21296. First National Bank (Texarkana, TX)

View Charter #3065 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
3065
Charter Number
3065
Start Date
December 1, 1890
Location
Texarkana, Texas (33.442, -94.038)

Metadata

Model
gpt-5-mini
Short Digest
79ef19b5

Response Measures

None

Description

The First National Bank of Texarkana suspended on Dec 1–2, 1890 (articles vary). No explicit run is described in the articles; a stockholders' meeting decided to resume business and the bank planned to reopen on Dec 10, 1890. Cause of suspension is not stated in the reports; officials claim assets exceed liabilities. Some reports list Texarkana, Ark.; user metadata gives Texarkana, TX.

Events (3)
1. December 1, 1890 Suspension
Cause Details
Cause not stated in articles; officials asserted temporary embarrassment and that assets exceeded liabilities; cashier had large interests in local enterprises mentioned in one report.
Newspaper Excerpt
TEXARKANA (Ark.), Dec. 1.-The First National Bank suspended this morning. The bank officials assert that the embarassment will be only temporary, as their assets are $255,000 and liabilities $150,000.
Source
newspapers
2. December 2, 1890 Other
Newspaper Excerpt
It is said that only $7000 cash was found among the effects. Cashier Kelsey had large interests in several enterprises here and it is said attempted to float the liabilities of the East Side waterworks and electric light company for large amounts. A special bank examiner from Washington will take charge to-night, and a statement may be expected.
Source
newspapers
3. December 10, 1890 Reopening
Newspaper Excerpt
The stockholders and officers of the First National bank held a meeting last night... It was the sense of the meeting to open up business again, and depositors could call, and get their money or let it remain in the bank, as they saw fit.
Source
newspapers

Newspaper Articles (12)
1. December 2, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, December 2, 1890

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Article Text

BUSINESS FAILURES. Assignment of a Boston Wholesale Firm. Suspension of Banks. NEW YORK, Dec. 1.-Arthur & Ketchum, stock-brokers, have assigned. BOSTON, Dec. 1.-Winslow, Reed & Watson, wholesale dealers in teas, coffees and spices, have assigned. Winslow says the immediate cause of the failure is stringency in the money market. He has no idea of the amount of liabilities and assets. PITTSBURG, Dec. 1.-An Indiana (Pa,) special says the Deposit Bank has failed. The liabilities and assets are unknown. The closing of the doors of the Deposit Company is the result of the failure of B. K. Jamison & Co., Philadelphia. The latter had in their possession cash and securities of the Deposit Company amounting to $45,000 at the time of the suspension. The officials say the deposits aggregate $141,000, and the assets are three times as large. An early resumption is expected. The chief stockholder, White, spent some time in Philadelphia, trying to recover securities or money from the Jamisons, but was unable to do so. He stated to-day that the bank is solvent and will pay dollar for dollar, and all they wanted was time enough to turn the securities into money. The principal depositors express confidence in the bank. TEXARKANA (Ark.), Dec. 1.-The First National Bank suspended this morning. The bank officials assert that the embarassment will be only temporary, as their assets are $255,000 and liabilities $150,000. GUTHRIE (Ind. T.), Dec. 1.-President Ragsdale of the Commercial National Bank, which suspended last week, has been arrested under an indictment charging him with a violation of the banking laws.

