Merchants National Bank (Louisville, KY)

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Episode Information

Episode UID
216101123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
21610 national
Charter Number
2161
Start Date
July 25, 1893
Location
Louisville, Kentucky (38.254, -85.759)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f6721b5787b5156b

Response Measures

Clearinghouse loan, Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Events (5)
1. July 31, 1874 Chartered
Source
historical_nic
2. July 25, 1893 Run
Cause
Local Banks
Cause Details
Heavy withdrawals by country banks and country depositors precipitated a run on the bank.
Newspaper Excerpt
The failure of the Merchants' National was caused by the withdrawals of country banks and country depositors.
Source
newspapers
3. July 25, 1893 Suspension
Cause
Local Banks
Cause Details
Direct suspension after heavy withdrawals and inability to meet day's demands due to country drain.
Newspaper Excerpt
The Merchants' National bank has suspended.
Source
newspapers
4. August 31, 1893 Reopening
Newspaper Excerpt
Two more suspended banks, the City National and the Merchants National, resumed business yesterday.
Source
newspapers
5. June 2, 1894 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. July 25, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 25, 1893

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dianapolis National Bank failed to open its doors this morning. AN INDIANAPOLIS BANK. INDIANAPOLIS, July 25.-The Bank of Commerce did not open its doors this morning. The statement of the Indianapolis national bank on July 14, showed resources, $2,318,154. Liabilities: Due depositors, $1,194,586; United States deposits, $193,100; (deposits of disbursing officers, $106,900; due other national banks, $146,503;due banks, $73,579; notes and bills rediscounted, $51,187; bills payable, $58,000. Capital stock, $300,000; surplus, $100,000; undivided profits, $44,448. The Indianapolis, National was considered one of the strongest banks in the city and was designated the depository of the United States. President Theodore Haughey, last night, consulted with other bankers, having previously secured $50,000 to tide him over yesterday. He said the failures at Louisville and New Albany had aggravated the local situation and it was thought best to suspend. The Bank of Commerce has not been one of large deposits, and the failure will not have much effect locally. Theindebtedness is said to be $150,000. At 11 o'clock a heavy run was being made on the Indiana National. The Louisville Deposit Bank has failed. A LOUISVILLE BANK. LOUISVILLE, Ky., July 25.-The Merchants' National bank has suspended. The Fourth National bank has sus. pended. AT MILWAUKEE. MILWAUKEE, July 25.-The Wis. consin Marine and Fire Insurance Company Bank closed its doors this morning. The bank was commonly known as the Mitchell bank. The notice on the door says it is closed on account of the monetary stringency. The statement

2. July 26, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 26, 1893

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THREE MORE IN LOUISVILLE, Two National and a Private Bank Forced to Close Up. Special to the Indianapolis Journal. LOUISVILLE, July 25.-Panic reigned in banking circles here to-day, and as a result three more failures are added to the list, making five since Saturday for Louisville. Runs were in progress on all the banks and none can tell where the trouble will end. The institutions gone up to-day are the Merchants' National, the Fourth National and the Louisville Deposit Bank. The Merchants' was the first to go. Half an hour later the Deposit Bank posted a notice and about the same time the Fourth National went to the wall. At that hour the excitement was running high and every one of half a dozen banks was crowded with depositors who were in line waiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky National Bank, Saturday. Then came the Louisville City National Monday, after the intervention of a Sunday holiday. and the Merchants' National. The Louisville Deposit and the Fourth National to-day. The failing of the Merchants' National was caused by the withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the clearing-house association, and, in its time of need, none of the other banks would give it any assistance whatever. The suspension of the Fourth National was a result of the panic. For a week there has been a stendy pulling out of deposits. This changed into a run after the suspension of the Kentucky National last Saturday. and the run continued Monday and Tuesday, and until the funds were exhansted to-day. The Merchants' National was capitalized at $500,000. and J. H. Lindenberger is president. The Fourth National has a capital of $300,000. and a surplus of $5,000; George Davis is president. The Lonisville Deposit Bank has a capital of $800.000, and a surplus of $16,128; Moses Sch wartz 18 president. The last state. ment of the Fourth National was as follows: Resources.

