18447. Farmers & Merchants Bank (Paris, TX)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 23, 1897
Location
Paris, Texas (33.661, -95.556)

Metadata

Model
gpt-5-mini
Short Digest
fd9503a1c34f7dfc

Response Measures

None

Description

Multiple contemporary reports (Mar 23–24, 1897) state a run triggered by the failure of the cotton firm Martin, Wise & Fitzhugh forced the Farmers & Merchants Bank of Paris, TX to make an assignment (filed with Judge D. H. Scott) and close. Assignment/filing of deed indicates permanent suspension/insolvency (assignee named), so classified as run → suspension → closure. Bank type not explicit in articles.

Events (3)
1. March 23, 1897 Receivership
Newspaper Excerpt
filed a deed of assignment ... naming D. H. Scott as assignee. The document filed transfers to D. H. Scott all of the property of the bank ... D. H. Scott shall take possession of all of the said property ... and shall sell said real estate, stocks, bonds and other property for cash ... and shall collect all notes, accounts and evidences of debt ... and shall out of the proceeds ... pay creditors/depositors as appropriate. (article paraphrase).
Source
newspapers
2. March 23, 1897 Run
Cause
Local Shock
Cause Details
Run precipitated by the failure/assignment of the large cotton firm Martin, Wise & Fitzhugh, a major customer and debtor of the bank.
Measures
All checks presented previous day were promptly cashed; bank appealed to other local banks for assistance (appeal refused); some outside banks later provided funds to other local bank (City National).
Newspaper Excerpt
depositors became alarmed and a run begun ... the run was renewed and continued until the bank was forced to close.
Source
newspapers
3. March 23, 1897 Suspension
Cause
Local Shock
Cause Details
Forced to suspend/assign due to sustained run tied to Martin, Wise & Fitzhugh failure and the bank's exposure to that firm's indebtedness.
Newspaper Excerpt
At 10 o'clock this morning the Farmers and Merchants' Bank ... made an assignment to Judge D. H. Scott. ... the bank was forced to close.
Source
newspapers

Newspaper Articles (20)
1. March 23, 1897 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, March 23, 1897

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Article Text

PARIS, TEX., BANK CLOSES. Failure is Caused by the Assignment of Martin, Wise & Fitzhugh, Yesterday. St. Louis, March 23.-A special to the Post-Dispatch from Paris, Tex., says: The Farmers' & Merchants' bank closed its doors at 10 o'clock this morning. It was one of the oldest financial institutions in the state and had a paid up capital of $200,000. The failure of Martin, Wise & Fitzhugh yesterday caused a run on the bank which forced it to the wall. John Martin was president of the bank until yesterday, when he resigned. There is a decidedly panicky feeling prevailing and it is feared that runs will be made on all banks affected by the failure here and elsewhere.

2. March 23, 1897 El Paso Daily Herald El Paso, TX
Article from El Paso Daily Herald, March 23, 1897

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Article Text

Texas Bank Failure. PARIS, Texas, March 23.-Farmers and Me chan's bank of this city, suspended this morn ng. The failure was caused by the suspension yes erday of Martin, Wise & Fitzhugn, coston buyers. The assets and liabilities are not given. A big run is in progress at the City Bank. A line of waiting depositors exends into the street. Excitementruns high. The capital stock of the Farmers and Merchants bank was $200,000; surplus, $55,007; deposits, $250,000; loans and discounts, $200,000. It's wonderful how much health has to do with married happiness. S.ckness affects the temper. You can't be happy nor make others happy if you're ailiug. When you find yourself irritable, easily worried, beginning to "rundown" it's because your blood is getting poor. You n-ed richer blood and more of it. Your blood-making orgaos need to be vitalized by Dr. Pierce's Golden Medical Di-covery. It imparts new power to produce ao abundance of of the healthy, red corpuseles, and gives you a fresh supply of pure, rich blood. It's a blood-creator: it is for everyone whose blood IS impure or in a poor, "run-down" condition. It prevents the germs of disease from getring a bold on y' ursystem. Even after diser IS settled on you, it is driven out by the blood-creating properties of the 'Discovery." It is a perfect cure for general and nervous debility, catarrh, malaria, eczema, ery-ipelas, rotula and every form of b ood-diseise. It isn't called a consumption ure, but even con-umption, which has its roots in the bood-is driven out by the "Golden Medical Discovery" if taken in t me. The "Discovery" is the prescription of one of the most eminent phy-icians and me lical writers in this country.

