National Bank of Commerce (Denver, CO)

Episode Information

Episode UID
435801123
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
43580 national
Charter Number
4358
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0881ebe648c6b141

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined

Events (5)

1. July 8, 1890 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Macro News
Cause Details
Foreign market rumors and widespread financial panic (including silver agitation) sparked heavy withdrawals and runs on Denver banks.
Measures
Posted notice of closure; heavy withdrawals; clearing house unable to assist; bank examiner/Controller involvement mentioned.
Newspaper Excerpt
The National Bank of Commerce ... closed its doors this morning, owing to the heavy demands of excited depositors.
Source
newspapers
3. July 18, 1893 Suspension
Cause
Macro News
Cause Details
Closed due to inability to meet heavy withdrawal demands amid the broader panic triggered by foreign rumors and local banking failures.
Newspaper Excerpt
The National Bank of Commerce ... closed its doors at Denver, Col., owing to the heavy demands of excited depositors.
Source
newspapers
4. August 17, 1893 Reopening
Newspaper Excerpt
The National Bank of Commerce re-opened for business today with almost 100 per cent. of its liabilities on hand.
Source
newspapers
5. November 14, 1908 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)

Article from Alexandria Gazette, July 18, 1893

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Failures. As a result of the recent Thornto: bank failure, Nancy M., W. N. and John D. Stewardson, extensive farmers and stock raisers of Shellbyville, Ills., have ,assigned to W. E. Walker. Liabilities about $30,000; asserts $25,000. The Bank of Anacortes, Washn., failed to-day. The First National Bank of Fort Scott, Kas., the oldest financial institution in southeastern Kansas, has suspended. The Citizens Bank of Ada, the most prominent one in Hardin county, Ohio, failed to open its doors this morning. The Union National Bank of Denver, Col., failed to open its doors this morning. The capital is $1,000,000, No statement can be had. The Commercial National Bank and the National Bank of Commerce have also assigned. A run is now being made on the City National, German National, First Na. tional, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.


Article from Evening Star, July 18, 1893

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AFFECTED BY FOREIGN RUMORS. A Day of Depression in Prices on Wall. Street. Special Dispatch to The Evening Star. NEW YORK, July 18.-London was the disturbing element in today's market and early cables from that side were filled with rumors of impending financial disaster. One of the largest houses in that market. having correspondents in all the principal cities of Europe and represented on New York Stock Exchange, was said to be on the verge of suspension. All attempts to corroborate these statements failed, but the entire London market until late in the day was feverish and irregular, and indications pointed to extensive liquidation. 4 p. m. cables, London time, reported a a stronger tone and the closing was a trifle more encouraging. The bear party at once took advantage of adverse conditions abroad and, aided by selling orders from that side, found little resistance to their efforts to depress prices. The opening was from 1/8 to 1 per cent lower than closing quotations and with the exception of a few unimportant rallies the decline was continued throughout the early hours. Call money was abundant at 6 per cent. but time money 18 a commodity that only a privileged few. who know its whereabouts and present themselves early. can enjoy. In the face of a stiffer rate for exchange @135.000 additional gold has been ordered for shipment to this side and reported to the consignees this morning. Affairs in the west have taken on a more serious aspect and failures are of daily occurrence. .The Union National Bank of Denver, with a capital of $1,000,000, closed its doors this morning. as did also the National Bank of Commerce, with a capital of $500,000. Both institutions correspond with the Chase National of New York. The Commercial National of the same city, with a capital of a quarter of a million, went into liquidation later in the day. Among the active stocks that offered large rewards to pessimistic operators. who sold them at early prices, may be mentioned St. Paul, which dropped to 551/2. R net decline of 2 points. New York Central lost 21/1 per et. to 96% Northwest sold down 21/4 per cent to 961/s, Manhattan was 4 per cent cheaper at 115 than it was at the opening and Lake Shore gave up 2% per cent of its selling price as a result of considerable activity, which marked it down to 1131. Sugar was on the bargain counter at a reduction of 4 per cent, opening at 7914 and selling down on large and frequent sales to 751/4. General Electric was also 4 per cent lower at 57. and Chicago gas lost 2% to 38% The break in the industrials was a conspicuous feature in the day's trading.


