2067. Merchants National Bank (Ocala, FL)

View Charter #3815 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3815
Charter Number
3815
Start Date
January 14, 1897
Location
Ocala, Florida (29.187, -82.140)

Metadata

Model
gpt-5-mini
Short Digest
cdcc54f0ff7c80a9

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Receivership Details

Depositor recovery rate
23.8%
Date receivership started
1897-02-03
Date receivership terminated
1901-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
13.3%
Share of assets assessed as doubtful
37.8%
Share of assets assessed as worthless
48.9%

Description

Newspaper accounts (Jan 14–22, 1897) report a multi-week steady withdrawal of deposits culminating in heavy withdrawals on Jan 14; the directors closed the bank that morning and notified the Comptroller. A national bank examiner was placed in charge and a receiver (G. C. Stapylton) was later appointed. Although a Jan 21 telegram suggested the Comptroller might authorize a resumption, the bank was placed in receivership and did not resume normal operations. OCR typos corrected (Ocula -> Ocala). Sequence: run → suspension by directors → receivership/closure.

Events (5)
1. November 21, 1887 Chartered
Source
historical_nic
2. January 14, 1897 Run
Cause
Bank Specific Adverse Info
Cause Details
Several weeks of steady withdrawals after rumors and perceptions of poor management; president McConnell failed to obtain correspondent assistance in New York, and large withdrawals ($12,000 on the climactic day) depleted cash.
Measures
Directors decided to close the bank; notice posted 'Bank closed by order of directors.'
Newspaper Excerpt
For some weeks it had been quietly rumored that the institution was in a very shaky condition and those who received the tip quietly withdrew their deposits. ... Yesterday ... withdrawals by local depositors ... footed up over $12,000.
Source
newspapers
3. January 14, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure by directors after cash on hand was reduced to very low levels by withdrawals and inability to secure outside assistance; examiner placed in charge pending receivership determination.
Newspaper Excerpt
Bank closed by order of directors, comptroller has been notified. / Merchants' National Bank ... suspended to-day by resolution of the board of directors. Bank Examiner Shubrick has been placed in charge.
Source
newspapers
4. January 21, 1897 Receivership
Newspaper Excerpt
Davis offered a resolution favoring the appointment of Z. C. Chambliss as receiver of the Merchants' National bank. ... G. C. Stapylton, receiver of the Merchants' Bank, had made some new discoveries ... (later articles identify Stapylton as receiver). / receiver's sale ... order made on the 17th day of April, A. D. 1899 ... G. C. STAPYLTON, Receiver (later receiver actions and dividends reported).
Source
newspapers
5. February 3, 1897 Receivership
Source
historical_nic

Newspaper Articles (24)
1. January 14, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, January 14, 1897

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CLOSED THE DOORS. THE MERCHANTS' NATIONAL BANK OF THIS CITY SUCCUMBS TO THE FINANCIAL DEPRESSION. Our city was thrown into a state of great excitement this morning when it became known that the directors of the Merchants' National bank had decided not to open the doors. Soon after 8 o'clock the news began to spread and in a few minutes a large crowd had congregated in front of the bank discussing the situation and waiting anxiously for the usual opening hour. A few minutes before 9 o'clock a notice was placed on the door which read as follows: "Bank closed by order of directors, comptroller has been notified." This told the tale and the creditors knew that their worst fears had been realized. For some weeks it had been quietly rumored that the institution was in a very shaky condition and those who received the "tip" quietly withdrew their deposits. This has occasioned a steady run on the bank for the past three weeks. Yesterday a climax was reached. All day a steady rub was made and at night the withdrawals by local depositors during the day footel up over $12,000. This, together with the large amounts that had been drawn out, to use a plain expression, "busted the bank." The amount of deposits remaining in the bank is thought to be comparitively small, but nevertheless the blow i3 a severe one, The people of this community are not able to lose a cent in this way, and coming as it does, before we have recovered from the fearful crash of two years ago, the blow is doubly severe. What caused the failure at this time is a mystery. President McConnell is in New York trying to obtain assistance and his failure to get it is said to have forced the run yesterday. It is hoped the losses are not even as great as reported.

2. January 15, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, January 15, 1897

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] The Absorbing Topic The all-absorbing topic of conversation on our streets today was the bank failure. Out of town depositors with their sympathizers swelled the crowds around the public square to listen to the curb stone orators. The rumor gained circulation during the day that S al business houses would have a hard struggle to pu'l through on account of the failure. A careful investigation has failed to verify the rumor, and it is sincerely hoped that our merchants will be ab'e to stand the pressure. The largest local depositor is said to be the treasurer of Marion county. The amount is about $8000, and the former treasurer J. W. Stevens had failed to turn it over to the new incumbent Mr. Griffin. Heoffered the latter a check for it but Mr. Griffin preferred the cash or an approved bond from the bank. A bond was tendered him but it was not satisfactory and he demanded a better one. In the mean time the failure occurred. Yesterday morning a deed was handed to Clerk Sistrunk for recording. It was a warranty deed of the bank building to J. N. C. Stockton of Jacksonville, by R B. McConnell, president of Merchants National bank. The consideration is $15,000. It is rumored that he had no authority from the board of directors to make the sale and the many suffering creditors hope this is true as it would doubtless defeat the sale. If Mr. Stockton is 2 creditor of the bank he is entitled to no more consideration than any of the others. A well known business man who claims to be posted on the affairs of the bank said today that the total assets will amount to $175, 000, and the total liabilities $110, OOO. If this statement is correct the depositors ought to get dollar for dollar. In that event the only loss would be the depressing effect the affair will have on our city. Let us hope for the best, at least until we known the worst.

