21143. Merchants National Bank (Fort Worth, TX)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 3631
Charter Number: 3631
Start Date: July 1, 1891*
Location: Fort Worth, Texas (32.725, -97.321)

Metadata

Model: gpt-5-mini
Short Digest: 8edcbff2

Response Measures

Full suspension, Books examined

Other: Two distinct episodes appear: July 1891 (run → voluntary closing and examiner took charge → reopened Sept 1891) and June–July 1893 (suspension/closure, examiner/receiver activity, later litigation and resumption).

Description

In July 1891 rumors caused heavy withdrawals; directors closed the bank and placed it in the hands of the bank examiner. Examiner/officials repeatedly stated the bank was solvent and it was reported to reopen (resumed payments) on Sept 26, 1891. (The corpus also contains later items from 1893 about further trouble and legal suits; those appear to be a separate episode.)

Events (5)

1. February 1, 1887 Chartered

Source: historical_nic

2. July 1, 1891* Run

Cause: Rumor Or Misinformation
Cause Details: Rumors caused heavy withdrawals (about $200,000 within fifteen days), draining deposits; $85,000 withdrawn by foreign loan companies reportedly due to alien land law.
Measures: Directors voted to close and requested bank examiner to take possession; other banks offered aid but directors chose suspension.
Newspaper Excerpt: The trouble began six months ago when rumors caused a heavy withdrawal of $200,000 within fifteen days
Source: newspapers

3. July 20, 1891 Suspension

Cause: Rumor Or Misinformation
Cause Details: Directors, lacking sufficient available cash to meet deposit demands after rumor-driven withdrawals and drainage of currency (alien land law effects), requested examiner to take charge and suspend payments temporarily; examiner declared bank solvent and placed it in his charge at directors' request.
Newspaper Excerpt: The Merchants' National bank by a vote of the directors closed its doors this morning and the bank was placed in the hands of Examiner H. W. Spaulding.
Source: newspapers

4. September 26, 1891 Reopening

Newspaper Excerpt: Condition of the Merchants' national bank of Fort Worth, Tex., on re-opening for business September 26, 1891:
Source: newspapers

5. August 15, 1893 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (22)

1. July 21, 1891 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, July 21, 1891

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LATE TELEGRAMS BCILED DOWN FROM PRIVATE, SPECIAL AND OTHER SOURCES. Railway strike at Paris collapses. Forty houses destroyed by fire in Guadalajara, Spain. Taylor will put up for railway connection with M. K. & T. at Trinity. President Finney, of Soo and South shore, at Minneapolis, resigns. The I. & G. N. receivership meets at Austin Monday the 27th. Governor of Minnesota and sheriff refuse to interfere in the prize fight A. Friedlander, Gainesville china merchant, fails. Two boys arrested at Tracy City, Tenn., for murdering a peadler. The state railway commission gives audience at Dallas to shippers. Jim Huntley wanted in Texas for forgery, extradited at Toronto. Mrs. Maybrick is denied the $10,000 insurance on her husband's lite. Another civil conflict is immenent in Samoa. Laredo is disconsolate over the Sunday law enforcement. San Angelo has shipped 3,000,000 pounds wool this season. Good rains at Belton give assurance of immense cotton crop. The Austin soldiers find running guard for beer rather risky business. The Austin riot is set for today, and the boys will have a circus. Major Ford is medical director of the Austin camp. Llewellen of Waco is charged with criminal assault on a young married woman. Uruguay is threatened with bankruptey. Clarkson says Quay wanted to resign immediately after Harrison's election. Patrick Kelly, Galveston jailer, from injuries received from an insane prisoner. J. S. Schweitzer's will probated at New Orleans; several public charities get from $5000 to $10,000 each. The Tennessee miners canture the militia and convicts and ship them to Knoxville. There will be bloodshed at Bruce. ville, Tenn., over the attempt to work convict miners. Gov. of Tennessee is urged to arrest and punish the miners, who took the camp. The miners threaten to destroy the bridges and burn the railroad if troops are sent Detail ha® been made for court martials at Austin, Major A. W. Houston judge advocate. San Antonio elect, ic ca's are doing temporary duty at Austin during encampment. There are about 2500 men In camp at Austin, one third regulars, the rest militia. Georgetown chautaqua closes, a nd gives a donation of $1,000 to the 80. ciety. Lawyerville, a Michigan lumber town of fifty buildings and mills, destroyed by fire Texas gets her world's fair building site set apart before the money is raised for it. Merchants national bank at Fort Worth is pronounced solvent, and will reopen in 30 days. R. Crain, San Jacinto veteran drowned in the Bosque, at Valley Mills. The Erie threatens to cat central traffic rates unless New England roads stop scalping. Reagan says rates cannot be established to give one place advantage over another. Railway committee is considering grain, cotton, lumber, and salt rates today. Silver is gradually nearing the $1 00 mark on the New York exchange. A revenue vessel will probably be sent to Eastport, Me., to protect American fishermen. Union Investment company of Kansas City, Winner's bursted concern, will be reorganized. Central bank, Kansas City, Kas., fails through failure of the Wyandotte bank. Petition for an Austrian society, to perpetuate national feeling, refused at St. Louis. An immense concourse of St. Paul people protest against the Hall-Fitzsimmons fight. Contract let for grading and ironing the road from Denison to Nebraska state line. Chairman of Chicago and Alton will pay no attention to Western Passenger association rates made without consulting them. Senator Quay has desired to resign as chairman of the republican com-

