22558. Commercial Bank (Eau Claire, WI)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
July 29, 1893
Location
Eau Claire, Wisconsin (44.811, -91.498)

Metadata

Model
gpt-5-mini
Short Digest
ce57ca1d

Response Measures

Full suspension

Other: Receiver appointed; later bank reorganized and reopened with receiver discharged.

Description

Commercial Bank of Eau Claire was forced to close July 29, 1893 (receiver appointed) after heavy withdrawals and inability to realize on securities during the July 1893 financial stringency; it was reorganized and reopened in mid-January 1894. Cause attributed to the wider financial panic/withdrawal pressure (macroeconomic news and runs).

Events (3)
1. July 29, 1893 Run
Cause
Macro News
Cause Details
Heavy withdrawals during the July 1893 financial stringency/panic; runs on local banks and general loss of liquidity led depositors to withdraw.
Measures
Depositors protected? Receiver appointed; notices posted; bank placed in hands of receiver Byron A. Buffington.
Newspaper Excerpt
There were light runs on other banks...continuance of heavy withdrawals
Source
newspapers
2. July 29, 1893 Suspension
Cause
Macro News
Cause Details
Bank failed to open and was placed in receivership because of continued heavy withdrawals and inability to realize on securities during the widespread July 1893 financial distress.
Newspaper Excerpt
The Commercial Bank...did not open this morning, having been placed in the hands of Byron A. Buffington as receiver.
Source
newspapers
3. January 16, 1894 Reopening
Newspaper Excerpt
The Commercial bank...was reopened at 3 p. m., the court having signed an order discharging Receiver Buffington. The bank officers under the reorganization are: F. C. Allen, president; Otto Boberg, vice-president; Thomas B. Culver, cashier.
Source
newspapers

Newspaper Articles (24)
1. July 30, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 30, 1893

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BUSSINESS TROUBLES. Commercial Bank of Eau Claire Closes-fhree Portland Banks Have Enough-Other Failures. EAU CLAIRE, Wis., July 29.-The Commercial Bank, capital $50,000. did not open this morning, having been placed in the hands of Byron A. Buffington as receiver. F. C. Allen, the president, said: "We calculate depositors will not loose a dollar." There are light rans on other banks, but they are perfectly solid. The closing of the Commercial bank seems to end any danger of financial trouble in this city, The customers of this bank are chiefly small depositors, but are those who feel their losses keenly. President Allen thinks the depositors will not lose a dollar. The

2. July 30, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 30, 1893

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Bodifield, the treasurer and general manager, was made receiver. The assets are $ 1000 and liabilities $37,000.1 EAU CLAIRE. Wis.. July 29.-The Com mercial Bank, capital $50,000. did not open this morning. having been placed in the hands of Bryon A. Buffington, as receiver: F.C. Allen. the president. said: "Depositors will not lose is dollar." There were light runson other banks. HAMILTON, O., July 29.-The Macneale & Urban Safe and Lock Company. one of the oldest safe firms in the country. has assigned to Howard Douglass, of Cincinnati. Assets, $160,000; liabilities unknown. PATERSON, N. J.. July 29.-The Beatty Carpet Manufacturing Company. at Little Falls, employing three hundred men. closed down to-day for an indefinite period. BETHLEHEM, Pa., July 29.-The Bethlehem Iron Company's steel mill will resume operations in full blast ou Monday next, after an idleness of a month. NORTHBORO, Mass., July 29.-All of the shell and horn goods manufactories are closed on account of the state of trade. BUFFALO. N. Y., July 28.-The Barber Asphalt Company have discharged one hundred men because of dull times. MILES CITY, Mont., July 29.-The Stockgrowers' National Bank closed to-day.

3. July 30, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, July 30, 1893

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BUSINESS TROUBLES. Failures in Different Sections of the Country-Assets Are Ample. PORTLAND. Ore., July 29.-The Commercial National bank. the Portland Savings bank and the Ainsworth National bank failed this morning. With the exception of a slight run on the First National. the largest bank in the city, there is no excite. ment. The Commercial National and the Portland Savings banks are under the same management. The notice posted says the suspension is temporary and depositors will be paid in full. The Commercial National has n capital of $250,000, the Ainsworth National $100,000. YOUNGSTOWN. O., July 29.-As a reanis of malicious rumors n run started on the Dol. lar Savings and Trust company this morning. The bank required legal notice And not n dollar was paid out. It has wealthy stockholders. A number of merchants drew large some from other banks and daposited with it, allaying the excitement. NEW YORK, July 29.-As a result of the action of the savings bank presidents at a meeting Inst night declaring they would require the legal notice for the withdrawal of funds, caused elight runs on the savings banks of this city and Brooklyn to-day. They are all able to protect themsel ves under the time clause of the law, and no failures occurred or ale anticipated. HAMILTON, Ohio, July 29. - The McNeal & Urban : afe and Lock company, one of the oldest safe films in the country, have assigned. AsHets $160,000, liabilities unknown. The firm claims to be solvent. NEW WHATOOM, Wash., July 29.-This morning the Paget Sound Loan, Trust and Bauking company suspended temporarily. The bank is capitalized At $125.000. Liabilities $50,000, assets $200,000. EAU CLAIRE, Wie., July 29.-The Commercial bank, capitalized at $500,000, was placed in the hands of a receiver to-day. President Allen said: 'We calculate depositors will not lose a dollar." KANKAKEE, Ill., July ).-The - First National bank failed this morning. Assets sufficient to pay depositors in full. AKRON, Ohio. July 29.-The Citizens Savings and Loan association failed this morning. It will pay in full.

