Merchants National Bank (Fort Worth, TX)

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Episode Information

Episode UID
363101093
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
36310 national
Charter Number
3631
Start Date
January 1, 1891*
Location
Fort Worth, Texas (32.725, -97.321)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
644fc1d068633b97

Response Measures

Capital injected, Full suspension, Books examined

Other: The bank underwent a reorganization involving a reduction of capital stock and the election of an entirely new board of directors and officers before reopening.

Description

The bank experienced two distinct suspension/reopening episodes (1891 and 1893). The 1891 episode was triggered by a run, while the 1893 episode was linked to internal litigation and the Panic of 1893.

Events (8)
1. February 1, 1887 Chartered
Source
historical_nic
2. January 1, 1891* Run
Cause
Rumor Or Misinformation
Cause Details
Rumors and withdrawals by foreign loan companies due to the alien land law.
Measures
The bank initially sought aid from other banks but eventually voted to close for reorganization.
Newspaper Excerpt
The trouble began six months ago when rumors caused a heavy withdrawal of $200,000 within fifteen days
Source
newspapers
3. July 20, 1891 Suspension
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by rumors and the alien land law led to a lack of available cash.
Newspaper Excerpt
The Merchants' National bank by a vote of the directors closed its doors this morning and the bank was placed in the hands of Bank Examiner Spaulding.
Source
newspapers
4. September 26, 1891 Reopening
Newspaper Excerpt
Condition of the Merchants' national bank of Fort Worth, Tex., on re-opening for business September 26, 1891: ... perfectly solid all the time, though forced to a temporary suspension:
Source
newspapers
5. May 18, 1893 Other
Newspaper Excerpt
stockholders of the Merchants' National Bank of Fort Worth ask for a receiver for the bank and an injunction to prevent the officers from longer acting. The potition alleges bribery and conspiracy to wreck the bank
Source
newspapers
6. June 5, 1893 Suspension
Cause
Macro News
Cause Details
Systemic financial panic (Panic of 1893) and internal management disputes/litigation.
Newspaper Excerpt
Comptroller Eckels has received information that the Merchants' National Bank of Fort Worth, Tex., with a capital of $250,000, failed today. It was closed on an order from the directors
Source
newspapers
7. July 27, 1893 Reopening
Newspaper Excerpt
Among those which have re opened during the last few days are: ... Merchants' National Bank, Fort Worth, Tex.
Source
newspapers
8. August 15, 1893 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (22)
1. July 21, 1891 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 21, 1891

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LATE TELEGRAMS BCILED DOWN FROM PRIVATE, SPECIAL AND OTHER SOURCES. Railway strike at Paris collapses. Forty houses destroyed by fire in Guadalajara, Spain. Taylor will put up for railway connection with M. K. & T. at Trinity. President Finney, of Soo and South shore, at Minneapolis, resigns. The I. & G. N. receivership meets at Austin Monday the 27th. Governor of Minnesota and sheriff refuse to interfere in the prize fight A. Friedlander, Gainesville china merchant, fails. Two boys arrested at Tracy City, Tenn., for murdering a peadler. The state railway commission gives audience at Dallas to shippers. Jim Huntley wanted in Texas for forgery, extradited at Toronto. Mrs. Maybrick is denied the $10,000 insurance on her husband's lite. Another civil conflict is immenent in Samoa. Laredo is disconsolate over the Sunday law enforcement. San Angelo has shipped 3,000,000 pounds wool this season. Good rains at Belton give assurance of immense cotton crop. The Austin soldiers find running guard for beer rather risky business. The Austin riot is set for today, and the boys will have a circus. Major Ford is medical director of the Austin camp. Llewellen of Waco is charged with criminal assault on a young married woman. Uruguay is threatened with bankruptey. Clarkson says Quay wanted to resign immediately after Harrison's election. Patrick Kelly, Galveston jailer, from injuries received from an insane prisoner. J. S. Schweitzer's will probated at New Orleans; several public charities get from $5000 to $10,000 each. The Tennessee miners canture the militia and convicts and ship them to Knoxville. There will be bloodshed at Bruce. ville, Tenn., over the attempt to work convict miners. Gov. of Tennessee is urged to arrest and punish the miners, who took the camp. The miners threaten to destroy the bridges and burn the railroad if troops are sent Detail ha® been made for court martials at Austin, Major A. W. Houston judge advocate. San Antonio elect, ic ca's are doing temporary duty at Austin during encampment. There are about 2500 men In camp at Austin, one third regulars, the rest militia. Georgetown chautaqua closes, a nd gives a donation of $1,000 to the 80. ciety. Lawyerville, a Michigan lumber town of fifty buildings and mills, destroyed by fire Texas gets her world's fair building site set apart before the money is raised for it. Merchants national bank at Fort Worth is pronounced solvent, and will reopen in 30 days. R. Crain, San Jacinto veteran drowned in the Bosque, at Valley Mills. The Erie threatens to cat central traffic rates unless New England roads stop scalping. Reagan says rates cannot be established to give one place advantage over another. Railway committee is considering grain, cotton, lumber, and salt rates today. Silver is gradually nearing the $1 00 mark on the New York exchange. A revenue vessel will probably be sent to Eastport, Me., to protect American fishermen. Union Investment company of Kansas City, Winner's bursted concern, will be reorganized. Central bank, Kansas City, Kas., fails through failure of the Wyandotte bank. Petition for an Austrian society, to perpetuate national feeling, refused at St. Louis. An immense concourse of St. Paul people protest against the Hall-Fitzsimmons fight. Contract let for grading and ironing the road from Denison to Nebraska state line. Chairman of Chicago and Alton will pay no attention to Western Passenger association rates made without consulting them. Senator Quay has desired to resign as chairman of the republican com-