3. January 15, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, January 15, 1897

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FLORIDA BANK FAILS. Washington, Jan. 14.-Mr. Coffin, the Acting Comptroller of the Curreney, lia received a telgram stating that the Merchants National Bank, of Ocala, Fle. suspended to-day by resolution of the board of directors. The bank has a cupital of $100,000, and at the date of its report it. owed other banks $8.000. Its individual deposits amounted to $108. 000, and its bills payable to $38,000. Bank Examiner Shubrick has been placed in charge. It is stated that the bank has not been well managed for some time.

4. January 15, 1897 The Morning News Savannah, GA
Article from The Morning News, January 15, 1897

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FLORIDA HAS THREE FAILURES. BANKS CLOSE AT OCALA, ORANGE CITY AND BROOKSVILLE. The Merchants National the One Involved at Ocala and Its Liabilities $154,000-The Orange City Bank a Private Concern Run by the Stillman Brothers-The Failure at Brooksville Brought on by the Assignment at Ocala. Ocala, Fla., Jan. 14.-The Merchants' National Bank closed its doors this morning. To many it was not a surprise, but to the public at large it was, as it was thought it had passed through its worst trials. President McConnell was absent in New York, trying to arrange with its correspondent there to get help. From statements made to the Morning News correspondent by persons, who ought to know what they are talking about, the story runs about in this way: For several weeks there has been a stealy withdrawal of deposits, amounting to about $50,000. Yesterday the climax was reached, about $12,000 being withdrawn, carrying the cash on hand down to $1,500. The directors held a meeting last night, and knowing big demands would be made this morning, decided to close the bank's doors. Long before 9 o'clock this morning a crowd began to gather, many in the hope that the bank would open, ready to demand their deposits. By 9 o'clock several hundred people were around the corner, and when the notice was posted "closed by order of the directors," the excitement became intense. Men wept in disappointment, others gesticulated wildly, and the air was lurid with hot speech, It is a sad and sore blow to Ocala. The people were just beginning to recover from the effects of the freeze, and the failure of the First National Bank, when this new calamity sends them reeling. On Monday of last week the bank examiner was here, went through the bank's accounts and pronounced it all right, at least so the public print expressed. A director said this morning the deposits ran down for the month from $120,000 to $70,000 at its close. It is also learned that a deed executed last August for $13,000 on the bank building to J. N. C. Stockton, a Jacksonville banker, was filed for record this morning before 8 o'clock. It is also stated that President McConnell's property is mortgaged. Business men say it has been next to impossible for the past six months to get any accommodation. The failure hits the Ocala newspaper men for a $1,000, notably F. E. Harris for nearly $800. A winter visitor placed $200 in the bank several weeks ago for his use and others who came to enjoy the climate small sums. While some of the Ocala people are hopeful others are the reverse. Many are finding fault at President McConnell's absence and others that the directors were not better advised regarding the condition of the bank. Washington, Jan. 14.-The controller of the currency was advised this morning by the directors of the Merchants' National Bank of Ocala, Fla., that the bank had closed its doors. The bank had a capital of $100,000. Its liabilities are $154,000, as follows: $108,000 Due depositors 38,000 Borrowed money 8,000 Due to banks Bank Examiner Shubrick has been placed in charge of the bank. Jacksonville, Fla., Jan. 14.-The Orange City Bank, a private institution of which John E. Stillman, chairman of the republican executive committee of this state, is president, has closed its doors, and R. S. Leavitt of Orange City, the assignee, is now in charge. The cashier of the bank was Arthur Stillman, a brother of the president. The Stillman brothers were the principal owners of the bank, and they have assigned all of their property to R. S. Leavitt for the benefit of their creditors. There was no warning of the failure, and within the past few weeks several northern people, who have winter homes in the vicinity of Orange City, have deNo posited various sums in the bank. statement of the assets or liabilities of the bank has yet been announced Brooksville, Fla., Jan. 14.-The Brooksville State Bank has closed its doors tem. porarily on account of the suspension f the Merchants National Bank of Ocala this morning. The losses are pretty general. Confidence, however, remains in the honesty of the officials of this bank.

