Tacoma National Bank (Tacoma, WA)

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Episode Information

Episode UID
292401123
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
29240 national
Charter Number
2924
Start Date
July 24, 1893
Location
Tacoma, Washington (47.253, -122.444)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
efaad361b5a42108

Response Measures

None

Receivership Details

Depositor recovery rate
21.0%
Date receivership started
1894-12-14
Date receivership terminated
1900-08-09
OCC cause of failure
Losses
Share of assets assessed as good
11.8%
Share of assets assessed as doubtful
72.2%
Share of assets assessed as worthless
16.1%

Description

Initially suspended during the 1893 panic, reopened late 1893, then suspended and went into liquidation in Dec 1894 with a receiver appointed.

Events (6)
1. April 13, 1883 Chartered
Source
historical_nic
2. July 24, 1893 Suspension
Cause
Macro News
Cause Details
Suspended during the nationwide financial panic of July 1893 and general stringency affecting many Western banks.
Newspaper Excerpt
The Tacoma National Bank, one of the strongest in the Northwest, suspended this morning.
Source
newspapers
3. December 5, 1893 Reopening
Newspaper Excerpt
The Tacoma National Bank, which suspended four months ago, will resume on Monday.
Source
newspapers
4. December 3, 1894 Suspension
Cause
Voluntary Liquidation
Cause Details
Officers hoped the comptroller would permit it to go into liquidation; bank closed and entered liquidation rather than temporary suspension.
Newspaper Excerpt
The Tacoma National Bank closed its doors this morning, the cashier's notice stating that the institution was going into liquidation.
Source
newspapers
5. December 14, 1894 Receivership
Source
historical_nic
6. December 14, 1894 Receivership
Newspaper Excerpt
Phillip P. Anderson ... has been appointed receiver of the Tacoma National Bank.
Source
newspapers

Newspaper Articles (22)
1. July 25, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 25, 1893

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PEOPLE AND PLACES. MUNICH, July 24.-The condition of King Otto of Bavaria is daily becoming worse. TACOMA, Wash.. July 24. - The Tacoma National bank did not open its doors this morning. PLAINVIEW, Neb., July 24. The Plainview State bank was robbed last night of $30,000 cash. and in consequence did not open its doors this morning. NEW YORK, July 24.-Henry Bach, wholesale clothing. No. 737 Broadway.with branches in Boston and Chicago, is financially embarrassed. His liabilities are over $100,000. CONNERSVILLE, Ind., July 24. The Citizens' bank. owned by ex-United States Treasurer Huston, has failed. No statement of assets or liabilities. Depositors will. it is said, be paid in full. WASHINGTON, July 24.-The treasury is informed that 15 persons, eight of them federal officials, have been indicted at Portland, Ore., for smuggling Chinese and opium into the United States. LOUISVILLE, Ky., July The Louis= ville City National bank suspended this afternoon. It has a capital of $400,000. It was impossible to realize on assets. Deposits received to-day will be returned. NEW YORK. July 21.-One hundred and twenty-eight thousand ounces of silver will be shipped to-morrow. Two hundred thousand dollars of gold arrived to-day from Europe and $270,000 from Havana. MANCHESTER, N. H., July 24.-The National Bank of the Commonwealth will suspend payment to-morrow. Its assets and liabilities about $625,000. The sus. pension of the New Hampshire Trust company precipitated this. SYRACUSE, N. Y., July 24.-The extensive manufacturing firm, Bradley & Co., went into a receiver's hands this afternoon. The firm manufactured trip hammers, wagons and fancy carriages and filters. The buildings and plant are valued at $500,000. The liabilities are about $350,000. DENVER, July 21. - Bank Examiner Lazar says: All the six suspended banks here have enough assets to resume in time and that a plan is on foot to get depositors to accept certificates of deposit payable in instalments giving them time to realize on their assets and prevent enforced liquidation. ASBURY PARK, July 21.-One hundred and forty members of the First brigade of the New Jersey National guard. now in camp at Sea Girt, are prostrated by some mysterious poison, the nature of which is not known. It may have come from OX+ alic acid gathesed in their tin cups. which had been stored since last summer. It is not thought that any of the men will die. WASHINGTON. July 24.-The grand jury found true bills against Col. Frederick C. Ainsworth, chief of record and pension division of the war department. George W. Dart. the contractor employed to make excavation for the electric light plant. W. E. Covert, superintendent, and Francis Casse. engineer. holding them responsible for the old Ford theater disaster last June in which 23 persons lost their lives, and a large number were injured.

