19440. Merchants National Bank (Tacoma, WA)

View Charter #3172 on SPMC

Bank Information

Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
national
Bank ID
3172
Charter Number
3172
Start Date
May 31, 1893
Location
Tacoma, Washington (47.253, -122.444)

Metadata

Model
gpt-5-mini
Short Digest
4de51a5d64964f9f

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Full suspension, Books examined

Receivership Details

Depositor recovery rate
17.8%
Date receivership started
1893-06-23
Date receivership terminated
1897-09-10
OCC cause of failure
Losses
Share of assets assessed as good
36.0%
Share of assets assessed as doubtful
55.2%
Share of assets assessed as worthless
8.8%

Description

Contemporary reports describe an extended run (which lasted thirty days), a temporary suspension at the beginning of June 1893 precipitated by a large withdrawal/demand by the Chase National (correspondent) and continued depletion, clearing-house assistance attempted, followed by appointment of a federal receiver (Robert Wingate) and liquidation/indictments for fraud. Thus a run led to suspension and eventual closure/receivership. OCR errors in some articles (e.g., Merchants' vs Merchant's) were corrected.

Events (6)
1. May 2, 1884 Chartered
Source
historical_nic
2. May 31, 1893 Run
Cause
Correspondent
Cause Details
Large withdrawal/demand by Chase National (correspondent) which further depleted resources; run on the bank lasted about thirty days per reports.
Measures
Tacoma clearing house provided funds to meet withdrawals initially; bank examiner looked into affairs.
Newspaper Excerpt
the Chase National bank of New York drew out a large amount of deposit, which still further depleted the bank's resources and was the immediate cause of the failure.
Source
newspapers
3. June 1, 1893 Suspension
Cause
Correspondent
Cause Details
Suspension followed heavy withdrawals and the correspondent (Chase National) refusing/appropriating remittances and refusing payment of checks, precipitating the suspension.
Newspaper Excerpt
the directors of the Merchants' National bank announced a temporary suspension, owing to the run which lasted thirty days
Source
newspapers
4. June 16, 1893 Other
Newspaper Excerpt
directors ... submitted to the depositors a plan of liquidation ... depositors shall receive 20 per cent of their claim in cash within ninety days ... balance to be paid in four equal dividends ... secured by transfer to trustee of all the assets of the bank
Source
newspapers
5. June 23, 1893 Receivership
Source
historical_nic
6. June 23, 1893 Receivership
Newspaper Excerpt
Comptroller Eckels has appointed Robert Wingate receiver of the Merchants' National Bank of Tacoma, Wash.
Source
newspapers

Newspaper Articles (22)
1. June 2, 1893 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, June 2, 1893

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IN THE INTEREST OF OMAHA Efforts Being Made to Have Granite Used in the Federal Building. REASONS FOR DESIRING THIS MATERIAL No Other Stone Can Be Used with Advantage as a Result of the Severe Climate-Senator Manderson at Work. WASHINGTON BUREAU OF THE BEE, 513 FOURTEENTH STREET, WASHINGTON. D. C., June 1. Senator Manderson arrived in Washington today. He is here to contend for a granite construction according to the original proposals for the new public building at Omaha. The senator said that Supervising Architect O'Rourke had said to him before his departure for Nebraska that there was no intention to order new proposals. The senator will see Secretary Carlisle tomorrow and inform him that the proposition to construct the building of sandstone, Bedford limestone or other material than granite will be a pure waste of money for the reason that the lighter materials of construction will not stand the climate of Nebraska, however popular they may be in the east and south. The senator said that Mr. O'Rourke's letter to him recently stated that a granite construction would exceed the appropriation at least $50,000. "If that is so," said the senator, "we will try and get the extra $50,000. which 1 think we can do without serious trouble." Senator Manderson is in earnest in this matter and there is no doubt that he will make things decidedly lively for those who have been attempting to alter the plans and readvertise for bids. Vifquain's Final Instructions. General Victor Vifquain of Lincoln, who was recently appointed consul general to Columbia, arrived here today from New York. General Vifquain at once called upon Secretary Gresham and received his final instructions. The general returned to New York this evening and will sail from that city for Panama, his post of duty, on Monday. To Reform the Public Service. The joint commission from the house and senate, which was appointed by the last congress to investigate and suggest methods for reforming the public service in the departments. has appointed a committee of three, to whom the work will be delegated. Two of the appointees are officers of the Atchison, Topeka & Santa Ferailroad, President J. E. Rinehart being one and E. W. Sells of Chicago another. The third commissioner IS Charles W. Haskins of New York. The commission will meet Monday to begin its labors in a room of the Treasury department. Western Pensions. The following pensions granted are reported: Nebraska: Original-Arthur Belding, Daniel W. Ellis, Henry Fuhrer. IncreaseSeth J. Arnett. Original widows, etc.Melinda Suggs. Magdalina Fuhrer. Iowa: Original-Daniel Fogal. Increase -Edwin A. Norton, Eze Flower, Robert Wempler. Reissue-John Chess, Harrison Clinkenbeard, William H. Wilson. Reissue and increase-John McLaughlin. Original, widows-Meribah Fowler. South Dakota: Increase-Joseph W. Barton. Washing ton Bank Failure. Comptroller Eckels received information after closing the department this evening of the failure of the Merchants National bank of Tacoma, Wash. A week ago the bank was regarded to be snaky and the examiner began looking into its affairs. He reported that the clearing house had come to the rescue with sufficient money to meet the run and expressed the opinion that it would tide over. Later the Chase National bank of New York drew out a large amount of deposit, which still further depleted the bank's resources and was the immediate cause of the failure. Personal Mention. At Wilcox, Kearney county. Neb., L. J. Wohlgemuth was appointed postmaster, vice