2. July 21, 1891 Morning Journal and Courier New Haven, CT

Article from Morning Journal and Courier, July 21, 1891

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Another Bank Failure. FORT WORTH, Texas, July 20.-The Merchants' National bank by a vote of the directors closed its doors this merning and the bank was placed in the hands of Bank Examiner Spaulding. Assets, $1,500,000; liabilities, $500,000. The trouble began six months ago when rumors caused a heavy withdrawal of $200,000 within fifteen days, of which $85,000 was taken out by foreign loan companies on account of the alien land law. Spaulding says the bank is solvent and that the depositors and creditors will be fully protected. A movement is on foot to reorganize the bank under the new law. Other banks tendered aid, but the directors concluded best to take the course they did. No other banks are affected and little excitement is exhibited over the suspension.

3. July 21, 1891 Evening Star Washington, DC

Article from Evening Star, July 21, 1891

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Failure of Western Banks. The Merchants' National Bank of Fort Worth, Tex., by a vote of the directors, closed its doors yesterday and the bank was placed in the hands of Bank Examiner Spaulding. The assets are $1,200,000 and the liabilities $500,000. The trouble began six months ago, when rumors caused a heavy withdrawal of $200,000, within fifteen days of which $85,000 was taken out by foreign loan companies on account of the alien land law. Mr. Spaulding says the bank is solvent, with no occasion for a receiver, and he would not have taken such a step except at the unanimous request of the directors. The depositors and creditors will be fully protected. No other banks are affected and little excitement is exhibited over the suspension. The Central Bank of Kansas City, Kan., failed yesterday. The failure was due to the failure of the First National Bank, which was taken charge of by the bank examiner last Thursday. The liabilities are $35,000; assets, $65,000. R. W. Hilliker is the president and cashier of the bank. The bank was organized under the state law.

4. July 23, 1891 The Austin Weekly Statesman Austin, TX

Article from The Austin Weekly Statesman, July 23, 1891

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MERCHANTS' NATIONAL BANK OF FORT WORTH A VICTIM OF THE ALIEN LAND LAW. FORT WORTH, Tex., July 20.-The Merchants' National bank, by vote of the directors, closed its doors this morning and placed it in the hands of Examiner H. W. Spaulding. Assets, $1,200,000; liabilities, $500,000. The trouble began six months ago when rumors caused a heavy withdrawal of deposits. Within fifteen days $200,000 deposits were withdrawn, of which $85,000 were taken out by foreign companies on account of the alien land law. Spaulding says the bank is solvent and he would not have taken charge except at the unanimous request of the directors. The depositors and creditors will be fully protected. A movement is afoot to reorganize the bank under a new name. Other banks tender aid but the directors concluded it best to take the course they did. No other banks are affected and there is but little excitement over the suspension. FORT WORTH, Tex., July 20.-After two days examination of the affairs of the Merchants' National bank it was pronounced perfectly solvent. Talk that the bank was in trouble was raised abroad and the directors, lacking enough available cash to pay "deposits in full, and fearing a run, passed a resolution asking the bank examiners to take possession of the bank. The capital of the bank is $500,000; assets, $1,268,345. Liiabilities, $599,816. Bank examiner Spaulding telegraphed the comptroller of the currency he had taken possession of the bank at the earnest solicitation of the directors. S e The bank officers assign as their prinof cipal cause for the trouble lack of cono fidence and the drainage of currency occasioned by the passage of the alien land law. They further say the bank will reorganize at once and be open for a business inside of thirty days.

5. July 25, 1891 The Historic Times Lawrence, KS

Article from The Historic Times, July 25, 1891

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county, No lives were lost so far as known. THE Merchants' National bank of Fort Worth, Tex., has suspended. Assets reported ample. THE news that the intruder hunt in the Chickasaw country would be abandoned has been confirmed. ONE man was killed and several badly injured by a cave-in at the Pinetucky coal mines, near Anniston, Ala. A BUENOS AYRES letter says: "Intense distress prevails here among the poor. Men are frequently seen picking food from offal heaps. Business people blame English bankers for their policy of propping the Barings and thus protracting the crisis." PRESIDENT BALMACEDA, it is reported, has had shot at Valparaiso, Richard Comming, the son of an Englishman, who was born in Chili. Six lives were lost by the wreck of the steamer Circe on Anticosti island in the mouth of the St. Lawrence. SAM PULLIAM, a negro, has been hanged by a mob at Shelbyville, Ky., for assaulting the wife of Thomas Glenn, a farmer. A PARACHUTE jumper named Love fell 250 feet at Indianapolis, Ind. No bones were broken but he was terribly bruised. THREE laborers were killed on the Atlantic & Danville railway, Mecklenburg county, Va. They were on a handcar and failed to get out of the way of a train. THE hull of the Anchor line steamer Utopia, which was wrecked at Gibraltar some months ago, has been safely lodged on the beach. The skeletons of nine grown up males and several children have been found on the steamer. A STATEMENT prepared at the treasury department shows that the receipts from customs at the port of New York during the first twenty days of July were $6,795,487, or $3,285,551 less than the receipts at the same time during the corresponding period of last year. THE receiver has again failed to dispose of the huge Whitely reaper works at-Springfield, O. THE steamer George Law, which runs from Philadelphia to Gloucester, collided with the Lincoln park steamer Georgiana at the mouth of the Schuylkill river. One man was fatally injured and the Georgiana was laid up for repairs. YELLOW fever has broken out among the crew of the British ship Nigretia, which arrived at Pensacola, Fla., July 14 from Vera Cruz. One death is reported, that of George Rowan, an engineer of London, Eng. THE Hall-Fitzsimmons prize fight at St. Paul, Minn, was declared off in consequence of the general objection and the order of Gov. Merriam calling out the militia. THE Kimball-Champ Investment Co., of Council Bluffs, Ia., has assigned. The capital stock was $300,000. JUDGE WALLACE, of New York, has granted an order suspending the writ of injunction obtained by the Edison Electric Light Co. against the United States Electric Light Co. for a term of six months by the filing by the United States company of a sufficient bond to protect the Edison company. EVERYTHING was at a standstill in the Vanwert (0) yards because of a strike of switchmen. THE Big Four switchmen at Springfield, O., were still on a strike. Most of the men were non-union and the Switchmen's association held aloof. Gov. STONE and Adjutant-Gen. Henry went to Vicksburg to see if they could do anything toward settiing the labor troubles agitating the people of that city.