2. December 2, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, December 2, 1890

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BUSINESS. A BOSTON ASSIGNMENT. BOSTON, MASS., Deo. 1.-Winslow, Rand & Walson, wholesale dealers in teas, coffees and spices at 197 State street, have assigned. Liabilities and assets not yet known. MULES ATTACHED. Correspondence of the Gazette. BLACK JACK GROVE, TEX., Nov. 30.Yesterday Messrs. Schneider & Davis, of Dallas, levied an attachment on nine head of mules supposed to belong to L. D. Stinson, who recently sold out his stock of "groceries here to W. F. Mahaffav, leaving several creditors in duress. The property was replevied by Mr. A. S. Fry, claimant. Amount of their claim was $1000. STOCK BROKERS ASSIGN. NEW YORK, Dec. 1.-Arthur & Ketchum, stock brokers, have made an assignment to Charles A. Demeritt. A DEPOSIT BANK FAILURE. INDIANA, PA., Dec. 1.-The deposit bank has failed. Liabalities and assets not yet known. The suspension is a result of the failure of B. K. Jamisson & Co. of Philadelphia. The latter had in their possession cash and securities of the deposit company amounting to $45,000 at the time of the suspension. Officials say the deposits aggregate $141,000, and that the assets are three times as large as the liabilities. Early resumption is confidently expected. SAN ANTONIO DRUGGIST ASSIGNS. Special to the Gazette. SAN ANTONIO, TEX., Dec. 1.-F. D. Duncan, druggist, made a general assignment to-day for the benefit of creditors. George S. Board is named as assignee. The assets and liabilities are not known. FIRST NATIONAL BANK OF TEXARKÁNA SUSPENDS. Special to the Gazette. TEXARKANA, TEX., Dec. 1.-This city was startied this morning by the announcement that the First national bank of this city had suspended. This is the oldest banking institution in the city, and has had the confidence of the entire community for many years, who at least thought its conditions should be in a healthy state. W. A. Kelsey, the cashier and manager, IS well known in financial circulars all over the Union. The cause of the suspension cannot be ascertained. The card on the door announces that a meeting of the stockholders has been called, but no promise is made of an early resumption of business. Some of the largest merchants and lumber establishments are sufferers. It is not known what will be the result of the disaster. There are three other national anks here, all in good condition to successfully meet any kind of panto that may ensue. The officers of this bank are J. H. Draughon, principal owner of the Sulphur lumber company, president; J. Deutzchman, president of the street railway and electric light company, vice-president; and W. A. Kelsey, cashier. C. C. Derrian, mavor of Texarkana, Ark., and A. B. Kizer, proprietor of the Kizer lumber company, are among the directors. It is understood here that the assets of the bank are amply sufficient to meet all liabilities and that business will be resumed. AN ASSIGNMENT AT RIPLEY, TENN. MEMPHIS, TENN., Dec. 1.-Class & Butler, general merchants at Ripley, Tenn., made an assignment Saturday. Liabilities $50,000;assets nominally $75,000.

3. December 2, 1890 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 2, 1890

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Article Text

Dr. Birney cures catarrh. Bee bld. g Failure in T xarkana. TEXARKANA, Ark., Dec. 1.-The First Na tional bank suspended this morning. The bank officials assert the embarrassment will be only temporary as their assets are $255,000 and liabilities $150,000.

4. December 3, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, December 3, 1890

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BUSINESS. RUN ON THE KEYSTONE BANK CONTINUES. PHILADELPHIA, PA., Dec. 2.-The run on the Keystone national bank continues to-day with unabated vigor. All persons presenting checks for $100 or tess were paid in currency, but any whose demands exceeded that amount are given clearing house due bills. By an arrangement with the clearing house banks these due bills will be honored at any bank. Towards 1 o'clook the run seems to have been broken and a long line of depositors waiting their turns rapilly dwindled down, and no new arrivals took the places of those who left. TEXARKANA'S SUSPENDED BANK. Special to the Gazette. TEXARKANA, TEX., Dec. 2.-There are no new developments concerning the suspension of the First national bank here. It is said that only $7000 cash was found among the effects. Cashier Kelsep had large interests in several enterprises here and it is said attempted to float the liabilities of the East Side waterworks and electric light company for large amounts. A special bank examiner from Washington will take charge to-night, and a statement may be expected. There has been no run on the other banks here, but the deposits in every case are largely increased.

5. December 4, 1890 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, December 4, 1890

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Article Text

Texarkana Bank Busted. TEXARKANA, Tex., December 4.The First National Bank of this city has suspended. This is the oldest banking institution in this city, and has had the confidence of the community for many years. The last report of Its condition showed it to be in a healthy state, and the blow fell without previous warning.

