22843. German American Bank (Port Washington, WI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
July 26, 1893
Location
Port Washington, Wisconsin (43.387, -87.876)

Metadata

Model
gpt-5-mini
Short Digest
61e8de4c

Response Measures

None

Description

Multiple contemporaneous reports (July 28, 1893) state the German-American Bank closed its doors and a receiver (L. / M. Andier) was appointed; later local papers report the bank suspended payment on July 26 and then reopened Aug 21–22 with cashier Clark arranging installment payments to depositors. Causes cited link the bank's trouble to failures at Plankinton and Mitchell in Milwaukee (distress of other local banks).

Events (3)

1. July 26, 1893 Suspension
Cause
Local Banks
Cause Details
Bank was caught in both the Plankinton and Mitchell bank failures at Milwaukee, i.e., hit by failures/distress of other local banks.
Newspaper Excerpt
which suspended payment on July 26 and has been closed since
Source
newspapers
2. July 28, 1893 Receivership
Newspaper Excerpt
M. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing.
Source
newspapers
3. August 21, 1893 Reopening
Newspaper Excerpt
The German-American Bank ... which suspended payment on July 26 and has been closed since, will reopen for banking business to-morrow. R. H. Clark, the cashier, has promised to pay all depositors their money in installments.
Source
newspapers

Newspaper Articles (18)

Article from The Helena Independent, July 29, 1893

Click image to open full size in new tab

Article Text

Business Failures. DENVER. July 28.-The Denver Hardware company has failed for a large amount. No statement. PORTLAND, Ore., July 28.-The Union Did Banking company has failed. small business. MT. STERLING, Kv., July 28.-The Traders' Deposit bank failed as a result of a run. Liabilities $150,000, assets $390,000. MILWAUKEE. July 28.-Specials report the failure of the German American bank, of Port Washington, and Seymour's bank. of Chiprews Falls. HARRISBURG, Pr., July 28. - The Harrisburg rolling mills. one of the largest creditors of the American Iron & Tube company. which failed yeaterday. abut down indefinitely.


Article from The Anaconda Standard, July 29, 1893

Click image to open full size in new tab

Article Text

PEOPLE AND PLACES. WASHINGTON, July 28.-Director Preston purchased 100,000 ounces of silver today at $0.7030 per ounce. PUEBLO, Col., July 28.-Seven lives were lost in the floods here. The financial loss is a quarter of a million. DALLAS, Texas, July 28.-Henry Miller, colored. was banged to-day for the murder of Policeman Brewer last year. WASHINGTON, July 28.-An abstract of the report of the condition of the national banks of San Francisco, on the date of the last call. shows that their reserve was 28.92 per cent. MILWAUKEE. July 28.-Specials report the failure of the German-American bank at Port Washington and the Seymour bank of Chippewa Falls. NEW YORK, July 28.-The clearing house committee issued $2,000,000 clearing house certificates up to noon. Total now outstanding. $25,250,000. HARRISBURG, Pa., July 28.-The Harrisburg rolling mills. one of the largest creditors of the American Iron and Tube company. which failed yesterday. has been shut down indefinitely. WHEELING, W. Va., July 28.-Sheriff Curtis of Brooke county has been arrested. Investigation shows the amount of his shortage of state and county funds to be over $40,000. SEATTLE, Wash., July 28. - Vice President Stevenson and party arrived here at noon. They were driven about the city and this evening a public reception was held. The party will leave for the East to-morrow over the Great Northern. SPRINGFIELD, III., July 28.-The relay bicycle riders, with a message from Governor Boies to Governor Altgeld. arrived this afternoon an hour and five minutes behind time. Much time was lost in the Mississippi valley on account of sand hills. MANCHESTER. N. H., July 28.-It is rumored that Charles F. Morrill, treasurer of the Derryfield Savings bank and Peo. ple's Insurance company and cashier of he suspended bank of the commonwealth, absconded. is said to be short 111 his accounts in all three. CHIRUAHUA Mexico, July 28. put a stop to cattle stealing on the R. Grande border the state of Chihuabua has passed a law that any one caught in the act of stealing will be shot on the spot and the death penalty inflicted on all convicted of being cattle thieves. CORNING, Ohio, July 28.--A white conviet named Davis, released from the penitentiary, found his wife living with a negro. He went to the house last night. found several persons there and started a row in which James Chifford was killed and Davis fatally hurt. Several others were seriously injured. WASHINGTON. July 28.-The - president has issued a proclamation reciting the various acts of congress relating to the salvage of vessels wrecked in Canadian waters contiguous to the United States and declaring that the conditions prescribed therein must be fulfilled and ordering that Canadian vessels be aided in case of wreck by Canadian wreckers.


