18378. First National Bank (Portland, OR)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 1553
Charter Number: 1553
Start Date: July 29, 1893
Location: Portland, Oregon (45.523, -122.676)

Metadata

Model: gpt-5-mini
Short Digest: d19a00b0

Response Measures

Accommodated withdrawals, Full suspension

Other: Reopening after suspension; receiver appointed for other banks (Portland Savings) but not for First National in these articles.

Description

Multiple contemporaneous articles report a slight run on the First National on July 29, 1893; the bank then failed to open/suspended on July 31, 1893 (reports link this to heavy withdrawals and the suspension/closing of other Portland banks, esp. Commercial National). The bank later reopened in late August (reports give Aug 25–26). Cause classification: the run and suspension were driven by local bank failures/withdrawals (contagion/liquidity), not a discrete misinformation event.

Events (4)

1. September 8, 1865 Chartered

Source: historical_nic

2. July 29, 1893 Run

Cause: Local Banks
Cause Details: Slight run on First National on July 29 amid multiple Portland bank suspensions/withdrawals (Commercial National, Portland Savings, Ainsworth National) and general local stringency.
Measures: All demands were promptly met; sufficient cash on hand to pay out for a week (per contemporaneous reports).
Newspaper Excerpt: With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.
Source: newspapers

3. July 31, 1893 Suspension

Cause: Local Banks
Cause Details: Failed to open (temporary suspension) after heavy withdrawals and inability to realize on securities; contemporaneous reports link its suspension to the closing/suspension of other Portland banks (Commercial National) and regional stringency.
Newspaper Excerpt: The First National Bank of Portland failed to open its doors this morning. The officers of the bank say the suspension is temporary.
Source: newspapers

4. August 26, 1893 Reopening

Newspaper Excerpt: The First National bank, which suspended July 31, reopened for business today.
Source: newspapers

Newspaper Articles (19)

1. July 29, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, July 29, 1893

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TODAY'S FAILURES. One of the Oldest Firms in the Country. HAMILTON, Ohio, July 29.-McNeal & Urban, safe an 1 lock company, one ofthe oldest safe firms in the country assigned. The assets are $160,000; liabilitiesure unknown. The firm claims to be solvent. AKRON, O., July 29.-The Citizens' Savings and Loan association failed this morning. It will pay in full. The capital is $100,000 and the surplus $80,000. KANKAKEE, Ills., July 29.-The First National bank failed this moruing. The assets are sufficient to pay the depositors in full. PORTLAND, Ogn., July 29.-The Commercial National, Portland Savings bank and the Alnsworth National bank failed this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