6. July 25, 1891 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, July 25, 1891

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A CRITICAL MOMENT. TOO MANY FORT WORTH CITIZENS NOT DOING THEIR DUTY. Each Should Put His Shoulder to the Wheel and Help Push the Town Forward-Chamber of Commerce. Editor Gazette. Are there but twenty patriots in Fort Worth? Is it generally known to the 25,000 men, women and children comprising the population of this city that there is but a nandful of men comprising the active members of the Chamber of Commerce? Do the people know that these twenty members are not only contributing their money, but that which is even more valuable than money, their energy, time, labor and business skill, to save this young and promising city from disaster? Did the people, and by people I mean the men, women and children, realize that such was the case, would they not belie their record if they continued to stand idly by, without an offer of assistance, while the twenty patriots stand at the breech, seeking only the salvation of the city from the enemies that beset her within and without? These are pertinent questions, suggested by the threatenings of the hour. Originally the Chamber of Commerce had a good number of valuable members. One by one, for this cause and another, they have fallen by the way-side, until now, only twenty continue to answer to the roll as they put their shoulders to the wheel. What will happen if these twenty grow weary of well doing and faint by the way-side? The alien land law is a calamity; the suspension of the Merchants' national bank is a calamity; how much greater a calamity will it be if the Chamber of Commerce, composed of our own people, loyal to our interests, should fail, should suspend operations? Is it possible that our people understand the situation, and, understanding it, are content? Surely this cannot be true. I have faith enough in our people to believe that they will rise upas one man and come to the rescue of the Chamber of Commerce, and with their means, their work and moral support uphold the arms of the twenty men who are working so nobly for them. for you and for me. If our people cannot contribute money let them give that which they have, their time, labor, or at least their presence when they are called upon for aid in a common cause. ONE OF THE 20.

7. July 26, 1891 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, July 26, 1891

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# FORT WORTH IS HERE TO STAY. The courage of Fort Worth and the nerve of THE GAZETTE are the wonder and admiration of all observers. The suspension of so large a bank as the Merchants' national, honorable as it was, would knock most towns silly for some time, but the Fort never loses a step in the march of progress, and THE GAZETTE never shows a tremor.-[Waco Day. Why not have courage and nerve? A town without failures is a town without life. Of what avail is it to stand and weep? What is, cannot be recalled; disasters such as would have paralyzed some towns have befallen Fort Worth-the death of Huffman, the mental paralysis and death of Brown, the murder of Evans, the tragic deaths of Tatum and Somerville and Roach, the failures of Bateman, Lake and the Merchants' nationanal; the forgeries of Imboden and Mitchell-these and more have befallen Fort Worth, but the town still lives and will live and grow forever. It is not the past with its dire disasters, nor the machinations of rivals organized for action that gives Fort Worth cause to fear or despond, but there is peril in a pessimism and an idle gossip that would bring about more disaster by continually predicting it. Fort Worth is here to stay, and the carpet knights, the boomers when all is fair, the gossips and the selfish cannot stay the city's progress. The men who builded the foundation built it well. Trunk lines and effort will win.

8. July 31, 1891 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, July 31, 1891

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"And So Sav We All." Waco Day. Of the recent failure, in Fort Worth, of the Merchants' national bank, THE GAZETTE says: There is no excitement in Fort Worth, not a ripple on the waves All the officers of the bank are here or on their way home, the bank will be reorganized, we are assured, and the failure has hardly proved a one-day's wonder in this city There is too much to regret in the failure of SO prominent a bank as the Merchants' national, without permitting any er roneous estimate of the effect on Fort Worth to go abroad. The failure was not unexpected-the whisperings had prepared the people for it -and to-day Fort Worth is busy thinking of tomorrow and the work it will bring, rather than of yesterday. That is the true spirit in which to discuss the matter. It was expected, it came, and it is regretted -but there is no crooning over it or killing time by talking about what might have been. It was not the first bank failure in Texas nor will it be the last. Commercial stability and integrity are not to be shaken in any town because of such a happening. Fort Worth has rock-based elements of prosperity and is solid financially. So, too, are Waco. Dallas, San Antomio, Houston, Austin, Galveston and all the sisterhood of Texas cities. There will be no panic, no bating of breath to see "where the next blow falls," but a pull altogether for the better times and a return of confidence that wait in the near future, as surely as sunrise waits behind the first tints of morning light. Let a sister city, recognizing Fort Worth's solvency and capacity to deal with the emergency, repeat the assurance of confidence that is based on the actual facts of the situation. Money may be tight and hard to get in Texas at this time, but the concomitants of real prosperity are here. Our people have raised plenty of food for man and beast, and will have some to spare, The farmer will soon have cotton to sell, and with the wild craze for land speculation placed within bounds. Texas, a year from to-day, will be all the better off for the experience that is now crystalizing.