6. December 5, 1890 The United Opinion Bradford, VT
Article from The United Opinion, December 5, 1890

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of Ref C.J. Wingate, an Episcopal minis er. va killed and Mrs. W. L. Wallace fatality nure in a runaway accident. Sunday. Nov. 30. Stamboul, the California trotter, made a record of 2:11 for the mile. Ernest Albert Hack of Williamsburg, N. Y., is charged with bigamy. The promoter of the Halifax Law and Order league is threatened with death. An effart is to be made to organize a trust of the lead smelters of the United States. Nicely brothers, sentenced to death for murder and robbery, broke jail at Somersat, Pa., for the second time. Indicacions are that the liabilities of Jamei-on & Co., the suspended banking firm of Philadelphia, will exceed $1,000,000. Monday, Nec. 1. Millions of bushel 8 of wheat are waitin transportation from Washington. Treasury officials estimate that the public debt increased about $4,000,000 in No vember. homaston, Me., has been presented with a town hall by Hon. Samuel Watts of Boston. The feeling at Concord, N. H., is that the work of the extra session of the legislature will be confined to the election of a clerk. A motion has been made to quash th indictments against the alleged assassins of Chief of Police Hennessy of New Orleans. Mrs. O'Shea is at Brighton with her four daughters, and Mr. Parnell was with her there during the parliam ntary recess. Mr. Parnell returned to Brighton after thetrial of the O'Shea divorce suit. Tuesday, Dec. 2. The First National Bank, Texarkana, Tex., has suspended. The London News is not enamoured of the president's message. The J. E. Potts Salt and Lumber company of Michigan has assigned. of Railway delays and damage have been caused by the storm in Nova Scotia. A scheme is afoot to construct H canal from the Merrimac river to Boston harbor. The president has appointed John C. Robinson H special agent to make allotments of lands in severalty to Indians. Pera Hynciaths has issued a manife.ro looking to the establishment of a French nati onal church, Fire at Coaticooke, P. Q., destroyed property valued at $90,000. There is an insurance of $30,000. Irishmen in New York generally agree that Parnell's retirement will be for the best interests of the Irish cause. The general condition of Surgeon General Baxter is believed to be slightly improved, though the physicians have but little hope of his recovery. Joseph Rameau. brakeman on the New York, Providence and Boston railroad, was knocked off a car to the track, run over and dismembered, and died in a few minutes. It is publicly announced that the late D. B. Faverweather, the millionaire leather merchant of New York city, left by his will the sum of $200,000 to Cornell univer-i.y. E. B. Goo lell, employe.1 at I. J. Stean's silver plating establishment, Hartford, fell with an elevator seven stories. received injuries from which he died a few minutes later. o The annual meeting of the Con section Indian association was held ii New i Haven. The treasurer's report showed re8 ceipts $3259; expenses $1733. and a balance f on han. o: $1526. The New Hampshire legislature met in S extra session yesterday. No business t was transacted. The vexe question of i membership was referred to the house d judiciary committee. t A fire destroved the Georgia railroad t offi and freight depot and partially a burned the union passenger station at b Augusta. Ga. The loss is about $75,000 and the insurance $54,000. p a Cold Weather in the Northwest.

