21866. Commercial National Bank (Roanoke, VA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 4026
Charter Number: 4026
Start Date: December 29, 1896
Location: Roanoke, Virginia (37.271, -79.941)

Metadata

Model: gpt-5-mini
Short Digest: 42023c34

Response Measures

Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined

Description

Multiple contemporary reports (Dec 29–Jan 9) state a heavy run precipitated the bank's closing/suspension. Some dispatches say Comptroller's examiner Sands was placed in charge (Dec 29) and later a receiver (Maj. Sam'l Griffin) was named (reported Jan 14). Other dispatches (Jan 7–9) report the bank raised funds and arranged liquidation/payments without intervention of a receiver. Sequence: run -> suspension/closure (liquidation).

Events (6)

1. May 4, 1889 Chartered

Source: historical_nic

2. December 29, 1896 Run

Cause: Rumor Or Misinformation
Cause Details: Public disclosure (or discovery) of Cashier J.C. Davenport's resignation and departure created an unwarranted scare that triggered heavy withdrawals.
Measures: Bank officials and neighboring banks arranged loans and asset transfers; later National Exchange and First National loaned funds to pay depositors; Comptroller placed Examiner Sands in charge.
Newspaper Excerpt: The failure ... was caused by a run on the bank yesterday. Cashier Davenport resigned on the 20th ... and is said to be the cause of the run.
Source: newspapers

3. December 29, 1896 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closure/suspension immediately followed the heavy run; underlying local speculation and boom conditions noted but the proximate trigger was the run after the cashier's resignation became known.
Newspaper Excerpt: The Commercial National Bank of this city closed its doors this morning by order of the board of directors.
Source: newspapers

4. January 7, 1897 Other

Newspaper Excerpt: The Comptroller ... has received information that the Commercial National Bank ... which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver.
Source: newspapers

5. January 14, 1897 Receivership

Newspaper Excerpt: Maj. Sam`l Griffin has been appointed by Comptroller Eckels receiver of the Commercial National Bank of Roanoke, which closed its doors a week ago.
Source: newspapers

6. February 16, 1897 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (24)

1. December 29, 1896 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, December 29, 1896

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Failure of a Virginia Bank. WASHINGTON, Dec. 29.-The failure of the Commercial National Bank of Roanoke, Va., was made known to the comptroller of the currency this morn ing, and Bank Examiner Sands was placed in charge. The failure is attributable to speculation incident to the Roanoke boom. Comptroller Eckels says the failure is not important. On November 21, the date of the last report on the condition of the bank, the assets were $263,704, including bonds to secure circulation; stock, $100,000; surplus, $25,000; undivided profits, $6,000; owing depositors, $75,000; other liabilities, $35,000. LATER --The failure of the Commercial Bank was caused by a run on the bank yes terday. Cashier Davenport resigned on the 20th inst. and turned over the books in good shape to his successor and returned to his old home in Charlestown, W. Va. This fact did not become known until yesterday and is said to be the cause of the run. It is believed that all liabilities will be paid in full. No other banks are in the least affected.

2. December 30, 1896 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, December 30, 1896

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Roanoke Commercial National. ROANOKE, Va., Dec. 29.-The Commercial National Bank of this city closed its doors this morning by order of the board of directors. The cause of the trouble was a heavy run on the bank yesterday by the depositors. On Dec. 9 J. C. Davenport, cashier, resigned, and his successor was elected. The matter was kept quiet until Sunday night, when Davenport left the city for his home, in Charleston, W. Va., and it is stated that as soon as that became known a general run was made on the bank, and it was compelled to go to the wall. The officials say that depositors will be paid in full. Bank Examiner Sands is in charge. Controller Eckels does not regard the failure as a serious one. A Washington dispatch says. The last report to him, made Nov. 21, showed the assets of the bank to be $263,704, including its bonds for circulation; stock, $100,000; surplus, $25,000; undivided profits, $6,000; owing depositors, $75,000; other liabilities, $35,000. The failure is attributed by Mr. Eckels in part to the speculation and boom tendencies which prevailed in that locality.

3. December 30, 1896 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 30, 1896

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Cause of Roanoko Failure. Roanoke, Va., Decembur 29.-The failure of the Commercial National bank which closed its doore this morning, was caused by a run on the bank yesterday. Cashier Davenport resigned on the 20th and turned over the bank's books in good shape to his successor. This fact did not become known until yesterday and is said to be the opuse of the run. It is believed that all liabilities will be paid in full. No other banks are affected.

