First National Bank (San Diego, CA)

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Episode Information

Episode UID
305001122
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
30500 national
Charter Number
3050
Start Date
June 21, 1893
Location
San Diego, California (32.715, -117.157)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5c2f3b3c3bf1abec

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Events (4)
1. September 18, 1883 Chartered
Source
historical_nic
2. June 21, 1893 Run
Cause
Local Banks
Cause Details
Run triggered by suspensions of other local San Diego banks (Consolidated National and Savings Bank) following California/L.A. banking troubles.
Measures
Closed doors after heavy withdrawals; awaited examiner instructions.
Newspaper Excerpt
Owing to a run consequent upon the morning suspensions, the First National closed its doors this afternoon.
Source
newspapers
3. June 22, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension followed a run precipitated by earlier suspensions of other banks and regional stringency tied to Los Angeles failures.
Newspaper Excerpt
the First National bank of this city, which suspended on June 22, resumed business this morning.
Source
newspapers
4. July 5, 1893 Reopening
Newspaper Excerpt
the First National Bank of this city ... resumed business this morning.
Source
newspapers

Newspaper Articles (24)
1. June 22, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 22, 1893

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CONDENSED DISPATCHES. An order was issued on June 20 for the cruiser Atlanta to return from Nicaragua, the trouble there being at an end. The business transacted at the Trans-Missouri congress at Denver on June 20 was contined to reading rules ad opted at Chicago. Those distillers fighting the whisky trust are preparing s history of that institution to aid the attorney general of Illinois to fight it. An elaborate banquet was given at the Auditorium in Chicago on June 20, in honor of Gov. Markham, of California, by Californians in "ex. ile." "The Consolidated National bank and the First National bank. of San Diego, suspended payment yesterday. Both banks are expected to resume shortly. Three privates of the Queen Victoria" Life Guards, who came to Chicago to take part in the British military touruament, have been sent to the poorhouse, owing to some misun. derstanding about their passage and their inability to take care of themselves. The conference at Pittsburg on June 20, of the joint committee of the Amalgamated Association of Iron and Steel Workers and the manu. facturers to fix a scale of wages, failed to agree, the manufacturers refusing to grant a 10 per cent advance for rolling steel. Another conference is to be held

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

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IN SAN DIEGO. Financial Stringency Causes the Suspen. sion of Three Banks. SAN DIEGO, Cal., June 21.-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 usual cause, financial stringency. and declares that the 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. The Consolidated is one of the largest, and had been considered one of the most substantial banks in town. Owing to a run. consequent upon the morning suspensions, the First National closed its doors this afternoon. It is thought to be amply able to meet all liabilities. No statement is now obtainable.

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

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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

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

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SAN DIEGO'S FLURRY. Indications That the Banks Will Pull Through. SAN DIEGO, June 21.-All of the local banks opened their doors at the usual hour this morning, and for the first half hour only the ordinary amount of business was transacted. It then became noticeable that there was to be an unusual demand from depositors for cashing of their deposits; several large checks being presented at Consolidated National by anxious individuals who feared a run, and hoped to forestall other depositors by early settlement of their accounts. As soon as it became apparent that a run had commenced payments were suspended at the Consolidated National and the Savings Bank of San Diego, which occupy the same building. News that these banks had closed spread quickly about the town, procipitating a run on the First National, Bank of Commerce and Savings Bank. The First National endured the pressure until after 1 o'clock, when the deors were closed. The San Diego Savings Bank being in the same building it was at first supposed it had also failed, but this proved incorrect and the doors were opened on demand of President Sefton and payment resumed. The run on the Bank of Commerce continued till the hour for closing, but it is understood that its resources have been greatly strengthened and the announcement is officially made that it will open in the morning. The Merchants' National, a bank recently established, has its paid up capital in cash in addition to nearly $100,000 deposits, and no fears are entertained of a run there. New deposits were opened there by those withdrawing elsew here. General confidence is felt that there will be no further trouble here. The announcement is made that the banks which suspended will pay depositors in full, but no statement of actual assets and liabilities can be secured. ANAHEIM, June 21.-The bank of Anaheim closed at noon. Depositors will all be paid in full.

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

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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.

