Johnston, Buck & Company (Ebensburg, PA)

Episode Information

Episode UID
3877254991124
Episode Type
Run → Suspension → Unsure
Bank Type
private
Bank ID
387725499 hash
Start Date
August 10, 1893
Location
Ebensburg, Pennsylvania (40.485, -78.725)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5f4410bd835b9ce6

Response Measures

None

Description

Contemporary reports state suspension was intended as temporary but no article here confirms a later reopening.

Events (2)
1. August 10, 1893 Run
Cause
Macro News
Cause Details
Constant demand for currency and tightness of the money market caused heavy withdrawals over the prior 24 hours.
Measures
Closed doors at noon and posted notice suspending payments temporarily.
Newspaper Excerpt
we consider it to the best interest of all concerned to suspend payments for the present
Source
newspapers
2. August 10, 1893 Suspension
Cause
Macro News
Cause Details
Inability to secure currency during the broader financial panic; bank posted notice suspending payments until panic subsided.
Newspaper Excerpt
Johnston, Buck & Co., bankers, have suspended owing to inability to secure currency. Assets largely exceed liabilities.
Source
newspapers

Newspaper Articles (7)
1. August 11, 1893 The Herald Los Angeles, CA
Article from The Herald, August 11, 1893

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Article Text

SUSPENDED BANKS. Several Heavy Collapses in Nashville, Other Fallures. NASHVILLE, Aug. 10.-The American National bank suspended this morning. The Safe Deposit Trust and Banking company has taken advantage of the 60day notice. The American National was one of the strongest banks in the city; it has a capital of $1,000,000 and 8 surplus of $116,000. The suspension is the result of a run caused by the suspension of the First National last evening, in spite of a published card by the officers saying the bank was perfectly solvent, and pledging personal estates to depositors. A run was also begun on the Fourth National. It has a capital of $1,000,000 and a Burplus of $300,000 and is considered perfectly solvent. The Safe Deposit, Trust and Banking company has posted a notice that depoeitors are safe for every dollar. The run on the Fourth National bank ceased at 5:30. The bank's officiale say the deposite of the day were almost equal to the withdrawals. WEBSTER CITY, Ia., Aug. 10.-Hamilton County State bank, one of the oldest banks in this section, closed its doors today. Liabilities, $132,000; assets, $250,000. KINGSTON, Mo., Aug. 10.-The Caldwell County bank of this place and the Exchange bank of Polo have failed. The latter was the county depository and all the county revenue is tied up. EBENSBURG, Pa., Aug. 10.-Johnston, Buck & Co., with banks here and at Carrollton and Hastings, have BUSpended. They claim assets in excess of liabilities. LEROY, N. Y., Aug. 10.-Lathrop's bank has failed. It is claimed it will pay in full.

2. August 11, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 11, 1893

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BANKS AND BANKERS IN TROUBLE. Leroy, N. Y., Aug. 10.-Frank C. Lathrop's bank has closed its doors. He has made an assignment to James Kinny. He says that all depositors will be paid in full and ascribes the failure to the tightness of the money market. Ebensburg, Penn., Aug. 10.-The banking firm of Johnston Buck & Co., of this place, conducting banks at Ebensburg, Carrolltown and Hastings, closed their doors at noon to day and placed the following notice at the entrance: "We have assets in excess of our liabilities, but owing to the constant demand on us for currency in the last twenty-four hours we consider it to the best interest of all concerned to suspend payments for the present." The bank will resume business as soon as the financial panic subsides. Chicago, Aug. 10.-The South Side State Bank passed into the hands of a receiver yesterday afternoon. The bank has been doing business since June 1. The capital stock was placed at $200,000, but it is alleged only a small percentage of this sum was paid in. The deposits will not exceed $18,000, and were made largely by the various stockholders of the bank. Kingston, Mo., Aug. 10.-The Caldwell County Bank at this place and the Exchange Bank of Polo closed their doors yesterday morning. Both banks are owned by John D. Cox. There is no run on other banks. Kansas City, Mo., Aug. 10.-The First National Bank of Fort Scott, Kan., the oldest bank in Kansas, which suspended recently, will resume next Menday in better shape than ever. Woodstock, III., Ang. 10.-G. H. Hallock, of Munda, whose bank closed its doors a week ago, was bound over to the Grand Jury yesterday on the charge of receiving deposits after insolvency.

