Citizens National Bank (Spokane, WA)

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Spokane Banks Close

SPOKANE. Wash.. June 6.--The Washington National bank and its adjunct. the Washington Savings bank. closed their doors this morning. They were crippled by a quiet run yesterday. Both show strong assets in excess of liabilities, but could not get money in time for the sudden whirl. Other banks were subjected to a severe run. At 2 o'elock this afternoon. the Citizens' National bank closed its doors. It is reported here. on apparently reliable authority. that the Palouse City bank of Palouse. has also suspended.

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Latest Bank Failures

SPOKANE. Wash., June 8.-As a result of the suspension of the Bank of Spokane three other banks in this city have closed their doors. They are the Washington National, the Washington Savings and the Citizens' National. Other banks which have just suspended payment are: First National bank, of Palouse, Wash.: the Bedford bank, Bedford, Ind.; New Albany Banking company, New Albany, Ind.; the State bank, Cortland, Neb.

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: Confidence Returning at Spokana , June 7.--[Special.]-Bank Exanimer K. T. Wilson is in charge of the Washington National and Citizen's National banks, which closed their doors yesterday. A better feeling prevails and there is no run on the other national banks. Merchants offer to take certificates of deposit and checks on any of the suspended banks at par.

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EMBARRASSED BANKS

A Material Falling Off Im the Number of Failures. ASHLAND, Wis., June 7.-The bank of Waehburn. closed ita doore this morning. The officersclaim the suspension is only temporary, on account of the financial stringency, and will reopen in a few days. It.is a private institution with a stated capital of $25,000; surplus, $12,000; d'eposite, about $40,000. A. C. Probert is president, and states the depositors will be paid in full. CHICAGO, June 7.-The private bank of C. L. Niehoff & Co. was placed in the hands of the sheriff this evening on attachment's eued out by a number of depositore, who became alarmed for the safety of their money- No statment is obtainable tonight. W ASHINGTON, June7. / -The comptroller has directed Bank Examiner E. T.. Wilson to take charge of the Citizene" National bank and the Washington National bank of Spokane, state of Washington, which closed their doors yesterday. NEW ALBANY, Ind., June 7.-The New Albany Banking company has suapended payment, as the result of the run on the New Bedford, Ind., bank yesterday, both having substantially the same stockholders. It is claimed the assets are $212,000; liabilities, $100,000. W. L. Greyfogle, one of the principal stockholders in the bank, executed a deed. of trust of $366,000 for the benefit of the depositore of the two banks. It is claimed the depositors will be paid in full.

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Bank Failures at Spokane

SPOKANE, Wash., June 6.-As a result of the suspension of the Bank of Spokane Falls, yesterday, three other banks in this city closed their doors today. They are the Washington National, Washington Savings and Citizens' National. A. McCannon, president of the bank of Spokane Falls, is vice-president of both the Washington National and Washington Savings bank and the failure is due to the failure of the Bank of Spokane Falls. It is believed all banks are solvent and will resume in a few days. Palouse City bank of Palouse City also closed its doors today.

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BUSINESS TROUBLES

The Citizens' Savings bank, of Portsmouth O., has failed. The Ellsworth Packing and Provision Com. pany. of Chicago, assigned on June 21. H. c. Tucker & Co., private bankers of But. falo, N. Y.. closed their doors June 20, Sloan, Johnson & Co., wholemale grocers of Omaha, have assigned. Liabilities, $300,000; as. sets, $250,000 The Lane County bank, of Eugene City, Or., suspended on June 20, but business mea still retain confidence in is The excitement over the Albany. Or., bank suspension is quieting down and 11 is thought the bank will pay in full. Newberry and Wood, of the Citizens' National bank, of Spokane, waited on Comptroller Eckele on June 30, but failed to come to any agreement about reopening the bank. The Colony Woolen Manufacturing Company. of Nashua. N. H., failed on June 29 with liabil ities of $168,000 and assets of half that amount The City Savings bank, of Chattanooga, Tenn, as a result of a run, was forced to suspend on June 20, with assets of $475,000 and liabilities of $225,000.

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BANK RECEIVER APPOINTED

Washington, July 1.- Comptroller Eckles has appointed J. H. Adams receiver for the failed Citizens' National bank, of Spokane, Wash.