Article from The Indianapolis Journal, July 19, 1893

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Streets Thronged with a Mob of Nervous Depositors, Who Mades Rush for Their Money the Moment Banks Opened Their Doors. Nine Banks in Two Days Forced to Saspend in the Silver-Ridden State. Almost Without an Exception the Officers and Directors Assert that Depositors Will Be Paid in Full-Other Suspensions THE DENVER CRISIS. Three National, One Private and Two Savings Banks Forced to the Wall. Special to the Indianapolis Journal DENVER, July 18.-This city was struck by the financial storm to-day in a way which indicated that yesterday's excite. ment was merely a side show. Those who didn't have money in the tottering and falling banks stopped business and watched the fighting crowds in the street vainly clamoring for their deposits at the doors of the institutions that were forced to close. In addition to yesterday's record. six more banks went to-day. making nine for the 0 days. Those to-day include three nationalbanks-The Union National. the Commercial National and the National Bank of Commeree-whieh closed their doors this morning, owing to the heavy demands of excited depositors, and the Mercantile Bank, a small private institution, doing business in the Mining Exchange Building, which suspended owing to the close of the Union Bank. through which its clearances were made, and two additional savings banks-the North Denver and the Capital Savings. The suspension of three sav. inge banks yesterday so warmed the community that at 10 o'elock this morning, the hour for opening the banks, crowds had gathered in front of nearly all the financial institutions, ready for a turious run. At the German and City National banks the run was heavy. although the First National, the People's and one or two others felt the unusual pressure to some extent. The streets were full of people, discussing the situation. It was a wild crowd, and the police at times had to be called to maintain order. The run on the People's Bank soon exhausted itself, and by 11 o'clock af. fairs had resumed their normal condition. At the City National the run was over by 1 o'clock, and at the other banks, except the German, the excitement was all over by noon. At the German National the crowd kept in line in front of the teller's window all the afternoon. THE FIRST NOTICE. A few minutes before 10 o'clock, posted on the front and side doors of the Union National Bank. was the following notice, signed by R. W. Woodbury. president: "The Union National Bank is in the hands of the Controller of the Currency. We have paid to our depositors in round numbern $1,000,000 in the past month. and have $1,660,000 in assets to meet our remaining liabilities, which amount to about $500,000. We have realized on our assets as rapidly as we could, and enough loan payments have been promised the last of the week to enable us to take care of depositors again. If then paid. the Controller assenting, we shall then reopen. In the meantime every depostor may be fully assured that he can by DO means lose a dollar of his deposit." No sooner was the notice posted than crowds began to gather at each door. and for hours they remained there. The Commercial National Bank did not open its doors at all. preferring to avoid the inevitable run. It was in bad shape, having $250,000 capital stock and only $2,500 in its vaults. This notice was posted:


Article from Evening Journal, July 19, 1893

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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.


Article from Echo De L'ouest, July 20, 1893

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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.


Article from The Morning News, July 20, 1893

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DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented.


Article from The Sauk Centre Herald, July 20, 1893

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PANIC AT DENVER Three More National Banks There Forced to Make Assign ments. Depositors at the Remaining Banks Wildly Clamoring For Their Money. Suspension of a Big Dry Goods House Adds to the Intense Excitement. DENVER, July 19.-Never in the history of commercial and mercantile life in the Rocky mountains has such a state of financial affairs existed as now prevails in Denver and throughout Colorado. It was hoped that the banks that had weathered Monday's financial storm would be in such a position as to cope with all the demands made upon them by depositors. This hope was dissipated by the announcement in quick succession of the failure of the National Bank of Commerce, the Union National bank and the Commercial National bank. In the attending excitement it is almost impossible to ascertain the assets and liabilities of each bank, and this information may not be given out until later in the day. Depositors Panic-Stricken. The depositors in the different banks have become almost completely panicstricken and long lines of people are pushing and crowding each other in order to get to the paying teller's windows of the dozen remaining banks that they may secure their money on deposit. To add to the excitement the failure of the McNamara Dry company, with liabilities of $260,000 was announced. The amount of assets is not stated but it is believed they will more than equal the liabilities. The failure was precipitated by the filing of an attachment for $71,780 in favor of the Union National bank. This attachment was served at 1 o'clock a. m. and shortly before business hours another attachment for $20,846.74 in favor of the Colorado National bank was served upon the company and the doors were closed. The dry goods company had a large amount of money outstanding on credit and on account of the stringency of the money market was unable to collect from country customers and thereby make their credit good at different banks. Claim to Be Sound. The First National bank appears to be on the best footing of all the banks. It claims to have on hand over 60 per cent of its deposits and to have a private fund of $1,500,000 in addition to draw upon, making it impossible for any demand to go unattended. The Colorado National bank and several others claim to be equally well fortified against any run. Over 90 per cent of the people who are clamoring for their money are small depositors. The large holders express confidence in the ability of the banks to successfully ride the storm. As every bank is crowded the clearing house is rendering no assistance and each bank is compelled to stand on its own resources. Believe the Worst Over. In an interview at noon President John A. Thatcher, of the clearing house association, said: "I am confident that the worst of this is over and people will soon come to their senses. At the meeting of the clearing house we decided that we could not help the banks and so some of them have gone to the wall. All of them, I believe, have ample security to protect all depositors, but unfortunately at this time cash and not security is what the majority of the people are clamoring for." Up to 12 o'clock everything was comparativaly quite at the Colorado National bank. It is stated that the bank received nearly half a million dollars in gold just before the opening hour. At the National Bank of Commerce every entrance has the following placard: "This bank is closed by order of the board of directors." The doors are locked and no one is allowed to enter. At 1:30 no additional failures had been announced, but the feeling was still of a panicky nature.