4. July 30, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 30, 1893

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whv credit should not be sound. "No nation." said Harter, "bas ever successfully carried on business under two standards. PORTLAND'S TROUBLE. Three More Banks Fail to Open Their Doors. PORTLAND, Or., July 29.-Three banks failed to open their doors this morning. They were the Commercial National, Portland Savings and Ainsworth National. With the exception of a slight run on the First National there is no excitement. A notice posted on each of the suspended banks says the banks were forced to temporarily suspend, owing to the heavy withdrawal of deposits during the last sixty days and inability to realize on seourities. Dopositors will be paid in full. The Commercial National Bank has a paid-up capital stock of $250,000. Frank Dekum is president. The Portland Savings Bank is under the same management. L. L. Hawkins is president of the Alosworth National, which has a capital stock of $100,000. The statement of the Commercial National and Ainsworth National published July 12, shows the resources as follows: Commercial, $1,950,000; Ainsworth, $687.000. Deposits Commercial, $1,450,000; Ainsworth, $447,000. The Ainsworth National is a United States depository. No statement is yet made of the condition of the Portland Savings Bank. It has a capital stock of $260.000. with a surplus of $202,000. At the closing hour the situation was quiet, all other banks having stood the run. At each of the suspended banks a police officer is stationed to prevent any disorder. Small groups of men are standing on the streets discussing the situation, but there is no sign of any violence. All the three banks which were closed to-day are considered among the strongest in the city and depositors appear to have no fear of losing a cent. It is probable that all three banks will resume in a few days. On account of it being the end of the week most of the banks paid out more than was received. The Merchants' National, where the run occurred yesterday, received deposits in excess of the money paid out. J. Lowenberg, president of the Merchants', yesterday hypothecated all his real property in the city, and is said to have secured $200,000 in cash. This restored confidence and many persons drew their money from other banks and deposited it there. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. The statement of this bank shows resources estimated at $2,950,000. which 18 considered a conservative estimate. Its liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A small bank at Forest Grove has closed owing to the Commercial National's suspension. The statement of the Union Banking Company, which closed yesterday. shows assets of $98,000 with liabilities of $53,000. The city has a claim for $13,000 and is the principal creditor. YOUNGSTOWN, Ohio, July 29.-As a.result of malicious rumors 8 run was started on the Dollar Savings and Trust Company this morning. The bank required legal notice, and not a dollar was paid out. It has wealthy stockholders. A number of merchants withdrew large sums from other banks and deposited with it, allaying the excitement. KANKAKEE, III., July 29.-The First National Bank failed this morning. The assets are sufficient to pay depositors in full. AKRON. Ohio, July 29-The Citizens' Savings and Loan Association failed this morning. It will pay in full. Capital, $100,000; surplus, $80,000. NEW WHATCOM, Wash., July 29.-This morning the following notice was posted on the doors of the Puget Sound Loan, Trust and Bank Company: "Owing to the constant withdrawals of deposits and inability to realize on securities this bank has suspended temporarily." The bank was incorporated under the State laws In 1890. with a capital stock of $125,000. The liabilities are $50,000 and the assets $200,000. WASHINGTON, July 29.-Comptroller Eckels appointed Louis C. Phelps receiver of the Merchants' National Bank of Great Falls, Mont. EAU CLAIRE, Wis., July 29.-The Commercial Bank, capital $50,000, was placed in the hands of a receiver to-day. President Allen said: "We calculate that the depositors will not lose a dollar." There were light runs on other banks. BOSTON. July 29.-A special from Manchester, N. H., says: Disclosures to-day tend to show that Cashier Morrell knew the worst and ran away rather than face the music. A director stated that in addition to the $60,000 of doubtful paper thrown out of the Derryfield Savings Bank, there is from $10,000 to $18,000 due depositors. It is now thought the deficiency in the bank mav go to $100,000. Rich Red Blood

5. July 30, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 30, 1893

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Bank Runs Counteracted. [By telegraph to the Dispatch.] MILWAUKEE, WIS., July 29.-The Commercial Bank of Eau Claire, Wis., did not open its doors this morning. Notices were posted that the bank was in the hands of Bryon A. Buffinton as receiver. The close is due to the continuance of heavy withdrawals and the inability to realize on securities at this time. The Commercial is a popular savings bank throughout the Chippewa Valley. It has a capital of $50,000. Runs were started on the National Bank of Eau Claire, the Bank of Eau Claire, and the Chippewa Valley Bank, but were counteracted by heavy deposits by many leading business-men. These banks are remaining open after hours.