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

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TROUBLE AT SAN DIEGO. Three of Its Banking Houses Go to the Wall. SAN DIEGO, Cal., June 21.-Following in the wake of the financial troubles in Los Angles, the Consolidated National bank suspended payment this morning. A notice on the door gives as the reason the financial stringency and declares depositors will be paid in full. The assets are said to be much larger than the liabilities, butno 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. The Consolidated is one of the largest and had been considered the most substantial in town. Owing to a run consequent upon the morning suspensions the First National closed its doors this afternoon. It is thought to be amply able to meet all liabilities. No statement is now obtainable.

8. June 23, 1893 The Herald Los Angeles, CA
Article from The Herald, June 23, 1893

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not available today; therefore the bank was forced to temporarily suspend. The assets exceed the liabilities by $50,000, exclusive of real estate, and the officers of the bank give ont that the assets are ample to secure all depositors. The Bank of Commerce directors reassembled after noon to consider the sitnation and at 3 o'clock decided upon a proposition which will be submitted to the depositors. Depositors aggregating over $50,000 in the bank were consulted as to the proposition which received their hearty endorsement. The directors propose to reopen and pay 10 per cent of all deposits demanded on resumption, 10 per cent in 30 days; 10 per cent in 60 daye ; 20 per cent in 90 days; 25 per cent in 120, and the remaining 25 per cent in 150 days. WASHINGTON, June 22.-Comptroller Eckles has appointed Frederick N. Pauley temporary national bank examiner and placed him in charge of the Firat National bank and the Consolidated National bank of San Diego, Cal., which closed down yeaterday.

9. June 24, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, June 24, 1893

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to suspend payment for the present. Should no satisfactory arrangement for an early continuance be affected the depositors will soon be paid in full, with interest, and the assets, if properly handled, will yield the shareholders $2,000,000 o 200 per cent. on the par value of the capital stock. The stock is held in wealthy hands representing millions of money and the liability is such on each shareholder as to prelude the possibility of loss to depositors. Our present liabilities outside of foreign capital and surplus are only about $1,600,000, and considerable of this is subject to reduction by offsets." PRESIDENT M'DONALD SHOCKED. NEW YORK, June 23.-Dr. R. H. McDonald, President of the Pacific Bank, who is in this city, was shocked when he heard to-day that his bank had closed. He said: "Though President of the bank, I have not been active in its management for some time. I am sufficiently familiar with the affairs of the institution, however, to feel confident that there is no chance for any of the depositors lose anything. I think it will liquidate for almost the amount of its capital and surplus, $1,000,000 and $800,000 respectively. The bank had gone into no speculative enterprises up to the time of my departure. Of the local business we had a fair percentage, with an extraordinary number of correspondents out in the country. It was heavy drafts made by country banks, I presume, which forced the suspension." " CONFIDENCE RESTORED AT SAN DIEGO SAN DIEGO, June 23.-Confidence is being rapidly restored intbank matters. E. S. Babcock, President of the Coronado Beach Company, announced this morning that he will accept checks on the Banks of Commerce and on the First National Bank at their full face value for various lines of merchandise and supplies carried on in the company's warehouse and for books of tickets of the street-car and motor lines. The Bank Examiner is making good progress in examining the Bank of Commerce and expects to conclude this afternoon. The plan for percentages-10 per cent. on resuming, 10 more in sixty and ninety days-is considered as good as adopted, and it is expected the bank will be open Monday. The new Merchants' National Bank, which is crowded with depositors, is enabling business to be transacted as usual. There were individual deposits of $261,000: demand certificates of deposit, $89,470. In the last five days between $100,000 and $200,000 in cash have been paid out over the counter. The run on the Farmers' Exchange Bank resulting in the closing of its doors, caused the excited depositors to call for their money at the First National. Monday night the craze had subsided and it was thought that the bank had weathered the storm, but when SO many banks failed in Los Angeles and other places on Wednesday and Thursday, a run on the First National Bank started in anew. The resources of this bank, backed as they are by men of wealth, are fully ample to pay depositors dollar for dollar, and it will be but a short time before it will reopen its doors. This bank and the Farmers' Exchange have pursued a liberal but careful policy in supporting the principal industries of this community, and the citizens are deploring the misfortune that has befallen them. Had not a similar craze been operating in Los Angeles, the First National Bank would have found no difficulty in obtaining cash to meet all demands. The President of the bank, Joseph Brown, stated shortly after closing that the bank would resume business in a short time A notable feature of the run on bank has been that irrehave last sponsible this parties throughout stories several the five been on street the and pay days depositors discrediting circulating advising bank's fellows everybody ability have the to to draw his money. These been openly denounced by others, but to no effect. The craze was on, and nothing, seemingly, could stop it. Everybody concedes the ability of the First National to meet all its obligations, and now there is little or no excitement on the streets. Theother banks- the San Bernardino National and Bank of San Bernardino-areconsidered impregnable, and no further trouble is anticipated. COULD NOT STAND THE RUN. SAN BERNARDINO, June 23. The First National Bank of San Bernardino, which has withstood the run for the last five days with such fortitude, was to-day compelled, shortly after having opened to the to and to to the stringency money depositors "Owing doors, post following close of the its notice doors: and the unusual of the last this deposits market during five withdrawal days, bank is forced to close its doors temporarily." The officers of the bank are: Joseph President; H. O. H. Kohl, are: rectors President; Brown, Joseph Brown, B. Cashier. Garner, H. Brink- Its di- Vice- J. meyer, J. W. Hall, O. H. Kohl, W. Curtis, L. D. Crandall, H. B. Garner, J. Flanders and John M. James. a $100,It a has surplus paid-up capital $25,000 stock and of 000, fund of undivided profits of $7,995. BANK OF MADERA. MADERA, June 23.-The Bank of Madera failed to open its doors this morning.

