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Has Been Helping Other Banks. TACOMA, Wash., July 24.-The Tacoma National bank, one of the strongest in the northwest, suspended this morning. This bank has been assisting other banks in this city the past six months.
22437. Tacoma National Bank (Tacoma, WA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 2924
- Charter Number
- 2924
- Start Date
- July 24, 1893
- Location
- Tacoma, Washington (47.253, -122.444)
Metadata
- Model
- gpt-5-mini
- Short Digest
778b4667
Response Measures
None
Receivership Details
- Depositor recovery rate
- 21.0%
- Date receivership started
- 1894-12-14
- Date receivership terminated
- 1900-08-09
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 11.8%
- Share of assets assessed as doubtful
- 72.2%
- Share of assets assessed as worthless
- 16.1%
Description
The bank first suspended during the July 1893 panic (no explicit run described). It reopened in Dec 1893 under an arrangement with depositors, then closed again Dec 3, 1894 and went into liquidation; a receiver was appointed mid-December 1894.
Events (6)
1.
April 13, 1883
Chartered
- Source
- historical_nic
2.
July 24, 1893
Suspension
- Cause
- Macro News
- Cause Details
- Suspended during the financial stringency/panic of July 1893; had been assisting other local banks and was affected by the broader crisis.
- Newspaper Excerpt
- The Tacoma National bank, one of the strongest in the northwest, suspended this morning. This bank has been assisting other banks in this city the past six months.
- Source
- newspapers
3.
December 5, 1893
Reopening
- Newspaper Excerpt
- With the indulgence of its depositors, the Tacoma National bank expects to reopen shortly ... Ten per cent. cash upon the reopening of the bank; 15 per cent. on December 20 next; ... (article states bank will resume on Monday / opened up last Monday morning).
- Source
- newspapers
4.
December 3, 1894
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Closed and announced it was going into liquidation after poor business since reopening; deposits and liabilities had fallen and officers hoped comptroller would permit liquidation.
- Newspaper Excerpt
- The Tacoma National Bank closed its doors this morning. The cashier posted a notice stating that the institution was going into liquidation.
- Source
- newspapers
5.
December 14, 1894
Receivership
- Source
- historical_nic
6.
December 15, 1894
Receivership
- Newspaper Excerpt
- Phillp P. Anderson ... has been appointed receiver of the Tacoma National bank.
- Source
- newspapers
Newspaper Articles (23)
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The Tacoma National Bank Suspends. TACOMA, July 24--Special.]-At a meet. ing of the directors of the Tacoma Na. tional bank this morning it was decided that, in justice to the depositors, the bank should suspend temporarily, consequently the doors were not opened. The officers of the bank are: W. B. Blackwell, president: John Snyder. vice president; H. O. Fishback. cashier: I. M. Heilig. assistant cashier: Allen C. Mason, I. W. Anderson, W. B. Blackweil, Louis D. Campbeil, John Snyder, directors.
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More Bank Failures. TACOMA, Wash., July 24.-The Tacoma National Bank, one of the strongest 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 Louisville City National Bank closed its doors at 11:50 this morning.
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Tocoma National Goes Under. TACOMA. July 25.-The - Tacoma National bank, one of the strongest in the Northwest, has suspended. This bank has been assisting other banks in the city for the past six months.