4. December 30, 1896 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, December 30, 1896

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What Eckels Says About It. Washington, Dec. 29-Comptroller Eckels said this afternoon that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commercial National of Roanoke and the Columbian National of Minneapolis were added to the list to-day. They are comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels, when asked to-day by a representative of the associated press as to the general banking situa. tion, said: "Of course bank failures are more or less disquieting but those which have occurred recently have little or no significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of the banks throughout the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation every depositor being paid in full. The two failures to-day are of minor importance, in each case the bank's capital being only $200,000. "As against these few failures, based on local causes, the general conditions of the banks is excellent Under the last call on Dec. 17, uniformly favorable reports were received and show an average reserve of considerably above 25 per cent., required by law. One of the last reports that of the Brooklyn banks, shows the average reserve held to be 34.2 per cent. and most of the reports run 5 or 10 per cent. above legal requirements In each case, too, the assets in detail make an entirely satisfactory showing as compared with the liabilities On the whole it is evident that the national banks to-day are as stable as they ever were, and the spasmodic failure of a bank here and there through defects peculiar to the failing banks of small im. portance is wholly without general sigalficance. I am advised from Minneapolls that the failure there has occasioned no disturbance beyond the institution concerned."

5. December 30, 1896 The Saint Paul Globe Saint Paul, MN

Article from The Saint Paul Globe, December 30, 1896

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Virginia Failure. ROANOKE, Va., Dec. 29.-The Commercial National bank, of this city, closed its doors this morning by order of the board of directors. The trouble was caused by a heavy run on the bank yesterday. The officials say that depositors will be paid in full.

6. December 30, 1896 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, December 30, 1896

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CONTROLLER ECKLES / Says the Present Bank Failures Are Local and of No Significance. Washington, December 29.-Controller Eckles said this afternoon that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commercial National Bank of Roanoke, Va., and the Columbia National Bank, of Minneapolls, were added to the list today. They are comparatively small institutionse, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckles, when asked today by a representative of the Associated Press as to the general situation, said: "Of course bank failures are mone or less disquieting, but those which 1. ve occurred recently have little or no g6 :eral significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of banks throughout the country at large. As against these few failures, based on local causes, the general condition of the banks is excellent. Reports received under the last call, that of December 17th, are uniformly favorable and show an average reserve held of considerably above the 25 per cent required by law. One of the last reports, that of a Brooklyn bank, shows the average reserve held to be 34.02 per cent, and most of the reports run five or ten per cent above the legal requirements. In each case, too, the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole it is evident that the national banks today are as stable as they ever were and the sporadic failure of a bank here and there through defects peculiar to the failing of banks of small importance is wholly without general significance.

7. December 30, 1896 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, December 30, 1896

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Comptroller Eckels Is Not Scared By Bank Failures. Says There Is No Reason For Apprehension. BANKS IN GOOD FIX. General Conditions ofthe Banks Is First Rate. Failures Were Almost All Due to Local Causes. Washington, Dec. 30.-Comptroller Eckels says he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commercial National bank of Roanoke, Va., and the Columbia National of Minneapolis, were added to the list yesterday. They are comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels when asked today by a reporter of the Asociated Press as to the general banking situation said: "Of course bank failures are more or less disquieting but those which have occurred recently have little or no general significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of banks throughout the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures yesterday are of minor importance, in each case the bank's capital being only $200,000. "As against these few failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable and show an average reserve held of considerably above the 25 per cent required by the law. One of the last reports, that of the Brooklyn banks, shows an average_reserve held to be 34.02 per cent, and most of the reports run five or ten per cent above the legal requirements. In each case, too, the asets in detail make an entirely satisfactory showing as compared with the liabilities. "On the whole it is evident that the natio, al banks today are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank is of small importance, wholly without general significance. "I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

8. December 30, 1896 The Scranton Tribune Scranton, PA

Article from The Scranton Tribune, December 30, 1896

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Virginia Bank Fails. Roanoke, Va., Dec: 29.-The failure of the Commercial National bank, which closed its doors this morning, was caused by a run on the bank yesterday. It is believed all liabilities will be paid in full. No other banks are in the least affected.

9. December 30, 1896 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, December 30, 1896

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Domestic. Van Northwick Brothers' bank in Batevia, III., assigns, Columbia National bank of Minneapolis closes its doors. The Commercial National bank at Roanoke, Va., suspends. Silk and cotton manufacturers heard be. fore the ways and means committee. Changes made in the rules of the pension bureau. The civil service extended to include penitentiary employes.