6. July 30, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 30, 1893

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A WISCONSIN BANK. I EAU CLAIRE, Wis., July 29.-The Commercial bank, capital $50,000, has been placed in the hands of Byron A. Buffil, as receiver.

7. July 30, 1893 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 30, 1893

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Did Not Open for Business. EAU CLAIRE, Wis., July 29.-The Commercial bank, capital $50,000, did not open this morning, having been placed in the hands of a receiver. F.C. Alten, said: "There are slight runs on other banks, but they are perfectly solid."

8. August 4, 1893 The State Herald Holyoke, CO
Article from The State Herald, August 4, 1893

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THE FINANCIAL SITUATION. On the 25th the Mitchell bank at Milwaukee closed its doors. Its deposits amount to nearly $8,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their doors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also failed 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 stockholders will not be more than 60 per cent. in either case. The situation on the New York stock exchange on the 28th 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 fell from 1 to 4 points. H. I. Nicholas & Co., brokers, assigned. The First National and Montana National banks of Helena, failed to open Thursday morning. A run followed on theother banks of the city. The run was confined principally to the Merchants' National bank, which paid everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but cannot realize on them. The Oregon National bank and the Northwest Loan and Trust company of Portland failed to open their doors on the 27th. A notice on the door says: "Owing to withdrawal of deposits and the Inability to realize on securities this bank is forced to suspend." The First National of Middleboro, Kentucky, closed on the 27th. Two banks at Sparta, Wisconsin, closed, also a bank at Portage. The Ellensburg, Washington, National bank suspended payment. In consequence of a run upon It the Traders' Deposit bank of Mount Sterling, Indiana, suspended. The following banks failed on the 28th: First National at Great Falls, Montana; German National at Washington, Wisconsin; Seymour's Bank at Chippewa Falls, Wisconsin; Chamberlain National at Chamberlain, South Dakota. The publication of the intended action of the New York and Brooklyn savings banks and institutions to put into practice the law entitling them to sixty days' notice from depositors of intended withdrawals of money precipitated a run Saturday. Some of the banks paid the amount In full, and thus sought to restore confidence. Others required notice, the time ranging from ten to ninety days, according to the period specified in the by-laws. The Commercial National, Ainsworth National and Portland Savings bank of Portland, Oregon, closed their doors on the 29th. The following banks also closed on that date: Citizens Savings, Akron, Ohio; First National, Kankakee, Illinois; Commercial, Eau Claire, Wisconsin; Barron Brothers, Lusk, Wyoming. The McNeal & Urban Safe and Lock Company, one of the oldest safe firms in the country, have assigned to Howard Douglass of Cincinnati. Assets, $160,000; liabilities unknown. The firm has been unfortunate in several large contracts, but it Is claimed that it is solvent. The New York clearing-house committee on the 31st authorized the Issue of $2,500,000 more in loan certificates, which brings the total issue outstanding up to $27,975,000. It may be noted that $26,565,000 was the maximum Issue of 1873, but this comparison is really less impressive than it seems, for a very considerable part of this year's New York issues has In practical effect, been provision for Chicago. No banks applied, so the dispatches stated, for loan certificates in the city. A secondary result of the local money scarcity was an absolute want of bids for sterling bills, exchange rates going on some transactions below the year's previous lowest record. The following banks suspended on the 31st: Springfield Savings, at Springfield, Misssouri; First National, Ashland, Wisconsin: First National, Dalles, Oregon: Bellingham Bay National Whatcom lequiring Notice of When drawal of deposits.

9. August 5, 1893 The Meeker Herald Meeker, CO
Article from The Meeker Herald, August 5, 1893

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THE FINANCIAL SITUATION, On the 25th the Mitchell bank at Milwaukee closed Its doors. Its deposits amount to nearly $8,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their doors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also failed 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 stockholders 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 Erie railroad had gone into the hands of & receiver was largely responsible for the break In stocks which fell from 1 to 4 points. H. I. Nicholas & Co., brokers, assigned. The First National and Montana National banks of Helena, failed to open Thursday morning. A run followed on theother banks of the city. The run was confined principally to the Merchants' National bank, which paid everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but cannot realize on them. The Oregon National bank and the Northwest Loan and Trust company of Portland failed to open their doors on the 27th. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." The First National of Middleboro, Kentucky, closed on the 27th. Two banks at Sparta, Wisconsin, closed, also a bank at Portage. The Ellensburg, Washington, National bank suspended payment. In consequence of A run upon It the Traders' Deposit bank of Mount Sterling, Indiana, suspended. The following banks failed on the 28th: First National at Great Falls, Montana; German National at Washington, Wisconsin Seymour's Bank at Chippewa Falls, Wisconsin; Chamberlain National at Chamberlain, South Dakota. The publication of the intended action of the New York and Brooklyn savings banks and institutions to put Into practice the law entitling them to sixty days' notice from deithdrawals of money positors of Intended precipitated a run Saturday. Some of the banks paid the amount in full, and thus sought to restore confidence. Others required notice, the time ranging from ten to ninety days, according to the period specified in the by-laws. The Commercial National, Ainsworth National and Portland Savings bank of Portland, Oregon, closed their doors on the 29th. The following banks also closed on that date: Citizens Savings, Akron, Ohio; First National. Kankakee, Illinois; Commercial, Eau Claire, Wisconsin: Barron Brothers, Lusk, Wyoming. The McNeal & Urban Safe and Lock Company, one of the oldest safe firms in the country, have assigned to Howard Douglass of Cincinnati. Assets. $160,000; liabilities unknown. The firm has been unfortunate in several large contracts, but It is claimed that It is solvent. The New York clearing-house committee on the 31st authorized the issue of $2,500,000 more In loan certificates, which brings the total issue outstanding up to $27,975,000. It may be noted that $26,565,000 was the maximum issue of 1878, but this comparison is really less impressive than It seems, for a very considerable part of this year's New York Issues has in practical effect, been provision for Chicago. No banks applied, 50 the dispatches stated, for loan certificates in the city. A secondary result of the local money scareity was an absolute want of bids for sterling bills, exchange rates going on some transactions below the year's previous lowest record. The following banks suspended on the 31st: Springfield Savings, at Springfield, Misssouri; First National, Ashland, Wisconsin: First National, Dalles, Oregon: Bellingham Bay National, Whatcom, Washington. Savings