2. July 21, 1891 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, July 21, 1891

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Another Bank Failure. FORT WORTH, Texas, July 20.-The Merchants' National bank by a vote of the directors closed its doors this merning and the bank was placed in the hands of Bank Examiner Spaulding. Assets, $1,500,000; liabilities, $500,000. The trouble began six months ago when rumors caused a heavy withdrawal of $200,000 within fifteen days, of which $85,000 was taken out by foreign loan companies on account of the alien land law. Spaulding says the bank is solvent and that the depositors and creditors will be fully protected. A movement is on foot to reorganize the bank under the new law. Other banks tendered aid, but the directors concluded best to take the course they did. No other banks are affected and little excitement is exhibited over the suspension.

3. July 21, 1891 Evening Star Washington, DC
Article from Evening Star, July 21, 1891

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Failure of Western Banks. The Merchants' National Bank of Fort Worth, Tex., by a vote of the directors, closed its doors yesterday and the bank was placed in the hands of Bank Examiner Spaulding. The assets are $1,200,000 and the liabilities $500,000. The trouble began six months ago, when rumors caused a heavy withdrawal of $200,000, within fifteen days of which $85,000 was taken out by foreign loan companies on account of the alien land law. Mr. Spaulding says the bank is solvent, with no occasion for a receiver, and he would not have taken such a step except at the unanimous request of the directors. The depositors and creditors will be fully protected. No other banks are affected and little excitement is exhibited over the suspension. The Central Bank of Kansas City, Kan., failed yesterday. The failure was due to the failure of the First National Bank, which was taken charge of by the bank examiner last Thursday. The liabilities are $35,000; assets, $65,000. R. W. Hilliker is the president and cashier of the bank. The bank was organized under the state law.

4. July 23, 1891 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 23, 1891

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MERCHANTS' NATIONAL BANK OF FORT WORTH A VICTIM OF THE ALIEN LAND LAW. FORT WORTH, Tex., July 20.-The Merchants' National bank, by vote of the directors, closed its doors this morning and placed it in the hands of Examiner H. W. Spaulding. Assets, $1,200,000; liabilities, $500,000. The trouble began six months ago when rumors caused a heavy withdrawal of deposits. Within fifteen days $200,000 deposits were withdrawn, of which $85,000 were taken out by foreign companies on account of the alien land law. Spaulding says the bank is solvent and he would not have taken charge except at the unanimous request of the directors. The depositors and creditors will be fully protected. A movement is afoot to reorganize the bank under a new name. Other banks tender aid but the directors concluded it best to take the course they did. No other banks are affected and there is but little excitement over the suspension. FORT WORTH, Tex., July 20.-After two days examination of the affairs of the Merchants' National bank it was pronounced perfectly solvent. Talk that the bank was in trouble was raised abroad and the directors, lacking enough available cash to pay "deposits in full, and fearing a run, passed a resolution asking the bank examiners to take possession of the bank. The capital of the bank is $500,000; assets, $1,268,345. Liiabilities, $599,816. Bank examiner Spaulding telegraphed the comptroller of the currency he had taken possession of the bank at the earnest solicitation of the directors. S e The bank officers assign as their prinof cipal cause for the trouble lack of cono fidence and the drainage of currency occasioned by the passage of the alien land law. They further say the bank will reorganize at once and be open for a business inside of thirty days.