Article from The Times, July 29, 1893

Click image to open full size in new tab

Article Text

closed their doors here yesterday-the M. A. Thayer Bank and Bank of Sparta. The cashiers of both institutions claim that the action was taken to protect depositors and that the banks will resume. The liabilities of 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 assets of $500,000. PORT WASHINGTON WIS., July 28.The German-American bank closed its doors this morning. The bank has been singularly unfortunate, having been caught in both the Plankington and Mitchell bank failures at Milwaukee. M. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing. 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 the town. PORTLAND, ORE., July 28.-The Union Banking Company has suspended. GREAT FALLS, MONT., July 28.-The First National Bank, of this city, suspended payment this morning. LOUISVILLE, July 28.-The Clearing House Association decided to-day to assist the weak banks by issuing certifled checks on clearing house banks, as was done during the stringency of 1890. Business Embarrassments. BOSTON, July 28.-The Tremont and Suffolk Mills, at Lowell, go on half time, beginning Monday. The York Mills, at Saco, Me., will shut down for five weeks. E. W. Chapin & Co.'s Satinet Mill, at Northboro, Mass., has shut down and the firm has assigned. PITTSBURG, July 28.-The Bessemer steel department of Jones & Laughlins Brownstown Mill closed to-day and five hundred men are idle in consequence. Mr. Jones refused to answer any questions on the subject, and the air is full of rumors. The men fear a long suspension. LOUISVILLE, KY., July 28.-The Ahrens-Ott Manufacturing Company has notified its men in the factory that they will after to-morrow be reduced to onefourth until further orders. The company manufactures plumbers' and steam supplies, and has two factories. The full force employed at these factories is four hundred men, and only about one hundred will be retained for the present. NEW YORK, July 28.-Adolph Goldsmith and Sigmund A. Goldsmith, composing the firm of Adolph Goldsmith & Son, jewelers and diamond dealers, 88 Maiden Lane, to-day assigned to Jonas H. Monsheimer, with preferences for $38,043 to numerous creditors. SAN ANTONIO, TEX., July 28.-The extensive coal mines of the Mineral Colliery Company, in Webb county, have closed down, throwing a large number of men out of work. There is no prospect of starting again. The men are leaving the county. DENVER, COL., July 28.-The Denver Hardware Company failed to-day. The house is one of the largest in Denver. Ex-State Treasurer Corwing is at the head of the firm. NEW YORK, July 28.-The failure of Horatlo D. Averill was announced at the Consolidated Exchange this morning. Liabilities small.


