full.


Article from The Sun, June 21, 1893

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MINOR BUSINESS TROUBLES. Failures Here and There About the Country -Stringency of the Money Market. NASHUA. N. H.. June 20.-The Colony Manufacturing Company of Wilton assigned yesterday. The liabilities are estimated to be $168,000 and the assets simply amount to the plant. buildings, and some goods on hand. It IS estimated that not more than fifty cents on the dollar can be realized from the assets. Several Nashua merchants were stockholders. and will lose heavily. The corporation has carried on a woollen manufactory and has done an extensive business. It employed,200 hands. The cause of the failure is said to be inability to sell the goods. and also that the company paid too high wages. COLUMBUS, O., June 20.--J. & G. Butler. Wholesale grocers. assigned yesterday to Charles B. Butler. Liabilities, $50,000: ASBets. $80.000 to $100,000. Cause. financial stringency. The firm has been in business since 1854. WILMINGTON, N. C. June 20.-Adrian & Vollers. wholesale grocers and liquor dealers. one of the oldest business houses in the city. have assigned. with preferences. The failure was precipitated by that of the Bank of New Hanover. in whose favor they executed amortgage for $90.000 several months ago. Few depositors are calling for money at the Wilmington Savings and Trust Company's banking house to-day. and some of those who withdrew their money yesterday have already returned it. Deposits are being freely made by business men this morning. INNEAPOLIA June 20.-James McMillan of Minneapolis has made a voluntary assignment of his property to M. C. Fletcher. Mr. McMillan was in the hide and fur business until a short time when his business was transferred to R corporati 11 known as James McMillan & Co. The assignment does not affect this corporation. Mr. Fletcher estimates that the assets will amount Dabout 700,000, and liabilities to $250,000 Of his liabilities sixty por cent. are foreign creditors, persons who have made consignments of goods to him. or who have furnished capital. The other forty per cent. are Minneapolis people. KA.. une 20.- The State Bank Commissinner yesterday ordered the State Bank of Plainville closed The capital stock is $50,000. but the amount of lia ilities is not obtainable. The officers of the Dank bay that depositors will be paid in full. Abe teinburg a clothing merchant. failed yesterday. The liabilities are it out an nondinal assets of equal $40,000. amount. with Chattel mortgages on the stock were given to various pre erred creditors BRIDGEPORT, June 20. - The liabilities of the Eaton. Cole & Burnham Company. which passed into the hands of receivers yesterday. presaid to SACO,COO and the assets double that amount. The business here will be conducted by the receivers. E. G. Durnham and E. H. Cole who are memlers of the copartnership. Frank Milier o this city gave 350,000 bonds for the receivers. The first intimation here of any trou le was received last night. when the 100 employees did not receive their pay as usuals EUGENE Or. June 20.-The Lane County Bank temporarily suspended to day. It has plenty of property in slight to secure all depositors. SAN FRANCISCO, June 20.-The Broadway Bank has closed its doors. It was an unimportant concern. A lively run was kept up on three banks until the closing hour. Apprehensions are telt for -morrow, as it is evident that the run will be kept up.


Article from The Seattle Post-Intelligencer, June 22, 1893

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BUSINESS TROUBLES. The Citizens' Savings bank, of Portsmouth O., has failed. The Ellsworth Packing and Provision Com. pany. of Chicago, assigned on June 21. H. c. Tucker & Co., private bankers of But. falo, N. Y.. closed their doors June 20, Sloan, Johnson & Co., wholemale grocers of Omaha, have assigned. Liabilities, $300,000; as. sets, $250,000 The Lane County bank, of Eugene City, Or., suspended on June 20, but business mea still retain confidence in is The excitement over the Albany. Or., bank suspension is quieting down and 11 is thought the bank will pay in full. Newberry and Wood, of the Citizens' National bank, of Spokane, waited on Comptroller Eckele on June 30, but failed to come to any agreement about reopening the bank. The Colony Woolen Manufacturing Company. of Nashua. N. H., failed on June 29 with liabil ities of $168,000 and assets of half that amount The City Savings bank, of Chattanooga, Tenn, as a result of a run, was forced to suspend on June 20, with assets of $475,000 and liabilities of $225,000.