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WESTERN BANK FAILURES

Nebraska, Colorado and Other States Farnish Their Quota. BEATRICE, Neb., July .-The Nebraska National bank and the American bank failed this morning. Each had a capital of $100,000. The American bank's deposits will not exceed $60,000, and the assets are entirely sufficient to pay all demands. The Nebraska National bank has deposits of over $100,000, but the assets are in good ehape if no run is made on the other banks. SALIDA, Colo., July 1.-The Chaffe County bank made an assignment this morning with liabilities between $80,000 and $90,000, while the assets are not yet known. Slow collections is given as the cause of the failure. A run was averted on the First National bank, which closed at 11:30 until Monday. The directors say the depositors will be paid in full. OURAY, Colo., July 1.-The First National bank closed this morning, owing to the want of currency. Assets $110,000 and liabilities $42,000. It will prob ably resume in a few days. A run was inaugurated on Thatcher Brothers' Merchants' and Miners' bank, but it was only a slight flurry. WEBB CITY, Mo., Julr 1.-The Exchange bank of this city assigned today. Deposits, $60,000; liabilities not yet known. The stringency in the money market and withdrawal of deposits are assigned as the cause of the failure. WASHINGTON, July 1. - Comptroller Eckels was informed this afternoon of the failure of the First National bank of Phillipeburg, Mont. Comptroller Eckels has appointed J. H. Adams receiver of the failed Citizen's National bank of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the First National bank of Provo, Utah.

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Failures

BEATBICE, Neb. 3.-The Nebraska National bank and American bank have failed. Each bank had a capital of $100,000. Washington.-Comptroller Eokles appointed J. H. Adams receiver of the failed Citizens' National bank, of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the failed First National bank of Provo, Utah, and Bank Examiner Latimer to take charge of the failed Nebraska National bank of Beatrice. The First National bank of Rico, Colo., which has also failed, will be placed in the hands of a bank examiner.

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MAKES ECKELS SICK

The Way Democratic Warhorses Beg Receiverships. HINTS FOR MR. M'NAMARA. He Can't Run Fort Townsend Postoffice as He Pleases-Little Money for surveys. WASHINGTON City, Dec. 17.-[Special.]Comptroller Eckels says the affairs of national banks in Oregon and Washington have given him more trouble than all the other states in the Union. Whenever a bank has been obliged to close its doors immediately a flood of applications has poured in upon him by mail and by telegraph for the appointment as receiver. reminding one of the turkey boxzards that gather around the carcass of a dead cow. This is the case at the present time with the Oregon National bank at Portland, which the taxpayers have closed up because it was unable to return at once all the funds of the county which had been deposited there. The comptroller had soarcely received information of the closing of the bank when the telegrams asking an appointment as recaiver began to pour in. The letters and the usual indorsements are now coming. Mr. Eckels has no end of words of praise for the people of Seattle for the manner in which they have stood together and helped each other during the financial crisis. Strong efforts have been made to bring about the reopening of the Port Angeles National bank, and the matter has been under advisement by the comptroller far the past month. He has finally decided that it would not be for the best interests of the depositors to permit the bank to re-open. The Bellingham Bay National bank of Whatcom, which has been in the hands of an examiner. and the Citizens' National band of Spokane, which has been in the hands of receiver, will be permitted to reopen for a business within a short time. A special examination of the affairs of the latter bank has just been ordered.

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It is Solvent

The Citizens' National Bank of Spokane Falls, Washington, heretofore in the hands of a receiver, has been placed in a solvent condition, with unimpaired capital, and has today been permitted to reopen its doors for business.