5. July 26, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 26, 1891

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# FORT WORTH IS HERE TO STAY. The courage of Fort Worth and the nerve of THE GAZETTE are the wonder and admiration of all observers. The suspension of so large a bank as the Merchants' national, honorable as it was, would knock most towns silly for some time, but the Fort never loses a step in the march of progress, and THE GAZETTE never shows a tremor.-[Waco Day. Why not have courage and nerve? A town without failures is a town without life. Of what avail is it to stand and weep? What is, cannot be recalled; disasters such as would have paralyzed some towns have befallen Fort Worth-the death of Huffman, the mental paralysis and death of Brown, the murder of Evans, the tragic deaths of Tatum and Somerville and Roach, the failures of Bateman, Lake and the Merchants' nationanal; the forgeries of Imboden and Mitchell-these and more have befallen Fort Worth, but the town still lives and will live and grow forever. It is not the past with its dire disasters, nor the machinations of rivals organized for action that gives Fort Worth cause to fear or despond, but there is peril in a pessimism and an idle gossip that would bring about more disaster by continually predicting it. Fort Worth is here to stay, and the carpet knights, the boomers when all is fair, the gossips and the selfish cannot stay the city's progress. The men who builded the foundation built it well. Trunk lines and effort will win.

6. July 31, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 31, 1891

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"And So Sav We All." Waco Day. Of the recent failure, in Fort Worth, of the Merchants' national bank, THE GAZETTE says: There is no excitement in Fort Worth, not a ripple on the waves All the officers of the bank are here or on their way home, the bank will be reorganized, we are assured, and the failure has hardly proved a one-day's wonder in this city There is too much to regret in the failure of SO prominent a bank as the Merchants' national, without permitting any er roneous estimate of the effect on Fort Worth to go abroad. The failure was not unexpected-the whisperings had prepared the people for it -and to-day Fort Worth is busy thinking of tomorrow and the work it will bring, rather than of yesterday. That is the true spirit in which to discuss the matter. It was expected, it came, and it is regretted -but there is no crooning over it or killing time by talking about what might have been. It was not the first bank failure in Texas nor will it be the last. Commercial stability and integrity are not to be shaken in any town because of such a happening. Fort Worth has rock-based elements of prosperity and is solid financially. So, too, are Waco. Dallas, San Antomio, Houston, Austin, Galveston and all the sisterhood of Texas cities. There will be no panic, no bating of breath to see "where the next blow falls," but a pull altogether for the better times and a return of confidence that wait in the near future, as surely as sunrise waits behind the first tints of morning light. Let a sister city, recognizing Fort Worth's solvency and capacity to deal with the emergency, repeat the assurance of confidence that is based on the actual facts of the situation. Money may be tight and hard to get in Texas at this time, but the concomitants of real prosperity are here. Our people have raised plenty of food for man and beast, and will have some to spare, The farmer will soon have cotton to sell, and with the wild craze for land speculation placed within bounds. Texas, a year from to-day, will be all the better off for the experience that is now crystalizing.

7. September 3, 1891 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, September 3, 1891

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TO RESUME BUSINESS. The Merchants' National Bank Getting Ready to Reopen Its Doors. Special to The Statesman. FORT WORTH, Tex., Aug. 31.-Matters at the Merchants' National bank are likely to soon be in running order. A meeting was held in the president's room this morning for the purpose of determing what course to pursue with reference to reorganizing and resuming business. A resolution was offered and adopted reducing the capital stock to $250,000 and placing the surplus at $50,000. A second resolution was offered and adopted calling for the resignation of all the old officers and all of the old directors, and providing for the election of an entirely new outfit before business is resumed. Before the bank resumes business there will have to be deposited in the vaults, subject to a check of former depositors, the full sum of $250,000, which will be more than enough to pay all depositors. The meeting adjourned over until Thursday when it is supposed the final arrangements for a resumption of business will be made.

8. September 27, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, September 27, 1891

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The Bank's Statement. The followi g is the sworn statement of the financial condition of the bank at the time of resuming payment. It is interesting, as it shows the bank has been perfectly solid all the time, though forced to a temporary. suspension: Condition of the Merchants' national bank of Fort Worth, Tex., on re-opening for business September 26, 1891:

