20580. City Savings Bank (Chattanooga, TN)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: June 19, 1893
Location: Chattanooga, Tennessee (35.046, -85.310)

Metadata

Model: gpt-5-mini
Short Digest: aa86260a

Response Measures

Full suspension

Description

Multiple contemporary dispatches report an initial run triggered by a telephoned name error (City Savings confused with Penny Savings), heavy withdrawals ($20,000 then $40,000) and the bank 'assigned' with G. H. Jarnagin named assignee. 'Assign' here indicates an assignment/closure rather than a mere temporary suspension; no clear evidence of a successful reopening is reported. Classified as run → suspension → closure.

Events (2)

1. June 19, 1893 Run

Cause: Rumor Or Misinformation
Cause Details: A Dun & Co. messenger telephoned the wrong bank name, confusing City Savings Bank with the Penny Savings Bank; the error was immediately corrected but prompted panic withdrawals.
Random Run: Yes
Random Run Snippet: Messenger telephoned wrong name, City Savings for Penny Savings; corrected
Measures: None reported beyond immediate operations; withdrawals totaled over $60,000 and panic forced later assignment.
Newspaper Excerpt: a messenger of Dun & Co., in telephoning the intelligence to their chief banks of the city used the name City Savings, instead of Penny Savings ... the bank depositors got wind of the unfortunate report and withdrew over $20,000 Saturday and over $40,000 yesterday.
Source: newspapers

2. June 20, 1893 Suspension

Cause: Rumor Or Misinformation
Cause Details: Forced to assign (suspend/close) after the run triggered by the telephoned name error and consequent heavy withdrawals ($60,000 total).
Newspaper Excerpt: The City Savings Bank ... was forced to assign last night ... G. H. Jarnagin was named as assignee. All depositors will be paid in full.
Source: newspapers

Newspaper Articles (23)

1. June 20, 1893 Evening Journal Wilmington, DE

Article from Evening Journal, June 20, 1893

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A MESSENGER'S BAD ERROR. HE MADE A MISTAKE IN THE NAME OF A BANK, And Now Both Are Bursted and Depositors Are Scrambling for Their Money-Depositors Made a Rush and Withdrew Over $60.000. CHATTANOOGA, June 20.-The City Savings Bank, of this city, was forced to assign last night on account of an unfortunate blunder whereby they were confounded with a colored institution that suspended last Saturday, known as the Penny Savings Bank. It assigned on Saturday with less than $6,000 liabilities and a messenger of Dun & Co., in telephoning the intelligence to their chief banks of the city used the name "City Savings," instead of "Penny Savings," but the error was immediately corrected. The seed of distrust, however, was sown and the bank depositors got wind of the unfortunate report and withdrew over $20,000 Saturday and over $40,000 yesterday. The withdrawal was so wholly unexpected that the bank was forced to as sign. The assets are given at $475,000, the liabilities $225,000. The amount due depositors is about $216,000. Nothing is due any local bank. G. H. Jarnagin was named as assignee. All depositors will be paid in full.

2. June 20, 1893 The Morning News Savannah, GA

Article from The Morning News, June 20, 1893

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RUINED BY A MISTAKE. An Error in Telephoning a Name Causes a Run On a Bank. Chattanooga, June 19.-The City Savings Bank of this city was forced to assign to-night on account of an unfortunate blunder whereby they were confounded with a colored institution that suspended last Saturday, known as the Penny Savings Bank. It assigned Saturday with less than $6,000 liabilities and a messenger of Dun & Co, in telephoning the intelligence to the chief banks of the city used the name "City Savings" instead of "Penny Savings," but the error was immediately corrected. Theseed of distrust, however, was shown, and the bank depositors got wind of the unfortunate report and withdrew over $20,000 Saturday and over $40,000 to-day. The withdrawal was so wholly unexpected that the bank was forced to assign. The assets are given at $455,000 and the liabilities at $225,000. The amount due depositors is about $216,000. Nothing is due any local bank. G. H. Jarnagin was named as assignee. All the depositors will be paid in full.

3. June 20, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 20, 1893

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The Day's Failures. CHATTANOOGA Tenn., June 20.The City Savings bank as a result of a run has been forced to suspend. The assets are $475,000 and the liabilities are $225,000, All the depositors will be paid in full.

