First National Bank (Los Angeles, CA)

View Charter #2491 on SPMC View balance sheet

Episode Information

Episode UID
249101122
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
24910 national
Charter Number
2491
Start Date
June 21, 1893
Location
Los Angeles, California (34.052, -118.244)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a729599adc374676

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Capital injected, Partial suspension, Full suspension, Books examined

Events (4)
1. August 16, 1880 Chartered
Source
historical_nic
2. June 21, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
Newspapers describe an idiotic/senseless run and street rumors driving heavy withdrawals of over $600,000 in two days.
Measures
Directors closed doors; appealed for depositors' patience; offered certificates (90 days) to some depositors as temporary measure.
Newspaper Excerpt
owing to a heavy run upon the bank amounting to over $600,000, the bank was closed by order of the board of directors.
Source
newspapers
3. June 21, 1893 Suspension
Cause
Rumor Or Misinformation
Cause Details
Board ordered closure after unprecedented withdrawals and runs driven by street rumors (not insolvency).
Newspaper Excerpt
this bank is forced to close its doors, by order of the directors.
Source
newspapers
4. July 15, 1893 Reopening
Newspaper Excerpt
The First National bank opened to-day. The deposits exceeded the withdrawals by about $225,000.
Source
newspapers

Newspaper Articles (24)
1. June 22, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, June 22, 1893

Click image to open full size in new tab

Article Text

FOUR BANKS FAIL. California Institutions Closed Their Doors Yesterday. Los ANGELES, CALA., June 21.-Four banks closed their doors to-day. They were the National, Southern California, Broadway Bank and South Side Bank. President Melliott, of the First National, said: "The unprecedented run of the last two days, during which we paid checks of over $600,000, was more than we could stand. The amount of liabilities to the depositors will be somewhere in the vicinity of $1,250,000, against which we have all our bills receivable, capital and surplus which will amount in the aggregate to $500,000 more than this sum."

2. June 22, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, June 22, 1893

Click image to open full size in new tab

Article Text

COMPELLED TO SUSPEND An "Idiotic" Run on Los Angeles Banks Causes a General Closing of Doors. LIABILITIES WILL BE MET Each Bank Will be Able to Pay Its Depositors in Full-Exciting Scenes on the Street. Los ANGELES. Cal.. June 21.-Four banks closed their doors to-day. They were the First National, the Southern California. the Broadway and the East Side banks. A large crowd assembled at the corner of First and Spring streets early in the forenoon. At 10 o'clock a notice was placed on the doors of the Southern California bank to the effect that the bank would not open to-day. All eyes then turned to the Los Angeles National on the opposite corner. Another large crowd was in front of the First National and the Farmers and Merchants' bank. While there had been all sorts of rumors upon the street about the former. but few people in the crowd. a large majority of whom were curiosity seekers, doubted for a moment that the doors would be open at the usual hour. But a notice was placed upon the doors of the First National to the effect that. owing to a heavy run upon the bank. amounting to over $69,000. the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the state banks. the City and the University, which suspended yesterday. Gerberding says that, from a cursory examination of the University bank. made last night, he found that the bank owes $14,000 and has $80,000 assets. Gerberding says that idiotic would not be too strong a term to apply to the senseless run on the banks here now. as they were never in better condition. Promptly at 10 ''clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along the curbstone, extending north on Spring street for over 100 feet, was on hand under police escort, to take their turns in entering the bank. Just before the iron gates swung open. Major Bonebrake appeared on the steps, bareheaded as he appeared yesterday, and, addressing the crowd. said: "Not a depositor of this vault will lose a dollar of his money, for the bank can pay two dollars for one. I appeal to the depositors to have patience." The speech was greated with cheers. The bank made satisfactory terms with its depositors. The Farmers' and Merchants' bank had a strong pull on its coffers. The officers declared that they were prepared to meet any demand. President J. M. Elliott the First National said: "When this thing commenced. we had over $800,000 in cash on hand and, with our correspondent subject to check at sight. considered ourselves, from the class of paper held. in most excellent condition. The unprecedented run of the past two days, during which we have paid checks of over $600,000, was mere than we could stand. The amount of our liabilities to depositors will he somewhere in the vicinity of $1,250,000, against which we have all our bills receivable. our capital and our surplus, which will amount in the aggregate to $500,000 more than this sum." The Broadway bank. on the corner of Sixth street and Broadway, failed to open this morning. Against the glass of the door was a notice that depositors would be paid. The only liabilities are call deposits of $12,000; certificates of deposit due in September. $10,000; total. $22,000. The bank's commercial loans, well secured. I amount to $40,000. and other securities to f $20,000, making a total of $60,000.

3. June 22, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 22, 1893

Click image to open full size in new tab

Article Text

CALIFORNIA Four Banks in Los Angele Doors--San Diego Banks Fo Los ANGELES. CALA., June banks closed their doors to-day. were the First National, Southern Can fornia, Broadway Bank and East Side Bank. At10 o'clock notice was placed upon the doors of the Southern California to the effect that the bank would not open to-day. A notice was placed shortly afterwards upon the doors of the First National to the effect that owing to a heavy run upon the bank amounting to over $600,000, the bank was forced to close. The East Side Bank door bore the following: "On account of not being able to cash our New York and San Francica exchange we are compelled to close our doors. The depositors will be paid in full." President Melliot, of the First National said: "The unprecedented run of the last two days during which we paid checks of over $600,000 was more than we could stand. The amount of liabilities to the depositors will be somewhere in the vicinity of $1,250,000 against which we have all our bills receivable, capital and surplus which will amount in the aggregate to $500,000 more than thrusum." The Broadway Bank failed to open this morning. Against the glass of the door was a notice that depositure would all be paid. The only liabilities are call deposits, $12,000; certificates due September. $10,000; total, $22,000. Commerc al loans are well secured. SAN DIEGO, CALA., June -Following in the wake of the financial troubles in Los Angeles, the Consolidated National Bank suspended payment this morning. A notice on the door gives the ususl cause, financial stringency, and declares depositors will be paid. The assets are said to be much larger than the liabilities, but no complete statement is now obtainable. The savings bank of San Diego, which has an office with the Consolidated National, and which is closely related in management, suspended at the same time. Owing to a run consequent upon the morning's suspensions, the First National closed its doors this afternoon. It is thought the bank will be amply able to meet all liabilities.