5. January 15, 1897 The Roanoke Daily Times Roanoke, VA
Article from The Roanoke Daily Times, January 15, 1897

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FLORIDA BANK FAILURE. Washington, Jan. 14.-Mr. Coffin, the acting comptroller of the currency, has received a telegram stating that the Merchants' National Bank, :of Ocala, Fla., suspended to-day by resolution™ of the board of directors. The bank has a capital of $100,000. Its individual deposits amounted to $108,000, and its bills pay. able to $38,000. Bank Examiner: Shubrick has been placed in charge. It is stated that the bank has not been well managed for some time.

6. January 15, 1897 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, January 15, 1897

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THREE CHATTEL MORTGAGES In the Case of an Old Detroit Boot and Shoe Firm. Detroit, Mich., Jan. 14.-The old established firm of H. S. Rabinson & Co., boot and shoe manufacturers, filed three chattle mortgages today, securing creditors for liabilities aggregating $138,365. The first mortgage secures local banks in the sum of $49,000; the second secures the United States Rubber company for $48,780, and the third a large number of manufacturers, mostly in the east, for $41,000. The general business depression is said to be responsible for the rtouble. The assets are hardly sufficient to cover more than the first and second mortgages. Cleveland, 0., Jan. 14.-Robert Lindmuller, a wholesales tobacco dealer doing business at No. 14 South Water street, assigned today to George G. Bowden. Assets are placed at $25,000 and liabilities at $40,000. New York, Jan. 14.-The sheriff today took charge of the stock of David O'Grady, retail dry goods dealer. Liabilities $40.500; assets $50,000. Washington, D. C., Jan. 14.-Mr. Coffin, the acting comptroller of the currency, has received a telegram stating that the Merchants' National bank of Ocala, Fla., suspended today by action of the board of directors. Washington, D. C., Jan. 14.-Comptroller Eckels has gone to Chicago on business connected with the settlement of the affairs of the National Bank of Illinois. St. Paul, Minn., Jan. 14-The receivers of the Bank of Minnesota filed their statement of assets and liabilities late this afteroon. The nominal assets amounted to $3,170,726, and the Habilities to creditors $2,325,522. Includink the cash on hand when the receivers took possession, they now have on hand $165,312. This amount Includes about $21,000 cash realized from deposits on December 22, 1896. Inn

7. January 16, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, January 16, 1897

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Koch, Dreyfus & Co., wholesale dea lers in watches and diamonds in New York city, are in financial difficulties. The liabilities are over $200,000. W. H. Walker, of the Graphite Mines, North Buckingham, Ontario, has assigned, with liabilities of about $140,000. John Claflin, president of H. B. Claffin Company, merchants of New York city, says in his report that "our net profits for the past six months are $103,402, against $859,373 for the corresponding period of 1895. The Standard Fire Company, a West Virginia corporation, with offices in New York city, has assigned for the benefit of creditors. Frank A. Nash, dealer in queensware, &c., at Huntingdon, West Virginia, has assigned. William E. Middlekauff, hatter, Baltimore, Md,, has failed, The Ohio Photograph Company, of Cincinnati, capitalized at $1,000,000, has been put in the hands of a receiver. B. F. Gravely & Co., grocers, Danville, Virginia, assigned. The Seattle, Washington, Savings Bank has closed its doors, owing to heavy withdrawls of county funds by newly-installed officers Monday. The wholesale millinery firm of Joseph V. Clement & Co., Toledo, Ohio, has assigned. The Hanover Distilling Company of Peoria, Illinois, an independent house, has confessed judgment in favor of Robert Strehlow for $34,683. G. S. Kann & Co., wholesale boot and shoe dealers, Baltimore, Md., have assigned. Randolph Humphreys, Mayor of Salisbury, Md., has been declared insolvent. NORTH BELLINGHAM, Mass., January 13.The satinet mill here has shut down for an indefinite period, and it is understood that two other mills owned by the Ray Company will shut down this week. About 350 hands are employed in the mill closed, WOONSOCKET, R. I., January 18.-The Woonsoeket Machine and Press Company has announced a reduction in the running time of its factory here to thirty-two hours per week, beginning Monday next. This will be accompanied by a reduction of ten per cent. in wages. Four hundred people are affected. Hayden & Chester, wholesale dealers in toys, fireworks, stationery, &c., of Providence, R. I., have assigned. In Chicago the Illinois and Wisconsin Lumber Company have made an assignment. The wholesale millinery firm of Joseph V. Clement & Co., Toledo, o., has assigned. The sheriff has taken charge of the stock of Henry Rogers, dealer in millinery goods and novelties, New York, under three executions, A reduction of 15 per cent. in the wages of the employes of the Detrick & Harvey Machine Co., Baltimore, goes into effect Thursday. Dull times and lack of orders necessitated the reduction. At Ocala, Florida, the Merchants' National Bank closed on Thursday. The old established firm of H. S. Robinson & Co., Detroit, Michigan, boot and shoe manufacturers, filed three chattel mortgages on Wednesday securing creditors for habilities aggregating $138,365. The movement which was inaugurated some time ago for the purpose of bringing about a curtailment of production in cotton manufacturing in New England has become active, and steps are now being taken to sound the principal manufacturers on the question. George W. and Horace C. Epley, contractors and builders, of York, Pa., doing business under the firm name of G. W. Epley & Son, have executed a deed of assignment for the benefit of creditors. Ives & McGreen, Baltimore. have assigned.

