Ellensburg National Bank (Ellensburg, WA)

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Episode Information

Episode UID
386701123
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
38670 national
Charter Number
3867
Start Date
July 27, 1893
Location
Ellensburg, Washington (46.997, -120.548)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e385d7a54842a4cc

Response Measures

None

Receivership Details

Depositor recovery rate
43.7%
Date receivership started
1896-07-18
Date receivership terminated
1900-07-09
OCC cause of failure
Losses
Share of assets assessed as good
8.7%
Share of assets assessed as doubtful
45.5%
Share of assets assessed as worthless
45.8%

Description

Suspension occurred during the July 1893 wave of bank failures and later reopened by Comptroller Eckels' authority.

Events (5)
1. April 14, 1888 Chartered
Source
historical_nic
2. July 27, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension occurred amid contemporaneous failures (e.g., Portland banks) and drainage of cash/withdrawals tied to regional banking panic.
Newspaper Excerpt
ELLENBBURG, Wash.. July 27.-The Ellensburg National bank suspended payment to-day.
Source
newspapers
3. October 21, 1893 Other
Newspaper Excerpt
The National bank of this place which suspended last July, will open its doors next Monday by authority of Comptroller Eckeis, the directors ... will open next Monday by authority of Comptroller Eckeis.
Source
newspapers
4. October 28, 1893 Other
Newspaper Excerpt
The Ellensburgh National bank, which suspended in July, has resumed business by authority of Comptroller Eckels.
Source
newspapers
5. July 18, 1896 Receivership
Source
historical_nic

Newspaper Articles (15)
1. July 28, 1893 The Helena Independent Helena, MT
Article from The Helena Independent, July 28, 1893

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WIDELY SCATTERED. Hard Times in Varions Sections of the Country. PORTLAND, Ore., July 27. - -The Oregon National bank and the Northwest Loan and Trust Co., kindred institutions, failed this morning. The suspension caused no excitement and had no appreciable effect on the other banks of the city. The Oregon National's last statement shows total resources of $750,000. liabilities of $450,000. The ohief creditor is Multnomab county, the deposit of which amounts to about $300,000. The city of Portland has also on deposit about $20,000. J. L. Hartman, assignee of the Northwest Loan and Trust company, filed n statement this afternoon showing liabilities of $600,000 and Reacts of 860,000. EXETER, N. H., July 27.--The National Granite State Bank temporarily suspended this morning. The institution is declared perfectly sound, embarrassment being caused by the drainage of cash and delayed remittances from Boston. Immediate 16sumption is expected. WILMINGTON, Del., July 27.-A receiver has been appointed for the Wilmington Dental Manufacturing Co. The company is perfectly solvent. Inability to realize on bills caused the directors to take this action for protection. ELLENBBURG, Wash.. July 27.-The Ellensburg National bank suspended payment to-day. George B. Markle, president of the two banks which failed in Portland today, is also president of the Ellensburg bank. SPARTA, Wis., July 27.-M. A. Thayer's bank and the Bank of Spartn closed to-day. Liabilities of the former $175,000. assets $225,000; liabilities of the latter $210.000, assets $300,000. PORTAGE, Wis., July 27. - The City Bank of Portage closed its doors to-day. It was capitalized at $25,000. H. B eese, secretary of state, was president of the bank. PHILADELPHIA, Pa., July 27.-S. H. Morrison, AD extensive lumber merobant, suspended, owing to slow collections, etc. Liabilities $100,000. MIDDLESBORO, Ky.. July -The First National bank failed this morning. No statement.