4. June 22, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, June 22, 1893

Click image to open full size in new tab

Article Text

BANK FAILURES IN LOS ANGELE. Los Angeles, Cal., June 21. The Southern California National Bank and the Los Angeles National Bank here have closed their doors. Later in the day the Broadway bank and the East Side bank closed their doors. The First National has announced that the withdrawals of the last two days exceeded $600,000. Bank Examiner Gerberding says the run on the banks is senseless, and that they are all fully solvent. The suspensions created much excitement and great crowds gathered on the streets. Runs were made upon the Farmers and Merchants' and the Los Angeles Banks. The former paid all deposits promptly, but the latter announced it would pay only small depositors, and give the larger part in cash and the remainder in certificates payable in rixty days. San Diego, June 21.-Following in the wake of the financial troubles is To Angeles, the Consolidated National Bank suspended payment this morning The Savings Bank of San Diego, which has its office with the Consolidated National, and which is closely related in management, suspended at the same time, owing to a run consequent upon the morning suspensions. The First National closed its doors this afternoon. Portsmouth, Ohio, June 21.-The Citizens' Savings Bank has failed.

5. June 22, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, June 22, 1893

Click image to open full size in new tab

Article Text

FOUR BANK Los Angeles, Cal., June 21.-Pour closed their doors today. They with first national. the Southern California the Broadway and the East Hill A large crowd assembled at the of First and Spring streets I it noon. At 10 o'clock a notice with upon the door of the Southern the effect that the today. nia would bank ot to open All eyes turned to the Los Angeles National on the opposite side of the other crowd was in front of the De geles and the Farmers and Memo banks. While there had been all rumors 0 the street about the people in the crowd. a large whom were curiosity-suchers doesnoy the doors would open at the usual when a notice was placed on the the First National to the effect the ing to a heavy run on the bank asics to over $600.000, the bank WAS class the directors. The East Side bank's doors bark following notice: "On account of at MAY ing able to cash our New York Francisco exchange TO are BE to close our danta. Depositors paid in full."

6. June 22, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 22, 1893

Click image to open full size in new tab

Article Text

absolutely no excuse for the present crazy run on them. The deposits in nineteen Los Angeles banks on January 1 aggregated about $11,000,000, which is an increase of more than a million dollars during the year. A careful review of the situation at the close of business to-day indicates that the financial atmosphere is clearing. The arrival of n large amount of coin from the north, aggregating $250,000, and the announcement that $500,000 more would ATrive to-day had a reassuring effect, which was shown from the fact that as the closing hour approached there was a falling off rather than an increase in the number of depositors about the various banks. As stated there was an increased demand at the Farmers' and Merchants' Bank for a short time during the morning, but this was checked by the arrival of $250,000 of gold coin from San Francisco in charge of I. W. Hellman. Mr. Hellman stated that this amount was drawn entirely from his own personal resources and that not one cent of it was from the Nevada Bank. The bank will receive $500,000 additional this morning and it will open its doors with over a million in coin in its vaults. which it is believed will be more than enough to meet all demands. During the day $120,000 was withdrawn and deposits made aggregated $65,000 to $75,000. The run on the Los Angeles National Bank was continued throughout the day up to the closing hours, but rather diminished Instead of increased as 3 o'clock approached. The bank remained open during the entire day and did not take advantage of the notice issued that it would keep open but one hour. The demands were light compared with the previous day and offers of assistance were received aggregating $65,000. The Southern California Railroad Company made its usual deposit to-day. On investigation by the Supervisors the deposit of county funds, amounting to $46,500. was found intact. The strong fight made by Major Bonebrake in the face of the most unprecedented run has attracted general attention, and be has received many congratulations and substantial offers of assistance in consequence. There is nothing new in regard to the banks which failed to open this morning. The solvency of the First National and the Southern California is beyond question and every dollar will be paid, which condition exists as to all other hanks which have suspended. There was no run to speak of on any of the other banks of the city, and it is believed that there will not be any. The Bank of America received a heavy accommodation from the Farmers' and Merchants'. and has $125,000 in cash resources in San Francisco which will be available to-day and which will enable i to meet all demands. The savings banks are enforcing the notice rule, and there is no trouble of any sort in these institutions reported. It is estimated that about $3,000,000 has been withdrawn from the banks during the present crisis, and so far not a single mercantile failure has been reported.

7. June 22, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, June 22, 1893

Click image to open full size in new tab

Article Text

fornia to the effect that the bank would not open today. A large crowd was In front of the First National and the Farmer's and Merchants's bank. A notice was placed upon the doors of the First National to the effect that owing to a heavy run upon the bank amounting to over $600,000, the bank had been closed by order of the board of direct. orn. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange. we are compelled to close the doors. Depositors will be paid in full." Promptly at 10 o'clock this morning the Los Angeles National Bank opened its doore. A long line of depositors stretching along the street extending north on Spring street for over one hundred feet, were on hand. Just be. fore the iron gates swung open Mayor Bonebrake appeared on the steps bare. headed as he appeared yesterday and addressing the crowd said: "Not a depositor of this vault will lose a dollar of his money, for the bank can pay two dollars for one. I appeal to de. positors to have patience." The speech was greeted with cheers. The Farmere' and Mechanics' bank stood a strong pull on its coffer. The officers declared they were prepared to meet any demand. President J. M. Elliott of the First National said: "When this thing commenced We had over $800,000 cash in hand and with our correspondents subject to check at sight, and we considered our. selves from the class of paper held, in a most excellent condition. The unprecedented run of the past two days, during which time We have paid checks of over $600,000, was more # than we could stand. The amount of t liabilities to depositors will be some# where in the vicinity of $250,000. against which we have all our billie rc. ceivable, the capital and surplus which will amount in the aggregate to $500,000 more than this sum." whe Brooklyn bank on the corner of Sixth and Broadway, failed to open # this morning. Against the glass of the door was a notice that depositors would be all paid. The only liabilities are # call deposits. Twelve thousand dollarsin certificates of deposits are due t in September, and $10,000 shortly after, 0 a total of $22,000, besides commercial , loans well secured of $40,000, and , other securities of $20,000, a total of $66,000. SUSPENDED PAYMENT. SAN DIEGO, Cal., June 21.-Following in the wake of the financial troubles in Los Angeles the Consoli, dated National bank suspended pay. ment this morning. A notice on the f door gives as the reason the financial f stringency and declares that depositors , will be paid. The assets are said to be 1 much larger than the liabilities but B no complete statement is now obtainr able. / The Savings bank of San Diego, f which has an office with the Consolit dated National and which is closely S related in management, suspended at the same time. The Consolidated is one of the largest and had been considered the most substantial in town. H Owing to the run consequent upon the 1 morning suspensions, the First National closed its doors this afternoon. It is r thought it will be amply able to meet all liabilities. No statement is now obtainable.