Article from The Daily Morning Astorian, July 20, 1893

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CURRENT CURRENCY COMMENT A Regular Monkey and Parrot Time in Denver. SENATOR TELLER'S LATEST TALK A Nephew of Leland Stanford Turns up in Idaho-Married to Suit Himself. Associated Press. Denver, July 19.-The panic in this city was resumed this morning with renewed vigor, and as a result the Old German National bank, with a reputation for stability of twenty years' standing, the equally reputable State National, and extremely strong Peoples' National, failed this morning. All night depositors stood in line in front of the German National, and by 9 o'clock there was a long sea of faces stretching down the street. At the opposite corner, where the State National has so long done business, was also a crowd of anxious depositors, Here people were relieved of doubts, when at 9 o'clock a notice was posted on the doors that the bank would not open, owing to the lack of ready cash At the German National, just before opening time, a notice was posted on the (window stating that the doors would be closed temporarily. This notice caused a distressing scene. Men and women down the long line, broke out in tears and wailing. A run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National andGerman National banks. A number of minor commercial concerns went under today, The run on the Denver National is over, with plenty of money still in sight. The same is true of the City and all the other unfailed banks. Business men are beginning to breath more freely. Washington, July 19.-The comptroller of Currency has been advised that the Hutchinson National Bank of Hutchinson, Kan., has failed. Topeka, Kan, July 19.-The state bank commissioner has been informed of the failure of the State Bank of Parker, and Woodson's State Bank, of Yates Center. Both were small concerns. Washington, July 19.-The comptroller of currency is informed of the failure of the Bozeman National Bank, of Bozeman, Mont. Brooklyn, July 19.-The large carpet house of Hardenburg & Co. has assigned.


Article from Oakes Weekly Republican, July 21, 1893

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BUSTED BANKS Seven Bad Fallares III Two Days at Denver. DENVER. July 18. --Commercial - circles are greatly excited over the failure of three banks in this city during the day. The banks constituting the triple failure are the Colorado Savings bank; the People's Savings bank and the Rocky Mountain Dime and Dollar Savings bank. An estimate of the total assets are $1,500,000 and liabilities are placed at nearly that amount. Charles H. Blakeney was made assignee of the Rocky Mountain Dime and Dollar Savings bank. DENVER, July 19.--Three national banks, the Union National. the Coinmercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. Mercantile vallures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah. installment furniture dealer: Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealors, and McHiver & Drip, mantels and tiles.