10. August 5, 1893 The Bessemer Indicator Pueblo, Bessemer, CO
Article from The Bessemer Indicator, August 5, 1893

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THE FINANCIAL SITUATION. The First National and Montana National banks of Helena, falled to open Thursday informing. A run followed on theother banks of the city. The run was contined principally to the Merchants' National bank, which paid everybody. They are confident that they will be able to stand the run. The two closed 1 banks have ample assets, but cannot realize on them. The Oregon National bank and the Northwest Loan and Trust company of Portland failed to open their doors on the 27th. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on se curities this bank is forced to suspend." The First National of Middleboro, Kentucky, closed on the 111th Two banks at Sparta, Wisconsin, closed. also a bank at Portage. The Ellensburg, Washington, National bank suspended payment. In consequence of a run upon it the Traders' Deposit bank of Mount Sterling, Indiana, suspended. The following banks falled on the 28th: First National at Great Falls, Montana: Ger man National at Washington Wisconsin: Sermour's Bank At Chippewa Falls, Wisconsin: Chamberlain National at Chamberlain, South Dakola. The publication of the Intended action of the New York and Brooklyn savings banks and institutions to put into practice the law entitling them to sixty days notice from depositors of intended withdrawals of money precipitated a run Saturday Some of the banks paid the amount in full, and thus sought to restore confidence. Others required notice, the time ranging from ten to ninety days, according to the period specified in the by-laws. The Commercial National, Ainsworth National and Portland Savings bank of Portland, Oregon, closed their doors on the 29th. The following banks also closed on that date: Citizens Savings, Akron, Ohio: First National, Kankakee, Ultinois; Commercial, Eau Claire, Wisconsin: Barron Brothers, Lusk, Wyoming The McNeal & Urban Safe and Look Company, one of the oldest safe firms In try. have assigned to Howard Douglass of Cincinnati. Assets $109,000; liabilities unknown. The firm has been unfortunate in several large contracts, but it is claimed that it is solvent. The New York clearing-house committee on the 31st authorized the issue of $9,000,000 more in loan certificates, which brings the total issue outstanding up to $27,975,000. It may be noted that $26,565,000 was the maximum issue of 1873, but this comparison is really less impressive than It seems, for a very considerable part of this year's New York is sues has In practical effect, been provision for Chicago. No banks applied 80 the dispatches stated, for loan certificates in the city. A secondary result of the local money scarcity was an absolute want of bids for sterling bills, exchange rates going on some transactions below the year's previous lowest record. The following banks suspended on the 31st: Springfield Savings, at Springfield, Misssouri; First National Ashland. Wisconsin: First National, Dalles, Oregon: Bellingham Bay National, Whatcom, Washington Savings banks throughout the Eastern states are enforcing the rule requiring notice of with drawal of deposits. The feeling among New York bankers on Tuesday was better, as It was reported that 84,000,000 In gold had been shipped to AmerIca from London There was wild excitement on the Chicago board of trade Tuesday due to a great fall in the price of pork. It dropped from $19 to $10 in a short time Jack Cudaby and several other firms failed. In view of the low prices of bonds, New York bankers have decided to issue $3,000,000 more currency.