2. July 25, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, July 25, 1893

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More Bank Failures. TACOMA, Wash., July 24.-The Tacoma National Bank, one of the strongest in the Northwest, suspended this morning. This bank has been assisting other banks in the city for the past six months. LOUISVILLE, July 24.-The Louisville City National Bank closed its doors at 11:50 this morning.

3. July 25, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 25, 1893

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Tocoma National Goes Under. TACOMA. July 25.-The - Tacoma National bank, one of the strongest in the Northwest, has suspended. This bank has been assisting other banks in the city for the past six months.

4. July 25, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 25, 1893

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MORE WESTERN BANKS FAIL. EX-UNITED STATES TREASURER HUSTONS INSTITUTION AMONG THEM. THE LOUISVILLE CITY NATIONAL SUSPENDS PAYMENT-MANY POOR PEOPLE IN CHICAGO LIKELY TO LOSE THEIR SAVINGS. Connorsville, Ind., July 24.-The Citizens' Bank, owned by ex-United States Treasurer Huston, failed to open its doors this morning, owing to the financial stringency. The liabilities will not exceed $150,000. The depositors will, it is said. be paid in full. In an interview Mr. Huston said, regarding the suspension of the bank: "It is my misfortune. None of the depositors or creditors will lose a cent. My personal property will more than cover all liabilities, to say nothing about the real estate. It will not affect any of the industries in which I am interested in the least. The real cause of the suspension 1s the rumors that have been spread abroad that I was Interested in foreign speculations and thad lost heavily. There is nothing in the story, but it had the effect to scare quite a number of my depositors. which left me in a crippled condition. The bank is my own individual property, and every dollar that I am worth will stand good for my liabilities. No one will lose anything. All that I ask is a little time, and everything will be adjusted satisfactorily. I have been building up a business for twenty years here. and always took pride in my honesty. Now I have the opportunity to show the people that I am honest. I want no one to lose anything, not even those who have been Instrumental in bringing my misfortume about." Louisville. July 24.-The Louisville City National Bank suspended payment at 1:20 o'clock this afternoon. It has a capital of $400,000. The announcement that it had closed for business was not anexpected. The bank found that It was impossible to realize on the assets. owing to the financial stringency. Deposits received to-day will be returned to the bank's patrons. Tacoma. Wash., July 24.-The Tacoma National Bank. one of the strongest in the Northwest, suspended this morning. It has been assisting other banks in the city for the last six months. Great Falls, Mont., July 24.-The Merchants' National Bank closed its doors to-day at noon. A notice, signed by the directors, stating that all the depositors will be paid in full, was posted. Milwaukee, July 24.-It was expected that the runs of Saturday on several of the banks would be renewed to-day, but none were started, and. unless something unforeseen again disturbs the business world, matters at the banks will be in their normal condition in a few days. It has been definitely decided that the Milwaukee National Bank will soon reopen its doors. Chicago, July 24 (Special).-Bradford & Church, bankers, of Dearborn-st., have closed their financial institution. The deposits are said to aggregate be tween $20,000 and $30,000. A year ago E. D. and J. D. Bradford made some money in a land deal at Tolleston, Ind., and soon afterward opened a private bank. The first thing they did after having their sign painted was to distributed several thousand small iron banks among the poor people of Chicago. The banks could be opened only by the Bradfords. When one of these receptacles was filled with small coins the holder would take it to B:adford's, have It emptied and get credit in a deposit book for the amount. Last March E. D. Bradford retired, and George Church was admitted as junior partner. Nearly a month ago Bradford and Church went away and have not been seen since then. Frank V. Homer. the cashier, was left in charge. and about a week ago he disappeared. Since that time nothing has been seen of anyone connected with the bank.