10. December 30, 1896 The Evening Herald Shenandoah, PA

Article from The Evening Herald, December 30, 1896

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THE BANK FAILURES. Comptroller of the Currency Eckels Feels No Apprehension. HAVE NO GENERAL SIGNIFICANCE. The Comptroller Declares That the Suspensions Are Wholly Due to Local Causes Not Connected with the Condition of Banks in the Country at Large. WASHINGTON. Dec. 30.-Comptroller of the Currency Eckels said today that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commere 11 National bank, of Roanoke, Va., and the 3016 mbia National, of Minneapolis, were added to the list yesterday. They are comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels when asked today by a representative of the Associated Press as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have OCcurred recently have little or no general significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank, of Chicago, was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures yesterday are of minor importance, in each case the bank capital being only $200,000. As against these few failures, based on local causes, the general condition of banks is excellent. The reports received under the last call-that of Dec. 17-are uniformly favorable, and show an average reserve held of considerable above the 25 per cent. required by law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34.02 per cent., and most of the reports run 5 or 10 per cent. above the legal requirement. In each case, too, the assets in detail make an entirely different showing as compared with the liabilities. "On the whole it is evident that the national banks today are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank is of small importance, wholly without general significance. I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

11. December 30, 1896 The Morning News Savannah, GA

Article from The Morning News, December 30, 1896

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BANK FAILS AT ROANOKE. Cashier's Resignation Caused an Unwarranted Scare. Richmond, Va., Dec. 29.-A Roanoke special to the Dispatch says: "The Commercial National Bank of this city closed its doors this morning because of a run on that institution yesterday. This run, it is believed, was caused by the resignation of Cashier Davenport and his departure for West Virginia on Sunday. The resignation was tendered on the 13th, but did not go into effect until the 20th, and for some reason the matter was kept from the general public for a week or more. "Mr. Davenport had been in the employ of the bank for some years, and his books on settlement were correct in every particular. When it was known that he had resigned, the people became uneasy, and the run followed. The total liabilities of the bank amount to about $80,000, and the estimated assets exceed this by about $90,000. The amount due depositors, according to the statement of the bank's condition published last Saturday, was $61,587, but it is believed that at least $12,000 of this sum was withdrawn in the run of yesterday. The capital stock of the bank is $100,000, and as at least 75 per cent. of the stock is held by men of large means, they are believed to be able to meet all liabilities, and pay depositors in full. This is the feeling among business men here, and it is safe to say the suspension has caused but little excitement. Bank Examiner Sands is expected here from Washington.

12. December 30, 1896 The Houston Daily Post Houston, TX

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ECKELS ON THE SITUATION. He Feels No Apprehension on Account of Recent Failures. Washington, December 29.-Comptroller of the Currency Eckels said this afternoon that he feels no apprehension over the bank failures which have occurred of late. Two more failures, the Commercial National bank of Roanoke, Va., and the Columbia National bank of Minneapolis, were added to the list today. They were comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckels when asked today by a representative of the Associated Press as to the general banking situation said: "Of course bank failures are more of less disquieting, but those which have 00curred recently. have little or no general significance attached to them. They were due largely to local causes, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures today were of minor import$200,000. ance, in each case the assets being only "As against these failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable and show an average reserve held of considerably above the 25 per cent required by law. "One of the last reports, that of the Brooklyn banks, show the average reserve held to be 34.02 per cent and most of the reports run 5 or 10 per cent above the 10gal requirements. "In each case the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole it is evident that the National banks today are as stable as they ever were, and the sporadic failures of a bank here and there through defects poculiar to the failing bank is of little importance and wholly without general significance. I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

13. December 30, 1896 The Providence News Providence, RI

Article from The Providence News, December 30, 1896

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NOT APPREHENSIVE. Comptroller of the Currency Says National Banks Are All Right. Washington, Dec. 30.-Comptroller of the Currency Eckels said yesterday afternoon that he feels no apprehension over the bank failures which have occurred of late, Two more failures-the Commercial National bank of Roanoke, Va., and the Columbia National of Minneapolis-were added to the list yesterday, They are comparatively small Institutions, however, and under ordinary circumstances their failures, it is said, would attract only passing attention. Mr. Eekels, when asked as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have occurred recently have little or no general significance attached to them. They were due largely to local causes wholly disconnected with the general condition of the banks to the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures yesterday are of minor importance. As against these few failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call-that of Dec. 17-are uniformly favorable and show an average reserve held of considerable above the 25 per cent required by the law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34.02 per cent, and most of the reports run 5 or 10 per cent above the legal requirements. In each case, too, the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole it is evident that national banks are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing banks is of small importance, wholly without significance. I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institution concerned."