Article from The Lamar Register, July 22, 1893

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A PANIC IN DENVER. Three National, Three Savings and Three Private Banks Close on the 17th and 18th. The financial squall struck Denver a hard blow Monday and Tuesday. The first sign of a wreck was seen when the People's, Colorado and Rocky Mountain savings banks failed to open Monday morning. This caused an increase in the distrust of other banks which has been growing for some time, and during the day small runs commenced on the Union bank. The statements published in the evening payer by several national banks were not calculated to restore confidence in them, and it was evident that there would be more trouble for them the next day. The directors of the Union national and Commercial nati onal were evidently of that opinion as they did not open their doors at all, and the National Bank of Commerce after sustaining a run for twenty minutes closed On the doors of the Union bank the following notice appeared: The Union national bank is in the bands of the comptroller of the currency. We have paid to our depositors, in round numbers, a million dollars in the past few months, and have $1,600,000 in assets to meet our remainlug liabilities, and which amount to about $500,000. We have realized on assets as rapidly as possible, and enough loan payments have been promised the last of the week to enable us to take care of depositors again. If then paid, and the comptroller assents, we shall then reopen. In the meantime every depositor may be fully assured that be can by no possibility lose a dollar of his deposits. R. W. WOODBURY, President. The Union bank is one of the oldest in the city and has done a large business. but apparently the depositors have recently lost confidence in its soundness. Large amounts of money have been withdrawn from this and other banks and placed in safe deposit vaults in which all the boxes are said to be full at the present time. The National Bank of Commerce has lla. bilities of $700,000 and assets of $1,500,000. Ex-Governor Cooper is president. The Commercial National reports liabilities at $435,000 and assets at $730,000. Three small banks, the Capital, the Mercantile and the North Denver, closed their doors as a result of the large banks closing. They have small liabilities To a greater or lesser extent there was a run on every bank in town. In several instances it was hardly visible and was over almost before it began, it other It lasted until the hour at which the banks closed. There was a big run on the German National, First National, City National and State National, but the run had about ceased on them at night, and it looked as though they would pull through. The bank officers claimed that the run was participated in by check holders and small depositors and that they could weather the storm all right. The failure of the banks carried down a number of business houses. The largest of these was the McNamara Dry Goods Company, which was attached by the Union bank for $70,000. Other claims against the from aggregate $255,000. The John Moust Lumber Company also assigned.


Article from St. Paul Daily Globe, July 22, 1893

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# BRADSTREET'S. # A Birds-Eye View of the General Situation. NEW YORK, July 21.-Bradstreet's weekly review of the state of trade will tomorrow say: A birds-eye view of general trade conditions throughout the country indicates the South Atlantic and gulf states have suffered no material change in condition, dullness or exceptionally quiet trade being reported from almost all points with slight exceptions. There is a disposition West also to curtail the output of manufactured products, and runs on Kansas City and Denver banks, now ended, created for a time a renewal of exceptional caution on the part of banks at many Western centers. A large proportion of the suspended Colorado banks and mercantile institutions will pay in full and resume business, inability to borrow or sell collaterals alone being the cause of Denver banks closing their doors. Bank clearings this week naturally show a decrease, the falling off being not less than 7.5 per cent as compared with a year ago, and a smaller decrease as compared with the preceding week: Our Australian and London cables showed no material change in stocks of wheat available abroad last week, so that the net decrease was practically that in the United States, about 3,200,000 bushels. Exports of wheat, both coasts United States and Canada, seven days ending July 20, aggregate 5,077,000 bushels, as compared with 2,716,000 bushels in the third week of July a year ago, with 2,330,000 bushels two years ago, with 1,544,000 three years ago, and 1,385,000 bushels four years ago. The financial position at New York has been to some extent unfavorably affected by the demands for money at St. Louis and Denver. Near-by manufacturing centers are also calling for currency to meet pay rolls, and it is believed that the result will be a loss in cash holdings to an undetermined amount. Few changes have been made in the outstanding New York clearing house loan certificates, which are now nearly $23,000,000. The money market is unaffected by the break in stock values, call loans being at 6 per cent or less, while time loans and commercial discounts are exceedingly restricted at high rates. Foreign exchange is somewhat firmer on diminished foreign stock purchases. About $1,000,000 gold came in from Europe and the West Indies, and some $200,000 is in transit from London. Silver is weaker on the threatened adverse action by some nations of the Latin union. The number of failures for a week is the largest ever reported for a like period.


Article from The Middleburgh Post, July 27, 1893

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# CASH WANTED AT DENVER. Security Plentiful, But Unsatisfactory Only a Temporary Panic. Three national banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors at Denver. Col., owing to the heavy demands of excited depositors. The 'clamor was mostly confined to small depos- itors, the larger ones expressing confidence in the banks' ability to pay in full. The Mercantile bank, a small private institution doing business in the Mining Exchange building, also suspended, owing to the close of the Union bank, through which its clearances were made. The liabilities are stated at $100,000. The suspension of three savings banks on Monday so alarmet the community that at 10 o'clock Tuesday morning, the hour for opening the banks, crowds had gathered in front of nearly all of the financial institu- tions. The streets were full of people dis- cussing the situation. It was an orderly crowd, however, and there was much sens- ible and conservative talk.