2. June 3, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 3, 1893

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DID NOT WANT IT. No Use for a Bank in the West. AND IN A BOOM TOWN, TOO. Officers of the Chase National Are Somewhat Severe Upon the Collapsed Tacoma Concern. Special to THE MORNING CALL. NEW YORK, June 2.-In regard to the closing of the Merchants' National Bank at Tacoma, Wash., President Cannon of the Chase National Bank says: "It is not true, as stated, the bank was closed on our account. That statement is doubtless given out as an excuse. We are in no sense responsible for the failure and made no telegraphic demand on them. "The only connection we had with them was that of making them advances, for which we received ample collateral security. About one week ago they made drafts on us covering an increase of the amount we had advanced them. This was done without consulting us as to our willingness to increase the loan and we naturally refused to honor the draft. "We saw no reason to carry a bank so far West for so large an amount as they wanted. I suppose when they found their drafts and bills thrown out here they failed to raise the money needed to take them up, and were forced to suspend. Our action was perfectly proper, and the causes of the failure can in no sense be laid at our doors. Like most Western banks in a rapidly growing and 80-called boom town the bank was doubtless loaded up with local paper, more than it could carry in a tight market." TACOMA, Wash., June 2.-The uneasiness that prevailed in financial affairs during the past few days has disappeared. All the banks report more or less gain in deposits. The crowd has withdrawn from the street and everything has resumed a normal condition. Bank Examiner Clary took charge of the suspended Merchants' National Bank this morning pending the action of the Comptroller. No statement of the bank's affairs has vet been made. Nelson Bennett, president of the Merchants' National Bank, which suspended yesterday, in reply to the statement of President Cannon of the Chase National Bank of New York, that his bank was in no way responsible for the suspension of the Merchants' National Bank and that no demand was made for a settlement, states "that under date of May 31 the Chase National Bank wired a peremptory demand for a settlement." Bennett further says: "The Chase National Bank had been our correspondent for years and had recently advanced about $80,000 on a specific loan, covered with ample security as per contract. For some unaccountable reason the Chase National Bank people have seen fit to appropriate each and every remittance we made them since May 24 on the loan account and refused payment of our checks without even notice to us of their intention to our I desire to that the propriate Chase National funds. say misapBank by this discourteous treatment, which, if legal, is legal robbery, precipitated the disaster, and that we had provided ample funds to have carried on our business had their demand not been made at this inopportune time."

3. June 3, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, June 3, 1893

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THE MERCHAN N TS BANK. Contradieting the Statement of the President of the Chase National. TACOMA, Wash., June 2.-Nelson Bennet, president of the suspended Merebants National bank, in reply to the statement of President Cannon of the Chase National Bank of New York that his bank was in no way responsible for the suspension of the Mercautile, saye: "The Chase National of New York had been our correspondent for years and bad recently advanced about $80,000 on 14 specific loan covered by ample security as per contract. For some unaccountable reason the Chase National people have seen fit to ap. propriate each and every remittance we have made them since May 24th on the loan account and refused payment of our checks without even notice to us of their intention to misappropriate our funds. I desire to say that the Chase National by this dis. courteous treatment, which If legal is legal robbery, did precipitate the dis. aster."

4. June 4, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 4, 1893

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DAY ASSIGNS. The President of the Milwaukee Bank Wrecked Financially. MILWAUKEE. June 3.-Frederick T. Day president of the Plankington ban. this afternoon made a voluntary assik, ment to Willium H. Momsen, cashier of the band. Mr. Day's nominal assets are placed at $600,000, and his liabilities at $500,000. So far the examination of his assets has been only cursory, but it is believed that enough can be realized from his assets to meet all his debts. In doing this, however, his large private fortune will be utterly wrecked. Reckless banking methods were the cause of Mr. Day's failure. There was nothing new in banking circles here today other than a slight increase in the run on the Commercial bank. The run is without sensational features, and is due to the feeling of distrust engendered by the Lappen and Plandington bank failures. The people who are taking their money out are small depositors. Amoug business men the Commercial bank is considered sound, owing to the known conservatism of its officers. GLADSTONE, Mich., June 3.-The Exchange bank has made an assignment for the benefit of its creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton bank, of Milwaukee, and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made. JOLIET, III., June 3.-Sanger, Moody & Steele, stone quarrymen, assigned Liabilities, $54,330; assets, nominally $177,000, of which $85,000 is an old goverment debt, which they probably can never realize anything from. WASHINGTON, June 3.-Comptroller Eckels has instructed Bank Examiner Geary to take charge ot the failed Merchants' National Bank of Tacoma, Wash. CHICAGO, June 3.-The Grant Locomotive works IS being pressed by its creditors, and in order to provide ready .cash, has called a meeting of stockholders. The trouble was precipitated recent prevented by the the strike company from of machinists, making which deliveries on its contracts, and thus securing ready money. The establishment is solvent and the assets greatly exceed the liabilities. NEW YORK, June 3.-The steamship Campana, which sailed for Europe this morning, carried $1,000,000 gold coin and the steamship Paris had on board $500,000 gold coin and $828,172 of silver.