10. June 25, 1893 New-York Tribune New York, NY
Article from New-York Tribune, June 25, 1893

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THE BROKEN PACIFIC COAST BANKS. BAD MANAGEMENT IN SAN FRANCISCO-SIGNS OF IMPROVEMENT VISIBLE. San Francisco, June 24.-The Concrete opinion of the bankers of San Francisco is that the Pacific Bank was compelled to suspend payment because It made unwise Investments In securities from which it could not get out its money. and that the People's Home Savings Bank was compelled to suspend because it had not on hand coin enough to stand the run sure to follow the announcement of the suspension of the Pacific Bank, its business associate. In other words. the failure of the Pacific Bank was not more due to the present financial troubles than to fundamental weakness in Its management. The flurry seems to have passed in this city, and no anxiety is felt that other banks will succumb. Bankers say they have ample funds to meet all demands. The run on the Union Savings Bank continues to-day, though with less excitement than yesterday. There was also a run on the Hibernia Bank to-day. Seattle, Wash., June 24.-A special from New Whateom says: Inability to realize on gilt-edge securities forced the Columbia National Bank to close its doors yesterday morning. Their assets are placed at $226,762. with liabilities not exceeding $100,000. Confidence is felt In the other banks and no further trouble Is expected. The Columbia Bank Is capitalized at $100,000. The Controller of the Currency has been advised and will take charge of the affairs of both the Columbia and the First National, which suspended yesterday. The cashier of the falled First National Bank says the assets are $428,000: liabilities, $110,000. San Bernardino. Cal., June 23.-The First National Bank closed its doors yesterday after undergoing a run for the last five days. Washington, June 24.-Controller Eckels this mornIng received a telegram from the San Bernardino Bank asking permission to reopen. He answered that he would consider the request when his examiner made Bank Examiner Lazaer, who is at Los report. Angeles, has been directed to take charge of the San Bernardino Bank. while Mr. Wightman, the examiner "ii San Francisco. will relleve bim at the first named place. Bank Examiner Clarey, of Tacoma, has been directed to go to New-Whatcom. Application has been received by Controller Eckels from all the banks in Spokane requesting him to allow the Washington National Bank of Spokane to reorganize. The Board of Trade of San Diego, Cal., and the president of the dispended First National Bank of that place, have requested that the bank be allowed to resume busttress. The request will be considered when the exuniner's report Is in. Los Angeles, Cal., June 24.-The East Side Bank opened Its doors this morning. This 13 the first of the closed banks to resume. A feeling of confidence has returned. The other banks will open on Monday, except the City Bank, which is in the hands of a recelver.

11. June 25, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 25, 1893

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Washington National bank of Spokane to reorganize. The board of trade of San Diego, Cal., and the president of the suspended First National bank of that place, have requested that the bank be allowed to resume business. These requests will be considered when the reports are in.