Article from Shenandoah Herald, July 28, 1893

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South and West. AT Denver. Col.. the People's Savings, the e Rocky Mountain Dime and Dollar and the I Colorado Savings Banks have closed their e doors. At Kansas City, Mo., the Missouri National Bank has suspended payment: also 1 the Grand Avenue Bank, a private institu: tion. The assets are $200,000; liabilities, $140,000. l FOUR people were killed and several injured in a collision between a Grand Trunk train and a horse car in Chicago, III. THE foreign exhibitors at the World's e Fair are getting ready to file claims against the National Government for damages, claims to the amount of $400,000 having already been prepared. THE First National Bank at Cedartown. Ga., closed its doors. The suspension was caused by inability to realize at once on collaterals. SECRETARY MOHLER has issued a statement saying that if the conditions continue favorable Kansas will have the largest corn crop in the State's history, with the exception of that of 1889. Miss EMMA GARRETT. of Philadelphia, who with her sister, Miss Mary 8. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suieide by leaping from a window at the Briggs House, THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution. also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. THE drouth, which exten led over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen. of which six are National, five savings and two private institutions. Two men were mortally wounded and on? instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith. United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as 8 midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE Commissioners of Agriculture of the Southern States, in session at Atlanta, passed a resolution calling for the adoption of a uniform system of control and regulation of the manufacture and sale of commercial fertilizer. SWEDEN'S day at the World's Fair was celebrated by a big procession and a concert: Columbia's Building was opened on the same day. A NUMBER of striking miners, with their wives, attacked the strip pit miners in one of the mines near Weir City, Kan. A fierce fight ensued, in which clubs and firearms were used. About 100 shots were fired and a number on both sides were injured. No one was killed. IT is estimated that ten thousand persons in Denver, Col., and twenty thousand out. side of it have been thrown out of work by the cessation of silver mining. They are in great distress.


Article from Bismarck Weekly Tribune, July 28, 1893

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BISMARCK WEEKLY TRIBUNE: FRIDAY, JULY 28 1893 xpectant of an early turn in the current of affairs. They attach no serious importance to the troubles among the far western small banks, as it is found that those institutions are generally in a sound condition and may be expected to resume payment so soon as the temporary panic among depositors subsides. The "run" on the Denver banks appears to be chiefly due to the exciting harangues of certain local demagogues and silver fanatics, and therefore must subside on the sober second thought; while there will remain the advantage of its weakening the pro-silver element in Congress during the coming debate on the Sherman act. The silver states are having a taste of the fruits of their policy and will henceforth better understand what that policy means. The stock market has been unsettled and widely fluctuating. The "bears" have summoned their whole force of attack, employing every resource of rumor and canard and assailing almost every important stock on the list in detail. With allies in London, they have also attacked our securities in the transatlantic markets, causing heavy declines there and London sales in this city. Their forces have been handled in concert and with great skill, and some heavy declines have resulted from "short" sales from which however there have been quick recoveries upon purchases to cover the sales. The unsettled condition of the London market and the bank troubles in the west have encouraged the "bear" side, and that they have rot made a deeper impression on the market is clear evidence of its intrinsic strength. Purchases for investment are certainly on the increase, and hoarded money is gradually being turned into the dividend paying stocks. again into similar channels. Intelligence, enterprise, and genius would assert itself in the future as in the past, and it would be but a question of time when practically the same conditions as now exist would be brought about. It is pleasant to contemplate a condition of universal peace, contentment and prosperity for all, and quite another thing to put theory into practice. A sliding scale of taxation is the most logical theory. Remove the burdens of taxation as much as possible from the poor and add them to the rich. The millionaires do not pay their proportion of the taxes. They have not borne their just proportion in the past, else the accumulation of these vast fortunes in so short a time would not have been possible. THE North Dakota Independent, the organ of the present administration, goes out of its way to hit ex-Governor Burke, by declaring that "the people of the northern part of the state have lost faith in criminals getting their just deserts since Governor Burke pardoned, etc." Governor Burke pardoned one man out of the penitentiary for every month he was governor. Governor Shortridge's record has been the same and the TRIBUNE doesn't for a moment question the justness of this action. The pardoning power is one of the most difficult problems a governor has to deal with and those who know the least about the matter should be the last to criticise. The Independent is right when it says that the pardoning power should be in the hands of a board and not in the hands of the executive. It would relieve the governor of great embarassment. THE silver producing states that are endeavoring to pit area against capital full confession of his awful crime, and that it was taken down by a stenographer, has been transcribed, read to him and signed by the murderer. It ought not to require much time to meet out justice to this tiend, who, driven to the deed by lust as he confesses, brutally killed six people. DURING the fireworks display at the World's Fair, Saturday night, a bomb lost its bearings and fell through a light in the roof of the Manufactures building and set fire to one of the window screens. Now the authorities announce that there will be no more displays of fireworks on the grounds. On this mode of reasoning, if the roof should be taken off by a cyclone some day an order would be issued to put no more roofs on buildings. THE appointment of ex-Gov. Geo. C. Perkins, of San Francisco, United States senator to succeed the late Senator Stanford, was a disappointment to the friends of Editor Mike DeYoung, who thought they knew the intentions of Governor Markham. The dispatches say that Perkirs is a strong man and his greatest unpopularity comes from his friendship towards the Southern Pacific railway corporation. OCTOBER 11th is the day decided upon for North Dakota day at the fair, the theory being that at this late date very many farmers will be enabled to be present. The month of October will be the most interesting time for farmers to go to Chicago. The great display of live stock will be made in that month and it is certain that it will be the greatest display of the kind ever seen in the world. ATTORNEY GENERAL STANDISH has issued another proclamation. This time A ments of THE greatly d is being belief that state is v trust to i twine. I to make July pier binding t A. FEW


