19172. Bank of Anacortes (Anacortes, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 18, 1893
Location
Anacortes, Washington (48.513, -122.613)

Metadata

Model
gpt-5-mini
Short Digest
b7a4f58f87ee19db

Response Measures

None

Description

Multiple contemporaneous newspapers (July 17–19, 1893) report the Bank of Anacortes failed to open its doors / was compelled to suspend due to inability to realize on securities; depositors were to be paid in full. Later (1894) court records identify a receiver for the Bank of Anacortes, indicating the suspension led to receivership/closure. No clear reporting of a depositor run triggered the suspension.

Events (2)
1. July 18, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was unable to realize on its securities, forcing it to suspend and fail to open for business.
Newspaper Excerpt
The Bank of Anacortes failed to open its doors today, owing to inability to realize on its securities. Liabilities, $29,000; assets, $78,000. Depositors will be paid in full.
Source
newspapers
2. November 3, 1894 Receivership
Newspaper Excerpt
John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.
Source
newspapers

Newspaper Articles (11)
1. July 18, 1893 The Evening World New York, NY
Article from The Evening World, July 18, 1893

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Various Bus ness Troubles. The Bank of Anancortes. Wash.. failed to open its doors yesterday. Liabilities $21.000 assets, $78. 000. Deto itors will be paid in full. At a meeting of the creditors o' F. A. Brown I Co..furnituremanuianturers.al Boston yesterday. it was deci ed that Mr. own pay 25 per cent. on an indehtednes of $28.000. Phelps & Lembard. leather dealers. of 75 High street, Boston. owe about * 200, 500. which includes 133. 750 10 otes indorsed by Richardson & Dennie. who procured their discount Lappen Company's stock was sold at sherifi's sale al West Superior. Wis.. yesterday for $12,000 to 11. B. Booth. George K. Schofiel'. of Indianapol's for many years n dealer in horses. mules and buggies. mad an assign meat yesterlay for the benefit of cred t. ord. Assets. 860. 000: liabilities. 40,000. Conrad Betzer. or forniture dealer, of Lima. O m ade an a signment yesterday. In conner tion with the Douglas County Bank failure. President George W. Lumley. of Pierre, was Arrested jesie lay also Directors S. 11. Lichter. James A. Wilson and K. M. Poster, of Armour. N. : As a result of the recent The n'on Bank failure Nancy M., W. N. and John D. Niewa son. er. tensive farmers and stock raisers. 01 She yvl e. III., assigned to W. E. Malker. Liabilities. $30,000 assets, $25,000.

2. July 18, 1893 The Herald Los Angeles, CA
Article from The Herald, July 18, 1893

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THE FINANCIAL TIDAL WAVE, Six Kansas Banks Go Down In the Flurry. Several More Kansas City Banks Forced to Close. Savings Institutions of Denver Begin to Collapse-A Georgia Bank Suspends-A Pacific Coast Failure. By the Associated Press. TOPEKA, Kan., July 17.-Six Kansas banks went down in the financial flurry today. They are: The bank of Ritter & Doubleday of Columbue; the Johnson City bank of Johnson City; the Bank of Wier City; the bank of Pleasanton; the Caney Valley bank of Caney, and the Bank of Meade at Meade Center. It is impossible to obtain a statement tonight. The banks have been taken possession of by the state bank commissioner. KANSAS CITY BANK FAILURES. KANSAS CITY, July 17.-The Grand Avenue bank, a private institution, suspended this morning. Assets, $290,000; liabilities, $140,000. It is expected to resume shortly. It is not doubted among bankers that it will pay dollar for dollar. The comptroller of currency took pos. session of the Missouri National bank at noon. It has a paid up capital of $250,000. According to a statement to the comptroller Saturday, it had cash and sight exchange amounting to $271,000; deposits, $900,763, A later statement by the officers shows that the agsets are $1,254,000; liabilities, $700,000. Assistance was on the way from the east, but did not arrive in time, as the depositors were making heavy drafts on the bank. The officers declare the depositore will be paid in full. There was no well-defined run on any of the other national banks, although some deposits were drawn out. DENVER BANKS CLOSED. DENVER, July 17.-The People's Savings bank, the Rocky Mountain Dime and Dollar and the Colorado Savings banks did not open their doors this morning. The assets of the People's are $1,500,000; liabilities, $1,350,000. President Lawrence says the failure will in no way affect the People's National bank. The Colorado Savings bank's statement ehowe: Deposite, $486,000; with 1 aesets, $730,949 in excess of liabilities. 1 The assets of the Rocky Mountain Dime t and Dollar Savings band are $156.803; liabilities, 105,654. The officers of all three say the debte will be paid in full. It is understood that all the assignments were preconcerted for T self-protectson and the protection of the V depositors. President Lawrence of the t People's says the bank had about com1 pleted arrangements for temporary relief from eastern banks, but the doings of the silver convention here caused them to withdraw all aid and the bank o had no other recourse but to assign. f A GEORGIA BANK CLOSED, ( ATLANTA, Ga., July 17.-The First Na. tional bank of Cedartown, Ga., capital $75,000, closed today. The suepension was caused by inability to realize on 1 collaterals. The bank will resume as a state bank soon. A PACIFIC COAST FAILURE. ANACORTES, Wash., July 17.-The Bank of Anacortes failed to open its ( doors today, owing to inability to real1 ize on its securities. Liabilities, $29,i 000; assets, $78,000. Depositora will be t paid in full.