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NORTHWEST NEWS

It is thought Snake river will be open for navigation all winter. Dungeness county is overrun with coal prospectors. Every one is full of coal ideas and talk. The Citizen's National bank, of Spokane, opened for businesslast Thursday. It suspended last June. The warm, open weather 18 making the Okanogan stockmen happy. Their cattle and sheep are in fine condition. Louis Stemsto, a young Indian, has been found guilty by a Spokane jury of murdering Mah-So-Lah, a Flathead squaw. Bayard Hardy, probably the man of that name who is wanted in Everett for swindling storekeepers, has begun publication of the Graphic, a weekly illustrated paper, at Spokane. Specimens of flax fiber raised in Whatcom county have been sent to the department of agriculture in Washington City, the report coming back that the fiber is of exceptionally fine quality. M. L. Johnson, proprietor of a livery stable, was fatally shot by Eugene Born in a saloon at Wallula Friday night, The men had been playing cards and Born had lost heavily. He quit the game in anger, went out and borrowed a pistol, and on his return began firing. George Ruedy, of Colfax, says sugar beet culture can be made a success in Washington. Recently he took 100 pounds of sugar beets raised by him and running them through a cider mill, as a result got five and a half gallons of juice. This he boiled down to a thick syrup of the consistency of molasses and tasting very similar to sorghum, with a faint after taste of licorice. Of this he got three and a half quarts. This would indicate about 14 per cent. sugar in the beet juice, which is fully up to the average.

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The Spokane Bank Consolidation

SPOKANE, Jan. 31.-[Special.]-There is every indication that the suggestion of Comptroller Eckels that the Washington and Citizens' National banks of this city be consolidated will be carried out. At a meeting of the officials of the two banks last night, a letter was prepared and sent to the comptroller, asking for instructions how to proceed. There is little doubt that the consolidation will take place. Itis proposed to call the new institution the Union National bank, and the capital is to be placed at $500,000. Both banks suspended in June, but have since reopened. The Citizens' National now has a capital of $150,000 and the Washington National a capital of $250,000.

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Will Not Open Again

SPOKANE, Wash., Nov. 22.--The Citizens' National bank will not open for business. This decision was announced at is directors' meeting. The bank will go into liquidation. Its assets are $425,000; habilities $240,000. This institution closed its doors during the panic of 1893

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A Spokane Bank Suspends

SPOKANE, Nov. 21.-The Citizens' National bank will not open for business tomorrow. This decision was reached at a directors' meeting this afternoon. The bank will go into liquidation. The assets are $425,000; liabilities, $240,000. This institution closed its doors during the panic of 1893, but afterward reopened under authority of the comptrolIer of the currency. At that time it obtained extensions from its depositors for $172,000. All these have been paid but $12,000. The city alone has taken $70,000 out of the bank. The capital stock is $150,000. E. B. Hyde is president, G. F. Wetzel vice-president, A. A. Newbery cashier.

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Bank Failure at Spokane

SPOKANE, Wash., Nov. 21.-The Citizens National bank will not open for business. This decision was reached at a directors' meeting this afternoon. The bank will go into liquidation. The assets are $425,000; liabilities, $240,000; This institution closed its doors during the panic of 1893, but afterward r6opened under authority of the comptroller of the currency. At that time it obtained extensione from ite depositors for $172,000. All these have been paid but $12,000. The city alone has taken $70,000 out of the bank.

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More Banks Go Up

WATERTOWN, S. D., Nov. 22.-The Merchants Bank, of this place, has closed its doors, and Judge Andrews has signed an order that a receiver be appointed to close up the business of the concern. County Treasurer Wlightman had $10,000 of the county's money deposited in the bank, a large share of which will have to be made good by the bondsmen. SPOKANE, WASH.. Nov. 22-At a meeting of the directors of the Citizens National Bank it was decided not to reopen the bank for business. The bank will go into liquidation. Its assets are $425,000, liabilities, $240,000.

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The Spokane Bank

SPOKANE, Wash., Nov. 21-The Citin zen's National bank will not re-open for business tomorrow. This decision was reached at a directors' meeting this afternoon. The bank will go into liquidation, a receiver will be appointed to pay off depositors, after which the remaining assets will be turned over to the stockholders. The assets are $425,000, and the habilities only $240,000. The bank's naper is understood to be first class. This institution closed its doors during the panic of 1893, and afterwards ren opened under the authority of the controller of the currency. At that time, it obtained extensions from its depositors for $172,000. All of this has been paid, except $12,000. The city alone has taken $70,000 out of the bank.