Article from Richmond Dispatch, July 29, 1893

Click image to open full size in new tab

Article Text

Record of Failure. [By telegraph to the Dispatch.] ELLENSBURG, WASH. July 28. - -The Ellensburg National Bank suspended payment yesterday. No statement. George B. Markle, president of Town's Bank, which failed in Portland yesterday. was also president of the Ellensburg Bank. 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 that the action was taken to, protect depositors and that the banks will resume. The liabilities of the M. A. Thayer Bank are placed at about $175,000. and the assets at $225,000. while the liabilities of the Bank of Sparta are said to be $210,000, with assets of $500,000. MOUNT STERLING, Ky., July 28. -Last evening the officers of the Traders' Deposit Bank decided to suspend payment. owing to a heavy run on the bank yesterday. caused by the suspension of the Farmers' Bank. The bank owes $150,000 and has $39,000 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. Lia. bilities small. NEW YORK, July 28. - -Adolph Goldsmith and Sigmund A. Goldsmith, composing the firm of Adolpn Goldsmith & Son, jewellers and diamond dealers, 38 Maiden Lane, to-day assigned to Jonas H. Monsheimer, with preferences for $38,043 to numerous creditors. SAN ANTONIO, TEX., July 28.-The extensive coal mines of the Mineral Colliery Company. in Webb county, have closed down. throwing a large number of men out of work. There IS no prospect of starting again. The men are leaving the county. GREAT FALLS, MONT., July 28. - The First National Bank of this city suspended payment this morning. PROVIDENCE, July 28.-The following cotton-mills in Burrillville have closed: A. L. Sales & Sons, Arnold & Perkins, Job E. Fiske, Jr., W. A. Inman, William Linkham & Co., and J. B. Nichols & Sons. CHIPPEWA FALLS, WIS., July 28.-G. E. Seymour's private bank closed its doors here this morning. PORT WASHINGTON, WIS. July 28.-The German-American Bank closed its doors this morning. There are ample securities, and depositors will lose nothing. DENVER, COL., July 28.-The Denver Hardware Company failed to-dav. ExState-Treasurer Corning is at the head of the firm. BOSTON. July 28.--E. W. Chapin & Co.'s satinet-mill, at Northboro', Mass., has shut down and the firm has assigned.


Article from The Morning News, July 29, 1893

Click image to open full size in new tab

Article Text

A BANK IN HARD LUCK. Two Failures Tie Up Its Funds and Force a Suspension. Port Washington, Wis., July 28.-The German American Bank closed its doors this morning. The bank had been singularly unfortunate, having been caught in both the Plankington and Mitchell bank failures at Milwaukee. M. Andier has has been appointed receiver. There are ample securities, and the depositors will lose nothing.


Article from Wheeling Register, July 29, 1893

Click image to open full size in new tab

Article Text

CONCERNING BUSINESS AND FINANCE. HARRISBURG, PA., July 28.-The Harrisburg Rolling Mill Company, one of the largest creditors of the American Tube and Iron Company, which yesterday went into the hands of receivers, shut down last evening, and a notice was posted on the door that would be closed indefinitely. Over 400 men are thrown out of employment. GREAT FALLS, N. D., July 28.-The First National Bank of this city suspended this morning owing to the Helena banks suspensions. Assets are much above the liabilities and it is believed it will soon resume. CHICAGO, July 28.-On application of Adam S. Matheson, receiver of the American Tube and Iron Company of Pennsylvania, Robert K. Story was appointed receiver on the western branch of the company. Story is the western manager. The asseta of the branch are estimated at $190,000. MILWAUKEE, WIS., July 28.-Specials to the Evening Wisconsin from Port Washington says the German-American Bank at that place failed to-day. Another special says Seymour Bank at Chippewa Falls also failed to-dav. DENVER, COLO., July 28.-The Denver Hardware Company at noon to-day made an assignment to James A. McClurg. No statement is given; the liabilities and assets, however, will be large. NEW YORK, July 28.-Three hundred and forty-seven thousand dollars in gold came in on the first steamer this morning from Europe. MOUNT STERLING, Kr., July 28.-The Trader's Deposit bank is closed to-day by order of the directors. The heavy run caused the failure. Liabilities $160,000, assets $390,000. NEW YORK, July 28.-Adolph Goldsmith & Sons, jewelers and diamond dealers at No. 38 Maiden Lane to-day assigned to J. H. Monsheimer, with preferences for $38,043; debts $200,000. BALTIMORE, MD., July 28.-A summary of the bank failures in the United States from May 1st to July 22d, inclusive, shows that three hundred and one banking institutions, with a capital of $38,951, the thirty-three suspended. The Manufacturers. Record publishes a complete list of the closed banks by States, also a table which shows that five sixths of these failures and four-fifths of the capital involved were in the Western and Pacific States, while only ten per cent of the failures and eleven per cent capital involved in the South. In Colorado alone the capital involved was nearly $2,000,000 greater than the aggregate capital of all the banks that failed in the South. The number of failures in the Southern States was thirty-seven, involving $4,392,100; in the Western and Pacific States the number was 251, involving $31,259,933, and in the Eastern and Northern States 13, with $2,500,000 capital. CLEVELAND, O., July 28. - A receiver was appointed to-day to take charge of the Ohio branch of the American tube works, at Youngstown. BROOKLYN, N. Y., July 28.-Joseph Lecomte, a manufacturer of sheet metal, made a general assignment to-day. It is impossible to learn the amount of Mr. Lecomte's liabilities, but they are said to be greatly in excess of his total assets. The general depression in trade is said to have been the cause of the failure.


