21307. State National Bank (Vernon, TX)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 4130
Charter Number: 4130
Start Date: July 22, 1893
Location: Vernon, Texas (34.155, -99.265)

Metadata

Model: gpt-5-mini
Short Digest: c3839f22

Response Measures

Full suspension, Books examined

Other: Final closure led to appointment of receiver; initial suspension followed heavy withdrawals and inability to realize securities.

Receivership Details

Depositor recovery rate: 41.5%
Date receivership started: 1894-09-24
Date receivership terminated: 1902-10-15
OCC cause of failure: Losses
Share of assets assessed as good: 9.2%
Share of assets assessed as doubtful: 47.8%
Share of assets assessed as worthless: 43.0%

Description

The bank closed July 22, 1893 after paying out virtually all cash (inability to realize securities stated). It was permitted to reopen Aug 28, 1893. Subsequently (Aug–Sep 1894) the bank was closed by the examiner and a receiver appointed — a later failure not part of the immediate 1893 suspension/reopening episode. OCR cleaned dates and names where needed.

Events (7)

1. September 27, 1889 Chartered

Source: historical_nic

2. July 22, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Inability to realize on securities led depositors to withdraw essentially all cash before closure.
Measures: Paid out virtually all cash to depositors before closing doors.
Newspaper Excerpt: The State National bank of Vernon, Tex., has closed its doors. Every cent of money was paid out except one ten cent piece before the doors closed.
Source: newspapers

3. July 22, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended/closed because it could not realize on securities (illiquid assets).
Newspaper Excerpt: The State National Bank of Vernon closed its doors yesterday. Every cent of money was paid out, except ten cents. The failure is due to inability to realize on securities.
Source: newspapers

4. August 28, 1893 Reopening

Newspaper Excerpt: The State National Bank of Vernon, Tex. ... have today been permitted to reopen their doors for business: The State National Bank of Vernon, Tex.. (Controller Eckels).
Source: newspapers

5. August 19, 1894 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed by examiner; reported causes: poor collections and bonded indebtedness related to prior suspension.
Newspaper Excerpt: The State National Bank of this city was closed yesterday by Bank Examiner Johnson. The exact reason cannot be obtained, but is thought to be due to poor collections and the payment of bonded indebtedness due to the suspension of the bank last year.
Source: newspapers

6. September 24, 1894 Receivership

Source: historical_nic

7. September 24, 1894 Receivership

Newspaper Excerpt: The comptroller of the currency has appointed T. W. Robinson, receiver of the State National bank of Vernon, Tex.
Source: newspapers

Newspaper Articles (22)

1. July 22, 1893 Asheville Daily Citizen Asheville, NC

Article from Asheville Daily Citizen, July 22, 1893

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BANK TROUBLES. The Southside Savings bank, Milwaukee, Wis., did not open its doors this morning, and there was a heavy run on the German-American and the Merchant's Exchange banks. The Milwaukee National bank also closed its doors. The Kentucky National bank of Louisville, Ky., closed its doors this morning. This bank's last statement showed $190,000 to the credit of the government. The State National bank of Vernon, Tex., has closed its doors. Every cent of money was paid out except one ten cent piece before the doors closed. The private banking house of J. and L. W. Galbraith, Lampasas, Tex., failed to open its doors yesterday. Liabilities, $60,000; assets, $120,000. The Citizen's bank of Jellico, Tenn., the only banking institution in that place failed to open for business yesterday. The First National bank of Anthony, Kas., closed its doors yesterday. Assets $154,000; liabilities $50,000. The Union bank of Greeley. Col., made an assignment yesterday.

