3759. Columbia National Bank (Chicago, IL)

View Charter #3677 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3677
Charter Number
3677
Start Date
May 11, 1893
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
fd4a36d021c2b397

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
81.0%
Date receivership started
1893-05-22
Date receivership terminated
1905-09-30
OCC cause of failure
Fraud
Share of assets assessed as good
32.8%
Share of assets assessed as doubtful
43.2%
Share of assets assessed as worthless
24.0%

Description

Multiple contemporaneous articles (May 11–23, 1893) report a run on the Columbia National Bank after news of other bank failures and a suit (Sioux City Loan & Trust) led depositors to withdraw. Directors suspended payments May 11 (posted notices); bank examiner assumed control. A receiver (William C. Niblack) was appointed by May 23, 1893, indicating permanent failure. OCR variants in papers show 'Columbian' or 'Columbian National' — corrected to Columbia National Bank. Some early reports mention directors aiming to resume, but subsequent receiver appointment confirms closure.

Events (5)
1. April 23, 1887 Chartered
Source
historical_nic
2. May 11, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Run followed news that the bank refused payment on a $35,000 draft and a suit by Sioux City Loan & Trust; runs were also aggravated by the recent Chemical National Bank suspension.
Measures
Posted notices of suspension; called for help from other banks; bank examiner James D. Sturges (and later D. A. Cook) assumed control in interest of depositors.
Newspaper Excerpt
A constant run on the bank since the announcement of the Chemical suspension decided the directors to close the doors.
Source
newspapers
3. May 11, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed doors due to sustained run and poor loan collections; immediate trigger included the suit related to a $35,000 draft and the broader panic after Chemical National Bank's troubles.
Newspaper Excerpt
Notices announcing the suspension were posted on the doors and soon after Bank Examiner Sturges took charge of it by authority of the comptroller of currency.
Source
newspapers
4. May 22, 1893 Receivership
Source
historical_nic
5. May 23, 1893 Receivership
Newspaper Excerpt
Comptroller of the Currency Eckels has appointed Mr. William C. Niblack receiver of the Columbia National bank of Chicago.
Source
newspapers

Newspaper Articles (25)
1. May 11, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, May 11, 1893

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NOT PLEASANT READING A HEAVY BANK FAILURE IN WILMINGTON, DEL. The Liabilities are $300,000 With Only $100,000 of Assets in Sight -Another Bank Goes Under in Chicago. WILMINGTON, Del., May 11.-The announcement of the failure of R. R. Robinson & Co., bankers and brokers, this city, today created a profound sensation. Rumors of the failure of this well known firm haye been on the street for several days and business circles have been exriteo. The liabilities of the firm are $600,000, while the assets will not exceed $100,000. The sheriff has seized all the property of the bankrupt firm. INDIANAPOLIS, Ind., May 11.-TheCap ital National bank of this city has suspended. The closing of the bank's doors was made necessary by the failure of the Chemical National Bank of Chicago. CHICAGO, May 11.-The Columbia National bank of this city has failed.

2. May 11, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 11, 1893

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# A Chicago Bank Fails. CHICAGO, May 11.-The Columbia National bank, this city, failed this morning. It had a capital of $1,000,000 and deposits amounting to $1,400,000. Rumors that it was in trouble had been current nearly a week. It did business with small country banks, mostly, and was not in esteem among the other city banks. Notices announcing the suspension were posted on the doors and soon after Bank Examiner Sturges took charge of it by authority of the comptroller of currency. The bank was reorganized two years ago out of the old United States National. The assets are estimated at $2,250,000, of which $1,000,000 are deposits and the remainder discounts. The liabilities are $1,500,000. The constant run since the announcement of the Chemical bank suspension caused the directors to close the doors. A call for help was made this morning, but there was not time for investigation before responding to it, and the suspension came. The Columbia is not a member of the clearing house. The statement of May 4 is as follows: Assets, loans and discounts, $1,624,832; bonds, $841,258; furniture and fixtures, $12,716; exchange, $615,975. Total, $2,594,781. Liabilities: Capital stock, $1,000,000; Surplus, $50,000; undivided profits, $41,931; circulation, $45,000; deposits, $1,457,950. Total, $2,594,881. It is said that the cause of the failure was poor collections on loans. This collapse and that at Indianapolis caused a break of 2½ cents in the price of wheat here.

3. May 11, 1893 Evening Star Washington, DC
Article from Evening Star, May 11, 1893

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IN FINANCIAL DIFFICULTIES. Bankers Who Find Themselves Unable to Meet Their Engagements. INDIANAPOLIS, May 11.-The Capital National Bank of this city, located on South Meridian street, suspended this morning. The statement is made that the closing of the bank's doors was made necessary by the failure of the Chemical National Bank of Chicago last week, which institution owed the Capital $100,000. The bank also carried a large amount of Premier steel works paper. The latter concern was placed in the hands of a receiver Friday last. BANKERS AT WILMINGTON FAIL. WILMINGTON, DEL., May 11. - -The announcement of the failure of R. R. Robinson & Co., bankers and brokers of this city, today created a profound sensation. Rumors of the failure of this well-known firm have been on the street for several days rnd business circles have been excited. The liabilities of the firm are estimated at $300,000. while it is said the assets will not exceed $100,000. The sheriff has seized all the property of the bankrupt firm. THE COLUMBIA NATIONAL BANK OF CHICAGO. CHICAGO, May 11. - The Columbia National Bank of this city has failed. In a report of the bank's condition made by its officers at the close of business May 4 the deposits were stated to be nearly one and a half million dollars. The capital stock of the bank is $1,000,000.