3. August 11, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 11, 1893

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COULDNT GET CURRENCY. EBENSBURG. Pa., Aug. 10.-Johnston Buck & Co., bankers, have suspended owing to inability to secure currency. Assets largely exceed liabilities. | . I

4. August 17, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, August 17, 1893

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THE EAST. HUNDREDS of acres of tobacco at Lancaster, Pa., were ruined by hail. AN assignment was made by Robert H. Coleman, the Lebanon (Pa.) iron king. who was worth $10,000,000 two years ago, with liabilities of $5,000,000 and assets of $10,000,000. THE Madison Square bank in New York, the Bank of Wellsbury, Pa., owned by Samuel George, and the Barron county bank at Rice Lake, Wis., closed their doors. THE death of Charles G. Otis, of passenger elevator fame, occurred at his residence in Brooklyn, N. Y. IN New York the Hamilton Loan & Trust company went into the hands of a receiver with liabilities of $330,000. JOHN MIESTER, a wealthy baker of Brooklyn, N. Y., maddened by jealousy and drink, shot and killed his wife and then killed himself. AT Swinburne Island hospital in New York Vincenzo Cagliostro, aged 23 years, died of Asiatic cholera. JOHNSTON, BUCK & Co., of Ebensburg, Pa., conducting banks at Ebensburg, Carrolltown and Hastings closed their doors. THR largest steamboat in the world was launched at Chester, Pa. She will ply in the Fall River line. THE firm of Henry A. Hartly & Co., carpet dealèrs at Boston, failed for $125,000; assets, $100,000. LIZZIE POID, Edith Flay and Ella Johnson, aged 10, 11 and 17 years, respectively, were drowned in Newark bay while bathing at Bayonne, N. J. THE Boston assessors estimate the population of the "Hub" at 580,000. The last census shows a population of 446,570. SEVEN cholera cases have developed among the passengers of the Karamania, recently arrived at New York. A FINGER has been substituted for a nose upon Fred Darcy by a surgical operation at Rochester, N. Y.

5. August 17, 1893 River Falls Journal River Falls, WI
Article from River Falls Journal, August 17, 1893

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THE EAST. THE death of Charles G. Otis, of passenger elevator fame, occurred at his residence in Brooklyn, N. Y. IN New York the Hamilton Loan & Trust company went into the hands of a receiver with liabilities of $330,000. JOHN MIESTER, a wealthy baker of Brooklyn, N. Y., maddened by jealousy and drink, shot and killed his wife and then killed himself. AT Swinburne Island hospital in New York Vincenzo Cagliostro, aged 23 years, died of Asiatic-cholera. JOHNSTON, BUCK & Co., of Ebensburg, Pa., conducting banks at Ebensburg, Carrolltown and Hastings closed their doors. THR largest steamboat in the world was launched at Chester, Pa. She will ply in the Fall River line. THE firm of Henry A. Hartly & Co., carpet dealers at Boston, failed for $125,000; assets, $100,000. LIZZIE POND, Edith Flay and Ella Johnson, aged 10, 11 and 17 years, respectively, were drowned in Newark bay while bathing at Bayonne, N. J. THE Boston assessors estimate the population of the "Hub" at 580,000. The last census shows a population of 446,570. SEVEN cholera cases have developed among the passengers of the Karamania, recently arrived at New York. A FINGER has been substituted for a nose upon Fred Darcy by a surgical operation at Rochester, N. Y. IN the National league the percentages of the baseball clubs for the week ended on the 12th were as follows: boston, .696; Philadelphia, .607; Pittsburgh, .602; Cleveland, .602; New York, .506; Brooklyn, .489; Cincinnati, .472; St. Louis, .456; Baltimore, .433; Chicago. .407; Louisville, .365: Washington, .356. IN the presence of many persons of note the warship Minneapolis was launched at Philadelphia. THE supreme court of Rhode Island has sustained Gov. Brown (rep.) in his act of prorogning the May session of the legislature before it had elected state officers. This gives the state to the republicans. AT the Carnegie mills in Pittsburgh, Pa., the strike inaugurated during the Homestead trouble in 1892 has just been declared off.