4. June 20, 1893 The Waco Evening News Waco, TX

Article from The Waco Evening News, June 20, 1893

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Connor, Tucker & Co. A BLUNDER. BOOKS FREE! Causes the Assignment of a To further increase the popularity Savings Bank. of the Cotton Belt Route, and propBy Associated Press to The News. erly present to the readers of this CHATTANOOGA, Tenn., June 20. paper the advantages of that line to The City Savings bank, of this Chicago and the World's Fair, as well city, was forced to assign last night as to the East and Southeast, arrangeon account of an unfortunate blunments have been made with one of der whereby they were confounded the largest publishing houses in the with the colored institution that susUnited States which will enable them to send any one or more of the followpended last Saturday, known as the ing valuable books to any address by Penny Savings bank. It assigned mail free, on receipt of 12 cents each Saturday with less than six thousand dollars liabilities and a mes in stamps to cover postage and packing. They are all printed on good senger of Dun & Co. telephoning paper and bound with illuminated the intelligence to the chief banks cover in colors. The amount asked of the city used the name "City is to cover charges and cost of pack Savings" instead of Penny Savings, ing, and will be promptly refunded to but the error was immidiately corany one not perfectly satisfied. rected. The seed of distrust, how No 20. "Dream Life."-By 1k. ever, was sown and the bank deMarvel (Donald G. Mitchell.) positers got wind of the unfortuNo. 19. "Cosmopolis.'--By Paul nate report and withdrew over *20,Bourget. 000 Saturday and over *40,000 yesNo 18 "Reveries of a Bachelor." terday. The withdrawal was 80 By Ik Marvell (Donald G Mitchell ) wholly.unexpected that the bank was No. t "Was it Suicide?"-By Ella forced to assign. The assets are Wheeler Wilcox. One of this writer's given as $475,000; liabilities *225, best works; 192 pages; author's 000. The amount due depositors portrait. is about $216,000. Nothing is due No. 8. "Poems: and Yarns by James any local bank. G. H. Jarnagin Whitoomb Riley and Bill Nye."was named as the assignee. All Prose by Nye, poetry by Riley. Illus. depositors will be paid in full. trations; 230 pages.

5. June 20, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 20, 1893

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Savings Bank Assigns. [By talegraph to the Dispatch.} CHATTANOOGA, TENN., June 19.-The City Savings Bank. of this city, was forced to assign to-might on account of an unfortunate blunder whereby they were confounded with a colored institution that suspended last Saturday known as the Penny Savings Bank. Itassigned Saturday, with less than $6.000 liabilities, and a messenger of Dun & Co. in telephoning the intelligence to the chief banks of the city used the name "City Savings" instead of " Penny Savings," but the error was immediately corrected. The seed of distrust. however, was sown. and the bank depositors got wind of the unfortunate report and withdrew over $20,000 Saturday and over $40,000 to-day. The withdrawal was 80 wholly unexpected that the bank was forced to assign. The assets are given at $475,000. the liabilities at $225,000. The amount due depositors 18 about $216,000. Nothing 18 due any local bank. G. H. Jarnigan was named as assignee. All depositors will be paid in full.