2. July 22, 1893 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 22, 1893

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crushed and burned in a horrible manner and was dead when extricated. Among the failures reported to-day are the Citizens' Bank of Jellico, Tenn; the First National Bank of Anthony, Kon.; the Milwaukee National Bank and South Savings Bank of Milwaukee: the Union Bank of Greeley, Col ; the private banking house of J. and L. Galbraith at Lampasas, Tex.; the State National Bank of Knoxville, Tenn.; the Kentucky National Bank of Louisville; and the State National Bank of Vernon, T.x. There is a heavy run on the German American and Merchants' Exchange Banks of Milwankee. At Shooting Park on the outskirts of Milwaukee, Wis., two thousand five hundred turners from all parts of the United States c ngregated yesterday, and the twenty-sixth annual bundesturufest WAS inaugurated. A duel, that resulted fatally to both the participants, took place in the outskirts of Victoria. Mex., on Thursday between a young law student and a young business man. The quarrel was over a young woman. Weather permitting Edw. Hanlan and Jacob Gaudaur will row at Orillia, Ont., this afternoon for the championship and a stake of $2,000.

3. July 23, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, July 23, 1893

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NATIONAL BANK FAILURES. Since January They Amount to Nearly Two Hundred Against Fifty Last Year. WASHINGTON, July 22.-Since the 1st of January nearly two hundred national banks have closed their doors in the United States against less than fifty during the same period last year. Of the failures this year, five have been United States depositories as follows: First National Bank, of Little Rock, Ark.; Gate City National Bank, of Atlanta, Ga.; People's National Bank, of Denver, Col.; German National Bank, of Denver, Col., and the Kentucky National Bank, of Louisville, Ky. This which closed the last United States govwill not $330,000 latter eroment. had bank, by of however, funds. report its lose doors anything The received to-day, by these failures. as each national bank, that is a government depository. has to deposit United States bonds to the amount of government money it is allowed to carry. These bonds, in case of the failure of the sold the on govbank, are for account States bonds the ernment. and, as United are ata premium in the financial market, there is never any difficulty in realizing. This afternoon Controller Eckels ordered bank examiners to take charge of the failed banks as follows: Escott. at Louisville, Ky.; Plumler. at Knoxville, Tenn.; Sawyer, at Russell. Kan.; Stone, at Vernon, Tex.: Lynch, at Milwaukee, Wis. Other Failures. WASHINGTON, July 22.-In addition to the heavy failure of the government depository at Louisville, three other failures of na tional banks were reported to Controller Eckels this morning; the failures occurring in sections widely apart. The failed banks are: State National Bank, of Vernon, Tex., with capital stook of $100,000; First National Bank, of Vernon, Tex., with capital stock of $80,000. and the State National Bank, of Knoxville, Tenn., with capital stock of $100,000. All these banks are small institutions, the deposits in each being in the neighborhood of $100,000. Governor Cooper, connected with the National Bank of Commerce, of Denver, Col., had an interview with Controller Eckels this morning as to the bank resuming business. While not assured it is probable that arrangements may be perfected by which the bank can resume in a short time. The Controller has appointed William A. Rice receiver of the Puget Sound National Bank of Everatt, Wash., and Mr. George B. Hofman receiver of the Bozeman National Bank, Bozeman, Mont. BELVIDERE, N. J., July 22. - Edward Lunkens, superintendent of the Oxford Iron and Nail Company, was instructed to close the rolling mills and iron mines belonging to that company pending the settlement of the affairs by a receiver. The cause of the failure, as explained by the president, is the dullness of theiron market and the financial stringency of the country. To-night the pumps are being removed from the mines and the machinery is order of the directhe existing state tors. being By diemantled by of affairs 350 men are thrown out of employment without any hope of relief. Liabilities, $225,000; assets, $150,000. NEW YORK, July 22.-A report of the condition of the Archer and Pancoast Manufacturing Company. gas fixtures. shows total liabilities of $1,109,453; total nominal assets are $1,570,666; actual assets approximated, $1,141,619.