14. December 31, 1896 The Butler Weekly Times Butler, MO

Article from The Butler Weekly Times, December 31, 1896

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Washington, D C., Dec. 29.Comptroller of the Currency Eckels said this afternoon that he feels no apprehension over the bank failures which have occurred of late Two more failures, the Commercial National bank of Roanoke, Va. and the Columbia National of Minneapolis, were added to the list to day. They comparatively small institutions, however, and under ordinary circumstances their failure, it is said, would attract only passing attention. Mr. Eckele, when asked to day by a representative of the Associated Press as to the general banking situation, said: "Of course bank failures are more or less disquieting, but those which have occurred recently have little or no general significance attached to them. They were due largely to local causee, wholly unconnected with the general condition of the banks through the country at large. The case of the Atlas bank was not a failure at all, but was a mere voluntary liquidation, every depositor being paid in full. The two failures to day are of minor importance. As against these few failures, based on local causes, the general condition of the banks is excellent. The reports received under the last call, that of December 17, are uniformly favorable, and show an average reserve held of considerably above the 25 per cent required by the law. One of the last reports, that of the Brooklyn banks, shows the average reserve held to be 34 02 per cent, and most of the reports run 5 or 10 per cent above the legal requirements. In each case, too, the assets in detail make an entirely satisfactory showing as compared with the liabilities. On the whole, it is evident that the national banks to-day are as stable as they ever were, and the sporadic failure of a bank here and there through defects peculiar to the failing bank is of small importance, wholly without general significance. "I am advised from Minneapolis that the failure there has occasioned no disturbance beyond the institu tion concerned." Golden City, Mo., Dec. 29.-The Aldrich Banking Company has gone out of business. BUSINESS FAILURES M. Frank & Co., Fort Wayne, Indiana, have assigned. H. A and G. M. Alishouse of Hannibal, Mo, have gone into the hands of a trustee. Albert Cohn, dry goods dealer of Brenham, Tex., hes failed. The Trenton (N. J.) Dry Goods Co. is in the hands of a receiver.

15. January 2, 1897 Spirit of the Age Woodstock, VT

Article from Spirit of the Age, January 2, 1897

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Caused by a Run on the Bank. ROANOKE, Va., Jan. 1-The - failure of the Commercial National Bank, which closed its doors recently, was caused by a run on the bank. Cashier Davenport resigned Dec. 20, and turned over the bank's books in good shape to his successor.

16. January 3, 1897 The Roanoke Daily Times Roanoke, VA

Article from The Roanoke Daily Times, January 3, 1897

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Atlanta, Jan. 2. —The Journal this afternoon prints the following signed statement from Comptroller of the Currency Eckels: "Washington, Jan. 2. "To the Atlanta Journal: "The bank failures which have occurred have been entirely due to local conditions and in almost every instance defects peculiar to the institutions failing. This is strikingly so in the case of the Commercial National Bank, at Roanoke, Va., and as much so in the failed bank in Texas some weeks since. "The same may be said of all the national banks failing since November 1, and I imagine the same thing will hold good in the State and private banking houses which have ceased to do business. "The banking institutions of the South made, with here and there an exception, a remarkably good showing during the panic of 1893 and the financial distress then was general and acute. No such condition now exists nor will occur upon the one hand, while on the other during the years since then liquidation has gone on, bad paper has been weeded out, and the banks are stronger in cash means. There is no basis for any expectation that either now or in the future the South or any other section of the country will suffer from more than the ordinary number of bank failures incident to the accumulation of slow assets and bad methods of banking. I certainly do not apprehend any difficulty beyond that due to the causes I have stated. "If the attention of the country could be directed towards attending to business affairs in a business way, undisturbed by "wars and rumors of wars" and promises of renewed and continued agitations, the country would enter upon an era of prosperity which in the largest measure would fall to the lot of the people of the South. "The South to-day offers a marvelously rich field for investment, and the capital is at hand to be invested but it will not go there or elsewhere when disquieting rumors are to be met with an uncertainty as to gaining a return for it, confronts the investor. "The opportunity presented to Americans to become rich, prosperous and happy by confining themselves strictly to the immediate needs of their own country was never so great as at this present moment. "JAMES H. ECKELS, "Comptroller of the Currency."