6. June 21, 1893 The Times Richmond, VA

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OTHER FAILURES RESULT From the Wilmington Bank Failure. Other Financial Troubles. WILMINGTON N. C., June 20.-Adrian & Vollers, wholesale grocers and liquor dealers, one of the oldest business houses in the city, asigned with preferences." The failure was precipitated by that of the Bank of New Hanover, in whose favor they executed a mortgage for ninety thousand dollars some months ago. But few depositors are calling for money at the Wilmington Savings and Trust Company's banking house to-day, and some of those who withdrew their money yesterday have already returned it. Deposits were being freely made by business men this morning. At a meeting of the executive committee of the Wilmington Savings and Trust deCompany, held here to-day, it was cided that, beginning with June 28th next, dedepositors desiring to withdraw their full. posits from the bank will be paid in H. Walters, vice-president of the company, received the following telegram to-day: "Baltimore, June 19.-Draw on us at sight for $100,000. or any part thereof, if required for your Savings and Trust Company. (Signed) "W. T. WALTERS, "B. F. NEWCOMER." The Chattanooga Failure CHATTANOOGA June 20.-The assignment of the City Savings Bank yesterday caused scarcely a flurry in financial circles to-day. The Chattanooga Savings Bank, as a precautionary measure, took advantage of the sixty days' notice of withdrawal of deposits. None of the banks lost deposits to-day, and in most of them the deposits increased. The community is so confident that the depositors of the City Savings Bank will be paid speedily in full that merchants are offering to take their checks at par in payment for merchandise. The agent of Dun & Co. denies that the failure was caused by erroneous information furnished by them in confusing the name "City Savings Bank" with the "Penny Savings" institution, which was embarrassed. There is some likelihood that the City Savings Bank may arrange its affairs so as to resume. Minneapolis Bank Failure. MINNEAPOLIS, MINN., June 20.-The Peoples' Bank, of this city, suspended payment to-day. Assurances are given that depositors will be paid in full. The suspension is caused by the assignment of James McMillan, the hide merchants Mr. McMillan was the president of the bank, and since his financial condition became known there have been large withdrawals from the bank by depositors. This finally forced suspension, although the bank officials declare the institution to be perfectly solvent. The bank is only two years old, and its paidup capital was but $100,000. The suspension caused but little comment, as the bank was known to be small and weak. Other Failures Reported MINNEAPOLIS, MINN., June 20.-Jas. McMillan, of this city, made a voluntary assignment to M. C. Fletcher. McMillan was in the hide and fur business until short time ago, when the business was transferred to a corporation known as James McMillan & Co. The assignment does not affect this corporation. Fletcher estimates the assets at about $700,000. Liabilities, $250,000. Of the liabilities 60 per cent. are foreign creditors, who have made consignments of him or furnished other 40 per cent. are goods persons to Minneapolis capital. people. The CHICAGO, June 20.-The Central Engineering Company, of Harvey, III., has assigned. The liabilities are said to be $75,000. WASHINGTON, D. C., June 20.-Comproller Eckels has been informed of the failure of the Linn County National Bank, of Albany, Oregon. Its capital was $100,00. Bank Examiner Jennings has been placed in charge.

7. June 21, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, June 21, 1893

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Telegraphic Brevities. Cornell won the Cornell-Columbia freshman race yesterday by ten lengths. The General Engineering Company, of Harvey, IiI., has assigned. Liabilities said to be $75,000. The Norfolk and Southern railroad has declared a regular quarterly dividend of 1 per cent. payable July 10th. The assignment of the City Savings Bank, at Chattanooga, Monday caused scarcely a nurry in nnancial circles there. Comptroller Eckert is informed of the failure of the Lion-County National Bank, of Albany, Oregon; capital, $100,000. An unknown tramp was killed by a train in the city limits of Augusta, Ga., last night while stealing & ride. He was drunk. Clarence S. Bayne, the star pitcher of the Untversity of Pennsylvania base-ball team. died yesterday evening at Philadelphia of appendicitis. The resignation of Mr. Julien B. DePray, Chief of the Law Division, Architect's office, Treasury Department, at Washington, has been requested. James McMilian. of Minneapolis. Minn., made a voluntary assignment yesterday to M. C. Fletcher. Estimated assets, about $700,000, liabilities, $250,000. Mareschal Jose Simeao de Oliveria, of Brazil, President of the Brazilian commission to the World's Columbian Exposition, died at the Hotel Savoy, New York, yesterday, of Bright's disease. Mrs. J. T. Ford died at her home. near Richmond. Mo., yesterday. from blood-poisoning, caused by a rat bite ten days ago. She was the mother of the notecious Bob and Charley Ford, who killed Jesse James. The business portion of the town of Tillamook, Ore., was burned Monday. Several fires started simultaneously, and It is supposed they were the work of incendiaries. Total loes, $100,000; insurance half that. Mrs. Cleveland, with her little daughter Ruth and her houshold servants, left Washington on a special car over the Pennsylvania railroad at 9:40 A. M. yesterday for Buzzard's Bay. The President did not accompany her. There will be a monster reunion of war veterans, both Confederate and Federal, at the World's Fair October 20th to 24th inclusive, those days having been designated by the exposition authorities. Not less than 50,000 are expected to be present. Major Joseph Dubois was arrested Monday night at Bellaire, O., under the name of Joseph Morrison. on a charge of embezzlement made by James Fagin. of Knoxviile, Tenn., and with. out requisition was taken as once to Cincinnati and thence to Knoxville. Secretary Herbert, after spending a few days at his home, in Montgomery, Ala., left that city for Washington yesterday. He was the reciplent of marked attention from his Montgomery friends and neighbors and was given a banque 8 by them Monday evening. The People's Bank, of Minneapolis, Mino., surpended payment yesterday, the suspension being caused by the assignment of James McMillan, the hide merchant The failure caused but little comment, as the bank was known to be small and weak. The President yesterday made the following appointments: Paul B. Trammell, of Georgia, to be Collector of Internal Revenue for the Diatrics of Georgia; Andrew Fuller Yus, of Mis-