5. July 25, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, July 25, 1893

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Special to the RECORD-UNION. WASHINGTON, July 24.-The Treasury officers say the week opens with bright financial prospects, and they speak with confidence of the future. Many of the banks that failed within the past few days have taken the necessary steps to resume, and Comptroller Eckels is lending them all the aid possible. The First National Bank of Santa Ana, Cal., which resumed on Saturday, received in deposits $12,000, while the withdrawals amounted to only $6,000. This is regarded here as evidence that confidence has been practically restored on the Pacific Coast. AN INDIANA FAILURE. CONNORSVILLE (Ind.), July 24. - The Citizens' Bank, owned by ex-United States Treasurer Huston, has failed. There is no statement of assets or liabilities. The depositors will, it is said, be paid in full. Huston says that none of the depositors or creditors will lose one cent: that his personal property will more than cover the liabilities, not to mention his real estate; that it will not affect any of the industries in which he is interested, and that the cause of the suspension is baseless rumors. He is interested in foreign speculations, losing heavily. All he asks is alittle time. PRIVATE BANKERS CLOSE THEIR DOORS. CHICAGO, July 24.-Bradford & Church, private bankers, closed their doors without even posting a notice. Their whereabouts seem known only to themselves. The deposits are light, but gathered from a large number of poor people by a system of distributing small iron savings banks, which could only be unlocked at the bank, into which pennies and nickels were dropped and periodically taken to the bank for deposit. ANOTHER LOUISVILLE BANK. LOUISVILLE (Ky.), July 24.-The Louisville City National Bank suspended this afternoon. It has a capital of $400,000, and it was impossible to realize on the assets. The deposits received to-day will be returned. TACOMA BANK FAILS. PORTLAND (Or.), July 24.-Private messages from Tacoma state that the Tacoma National Bank failed to open its doors this morning. No statement is given. DENVER BANKS TO RESUME IN TIME. DENVER, July 24.-Bank Examiner Lazar says all the six suspended banks here have enough assets to resume in time, and that the plan on foot is to get depositors to accept certificates of deposits, payable in installments, giving them time to realize on the assets and prevent enforced liquidation. A HAPPY TURN. PITTSBURG, July 24.-The extensive iron and steel plant of Jones & Laughlins resumed in all its departments to-day after an idleness of several weeks. The steel, iron and finishers' scales of the Amalgamated Association were all signed. The resumption gives employment to 5,000 men.

6. August 19, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 19, 1893

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Tacoma National Bank Seeks to Reopen. TACOMA, Aug. 18.-[Special.j-With the indulgence of its depositors, the Tacoma National bank expects to reopen shortly and to settle all accounts much quicker than should a receiver be appointed by the following plan, which was announced today: "At the suggestion of the comptroller of the currency, in order to facilitate the reopening of the bank, we have decided to ask the co-operation of each of our depositors in the following manner, namely: That each depositor call at the bank with his or her bank book or certificate, and enter into an agreement with the bank that deposits shall be drawn only in the following manner: Ten per cent. cash upon the reopening of the bank; 15 per cent. on December 20 next; 25 per cent. on March 20, 1894; 25 per cent. on June 20, 1894. and 25 per cent. on September 20, 1894."