4. May 12, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 12, 1893

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It Refused to Pay a Draft for $35,000, Suit Was Brought, Depositors Became Frightened and a Run Followed. An Institution That Did Business with Many Country Banks 10 Indiana. Methods That Tended to Make It Unpopular with Clearing-House Concerns-Failures at Sioux City and Elsewhere. ANOTHER BANK CLOSED. The Columbia National Forced to SuspendAid Refused by Other Banks. CHICAGO, May 11.-The Columbia National Bank, of this city, suspended to-day. The bank had offices in the Insurance Exchange. Rumors that the institution was in trouble have been current for nearly a week. It did business with small country banks and wasnoti in esteem with the other banking concerns of the city. As to the cause of the failure, those who know say that collections on loans have been poor. Notices announcing the suspension of the bank were posted on the doors, and a few moments later James D. Sturges, bank examiner. assumed control in the interests of depositors and under authority of the Controller of the Currency. The Columbia National was reorganized two years ago out of the old United States National Bank. A constant run on the bank since the announcement of the Chemical suspension decided the directors to close the doors. A call for help was made, but as the bankers were not notified until this morning insufficient time was allowed for an investigation and the request was denied. The Columbia was not a member of the clearing house. The statement 18 made by Lyman J. Gage that to the best of his belief admission to the association was asked about a year: ago, and was refused after an investigation was made. Instead, the concern cleared through the Metropolitan National. Last night officers of the latter institution learned that the Columbia would be short to-day, and this morning notification was made by the Metropolitan that checks would no longer be paid. A meeting of the directors was called and suspension was decided on. After suspension was decided the announcement was made in the following notice: There being a constant run on us for a number of days. in orderto protect the depositors and all interested, the board of directors have decided to close for the present All depositors will be paid in full. z. O. WIGGINS, President. Following this came the posting of a notice from the bank examiner, stating that the business of the Columbia Bank of Chicago was suspended, and that he was in charge in the interest of the Controller of the Currency. The bank's statement at the close of business May 4, 1893, was as follows: Resources

5. May 12, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 12, 1893

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Other Business Troubles. CHICAGO, May 11.-The - directors of the Chemical National Bank yesterday resolved to reorganize the bank and resume business at the earliest possible moment. INDIANAPOLIS, Ind., May 11.- - The Capital National Bank of this city has suspended. The statement is made that the closing of the bank doors was made necessary by the failure of the Chemical National Bank of Chicago last week, which institution owed the Capital Bank $100,000. The bank also carried a large amount of the Premier Steel Works paper. This concern was placed in the hands of a receiver last Friday. CHICAGO, May 11. - The Columbian National Bank of this city has failed. NEW YORK, May 11.-The Sun says it has a correct list of the banks holding the, National Cordage Company's paper, but for obvious reasons the names of the banks are withheld. All told, however, the amount of Cordage paper held by them is $1,500,000. SIOUX CITY, Ia., May 11.-The failure of the Columbia National Bank of Chicago sent the Sioux City Engine Works to the wall this afternoon and a receiver was appointed.

6. May 12, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, May 12, 1893

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THE COLUMBIA. Chicago, May 11. -The - Columbia Na. tienal bank of this city suspended today. The bank had offices in the insurance exchange. Deposits were $1,400,000. and capital $1,000,000. Rumors that the institution was in trouble had been eurrent for a week. It did business with small country banks and was not in esteem with other banking concerns of the city, James D. Sturges. bank examiner. assumed control in the Interest of the depositors and under the authority of the comptroller of the currency. The Columwas ago. bia national out of the old United organized States two Nation- years al bank. The bank statement at close of and business, discounts, May 4, $1,024,932.27 gives resources, United loans States and other bonds. $342,257.91; furniture and fixtures. $12,715.95; cash and stight exchanges. $015,975.00 Total, $2. 594.881.19. Liabilitie Capital stock, $1,000,000; surplus, $50,000; undivided profits, $41. 930.85: circulation. $45,000: deposits. $1. 457.950.34: total, $2,594,881.19 It is expected depositors will be paid in full. The president of the Columbia assigns as the immediate cause of the failure. the suit brought against and Trust a the which Sloux failed City Loan few days ago, with company. it a de- by posit in the bank of $35,000. When the draft for the amount was presented the bank refused payment, claiming it had leans outstanding aguinst the Sioux City company. which equalled the amount of the deposit. Immediately the company entered snit. News of the suit spread and caused n run. which the bank was unable to withstand.