17. January 8, 1897 The News & Observer Raleigh, NC

Article from The News & Observer, January 8, 1897

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TELEGRAPHIC BRIEFS. Atlanta, Ga., Jan. 7.-The State Railroad Commission to-day adopted an order refusing to change the recent circular reducing the railroad rates on fertilizers 20 per cent. San Francisco, Jan. 7.-The steamship Coptica arrived to-day from Hong Kong and Kokohama and Honolulu. Minister Willis, who has been very ill at Honolulu, is reported to be slightly improved in health. Jacksonville, Fla., Jan. 7.-Special to the Citizen from Tampa says: Senatorelect Money arrived to-night from Cuba, and soon afterwards left for Washington, He refused to talk on the issues of the Cuban war. Lynchburg, Va., Jan. 7.-J. H. Valentine, formerly of this city, but now of Norfolk, made an assignment here today for the benefit of his creditors to H. D. Flood, trustee. The amount of liabilities is $23,725.79. Augusta, Me., Jan. 7.-The inauguration of Governor Llewellyn Powers and other State officials took place to-day. The exercises were witnessed by an unusually large gathering and were attended with the usual formalities. Washington, Jan. 7.-The Comptroller of the Currency has received information that the Commercial National bank of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. Bismarck, N. D., Jan. 7.-The election of Hansbrough to the Senate from this State is practically accomplished. His supporters have the pledges of a majority of the Republican members of the Legislature and unless these pledges are broken Hansbrough will win on the first ballot. Baltiore, Md., Jan. 7.-Miss Ida V. Hoagland, private secretary to Miss Mary Garrett, fell down the elevator shaft at Miss Garrett's house, 101 West Monument street, to-day and died from the effect of the injuries she received. Miss Hoagland fell from the third floor to the basement, a distance of about 40 feet. Lansing, Mich., Jan. 7.-The two houses of the Legislature convened in joint session this afternoon and listened to the addresses of the retiring and incoming Governors. Governor Pringree's address at the outset recomemnded abolishment of party conventions, which he asserted, have become the mediums of trickery, bribery and fraud. He advocated instead the direct vote and the Australian ballot system in nominating candidates. London, Jan. 7.-In view of the statement made to United States Ambassador Bayard last year (regarding alleged violations of the provisions of the Bering Sea Treaty,) by Herman Liebes, of the North American Commercial Company, Mr. Bayard made certain representations to the State Department. Mr. Liebes has now made further statements to the Ambassador concerning this year's catch and the matter will doubtless be brought to the attention of the Washington authorities. Havana, Jan. 7.-Dr. Casper Betancourt, a naturalized American citizen, and a well-known dentist, who was arrested here on December 7th as a political suspect, is said to have been one of the leaders of the insurgents during the tenyears' war. It now appears that he is charged with conspiring against the government in handling mail matter intended for the insurgents, in connection with Gustavo Martinez. the collector of the Revolutionary Junta, the agent of Aguirre, the insurgent Pleader and Jose Maria Diaz, the agent of Castillo, also leader of the insurgents.

18. January 8, 1897 The Roanoke Daily Times Roanoke, VA

Article from The Roanoke Daily Times, January 8, 1897

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GOOD NEWS. Commercial National Depositors Will be Paid in Full. Washington, Jan. 7.-The comptroller of the currency has received information that the Commercial National Bank, of Roanoke, Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver.