7. October 20, 1893 Washington Standard Olympia, WA
Article from Washington Standard, October 20, 1893

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The Mealy-Lacey mill at Chehalis has resumed. Aberdeen will make its tramps work on the streets. Threshing is on again full blast about Rosalia. Counterfeit silver dollars are plentiful at Walla Walla. H. S. Owen's $4,000 residence burned at Lake Steilacoom. Lewis county's expenses for the last quarter were $33,083. Edwin H. Hatfield, of Tacoma, died in that city yesterday. Shingle certificates circulate as currency at Blaine stores. Spokane's council has declined to revise the city charter. Snohomish shingle mills are preparing to run all winter. Two freight cars were wrecked in a collision at Walla Walla. Garfield schools, closed on account of diphtheria, have reopened. The Tacoma National bank expects to resume November 1. Cathlemet farmers will experiment with fall planting of potatoes. It is raining dreadfully again throughout the Palouse valley. Whitman county horticulturists meet at Pullman, November 4. A trainload of cattle has gone, to South Omaha from Uniontown. Seattle is laying off a good many city employes to save expenses. Tacoma Mystic Shriners will have a great festival Wednesday night. The Puget Sound Schoolmasters' Club meets at Everett Saturday. Kalama's municipal debt is $1,000 and coming annual budget $858. The bridge across the Tukanon at Starbuck, 280 feet long, is completed. Charges of wastefulness in the Ruby creek trail work arebeing investigated. Snohomish is worried over improper bookkeeping in its treasurer's accounts. The Day brothers are shooting 3,000,000 falls. feet of logs over Snoqualmie The Supreme Court has pronounced legal. the Port Angeles bonding proposal Walla Wallans changed a $50, $90, $20 stranger. and $10 confederate bill for a Colfax will raise $16,046 municipal valuation. taxes, being 13 mills on its $1,233,377 The government quarantine buildcompleted. ings near Port Townsend are nearly Uniontown's new brick schoolhouse, stories high, is nearly ready for occupancy. Major E. A. Routhe is setting out 1,000 strawberry plants on his Stevens county ranch. A half-mile race track is being built on Dr. Clowe's place near Fort Walla Walla garrison. Engvel Halvorson, a Tacoma team. ster, dropped dead from over-exertion while loading hay. Twenty-eight notices of final proof on timber-land claims are running in the Winlock Pilot. The West Virginia colony recently arrived at Chehalis will settle in the Big Bottom country. Blaine's school funds have given out and money to run the schools is being raised by subscription. Funds have given out for the two bridges Snohomish county is building over the Stillaguamish. The hop crop of the Bishop ranch near Chimacum has gone East. It will bring about $5,000. Six carloads of canned salmon have arrived at Fairhaven from Vancouver for shipment to London. Hundreds of wild geese are feeding in the grain fields in the vicinity of Lake, in Asotin county. The new courthouse in course of construction at Mount Vernon has been insured for $10,000. An Ocosta hen moved to Montesano on the cowcatcher of an engine and has located permanently. William Phillips, under bonds at Chehalis for assault, has fled and left his bondsmen in the lurch. W. F. Thompson, of the late lamented Westport World, will start a weekly paper at Sprague. E. J. St. Louis was discharged at Everett for assault on his sister, and held for incest in $1,000 bonds. it J. H. Coblentz has been elected 0 Warden of the State Penitentiary to succeed J. A. McLeod, resigned. d d Toledo United Workmen had swell celebration of the third an- a le niversary of the lodge's formation. John Uphouse, of Sedro, is said to it have discovered asbestos deposits of considerable richness and extent. a The Bellingham Bay & Eastern railroad is bringing in about 20 carloads of logs daily from

8. October 26, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 26, 1893

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Brief Tacoma News. TACOMA, Oct. 25.-(Special.]-E. 8. Alexander has been appointed receiver for the Tacoma Box Company. The Tacoma National bank, under an arrangement with its depositors, will open its doors again on November 1. Dr. W. H. Fox, who was in charge of the pest house summer before last during the smallpox epidemic, has been married in Chicago. The Tacoma Lumber and Manufactur. ing Company has appealed from Judge Stallcup's decision placing a receiver in charge of its property. Reina Sorenson was committed to the Steilacoom asylum today by Judge Parker, She is suffering from suicidal mania, and has been in the asylum before, C. D. Ball has bought the Sunday Herald from Hal Hoffman. The court-martial which was to try four members of Company C, First regiment, N. G. W., adjourned again tonight till Friday evening at 8 o'clock. This action was necessitated by the absence of two of the officers.