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MORE WESTERN BANKS FAIL. EX-UNITED STATES TREASURER HUSTONS INSTITUTION AMONG THEM. THE LOUISVILLE CITY NATIONAL SUSPENDS PAYMENT-MANY POOR PEOPLE IN CHICAGO LIKELY TO LOSE THEIR SAVINGS. Connorsville, Ind., July 24.-The Citizens' Bank, owned by ex-United States Treasurer Huston, failed to open its doors this morning, owing to the financial stringency. The liabilities will not exceed $150,000. The depositors will, it is said. be paid in full. In an interview Mr. Huston said, regarding the suspension of the bank: "It is my misfortune. None of the depositors or creditors will lose a cent. My personal property will more than cover all liabilities, to say nothing about the real estate. It will not affect any of the industries in which I am interested in the least. The real cause of the suspension 1s the rumors that have been spread abroad that I was Interested in foreign speculations and thad lost heavily. There is nothing in the story, but it had the effect to scare quite a number of my depositors. which left me in a crippled condition. The bank is my own individual property, and every dollar that I am worth will stand good for my liabilities. No one will lose anything. All that I ask is a little time, and everything will be adjusted satisfactorily. I have been building up a business for twenty years here. and always took pride in my honesty. Now I have the opportunity to show the people that I am honest. I want no one to lose anything, not even those who have been Instrumental in bringing my misfortume about." Louisville. July 24.-The Louisville City National Bank suspended payment at 1:20 o'clock this afternoon. It has a capital of $400,000. The announcement that it had closed for business was not anexpected. The bank found that It was impossible to realize on the assets. owing to the financial stringency. Deposits received to-day will be returned to the bank's patrons. Tacoma. Wash., July 24.-The Tacoma National Bank. one of the strongest in the Northwest, suspended this morning. It has been assisting other banks in the city for the last six months. Great Falls, Mont., July 24.-The Merchants' National Bank closed its doors to-day at noon. A notice, signed by the directors, stating that all the depositors will be paid in full, was posted. Milwaukee, July 24.-It was expected that the runs of Saturday on several of the banks would be renewed to-day, but none were started, and. unless something unforeseen again disturbs the business world, matters at the banks will be in their normal condition in a few days. It has been definitely decided that the Milwaukee National Bank will soon reopen its doors. Chicago, July 24 (Special).-Bradford & Church, bankers, of Dearborn-st., have closed their financial institution. The deposits are said to aggregate be tween $20,000 and $30,000. A year ago E. D. and J. D. Bradford made some money in a land deal at Tolleston, Ind., and soon afterward opened a private bank. The first thing they did after having their sign painted was to distributed several thousand small iron banks among the poor people of Chicago. The banks could be opened only by the Bradfords. When one of these receptacles was filled with small coins the holder would take it to B:adford's, have It emptied and get credit in a deposit book for the amount. Last March E. D. Bradford retired, and George Church was admitted as junior partner. Nearly a month ago Bradford and Church went away and have not been seen since then. Frank V. Homer. the cashier, was left in charge. and about a week ago he disappeared. Since that time nothing has been seen of anyone connected with the bank.
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MORE BANKS SUSPEND. The Creditors and Depositors of That Owned by Ex-Treasurer James N. Huston will Not Lose Anything. CONNERSVILLE, Ind, July 24.-The Citizens' bank, owned by ex-United States Treasurer Huston, failed to open its doors this morning, owing to financial stringency. Liabilities and assets are not yet made known. The depositors will, it is said, be paid in full. In an interview with ex-Treasurer J. N. Huston regarding the suspension of the Citizens' bank he said: "It is my misfortune. None of the depositors or creditors will lose a cent. My personal property will more than cover all liabilities, to say nothing about the real estate. It will not affect any of the industries in which I am interested in the least. The real cause of the suspension is the IU. more that have been spread abroad that I was interested in foreign speculations and had lost heavily. There is nothing in the story, but it had the effect to scare quite a number of my depositors, which left mein a crippled condition. The bank 18 my own individual property, and every dollar that I am worth will stand good for my liabilities. No one will lose anything All that I ask is a little time and everything will be adjusted satisfactorily. I have been building up a business for twenty-years here and always took pride in my honesty. Now I have the opportunity to show the people that I am honest. I want no one to lose anything, not even those who have been instrumental in bringing my misfortune about." PLAINVILLE, Neb, July 24.-The Plainville State bank was robbed last night of about $3,000 in cash. In consequence the bank did not open its doors this morning. LOUISVILLE, July 24 -The Louisville City National bank suspended payment at 1:20 o'clock this morning. The bank has a capital of $400,000. The announcement that the bank had closed for business was not unexpected. The bank found that it impossible to realize on the assets, owing to the financial stringency. Deposits received to-day will be returned to the bank's patrons. TACOMA, Wash., July 24.-The Tacoma National bank, one of the strongest in the northwest, suspended this morning. This bank has been assisting other banks in the city for the past six months. QUIET IN MILWAUKEE. MILWAUKEE, July 24.-There was a good deal of nervousness in banking circles this morning and runs developed on & number of banks' But toward noon things quieted down and the alarm of depositors is rapidly subsiding. It now looks as if the crisis had passed. The nervousness of to daylis the result of senseless rumors set afloat after banking hours on Saturday. GREAT FALLS, Mont., July 24.-The Merchants National bank closed to day. The directors state that all depositors will be paid in full. The bank held $73,000 of in public funds.