9. September 27, 1891 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, September 27, 1891

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The Bank's Statement. The followi g is the sworn statement of the financial condition of the bank at the time of resuming payment. It is interesting, as it shows the bank has been perfectly solid all the time, though forced to a temporary. suspension: Condition of the Merchants' national bank of Fort Worth, Tex., on re-opening for business September 26, 1891:

10. May 19, 1893 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, May 19, 1893

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Accused of Bank Wrecking. FORT WORTH. Tex., May 19.-A petition of 4,500 words from Portwood and other stockholders of the Merchants National bank of Fort Worth asks for a receiver for the-bank and an injunction to prevent the-officers from longer acting. The petition alleges bribery nd.conspiracy to wreck the bank.

11. May 19, 1893 New-York Tribune New York, NY

Article from New-York Tribune, May 19, 1893

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SUIT FOR A RECEIVER FOR A TEXAS BANK. Fort Worth, Tex., May 18.-In a petition of 4,500 words, Portwood and other stockholders of the Merchants' National Bank of Fort Worth ask for a receiver for the bank and an injunction to prevent the officers from longer acting. The potition alleges bribery and conspiracy to wreck the bank Specific instances of alleged misuse of the assets of the bank are set forth in the potition. and the taking of bribes by officials of the bank. About ten of the thirty plaintifs are of Adrian, Mich.: a similar number are of Indiva and others are of this city. The filing of the suit caused A great surprise and sensation. all the officers. directors and stockholders who are not plaintifts being joined in the suit.

12. June 6, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 6, 1893

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the city, and has a paid-up capital of $150,000. A. M. Cannon is president. Washington, June 5.-Comptroller Eckles has received information that the Merchants National bank, of Fort Worth, Tex., with a capital of $250,000, failed today. New York, June 5.-The Canal Street bank is in financial trouble. Kansas City, June 5.-The Kansas grain company, a big commission house with branches all over Kansas, has failed. The officers decline to make any statement. Sandusky, O., June 5.-The savings bank here was put in the hands of a receiver this morning. Philadelphia, June 5.-Washington Butcher & Sons, an old established house in the provision trade, have made an assignment. No statement was made as to the assets or liabilities. The tightnes of the money market was the cause of the failure.

13. June 6, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, June 6, 1893

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BANKS IN TROUBLE. Runs on Some, and Some Close Their Doors. MADISON, Wis., June 5.-There was a small run on the First National bank today, but not enough to cause any great excitement. The bank's balance at the close of business Saturday showed $259,000 on hand to meet demands, and the officers of the bank are not at all alarmed. PORTLAND, June 5.-Private advices from Spokane, Wash., state that the Bank of Spokane, the oldest in the county, has suspended. It was one of the smaller banks of Spokane. MILWAUKEE, June 5.-There was a slight run on the South Side Savings bank this morning. It was a slight holdover from Saturday. By noon, however, whatever slight excitement there was had subsided. Cashier John B. Kooting stated that they expected no trouble; that they were taking advantage of the thirty-days rule, and that the bank was in a perfectly safe condition. NEW YORK, June .-The Shoe and Leather National bank gave notice that it would not clear for the Canal Street bank after tomorrow. This will make it necessary for the Canal Street bank to go into liquidation. Its deposits are about $450,000. WASHINGTON, June 5.-Comptroller Eckels was informed today that the Merchants' National Bank of Fort Worth, Tex., capital $250,000, failed today. The bank was closed on an order from the directors, and Bank Examiner Stone was placed in charge. SANDUSKY, O., June .-The doors of the Sandusky Savings Bank company, which closed Saturday night, and what was generally supposed to be one of the soundest and safest institutions of the city, were not opened this morning, but displayed the following announcement that it had been compelled to assign. The present trouble is ascribed directly to the heavy, though groundless, run that was made on the bank about ten weeks ago, and which it withstood successfully at that time, paying out upward of $60,000 within two days, when the run ceased as suddenly as it had begun. The available assets of the bank will aggregate fully $300,000, while the liabilities, at an outside estimate, are only $205,000, and it was for that reason that an assignment was decided upon rather than a receivership.

