Spring Garden National Bank (Philadelphia, PA)

View Charter #3468 on SPMC View balance sheet

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
May 8, 1891
Location
Philadelphia, Pennsylvania (39.952, -75.164)
Bank Type
national
Charter Number
3468

Metadata

Episode ID
Bank ID
City ID
421209052
Model
gpt-5-mini
Short Digest

Response Measures

Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Receivership Details

Depositor recovery rate
25.7%
Date receivership started
1891-05-21
Date receivership terminated
1901-12-09
OCC cause of failure
Fraud
Share of assets assessed as good
12.1%
Share of assets assessed as doubtful
23.9%
Share of assets assessed as worthless
64.0%

Notes

Closed by Comptroller and placed in hands of a receiver; later receiver actions and arrests reported.

Events (5)
1. March 13, 1886 Chartered
Source
historical_nic
2. May 8, 1891 Run
Cause
Bank Specific Adverse Info
Cause Details
Large withdrawals during the prolonged financial stringency and weakening credit/reserve position; depositors gathering and demanding admittance
Measures
Bank placed in hands of National Bank Examiner W. B. Drew; notice posted closing bank by order of Comptroller
Newspaper Excerpt
News of the suspension spread through the city like wildfire, and ... the frightened depositors began to gather around the bank building
Source
newspapers
3. May 8, 1891 Suspension
Cause
Government Action
Cause Details
Closed by order of the Comptroller of the Currency / National Bank Examiner due to inability to meet withdrawals and weak reserves
Newspaper Excerpt
This bank is closed by order of the controller of the currency until further notice. W. B. DREW, National Bank Examiner.
Source
newspapers
4. May 21, 1891 Receivership
Newspaper Excerpt
General Fisher, receiver of the Spring Garden National bank, said this afternoon that his estimate ... the assets of the bank would pay upwards of 50 per cent.
Source
newspapers
5. May 21, 1891 Receivership
Source
historical_nic

Newspaper Articles (24)
1. May 9, 1891 The Morning News Savannah, GA
Article from The Morning News, May 9, 1891

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A BANK SHUTSIIS DOORS. THE SPRING GARDEN NATIONAL OF PHILADELPHIA FAILS. The Crash followed by the Suspen8 on of the Penn afe Deposit and Trust Company-The Failures a Eurprise to the Public-Fair Rep rts at the Last Showing. PHILADELPHIA, May 8.-Under an order received from Controller of the Treasury Lacey the doors of the Spring Garden National Bank were cl sed at 11 o'clock this morning. News of the suspension spread through the city like wildfire, and it was not long before the frightened depositors began to gather around the bank building at Twelfth and Spring Garden streets. Scarcely had the announcement of the failure of the Spring Garden bank been made before there was a rumor afloat that the Penn Safe Deposit and Trust Company, also located at Twelfth and Spring Garden streets, had also suspended payment. A SURPRISE. To the general public the crash was a great surprise, for at the last sale of Spring Garden' bank stock on April 28, 1891, the price obtained was $121 50, which is exactly $21 50 above par. The capital stock of the institution was quoted at $750,000 and there was supposed to be a surplus of $130,000. A dividend of 21/2 per cent. was paid upon the capital stock at the last annual meeting and the bank was therefore generally supposed to be sound. THE CITY CAUGHT. The bank is a large depository of the city's money. According to the statement of City Treasurer Bardsley he has $144,000 on deposit in the institution. The officers of the bank are: President, Francis W. Kennedy; cashier, Henry H, Kennedy; assistant cashier, S. A. McClure. The board of directors were Francis W. Kennedy, Nathan Middleton, Ephraim Turland, Nelson F. Evans, Ephraim Young, Robert C. Thomas and John B. Stetson. At 11:30 the following notice was placed upon the door: This bank is closed by order of the controller of the currency until further notice. W. B. DREW, National Bank Examiner. A STATEMENT BY THE PRESIDENT. When the people gathered immediately af er the doors had closed, President Kens nedy looked outof a side door and called out that he had no statement to m ke. As soon as he had finished speaking ne disappeared inside, amid the shou S and jeers of t e disappoint crowd. Later he gave out the following statement: We have this morning decided to place the bank in the hands of Mr. Drew. the national bank examiner. This step has been forced upon us principally by reason of the large withdrawal of deposits during the financial stringency which commenced last September, and the continued dullness of general business since. To meet these demands and maintain our reserve it was found impossible to realize rapidly enough upon the assets. We have been below our reserve for some weeks past, and can see no immediate prospects of increasing it. We still owe a balance to the clearing house committee for outstanding loan certificates, the payment of which is being pressed These facts, coupled with the disturbances of the past week, have caused increased weakness on the part of some of our depositors, together with weakening of our credit with other banks. We trust that the suspension will be only temporary. FRANCIS W. KENNEDY, President. THE TRUST COMPANY. The Penn Trust Company is now a state institution, but it was originally an outgrowth of the bank in this city. The stockholders of the bank are also largely stockholders of the trust company. Samuel B. Huey was consulted by persons interested and connected with the trust company 88 to the di