8. June 21, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 21, 1893

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BANK SUSPENSIONS. The Stringency in the Money Market Continues With Bad Results. Eugene, June 20.-The Lane county bank, the oldest financial institution in this county, failed to open its doors this morning, having become cramped by the stringency of the money market. Hovey, Humphry and Co. have posted a notice that depositors will be paid in full. No statement has yet been made as to the assets and liabilities, but depositors do not seem to have any fears, and many say that if the bank should open this afternoon they would not draw. The cashier stated in an interview today that the assets, notes and property would amount to nearly three times the liablities. No attachments have been issued and, probably, there will be none. The bank strongly asserts that it will pay every dollar to the depositors, but in order to realize on their credits at once they would be compelled to go into court and crowd their patrons. This they did not feel disposed to do, and when they failed to secure assistance from Portland and San Francisco banks, they concluded to take plenty of time to it, and let matters shape themselves when the money market should be easier. Some excitement was created on the streets and a run was threatened on the other banks, but they were fully able to pay every demand promptly. Albany, Or., June 20.-The excitement over the financial flurry has quieted down. The official statement of the suspended bank's condition will show, it is stated, assets sufficient to pay depositors every dollar. Los Angeles, June 20.-The University Bank and the City Savings Bank closed their doors this morning. The president of the City Bank says that the bank has closed temporarily in order to collect money from its loans and securities. He says depositors will be paid in full. The closing of the University Bank, which is a commercial bank, was a surprise. It has a notice on the door to the effect that depositors will be paid in full. Washington, June 20.-The comptroller today received Messrs. Newberry and Wood, of the Citizens' National Bank of Spokane, Wash., who wish to make some arrangement for reopening that bank. No agreement satisfactory to Eckles could be made. The bank will either go into voluntary liquidation or a receiver will be appointed. Nashua, N. H., June 20.-The Colony Manufacturing Company has failed, liabilities, $168,000, assets, about half. The company was engaged in the manufacture of woolens. Chattanooga, Tenn., a June 20.-The City Savings bank, as a result of a run, has been forced to suspend. Assets, $475,000, liabilities, $225,000. All depositors will be paid in full.

9. June 21, 1893 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, June 21, 1893

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BUSINESS. BROKE BY A BLUNDER Chattanooga, Tenn., June 20.-The City Bavings bank of this city was forced to close last night on account of an unfortusate blunder whereby they were confounded with a colored institution that suspended last Saturday, known as the Peasy Savings bank. It assigned Nature day with loss than $6000 liabilities, and a messenger of Dun & Co. telephoning the fact to the chief banks of the city, used the name "City Savings" instead of "Peany saving;" but the error was corrected. Seeds of distrust, however, were town, the bank depositors got wind of the report and withdrew over $20,000 Saturday and over $40,000 yesterday, The withdrawal was so unexpected that the bank was forced to assign. Assets are given at $475,000; liabilities, 8223,200. The amount due depositors is $216.DOO. Nothing is due any local banks. G. H. Jarnagin was named as assignee. All depositors will be paid in full.