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LATER. THE Forest and Dean mines near Highland Falls, N. Y., which had been in operation continuously for a hundred years, closed down for an indefinite period. SEVENTY guards in camp at Seagirt, N. J., were poisoned by drinking from cups washed in oxalic acid. A PIRATICAL outbreak occurred among the Achinez passengers on board the Dutch steamer Rajah Kongsee, trading on the eastern coast of Achon, and the Achinez killed the English captain, mate and twenty-two of the Asiatic sailors. DURING a gale at Buzzard's Bay, Mass., a yacht was capsized and six persons were drowned. THE Plainview (Neb.) State bank was robbed of $3,000 in cash, and in consequence the bank did not open its doors. THE extensive manufacturing firm of Bradley & Co. at Syracuse, N. Y., went into a receiver's hands with liabilities of $350,000. A SEVERE cyclone passed over the little town of Cale, I. T., destroying houses, barns, and everything in its path. FROM twenty to thirty Chinamen are said to enter the United States nightly via the Mexican border. A BLAZE in the Ohio Transfer & Storage company building at Columbus, O., destroyed the plant. Loss, $300,000. THREE boys and a man were killed by the explosion of a powder house near Huntington, Ind. BANK failures were reported as follows: The First national at Orlando, Fla., Tacoma national at Tacoma, Wash., City national at Louisville, Ky., Citizens at Connersville, Ind., Taylor county at Medford, Wis., and the National bank of the commonwealth and Bank of New England at Manchester, N. H. THE two hundredth anniversary of the birth of the city of Detroit, Mich., was celebrated. GAUDAUR defeated Hanlan in the boat race at Toronto, Ont., for the world's championship. DIRECTOR GENERAL DAVIS, President Higinbotham, Commissioner St. Clair, Commissioner Massey and Director C. H. Schwab were served with a notice to appear in court before Judge Stein in Chicago to show cause why they should not be attached for contempt of court in not opening the gates of the exposition on Sunday in violation of the injunction against closing issued in the Clingman case.
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Tacoma National Bank Seeks to Reopen. TACOMA, Aug. 18.-[Special.j-With the indulgence of its depositors, the Tacoma National bank expects to reopen shortly and to settle all accounts much quicker than should a receiver be appointed by the following plan, which was announced today: "At the suggestion of the comptroller of the currency, in order to facilitate the reopening of the bank, we have decided to ask the co-operation of each of our depositors in the following manner, namely: That each depositor call at the bank with his or her bank book or certificate, and enter into an agreement with the bank that deposits shall be drawn only in the following manner: Ten per cent. cash upon the reopening of the bank; 15 per cent. on December 20 next; 25 per cent. on March 20, 1894; 25 per cent. on June 20, 1894. and 25 per cent. on September 20, 1894."
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The Mealy-Lacey mill at Chehalis has resumed. Aberdeen will make its tramps work on the streets. Threshing is on again full blast about Rosalia. Counterfeit silver dollars are plentiful at Walla Walla. H. S. Owen's $4,000 residence burned at Lake Steilacoom. Lewis county's expenses for the last quarter were $33,083. Edwin H. Hatfield, of Tacoma, died in that city yesterday. Shingle certificates circulate as currency at Blaine stores. Spokane's council has declined to revise the city charter. Snohomish shingle mills are preparing to run all winter. Two freight cars were wrecked in a collision at Walla Walla. Garfield schools, closed on account of diphtheria, have reopened. The Tacoma National bank expects to resume November 1. Cathlemet farmers will experiment with fall planting of potatoes. It is raining dreadfully again throughout the Palouse valley. Whitman county horticulturists meet at Pullman, November 4. A trainload of cattle has gone, to South Omaha from Uniontown. Seattle is laying off a good many city employes to save expenses. Tacoma Mystic Shriners will have a great festival Wednesday night. The Puget Sound Schoolmasters' Club meets at Everett Saturday. Kalama's municipal debt is $1,000 and coming annual budget $858. The bridge across the Tukanon at Starbuck, 280 feet long, is completed. Charges of wastefulness in the Ruby creek trail work arebeing investigated. Snohomish is worried over improper bookkeeping in its treasurer's accounts. The Day brothers are shooting 3,000,000 falls. feet of logs over Snoqualmie The Supreme Court has pronounced legal. the Port