7. May 12, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 12, 1893

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FORCED TO SUSPEND. The Columbia National Bank, at Chicago, Closes Its Doors. CHICAGO, May 11.-The Columbia National bank of this city suspended today. The bank had offices in the Insurance Exchange. The deposits were $1,400,000 and the capital $1 000,000. Rumors that the institution was in trouble have been current for nearly a week. It did business with small country banks and was not in esteem with the other banking concerns of the city. As to the cause of the failure, those who should know say that collections on loans have been poor. The officers of the bank are T. Everingham, president; W. G. Bentley, vice president; Zimri Diggins, cashier; John T. Green, assistant cashier. Notices announcing the suspension of the bank were posted on the doors, and a few moments later James D. Sturges, bank examiner, assumed control in the interest of depositors and under authority of the comptroller of currency. The Columbia National was reorganized two years ago, out of theold United States National bank. Estimates by bankers intimate with its affairs make this showing: Assets, $2,250,000; liabilities, $1,500,000. A constant run on the bank since the announcement of the Chemical suspension decided the directors to close the doors. A call for help was made, but, as the bankers were not notified until this morning, insufficient time was allowed for an investigation and the request was denied. The Colnmbia was not a member of the clearing house. Zimri Dwiggins, the cashier of the Columbia, assigns as the immediate cause of the failure of his bank the suit which was brought against it by the Sioux City Loan and Trust company, which failed a few days ago. The Columbia was the Chicago bank with which the Sioux City concern did business, and their deposit in the bank at the time of their collapse in Sioux City amounted to $35,000. A draft was drawn on the Columbia for this amount. When the draft was presented by a man from Iowa the bank refused payment, claiming that it had loans outstanding against the Sioux City company which equaled the amount of their deposit. Immediately on this refusal of the bank to honor the draft, the company entered suit against the bank. The news of the suit spread and caused a run on the bank, which they were unable to withstand. A meeting of the officers and directors was held this afternoon. and at its con. clusion it was announced that the bank would probably resume business in a short time. Cashier Preston, of the Metropolitan National bank, through which the Columbia National cleared, said tonight that the failure was not a bad one, and that he saw no reason why the suspension should be anything but temporary. WASHINGTON, May 11.-Comptroller Eckels has designated D. A. Cook, bank examiner for Illinois outside of the city of Chicago, to take charge of the Columbia National Bank of Chicago. He has also telegraphed Hugh Young, bank examiner for Western Pennsylvania, residing at Pittsburg, to proceed at once to Indianapolis and take charge of the Capital National bank, of that city. Comptroller Eckels was today advised that the stockholders of the Chemical National Bank of Chicago, whose failure was recently announced, will make good the impaired capital as soon as the exact amount can be ascertained, and the bank will resuine busiit is ness. Every cent, asserted, that the will de- be paid, and it is understood positors at the world's fair branch have already been paid.

8. May 13, 1893 The Jersey City News Jersey City, NJ
Article from The Jersey City News, May 13, 1893

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THE WEST'S WEAK BANKS. MILWAUKEE, Wis., May 13. 1893.-The expected run is being made on the Plankinton Bank on account of the implication in the F. A. Lappen failure. The belief is that the bank will pull through. The scene around the bank is one of activity, but there is no panic and no indication of one. The feeling among business men is one of security. P. D. Armour, who is one of the heavy stockholders in the bank, is understood to have sent $1,000,000 in currency to the institution by express this morning. Depositors are being paid as rapidly as they can present their claims. The Plankinton estate, which is also interested in the bank, is also understood to have come to the rescue with a large amount of cash. EDWARDSBURG, Mich., May 13, 1893.The following notice appeared today on the doors of the suspended Citizens' Bank:This bank will be closed for a few days, until we can shape ourselves. Depositors will not lose anything if they will stand by us. J. L. KLECKNER, Cashier. The bank has been associated with Dwiggins, Starbuck & Co. of the broken Columbia National at Chicago. MADISON, Wis., May 13, 1893. - The Bank of Oregon, established about a year ogo by Dwiggin. Starbuck & Co., of Chicago, made an assignment yesterday, and its affairs have been placed in the hands of Messrs. J. J. Lindsey and M. W. Terwilliger for settlement. The closing of the bank is due to the collapse of the Columbia National Bank of Chicago. The assets are figured at $35,000; liabilities, $30,000, of which $25,000 is due depositors.

