Bank suspended July 1893 after heavy withdrawals, reopened Jan 1894, then suspended May 19, 1894 for liquidation with receiver appointed.
Events (5)
1.July 21, 1893Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals due to inability to realize readily on securities; bank illiquid though assets said ample
Newspaper Excerpt
On that date, as a result of heavy withdrawls, the bank suspended
Source
newspapers
same day
2.July 21, 1893Suspension
Cause
Bank Specific Adverse Info
Cause Details
Temporary suspension due to inability to realize on securities; receiver appointed after insolvency alleged
Newspaper Excerpt
The Traders' bank did not open its doors this morning. ... notice was posted that the bank had suspended payment. Later A. G. Foster was appointed receiver
Source
newspapers
+6 months
3.January 24, 1894Reopening
Newspaper Excerpt
The Traders' bank, suspended last August, will resume business tomorrow. ... will open its doors tomorrow morning. ... the bank will open with increased strength
Source
newspapers
+4 months
4.May 19, 1894Suspension
Cause
Voluntary Liquidation
Cause Details
Trustees and major stockholders decided to close and liquidate after deposits fell sharply; application filed to appoint receiver
Newspaper Excerpt
The Traders' bank of Tacoma suspended payment this morning and a receiver was appointed. This bank failed last summer and reopened a few months ago.
Source
newspapers
same day
5.May 19, 1894Receivership
Newspaper Excerpt
On application of two trustees the superior court today appointed Leonard Howarth receiver for the Traders bank of Tacoma. ... The bank will liquidate.
Source
newspapers
Newspaper Articles (17)
1.July 22, 1893The Seattle Post-IntelligencerSeattle, WA
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Article Text
Traders' Bank, of Tacoma, Suspends. TACOMA, July 21. - [Special.] - The Traders' bank did not open its doors this morning. Previous to the usual hour notice was posted that the bank had suspended payment. Later A. G. Foster was appointed receiver on the application of L B. Lockwood, who alleged that a check for $50 presented by him at the bank had not been paid, and that the bank was insolvent. 7 The Traders' bank has been considered one of the most reputable in the state, its trustees being Col. C. W. Griggs, George Browne, of the St. Paul & Tacoma Lumber Company: Henry Hewitt, jr., Dr. H. C. Bostwick, H. A. Strong, of the Eastman Manufacturing Company, of Rochester, N. Y., which manufactures the kodak camera; Paul Schulze, general land agent of the Northern Pacific: A. N. Fitch president, and H. L Achilles, cashier. President Fitch says: "The temporary suspension is due to our inability to realize readily on our securities. which are ample. The bank will reopen." Ii is generally believed that the suspension will be for a short time only. The bank. when able to realize on securities, will andoubtedly pay every depositor in full and have & large surplus.
2.July 22, 1893Fort Worth GazetteFort Worth, TX
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Article Text
A Tacoma Bank.
Tacoma, Wash., July 21.—The Traders' bank suspended today.
3.July 23, 1893The SunNew York, NY
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Article Text
Western Banks that Are Closed. GREELEY. Col., July 22-The Union Bank made an assignment yesterday morning to James F. Benedict of Denver. It is thought this step was voluntarily taken to avoid the contingency that might arise should some creditors take advantage of the attachment law. The bank is perfectly solvent and not a depositor will lose a dollar. TACOMA. Wash., July 22.-A. G. Foster was appointed receiver of the Traders' Bank yea. terday. President Fitch states that the assets will pay all the obligations and leave a large surplus. Henry A. Strong of Rochester. N. 1.0 and John D. Rockefeller were the largess stockholders. It is expected that the bank will resume soon. TOPEKA. Kan., July 22.-The First National Bank of Anthony closed its doors yesterday and posted up notice of assignment. Its ase sets are $154, 000 and liabilities $50,000. RUSSELL. Kan., July 22.-The First National Bank of this place closed this afternoon. and was taken possession of by C. M. Sawyer on order of the Comptroller of the Currency. No statement is made. WASHINGTON. July 22.-The Comptroller has appointed William A. Rice receiver of the Puget Sound National Bank of Everett. Wash., and Mr. George 8. Hoffmann receiver of the Bozeman National Bank. Bozeman. Mont.
4.January 25, 1894The Daily Morning AstorianAstoria, OR
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Article Text
WILL RESUME BUSINESS. Tacoma, Jan. 24.-The Traders' Bank, suspended last August, will resume business tomorrow.
5.January 25, 1894The Seattle Post-IntelligencerSeattle, WA
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Article Text
Traders' Bank to Reopen Today. TACOMA, Jan. 24.-The Traders' bank which suspended July 2, will open its doors tomorrow morning. President Fitch says arrangemente have been completed whereby the bank will open with increased strength, and overy depositor who desires his money can have the same on presentation of his claims. "Four of our trustees," said Mr. Fitch, "Col. C. W. Griggs, Henry Hewitt, jr., Henry A. Strong and George Browne, have put up out of their private funds ample security to meet every possible contingency, and there never was any question about depositors receiving the face value of their deposits."