3. July 18, 1893 Capital Journal Salem, OR
Article from Capital Journal, July 18, 1893

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PACIFIC COAST NEWS. HANFRANCISCO, July telegram received here states that the steamer Emily was wrecked and is a total used loss at Coos Bay. This steamer was to carry passengers and freight between San Francisco and Coce Bay. BAN FRANCISCO, July 18.-The will of Senator Stanford was admitted to probate by Judge Coffey. The widow will-serve as executrix without bonds, as provided for inthe last will and testament of Senator Stanford. SAN FRANCISCO, July 18.-An important discovery regarding the comet has bees made at the Liek observatory. Photographic plates reveal the fact that the celestial visitant has: companion. The second comet is enyeloped in the tail of the first one, and shows dimly in the plate, though perfectly distinct Its as a nebulous-like condepsation n. tail also merges into that of the other. Director Holden and astronomers are It much elated over the discovery. was revealed by the photograph of the comet taken Thursday night by Professor Hureey, and CADDOT be seen through in the telescope. It appears to move an the same orbit as the main one, or orbit exactly parallel, and at the same rate of speed. BAKER City, July 18.-A fabulously rich bed of gold discovered. It was found at the bottom of a 350 foot shaft in the Virtue mine near this city, The water was all pnmped out, and aD al. most solid streak of gold eight inebes wide was revealed. Two miners took out two sacks of ore worth $10,000. One specimen weighing eight pounds, CODtains $800. d F. W. Gallin was hanged at Canyon City Friday afternoon at 2:40. He im plored forgiveness of the whole world in and he fell while uttering a prayer German. No confession was made OD the gallows but be made a statement e the day before, confessing the crime. He said Mrs. Shaw beat her busband the head with a hammer after be e on had killed him, and assisted in disposing of the body. He stated that Shaw and his wife were quarreling and he d was brought in, and that Shaw drew a pistol and threatened to kill the with pair when he hit Shaw on the head the hammer, killing him instantly. Gallin was pronounced dead in ten D minutes and forty seconds. SAN FRANCISCO, July 18.-A curious y came up in the United States eircase cuit court of appeals from the state of to t Washington. The question was as I the title to 100 bales of hope in controvbetween the Merehant's Exchange p ersy bank of Milwaukee and John H.Me of Graw, now chief executive of the state on of of Washington. The case came up e an appeal from the United States eiris e cuit court. The point involved of whether or not the transfer of a bill of unlading can transfer special property til after the indorsement and deliverery of the bill. Plaintiff is error claims that in December, 1890, it obtained title to the goods by virtue of an agreement draft to guarantee the payment of & s paid by the First National bank of Se b attle. The bank relied on the guaranty, not on the bill of lading, and the ques- Miltion now is whether the bank in waukee can be said to have title prior to the time it obtained possession of the bill of lading. The case was argued by Chas. H. Fishback and Chas. R. Shepd herd, both of Seattle. a ANACORTES, Wash., July 18.-The y bank of Anacortes failed to open o doors but instead posted a notice saying that on account of the financial situation and its failure to realize on securi- Liaties it was compelled to suspend. bilitiesare $29,300; assets conservatively placed at $77,897. Depositors have d every assurance of being paid dollar for dollar. The bank of Anacortes was the oldest in the city, having been established by John M. Platt. SAN FRANCISCO, July 18.-A syndicate of Portland and New York capitalists are negotiating for the purchase of 50,000 acres of timber land in the neighof Medford, Oregon, belonging Pacific borhood to the Southern railroad. price It is understood that the purchase is to be $500,000 The railroad has made the figure of $10 an acre, but the syndicate to secure a lower C.H. Leadbetter, figure. is endeavoring acting acre for has offered $7.50 per t but has go the syndicate, Mr. Huntington refused to inbelow $10. W. H. Mills, acting on structions from New York, left for if Portland on business connected with the proposed sale.