3. July 26, 1893 The Times Richmond, VA
Article from The Times, July 26, 1893

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Bank. Milwaukee people had become imbued with the idea that this bankthe old Mitchell Bank-was the Gibraltar of finance; that they could not credit the report that it had closed. There was general bellef that when all other banking institutions have disappeared from the face of the earth, that the bank which Alex. Mitchel! founded would continue to do business at the corner of East Water and Michigan streets, and it was this firm faith in the bank's stability that made the shock to public confidence so great. A few minutes after 10 o'clock the news that the bank had not opened its doors began to circulate on the streets, and immediately a rush began in the direction of the Mitchell building. People would not believe what others told them, but insisted on crowding up the marble steps and reading the notice of suspension for themselves. The story of the failure is one so often told now-a-days, steady and long-continued drain of deposits and inability to promptly realize cash upon collections. The bank is solvent and wealthy. TOLEDO, O., July 25.-The Farmers' National Bank of Findlay, O., closed its doors at noon to-day. No statement has been given out as yet. No excitement prevails, and the other three banks in the city are prepared for any run that may follow. INDIANAPOLIS, IND., July 25.-The Indianapolis National Bank suspended this mornig. The failure is for $1,200,000. For some days rumors were current that the bank was in trouble, and these rumors had the effect of starting a quiet run upon it, which, though quiet, depleted the bank's funds, and finally made necessary the action of to-day. LOUISVILLE, KY, July 25.-The Merchants' National Bank suspended payment this morning. INDIANAPOLIS, IND., July 25.-The Bank of Commerce did not open its doors this morning. WASHINGTON D. C., July 25.-Examiner McDonald has been directed to take charge of the falled First National Bank of Orlando, Fla. MILWAUKEE, WIS., July 25.-Late this afternoon the J. Obermann Brewing Company made an assignment. H. P. Obermann is the assignee, and his bond is $1,200,000. Foolish Itnn on the German Bank. LOUISVILLE, KY July 25.-At 1 o'clock this evening a small run was caused on the German Bank by an old colored woman, who had fifty dollars deposited there. She did not have the certificate with her, and loudly demanded that she be giveen her money without identification. The noise she made attracted attention. and in a few moments a hundred people were about the bank. The officials had a strong box, said to contain $300,000, brought over from the Louisville Trust Company. The money was spread out on the counter, and the cashier announced that he was ready to pay off any and all claims. A few of the depositors drew their money, but the others were speedily satisfied that the German Bank was in no danger, and left. Subsequently a heavy run started on the German Bank, and continued up to 3 o'clock. The bank had over a million in cash and $1,500,000 worth of securities, which can be turned into money at a moment's notice, Several of the banks kept open until 6 o'clock. Business Emparrasement. TOLEDO, O., July 25.-G. B. Hodgeman Manufacturing Company, one of the largest concerns in Produsky, went into the hands of receivers this morning. ST. LOUIS, MO., July 25.-Ripley & Bronson, iron merchants, No. 800 north Second street, made an assignment for the benefit of their creditors this morning. Liabilities, $150,000. About equal

4. July 26, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 26, 1893

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More Bank Suspensions. INDIANAPOLIS, IND. July 3.-The Bank of Commerce did not open its doors this morning. INDIANAPOLIS, IND., July 25. - The Indianapolis National Bank suspended this morning. LOUISVILLE, Ky., July 25.-The Merchants' National Bank suspended payment this morning. MILWAUKEE. WIS., July 25.-The - Wisconsin Marine- and Fire-Insurance Company Bank closed its doors this morning. This is Senator Mitchell's bank and has been considered the strongest bank in the city. TOLEDO, O., July 25.-The Farmers' National Bank of Findlay, O., closed its doors at noon to-day. No excitement prevails, and the other three banks in the city are prepared for any run that may follow. LOUISVILLE, Ky., July 25.-The Fourth National Bank threw up the sponge at 1:18 o'clock this afternoon after a hard fight. A run during the morning, with a drain from country banks. caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." Four national banks have thus far suapended since Saturday. The officers of the Merchants' National bank assort their solvency. Depositors and stockholders will receive dollar for dollar. By 10:30 o'clock it became evident to the directors of the Louisville Deposit Bank that they could not meet the day's demands, and as the general condition of financial affairs was such as to preclude the hope of outside assistance, the directors ordered tne doors to be closed, and papers were prepared making an assignment to the Ger. maus Trust Company.