Angeles bonding proposal Walla Wallans changed a $50, $90, $20 stranger. and $10 confederate bill for a Colfax will raise $16,046 municipal valuation. taxes, being 13 mills on its $1,233,377 The government quarantine buildcompleted. ings near Port Townsend are nearly Uniontown's new brick schoolhouse, stories high, is nearly ready for occupancy. Major E. A. Routhe is setting out 1,000 strawberry plants on his Stevens county ranch. A half-mile race track is being built on Dr. Clowe's place near Fort Walla Walla garrison. Engvel Halvorson, a Tacoma team. ster, dropped dead from over-exertion while loading hay. Twenty-eight notices of final proof on timber-land claims are running in the Winlock Pilot. The West Virginia colony recently arrived at Chehalis will settle in the Big Bottom country. Blaine's school funds have given out and money to run the schools is being raised by subscription. Funds have given out for the two bridges Snohomish county is building over the Stillaguamish. The hop crop of the Bishop ranch near Chimacum has gone East. It will bring about $5,000. Six carloads of canned salmon have arrived at Fairhaven from Vancouver for shipment to London. Hundreds of wild geese are feeding in the grain fields in the vicinity of Lake, in Asotin county. The new courthouse in course of construction at Mount Vernon has been insured for $10,000. An Ocosta hen moved to Montesano on the cowcatcher of an engine and has located permanently. William Phillips, under bonds at Chehalis for assault, has fled and left his bondsmen in the lurch. W. F. Thompson, of the late lamented Westport World, will start a weekly paper at Sprague. E. J. St. Louis was discharged at Everett for assault on his sister, and held for incest in $1,000 bonds. it J. H. Coblentz has been elected 0 Warden of the State Penitentiary to succeed J. A. McLeod, resigned. d d Toledo United Workmen had swell celebration of the third an- a le niversary of the lodge's formation. John Uphouse, of Sedro, is said to it have discovered asbestos deposits of considerable richness and extent. a The Bellingham Bay & Eastern railroad is bringing in about 20 carloads of logs daily from
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Brief Tacoma News. TACOMA, Oct. 25.-(Special.]-E. 8. Alexander has been appointed receiver for the Tacoma Box Company. The Tacoma National bank, under an arrangement with its depositors, will open its doors again on November 1. Dr. W. H. Fox, who was in charge of the pest house summer before last during the smallpox epidemic, has been married in Chicago. The Tacoma Lumber and Manufactur. ing Company has appealed from Judge Stallcup's decision placing a receiver in charge of its property. Reina Sorenson was committed to the Steilacoom asylum today by Judge Parker, She is suffering from suicidal mania, and has been in the asylum before, C. D. Ball has bought the Sunday Herald from Hal Hoffman. The court-martial which was to try four members of Company C, First regiment, N. G. W., adjourned again tonight till Friday evening at 8 o'clock. This action was necessitated by the absence of two of the officers.
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A BANK TO RESUME. Tacoma, Dec. 2.-The Tacoma National Bank, which suspended four months ago, will resume on Monday.
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The Tacoma national bank which suspended business the 24th of July last, opened up all right last Monday morning, which shows a tendency to better times on the Sound.
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CLOSED ITS DOORS. The Tacoma National Bank Suspends for the Second Time. TACOMA, Dec. - The Tacoma National Bank, which closed its doors during the panic of July 22, 1893, and reopened on December 5th, closed again to-day. Its suspension has been anticipated for some past, as since its reopening its statements have shown no increase of business. The officers hope the Comptroller will permit it to go into liquidation. At the time of the Baring failure its deposits amounted to $1,250,000. When it suspended in 1893 its liabilities had been reduced to $510,000. When it closed to-day its deposits amounted to only $116,000. Its total liabilities are only a little over $200,000. Its assets are figured at $510,000.
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Tacoma National Bank. TACOMA, WASH., Dec. 3.-The Tacoma National Bank closed its doors this morning. The cashier posted a notice stating that the institution was going into liquidation. The bank suspended payment during the panic last year, and resumed after doubling its capital to $200,000. W. B. Blackwell, president of the bank, is at present at Philadelphia.
