gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
71cf2245243267a0
Response Measures
None
Description
Bank suspended in July 1893, resumed May 1894 under 10% quarterly agreement, then failed to open Nov 20, 1894 and went into liquidation.
Events (6)
1.July 27, 1893Run
Cause
Macro News
Cause Details
Financial panic of July 1893 triggered runs on Portland banks, including Portland Savings Bank.
Measures
Bank closed (suspended) and receiver appointed subsequently.
Newspaper Excerpt
With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.
Source
newspapers
2.July 27, 1893Suspension
Cause
Macro News
Cause Details
Closure occurred during the nationwide financial panic of 1893; receiver D. P. Thompson appointed.
Newspaper Excerpt
it was during the panic of 1893, on July 27, that the bank first closed its doors. Mr. D. P. Thompson was appointed receiver
Source
newspapers
3.May 1, 1894Reopening
Newspaper Excerpt
the bank resumed business May, 1 of this year, under an agreement with the majority of the depositors that they were to draw out, quarterly, ten per cent of their deposits, and no more.
Source
newspapers
4.November 20, 1894Receivership
Newspaper Excerpt
O. N. Denny has been appointed receiver, and the bank will go into liquidation.
Source
newspapers
5.November 20, 1894Run
Cause
Bank Specific Adverse Info
Cause Details
Persistent withdrawals and loss of confidence (partly attributed to death of president Frank Dekum) precipitated the run/withdrawals.
Measures
Some dividends had been paid earlier under extension agreements; court-ordered dividends and attempted reorganizations preceded final closure.
Newspaper Excerpt
The lack of public confidence and unremitting withdrawals of deposits are given as the reason for the closing of the bank.
Source
newspapers
6.November 20, 1894Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure to open due to withdrawals and loss of public confidence following resumed operations and recent death of the president.
Newspaper Excerpt
The Portland Savings bank failed to open its doors this morning... O. N. Denny has been appointed receiver, and the bank will go into liquidation.
Source
newspapers
Newspaper Articles (22)
1.July 29, 1893Deseret Evening NewsSalt Lake City, UT
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TODAY'S FAILURES. One of the Oldest Firms in the Country. HAMILTON, Ohio, July 29.-McNeal & Urban, safe an 1 lock company, one ofthe oldest safe firms in the country assigned. The assets are $160,000; liabilitiesure unknown. The firm claims to be solvent. AKRON, O., July 29.-The Citizens' Savings and Loan association failed this morning. It will pay in full. The capital is $100,000 and the surplus $80,000. KANKAKEE, Ills., July 29.-The First National bank failed this moruing. The assets are sufficient to pay the depositors in full. PORTLAND, Ogn., July 29.-The Commercial National, Portland Savings bank and the Alnsworth National bank failed this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.
2.August 17, 1893The HeraldLos Angeles, CA
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EXCITED DEPOSITORS. Crookedness in Connection With the Portland Savings Bank. PORTLAND, Ore., Aug. 16.-A petition ie being circulated among the depositors of the suspended Portland Savings bank for the removal of D. P. Thompson as receiver, and the appointment of practical disinterested man." Thompson WRS vice-president of the bank. Much excitement has been occasioned among the depositors by the statement that the bank held notes dated the day before the bank closed, aggregating $50,000, against officers and employee of the bank, and President Dekum's sons. Cashier Stratton today said: "The amounts called for in these notes were not borrowed from the bank on the dates mentioned (July 27th and 28th) but they were morely renewed on those dates. The makers in each instance had paid up the interest to date, had the old notes cancelled and new notes made." According to Cashier Stratton's statement no money was drawn from the bank by those persons on the dates above named.