Article from Idaho County Free Press, July 28, 1893

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THE SITUATION IN DENVER Three More Supposedly Solid Banks Go to the Wall. I CROWD OF ANXIOUS DEPOSITORS Who Break Out in Tears and Wallings When the German National Closes. Teller Expresses His Views. DENVER, July 19.-The panic in this city was resumed this morning with renewed vigor. As a result the old German National Bank, with a reputation for stability of twenty years standing, and the equally reputable State National and the extremely strong Peoples' National failed this morning. All night depositors stood in line in front of the German National and by 9 o'clock there was one long sea of faces stretching down the street. At the opposite corner, where the State National has so long done husiness, was also a crowd of anxious depositors. Here the people were relieved of their doubts when at 9 o'clock a notice was posted on the door that the bank would not open, owing to a lack of ready cash. At the German National just before opening time a notice was posted on the window stating that it had closed temporarily. This notice caused a distressing scene. Men and women down the line broke out in tears and wailing. The run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National and the German National. A number of minor commercial concerns went under today. The run on the Denver National is over, with plenty of money still in sight. The same is true at the City Bank and all other unfailed banks. Business men are beginning to breathe more freely. Teller on the Situation. DENVER, July 19.-Senator Teller, in an interview upon the financial situation in this city, says: "There is no one reason to which the trouble can be charged. It is partly to the silver agitation, but more to the general depression affecting the entire country. The bank failures yesterday were unwarranted and are directly chargeable to the people who became frightened and panic stricken at a shadow. There is nothing less fair than to blame all our ills to silver. You had much better blame some to the silver speeches. Teller expressed the belief that the Sherman law will be repealed but not without a substitute of greater benefit to silver. Oakes Denies the Report. NEW YORK, July 19.-A story is current this afternoon that there is danger of the Northern Pacific passing into the hands of a receiver. President Oakes emphatically denied the report. Both Are small Concerns. TOPEKA, Kan., July 19.-The state bank commissioner is informed of the failure of the State Bank of Parker and Woodson's state bank of Yate's Centre. Both are small concerns. Two Banks in Oklahoma. OKLAHOMA CITY, O. T., July 19.-The Bank of Oklahoma and the Oklahoma National bank have failed. The First National stood a heavy run. No statements are given out. A Newspaper Assigns. MOBILE, Ala., July 19.-The Daily Register, one of the oldest newspapers in the South, has made an assignment. Publication will be continued under authority of the court. A California Bank Re-opens. Pomona, Cal., July 19.-The People's Bank re-opened this morning with plenty of coin. Only four dollars were drawn out the first hour. The deposits are liberal. A Moutana Bank Closes. WASHINGTON, July 19.-The comptroller of the currency is informed of the failure of the Bozeman National Bank, at Bozeman, Mont. A Carpet House Fails. BROOKLYN, July 19.-The large carpet house of Bardenburg & Co. has assigned.