8. January 16, 1897 The Dalles Times-Mountaineer Dalles, OR
Article from The Dalles Times-Mountaineer, January 16, 1897

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Bank Failure In Ocula Florida W ASHINGTON, Jan. 14.-Mr. Coffin acting controller ofcurrency has received a telegram stating that the Merchants' National bank, at Ocula, Fla. suspended today. Tue bank has a capitol $100,000. At the date of the last report individual deposits amounted to $108,000 and payable bills to $38,000. Bank Examiner Shubrick has been placed in charge. It is stated the bank has not been well managed.

9. January 21, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, January 21, 1897

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five ballots and was declared elected. A communication was read from C. E Eichner tendering his services to the city for the present year free of charge. Davis offered a resolution favoring the appointment of Z. C. Chambliss as receiver of the Merchants' National bank. It WSS unanimously adopted. On motion of Smith, the investigation of the trouble between tax collector Livingston and city treasurer Moody, was proceeded with. On motion of Green all witnesses not testifying were exclud ed from the room. J. H Livingston, jr., was first called and after being sworn by Mayor Bullock, related his side of the transaction. His statement revealed the fact that during the year of 1856, from Mch. 3 to Dec. 3%, he has been depositing the city funds with R. B. McConnel at the Merchants' National cank. At irregular intervals he has been turning same over to Treasurer Moody, At the close of the year McConnell owed him a balance of $2,600. The latter made him a check on the bank for the amount and which, with other checks, amounting in all to $4,000, he turned over to Moody, who gave him a receipt for the amount, but afterwards get possession of the $2,600 receipt and failed to credit it, claiming that the check was made out by McConnel in an irregular way. Mr. Moody was then called and sworn. He testified to having seen McConnell on January 11th in regard to turning over the city fundsin his possession. McConnell said the city script was in New York. He had sent it away for the purpose of entering suit and getting first judgment against the city. When told that a settlement would have to be made at once, he said that if he could not get script in time he would give cash and would issue a check to Livingston so that he could endorse it over to Moody. Two days later when he received the check, it was made out directly to Moody and he refused it on the grounds that it relieved Livingston of all responsibility and was not the kind of a check that McConnell had agreed to give him. He gave Livingston a receipt before examining the check, but afterwards got possession of the receipt and then refused to give Livingston credit until McConnel rectified the mistake. That gentleman was in New York on important business connected with the bank, and meanwhile the bank busted with over $9000 of the city's money and the band started in on another tune. Mr. Bird the special examiner and clerk Blake then gave testimony in regard to the disputed reccipt; how it was secured by Livingston, and how it was afterwards secured by the treasurer. Before any more witnesses were heard the council adjourned until next Tuesday evening when the trial will be countinued. In the , meantime the bank will hold what i money we have, and McConnell will doubtless secure a judgment I agaiest the city, and will collect the principle and interest on our own scrip.

10. January 21, 1897 The Hocking Sentinel Logan, OH
Article from The Hocking Sentinel, January 21, 1897

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Flori'a Bank Suspends. The Merchants' National Bank of Ocala, Fla., has suspended. The bank has a capital of $100,000, and at the date of its las report it owed other banks $8,000. Its individual deposits amounted to $108,000. and its bills payable to $38. 000.

11. January 22, 1897 The Ocala Banner Ocala, FL
Article from The Ocala Banner, January 22, 1897

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GOOD NEWS TO DEPOSITORS. A Telegram from Senator Call says the Merchants may Resume. The following telegram has been received by the editor of this paper which will be good news to all our people and especially to bank depositors. Washington, D. C., Jan. 21st, 1897. To F. E. Harris, Oeala. Comptroller will authorize the bank to resume as now advised and not appoint a receiver. WILKINSON CALL.

12. January 22, 1897 The Ocala Banner Ocala, FL
Article from The Ocala Banner, January 22, 1897

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Wreckage-Bank Items. The Merchants bank failed to open Thursday morning. Friday evening J. A. Rowell and S. R. Birdsey & Co. made assignments, the result of the bank closing its doors Jesse M. Neely is assignee of the first named party, whose assets are $6,562 and liabilities $21,000, of which amount Mr. Rowell owes the Merchants bank, of which he was vicepresident and a director and a member of the credit committee, $7,500, R. B. McConnell, president of the bank, $1,543 and the Park City bank, New York, $4,500. Mr. Samuel R. Birdsey Jr., is assignee of the firm of Birdsey & Co., whose assets are something over $6000 and liabilities $9,198.24; due the Merchants bank, $2,800 and $1000 due President McConnell. The liabilities of the bank are reputed at $154,000 and its assets $170,000. Mr. Shubrick, national bank examiner, who was in Ocala scarcely two weeks ago and then examined the bank is now in charge of the institution awaiting the appointment of a receiver. It has caught a great many people with their all of home folks, while from the outside many were equally unfortunate. So far nothing new has developed. The county and city are large losers by the failure.