8. June 22, 1893 The Herald Los Angeles, CA
Article from The Herald, June 22, 1893

Click image to open full size in new tab

Article Text

reopen its doors today or tomorrow at the farthest. "This matter was sprung upon us so suddenly," said he, "that it found us unprepared with the ready cash, and after paying out a large amount of money yesterday it was decided to close our doors. Our depositors are with us, however, and are working hand in glove to enable us to tide over the difficulty. "Most of them have agreed to take a certificate for 90 days for their deposits, without interest. In such case we could get about one-sixth of our securities cashed and that amount would enable us to reopen tomorrow. We have already had assistance of a substantial character offered us, and I think I can safely say that we will be open for business by tomorrow or Friday at the farthest." THE FIRST NATIONAL. Main street, in front of the First National bank, presented a spectacle of mostintense excitement yesterday morning as the hour of opening approached. Many were the opinions expressed pro and con in regard to its opening, and although some claimed to be confident that its doors would remain closed, the appearance of the following notice called forth expressions of undoubted surprise: "Owing to the heavy withdrawal of deposits during the last two days, amounting to more than $600,000, this bank is forced o.close its doore, by order of the directors." Many of the waiting and expectant depositore were surprised and inclined to be unruly but it was not long before a feeling that the bank had acted wisely under the circumstances and that every one's money was safe prevailed and a general feeling of confidence made itself apparent on all sides. The unexpected closing of the Firet National produced a short run on the Farmers and Merchants which, however, was of very short duration and soon subsided. President J. M. Elliott told a HERALD reporter late yesterday afternoon that "when this thing commenced we had over $800,000 cash on hand and with our correspondents subject to check at sight, and we considered ourselves, from the class of paper we held, in most excellent condition. "The unprecedented run of the past two days, during which we paid checks of over $600,000, was more than we could stand, with part of our resources necessarily acattered in the mails and deposited in eastern us on 'The law only requires and northern to have banks. hand and with our reserve agents 15 per cent of our deposits, whereas we had 43 ercent, and a great many notes falling due within the present month. "Of course if a bank merely receives its deposits and lays them up in its vaulte it is absolutely of no use to the community, and in that case it cannot handle the money of its depositors without a heavy charge to them for exchange and other matters which this bank especially has been very liberal in. 'The amount of liabilities to depositors will be somewhere in the vicinity of $1,250,000, against which we have all our bills receivable, capital and surplus, which will amount in the aggregate to nearly $500,000 more than this sum. In addition to this our stockholders are largely persons of wealth, and one lady, who is a stockholder, offered to pledge her whole personal fortune, amounting to more than $250,000, to the depositors, at a late hour in the run of yeaterday. "The county funds are held by a deputy county treasurer, and are in no way involved in the closure of the bank. "Our directors are at present in session," said be, "trying to make arrangements 80 as to re-open within a day or two. 'We have plenty of money on its way to us and all we need is a short extension of time. So many kind offers have been made the bank by its depositors since the doore closed that we feel we will soon be on our feet again, and be

9. June 22, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 22, 1893

Click image to open full size in new tab

Article Text

of the First National was to the effect that owing to the heavy run upon the bank amounting to over $60,000, the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the State bank, the City and University, which suspended yesterday. Mr. Gerberding says from a cursory examination of the University bank made last night he found that the bank owes $14,000 and has $30,000 assets. Gerberding says idiotic would not be too strong a term to apply to the senseless run on the banks here now, as they were never in better condition. Promptly at 10 o'clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along Curb street and extending north on Spring street for over 100 feet, were on hand under police escort, to take turns in entering the bank. Just before the iron gates swung open, Major Bonebrake appeared on the steps bareheaded as he

10. June 23, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 23, 1893

Click image to open full size in new tab

Article Text

LOS ANGELES TROUBLE. During the Crisis $8,000,000 Was Withdrawn from the Banks. Los ANGELES, Cal., June 22.-The financial situation is more encouraging, $250,000 in coin was received yesterday after business hours and the Farmers' and Merchants' bank this morning reeived $250,000 more, opening its doors with over $1,000,000 in its vaults, which as believed to be more than enough to meet all demands. It is estimated that $8,000,000 was withdrawn from the banks during the crisis. So far there has been no mercantile failures. Everything was quiet and peaceful in banking circles all of today. There was but a slight run on the Los Angeles National bank as the line of depositors was greater than that of the withdrawers, and there was quiet at all the other banks. Confidence is restored and a good many people who withdrew funds have deposited them. All banks received large sums of money, and even the six closed banks received some. President Elliott of the First National bank made a statement in which he said that the bank would resume business as soon as the bank examiner arrived and gave his sanction. It is expected that the other banks will soon resume except, possibly, the City bank which is in the hands of a receiver.