11. August 8, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 8, 1893

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CONTINUED PROSPERITY(P) The Banks and Mercantile Concerns Still Close Their Doors, Though "Confidence Has Been Restored"--Gold is Coming Back Before the Sherman Lawi Repealed and that Gives the Lie to Chicago Platform. ELLENSBURG, Wash July 28-The Ellensburg National Bank suspended payment yesterday. No statement is made. George B. Markle, president of the two banks which failed in Portland yesterday, is also president of the Ellensburg bank. CHICAGO, July 28-A special to the Record from Martinsville, Ind., says: The S. M. Mitchell bank, established thirty years ago, backed by $500,000, went into voluntary liquidation yesterday. There is $100,000 in its vaults and deposited by it in Indianapolis banks The cause of this action, it is said, is for a division of the estate. SPARTA, Wis., July 28.-Two banks closed their doors here yesterday, the M. A. Thayer bank and the Bank of Sparta. The cashiers of both institutions claim the action was taken to protect the depositors, and that the banks will resume. The liabilities of the M. A. Thayer bank are placed at about $175,000 and assets at $225,000; while the liabilities of the Bank of Sparta are said to be $210,000, with as sets of $500,000. MOUNT STERLING, Ky., July 28 -Last evening the officers of the Traders' Deposit bank decided to suspend payment, owing to the heavy run on the bank yesterday, caused by the suspen sion of the Farmers' Bank. The bank owes $150 and has $390,000 of good assets. The officers hope to resume business at an early day. NEW YORK, July 28. The failure of Horatio D. Averill was announced at the Consolidated Exchange this morning. His liabilities are small. NEW YORK, July 28.-Adolph Goldsmith and Sigmund A. Goldsmith, composing the firm of Adolph Goldsmith & Son, jewelers and diamond dealers, No. 38 Maiden Lane, to day assigned to Jones H. Monsheimer, with preferences for $38,043 to numerous creditors SAN ANTONIO, Texas, July 28 -The extensive coal mines of the Minerva Colliery company in Webb county, have closed down, throwing a large number of men outof work. As there is no prospect of resumption at the mines at present, many of the miners are leaving the county PROVIDENCE, R I., July 28 -The following cotton mills in Burrillville have closed: A. L Sales & Sons, Arnold & Perkins. Job E Fiske, Jr, W. A. In man, William Finkham & Co., J. J Nicholas & Sons CHIPPEWA FALLS, Wis., July 28 -G. W. Seymour's private bank closed its doors here this morning. There are runs on all the other banks in town. PORTLAND Oregon, July 28 -The Union Banking Company has suspended. GREAT FALL, Mont, July 28 -The First National Bank of this city sus pended payment this morning. KANKAKEE, Ills., 29.-The First Na tional Bank of this city failed to open its doors this morning. The notice posted on the doors states that the assets are ample to meet all claims. LOUISVILLE, Ky., July 29 The Pineville Banking Company, at Pineville, closed its doors yesterday. It was con sidered the best bank in Southeastern Kentucky. The President will surrender all his individual property to help the bank out. COVINGTON, Ind., July 29 -The Farmers' and Merchants' bank, of this city, closed yesterday. The cashier said the reason was the present finan cial stringency and inability to realize on its securities. Ex United States Treasurer Nebeker is its president. KNOXVILLE, Tenn July 29.-The Tannic acid factory of this city will be shut down next week indefinitely. This plant was erected several months since by the Standard Tannery Company, of Chicago, and represents an outlay of over $100,000. AKRON, 0, July 29.-The Citizens' Savings and Loan Association, of Akron, closed doors this morning. The cause given is the constant-drain upon the resources by drawing out deposits. The bank is regarded as in a perfectly sound condition and will pay dollar for dollar. The capital stock is $100,000, with $80,000 surplus. The company was organized and incorporated in 1872. The suspension created no sur prise in Akron. TRENTON, N. J., July 29.-A run was commenced this morning on the Tren ton Savings Bank. By noon about $30,000 had been paid out. The bank is one of the strongest in the State, having a clean surplus of $260,000. The money paid out this morning was in new silver dollars just received from the Philadelphia mint. All the Tren ton banks are in excellent shape and no suspensions will occur. MILWAUKEE, Wis., July 29 .-The Commercial Bank, of Eau Claire, Wis., did not open its doors this morning.

