21101. First National Bank (Denison, TX)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
2099
Charter Number
2099
Start Date
October 2, 1873
Location
Denison, Texas (33.756, -96.537)

Metadata

Model
gpt-5-mini
Short Digest
b9e719b1

Response Measures

Accommodated withdrawals

Description

Multiple articles (Oct 2–3, 1873) report heavy withdrawals/run on the First National Bank of Denison but state it withstood heavy runs, paid out currency to depositors, and did not suspend. OCR variants in sources spell city/bank as Dennison or Denizen; corrected to Denison, TX.

Events (3)

1. April 7, 1873 Chartered
Source
historical_nic
2. October 2, 1873 Run
Cause
Macro News
Cause Details
Runs occurred in the broader financial panic of 1873 (widespread banking distress and suspensions) rather than due to a bank-specific scandal or a discrete misinformation event.
Measures
Paid out currency to all depositors; met withdrawals and continued to meet claims.
Newspaper Excerpt
The First national bank of this city and the First national of Denison, Texas, are the banks in the southwest that have not failed suspended. These banks have withstood heavy runs, paid currency to all depositors, and are abundantly able to meet all claims.
Source
newspapers
3. April 30, 1894 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)

Article from Memphis Daily Appeal, October 3, 1873

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Article Text

ny CINOINNATI, October 2.- -There is nothing partic cularly new here in finan cial circles. Thing are working quietly Third street The general markets are overing from their depr and the demand for some definite action relative to an early currency resumption increasing. Fit Subjects for Bankrupt Court. NEW YORK October Judge of Blatchford, complaint Henry Myers. has an order citing George B. Grinnell & Co. to show cause wh should not be declared bankrupts. The firm is enjoined from disposing of property, and the creditors enjoined from selling the securities the firm. A Couple of Panic-Proof Iron Safes, PARSONS. KA. October The First national bank of this city and the First national of Denison. Texas. are the banks in the southwest that have not failed suspended. These banks have withstood heavy runs, paid rency to all deposit and are abund antly able to meet all claims Fever No at Marshall, Texas, LITTLE Rock, October The Ga sette to-night received the following dis patch denying the report of yellow fever at Marshall Texas. October TEX AS, Rock Little The report that we have yellow -fever here false, There none here. HALL, [Sigued] Mayor. Salt Lake Items. SALT LAKE, October 2.- The Territo rial agricultural fair opened here to-day The display animating the fruits and domestic products unusually fine, and the attendance large The semi-annual conference of the Latter-Day Saints will commence Mon day next The purchase of bullion is almost en tirely suspended on account of the tight money market. The weather is grow ing cold. Little Rock The Caire FRIE LITTLE Rock. October Everybody take refuses now money city here in circulation little There greenbacks and the stringency money matters before. known Judge Caldwell, of the United States to refused grant district court, an junction restraining the Cairo and Ful ton railroad company from proceeding with the erection the bridge now ing built across the Arkansas river this point A Couple of Fires. TOLEDO OHIO, October The fire last night destroyed T. N. Trowbridge stave and factory & Sou's barrel ten thousand dollars: insurance four thousand dollars Another fire this morning destroyed the manufactory of moulding and pi ture-frames, owned by Osborn, Chase Swayne also the Toledo pump com and manufactory Russell pany Thayer's novelty works. Loss not certained The New Capitol of Michigan. The October DETROIT new of the the laying Michigan State capitol building Lansing to-day in the pres ence of forty people. under the auspices of the Masonic fraternity and military. The building will cost million three hundred thousand dollars when An able oration was delivered by Hon Wm. A. Howard mainly in review of the history Michigan and a presentation of its reChienge Financially Healthy October Financial CHICAGO and commercial matters here continue imeverything proving, appears and rapidly settling back into normal and healthy The banks are daily increasing in strength and the demand and prices active for higher grain is rumor affoat There this afterset noon fresh outbreak of the financial New York and in of panic Liverpool, but was put in circulation for speculative purposes, and though under its influence wheat dropped on the open board three four cents per bushel, the decline was covered at the close. The Death-List Sh report for Two Days. NEW ORLEANS, October 2. The interment yesterday were John Bertrand white, 38 Charles Herne, age Rev Father Gergard, 42; Miss Bettie McCall 22; Woodruff 30: Charles W Lewis, Edward Schaeffer, 16. The interments to-day were: Johanna Thorn. John Smith 27 John Pierce, Mary Griffin and Whitset Delany no age given Mrs. H Mitchell Lafavette McCall, Mattie Mundy. months Blac ekstone, 19: Henry Dreyfus, Martha Reggens, colored, 22 Total, whites, colored. Financial Matters in Dubuque, Iowa DUBUQUE, October meeting the stockholders of the Merchants national band. C H. Booth cashier. R. Babbage and G. W Mitchell W. Sheffield, to settle the affairs of the bank. Notice was then issued that matured collect ions held by this bank belonging to its corres dents, will be handed to the Commen national bank Dubuque, to whom all letters pertain thereto should be and the notice signed by C H Booth, cashBabbage's defal ation two hunand sixty-seven thousand dollars Sheffield's, sixty-two thousand dollars The Financial at Columbus, Ohio. COLUMBUS October 2. The financial situation begins to look little mixed here. There has been disposition part depositors yesterday and to day to withdraw deposits, and last night the bankers of the city held meeting but two were bank and represented. to was issue agreed -house clearing on the agreement this rangement by the presidents of banks not represe at the meeting. This morning second meeting was held, when word was recei ved that Hayden's bank and Citizens' savings bank declined to go into any for the protection of other banks. and a third meeting will be held this evening. The excitement is increasing Kausas Money Matters. TOPEKA Ks., October At a meeting of the prominent business men of city, were adopted to the effect that the eastern banks having to suspended protect thempayment and the cities which they are located from being drained of purrency such measure has caused the merchants of such cities draw western customers the express companies, demanding payments currency. This draining the west. and the banks of this city which have not suspended, but are doing their best meet all demanda, and sustain our merchants in their payments and as sist in preventing the spread of the panic the west. Wedeem duty to sustain our banks in their efforts,and that we positively decline any collections on us sent through ex press companies official of Admiral Winslow's Death W ASHINGTON, October 2- The folgeneral order lowing announcing the death of Rear Admiral Winslow has been issued NAVY DEPARTMENT WASHIN The department. with deep regret, has nounce to the naval service the Real amiral John Winslow name of this distinguished officer