Article from New-York Tribune, July 29, 1893

Click image to open full size in new tab

Article Text

MORE BANKS GO UNDER. NINE CLOSED IN THE WEST AND ONE IN KENTUCKY. ONLY THREE NATIONAL BANKS IN THE NUMBER -SEVERAL OF THE INSTITUTIONS LIKELY TO RESUME BUSINESS. Ellensburg, Wash., July 28.-The Ellensburg National Bank suspended payment on Wednesday. George B. Markle, president of the two banks which failed in Portland on that day, is also president of the Ellensburg bank. Portland, Ore., July 28.-The Union Banking Company has suspended. Great Falls, Mont., July 28.-The First National Bank of this city suspended this morning. The assets are much above the liabilities, and it is believed that the bank will soon resume. Money stringency is given as the cause of the failure. The bank was owned in large part by the Great Falls Town Site Company, and was a depository for the Great Northern Railway. Washington, July 28.-The First National Bank of Great Falls, which suspended this morning, has a capital of $250,000. The bank carries a line of individual deposits from $650,000 to $700,000. Controller Eckels is advised that the Chamberlain National Bank, of Chamberlain, S. D., capital $50,000, individual deposits $15,000, failed to-day. Milwaukee, July 28.-Dispatches to "The Evening Wisconsin" from Port Washington say the GermanAmerican Bank at that place failed to-day. Chippewa Falls, Wis., July 28.-G. W. Seymour's private bank closed Its doors here this morning. There were runs on all the other banks in the town. Chicago, July 28.-A dispatch to "The Record" from Martinsville, Ind., says: The S. M. Mitchell Bank, established thirty years ago, and backed by $500,000, went, into. voluntary liquidation yesterday. The cause of the action, it is said, is the 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 say that the action was taken to protect depositors, and that the banks will resume. The liabilities of the Thayer Bank are placed at about $175,000, and the assets at $225,000. The liabilities of the Bank of Sparta are said to be $210,000, with assets of $300,000. Mt. Sterling, Ky., July 28.-The officers of the Traders' Deposit Bank decided last night to suspend payment, owing to a heavy run on the bank yesterday, caused by the Suspension of the Farmers' Bank. The bank owes $150,000, and has $390,000 of good assets, and the officers hope to resume business a: an early day.


Article from The Morning Call, July 29, 1893

Click image to open full size in new tab

Article Text

pany aggiegates about $20,000, and it has a paid up capital stock of $85,000. DENVER. July 28.-The Denver Hardware Company has failed for a large amount. There is no statement. MOUNT STERLING. Ky., July 28.-The Traders' Deposit Bank has failed, as the result of a run; liabilities, $150,000. MILWAUKEE, July 28.-Specials report the failure of the German-American Bank at Port Washington, and Seymour's Bank at Chippewa Falls. DENVER, July 28. - The Confidence mines, in the Mogoilen Mountains. have been attached by Silver City (N. Mex.) banks and the First National Bank of this city. The attachments aggregate $45,000. The mines are owned by George Crawford of New York. PITTSBURG, July 28.-The Bessemer steel department of Jones & Laughlin's plant closed down to-day, throwing 500 men out of employment. A condition of uncertainty exists also at the works of the Oliver Iron and Steel Company and the employes are apprehensive of a protracted shutdown. COVINGTON, Ind., July 28. - The Farmers' and Merchants' Bank of this city closed to-day owing to the heavy demand for money and an inability to realize on securities. There is no statement as yet. Ex-United States Treasurer Nebeker is its president. NEW YORK, July 28.-It is learned tonight that an important meeting of the presidents of savings institutions in New York and Brooklyn was h-ld to-day, at which it was decided to recommend to the trustees and directors of the various banks to enforce the sixty days' notice clause on savings banks. CONCORD. N. H., July 28-The Derryfield Savings Bank and Trust Company of Manchester, with deposits of $150.000, which has been under temporary suspension since the closing of the National Bank of the Commonwealth, was enjoined to-night from transacting any further business by Bank Commissioner Lyford.