9. May 16, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, May 16, 1893

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WILL PROBABLY PULL THROUGH. Embarrassment of a Minneapolis Concern Believed To Be Temporary. MINNEAPOLIS, Minn., May 15.-The Northwestern Guaranty Loan Company is embarrassed owing to the financial stringency. The company's stock is $1,250,000. It owns a two million dollar building in which its offices are located and holds as collateral and in fee simple a large amount of real property here, in Chicago and elsewhere. Its business is the loaning of commercial paper on sufficient collateral and guaranteeing of the paper. It has three millions of this paper. The refusal of its patrons to take up or renew notes precipitated the trouble. If the company suspends it will not do so for several days. It is believed in business circles that ultimately the company will pay in full. Denver Business Man in Trouble. DENVER, May 15.-William S. Mygatt, a well known banker and business man, assigned today. He places his assets at at $591,860; liabilities, $507,889. He says he will pay dollar for dollar, and that the assignment was caused by eastern banks with which he has dealt for a long time, refusing to take securities they previously desired. Fires Embarrassed This Concern. PITTSBURG, Pa., May 15.-Godfrey & Clark, paper manufaturers, announced their failure today. They are the largest paper manufacturers in western Pennsylvania. The firm was unfortunate in having several times been burned out. The manager says they are preparing a statement. The Columbian National. CHICAGO, May 15. - The directors of the Columbian National Bank today resolved to resume business at an early date.

10. May 16, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, May 16, 1893

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OTHER FAILURES. None of Much Consequence in This Country-Heavy in Australia. SIOUX CITY. Iowa, May 15.-The Sioux City Street Railway company, operating thirty-two miles of electric lines in this 1 city, passad, into the hands of a receiver to-day after consultation with eastern oreditors. James F. Peavy, president of the company, was named by consent. The plant is valued as $1,000,000. The floating indebtedness is $275,000. The receivership was thought advisable because of the diff. culty of floating consolidated bonds to secure $525,000 of first mortgage paper. Creditors consist the company's embarrassment only temporary. MINNEAPOLIS, May 15.-The Farmers and Merchants State bank suspended payment, the following notice being posted on the doors: "Pending R run this bank has suspended payment. Expect to resume in a few days." The statement shows a capital of $60,000. surplus $7,000. The suspension canses no surprise, as it has been looked on as weak for some. It should be noted that this is not the Farmera and Mechanios Saving bank. BRISBANE, May 15.-The Bank of North Queensland and the Queensland National bank have suspended. De. osits in the latter at the last report we're £8,500,000, half of which were from Great Britain. It's subscription capital WHB £16,000,000, half paid up. It has claimed a reserve of £500,000. It has a bianoh in Sydney, N. S. W., and various other places in Australia. DENVER. May 15.-Wm. H. Mygatt. banker and real estate deale', Resigned today. Assets are given at $591,860 and liabilities at $507,389. The principal creditor in Denver is the National Bank of Commerce, to which Mygatt owes over $40,000. gatt said that conse vativo business men assured him his assets are really worth more than the statement filed. LONDON. May 15.-Private cables announce the suspension of the Commercial Banking com any, of Sydner, N. S. W., one of the oldest banking concerns in the antipodes. Capital £600,000, reserve £800,000. There were many branches in Queensland and New South Wales. For this and other reasons uneasiness on the London stock exchange is increasing. LONDON. May 15.-R. Hodgson & Sons, the well known broke a mentioned as failed Saturday, have been helped over their diffioulties. The stock exchange was norvously excited, everybody was selling. So far only two small houses have failed. but several large houses are said to be involved. TORONTO. May 15.-The Ontario Coal company assigned to-day. The Nelson bank is the principal local creditor, the amount of paper held by 11 being between $250,000 and $400,000. The Ontario bank is interested to the extent of over $100,000. MILWAUKEE. May 15.-The Plankington bank opened an hour earlier than usual this morning. There was no renewal of Saturday's run and the flurry seems to have entirely subsided. Deposits far exceeded withdrawals this morning. BRISBANK, May 15.-The Permanent Building and Loan association of this city suspended payment to-day. The New South Wales government has proclaimed bank notes legal tender. CHICAGO, May 15.-The directors of the busi Columbia bank met to-day and deolded to resume as soon as possible. BOSTON. May 15.-R. & J. Gilchrist & Co.. diy. goods, assigned. Liabilities and assets not yet known. NEW YORK, May 15.-The report of the Cordage receiver shows assets of $10,000,000.