4. July 23, 1893 The Times Richmond, VA

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Also National Banks of Tennessee, Texas and Wisconsin Forced to the Wall. LOUISVILLE, KY., July 22.-The Kentucky National Bank, of this city, closed its doors this morning. The capital stock is $1,000,000. paid up. This bank is also a Government depository, and its last statement show $190,000 to the credit of the Government The loans and discounts outstanding amounted to $1,719,366, and the surplus was $108,500. It is thought that the bank will be able to resume business in a short time. It has been carrying an immense amount of paper, which, although gilt edge, could not be realized on. The bank is the Government depository, and in the statement of the bank. published July 19th, the Government's deposits are placed at $191,731. Deposits of the United States disbursing officers, $138,268. According to the statement, the amount of cash on hand July 19th was a little over $85,000, Individual deposits subject to check of $311,693. and the loans and discounts were $1,719,966. The bank got into serious trouble in the fall of 1890, by having very heavy deposits from the country banks. which were checked so rapidly as to threaten a suspension of the bank. It has never recovered from that trouble, and its failure has been expected for several months. No other banks are hurt. The Kentucky National Bank was a United States depository, and has Government deposits amounting to about $300,000, and its inability to make prompt transfers on this account was the immediate cause of the suspension to-day. During the past three years its surplus has been changed off from $300,000 to $100,000. The officers and directors do not expect to resume for some time, if at all, and it is generally thought that it will not resume at all, unless it should be entirely reorganized. ⑉ Bank Examiner Escott b-right authorizes the official statement that he has examined all the national banks in Louisville, and its vicinity, and they are all solvent. and most of them in very good condition. Future trouble is not expected, unless the small depositors, mainly Germans, become frightened over Sunday and start runs on the banks having large numbers of small depositors. KNOXVILLE, TENN July 22.-The State National Bank closed this morning after opening four minutes. notice was posted on the door saying: "This bank has closed for liquidation. Depositors will be paid in full. The State National Bank, of this city, closed its doors this morning. The bank has long been known to be the weakest in the city. Yesterday, when $20,000 in deposits were withdrawn. it was more than it could stand. A meeting of the directors was held last night. An offer of $40,000 to pay depositors should a run occur to-day was made by other banks. The offer was not accepted, however. When it opened for business this morning a run was precipitated, which only lasted a few minutes, as the bank closed its doors for liquidation. A notice on the door says it will pay depositors dollar for dollar. The stock holders will also receive 85 cents on the dollar. It was feared that the closing of the State National would cause a panic in Knoxville financial circles, which have heretofore been considered very strong. A slight run was only made on the City National Bank, which is just opposite the street, but depositors were paid in full. The scare was soon over. There is no more uneasiness felt here. LAMPASAS, TEX., July 22. The private banking house of J. & L W. Galbraith failed to open its doors yesterday, having made an assignment to Camp bell. Liabilities, $60,000; assets, $120,000. A run on the First National Bank was started, but it was fortunately in position to withstand all demands. The depositors in the Galbraiths' bank will be paid in full. DENVER, COL., July 22.-On petition of the General Electric Company, Judge Hallett, in the United States Court to-day appointed E. B. Shattuck, of Pueblo, receiver of the Pueblo City Railway Company and the International Trust Company. The liabilities of the company are placed at $700,000. VERNON, TEX. July 22.-The State National Bank or Vernon closed its doors yesterday. Every cent of money was paid out. except ten cents, before the doors were closed. The failure is due to the inability to realize on securities. The directors state that depositors will be paid in full. MILWAUKEE, WIS. July -The Milwaukee National Bank closed its doors this morning. MILWAUKEE, WIS., July 22.-The Southside Savings Bank did not open its doors this morning. TOPUKA, KAN., July -The First National Bank of Anthony closed its doors yesterday. Assets, $154,000; liabilities, $50,000. MEMPHIS, TENN., July 22.-The Citizens' Bank, of Jellico, Tenn., the only banking institution in that place, failed to open for business yesterday. GREELEY, COL. July 22. The Union Bank made an assignment yesterday. It is thought the step was voluntarily taken to avoid a contingency that might arise should some creditor take advantage of the attachment law. The bank is perfeetly solvent, and not one depositor will lose a dollar. RUSSELL KAN., July 22 The First National Bank, of this place, closed this afternoon, and was taken possession of by C. M. Sawyer, on the order of the Comptroller of the Currency. No statement is made. Run on a Homestead Bank. HOMESTEAD, PA., July 22.-A run of mada on the