9. January 9, 1892 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 9, 1892

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BUSINESS FAILURES. Jan. 13-E. H. Amidon, dry goods dealer, New York: $697,766. Jan. 16-Stoneboro savings bank and Sandy Lake savings bank, both of Pennsylvania. Jan. 19-American national bank, Kansas City. Mo.: $2,000,000. Jan. 20- State bank of Cawker City, Bank of Downs and Glen Elder bank of Glen Eider, all of Kansas, suspended. Jan. 21-Kawaka City (Kan.) state bank. Jan. 26-Savings bank of Wichita, Kan.; $81,000. Feb. 5-First Arkansas Valley bank, Wichits, Kan.; $120,000. Feb. 12-First national and North Middlesex savings bank, Ayer, Mass. Feb. 19-John D. Knox & Co., private bankers, Topeka, Kan.: $340,000 Union Investment Company, Kansas City; $1,000,000. Feb. 25-Windsor national bank, Windsor, Vt. Mar. 19-J. & A. Simpkinson, boot and shoe manufacturers, Cincinnati; $400.000. United States savings bank, Topeka, Kan., $330,000. Mar. 20-Theodore Schwartz & Co., private bankers, Louisville, Ky.; $500,000. Mar. 24-Washingt n national bank, New York Schall & Downer, bankers. York, Pa. Apr. 2-The John McNabb bank, Eufaula, Ala. Apr. 4-Columbia Iron & Steel Company and Pennsylvania Construction Company, Uniontown, Pa; $1,000,000. May 7-Bank of Allen county at Scottsville, Ky. May 9-Spring Garden national bank. Philadelphia. May 15-People's bank at Knoxville, Tenn. May 22-Hills Shot Company at Memphis, Tenn., $600,000. May 26-Potter, White & Bailey, shoe manufacturers at Boston: $1,000,000. May 27-John Ryan's Sons, wholesale dry g oods, Atlanta, Ga.: $1,000,000. June 4-The City national bank at Marshall, Mich. June 5 - Connell, Hall, McLaster & Co., wholesale dry goods, Nashville, Tenn.; $500,000 The Huntington (Ind.) bank. June 13-Central national bank, Broken Bow, Neb. June 10-Sevill Scofield, woolen manufacturer at Manayunk, Pa.: $800,000. June23-The Florence national bank, Florence, Ala., and Sax Brothers' savings bank, Nashville, Tenn. July 7-Moses Bros., bankers, Montgomery, Ala; $500,000. July 8-Bank of Commerce, Sheffield, Ala. July 14-E. C. Stark, banker at Oneida, N. Y.; $220,000. July 16-Spooner R. Howell & Co., lumber dealers, Chicago, and other cities; $2,000,000. July 17-First national bank, Wyandotte, Kan. $1,000,000. July 18-First national bank, Palatka, Fla.; $200,000 Bonneil & Co., printer's ink manufacturers, New York, $100,000. July 21-Central bank of Kansas at Kansas City, Kan.: $100,000 Merchants' national bank, Fort Worth, Tex.: $500,000. July 23-Citizens' bank of Jefferson, Tex.; $100,000. Aug. 4-Abraham Backer, dry goods commission, New York; $4,000,000 Samuel Hano, real estate dealer, Allston, Mass.; $500,000. Aug. 8-Masonic savings bank, Louisville, Ky.; $1,000,000. Aug. 19-Johnston, Tallman & Co., flreworks importers, New York city: $600,000. Sep. 23-S. V. White & Co., New York, commission merchants. $2,000,000. Sep. 30-F. B. Wallace & Co., New York, brokers; $390.000. Oct. 1-First national bank at Clearfield Pa... Chrisman (111.) bank: $100,000. Oct. 3-Turner & Bro., Boston bankers; $300,000. Oct. 5-Ulster county savings' institution, Kingston, N. Y., robbed by officials of $463,000. Oct. 16-State bank at Gritna, Neb. Oct. 17-The Columbia bank and the Bank of Columbia, at Nashville, Tenn. Oct. 23-Bank of Lewisburg, Tenn. $80,000. Nov. 2-Maverick national bank of Boston, suspended; liabilities, $10,000,000. Nov. 7-The Cochrane-Fulton Company, distillers, at Louisvil.e, Ky.; liabilities, $500,000 Bank of Fiorence, Aia.; $100,000. Nov. 7-The Corry (Pa.) national bank closed its doors: $700,000. Nov. 13-California national bank at Santiago, Cal. Nov. 14-Bonner & Bonner, bankers at Tyler, Tex.; $500,000. Nov. 25-Farmers' and Miners' Deposit bank, Irwin, Pa First national bank, Wilmington, N. C. Nov. 28-Field, Lindley, Wicchers & Co., bankers and brokers of New York, $1,000,000. Dec. 22-Private banks at Waynesboro, Warrentown and New Market, Va., closed their doors Thomas H. Allen & Co., cotton dealera, Memphis, Tenn.; $544,932. Dec. 23-Bank of Greenville, Greenville, Miss : $1,000,000.