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BROKEN BANKS Indiana and Wisconsin Depositors Are the Sufferers ENGLISH, Ind., Nov. 13.-The English Bank has failed to open its doors today. Coupled with this came the report that President Willett, of the Leavenworth branch. had not been seen for three days and that his mind was temporarily unbalanced over the death of his mother. As soon as the failure became known, the bank's branches at Leavenworth, Cannelton and Marengo, also closed. Nearly every farmer and business man in Crawford and Perry counties is said to be concerned in the failure for amounts ranging from $200 to $3000 County Treasurer Brown had placed more than $10,000 with the suspended bank. No schedule of assets and liabilities can be given, but both are large. ANTIGO, Wis., Nov. 13.-The Bank of Antigo closed its doors today by order of the Board of Directors on account of irregularities in the books as found by the bank examiner. An application was made for a receiver. Deposits will be paid in full. The extent of the irregularities is not known. LEAVENWORTH, Nov. 13.-Three banks, respectively located in this city and at Marengo and English, with deposits estimated to aggregate $160,000, have closed their doors. R. H. Willett, cashier of the parent bank in this city, and principal stockholder in the other two concerns, has left for parts unknown. His wife has received a letter from him stating that he has almost lost his mind and that he will not return to the scene of financial disaster. County officials and educational trustees are sufferers from the crash, and one death may be the direct result. Treasurer E. P. Brown of Crawford county, had upwards of $30,000 county funds deposited in the bank in this city. When told today of the failure he fainted and tonight he is in a critical condition. The revenue collected for school purposes was all on deposit in the banks and it is feared that all of the public schools in Crawford and Perry counties will have to be closed, as the trustees have lost all their money. SPOKANE-Postmaster Mallon today caused the arrest of Mayor Olmstead, A. A. Newberry, E. B. Hyde and D. F. Wetzel, all prominent citizens. They were officers and directors of the defunct Citizens' National bank, which failed with a deposit of $8,110 of postoffice money. As the bank was not a United States depository the loss fell upon Postmaster Mallon's bondsmen. He charges the defendants with taking his deposits "knowing that the bank was then and there insolvent and in failing circumstances."

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Pioneer Talks

As Told to Robert Owen By HARRY GOETZ

The courage and faith of the citizens of Spokane Falls met its first severe test the of Au gust 1889 that practically wiped out the town much improved and prosperous city of brick appear ed from the ruins, and under the impetits of mining lopment in Alenes, increasing set and cultivation of the farm ing lands the Inland Empire and the appearance of the lumber busi as an important the city enjoyed rapid grow and splendid prosperity for several years But the courage of the citizens and the soon to tested in the wide panic 1893. There was little in dication of impending to warn people of the financial situa tion that was near Trade and industry prospered in 1892, this prosperity being reflecte in large increase in railway freight tonnage Spokane looked forward to big year in Great North ern was completed and the public still hoped for lower rates Mining had been resumed in the Cocur Alenes an scale, and the territory to the north the neighborhood Old Dominion mine Colville booming Heavy falls promised good crops and was now being used effectively various points in Inland Empire More than million dollars had building in Spokane in 1982 including the new city hall Roller Mills the Marble Bank building erected by Cannon But Cannon had unfortunately allowed himself to be come interested in too many distant and doubtful enterprises Under the leadership of Paul Mohr. W. Durham tells us, "He had been lured into beavy ments coal mines in the Cascade portage railroad scheme around the rapids in the Columbia river above The Dalles. Mohr went east in desperate ef. fort to unload these elephants on New York and Mr. Can non, realizing the critical condition eagerly scanned his agent's ports.' Mohr failed to get aid in the and Cannon forced to ask for help from the Spokane banks After examination his affairs on the June: 1893. the Bank Spokane Falls failed to open its doors for business This news created sensation, and no blame attached to Mr. Cannon by the general public, the popular being one deep sym pathy for the kind hearted pioneer had done so much make Spokane the little city which it had become Twenty hours after the Bank of Spokane Falls closed. the Washington National and the Washing ton Savings bank suspended pay ment and hard run on the Citizen's National forced it to close its doors one hour before closing time: On July the Washington National business in quar ters previously occupied by the broken Spokane National at been side and property that had These banks disasters the remaining heavy and July the First National after on steady run of 50 days, became in solvent