5. July 23, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 23, 1893

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BANK FAILURES SOUTH AND WEST. ONE OF THE EMBARRASSED INSTITUTIONS A GOVERNMENT DEPOSITORY. Knoxville, July 22.-The State National Bank closed this morning. The bank has long been known to be the weakest in the city. The withdrawal yesterday of $20,000 in deposits was more than It could stand. A meeting of the directors was held last night. An offer of $40,000 to pay depositors, should a run occur to-day, was made by other banks, but was not accepted. When it opened for business this morning a run was precipitated, which lasted only a few moments, as the bank closed Its doors for liquidation. A notice on the door says the bank will pay depositors dollar for dollar. Stockholders will also receive 85 cents on the dollar. It was feared that the closing of the State National would cause a panic in Knoxville financial institutions which have heretofore been considered strong. A slight run was made on the City National Bank, which is just opposite the State, but here depositors were paid in full, and the scare was soon over. There is no more uneasiness felt here. It is thought the other banks can stand the storm. Louisville, July 22.-The Kentucky National Bank of this city closed Its doors this morning. The capital stock is $1,000,000, paid up. It is thought the bank will be able to resume business in a short time. It has been carrying an immense amount of paper which, although gilt edge," could not be realized on. The bank is the Government depository, and in its statement published on July 19 the Government's deposits are placed at $191,731 83 deposits of United States disbursing officers, $138,208 17. According to the statement, the amount of cash on hand on July 19 was a little over $85,000: individual deposits subject to check were $311,695 33, and the loans and discounts were $1,719,966 52. The bank had been weak for some time, and the failure was not unexpected. Memphis, July 22.-The Citizens' Bank of Jellico, Tenn., the only banking institution in this place, failed to open for business yesterday morning. John Smith was made assignee. Assets and liabilities not known. Vernon, Texas, July 22.-The State National Bank of Vernon closed its doors yesterday. Every cent of money on hand had been paid out, except ten cents, before the doors closed. The failure is due to inability to realize on securities. The directors say that depositors will be paid In full. Lampasas, Texas, July 22.-The private banking bouse of J. & L. W. Galbraith failed to open its doors yesterday morning. having made an assignment to J. 1. Campbell. Liabilities, $60,000; assets, $120,000. A run on the First National was started, but the concern was in a position to withstand all demands. Depositors in Galbraith's Bank will be paid In full. 6 Topeka, July 22.-The First National Bank of Anthony closed its doors yesterday and posted a notice of assignment. Its assets are $154,000 and liabilities $50,000. RusseM. Kan., July 22.-The First National Bank of this place was closed this afternoon and was taken possession of by C. M. Sawyer on order of the Controller of the Currency. No statement has been made. Greetry, Col., July 22.-The Union Bank made an assignment yesterday morning to James F. Benedict, of Denver. It is thought this step was voluntarily taken to avoid the contingency that might arise should some creditor take advantage of the Attachment law. The bank is perfectly solvent and not a depositor will lose a dollar. Crested Butte, Col., July 22.-The Bank of Crested Butte closed yesterday morning. There had been a quiet run on it for several days, SO it was decided to suspend for a time. The assets are $65,000; liabilities, $35,000. Tacoma. Wash., July 22.-A. G. Poster was ap pointed receiver of the Traders' Bank yesterday. PresIdent Fitch says that the assets will pay all the obligations and leave a large surplus. Henry A. Strong, of Rochester, N.Y., and John D. Rockefeller were the largest stockholders. It is expected the bank will resume business soon. PRESENT TREASURY POLICY TO BE CONTINUED. Washington, July as -Secretary Carlisle. after an Interview with Mr. Preston. Acting Director of the Mint. this morning authorized the statement that he fully approves the policy pursued In his absence by Mr. Preston in purchasing silver, and that the same policy. will govern silver purchases in the immediate future. This statement sets at rest the rumors that Secretary Carlisle would, on his return. reverse the policy of the Treasury in purchasing silver. Secretary Carlisle gave entire discretion in purchasing silver to Mr. Preston when he left here on his vacation. This morning, with the approval.o Secretary Carlisle, Mr. Preston refused to purchase 100,000 ounces of silver at 70 cents, the London price being about 69 1-2 cents an ounce. This was part of lot offered yesterday at 73 cents an ounce, and was declined and a counter offer was made by Mr. Preston of 71 1-2 cents an ounce,which the holder refused to accept.