13. January 23, 1897 Chicago Eagle Chicago, IL
Article from Chicago Eagle, January 23, 1897

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Florida Bank Suspends. The Merchants' National Bank of Ocala. Fla.. has suspended. The bank has a capital of $100,000, and at the date of its last report it owed other banks $8,000. Its individual deposits amounted to $108,000, and its bills payable to $38,1000.

14. February 12, 1897 The Ocala Banner Ocala, FL
Article from The Ocala Banner, February 12, 1897

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P. Allen is acting as trustee and Z. was made will be the big Chambliss legal fight receiver, result and between the bond holders and the stockholders of the company. Mrs. N. I. Gottleib and little daughter, who have been spending the past two months in Savannah, visiting relatives, returned home Sunday. For the present the Ocala, Silver Springs and Western railroad will run trains as follows: Leave Ocala at 9:30 and 12:30 daily except Sunday. When the hair has fallen out, leaving the head bald, if the scalp is not there is a chance shiny, Hair of regaining Renewer. the hair by using Hall's Tom Harris, son of Hon. F. E. Harris, proprietor and editor of the Banner, has succeeded Mr. C. L. Bittinger as city editor of that paper.-Gainesville Sun. Editor William A. Emmons, known in Ocala as the "sage of Sopehoppy," has into poetry. show the fire productions dropped Some of true his poetic genius. Mr. Winfield Scott Proskey returned Tuesday from an extended trip down the East Coast. He says the travel in that section is very great and daily increasing. The Banner regrets to learn that Dr. Jas. Chase contemplates moving his office to Jacksonville, and trust that he may yet reconsider and remain citizen of the brick city. Jack Hiers, a former postal clerk in the Ocala postoffice, but now in the transfer office of the mai! service at Jacksonville, spent Sunday in Ocala with his brother, B. D. Hiers, Our war ships seem to be entirely ornamental. They act in an ordinary storm like so many tubs. But why should a christian nation at peace with all the world, have war ships? The chemical business of Mr. Carl Elshner having grown to such an extent that he has been compelled to call in assistance, and hereafter the firm name will be Eishner & Evendt. Mr. Phil F. Brown, of the Ocala House, is having the grounds around the hotel greatly improved and beautified by planting a number of palmetto and other trees and shrubbery. Mr. Otto Johanson, who has been connected with the : Ocala Steam Laundry, left Wednesday for Tampa, where he will assist his brother with the management of the Tampa laundry. Amang the lucky drawers of the Ocala Building and Loan association this week were W. B. Goodwin, Dr. C. W. Torrey, Chas. Peyser, R. A. Burford and Mrs. T. J. Owen. The company is as solid as a rock. Messrs. J. M. Chaffer, Peter Olson, James Borland, Solomon Mishlar, G. T. Van Husen and F. W. Bishop, of this county, have been drawn to serve on the United States petit jury for the March term of the court. Fred L. Williams, a former attache of of the defunct First National bank this city, but now with the Florida National Building and Loan association at Fernandina, spent several days in our midst the past week. Any tendency to premature bald- the ness may be promptly checked by use of Ayer's Hair Vigor. Don't delay till the scalp is bare and the hairroota destroyed. If you would realize with the best results, begin at once this invaluable preparation. Bank Examiner E. T. Shubrick, I who has had charge of the Merchants' National Bank since its failure, hav completed his !abore and turned ing the books, assets and liabilities of d over that institution to Mr. G. Chetwynd d Stapylton, receiver, departed for lanta Saturday. The Benevolent Protective Order the of Elks will give a social session at d Masonic temple to-night, Friday d Messrs. E. P. Allen, M. A. Reiche tDr. Jas. Chase compose the commit n entertainment, and the evening affai x promises tee on to be a very enjoyable t for the members of that order, e er A few months ago, Mr. Byron Every badly of Woodstock, Mich., was afflicted of with rheumatism. His caus righ d was swollen the full length, ad g leg him great suffering. He was Balm is vised ing to try Chamberlain's Pain him con d first bottle of it helped effect The and the second bottle size to siderably The 25 and 50 cent Drug Ked are a for cure. sale by Anti-Monopoly 1m Store.

15. February 17, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, February 17, 1897

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ONE FOR JACKSONVILLE. THE MERCHANTS NATIONAL BANK OF THAT CITY CLOSED ITS DOORS YESTERDAY. The Merchants' National Bank of Jacksonville was forced to suspend yesterday. About n on tha same cld notice was found tacked to the door which read as follows: This bank closed by order of the directors. The comproller has been notified." The Metropolis, of that city, in speaking ot the affair, says: "The news quickly spread that the 'Merchants National Bank had closed," and soon quite a crowd gathered in front of the doors, but there was really very little excitement, for the failure was not unexpected, as it had been known ever since the publication of the last bank statement on December 17th, that the deposits in the bank were not as large as they ought to have been One of the principal causes, tco, of this weakness was the failure ot the Merchants' National Bank of Ocale, and many people confounded the two banks, causing many timorous people to withdraw their deposits from the Merchants' National Bank in this city. The bankers of this city were apprised of the serious situation of the bank last Sunday and held a conference and appointed a committee, consisting of Messrs. H. G. Aird, R. C. Cooley, T. P. Denham and B. H. Barnett, to investi gate the bank's accounts. These gentlemen made a thorough examination, and Mr. Cooley, who was authorized as spokesman for the committee, said that it was the belief of the committee, after examining the securities, that depositors would be paid in full, but that it would take some little time. One thing the committee emphasized and that was the failure was not brought about by anything dishonorable. The failure came because the depositors drew out their money faster than the bank could realize on its securities.