Article from The Sun, July 29, 1893

Click image to open full size in new tab

Article Text

MORE BANKS FAIL. Four In Wisconsin, One in Montana, and Another in Kentucky. MILWAUKEE. July 28.-Two banks in Sparta. Wis., closed their doors here yesterday. the M. A. Thayer Bank and the Bank of Sparta. The cashiers of both institutions say that the action was taken to protect depositors and that the banks will resume. The liabilities of the M. A. Thayer Bank are placed at about $175.000 and the assets at $225,000: while the liabilities of the Bank of Sparta are said to be $210,000. with assets of $300,000. The German-American Bank at Port Washington and Seymour's Bank at Chippewa Falls, Wis., failed to-day. GREAT FALLS. Mont. July 28.-The First National Bank of this city suspended this morning. owing to the Helena bank suspensions. Assets are much above liabilities. and it is believed it will soon resume. The bank was owned in large part by the Great Falls Town Site Company. and was a depository for the Great Northern Railway. It has a capital of


Article from Daily Kennebec Journal, July 29, 1893

Click image to open full size in new tab

Article Text

NEWS NUGGETS. Srought by the Wires From the North. East South and West. The Ellensburg National Bank of Ellensburg Wash. suspended payment Thursday. The First National Bank of Great Falls, Mont., suspended Friday noon. The bank's assets are much above the liabilities. A Negaunee (Mich.) dispatch says that the North Buffalo Mint of the Buffalo Mining Company closed down Wednesday night. The Minnesota Iron Company will immediately close all mining operations at the hard ore mines of the company in Michigan until further notice. Adolph Goldsmith & Son, jewelers and diamond dealers, 38 Maiden lane, New York, have assigned. It is believed their liabilities will be large. A special from Port Washington, Wis., says the German American Bank at that place failed Friday. Seymour's Bank at Chippewa Falls also failed. At a meeting of the Tremont and Suffolk mills at Lowell, Mass., held in Boston, Friday. it was voted to operate these mills on half time. beginning Friday. Surgeon Martin of the navy, on duty at Marseilles, cabled Dr. Wyman, surgeonveneral of the marine hospital, Friday that cholers prevails at Lavalette and Aubenas, France. James G. Hill of the Great Northern Railway has purchased the Sioux City Northern Railway and also the Sioux City, Yankton & Southwestern Railway now under construction. An Ishpeming (Mich) telegram says that the Lake Superior Iron Company, which laid off 250 men 10 days ago, will close down section 16 of their mine, throwing 200 men out, Saturday night. The New Farmers' Bank of Mt. Sterling, Ky., closed its doors Friday. The deposits are about $300,000. The bank holds first-class paper to the amount of $600,000. Depositors will be paid in full. The Traders' Deposit Bank of Mount Sterling, Ky., has suspended owing to H the avy run bn the bank Tuesday caused by the suspension of the Farmers' Bank. The bank owes $150,000 and has $390,000 of assets, po The wire nail manufacturers of Pitts. burg, Pa., held a meeting and, in view of the depressed condition of business. it WHS decided to continue the shut down until Sept. 1. All wire nail manufactories in the United States are shut down at present. The schooner Aldine from Rockport, Maine, July 15, for Port De Paix. Hayti, hich put into Bahia for repairs, has been the pas that she discharge her cargo, as she is leakng badly and her upper works are dampase Two banks closed their doors at Sparta. Wis., Friday, the M. A. Thayer bank and the Bank of Sparta. Liabilities of the Thayer Bank are about $175,000. and the assets $225,000. The liabilities of the Bank of Sparta are 8210,000, with assets 10 The Harrisburg Rolling Mill Co., one of the largest creditors of the American Tabe and of Harrisburg. Pa., which