Article from The Dickinson Press, June 24, 1893

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ONLY TEMPORARY. Eugene, Or.. June 21.-Lane County bank temporarily suspended to-day. It has plenty of property in sight to secure all creditors.


Article from The Progressive Farmer, June 27, 1893

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Two of the largest and reputed strongest theatrical troupes in America have gone into the hands of receivers in the past few days "Great prosperity" is no respector of persons. The Cassell Company, the great Eng lish and American publishing concern of New York and London, failed last week. The liabilities are large and the assets cannot be converted into cash at present. WASHINGTON, June 6.-Comproller Eckels to day appointed Robt. M. Ditty receiver of the Citizens' National Bank of Hillsborough, Ohio, and Elisha May, of St. Johnsbury, Vt., an examiner of national banks. FAIRFIELD, III., June 16.-The liabilities of S. Bonham, the banker. who failed yesterday, are in the neighbor hood of $125,008, with assets equal to more than that amount. Iti thought the bank will pay dollar for dollar. E. Bonham's large merchandise store is included in the assignment PORTSMOUTH, Ohio, June 31.-The Citizens' Savings Bank assigned o day to A. F. Halcomb and Frank M. Smith. A run on the bank made this step necessary. The liabilities are something over $300,000 and assets over $400,000. Great excitement has spread and runs, more or less strong, are being made on the other banks, viz: The Portsmouth National, Farmers' National and First National, and they are taking advantage of the 10 per cent. limit. The Little Kanawha Lumbering Mills are in the hands of a receiver. The failure of the Citizens' Bank will embarrass some of the manufacturers here. ASHBORO, June 21.-J. A. Wall, a merchant at Sophia, assigned to day, R. R. Ross, trustee. This is the third assignment in Randolph in fifteen years. Los ANGELES, Cal., June 21.-The Southern California National Bank and the Los Angeles National Bank here closed their doors this morning. EUGENE, Oregon, June 20 -The Lane County Bank temporarily suspended to day. It has plenty of property in sight to secure all depositors. CORVALLIS, Oregon, June 20.-The creditors of Hamilton, Job & Co., bankers, who failed a week ago, held a meet ing yesterday. The receiver made a statement showing the total assets to be $195,000. A deduction of $62,000 for doubtful overdrafts and bills receivable leaves available assets of $133,000 The liabilities are $224,000. An assignment has been made for the benefit of the creditors. TOPEKA, Kansas, June 20.-TheState Bank Commissioner yesterday ordered the State Bank of Plainville closed. The capital stock is $50,000, but the amount of liabilities is not obtainable. The officers of the bank say that depositors will be paid in full. PITTSBURG, Pa., June 19.-The Oil Well Supply Company, with assets of $2,500,000 and liabilities of $1,000,000, was totally unable to meet its indebted ness to day, and to prevent forced sales and a waste of property had to seek of the courts. John Eaton, of company, was appresident the aid the pointed receiver by Judge A. Cheson, of the United States Circuit Court. BOSTON, Mass., June 16.-Winkley, Dresser & Co., the Milk street stationers, made an assignment to-day to Francis Doane, a well-known stationer. The liabilities are $150,000 and the assets somewhere in the same neighborhood. PHILADELPHIA, Pa., June 16.-The Reading Rolling Mill Company yesterday made an assignment for the benefit of creditors to Joseph R. Cofrode and Lllis Ames Ballard. BUFFALO, N. Y. June10 6.-The Genesee Oil Works, limited, have made a general assignment. The liabilities of the company are about $300,000. The cause of the assignment was the inability to meet several large notes when they became due or to have them extended. THE EATON, COLE AND BURN-


Article from The Daily Morning Astorian, June 28, 1893

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A SATISFACTORY STATEMENT. Eugene, Or., June 27.-The Lane County Bank, which suspended a few days ago, issued a statement tonight. It shows total assets of $225,000: liabilities, due depositors, $85,000.