2. July 28, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 28, 1893

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BANK EXAMINERS. WASHINGTON, July 28. - Comptroller Eckles has placed the national banks that failed yesterday in the hands of bank examiners 68 follows: Examiner Weightman in charge of the Oregon National at Portland, Oregon; Flynn, Ellensburg National, of Ellensburg, Wash.; Wilson, First National of Helena, Montana; Lyman, Montana National, at Helena; Jennings, First National of Spokane, Wash. DENVER, July 28th.-The Denver Hardware Company has failed for 24 large amount. No statement. MT. STERLING, Ky,, July 28.-The Traders' Deposit bank has failed as a result of a run. The liabilities are $150,000; assets $890,000

3. July 28, 1893 The Providence News Providence, RI
Article from The Providence News, July 28, 1893

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New York Market. NEW YORK, July 28.-The $347,000 of gold imported today by no means offset the apprehension arising from the increased credits of the banks caused by the issue of $3,000,000 clearing house certificates here and Boston. Chicago has joined the processionand by a vote of its clearing house members has decided to i-sue clearing house certificates whenever necessity arises. The issue of these certificates would not be a matter worthy of thought were the feelings of the business men those of confidence. But they know that the shipments of money to the interior at the rate of two millions each day is only met by the issue of clearing house credits. In other words the less the resources of the banks are because of withdrawn deposits, the more the liabilities are collectively increased by the issue of certificates. Such a practice may be remedied if the disease is known to be of a temporary nature. But when the disease is spread from east to west and is constantly growing more strained, it is not conservative to add to its strength by temporary stimulants. The settlements in London have been acomplished with ease and good results. Foreign houses are soon to receive $50,000 shares of American stocks recently bought for them in our markets, and while they are buying stocks strangely enough they are buying gold as well. The demand for gold today in London was strong. Exchange rates were unchanged, however, and the money rate here reached only 10 per cent. Whether or not the market rally of yesterday was to be continued, was 8000 settled this morning. Pricentsagged all along the line, and the average decline for the day is about two points. Delaware & Hudson alone stands firm. Mr. Weil and the "erities" made another test of the tone of the quotations this afternoon and found it soft. General electric succumbed and dropped from 458/4 at the opening to 311/-the greatest loss shown by any one stock on any one day during the recent decline. Is this an omen for the rest of the market? Notes. 197,000 ounces of silver have been ordered for Europe. The Ellensburg National bank, Washington, has suspended. The A. M. Thayer and Sparta National banks of Wisconsin have failed. The First National bank of Middlesboro, Ky., has closed. The Traders Deposit bank of Mount Sterling, Ky., DAS closed. Liabilities $150,000, assets $390,000. The sub reasury debt balance of $472.000 was paid today, $415,000 gold, $57,000 treasury notes. Copious rains are reported in the west to the great advantage of the corn crop. Four little failures are announced is London today. Warehouse receipts were pressed for sale in Chicago. This gives color to the report that banks are calling for loans on cash wheat and are determined to force its sale,

4. July 28, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 28, 1893

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A Washington Bank. ELLENSBURG, Wash., July 27.-The Ellensburg National bank suspended toNo statement. day.

5. July 28, 1893 Evening Star Washington, DC
Article from Evening Star, July 28, 1893

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WESTERN BANKS CLOSE. Payments Suspended in a Number of Institutions. ELLENSBURG, Wash., July 28. - The Ellensburg National Bank suspended payment yesterday. No statement. George B. Markle, president of the two banks which failed in Portland yesterday, is also president of the Ellensburg bank. CHICAGO, July 28.-A special to the Record from Martinsville, Ind., says: The S. M. Mitchell Bank, established thirty years ago and backed by $500,000, went into voluntary liquidation yesterday. There is $100,000 in its vaults and deposited by it in the Indianapolis banks. The cause of the action, it is said, is the division of the estate. SPARTA, Wis., July 8.-Two banks closed their doors here yesterday-the M. A. Thayer Bank and the Bank of Sparta. The cashiers of both institutions claim the action was taken to protect depositors and that the banks will resume. The liabilities of the M. A. Thayer Bank are placed at about $175,000. and the assets at $225,000, while the liabilities of the Bank of Sparta are said to be $210,000, with assets of $500.000. MOUNT STERLING, Ky., July -Last evening the officers of the Traders' Deposit Bank decided to suspend payment owing to a heavy run on the bank yesterday, caused by the suspension of the Farmers' Bank. The bank owes $150,000 and has $390,000 of good assets, and the officers hope to resume business at an early day. GREAT FALLS, Mont., July 28.-The First National Bank of this city suspended this morning on account of the Helena bank suspension. Assets are much above liabilities, and it is believed it will soon resume.