2. May 9, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, May 9, 1891

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ANOTHER BANK GONE. The Spring Garden of Philadelphia Forced to Stop Business. BANK EXAMINER DREW CLOSES IT. Again Philadelphia City Is a Loser to the Extent of $144,000. PENN TRUST COMPANY ALSO ASSIGNS ISPECIAL TELEGRAM TO THE DISPATCH.1 PHILADELPHIA, May 3.-National Bank Examiner Drew, by order of the Controller of the Currency, to-day closed the doors of the Spring Garden National Bank, at Twelfth and Spring Garden streets. The Penn Trust and Safe Depost Company, an institution doing business in the same building and having practically the same set of officials, went into the ha nds of an assignee. While the President and other officers claim that the chances of the bank's resuming business are good and that the suspension would be only temporary, the general impression on the street is that the affairs of the bank are in very bad shape. No detailed statement was made public to-day, and President Kennedy said that it would be impossible to prepare one for-several days. Bank Examiner Drew took charge of the bank at 11:30 o'clock; at 1 o'clook closed the doors and soon afterward a squad of police marched up and took up their stations around the bank. The news of the closing of the bank spread quickly and within half an hour there was a crowd about the building, that steadily increased. Men and women with bank books in their hands thronged about the doors demanding admittance. Philadelphia Caught for 8144,000. To all the same answer was returned: "No one is allowed inside." Meanwhile all sorts o! rumors were set afloat regarding the condition of the bank and the causes which led to its closing. Many indignant depositors claimed that they had deposited money in the bank within a half hour of the time of the closing. Again the city is caught in the ruin, the Spring Garden Bank having been named as one of the depositories of the city's money, and when the doors closed there was $144,000 on deposit there. City Treasurer Bardsley and City Controller Thompson were both at the bank during the afternoon, but both claimed to know nothing of the causes which led to the suspension, and had very little to say about the suspension. Mysterious rumors connecting the defunct Keystone Bank with the suspension are afloat and together with the reports that are current regarding the affairs of the closed bank and its management, have created great excitement, At 12 o'clock the suspension was announced at the Clearing House, and the news: circulated throughout the business centers rapidly. Causes of the Failure. Each car which arrived brought people to swell the crowd, which it required the entire efforts of the police to keep moving. No one was admitted to the bank, and all the satisfaction the public got out of repeated inquiries at the door as to the cause which led to the closing of the bank was the following statement, issued by President Kennedy shortly after 12 o'clock: We have this morning decided to place the bank in the hands of Mr. Drew, the National Bank Examiner. This step has been forced upon us principally by reason of thelarge withdrawal of deposits during the financial stringency which commenced last September, and the continued dullness of general business since. To meet these demands and maintain our reserve. it was found impossible to realize rapidly enough on the assets. We have been below in our reserve for some weeks past, and can see no immediate prospect of increasing it. We still owe a balance to the Clearing House Committee for outstanding loan certificates, the payment of which is being pressed. These facts, coupled.with the disturbances of the past week, have caused increased uneasiness upon the partof some or our depositors, together with the weakening of our credit with the other banks. We trust that the suspension will only be temporary. Finances of the Bank. The bank's stock was quoted two days since at 121, par $100, and on Tuesday last it declared a dividend of 2½ per cent on its capital of $750,000 and carried $2,500 to its surplus fund, making its total surplus $132,500. The last statement of the bank, under the Controller's call showed loans and discounts $2,170,028 18; National bank notes outstanding, $45,000; individual deposits, subject to check, $1,998,830 34; demand certificates of deposit, $8,000; undivided profits, $41,725 04. The officers of the bank are F. W. Kennedy, President; H. H. Kennedy, Cashier; N. Middleton, Vice President. It is supposed that the Kennedy family was largely interested in various real estate operations. Some years ago, when the Spring Garden was a State institution, the Kennedys were heavily interested in real estate at Bradford Hills, near Downington. The Spring Garden Bank was established in 1871 under the State banking law and continued in operation as a State bank for a period of 14 years. In the fall of 1885 the institution was reorganized as a National bank. The Penn Safe Deposit and Trust Company, which was an adjunct of the Spring Garden National Bank, is a State institution, and was incorporated November 8, 1870, with a capital of $125,000, par $100. No dividends have ever been paid.