Article from The Madison Daily Leader, July 29, 1893

Click image to open full size in new tab

Article Text

An Unfortunate Rank. PORT WASHINGTON, Wis., July 29.- The German American bank has closed its doors. The bank had been singularly unfortunate. having been caught in both the Plankinton and Mitchell bank failures at Milwaukee. L. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing.


Article from The Salt Lake Herald, July 29, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. The Denver Hardware company has failed for a large amount. No statement. Adolph Goldsmith & Son, jewelers of New York, have failed. Liabilities $200,000. At Portland, Ore., the Union Banking company failed yesterday. It did a small business. Director of the Mint Preston on yesterday purchased 100,000 ounces of silver at $0.7030 per ounce. Forty cases and twelye deaths from choleratic disease are reported in the El Pinde, Spain, district. Wilde & Wickhams, wholesale teas, coffees and spices, of New York, have assigned. No statement. The president has issued a proclamation including Portugal in the benefits of the international copyright act. At Dallas, Tex., yesterday, Henry Miller, colored, was hanged for the murder of Policeman Drewer last year. Ada Hiers, a negress, was hanged at Waltersbo, S. C., yesterday, for the murder of her half brother last June. Specials report the failure of the German American bank of Port Washington, and Seymour's bank, Chippewa Falls, Wis. Three hundred and forty-seven thousand dollars in gold came in on one steamer at New York yesterday morning from Europe. The amount of silver offered the treasury yesterday was 250,000 ounces at $0,7050 to $0,7060. All were declined and $0,7020 tendered. Sheriff Curtis of Brooke county, W. Va., has been arrested. Investigation shows that the amount of his shortage of state and county funds will be over $40,000.


Article from St. Paul Daily Globe, July 29, 1893

Click image to open full size in new tab

Article Text

Busy Times at the "Plymouth," Seventh and Robert, And heavy losses in all departments. to close out summer outfits before stock taking. THE LIST OF FAILURES. A Chippewa Falls Bank Among Those Going Down. Special to the Globe. CHIPPEWA FALLS. Wis., May 28.The Seymour bank, of this city, closed its doors this morning. Upou the door was posted the notice: "Closed on account of the stringency of the money market." It was a state bank organized in 1870. There had been a quiet run on the bank for some time, and it was not entirely unexpected. Immediately tollowing the close of Seymour's a run was started upon the First National and Lumbermen's National banks, but so far it has not proven serious. GREAT FALLS, Mont., July 28.-The First National bank closed its doors today on account of the suspension yesterday of the two Helena banks: Assets and liabilities are not given. PORT WASHINGTON, Wis., July 28.The German-American bank closed its doors this morning. The bank had been singularly unfortunate, having been caught in both the Plankinton and Mitchell bank failures at Milwaukee. L. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing. MILWAUKEE, Wis., July 28.-The R. Suhm Leather company has åssigned to John J. Suhm, whose bond was fixed at $80,000. Caspar H. Kroeger, a real estate dealer, has made a voluntary assignment to W. T. Lochemes, whose bond was fixed at $8,000. PITTSBURG, July 28.-The liabilities of the American Iron and Tube company, which failed yesterday at Harrisburg, are placed at $1,250,000, with assets exceeding $2,000,000. The receivers appointed were A. S. Matheson. of New York, and R. C. Neal, of Harrisburg. The works at Middletown and Youngs, town will be kept in operation. WASHINGTON, July 28.-Comptroller Eckels is advised that the Chamberlain National bank, of Chamberlain, S. D., capital $50,000, individual deposits $15,000, failed today. NEW YORK. July 28.-The announcement of the failures of H. C. Averall and C. H. Connelly was made on the consolidated exchange just before 2 p. m. today. The liabilities are small. The failures are attributed in both cases to the decline in Sugar and General Electric. PORTLAND, Or., July 28.-The Union Banking company made an assignment today. The institution did a small business and the failure caused no excitement. FALL RIVER, Mass., July 28.-Within twenty-four hours there has been a great change in feeling on the part of manufacturers. The Weetamoe mill managers have publicly announced their intention to shut down four weeks in August, and led other men to follow their example. This morning it is reported that the Flint and American linen mills will shut down in August for a longer or shorter period, dependent wholly on the condition of the money markets. The mills are well able to meet all their obligations, but the directors feel that it is useless to pay 8 per cent for time loans to enable them to pay operatives' wages. Some of the manufacturers say they cannot get money at any percentage, and they