4. July 19, 1893 The Providence News Providence, RI
Article from The Providence News, July 19, 1893

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Other Business Troubles. The bank of Anancortes, Wash., failed to open its doors yesterday. Liabilities, $21,000; assets, $73,000. Depositors will be paid in full. At a meeting of the creditors of F. A. Brown & Co., furniture manufacturers, of Boston, it was decided that Mr. Brown pay 25 per cent. on an indebtedness of $23,000. Phelps & Lombard, leather dealers, of 75 High street, Boston, owe about $200,000, which includes $133,750 in notes endorsed by Richardson & Dennie, who procured their discount. George D. Schofield, of Indianapolis, for many years a dealer in horses, mules and buggies, made an assignment yesterday for the benefit of creditors. Assets, $30,000; liabilities, $40,000. Conrad Betzer, jr., furniture dealer, of Lima, O., made an assignment yesterday. As a result of the recent Thornton bank failure Nancy M., W. M. and John D. Stewardson, extensive farmers and stock raisers, of Shelbyville, Ind., assigned to W. E. Walker. Liabilities, $80,000; assets, $25,000.

5. July 19, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 19, 1893

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eastern Kansas. It had a capital stock of $300,000 fully paid in, and has always stood all runs. A run on the People's Savings Bank was started, but the thirty day law was taken advantage of, and the bank was saved from being swamped. Topeka, Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the fail. ures of the Citizens' Bank of Kansas City, Kan.; of the Bank of Richmond, and of the Farmers' and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion Is expressed that other institutions throughout the State will soon go under. Toledo, July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ablfield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. Anacortes, Wash.. July 18.-The Bank of Anacortes failed to open its doors yesterday, owing to inability to realize on securities. The liabilities are $29,000 and the assets, $78,000. Depositors will be paid in full. Kansas City, July 18.-Although last night the bankers of Kansas City did not expect to get through to-day without trouble. none came: and the impresston prevails that to-day marked the beginning of the end of the recent financial flurry. There is evidence to-day that the people have stopped to think. It is a notable fact that no man who had money in the bank of Kansas City or the Missouri National has the slightest doubt of getting every cent of it. The banks in Kansas City which have failed are the National Bank of Kansas City. the Missouri National Bank. the Kansas City Safe Deposit and Savings Bank. and the Bank of Grand Avenue, the latter being a State bank. Armourdale, Kan July 18.-The Citizens' Bank sugpended payment to day with assets of $151.000 and liabilities of $126,500. State Bank Commissioner Breiden that took possession of the bank. Among the heavy creditors of the bank is the county of Wyandotto, which had on deposit some $40,000 of its funds.