11. May 16, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, May 16, 1893

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NEW YORK, May 15.-Senator Sherman was seen regarding the reports that he approved the banking methods of Dwiggins of Indiana. He said: "The statements of the man Dwiggins, if that is what you call him, are absurd. I deny them in toto. I don't know the man, or his bank or his banking business or his methods or the of his failure. It is absurd even to cause think I could have approved any such methods as this man seems to have employed." MINNEAPOLIS, May 15.-The Farmers' Merchants' State Bank has suspended and payment. The following notice is posted on the doors: "Pending the run this bank has suspended payment. Expect to rein a few days." The statement sume shows a capital of $60,000, and a surplus of $7000. The suspension causes no surprise, the bank has been looked upon,as weak for as some time. It should be noted that this 13 not the Farmers' and Mechanics' Savings Bank. The Northwestern Guaranty Loan Comis in financial embarrassment, owing paby the financial stringency. President to Menaze was shown a statement by VicePresident Lowery, made in New York, as to the company's affairs, saying the com- at pany might have to suspend to-day, or, it could not stave it off long. He adstatement was a mitted least, Lowery's had fair not one. susbut added that the company pended, Further than this he would not talk. If the company suspends it will not in do 50 for several days. It is believed business circles here the company will pay in full, RS the resources are ample under ordinary circumstances. TROY, N. Y., May 15.-Nehr & CarpenEastern managers of the Northwestern ter, Guaranty Loan Company at Minneapolis, and this morning made an assignment closed their doors. Two million dollars of the sixteen millions debenture bonds recently issued by the Northwestern Guarany Loan Company have been disposed of to people in this city and vicinity through them. CHICAGO. May 15.-The directors of the burst Columbia Bank met to-day and deeided to resume as soon as possible. Godfrey. Clark & Co., paper dealers, this morning confessed judgment for nearly $100,000. There is no statement of assets or liabilities. MILWAUKEE. May 12.-The PlankingBank opened an hour earlier than usual ton this morning. There was no renewal of Saturday's run, and the flurry seems far to have entirely subsided. The deposits exceed the withdrawals this morning. INDIANAPOLIS, Ind., May 15.-United States Bank Examiner Young and State Bank Examiner Packard are going through the affairs of the Capitol National Bank. Mr. Packard authorizes the statement that there is considerable more money in cash in than was reported by the bank The Capitol officers officers. the bank that furnish within a statement which indicates thirty days cash amounting to $480,000 available. They also million of paper with the possible which may not be at of all $50,000, will the is be good bank's dollars convertible exception claim of that that as of the into money, and say the Chemical of will be able to resume also, soon they present as Chicago favorable. provided resumes the Bank Examiners' report is A run on the Farmers' and Mechanics' Savings Bank began this morning. chiefly by small deposstors. It is considered one of the strongest banks in the State. There are no fears for its safety. DENVER, Colo., May 15.-William H. Mygatt, banker and real estate dealer, assigned to-day. His assets are given at $591,860 and his liabilities at $507,389. The creditor in Denver is the Naof Commerce, to owes over $40,000. Mygatt business man tional gatt principal conservative Bank had which said assured than that Mya his assets were really more filed. As he will pay out and have a Eastern banks, he were the stands. him left. that statement The the said, statement margin becoming afraid of all security, and espepecially discriminating against Western paper. Banks with which he had done business for a long period recently refused to take securities which they had hitherto desired to accept.

12. May 16, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, May 16, 1893

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ABBREVIATED TELEGRAMS. Obituary: At Burlington, Vt., Bishop W. H. A. Bissell; at Galena, Ills., Mrs. Margaret Rubens, aged 99 years; at Nunda, Ills., .C. Mallory, aged 83, the oldest Odd Fellow in the state. The Chinese government is said to have decided to deport all Americans from China in case the Geary law excluding Chinamen from the United States is carried into effect. Two members of the Salvation army arrested at Sioux City have confessed that they belong to a gang of counterfeiters. According to a Washington rumor Baby Ruth may soon have to surrender a portion of the White House nursery to an expected stranger. Before he sailed for home Paderewski sent a check for $500 to the fund for erecting a Polish monument in Chicago. George Lizotte and his wife, the latter a niece of Justice Harlan, have been on a wedding tour ever since their marriage in 1891. They like the life, and say they may continue it as long as they live. Thus far they have traveled 57,000 miles, and have visited almost every town of any size in North America. An explosion of gas in the mine of the Lincoln (Ills.) Coal company fractured the skull of Joseph Page, and injured several others. Went into the mine with naked lamps against the rules. Chief Arthur has filed his answer to the $300,000 damage suit against him by the Ann Arbor railway. He admits nothingexcept that the brotherhood has a boycott rule-and denies every allegation made by the plaintiff. The broad of directors of the Chicago Columbian National bank have resolved to resume business at an early date. President Dwiggins says that the statements published to the effect that the business done by the bank was not regular are false. A narional bank, he says, cannot be run on wind. The United States treasury will this week destroy $152,000,000 of unissued bonds. President and Mrs. Cleveland have taken possession of their summer residence near Washington. Nearly all the saloons at Muscatine, Ia., have been closed by injunctions. No clew to the dynamitards. The bank of North Queensland, Australia, with deposits of over $42,000,000 has suspended. It had a capital paid up of over $35,000,000. The Commercial Banking company, of Sydney, has also suspended. A female Dick Turpin is operating at New York. Her latest attempt was on a man whom she choked nearly to death be. fore he could overpower her.

13. May 18, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, May 18, 1893

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CONDENSED TELEGRAMS. Two hundred operators in the Overland Cotton Mills in Denver, Col., quit work yesterday because of an order increasing the hours of work from sixty to sixty-six hours per week. Mrny of the operators are children, ranging from eight years upward. The average of wages is $8 per week. Mrs. Fannie Ragland has sued Woodward & Lothrop; of Washington, D. C., for $20,000 for having her searched in their establishment, where she was arrested by a private detective OL the charge of stealing a diamond ring. which was not found on her. George Kennan, the writer on Russian subjects, has sent to the President four protests from associations of the Russian and Polish refugees in Geneva and Zurich, Switzerland, London and Leeds, England, against the recently ratified Russian treaty. Orlando Packard, State bank examiner of Indiana, says the bank situation in that State is better. Ten banks failed as a result of the failure of the Columbia bank of Chicago and a bank in Minneapolis suspended. There are in the United States treasury nearly a million dollars in gold in excess of the $100,000,000 reser ve.