6. July 23, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 23, 1893

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Sundry Banks Suspend. [By telegraph to the Dispatch.] MEMPHIS, TENN., July 22.-The Citizens' Bank of Jellico, Tenn., the only banking institution in that place, failed to open for business yesterday. No figures known. GREELEY, CoL., July 22.-The Union Bank made an assignment yesterdav. It 18 thought the step was voluntarily taken to avoid a contingency that might arise should some creditor take advantage of the attachment law. The bank is perfectly solvent and not a depositor will lose a dollar. VERNON, TEX., July 22.-The State National Bank of Vernon closed its doors yesterday. Every cent of money was paid out, except ten cents, before the doors were closed. The failure was due to inability to realize on securities. The directors state that depositors will be paid in full. LOUISVILLE, Kr., July 22.-The Kentucky National Bank, this city, closed its doors this morning. Capital stock $1,000,000. paid up. This bank is also a government depository and its last statement showed $190,000 to the credit of the government. The loans and discounts outstanding amounted to $1,719,966, and the surplus was $108,500. MILWAUKEE, WIS., July 22.-The SouthSide Savings Bank did not open its doors this morning. There is a heavy run on the German-American and Merchant's Exchange banks. KNOXVILLE, TENN., July 22.-The State National Bank closed this morning atter opening four minutes. A notice was posted on the door saying: This bank has closed for liquidation. Depositors will be paid in full." MILWAUKEE, WIS., July 22.-The Milwaukee National Bank closed its doors this morning. LAMPASAS, TEX.. July 22.-The private banking-house of J. & L. W. Galbraith failed to open its doors yesterday having made an assignment to J. I. Campbell. Liabilities $60,000; assets. $120,000. A run on the First National Bank started, but it was fortunately in a position to withstand all demands. The depositors in Galbraith's Bank will be paid in full. TOPEKA, KAN., July 22.-The First National Bank of Anthony closed its doors yesterday. Assets, $154,000; liabilities, $50,000. RUSSELL, KAN., July 22.-The First National Bank, of this place, closed this afternoon and was taken possession ot by C. M. Sawyer on the order of the Comptroller of the Currency. No statement is made.

7. July 26, 1893 The Sun New York, NY

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BANK CASHIER SHOOTS HIMSELF. He was Dejected Over the Run on His Bank and the Lack of Confidence in Him, VERNON. Tex., July 25.-S. W. Lomax, cashier of the First National Bank of Vernon. shot himself this morning. killing himself instantly. He arose about half-past 5 o'clock and went into his parlor. and immediately the family heard the report of a pistol and ran into the room to find him lying on the floor dead with a revolver in his hand. He had shot himself through the heart. On last Friday the State National Bank closed its doors at noon. On that evening a run was made on the First National Bank which paid out about $15,000 before it closed for the day. The bank did not open on Saturday morning. Mr. Lomax complained bitterly of the business men of the city for whom he had been doing favors for years, and who had joined in the run on his bank. This seemed to prey upon his mind, and he was sick on Saturday and Sunday and was dejected and gloomy and his mind seemed to be unsettled.

8. July 26, 1893 The Indiana State Sentinel Indianapolis, IN

Article from The Indiana State Sentinel, July 26, 1893

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Three Southern Banks Fail. WASHINGTON, July 22.-In addition to the heavy failure of the government depository at Louisville three other failures of national banks were reported to Comptroller Eckels this morning, the failures occurring in sections wide apart. The failed banks are: The State national bank of Vernon, Tex., capital $100,000; the First national bank of Vernon, Tex., capital $80,000, and the State national bank of Knoxville, Tenn., capital $1,00,000. All these banks are small institutions, the deposits in each being in the neighborhood of $100,000. Governor Cooper, connected with the National bank of commerce of Denver, had an interview with Comptroller Eckels this morning as to the bank resuming business. While not assured, it is probable that arrangements may be perfected by which the bank can resume in a short times. The comptroller has appointed William A. Rice receiver of the Puget Sound national bank of Everett, Wash., and Mr. George B. Hoffman receiver of the Bozeman national bank, Bozeman, Mont.