Article from The Enterprise, August 2, 1893

Click image to open full size in new tab

Article Text

NEWS OF THE WEEK. Gathered from All Quarters. DOMESTIC. NOTICE has been posted in the Bates mill at Lewiston, Me., stating that the mill would be shut down August 5 for five weeks. The mill employs 1,800 people with a monthly pay roll of $120,000. AT Palmyra, Pa., on the 27th ult., four houses owned by William Henry, furniture dealer, and four barns, the property of different persons, were destroyed by fire, entailing a loss of between $16,000 and $20,000. ON the 27th ult. Arbuckle Bros.' Ariosa coffee mill at Brooklyn, N. Y., which closed down recently, resumed operations on a limited scale. The firm's managers denied that the company was affected by the business depression. AT Pittsfield, Mass., on the 27th ult. Cashier Edward S. Francis, of the Pittsfield National bank, who had been the subject of much unpleasant newspaper talk and who resigned his position rerently, committed suicide by shooting. A. J. McPEAK, ex-treasurer of Furnas county, Neb., was arrested on the 27th ult., charged with embezzling county funds to the amount of $10,000. The losses cover a period of which he was in office, from 1888 to 1892, and were immediately discovered when the books were turned over to his successor. AT Spokane, Wash., on the 27th ult. the First National bank closed its doors and with it an allied institution, the Spokane Savings bank. THE American Tube Iron Company, located at Middletown, Pa., has gone into the hands of a receiver. THE Deer Creek cotton mills at Cincinnati, O., and a belting factory controlled by the Henry Pearce Sons .Co., shut down indefinitely on the 27thult., 009 throwing Dull trade is the cause given. THE wire nail manufacturers held a meeting at Pittsburgh on the 27th and in view of the depressed condition of the business it was decided to continue the shut down until September 1. All the wire nail factories in the United States are shut down at present. IN a boiler explosion at Salem, Ky., on the 27th. John and George Dambron were killed and William Dambron's "No torn SEM ULIB up failures rueq the JO V the United States from May 1 to July 22 inclusive, shows that 301 banking institutions, with a capital of $88,951,033, suspended. AT noon on the 27th H. S. Wilmot and Samuel S. Smith started from Philadelphia to walk to San Francisco. The men expect to accomplish the journey in about 150 days. SECRETARY CARLISLE has replied the request of Kentucky distillers for an extension of ninety days in which to pay their internal revenue taxes upon their whisky which has been three years in bond, that the law perative and leaves him no discretion in the premises. THE directors of the York mills Saco. Me., met at Boston on the ult. and voted to shut down the for five weeks. This action was in cordance with an agreement made the directors of all colored cottonmills in New England. THE Bessemer steel department of Jones & Laughlin's Brownstone closed at Pittsburgh on the 28th and 500 men are idle in consequence. AT Pittsburgh, Pa., on the 28th ult. fire started in the rear of a saloon, which Charles O' Donnell, a roller the Lindsay iron mill, andan unknown man were burned to death. ON the night of the 27th ult. a Lake Shore freight train broke in two Harbor Creek, Pa., and the sections collided. Five tramps riding on a lumber car were caught and Louis and Daniel Egan were crushed to death. AT Port Washington, Wis., on 28th ult. the German-American bank closed its doors. The bank had singularly unfortunate, having been caught in both the Plankinton Mitchell bank failures at Milwaukee BUSINESS failures during the week ended July 28 numbered for the United States 386 and for Canada 22, or a of 409: against 457 the previous and 171 for the corresponding week last year. AT San Francisco, Cal.. on the ult., a statement was published to effect that prominent local business men had been shipping arms and munition to Hawaii to place the tives in a position to make a successful fight against the government. LOUIS IRIG died on the 28th ult. Whitney, Neb., after sleeping three B up pesodxe SEM 1 months storm in April, and after retiring awoke from his slumbers but twice once for about an hour and the time for only ten minutes. THE Harrisburg (Pa.) Rolling Company, one of the largest creditors of the American Tube and Iron pany, shut down on the 28th ult. and notice was posted on the door that would be closed indefinitely. Over men were thrown out of work. CoL. FREDERICK C. AINSWORTH,