5. June 7, 1893 The Enterprise Wellington, OH
Article from The Enterprise, June 7, 1893

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# NEWS OF THE WEEK. Gathered from All Quarters. # DOMESTIC. AT St. Louis, Mo., on the 31st ult., it was stated that an amicable agreement had been reached in the difficulty existing for nearly four years between Liggett and Myers, tobacco manufacturers, and the Knights of Labor. PURCELL THOMAS, an Γ¦ronaut of national reputation, while making an umbrella descent from the top of the parade house at Buffalo, N. Y., on the 31st ult., lost control of the parachute and fell a distance of fifty feet, sustaining fatal injuries. Ar a meeting of the creditors of ex-Secretary Foster, at Fostoria, O., on the 31st ult., it was decided to accept 50 per cent. in payment of claims, leaving it with Mr. Foster entirely as to whether or not he should pay more in the future if he became financially able to do so. # THE Sixty-seventh annual meeting of the Home Missionary Society of the United States commenced at Saratoga Springs, N. Y., on the 31st. The reports showed total receipts for the past year $738,081, an increase over the previous year of $75,292. The society workers number 2,002, ministering to 3,841 congregations and missionary fields. New schools to the number of 265 have been organized. One hundred and forty new churches have been established. Gen. O. O. Howard was re-elected president; Rev. W. H. Holman, recording secretary; George S. Coe, auditor. A STOCK train on the Chicago, Milwaukee & St. Paul road was wrecked near Sioux City, Ia., on the 31st ult. Five persons were injured, one fatally. A half dozen cars were demolished and considerable stock killed. A DISPATCH was received at the state department from Minister Baker, dated Massaya, June 1, stating that peace is restored at Nicaragua and the new government went into operation on that day. # THE furnaces of the Rock Hill Coal and Iron Company at Rock Hill, Pa., were closed down indefinitely on the 31st ult., owing to a strike of the employes, who demanded the reinstatement of several discharged leaders of the local labor union. The company refused to accede to the demands of the men. Ат Tacoma, Wash., on the 1st the directors of the Merchants' National bank announced a temporary suspension, owing to the run which lasted thirty days and the failure of the bank to realize on its assets # THE steamship Fuerst Bismark, which sailed from New York on the 1st for Europe, carried $2,750,000 gold and $182,800 silver. P. F. FLEURY, manager of the Waukesha Mineral Springs Company, was fatally shot by burglars at Chicago on the 1st. On the 1st Dean Bros.' bank at Ava, Ill., was robbed between 12 and 1 o'clock at noon of about $3,000. There was no clew as to who committed the robbery. Runners were sent out in all directions. NEAR Haddam, Washington county, Kan., on the 1st, S. C. Kerns shot and instantly killed W. R. Combs. They were interfering with a fist fight which was in progress between two farmers and began quareling themselves. Kerns drew a revolver from his boot and placing it at Combs' breast sent a bullet through his heart. FULL blooded Chickasaw Indians have held indignation meetings and forwarded protests to President Cleveland against letting the treasurer of the Chickasaws distribute the big strip money. They are afraid of being cheated. NEAR Los Angeles, Cal., on the 1st, a regular freight train was run into and badly wrecked by a special freight. George R. Shatte, a prominent capitalist, was instantly killed. A number of other passengers were badly cut and bruised. GEORGE M. VAN LEVEN, JR., has been held to the United States grand jury at Dubuque, Ia., in $2,000 bonds on the charge of illegally receiving money for securing a pension. D N. MORGAN, of Connecticut, the new United States treasurer, took the oath of office on the 1st and entered upon the discharge of his duties, relieving E. H. Nebecker, of Indiana. The committee appointed to count the money in the treasury immediately assumed charge and began the count. It will take six weeks to complete it. AT St. Louis, Mo., on the 1st representatives of several wholesale houses in that city returned from a conference recently held at Pittsburgh, Pa., and stated that another trust to be known as the American Flint Bottle Company is about to be formed with a capital of $1,000,000. # THE Hope rice mill at New Orleans, La., was totally destroyed by fire on 2d, entailing a loss of $100,000; partially insured. AT Nashville, Tenn., the high court of impeachment on the 2d found Judge Julius J. Dubose, of the Shelby county criminal court, guilty of two charges in the articles of impeachment preferred. # THE street car strike at Fort Wayne, Ind., was declared off on the 2d. The motormen and conductors were granted the advance in wages which they demanded. BUSINESS failures occurring during the seven days ending June 2, numbered for the United States 238 and for Canada 21, total 259, against 207 for the corresponding week of last year. # THE failure to raise $6,500,000 on the Cherokee strip bonds has caused a commercial crisis in the Indian territory. J. W. Stahler & Son, at Tahlequah, the principal traders on the strip