7. December 5, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, December 5, 1890

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BUSINESS. FAILURE AT BOWIE. pecial to the Gazette. BOWIE, TEX., Dec. 4.-Evans Bros. of this city were closed by attachment yesterday. It was thought that they would be able to at once adjust the mat. ter, hence no mention was made in the newspapers, but instead of adjusting, this morning attachments were run for about $15,000. Common report says the liabilities will reach $35,000 and that the assets will only be about $8000. In con. versation with Mr. Evans this morning he stated that the liabilities would not exceed $25,000 and that the assets would amply reach $12,000. This is the great. est failure that Bowie has ever had, and its effect will be felt in all classes of bus. iness in the city. Some time since the dry goods men inaugurated a war among themselves and sold goods at and below prime cost. To this is ascribed their failure. TEXARKANA'S FIRST NATIONAL BANK. Special to the Gazette. TEXARKANA, TEX., Dec. 4.-Examine! Spalding has charge of the effects of the First national bank here, and nothing I developed except that about S6000 was all the cash found in the vaults. FAILURE AT CORSICANA. Special to the Gazette. CORSICANA, TEX., Dec. 4.-Ben Hr. man, a dry goods dealer here, executed a deed of trust to-day to secure the Corsicana national bank and other home creditors for the amount of $3000. Noth. ing is known as to the assets or other lia. bilities. A NEW JERSEY MANUFACTURING COMPANY FAILS. PASSAIC, N. J., Dec. 4.-The Ritten. house manufacturing company went into the hands of a receiver yesterday. The concern employes 700 or 800 hands in the manufacture of woolen blankets, shawls and a variety of plush used in covering railroad car seats. Edward H. Ammidown, president of the American protective tariff league, owns nine-tenths of the stock, and is president of the corporation. The liabilities aggregate nearly $1,000,000, and nominal assets, consisting principally of mill machinery and stock of manufactured goods, are estimated at $800,000. W. Barbour, the widely known thread manufacturer of Patterson, and Belfast, Ireland, was appointed receiver. He qualified at once and took formal possession of the plant. J. M. Moore, attorney of and stockholder in the corporation, said the company had been running at a loss for two years, and were storing a great deal of their product in anticipation of the passage of the McKinley tarif bill. They had been borrow. ing money, and the recent stringency in the money market crippled them. It is also said that Ammidown, either for himself or for the company, put 8 million dollars in wool during the months of June and July, intending to take advantage of a rise in the market following the passage of the new tariff bill. The rise never came and the result has been a loss instead of the anticipated profit.

8. December 5, 1890 The Times Owosso, MI
Article from The Times, December 5, 1890

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Failure of a Texas Bank. TEXARKANA, Tex., Dec. 2.-The First National bank of this city has suspended. The cause of the suspension is not stated. This is the oldest banking institution in the city and has had the confidence of the entire community for many years. A meeting of the stockholders has been called, but no promise is made for an early resumption of business. It is understood that the assets of the bank are amply sufficient to meet all liabilities. There are four other banks here, all in good condition to successfully meet any kind of panic that may ensue.

9. December 9, 1890 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, December 9, 1890

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FOREIGN NEWS. AN ARKANSAS BANK SUSPENDED. TEXARKANA, Arksas, Dec 2-The - First National bank, of this city, suspended yesterday Several heavy depositors were crippled. Tue bank officers assert the losses will only be temporary, as their assets are $225,000 and their liabilities $150,000. -- Charleston News.

10. December 11, 1890 Fort Worth Daily Gazette Fort Worth, TX
Article from Fort Worth Daily Gazette, December 11, 1890

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BUSINESS. ATTACHMENTS AT DECATUR. Special to the Gazette. DECATUR, TEX., Dec. 10.-The Schwab clothing company of St. Louis attached the C. C. Jones stock of dry goods for $2353, and Naumburg, Kraus, Lauer & Co. of New York for $3120.47. WILL RESUME BUSINESS. Special to the Gazette. TEXARKANA, TEX., Dec. 10. - The stockholders and officers of the First National bank held a meeting last night, which lasted until 12 o'clock. It was the sense of the meeting to open up business again, and depositors could call. and get their money or let it remain in the bank, as they saw flt. The bank will be doubly strong should it resume business as we learn it can secure all the money that is needed to place it upon its former financial footing. We have talked to several connected with the bank, and they expressed a firm belief that the First national bank would again resume business, and that very soon. TWO FAILURES AT CLARKSVILLE, TENN. CLARKSVILLE, TENN., Dec. 10.-The Franklin bank of this city was suspended this morning. It is a private bank, capital stock $50,000. Assets and liabilities unknown. Kendrick, Pettus & Co., a large tobacco firm, made an assignment to-day. Their liabilities are $41,000, statement of assets not yet been made. CLOSED ON ATTACHMENT. DENVER, CoL., Dec. 10.-The grocery and importing house of John H. Carleton was last evening closed on attachments. The liabilities are $24,000; assets unknown.