10. May 18, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, May 18, 1893

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A STATEMENT BY THE MANAGEMENT. A Gazette reporter called at the Merchants' National bank yesterday afterHoon, and by the officials in charge was given a statement in regard to the condition of the institution and the causes leading to the present differences. An official said: "The bank has paid all its matured debts, and is ready to liquidate others as they become due and those who have deposits with 113 are at liberty to with draw them at pleasure, When this bank closed its doors in July, 1891, it owed $740,000; the debt today has been POduced to $30,000, leaving assets in the bank to the amount of the capital8500,000, which is the property of the stockholders, The management has from to their were at time examination. time invited They inspection liberty and to see the books at any time and make acts of its inquiry "There into has the employes, to never been an assessment made on any of the several previous put the hands of have the been bank in stockholders: attempts a receiver, there to declined requests. A large of yet due the the with but assets the the comptroller bank proportion to are comply owed principally by former officers, and some of the former directors, The bank has been compelled to bring suit to force colsome of those amount to 000. lection five of these in claims cases, ovör Four 8250,- or The officials say that it Is only a matter of the ins and outs, now that the institution is being put on a good basis." They decline to discuss the subject matter of the petition for a receiver further than as stated above,

11. May 18, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, May 18, 1893

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LATE TELEGRAMS BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. Claus Spreckels opposes annexation. Woodville postoffice robbed of $1,000. Bad break in the Chicago wheat market. Governor Hogg is busy examining bills. The financial panic in Sydney is subsiding. Rampant disorder in the Bohemian diet. Stevens sails from Honolulu on the 24th instant. Central diocese of P. E. church meets in Galveston. Crop report from cotton states very unsatisfactory. Isinglass wins the Newmarket stake, 4,500 sovereigns. The railroad telegraphers are in session in Toronto, Can. The Callahan wool clip, 132,000 pounds reaches Encinal. Australia is still in the acute stage of financial distress. The murderer of Tedder at Mt. Vernon gets a life sentence. Schooner Pelican and three men goes down at Ashtabula, O. Second clause of the Irish Home Rule bill passes, 287 to 225. Bank of Feumtrota, in Goodhue county, Minnesota, suspends. Thurston, Hawaian annexationist, is minister to Washington. Simonds of the patent office denies all charges against him. Colored excursion to Huntsville overflows the Penitentiary city. Stockholders Merchant's National of Fort Worth want areceiver. Gresham is reaching for Cuney's scalp, but as yet has not secured it. Paris, Texas, is drinking sewer water; so says one of its own papers. World's fair national commission call for Theodore Thomas's resignation. The Woman's Congress, Chicago, overflowed two of the halls yesterday. Florida makes thirteen hours the longest continual duty for train men. The Brazos river rises 6 feet at Hempstead and planters are uneasy. Henry Baugh fires 5 bullets into Green at Beaumont in a cistern fight. Georgetown prohibitionists visit San Marcos in the pursuit of knowledge. The trial of Tom Adams for murder in Fulton county is on at Kerrville. Negro jailed in Sherman for stealing several hundred dollars diamonds. Houston I. & G. N. yards are blocked with oil cake for Velasco shipments. The Chinese minister at Washington will do his best to keep China quiet. President Mosher, of the wrecked National bank of Lincoln, Neb., is under arrest. Cleveland, O., reports 14 lives lost and great damage to shipping by high winds. Wm. Morris, in a family quarrel at Keyetsville, Mo., fatally shoots himself and wife. Mrs. Palmer and Lady Aberdeen are the principal Woman's Congress attractions. Grand Duke Alexander of Russia is the guest of the Russian minister at Washington. California receives assurance from the president that exclusion act will be enforced. Galveston's joint committee recommends accepting the $785,992 bid for water supply. Police guard streets of Prague, in the vicinity of the hall where sessions of diet are held. The highest waters known for years are raging in Ohio and some sections of Pennsylvania. Every insurance policy in Kansas must be written in the state and every agent reside there. Queensland government proclaims a month's holiday, to readjust finances by the gold miners. Committee of investigation report the new immigration law superior in its workings to the old one.