2. July 29, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, July 29, 1893

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GOSSIP OF THE HOTELS. E. R. Hutchins, a prominent fruit man and president of several cold-storage companies in Chicago and Des Moines, is a guest at the Palace Hotel. "I have very d cided views on the necessity for the repeal of the Sherman act," said Mr. Hutchins yesterday. "Panics, like epidemics, come In series. In the great panic of 1857, during the time of wildeat banks, one was compelled to change one's money half a dozen imes in traveling from Chicago to New Orteans, to the great loss of the traveler and advantage of the broker. The panic of 1873 was due largely to the Inflation of prices, and that of 1890 could be traced to the failure of Baring Brothers in London." J. A. McMurtrie of Denver is registered at the Palace Hotel. He is an expert builder of railroads, and has the contract for building the South Pacific Coast line which will pass through Santa Barbara, Mr. McMurtrie has been located at Santa Margarita for several months past. Colonel William Christy, a well-known banker of P hoenix, Ariz., is a guest at the Grand Hotel. He reports that while there have been no serious failures in Arizona and while the banks are sound there has been nevertheless great financial depression in his section. This is largely due to the droughts of the last three years, which have caused the cattlemen of Arizona to lose over 50 per cent of their stock. H. M. Verrington, the young and popular railroad magnate of Nevada, is at the Palace Hotel. accompanied by Mrs. Yerrington. They have recently returned from a voyage to Honolulu, for health and pleasure. They will remain here for several days before returning to their home in Carson City. Evan Stolk, a wealthy merchant of Rotterdam, Holland, is making a brief sojourn at the Palace Hotel. He is accompanied by his friend and fellow-countryman, Karel Lotoy of Baltimore, Md. They have visited the World's Fair and the Yellowstone, and are now en route to the Yosemite. Two of the leading men of San Diego were in the city yesterday. T. Werthelmer was registered at the Palace Hotel and Melville Klauber was at the Lick House. Both of these gentlemen are pioneer merchants of San Diego and have assed through the vicissitudes of every land boom which bas touched their section of the State during the past (wenty years. E. B. Willis. managing editor of the Sacramento Record-Union, is a guest at the Russ House. There are four journalists in the Record-Union office, which number includes Mr. Willis, who have worked side by side burning the midnight oil in peace and harmony for the past eighteen years. This continuous state of congentality is not to be found perhaps in any other newspaper office in the country. Edward B. Jorgensen and Miss A. A. Jorgensen are register d at the Russ House from New York. For many years Mr. Jorgensen and his sister were residents of San Francisco, but removed to New York some years ago. They have large property interests here. Mr. Jorgensen expresses himself surprised at the improvemenis made in San Francisco during the last five years. J. B. Peakes and wife are registered at the Russ House from Chicago. Mr. Peakes was formerly proprietor of the well-known Peakes Hotel at Santa Cruz. He sold out his property some months ago and left for the World's Fair. William B. Wightman and wife were registered at the California Hotel for a few hours yesterday. Mr. Wightman is one of the Government's Bank Examiners and for the past month has had charge of the broken banking institutions in Southern California. Upon his arrival here yesterday he found a telegram Instructing him to go at once to Portland, Or., and take charge of the First National Bank of that city, which is financially embarrassed. Mr. and Mrs. Raphael Sonza of Guatemala, Central America, are guests at the California Hotel. They left here seven weeks ago for a tour of the Eastern States and a visit to the World's Fair. Mr. Sonza is one of the wealthfest coffee-planters in Guatemala. He speaks in glowing terms of the big exposition at Chicago, and says words are inadequate to describe the magnitude of the show. A large party of German society people from New York, composed of the Langmans, Worschdeffers and Gudewills, returned yesterday from Yosemite Valley and are registered at the California Hotel. H. H. Allen and wife of Connecticut are registered at the Occidental Hotel. They are missionaries en route to Seoul, the capital city of Korea, and will depart for the Orient on the steamer Oceanic, which starts on Tuesday next. State Senator G. G. Goucher of Fresno, accompanied by his friend, I. N. Hyde, of the same place, are guests at the Grand Hotel. They are here on legal business.

3. July 30, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, July 30, 1893

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National Bank of Eau Claire, the Bank of Eau Claire and Chippewa Valley bank at the close of banking hours had taken in more than was paid out. These banks are backed by the wealthiest men in the citv. "n't the utmost confidence is expressed in them. FORTLAND. Ure., July 29.-The Commercial National bank. the Ainsworth National and the Portland Savings banks closed today, on account of the withdrawals of deposits. The Commercial National paid out $150,000. There was a run on the First National this morning, but all demands were promptly met and sufficient cash is said to be on hand to keep paying out for a week, if necessary. The suspended institutions are all said to be solvent. At 1 p. m., the ciosing hour, the excitement had subsided, and the withdrawal of deposits at the other bank ceased, while the business houses were making their usual Saturday deposits. Between the noon hour and the closing time deposits greatly exceeded the withdrawals. D. P. Thompson was appointed receiver of the Portland savings bank this afternoon. A statement of this bank shows resources $2,955,000, which is considered a conservative estimate. The liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National bank during the same period. The Commercial National paid $100,000 yesterday. AKRON, Ohio, July 29.-The Citizens Savings and Loan Association of Akron closed its doors at 10:30 this morning. The cause given was constant drawing upon resources by drawing out of deposits. The capital stock is $100,000, with $80,000 surplus. The company was organized and incorpórated in 1872. The suspension created no surprise in Akron, KANKAKEE, III., July 29.-The First National bank, of this city, failed to open this morning. A steady withdrawal of funds and inability to realize on paper were the causes. The assets are sufficient to pay depositors in full. The bank was organized in 1801. Emory Cobb is president and H. C. Clarke cashier. HAMILTON, July 29.-The McNeale & Urban Safe & Lock company, one of the oldest safe firms in the country, has assigned to Howard Douglass, of Cincinnati. Assets, $160,000; liabilities unknown. The firm had been unfortunate in several large contracts, but it IS claimed it is solvent. WALTHAM, Mass., July 29.-All the American Waltham Watch company foremen were interviewed by President Fitch today, and given instructions as to reducing their working forces. In some cases this will be a cut down of 50 per cent, and in all there will be 1,500 hands thrown out of work indefinitely. Of the hands retained. a large number will have to work for reduced pay, 15 per cent being cut off in some instances, it is said. Letters received today from the Elgin factory report the situation even worse there than in Waltham. There will be 1.600 watchmakers discharged there on Aug. 1, and the pay roll of $120,000 a week will be reduced about one-half. There are 500,000 movements in stock there, valued at $500,000. The concern IS all right financially, having a surplus on hand of $1,000,000 of undivided profits. In the discharge of hands, SO far as possible, those will be retained who have families dependent upon them for support, and the ones discharged will be taken on again whenever the business prospects shall brighten sufficiently to warrant it. HELENA, Mont., July 29.-The Citizens' Stock Growers' National Bank of Miles City closed today. Its assets are said to be far in excess of its liabilities. Stringency of the money market is given as the cause. The First National bank of the same city has all its deposits guaranteed by a committee of business men, and it is thought will be able to keep open. MANCHESTER, N. H., July 29.-Disclosures today tend to show that Cashier Morrell knew the worst, and ran away rather than face the music. A director stated this in