6. June 10, 1893 The Cape Girardeau Democrat Cape Girardeau, MO
Article from The Cape Girardeau Democrat, June 10, 1893

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OJEFFERSON DAVIS' remains were reirterred in Holly wood cemetery at Richmond, Va. THE prohibitionists of Iowa in state convention at Des Moines made nominations as follows: For governor, B.O. Aylesworth. of Des Moines: lieutenant governor. J. C. Reed, of Delta: superintendent of public instruction. Miss Belle H. Mix. of Danvillet supreme judge. .1. A. Harvey; of Polk City: railroad commissioner; E. H. Gillette of Des Moines. The resolutions favor woman suffrage, declare the liquor 4 issue the paramount one, and denounce Sunday opening of the world's fair. By a cave-in at the Ivanhoe tunnel hear Leadville, Col., three men were killed, two others fatally and one seriously injured. 1 IN Cineinnati the Victoria Cordage company failed for $400,000. THE oldest banking institution in Tacoma, Wash., the Merchants' national bank. has suspended payment temporarily with $900,000 liabilities and $1,000,000 assets. A CYCLONE wrecked many houses near Forest City. Ark., and Mrs. Thomas. a widow, and her 13-year-old daughter were instantly killed. THE doors of the Plankinton bank of Milwaukee were closed with liabilities of $1,100,000. Continued withdrawal of deposits was given as the cause. FIRE destroyed the Home brewery and rice mill at New Orleans, causing a loss of $250,000. Thirty horses perished in the flames. FRED SARGENT shot and killed his wife at Battle Creek, Neb., and then fatally wounded himself. IN collision with the steamer Corsica in Lake Huron an unknown schooner was sunk and all on board perished. IN Chicago a new counterfeit two-dollar treasury note has made its appearance. It is described as imitating the series of 1891 and as bearing the check letter "B." and the counterfeit signatures of W. S. Rosecrans, register, and E. H. Nebeker, treasurer. IN a fit of jealousy W. G. Morrow shot and killed Effic Baker at Greenville, Miss., and then fatally shot himself. AT Springfield, O., Martin Petritus fatally shot Mrs. Frank Wiethom because she would not leave her husband for him and then shot himself. THE doors of Potter's bank. the oldest bank in Paulding county. and heretofore considered one of the safest, were closed at Paulding. O. A CYCLONE spread death and destruetion near Cotton Plant. Ark. The plantation of John Gazallo was left without a house of any kind standing. The width of the cyclone was about 1 1/2 miles. FIRE swept away the plant of the American Strawboard company at Lima. O., causing a loss of $300,000. A WASHOUT wrecked a mail train near Ridgeway, S. C., and the engineer and fireman were killed.

7. June 17, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 17, 1893

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Everett News. EVERETT. June 16. - -[Special.) 1 The office of assistant general manager of the Everett Land Company has recently been created, and Emory 8. Lyon has been appointed to the position with headquarters in Chicago, the purpose being to promote the interests of this city during the World's fair. At the school election this week Oscar Rea was re-elected director and c. H. Boynton was elected clerk. At the election of the fire department the following officers were chosen: President, James Hambly: secretary. F. J. Wimperly: treasurer. Thomas Maney. Rucker Bros. have the large new warehouse about enclosed on their dock. Chief Engineer Montandon is enlarging the water supply at Lowell for the Everett water works. More springs are being tapped. The Fountain Iron Works, Detroit, have prepared for shipment a triple expansion marine engine for the new whaleback steamer Everett, under construction at the works of the Pacific Steel Barge Company. in this city. Ten cars will be required to transport the machinery to this city. Merchant's National Bank Liquidation. TACOMA, June 16.-[Special.]-The directors of the suspended Merchants' National bank have submitted to the depositors a plan of liquidation, which provides for the assignment of claims against the bank to a trustee, say Nelson Bennett. In exchange for such assignment it is proposed that depositors shall receive 20 per cent. of their claim in cash within ninety days. balance to be paid in four equal dividends of not less than 30 per cent. each. payable as rapidly as an amount sufficient to make such distribution can be collected from remaining assets, with interest at the rate of 8 per cent. per annum until paid. These will be secured by a transfer to the trustee of all the assets of the bank. together with the equity of the stockholders therein so transferred to the trustee.

8. June 24, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 24, 1893

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Other Bank Suspensions. WASHINGTON, NJune 23.-Controller Eckels has been officially informed of the fallure, yesterday, of the following national banks: The First National Bank of Kendallville, Ind.; the First National Bank of Santa Ana. Cal.; the First National Bank of Whatcom, Wash. He has ordered Bank Examiner Cleary to take charge of the Whatcomb Bank, and Bank Examiner Packard to take charge of the Kendallville bank temporarily. He has appointed Robert Wingate receiver of the Merchants' National Bank of Tacoma, Wash. NIAGARA FALLS, N. Y., June 23.-The Cataract Bank, of this city. the largest bank in Niagara county. closed its doors at noon. Its deposits amount to over $700,000. Cashier Rankin says the assets are far in excess of liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted atother banks they were refused. President Porter is confident-that the bank will resume. He does not think a receiver will be necessary. NEW WHATCOM. Wash., June 23.-The First National Bank has closed its doors. The cashier states that depositors will be paid in full.