19. January 8, 1897 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, January 8, 1897

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GOT A STRAIGHT TIP BANKS THAT STOOD FROM UNDER A GREAT FINANCIAL SMASH. Somebody. Nobody Will Tell Who, Told Certain Favored Banks What Was Going to Happen to the National Bank of IIIIneis, Giving Them an Opportunity to Withdraw Their Deposits Which They Were Swift to Improve-Eckles Names Bank Receivers-American National, of Denver Re-opens-Day's List of Failures Chicago, Jan. 7.-It has been ascertained positively that several banks which had deposits in the defunct Natioral Bank of Illinois were warned of what was to come and as a result their money was withdrawn just in time to save them from being carried down with the wreck. Henry W. Austin, president of the Oak Park State bank, made the statement today that he had received information of the dangerous condition of the Illinois National during the week previous to the failure. Acting upon this tip, Mr. Austin says, he immediately took out of the bank the money his bank had there. Five thousand dollars was withdrawn Friday previous to the Monday in December when the National Bank of Illinois failed to open its doors for business. The following day, Saturday, $45,000 more, which constituted the balance due the Oak Park State bank by the National Bank of Illinois was taken out. Hinckley and Tilden, proprietors of the West Side bank, were also warned In time to withdraw their cash from the tottering institution. Mr. Austin refused positively to state who his informant was. He said, however, that he was not a director or official of the Illinois National. BANK RECEIVERS NAMED. Washington, Jan. 7.-The comptroller of the currency has appointed Bank Examiner Blancing temporary receiver of the First National Bank of Sioux City, and Examiner Anheir receiver of the Citizens National bank, of Fargo, N. D. Both of these appointments are temporary, pending resumption. Bank Examiner Turtilot has been appointed rereiver of the Second National, of Grand Forks, N. D. The comptroller has received information that the Commercial National bank of Roanoke, W. Va., which suspended some time ago, has raised sufficient funds with which to go into liquidation without the intervention of a receiver. DENVER BANK RE-OPENS. Washington, Jan. 7.-The American National bank of Denver, Colo., which suspended payment April 21, 1896, having complied with the conditions imposed by the comptroller of the currency precedent to resumption, has today been permitted to re-open its doors for business as a national banking association. Denver, Colo., Jan. 7.-The American National bank re-opened today under its old management with $600,000 cash on hand to meet liabilities and conduct business. There remains but $200,000 of liabilities to be provided for out of all other assets of the bank. DAY'S LIST OF FAILURES. New York, Jan. 7.-J. J. Johnston & Co., a corporation, dealers in diamonds, jewelry and silverware, today assigned to John R. Keim, and Arthur H. Masten. The liabilities are reported to be $219,000 and assets about $201,000. St. Paul, Minn., Jan. 7.-A Preston, Minn., dispatch to the Dispatch says: The Bank of Canton, at Canton, and the Citizens bank of Lanesboro, both owned and operated by Field, Kelsey & Co., suspended business yesterday. Lancaster, Pa., Jan. 7.-Schroder, Smith & Schroder's ready-mixed paint works were entirely destroyed by fire today. The origin of the fire is unknown. The members of the firm decline to make an estimate of the loss, but it is thought to be fully covered by insurance.

20. January 9, 1897 The Roanoke Daily Times Roanoke, VA

Article from The Roanoke Daily Times, January 9, 1897

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A SETTLED FACT. The Commercial Depositors to be Paid Within Two Weeks. The depositors of the Commercial National Bank, of this city, are now assured that they will get all their money back dollar for dollar in the course of the next ten days or two weeks. It has been an open secret here for nearly a week that the National Exchange Bank and the First National Bank were making are rangements to purchase the assets of the Commercial National and assume enough of the liabilities to make good to depositors the payment of all the money they had in the bank when its doors were closed. This agreement has been reached between the officers of the two first mentioned banks and the directors and stockholders of the Commercial National: but as nothing could be done without the approval of Comptroller Eckels, it was necessary that he be made acquainted with the proposed arrangement before any further steps were taken. This was done and as was announced in the dispatch from Washington published in yesterday's Times, the proposal met with the approval of the comptroller, who has authorized that liquidation of the bank's affairs be commenced at once. According to the agreement, the National Exchange and the First National Banks have loaned the Commercial an equal amount each, with which to pay all depositors, and as soon as the papers have been signed, the depositors will be notified as to which of these banks will pay them their money. The securities given the other banks by the Commercial are believed to be ample to indemnify them against loss, but as the stockholders of the Commercial are responsible for the full amount of their stock until the entire obligation is discharged the investment is regarded as a perfectly safe one in all respects. It is not, however, believed that the stockholders will be called upon to help out the liquidation, as it is thought that the assets of the bank will be amply sufficient to meet all its obligations. As the Commercial National Bank had on hand when it closed its doors $22,000 in cash assets and good collateral, it would seem that there never was any reason for closing its doors in such a hurried manner. It developed the fact, however, that the management of the bank had

21. January 9, 1897 The Roanoke Daily Times Roanoke, VA

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The announcement from Washington that the Commercial National Bank, of this city, will go into liquidation without the intervention of a receiver is gratifying intelligence; but Is fully in accord with the information published heretofore in The Times. Those well informed concerning the matter predict that all depositors will be paid in full in a short time.