12. June 29, 1893 The Herald Los Angeles, CA
Article from The Herald, June 29, 1893

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STILL CLEARING UP. The Suspended Banks Getting in Fine Shape. The financial situation yesterday was about the same as the day before. Examiner Wightman was hard at work on the securities of the First National bank, and was finding everything in good condition as he proceeded. President Elliott said they were waiting now the result of his efforts and the sanction of the comptroller of the currency to reopen. "We hope to open some time next week," said he, "but it depends upon how soon we will be allowed to by the authorities at Washington. The plan for the reorganization of the bank is progressing nicely, and we will have plenty of coin and backing when our doors open again. At the University bank collections were still coming in, and it is the intention of the management to open just as soon as they have a sufficient amount of money on hand. "We don't intend to open," said one of the officials yesterday, "until we have enough money on hand to meet all demands, whether there is a run or not." The officers of the Southern California bank are patiently waiting to hear from Washington, which it is hoped will be next Monday. They stated there was every probability that they would open on the following Tuesday. Everything is in readiness, and they have lots of coin. At the Los Angeles National everything was quiet and the deposits are increasing as each day rolls on. Major Bonebrake is still receiving congratulations on the pluck and ingenuity with which he managed the late run. J. E. Fiehburn, the assistant cashier of the First National bank of San Diego, is in the city and said yesterday that the closing of the First National was directly due to the shutting down of the Consolidated, which took them by eurprise and transferred the run to their bank. "The simple trouble was," he said, "that we had not coin enough to meet the demand made on us. We can pay $3 to $1 on all claims now held against us and will be open again for buriness within three days from this time."

13. June 29, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, June 29, 1893

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STRAY SPARKS. The contest for army rifle prizes will take place Sept. 18, this year, at Fort Sheridan, III. So ends a celebrated case. It is announced that the Wanamaker suit on behalf of the stockholders for an injunction to close the fair will be pushed; but inasmuch as the supposed equities of that case are virtually merged in the decision just rendered the The announcement is unimportant. fair will be open on all Sundays up to and including Oct., 29. The Consolidated National bank or San Diego, Cal., has suspended payment and the First National, Broadway and East Side banks are also closed. Fire destroyed the Bunnell block, Duluth, early yesterday morning and four dead human bodies have already been found in the ruin. The Duke of Veragua has written a letter to Secretary Gresham taking leave of the United States and expressing gratitude to congress and the people.

14. June 30, 1893 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, June 30, 1893

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STRAY SPARKS. The contest for army rifle prizes will take place Sept. 18, this year, at Fort Sheridan, III. So ends a celebrated case. It is announced that the Wanamaker suit on behalf of the stockholders for an injunction to close the fair will be pushed; but inasmuch as the supposed equities of that case are virtually merged in the decision just rendered the The announcement is unimportant. fair will be open on all Sundays up to and including Oct., 29. The Consolidated National bank or San Diego, Cal., has suspended payment and the First National, Broadway and East Side banks are also closeì. Fire destroyed the Bunnel block, Duluth, early yesterday morning and four dead human bodies have already been found in the ruin. The Duke of Veragua has written a letter to Secretary Gresham taking leave of the United States and expressing gratitude to congress and the people.

15. July 1, 1893 The Dalles Times-Mountaineer Dalles, OR
Article from The Dalles Times-Mountaineer, July 1, 1893

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Easier Feeling in San Diego. SAN DIEGO, Cal., June 26 -Throughout the bank p&nic* which began here last Wednesday, the Bank of Commerce, of which Dr. R. M Powers is president, has been conducted in a way to steadily hold the lead in public confidence. This morning there was quiet rejoicing throughout the city on finding that its doors, which had been closed but three days, were again open and busine-s proceeding as usual. The first 15 minutes deposits of over $3000 were received and only about $100 paid out, and there were more deposits all through the day. than drawings of cash. F. N Pauly, whose instructions from Comptroller Eckles were to take possession of the two national banks, yesterday received instructions to examine and report as speedily as possible. He is now at work in the First National, and will be ready in two or three days to examine the Consolidated National.