9. June 24, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, June 24, 1893

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A Receiver at Tacoma WASHINGTON, June 23.-Comptroller Eckles to-day appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash.

10. June 24, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 24, 1893

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Bank Receiver Appointed. WASHINGTON, June 23.- Comptroller Eckles today appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash.

11. August 23, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 23, 1893

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National Bank Bills Always Good. Auburn Argus. The other day the writer had occasion to pay a party in Tacoma some money, and among the bills was one issued by the Merchants' National bank, of Tacoma, which has gone into the hands of a receiver. We said to the party: "Here is a bill issued by the defunct national; I suppose you do not want it." "Certainly I do," the party replied. "and would take ten thousand of them if it were possible to get hold of them." How many of our readers who have been reading and hearing about so many national bank failures have taken the trouble to examine their bills to see if there was a single one on any of the suspended banks? We venture that no one has done so, for the reason that he knows his bill is good whether the bank fails or not. Uncle Sam IS back of all the national bank money, and not a man who has a bill on a "busted" national bank loses an hour's sleep over it. So much for wise legislation.

12. August 25, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 25, 1893

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# Dr. Calhoun Starts a Peanut Stand. Executive Commissioner Calhoun's Report. Since the last meeting of the commission I have permitted the sale of orange cider in the state building for a consideration of 10 per cent. of the gross sales. Commissioners Jackson and Huelsonkamp, of Florida, who have the cider concession on the fair grounds, offered to furnish us cider at 50 per cent. of the gross sales. Twenty-five per cent. has to be paid to the World's fair officials. That will leave 25 per cent. for the commission, out of which all expenses will have to be paid. Feeling that the state of Washington was scarcely prepared to go into the peanut and cider business, I handed the concession over to John R. Reavis, of Spokane (who has been on duty with us for some time without salary), and he has already paid us about $300 as a result of this arrangement. Of this sum I have forwarded $250 to the receiver of the Merchants National bank of Tacoma to be applied on a note made by Dr. N. G. Blalock, Henry Drum, P. W. Rochester, William N. La Follett and others. This note was given for money spent on World's fair work prior to the organization of this commission, and therefore could not legally be paid out of the appropriation." [It will be noted that this money goes to liquidate a private debt.]

13. November 14, 1893 The Herald Los Angeles, CA
Article from The Herald, November 14, 1893

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SEIZED BY THE SHERIFF. The Washington State World's Fair Building Attached. CHICAGO, Nov. 13.-The sheriff took possession of the Washington state building at the world's fair grounds today, under an attachment by the Union National bank, to enforce a claim of $1325. The Washington state commissioners had an account at the Merchante' National bank, Tacoma. They drew a check for $325 and a draft for $1000 on account, but the bank had suspended and payment was refused. The Union National of Chicago had cashed the paper and the suit was to recover the amount advanced.

14. November 14, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, November 14, 1893

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WANT THEIR MEDALS. World's Fair Exhibitors Are Raising a Big Howl. Deprived of Valuable Advertising by the Dilatory Action of the Government. WASHINGTON, Nov. 13.-There is much complaint among exhibitors over the delay in awarding the World's Fair medals. As many exhibitors expect to make the most of their medals in an advertising way, they complain that the great delay will rob them of much of the commercial advantage which they expected to reap in return for the heavy expense involved in making the World's Fair exhibit. The design by St. Gaudens for the official medals is here, but the contract for manufacturing the medals has not yet been awarded, and it is still even uncertain whether the work may not be done by the United States mint. The plan of the Treasury officials contemplates medals of elegant workmanship, which would require four or five months time, as it would necessitate stamping some of the medals 400 or 500 times. It does not seem probable that the work will be completed before next summer. The blame is laid to the committee of awards or to the designer, St. Gaudens, for not furnishing the designs earlier. CHICAGO, Nov. 13.-The Sheriff took possession of the Washington State building at the World's Fair grounds to-day, under an attachment by the Union National Bank, to enforce claims amounting to $1325. The Washington State Commissioners had an account at the Merchants' National Bank of Tacoma. They drew a check for $325 and a draft for $1000 on account, but the bank had suspended and ayment was refused. The Union National Bank of Chicago had cashed the paper, and brings suit to recover the amount advanced.