3. May 9, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, May 9, 1891

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ANXIOUS DEPOSITORS. THE PHILADELPHIA TRUST COMPANY CLOSES DOWN. The Comptroller of the Currency Orders the Doors of the Spring Garden National Bank Closed. PHILADELPHIA, PA., May 8.-The Pennsylvania trust company, which has its office in the Spring Garden national bank building, made an assignment this afternoon. The National trust company, which made an assignment this morning is really a part of the bank that is said to be solvent, the assignment being simply for the protection against a run. The capital stock of the bank is $750,000, fully paid in, and by the February statement the reserve fund amounted in round figures to $150,000. On Tuesday last the bank declared a semi-annual dividend of 21/2 per cent, and the stock sold at $1.21, par being $100. The bank's line of deposits amounted to about $2,000,000, and the city of Philadelphia, who has $400,000 locked up in the broken Keystone bank, again suffers to the extent of $154,000. SPRING GARDEN NATIONAL OF PHILADELPHIA. PHILADELPHIA, Pa., May 8.-Another of Philadelphia's national banks closed its doors this morning by order of the comptroller of the currency. After doing business for one hour and a half this morning the Spring Garden national bank closed its doors and posted the following notice: "By order of the comptroller of the currency this bank is closed until further notice. W. P. Drew, national bank examiner." The news of the closing of the bank spread rapidly and a large crowd soon collected, but admittance was denied to all. In answer to requests sent to President Kennedy asking for some information as to the reason of the bank closing, the following note was sent out: "We have this morning decided to place this bank in the hands of Mr. Drew, national bank examiner. This step has been forced upon us, principally by the large withdrawal of deposits during the financial stringency, which commenced last September, and the continued dullness of business since. To meet these on OUR reserves, it was found impossible to realize apidly on our assets. We have been below 111 our reserve for some weeks past, and can see no immediate prospects of increasing it. We still owe a balance to the clearing house committee for outstanding loan certificates, payment of which is being pressed. These facts, coupled with the disturbances of the past week, have caused increased uneasiness on the part of some of our depositors, together with a weakening in our credit with other banks. We hope the suspension will only be temporarily. W. F. KENNEDY, President."

4. May 13, 1891 The Climax Richmond, KY
Article from The Climax, May 13, 1891

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Another Philadelphia Bank Failure. The Spring Garden national bank, of Philadelphia, has been closed by the comptroller of the currency. The Penn Safe and Trust Deposit Co. assigned, its interests being mingled with those of the bank.

5. May 16, 1891 Macon Beacon Macon, MS
Article from Macon Beacon, May 16, 1891

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Another Philadelphia Bank Failure. The Spring Garden national bank, of Philadelphia, has been closed by the comptroller of the currency. The Penn Safe and Trust Deposit Co. assigned, its interests being mingled with those of the bank.

6. May 16, 1891 The Ohio Democrat Logan, OH
Article from The Ohio Democrat, May 16, 1891

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Another Philadelphia Bank Failure. The Spring Garden national bank, of Philadelphia, has been closed by the comptroller of the currency. The Penn Safe and Trust Deposit Co. assigned, its interests being mingled with those of the bank.

7. May 27, 1891 The True Northerner Paw Paw, MI
Article from The True Northerner, May 27, 1891

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Creoked Financiering. President Francis M. Kennedy and Cashier H. H. Kennedy, of the suspended Sprin ! Garden National Bank. were arrested, at Philadelphia, charged with receiving deposits at a time they knew the bank was insolvent.