14. May 18, 1893 The Farmers' Union Memphis, MO
Article from The Farmers' Union, May 18, 1893

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Bank Doors Closed. Bank Suspended." That was the legend affixed to the door of the Columbia National Bank in Chicago, at 10 o'clock Thursday morning. Close by this announcement was another to the effect that, there having been a run on the concern for some time. it was deemed best to close the doors in order to protect the Interested parties A large crowd quickly gathered at the bank entrance of the building, but there was little surprise shown over the announcement. The fact is, according to a dispatch, banking circles have been expecting a suspension for some time past, and even the patrons of the bank have not looked upon it as a safe place for the keep. ing of their money.

15. May 18, 1893 The Somerset Reporter Skowhegan, ME
Article from The Somerset Reporter, May 18, 1893

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The Columbian National Bank of Chicago closed its doors May 12. It is said to be a bad failure and not much surprise was expressed in financial circles at the suspension. Some eighteen or twenty small banks and firms of bankers in Illinois, Ohio, Michigan and Indiana, connected with this Chicago bank have also suspended creating quite a financial flurry in those states. There were about forty banks connected with the Columbian bank combination.

16. May 18, 1893 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, May 18, 1893

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PITH OF THE NEWS. The Grecian cabinet has been com. pleted. The Columbian National bank, Chicago, will resume business. Quimper and Lorient have been officially declared free from cholera. Chilean mine owners are anxious to im port World's fair machinery after the exposition is over. As a result of the lumber shovers' strike, the docks of Buffalo and Tonawanda are crowded with vessels. William B. Mygatt, a broker and business man of Denver, Col., failed for $507,+ 889:35. His assets are placed at $591,806. In a quarrel W. A. Bisbee, city treasurer of Jacksonville, Fla,, cut ands eriously wounded C. F. Warriners, a prominent a to secure citizen, An effort with relaxation is being penknife. of made the quarantine a permanent regulations of the port of New Orleans against British Honduras. Nehr & Carpenter, eastern managers of the Northwestern Guaranty Loan company of Minneapolis, which is somewhat embarrassed, made an assignment. Senator Sherman denounces as an "outrageous lie" the statement of Dwiggins that the senator had examined and indorsed Dwiggins' banking scheme. The Farmers' and Merchants' State bank of Minneapolis suspended payment. It is a small concern, its paid-up capital being $60,000, and its surplus $7,000. The general secretary of the Christian Endeavor societies has notified President Palmer of the World's fair, that 1,500,000 members will oppose the opening of the fair on Sunday. Captain Higginson has been removed from the cruiser Atlanta for dilatoriness in sailing from Greytown to Nicaragua, and has been ordered home. Captain Bartlett succeeds him. The private car in which President Lincoln made many journeys, will be exhibited at the World's fair, having been used for many years as the work car on the Colorado Central railroad. A convention has been signed between Brazil and France for the appointment of 'a mixed commission to settle the dispute between the two republics over the boun dary between Brazil and French Guiena Mrs. J. E. Clogh, wife of the well known Baptist missionary, inet with a in a which closed killed frightful by death folding bed, Chicago. She upon was her, while her daughter stood by powerless to prevent. Members of the Indiana Civil Service Reform association have called the attention of the president and postmaster general to the disregard of civil service reform methods under the new administration of the been city a Consternation Terre of Valencia Haute has postoffice. by dynamite created outrage, in the apparently intended to strike terror into the aristocratic families of that city. The affair is attributed to the anarchists, who are once more becoming active in Snain