3. March 24, 1897 New-York Tribune New York, NY
Article from New-York Tribune, March 24, 1897

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Article Text

A TEXAS BANK FORCED TO SUSPEND. THE FARMERS AND MERCHANTS' OF PARIS CARRIED DOWN BY THE FAILURE OF MARTIN, WISE & FITZHUGH. Paris, Tex., March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest and thought to be the strongest financial institution in North Texas, with a paid up capital of $200,000 and a surplus of $60,000. made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, the depositors became alarmed. and a run begun. All checks presented yesterday were promptly cashed. The bank officials foresaw that If the run was kept up the bank would be forced to wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morring the run was renewed and continued until the bank was forced to close. This set people wild, and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building. and it became necessary for the police to clear the sidewalks. At 11 o'clock Colonel George F. Hicks. vicepresident of the First National Bank, walked in and laid $100,000 on the City National's counter, and told the people to come forward and get their money. This was followed by the announcement that the bank woul remain open until 6 o'clock to pay depositors. Thus the fears of some were allayed. but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns which are involved in the failure of Martin, Wise & Fitzhugh.

4. March 24, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 24, 1897

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Article Text

Business Troubles. PARIS, Tex., March 23.-The Farmers' and Merchants' bank closed its doors at 10 o'clock this morning. It was one of the oldest financial Institutions in the state, and had a paid-up capital of $200,000. The failure of Martin, Wise & Fitzhugh yesterday caused a run on the bank which forced it to the wall. John Martin was president until yesterday, when he resigned. There is a decidedly panicky feeling. It is feared that runs will be made on all the banks here.

5. March 24, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, March 24, 1897

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Article Text

A BIG TEXAS BANK FAILS ONE OF THE OLDEST INSTITU. TIONS IN THE STATE. A Run on Another Bank--Ail Brought About by Failure of Martin, Wise and Fitzhugh. St. Louis, March 23.-A special from Paris, Texas, says: The Farmers and Merchants bank closed its doors at ten o'clock this morning. It was one of the oldest financial institutions in the State and had a paid up capital of $200,000. The failure of Martin, Wise and Fitzhugh yesterday caused a run on the bank which forced it to the wall. John Martin was president of the bank until yesterday when he resigned. When the bank closed its doors the report flew over the city like wild fire. People became panic stricken. A rush was made for the city national bank, which was a large creditor of Martin, Wise and Fitzhugh, and began to withdraw their deposits. An excited crowd gathered in front of the building and along the sidewalks the length of the block. It became necessary for the police to clear a passage. All expected the doors to close every moment. At 11 o'clock Col. George F. Hicks, vice-president of the First National walked into: the City National with $100,000 and told the depositors to come on and get their money. The officials of the City National announce that it would remain open until six o'clock to pay deposits. This quieted the fears of some, but a great many continued to draw out their money. It is difficult to predict the end. $1,000,000 FAILURE. Paris, Texas, March 23.-Martin. Wise and Fitzhugh, cotton buyers with offices at New Orleans, Galveston, Houston, Dallas, New York, Liverpool and Havre, made individual deeds of trust here yesterday afternoon, this being the firm's headquarters. Preferred creditors, $90,000. Liabilities, $1,000,000. No official statement yet made.

6. March 24, 1897 The Morning News Savannah, GA
Article from The Morning News, March 24, 1897

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BANK SCARE IN TEXAS. One Institution's Failure Starts a Run on Another. Paris, Tex., March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest and thought to be the strongest financial institutions in North Texas, with a paid up capital of $200,000, and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money and depositors became alarmed and a. run begun. All checks presented yesterday were promptly cashed. The bank officials forsaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building and it became necessary for the police to clear the sidewalks. At 11 o'clock, Col. George F. Hicks, vice president of the First National Bank, walked in and laid $100,000 on the City National's counter and told the people to come forward and get their money. This was follwed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.

7. March 24, 1897 The Copper Country Evening News Calumet, MI
Article from The Copper Country Evening News, March 24, 1897

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Article Text

Texas Bank Closed. Paris, Tex., March 24.-The Farmers' and Merchants' bank closed its doors Tuesday. It was one of the oldest financial institutions in the state and had a paid up capital of $200,000. The fallure of Martin, Wise & Fitzhugh caused a run on the bank which forced it to the wall.

