21274. First National Bank (San Marcos, TX)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
3346
Charter Number
3346
Start Date
August 22, 1893
Location
San Marcos, Texas (29.883, -97.941)

Metadata

Model
gpt-5-mini
Short Digest
530917a5

Response Measures

None

Description

Contemporary newspapers report that the First National Bank of San Marcos suspended payment by order of its directors on Aug 22, 1893 because it could not realize on its paper (illiquid assets). Controller Eckels permitted the bank to reopen around Aug 28-29, 1893. No run is described in the articles.

Events (3)

1. May 28, 1885 Chartered
Source
historical_nic
2. August 22, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank unable to meet payments because its assets were tied up in paper (loans/receivables) — 'more than two and one half times the amount required' to realize before paying depositors.
Newspaper Excerpt
The First National Bank suspended payment yesterday by order of the directors. Notice was given that the depositors will be paid in full as soon as the bank can realize on paper, of which there is more than two and one half times the amount required.
Source
newspapers
3. August 28, 1893 Reopening
Newspaper Excerpt
The First National Bank of San Marcos, Texas... have today been permitted to reopen their doors for business: ... First National Bank, San Marcos, Tex., $80,000.
Source
newspapers

Newspaper Articles (18)

Article from Asheville Daily Citizen, August 22, 1893

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Paper, But no Money. SAN MARCOS, Texas, Angust 22.-The First National bank has suspended. Notice was given that the depositors would be paid in full as soon as the bank can realize on paper, of which there is more than two and one half times the amount required.


Article from Fort Worth Gazette, August 22, 1893

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TEXAS MATTERS. I WASHINGTON, Aug. 21.-Comptroller Eckels today received notice of the suspension of the First National bank of San Marcos, Tex., and ordered Examiner Gannon to go there at once. One fourth-class postmaster was appointed for Texas today at Granite Mountain, Thos. Darrah, Jr., vice N. L. Norton, resigned. Messrs. J. H. Stubbs of Galveston, J. L. Moody of Tyler and C. S. E. Holland and wife of Victoria, were Texas visitors at the capitol today.


Article from San Antonio Daily Light, August 22, 1893

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e LATE TELEGRAMS r BOILED DOWN FROM PRIVATE d SPECIAL AND OTHER n SOURCES. The Kansas coal miners strike is still on. Pittsburg works resume that employ 1,500 men. Georgetown markets several bales of cotton at 61. Two more of the suspended Denver banks open their doors. Victoria is in darkness, her electric light plant being n. g. Italians are attempting to create anti-French riots in all the cities. President Diaz preserves a strict neutrality in the Coahuila election. Knox, the American jewelry crook, in Mexico, will have a new trial. New York longshoremen strike against a 25 per cent reduction in wages. Swede and Irish factions in Denver have a fight and three will wink out. Diaz is petitioned to grant amnesty to the political prisoners in Belem prison. English government says that the single standard money goes in India all right. The First National bank of San Marcos suspends but will resume in thirty days. The shrine of the Virgin Guadalupe, near City of Mexico, is visited by 2,500 persons. Major John C. Lulleman, prominent St. Louis real estate and bank director; suicides. Female anarchists in New York harangue the crowd, urging resistance to the police. Serious apprehensions are felt in Wales over threatened mining attack by idle miners. New York delegates to the Chicago bimetalic meeting hold an enthusiastic c onference. Will Perry, ex-clerk of the county court, Denver, is in Eutope, his accounts $22,000 short. Gladstone'carries his motion for cloture without a division and it will be enforced Friday. Republicans carry the French elections three to one over all the other parties combined. French troops are in readiness to protect the Italian workmen in the Aiguas Mortes work. There is no yellow fever on the Florida coast, but a new case is reported at Brunswick, Ga. Cuban revolutionists proclaim that there will be another revolution in the island speedily. Italian minister in Paris expresses regret over the state of feeling in his country against France. Norwegtan bark, from Cuba, is quarantined at Wilmington, N. C., death from yellow fever having occurred. American steamer from Liver80% pool to Philadelphia is held at quarantine, but for what cause is not known. U. S. Deputy Marshal Hall arrests mule smuggler, Escobal, at Laredo after the smuggler had the drop on him. Garza Galan has a strong personal following in Coahuila as well as Cardenas, and his reelection is not improbable. Sheriff and deputies from Karnes county round up some cattle thieves in Wilson county, but do JO not capture them. Ed Nall, fool crazy with jealousy, S shoots Miss Ida Beatty, her escort J. W. Bly and kills himself, a few miles from Palo Pinto. It is rumored but not confirmed that William has expressed his sympathy with Italy over the ill feeling between that country and