12. May 19, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 19, 1893

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SUIT FOR A RECEIVER FOR A TEXAS BANK. Fort Worth, Tex., May 18.-In a petition of 4,500 words, Portwood and other stockholders of the Merchants' National Bank of Fort Worth ask for a receiver for the bank and an injunction to prevent the officers from longer acting. The potition alleges bribery and conspiracy to wreck the bank Specific instances of alleged misuse of the assets of the bank are set forth in the potition. and the taking of bribes by officials of the bank. About ten of the thirty plaintifs are of Adrian, Mich.: a similar number are of Indiva and others are of this city. The filing of the suit caused A great surprise and sensation. all the officers. directors and stockholders who are not plaintifts being joined in the suit.

13. June 6, 1893 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, June 6, 1893

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BUSINESS EMBARRASSMENTS. Bank Failures in New York, Chicago and Elsewhere. CHICAGO, June 6.-The private bank owned by Meadowcroft Brothers, at 100 Dearborn street, has failed. A noticed attached to the closed doors of the bank bears this inscription: "This bank is in the hands of Lyman E. Crandall, receiver, by order of the superior court." A bill praying for the appointment of a receiver was filed in the superior court by Charles J. Meadowcroft, and its text gives as a cause of the failure the inability of the complainant to reorganize the bank after the death of his brother, Robert Meadowcroft, who died last February. A run was started on the Dime Savings bank. This institution has deposits aggregating $600,000, and among its direc tors are Colonel Robert C. Clowry, vice president of the Western Union Telegraph company, and ex-Senator C. B. Farwell. President Bailey, of the bank, says he has a dollar and a half for every dollar depos ited, but the greater part of the money is tied up in securities. He does not know how long the bank can stand the run. The bank has a capital stock of $100,000 and a surplus of $50,000. There is a run on the Hibernian bank, one of the largest saving institutions in the country. The deposits amount to $8,500,000, and the officers of the bank believe they can stand the run. The Prairie State Savings and Trust company and the Illinois Trust and Savings bank are also being besieged by depositors, who are clamoring for their money. The officials, however, are not alarmed. NEW YORK, June 6.-The Shoe and Leather National bank gave notice that it will not clear for the Canal Street bank after today. This will make it necessary for the Canal Street bank to go into liquidation. Its deposits are about $450,000. Wall street is not concerned about the failure, and very little attention is paid to the suspension. The bank had a capital of $100,000, a surplus of $10,000 and undivided profits of $10,000. Its average de posit line was $570,000, although recently it has fallen below that sum. The losses, if any, will fall upon the small business men in the immediate vicinity of the bank. WASHINGTON, June 6. - Comptroller Eckels is informed that the Merchants' National bank, of Fort Worth, Tex., capital $250,000, has failed. The bank was closed on an order from the directors, and Bank Examiner Stone was placed ,in charge.

14. June 6, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, June 6, 1893

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the city, and has a paid-up capital of $150,000. A. M. Cannon is president. Washington, June 5.-Comptroller Eckles has received information that the Merchants National bank, of Fort Worth, Tex., with a capital of $250,000, failed today. New York, June 5.-The Canal Street bank is in financial trouble. Kansas City, June 5.-The Kansas grain company, a big commission house with branches all over Kansas, has failed. The officers decline to make any statement. Sandusky, O., June 5.-The savings bank here was put in the hands of a receiver this morning. Philadelphia, June 5.-Washington Butcher & Sons, an old established house in the provision trade, have made an assignment. No statement was made as to the assets or liabilities. The tightnes of the money market was the cause of the failure.

15. June 6, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, June 6, 1893

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A Sandusky, O., Bank Assigna SANDUSKY, O., June 5.-The Sandusky Savings bank, supposed to be one of the safest in the city, closed its doors.and made an assignment this morning, giving as the reason its inability to realize on assets and saying that all depositors would be paid in full. A heavy run was made on the bank six weeks ago, which it withstood. The drain, however, is believed to have weakened it. The available assets are estimated at $300,000 and the liabilities $205,000. WARRINGTON CITY, June 5.-Comptroller Eckies has received information that the Merchants' National Bank of Fort Worth, Tex., with a capital of $25,000, failed today. It was closed on an order from the directors and Bank Examiner Stone IS in charge.