10. June 21, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 21, 1893

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ECKLES WILL NOT HAVE IT. I The Citizens' Bank of Spokane Will Hardly Resume Just Now. WASHINGTON, June 20.-The Comptroller to-day received Messrs. Newberry and Wood of the Citizens' National Bank of Spokane, Wash., who wished to arrange for the opening of that bank. No agreement satisfactory to Eckels could be made, and the bank will either go into voluntary liquidation or a receiver will be appointed. CHATTANOOGA, June 20.-The City Savings Bank, as a result of a run, has been forced to suspend; assets, $475,000; liabilities $225,000. All the depositors will be paid in full. NASHUA, N. H., June 20.-The Colony Manufacturing Company has failed. Liabilities, $168,000: assets, half. The company was engaged in the manufacture of woolens.

11. June 21, 1893 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 21, 1893

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YESTERDAY'S FAILURES. An Oregon National Bank Goes to the Wall. WASHINGTON, June 20.-Comptroller Eckels has been informed of the failure of the Linn County National Bank of Albany, Oregon. The capital stock is $100,000. Bank Examiner Jennings has been placed in charge. WILMINGTON, June 20.-Adrian & Vollers, wholesale grocers and liquor dealers, one of the oldest business houses in the city, has assigned with preferences. The failure was precipitated by that of the Bank of New Hanover, in whose favor they executed a mortgage for $200 000 some months ago. But few depositors are calling for money at the Wilmington Savings and Trust Company's banking house to-day, and some of those who withdrew money yesterday have already returned it. Deposits are being freely made by business men this morning. CHIGAGO, June 20.-The General Engineering Company, of Harvey, III., has assigned, and the liabilities are said to be $75,000. MINNEAPOLIS, Minn., June 20.-Jas. McMillan, of Minneapolis, has made a voluntary assignment to M. C. Fletcher. McMillan was in the hide and fur business until a short time ago, when his business was transferred to a corporation known as James McMillan & Co. The assignment does not affect this corporation. Fletcher estimates his assets at about $700,000, liabilities, $250,000. Of the liabilsties 60 per cent. are foreign creditors, persons who have made assignments of goods to him, or furnished capital. The other 40 per cent. is Minneapolis people. MINNEAPOLIS, June 20.-The People's Bank of this city suspended payment to-day. Assurances are given that the depositors will be paid in full. The suspension is caused by the assignment of James McMillan & Co., hide merchants. McMillan was president of the bank, and since his fanancial condition became known there have been large withdrawals from the bank by the de. positors. This finally forced the suspension, although the bank officials declare the institution to be perfectly solvent. The bank is only two years old, and its paid-up capital was but $100,000. The suspension caused but little comment, as the bank was known to be small and weak. RICHMOND, Va., June 20.--Isaac Held, a dry goods merchant of this city, made an assignment to-day. His liabilities are $10,500. CHATTANOOGA, Tenn., June 20.-The assignment of the City Savings Bank yesterday caused scarcely a flurry in financial circles to-day. The Chattanooga Savings Bank, as a precautionary measure, took advantage of thesixty days' notice of withdrawal of deposits. None of the banks lost deposits today, and in most of them deposits increased. The community is so confident that the depositors of the City Savings Bank will be paid speedily in full that merchants are offering to take their checks at par in payment of merchandise. The agent of Dun & Co. denies that the failure was caused by erroneous information furnished by them in con. fusing the name, City Savings Bank," with that of the Penny Savings Bank, an institution which was embarrassed. There is some likelihood that the City Savings Bank may arrange its affairs so as to resume. WILMINGTON, N. C., June 20.-At a meeting of the executive committee of the Wilmington Savings: Trust Company held here to-day, it was decided that, beginning June 28 h next, de-

12. June 21, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 21, 1893

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A Chattanooga Bank Suspends. CHATTANOOGA`, Tenn., June 20.-The City Savings bank, as the result of a run, has been forced to suspend. Assets, $475,000; liabilities, $225,000. All depositors will be paid in full.

13. June 22, 1893 Echo De L'ouest Minneapolis, MN

Article from Echo De L'ouest, June 22, 1893

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La Shell Lake Savings Bank de Rice Lake a fermé sea portes. Fermée également la banque de New Hanover N. O. Passif 300,000 dollars. La Chicago Desk Manufacturing Co. a suependu ses parements. Tombée eat la City Savings Bank de Chattanoago, Tenn. Par ordre de l'inspecteur des banques la "Bank of Plainville Kan,' a suspendu ses paiements. La banque de Washburn Wisc., a fermé ses portes. La "First National Bank" d' Arkansas City a fait faillite. Passif 600,000 dollars. M. Harry F. Legg, le plus grand bijoutier de Minneapolis a déposé son bilan.