Article from Fisherman & Farmer, July 28, 1893

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LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000. was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GARRETT. of Philadelphia, who with her sister. Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair. committed suicide by leaping from a window at the Briggs House. THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank. a small private institution, also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery ; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta. Maita, Flag-Lieutenant Gilltord and Staff-Commander Hawkins Smith testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted.


Article from The Abbeville Press and Banner, August 2, 1893

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LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000, was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GABRETT, of Philadelphia, who with her sister, Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suicide by leaping from a window at the Briggs House. THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution, also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta, Malta, Flag-Lieutenant Gilltord and Staff-Commander HawkinsSmith-testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted. PRESIDENT CLEVELAND returned to Gray Gables, Buzzard's Bay, Mass., from his fishing trip; he said that his health was splendid and that his rheumatic trouble had left him. FIRE on the dairy farm near Carteret, N. J., occupied by Thomas Stugg destroyed buildings covering seven acres, and caused a loss of about $30,000. THE drouth, which extended over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen, of which six are National, five savings and two private institutions. Two men were mortally wounded and one instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith, United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as a midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE manufacture of the new army rifle (the Krag-Jorgensen) is being pressed vigorously, and a large number of special cutters and sharpers have already been procured. It is believed that the first lot of completed arms will be ready for delivery and issue to the service about September 1. FRANCE sent an ultimatum to Siam giving her forty-eight hours in which to comply with her demands. REAR ADMIRAL MARKHAM, in his testimony before the Malta court martial, said that Sir George Tryon's command was impossible to follow with safety.


Article from The Madison Daily Leader, August 18, 1893

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Denver Bank Resumes. DENVER, Aug. 18.-The National Bank of Commerce, one of the six suspended national banks of Denver, was the first to resume, opening its doors for business Thursday.


Article from The Salt Lake Herald, August 18, 1893

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A Denver Bank Resumes. DENVER, Aug. 17.-The National Bank of Commerce reopened for business today with almost 100 per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by September the 1st.


Article from Deseret Evening News, August 18, 1893

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Other Banks Resume. DENVER, Aug. 17.-The National Bank of Commerce re-opened for business today with almost a hundred per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st.


Article from The Worthington Advance, August 24, 1893

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A CONVENTION of the Pan-American Bimetallis association will be held in St. Louis on October 3 next. A CYCLONE near Humboldt, Neb., did great damage and Mrs. G. Schultz and her son were fatally injured and horses and cattle were killed. THE Union national bank at Racine and the banks at River Falls and Ellsworth, in Wisconsin, closed their doors. The private bank of Levi Hall at Oswego, III., and the Cardington Banking company at Cardington, O., also suspended. A BLAZE in St. Paul did $100,000 damage to the music house of W. J. Dyer & Bro. and Michael Clenan, a fireman, was killed. INTERPRETER YOSHIKAWA and Commissioner Minano, Japanese representing their government at the world's fair, have been converted to Christianity. THE impeachment of President Cleveland and Secretary Carlisle is demanded by the Advocate, the organ at Topeka of the Kansas populists, for failure to purchase the prescribed quantity of silver in July. THREE cars were dropped 60 feet by the giving way of a bridge near Milton, Va., and seven persons were killed and four injured. THE First national bank at Dubuque, Ia., the bank at Albany, Mo., and the Kendall county bank at Yorkville, III., closed their doors. MARTIN SCHULTZ and -his wife, an aged couple living near Cherokee, Ia., were murdered and their home ransacked by robbers. THE doors of the National bank of commerce at Denver, Col., have reopened for business. IN Cincinnati the Standard Wagon company, one of the largest concerns of the kind in the west, failed for $700,000; assets, $1,200,000. By a collision on the Chicago, Milwaukee & St. Paul railroad near Dubuque, Ia., twelve persons were injured THE death of John Logan Chipman, member of congress from the First district of Michigan, occurred at his home in Detroit, aged 63 years. THE Nebraska democrats will hold their convention at Lincoln October 4. IN a fit of anger Cyrus Brown, of Cincinnati, shot and killed his wife, to whom he had been married thirty years. VIRGINIA democrats in convention at Richmond nominated Charles T. O'Ferrall for governor and R. C. Kent for lieutenant governor. THE four banks in Le Mars, Ia., suspended. They were the First national and Le Mars national, with a capital of $100,000 each, and the Le Mars state and German savings banks. DRINKING water from an impure well caused the death of three children of J. L. Casey, of Little Rock, Ark., and the rest of the family were seriously ill, A TRACTION engine near Martin's Ferry, o., became unmanageable and ran backward down a hill, killing Carrie and Nellie Ackerman, aged 5 and 11 years, respectively, and fatally injuring Ella King. A FIRE at Benton, III., destroyed the city hall, post office and the Chronicle office. J. S. JOHNSON made 3 miles in 7:55% in a bicycle race at Minneapolis, lowering the record 15 1/4 seconds. BUSINESS has been resumed by the First national bank of Anthony, Kan., which suspended payment in July. A MOB wear Morganfield, Ky., lynched Charles Watson, a negro who cut the throat of little Sam Keith, 10 years old, to secure four dollars. WILLIAM J. JAMISON (colored), who murdered Supervisor Charles N. Aaron April 19, 1892, was hanged at Quincy, III. This was the third hanging in Quincy in sixty-five years. WITHIN ten days twenty members of the Meacham gang have been killed near Jackson, Ala., and five others were surrounded, but escaped.