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A TACOMA BANK SUSPENDS. The Institution Going Into Liquidation After Bad Business. Tacoma, Wash., Dec. 3.-The Tacoma National Bank closed its doors this morning, the cashier's notice stating that the institution was going into liqudation. The bank suspended payment during the panic last year, and resumed after doubling its capital to $200,000. W. B. Blackwell, the president of the bank, is at present at Philadelphia.
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UPHILL STRUGGLE. The Tacoma National Bank Again Closes Its Doors. TACOMA, Wash., Dec. 3.-The Tacoma National bank, which closed its doors during the panic on July 22, 1893, and reopened on December 6tb, closed again today. Its suspension had been anticipated for soine time past, as since its reopening its statements have shown no increase in business. The officers hope the comptroller will permit it to go into liquidation. At the time of the Baring failure its deposits amounted to $1,250,000. When it suspended in 1893 its liabilities had been reduced to $510,000. When it closed today ite depoeite amounted to only $216,000. Its total liabilities are only a little over $250,000. Its assets are figured at $510,000.
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NEWS NUGGETS. The Tacoma National bank has gone into liquidation. The North Platte National bank, of Nebraska, has suspended. Richard Quinn was killed in a railroad accident near Port Henry. New York. It is feared that the steamer Kenmore foundered in the fog off the coast of England. The house of Joe Mitchell at Manistique, Mich., burned and his two sons perished in the flames. It is said that republicans are determined upon no tariff legislation until the country has recovered from the last.
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Receiver of a Bank. Tacoma, Wash., Dec. 15.-Phillp P. Anderson, son of the late General A.u. nderson, chief engineer of the Northern Pacific railroad, has been appointed receiver of the Tacoma National bank. There were numerous applicants for the appointment, which Anderson is credited with obtaining through influential connections at Washington.
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SECURED BY INFLUENCE. Appointment of a Receiver for a Tacoma Bank. Tacoma, Wash., Dec. 14.-News was received to-night of the appointment of Phillip P. Anderson, son of the late General Adna Anderson, chief engineer of the Northern Pacific Railroad, as receiver of the Tacoma National Bank. To most people the appointment was unexpected. There were many cand dates. The influence of the directors, relatives by marriage and officials at Washington who were friends of General Anderson secured him the appointment.
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PERSONAL. Judge R. A. Ballinger, of Port Townsend, is at the Butler. W. H. Nudd a business man from Minneapolis, is at the Occidental. J. N. Williams a mining engineer from San Francisco, is at the Butler. W. St. M. Barnes, the Portland detective, is registered at the Butler. Mr. and Mrs. W. H. H. Green have gone to the San Juan islands for an outing. Prosecuting Attorney James Stewart, of Port Angeles, is a guest at the Northern. Robert Hulbert, clerk of Snohomish county, registered at the Diller last evening. Lewis Freeman, a prominent citizen of Nixietown, Pa., has arrived at the Occidental. L. Frank Gordon, a Great Northern attorney at Spokane, is stopping at the Butler. Richard W. Montague, receiver for Willdams & Groat, of Portland, is at the Northern. Gustave Thalberg, manager of the Torbett Concert Company, has arrived at the Northern. Mrs. John McReavy and Miss Harriet F. Kennicott, of Union City, have arrived at the Butler. State Senator and Mrs. W. W. Gilbert and daughters, of Walla Walla. are stopping at the Diller. John S. MoMillan, of the Tacoma & Roche Harbor Lime Company, of Roche Harbor, is stopping at the Butler. Mr. and Mrs. A. W. Sanborn and Mr. and Mrs. D. Lloyd Jones, of Wisconsin, are among the guests at the Butler. J. E. Youngblood, superintendent of the Irdian schools at Neah bay, was at the Diller yesterday on his way home from Tacoma. Mr. C. C. Barnett, Mr. and Mrs. E. S. Dodge, Miss May Gilbranson, Mrs. M. Lowny, of Anacortes, are at the Butler. to remain a few days. Jacob P. Palmer, of New York, is visiting his sons, R. M. and Dr. F. S. Palmer. Miss Bertha Palmer accompanied her father on his trip West. Mr. R. W. Baxter, general agent of the Union Pacific at Portland, Mrs. Baxter and the latter's daughter, Mrs. F. O. Downing, are in the city. R. M. Hopkins returned home on Wednesday from Hidden lake with a basket