8. March 24, 1897 Wheeling Register Wheeling, WV
Article from Wheeling Register, March 24, 1897

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CREATED A PANIC. The Failure of a Bank in a Texas Town Starts a Heavy Run on Other Institutions. Paris, Texas, March 23.-The Farmers' and Merchants' Bank closed its doors at 10 o'clock this morning. It was one of the oldest financial institutions in the State and had a paid-up capital of $200,000. The failure of Martin, Wise and Fitzhugh yesterday, caused a run on the bank which forced it to the wall. John Martin was president of the bank until yesterday, when he resigned. When the Farmers' and Merchants' bank closed its doors, the news flew over the city like wild-fire. People became panic-stricken. A rush was made for the City National bank, which was a large creditor of Martin, Wise & Fitzhugh. and began to withdraw their deposits. An excited crowd gathered in front of the building and along the side-walks the length of the block. It became necessary for the police to clear a passage. Everybody expected the doors to close at every moment. At 11 o'clock Col. George F. Hicks, vice president of the First National, walked into the City National with $100,000 and told the depositors to "come on and get their money." The officials of the City National announced that it would remain open until 6 o'clock to pay deposits. This quieted the fears of some. but a great many continued to draw out their money. It is difficult to predict the end.

9. March 24, 1897 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, March 24, 1897

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Article Text

A Texas Bank Succumbs. Paris, Tex., March 24.--The Farmers' and Merchants' bank closed its doors yesterday. It was one of the oldest financial institutions in the state, and had a paid up capital of $200.000. The failure of Martin, Wise & Fitzhugh caused a. run on the bank, which forced it to the wall. John Martin was president of the bank until Monday, when he resigned. There was a run on the City National bank by frightened depositors, but all claims were paid.

10. March 24, 1897 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, March 24, 1897

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TEXAS BANK SCARE. A Hitherto Strong Institution Forced to the Wall. Paris, Texas, March 23.-At 10 o'clock this morning the Farmers' and Merchants' Bank, one of the oldest and thought to be strongest financial institutions in North Texas, with a paid. up capital of $200,000 and a surplus of $60,000, Scott. made an assignment to Judge D. H. This action was precipitated by the failure of the cotton frm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money. Depositors became alarmed and a run began All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced"to the wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morning the run was renewed and continued un. til the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building and it became necessary for the police to clear the sidewalks. At 11 o'clock Col. George F Hicks, vice president of the First National Bank, walked in and laid $100,000 on the City National's counter and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.

11. March 24, 1897 The Times Richmond, VA
Article from The Times, March 24, 1897

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BUSINESS TROUBLES. Building and Loan Officers Short-Bank Failures, CHICAGO, ILL., March 23.-A bill for a receiver for the Christopher Columbus Building and Loan Association was filed in the Superior Court yesterday by the president of the association, who charges that David B. Sachsel, secretary, and Karl Kronenberger, treasurer, are short in their accounts to the amount of $35,000. The bill states that Sachsel admitted that he had appropriated $10,000 of the funds. Judge Ball appointed Arthur Nollan receiver of the association. The liabilities are stated to be $113,500, and assets $7,500. Police officers were sent to guard the offices to-day to prevent a threatened breaking open of the safe and conhscation of the property. Mrs. Sachsel says her husband is in Indiana and will return. WEST POINT, GA., March 23.-The West Point State Bank closed its doors yesterday. It was supposed to be a branch of the State Savings Bank of Atlanta, and since the failure of that institution it has been weakened from lack of patronage. W. C. Hale, who was connected with the State Savings Bank, being the vicepresident of the West Point State Bank, caused a heavy run upon the bank here soon after the failure of the State Savings Bank, and it has been in a shaky condition since. The West Point State Bank had a capital of $25,000, and the nominal assets amounted to about the same. PARIS, TEX., March 23.-At 1 o'clock this morning the Farmers' and Merchants' Bank, one of the oldest, and thought to be the strongest of the financial institutions in North Texas, with a paid-up capital of $200,000, and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cottom firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, depositors became alarmed, and a run begun. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild, and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building. and it became cessary for the police to clear the sidewalks. At 11 o'clock Colonel George E. Hicks, vice-president of the First National Bank, walked in and laid $100,000 on the City National's counter, and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin Wise & Fitzhugh.