15. November 14, 1893 The Sun New York, NY
Article from The Sun, November 14, 1893

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Washington's State Building at Jac Park Attached. CHICAGO. Nov. 13.-The Sheriff took pc sion of the Washington State building a Fair grounds to-day on attachment pro ings brought by the Union National Ba enforce claims for $1,325. The State Con sioners held an account at the Merchants tional Bank. Tacoma. They drew a chec $325 and a draft for $1,000 on the accoun the bank had suspended and payment wa fused. The Union National Bank of Ch: had eashed the paper. and brings SU recover the amount advanced. Complaint was renewed to-day that th have been stealing vases and articles of Γ -brac from the Japanese exhibit. Colun guards and private watchmen are stati around the goods. but have Leen unab. catch the thieves. The offices of the National Commis Director-General. and other fair officer be removed from Jackson Park soon. Ne ations are pending for down-town quarte

16. November 21, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 21, 1893

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TACHMENT IS OFF. theriff's Notice Removed From Washington Fair Building. BLALOCK HASN'T SQUARED UP. they Have to Be Sued-Calhoun Bays Percy Rochester, Having Closed His Saloon, Is in Charge. CHICAGO, Nov. 20.-[Special.]-The sherin card was taken down off Washington's fine 1002's World's fair home today. An efficer, with a man from the National bank efChicago, came and asked to have the - dismissed from court, plaintiffs to costs of every kind. It is said the whole thing was a blunder, as the Merchants' National bank of Tacoma should here been held, and, as it now seems, they are ready to settle the claim here. The whole thing has been laughed at here by De representatives of the different states and nations who heard of the Chicago lignit's idea of settling the claim against the failed bank by attaching the state property. The POST-INTELLIGENCER special indoubtedly hurried matters up, as it was said today that the bank officials here received some telegrams which threw light on the case and they hastened to get the case out of court. An effort will be made tomorrow to have the park commission decide definitely whether they will permit the Washington state building to rem in as the home of the forestry section of the great Columbian museum. Though cars for the return of the Washlegton exhibits were ordered five days ago, sene have arrived as yet at the state buildlog. Other states are getting cars, but their agents allege that they have had to Bar a mild form of bribery among the switchmen in Jackson park, who are said to control the situation. The cierks, etc., are very obliging and the papers all straight, but the cars do not come, and the delay is most exasperating to Washingtonians, who are anxious to get home. TACOMA, Nov. 20.-[Special.]-Executive Commissioner Calhoun, of the state World's fair commission, has returned from Chicago. He left Percy Rochester in charge at Chicago, and came on for the purpose of removing the attachment on the state building secured by the Union National bank of Chicago for upwards of $1,300. Treasurer Collyer explains the matter: "In the transaction of the state's World's hir business at Chicago Mr. Calhoun was authorized by me to draw upon the treasary for $1,000. He did so, and the draft for the amount, together with other checks aggregating $1,300 or a little more, were sent on here for credit. The accounts were laid on my desk two days before the Merchants' National bank closed, but in the meantime I failed, owing to other duties, to enter the credits. After the bank closed Receiver Wingate refused to enter the credits. We finally agreed that I should write Comptroller Eckels explaining the matter. He then authorized the receiver to enter the credits, which act removed the matter from the hands of the sheriff, who had seized upon the state building." Before the old year ends, it is expected by the executive commissioner, the state commission will meet, either upon the call of majority of its members or the call of the president, and settle and close up all of inscounts. As for the disputed ownership of the state building, he says it will be turned over to the State Lumbermen's Association, according to the agreement made by it with the commission, the same aspublished in the POST-INTELLIGENCER a couple of months ago, and in which the claims of the lumbermen were for the first time fully asserted. Mr. Calhoun says the largest bid made for the building was something like $275. He supposes the lumbermen can realize much more. The lumbermen, by the way, expect to get about $3,000 out of it. One Baltimore firm offered Mr. Calhoun $400 each for four large logs in the building when they were delivered at Baltimore, but Mr. Calhoun would have to tear the building down to get them, to he abandoned all thought of a sale in that direction. A duplicate order valued at $1,500 was forwarded to the commissioners by the lumbermen. This lumber, Mr. Calhoun mys, has been entirely disposed of. Heretofore the lumbermen asserted their right to make a demand for payment for

17. January 12, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 12, 1894

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# THE TACOMA BANK FRAUDS. Not Likely That the Merchants' National Wreckers Will Be Prosecuted. TACOMA, Jan. 11.-[Special.]--Assistant United States District Attorney Robertson was asked today if the county grand jury had any jurisdiction in the matter of investigating the affairs of the Merchants' National bank. He stated that the jury would not have any jurisdiction in any matter which is covered by the national banking laws. He, however, preferred not to discuss the proposition, but to allow the county legal officials to decide what investigation should be made. As regards the transferring of property by officers of a National bank after the failure of the bank, Mr. Fogg, the legal adviser of Receiver Robert Wingate, of the Merchants' National, says there is no law preventing a man who is indebted to a National bank from disposing of his property as he sees fit until judgment has been secured against him. A large amount of property has been transferred by Walter J. Thompson and others connected with the Merchants' National since it failed. As regards the borrowing of money from the bank in excess of 10 per cent. of the capital stock, the law states plainly that it is criminal or rather unlawful, but no punishment is provided unless it is proved that such loans were made in an unlawful manner, and that the loaning was criminal. The mere fact of an officer or stockholder receiving in loans over 10 per cent. of the capital stock is said by those who have looked up the law not to be criminal per se. If, however, the loan committee of the bank consisted of, say, the president and two or more directors, and the president, without the knowledge or consent of the others, went ahead and loaned himself money, either inside or above the 10 per cent., he would be guilty of embezzlement. So say the national banking law pundits. This 10 per cent. borrowing proposition is being crefully looked into just at present, but thus far no reading of the law indicates that those who have received more than the lawful amount, in proportion to their stock, will be called to account for so doing, so far as any penalty attaches. There is no indication, either, that those who have transferred their property to escape losing it by virtue of their indebtedness to the bank will be forced to an accounting. At present the indications are that the depositors may realize about 50 cents on the dollar. The assessment called for by the receiver will be due January 27, at which time, if the same is not paid, he may proceed to bring suit and secure judgment upon any property that can be seized.