14. June 7, 1893 The World Martinsburg, WV

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CONDENSED NEWS. Cathered From All Parts of the Country By Telegraph. The number of army officers at the World's fair is to be increased. It is estimated that the late Presbyterian General assembly cost $50,000. Colored men refused to take the places of white strikers on the Kansas & Gulf railroad. Miss Sadie Young is missing from Kent, O. Her mother fears there is a young man in the case. The New York anti-cruelty society will prevent the,proposed Spanish bull fights to be held in Madison Square garden. A terrific cyclone swept over Bristol, Tenn, demolishing five houses, and doing $200,000 worth of damage. Two men were injured. The bank of Spokane Falls temporarily closed its doors Monday morning. The suspension caused no excitement. The bank is the oldest in the city. A strange man who applied at a Racine, Wis, boarding house for accemodations, is believed by some to have been Schaffner, the missing Chicago banker. It is claimed that Rev. Dr. Edward McGlynn is doing penance at Gethsemane, the Trappist monastery at Bardstown, Ky., and has not sailed for Rome, as reported. Hugh Ross, the prosecuting witness against the Carnegie officials, says his side was not treated fairly by three of its lawyers, and that the suits were dismissed without his consent. The journals of Rome, recognized as organs of the vatican, concur in denying that the pope has modified the scholastic policy heretofore enunciated in regard to the United States. The Merchants' national bank, Ft. Worth, Tex., with a capital of $250,000, failed Monday. The bank was closed on an order from the directors and Bank Examiner Stone was placed in charge. The board of directors of the Capital national bank of Indianapolis, which suspended two weeks ago, at a meeting Monday voted to resume. The date of resumption was not fixed, but it will be within the next three weeks. Miss Lulu Wilcox, who until $ year ago was a Sister of Mercy connected with the Convent of Mt. St. Joseph, in Hartford, Ct., was married Monday morning in St. Francis Xavior's Catholic church, Now York, to Dr. Thomas B. Conlon, of Brockton, Mass. Sixty-six of the waiters employed in John Wanamaker's restaurant, Philadelphia, went on a strike Monday, on account of a refusal of B1 advance in wages and better food. The all-day men received $5 and the dinner-relief $3.50.

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

Article from Fort Worth Gazette, June 9, 1893

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A NEW TRIAL. THE FEDERAL COURT WILL BE ASKED FOR A RECEIVER. To Vote on the Question of Voluntary Liquidation of the Merchants' National Bank. Late last evening a Gazette representative called on Mr. A. B. Smith. cashier of the Merchants' National bank, in regard to future action in the bank matter. In referring to the organization of a new bank, Mr. Smith said: The organization of a new bank will not go into effect until the Merchants National bank goes into liquidation. Under the national bank act. the law requires that sixty days notice be given the public before such action can be taken. The proper notice of proposed liquidation will be sent to each and every stockholder in order that the stock may be fully represented at the stockholders meeting to vote upon the question of voluntary liquidation. "In the matter of liquidation it will be the purpose of the officers of the bank to wind up the aff ilts as soon as possible, but as a large portion of its assets is in real estate, it will necessaril take considerable time to dispose of it to the best advantage to the association. Each and every stockholder's interest will be fully protected and as large results as possibly can be obtained out of the assets will be distributed pro rata among the stockholders. Mr. Smith says that he and his associates have decided to test their rights in the courts against the parties making the charges, and swearing to the same in the recent case of application for a receiver for the Merchants' National ) bank, which has just been decided by Judge Greene in favor of the bank. Referring to the proposed new bank, Mr. Smith said he was not yet able to give the details, but said that the capital stock would be not less than $200,000, Last night a reporter of The Gazette called at the residence of D. Portwood, one of the complainants in the suit recently brought against the bank. asking the appointment of a receiver for the Merchants National bank, and asked how the recent opinion of Judge Greene refusing to appoint a receiver suited the stockholders who brought the suit. Said he: "The opinion does not give satisfaction at all: we, with the non-resident sharen holders, are not at all satisfied, as we d believe the allegations set forth in our 1 petition sufficiently strong to have a reS ceiver appointed. So far as resident stockholders are concerned, they are out 0 of the case in a measure, but you can rest assured that the not-residents are I in the tight to a finish, and within a few . days a suit will be filed in the United States court at Dallas, asking the ap n polutment of a receiver. Mr. Portwood refused to be quoted as 1 having anything further to say ou the d question for the present. it