11. June 26, 1893 The Herald Los Angeles, CA
Article from The Herald, June 26, 1893

Click image to open full size in new tab

Article Text

A THING OF THE PAST. NOTHING LEFT OF THE PANIC BUT REMINDERS. This Week will See Several Suspended Banks Reopened--The Northern Press and the bonds of the Consolidated Electric. probable that today or tomorrow the second of the suspended banks to resume will be the Broadway though the University is likely to run it a close race on getting its doors open again. Judge Widney on Saturday succeeded in making his bank stronger than it had been before the crash. The First National is morally certain to be open in a few days and it is learned will be 80 strengthened in both its capital and stockholders as to be one of the most formidable institutions in Southern California, President Breed of the Southern California has things well in hand for resumption and all in all the situation is pleasant and every prospect pleases. REMINISCENCES OF THE RUN. A few reminders of the craze are yet to be seen. Nearly all of the merchants have placards posted in their windows to the effect that they will take checks on any bank in payment of accounts. An enterprising barber has put out a similar sign and people can pay for their shaves with checks on the First Na. tional, University or City bank. A saloon man on Spring street diaplays this sign: "Despite the run on us we are still open. The hotter the times the cooler the drinks." THE CONSOLIDATED RAILWAY. The San Franciaco papers have, during the recent panic, shown again the animosity which seema to prevail in the north against Southern California institutions. In view of the fact that the Pacific bank which closed last week in San Francisco held some bonds of the consolidated system of street railways of Los Angeles, the papers there have taken occasion to deery the value of these lines. As far as this vast property goes itisall right, and more than that can bear comparison with the San Francisco lines in 8 most satisfactory way in fact if it comes to a show-down, it is doubtful if San Francisco capitalists would enjoy a thorough showing up of the condition of their roads. In these times a backhanded slap at any important institution of Los Angeles is a proper subject for inquiry. A HERALD reporter yesterday found Superintendent Aiken of the cable railway who has been with the company six or eight years and Receiver Trask justly indignant at the aspersion on the bonde in question, which, whilenot yet technically covering both the cable and electric systems will do so, and by agreement of all parties concerned do so now. As an indication of how things have been scaled down and the satisfactory condition of the affairs of these lines a few figures may not be amiss. When Mr. Holmes of Chicago took "the street railways of this city some years ago there were only about 20 miles of track. He succeeded in a short time in floating bonds on this system to the amount of $3,640,000, and added a floating debt of $1,000,000. making the entire liabilities $4,640,000. At the present time the system, virtually consisting of all the cable and all the electric, and nearly all the horse-car lines, has only a bonded indebtedness of $3,000,000, on a mileage, including horsecar lines, of 110 miles, and with earnings three times what they were in Mr. Holmes' day. As stated, these bonda about which the northern press has had

12. June 27, 1893 The Herald Los Angeles, CA
Article from The Herald, June 27, 1893

Click image to open full size in new tab

Article Text

ALL DOING WELL. THE SUSPENDED BANKS GETTING READY FOR BUSINESS. The First National to Be ReorganizedThe University to Reopen this Week-The Southern California Only Waiting for the Word. The suspended banks are all busy preparatory for business. At the First National yesterday no definite statement could be obtained as to its plans further than that the bank would be reorganized, and that when it did open it would be stronger than before. THE UNIVERSITY. President Widney of the University bank yesterday etated to a HERALD re. porter that his bank would reopen some day this week, and gave out the following correspondence: To Hon. W. H.H. Hart, Attorney-General: DEAR SIR: In compliance with the law we beg leave to report that we have examined the affairs of the University bank of Los Angeles and submit the following: $132 905 90 Amountdue depositors Amount due banks 7,890 63 $140,796 53 The bank has solvent aasets equal to double this amount, and in addition thereto the directors have transferred to the bank, in trust for the depositore, real estate valued at double the amount due creditore. We therefore recommend that the University bank be permitted to resume business as soon as possible. Yours respectfully, A. GERBERDING C.H. DUNSMOOR, Bank Com's. To the University Bank of Los Angeles: GENTLEMEN: In view of the above report, and concurring with the commissioners therein, I direct that said bank may resume business on its obtaining sufficient money, in your judgment, to meet the demands of depositors in the ordinary course of business. WM. H. H. HART, Yours truly, Attorney-General. "We will open some day this week," said Judge Widney, "as soon as we have cash enough on hand. There is no bank in the state that can make the showing we do of four dollars to one in assets, and when we open any depositor who tries to draw his money out from feelings of insecurity cught to be drummed out of the city.' " THE SOUTHERN CALIFORNIA. The officials of this bank were all happy yesterday. They said that they were ready to reaume just as soon as permission is received from the comptroller of the currency, which would unquestionably be given inside of a week or 10 days. BROADWAY BANK. The state bank commissioners, C. H. Dunemoor and A. Gerbarding, made the following statement to Attorney-General Hart yesterday: Upon examination of the Broadway bank, we beg to advise you that the total amount due depositors is $22,400, and the total of assets is $60,000. This bank has arranged with its depositore to defer payment upon all but $3000, and we recommend that it be permitted to resume business at the earliest opportunity. Attorney-General Hart replied as followe: "I have examined the report of the bank commissioners herewith handed to you in reference to the present condition of your bank, and I agree with the commissioners in the conclusions reached by them. and direct that you open immediately for business.

13. June 29, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, June 29, 1893

Click image to open full size in new tab

Article Text

WEST AND SOUTH. IOWA republicans will hold their state convention at Des Moines August 15. IN the state of Washington ten government inspectors were detected in aiding in smuggling in Chinese by means of fraudulent certificates and in permitting opium smuggling either by connivance or otherwise. IN Chicago the American Railway union, a new society to embrace every branch of the service, was organized with Eugene V. Debbs, of Terre Haute, Ind., as president. BURGLARS murdered Thomas Cordway and his sister at their home near Logansport, La. FOUR negroes were killed and many others wounded in a row at an emancipation day celebration at Flat Prairie, Tex. THE West Virginia building on the world's fair grounds was dedicated, the day being the thirtieth anniversary of the birth of the state. AT the Cheyenne agency in Montana enlisted Indians had a fight with other Indians and five of the latter were killed. THROUGHOUT North and South Carolina and Georgia an earthquake shock was felt. AN edict issued by the school commissioners dismissed all married teachers in the public schools in St. Louis. THE doors of the University bank and City savings bank at Los Angeles, Cal., were closed. ATJanesville, Wis., Charles P. Whalen was sentenced to twenty-five years' imprisonment for the murder of Gerald Spaulding. A CIRCUS tent was struck by lightning at River Falls, Wis., and seven persons were killed and thirty injured. SEVERAL exhibiters at the world's fair met and recorded themselves as being unalterably opposed to the opening of the gates on Sunday, not only on moral grounds but from a financial standpoint as well, and decided to enter suit for an injunction to have the gates closed on Sunday. AT a railway crossing near Lima, O., Charles Keller and his wife and John Steinbaugh were killed by the cars. AT his home in Menlo Park Leland Stanford, United States senator from California, died suddenly in his 70th year. Heart disease was the cause. He leaves a wife and property valued at $50,000,000. NEAR Winimae, Ind., Charles Mettonay and his horse and forty head of cattle were buried out of sight in quicksand. THE doors of the Citizens' savings bank of Portsmouth, O., were closed, with liabilities of $300,000. THE firm of Sloan. Johnson & Co., wholesale grocers at Omaha, Neb., failed for $160,000. IN Los Angeles, Cal., the First national, Southern California, Broadway bank and East Side bank closed their doors, and at San Diego the Consolidated national bank and the Savings bank suspended. A CYCLONE at Williamstown and the surrounding country in Jefferson county, Kan., killed twenty persons and destroyed thirty houses and many barns. IN Chicago Baird & Bradley, real es tate dealers, made a voluntary assign-. ment with assets estimated at $600,000 and liabilities at $400,000. METHODISTS have decided not to withdraw their world's fair exhibit on account of Sunday opening, but it will be covered up on the Sabbath. The church committee adopted resolutions in which they declare that the act of the directory in turning aside from keeping its pledge of honor to the congress and people of the United States will be conspicuous in the future as an act of perfidy beclouding the business integrity of the citizens of Chicago which years of shame will not remove.