8. May 28, 1891 The Farmers' Union Memphis, MO
Article from The Farmers' Union, May 28, 1891

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# THE CRIMINAL RECORD. -One of the most fiendish crimes ever known in Kentucky is reported from Sandy Hook, the seat of Elliott County. A young school teacher, Miss Maude Eleanor, was thrown from a horse, frightened by two Wilcox brothers, each of whom the girl had refused to marry. With a leg and arm broken she was chained in a deserted cabin, where she had been kept a prisoner since the middle of April, and, slowly dying, was made the victim of her captor's desires. A posse, headed by her brother, found the girl, who died fifteen minutes later. The Wilcox brothers were captured, confessed, and were promptly shot to death. -On Sept. 28 last the stage from Eureka Springs to Harrison, Ark., was robbed. The Postoffice Department is just advised that Inspector Beebe, of the St. Louis division, located the robbers, obtained evidence of their guilt, arrested them and secured confession that they committed the robbery. The names of the robbers are Walter Markley and Mrs. L. B. Rose. The Inspector is now en route to Fort Smith, Ark., with the prisoners. -James Kane was hanged at Belleville, Ont., for the murder of his wife Elizabeth. When the drop fell Kane's neck was not broken, and he slowly strangled to death. His groans were horrib e to listen to. The prisoner mounted the scaffold with a firm step, and was pale but composed until the end. -At Philadelphia, Francis M. Kennedy, President, and Henry H. Kennedy, cashier, of the suspended Spring Garden National Bank, were arrested on the charge of receiving deposits after they knew the bank was insolvent. -Tennis Hampton, colored, charged with the murder of E. H. Webber, in 1889, was lynched by a mob at Beardsley's, La. -Two young men, named Johnston and Coward, became involved in a quarrel, in Jonesboro, Ark., when Johnston's father came to the rescue, separating the yo ng men. Coward then turned on the peace-maker and fatally stabbed him, whereupon young Johnston shot Coward twice. Both will die. -Elbogen, the theatrical agent who was convicted on the charge of sending girls to so-called dives in New Orleans for immoral purposes, was sentenced to State Prison for five years and eleven months. An application has been made for a stay in the Supreme Court pending an appeal for a new trial. At Shreveport, La., Jane A. Ware, a colored girl aged 16, was driven on the railroad track at the point of a pistol by John and William Anderson, colored, and held there until a train was so near that it was impossible for the girl to escape. A posse is in pursuit of the murderers. -The jury in the case of Captain Loar and deputies, charged with murder at the Morewood (Pa.) riots, after deliberating five hours, returned a verdict acquitting all the defendants. At Fergus Falls, Minn., the jury in the Goheen murder case rendered a verdict of guilty of murder in the first degree. -The decomposed body of Frank Lupesky was found hanging to a sapling near Caldwell, Kan., with a bullet hole through his neck. He is supposed to have been murdered for his money.

9. May 28, 1891 The Telegraph-Courier Kenosha, WI
Article from The Telegraph-Courier, May 28, 1891

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Crooked Financiering. President Francis M. Kennedy and Cashier H. H. Kennedy, of the suspended Spring Garden National Bank, were arrested, at Philadelphia, charged with receiving deposits at a time they knew the bank was insolvent.

10. May 28, 1891 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, May 28, 1891

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Crooked Financiering. President Francis M. Kennedy and Cashier H. H. Kennedy, of the suspended Spring 4 Garden National Bank. were arrested, at Philadelphia. charged with receiving deposits at a time they knew the bank was insolvent.

11. June 2, 1891 The Dalles Daily Chronicle Dalles, OR
Article from The Dalles Daily Chronicle, June 2, 1891

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TODAY'S FAILURES. Go Down with the Bank. Philadelphia, June 2. - Christian Van Gunden and Ephram Young, marble workers, have assigned. No statement is obtainable. Young was a director in the Garden National bank. The downtall of that institution caused the failure.