18. January 26, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 26, 1894

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The Merchants' Bank Frauds. TACOMA, Jan. 25.-(Special.|-Receiver Robert Wingate, of the Merchants' National bank, was summoned twice before the county grand jury today. He did not take his books with him the first trip, but when he returned the second time he had them. Mr. Wingate as receiver has begun suit against the South Side Land Company to foreclose 8 $25,000 mortgage. ExPresident W. J. Thompson, of the Merchants' National bank, was the principal owner of that property.

19. February 22, 1894 The Sun Morris, MN
Article from The Sun, February 22, 1894

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robbed at Briceville, Mo., by two masked men. Valuable registered packages were taken. George Walker the murderer of John Terrell, was sentenced at Pittsburg, Pa., to twelve years in the penitentlary. Charles Williams was convicted on two counts and James Robinson on a single count of violation of the Kansas liquor law. Samuel Collyer, ex-cashier of the suspended Merchants' Nation bank, Tacoma, Wash., was arrested on an indictment charging that he had received $309 the day before the bank closed. He is a son of the Rev. Robert Collyer, the noted New York divine. The Nolin-Turner feud has broken out again in Hardin county, Ky., because of the killing of two Turners by Dr. Will Nolin. The killed are Dick Nolin, his brother John, a man named Mullins, and Mrs. Skidmore, a. widow, near whose house the encounter took place.

20. February 24, 1894 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, February 24, 1894

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Criminal Doings. Harry McCreary, a negro, was lynched at Elk Valley, Tenn., for assault. Miss Anna Collins was arraigned for forgery at Lafayette, Ind., and released on $1,000 bail. E. E. Thomas was waylaid and robbed at Chatsworth, Iowa, of $315. There is no trace of his assailant. Seven prisoners, charged with varicus offenses, were whipped at New Castle, Dela., under court sentence. M. H. MacDonald and T. P. Searls resorted to firearms to settle a quarrel at Rush Springs, Kan. Both will die. Four colored burglars escaped from the London, O., jail by knocking sheriff Chenowck down ard rushing out. Four tramps are held at Elwood, Ind., suspected of assaulting a woman at Kokomo. Mrs. Taylor was assaulted and left in a critical condition by a negro who escaped, at Straightford Creek, Tenn.. Paul Loeasio, a Greek merchant at Birmingham, Ala., murdered his wife with a spade during a family quarrel. A negro named Collins was flayed alive by whitecaps at Athens, Ga. He was accused of enticing away servants. Fred H. Childs, who shot James B. Nichols dead at Clyde, N. Y., will plead insanity. Michael Dolen was murdered and his hut burned to conceal the crime near Houston, Tex. Sam Gwynne has been arrested in Unicn County, Tenn., charged with the murder of his uncle and aunt, Mr. and Mrs. Henry Snoddy. Antonio Luciano and Antonio Degidio were sentenced to be hanged May 10 at Grenfell, Man., for the murder of a companion. Samuel Collyer, ex-cashier of the suspended Merchants' Nation bank, Tacoma, Wash., was arrested on an indictment charging that he had received $309 the day before the bank closed. He is a son of the Rev. Robert Collyer, the noted New York divine. The Nolin-Turner feud has broken out again in Hardin county, Ky., because of the killing of two Turners by Dr. Will Nolin. The killed are Dick Nolin, his brother John, a man named Mullins, and Mrs. Skidmore, a widow, near whose house the encounter took place.