6. July 20, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 20, 1893

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to the bank in person to draw their money. The excitement and demand upon for money continued unabated almost until banks about 2 o'clock, when it subsided at all Nationol and entirely the State German banks depositors except National, where a line of diminseemed to increase instead of have This bank is understood to Kanish. special train on the way from will a City bearing $490,000, and The sas reach here early tomorrow. received First National a little bank after o'clock $170,000 today, and $250,000 more from at the closing hour. This came PresiYork. It was money due At 3 New Moffat for bullion he sold. hour, there were a dozen people in any o'clock, ly dent half closing above. of D. hard- the H. institutions except the Moffat, president of the First National, stated that deposits at his witdrawals useduring the greatly exceeded bank has always been managed conservatively This day and Moffatt. the was most almost exclussvely owned by The general opinion among bankers is men is that the panic and no more banks will to over although a run in a and close, business mild be obliged or three way continue against two believed banks may for a day or two. It is will refinanciers that today's run confiby the people having more in the strong banks, today will at once dence sult withdrawn in and money be estab- redeposited, and better feeling which lished in financial circles, The suswill make money easier. busipended banks expect to resume The conin a short time. deposine-s on banks by scared is about the 0 by the bankers that no the stated tors stantdrain brought crisis from less It than $8,000,000 had been drawn months. banks during the last three to the Of this $3,000,000 have gone but in regular line of business in the East are $5,000,000 hoarded ful! there Safety deposit vaults are the city. is reason to suppose and of ;workingmen contain hidin which their savings are places homes there secret was If one-fifth of that_amount in den. letinto circulation the stringency Denver would cease. ANOTHER DENVER BANK. Mercantile bank, a private of $100,- institution The with a capital stock The failclosed its doors at noon. of the 000, caused by the failure which it Union ure was National bank through cleared. DRY GOODS COMPANY FAILED. McFamara Dry Goods company of The of the largest institutions failed one the morning. kind in Liabilities, the city $270,000. this not known. The failure served was on brought Assets on by attachment by house at 1 o'clock this morning failed the National bank which for its doors this to open and the Colorado latter $71,780, the Union morning. National the for $20,847.74. The president of bank had a private claim for the $25,000, Denand D. Sheedy, an one officer for $40,000. in The ver National, was not unexpected, but easier it had failure hoped money would be been the firm be able to pull through. and Stringency and in the money market secure to place securities or from the of three savings extension inability closing banks, banks aided Had yes- the by the was the direct cause. been terday banks which closed yesterday which to able to secure cash with the failit over the "hard spots" Nearly carry would not have occurred. ure entire amount falls on the Denver the banks and commercial houses. e THREE MORE FIRMS. & Cohn proprieters of the & Hyman Hive shoe store, McWhirter Bee dealers in mantles and have tiles, Dipps. Engle & Harris, dry goods, available assigned. and No statements but amounts not large. FORT SCOTT BANK FORT SCOTT, Kas., July 18.-The failed National bank of this city First for business this morning, of de to open to steady withdrawal and inability to more than three owing posits Assets are collect lose times assets. noth- liaand depositors will e First National was and in 1871 and was the bilities. lished ing. The Southeastern oldest estabnational bank in S It had a Kansas. run on the Peoples $300,000 largest A capital stock 30 Sav- day of bank was started but the and the ings was taken advantage of swamped. bank law thus saved from being THREE KANSAS BANKS July 18.-State Bank Ex- reTOPEKA. Breidentbal this morning the ceived aminer notice of the failure of Kans., Bank of Kansas City, of the Citizens Bank of Richmond and of Osof Farmers' the and Merch ints' bank did small sawatomie. The concerns all business. Statements unobtainable. 0 BANK OF ANACORTES. ANACORTES. Wash. July 18.-The to of Anacortes failed to open assets day. Bank Liabilities are $29,000, $78,090. Rumor Not Credited. Lula 10 The