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

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ANOTHER WESTERN BANK GOES DOWN. THE EVANSTON NATIONAL OF ILLINOIS CLOSED -GRAIN DEALER'S IN TROUBLE. Chicago, May 18 (Special).-Some more of the aftermath of the Chemical and Columbia National Bank failures came to the surface 10-day. The Evanston National Bank, of Evanston, which did business with the Chemical, falled to open this morning, the following notice, signed by Henry Wells, the president. being posted on the door: "Owing to heavy drains made upon our deposits and the stringency of the money market this bank suspends payment. Depositors will be paid in full." All the men connected with the bank declare that depositors will be paid in full and that the bank will reopen in three days. The capital stock of the institution is $100,000. The last public statement was made March 6, when the amount of deposits was given ás $161,023 81 Since that time, however, the bank has been in bad standing. and depositors have gradually drawn out. Since Monday the bank. paper has not been accepted by the Chicago Clearing House. Rumors of the shakiness of the bank have been current for the last week or so. The concern cleared through the Chemical National until that bank falled. Then the officials of the Evanston Bank requested the privilege of clearing through the Metropolitan Bank, which consented to pay their checks as long as they kept enough money at the Metropolitan to cover all claims. Yesterday their deposit became exhausted and the local bank refused to honor any more of the Evanston Bank's checks. Bank Examiner Caldwell was seen In regard to the cause of the suspension and gave the following statement: "I received orders yesterday from Washington to examine the bank and did so. On reporting Its condition to Controller Eckels, I received orders to close the bank at once. The bank was suffering from a run and did not have the money on hand to pay out. As matters stand. there is $60,000 in deposits unpaid. I see no reason, so far, for depositors not being paid In full." N. A. Hill, vice-pre-ident, attributed the sudden run the failure of the Chemical at Chicago. "We did not to lose much by that failure, but It was known here that the Chemical was our correspondent," said he. This scared depositors and they began drawing out money faster than we could realize on our securities." "Was there no other reason for the run ?" Hill was asked. After some hesitation he replied: "Well, I suppose our president's trouble with a number of lumber deals he was in hastened matters. He was a heavy loser by the failure of the Cafro Lumber Company. and was also a loser in several other lumber failures. These matters became noised about and the run began." Among the business men about town the suspension is thought to have been caused by poor financiering methods. This afternoon the Board of Trade firm of N. 11. Warren & Co. closed Its deals. The firm has been on the bull side of corn for a long time-in fact, ever since the market was in the 50s-and the drop since has been rapidly exhausting its ready means. The crowning trouble was the fact that their funds were locked up in the Columbia Bank. As the firm was not in a position to respond to additional calls, those having trades with it deemed it predent to close them out. So at the start there was free selling for this account, and July touched 42 cents. About 600,000 bushels were closed out on the firm's account. The failure-If such it may be calledproduced very little excitement.

18. May 19, 1893 The Iola Register Iola, KS
Article from The Iola Register, May 19, 1893

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Another Failure at Sloux City. SIOUX CITY, Ia., May 12.-The announcement of the failure of the Columbia National bank of Chicago sent the Sioux City engine works to the wall, and W. M. Thompson was appointed receiver for the company. He qualified under a $50,000 bond.

19. May 20, 1893 The Van Buren Press Van Buren, AR
Article from The Van Buren Press, May 20, 1893

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About a dozen small country banks in Illinois, In diana, Ohio and Michigan, the most of them connected with the failed Columbia National Bank of Chicago, have suspended business.

20. May 20, 1893 Peninsula Enterprise Accomac, VA
Article from Peninsula Enterprise, May 20, 1893

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Last week seven banks in Indiana suspended business, three in Ohio failed, and five in Michigan and one in Illinois closed doors. Their disaster is due to connection with the Columbia National Bank of Chicago, which suspended Thursday.

21. May 20, 1893 Peninsula Enterprise Accomac, VA
Article from Peninsula Enterprise, May 20, 1893

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Two old fashioned parlor rocking chairs, once the property of Mary Washington, have been presented to the Masonic Lodge at Fredericksburg. Gold lands are looking up in Virginia. It is understood that Dr. Cooke refused $25,000 for a tract of land below Morrisville with gold on it. # ALEXANDER H. STEPHENS MONUMENT The monument recently erected to the memory of Alexander H. Stephens, Vice-President of the Confederate States, at Liberty Hall, will be unveiled May 24. On and after May 21 the World's Fair grounds will be open every Sunday. This decision was reached at a meeting of the directors of the exposition on 12th inst. Virginia's new oyster law has been in operation seven months. The receipts from October 1 to May 1 were $27,369.87 and the disbursements $10,968.05, leaving a net balance of $16,401.82. Col. A. S. Buford, president of Virginia World's Fair Board and widely known throughout the State for many years as a railroad president, has announced himself as a candidate for the gubernatorial nomination. The Governor of New York has signed the bill making it a misdemeanor for publishers or proprietors of newspapers to misrepresent their circulation for the purpose of securing advertising or other patronage. A new medical college, to be called the College of Physicians and Surgeons of Richmond, is to be established there, and will open its doors next fall to students. Dr. Hunter McGuire is at the head of the movement. Every road leading out of Raleigh, North Carolina, with one exception, has been graded and nicely macadamized for several miles. A business gentleman estimates the gain to the city from truck alone at from $10,000 to $15,000, per annum. Last week seven banks in Indiana suspended business, three in Ohio failed, and five in Michigan and one in Illinois closed doors. Their disaster is due to connection with the Columbia National Bank of Chicago, which suspended Thursday. The Southern Baptist Convention Monday adopted a resolution in favor of closing the World's Fair on Sunday, and the committee on time and place of holding the next meeting reported in favor of Dallas, Tex., the Friday before the second Sunday in next May. The Young Men's Christian Association Convention at Indianapolis, adjourned on Saturday after passing resolutions condemning the opening of the World's Fair gates on Sunday. Ex President Harrison and John Wanamaker addressed the convention. Gen. S. C. Armstrong, founder and superintendent of the Normal Institute at Hampton, died last week aged fifty-six years. Ever since the war he has devoted his life to the manual training of young colored people and Indians of both sexes. He often had as many as 1,000 under his care. Col. J. Hampton Hoge, of Montgomery county, Va., has been appointed consul at Amoy, China. This position was tendered him by Mr. Quincy, in lieu of the Hong Kong consulate, for which he was an applicant. The position pays $3,500 a year, to which are added fees probably reaching $2,000 per annum. Governor McKinney has returned from Washington, where he went to make an arrangement to secure a steamer for prosecuting the work of surveying the oyster grounds. The steamer Petrel, of the fish commissioners' department, has been placed at the disposal of the Virginia authorities. Captain Baylor will resume operations on June 1, and expects to complete a survey of the grounds during the summer. A handsome monument over the remains of Confederate soldiers buried in Oakwoods Cemetery, Chicago, is to be unveiled on the 25th of July next. Starting with a nucleus of $1,500, raised by the Monument Association through a lecture delivered by Gen. John B. Gordon, of Georgia, a sufficient sum has been secured, and the monument is rapidly approaching completion. A generous response from the citizens of Chicago was a subscription of $10,000. President Cleveland was recently written to and asked to become a member of the Virginia Historical Society. A few days ago Private Secretary Thurber responded to this letter. He said there were so many appeals to connect himself with similar organizations that Mr. Cleveland had concluded not to join any of them. Ex-President Harrison was recently elected a member of the Virginia Historical Society. The remains of President Davis will be brought to Richmond in an observation car, which will be specially draped and painted for the purpose. The sides of the coach are practically made of glass, and when the casket is placed on an elevation in the centre of the car it will be visible as the train moves along. The detailed instructions for the arrangement of the car have not yet been given to the Richmond and Danville officials, but as soon as they are decided upon the work will be commenced and rapidly pushed to completion. The hand book which the State commissioner of agriculture will issue shortly will contain information for those desiring to settle permanently in Virginia. This work will have a succinct statement of the claims of each county. Not only will it show