14. June 29, 1893 The News-Herald Hillsboro, OH
Article from The News-Herald, June 29, 1893

Click image to open full size in new tab

Article Text

NEWS ITEMS. The Columbus caravels, en route to Chicago, will stop at Cleveland, O. Two deaths from cholera occurred at Calais Thursday, and the disease is still spreading. The Ellsworth Packing and Provision Co., of Chicago, made an assignment Wednesday. Louis Dreyfus, wealthy merchant of Long Branch, N. J., killed himself while on a spree. The Delaware, (0.), hazers refuse to pay attorneys' fees, and will now be arrested and the old case revived. Cholera reports from Mecca show that from June 16 to June 20 there were 830 deaths from cholera in that city. The race for the Seaton Delaval plate of 1,200 sovereigns at London, was won by Chinchin, Sir Jacob second, Guiser third. The Peruvian government has fined the Peruvian corporation £5,000 for non-compliance with the terms of the contract. Mrs. Mary Brainard, a poor widow of Michigan City, Ind., has just fallen heir to $50,000, left by a bachelor brother at Cleveland, O. Ecuador has sent to Lord Rosebery a formal protest against the further encroachment by the British on Venezuelan territory. Mrs. Annie Teagarden suicided with morphine at Indianapolis through grief for the death of her mother: and brother within two weeks. Gen. Crespo has formally assumed the presidency of Venezuela under the constitution. The assembly named him for the short term Dr. R. P. Gordon, of Hebron, Ky., who was jolted out of a cable car in the La Salle street tunnel, Chicago, while asleep, died of his injuries Cholera is decreasing HApidly throughout Russia. In Bessarabia, Podila, Kurs ka and Orel only an occasional death and a few fresh cases are now reported. Four banks at Los Angeles, Cal., closed their doors Wednesday. They were the First national, Southern California, Broadway bank and East Side bank. The as used by Wm. E. Gladstone in trees on his estate of will on felling be placed exhibition Hawarden within in the Forestry building, World's fair, a few days. The First National bank at Kendallville, Ind., has been forced to close its doors. It was regarded as one of the soundest banking institutions in northern Indiana. Superintendent of Schools Strauss, of W. Va., clared innocent of the Parkersburg, charge has been brought deA.C. Stephenson causing her death by severe by daughter's Mrs. of and sarcastic comment Friday morning at Griffith, on the & Erie, a young man named to board a Chicago Weeks attempted fell moving under train at Valparaiso, Ind., and the wheels Both legs were cut off above the knees. The Russian press censorship has forbidden the Russian press to discuss the Franco-Russian commercial treaty just on the ground a commercial compact concluded, purely that and it with- is out significance. Woodman, Miss political Phoebe the married favorite of Poet Whittier, was at Mass., Thursday to the artist. The Calliga, niece Danvers, couple Mr. did J. not H. meet until last winter. and it was a case of love at first sight. Charles Roeser, jr., of Wisconsin, chief topographer of the post office department died in Washington Friday of He was of served in the war in age night and apoplexy. the 49 Thomas. commis- years sary department, under Gen. The Citizen's Savings bank, of Portsmouth, O., assigned Wednesday morning to A. F. Holcomb and Frank M. Smith. A run on the bank made this step necessary. The liabilities are something over $300,000, and assets over $400,000. Alarming reports have come from farmers throughout Bartholome and counties in of the Hessian fly in In ravages adjoining Indiana wheat. of the many fields it has been found that one stock in every six has been attacked by the fly. The national association of swine breeders, in session at DesMoines, Ia., by the election has Dawson, organized president; of H.C. of Nebraska, for of vice president, A. J. Seagraves, Indiana; secretary and treasurer, Wm. McFadden, of Iowa.