12. June 2, 1891 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, June 2, 1891

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ASSIGNMENTS. TRENTON, N.J., June 2.-Philip Bunn, treasurer of the Star Rubber Co. has resigned his position as president of the first National Bank and made an assignment of his large clothing establishment. MONTREAL, June 2.-G. Lewis, cloak importer, has assigned. Liabilities, $50,000. PHILADELPHIA, June 2.-Christian Van Gunden and Ephram Young, marble works has assigned No statement is obtainable. Young was directorin the Garden National Bank. The downfall of that institution caused his failure. BOSTON, June 2.-Talbot Wilmarth and Co. wholesale manufacturers of woolen goods have assigned.

13. June 3, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, June 3, 1891

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BUSINESS FAILURES. Assignment of Wholesale Woolen Manufacturers-Results of a Bank Suspension. BOSTON, June 2.-Talbot, Wilmarth & Co., wholesale manufacturers of woolens, have assigned. TRENTON (N. J.), June 2.-Philip P. Dunn, Treasurer of the Starr Rubber Company, has resigned his position as President of the First National Bank and made an assignment of his large clothing establishment. PHILADELPHIA, June 2.-Christian Van Gunden and Epran Young, marble-workers, have assigned. No statement is obtainable. Young was a Director in the Spring Garden National Bank. The down fall of that institution caused his failure.

14. June 3, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, June 3, 1891

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BUSINESS FAILURES. More Firms Go to the Wall In Eastern Financial Circles. PHILADELPHIA, June 2. - Christian VanGunden and Ephraim Young, marble workers, have assigned. No statement ia obtainable. Young was a director in the Spring Garden National bank. The downfall of that institution caused the failure. TRENTON, N. J., June 2.-Phillip P. Dunn, treasurer of the Star Rubber company, has resigned the position of president of the First National bank, and made an assignment of his large clothing establishment. BOSTON, June 2.-Talbot, Wilmarth & Co., wholesale manufacturers of woolens, have assigned. MONTREAL, June 2.-G. Lewis, cloak importer, has assigned. Liabilities, $50,000.

15. June 7, 1891 Fairhaven Herald Fairhaven, Bellingham, WA
Article from Fairhaven Herald, June 7, 1891

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Going for Bank Directors PHILADELPHIA, June 6-General Fisher, receiver of the Spring Garden National bank, will today cause the arrest of Ephraim Young and Nelson F. Evans, two of the directors of the broken bank. The charges upon which the men will be arrested are aiding and abetting In the fraudulent transactions which brought about the wrecking of the Spring Garden bank.

16. June 11, 1891 The Farmers' Union Memphis, MO
Article from The Farmers' Union, June 11, 1891

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# FINANCIAL AND INDUSTRIAL Christian Van Gunden and E. Young, marble workers, have made an assignment for the benefit of creditors, at Philadelphia. No statement of assets or liabilities can be obtained. Mr. Young was a director of the Spring Garden National Bank and the downfall of that institution caused the failure of his firm. -Incorporation papers were filed at Columbus, Ohio, for the Consolidated Oatmeal Company, with a capital stock of $3,500,000. All the oatmeal mills of the country are thus brought under one management, with headquarters at Akron. The Incorporators say that prices will probably be lowered. -The wholesale dry-goods and shoe firm of Connell, Hall, McLester & Co., of Nashville, Tenn., made an assignment. The liabilities are $473,000; assets, estimated, $725,000. -Representatives of Kentucky jeans manufactories, which operate 3,200 looms in Nashville, Evansville and other Southern cities, met at Louisville and determined to run only two-thirds time for the next fifteen weeks. This will reduce the output 50,000 pieces, valued at $60,000. The unsatisfactory condition of the trade is given as a reason. -The Indiana Midland strike, which tied up the west end of that road for thirty days and was thought to have been settled, is again at fever heat. The Sheriff of Montgomery County has made several successful attempts to restrain the strikers from interfering with the trains. He went with a posse of men to the scene of trouble again, with instructions that if necessary the State militia would be called into service. -R. G. Don's weekly review says: Trade is not very active, but almost everywhere hopeful. Failures at Bo-ton have made hoe manufacturers cautious. Hides are easy, dry goods quiet, and wool sales moderate. The exposures of official and banking misconduct at Philadelphia tend to make business inactive, and no life is seen in iron; wool is dull, though some concessions are made by Western holders. At Pittsburg a rise in iron is prevented by the reopening of some Mahoning and Shenango furnaces, and preparations of others; window glass is fairly active but flint is dull. At Cleveland iron is in more demand; trade is good in dry-goods, hardware and groceries, and dull in shoes. Some activity is noted at Cincinnati in clothing, and at Detroit trade is up to that of last year in volume, though the late season has made the wool movement slower than usual. Throughout the West and South the fine crop prospects give encouragement, almost the only complaint coming from New Orleans of drought in the adjoining region. In the Northeast continuous rains have made the prospects unsurpassed.