12. March 24, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, March 24, 1897

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"HOORAY FOR M'KINLEY." BIG TEXAS BANK IS FORCED TO THE WALL. Action Precipitated by the Failure of a Cotton Firm, and a Run by Depositors as the Result. Paris, Tex., March 23.-This morning the Farmers' and Merchants' bank, one of the oldest and thought to be the strongest financial institution in North Texas, with a paid up capital of $200,000, and a surplus of $60,000, made an assignment and closed its doors. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, but how much could not be learned, and depositors became alarmed and a run began. All checks presented vesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall and appealed to the other local banks for assistance, but were refused. When the doors opened this morning the run was renewed and kept up until it was forced to close. There was also a run on the City National bank, which lasted for several hours, but ,depositors were promptly paid. Assistance was received from other points, and tonight it is thought the heavy withdrawals will not seriously affect the bank. It is believed the Farmers' and Merchants' bank has ample assets to pay all liabilities and will reorganize on a reliable basis.

13. March 24, 1897 The Times Washington, DC
Article from The Times, March 24, 1897

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A NORTH TEXAS BANK FAILS. Farmers and Merchants' of Paris Forced to the Wall. Paris, Texas, March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest and thought to be the strongest financial institution in north Texas, with a paid-up capital of $200,000 and a surplus of $60,000, made an assignment to Judge D.H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, depositors became alarmed and a run begun. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made but refused. When the doors opened this morning the run was renewed and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building and it became necessary for the police to clear the sidewalks. At 11 o'clock Col. George F. Hicks, vice president of the First National Bank, walked in and laid $100,000 on the City National's counter and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many contined to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.

14. March 24, 1897 The Evening Herald Shenandoah, PA
Article from The Evening Herald, March 24, 1897

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A Texas Bank Succumbs. Paris, Tex., March 24.-The Farmers' and Merchants' bank closed its doors yesterday. It was one of the oldest financial institutions in the state, and had a paid up capital of $200,000. The failure of Martin, Wise & Fitzhugh caused a run on the bank, which forced it to the wall. John Martin was president of the bank until Monday, when he resigned. There was a run on the City National bank by frightened depositors, but all claims were paid.

15. March 24, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, March 24, 1897

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F. AND M. BANK OF PARIS. Run on It Forced the House to Assign. DEPOSITORS TO BE PAID IN FULL. Assignee Says the Assets will Be Sufficient The City National Stood a Run Easily. Paris, Texas, March 23.-This has been a "black Friday" for this thriving city and it has passed the severest crisis in its history. For the first time a bank has closed its doors and suspended payment. The old Farmers' and Merchants' bank. that has been the depository at one time or another of all the business men of Paris, that has pulled many of them out of the hole and enabled them to continue busi. ness, filed a deed of assignment in the county clerk's office at 10:10 this morning, naming D. H. Scott as assignee. When the failure of Martin, Wise & Fitzbugh was announced yesterday some of the depositors in the Farmers' and Merchants' bank, who knew that Mr. Martin was its president and that the bank was heavily involved, began to draw out their money. This morning the bank opened as usual and the demands of depositors for their money began. The directors had evidently prepared for the contingency last night, and at a few minutes before 10 o'clock the doors werd closed and the deed was filed immediately afterwards. A small crowd gathered about the closed door and peered through the plate glass with the idle curiosity that the human race as a whole exhibits on such occasions. A few of them were depositors, but most of them had nothing to lose. The document filed transfers to D. H. d Scott all of the property of the bank, real, personal and mixed, of whatsoever nature. kind or description, consisting of real estate, money. stocks and bonds, notes. accounts. evidences of indebtedness, and, in fact, all property of whatsoever kind or description which the bank may own for the following purposes: D. H. Scott shall take possession of all of the said property of said bank. consistn ing of real estate, money, stocks and bonds notes, accounts and evidences of debt and to shall sell said real estate, stocks, bonds and other property for cash at public or private sale as he may deem best and shal collect all notes. accounts and evidences of debt and shall out of the proceeds of such sales and collections and money or hand