16. March 11, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, March 11, 1897

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The inquiries that are being received by G. C. Stapylton, receiver of the Merchants' National bank, indicate an early settlement of the question in favor of a new bank for this city.

17. June 5, 1897 The Morning News Savannah, GA
Article from The Morning News, June 5, 1897

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taxes, F. Vidal Cruz; councilmen, for two years, Frank Murilo, Fernando Figuera-do, Philip H. Collins; councilman for one year, Jacinto Chile. ### Col. T. M. Atkins Died Col. T. M. Atkins died at Orange Home of bronchitis a few days ago. He served a term as representative from Sumter county in the lower house of the Florida legislature, and also a term as doorkeeper of the House. He was a first cousin of ex-Congressman J. C. Atkins of Tennessee, who was Cleveland's commissioner of Indian affairs during his first term. R. B. McConnell, president of the suspended Merchants National Bank, of Ocala, who has been mysteriously missing for the past two months, turned up very unexpectedly Thursday. He left about the time the legislature took up the charges against State Treasurer Collins, and the rumor gained circulation that he was hiding from the investigating committee. At a meeting of the city council at Gainesville Tuesday night the full amount of the shortage of ex-Clerk and Treasurer Sigsbee, as claimed by the special committee, which has examined the books and accounts, was made known. The amount is $3,300 in round figures, with several hundred more in doubt. Mr. Sigsbee admitted a shortage of $2,400, disputing only the minor items of the bill. There is an important book missing, which may alter the situation if it comes to light. W. E. Hutchinson and wife, who live upon one of Capt. C. F. Cane's farms, three and a half miles from White Springs, disappeared very suddenly on May 15. They were last seen on their way home from White Springs. Last Saturday evening news was carried to White Springs that the place was deserted, the house open and their horse in the lot almost starved to death. A thorough search of the surrounding country is to be made. The Hutchinsons came from Georgia. Daytona News-Gazette: A fight to the death between two snakes was witnessed near Daytona last week. A black snake, commonly called a gopher snake, five feet long, had caught a king snake by the neck and twisting its black body about the squirming victim was choking it to death. After the king snake had given up the struggle and its life, the victor proceeded to swallow the vanquished in the approved style. The dead snake was only six inches shorter than the victor, but that did not keep it on the outside, for the gopher snake soon had it down, even to the last tip of the wriggling tail. "On a little coral island some hundred miles south of Florida, a townsman of mine, Capt. Minor, lately captured twenty-four head of seals belonging to a species that were thought to be extinct," said Sewall C. Cobb of Pensacola, Fla., to a Washington Post man Friday. "They are known as the monarch of the tropics, and differ considerably from their brethren found in northern waters. One striking feature is their docility; they make no effort to escape capture, and appear to like to be petted. I have just disposed of a few of them in New York and Philadelphia, and the Smithsonian Institute here has contracted for four. "The capture of these seals was a big surprise to scientific men, who supposed that this species had been exterminated. They are of no commercial value worth mentioning."

18. June 6, 1897 New-York Tribune New York, NY
Article from New-York Tribune, June 6, 1897

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PREFERRED DEATH TO ARREST. A DEFAULTING BANK PRESIDENT COMMITS SUICIDE WHEN THE WARRANT IS READ TO HIM. Ocala, Fla., June 5.-R. B. McConnell, the defaulting president of the defunct Merchants' National Bank, committed suicide this afternoon. He sent a bullet through his brain, and before medical aid could be summoned was dead. The deed was committed at the home of his brother-in-law, W. K. McDonald, where he, his wife and mother were taking dinner. G. C. Stapylton, receiver of the Merchants' Bank, had made some new discoveries in the bank's business that showed badly against McConnell. He at once communicated them to United States Commissioner G. S. Williams, who issued a warrant for McConnell's arrest. This was placed in the hands of Deputy Marshal Clarke, who proceeded the to McConnell's house. He learned there that bank president was dining at Mr. McDonald's He went to the house and read the warrant, when McConnell asked permission to go upstairs to get his coat. A moment later the household was startled by the loud report of a pistol. The officer rushed upstairs only to find Mr. McConnell breathing his last with a hole in the right side of his head over the ear, and the smoking revolver still in his hand. The mother and wife are prostrated with grief. The affair caused greater excitement in the city than even the bank failure.