5. July 26, 1893 The Herald Los Angeles, CA
Article from The Herald, July 26, 1893

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Further Failures of Financial Institutions. Three More Louisville Banks Suspended. Two Big Concerns at Indianapolis Close Doors. The Financial Gibraltar of Bilwaukee Succumbs to the Assaults of Depositors-A Failure at Findlay, O. By the Associated Press. LOUISVILLE, Ky., July 25.-The Louisville Deposit bank, the Merchante' National bank and the Fourth National bank suspended today. There were runs on several other banks, mostly small, but all stood the strain. The failure of the Merchants' National was caused by withdrawals of country banks. The Deposit bank is not a member of the clearing house, and none of the other banks would assist it. The Fourth National bank failed as the result of the panic caused by the failure of the others. None of the failures are considered bad. The depositora of the two national banks will be paid in full. The last statement of the Fourth National showed a paid in capital stock of $300,000, a surplus fund of $37,000, and undivided profits, $27,956. The Merchants' had a paid in capital of $500,000; eurplus, $100,000; undivided profite, $21,384. The Deposit bank's statement showed a capital stock of $300,000; undivided profits, $19,155. All the bank officials express confidence that no one will lose a cent if they can get time to realize on their assets. Shortly after the assignment of the Deposit bank President Schwartz filed an individual assignment of all his personal property to the same assignee. The Sweetwood Distillery company also made an assignment, Mr. Schwartz being president of that company also. No statement is yet prepared. Jacob Schwartz, brother of the bank president and who has been in the liquor business a number of years, suapended late this afternoon. He owes $70,000.

6. July 26, 1893 The Morning News Savannah, GA
Article from The Morning News, July 26, 1893

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LOUISVILLE BANKS SUCCUMB. Three Yield to Heavy Withdrawals of Deposits. Louisville, Ky., July 25.-The Merchants' National Bank suspended payment this morning. The Fourth National bank threw up the sponge at 1:18 o'clock this afternoon after a hard fight. A run during the morning, with a drain from country banks, caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." Four national banks have thus far suspended since Saturday. The officers of the Merchants' National Bank assert their solvency, and that depositors and stockholders will receive dollar for dollar. By 10:30 o'clock it became evident to the directors of the Louisville Deposit Bank that they could not meet the day's demands. As the general condition of financial affairs was such as to preclude hope of outside assistance, the directors ordered the doors to be closed, and papers were prepared making an assignment to the Germania Trust Company. The Deposit Bauk was organized a little over a year ago by Moses Schwarze, its president, with a paid up capital of $300,000. It was started at a bad time, and was refused admittance to the clearing house. It, however, seemed to prosper for awhile and at one time its stock sold above par. It might have pulled through but for the suspension of three national banks. A NEGRESS STARTS A RUN. At 1 o'clock this afternoon a small run was caused on the German Bank by an old colored woman who had $50 deposited there. She did not have a certificate with her, and lovdly demanded that she be given her money without identification. The noise she made attracted attention, and in a few moments a hundred people were about. The bank officials had a strong box, said to contain $300,000, brought over from the Louisville Trust Company. The money was spread out on the counter and the cashior announced that he was ready to pay off any and all claims. A few of the small depositors drew their money, but the others were spedily satisfied that the BGerman ank was in no:danger and left. Subsequently a heavy run started on the German Bank and continued up to 3 o'clock. The bank has over $500,000 in cash and $1,500,000 worth of securities, which can be turned into money at a moment's notice. Several banks kept open until 6 o'clock.

7. July 26, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 26, 1893

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Business Complications. The Louisville Bank of Deposits has failed. The Indianapolis National bank has closed. The Taylor County (Miss.) bank has assigned. The First National bank, Orlando, Fla., has suspended. The Bank of Commerce, Indianapolis, has suspended. The Merchants' National bank, Louisville, has failed. E. J. Gaynor, railroad contractor, Pottsville, Pa., has failed. The J. Obermann Brewing company of Milwaukee has failed. The Wisconsin Fire and Marine Insurance bank has closed. Parkhurst & Wilkinson, Chicago iron merchants, have assigned. The G. B. Hodgman Manufacturing company, Sandusky, o., has assigned.