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

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SMALLER FAILURES. A Failure in Which Wall Street Was Not Concerned. NEW YORK, June 5.-The Shoe and Leather National Bank gave notice this morning that it would not clear for the Canal-street Bank after to-morrow. This will compel the Canal-street Bank to go into liquidation. Its deposits are $450,000, and it has been hard up for money some days. President Basinessaid to a reporter this afternoon that the bank is solvent, but if it could not get temporary assistance it would have to go into liquidation. Wall street was not concerned about the failure. The bank had a capital of $100,000, and the average deposits were $579,000, although recently they had fallen below that. The directors decided this evening to go into liquidation, though the State bank is entirely solvent. SANDUSKY, Ohio, June -The savings bank here was put in the hands of a receiver this morning. The Sandusky Savings Bank was supposed to be one of the safest in the city. The reason for closing the doors is given as the inability to realize the assets. It is said all depositors will be paid in full. A heavy run was made on the bank six weeks ago, which it withstood, but the drain weakened it. The available assets are estimated at $300,000; liabilities, $205,000. WASHINGTON, June 5.-Comptroller Eckels has received information that the Merchants' National Bank of Fort Worth, Tex., with a capital of $2,500,000. failed to-day. It was closed on an order from the directors. Bank Examiner Stone is in charge. MILWAUKEE, June 5.-A sensation was created this afternoon by Judge Wallber instructing the Grand Jury to investigate the failures of the Plankinton Bank and Lappen & Co.

17. June 7, 1893 The Advocate and Topeka Tribune Topeka, KS
Article from The Advocate and Topeka Tribune, June 7, 1893

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Merchant's National bank of Fort Worth, capital $250,000, failed to-day. The bank was closed on an order from the directors and Bank Examiner Stone was placed in charge. SANDUSKY, O., June 5.-The Sandusky Savings banks closed its doors this morning, owing to its inability to realize upon its securities. The depositors will be paid in full. PORTLAND, ORE., June 5.-Private advices from Spokane, Wash., state that the Bank of Spokane has suspended. It is one of the smaller banks of Spokane.

18. June 9, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, June 9, 1893

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A NEW TRIAL. THE FEDERAL COURT WILL BE ASKED FOR A RECEIVER. To Vote on the Question of Voluntary Liquidation of the Merchants' National Bank. Late last evening a Gazette representative called on Mr. A. B. Smith. cashier of the Merchants' National bank, in regard to future action in the bank matter. In referring to the organization of a new bank, Mr. Smith said: The organization of a new bank will not go into effect until the Merchants National bank goes into liquidation. Under the national bank act. the law requires that sixty days notice be given the public before such action can be taken. The proper notice of proposed liquidation will be sent to each and every stockholder in order that the stock may be fully represented at the stockholders meeting to vote upon the question of voluntary liquidation. "In the matter of liquidation it will be the purpose of the officers of the bank to wind up the aff ilts as soon as possible, but as a large portion of its assets is in real estate, it will necessaril take considerable time to dispose of it to the best advantage to the association. Each and every stockholder's interest will be fully protected and as large results as possibly can be obtained out of the assets will be distributed pro rata among the stockholders. Mr. Smith says that he and his associates have decided to test their rights in the courts against the parties making the charges, and swearing to the same in the recent case of application for a receiver for the Merchants' National ) bank, which has just been decided by Judge Greene in favor of the bank. Referring to the proposed new bank, Mr. Smith said he was not yet able to give the details, but said that the capital stock would be not less than $200,000, Last night a reporter of The Gazette called at the residence of D. Portwood, one of the complainants in the suit recently brought against the bank. asking the appointment of a receiver for the Merchants National bank, and asked how the recent opinion of Judge Greene refusing to appoint a receiver suited the stockholders who brought the suit. Said he: "The opinion does not give satisfaction at all: we, with the non-resident sharen holders, are not at all satisfied, as we d believe the allegations set forth in our 1 petition sufficiently strong to have a reS ceiver appointed. So far as resident stockholders are concerned, they are out 0 of the case in a measure, but you can rest assured that the not-residents are I in the tight to a finish, and within a few . days a suit will be filed in the United States court at Dallas, asking the ap n polutment of a receiver. Mr. Portwood refused to be quoted as 1 having anything further to say ou the d question for the present. it