16. March 24, 1897 New-York Tribune New York, NY
Article from New-York Tribune, March 24, 1897

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THE NEWS THIS MORNING. FOREIGN.-Admiral Canevaro issued a proclamation enjoining the Cretan insurgents and Greek troops not to attack a number of Turkish forts on the island. A strong remonstrance to the Porte has been made by the British Ambassador at Constantinople on account of the An elaborate slaughter of 100 Armenians. parade took place in Berlin in connection with The Governthe centenary of William I. ment in Canada is reported to be preparing a tariff bill as an offset to the Dingley measure. The Lincolnshire Handicap. in which Pierre Lorillard's Diakka was a starter, was won by Winkfield's Pride. CONGRESS.-Both branches is session. Senate: Criticism of the Civil Service law and the methods of administering it was made by a House: Debate on the number of Senators. Tariff bill was continued. the principal speeches being made by Messrs. Dolliver, Gibson, Lacey and Newlands for the measure, and Messrs. Dockery, McLaurin and Swanson in opposition. DOMESTIC.-The New-York Assembly passed the Greater New-York charter by a vote of 118 The New-York Court of Appeals to 28. decided that the Rapid Transit acts are constiMany railroad associations and committees tutional. in the West are almost certain to be disrupted in consequence of the Supreme Court's decision. More than twenty people were killed and as least 200 injured by Monday's The tornado in Georgia and Alabama. Farmers and Merchants' Bank of Paris, Tex., was forced to suspend by the failure of the cotton firm of Martin, Wise & Fitzhugh. Three men were fatally injured by an explosion of gas in a mine near Shenandoah, Penn. The two houses of the Kentucky Legislature voted separately for United States Senator, and made no choice. CITY.-Railroad men discussed the effect of the Supreme Court decision in the case of The the Transmissouri Freight Association. New-York Library Club protested against The the proposed tax on books and art. committee of the whole Board of Aldermen adopted the tunnel plan of the Rapid Transit Commission. The New-York Athletic Club won the amateur hockey championship of the United States. Nelson M. Weeks, the Hackensack Sunday-school superintendent. surrendered to Coroner Dobbs, and confessed that he took Aimée Smith to the Hotel Victor, where she Stocks were weak and lower. died. THE WEATHER.-Forecast for to-day: Rain, clearing in the afternoon: colder. The temperature yesterday: Highest, 60 degrees; lowest, 48; average, 551/4.

17. March 24, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, March 24, 1897

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BANK TROUBLE IN TEXAS. Runs on Paris Institutions-Mártin, Wise & Fitzhugh Failure. PARIS, TEX., March 23.-At 10 o'clock this morning the Farmers' and Merchants' Bank, one of the oldest and, it has been thought, one of the strongest of the financial institutions in North Texas, with a paid-up capital of $200,000 and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank nfoney, depositors became alarmed, and a run began. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up the institution would be forced to the wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild, and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building, and it became necessary for the police to clear the sidewalks. At 11 o'clock Colonel George F. Hicks, vice-president of the First National Bank, walked in and laid $100,000 on the City National's counter, and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.

18. March 24, 1897 The Sun New York, NY
Article from The Sun, March 24, 1897

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PUT $100,000 DOWN. A Texas Bank Official's Effort To Stop a Run on the Institution. PARIS, Tex., March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest banking institutions in North Tomas, with & paid-up capital of $200,000 aud a surplus of $50,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. Depositors became alarmed and a run began. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made but refused. When the doors opened this morning the run was renewed and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise and Fitzhugh. A great crowd gathered in front of the building. and it became necessary for the police to clear the sidewalks. At 11 o'clock Col. George F. Hicks, Vice-President of the First National Bank, walked in and placed $100,000 on the City National's counter, and told the people to eome forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allay ed the fears of some, but many continued to withdraw their money.

19. March 26, 1897 The Bryan Daily Eagle Bryan, TX
Article from The Bryan Daily Eagle, March 26, 1897

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The Panicky Feeling Is Over, PARIS, Tex., March 25.-The panicky feeling that has pervaded Paris for the last two days, owing to the heavy failures of Martin, Wise & Fitzhugh, the Farmers and Merchants bank, the Paris Electric Light company suits and the assignment of John T. Dickson, has about passed away entirely. Business has resumed its normal condition and no more failures are anticipated.

20. March 30, 1897 Hopkinsville Kentuckian Hopkinsville, KY
Article from Hopkinsville Kentuckian, March 30, 1897

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The Farmers' and Merchants' Bank of Paris, Tex., failed Tuesday and precipitated a panic and run on the City National Bank, which withstood it to the closing hour.