Article from Idaho County Free Press, June 30, 1893

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FINANCIAL TROUBLES. Lane County Bank, at Eugene, Is Closed Temporarily. EUGENE, Or., June 20.-The Lane County bank, the oldest financial institution in this county, failed to open its doors this morning, having become cramped by the stringency of the money market. Hovey, Humphrey and Oo. have posted a notice to the effect that the depositors will be paid in full. No statement has yet been made as to the assets and liabilities, but depositors don't seem to have any fears, and many say that if the bank should open this afternoon they would not draw. Two Failures in California. Los ANGELES, Cal., June 20.-The City savings bank and the University bank closed their doors this morning. The president of the City bank saye that the bank is closed only temporarily, in order to collect money from its loans and securities. He says the depositors will be paid in full. The closing of the Uuiversity bank, which is a commercial bank, was a surprise. It has a notice on the door to the effect that depositors will be paid in full. Liabilities, $225,000; Assets, $475,000. CHATTANOOGA, Tenn., June 20.-The City savings bank as a result of a run, has been forced to suspend. Assets, $475,000; liabilities, $235,000. All depositors will be paid in full. Liabilities, $168,000; Assets, $84,000. NASHUA, N. H., June 20 -The Colony manufacturing company has failed. Liabilities, $168,000; assets, half. The company was engaged in the manufacture of woolens.


Article from The Lebanon Express, June 30, 1893

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The officers of the Lane County Bank, of Eugene, recently suspended, yesterday published a statement showing the following: Loans and discounts, $115,000; real estate and niortgage, estimated. $100.000; miscellaneous $10,960; total $225,000. Liabilities: due depositors, time certificates, and bills payable, $85,000. They say: "We have ample loans to pay all of our depositors in full, besides other means, but to force collections on these loans by process of law at this time would cause a panic at home and bankrupt, seriously damage or ruin hundreds of good men and create great losses to ue, and cause much longer delay through legal process than by private and individual efforts. Hence rather than bring this calamaity on those owing us, we preferred to close our bank and bear the harsh reflections that may be made-believing that in the end you will all justify us in this course. Knowing all our claims and being familiar with the condition of our many customers we propose to collect as fast as possible without expense to anyone, our loans and apply the same to the satisfaction of claimants." By request a committe of citizens examined into the condition of the other two banks and publish a statement showing them to be safe financially.