4. July 30, 1893 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, July 30, 1893

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CLOSED DOORS. PORTLAND, Or., July 29-The Commercial National, Portland Savings and Ainsworth National banks failed to open this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

5. July 30, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, July 30, 1893

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THREE MORE AT PORTLAND. Financial Stringency in the Northwest Geting More Dangerous. PORTLAND, Ore., July 29.-The Commercial National Bank, Portland Savings Bank and the Ainsworth National Bank failed to open their doors this morning. With the exception of a slight run on the First National, the largest bank in the city. there 13 no excitement. The Commercial National and Portland Savings Bank are under the same management. A notice posted on each of the suspended banks says: "This bank is forced to temporarily suspend, owing to the heavy withdrawal of deposite during the last sixty days, and inability to realize on securities. Depositors will be paid in full." The Commercial National Bank had a paid up capital stock of $250,000. The Ainsworth National has a capital stock of @100,000. The statement of the Commercial National and the Ainsworth National, published July 12, shows resources as follows: Commercial, $1,950,000; Ainsworth. $687,000. Deposits-Commercial, $1,455,000; Ainsworth, $687,000. The Ainsworth National is a United States depository. No statement has yet been made of the condition of the Portland Savings Bank. It has a capital stook of $200,000, with is surplus of $202,000. At 1 P. M., the closing hour. the excitement had subsided and the withdrawal of deposits at the other banks ceased. while the business houses were making their usual Saturday deposits. Between the noon hour and the closing time deposits greatly exceeded the withdrawals. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. A statement of this bank shows resources $2,955,000, which 18 considered & conservative estimate. The liabilities are placed at $2. 475,000. During the last sixty days there has been a shrinkage of $600,000, while $80.000 has been withdrawn from the Commercial National Bank during the same period. The Commercial National Bank paid out $100,000 yesterday. Staving Off a Panic, YOUNGSTOWN, O., July 29.-Some mischievous person started a story, late yesterday afternoon. that the Dollar Savings and Trust Company was insolvent. This morning when the bank opened a crowd of depositors, mostly frightened women, wives of mill men, were at the bank to demand their money. Cashier Davis asked for the customary two weeks' notice, and not a dollar was paid out. The stockholders in the bank areamong the wealthiest citizens of the place. The bank is believed by all business men to be solvent. At noon several hundred people were crowding around the bank. At least a dozen merchants have drawn money from other banks and deposited in large amounts in the Savings bank. This 18 having the desired effect, and a panic will be prevented.

6. July 30, 1893 The Herald Los Angeles, CA

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FAILED TO OPEN DOORS. Three More Bank Failures at Portland, Ore. The Suspended Institutions Are All Solvent. Financial Disasters in Various Parts of the Country. The Action of New York Savings Bank Presidents Looked Upon With Suspicion-Bank Runs in New Jersey. By the Associated Press. PORTLAND, Ore., July 29.-Three banks failed to open doors this morning. They were the Commercial National, the Portland Savings and the Ainsworth National. With the exception of a alight run on the First National there was no excitement. A notice posted on each of the auspended banks says the banks were forced to temporarily suspend owing to heavy withdrawal of deposite during the last 60 days and inability to realize on securities. Depositors will be paid in full. The Commercial National bank has a paid-up capital stock of $250,000. Frank Dekum is president. The Port land Savings bank is under the same management. L. L. Hawkins is president of the Aineworth National, which has a capital stock of $100,000. Statements of the Commercial National and the Ainsworth National, published July 12th, show resources as follows: Commercial. $1,950,000; Ainsworth, $687,000. Deposite-Commercial, $1,455,000; Ainsworth, $447,000. D.P. Thompson was appointed receiver of the Portland savings bank this afternoon. The statement of this bank shows that its resources are estimated at $2,950,000, which is a considered conservative estimate. Its liabilities are placed at $2,475,000. During the last 60 days there has been a shrinkage of $600,000, while $800,000 has been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A small bank at Forest Grove has closed owing to the Commercial National's suspension. The statement of the Union Banking company, which closed yesterday, shows: Assets, $98,000; liabilities, $53,000. The city has a claim for $13,000, and is the principal creditor.