3.August 17, 1893The Salt Lake HeraldSalt Lake City, UT
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WANT A RECEIVER REMOVED. Depositors of a Suspended Portland Savings Bank Object to a Receiver. PORTLAND, Or., Aug. 16.-A petition is being circulated among depositors of the suspended Portland Savings bank for the removal of D. P. Thompson as receiver and the appointment of a "practical disinterested man." Thompson was vice-president of the bank and since his appointment as receiver much dissatisfaction has been expressed by depositors. The receiver's statement filed a few days ago shows that the bank has $3,000,000 assets and $2,500,000 liabilities. A good portion of the assets, however, consists of mortgages on outside lands. The statement also shows that the bank holds notes aggregating $50,000 against officers and employees of the bank and President Dekums' four sons. These notes are dated on the day before the bank closed.
4.August 17, 1893The Seattle Post-IntelligencerSeattle, WA
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suspended Portland savings bank for the removal of D. P. Thompson as receiver and the appointment of "a practical, disinterested man." Thompson was vice president of the bank. Much excitement has been occasioned among the depositors by the statement that the bank held notes dated the day before the bank
5.August 19, 1893The Morning CallSan Francisco, CA
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PORTLAND BANKS. The Chamber of Commerce Looking Into Their Solvency. PORTLAND, Or., Aug. 18.-The committee of the Chamber of Commerce appointed a few days ago to examine into the affairs of the suspended national banks of this city to-day obtained permission from Comptroller Eckles to proceed. The securities will be examined and the committee will report on a plan which will lead to a speedy resumption by the banks. All the banks are having good success in making collections and manv depositors are signing agreements to wait a reasonable time for their money. President Delkum of the Portland Sav. ings Bank states that he is willing to put into legal form his guarantee that the depositors will be paid in full. The resignation of D. P. Thompson as receiver has not yet been accepted, and it is probable that the court will allow him to remain.
6.August 25, 1893Idaho County Free PressGrangeville, ID
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MORE BUSINESS FAILURES. Several Large Concernsin the East Forced to Assign. PITTSBURG, Aug. 17.-The Oliver Iron and Steel company, one of the heaviest concerns in the country, today went into the hands of a receiver. The capital of the company is $1,600,000, and the apparent indebtedness is $600,000. The bonded indebtedness is $585,000. First National Bank of Dubuque. DUBUQUE, Aug. 17.-The First National Bank, one of the oldest institutions in this city, with a capital of $200,000, euspended this morning. The last statement showed half a million dollars deposits. A Large Wagon Company Assigns. CINCINNATI. Aug. 17.-The Standard Wagon Co., the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. Assets, $120,000; liabilities, $700,000. Depositors Want a Piedge. PORTLAND, Aug. 17.-At a meeting of the depositors of the Portland Savings Bank, held this afternoon, a motion was adopted to appoint a committee of five to wait upon all the stockholders of the bank and ask them to pledge the depositors that they will receive their money in full. Receivers for the Northern Pacific. PORTLAND, Aug. 17.-In the United States circuit court today, W. H. Payne, T. F. Oakes and Henry Crouse were appointed receivers for the Northern Pacific in the State of Oregon. Their bonds were fixed at fifty thousand dollars. A Denver Bank Reopens. DENVER, Aug. 17.-The Bank of Commerce reopened today with almost a hundred per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st. Mr. Thompson Resigns. PORTLAND, Aug. 17.-It is reported this afternoon that David P. Thompson has resigned as receiver of the suspended Portland Savings bank. E. J. Northrup is mentioned as bis sucessor. How It Affects Exchange. LONDON, Aug. 17.-The action of the government in lowering the price of India council bills has caused a great awakening in exchange here today. A National Bank Resumes. DENVER, Aug. 17.-The American National Bank resumed business this morning.