21. March 2, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 2, 1894

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NEWS OF TACOMA TACOMA BUREAU or Tax SENCER, 1118 PACIFIC AVENUE. THOMAS BAMMONS, MANAGER. THE BANK WRECKERS Thompson, Drum, Collyer and Davis Indicted. STRAW PAPER IN THE ASSETS. I Boom Boose 2 3 I I 1 i i I 100 I TACOMA. March - (Special)-The Federal grand jury today indicted a num. ber of the officers of the suspended Merchants' National bank on seven counts, alleging false entry and straw paper as follows: Promissory notes-Samuel Collyer to Louisia D. Collyer, September, 1892, $1,971.14 and $1,902.86 False entries False entries of promissory notes-W. R. Bradley, December 28, 1800, $3,874: William H. Adams, September 11, 1893, $13,500 and $675 interest; Henry Drum, $12,225; W. J. Thompson $1,275: W. J. Thompson, $18,000; W. J. Thompson, president, and E. W. Ferrin, secretary, Bouth Side Land Company. $25,000. The men indicted are: Ex-President Walter J. Thompson, Vice President Henry Drum, Cashier Samuel Collyer, Assistant Cashier R. J. Davis. Judge Hanford fixed their bail in the sum of $2,500 each, and it was promptly furnished, follows: : Assistant Cashier R. J. Davis-Surety, Mc D. John Allister. Cashier Samuel Collyer-Surety, Gen. J a. Bradiey Vice President Henry Dram-Sureties, Hugh C. Wallace, Ferdinand T. Mead, Charles W. Morrill. Ex-President W. J. Thompson-Su -Sureties, George O. Kelley. William H. Fire. The indictments were handed in about 2 2p. m., and before 5 p. m. the men indieted had turnished bonds and departed from the office of Clerk Ayres, of the United States court. The warrant in each instance was given to Deputy Marshal Ed Minch, but before he had a chance to notify most of the men they appeared with bondsmen and inquired the amount of the bonds. Judge Hanford having gone to Seattle before the indicted men had an opportunity to appear Clerk Ayres prepared the bonds. Before reading the indictment all the officers assured a reporter of the Tacoma bureau of the POST-INTELLIGENCER that in no case could any premeditated criminality be found in connection with the affairs of the Merchants' National. When Vice President Drum and Cashier Collyer were notified of the nature of the several counts they both intimated very strongly and emphatically that the charges were all bosh. "How about the alleged false entry of promissory notes? they were asked. Both replied that it would appear upon the face of the indictment that the paper referred to was the renewal of old notes, which Mr. Collyer said was quite proper. It is alleged in the the indictments that most of this paper, which it is charged was falsely entered. was not given for any value received, and was therefore straw paper, the indictment further alleging that such false entry of such paper being made in most instances to deceive Bank Examiner Charles Clary. The only witnesses indorsed upon the indictments as appearing before the jury were Receiver Robert Wingate, of the Merchants' National, and E. J. Cooper, who was one of the principal bookkeepers. Mr. Cooper, the indictment alleges, made the alleged false entries of the alleged straw paper, and he did so for the officers who were indicted for the purpose of willfully, fraudulently and feloniously defrauding and working injury to the bank association, which had no knowledge of their nets. By the use of the alleged straw paper for the purpose of deceiving the bank examiner. it is understood, the officers were intent upon making him believe the bank was not in a condition which the alleged straw paper made it appear. Mr. Clary for a long time kept a very close watch of the bank and examined its condition frequently. Most of the notes were to run for ninety days, and the alleged false entries consisted of entering the notes in the book known as "Bith Discounted Registered.' This was done, it is alleged, when the truth was that the notes were not purchased or discounted by the bank, and such entry was therefore false and fraudu. lent. While the bonds were being prepared the rise and fall of the Merchant's bank. and subsequently the Merchants' National bank. of Tacoms. was discussed with the Indicted officers by a representative of the POST-INTELLIGENCER This bank was the oldest in the city, and was the second national bank here. It was made a national bank, with $50,000 capital, in May, 1884 In the "boom" days, back in the old directors' room and the larger room back of it, which was used for general assembly purposes, many of the biggest and most promising schemes this city ever dreamed of were planned and fostered. Those who participated were designated at the high tide point of the boom in 1889 as the "Merchant National bank crowd. There was another crowd known as the "Tacoma National bank crowd.' The two "erowds" never mixed Many still believe the rivalry of those boom days never died out, and vanished only with the death of the fallen bank Some, indeed. hold that this rivalry killed she Merchants' National, inasmuch as the clearing house failed to help the Mer chants' National when It was troubled with the death raitle. Right here an ex planation is needed. The Tacoma clear Ing house agreed to protect the depositors of the Merchants' National. It never agreed in so many words to meet the demands of the correspondents of the fail ing bank. On the last day of last May the clearing house association agreed to prosect the depositors, and on that day Cash for Collyer said: "The run was not marked I was in the paying teller's cage during all that noon hour, and was surprised at the quiet condition of affairs believed the storm

22. March 3, 1894 The Bottineau Pioneer Bottineau, ND
Article from The Bottineau Pioneer, March 3, 1894

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robbed at Briceville, Mo., by two masked men. Valuable registered packages were taken. George Walker the murderer of John Terrell, was sentenced at Pittsburg, Pa., to twelve years in the penitentiary. Charles Williams was convicted on two counts and James Robinson on a single count of violation of the Kansas liquor law. Samuel Collyer, ex-cashier of the suspended Merchants' Nation bank, Tacoma, Wash., was arrested on an indictment charging that he had received $309 the day before the bank closed. He is a son of the Rev. Robert Collyer, the noted New York divine. The Nolin-Turner feud has broken out again in Hardin county, Ky., because of the killing of two Turners by Dr. Will Nolin. The killed are Dick Nolin, his brother John, a man named Mullins, and Mrs. Skidmore, a widow, near whose house the encounter took place.