16. June 10, 1893 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, June 10, 1893

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C. MINING, treasurer leaving of Fort a Jennings, JOHN O., disappeared, shortage persons of $15,000. were killed and which two FOUR injured in a cyclone Washfatally Wharton county, Tex. 100, swept ington Jenkins, a colored man aged was among were the killed. killed and two others were Two mortally MEN wounded at a primary election in Pineville, Ky. FURNITURE manufactories in employ- Cincinsome seventy in number, down, nati, 7,000 persons, have shut workmen ing owing to the demand of their for a nine-hour magazine day. of the Hecla Powder exTHE near Virginia, Minn., in town ploded. company Nearly every building was wrecked. Cox was killed and three fire- at CHIEF and one citizen fatally injured house of men burning of the furniture The Charles the Shiverick & Co., in Omaha. loss was $200,000. property BUSH (colored) was taken from SAM at Decatur, 111., by indignant criminally Mount jail Zion citizens and hanged for assaulting the wives of two farmers wife WILLIAM BENTE and his and Bente, Helen W. Dietz and burning Charles Elsie Pugsley lost their lives by the of building in New York. HERMAN a SCHAFFNER & Co., of Chica- bankthe oldest and largest private ers go, in the west, failed for $500,000. AUGUSTUS VICTORSON and Thomas the G. McLaury committed suicide at The Hotel Metropole in Chicago. was a wealthy Chicagoan New and former latter a wealthy resident of as Orleans. the Despondency was given the in both cases. THE cause gold reserve in the United States $90, treasury had on the 3d fallen to 000,000. SIXTEEN passengers were injured, near some fatally, in a railway disaster Poplar JOHN Bluff, McQUAID. Mo. John O'Connor and in Jane Mooney committed suicide Philadelphia in one day. THE attendance at the second Sunday of the world's fair grounds The opening was disappointing to the officials. The govadmissions were 54,304. ernment paid building, many of the exhibits eastern in other buildings and all the state buildings were closed. FIVE residents of northern Vermont Chinese arrested for smuggling were into the United States from Canada. A CYCLONE swept the northwestern of Wayne county, Ind., destroying were everything part in its path. No lives lost. THE Fisher & Burnett Lumber company. with headquarters at Memphis, Tenn., failed for $500,000. THE village of Woodington, O., was leveled by a cyclone persons were almost and many entirely injured beneath and Mrs. Mary Smith was killed her building. f THE E. A. Armstrong company. man- and ufacturers of and dealers in society for i military supplies in Chicago, failed $100,000. private banking house of MeadBros. in Chicago and were made by oweroft THE runs frightened suspended, depositors upon the Bank of Commerce, the i the Prairie state national bank, Prairie State Savings and Trust com- Hithe Union trust bank, the and bernian pany, bank and the Illinois trust savings bank, but these institutions met all demands promptly. THE office of the Hustler, a paper in 0 Breathitt county, Ark., that advocated by S local liquor license, was blown up dynamite. NEARLY 400 delegates were in attend- the at the opening session of t world's ance temperance congress in Chicago. in THE greatest gas well ever struck miles the Ohio field was drilled in 7 6 north of Findlay. IN a runaway at Kalamazoo, Mich., Mrs. L. A. Fagan was thrown from a wagon and killed and Mrs. T. W. Mur- inphy and Mrs. Ellison were fatally e n jured. THE fire loss of the United States and Canada for the month of May is estimated at $10,427,000. This is about million greater than the aggregate for May. 1882. f THE president authorizes the statement that he will call an extra session of congress early in September. Two MEMPHIS (Tenn.) switchinen s riding on the footboard of an engine were killed by the locomotive jumping the track and burying itself in an embankment. , THE People's bank at Bentonville, S robbed by six men of $10,000. 1, Kansas Grain company at e sas Mo., which claims to Ark., THE City, was be Kan- the a greatest buyer of grain from producers in the world, has failed. y REPRESENTATIVES of twenty-five state and territorial governments met in Chicago and organized a convention for trade the abolition of trusts, corners and 1, combinations of all sorts. THE Merchants' national bank of e Fort Worth, Tex., with a capital of $250, 000, closed its doors. e EDWARD SIMON & BRO., trunk. valise N e and bag manufacturers at Newark, J., failed for $250,000 a POTTER & POTTER, of Boston, pub e lishers of the New England Magazine d Yankee Blade, Wom in's Home Jour nal, American Vehicle and the Ames bury Daily, failed for $100,000.

17. June 16, 1893 Shenandoah Herald Woodstock, VA

Article from Shenandoah Herald, June 16, 1893

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South and West. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash, and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster seaused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadoweroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed. THE Infanta Eulalia reached Chicago from New York: much enthusiasm was shown by the crowds that lined the route from the railroad station to the hotel. A SKIFF containing Alexander McCloud and Robert Anderson was upset in a whirlpool at Boundary City, Wyoming. The men were drowned. SERGEANT O'LEARY, of the United States Army, was shot and mortally wounded by Private Roberts, in Fort Sherman, Idaho. Jealousy over promotion was the cause. THE New Albany (Ind.) Banking Company has suspended payment. MAYOR HARRISON. of Chicago, gave a breakfast and reception for the Infanta she was the guest of President Higinbotham, of the World's Fair Directory, in the evening. THE business portion of Fargo, North Da. kota, was destroyed by fire: 2200 people were rendered homeless. Loss, $2,000,000. FIRE broke out on Page street between Baker and Lyon streets. San Francisco, Cal., and in less than an hour a whole block had been totally consumed. Three firemen were instantly killed by falling walls. THE Princess Eulalia paid her first visit to the World's Fair, going to the grounds in the afternoon and again in the evening.