7. July 30, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, July 30, 1893

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whv credit should not be sound. "No nation." said Harter, "bas ever successfully carried on business under two standards. PORTLAND'S TROUBLE. Three More Banks Fail to Open Their Doors. PORTLAND, Or., July 29.-Three banks failed to open their doors this morning. They were the Commercial National, Portland Savings and Ainsworth National. With the exception of a slight run on the First National there is no excitement. A notice posted on each of the suspended banks says the banks were forced to temporarily suspend, owing to the heavy withdrawal of deposits during the last sixty days and inability to realize on seourities. Dopositors will be paid in full. The Commercial National Bank has a paid-up capital stock of $250,000. Frank Dekum is president. The Portland Savings Bank is under the same management. L. L. Hawkins is president of the Alosworth National, which has a capital stock of $100,000. The statement of the Commercial National and Ainsworth National published July 12, shows the resources as follows: Commercial, $1,950,000; Ainsworth, $687.000. Deposits Commercial, $1,450,000; Ainsworth, $447,000. The Ainsworth National is a United States depository. No statement is yet made of the condition of the Portland Savings Bank. It has a capital stock of $260.000. with a surplus of $202,000. At the closing hour the situation was quiet, all other banks having stood the run. At each of the suspended banks a police officer is stationed to prevent any disorder. Small groups of men are standing on the streets discussing the situation, but there is no sign of any violence. All the three banks which were closed to-day are considered among the strongest in the city and depositors appear to have no fear of losing a cent. It is probable that all three banks will resume in a few days. On account of it being the end of the week most of the banks paid out more than was received. The Merchants' National, where the run occurred yesterday, received deposits in excess of the money paid out. J. Lowenberg, president of the Merchants', yesterday hypothecated all his real property in the city, and is said to have secured $200,000 in cash. This restored confidence and many persons drew their money from other banks and deposited it there. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. The statement of this bank shows resources estimated at $2,950,000. which 18 considered a conservative estimate. Its liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A small bank at Forest Grove has closed owing to the Commercial National's suspension. The statement of the Union Banking Company, which closed yesterday. shows assets of $98,000 with liabilities of $53,000. The city has a claim for $13,000 and is the principal creditor. YOUNGSTOWN, Ohio, July 29.-As a.result of malicious rumors 8 run was started on the Dollar Savings and Trust Company this morning. The bank required legal notice, and not a dollar was paid out. It has wealthy stockholders. A number of merchants withdrew large sums from other banks and deposited with it, allaying the excitement. KANKAKEE, III., July 29.-The First National Bank failed this morning. The assets are sufficient to pay depositors in full. AKRON. Ohio, July 29-The Citizens' Savings and Loan Association failed this morning. It will pay in full. Capital, $100,000; surplus, $80,000. NEW WHATCOM, Wash., July 29.-This morning the following notice was posted on the doors of the Puget Sound Loan, Trust and Bank Company: "Owing to the constant withdrawals of deposits and inability to realize on securities this bank has suspended temporarily." The bank was incorporated under the State laws In 1890. with a capital stock of $125,000. The liabilities are $50,000 and the assets $200,000. WASHINGTON, July 29.-Comptroller Eckels appointed Louis C. Phelps receiver of the Merchants' National Bank of Great Falls, Mont. EAU CLAIRE, Wis., July 29.-The Commercial Bank, capital $50,000, was placed in the hands of a receiver to-day. President Allen said: "We calculate that the depositors will not lose a dollar." There were light runs on other banks. BOSTON. July 29.-A special from Manchester, N. H., says: Disclosures to-day tend to show that Cashier Morrell knew the worst and ran away rather than face the music. A director stated that in addition to the $60,000 of doubtful paper thrown out of the Derryfield Savings Bank, there is from $10,000 to $18,000 due depositors. It is now thought the deficiency in the bank mav go to $100,000. Rich Red Blood