6.May 20, 1894The Wichita Daily EagleWichita, KS
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Article Text
TACOMA BANK CLOSED. TACOMA, Wash., May 19.-The Traders' bank of Tacoma suspended payment this morning and a receiver was appointed. This bank failed last summer and respened a few months ago. It is said all depositors will be paid.
7.May 20, 1894The Helena IndependentHelena, MT
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Article Text
Decided to Liquidate. TACOMA, May 19.-On application of two trustees the superior cou to-day appointed Leonard Howarth receiver for the Tradera bank of Tacoma. The Traders was one of the largest banks in the city up to July, 1893, when, as a result of heavy withdrawals, the bank suspended, remaining closed until Jan. 24 Inst, when it reopened. Since then deposits have de. creased and the stockholders decided to close and liquidate, Trustees any the assets are sufficient to pay all depositors, and that the stockholders will perhaps be paid in full for their stock.
8.May 20, 1894The Anaconda StandardAnaconda, MT
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Article Text
Tacoma Bank Failure. TACOMA. Wash., May 19.-The Traders' bank of Tacoma suspended payment this tuorning. and it receiver was appointed. This bank failed last summer and reopened a few months ago. It is said all the depositors will be paid.
9.May 20, 1894The Daily Morning AstorianAstoria, OR
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Article Text
AGAIN SUSPENDED. / Portland, Or., May 19.-Word has been received from Tacoma that the Traders' National bank suspended today. The bank was closed during last summer's crash, but reopened after a few weeks.
10.May 20, 1894The Morning CallSan Francisco, CA
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Article Text
CLOSED FOR LIQUIDATION. This Time the Traders' Bank Will Not Resume. Tacoma, Wash., May 19.-Just previous to the opening of the Superior Court this morning an application was filed in the clerk's office by Trustees George Browne and Henry Hewitt Jr., requesting the court to appoint a receiver for the Traders' Bank of Tacoma. The court appointed Leonard Howarth, Mr. Hewitt's private secretary, fixing his bond at $50,000. The bank will liquidate. The Traders' was one of the largest banks in Tacoma up to July 21, 1893, and its stock had sold at above $125. On that date, as a result of heavy withdrawls, the bank suspended, remaining closed until January 24 last, when it reopened. Since then deposits decreased from $150,000 to $55,000, and the largest stockholders decided to close and liquidate. The trustees say the assets are sufficient to pay all depositors and that the stockholders will be paid 50 to 75 per cent and perhaps in full for their stock. The capital was $500,000. The bank was organized six years ago.
11.May 20, 1894The HeraldLos Angeles, CA
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Article Text
A RECEIVER APPOINTED. The Traders Bank of Tacoma Goes Into Liquidation. TACOMA, Wash., May 19.-Just previous to the opening of the superior court this morning, an application was filed in the clerk's office by Trustees George Browne and Henry Hewitt, jr., requesting the court to appointa receiver for the Traders bank of Tacoma. The court appointed Leonard Howard, Mr. Hewitt's private secretary. fixing his bond at $50,000. The bank will liquidate. The Traders was one of the largest banks in Tacoma up to July 21, 1893, and its stock had sold at $1.25. On that date, as a result of heavv withdrawals, the bank suspended, remaining closed until January 24th last, when it reopened Since then deposits decreased from $150.000 to $55,000, and the largest stockholders decided to close and liquidate. The trustees say the assets are sufficient to pay all depositors and that the stockholders will be paid 50 to 75 per cent and perhaps in full for their stock. The capital was $500,000. The bank was organized six years ago.
12.May 20, 1894The Salt Lake HeraldSalt Lake City, UT
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Article Text
TACOMA BANK FAILURE. Tacoma, Wash., May 19.-On application of two trustees, the superior court today appointed Leonard Howarth receiver of the Traders' Bank of Tacoma. The bank will liquidate. The Traders' was one of the largest banks in Tacoma up to July, 1893, when, as a result of heavy withdrawals, the bank suspended, remaining closed until January 24 last, when it reopened.
13.May 20, 1894St. Paul Daily GlobeSaint Paul, MN
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Article Text
Tacoma Bank Suspends. Tacoma, May 19.-The Traders' Bank of Tacoma suspended payment this morning and a receiver was appointed. This bank failed last summer and reopened a few months ago. It is said all depositors will be paid.
14.May 24, 1894The Middleburgh PostMiddleburg, PA
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Article Text
Failure of a Tacoma Bank. The Traders' Bank of Tacoma, Wash. suspended payment and a receiver was appointed. This bank failed last summer and reopened a few months ago, It is said all the depositors will be paid.