18. June 16, 1893 Fisherman & Farmer Elizabeth City, Edenton, NC

Article from Fisherman & Farmer, June 16, 1893

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South and West. THE Old Kentucky Home at the Chicago Fair Grounds was dedicated. It is the Blue Grass State Building and one of the most attractive in the grounds. Miss Enid Yandel's statue of Daniel Boone was unveiled. AT the Sisseton Agency, South Dakota, Miss Cynthia Rockwell, an Illinois teacher at Coodwill Mission. has married Richard King, an Indian, studying for the Presbyterian ministry. THE Plankinton Bank in Milwaukee, Wis., closed its doors. The bank had loaned $200,000 to F. A. Lappen & Co. and the Lappen Furniture Company, and this was the principal cause of its suspension. THE Victoria Cordage Company, Cincinnati, Ohio, members of the Cordage Trust, has assigned. Assets, $500,000 liabilities, $400,000. TORNADOES did great damage to property in Mississippi, Tennessee, Arkarcas and Kentucky. At Rosedale, Miss., W. L. Bawdre and wife were killed. IOWA Prohibitionists nominated a full State ticket. THE members of the graduating class at Annapolis (Md.) Naval Academy, forty-four in number, received their diplomas at the hands of Secretary Herbert. W. V. N. Powelson, of New York, received the honors of his class graduating No. 1. A RECEIVER was appointed at Charleston, W. Va., for the Norfolk and Western Railroad. DURING a heavy rain storm fire was discovered in a block on Farnumstreet, Omaha, Neb. The entire city Fire Department was called to the scene. A high wind was blowing. One of the walls fell on seven firemen. Five of them were instantly killed. WHILE a primary election was held in Bell County, Kentucky, by the Democratic party, excitement ran high, and in a fight at Pineville, the county seat, John Jones and Levi Hoskins were killed and two others were fatally injured. OWING to a storm less than 60,000 persons visited the World's Fair on the second Sunday opening. TWENTY-FIVE men walked into Decatur, Ill., a city of 22,000 people, and lynched Samuel Bush on the principal street without opposition. Bush was a colored man accused of assaulting two white women. AT Chicago, Ill., Herman Schaffner & Co., private bankers, made an assignment. Schaffner & Co. have been the largest private bankers in the Northwest, dealing exclusively in commercial paper. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash. and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadowcroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed.

19. July 27, 1893 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, July 27, 1893

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LATE TELEGRAMS BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. Mexico is coining 20 cent pieces Hillsboro has a seduction sensation. Mexico's army numbers 35,000 men. Mason has rain enough to settle the dust. Miller, of Dallas, is due to hang tomorrow. Rockport grapes are nearly all marketed. Cotton is eoming into Seguin quite lively. Many of the suspended banks are resuming. Two Swedish missionaries murdered in China. Ticknor & Company, publishers, Boston, assign. Ten cases cholera and six deaths daily in Moscow. Quarantine station, Alexandria, free from cholera. Nothing definite determined as to blockading Siam. Mexican murdered by his mistress in Kerr county. Spreckels backs queen Lil for the throne of Hawaii. Interoceanic railway earnings last week were $38,000. Confederate reunion at Floresville is a pleasant one. Epidemic in Vera Cruz caused by bad drinking water. Average loss of life in the Hidalgo mines is three daily. The Italian pilgrimages are inhibited owing to cholera. The first fight in congress will be over the adoption of rules. Cleveland has the gout and is threatened with apoplexy. Forged securities get away with $50,000 Chicago bank funds. Steamer Pearl sunk in a collision off Irish coast and 7 drowned. Willis P. Green, of Albia, shoots himself, probably an accident. Those Choctaw executions are suspended until September 5th. Number of employes in Federal district, Mexico, will be reduced. Vessels from Naples are quarantined five days at Constantinople. Spanish steamer San Juan, for Manilla, burned and 221 lives lost Colored child 4 years old poi soned at Galveston by eating ratsbane. Mitchell's Bank, Milwaukee.has paid depositors over $2,000,000 this month. Harrison Alexander kills Tom Moore at Carmona, for slandering his wife. Germany is happy over the prospect of trouble between France and England. Farmer's National bank of Henrietta will probably resume withOI u! Rumor of cholera, at Chester, Pa. The victim a new arrival from Austria. Merchants' National of Fort Worth pays its stockholders 75 per cent of capital. State bar meets at Galveston and are entertained by Attorney Terry, of the Santa Fe. John Spradley arrested at Bryan for murder committed 16 years since in Alabama. Two persons killed, 5 hurt and 7 houses demolished by a hail storm at Alamistlan. Commons defeats motion to col-

20. July 28, 1893 The Durham Daily Globe Durham, NC

Article from The Durham Daily Globe, July 28, 1893

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IN THESE days of suspensions and failures it is gratifying to note that many of them are due only to temporary embar rassments and that many of the reputed bursted banks are over their trouble and are again doing business. Among those which have re opened during the last few days are: Gate City National Bank, At lanta, Ga.: First National Bank, Los Angeles, Cal.; First National Bank, San Diego, Cal.: First National Bank, Santa Anna, Cal; First National Bank, San Bernardino, Cal: the Southern California National Bank, Los Angeles, Cal: Merchants' National Bank, Fort Worth, Tex.; Second National Bank, Ashland, Ky.; Capital National Bank, Indianapolis, Ind: First National Bank, Palouse City, Wash; Washington National Bank, Spokane Falls, Wash; National Bank of Commerce, Provo City, Utah, and First National Bank, Cisco, Texas.

21. July 29, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 29, 1893

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It is to be observed that in twenty-one States and Territories there have been no !ailures of National banks, viz: In Alaska, Arizona. Arkansas, Connecticut. Delaware, District of Columbia, Idabo, Indian Territory, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New-Jersey, Pennsylvania. Rhode Island, South Carolina, Vermont, Virginia and West Virginia. It is further worthy of note that no National banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, Buffalo, Cincinnati. St. Louis, New-Orleans, San Francisco, Minneapolis, St. Pan! and numbers of other great commercial centres: and that but one has closed in New-York, two in Chicago. and one In Milwankee. The cause of the failures in NewYork and Chicago was due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks failed were robbed by officials who are now under arrest. The following National banks have been authorIzed by the Controller of the Currency to resume business: Gate City National Bank, Atlanta, Ga.: First National Bank. Los Angeles, Cal.: First National Bank, San Diego, Cal.: First National Bank, Santa Ana, Cal.: First National Bank, San Bernardino, Cal.: Southern California National Bank, Los Angeles, Cal.: Merchants' National Bank. Fort Worth, Tex.: Second National Bank, Ashland, Ky.: Capital National Bank, Indianapolis.: First National Bank, Palouse City, Wash.: Washington National Bank, Spokane Falls, Wash.: National Bank of Commerce. Provo City, Utab: First National Bank. Cisco, Texas: Missouri National Bank, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent, and only closed through an unwarranted lack of confidence in them, causing disastrous runs. Resume: Number now in operation, 3,785: number failed since January 1, 1893. 105; number reopened, 14: number In hands of receivers, 33: number In hands of Bank Examiners, with application to Controller for resumption, 58.