9. December 3, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, December 3, 1893

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A BANK TO RESUME. Tacoma, Dec. 2.-The Tacoma National Bank, which suspended four months ago, will resume on Monday.

10. December 15, 1893 The Mason County Journal Shelton, WA
Article from The Mason County Journal, December 15, 1893

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The Tacoma national bank which suspended business the 24th of July last, opened up all right last Monday morning, which shows a tendency to better times on the Sound.

11. December 4, 1894 The Record-Union Sacramento, CA
Article from The Record-Union, December 4, 1894

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CLOSED ITS DOORS. The Tacoma National Bank Suspends for the Second Time. TACOMA, Dec. - The Tacoma National Bank, which closed its doors during the panic of July 22, 1893, and reopened on December 5th, closed again to-day. Its suspension has been anticipated for some past, as since its reopening its statements have shown no increase of business. The officers hope the Comptroller will permit it to go into liquidation. At the time of the Baring failure its deposits amounted to $1,250,000. When it suspended in 1893 its liabilities had been reduced to $510,000. When it closed to-day its deposits amounted to only $116,000. Its total liabilities are only a little over $200,000. Its assets are figured at $510,000.

12. December 4, 1894 Birmingham Age-Herald Birmingham, AL
Article from Birmingham Age-Herald, December 4, 1894

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CLOSED THE DOORS. TACOMA, Wash., Dec. 3.-The Tacoma National bank closed its doors this morning, the cashier's notice stating that the institution was going into liquidation. The bank suspended payment during the pawic last year, and resumed after doubling its capital to $200,000. W. B. Blackwell, the president of the bank, is at present in Philadelphia.

13. December 4, 1894 The Herald Los Angeles, CA
Article from The Herald, December 4, 1894

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UPHILL STRUGGLE. The Tacoma National Bank Again Closes Its Doors. TACOMA, Wash., Dec. 3.-The Tacoma National bank, which closed its doors during the panic on July 22, 1893, and reopened on December 6tb, closed again today. Its suspension had been anticipated for soine time past, as since its reopening its statements have shown no increase in business. The officers hope the comptroller will permit it to go into liquidation. At the time of the Baring failure its deposits amounted to $1,250,000. When it suspended in 1893 its liabilities had been reduced to $510,000. When it closed today ite depoeite amounted to only $216,000. Its total liabilities are only a little over $250,000. Its assets are figured at $510,000.

14. December 4, 1894 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, December 4, 1894

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Tacoma Bank Closes. TACOMA, WASH., December 3.-The Tacoma National Bank closed its doors this morning, the cashier's notice stating that the institution was going into liquidation. The bank suspended payment during the panic last year, and resumed after doubling its capital to $200,000. W. B. Blackwell, the president of the bank, is at present in Philadelphia.

15. December 6, 1894 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, December 6, 1894

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NEWS NUGGETS. The Tacoma National bank has gone into liquidation. The North Platte National bank, of Nebraska, has suspended. Richard Quinn was killed in a railroad accident near Port Henry. New York. It is feared that the steamer Kenmore foundered in the fog off the coast of England. The house of Joe Mitchell at Manistique, Mich., burned and his two sons perished in the flames. It is said that republicans are determined upon no tariff legislation until the country has recovered from the last.