9. July 27, 1893 Delaware Gazette and State Journal Wilmington, DE

Article from Delaware Gazette and State Journal, July 27, 1893

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FINANCIAL TROUBLES. Very Little Improvement in the Situation Since Last Week. MILWAUKEE, WIS., July 21.-The Com08'01 10 UP open rung Y NI PAL Education sing chick O B. bond Geilfuss, cashier of the bank. and his '000 007'19 18 placed ST The entire funds of filwaukee county, amounting to $810,624 were deposited in the Commercial Bank, and the newly ganized Milwaukee Electric Railway or- Comexerce am 03 ey: 0818 SEM Aued $2000000.00 JO The last statement of the bank showed 01 Sujmome рившер pus 9168599 JO email The bank had a capital of $250,000. During the financial flurry a month ago. caused by the Lappen failure, and which ton resulted in the suspension of the Plankineq: uo una B entile SBM there Bank Commercial. but it has been generally believed that the institution would weather am As there has been no trouble here for some time, the assignment this morning was a great surprise. SAN BERNARDINO, CAL., July 21.-James H. Eckels, comptroller of the currency. has authorized the First National Bank to open, which it did this morning. The bank has a large capital on hand, more than enough to pay every possible demand. It is said the Farmers Exchange Bank will also reopen in a short time. LONDON, July 21.-A. S. Constantinidi, seposdos JO may eq7 up B Constantinidi & Sons, merchants. of No. 23 Palmerston Building. has failed. His liabilities amount to £96,294, and his assets '229'23' 03 GREELEY, COL., July 22.-The Union Bank made an assignment, yesterday It. morning, to James F. Benedict of Denver. is thought this step was voluntarily 248yru 7847 our PIOAB 04 taken of arise should some creditor take advantage the attachment law. The bank is esot -Jed ITEM B for pus solvent Fectiry dollar U MILWAUKEE. WIS., July 22.-The South Side Savings Bank failed at 10.30 clock this morning. LOUISVILLE, KY., July 22.--The Kentucky National Bank of this city closed its doors this morning. The capital stock is oste st rueq du pied '000'000'T$ government depository. and its last a stateeqf JO credit ehe 01 000'061$ pemons quem government. The loans and discounts pue '09'996'612' 01 amounts the surplus was $108,500.' KNOXVILLE. TENN., July 22-The State National Bank closed this morning after opening four minutes. The notice posted : SABS 100p the uo a "This bank closed for liquidation. Depositors will be paid in full. side. The liabilities and assets not known outLIMA, O., July 22.-The recent failure of B for adv JO Rund Childens the amount will probably result in the prosemew R Only perple. rueq the JO cutton hours previous to the assignment Ahlfield, :: the bank's backer, it is alleged, gave mortP gages to his sons and relatives covering all S SUM eye JO euo his made to a son only about 14 years old, and thedepositors propose tocontest the legality of the transaction. Ahlfield has property u e bank. enough to cover all the labilities of the PORTLAND, ORE., July 22.-In response u to a telegraphic query from the editor of U the Pacific Banker and Investor of this e. the following was yesterday received from city se Comptroller of the Currency Eckels u "I am in receipt of your telegram of -0 terday. At New York I said yes- 'Disasters JE have fallen upon speculative institutions a. in the boom cities of the states of Wash. el ington, California. Colorado. Kansas & Missouri, which have injured and solvent u Aun that eas you op 'seuo JO A that language is necessary. This is no uodu 10 State B se State uoder refection any institution, or any city, except such r uodn looked pus имоия been bas SB SS city where speculation is rife. There as is st et no one but believesthat the great majority states eq1 JO institutions ehe JO -I named are absolutely solvent. o. a "On the other hand, no one will deny that in recent years speculation has been e. carried on in certain localities west to degree not warranted by the growth in A. population. It is just as well to be philosophical and to state honestly the cause u. of the present depression and not to excited without having reasons therefor.' grow 07 sddition Amy 01 the heavy failure of the government de30 pository at Louisville, three other failures a at of national banks were reported to Comptroller Eckels this morning, the failures s, occurring in sections widely apart. The failed banks are: The State National Bank of Vernon, Tex.; capital, $100,000; the First National Bank of Vernon, Tex., capital, $80,000; the State p tional Bank of Knoxville, capital, $100,000. All these banks are small institutions, IV equal ut being reach up the u borhood of $100,000. 10 Governor Cooper, connected with the 'P National Bank of Commence of Denver. St Col., had an interview with Comptroller of Eckels, this morning, as to the bank A !! -er 11 sssured you business. Suituns u probable that arrangements may be et fected by which the bank can resume in per94 time. short is LOUISVILLE, KY., July 25.-The MerIC this chants morning. National Bank suspended payment se u The pended. Louisville Deposit Bank has susas 1.30 p. m.-The Fourth National Bank has just closed its doors. SI INDIANAPOLIS, IND., July 25.-The Bank U of Commerce did not open this morning. as The Indianapolis National Bank also failed to open its doors this morning. p The Bank of Commerce has suspended. The Indianapolis National Bank, capital $300,000, which closed its doors this 12 morning. fails for $1,200,000. For some 91 days rumors have been current to effect that the bank was in trouble the