22. January 13, 1897 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, January 13, 1897

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Domestic. The long threatened split in Tammany Hall, New York City, came when Henry D. Purroy, with several district leaders, openly bolted the organization and announced that he would form a new Tammany. Isaac Zuker was sentenced to thirty-six years' imprisonment for arson by Judge Fursman, in the Criminal Branch of the Supreme Court, New York City. Burglars entered the branch office of the Metropolitan Insurance Company, in West Forty-second street, New York City, and after blowing open a big safe in front of an open window stole $1500 in cash and valuable jewelry. Mrs. James Abercrombie Burden, wife of a millionaire iron founder. was attacked on Fifth avenue, in New York City, in broad daylight, by a highwayman, who flourished a knife, threw her down and ran off with her pocketbook. He was captured by Policeman Young after a hot chase. The Columbia National and Washington Banks of Minneapolis. the Commercial National Bank of Roanoke, Va., and the Van Nortwick Bank at Batavia, III, closed. Fire destroyed the electric light plant in Newark, N.J., and the city and'several nearby towns were left in darkness for a right. Isnac Zuker was convicted of arson in the first degree in having planned the burning of his building in New York City in January, 1892. The Atlas National Bank, of Chicago, Ill., began liquidating its affairs, and the Dime Savings Bank, of the same city, required depositors to give ninety days' notice of withdrawals. Three masked men, armed with revolvers, entered the saloon of Mrs. Mary Bernhardt, In Chicago, at 11 o'clock p. m., and robbed the place of $450. Mrs. Bernhardt was bebind the bar when the men came in, and two patrons of the place were sitting at a table playing dominoes. Two men were killed and another was fatally shot in a general fight six miles north of Mount Vernon. Ky. The dead are A. Rowland and Jack Rigsby. The wounded man is Greeley Lear. The fight began at a merrymaking. and was fought out on the highway in Kentucky feudal fashion between opposing factions. At Superior, Wis.. anticipating a run, the Bank of Superior did not open for business. Henry S. Butler is assignee. and has assumed charge of the bank's affairs. The failure is due to poor business and heavy withdrawals since recent failures in St. Paul and Chicago. The capital of the bank was $25,000, with a surplus of $6000. The deposits were nearly $100,000, including $13,210 of city funds. More than $1,500.000 was voted to hospitals, asylums and other charitable institutions for 1897 by the Board of Estimate, of New York City. The Lehigh Mills, in South Easton, Penn., manufacturers of cotton goods, have shut down for four months. and there is said to be but little prospect of a resumption at the end of that period. Depression in business is given as the cause of the shut-down, and one hundred employes are affected. The plant was started nearly one hundred years ago, and this is the first shut-down it has experienced. City Treasurer Turner. of Boston. Mass., opened bids for $1,890,000 3½ per cent. and four per cent. ten, twenty, and thirty year loans. The contract was awarded to Blake Brothers and R. L. Day. whose bid was $1,944,286 for the entire loan. The Scandia Bank, of Minneapolis, Minn., closed its doors. It was organized fifteen years ago by M. Grinager, a prominent Scandinavian politician. who died in 1893. Its President is R. Sunde, who came to Minneapolis ten years ago from Wilmar. Minn., where he had made a fortune as a money lender. Thomas J. O'Malley, a Chicago Alderman, has been indicted for the murder of "Gus" Colliander, in an election booth in 1894. A mail train from the West was robbed at one of the New York City stations and a large sum of money taken from letters addressed to New York firms. The letters, without in. closures, were found in the lower bay. Mrs. Agnes Antoinette Halpin, wife of ex. Assemblyman William Halpin, died in New York City of nervous exhaustion, collapse and gastritis, caused by the excessive use of Jamaica ginger. This habit is said to be prevalent in many places. The West End Street Railway Company of Boston, on which a strike occurred recently, discharged 700 union men, including the members of the Conference Committee and officers of the union. The Board of Directors of the Security Mortgage and Trust Company, Dallas, Texas, made application for the appointment of a receiver. The liabilitieso the company are, approximately, $2,000,000. Georgia's alleged titled convict, "Lord Beresford, as Sidney Lascelles called himself, was madea freeman by act of Governor Atkinson, who took pity upon him and pardoned him for his model conduct while in prison. The Atlas National Bank, Chicago, decided not to open its doors again, and the Clearing House will advance $600,000 tc help it pay all claims on demand. The bank has a capital of $700,000. W. C. D. Grannis is President. Thesecurities were examined and found to be ample to pay all claims in full.