15. June 30, 1893 The Times Owosso, MI
Article from The Times, June 30, 1893

Click image to open full size in new tab

Article Text

ENLISTED Thaians nau a light WITH other Indians at the Chevenne agency in Montana and five of the latter were killed. ROBERT E. PHILLIPS and Arthur Mead, prominent members of the were Boston chamber of commerce, drowned by the upsetting of a boat. FISHER BROTHERS, cloak manufacturers in New York, failed for $150,000. felt AN earthquake shock was throughout North and South Carolina and Georgia. BY edict issued by the school commissioners all married teachers in the public schools in St. Louis have been dismissed. FOUR persons were burned to death in a fire that destroyed the Bunnel block in Duluth, Minn. FOUR banks closed their doors in Los Angeles, Cal. They were the First national. Southern California, Broadway bank and East side bank. At San Diego the Consolidated national bank and the Savings bank suspended. THE collections of internal revenue for the eleven months of the current fiscal year amounted to $145,682,390, an increase over the corresponding period of the last fiscal year of $7,457,403. FRANCIS SPIES, vice consul for Honcommitted suicide in New York. Utah Clothing duras, THE Manufacturing failed for company at Salt Lake City $100,000. CYCLONE that passed through Williamstown and the surrounding counin Jefferson county, Kan., killed try twenty persons and destroyed thirty houses and many barns. THE Duryea Portland Cement company's cement plant near Montezuma, loss N. Y., was destroyed by fire, the being $125,000. SLOAN, JOHNSON & Co., wholesale grocers at Omaha, Neb., have failed for $160,000. THE Citizens' savings bank of Portsmouth, O., closed its doors, with liabilities of $300,000. CHARLES R. METTONAY and his horse nd forty h ead of cattle were buried out of sight in quicksand near Winimac, Ind. A CYCLONE passed through Adair county, Ia., and Lake Contrary and Conception, Mo. At the latter point three persons were killed and great damage was done. C. CRANE & Co., Cincinnati lumber dealers, failed for $150,000. FRED L. KENT, cashier of the First national bank of Ellsworth, Me., was said to be a defaulter in the sum of $19,000. struck a circus tent at Wis., and seven River LIGHTNING Falls, persons were killed and thirty injured. JOHN HARRISON and wife, of Leadville, Col., drew $1,500, their savings of years, from the bank, and the money was stolen the same day. CHARLES KELLER and his wife and John Steinbaugh were killed by the cars at a railway crossing near Lima, O. THE national convention of Women's Amateur Musical clubs met in Chicago. NEAR Phalanx, O., Preston Osborn, his wife and two of their children and a man named Heintzslman were fatally poisoned by some ingredient that had afbeen mixed with their coffee. The fair was shrouded in mystery. CHARLES P. WHALEN was sentenced at Janesville, Wis., to twenty-five years imprisonment for the murder of Gerald Spaulding. A NUMBER of exhibiters at the world's fair met and recorded themselves as being unalterably opposed to the opening of the world's fair gates on Sunday, not only on moral grounds but from a financial standpoint as well, and decided to enter suit for an injunction to have the gates closed on Sunday. THE Methodists have decided not to withdraw their world's fair exhibit on account of Sunday opening, but it The will be covered up on the Sabbath. church committee adopted resolutions in declare that the act of the in turning its of honor to keeping which directory they pledge aside the States from conand people of the United will in the as an gress be conspicuous future business act of perfidy beclouding the of the citizens of Chicago of shame will not which integrity years killed remove. by FIVE men were instantly an explosion of gas in a mine at Nanticoke, Pa. THE Columbia liberty bell, the tribute to the shrine of will in Chicago for of which many ring independence, the first time July 4, was successfully cast at the Clinton & Meneely bell foundry in Troy, N.Y. BAIRD & BRADLEY, real estate dealers in Chicago, made a voluntary assignment with assets estimated at $600, 000 and liabilities at $400,000. SUPERIOR JUDGE GRANT decided in favor of Sacramento and against San Jose in the California capital removal case. FOREST fires in the western part of Pueblo, Col., were doing enormous damage. BANKS closed their doors at Santa Anna, Cal., San Diego, Cal., Pomona Cal., Ontario, Cal., Greenville, Mich and Ridgeway, Me. JACOB HAJANEKI, of Akron, O., fatal ly shot his wife and then stabbed him self fatally. No cause was known. THREE men who were put in jail the evening before a fire at Virginia, Minn. were burned to death. armored THE big cruiser nearly Maine, four which has been building for years at the Brooklyn navy yard, was

16. July 4, 1893 The Herald Los Angeles, CA
Article from The Herald, July 4, 1893

Click image to open full size in new tab

Article Text

THE SUSPENDED BANKS. The Commercial Organizations to Endorse Their Solvent Condition. Owing to some technicality the two national banks, the Southern California and First, have not as yet received their commissions from Washington, although they are in good condition and pretty near ready to open. Special meetings of the directors of the chamber of commerce and board of trade have been called for tomorrow to take action in regard to the situation and write to the authorities at Washington to allow these two institutions to open their doors at an early date. The intention of the meetings, also, is to show that full and perfect confidence is felt in the banks, and that they have the support of the commercial interests of the city.

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

Click image to open full size in new tab

Article Text

THE BANKS WILL OPEN. a MISLEADING TIMES STATEMENT FULLY CONTRADIOTED Comptroller of the Currency Kohles Has Not Expressed an Unfavorable Opinion-No R. ceiver for the First National. The HERALD was "ecooped" yesterd on a very important piece of new by the Times, the only trouble about ch ilio "news" being that it was ottrud. latter journal printed a local article headed to the effect that Comptrolier the Currency Eckela had written a 100ter to some person unnamed in this city, which letter was received on Monday. stating that he would deny permission to the suspended national banks to open, unlees a sufficient number of de positors indicated a willingness for the institutions to resume. The article produced a decided EPOHA tion, and if yesterday had been a busi nees day, another wild panic might have resulted from its alarming tone but fortunately for all parties appear that, according to the statements of officere of the banks, and other gentlemen referred to, there is not a eingle word of truth to it. THE SOUTHERN CALIFORNIA BANK The article commences with the fol lowing statement A letter was received yesterday from Hon.J./. Eckles, comptroller of the currency, in which that official declines to archorized the reopening of the Souther California bank, unless a sufficient number of customers and depositors indicate their willingness to have the bank continue business. "Immediately on receipt of this letter the following petition was prepared and circulated among those who are on the bank's ledger as customers, and was very generally signed "Los ANGELES, July 3, 1893. "To the Hon. J. H. Eckles, Controller of the Currency, Washington, D. O.Sir: We, the undersigned, being customers and depositors of the Southern California bank of Los Angeles, having perfect confidence in said bank and its management, and being perfectly eatisfied its temporary suspension was not on account of mismanagement, and our confidence not having been shaken by its temporary supension, we hereby express our willingness to continue business with said bank, and hereby respectfully request that you grant permission for it's speedy reopening. 'When completed, the petition will be transmitted by telegraph to the comptroller of the currency by Senator White, with a statement as to the names attached to the document. With reference to this newturn of affairs, it has been explained that this is but a part of the red tape now in vogue in the comptroller's office. Mr. Ecklee has been known to express himself as opposed to the reopening of suspended national banks, unless upon the strongs th showing, and the urgent demand of depositors. In regard to the Southern California National bank, it is now strongertati ever, and has been ready and anxious to reopen for several days, only awaiting the permission of the comptroller. In putting itself in its present strong position to resume payment the bank makes the proud boast that it has not called upon single patron to pay his account, unless overdue.' A HERALD reporter at once, on reading the above, called on Mr. Bosbyshell, of the bank, and asked him about the matter. "You may say," he answered, "that we have not even had a hint from Mr. Eckles or ny other official that we will not be permitted to resume. In fact there is overy reason to believe that we will be allowed to open our doors at an early date. The comptroller has not denied permission to resume, nor is such a thing possible, as he could not have received Examiner Wightman's report until yesterday, and, furthermore, he has not been asked to let us reopen. We make no request of the comptroller. The whole matter is treated through the examiner's report, and only that way. The latter part of the article's reference to us is correct, we are all ready toopen, and have more than enough cash on hand to meet any possible demand. "The assertion that we were compelled to get the depositors to sign the petition to the comptroller referred to is also without foundation. It was our own idea and was not ordered from Washington. "I have no right to speak for Examiner Wightman and his report, but feel justified in saying that it will be strongly in favor of our immediate reopening. as there is no reason in the world why it should not be.' THE FIRST NATIONAL. The Times' article then goes on to say "It was ascertained yesterday that for several days there has been a movement on foot looking to the appointment of a receiver for the First National bank, and that John E. Plater of the Bank of America was being urged for the place; in fact, that strong letters had been sent to the comptroller of the currency, recommending his appointment to the position in case such a step became necessary. The bank has applied for permission to reopen, which been refused, except under the same conditions as those imposed on the Southern California.' Mr. Plater, when seen a said: to ship HERALD would has been reporter, offered me, yesterday 'No and member- think by I know of it if such 8 thing were contemnlated