12. August 9, 1893 The Sun New York, NY
Article from The Sun, August 9, 1893

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VARIOUS BANK TROUBLES. One Suspension in West Virginta-Clearing House Certificates in Pittsburgh. WELLSBURG, W. Va. Aug. 8.-The Bank of Wellsburg. owned by Samuel George. closed its doors this morning. The bank has assets of $300,000 and liabilities of $150,000. Runs were made on other banks here. V-8 .SnV "puI tive of the Indianapolis National Bank yesterday filed in the Recorder's office four mortgages to the bank. given to secure loans made by the bank. The instruments were a chattel mortgage to the Indiana Glue Works on its plant for $37,799.19. a chattel mortgage to the Indianapolis Curled Hair Works P sewer 4q B *000'07$ JOJ H. F. Stephens. doing business as the New Independent Ice Company. for $7,600 to secure nine notes executed between June 1 and July 31, and a mortgage by T. B. Haughey. President of the bank. and wife for $19,750. covering all the real estate owned by him, including the Mapleton homestead. The glue works and curled hair works are controlledby Schuyler C. Haughey. son of the President. In loaning $40,000 to the curled hair works the National Banking law was violated directly. as the bank's capital was but $300,000. and this sum was. therefore. above the 10 per cent. limit. PITTSBURGH, Aug. 8.-The Executive Committee of the Pittsburgh Clearing House Assoclation decided this afternoon to Issue Clearing House loan certificates, the majority of the nineteen banks composing the association having at noon yesterday voted favorably on the proposition. This. it is expected. will not only relieve the financial depression. which has occasioned less annoyance in Pittsburgh than in any large city in the country. but will put the Pittsburgh banks in such condition that they may successfully thwart an attack. There has been an improvement in the situation here during the last three days. deposits having increased about 25 per cent. The loan certificates will be issued upon collateral bearing 75 per cent. of their face value. CINCINNATI, Aug. 8.-Yesterday was A heavy day for the Cincinnati banks. Owing to the liberal calls made by the whiskey men for the payment of taxes. it is said that nearly $100.000 in currency was taken out of the local banks. No inducements whatever could be used to take the New York banks' exchange for currency. and as a consequence New York exchange WAS a dead letter. MADISON. Wis.. Aug. 8.-The State authorities yesterday decided to begin suit to recover 400,000 tied up by the Marine Bank suspension. $5,000 in the Milwaukee National Bank, and $500,000 in the Commercial Bank at Eauclaire. WORCESTER, Mass. Aug. 8.-At a meeting of the Worcester Clearing House this morning it was voted to request the larger employers of labor doing business with orcester banks to pay off their help in checks payable only through the Worcester Clearing House. the system to continueduring the present scarcity of currency. Several large concerns have agreed to follow this method. WASHINGTON. Aug. 8.-A committee representing the failed national banks of Kansas City had a conference with Comptroller Eckels this morning as to resuming business. Mr. Eckels is disposed to be as lenient AS the law will permit. and it is probable some arrangement will be reached by which the banks may resume. RICHMOND. Va., Aug. 8-A special despatch to the Dispatch from Big Stone Gap says the Big Stone Gap bank of that town was forced to close its doors this morning. Its capital stock was $44,000. It is believed depositors will be paid in full. RICE LAKE. Wis., Aug. 8.-This morning the Barron County Bank. of which N. W. Bailey is proprietor. assigned to R. M. Whitaker. The liabilities are $20,000. but the assets 'are five times that amount. The bank will pay dollar for dollar of its obligations and resume at the earliest possible moment. YORKVILLE. Ill., Aug. 8.-E. L Henning. a banker of Plano. assigned yesterday. It is thought Mr. Henning will soon be able to resume business. ALTAMONT. Ill., Aug. 8.-The banking house pepuedens of & W D jo The cashier. Levi Butler, is missing. He left a letter saving he took $41,000. It is said the depositors will be paid in full. NORTH BRANCH. Minn.. Aug. 8-The bank of North Branch. owned by J. F. Eingsland. failed to open its doors yesterday morning. The

13. August 12, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, August 12, 1893

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THE board of state deposits, consisting of the governor, secretary of state, treasurer and attorney general, at a meeting held for the purpose of taking steps to protect state funds which were, on deposit in banks which have failed, decided to begin legal actions to secure the state's funds from said banks as soon as each receiver's notice of the state's claim against the bank in his charge is received. The state had funds to the amount of $140,000 in the Fire and Marine, or Mitchell, bank in Milwaukee; $5,000 in the Milwaukee National bank and $5,000 in the Commercial bank of Eau Claire, or a total of $150,000 of state funds which have been tied up by the suspensions of banks in Wisconsin up to date.

14. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 22, 1893

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suit to recover $1,400,000 tied up by the Marine Bank suspension, $5,000 in the Milwaukee National Bank and $500,000 in the Commercial Bank at Eau Chire. YORKVIILE Ill. Aug. 8 -E L Henning, a banker of Plano, assigned yes terday. It is thought Mr. Henning will soon be able to resume business RICE LAKE. Wis., Aug -This morning the Barron County Bank, of which N. W. Bailey is proprietor, assigned to R. M. Whitaker. The liabilities are $20,000, but the assets are five times that amount. The bank will pay dollar for dollar of its obligations and resume at the earliest possible moment CHICAGO, Aug. 8 -The New York creditors charge fraud in the assign ment of the James H Walker Co. Be fore Judge McConnell this afternoon Charles Spielman & Co., who are creditors to the extent of $13,000, through Moran, Kraus and Mayer filed a petition asking that they be allowed to replevin certain goods sold the Jas. H. Walker Co. on July 12 last, they alleging that they were induced to sell the goods and extend credit to the company by reason of certain fraudulent statements as to the resources made by W. A. Mason, treasurer, and by James H. Walker. Eighteen big business failures was the record for one day in New York City alone, August 8. NORTH BRANCH, Minn., Aug 8 -The Bank of North Branch, owned by J.F. Kingsland, has suspended The institution is solvent and will re open in a few weeks. ALTAMONT, III., Aug. 8 -The bank. ing house of C. M. Wright & Co has suspended. The cashier, Levi Butler, is missing. He left a letter say ing that he had embezzled $41,000 of the bank's money. It is said that depositors will be paid in full PITT&BURG, Pa., Aug. 9.-The Linden Steel Co., one of the largest manufac turing concerns in Pittsburg, has suspended operations on account of the stringency of the times and difficulty in procuring discounts and inability to make collections. All the employees, about eight hundred, have been dis charged. The company had a number of contracts from the government for plate. MINNEAPOLIS, Aug 9 -The Missis sippi Valley Lumber Association met here yesterday in semi annual session and agreed to reduce the cut for the balance of the season one-half. The date agreed on for closing the saw mills was September 20. LAWRENCE, Mass, Aug 9.-The fol lowing notice was sent out by theagent of the Pemberton Cotton Mills this morning: "Owing to the extreme diffi culty in obtaining currency with which to pay our employees weekly, accord ing to law, this mill will close Satur day noon, August 12, for three weeks LANSING, Mich, Aug. 9 - E Bement & Sons, manufacturers of implements and stoves, have made a ten per cent cut in the wages of their six hundred employees. The men accepted the cut rather than be thrown out of employment. CHICAGO, Aug. 9 -Swift & Co., packers at the stock yards, yesterday laid off five hundred employees. They also retrenched by reducing the wages of the remaining employees ten per cent. The action was expected, and was caused by the condition of things at present existing at the yards. GUTHRIE, O. T., Aug. 9.-A govern ment official who has just returned from a trip along the Kansas line of the Cherokee strip reports great destitution and suffering among the people. Many are suffering for food and live stock is dying from Texas fever and starvation, the hot weather having burned up the Kansas grass. Hay is held at an enormous price, and a patrol of soldiers prevents the people from pasturing their stock on the abundant grass on the strip.