7.August 25, 1893The Morning CallSan Francisco, CA
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financial stringency wave struck the country. Since the bank closed its doors it has been collecting in loans, etc., and this money will now be distributed among depositors. PORTLAND, Aug. 24.-About 700 depositors of the Portland Savings Bank held 8 meeting at the Marquam Theater to-night to devise some means of securing their money at the earliest possible time. A committee appointed at a former meeting submitted a report recommending that a new receiver be appointed to take charge of the affairs of the bank. The report was adopted, and ex-Senator H. W. Corbett was named as the choice of the meeting to be recommended to the court as a receiver. CHICAGO, Aug. 21.-Windmere Hotel, near the World's Fair, went into the bands of a receiver to-day.
8.August 29, 1893The Seattle Post-IntelligencerSeattle, WA
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Portland's Suspended Banks Solvent. PORTLAND. Aug. 28. - [Special.] - The Chamber of Commerce, before indorsing the report of Bank Examiner Wightman as to the solvency of the four national banks which suspended over a month ago, appointed a commission to examine the affairs and securities of the banks. This commission reported at a special meeting of the chamber this evening fully indorsing the solvency of all four banks, and the chamber recommends depositors to grant an extension of time for payment of their claims and that debtors pay their indebtedness, as far as is practicable, at once. All four banks will resume very shortly, the chamber agreeing to receive their certificates to a reasonable extent in the way of business for the time being. The directors of the Portland Savings bank have requested the clearing house to appoint a committee to examine its affairs and make an official report on the value of its securities. If this report is favorable the bank will reopen, issuing certificates guaranteed by President Dekum. This request was indorsed by the Chamber of Commerce. There is a general feeling that a solution of the financial troubles here has been reached and that confidence will be restored at once.
9.January 5, 1894The Morning CallSan Francisco, CA
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THE PORTLAND SAVINGS BANK. Report of the Committee Appointed to Investigate the Assets. PORTLAND. Jan. 4.-Ex-Mayor de Lashmutt, Colonel John McCracken and H. H. Northrup, who were appointed by the depositors of the suspended Portland Savings Bank to examine the securities of the bank, made a report to-day. After a cireful examination of the securities they find that the total assets are $3,009,840 and liabilities $2,475,175; excess of asset S over liabilities, $534,694. They find that $181,457 of the bank's assets are doubtful, leaving $353,236 of good assets in excess of the liabilities.
10.February 1, 1894The Seattle Post-IntelligencerSeattle, WA
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THE PORTLAND SAVINGS BANK. Not Able to Open Because Some Depositors Are Greedy. PORTLAND, Jan. 31.-[Special.]-The Portland Savings bank, which suspended six months since, will not resume business tomorrow, as was hoped, but the receiver will pay a 10 per cent. dividend on all deposits. Of the $2,400,000 of deposits, extensions had been signed by all but $700,000, when a report was circulated that the bank would resume on February 1, and the depositors stopped signing, and brokers were buying deposits at 90 per cent. of the face value. A number of the largest depositors, who are able to wait, would not sign, and were ready to rush in and draw all their money. This was not considered fair to those who bad signed extensions, and the court ordered that 10 per cent. of the dividends be paid to all depositors. The bank will open for this purpose tomorrow morning. The courts will not hasten to throw the bank into liquidation, and it is hoped that arrangements will yet be made to enable it to resume business, as the assets are ample to pay all depositors if reasonable time is given.