10. August 1, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, August 1, 1893

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CONTINUED PROSPERITY(i) "The Best Financial System in the World" and "Reform" Continues to Turn Out Victims by the Hundreds----Bank and Commercial Failures Growing More Numerous--A Few of the Largest. Maj J. B. Neal. a large farmer and merchant near Neal's Station, N C., made an assignment on the 17th of July. Edward L. Pell, publisher of a religious paper at Richmond, Va, has assigned. Liabilities $1,300. Mr. Kenny Rose, merchant, Winston, assigned last week. INDIANAPOLIS, Ind., July 25.-The Bank of Commerce and the Indianapolis National Bank have closed. MILWAUKEE, Wis., July 25.-The Fire Insurance Bank has closed. No statement. MILWAUKEE, Wis., July 25 -Cashier Koetting, of the suspended South Side Savings Bank, is missing and also the general ledger of the bank. The liabilities will run up into the millions. The Southern Electric Company, one of the big enterprises of Baltimora, Md., made a voluntary assignment yesterday. Failure to collect over due accounts made it impossible for the company to meet its obligations. The as sets of the concern are estimated at $175,000, liabilities $100,000. CONNORSVILLE, Ind., July 24.-The Citizens' Bank, owned by ex United States Treasurer Huston, failed toopen its doors this morning, owing to the stringency. Liabilities and assets not yet made known. Depositors ill, it is said, be paid in full. TOLEDO. Ohio, July 24 This morn ing the Ohio Oil Well Supply Com pany, operating in the Ohio oil fields at Findlay, Fostoria, Marietta, Rising Sun, Vanwert and Pittsburg, Pa., went into the hands of a receiver upon the application of Edward H. Cole, of Brooklyn, N. Y. One of the largest stockholders. Eaton, in his petition, states that the company indebtedness will amount to over $800,000. TACOMA, Wash July 24.-The Taco ma National Bank, one of thestrongest in the Northwest, suspended this morning. This bank has been assisting other banks in the city for the past six months. LOUISVILLE. July 24 -The - Lousville City National Bank closed its do rs at 1 15 this afternoon. GREAT FALLS, Mont, July 24 -The Merchants' National Bank closed its doors to-day at noon. A notice, signed by the directors, was posted, and stated that all depositors will be paid in full. The bank held $21,000 city funds, $32, 000 county funds and $20,000 of State funds, There is no uneasiness about other banks here. VERNON. Texas, July 22 -The State National Bank of Vernon closed its doors yesterday. Every cent of money was paid out except ten cents before the doors closed. The failure is due to inability to realize on the securities. The directors state that the depositors will be paid in full. LOUISNILLE, Ky., July 22 - The Kentucky National Bank, of this city, closed its doors this morning The capital stock is $1,000,000, paid up. This bank is also a government de pository and its last statement showed $190,000 to the credit of the government. Loans and discounts outstanding amounted to $1,719,966 and the surplus was $108,500. MEMPHIS, Tenn., July 22.-The Citizens' bank of Jellico, Tenn., the only banking institution at that place, failed to open for business yesterday. No figures are known. GREELEY, Col., July 22 -The Union Bank made an assignment yesterday. It is thought that the step was voluntarily taken to avoid a contingency that might arise should some creditors take advantage of the attachment law. The bank is perfectly solvent. Not a depositor will lose a dollar. MILWAUKEE, Wis., July 22.-The Southside Savings bank did not open its doors this morning. There is a heavy run on the GermanAmerican and Merchants' Exchange banks. LAMPASAS, Tex., July 22 The private banking house of J. and L. W. Gal braith, failed to open its doors yesterday, having made an assignment to J. I. Campbell. The liabilities are $60,000; the assets, $120,000. A run on the First National Bank was started, but it was fortunately in a position to withstand all demands. Depositors in Galbraith's bank will be paid in full. TOPEKA, Kan., July 22 -The First National Bank of Anthony closed its doors yesterday. The assets are $154,000 and the liabilities $50,000. MILWAUKEE, July 21.-The First National Bank of this city has failed. KNOXVILLE, Tenn., July 22.-The State National Bank of this city closed its doors this morning. The bank has long been known to be the weakest in the city. Yesterday when $20,000 in