6. August 19, 1893 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, August 19, 1893

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DOMESTIC. THE business portion of South Wayne, Wis., was destroyed by fire. THE sealing schooner Helen Blum, of San Francisco, was reported lost with her crew of twenty-five men. THE August report of the statistician of the department of agriculture at Washington shows that crops throughout the country have suffered severely from the drought. LEE BUTLER, cashier of C. M. Wright & Co.'s bank vat Altamont, Ill., absconded with $41,000, the entire assets of the bank. DAN LEWIS, Jim Taylor and Jack Chambers, all colored, charged with an assault on Mrs. George Warren at Hoboken, Ga., last spring, were caught and lynched within 3 miles of Way Cross. Ga. TROUBLE at Coal Creek, Tenn., has broken out afresh. A soldier named William Laugherty was murdered by miners and his death was avenged by lynching Dick Drummond. AT Chester, Pa., the largest steamboat in the world was launched. She will ply in the Fall River line. FIRE among warehouses and factories in Milwaukee caused a loss of $150,000. THE Broadmoore Land & Investment company of Colorado Springs, Col., went into the hands of a receiver with liabilities of $260,000. PRESIDENT CLEVELAND was hanged in effigy at Golden, Col., by free silver enthusiasts. CHARLES J. EDDY, aged 53, one of the oldest railroad men in the west and until six months ago second vice president of the Reading system, committed suicide in Washington park, Chicago, by shooting himself. No cause was known. DURING the first seven months of the present fiscal year the losses by fire in the United States reached $98,101,300, against $76,967,250 in 1892 and $79,247,370 in 1891. VINCENZO CAGLIOSTRO. aged 23 years, died at Swinburne Island hospital in New York of Asiatic cholera. THE fo llowing bank failures were re ported: The American national at Nashville, Tenn., the Hamilton county state bank at Webster City, Ia., the Caldwell county exchange bank at Kingston, Mo., the Exchange bank at Polo, Mo., and Johnston, Buck & Co. of Ebensburg, Pa., conducting banks at Ebensburg, Carrolltown and Hastings. THE New York. Lake Erie & Western Railroad company suspended its unmarried employes on the Honeydale (Pa.) division. ToM RICKETTS and Robert Miller, residents of Parnell, Mo., were run over and killed by a Chicago & Great Western train. ARRIVING from England in search of her husband, Mrs. Edward Douglass found him a convict at the Joliet (111.) prison. WONG DEP KEN is the first Chinaman to be deported under the Geary law. He was shipped from San Francisco. AT the leading clearing houses in the United States the exchanges during the week ended on the 11th aggregated $799,905,224. against $978,880,758 the previous week. The decrease as compared with the corresponding week of 1892 was 20.2. HAIL ruined the tobacco crop in five counties in Kentucky. THERE were 394 business failures re. ported in the United States during the seven days ended on the 11th. In the week preceding there were 436, and during the corresponding time in 1892 the number was 160. THE National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, Ill., closed their doors. FOREWARNED of a visit marshals laid in wait at Lehigh, I. T., for Jim Percy and Clem Jones, bandits, and killed them. IT was discovered that Henry Brown (colored), who was hanged for the mur der of a peddler in East St. Louis, Ill. in December, 1880, while an accessory was not the principal, the murderer being J. C. Jackson, another negro, who was acquitted of the charge. THIRTEEN of the Meachim gang were killed in a battle with citizens of Clark county, Ala. The affair is the outgrowth of a feud of some years' standing. BOSTON assessors estimate the population of the "Hub" at 580,000. The last census shows a population of 446,570. UNITED STATES MARSHAL WHITEMASTER was murdered in the Cherokee strip by Laura Maundas, a female horse thief. WILL MCCARTY dead and Bob Sparks and John Ritter mortally wounded is the result of a drunken row at Shelbyville, Ky. SEVEN cases of cholera have developed among the passengers on the Karamemania, recently arrived at New York