11.February 2, 1894The Dalles Daily ChronicleDalles, OR
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Spokane has a Cultus club. Do you dance? If not watch those who do at the ball of the East End hose company. They're all going. An old gentleman named Ordway, who has been sick for a long time, died in Hood River on Monday and was buried Wednesday. The Diamond mills have shut down for a short time for the purpose of lining up machinery and making some slight repairs and changes. The "geography" party occurs tonight at Fraternity hall. It is rumored that some of the localities to be used will be far fetched, but nothing under 12,500 miles. The Union Republican has brought out the name of Hon. J. A. Wright of Sparta for gubernatorial honors, and calls him "Eastern Oregon's favorite son." Billy V. gave the business away this morning. In a conversation referring to its profitableness he said: "You can't run a dairy ranch without plenty of good water" (for the cows.) The Union Pacific company are storing large quantities of coal at this point. A force of fourteen men are now at work. There is at present between 1,200 tons and 1,500 tons in the yard. We are in receipt of No. 2 of the Midland Monthly published at Des Moines, Iowa. It is very neat typographically, well illustrated, and its contributions are from the pens of well known authors. The Portland Savings bank opened yesterday for the purpose of paying depositors a 10 per cent. dividend. There were more present than could be accommodated, and several days will be required to pay all who are anxious to get their money. The '94 social club gave a banquet at the Columbia Candy Factory last evening. About thirty-seven were present. Oysters were served the entire party inside of two minutes by Sam Campbell, while Newt. ladled out the soup in the culinary department. The absence of Pease & Mays advertisement during the past month has
12.May 10, 1894The Farmers' UnionMemphis, MO
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FINANCIAL AND INDUSTRIAL -According to Bradstreet's, trade is decreasing in the large cities Labor disturbances are assigned as the principal cause. -Colonel W. P. Rend. of Chicago, largely interested in Pennsylvania and Ohio coal fields. will let his men return to work at the old scale unless the strike is soon settled. -By the suspension of a bank in St. Joseph. Mo.. the City Treasurer is deprived by law of any place to deposit the city funds. -Great Northern strikers hissed the proposition by St. Paul business men to submit the trouble to arbitration. -Wisconsin Central receivers issued a manifesto announcing their intention to re-ume work on the ore docks at Ashland and warning all persons against interferonce. -Through the efforts of the business men of St. Pant and Minneapolis the Great Northern strike has been settled, the men securing most of their demands. -Riotous demonstrations characterized the parade of unemployed in Cleveland. Several motormen who refused to stop their cars were badly beaten. -A highly sensational complaint against the Southern Pacific Railroad Company has been filed at San Francisco by John R. Robinson. It demands an accounting, Robinson alleging that he was defrauded of ten shares of stock of Central Pacific Railroad in 1877. At that time, the complainant alleges, the stock was worth $1,200,000 in cash and 150,050 acres of land held in trust, but to which directors claimed private ownership. Robinson prays for judgment for $1,200,000 with legal interest. A sensational feature of the suit is an allegation that Attorney A. A Cohen, while supposed a bitter enemy of the railroad companies, was really in their employ, drawin; $10,000 a year. and that while serving in that capacity he contracted with Robinson to conduct his lawsuit. Robinson alleges that the suit was compromised by Cohen under these circumstances for $17,000. of which Cohen retained 50 percent. as his share. -The twenty-fourth annual report of the Lake Shore and Michigan Southern Railroad. submitted to the stockholders, shows a reduction in the funded debt durinz 1893 from $44,192,000 to $43,942,000 by the cancellation for the sinking fund of $250,000 in bonds secured by first mortgage. The total amount of bonds thus canceled is $5,750,000. --H. O. Smith. member of the Stockton. Cal., firm of Southworth & Gratton, grocers, has filed a petition of insolvency. Indebtedness, $234.000: assets, $255,000. The business of the firms is not affected, and Southworth's interest in the firm is held in trust for the benefit of his creditors Accommodation to friends and the depreciation in the value of real estate is assigned as the cause. -The Portland (Oregon) Savings Bank. which was closed during the financial crisis of last July, has resumed business -The Diamond Match Company proposes to form a combination to control the manufacture of matches throughout the world. As a part of the plan it intends to estab.
13.October 24, 1894The Seattle Post-IntelligencerSeattle, WA
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# The Late Frank Dekum.