6. July 29, 1893 The Morning News Savannah, GA
Article from The Morning News, July 29, 1893

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An Ellensburg Bank Suspends. Ellensburg, Wash., July 28.-The Ellensburg National Bank suspended payment yesterday. No statement has been given out. George B. Markle, president of the Towns bank, which failed in Portland yesterday. is also president of the Ellensburg bank.

7. July 29, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 29, 1893

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NEWS NUGGETS. Srought by the Wires From the North. East South and West. The Ellensburg National Bank of Ellensburg Wash. suspended payment Thursday. The First National Bank of Great Falls, Mont., suspended Friday noon. The bank's assets are much above the liabilities. A Negaunee (Mich.) dispatch says that the North Buffalo Mint of the Buffalo Mining Company closed down Wednesday night. The Minnesota Iron Company will immediately close all mining operations at the hard ore mines of the company in Michigan until further notice. Adolph Goldsmith & Son, jewelers and diamond dealers, 38 Maiden lane, New York, have assigned. It is believed their liabilities will be large. A special from Port Washington, Wis., says the German American Bank at that place failed Friday. Seymour's Bank at Chippewa Falls also failed. At a meeting of the Tremont and Suffolk mills at Lowell, Mass., held in Boston, Friday. it was voted to operate these mills on half time. beginning Friday. Surgeon Martin of the navy, on duty at Marseilles, cabled Dr. Wyman, surgeonveneral of the marine hospital, Friday that cholers prevails at Lavalette and Aubenas, France. James G. Hill of the Great Northern Railway has purchased the Sioux City Northern Railway and also the Sioux City, Yankton & Southwestern Railway now under construction. An Ishpeming (Mich) telegram says that the Lake Superior Iron Company, which laid off 250 men 10 days ago, will close down section 16 of their mine, throwing 200 men out, Saturday night. The New Farmers' Bank of Mt. Sterling, Ky., closed its doors Friday. The deposits are about $300,000. The bank holds first-class paper to the amount of $600,000. Depositors will be paid in full. The Traders' Deposit Bank of Mount Sterling, Ky., has suspended owing to H the avy run bn the bank Tuesday caused by the suspension of the Farmers' Bank. The bank owes $150,000 and has $390,000 of assets, po The wire nail manufacturers of Pitts. burg, Pa., held a meeting and, in view of the depressed condition of business. it WHS decided to continue the shut down until Sept. 1. All wire nail manufactories in the United States are shut down at present. The schooner Aldine from Rockport, Maine, July 15, for Port De Paix. Hayti, hich put into Bahia for repairs, has been the pas that she discharge her cargo, as she is leakng badly and her upper works are dampase Two banks closed their doors at Sparta. Wis., Friday, the M. A. Thayer bank and the Bank of Sparta. Liabilities of the Thayer Bank are about $175,000. and the assets $225,000. The liabilities of the Bank of Sparta are 8210,000, with assets 10 The Harrisburg Rolling Mill Co., one of the largest creditors of the American Tabe and of Harrisburg. Pa., which

8. August 2, 1893 The Star Reynoldsville, PA
Article from The Star, August 2, 1893

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FINANCIAL AND COMMERCIAL. At Portland, Ore., the Union Banking Company suspended. At Ellensburg, Wash,, the Ellensburg National bank suspended. At Chamberlain, D. N., the Chamberlain National Bank failed. At Sparta, Wis., the M. A. Thayer bank and the Bank of Sparta, both supposed to be solvent, closei Thursday. At Great Falls, Mont., the First National bank, with a capital of $200,000, suspended.