8. July 26, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, July 26, 1893

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ABBREVIATED TELEGRAMS. A Georgia delegate to the Monona lake assembly advocates settling the race problem by establishing a separate state for negroes. Obituary: At Lake Geneva, Wis., Arthur Kaye, proprietor of Kaye's Park hotel. At Ottawa, Ont., Christopher S. Patterson, supreme court judge, aged 70. A New York report says that Grand Master Workman Powderly, of the Knights of Labor, has resigned, and that James J. Linehan, president of the Trade and Labor Assembly of Chicago, is likely to be his successor. Nicaraguan revolutionists have shelled the city of Ma: agua. Two persons were killed and many buildings damaged. United States Minister Baker and representatives of other foreign powers have sent a formal protest to the revolutionary junta. A genuine volcano is reported to have been discovered four miles south of Ponca, Neb. The Plainview (Neb.) State bank, which was burglarized of $3,000 in cash Sunday night has suspended. A cyclone at Cale, I. destroyed a number of buildings and ruined crops. John B. Koetting, cashier of the South Side Savings bank at Milwaukee, which failed Saturday, has mysteriously disappeared. The National Bank of the Commonwealth and the Bank of New England at Manchester, N. H., have suspended. The Ohio Transfer and Storage company's building at Columbus, 0., were burned, causing a loss of $300,000. By the bursting of a boiler the flouring mill of Kenny & Newgard at Hawarden, Ia., was wrecked, entailing a loss of $3,000, not covered by insurance. Frank Chapman, engineer, was seriously injured. The contract for building the Milwaukee city hall has been let to Paul Riesen for $696,348. The convention of Christian Endeavor at Montreal cost the local committee over $100,000, and claims are accumulating in excess of that amount Russian crop prospects have greatly improved. A fairly large yield is now expected, especially of rye, the chief breadstuff of the nation. Statistics gathered by the German imperial commission on labor show that in many parts of the empire the duration of work exceeds fifteen hours daily. The Merchants' National and Louisville Deposit banks, at Louisville, have suspended. This makes four Louisville banks that have collapsed in the last three days. Depositors will lose nothing. Simmons Liver Regulator, bear in mind, is ot an experiment. It is endorsed by thousands

9. July 26, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 26, 1893

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Louisvllle Banks. LOUISVILLE, Ky., July 25.-This will prove a memorable day in the financial history of Louisville. At 10 this morning the Merchants' National bank posted a notice of suspension, and a balf hour later the failure of the Louisville Deposit bank was announced. By this time half a dozen banks in the city were being run on by depositors, mostly small ones. They all withstood the pressure except one, the Fourth National, which closed its doors. Excitement ran high and every one of a half dozen banks was crowded with depositors in line waiting his turn with the paying teller. The first failure of the present crisis was that of the Kentucky National bank Saturday. Then came the Louisville City Monday and the Merchants' National. the Louisville Deposit, and the Fourth National today. The failure of the Merchants' National was caused by withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the Clearing House association, and in its time of need no other bank would give it assistance, The suspension of the Fourth National was the result of a panic. For a week there has been a steady pulling out of deposits. This changed into a run after the suspension of the Kentucky National last Saturday. and even continued Monday and Tuesday and until all funds were exhausted today. None of the failures are considered bad ones. The depositors in the two national banks will be paid in full and the loss to stockholders will not be more than 60 per cent in either case. The Merchants' National bank was capitalized at $500,000 and J. H. Lindenberver was president. The Fourth National's capital is $1,000,000 and the surplus $35,000. Geo. Davis is president. The Louisville Deposit bank has a capital of $300,000 and a surplus of $16,128. Moses Schwarts is president.

10. July 27, 1893 Semi-Weekly Interior Journal Stanford, KY
Article from Semi-Weekly Interior Journal, July 27, 1893

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THREE more Louisville banks, the Merchants' National, the Louisville Deposit and the Fourth National, suspended Tuesday, making five in all to do so. Each claims that the withdrawal of deposits and the failure to get outside aid caused the suspension which will be temporary. Directors and stockholders will be paid in full, they all say, but when, the deponents saith not.

11. July 28, 1893 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, July 28, 1893

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Two at Louisville. LOUISVILLE, July 26.-The Merchants National bank has suspended. LOUISVILLE, July 26.-At 1:30 p. m. the Fourth National bank closed its doors.