16. December 13, 1894 The Dakota Chief Gann Valley, SD
Article from The Dakota Chief, December 13, 1894

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IN THE WEST CHICAGO special: There was a meeting of the local board commission of the Insurance Union, which has the state of Iowa under supervision, union companies in paying excess commissions over union rates it was decided to defer the war in rates no longer. As a result the union compact managers in Des Moines. Davenport. Sioux City and Council Bluffs will receive letters ordering all farm rates off throughout the state and reducing the rate on dwellings in fire department towns to 50 cents for one year or 81 for three years, with an added amount for exposures, to a uniform rate of 20 cents for one year or three years for 50 cents, and with no addition for exposure. CHICAGO special: C. F. Kimball & Co., R. D. Kelly and other brokers who have been doing a thriving business in shaving election judges' and clerks warrants have discovered that they have been defrauded of a large amount of money through bogus warrants. About 5,000 judges and clerks served at the recent election, receiving warrants from $12 to $15. Many of them cashed the warrants at a discount with various brokers. When the warrants were presented to the county comptroller it was found that a number of bogus ones were cashed. The amount of the brokers' losses is not known, but it will probably be large. ROCKFORD, Ill., special: Commander in Chief Lawler, of the G. A. R. has called a meeting of the executive committee of the council administration at Louisville, December 18, to ar, range for the next national encampment. Lawler received a beautifully worded reply from Isabella Comptesse de Paris, on resolutions passed by the Pittsburg Encampment on the death of her husband, the Compte de Paris, who came here during the war and fought under the union flag. CHICAGO special: The National Armenian Union will hold a meeting Sudnay evening to express sympathy with the sufferings of the Armenians under Turkish rule. H. N. Higginbotham, President of the World's Fair will preside. Addresses will be made by Mayor Hopkins and other prominent citizens, and a memorial will be sent to Congress, asking that the country intervene in behalf of humanity to mitigate the sufferings of the Armenians. DENVER, Col., special: The monthly reportat the United States mint for No. vember shows a remarkable increase in the deposits for the corresponding months last year. Last year's receipts for November were $171,814.27, while those of last month amounted to $501,627.25. The increase of receipts has attracted the attention of the Treasury Department at Washington, and Director Preston is expected to come to Colorado next week to look into the situation. MINNEAPOLIS special: The body of Miss Catherine Ging, a fashionable dressmaker who had accumulated considerable property, was found in the middle of a country road leading to this city. A gambler of St. Paul, whose name the police decline to give, whom she was in the habit of meeting by appointment and driving with. is suspected of the crime. It is believed the motive was robbery, as she was known to have had a large sum in cash. STREATOR, Ill., special: The only distinctive Russian edifice in America was dedicated here by Bishop Nicholas of Sitka, Alaska, assisted by several other divines. The services were very impressive, lasting five hours. The church is built entirely of the sweet smelling Tchen wood, which comes from Russia, and from the remains of the Russian vestibule in the Manufacturers Building at the World's Fair. TACOMA special: The Tacoma Nationol Bank has closed its.doors Cash-

17. December 15, 1894 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, December 15, 1894

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TACOMA NATIONAL'S RECEIVER. Tacoma, Dec. 14.-News was received tonight of the appointment of Phillip P. Anderson, son of the late General Adnla Anderson, chilef engineer of the Northern Pacific rtailroad, as receiver of the Tuoomia National Bank.

18. December 15, 1894 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 15, 1894

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Receiver of a Bank. Tacoma, Wash., Dec. 15.-Phillp P. Anderson, son of the late General A.u. nderson, chief engineer of the Northern Pacific railroad, has been appointed receiver of the Tacoma National bank. There were numerous applicants for the appointment, which Anderson is credited with obtaining through influential connections at Washington.