18. July 7, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 7, 1893

Click image to open full size in new tab

Article Text

National Banks are Reopening. WASHINGTON, D. C., July 6.-The Comptroller of the Currency is informed that the First National Bank of Los Angeles, Cal., and the Southern California Bank of the same place, which suspended recently, will open their doors for business again within & few days. Comptroller Eckies is adopting precautions in all cases where suspended banks apply for permission to resume to make sure that the banks are put on an absolutely sound basis before the request is granted, in order to guard against a second suspension within a short time. The Comptroller is informed that the First National Bank of San Diego, California, which reopened for business yesterday, received deposits to the amount of $250,000, as against withdrawals to the amount of $3,000. This is regarded as an evidence of returning confidence. The Washington National Bank of Spokane, reopened for business this morning.

19. July 7, 1893 The Herald Los Angeles, CA
Article from The Herald, July 7, 1893

Click image to open full size in new tab

Article Text

ties of the Fourth, the Times has been trying to lie itself into line again. It has half admitted its roorbacks and without contrition desires again to stand in line with a community which it has tried to wreck. There is a difference between the Times as a liar and the celebrated Baron Munchausen, and it is altogether in favor of the Baron. That distinguished nobleman sometimes told stories that were not within the lines of ordinary probability. But when, observing the countenances of his auditors, he saw some signs of incredulity, he always placed his hand on the hilt of his sword, with the remark that he had been very careful to keep his narratives within the bounds of truth, and if any gentleman doubted his statements he was ready to fight him at any time or place, or with any weapons. Our esteemed contemporary differs from Baron Munchausen in every respect, and most remarkably in that it has swallowed the receivership story for the First National bank, and has practically admitted that it told a lie when it said that the Controller of the Currency, in advance of the receipt of Examiner Wightman's report, insisted that the depositors of the Southern California should unite in a petition for the resumption of that bank. Having eaten its leek, and laboriously denied everything that it asserted, we suppose that we can leave our esteemed contemporary to the universal contempt of a community which it has unsuccessfully tried to wreck.

20. July 11, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 11, 1893

Click image to open full size in new tab

Article Text

OPENED THEIR DOORS. Two of the Suspended Los Angeles Banks Resume Business. Los ANGELES, July 10.-The Southern California National Bank and the University Bank opened their doors this morning. It was expected that the Southern California Bank would open, but the opening of the University Bank was something of a surprise, though they were in condition to open several days ago. The First National Bank is still closed and is only waiting for orders from Comptroller Eckels to follow the example of the Southern California. Only two banks now remain closed of the six that closed two weeks ago. The City Bank is in the hands of the receiver and will not reopen. The First National Bank felt the rush the worst, having nearly a million dollars withdrawn. But the First National has many wealthy stockholders and friends and will be in its old-time vigor as soon as it opens.

21. July 16, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 16, 1893

Click image to open full size in new tab

Article Text

Leys, The Jeweler, OWSLEY BLOCK. PEOPLE AND PLACES. CHICAGO. July 15.-There were six deaths from sunstroke in this city yesterday and a dosen serious cases of prostration. Two deaths from sunstroke so far to-day. WASHINGTON. July 15.-It is announced this morning that the treasury yesterday bought 110,000 ounces of silver at 721/3. The amount offered was not made public. The total purchases this month are 868,000 ounces. Los ANGELES, Cal., July 15.-The First National bank opened to-day. The deposits exceeded the withdrawals by about $225,000. All those who hold checks against the bank deposited them instead of drawing the money. CINCINNATI, July 15.-On application of the stockholders a receiver has been an pointed. for the John Kaufman brewery, owing to the inability to raise $60,000 fall. ing due on Aug. 1. It is claimed that the assets are $600,000, and the liabilities $150,000. VALETTA, July 15.-The British battleship Inflexible has been ordered to proceed immediately to Alexandria, Egypt. The reason for the hurried order is not definitely known, but It is rumored to be owing to the disturbances which have broken out in Alexandria. NEW YORK, July 15.-The sub-treasury to-day paid into the clearing house in settlement of its balances, $500,000 in gold coin. This is the first time that this has been done since 1892. Silver was weaker at the stock exchange, certificates declining to 73. Commercial bar silver, however, advanced to 721/4. SAN FRANCISCO, July Native advices from Canton report a serious conflict with pirates in Chinese waters on May 30. Three gunboats, escorting two merchant junks to Cauton. were attacked by 600 pirates and, after a desperate fight in which 60 of the government men were killed, the pirates got away with the booty. INDIANAPOLIS, Ind., July 15.-The Baptist Young People's convention continued to-day with swelteringly hot weather. The forenoon session was devoted to the reports of committees on miscellaneous business. followed by all open parliament on the subject of "Conquest Meeting" and a mass workers conference. PORTLAND, Ore., July 15. -William Dunbar. manager of the Merchants Transportation company, was arrested to-day on an indictment for smuggling opium into the United States. He was afterwards released under $5,000 bonds. The indictment contains five counts. SAN FRANCISCO, July 15.-A meeting of prominent silver men of the state was held last night. Resolutions were adopted favoring the restoration of silver to the position it occupied as money previous to the demonetization of 1873. Another meeting will be held next week for the purpose of electing delegates to the silver convention at Chicago.