8. July 30, 1893 The Sun New York, NY

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business men. These banks remained open after hours. PORTLAND, Ore., July 29.-The Commercial National Bank, Portland Savings Bank, and the Ainsworth National Bank failed to open their doors this morning. With the exception of a slight run on the First National Bank. the largest bank in the city, there is no excitement. The Commercial National and Portland Savings Bank are under the same management, A notice posted on each of the suspended banks says: This bank is forced to temporarily suspend owing to the heavy withdrawal of deposits during the last sixty days and inabile ity to realize on securities. Depositors will be paid in full." The Commercial National Bank had a paidup capital stock of $250,000. The Ainsworth National had n capital stock of $100,000. The statement of the Commercial National and the Ainsworth National published July 12, shows resources as follows: Commercial. $1,950.000; Ainsworth, $687,000. Deposits-Commercial, $1,455,000; Ainsworth. $447,000. The Ainsworth National is a United States depository. No statement has yet been made of the condition of the Portland Savings Bank. It has a capital stock of $260,000 with a surplus of $202,000. AKRON. O., July 29.-The Citizens' Savings and Loan Association of Akron closed its doors at 10:30 o'clock this morning. The cause given WAS constant drain upon resources by drawing out of deposits. The bank is regarded as sound. The capital stock is $100.000. with $60,000 surplus. The company was organized and incorporated in 1872. The suspension created no surprise in Akron. Edwin F. Voris has been appointed receiver. Nelson Stone. cashier of the City National Bank. said he thought the effect of the failure on Akron's financial condition had been discounted. The bank lost $300.000 in deposits last month. CHICAGO. July 20.-Stevens & Ross, who did business in a small way at 204 Fifty-fifth street. under the name of the South Park Bank. failed yesterday. When the depositors called at the bank this morning they found a card on the door which announced: This bank is closed bv order of the Court. T. Stevens. receiver." The failure is a small one and will cut no flgure in financial troubles. GRAND RAPIDS. Mich., July 29.-Local creditors yesterday were advised of the closing of the C. W. Chapin & Co. private bank at Stanton. Montealm county. owing to a rush of depositors for cash. No statement of the assets and liabilities has been given out. LOUISVILLE, July 29.-The Pineville Banking Company at Pineville, Ky., closed its doors yesterday. It was considered the best bank in southeastern Kentucky. The President will surrender all his personal property to help the bank out. FORESTVILLE, N. Y., July 29.-The examiners report that the total liabilities of Ward's Bank foot up $90,000. The assets will not exceed $20,000. MILWAUKEE, July 29.-The Savings Bank of Baraboo. Wis.. closed its doors this morning. This notice was posted: 'Failure to receive money confidentally expected. the stringency of the money market. and inability to realize on assets renders suspension of payment necessary." There are slight runs Oil other banks in the place.

9. July 30, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 30, 1893

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STILL THE BANKS GO DOWN MANY SUSPENSIONS IN THE WEST. THREE IN PORTLAND, ORE-OTHERS IN WIS CONSIN, MICHIGAN, ILLINOIS, OHIO AND KENTUCKY. Portland, Ore., July 29.-The Commercial Nation: Bank, Portland Savings Bank and the Ainswort National Bank failed to open their doors this mor: ing. With the exception of a slight run on th First National. the largest bank in the city, ther Is no excitement. The Commercial National an the Portland Savings Bank are under the same mai agement. A notice posted on each of the suspende banks says: "This bank is forced to temporarily suspend owih to the heavy withdrawal of deposits during the la sixty days and inability to realize on securities. De positors will be paid in full." The Commercial National Bank has a paid-up capita stock of $250,000. The Ainsworth National has capital stock of $100,000. The statement of th Commercial National and the Ainsworth National pul fished July 12 shows resources as follows: Con mercial, $1,950,000 : Ainsworth, $687,000; deposit Commercial. $1,455,000: Ainsworth, $447,000. The Ainsworth National is a United States de pository. No statement has yet been made of th condition of the Portland Saving Bank. It has capital stock of $260,000, with a surplus of #202 900. Milwaukee, July 29.-The Commercial Bank o Eau Claire Wis., did not open its doors this mort ing. Notices were posted that the bank was in th hands of Byron A. Buffington, as receiver. Th closing is due to the continuance of heavy withdrawal and the inability to realize on securities. The Com mercial is a popular savings bank throughout th Chippewa Valley. It has a capital of $50,000. Run were started on the National Bank of Eau Claire, th Bank of Ean Claire and the Chippewa Valley Bank but were counteracted by heavy deposits by man leading business men. These banks are remainin open after hours. Grand Rapids, Mich., July 29.-Local creditors yes terday were advised of the closing of the C. " Chapin & Co. private bank at Stanton, Montcali County, owing to a rush of depositors for their cast No statement of the assets and liabilities has bee given out. Kankakee. III.. July 29.-The First National Bank € this city failed to open Its doors this morning. notice posted on the doors states that the assets ar ample to meet all claims. The bank has a' paid " capital of $50,000 and a large surplus. It wa organized in 1871. The bank carried a large lin of customers and has been, and is still, considered 1 be all right. E. Cobb. the president of the bank, I the heaviest stockholder and is a wealthy man. It i probable that the bank will resume in a short time The Merchants' National of Chicago and the Amer can Exchange National of New-York are its goi respondents. Chicago, July 29.-Stevens & Ross, who did bus ness in a small way at No. 204 Fifty-hfth-st., unde the name of the South Park Bank, failed to-day When the depositors called at the bank this mornin they found a card on the door which announced This bank is closed by order of the court." Th failure is a small one and will cut no figure i financial circles. Covington. Ind., July 29.-The Farmers and Met chants' Bank of this city closed my yesterday. Ex United States Treasurer Nebeker is the president.