A Portland reader of the POST-INTELLIGENCER, one who knew the late Frank Dekum, the Portland pioneer and banker, more than a score of years, takes exceptions to the statement that Mr. Dekum was not progressive and did not improve his property as promptly as his neighbors did theirs: The Portland man writes:
"The exact reverse of this statement is the truth. Mr. Dekum was one of our most progressive citizens, especially in the matter of building. The Dekum block, one of the finest in the Northwest, is only one of his efforts in that line. Long ago he put up one of the best buildings on First street, and another on Washington street. The only other citizen who equaled him in this respect is Hon. H. W. Corbett. Mr. Dekum has taken an interest in all public improvements, especially the water works, public parks, introduction of song birds, contributing his time and money with a liberality exceeded by none. He has been very unjustly blamed on account of the suspension of the Portland Savings bank, for which he was not responsible, and has been obliged to bear all the abuse and worriment caused by that affair, which others should have shared with him, and which would all have been avoided if these men would have done what he was willing and anxious to do."
14.November 21, 1894Richmond DispatchRichmond, VA
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A SAVINGS BANK FAILS. The Trouble Precipitated by Death of the Institution's President. PORTLAND, ORE., November 20. - The Portland Savings Bank failed to open its doors this morning. The lack of public confidence and unremitting withdrawals of deposits are given as the reason for the closing of the bank. O. N. Denny has been appointed receiver, and the bank will go into liquidation. The assets of the bank are given at $1,650,000; the liabilities at $1,430,000. The closing of the bank was doubtless precipitated by the death of Frank Dekum, the president, about a month ago. The bank first closed its doors in the panie of 1893, but resumed in May of this year, under an agreement with the depositors that they, were to draw out quarterly 10 per cent. of their deposits. Many depositors refused to sign off under any conditions, and withdrew their deposits when the bank resumed, materially aiding the present suspension.
A Bank Failure, Portland, Ore., Nov. 20.-The Portland Savings bank failed to open its doors this morning. The lack of pubHe confidence and uncessing withdrawals of deposits are given as reasons of the closing of the bank. O. N. Denny has been appointed receiver and the bank will go Into liquidation. The assets of the bank are given at $1,050,000;
A DESPERATE WOMAN. Fell Forty Feet While Trying to Escape From the Police. STRACUSE, Nov. :1.-Gracle Francis, alias Gracie Williams, under arrest with her husband In this city for a series of petit larcenies, made a daring break for liberty, and now she lies at the point of death, suffering intens: agony from a broken back. The Williams woman was left to herself for a few moments in the detention room of the police matron's department at police headquarters to eat her supper. She procured a sheet from a bed. and tearing it into shreds made a rope. Tying one end of this to the leg of an Iron bedstead. she let herself out of a window. The rope broke before she had begun her descent. and she fell 40 feet to the frozen ground. landing on her back She was taken to St. Joseph's hospital, where, it is said. she will die. The woman, according to her husband's story. was married to him three months ago at To:edo and has a mother living in Columbus An Oregon Bank Fails, PORTLAND, Or. Nov. 21.-The Portland Savings bank failed to open its doors. The lack of public confidence and unremitting withdrawals of deposits are given as reasons for the closing of the bank. O. N. Denny has been appointed receiver, and the bank will go into liquidation. The assets of the bank are given at $1,. 650,000; liabilities, $1,430,000.
17.November 21, 1894The Daily Morning AstorianAstoria, OR
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fort was made to effect a re-organization, but it was unsuccessful, owing to the general apathy of capital to invest in any enterprise. Now no further effort will be made to recuperate the affairs of the bank. It will never again be opened, and the receiver will be permitted to pay dividends to depositors as rapidly as he can realize on the assets. The Portland Savings Bank was established in 1881, with a capital stock of $200,000, in a building at the corner of First and Ash streets. Later the capital stock was increased to $280,000, and the bank removed to its present site, corner of second and Washington streets. It was during the panic of 1893, on July 27, that the bank first closed its doors. Mr. D. P. Thompson was appointed receiver, and as the result of his efforts, the bank resumed business May, 1 of this year, under an agreement with the majority of the depositors that they were to draw out, quarterly, ten per cent of their deposits, and no more. While this was the general agreement, many depositors signed other agreements to allow their deposits to remain undemanded for longer or shorter periods of time. Many depositors who refused to sign off under any conditions, withdrew their deposits as soon as the bank opened its doors, and their action aided materially in precipitating the suspension. Four payments of ten per cent each, were made to those depositors who signed off under the quarterly payment agreement. The Portland Savings Bank, at one time, had close relations with the Commercial National bank, but the fatter, under its reorganization, has no business connections with the Portland Savings bank. The main financial interest in the Commercial National is now the great Wells-Fargo bank, of San Francisco.