19. June 6, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 6, 1897

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Banker Kills Himself. OCALA, Fla., June 5.-R. B. McConnell, the defaulting president of the defunct Merchants' National bank, committed suicide this evening by shooting himself when an officer appeared at his home to arrest him on a warrant sworn out by the receivers of the bank.

20. June 19, 1897 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, June 19, 1897

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DOMESTIC. Five men were killed and several badly injured in a collision between a freight train and work train near Hudson, Wis. At Ardmore, I. T., James Williams, editor of the Daily Chronicle, was shot through the heart by Clarence Douglass, a politician. William J. Calhoun, who was sent to Cuba as a special commissioner to investigate the circumstances of the death in prison of Dr. Ruiz, an American citizen. arrived in New York. In an interview Mr. Calhoun said Cuba was rapidly being devastated by a relentless, cruel and bitter civil war. so that in a short time it would not be worth anything to anyone. The fire loss of the United States and Canada for May amounts to $10,193,600, against $10,618,000 in May, 1896. The total loss since January 1 amounts to $52,250,000, against $58,283,300 in the first five months of 1896. At Columbus, O., John C. Short, late receiver of the Lancaster & Hamden railroad was charged with being $71,195 short in his accounts. A hailstorm completely destroyed crops of all kinds north of Rogers, Tex., great damage was done to houses and two persons were killed. Emma Techannan, five years old, was killed by the cars at Defiance, O. She was the third member of the family killed on the railroad within a year. The Wilcox & White Organ company, one of the largest manufacturers of organs in the United States, failed at Meriden, Conn., for $100,000. In referring to the recent fatal riot in Urbana, O., Gov. Bushnell said the members of the national guard only did their duty and were entitled to the support of the state. In a riot at a coal mine in Minonk, III., Andrew Morgan and John Veloski were killed. Rev. Berry Lawson, a Methodist minister near Barbourville, Ky., was shot and killed by his 15-year-old son. The lad was angry because his father had punished him. Jerome Smeathers and his wife and seven children were poisoned at Yedvington, Ky., with paris green. One child was dead, two were dying and possibly none would recover. Joseph Richardson, an eccentric man worth $20,000,000, died in New York, aged 84 years An explosion of fireworks wrecked a building in Chicago, caused the death of Mrs. Maggie Kenney, the injury of nearly 100 persons and a damage of $50,000 to property. Florence Williams killed her lover in McDowell county, W. Va., after a quarrel, and escaped. Both are members of prominent families. W. J. Calhoun, of Danville, Ill., the special commissioner to Cuba, returned to Washington and made his report to the president. The Pennsylvania legislature has passed a bill taxing each unnaturalized adult male employed in the state two cents a day. The reports as to the condition of the crops throughout the country show that cold weather and frosts did damage in many states. R. B. McConnell, the defaulting president of the defunct Merchants national bank at Ocala, Fla., committed suicide. Rear Admiral Samuel Phillips Lee, U. S. N., retired, the last of the commanders of great squadrons during the civil war, died at his home at Silver Springs, near Washington. During the past week wolves and coyotes have slain hundreds of head of calves and sheep in southwstern Kansas and Oklahoma. The exchanges at the leading clearing houses in the United States during the week ended on the 4th aggregated $886,971,775, against $917,628,059 the previous week. The decrease compared with the corresponding week of 1896 was 8.6.

21. July 7, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, July 7, 1897

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OUR CITY FATHERS Held a Long and Important Meeting Last Night-A New Policeman Elected-City in Splendid Sanitary Condition. The city council met in regular Present: session last night. President Livingston, Davis, Green, Waterman, Carmichael, Benjamin and Weathers. Minutes of last meeting read and approved. Moody asked for and was granted till next meeting to complete his bond as city treasurer in an indemnity company. Green moved that City Treasbe receiver's cure urer Moody a authorized certificate to of pro- the for $3,500 from the receiver Merchants' National bank in lieu of certificate of deposit. Carried. L. Communication read from S. Black, asking to run a lunch counter on the streets on the 8th. Refused. Communication read from city council in reference to health ordinance. Archie Jacobs asked that he Re- be allowed to work out taxes. ferred to street committee. Petition asking for rebate on taxes on property for which W. L. Jewett is agent. Referred to finance committee. Petition from General Electric Co., asking to move Eichelberger arc light to North Main street. Referred to light committee. Communication read from Dr. Torrey asking for rebate on his property. Upon motion referred to finance committee. A communication read from J. A. Harris, Panasoffkee, in regard to a scheme to destroy the white fly, the orange pest, in our city. Referred to the Star for publication. An ordinance introduced by Benjamin read to prohibit firing to of fire-works on streets or build bon-fires during holidays without permit from mayor and fire committee. Referred to judiciary committee. An ordinance introduced by Da- of vis to prevent the placing signs, advertisements or bills or upon telegraph, telephone electric light poles. Referred to judiciary committee. The following bills were read and ordered paid: monthly pay roll, $480; Electric Light Co., $235.90; Mrs. Moring, feeding paupers, $9; Ocala Water Co., $1,023.75; election, expense, Even- $5; F.P. Gaffney, $2.75; Ocala ing Star, $1.20; J. D. Williams, $10.35; G. A. Nash, $2.50; Ocala Lime Co., $21.90; G. R. Smith, J. $2; McIver & McKay, $6.20; W. Smoak, $7.50; J. A. Giles, G. $23; S.T. Sistrunk, $4; R. Blake, $2.30; John McCarthy, H. $23.68; A. E. Handley, $1.80; B. Masters, 25c; Hubbard & McDuff, $1.52; G. S. Scott, insurance on market, $45; W. Hunter, $2.50. Report of city officers read and approved. An ably written opinion from the city ottorney was read, bearon the matter of the city's deposited in the ing funds collateral defunct Merchants' bank and as of with the National City bank New York. The report was concise and complete and ordered of filed for reference and thanks tho council was tendered him. Report of city sanitary inspector read showing city in good condition from a sanitary point of view. Resolution by Carmichael asking that cow ordinance be suspended for two months. Ruled out of order. Several reports from the finance committe ordered adopted.