22. July 21, 1893 The Iola Register Iola, KS
Article from The Iola Register, July 21, 1893

Click image to open full size in new tab

Article Text

THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. A STATEMENT shows that the net gold in the treasury at the end of June, last, was $95,485,413, which was more than the total at the end of either of the two months preceding. In the ten days from June 30 to July 10, the gold holdings increased from $95,485,413, to $97,286,677, and the tables show a slow, but steady increase from June 10 last, when the net gold stood at $90,722,958, the lowest point touched in many years. CONGRESSMAN WILSON, of West Virginia, gives it as his opinion that there will be no recess after congress meets in extra session. THE wife of ex-Senator Conger died recently in Washington, where Mr. Conger has been residing since his retirement from the senate. POSTMASTER-GENERAL BISSELL has decided to do away with the different sizes of postal cards and to have them of uniform size in future. SECRETARY HERBERT has accepted the resignation, because of ill health, of Com. Wilson, as chief constructor of the navy, and appointed Constructor Philip Hichborn to succeed him. THE comptroller of the currency has issued a call for a report on the condition of national banks at the close of business July 12. This, the comptroller says, is one of the regular five annual calls. IT is practically certain that the president will be allowed to dictate who shall be chairman of the ways and means committee and that it will not be Springer. PRELIMINARY work to the opening of the Cherokee strip is well under way. THE gold reserve in the treasury has 1 increased $206,000 and now stands at $98,093,141. But on the other hand the TO currency has decreased from $27,353,881 to $26,904,780 in the same time. t THE chief of the bureau of statistics 1 reports that the total value of the exports of beef and hog products from the United States during the month of I June, 1893, was $10,098,837. he POSTMASTER-GENERAL BISSELL has decided to abandon three sizes of the f postal cards now in use. REPRESENTATIVE FITHIAN will intro0 duce his free ship bill again at the next session of congress. f TWENTY-FIVE hundred pensioners o have already been suspended since Hoke Smith's famous order went into r effect. J SECRETARY HERBERT has authorized a the preliminary acceptance of the n cruiser Detroit. V COMPTROLLER OF THE CURRENCY c ECKELS has authorized the First nao tional bank of Los Angeles, Cal., the National Bank of Commerce, of Provo, t U.T., and the Second national bank, of N Ashland, Ky., to resume business. All en these banks have resumed with plenty of morley, none of which was bort rowed, but obtained by the collection C of amounts due on notes or supplied by k the directors. t

23. July 21, 1893 The Kinsley Graphic Kinsley, KS
Article from The Kinsley Graphic, July 21, 1893

Click image to open full size in new tab

Article Text

THE WORLD AT LARGE. Summary of the Daily News WASHINGTON NOTES. POSTMASTER-GENERAL BISSELL has decided to do away with the different sizes of postal cards and to have them of uniform size in future. SECRETARY HERBERT has accepted the resignation, because of ill health, of Com. Wilson, as chief constructor of the navy, and appointed Constructor Philip Hichborn to succeed him. THE comptroller of the currency has issued a call for a report on the condition of national banks at the close of business July 12. This, the comptroller says, is one of the regular five annual calls. IT is practically certain that the president will be allowed to dictate who shall be chairman of the ways and means commfittee and that it will not be Springer. PRELIMINARY work to the opening of the Cherokee strip is well under way. THE gold reserve in the treasury has increased $206,000 and now stands at $98,093,141. But on the other hand the currency has decreased from $27,353,881 to $26,904,780 in the same time. THE chief of the bureau of statistics reports that the total value of the exports of beef and hog products from the United States during the month of June, 1893, was $10,098,837. POSTMASTER-GENERAL BISSELL has decided to abandon three sizes of the postal cards now in use. REPRESENTATIVE FITHIAN will introduce his free ship bill again at the next session of congress. TWENTY-FIVE hundred pensioners have already been suspended since Hoke Smith's famous order went into effect. SECRETARY HERBERT has authorized the preliminary acceptance of the cruiser Detroit. COMPTROLLER OF THE CURRENCY ECKELS has authorized the First national bank of Los Angeles, Cal., the National Bank of Commerce, of Provo, U.T., and the Second national bank, of Ashland, Ky., to resume business. All these banks have resumed with plenty of money, none of which was borrowed, but obtained by the collection of amounts due on notes or supplied by the directors. SPECIAL INSPECTOR SWINFORD declares that the Cherokee strip will be opened to settlement not later than September 10. SENATOR TELLER, of Colorado, declares that it is the veriest rot to ascribe the present financial stringency to the workings of the Sherman law. THERE is a fund of $13,000,000, amassed by sales of cotton seized during the late war, lying idle at Washington. AN order has been issued by the war department increasing the number of honor graduates from the Leavenworth military school from three to five.

24. July 29, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 29, 1893

Click image to open full size in new tab

Article Text

It is to be observed that in twenty-one States and Territories there have been no !ailures of National banks, viz: In Alaska, Arizona. Arkansas, Connecticut. Delaware, District of Columbia, Idabo, Indian Territory, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New-Jersey, Pennsylvania. Rhode Island, South Carolina, Vermont, Virginia and West Virginia. It is further worthy of note that no National banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, Buffalo, Cincinnati. St. Louis, New-Orleans, San Francisco, Minneapolis, St. Pan! and numbers of other great commercial centres: and that but one has closed in New-York, two in Chicago. and one In Milwankee. The cause of the failures in NewYork and Chicago was due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks failed were robbed by officials who are now under arrest. The following National banks have been authorIzed by the Controller of the Currency to resume business: Gate City National Bank, Atlanta, Ga.: First National Bank. Los Angeles, Cal.: First National Bank, San Diego, Cal.: First National Bank, Santa Ana, Cal.: First National Bank, San Bernardino, Cal.: Southern California National Bank, Los Angeles, Cal.: Merchants' National Bank. Fort Worth, Tex.: Second National Bank, Ashland, Ky.: Capital National Bank, Indianapolis.: First National Bank, Palouse City, Wash.: Washington National Bank, Spokane Falls, Wash.: National Bank of Commerce. Provo City, Utab: First National Bank. Cisco, Texas: Missouri National Bank, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent, and only closed through an unwarranted lack of confidence in them, causing disastrous runs. Resume: Number now in operation, 3,785: number failed since January 1, 1893. 105; number reopened, 14: number In hands of receivers, 33: number In hands of Bank Examiners, with application to Controller for resumption, 58.