12. July 28, 1893 The Columbian Bloomsburg, PA
Article from The Columbian, July 28, 1893

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TROUBLES OF BUSINESS New York Bankers on the Financial Situation. THEIR WORDS NOT ENCOURAGING The Milwaukee Bank that Failed Yesterday Had Been Regarded as One of the Strongest Institutions in the Country. Three Louisville Banks Collapsemost a Panic On the New York Stock Exchange-The Indianapolis Failure. NEW YORK, July 26. - The continued reports of failures among Western banks in the opinion of New York bankers shows that the financial situation there is in no way improving. In fact, it is less encouraging than ever. The feeling is more than confirmed by the suspension of the Wisconsin Marine and Fire Insurance Company's Bank at Millwaukee. "The Wisconsin Marine and Fire Bank," said President Cannon, of the Chase National, "has always been regarded as one of the strongest and most prosperous institutions in the Northwest, and its failure is certainly the most serious calamity that has yet occurred since the financial depression began to be felt in the West. "Such an itstitution going under cannot fail to add to the general distress, and the suspension may be far-reaching in its effects. "I do not like to make gloomy predictions, for the situation is bad enough as it is, and financial institutions need all the support and encouragement that can be given. Yet it is evident that all these failures can be traced to a common cause, anxiety for the future, lack of confidence and the withdrawal of money from circulation.' President J. Edward Simmons, of the Fourth National Bank, also said that the failure of the Milwaukee Bank was in his opinion the most serious that had occurred in the West, as it was an old and wellestablished institution, with extensive connections and ramifications all over the Northwest. Other institutions would undoubtedly be affected by its collapse. The New York banks, he said. by associating as closely as they did had formed a mutually protective organization which had enabled them to tide over the difficult situation, and their strength had undoubtedly contributed to reassure financial institutions elsewhere. He did not think that the crisis in the West had passed, but said that if the banks would form associations to protect each other & great deal of the threatened danger would be averted. NEW YORK, July 26.-Almost a panic raged on the Stock Exchange yesterday afternoon. Stocks dropped away violently, and some of the lowest prices in years were recorded. The failure of the Marine & Fire Insurance Bank of Milwaukee started the heavy selling, and later on the failures of two large banks in Louisville added to the excitement. The Milwaukee Bank is the largest in Wisconsin, and the largest in the West. INDIANAPOLIS, Ind., July 25.-While the Indianapolis National Bank that failed yesterday was a United States depository a but $3,439,96 was tied up. "At our last payment we checked out nearly $200,000 P from the Indianapolis National," said PenS on Agent Ensley. MILWAUKEE, Wis., July 26.-The Wisconsin Fire and Marine Bank of Milwaukee, which suspended yesterday, has always been known as Mitchell's Bank, and was one of the half dozen famous private banks of the continent. It has succumbed to the paper of the Schlesinger Iron syndicate, of which it held $750,000. This paper is all secured by iron receipts, but these could not be used anywhere. LOUISVILLE, Ky., July 26.-Yesterday was a memorable day in the financial history of Louisville. At 10 o'clock a. m. the Merchants' National bank posted a notice of suspension and half an home later the failure of the Louisville Deposit Bank was announced. By this time half a dozen banks in the city were being run by depositors, mostly small ones. They all stood the pressure except one, the Fourth National, which closed its doors in the Board of Trade buildingat 10 o'clock. TOLEDO, o., July 26.-The Farmers' National Bank, of Findlay, has closed its doors. No statement has been given out as yet. No excitement prevails, and the other three banks in the city are prepa red for any run that may follow. A Shoe Factory to Shut Down.