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

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SEVERAL BANKS CLOSE THEIR DOORS. Albuquerque, N. M., July 3.-The following nottee was posted on the door of the Albuquerque National Bank this morning: "The Albuquerque National Bank is compelled temporarily to suspend business. This has been brought about by unusual demands of depositors since the suspension of the California banks about ten days ago, and the absolute impossibility during the present business depression to call in our loans. It is confidently hoped that we can resume business. and that every creditor will be paid in full, as the assets greatly exceed the liabilities." Golden. Col. July 3.-The McPherson County Bank made an assignment for the benefit of its creditors this morning. "Impossible to collect on notes outstanding" is given as the cause of the failure. No statement.as to assets and liabilities has so far been made public. Washington, July 3.-Controller Eckels is informed that the National Bank of Commerce of Provo, Utah. and the First National Bank of ouray. Col.. closed their doors to business on last Saturday. He is also advised that the First National Bank of San Diego. Cal. which fatled about a month ago. will resume business on next Wednesday. It is probable also that the falled Washington National Bank of Spokane, Wash. will resume business in A committee representing the about ten days. stockholders and officers of the failed First National Bank of Arkansas City, Kan., had an audience with Controller Eckets this morning looking to the reopening of that institution it will also probably be abi to resume business in a short time. Phillipsburg, Mont, July 3. The First National Bank closed its does on Starday m riving. There is no doubt of the solveney of the institution. and as soon as matters are 8 raightened out business will be resume

17. July 5, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 5, 1893

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WILL OPEN TO-DAY. National Bank of San Diego Will Resume. SAN DIEGO, July 4-Bank Examiner Pauly. who has had charge of the recently suspended First National Bank, received instructions this morning from Comptroller Eckels to turn the bank over to its officers, and the bank will therefore resume business as usual to-morrow morning, This will faciliate the opening of the Consolidated Bank.

18. July 6, 1893 The Sun New York, NY
Article from The Sun, July 6, 1893

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A Bank Resumes Business. SAN DIEGO, Cal.. July 5.-In accordance with the instructions of Comptroller Eckels. the First National Bank of this city. which suspended on June 22. resumed business this morning. Absolute confidence is established and heavy deposits are being made. with no withdrawals.

19. July 7, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, July 7, 1893

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Confidence Restored In California. SAN DIEGO, Cal., July 6.-In accordance with the instructions of Comptroller Eckels. the First National bank of this city, which suspended on June 32, has resumed business. Absolute confidence is established, and heavy deposits are being made with no withdrawals

20. July 7, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 7, 1893

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WILL SOON RESUME. Two of the Suspended Los Angeles Banks to Open Very Soon. WASHINGTON, 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 a few days. The comptroller is also informed that the First National bank of San Diego, Cal., which re-opened for business yesterday, received deposits to the amount of $25,000, as against withdrawals of $8,000. This is regarded as evidence of returning confidence. The National bank of Spokane reopened for business this morning.

21. July 29, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 29, 1893

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Of the Closed Banks Thirty-Seven Have Gone Into the Hands of Receivers and Fourteen Have Already Resumed Business. Greatest Stringency Now Appears to Concern Iron and Fabric Mills. Hardly a Big Enterprise in Either Line, Whether in New England or the Central States,That Has Not Partly Closed Down. STATEMENT FROM ECKELS. Summary of the National Bank Failures and Where Located. WASHINGTON. July 28.-"Recent dispatches having appeared in the newspaDers." said Controller of the Currency Eckels to-day, "that since Jan. 1, 1898, two hundred national banks have failed, I have prepared a statement that the public may be properly informed. Instead of two hundred having closed their doors but 105 have gone into the hands of the Controller of the Currency. Fourteen of this number have already resumed business under favorable conditions. During the ensuing week it is expected several others will have complied with the requirements of the Controller and reopen, while, prior to Sept. 1, an equal number will resume. Out of the total 105 closed, but thirty-seven have gone into the hands of receivers, the balance either having reopened or are still in the hands of examiners with strong prospects of reopening. Five of the 105 banks are capitalized in the amount of $1,000,000 each; one at $600,000, SIX at $500.000; thirty-six at $50,000 and the remainder at $300,000, $250,000, $100,000 and less, but more than $50,000. The greater number, however, are from $100,000 to $150,000. By geographical sections the failures are distributed as follows: New England States, 2; Eastern States, 2; Middle and Mississippi Valley States, 15; North west, 6; Western States, 55; Southern States. 25; total. 105. Twenty-one States and Territories have _reported no national bank failures as follows: Alaska, Arkansas, Arizona, Connecticut, Delaware, District of Columbia, Idaho, Indian Territory. Louisiana, Maine, Maryland, Massachusetts, Minnesota. Nevada, New Jersey, Pennsylvania, Rhode Island. South Carolina. Vermont, Virginia and West Virginia. No national banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg. Baltimore, Washington, Buffalo, Cincinnati, St. Louis, New Orleans, San Francisco, Minneapolis, St. Paul and numbers of other great commercial centers. Only one has closed in New York, two in Chicago and one in Milwaukee. The cause of the failure in New York and Chicago was due largely to mismanagement. as were a number 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. Atlanta. Ga.: First, Los Angeles, Cal.; First, San Diego, Cal.; First, Santa Anna, Cal.; First. San Bernardino, Cal.; the Southern California. Los Angeles, Cal: Merchants', Fort Worth. Tex.: Second, Ashland, Ky.; Capital, Indianap. olis, Ind.: First, Palouse City, Wash.; Washington. Spokane Falls. Wash.: National. Provo City, U. T.: First, Cisco, Tex.; Missouri, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent and only closed through an unwarrented lack of confidence in them causing disastrons runs. There are at this date 3,752 national banks in operation.