Article from The Wheeling Daily Intelligencer, October 3, 1873

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KANSAS. PARSONS, Ks, Sept. 2-The First National Bank of this city and the First National of Dennison, Texas, are the only banks in the south west that have not failed or suspended. These banks have withstood heavy runs and paid currency to all, and are abundantly able to meet all claims. A large meeting of the settlers of Osage lands was held yesterday at Osage Mission, at which Gov. Osborn delivered an address on the subject of the relations between the government and the occupants of these lands. The cholera is abating in Dennison, and the people are returning to their homes. There is a large amount of cotton at Dennison awaiting shipment east, but holders cannot move it for lack of banking facilities. The crop of Northern Texas is very fine, and great quantities of the staple will come forward as soon as the financial panic is over.


Article from The Wheeling Daily Register, October 3, 1873

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Article Text

KANSAS. Two Sound Banks. PARSONS, October 2.-The First National Bank of this city, and the First National Bank of Dennison, Texas, are the only banks in the South west that have not failed or suspended. These banks have withstood heavy runs, paid currency to all depositors, and are abundantly able to meet all claims. A very large meeting of the settlers on the Osage lands was held yesterday at Oeage Mission, at which Governor Oeborne delivered an address on the subject of the relations between the Government and the occupants of these lands. Cholera is abating in Dennison, Texas, and the people are again returning to their homes. There is a large amount of cotton at Dennison waiting shipment east, but holders cannot move it for lack of banking facilities. The crops of Northern Texas are very fine, and great quantities of staple will come forward as 8000 as the financial panic is over.