11. August 28, 1893 Evening Star Washington, DC

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.

12. August 29, 1893 Evening Star Washington, DC

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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.

13. August 29, 1893 Richmond Dispatch Richmond, VA

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.

14. August 29, 1893 St. Paul Daily Globe Saint Paul, MN

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.

15. September 1, 1893 The Kinsley Graphic Kinsley, KS

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.

16. September 2, 1893 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, September 2, 1893

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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. 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 for age into France free of duty. 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. A REPORT has gained circulation that the president has recently been operated on for cancer, but his friends say there is not a word of truth in it. THE senate has confirmed E. G. Spillman, West Virginia. register of the land office at Kingfisher, Ok. A fight was made against him because he was not a resident of Oklahoma, but he won. THE following national banks which recently suspended payment have been permitted to reopen their doors for business: German national bank, of Denver, Col.; State national bank. Denver; First national bank, of Canon City, Col.. Louisville City National bank, of Louisville; Merchants national bank, of Louisville: the First national bank, of Ashland, Wis.

17. September 3, 1893 The Times Richmond, VA

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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.

18. August 20, 1894 The Morning News Savannah, GA

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BANK FAILURE. A Texas Bank in Trouble Through Last Year's Suspension. Vernon, Tex., Aug. 19.-The State National Bank of this city was closed yesterday by Bank Examiner Johnson. The exact reason cannot be obtained. but is thought to be due to poor collections and the payment of bonded indebtedness due to the suspension of the bank last year.

19. September 24, 1894 Evening Star Washington, DC

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Bank Receiver Appointed. Mr. T. W. Robinson has been appointed receiver of the State National Bank of Vernon, Tex.

20. September 24, 1894 San Antonio Daily Light San Antonio, TX

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Texas Bank Receiver Appointed. WASHINGTON, Sept. 24.-The comptroller of the currency has appointed T. W. Robinson, receiver of the State National bank of Vernon. Robinson is also receiver of the First National bank of Vernon.

21. September 24, 1894 Fort Worth Gazette Fort Worth, TX

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Hoss of Both Banks. Washington, Sept. 22.-Comptroller Eckels who returned today will appoint a receiver for the failed State National bank at Vernon, Texas, on Monday. He will appoint T. Windsor Robinson, who is already acting as receiver, for the First National bank of Vernon which failed some time ago, This appointment in made both for economy and to save trouble in the Instruction of a new receiver. Postoffices were established at Burgess, in Bell county, Jesse Burgess, postmaster, and at Sycamore, in Wine county, David S. Cox postmaster.

22. September 25, 1894 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, September 25, 1894

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Robinson Receiver. WASHINGTON, Sept. 25.-The comptroller of the currency has approved T. W. Robinson receiver of the State Na. tional bank of Vernon, Tex. Robinson is also receiver for the First National bank there.