13. July 28, 1893 The Great West Saint Paul, MN
Article from The Great West, July 28, 1893

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AND YET THEY COME. Tuesday evening and Wednesday morning papers were curiosities. Take the Daily News for illustration: One column had a telegraphic report from Eckels, Comptroller, stating that all the trouble was over-the country was safe, and no failures were probable. This was written the 24th. On the 25th and 26th it took over two columns of fine type to record the failures, among them the oldest and strongest banks in the U.S. The most remarkable statement ever made in the financial world came in the finance columns of Tuesday, from New York. It was the statement that "the Philadelphia banks are unable to meet their payments, and the New York exchange is disturbed at this failure on their part!" And yet, so fearful is the goldbug organization that they do not dare to throw Philadelphia into bankruptcy. One attachment issued and over goes everything! We make up a list of a few of the failures, as they occur in one daily issue: Bradford & Church, bankers, Chicago. Henry Bach, wholesale clothing, N. Y. Wisconsin F. & M. Ins. Co. Bank, Milwaukee, by far the strongest bank in the city, and caused great excitement. The city had $1,630,000 in the bank, and will have to suspend payment, as the county did when the Commercial recently closed out. The C. M. & St. P. Ry is also mixed up in it. Several other Milwaukee institutions follow the above failure. New York-a panic raged on the N.Y. stock exchange all day Tuesday, "owing to the bank crashes." "Everything is all right," says Eckels!! INDIANAPOLIS. The Bank of Commerce failed Wednesday. The failure is for over a million dollars.; It was a U.S. Depository, and had over $800,000 of the government funds in it. "It is only a weeding out of banks that ought not to exist," said Eckels, recently! The Indianapolis National Bank failed the same day. "This was one of the oldest and soundest financial institutions in the west." Last week's statement showed over $1,000,000 of bonds to secure depositors! It was the oldest in the city. C. W. Depauw, the banker capitalist, failed on Saturday. The other banks are being run on and several factories have closed. LOUISVILLE. The Louisville Deposit Bank, failed the 25th. The Merchants National went down also, the third national bank to fail in three days, in Louis ville. The Fourth National closed its doors the afternoon of the 25th. The Bank of Commerce went down same day. The Hudson River Tunnel Co., Jersey City, has tumbled. The Hodgman Manufacturing Company, Sandusky, has "gone out." Ripley & Bronson, iron merchants, St. Louis, failed. Olaf Pary, New York Mills, Minn., has collapsed. Wealthiest Finlander in the west. Montezuma Silver Mines, Col., in a receiver's hands. Parkhurst & Wilkinson, iron, Chicago, gone under. $1,000,000. Farmers National Bank, Toledo, closed its doors at noon today. (25th.) Gayner, the great railroad conductor, Pottsville, Pa., assigned today. The St. Louis Steam Heating Co. closed today. Tacoma banks are in trouble. The Manchester National Bank of the Commonwealth went over the 25th. Eastern Cotton mills closing every day. Gloomy. On the morning of the 26th the papers were at last compelled to get off their perch, and admit that the situation as to finances was gloomy, and foreboded disaster. The display heads say, "The New York Money Kings Do not Like the Situation." The New England banks are all tottering. A. meeting of the silver men of New York was broken up by the republican goldbug gang. It was held at 5th Avenue Hotel. Wall Street is at last gloomy. The cloud is darkly gathering. And yet it is but the beginning.

14. July 29, 1893 The Bessemer Indicator Pueblo, Bessemer, CO
Article from The Bessemer Indicator, July 29, 1893

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THE FINANCIAL SITUATION. On the 25th the Mitchell bank at Milwaukee closed its doors Its deposits amount to nearly $3,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their loors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also falled on the 25th. They are the Merchants' National, the Fourth National and the Louisville Deposit bank. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockhoMers will not be more than 60 per cent. In either case. The situation on the New York stock exchange on the 26th was critical and a panic was narrowly averted. The news that the Erle railroad had gone into the hands of a receiver was largely responsible for the break in stocks which felt from 1 to 4 points. H. I. Nicholas & Ea. brokers, assigned.

15. July 29, 1893 The Sun New York, NY
Article from The Sun, July 29, 1893

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Louisville Adopts New York's Clearing House Certificate Plan. LOUISVILLE. July 28.-The Louisville bankers, at a meeting of the Clearing House Association to-day. decided that the exigencies of the situation make it necessary to adopt the New York plan of issuing certificates. A committee will pass upon the collateral of banks needing help. and if found good will issue the checks. It is now certain that two of the five suspended baks-the Merchants' National and the City National-are in shape to resume in a few days. The Fourth National hopes to do the same, but the Kentucky National and Deposit banks will almost certainly go into liquidation.

16. August 10, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 10, 1893

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THREE BANKS TO REOPEN. : LOUISVILLE. Ky,, Aug. D:-One of the four suspended national banks, the Fourth National. is expected to reopen Monday and the City and Merchants' will not be far behind.

17. August 28, 1893 Evening Star Washington, DC
Article from Evening Star, August 28, 1893

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CONTROLLER ECKELS BUSY. Many Suspended Banks Want to Resume Business. The controller of the currency was a busy man today. President Laws of the People's National Bank of Denver, Col., which recently resumed, applied, on behalf of that bank, for authority to absorb the assets of the People's Savings Bank of that city. The controller reserved his decision. Prestdent Dow of the Commercial National Bank of Denver, and President Walters of the First National Bank of Birmingham, Ala., applied to the controller today for authority to reopen those banks. The controller has authorized the City National Bank and the Merchants' National Bank of Louisville, Ky., to resume business September 1. The only bad news received by the controller today was the suspension of the First National Bank of York, Neb.