Article from Idaho County Free Press, June 22, 1894

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NEWS OF THE WEEK. The president has signed the New York and New Jersey bridge bill. The report that the Millard party were lost in the Southern California desert is false. Dr. Henry C. Meyer, the New York poisoner, has been sentenced to Sing Sing prison for life. The cash balance in the treasury Monday was $116,813,621, of which $68,375,525 is gold reserve. Census returns show that about 70 per cent of all the farms in the United States are unencumbered. B. F. Cox, 30 years old, committed suicide in Boston Friday. Unrequited love was the cause. A sharp frost visited the section about Boise, Idaho, Sunday night, resulting in great damage to vegetables. Snow fell at Carson, Nev., Sunday. This is something unprecedented in that section at this time of the year. The southern half of Augusta, Kan., is inundated, and the Arkansas river threatens to flood Wichita, Kan. Four out of a party of six were drowned Sunday by the upsetting of a boat on the Foster reservoir at Brewster, N. Y. A semi-annual dividend, of 2½ per cent payable August 1, has been declared on Canadian Pacific common stock. Muley Hassen, the Sultan of Morocco, is dead. It is rumored that he was murdered while traveling near his capital. N. J. Morrissey, Mrs. N. B. Cantz and Raymond Miller were sunstruck at Warsaw, Ind., Sunday, and will not recover. Charles Blaker, 40 years old, of Amboy, Clarke county, Wash., was killed May 25 by being thrown from a wagon. Jacob Wickland, 11 years old, of Echo valley, Stevens county, Wash., was dragged to death by a pony on May 31. The silver commission which convened at Berlin in February has concluded its labors without arriving at any decision. M. L. Andrews, auditor of the Cudaby Packing Company, was drowned while bathing in the Platte river at Omaha Sunday. The entire business portion of the town of Pleasantville, Ia., has burned. Loss $75,000. The fire was of incendiary origin. Nels P. Swanberg and his daughter were drowned at Skagit City, Wash., last Friday. Swanberg's body has not been recovered. Sila, Young, Rigler and Brown, the train robbers recently captured at El Reno, I. T., broke jail Sunday night at Pond Creek. The Lane county bank at Eugene which suspended about a year ago, opened its doors for business Wednesday morning. Senator Morgan has presented an amendment to the tariff bill, directed against the formation of trusts in imported articles. The trial of Father Dominick O'Grady, the Catholic priest who murdered Mary Kilmartin at Cincinnati, has been postponed until July. Congressman Charles H. Grosvenor, republican, was on Monday renominated by acclamation by the Eleventh Ohio district convention. The prince of Wales held a levee Monday at St. James for the queen. The officers of the United States cruiser Chicago were presented. By a change in the rules of the Chicago board of trade proprietors of regular warehouses are prohibited from merchandising in grain. Timber along the Mesaba & Northern Pacific railroads in Minnesota and Wisconsin is burning, and much valuable pine will be destroyed. The English combination of coalowners has decided to make a general reduction of 10 per cent in wages. The miners are organizing to resist it. Enormous damage was done to crops along Walnut river, Kansas, Sunday, by a heavy rain and hail storm. All the bottom lands are submerged. Congressman McCann, of Illinois, is not a candidate for re-election. He will take charge of the Twenty-second street electric car line in Chicago. The bill to appropriate $200,000 for the Atlanta exposition, was favorably re ported to the house Monday from the committee on appropriations. Isaac Kemp, a negro, who murdered Deputy Sheriff Ed Carver at Westover Va., Thursday, was on Friday taken from jail by 400 men and shot to death. The Troy laundry building in Portland burned Wednesday morning, and four chinamen perished in the flames. The fire was caused by an exploson of gas Fire destroyed the agricultural implement warehouses of Buford & George and the Keystone Implement Company at Kansas City Sunday. The loss is $300, 000. Daisy Estes, a girl 21 years old, was SO badly burned by the explosion of a lamp in Portland, Saturday night, that ampu tation of her lower limbs may be neces sary. Eugene Parsons, the 14-year-old son o Mrs. John Lyndon, had three teeth pulled by Dentist King, at Los Gatos, Cal. Mon day after inhaling chloroform. The boy died. A riot occured at McKeesport, Pa. Wednesday, in which 35 men were in jured, two of whom have died. The trouble grew out of a strike at the tub works. While on the lake near Vermillion Ohio, Sunday, a boat containing five per sons was upset and Amos Larkins, Mil dred Larkins and Bessie Ainsworth were drowned. Ramon Coronel, a prospector who ha


Article from The Dalles Times-Mountaineer, November 23, 1895

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name of "John Smith, Chehalis." In the afternoon he bought a bottle of morphine at Woodard, Clark & Co's. drug store, stating that he wanted it for a friend. He went to his room at 7 o'clock Friday, and nothing more was seen of him until the proprietor of the hotel opened his room about 4 o'clock Saturday afternoon. He was found to have been dead for several hours. Mr. Humphrey helped form the first bank organized in Eugene, the Lane County Bank, in 1882, and was its cashier from that date until the bank suspended some eighteen months ago. Since then he has been engaged in different business enterprises, and the past summer has been engaged in shipping fruit east. Failing health is the only cause known for taking his life.