10. July 30, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, July 30, 1893

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MORE FAILURES IN PORTLAND, Three Strong Banks Suspend Payment To-Day. NO ULTIMATE LOSS FEARED The Commercial National, the Portland Savings and Ainsworth National Close Their Doors. Special to The Astorian. Portland, July 29.-Noon. Two National banks and one Savings institution failed to open their doors this morning. The Commercial National and the Portland Savings are kindred concerns, and the embarrassment of the one, naturally included the crippling of its dependant. The other National bank, the Ainsworth, was regarded as altogether out of reach of any possible panic. The Commercial National, of which Frank Dekum is president, has a paid up capital of $250,000 and a surplus and undivided profits amounting to $240,000. The Portland Savings is under the same management, L. L. Hawkins, president; its paid up capital is $225, 000; undivided profits $205,000; and deposits, about $400,000. The Ainsworth National has a capital stock of $100,000, a surplus of $100,000; resources, according to the published statement of the 12th, instant $687,000; deposits $447,000. The Commercial's deposits according to the statement made on the same day, were $1,455,000; resources $1,950,000. There was no reason for the closing of the doors of these banks except that they could not realize on their securities, which are ample even at panic selling prices to cover all liabilities. Depositors have been largely withdrawing for the past six weeks, not because of any timidity, but in order to meet legitimate demands for the discharge of indebtedness. This, owing to the scarcity of money, and impossibility of getting relief from the East has precipitated the crisis. None of the other banks were affected today. There was a slight run on the First National, but it did not amount to much, the with drawals being insignificant. All the depositors and creditors of the suspended banks will be paid in full as soon as the ample resources can be made available, and all three will probably resume business within a few days. D. P. Thompson was appointed re ceiver of the Portland Savings bank this afternoon. A. statement of this bank's condition shows resources esti mated at $2,950,000, which is considered conservative estimate; its liabilities are placed at $2,475,000. During the last sixty days there has been a shrink age of $600,000, while $800,000 have been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A. small bank at Forest Grove has closed owing to the Commercial Nat ional's suspension. A statement of the Union Banking company, which closed yesterday, shows assets of $98,000; liabilities $53, 000; the city has a claim of $13,00 and is principal creditor. At 1 p. m., the closing hour, all was quiet at the banks, the slight run having been promptly met. The Ainsworth National is a United States depository.

11. July 30, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 30, 1893

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MORE PORTLAND BANKS. T ree of Them Failed to Open Their Doors on Yesterday. PORTLAND, Or., July 29.-The Commercial National, Portland Savings bank and the Ainsworth National bank failed this morning. With the exception of a slightrun on the First National, the largest bank in the city, there was no excitement. The Commercial National and the Portland Savings are under the same management. A notice posted says the suspension is temporary and depositors will be paid in full. The Commercial has a capital of $250,000, and the Ainsworth National has a capital of $100,000. A statement published July 12 showed the Commercial National resources to be $1,950,000; deposits, $1,450,000. Ainsworth resources, $687,000; deposits, $447,000. The Ainsworth National is a United States depository. The Portland Savings has a capital of $250,000 and a surplus of $200,000. At 1 p. m., the closing hour, the excitement had subsided and the withdrawal of deposits at other banks ceased. D. P. Thompson was appointed receiver of the Portland Savings bank this afternoon. The statement of this bank shows resources, $2,955,000. Liabilities, $2,475,000.

12. August 1, 1893 The Morning News Savannah, GA

Article from The Morning News, August 1, 1893

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A Portland Bank Suspends. Portland, Ore., July 31.-The First National Bank of Portland failed to open its doors this morning. The officers of the bank say the suspension is temporary. A statement published July 12 shows the resources of the bank to be $300,000 and the deposits $1,500,000.

13. August 3, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, August 3, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.