Article from The Times, August 23, 1893

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Suspended Payment. SAN WARCOS, TEXAS, August 22. First National Bank suspended gayment yesterday by order of the Directors. Notice was given that the depositors will be paid in full as soon as they can realize on paper of which there is more than two and one half times the amount required.


Article from The Morning News, August 23, 1893

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Texas Bank Suspends. San Marcos, Texas, Aug. 22.-The First National bank suspended payment yesterday by order of the directors. Notice was given that depositors will be paid in full as soon as they can realize or their paper, of which there is more than two and one half times the amount required.


Article from The Times, August 23, 1893

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Suspended Payment. SAN WARCOS, TEXAS, August 22. First National Bank suspended qayment yesterday by order of the Directors. Notice was given that the depositors will be paid in full as soon as they can realize on paper of which there is more than two and one half times the amoun: required.


Article from The Sun, August 23, 1893

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Tronbles of the Banks, SAN MARCOS. Tex., Aug. 22.-The First National Bank suspended payment yesterday by order of the directors. Notice is given that the depositors will be paid in full as soon as the bank can realize on paper. of which there is more than two and one-half times the amount required to meet payment. WASHINGTON, Aug. 22-Comptroller Eckels to-day appointed N. F. Morris receiver of the First National Bank of Marion. Kan. LINCOLN. Nob., Aug. 22.-There was filed in the Supreme Court yesterday the case of Nebraska agt. ex-State Treasurer J. E. Hill et al. a case wherein Mr. Hill and his bondsmen are sued for $246,000, sunk in the wrecked Capitol National Bank. CHICAGO, Aug. 22.-Comptroller Eckels has directed Receiver Hopkins to declare a dividend of 50 per cent. to the depositors of the Chemical National Bank. payable on Sept. 30. JERSEYVILLE, ill., Aug. 22.-M. E. Bagley. private banker here. failed to open the bank doors this morning. The following notice was posted on the door: This bank IS closed on account of not being able to make collections to meet my obligations AB they mature. I have assigned all my property to Jett A. Kirby, to protect and pay all my depositors and creditors. My assets largely exceed my llabilities, and creditors will be paid in full." Liabilities are $110,000: assets. $124,000. WATERLOO. Ia., Aug. 22.-The private bank of J. T. Knapp & Co. of Cedar Falls. Ia. failed to open its doors this morning. and an assignment of the affairs of the institution was made later. H. H. Clay of Cedar Falls. assignee of the defunct First National Bank of Cedar Falls. is the assignee.


Article from Delaware Gazette and State Journal, August 24, 1893

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Will be Paid in Full. SAN MARCUS, TEXAS, Aug. 22.-The First National Bank suspended payment yesterday by order of the directors. No. tice is given that the depositors will be paid in full as soon as they can realize on paper, of which there is more than two and one-half times the amount required.


Article from Evening Star, August 28, 1893

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Three More Banks Resume. The following national banks, which recently suspended payment, having complied with the conditions imposed by the controller of the currency, and their capital being unimpaired, have today been permitted to reopen their doors for business: The State National Bank of Vernon, Tex. The First National Bank of San Marcos, Texas. The First National Bank of Lockhart, Tex.


Article from Evening Star, August 29, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000: First National Bank, Palouse city, Wash., $75,000; Southern California National Bank, Los Angeles, Cal., $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal. $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo. Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Denver, $500.000: Hutchinson National Bank, Hutchinson, Kan.. $100,000; People's National Bank, Denver, Col., $600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank. Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky. $300.000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000; Waxahachee National Bank, Waxahachee. Tex., $100,000; CitIzens' National Bank, Attica, Ind., $50,000; First National Bank. San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.