22. August 3, 1893 River Falls Journal River Falls, WI

Article from River Falls Journal, August 3, 1893

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SusNo. now Sus. No. now in or pendpend. in oned. eration STATE ed. eration. STATE. 5 132 Nebraska 29 1 Alabama 22 5 Nevada Arizona 2 51 N. H'pshire. 10 Arkansas 102 26 6 New Jersey. California 1 10 15 New Mexico. 38 Colorado 2 335 New York 84 Connecticut 23 1 N. Carolina 18 Delaware 3 % N. Dakota 13 Dist. Colum 2 241 17 2 Ohio Florida 5 29 3/Oklahoma Georgia 38 2 13 Oregon Idaho 213 3 Penasylvaia. 397 Illinois 59 3 Rhode Isl'd 115 Indiana 6 14 S. Carolina Indian Ter 22 40 28. Dakota 168 Iowa 3 51 6 Tennessee 136 Kansas 7 223 6Texas 81 Kentucky 3 10 20 Utah Louisiana 49 83 Vermont Maine 36 68 Virginia Maryland 10 269 Washington. 61 Mass'ch's'ts 30 2 101 W. Virginia. Michigan I 80 Wisconsin 77 Minnesota 12 1 I 12 Wyoming Mississippi. 3 76 Missouri 105 Totals 6 3,785 31 Montana "It is to be observed that in twenty one states and territories there have been no failures of national banks, viz: In Alaska, Arizona, Arkansas, Connecticut, Delaware, District of Columbia, Idaho, Indian territory, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and West Virginia. "It is further worthy of note that no national banks have failed in Boston, Brooklyn, Philadelphia, Pittsburgh, Baltimore, Washington, Buffalo, Cincinnati, St. Louis. New Orleans, San Francisco, Minneapolis, St. Paul and numbers of other great comme cial centers, and that but one has been closed in New York, two in Chicago and one in Milwaukee. The cause of the failures in New York and Chicago were due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks named were robbed by officers who are now under arrest. "The following nation al banks have been au thorized by the comptroller of the currency to resume business: Gate City national bank, Atlanta, Ga: First national bank, Los Angeles, Cal: First nat ional bank, San Diego, Cal: First national bank, Santa Ana, Cal: First national bank, San Bernardino, Cal; the Southern California national bank, Los Angeles, Cal: Merchants' national bank, Fort Worth, Tex: Second national bank, Ashland, Ky.: Capital national bank, Indianapolis, Ind.: First national bank, Palouse City, Wash: Washington national bank, Spokane Falls, Wash National bank of commerce, Provo City, U. T.; First national bank. Cisco, Tex.; Missouri national bank, Kansas City, Mo. "Many more will reopen, as the majority of those recently failed are absolutely solvent and only closed through an unwarranted lack of confidence in them. causing disastrous runs. From the foregoing the comptroller makes the following resume, showing that when the full extent of banking in this country is considered the failures are proportionately small: 3,785 Number now in operation. 105 Number failed since January 1, 1893 14 Number reopened 33 Number in hands of receivers Number in hands of bank examiners, with application to comptroller for resumption 58 NEW YORK, July 29.-R. G. Dun & Co.'s review of trade says: "The hardest week yet has left the business world still able to rejoice in the soundness and strength disclosed. No banks here or at other eastern cities and no eastern firms of large importance have gone down. but several banks failed at the west. But through all the strain the banks of New York have passed without trouble, and imports of gold have commenced. "From $1,000,000 to $2,000,000 in money has been sent west every day and a large decrease in bank reserves is expected, as the treasury has not been disbursing heavily. Chicago has drawn heavily on New York, but in that and other cities bank statements indicate creditable soundness. "Grain rose briskly on Monday, but all speculative markets yielded a little when tight money came and the slaughter of stocks. Wheat closed about 1 cent lower. though western receipts were moderate. Corn is a fraction lower, as are some hog products. Cotton has declined an eighth, though receipts are a little larger and exports smaller than last year, but holders show great stubbornness in view of the large stocks in sight and the closing of many mills. In other products no special change is reported, though prices tend lower. "Many wolten factories are closing for a month or more or indefinitely, because orders are slack, for while jobbers' orders are about as usual clothiers still hold off. Fall trade is said to be not more than a third of the usual, and many dealers expect to do no more than half the usual spring business. Orders for boots and shoes are restricted. Shipments from the east are 12 per cent. less than for the same week last year. "Failures during the last week number 386 in the United States, against 171 last year and 23 in Canada, against 22 last year. It is noteworthy that only three failures were of capital above $200,000 each and only ninety-nine of capital over $5,000. Over fifty banks stopped during the week."