19. August 15, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 15, 1895

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Tacoma Business Troubles. Tacoma, Aug. 14.-Special.-L. N. Hansen was today appointed receiver of the Pacific Supply Company on the suit of John Masury & Co. P. V. Anderson, receiver of the Tacoma National bank, secured a temporary injunction today, restraining the Meridian Brick Works and others from disposing of certain of their machinery, pending the foreclosure of a trust deed which the bank is prosecuting.

20. November 14, 1895 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 14, 1895

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DIVIDENDS FROM BROKEN BANKS Tacoma National, 10 Per Cent.-Washington National, of Tacoma, 5. Tacoma, Nov. 12.-Special.-Comptroller James H. Eckels today declared a dividend on the Tacoma National bank and the Washington National bank of this city, Receiver Philip Anderson, of the first named bank, was ordered to pay a 10 per cent. dividend, and Receiver Stuart Rice, of the other, will pay a dividend of 5 per cent. to depositors. The news was received with some rejoicing at the city hall, as the city will receive $1,200 from the Tacoma National, and nearly $1,000 from the other receiver. The city has $50,000 interest on the water and light bonds to meet on December 1, and, as a councilman expressed it, "Every little helps." The 5 per cent. payment to the depositors of the Washington National bank makes 65 per cent. that Receiver Rice has paid. The dividend on the Tacoma National is its first. In the former bank the city had a credit of $16,000 and in the latter $12,000 when it closed. The dividends will be paid in about ten days or two weeks, or as soon as the checks and schedules can be prepared.

21. October 2, 1897 The Providence News Providence, RI
Article from The Providence News, October 2, 1897

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Washington, D.C., Oct. 2.-The reports of business improvement and activity in masufacturing and commercial lines which have come to the front since the enactment of the Dingley law has suggested to somebody with a good memory a comparison of present conditions with those ot the corresponding dates in the first year of the Cleveland administration. It is a curious fact that the enactment of the Wilson law came at just about a corresponding period with the meeting of the free-trade Congress in the first year of Ceveland's second term, [and that it is therefore possible to contrast business conditions under the shadow of approaching free trade with the business condition in the sunshine of returning protection. This comparison is startling. This period covered in the comparison of the two months since the final action upon the Dingley bill compared with the corresponding two months in the Cleveland term. or from July 24 to Seteraber 24, 1893, contrasted with July 24 to Setember 24, 1897. Here is the contrast; it is well worth laying for reference: Week ending July 24, 1893-Failure of Bozeman. Montana, national bank. Four Denver banks closed their doors. Bank suspensions in other Western cities. Two bank failures in Milwaukee, and runs on numerous other banks. Commercial Bank of Denver fails; capital, $250,000. Bank failures At Vernon, Tex., and Knoxville, Tenn.; capital. $200,000. Failure of Tacoma (Wash.) National Bank; capital, $200,000; also failures of banks at Great Falls. Mont., and Orladno, Fla. ; capital, $200,000. Suspension of work in manufactories reported from all sections. Week ending August 1, 1893,-National banks at Manchester, N.H., and Indianapolis, Ind fail; capital $500,000. Failure of First National Bank at Spokane, Wash. ; capital, 2500,000. Ten banks sus pended in one dav (July 27) capital, $2,000,000. Bank failures in South Dakota. Montana, Illinois, Kansas, Texas, Washington, New Hampshire, and correspendingly large number of business suspensions. Week ending August 8, 1893-Collapse of Chicago provision deal and many failures of commision houses. Failure of National Bank of El Paso, Texas. Failure of National Bank of San Antono, Texas. Failure of National Bank of Mounce, Ind. LIIId Congress meets in special session to begin its destruction of the McKinley law. Week ending August 28, 1893-Encounter between the Anarchists and Soeialists averted by New York police. Failure of National Bank at Hindman, Pa. Failure of National Bank at Tacoma, Wash. Suspension of manufacturing establishments in numerous states. Announcement by controller of the currency that 155 national banks and 560 private banks had failed during the year ending August 28. Railroad receivers appointed during August for Northern Pacific, Pt itadelphia & Reading, New England and Pittsburg, Akron & Western. September-Railroad receivers appointed for Wisconsin Central. Chicogo, Peoria & St. Louis, Cleveland, Canton & Southern. Evansville & Terre Haute railroads. The mileage of roads placed in the hands of receivers during the year 1893 was 25,375, nearly one-seventh of all the lines in the United States, and their indebtedness $1,212,217,033. During the year there were 16,115 mercantile suspensions, involving liabilities amounting to $346 779,889. During the bank suspensions of July loans were made on call at the New York Stock Exchange as high as 72 per cent. The following statements of revival of manufacturing industries during the sixty days following the enactment of the Dingley law. the period corresponding with the similar dates in the first year of Cleveland's second term, show the contrast between present conditions and those of the corresponding months of the preceding adminisration. The statements which follow are from "Brad street's:' Week ending July 24, 1897-Twenty thousand workmen resumed work in iron and steel industries. Bigelow Carpet Company, at Clinton, Mass. resumes