22. May 23, 1893 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, May 23, 1893

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Bernard Levy was overcome by heat in New York city yesterday. The Beattley Glass works, at Tiffin, O., were entirely consumed by fire. The. loss is over $200,000 and is insured. Among the Pennsylvania postmasters just appointed are: Collins Dean, Annville; A. C. Clugston, Doylesburgh. The president has recognized Engelbreth Hagbarth Hobe as vice consul of Sweden and Norway at St. Paul, Minn. Francisco Tasso, an Italian exhibitor of wood carving at the World's fair, was found dead in bed, having by asphyxiated by gas. Comptroller of the Currency Eckels has appointed Mr. William C. Niblack receiver of the Columbia National bank of Chicago. A close estimate places the number of buildings destroyed at Saginaw, Mich., by Saturday's fire at 275, and the total loss sustained $900,000. The Brazilian vessel of war Almirante Barrosa has been wrecked near Ras Ghareba, a port in the coast of Middle Egypt, in the Gulf of Suez. The vessel is a total wreck. The schooner Addie J., of Kingston, Mass., from Provincetown to Vinal 1Haven, Me., foundered off Rockland, Me. Her crew of three men were saved in their own boats. While Deputy Sheriff McLinden was attempting to arrest a negro charged with larceny, in Geneva county, Ala., he was shot and killed by the negro, who then escaped. It is understood that Mr. Bernard Goode, of Detroit, Mich., will soon be appointed superIntendent of the dead letter office, postoffice department, at Washington,vice D. P. Leibhardt, resigned. A number of pretty well known men hap pened to meet in a club one evening last week, and after awhile the conversation drifted to religion. Each one told his denomination. "I'm a Congregationalist," said one. "And I am a Methodist," added another. "And I a Presbyterian," said a third. The would be funny man, who is always present in a crowd, turned to the waiter, who was just then serving out refreshments, and asked: "And what are you, Pat?" "Oi'm an Oirishman," replied Pat, and the funny man subsided.-Brooklyn Eagle.

23. May 26, 1893 The Times Owosso, MI
Article from The Times, May 26, 1893

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TUTT'S PILLS harmless and effective: Wm. C. Niblack has been appointed receiver of the defunct Columbia National bank at Chicago.

24. March 2, 1894 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, March 2, 1894

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ZIMRI DWIGGING. He and His Partner Again Have to Answer For Fraud. TOLEDO, March 2.-Zimri Dwiggins, president of the wrecked Columbia bank of Chicago, and his partner, Starbuck, were made the defendants of a second edition of charges in connection with the defunct bank at Elmore, O. Action was brought in the United Niblack, States court here by Wm titution, receiver of the Chicago against S. W. Reed, assignee of the Ottawa bank of Elmore, on a cross bill in

25. July 26, 1894 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 26, 1894

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# Columbia Bank Stockholders Sued. William C. Niblack, receiver for the Columbia National Bank of Chicago, yesterday filed suits in the United States Circuit Court against Conrad H. Zeis and G. K. McComas to collect assessments due the insolvent institution. The defendants live in the northern part of the State. Both were stockholders in the Columbia Bank, and it is alleged that they have refused to settle their share of the assessment. Judgment is asked for $4,000 in each suit.