17. June 13, 1891 Wheeling Register Wheeling, WV
Article from Wheeling Register, June 13, 1891

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Never Backed Evans. WASHINGTON, June 12.-The attention of Mr. Nettleton, the Assistant Secretary of the Treasury, was called to the testimony to-day of Gen. W. E. Wagner, of Philadelphia, investigating the bank scandal. After reading it Mr. Nettleton said: "I never "backed" Mr. Nelson F. Evans or any other person as a candidate for the receivership of the suspended Keystone Bank of Philadelphia. After the bank has been closed some days, I suggested Mr. Evans. I had not a suspicion of any financial weakness or complications on the part of Mr. Evans, or of the Spring Garden National Bank until the annonneement of the failure of that bank. I suggested his name, simply because I had known him long and believed him every way fit. I have borrowed no money from the Spring Garden Bank, but it is probable that certain accommodation notes, on which I am responsible, are in that institution. If so, I am simply among the losers by the bank's failure, which I regret."

18. July 1, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 1, 1891

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Bank Failures to be Investigated. WASHINGTON, July 1.-Comptroller Lacey has sent a communication to Receiver Yardley, of the Keystone National Bank of Philadelphia, enclosing a communication to Mayor Stuart, which is the first notification that the Government is going to take action in the affairs of the Keystone and Spring Garden National banks. A rigid examination is to be made by the Government.

19. July 1, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, July 1, 1891

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Bank Failures to be Investigated. WASHINGTON, July 1.-Comptroller Lacey has sent a communication to Receiver Yardley, of the Keystone National Bank of Philadelphia, enclosing a communication to Mayor Stuart, which is the first notification that the Government is going to take action in the affairs of the Keystone and Spring Garden National banks. A rigid examination is to be made by the Government.

20. July 1, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 1, 1891

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gen Will Pay 50 Per Cent. PHILADELPHIA, Pa., June 30.-Gen. Fisher, receiver of the Spring Garden National bank, said this afternoon that his estimate made some time ago that the assets of the benk would pay upwards of 50 per cent, appeared to be very well founded-

21. July 2, 1891 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 2, 1891

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Will Get 50 Per Cent. PHILADELPHIA, July 2. - General Fisher, the receiver of the Spring Garden National bank, says that the estimate made by him some time ago that the assets of the institution would pay upwards of 50 per cent. appears to be well-founded.

22. December 5, 1891 The Carbon Advocate Lehighton, PA
Article from The Carbon Advocate, December 5, 1891

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Couldn't Meet Its Losses. READING, Dec. 2.-A receiver has just been appointed for the Alliance Mutual Fire Insurance company of this city. The receiver was appointed on the application of J. R. Jones, of Philadelphia, who claims that the company was insolvent, because it did not make good a claim held by the petitioner. The officers of the company admitted that it could not meet its losses. Philadelphia Dry Goods Men in Trouble. PHILADELPHIA, Dec. 3.-Judgments aggregating nearly $40,000 have been entered against the firm of Turner & Hoyt, dry goods dealers of this city. Ephraim Turner, a member of the firm, has been connected with the Spring Garden National bank, which was closed some time ago.

23. January 28, 1892 Evening Journal Wilmington, DE
Article from Evening Journal, January 28, 1892

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The Spring Garden Bank Again. PHILADELPHIA, Jan. 28.-An examination of the books of the suspended Spring Garden National bank has resulted in a discovery which seriously compromises three of the bank's directors and their arrests may follow.

24. December 18, 1892 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, December 18, 1892

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# Refused a New Trial. In the United States Circuit Court yesterday Judge Buffington refused a new trial in the case of B. F. Fisher, receiver of the Spring Garden National Bank of Philadelphia, against L. T. Yoder. The new trial was asked for on the ground that one of the jurors had removed from the district of the court before serving. The Court ruled that this was not sufficient for a new trial.