9. August 4, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, August 4, 1893

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THE FINANCIAL CRISIS. Banks Continue to Suspend In the West. The South Seems to be as. Solid as the North. A special from Martiusvilie, Ind, says: S. M. Mitchell's Bank, establi. hed here thirty years ago, backed by $500, 000, went into voluntary liquidation yesterday. There is $100,000 in its values and deposited by it in Indian apolis banks. The cause of the action, it is said, is the division of an estate. A FAR-AWAY WESTERN BANK. ELLENSBURG, WASH.-The - Ellens' urg National Banksuspended payment Thursday BANKS IN WISCONSIN. SPARTA, Wis.-Two backs closed their doors here-the M. A. Thayer Bank and the Bank of Sparta. CHIPPEWA FALLS, WIS.-G. W. Seymour's private bank closed it doors. There are runs on all the other banks in town. PORTLAND, ORE.-The 1 Union Bask ing Company has suspended. GREAT FALLS, MONT. - The First Na. tional Bank of this city suspended pay ment. ANOTHER KENTUCKY BANK. MOUNT STERLING, KY. - The officers of the Traders' Deposit Bank desided to suspend payment, owing to a heavy run on the bank caused by the suspension of the Farmers' Bank. BIDDEFORD, Mr.-The York Mills at Baco shut down Saturday for two weeks, owing to overp. oduction.

10. August 4, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, August 4, 1893

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THE FINANCIAL CRISIS. Banks Continue to Suspend In the West. The South Seems to be as. Solid as the North. A special from Martinsville, Ind, says: S. M. Mitchell's Bank, establi. hed here thirty years ago. backed by $500, 000, went into voluntary liquidation yesterday. There is $100,000 in its values and deposited by it in Indian apolis banks. The cause of the action, it is said, is the division of an estate. A FAR-AWAY WESTERN BANK. ELLENSBURG, WASH.-The Elleosburg National Banksuspended payment Thursday. BANKS IN WISCONSIN. SPARTA, Wis.-Two backs closed their doors here-the M. A. Thayer Bank and tbe Bank of Sparta. CHIPPEWA FALLS, WIS.-G. W. Seymour's private bank closed it doors. There are runs on all the other banks in town. PORTLAND, ORE.-The Uuion Bask ing Company has suspended. GREAT FALLS, MONT. - The First Na. tional Bank of this city suspended pay ment. ANOTHER KENTUCKY BANK. MOUNT STERLING, KY. - The officers of the Traders' Deposit Bank decided to suspend payment, owing to a heavy run on the bank caused by the suspension of the Farmers' Bank. BIDDEFORD, Mr.-The York Mills at Baco shut down Saturday for two weeks, owing to overp.oduction.