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

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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.

23. September 3, 1893 The Times Richmond, VA
Article from The Times, September 3, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. WASHINGTON, D. C. Sept. 1.Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000; First National Bank, Palouse city, Wash., $75,000: Southern California National Bank, Los Angeles, Cal: $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Den ver $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, Col.,$600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmer's National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $200,000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000: Waxabachee National Bank, Waxabachee, Tex., $100,000; Citizen's National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.

24. November 15, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, November 15, 1893

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APPEALS DECIDED. Knotty Points Solved in Seven Cases. SOME IMPORTANT POINTS. Grant Case Reversed - Fraudulent Land Entry-A Banking Question-Coal Duties. Seven decisions were rendered by the United States Circuit Court of Appeals yesterday morning. In two cases the actions of the lower courts were reversed, but in all the others they were affirmed. The two cases in which adverse decisions are rendered were the United States VS. Hillyer, appealed from Alaska, and Grant vs. the United States, appealed from Oregon. The Hillyer case was an action by the Government against the bondsmen of the Marshal of Alaska, to recover about $4000 wrongly retained by that official as fees. The lower court awarded the Government about $2100, but an appeal was taken on the ground that the court was in error in allowing the Marshal to have the balance. The contention of the Government was sustained. The Grant case was noted at length by THE CALL a short time ago. Grant was a boarding-master at Asteria and induced some sailors to change their minds after they had signed articles to ship on a British vessel for a voyage to England. The men signed at this port and went to Astoria on the steamer Queen. When they arrived there Grant induced them o stay away from their vessel. His reason for 80 doing, it was said, was that he had had some trouble with the captain of the Britisher. Action was brought against Grant by the Government to recover the penalty, under the law. for harboring deserting seamen, and the lower court awarded it quite a sum, from which Grant appealed. The action of the Court of Appeals on this case was a very important one. jndge Deady's opinion in 1872 was brought to bear upon the matter by the decision. Judge Deady then held that the statute providing a penalty for the harboring of desertingseamen applied only to American vessels. Accordingly the judgment of the court below was reversed. Four cases in which the judgements of the courts below were affirmed were the United States vs. Alien, Brown vs. Puget Mill Company, Northern Pacific Coal Company vs. Richmond, Pauly VS. Union Loan and Trust Company. The case of the United States vs. Allen is the.one in which Judge Ross gave his celebrated decision about two years ago, declaring that a rebate of duties should be allowed upon imported coal used by American steamers. The Appellate Court held with Judge Ross. In the controversy of Brown VS. Puget Mill Company, the important question of whether a purchaser of land must always suffer because of the dishonesty of a locator was involved. A homestead had been located under a fictitious land warrant, the person to whom it was represented to have been issued being fictitious. too, and the location of the land was made under a forged power of attorney. The mill company acquired the land in good faith. There is a curative statute making valid certain entries of the kind in question, but it was held that it could not be made to apply to an entry 80 false and fraudulent as was this one in its inception. The case of the Northern Pacific Coal Company vs. Richmond involved an award of $8000 damages. A 14-year-old boy had lost his arm in the coal mine of the appellant by being thrown under a truck. The award was made by Judge Hanford in the District of Washington, and Judge Gilbert sustained it. A banking question was settled in the disposition of the appeal of Receiver Pauly of the defunct First National Bank of San Diego against the Union Loan and Trust Company of Los Angeles. Pauly had sued to recover about $20,000 on stocks said to have been held by the Loan and Trust Company in the suspended bank, his action being based on the assessment made, as Is usual in such bank failures, by the Comptroller of the Currebey, but the defendant demonstrated that it simply held the stock in trust as a pledgee, the stock being collateral for a note owed by third parties to it. The position is sustained by the Appellate Court.