of forty pounds of trout, averaging a pound each, the result of six hours' fishing. P. V. Anderson, receiver for the Tacoma National Bank, is at the Butler. He is a relative of ex-Congressman Ben T. Cable, of Illinois, who was in the city yesterday. Joseph Hardy has just returned to the city from a visit to his old home in Vermont. He says he had a good time among the hills, caught a few fish and shot some woodchucks. Edwin Goodall, of Goodall, Perkins & Co., who operate the Pacific Coast Steamship Company's steamers, was in the city this week, but has returned to his home in San Francisco. Mr. A. E. Barnhardt, of the firm of Barnhardt Bros. & Spindler, type founders of Chicago, and Mrs. and Miss Barnhardt are at the Butler. They will go to Alaska on the Queen tomorrow. Mr. and Mrs. William K. Tallock, I. F. Tallock, W. D. V. Tallock and John Braden, M. P. P., of Victoria, are guests at the Northern. W. K. Tallock is late proprietor of the Hotel Wilson in this city. Health Officer Paimer has just received a full set of the works of his uncle, Julius A. Palmer, jr., on Hawaii, her institutions, etc. The writer was sent out first in 1893 for the Boston Transcript and in 1896 by the New York Post. Mr. George B. Hurd, brother of Delegate F. H. Hurd, is on a visit to Seattle. He resides at New Haven, Conn., and is one of the directors of the National Educational Association. He was here in 1887, and is naturally amazed at the changes. Mr. and Mrs. Patrick Dolan, who were recently married in Spokane, were welcomed home Tuesday by their friends and received many congratulations. Mr. Dolan is steward on the steamer Flyer and than many friends among the steamboat men.
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Tacoma Business Troubles. Tacoma, Aug. 14.-Special.-L. N. Hansen was today appointed receiver of the Pacific Supply Company on the suit of John Masury & Co. P. V. Anderson, receiver of the Tacoma National bank, secured a temporary injunction today, restraining the Meridian Brick Works and others from disposing of certain of their machinery, pending the foreclosure of a trust deed which the bank is prosecuting.
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Washington, D.C., Oct. 2.-The reports of business improvement and activity in masufacturing and commercial lines which have come to the front since the enactment of the Dingley law has suggested to somebody with a good memory a comparison of present conditions with those ot the corresponding dates in the first year of the Cleveland administration. It is a curious fact that the enactment of the Wilson law came at just about a corresponding period with the meeting of the free-trade Congress in the first year of Ceveland's second term, [and that it is therefore possible to contrast business conditions under the shadow of approaching free trade with the business condition in the sunshine of returning protection. This comparison is startling. This period covered in the comparison of the two months since the final action upon the Dingley bill compared with the corresponding two months in the Cleveland term. or from July 24 to Seteraber 24, 1893, contrasted with July 24 to Setember 24, 1897. Here is the contrast; it is well worth laying for reference: Week ending July 24, 1893-Failure of Bozeman. Montana, national bank. Four Denver banks closed their doors. Bank suspensions in other Western cities. Two bank failures in Milwaukee, and runs on numerous other banks. Commercial Bank of Denver fails; capital, $250,000. Bank failures At Vernon, Tex., and Knoxville, Tenn.; capital. $200,000. Failure of Tacoma (Wash.) National Bank; capital, $200,000; also failures of banks at Great Falls. Mont., and Orladno, Fla. ; capital, $200,000. Suspension of work in manufactories reported from all sections. Week ending August 1, 1893,-National banks at Manchester, N.H., and Indianapolis, Ind fail; capital $500,000. Failure of First National Bank at Spokane, Wash. ; capital, 2500,000. Ten banks sus pended in one dav (July 27) capital, $2,000,000. Bank failures in South Dakota. Montana, Illinois, Kansas, Texas, Washington, New Hampshire, and correspendingly large number of business suspensions. Week ending August 8, 1893-Collapse of Chicago provision deal and many failures of commision houses. Failure of National Bank of El Paso, Texas. Failure of National Bank of San Antono, Texas. Failure of National Bank of Mounce, Ind. LIIId Congress meets in special session to begin its destruction of the McKinley law. Week ending August 28, 1893-Encounter between the Anarchists and Soeialists averted by New York police. Failure of National Bank at Hindman, Pa. Failure of National