11. August 4, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, August 4, 1893

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LARGE ORDERS FOR GOLD Much of the Precious Metal Now ComIng Back from England. SYMPTOM OF RETURNING CONFIDENCE heat Reaches the Lowest Point Ever Recorded on the Chicago Board of Trade-Other Financial News. WASHINGTON, July 28.-The large orders given by New York financial houses for gold aboad to be imported is regarded at the treasury department as a favorable symptom of returning confidence. Much of the gold now coming here is the same that was exported several months ago. The heavy shipment of American cereals abroad within the past two months have materially reduced the balance of trade against the United States. Another Portland Bank. PORTLAND, July 28 -The Union Banking Company assigned today. No statement is given out for publication. A notice on the door says that owing to the withdrawal of deposits and inability to make collections the bank closed. F. Hacheney has been appointed assignee. None of the bank's officers could be found, and no statement could be obtained. The bank did a small business. It was incorporated about two years ago with a capital stock of $100,000 by H. A. Hogue, J. A. Child and R. P. Earhart. A small run was made this morning on the Merchants' National bank. It was a promptly met by the bank. It is believed the crisis is now past in this city. Wheat Reaches the Bottom. CHICAGO, July 28.-Everything traded in on the board of trade was weak today, chiefly on account of the action of the associated banks as to issuance of clearing house certificates, operators believing that it portended the fears of the financiers and further increased the monetary stringency. The wheat market touched the lowest point recorded in the history of the board of trade. September dropped to 62½. Bank Examiners in Charge. WASHINGTON, July 28.- Comptroller Eckels has placed the national banks that failed yesterday in the hands of bank examiners as follows: Examiner Weightman in charge of the Oregon National at Portland, Oregon; Flynn in charge of the Ellensburg National, of Ellensburg, Wash. Caused by the Helena Banks. GREAT FALLS, Mont., July 28.-The First National Bank failed this morning owing to the Helena bank suspensions. The assets are much above the liabilities, and it is believed the bank will soon resume. The Result of a Run. MOUNT STERLING, Ky., July 28.-The Traders Deposit bank has failed as the result of a run. The liabilities are one hundred and fifty thousand dollars and the assets $390,000. Clearing House Certificates. NEW YORK, July 28.-The clearing house committee issued two millions of clearing house certificates up to noon. The total now outstanding is twenty-five and a quarter millions. Hardware Company Fails. DENVER, July 28.-The Denver Hardware Company has failed for a large amount. - No statement is given.

12. August 31, 1893 The Yakima Herald Yakima, WA
Article from The Yakima Herald, August 31, 1893

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GATHERED ABOUT HOME. Personal, Social and Business Events Locally Important. NOTES FROM THE MADDING THRONG. A Grist of Gossip, Bits of Fact and Fancy, Movements in Active Life, Drift of Popular Speculation and News Items Generally. Frank Reed and Keith Dunlop returned on Friday from Fish lake. The one-year-old son of T. R. Fisher died Friday, August 25, of cholera infantum. Mike Mackison and John Corbett, the well-borer, were up from Prosser last last Saturday. R. L. Hodgdon, of the Seattle Tele graph, was in the city last Saturday, and called on THE HERALD. W. B. Dudley, who has been engaged at Prosser for the local land company, returned to Yakima on Friday. Henry. Schott and family returned Friday last from an extended visit to relatives in Minnesota and the World's fair. Harry Coonse, ex-deputy treasurer of Yakima county, returned on Saturday from an extended sojourn in Chicago and other eastern cities. J. M. Henderson has succeeded W. H. Crook on the police force, and Thos. Norton is working as a special officer during the hop season. A number of families in neighbor valleys are preparing to move to Yakima during the winter for the purpose of obtaining educational advantages for their children. The Capitalsays that depositors of the Ellensburgh National bank refused to aecept the proposition for resuming made by Examiner Flynn, and it is expected a receiver will be appointed at once. The city school buildings are receiving careful attention from the painters and varnishers. Bryson & Hauser are doing the work. Everything is being put in readiness for the opening of the schools on the 18th inst. Phil Ditter, of the firm of Ditter Bros., returned Sunday evening from an ex tended business and pleasure trip in the east. During his absence he has seen the World's fair, visited relatives and transacted business for his house. W. F. Roaf. manager of Allen's drug store, left on Thursday night for Chicago, where he will join his children and mother and brother, who have been visising in New York. Together they will make an extended visit in the east. Jackson, the fellow who stole a team from Palmer & Pond recently, is giving Jailer Magee no end of trouble by playing the crazy act. He yells, whistles, fights, refuses to eat and makes himself a terror generally.-Ellensburgh Capital. J. H. Hathaway, near the northwestern limits of the city, is erecting a handsome residence on his little farm. The structure when completed will cost $2000 or more. Theo. Stone, who recently erected a fine residence in that locality, has given the structure the final coat of paint. A. N. Short and wife and Mrs. Charles Mabry returned on Friday from a mountain sojourn in the vicinity of Fish lake. Mr. and Mrs. Sam Chappell, who were members of the same party, were compelled to take the train a day earlier for home on account of the latter's severe illness. George H. Watt, a member of the corps of teachers in the agricultural college at Pullman, but formerly principal of the Yakima schools, is now en route home from quite an extended visit in Ohio. He and wife will stop at Chicago and enjoy the interesting features of the World's fair. By a change of management, W. W, Watson is now editor of the Yakima HERALD and James R. Coe is business manager. E. M. Reed, the retiring edifor and manager, has made a great success of the HERALD, and it is a credit to its town. It will without doubt continue to improve.-Ell/nsburgh Capital. It is but a few years since Yakima commenced raising hops. It is now one of the important industries of the county. So successfully has the business grown that Yakima can bank on her hop raising; as nearly all the hop producers are now independent men, with bank accounts.-Ellensburgh Capital. Dr. G. J. Hill is now the happy possessor of one of the finest and most comfortable and convenient turnouts in the country. It consists of one of the proudest and most speedy roadsters in the valley and a handsome phaeton. The doctor certainly has cause to look 80 pleased as he skims along our pretty country thor. oughfares. E. J. Hardison, of the famous Sunnyside district, and a member of the Democratic county central committee, was in town on Saturday. Mr. H. has been confined to his home for some days with an attack of the old-fashioned ague, but he believes he now has the stubborn disorder under control. Everything in the vicinity of Zillah IS reported to be in excellent condition. Messrs. Swain & Haight are in possea-