15. August 24, 1893 Eagle River Review Eagle River, WI
Article from Eagle River Review, August 24, 1893

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WISCONSIN NEWS. ERKINSTOWN, a small village a few miles west of Medford, was the scene of a horrible murder. The victim was a woman who lived alone in a shanty about half a mile from the village and about a mile from a logging camp operated by O. Darwin. When found her body was covered with knife wounds, sixty-nine in number, probably inflicted while she was struggling for life, the greater part of the wounds were in the hands and arms. The left side of her throat was cut, the large arteries being severed, and her face hacked and slashed in a frightful manner. The woman's name is Kone-man and her home is at Schofield, Marathon County. A man, whose name is unknown, has been arrested charged with the crime and is in jail at Medford. When arrested his clothes were saturated with blood. DARING highway robbery was committed at Racine in broad daylight. As Charles Fohn was walking along the street he was accosted by two strangers who made inquiries regarding the time a boat left for Chicago. He accepted an invitation to take a drink with the men. After drinking a glass of beer he became stupefied and the strangers led him to a vacant lot where they relieved him of $45 in cash. Fohn was found unconscious shortly afterwards and a physician was summoned. He was quickly brought to consciousness and said that he had evidently been drugged by the men. The police have been working on the case, but have not been able to find any trace of the strangers. A DESPERATE attempt to break jail was made at Florence a few days ago by Nelson Curtis and Chris Maloney, both of whom were awaiting trial on a charge of forgery. When Sheriff Keyes entered the cell of Curtis with his dinner the latter struck the sheriff and stunned him. Maloney then put in an appearance and the two prisoners beat Mr. Keyes in a frightful manner. They made their escape, but were recaptured the same day. Sheriff Keyes is in a serious condition. THE remains of William Barker, who died a few days ago at Rushville, Neb., were taken to Lake Geneva for burial. He was formerly a well-known resident of Geneva. DAVID GILLEN, aged 56 years, died at his home in Racine. He was alderman of the Fourth Ward and a well-known contractor. RICHARD HANTZCH, a lineman in the employ of the Telephone and Lighting Company at Eau Claire, while at the top of a pole received the full incandescent current. With a cry of pain he fell and hung by one foot to the wires, apparently a corpse. Two fellow workmen ran up the poles and tried to lower him with a rope, but he fell, striking on the curbstone. Life was extinct. There is considerable agitation over the affair and the City Council has appointed a committee to investigate the street railroad and electric light system in relation to public safety. Hantzch is the second victim of the deadly current at Eau Claire within a week. S. BROWN, charged with illegally marrying William Wallace to Mrs. Ida Clark, had a preliminary examination at Racine. From the testimony it appeared that the ceremony used was similar to that of all ministers. Mrs. Clark thought it was all in fun and Brown was of the same opinion. Brown was held to the circuit court for trial. LIVE white sturgeon has been added to the attractions at Washington Park, Green Bay. The rare one is forty inches in length, pure white in color, and with eyes of deep indigo blue. Fishermen who have been in the business forty years say it is the first time a fish of that kind has been taken from the waters of Lake Superior. THE directors of the Union National Bank at Racine, which suspended a few days ago, have decided to go into liquidation and appoint a receiver to wind up the affairs of the bank. The bank has a sufficient amount of securities to pay depositors dollar for dollar. CHARLES SPLITBERGER, of Cottage Grove, Dane County, pleaded guilty to the charge of assault with intent to do great bodily harm to John Allerton, of Deerfield, at a country dance, and was sentenced to eight months' imprisonment. FRED. J. SOMERFIELD, of Iron River, has commenced suit against the Western Union Telegraph Company for $5,000 damages for the non-delivery of a message. THE ex-convict impersonating the Rev. W. T. J. Brown, of Waupaun, when arrested for burglary at St. Joseph, Mo., was Frank Bender, as surmised by Mr. Brown when he read the report of the arrest. In response to Mr. Brown's telegram the chief of police of St. Joseph had Bender's photograph taken and it was forwarded to Mr. Brown, who recognized it at a glance. THE Commercial Bank, of Eau Claire, which closed recently, will be reorganized and reopened. The schedule, which is nearly completed, will show liabilities about $154,000, with assets about $50,000 more than that. While the assets comprise not over $40,000 cash. Receiver Buffing believes all liabilities will be paid in full. STATE VETERINARIAN F. J. TOUSSAINT made a trip through the Northwestern counties recently finding many horses suffering with glanders. Horses belonging to Frank Bodwar, of Somerset, St. Croix County; Arthur Wilson, of Cameron, Barron County, and Sam Wright, Flambeau, Chippewa County, were ordered killed. Mr. Wright lost a horse with the same disease last winter. WILLIAM WALLACE SACKET, who participated in an illegal marriage with Sarah A. Clark, at Racine, and who is in