Article from Grant County Herald, August 3, 1893

Click image to open full size in new tab

Article Text

OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.


Article from Wood County Reporter, August 3, 1893

Click image to open full size in new tab

Article Text

FEW MORE FAILURES. Chippewa Falls, Wis., July 28.-The private bank of D. E. Seymour posted a notice at the opening hour this morning to the effect that on account of the stringency in the money market and inability to make collections they were obliged to suspend payment. There was a small run on the bank yseterday to which, together with the withdrawal of the city and county funds by /the krespective treasurers, can be attributed the closing of the bank. The assets far exceed the liabilities and it is believed in a few days Seymour will pay every dollar. There was much excitement manifested on the street and steady withdrawals of money from the First National and Lumberman's National. It is believed they have money enough to pay all. Port Washington, Wis., July 28.-The German-Ameircan bank closed its doors this morning. Mt. Sterling, Ky., July 28.-The Traders' Deposit bank stood the strain of a heavy run all day yesterday, but the officers concluded that the wisest thing to do was to assign,as the chances were that today's run would be heavier than yesterday. The bank owes about $150,000. The assets are double this amount. New York, July 28.-The failure of Horatio D. Averill was announced at the Consolidated exchange this morning. Liabilities small. Adolph Goldsmith and Sigmund A. Goldsmith & Son, jewelers and diamond dealers at No. 38 Maiden lane, today assigned, with preferences for $38,043.38 to numerous creditors. Great Falls, Mont., |July 28.-The First National bank of this city closed its doors this morning by order of the directors. No reason is assigned and a statement is refused by bank officers. Liabilities according to the last statement, reach $600,000 or $700,000. S. C. Ashby, the largest dealer in agricultural implements in Montana with stores at various points, assigned today. Washington, D. C., July 28.-Comptroller Eckels was advised that the Chamberlain National bank, of Chamberlain, S. D., capital $50,000, individual deposits $15,000, failed today.


Article from Watertown Republican, August 23, 1893

Click image to open full size in new tab

Article Text

PORT WASHINGTON BANK RESUMES. Cashier Clark Makes a Satisfactory Arrangement with Depoitors. PORT WASHINGTON, Wis., Aug. 21.The German-American Bank, of this city, which suspended payment on July 26 and has been closed since, will reopen for banking business to-morrow. R. H. Clark, the cashier, has promised to pay all depositors their money in installments. It is not supposed that any creditors will withdraw their money after the bank opens.


Article from Eagle River Review, August 24, 1893

Click image to open full size in new tab

Article Text

PORT WASHINGTON BANK RESUMES. Cashier Clark Makes a Satisfactory Arrangement with Depoitors. PORT WASHINGTON, Wis., Aug. 21.The German-American Bank, of this city, which suspended payment on July 26 and has been closed since, will reopen for banking business to-morrow. R. H. Clark, the cashier, has promised to pay all depositors their money in installments. It is not supposed that any creditors will withdraw their money after the bank opens.