Article from Richmond Dispatch, August 29, 1893

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More Banks Resume. (By telegraph to the Dispatch.) Washington,D. C., Aug. 28.-The following national banks, which recently suspended payment, having comcontroller of the currency, and their capital being unimpaired, have to-day been permitted to reopen their doors for business: The State National Bank of Vernon, TeX; The First National Bank of San Marcos, TeXas: The First National Bank of Lockhart, TeX.


Article from The Progressive Farmer, August 29, 1893

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only five days in the week until the business conditions improve. FORT WAYNE, Ind., August Freight business on the Pennsylvania company's lines has been SO slack for the last four weeks that many trainmen have been idle. One trainman on every regular freight crew between Pittsburg and Chicago, on the Pitts burg, Fort Wayne and Chicago system was laid off to day finitely. Sixty men were dismissed between Fort Wayne and Chicago alone. It is understood that the order affects the entire Pennsylvania system. MILWAUKEE, Aug. factcame to the surface yesterday that when the committee of the Brotherhood of Railway Trainmen concluded their session with the officials of the St. Paul road Friday it was with the threat that if the order reducing wages was carried into effect they would strike. SEDALIA, Mo., Aug The Missouri Pacific Road will next Thursday still further reduce expenses by abandoning two passenger trains between this city and St. Louis. ST. LOUIS, Mo., Aug. 21.-The expected strike among the freight handlers here did not take place this morning. The men said they had reconsidered their determination and would accept the cut of 10 per cent. hoping to have their wages restored when times improve. MILWAUKEE, Wis, Aug. 22.-A mob of more than two hundred unemployed laborers marched through the streets to the court house and called for the mayor this morning. When Mayor Koch appeared he was greeted with cries of "bread" and "work." Several of the workmen made speeches and demanded that the city officials go to Washington to have the law that caused hard times repealed. They said they must have work or their families would starve. TERRE HAUTE, Ind., Aug. 22.-The The Evansville and Terre Haute Railroad monthly pay car reached thiscity to day, a week late. The men were greatly surprised when, instead of cash, their envelopes contained bank checks dated September 11. The men tried to discount their checks in the banks and with merchants, but failed. There was much indignation, and to night the switchmen struck. All freight is at a standstill in the yards. DENVER, Col., Aug. 22.-A mob of unemployed laborers this morning visited the north sidesewer, now building, and drove out of the trench seventy five men who were working eight hours a day for $1. SAN FRANCISCO, Cal., Aug 22 -The unemployed in this city have formed an organization called the United Brotherhood of Labor. It has so far about three thousand members. It has already established a free employment agency and is constructing a free soup kitchen wh ch will soon be ready for use. TONAWANDA, N. Y., Aug. 22.-Open hostilities began this morning at eleven o'clock between the union and nonunion lumber shovers About seventy old uni on men attacked the non union men. MINONK, Ill., Aug. 22 -The Minonkcoal and coke mines have shut down, throwing five hundred men out of employment. WARE, Mass, Aug. 22.-The - Otis Company's four cotton mills in this town, employing eighteen hundred hands with a pay roll of $2,000 a day, that have been shut down for nearly a month, and were expected to start up Monday, will not do so, owing to continued dullness of trade. AMSTERDAM, N. Y., Aug. 22. The Inman Machine Shops have closed for an indefinite time. A large number of hands are employed when the shops are running with a full force, The Morris Knitting Mills No. 1 in this city and No. 2 in Akin are also preparing to close. The night employee S in the No. 2 mill, numbering a hundred, have been laid off These mills have been running steadily for eight years. The Sanford Carpet Mills are still closed. DOVER, N. H., Aug. 22 -Notices were posted this morning in the mills of the Great Falls Manufacturing Company, in Somersworth, that on Sep tember 1 a cut down in all departments of 10 per cent. will go into effect. In No. 3 mill, which makes coarse goods, there will be a two thirds reduction in force because of the large stock of goods now on hand and because the company is unable to get ready money. SAN MARCOS, Texas, Aug. 22. -The First National Bank suspended payment yesterday by order of the directors. Notice is given that the depositors will be paid in full as soon as they can realize on paper, of which there is more than two and one half times the amount required. BOSTON, Mass., Aug. 22.-Jacob Dreyfus, junior partner of the firm of Weil, Dreyfus & Co., wholesale dealers in men's furnishing goods, appeared in the Supreme Court this afternoon as petitioner for a dissolution of the CO. partnership. The court promptly granted the request and appointed Lawyer Godfrey Morse receiver. The liabilities are said to be over $750,000. KANSAS CITY, Mo., Aug. 22.-James Doughty, of Sioux City, Iowa, arrived