Article from Nashville Union and American, October 3, 1873

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FINANCIAL Geo B. Grinnell Suspended and Bankrupt. Important Decision on Marginal Collaterals. Creditors of a Bankrupt Forbidden to Realize on Securities. NEW YORK, Oct The suspension of George Bird Grinnell & Co.. bankers and brokers, announced This firm is known as Vanderbilts', brok Jud Blatch ford, on complaint of Henry Myers, has issued an order citing them to show cause why they should not be declared involuntary bankrupts. The firm is enjoined from disposing of property, and the creditors en joined from selling securities of the firm. Later. George Byrell Grinnell & Co., who failed to-dav. were successors of George B. Grin nell & Co This house has been in exist ence only month, Mr Geo. B. Grinnell being special partner with one hundred thousand dollars. They were largely in terested in Lake Shore and Western Union, and it is understood that their failure is owing to the heavy shrinkage in those stocks, which they are carrying The late Horace F. Clark was special partner in the old house, and it is said that within & rew days the widow of Mr. Clark has placed a large amount of securities in their hands to enable them to go on. but they were too badly pressed by creditors and were obliged to close The creditors of the firm have been en joined, and the law's tedious delay will probably lock up about 41,000 shares of Lake Shore for least three months, because the par.ies holding these shares for this firm's account are enjoined from selling or disposing in any way of the stock in their Although the immediate effect of this failure has been to make the market ronger, yet the injunction on the holders of collatte rities will crease the diffi culty of brokers in borrowing hereafter, and will render buying on margin nearly impossible. Grinnell says the firm can and will pay every dollar. and that the failure ll not effect other houses to any great extent. It is uncertain whether the firm will resume or not. Washington More Greenbacks for New York. of WASHINGTON Oct The sum $1,681,000 was placed to the credit of the in Third Assistant Pos Genera New York to-day for disburs ment in pay ment of various expenses of the postal service. Three of the banks in the certified check combination have resumed to the extent of paying small checks in currency Forcing Jay Cooke into Bankruptey NEW YORK, Oct. 2. In the case of Simon Kaufman against Jav Cooke & Co., in which the plaintiff applies for removal of Pett Cooke, as ceiver of certain property on the ground of his being an interested party and insolvent, the counsel of Cooke denied that the individ members of the firm were insolvents and the motion was denied. WASHINGTON, Oct. 2.- To day a peti tion was filed in the Supreme Court for the district in the name of Clifford Arick against Jay Cooks and other members of the firm to force them into involuntary bankruptcy. The petition sets forth that the firm is inde ted to him in the amount of 10,500 dollars on certificates of deposi bearing 7 per cent interest, and charges among other acts bankruptcy That on the 18th of September being then bank rupt, they did make payments of money unknown certain parties, petitioners on the plea that they were special deposi tors in order to give them over other depositors, and def and delay the act of bankruptcy. Judge Hump granted the usual warrant, requiring the parties to appear October 10. and answer hy they should not be acjudged bank rupts. Columbus Begins to Feel the Pres sure. financial The COLUMBUS, O., Oct. situation begins to look little mixed here. There has been a disposition on the part of depos yesterday and to day to with draw deposits, and las night the bankers of two ban the held meeting All but city were represented and it was agreed to issue clearing house certif icates, conting the agreem to this arrangements by the at Presidents of the banks not represen the meeting This morning second me ing was held when word was received that Hayden's bank and the Citizen's Savings bank declined to go into any arrangement for the protection of other banks, jand third meeting will be held this afternoon The excitement increasing. Cincinnati Demand ing Resu mption CINCINNATI Oct There is no hing particularly new here in finance m tters Things are working quietly on 3d street The general markets are recovering from the depression, and the demand for some definite action relative to early currency re sumption is increasing Dubuque's Defalcation 8329,000 DUBUQUE, IOWA. Oct. At meeting of stockholders of the suspended Merchants National Bank, C H Booth was electe Cashier vice R. A Babbage, and G W Mitche President, vice F. W Sheffie Id, to settle up the bank affairs. A notice was then issued that unmatured coll ections held by this bank belonging to its corres pondents will be handed the Commercial National Bank of Dubuque, to whom all ad letters pertaining thereto should be dressed. Babbage's defalcation is $267 Sheffield's $62,000, and St. Louis Still Struggling ST LOUIS. Oct. 2.-A large number of merchants of this city have signed circular to the effect that they will receive certi fied checks on St Louis banks. payable through the St. Louis Clearing House, in payment of any indebtedness or for any goods or supplies of any kind that may be wanted of them. It is believed this will restore confidence in all departments of trade and give an impetus to business. The Sonthwest-Cotton in Wait PARSONS. Oct. The First National bank of this city and the First National bank of Denizen, Texas, are the only banks or in the southwest that have not failed suspended. These banks have withstood heavy runs, paid currency to all depositors and are abundantly able to meet all claims is A large amount of cotton at Denison awaiting shipments east but the holders cannot move for lack of banking facilities. The crop in northern Texas very fine and great quantities of the staple will come forward as soon as the financial panic is ove Little Rock With a Pocket full of Nothing. LITTLE Rock, Oct Everybody here now refuses to take the city money. There is little green backs in circulation, and the stringency in money mat: ers greater than ever known before New Orleans feels Much Better NEW ORLEANS.Oct. Currency closed Ster at 2g premium for certified checks ing Bank sight nominal There is a much better feeling in all branch es of business. Philadelphia. PHI PIIIA. Oct. 2.-It is probable that E W. Clark & Co., bankers, will be granted an extension. They propose pay