14. June 22, 1893 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, June 22, 1893

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BUSINESS TROUBLES. The Citizens' Savings bank, of Portsmouth O., has failed. The Ellsworth Packing and Provision Com. pany. of Chicago, assigned on June 21. H. c. Tucker & Co., private bankers of But. falo, N. Y.. closed their doors June 20, Sloan, Johnson & Co., wholemale grocers of Omaha, have assigned. Liabilities, $300,000; as. sets, $250,000 The Lane County bank, of Eugene City, Or., suspended on June 20, but business mea still retain confidence in is The excitement over the Albany. Or., bank suspension is quieting down and 11 is thought the bank will pay in full. Newberry and Wood, of the Citizens' National bank, of Spokane, waited on Comptroller Eckele on June 30, but failed to come to any agreement about reopening the bank. The Colony Woolen Manufacturing Company. of Nashua. N. H., failed on June 29 with liabil ities of $168,000 and assets of half that amount The City Savings bank, of Chattanooga, Tenn, as a result of a run, was forced to suspend on June 20, with assets of $475,000 and liabilities of $225,000.

15. June 22, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, June 22, 1893

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GIVEN A CHANCE. Coroner Patterson decided not to issue warrants for the commitment of Col. Ainsworth, Dant, Covert and Sasse until this morning in order to give them 9.7 opportunity of obtaining bail. Col. Ainsworth has already secured a bondsman. Contractor Dant is very ill at his residence. BANKS FAIL. Several Financial Institutions in Various Places Forced to Suspend. ALBANY, Ore., June 20.-The Linn county bank of this city has closed its doors owing to the stringency in the money market. J. L. Cowan, president of the bank, says the deposits amount to about $50,000, and that the assets will exceed the liabilities by about $80,000. The Linn county bank at Lebanon also closed its doors at noon. The Bonk of Oregon, this city, also closed its doors. WILMINGTON, N. C., June 20.-The Bank of New Hanover has been forced to make an assignment to Junius Davis in the interest of all concerned. The assets are estimated at $1,250,000; the liabilities, $800,000. CHATTANOOGA, Tenn., June 20.-The City savings bank at a late hour last night made an assignment. It is claimed the depositors will be paid in full. TOPEKA, Kan., June 20.-The state bank commissioner has ordered the State bank of Plainville closed. CLEVELAND, O., June 20.-The Lake County bank at Painesville, O., which was forced to suspend last week because of a run. was solvent. A statement shows that the assets were $450,000 and the liabilities $350,000.

16. June 23, 1893 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT

Article from Vermont Phœnix, June 23, 1893

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There are 15 cases of scarlet fever at Waitsfield and the village schools have been closed. Two anarchists attempted to assassinate the ex-premier of Spain at Madrid Tuesday night. The bomb exploded in front of the premier's house of the official, and one of the anarchists was blown to pieces and the other badly wounded. The 10th reunion of the Orange County veterans was held at Strafford Tuesday. Over 100 veterans escorted Gov. Fuller from the residence of Senator Morrill to the hall, with music by the Sharon band. Col. George W. Flagg presided. Speeches were made by Gov. Fuller, Department Commander Doty, Senator Morrill Congressman Powers and others. Business failures: The Cassell Publishing company of New York has gone into liquidation. Dunham, its manager, is said to be a defaulter. A receiver has been appointed for the Oil Wells Supply company of Pittsburg, Pa., a concern with a capital of $1,500,000. Its assets are $2,500,000 and its indebtedness $1,100,000. The City Savings bank of Chattanooga, Tenn., and the bank of New Hanover at Wilmington, N. C., have assigned.