18.November 21, 1894The Salt Lake HeraldSalt Lake City, UT
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SAVINGS BANK FAILS. A Run Given as the Reason For the Closing of the Doors. Portland, Or., Nov. 20.-The Portland Savings bank failed to open its doors this morning. The lack of public confidence and unremitting withdrawal of deposits are given as reasons for the closing of the bank. O. N. Denny has been appointed receiver and the bank will go into liquidation. The assets of the bank are given at $1,650,000; liabilities, $1,430,000. The closing of the bank was doubtless precipitated by the death of Frank Dekum, the president, about one month ago. The bank first closed its doors in the panic of 1893, but resumed in May of this year under an agreement with the depositors that they were to draw out quarterly 10 per cent. of their deposits. Many depositors refused to sign off under any conditions and withdrew their deposits when the bank opened, materially aiding the present suspension.
Bank Failure at Portland, Or. PORTLAND, Or., Nov. 21.-The Portland Savings bank failed to open its doors Tuesday morning. The lack of public confidence and unremitting withdrawals of deposits are given as reasons of the closing of the bank. O. N. Denny has been appointed receiver and the bank will go into liquidation. The assets of the bank are given as $1,650,000; liabilities, $1,430,000.
20.November 24, 1894The Dalles Times-MountaineerDalles, OR
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From Thursdays Daily. The trees are nearly denuded of leaves. The Portland Savings Bank closed its doors again yesterday. 0. N. Denny has been appointed receiver. Assets, $1,650,000; liabilities $1,430,000. The Gesang Verein Harmonie will give a grand ball next Wednesday evening. Music will be turnished by The Dalles Orchestra Union, and every arrangement will be made to insure the enjoyment of guests. Fred Broadbent was brought up yesterday from Hood River, having been held in the sum of $1500 by Justice Soeabe for the crime of adultery. We understand the grand jury has been considering the case this afternoon. There was one person before the recorder this morning. He was arrested last night for being drunk and disorderly and quite obstreperous. The recorder after understanding the situation, imposed a fine of $10 on the prisoner. At the regular meeting of Wasco tribe, No. 16. I 0. R. M, one Hunter was raised to the Warrior's degree, and eight Warriors were made chiefs. Wasco tribe is in a very prosperous condition, and at every regular meeting pale faces are adopted and degrees conferred on initiates. Salem Statesmau: The principal thing about the present school book discussion is "the change"- yes, about $300,000 of the taxpayers' "change" that the proposed change purposes changing by the change from the pockets of the people to the purse of the book publishers. At the regular meeting of Wasco tribe No. 16, I. 0. R. M., held at the wigwam last night, all arrangements were made for "the grand masquerade ball to be given Dec. 31st iL Wingate's hall The necessary cotnmittees were appointed, and it appears to be the determination of all Red Men to make this the grand event ot the season. The case on trial today is State of Oregon vs. Brien. The jury empanelled consists of F Kemp, J R Woodcock, W T McClure, J W Zumwalt, C E Hill, W J Harriman,
21.February 4, 1896Daily Capital JournalSalem, OR
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The Portland Savings bank, by O. N. Denny, receiver, vs. Thos. H. D. Cew et al.
Scottish Investment Co. vs. Wm. N. Ladue.
Peter Zielinski vs. Wm. P. Miller et al.