22. October 21, 1897 The Islander Friday Harbor, WA
Article from The Islander, October 21, 1897

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SOME COMPARISONS OFFICIAL REPORTS SHOW THE DIFFERENCE IN THE TIMES. Under the First 60 Days of the Cleve. land-Wilson Low Tariff the Country Was in a Panic-Under the McKinleyDingley Tariff the Country Confident. E. F. PARSONS, Special Correspondent. Washington, D. C.-The close of the first sixty days of the operations of the new tariff law and the business improvements which are visible in every direction during that time have suggested a comparison of the conditions during the two months in question with those of the corresponding date in the first year of the Cleveland administration, during which time the free trade congress, elected with President Cleveland, was just beginning its attack upon the protective system which the Dingley law sixty days ago re-established. The two periods from July 24 to September 24 in the years 1893 and 1897, respectively, present a marked contrast -Bod St 1! pus conditions business 01 SE sible to obtain from government records some data bearing upon this subject and now especially interesting. The following data gathered from official reports presents a picture of the sixty-day period of the year 1893 with which the two months just ended correspond both as to the portion of the year and the period of the presidential administration and also proximity to tariff legislation: Week ending July 24, 1893-Failure of Bozeman, Mont., National Bank; four Denver banks closed their doors; bank suspensions in other western cities; two bank failures in Milwankee and runs on numerous other banks; Commercial Bank of Denver fails, capital $250,000; bank failures at Vernon, Texas, and Knoxville, Tenn., capital $200,000; failure of Tacoma, Wash., National Bank, capital $200,000; also failures of banks at Great Falls, Mont., and Orlando, Fla., capital $200,000; suspension of work in manufactories reported from all sections. Week ending August 1,1893-Nation-uI pus "H N Manohester 18 queq 18 dianapolis, Ind., fail, epaital $500,000; failure of First National Bank at Spokane, Wash., capital $250,000; ten banks suspend in one day (July 27), capital $2,000,000; bank failures in South Dakota, Montana, Illinois, Kansas, Texas, Washington, New Hampshire, and correspondingly large number of business suspensions. Week ending August 8, 1893-Collapse of Chicago Provision Deal and many failures of commission houses; failure of National bank of El Paso, Texas; failure of National bank of San Antonio, Texas; failure of National bank of Muncie, Ind; fifty-third congress meets in special session to begin its destruction of the McKinley law. Week ending August 28, 1893-Encounter between the anarchists and socialists averted by New York police; meeting of anarchists broken up by New York police; failure of National bank at Hindman, Pa.; failure of National bank at Tacoma, Wash., suspension of manufacturing establishments in numerous states; announcement by comptroller of the currency that 155 National banks and 560 private banks had failed during the year tnding August 28; railroad receivers apppointed during August for Northern Pacific, Philadelphia & Reading, New England and Pittsburg, Akron & West"ure September-Railroad receivers