15.June 1, 1894Fisherman & FarmerElizabeth City, Edenton, NC
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Article Text
South and West. CONGRESSMAN OATES'S nomination for Governor of Alabama is assured as more than enough delegates who favor him have been chosen in the County Conventions THE Cleveland (Ohio) conference between miners and operators to settle the bituminous coal strike came to naught. OVER 150 Industrials raided ranches and fruit farms in Vaca Valley, California, for the purpose of driving out the Chinese and and Japanese. They took a number of prisoners and drove them ahead, maltroating them. The Industrials were finally arrested and with the Chinese and Japanese placed in custody in Vacaville, J. H. BLAYTON shot and kille his young wife at Richmond, Va. He then shot and cut himself. THE Georgia Populist State Convention at Atlanta nominated J. K. Hines, of Atlanta, for Governor. Hines is a well-known attorney who was at one time a Judge of the Superior Court In Georgia HENRY SCOTT. colored, arrested for the murder of his six-year-oldstepdaughter was lynched by a mob of 100 colored men at Jefferson, Texas. DURING a storm in Hawkins County, Tennessee, crops were badly damaged. A number of persons were injured, and one. a colored man named John Kelly, was killed. MANY dwellings on a Cincinuati (Ohto) hillside have been twisted out of shape and are threatened with demolition by a slowmoving landslide. THE Traders' Bank, of Tacoma, Wash., which failed last summer and reopened a few months later, has suspended again and a receiver has been appointed. Two aldermen, three police officers and four judges and clerks of election were indicted in Chicago, Ill., for alleged violation of election laws. NOTHING like the weather of a few days ago has been experienced in Texas for twenty years. There was a heavy frost, and crops are badly damaged. THE heaviest snowstorm in years prevailed in Eastern Kentucky. At Corbin the snow was eight inches deep. All sorts of crops were rulned or badly injured as is result. WILLIAM PURDUE. at Rinehart, Mo., shot and killed A. W. Randle, then set fire to Rundle's house, and shot and killed himself. Rundle received five bullets in his head. He was about filty-eight years of age. His murderer was a single man, about thirty-five years old.
16.July 10, 1897The Coeur D'alene PressCoeur D'alene, ID
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Article Text
# NORTHWEST NEWS AND NOTES.
Items of Interest From Idaho, Montana and Washington.
A Portland man has bought 320 acres of land near South Bend for $25,000. A granite quarry on the land is to be developed.
The state reform school at Miles City has expended $12,700 of the $16,850 appropriated for the year, leaving about $4000 for the next six months.
The Traders' bank of Tacoma has paid another dividend of 20 per cent, which will make 75 cents on the dollar thus far paid by the receiver.
A large faction on Willapa harbor is opposed to the restrictions placed by the new law on the tonging of oysters off the natural beds. Forty-two men are reported to have signed articles to tong, regardless of law, and to share the cost of suit if any should be arrested.
Grain dealers and millers in Walla Walla estimate that there will be at least 30 per cent more wheat in Walla Walla county this year than last. There was more land in cultivation then than is under cultivation this year, but the finer quality of the grain now makes a great difference. Last year the market opened at 40 cents per bushel, this year not less than 50 cents will, it is thought, be offered.
17.July 10, 1897The Kootenai HeraldBonners Ferry, Kootenai, ID
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Article Text
# NORTHWEST NEWS AND NOTES.
Items of Interest From Idaho, Montana and Washington.
A Portland man has bought 320 acres of land near South Bend for $25,000. A granite quarry on the land is to be developed.
The state reform school at Miles City has expended $12,700 of the $16,550 appropriated for the year, leaving about $4000 for the next six months.
The Traders' bank of Tacoma has paid another dividend of 20 per cent, which will make 75 cents on the dollar thus far paid by the receiver.
A large faction on Willapa harbor is opposed to the restrictions placed by the new law on the tonging of oysters off the natural beds. Forty two men are reported to have signed articles to tong, regardless of law, and to share the cost of suit if any should be arrested.
Grain dealers and millers in Walla Walla estimate that there will be at least 30 per cent more wheat in Walla Walla county this year than last. There was more land in cultivation then than is under cultivation this year, but the finer quality of the grain now makes a great difference. Last year the market opened at 40 cents per bushel, this year not less than 50 cents will, it is thought, be offered.
# Montana.
An excellent fruit crop is predicted throughout Clarke county.
The city chain gang has been revived at Great Falls, owing to the arrival of many hoboes.
Bozeman reports that the berries on the mountain side were never thicker than they are this year. This means lots of grouse and fat bear.
It is reported that some of the stockmen of the Shonkin range are discussing the advisability of moving their beef steers to Culbertson, where there is good grass and water, and holding them at that point until ready for shipment.
A Gardiner man has in his possession a double elk tusk which he extracted from an elk killed during the last season. This tooth is a freak of nature in that the animal had three well developed tusks, whereas but two usually occur, one on either side of the upper jaw.
Advices from the upper Teton state that surveyors have been in the field running the lines that will mark the separ-ation of the ceded lands from the Black-feet reserve. It is estimated that 50 days will be required to complete the field work, and at least 20 days to write up the field notes, make the necessary maps, etc.
# Idaho.
Salmon City reports the beginning of work on an artesian well.
Many people are watching the experiment of putting a launch on Pend d'Oreille. If the one now being tried is a success, others will follow.
It is estimated that 15,000 head of cattle have been shipped from Idaho county this year.
The last cloud burst on Salmon river has put the state road above John Day in a worse condition than ever.
Nez Perce reservation settlers are busy breaking ground. The late rains will result in thousands of acres being broken out than otherwise would have been this season.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