14. August 3, 1893 The Manitowoc Pilot Manitowoc, WI

Article from The Manitowoc Pilot, August 3, 1893

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GENERAL NEWS. The western rail roads have reduced rates to Chicago to one fare for the round trip. Five men were killed by the explosion of a threshing machine boiler at Utica, Ohio, on Monday last. Bank cashiers and presidents are being arrested everywhere throughtout the United States. Courts will have busy times during the next few terms. The national government will punish the officers of the Indianapolis National Bank, which was grossly mismanaged. It seems that national bank examiners are considerable of a humbug. A man named Smith shot and killed his wife at Rhinelander on Sunday last. He then put a bullet through his own brain. The man and wife had lived apart for some time owing to his jealousy. On Monday last the New York Savings Banks experienced a run. They required the time limit, but depositors got into line to give notice that when the time was up they would demand their money. The Indians are not affected by the hard times. A gang of 500 of them who were engaged in picking blue-berries have gone on a drunk, Dancing platforms have been built and the bucks are having a high old time. It is estimated that there are 35,000 miners unemployed in Colorado. They are flocking to Chicago and are coming in on freight trains. West Superior is being invaded by hundreds of miners from the Gogebic and Menominee ranges. All dangers of war between France and Siam have been averted by the latter's yielding every demand made by France. Siam indulged the hope that some of the other European powers would come to her assistance in resisting the demands of France. Having failed in this it concluded to yield unconditionally. New York Savings Banks have taken a step which they think will aid in preventing, to a certain extent increased stringency. That is that the trustees of the banks demand notice of withdrawal by depositors. They claim that the money withdrawn is being hoarded and thus drawn out of circulation and it is difficult for this reason to dispose of securities. The First National Bank of Ashland suspended on Monday. The reason assigned is withdrawal of money by depositors. The Akron Savings Bank of Ohio, the N. M. Crane Bank of N. Y,, the Springfield Savings Bank of Missouri, the First National of Portland, Oregon, the First National Bank of Dalles, Oregon, and the Pendleton Savings Bank of the same state suspended on the same day. A right lively time prevailed at a session of the English House of Commons one day last week. Chamberlain a deserter from the ranks of the Liberals, became so abusive while delivering a speech that a free fight was precipitated. Eyes were gouged, hair was pulled and eyes were blackened, Gladstone looked on the unseemly row with an unmistakeable expression of displeasure. Wages are being reduced now to meet the depression in business. The Mil. & St. Paul road has cut the wages of its clerks 10 per cent.. At Terre Haute Ind. Pittsburg, Penn. and Columbus, Ohio the laborers have accepted the reduction, it being understood that it should last during the period of stagnation. At other points the men refuse to accept reduced wages and the factories are shutting down. Tuesday was a terrible day on the Chi cago Board of Trade. It is described as the wildest ever witnessed in that city. At the close of the day many fortunes were wiped out. The crashes came from the drop in the price of pork, which went down from $18.75 per bbl. to $10.30. It a was a fearful fall and ruined many. The wealthiest man ruined by the fall in prices was John Oudahy whose wealth was estimated at $18,000,000. He was'a bold speculator and had a heavy interest F in a number of large packing houses.