Alexander Turcotte vs. Zenaide DuRette et al.
DIVORCE.
Mary E. Cooper vs. Alexander Cooper.
Louise Kampman vs. Wm. Kampman.
Cora A. Wilson vs. J. A. Wilson.
N E. Marchbanks vs. J. H. Marchbanks.
S. Ethel White vs. W. A. White.
John Boyce vs. Emma Boyce.
Mary E. Swartz vs. Alonzo Swartz.
The remainder of the docket in this department shows the following suits:
State of Oregon vs. First National Bank and Ladd & Bush, escheat; two cases.
G. W. Dimick vs. Emma Storts et al.; suit to foreclose mechanic's lien.
Jessie A. Rohrer vs. Chas. F. and Isabel Simon; suit in equity to set aside fraudulent transfer to real property.
Paul J. G. Kleppin et al. vs. J. M. and H. F. Wallace et al.: equity.
State of Oregon ex rel Chas. H. Dodd & Co., vs. Al. Moisan et al,; contempt of court.
Sophia Peterson vs. Erick Peterson; partition.
J. A. Baker vs. Williams & England Co., H. P. McNary, receiver; receivership.
G. W, Dimick et al. vs. Amos Strong et al.; mandamus.
George W. Dimick et al vs. J. H. Fletcher et al.; equity.
John Ryan vs. J. E. Eldriedge et al.; equity.
W. M. Wirt vs. Oregon wholesale Nursery Co.; receivership.
Trustees of Willamette University vs. John Knight, sheriff; injunction.
Bozorth Bros. vs. Paul J. G. Kleppin et al.; equity.
C. Marsh vs. James E. Eldriedge et al; foreclosure of mechanic's lien.
22.September 12, 1896The San Francisco CallSan Francisco, CA
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PACIFIC COAST BONDS. Frederick Pettibone, cashier of the Fairhaven National Bank of Fairhaven, Wash., advertises that upon October 4 he will sell in the name and in pursuance of the order of the board of directors of the bank a sufficient number of shares to make good the deficiency of $15,000, or such part of the original deficiency of $15,000 88 has remained unpaid since notice was given in January by Comptrolle r of the Currency of an assessment of $30 per share. As a matter of fact most of the assessment has been paid, but something like 150 shares are declared delinquent at this time. Receiver Tillinghast of the Columbia National Bank of Washington has filed notice in the United States court that he will compromise the account of $2000 owed to the bank by Lawrence Bros. State Treasurer Bowen had $10,000 in the bank, and he and other large creditors have been notified. The Linn County National Bank of Oregon has paia all depositors their principal in full, and they will now receive 5 per cent in addition, in accordance with an order issued by Comp:roller Eckels that a 5 per cent interest dividend should be declared. There are suits pending which, if settled in favor of the bank, may add from 1 to 13/4 per cent more to be paid on interest. A statement concerning the affairs of the Portland Savings Bank has been filed by Receiver Denny, from which it appears that there is due the depositors about $1,100,000, and according to the Portland Oregonian, after Wells, Farzo & Co. have been settled with there will be $1,000,000 assets left for the benefit of the depositors. Four dividends have been declared since the bank falled-three by the bank directors and one by the court. he West Philadelphia Title and Trust Company has brought suit against the city of Olympia, Wash., and others, to obtain an amendment to the decree issued by the Superior Court to enjoin the city from paying out $800 worth of warrants issued to I. Liberman in payment for grading on one of the city streets. The complicationsen the case are of little local interest here. but the position of the Philadelphia company is, as alleged, that they were innocent purchasers of the warrants: that the work for which the warrants were issued was done: that the city receiv. d the benefit therefrom, and that it should pay the warrants. Bids for the Anaheim bonds will not be opened until October 13. The Los ngeles Times has interviewed many prominent people in Los Angeles concerning the influence of free silver on contracts and investments. W. C. Patterson, president of the Cham-
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