23. January 14, 1897 Staunton Spectator and Vindicator Staunton, VA

Article from Staunton Spectator and Vindicator, January 14, 1897

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VIRGINIA NEWS. Jesse Henson, a young myn on a vis. it to friends in Buena Vista during the holidays, accidentally shot and killed himself whilst hunting. Maj. Sam`l Griffin has been appointeb by Comptroller Eckels receiver of the Commercial National Bank of Roanoke, which closed its doors a week ago. Mr. John Lewis Cochran, Jr., son of Judge John L. Cochran of Charlottesville, and Miss Anna Mayberry Waldbridge of Chicago, were married last week." Rev. T. M. Carson, rector of St. Paul's Episcopalchurch at Lynchburg, elebiated the twenty-seventh anni versary of his rectorship in that church Sunday. 4th inst. Major Lewis Giater, the principal owner Jefferson a lot of land admond, has of the purchased Hotel, Rich joining the hotel, upon which he will erect a handsome probably Theo. theatre. Wong has left the University to return to his home in some work having of in Va. completed special China, the academic department. in the December on ber Wong's of the article University Magazine num- Mr. the of China" attracted attention "Customs The and very favorable comment. much body of a young man answering of Eddie and suddenly the ed description mysteriously Carneal, disappear who from his home in Spottsylvania on county last week, was found the railroad track near Ashland last Sunday. Mr Samuel Garland Payneof Lynchburg, son of the late Mosby H. Payne, night, 4th inst., at his great aunt, Mrs. residence died Sunday of Mary the Lightfoot Garland. He was but years was the last member had been the family. old and He attending of 18 Hampden Sidney College. City Council, in it The Norfolk joint session, have declined to consider the of Assistant Chief Frank shot resignation Fire Department Chief Woods, of who the Martin J. Ryan for to the mayor. On ing dation him of recommen- report the city chief executive, how ever, the assistant chief was summarily discharged from the service. Senator W. A. Little, Jr., of Freder has been invited Vir in Atlanta, to glnia icksburg, Society Ga., by the deliv er the annual address before on 19, Gen. Lee's society and be Jan. birthday that to their guest at their annual banquet held on the evening of same Senator Daniel and other day. one the Virginian have been heretofore 80 honored. The Goochland county jail was burn ed on the 6th. It supposed to be the Bowles, , jail, and but work fined in of the Frank colored, recently con re leased from the penitentiary. This t a The county h, in debt, is not in a_con ready severe heavily loss. being al T, dition to rebuild. This is the third s. time this jail has been destroyed fire. of The polishing shop, stone sheds and office of the Rattlefield Granite Com t pany, loeated at the le Alart & at were totally pickle depot, factory, adjoining Fredericksburg McGuire destroyed of last week. to have by fire is supposed tramps fire Wednesday originated fr Th building a fire to warm the loss at $2,000. selves. mates the Mr. York, manager, Noinsurance them The Association for the of Antiquities last its Virginia annual Preservation week hel meeting in Richmond. Mr tendered her the Association Joseph tion, but it Bryan declined resigna accept and re elected her report of the to be in a the ly. condition. organization The Treasurer unanimous prosperou It was determined to a y quire Temple farm, at Yorktown. possible. 18. Charles Payne, a negro man, me with a terrible accident in Richmon on the 6th inst., which result While his death. the third washing may windows floor of the Broad Stree Methodist church, Payne fell The iron fence below. fall was about distance on of twenty feet. Helande on one the iron pickets, right side. He trated his of which remaine suspended in this position until saw him and came to his O'Ferrall has sers-by Governor received relie pa of the circular letters sent in the to present at the them the executives be country, inauguratic out invitir to McKinley. That including the to Adjutant General of of was the President referred invitation militar portio Governor he is how many, if derson. informed from this The says any. troo n A State will attend the ina He has not decide will go. If he whether probable gural ceremonies. he does, it that he will be accompani by his full staff. Mrs. George Logan, of Salem, has put in of estate, located in worth been of of real possession the $100,0 V be part Atlanta, Ga. She gets this as one of the Colonel Lemuel P. C of who uable the left property late legate Gran an estate of $600,000.

24. January 14, 1897 Democratic Northwest and Henry County News Napoleon, OH

Article from Democratic Northwest and Henry County News, January 14, 1897

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Tuesday. The bog slide at Castle Island roars like the sea. Two tramps were frozen to death at Eastfort, L. I. Ireland has been overtaxed to the amount of $13,750,000. Liberal Catholics in Canada threaten to leave the church. Italians are again rioting along the Erie canal in New York. The Columbia National bank of Minneapolis has suspended. Shoe factory employes in Georgetown, Mass., are on a strike. Ex-Queen Lilioukalani has taken modest quarters in a Boston suburb. The Commercial National bank of Roanoke, Va., has closed Its doors. The large furniture house of Julius Lansburg was burned in Washington. The birthday of Gladstone, born Dec. 29, 1809, was appropriately celebrated. The commissioners of Lane county, Kan., have declared the county insolvent. Cuban insurgents are concentrating their forces in Santa Clara, near Matanzas. George Gilmore, a wealthy rancher in Rawley county, Kan., was assassinated. Allen Hense Downe was convicted of murder in the first degree in Denver for killing Josel Gansworth.