15. August 5, 1893 Arizona Weekly Citizen Tucson, AZ

Article from Arizona Weekly Citizen, August 5, 1893

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TELEGRAPHIC. Los NGELES, July 31.-Federal Judg Ross hasdelivered a lengthy decision o the Geary act case of United States V Nong Dip Ken. Ken wasarrested at the instigation of I Katz, chairman of the federated trade Ken, a oigarmaker, was arrested unde the act of 1882, now included in th Geary act, was found guilty by Commi sioner Vandke two months ago an sentenced to two days impresonment a San Quentin. Appeal was taken to the Unite States district court and today Judg Ross decided the section 4 of the Gear providing for imprisonment at har was in contravention of the con titution of the United States and a injust and infamous punishmen where no crime was committed. He held the rest of the act valid an ordered the Chinese deported an lenied the stay of execution asked fo the defense. OMAHA, Neb., July 31.-Hereafter Sat will be a holiday without pay 11 he Union Pacific shops all over th This 18 done in order not to re luce the working force. LONDON, July 31.-The regatta of th Royal Yacht club took place today of he Isle of Wight. It WGS WOD by th Prince of Wales' Brittania, Lord Dun raven's Valkyrie, second, Royal Phelps Carroll's Navahoe third. Interest at ached to the sailing of the last-name ressel as the American challenger to everal cups. NEVADA, Cal., July 31.-At 1 o'elock his morning John McLaughtin, who issaulted Charles Runge Saturda night, was surrendered by his bonds and lodged in jail. His bail was at the same time raised $10,000, owing to unfavorable symp of the injured man. Last evening some miscreants at empted to blow up the water pipe be onging to the Providence Mining comHe exploded a stick of gian owder on top of the pipe, but only suc eeded in causing a partial break Enough water continued to flow through keep a pump going until the line ould be repaired. The outrage was robably committed as a demonstration disapproval because the company ad employed McLaughlie as foreman Miners and citizensgenerally condemr act as infamous a: if the perpe is detected it will go hard with ASHLAND, Wis., July 31.-The First National bank failed owing to a steady on the deposits. The resource 15 were $396,489. Runs on other are the consequence. SPRINGFIELD, Mo., July 31. - The pringfield Savings bank failed this norning; deposits, $100,000. Is will pay full. Other banks were not affected further trouble is expected. PORTLAND, Ori., July 31.-The First National bank, of East Portland. failed open its doors this morning. Officers the bank say the suspension is tem A statement published July 12 hows the resources of the bank $325, deposits, $160,000. THE DALLES, Or,, July 31.-The First National bank here closed its doors this norning. Suspension is due to closing the Commercial National bank, of 'ortland. PENDLETON, Or. July 31.-The Pendle Saving bank has temporarily susended. R. T. Cox was appointed reThe statement of assets is 250,000; liabilitities $135,000. HORNELLSVILLE, N. Y., July 31.-R Crane & Co., private backers, failed morning; it is said assets exceed liabilities. AKRON, Ohio, July 31.-The Akron avings bank went into the bands of a eceiver this morning. Capital, $200,reserve, $50,000; surplus, $18,000 bank will pay in full. WORLD'S FAIR HOTELS. CHICAGO, July 31.-Chapman Bros ublishers and managers of two World' hotels, have confessed judgement $25,000; assets estimated at $600,000 abilities $257,000. CHICAGO, July 31.-Indications are the National Silver convention to horrow will be the most largely at ended in the history of financial agitaThe leaders are proceeding cautiously decline to express opinion as to exwhat will be the outcome. To with former adherents of all arties will be asked to forget their ormer allegiance and unite upon E of action in a struggle for free silver It is certain that R resolution and elegation sent to Washington will pprove the repeal of the Sherman law

16. August 26, 1893 The Providence News Providence, RI

Article from The Providence News, August 26, 1893

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Falling AUTO Line. PORTLAND, Or., Aug. 26.-The First National bank, which suspended July 31, reopened for business today.

17. August 26, 1893 Pawtucket Tribune Pawtucket, RI

Article from Pawtucket Tribune, August 26, 1893

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Able to Resume. PORTLAND, Or., Aug. 26.-The Frst National bank, which suspended July 81, reopened for business to-day.

18. August 26, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, August 26, 1893

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P Bank Resumes. PORTLAND, Or., Aug. 25.-The First National bank, which suspended July 31, will reopen for business tomorrow.

19. June 7, 1894 The Yellowstone Journal Miles City, MT

Article from The Yellowstone Journal, June 7, 1894

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THE FLOODS Many of the Main Streets of Poruland Under Several Feet of Water. Six Banks Have Had to Vacate their Quarters-Only One Railroad Running Trains Into the City. PORTLAND, Ore., June 5.-The waters of the Willamette river at this point continue to rise and the indications are that it will continue for several days. This afternoon the water stood 32.2 feet above low water mark. At Umatilla the Columbia river stood 44.5 feet above and at Pasco thirty-four feet above. There yet remains snow enough in the mountains to keep the rivers at their present height for several days. It is impossible to approximate the amount of damage inflicted upon this city in damage to property and loss of business. Damage to the river front alone will be nearly a million dollars. There is scarcely a wharf or warehouse that has not suffered more or less. Merchandise of all kinds is stored in many places which are in hourly danger of being submerged or tilted over into the river. Boats are continuously moving goods to more secure places. In many instances merchants have been compelled to move their goods several times to keep them above water. Wherever possible build. ings in the submerged districts are being vacated. The First National bank, the Portland National bank, the Bank of British Columbia. the London & San Francisco, the United States National and Merchants National hrve all moved to higher grounds. The railroad situation remains unchanged. The Southern Pacific is the only line running trains into the city. The Uunion Pacific is unable to establish its river service between here and Umatilla. The Northern Pacific is still bringing its trains to the city from Kelso on a transfer boat. As a means of insuring protection from tire in the flooded district the chief of the fire department had to secure a sixty foot barge, on which he has fitted a stationary engine capable of throwing three powerful streams. Water has reached the basement of the Oregonian building. While this city is confronted with disaster, adjacent points are having a similar experience. Columbia Slough presents a scene of destruction. The tops of houses and trees are seen just above the water. The lower portion of Van Couver is submerged and Troutdele is also flooded. The Hood River country will experience great loss. Its immense strawberry crop is ripening and there is no means of transportation to market. The locks at the Cascades have stood the strain so far, but there is great danger that they will be swept away.