19. June 16, 1893 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, June 16, 1893

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South and West. THE Old Kentucky Home at the Chicago Fair Grounds was dedicated. It is the Blue Grass State Building and one of the most attractive in the grounds. Miss Enid Yandel's statue of Daniel Boone was unveiled. AT the Sisseton Agency, South Dakota, Miss Cynthia Rockwell, an Illinois teacher at Coodwill Mission. has married Richard King, an Indian, studying for the Presbyterian ministry. THE Plankinton Bank in Milwaukee, Wis., closed its doors. The bank had loaned $200,000 to F. A. Lappen & Co. and the Lappen Furniture Company, and this was the principal cause of its suspension. THE Victoria Cordage Company, Cincinnati, Ohio, members of the Cordage Trust, has assigned. Assets, $500,000 liabilities, $400,000. TORNADOES did great damage to property in Mississippi, Tennessee, Arkarcas and Kentucky. At Rosedale, Miss., W. L. Bawdre and wife were killed. IOWA Prohibitionists nominated a full State ticket. THE members of the graduating class at Annapolis (Md.) Naval Academy, forty-four in number, received their diplomas at the hands of Secretary Herbert. W. V. N. Powelson, of New York, received the honors of his class graduating No. 1. A RECEIVER was appointed at Charleston, W. Va., for the Norfolk and Western Railroad. DURING a heavy rain storm fire was discovered in a block on Farnumstreet, Omaha, Neb. The entire city Fire Department was called to the scene. A high wind was blowing. One of the walls fell on seven firemen. Five of them were instantly killed. WHILE a primary election was held in Bell County, Kentucky, by the Democratic party, excitement ran high, and in a fight at Pineville, the county seat, John Jones and Levi Hoskins were killed and two others were fatally injured. OWING to a storm less than 60,000 persons visited the World's Fair on the second Sunday opening. TWENTY-FIVE men walked into Decatur, Ill., a city of 22,000 people, and lynched Samuel Bush on the principal street without opposition. Bush was a colored man accused of assaulting two white women. AT Chicago, Ill., Herman Schaffner & Co., private bankers, made an assignment. Schaffner & Co. have been the largest private bankers in the Northwest, dealing exclusively in commercial paper. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash. and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadowcroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed.

20. July 27, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 27, 1893

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LATE TELEGRAMS BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. Mexico is coining 20 cent pieces Hillsboro has a seduction sensation. Mexico's army numbers 35,000 men. Mason has rain enough to settle the dust. Miller, of Dallas, is due to hang tomorrow. Rockport grapes are nearly all marketed. Cotton is eoming into Seguin quite lively. Many of the suspended banks are resuming. Two Swedish missionaries murdered in China. Ticknor & Company, publishers, Boston, assign. Ten cases cholera and six deaths daily in Moscow. Quarantine station, Alexandria, free from cholera. Nothing definite determined as to blockading Siam. Mexican murdered by his mistress in Kerr county. Spreckels backs queen Lil for the throne of Hawaii. Interoceanic railway earnings last week were $38,000. Confederate reunion at Floresville is a pleasant one. Epidemic in Vera Cruz caused by bad drinking water. Average loss of life in the Hidalgo mines is three daily. The Italian pilgrimages are inhibited owing to cholera. The first fight in congress will be over the adoption of rules. Cleveland has the gout and is threatened with apoplexy. Forged securities get away with $50,000 Chicago bank funds. Steamer Pearl sunk in a collision off Irish coast and 7 drowned. Willis P. Green, of Albia, shoots himself, probably an accident. Those Choctaw executions are suspended until September 5th. Number of employes in Federal district, Mexico, will be reduced. Vessels from Naples are quarantined five days at Constantinople. Spanish steamer San Juan, for Manilla, burned and 221 lives lost Colored child 4 years old poi soned at Galveston by eating ratsbane. Mitchell's Bank, Milwaukee.has paid depositors over $2,000,000 this month. Harrison Alexander kills Tom Moore at Carmona, for slandering his wife. Germany is happy over the prospect of trouble between France and England. Farmer's National bank of Henrietta will probably resume withOI u! Rumor of cholera, at Chester, Pa. The victim a new arrival from Austria. Merchants' National of Fort Worth pays its stockholders 75 per cent of capital. State bar meets at Galveston and are entertained by Attorney Terry, of the Santa Fe. John Spradley arrested at Bryan for murder committed 16 years since in Alabama. Two persons killed, 5 hurt and 7 houses demolished by a hail storm at Alamistlan. Commons defeats motion to col-

21. July 28, 1893 The Durham Daily Globe Durham, NC
Article from The Durham Daily Globe, July 28, 1893

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IN THESE days of suspensions and failures it is gratifying to note that many of them are due only to temporary embar rassments and that many of the reputed bursted banks are over their trouble and are again doing business. Among those which have re opened during the last few days are: Gate City National Bank, At lanta, Ga.: First National Bank, Los Angeles, Cal.; First National Bank, San Diego, Cal.: First National Bank, Santa Anna, Cal; First National Bank, San Bernardino, Cal: the Southern California National Bank, Los Angeles, Cal: Merchants' National Bank, Fort Worth, Tex.; Second National Bank, Ashland, Ky.; Capital National Bank, Indianapolis, Ind: First National Bank, Palouse City, Wash; Washington National Bank, Spokane Falls, Wash; National Bank of Commerce, Provo City, Utah, and First National Bank, Cisco, Texas.

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.