Article from Pawtucket Tribune, August 29, 1893

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Texas Banks to Reopen. WASHINGTON, Aug 29.-The following national banks, which recently suspended payment, their capital being unimpaired, have been permitted to resume business: The First National bank of Vernon, Tex.; the First National bank of San Marcos, Tex., the First National rank of Lockhart, Tex.


Article from New-York Tribune, August 29, 1893

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AFFAIRS OF WESTERN NATIONAL BANKS. Washington, Aug. 28.-The following National banks which recently suspended payment, having complied with the conditions imposed by the Controller of the Currency, and their capital being unimpaired, were to-day permitted to reopen their doors for business: The First National Bank of Vernon, Tex.: the First National Bank of San Marcos, Tex., and the First National Bank of Lockhart. Tex. Controller Eckels has appointed Stewart Rice receiver of the Washington National Hank of Tacoma. Wash. The First National Bank of York, Neb., suspended to-day.


Article from St. Paul Daily Globe, August 29, 1893

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Banks to Reopen. WASHINGTON, Aug. 28.-The follow. ing named banks, which recently suspended payment, have been permitted to reopen their doors for business: The State National Bank of Vernon, Tex.; the First National bank of San Maricos, Tex.: the First National Bank of Lockhart, Tex.


Article from The Providence News, August 29, 1893

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To Start Up Again. WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, their capital being unimpaired, have been permitted to resume business: The First National bank of Vernon, Tex.; the First National bank of San Marcos, Tex.; the First National bank of Lockhart, Tex.


Article from The Kinsley Graphic, September 1, 1893

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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. THE Fourth national bank, of Louisville, Ky.; the American national bank, of Pueblo, Col., and the Waupaca County national bank, of Wanpaca, Wis., have been authorized to resume business. ASSISTANT SECRETARY CURTIS has instructed treasury agents to construe as liberally as possible the laws as to the packing of cotton on passenger steamers. IT is positively denied that the president is suffering from any organic disease. REPRESENTATIVE GEARY, of California, author of the Chinese exclusion act, called on Secretary Gresham and urged him to enforce the law. Mr. Geary received very little satisfaction. SECRETARY HOKE SMITH has revoked the former ruling of the department, which held that ditches, canals and reservoirs for irrigating purposes cannot be located on unsurveyed public land. IN view of the present peaceful condition of affairs in Samoa Secretary Herbert will not send a naval vessel to Apia for some time to come to represent the interests of the United States in Samoa. SECRETARY CARLISLE does not approve the bill to permit extension of the time in which whisky may lie in bonded warehouses without incurring the penalty. He believes the matter is not of sufficient importance to justify special legislation. SECRETARY CARLISLE has recommended an immediate appropriation of $300,000 for continuing the coinage of fractional silver coin and one of $44,000 for distinctive paper for printing treasury notes THE department of agriculture has received cable advices that the French government will admit American forage into France free of duty. 1 THE treasury is paying out gold now. Its paper. resources are exhausted because of heavy expenditures. JOHN QUINCY, assistant secretary of state, has resigned, in order that he may take charge of the democratic campaign in Massachusetts. YUNG Yu, the new Chinese ambassador to the United States, says there will be no retaliation for the Geary act until its provisions are actually enforced. THE following named banks, which recently suspended payment, have been permitted to reopen their doors for business: State national bank, of Vernon, Tex.; First national bank, of San Marcos, Tex.; First national bank, of Lockhart, Tex.


Article from The Times, September 3, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. WASHINGTON, D. C. Sept. 1.Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000; First National Bank, Palouse city, Wash., $75,000: Southern California National Bank, Los Angeles, Cal: $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Den ver $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, Col.,$600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmer's National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $200,000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000: Waxabachee National Bank, Waxabachee, Tex., $100,000; Citizen's National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.