Bank at Tacoma, Wash. Suspension of manufacturing establishments in numerous states. Announcement by controller of the currency that 155 national banks and 560 private banks had failed during the year ending August 28. Railroad receivers appointed during August for Northern Pacific, Pt itadelphia & Reading, New England and Pittsburg, Akron & Western. September-Railroad receivers appointed for Wisconsin Central. Chicogo, Peoria & St. Louis, Cleveland, Canton & Southern. Evansville & Terre Haute railroads. The mileage of roads placed in the hands of receivers during the year 1893 was 25,375, nearly one-seventh of all the lines in the United States, and their indebtedness $1,212,217,033. During the year there were 16,115 mercantile suspensions, involving liabilities amounting to $346 779,889. During the bank suspensions of July loans were made on call at the New York Stock Exchange as high as 72 per cent. The following statements of revival of manufacturing industries during the sixty days following the enactment of the Dingley law. the period corresponding with the similar dates in the first year of Cleveland's second term, show the contrast between present conditions and those of the corresponding months of the preceding adminisration. The statements which follow are from "Brad street's:' Week ending July 24, 1897-Twenty thousand workmen resumed work in iron and steel industries. Bigelow Carpet Company, at Clinton, Mass. resumes
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SOME COMPARISONS OFFICIAL REPORTS SHOW THE DIFFERENCE IN THE TIMES. Under the First 60 Days of the Cleve. land-Wilson Low Tariff the Country Was in a Panic-Under the McKinleyDingley Tariff the Country Confident. E. F. PARSONS, Special Correspondent. Washington, D. C.-The close of the first sixty days of the operations of the new tariff law and the business improvements which are visible in every direction during that time have suggested a comparison of the conditions during the two months in question with those of the corresponding date in the first year of the Cleveland administration, during which time the free trade congress, elected with President Cleveland, was just beginning its attack upon the protective system which the Dingley law sixty days ago re-established. The two periods from July 24 to September 24 in the years 1893 and 1897, respectively, present a marked contrast -Bod St 1! pus conditions business 01 SE sible to obtain from government records some data bearing upon this subject and now especially interesting. The following data gathered from official reports presents a picture of the sixty-day period of the year 1893 with which the two months just ended correspond both as to the portion of the year and the period of the presidential administration and also proximity to tariff legislation: Week ending July 24, 1893-Failure of Bozeman, Mont., National Bank; four Denver banks closed their doors; bank suspensions in other western cities; two bank failures in Milwankee and runs on numerous other banks; Commercial Bank of Denver fails, capital $250,000; bank failures at Vernon, Texas, and Knoxville, Tenn., capital $200,000; failure of Tacoma, Wash., National Bank, capital $200,000; also failures of banks at Great Falls, Mont., and Orlando, Fla., capital $200,000; suspension of work in manufactories reported from all sections. Week ending August 1,1893-Nation-uI pus "H N Manohester 18 queq 18 dianapolis, Ind., fail, epaital $500,000; failure of First National Bank at Spokane, Wash., capital $250,000; ten banks suspend in one day (July 27), capital $2,000,000; bank failures in South Dakota, Montana, Illinois, Kansas, Texas, Washington, New Hampshire, and correspondingly large number of business suspensions. Week ending August 8, 1893-Collapse of Chicago Provision Deal and many failures of commission houses; failure of National bank of El Paso, Texas; failure of National bank of San Antonio, Texas; failure of National bank of Muncie, Ind; fifty-third congress meets in special session to begin its destruction of the McKinley law. Week ending August 28, 1893-Encounter between the anarchists and socialists averted by New York police; meeting of anarchists broken up by New York police; failure of National bank at Hindman, Pa.; failure of National bank at Tacoma, Wash., suspension of manufacturing establishments in numerous states; announcement by comptroller of the currency that 155 National banks and 560 private banks had failed during the year tnding August 28; railroad receivers apppointed during August for Northern Pacific, Philadelphia & Reading, New England and Pittsburg, Akron & West"ure September-Railroad receivers