18. August 28, 1893 The Providence News Providence, RI
Article from The Providence News, August 28, 1893

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National Banks Reopen. LOUISVILLE, Auz. 28.-The Fourth National mank. one of thefive Louisville banks to suspend paymentduring the recent panic, has resumed business. The City Nationat" and the Merchants National will also resume in a few days. CRICAGO, Aug. 28,-At a meeting of the stockholders of the National Bank of Kansas City it was unanimously decided to resume the business of the bank.

19. August 30, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 30, 1893

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Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver. Col.; the State National Ban k of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.

20. August 31, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, August 31, 1893

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Coming Around All Right. LOUISVILLE, Ky., Aug. 31.-Two more suspended banks, the City National and Merchants National, resumed business yesterday.

21. August 31, 1893 The Sun New York, NY
Article from The Sun, August 31, 1893

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National Banks Resume Business. WASHINGTON. Aug. 29.-The following national banks, which recently suspended Dayment. to-day have been permitted to reopen their doors for business. viz.: The German National Bank and the State National Bank of Denver: the First National Bank of Cañon City. Col.: the Louisville City National Bank, Louisville: the Merchants' National Bank of Louisville: the First National Bank of Ashland. Wis., and the First National Bank of Platteville. Wis. Application for authority to organize a national bank was to-day approved by the Comptroller of the Currency for the First National Bank of Woodward. Indian Territory. The Comptroller has authorized the following national banks to reopen on Sept. 1: The American National Bank of Omaha. Neb., and the American National Bank of Nashville, Tenn. The following national banks in Mankato, Minn.. have been authorized to reopen for business on Sept. 7: The First National Bank of Mankato. the National Citizens' Bank of Mankato, and the Mankato National Bank.

22. September 1, 1893 The Times Richmond, VA
Article from The Times, September 1, 1893

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More Banks Resume. LOUISVILLE, KY., Aug. 31.-Two more suspended banks, the Louisville City National and the Merchants National, resumed business yesterday.

23. 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.

24. September 7, 1893 Democratic Northwest Napoleon, OH
Article from Democratic Northwest, September 7, 1893

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# CONDENSED NEWS. A Collection of Interesting Items on Various Subjects, Especially Prepared for the Hasty Readers. Knights of Labor are raising funds to work for the release of Hugh Dempsey now serving a sentence for complicity in the Homestead poisoning conspiracy. Serious trouble is feared in the Kansas coal fields. Armed strikers are encamped near the Atchison, Topeka and Santa Fe mines, near Frontenac, and declare they will not let nonunion men work. At Chicago 25 labor leaders and 25 business men have organized into a relief committee. This joint committee will work together in trying to find work and bread for the unemployed residents of Chicago. Edward Rider, a rich farmer living near Baltimore, was bunkoed out of $5,000 by the old racket-two tin boxes shifted. Posters advertising for recruits for the United States army were torn down in Ottawa. According to full returns the cotton crop of Texas will fall 25 per cent below that of last year. At 2 o'clock Thursday afternoon the first spadeful of dirt was turned for the mid-winter fair in Golden Gate park, San Francisco. Mrs. Perine, Mrs. Cleveland's mother is announced to arrive in Washington about the middle of September "to take care of Mrs. Cleveland." Unless the employes of the St. Paul railroad change their mind there will be no strike. They claim that there is cause but not the slightest chance of success, there being so many unemployed. The national banks at Louisville are getting ready to resume business. Nellie Leavell walked from Marion, Ind., to get into the Indianapolis reformatory because she was mistreated at home. Northwestern Indiana and eastern Illinois are in great danger from prairie fires. There has been no rain in 10 weeks and already fires are blazing in the vicinity of South Bend, Ind. There will probably be great loss before the fires are gotten under control. The salmon run this year in the Fraser river, in British Columbia, is larger than ever before. Some of the small tributaries are so choked with fish that the boats are unable to cross. The run averages 900 to the boat. Many boats were swamped and one fisherman was drowned. One of the richest lead strikes ever made in the Galena region, was made a day or or two ago in an abandoned shaft. Frank T. Howard, brother of Miss Annie Howard, has announced that the marriage of Miss Howard to Mayor Carter H. Harrison of Chicago will take place in the latter part of September at the summer home of the Howards at Biloxi, the watering place of the gulf coast in southern part of Mississippi.