7. July 20, 1893 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, July 20, 1893

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FINANCIAL TROUBLES. KANSAS CITY, Mo., July 17.-The Bank of Grand Avenue and the Missouri National Bank have suspended payment at noon to-day. DENVER, CoL., July 17.-The Peoples Savings, the Rocky Mountain Dime and Dollar, and the Colorado Savings Banks failed to open their doors for business this morning. The assets of the People's Savings Bank are $1,500,000; $1,350,000. President Lawrence of the Peoples' National Bank says the failure of the savings institution in no way affect the People's National Bank. DENVER, CoL., July 18.-The Union National Bank, of which R.W. Woodbury is president. failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on the City National, German National, First National, Colorado National and all the Clearing House banks. The panic is on. The Commercial National Bank has closed its doors. A notice says: "This bank has gone into liquidation, by order of the board of directors." The National Bank of Commerce has closed its doors. Ex-Governor Job A. Cooper is president of this bank. ANACORTES, Wash., July 18.-The Bank of Anacortes failed to open its doors, yes. terday, owing to inability to realize on securities. Liabilities, $29,000; assets, $78,000. Depositors will be paid in full. INDIANAPOLIS, IND., July 18.-George K. Schofield, for many years a dealer in horses, mules and buggies, made an as signment yesterday, for the benefit of creditors. The assets are estimated at $30,000 and the liabilities at $40,000. LIMA, O., July 18.-Conrad Betzer, Jr., furniture dealer, made an assignment yes terday. It is thought the assets will largely exceed the liabilities. SHELBYVILLE, ILL., July 18.-As a result of the recent Thornton bank failure Nancy M., W. N., and John D. Steward son, extensive farmers and stock raisers S have assigned to W. E. Walker. Liabili ties, about $30,000; assets, $25,000. FORT ScoTT, KAS., July 18.-The First National Bank of this city, the oldes financial institution in Southeastern Kan sas, has suspended payment. TOLEDO, OHIO. July 18.-The Citizen Bank of Ada, the most prominent one in Hardin county, failed to open its door this morning. Its owner, Peter Ahlfeld f has controlled it for over a quarter of century, and is one of the wealthiest mei of that section. No statement of assets and liabilities or the cause of the failure can be obtained. CINCINNATI, O., July 18.-Mrs. Mary S Anna Kauffmann, widow and executri of the late John Kauffmann, made a per sonal assignment late last evening. Lia d bilities $100,000; assets much greater. Sh owns a large portion of the Kauffman: brewery, which went into assignment las Friday. DENVER, CoL., July 18.-The McNamar e Dry Goods Company, one of the larges houses in the west, was closed on attach f ment this morning. They will probably make a general assignment. n DENVER, Col., July 19.-The following notice was posted on the doors of the Stat National Bank, this morning: e "This bank will not be opened for busi ness this morning. Depositors will be pai in full." At the hour of opening for bankin business crowds had assembled at the dif ferent banks, but there did not appear t be the same excitemedt among the de positors as existed yesterday. n STILL ANOTHER-EXCITEMENT INCREASING. e The doors of the German National Ban were not opened for business at 10 o'cloc this morning. No notice has been poste on the doors, but it is believed that it ha suspended payment. e The excitement is rapidly increasing an runs are threatened on other banks. FAILED WITH $40,000 COUNTY FUNDS. ARMOUR, KAN., July 19.-The Citizen Bank suspended payment, yesterday, wit assets of $151,500, and liabilities o $126,500. State Bank Commissione Breidenthal took possession of th h bank. Among the heavy creditors of th bank is the county of Wyandotte, whic had on deposit some $40,000 of its funds. ANOTHER KANSAS BANK FAILURE. WASHINGTON. D. C., July 19.-The Com) troller of currency has been advised the the Hutchinson National Bank, Hutchir son, Kansas, closed its doors to busines this morning.

8. July 21, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, July 21, 1893

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The Bank of Anacortes Fails. ANACORTES, Wash., July 19.-The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.

9. November 7, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 7, 1893

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JOHN M. PLATT DISCHARGED. No Intention on His Part to Defraud the City of Anacortes. ANACORTES, Nov. 6.-(Special.j--The case of the state against ex-City Treasurer Piatt, charged with larceny by embezzlement of funds belonging to the city of Anacortes, came up today in continuation of the examination begun early in September. The evidence showed a shortage of $7,583.29, and defendant's counsel admitted that the ex-treasurer had failed to turn over this amount to his successor, but argued that as the amount was to the credit of the treasurer in the suspended Bank of Anacortes there had been no intent on Platt's part to defraud the city. Justice Beard took this view of the case, and the ex-treasurer was discharged.

10. November 15, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, November 15, 1893

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FROM WASHINGTON STATE. Ex-Treasurer Platt of Anacortes Not an Embezzler. TACOMA, Wash., Nov. 14.-Congressman Doolittle, who has arrived home, says be has the assurance of the House Committee on Interstate and Foreign Commerce that his resolution providing for a joint commission to visit Nicaragua and report on the advisability of extending Government aid to the Nicaragua canal will be favorably reported on early in the regular session of Congress. Doolittle thinks the commission will visit Nicaragua during the intermission of Congress. At Anacortes the case of the State against ex-City Treasurer Platt, charged with the embezziement of funds belonging to that city, has been dismissed. The amount of the shortage was $7583 29, but it was shown that, the money was to the credit of Platt's successor in the suspended bank of Anacortes.

11. November 3, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 3, 1894

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To Set Aside a Tax Deed. J. T. Hunt yesterday began an action in the superior court to have a tax deed to jo. 6, block 13, Central addition, set aside. The property was sold July 18, 1891, to cover a delinquency of $2.67, H. C. Colver being the purchaser, and November 12 Adolph Krug, then city treasurer, executed a deed. Hunt claims that no notice was ever given him of these proceedings and that the action of the city treasurer was in excess of his authority. Colver claims that all charges and costs up to date do not exceed $23.90, which sum he has repeatedly tendered, but it has been refused. J. E. Boyer, Clarence M. Austin and John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.