22. July 17, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, July 17, 1897

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Declares a Dividend. G. C. Stapylton, receiver for the Merchant's National bank, that failed just six months ago, sent by express today to comptroller Eckles of the treasury, checks aggregating $15,000, all filled out to the depositors and creditors of the bank, whose claims have been proven. As soon as the checks can be signed and returned to the bank the people who had deposits there can come forward and draw twelve and one-half per cent. on the amount of their deposits. There has been about $120,000 worth of claims proven. The actual deposits in the bank were only about $80,000, but the liabilities were approximately twice that amount. The claim of the state is among those yet remaining unproven. Of course there is money in the treasury for a dividend of this amount on the entire liabilities of the bank and the delinquents will receive their checks as fast as proofs of claims are made. As an example of tardiness or indifference, many claims against the old First National, defunct these two and half years, remain unproven and many of the checks for the first dividend are still on hand uncalled for. In ten days after the failure of our last bank, Mr. Stapylton ably assisted by Mr. Massey, had a complete and comprehensive report of the banks finances ready for the comptroller, who at once issued an assessment of 100 per cent on the capital stock of the bank and out of which a large percentage of the money was collected comparatively very little of the stock was owned in Ocala, excepting that Mr. McConnell was credited with owning about half. To the business talent and superior adaptability. to such work of receiver Stapylton and Mr. Massey his clerk, is due to a large extent the speedy declaration of this handsome dividend, as by proper manipulation of the tangled skein of the banks' affairs and by urging collections on every hand, he was enabled so quickly to give our people at least this much of their much needed money.

23. September 15, 1897 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, September 15, 1897

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That part of the new road south of the S. S. O. & G. in the edge of the county should be fixed at once, or else it will be as bad as the sand roads... Let the commissioners see to it at once and have it fixed up. -Terkeeween-roach, bed bug and ant destroyer-the best on earth. Our own preparation. Tydings & Co. -Rheinauer asks the ladies to wait for his elegant line of fall and winter dress goods. He will send them from New York. -Perfumed Talcum powder, will prevent chaffing and prickly heat. Terkeeween pills the best liver and kidney pills known, 10c a dozen at Tydings & Co's. -Compound Celery Cordial, "C. C. C." will strengthen and restore nerves and lost appetite. A large bottle 75 cents at Tydings & Co's. Fresh drugs and seeds, Your choice 1c. - 12 wood clothes pins, school tablet, 10 slate pencils, best lead pencil, 4 shoe strings, 30 hair pins, paper needles, pockt mirror, 2 hat pins. -The Racket. A præcipe for summons in a suit brought by G. C. Stapylton, receiver of the Merchants' National bank of Ocala, against W. H. DeLong, in the sum of $1,000, was filed in the clerk's office of the United States court this morning. -All public conveyances should be painted anew for the carnival. W. B. Merck has just received a lot of the finest paints and varnishes ever shipped to this city, and he will compete in workmanship with the world. J. A. Mellon left today for Jacksonville to meet his family who will return tomorrow from a two months' visit to their former home in Pennsylvania. -R. A. Hall, the practical painter, paper hanger, kalsominer and glazier, will be glad to do your work. Low estimates made. Address Box 296, city.

24. June 5, 1899 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, June 5, 1899

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NOTICE Receiver's Sale Notice is hereby given that, pursuant to an order made on the 17th day of April, A. D. 1899, by the Honorable James W. Locke, Judge of the UNITED STATES CIRCUIT COURT for the Southern District of Florida, I will sell for cash, to the highest bidder, at public auction, in front of the Court House at Ocala. Florida, MONDAY, THE 12th DAY OF JUNE, A.D., 1899. at 10 o'clock a. m., the remaining assets of the MERCHANTS NATIONAL BANK of OCALA, FLORIDA, excepting only such as are involved in litigation now pending. G. C. STAPYLTON, Receiver of the Merchants' National Bank of Ocala. Florida.