17. June 23, 1893 The Kinsley Graphic Kinsley, KS

Article from The Kinsley Graphic, June 23, 1893

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THE following dispatch shows how easily and quickly a perfectly solvent thank may be brought to bankruptcy during H financial panic under our present system of private banks: "CHATTANOOGA, TENN., June 20.The City Savings bank of this city was forced to assign last nightowing to an unfortunate blunder, whereby it was confounded with the Penny Savings bank for colored people, which suspended last Saturday, with less than $6,000 liabilities. A messenger of Dunn & Co. in telephoning the intelligenee to the chief banks of the city, used the name "City Savings" instead of "Penny Savings, but the error was immediately corrected. The bank deposito 8 became alarmed and withdrew over $20,000 Saturday and over $40,000 yesterday. The withdrawal was so wholly unexpected that the bank was forced to assign. The ussets are given Ht $475,000, liabilities $225,000."

18. June 24, 1893 The Superior Times Superior, WI

Article from The Superior Times, June 24, 1893

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FAILURE FOLLOWS A BLUNDER. Tennessee Bank Forced by a Mistake to Make an Assignment. CHATTANOOGA, Tenn., June 20.-The City Savings Bank of this city assigned last night on account of a blunder whereby they were confounded with a colored institution know as the Pennv Savings Bank, that suspended last Saturday with less than $6, 100liabilities. The depositors of the City Savings Bank got wind of the unfortunate report and withdrew over $20,000 Saturday and $40,000 resterday. The assets are given as $475.000 and the liabilities $225,000. The amount due depositors is about $216,000.

19. June 27, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, June 27, 1893

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THE CHATTANOOGA BANK. It is Thought it May Resume Business. CHATTANOOGA, Tenn., June 20.-The City Savings Bank, which assigned last night, may resume business within sixty days. Twenty-five hundred depositors were caught in the fall, and many of them have been standing around the bank this morning all anxious as to the money they had in the bank. The outlook is that they will be paid in full. Some slight runs were made on the other banks, but nothing of a serious nature was noticed. The Chattanooga Savings Bank enforced a rule of sixty days' notice to withdraw long time deposits, in order to protect itself. A feeling of nervous excitement is apparent, but the other banks are solid enough. Among the small depositors who had their savings in the bank there is a general feeling of distrust which will wear off in time. At all of the banks the officers prepared to meet a run if one was mauu, but the people are remarkably cool and no great rush is noticeable.

20. June 30, 1893 Idaho County Free Press Grangeville, ID

Article from Idaho County Free Press, June 30, 1893

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FINANCIAL TROUBLES. Lane County Bank, at Eugene, Is Closed Temporarily. EUGENE, Or., June 20.-The Lane County bank, the oldest financial institution in this county, failed to open its doors this morning, having become cramped by the stringency of the money market. Hovey, Humphrey and Oo. have posted a notice to the effect that the depositors will be paid in full. No statement has yet been made as to the assets and liabilities, but depositors don't seem to have any fears, and many say that if the bank should open this afternoon they would not draw. Two Failures in California. Los ANGELES, Cal., June 20.-The City savings bank and the University bank closed their doors this morning. The president of the City bank saye that the bank is closed only temporarily, in order to collect money from its loans and securities. He says the depositors will be paid in full. The closing of the Uuiversity bank, which is a commercial bank, was a surprise. It has a notice on the door to the effect that depositors will be paid in full. Liabilities, $225,000; Assets, $475,000. CHATTANOOGA, Tenn., June 20.-The City savings bank as a result of a run, has been forced to suspend. Assets, $475,000; liabilities, $235,000. All depositors will be paid in full. Liabilities, $168,000; Assets, $84,000. NASHUA, N. H., June 20 -The Colony manufacturing company has failed. Liabilities, $168,000; assets, half. The company was engaged in the manufacture of woolens.

21. July 1, 1893 Macon Beacon Macon, MS

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A Savings Bank Assigns. The City savings bank of Chattanooga, Tenn. has assigned. Assets, $470,000; liabilities not more than half. Depositors will be paid in full.

22. July 7, 1893 The Bolivar Bulletin Bolivar, TN

Article from The Bolivar Bulletin, July 7, 1893

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A Savings Bank Assigns. The City savings bank of Chattanoo ga, Tenn., , has assigned. Assets, $470,000; liabilities not more than half. De. positors will be paid in full.

23. July 14, 1893 The Forrest City Times Forrest City, AR

Article from The Forrest City Times, July 14, 1893

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Article Text

A Savings Bank Assigns. The City savings bank of Chattanoo ga, Tenn., has assigned. Assets, $470,000; liabilities not more than half. De positors will be paid in full.