11. December 12, 1890 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, December 12, 1890

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South and West. A FIRE in Powers's dry goods building at St. Paul, Minn., caused $150,000 damage. BELL & RESTUS'S private bank at Duluth, Minn., has suspended. The deposits are about $500,000, the capital $100,000, and the surplus $100,000. THE boiler of John H. Ackers & Co.'s steam sawmill at Scotland, Worth County, Ga., exploded, killing three men and injuring four others. The killed are Augustus Stinson, of Angelica, Wis.; Thomas Sammons and Adolphus McMillan. JAMES L. PUGH was elected United States Senator by the Alabama Legislature, to succeed himself. AT Sylacauga, Ala., William B. Hunter, editor of the Bee, shot and killed Town Marshal Mokerson. The latter arrested the editor while with a party of friends, charging him with disorderly conduct. Hunter was discharged. Next day the Marshal attacked the editor with a stick and the latter defended himself with a revolver. THE Annapolis (Md.) Naval Academy team defeated the West Point Military Academy eleven at football on the campus at West Point. SOME of the Indians of the Northwest are still dancing, but there are no signs of an outbreak. THE control of the Chesapeake and Ohio Canal has been secured by the Baltimore and Ohio Railroad. THE University of Virginia football team defeated the Trinity College team of North Carolina for the championship of the South at Richmond, Va., by a score of ten to four. EVERY coal miner in the Birmingham, (Ala.) district, 8000 in all, threw down his pick the other evening, and the most extensive strike of its kind ever known in the South began. It was probable that 20,000 men would be thrown out of work. FREEMAN B. CROCKER, President of the Board of Public Works of Denver, and one of Colorado's most prominent citizens, committed suicide because criticism of his public actions had deranged his mind. ROBERT LEEDS and Jeremiah Hitchcock were fatally injured in a railroad collision at Cherokee, Iowa. THE Brazilian naval officers visited Annapolis (Md.) Naval Academy and were entertained at dinner by Secretary Tracy. THE Indians at the Pine Ridge Agency are drifting into the inaccessible Bad Lands. THOMAS G. JONES was inaugurated Governor of Alabama, at Montgomery, to succeed Thomas Seay. THE First National Bank of Texarkana, Texas, has suspended. This is the oldest banking institution in the city.

12. December 17, 1890 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, December 17, 1890

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South and West. A FIRE in Powers's dry goods building at St. Paul, Minn., caused $150,000 damage. BELL & RESTUS'S private bank at Duluth, Minn., has suspended. The deposits are about $500,000, the capital $100,000, and the surplus $100,000. THE boiler of John H. Ackers & Co.'s steam sawmill at Scotland, Worth County, Ga., exploded, killing three men and injuring four others. The killed are Augustus Stinson, of Angelica, Wis.; Thomas Sammons and Adolphus McMillan. JAMES L. PUGH was elected United States Senator by the Alabama Legislature, to succeed himself. AT Sylacauga, Ala., William B. Hunter, editor of the Bee, shot and killed Town Marshal Mokerson. The latter arrested the editor while with a party of friends, charging him with disorderly conduct. Hunter was discharged. Next day the Marshal attacked the editor with a stick and the latter defended himself with a revolver. THE Annapolis (Md.) Naval Academy team defeated the West Point Military Academy eleven at football on the campus at West Point. SOME of the Indians of the Northwest are still dancing, but there are no signs of an outbreak. THE control of the Chesapeake and Ohio Canal has been secured by the Baltimore and Ohio Railroad. THE University of Virginia football team defeated the Trinity College team of North Carolina for the championship of the South at Richmond, Va., by a score of ten to four. EVERY coal miner in the Birmingham, (Ala.) district, 8000 in all, threw down his pick the other evening, and the most extensive strike of its kind ever known in the South began. It was probable that 20,000 men would be thrown out of work. FREEMAN B. CROCKER, President of the Board of Public Works of Denver, and one of Colorado's most prominent citizens, committed suicide because criticism of his public actions had deranged his mind. ROBERT LEEDS and Jeremiah Hitchcock were fatally injured in a railroad collision at Cherokee, Iowa. THE Brazilian naval officers visited Annapolis (Md.) Naval Academy and were entertained at dinner by Secretary Tracy. THE Indians at the Pine Ridge Agency are drifting into the inaccessible Bad Lands. THOMAS G. JONES was inaugurated Governor of Alabama, at Montgomery, to succeed Thomas Seay. THE First National Bank of Texarkana, Texas, has suspended. This is the oldest banking institution in the city.