16. November 1, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, November 1, 1893

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Ninety-Cent Bid Withdrawn. EAU CLAIRE, Wis., Oct. 31-R. A. Buffington, receiver, having withdrawn his offer to buy the assets of the Commercial bank and pay depositors 90 cents, the attorney for the depositors announces that some of the depositors intend to commence criminal proceedings against officers of the bank. Ten days will be taken, however, to find some capitalist to make the same terms originally offered by Buffington.

17. January 15, 1894 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, January 15, 1894

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Eu Claire Bank to Reorganize. EATCLAIRE, Wis, Jan. 15.-Application ks been made by an attorney for the Cumercial bank for an order of the courtdischarging Receiver Byron A. Ruffuton with a view to reorganization of the bank and reopening at an early ete. The basis of reorganization will ben agreement of depositors to become ackholders. for PAUD AND CONSPIRACY.

18. January 17, 1894 Watertown Republican Watertown, WI
Article from Watertown Republican, January 17, 1894

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EAU CLAIRE BANK RESUMES. The Court Grants an Order Discharging Receiver Buffington. EAU CLAIRE, Wis., Jan. 15.-The Commercial Bank, which went into the hands of a receiver July 29 last, was reopened at 3.0' clock this afternoon, the court having signed an order at noon discharing Receiver Buffington. The bank officers under the reorganization are: F. C. Allen, president; Otto Boberg, vice-president; Thomas B. Culver, cashier.

19. January 17, 1894 New Ulm Review New Ulm, MN
Article from New Ulm Review, January 17, 1894

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Eau Claire Bank Resumes. EAU CLAIRE, Wis., Jan. 16.-The Commercial bank, which went into the hands of a receiver July 29 last, was reopened at 3 p. m., the court having signed the order at noon discharging Receiver Buffington. The bank officers under the reorganization are F. C. Allen, president; Otto Boberg, vice president; Thomas B. Culver, cashier.

20. January 17, 1894 New Ulm Review New Ulm, MN
Article from New Ulm Review, January 17, 1894

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Eau Claire Bank Resumes. EAU CLAIRE, Wis., Jan. 16.-The Commercial bank, which went into the hands of a receiver July 29 last, was reopened at 8 p. m., the court having signed the order at noon discharging Receiver Buffington. The bank officers under the reorganization are F. C. Allen, president; Otto Boberg, vice president; Thomas B. Culver, cashier.

21. January 18, 1894 The Princeton Union Princeton, MN
Article from The Princeton Union, January 18, 1894

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Eau Claire Bank Resumes. Eau Claire, Wis., Jan. 16.-The Commercial bank, which went into the hands of a receiver July 29 last, was reopened yesterday, the court having signed the order discharging Receiver Buffington. The bank officers under the reorganization are F. C. Allen, president; Otto Boberg, vice president; Thomas B. Culver, cashier.

22. January 19, 1894 The Weekly Tribune Great Falls, MT
Article from The Weekly Tribune, January 19, 1894

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Eau Claire Bank Resumes. EAU CLAIRE, Wis., Jan. 17.-Th Commercial bank, which went into t) hands of a receiver July 29 last, was reopened at 3 p. m., the court having signed the order at noon discharging Receiver Buffington. The bank officers under the reorganization are F. C. Allen, president; Otto Boberg, vice president; Thomas B. Culver, cashier.

23. January 19, 1894 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, January 19, 1894

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The Madison correspondent of the Milwaukee Journal says that Assistant State Treasurer Proudfit is authority for the statement that the resurrection of the Wisconsin Marine and Fire Insurance company bank of Milwaukee and the Commercial bank of Eau Claire releases all the moneys of the state that were tied up by the suspension of banks last summer. The amount due the state from both these banks was about $157,000, and, although there was a great cry that the state had lost large amounts of money through these bank failures, the money is again safe.

24. January 20, 1894 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 20, 1894

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To SHOW the sincerity of his conversion a Wellman (la.) saloonkeeper burned his fixtures in the public park. THE Fire and Marine bank in Milwaukee which failed in the panic of last July has reopened its doors for business. THE Commercial bank at Eau Claire, Wis., has resumed business.