7. August 22, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 22, 1893

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three cays and acquamted facts relating to the suspension of the bank. As soon as the necessary prep arations can be made warrants will be issued for the arrest of the men who appear to be guilty of having violated the national banking laws. NASHVILLE, Tenn Aug. 9 The First Nation Bank of this city suspended after banking hours this afternoon. A statement has not yet been given out WASECA, Minn., Aug. 9.-The Peo ple's Bank of this city failed to open yesterday. The directors held a meet ing Monday evening and voted to suspend. Saturday and Monday there was a heavy run on the bank, with drawing SO much of the funds that demands could not be met. Assetsare $135,000, liabilities $67,000. NEW ORLEANS, La, Aug. 9.-A - run was started yesterday on the Germania Savings Bank, and all who came were promptly paid. When the doors of the Germania were opened this morn ing there was a motley group of people waiting on the outside with their deposit books. The savings bank man agers last night night decided to enforce the sixty day clause. Thisaction has apparently had the effect of allay ing the fears of depositors and the run has ceased. MINNEAPOLIS, Aug 9 The Commer cial Bank of this city closed its doors this morning. The Hamilton Loan and Trust Co. New York, has gone into the hands of a receiver. Fuller Bros & Co. one of the largest hardware firms in New York, and a very old firm, assigned on the 9th. The Automatic Piano Company, New York is in the hands of a receiver. The liabilities are $40,000; assets $10,000 WASHINGTON, Aug 11 -Comptroller Eckles was informed this morning of the suspension of the Waxahachi Na tional Bank, of Waxahachie, Texa Capital, $100,000 NEW YORK, Aug. 11.-The failure of Washington Burrows was announced at the Consolidated Exchange this morning EBENSBURG Pa Aug. - The bank ing firm of Johnston, Buck & Co, of this place, conducting banks at Ebens burg, Carrolltown and Hastings, closed their do rs at noon to day and placed the following notice at the entrance: We have assets in excess of our liabili ties, but owing to the constant demand on us for currency in the last twenty four hours we consider it to the best interest of all concerned to suspend payment for the present Twenty big failures was the record made in New York City on the 10th. NASHVILLE, Tenn, Aug 10.-The suspension of the First National Bank last evening was followed to day by the suspension of payment by the American National Bank, one of the largest and strongest in the city. The bank has a capital stock of $1,000,000 and a surplus fund of $116,000 LEROY, N. Y., Aug -Frank C. Lathrop's bank has closed its doors. He has made an assignment to James Kinny. He claims all depositors will be paid in full and ascribes the failure to the tightness of the monev market. CHICAGO, III Aug. 10.-The South Side State Bank, State and Thirty first streets, passed into the hands of a re ceiver yesterday afternoon. The bank has been doing businesssince. June and the volume of business transacted has been small. The capital stock wasplaced at $200,000, but it is alleged only a small percentage of this sum was paid in The deposits will not exceed $18, 000 and were made largely by the various stockholders of the bank. From present indications it appears that John B. Koetting, cashier of the now defunct South Side Savings Bank, practically looted the bank before leav ing the city. It is estimated that he took at least $109,000 in money and securities, and now Receiver Barth has at ached Koetting's individual property in the hope that some of the stolen money may be recovered. KINGSTON, Aug. 10.-The Caldwell County Bank at this place and the Ex change Bank of Polo closed their doors yesterday morning. Both banks are owned by John D. Cox. There is no run on other banks. ST. PAUL, Minn., Aug. 10.-Assignee Westfall filed a statement of the assets and liabilities of the bank this afternoon. Even the most cursory reading of the documents shows that the Seven Corners Bank was not swamped by hard times, but was wrecked by its cashier, C. A. Hawks. BEATRICE, Neb., Aug. 10.-Jacob Bond, president of the defunct Bank of Cortland, was arrested last night. F. C. Severine, a member of the State legislature, swore out the complaint against him, and the principal charge is that of receiving deposits after the bank was known to be insolvent. LOWELL, Mass., Aug. .-Faulkner's Mills have posted a notice of shut down for two weeks from Friday night in all but the dyeing and finishing departments. The mill runs 9,200 spindles and 142 looms and employs 500 hands. WINSTON, N, C., Aug. 12.-King Brothers' Pure Food Company, doing business on Third street, assigned to day, naming Colonel Thomas H. Stratton trustee. Liabilities, about $5,000; assets, $3,500.