13. October 22, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 22, 1893

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GOOD NEWS FROM ELLENSBURG. Business Men Favor the Repeal BillNational Bank to Reopen. ELLESSBURG, Oct. 21.-[Special.]-A petition signed by about 100 business men regardless of politics was sent from here today, asking Senator Squire to use every effort in his power to secure repeal of the Sherman law and to vote for it. The National bank of this place which suspended last July, will open its doors next Monday by authority of Comptroller Eckeis, The directors of the Washington Aluminum Manufacturing Company held a meeting today, elected J. M. Hirsch, of Chicago, president, and voted to set aside 20,000 shares to begin with for working capital, the first offering of stock to be at $5 a share, which is half par. Work will begin on the preparatory features of the plant as soon as possible. The aluminum will be extracted by Hirsch's electric process, the dynamos and other machinery to be run by water power.

14. October 28, 1893 The Kootenai Herald Bonners Ferry, Kootenai, ID
Article from The Kootenai Herald, October 28, 1893

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NEWS OF THE NORTHWEST. Hart, the would-be burglar of Dayton, reseived seven years in the penitentiary. John O'Neill of Walla Walla, a habitual drunkard, suicided by taking morphine. William Cummins' new residence at Rockford was destroyed by fire. Loss $1,500. Harry Raymond's residence at Dayton was destroyed by fire, caused from a defective flue. The Ellensburgh National bank, which suspended in July, has resumed business by authority of Comptroller Eckels. Governor McGraw and daughter have gone to the world's fair, intending to return during the first week in November. | A company has been organized at Ellensburgh to test the Hirsh electric process for extracting aluminum from clay. Edward H. Hatfield, one of the wealthiest citizens of Tacoma, and formrrly a Methodist minister, died of heart disease. John R. Atwood, a Portland bookkeeper, pleaded guilty to two charges of forgery and was sentenced to five years in the penitentiary. Tom Page, a Walla Walla lawyer, was arrested there by a deputy United

15. December 12, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 12, 1893

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Ellensburg National Bank All Right. ELLENSBURG, Dec. 11.-{Special.]-The report of the suspension of the Oregon National bank, of Portland, caused some uneasiness here, as the Ellensburg National, which reopened a few weeks ago, had been closely allied to it. This morning a number of business men circulated an agreement not to withdraw funds for a week. Every man found signed it. The bank had no run during the day and none was expected, as the people soon learned that no loans had been made since reopening. and the funds on hand were sufficient to meet all demands.