Article from River Falls Journal, August 24, 1893

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WEST AND SOUTH. AT Goodland, Kan., a hailstorm wrecked several buildings and fatally injured a man named Wood and his two sons. IN St. Paul C. 0. Rice & Co., dealers in carpets and wall paper, made an assignment with liabilities of $112,000. FLAMES destroyed the Tubbs hotel at East Oakland, Cal., the loss being $200,000. IN convention in Des Moines the Iowa republicans nominated Frank D. Jackson, of Des Moines, for governor; W. S. Dungan, of Chariton, for lieutenant governor; G. S. Robinson, of Storm Lake, for supreme judge; J. W. Luke, of Hampton, for railroad commissioner, and Henry Sabin, of Des Moines, for superintendent of public instruction. The platform approves the administration of Benjamin Harrison; favors maintaining both gold and silver as unlimited legal tender for the payment of debt. every dollar to be of equal value; opposes state bank money; says the pension system now in practice is a menace to the honor of the brave and deserving national defenders, and declares in favor of local option. A CONVENTION of the Pan-American Bimetallic association will be held in St. Louis on October 3 next. A CYCLONE near Humboldt, Neb., did great damage and Mrs. G. Schultz and her son were fatally injured and horses and cattle were killed. THE Union national bank at Racine and the banks at River Falls and Ellsworth, in Wisconsin, closed their doors. The private bank of Levi Hall at Oswego, III., and the Cardington Banking company at Cardington, 0., also suspended. A BLAZE in St. Paul did $100,000 damage to the musie house of W. J. Dyer & Bro. and Michael Clenan, a fireman, was killed. THE doors of the National bank of commerce at Denver, Col., have reopened for business


Article from The Comet, August 24, 1893

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Controller Eckels has given the suspended National Bank of Commerce of Denver, and the American National Bank of Leadville, Col, permission to resume:


Article from Perrysburg Journal, August 26, 1893

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Miss.) opposed unconditional repeal. Cooper (dem., Ind.) opposed free coinage Mr. Alexander (dem., N. C.) favored it. DOMESTIC. MICHAEL CLENAN, a fireman, was tilled and several others injured at a laze in St. Paul which did $100,000 lamage to the music house of W. J. & Bro. MORE than 5,000 unemployed men in New York smashed doors and windows nd took forcible possession of a hall. "Tom KING," the notorious woman thief, was arrested at Denison, Tex. MR. AND MRS. MARTIN SCHULTZ, an couple living near Cherokee, Ia., murdered and their home ranacked by robbers. THE firm of T. J. Davis & Co., wholedry goods in New York, failed for 200,000. THE Pennsylvania railroad shops in Altoona, Pa., have been ordered to vork half time. The shops employ 8,men. THE supreme council of the American Legion of Honor in session in Milwauelected J. M. Gwinnell, of Newark, J.. supreme commander. THE National bank of commerce at Denver, Col., that suspended recently, eopened its doors. THE Standard Wagon company at incinnati, one of the largest concerns the kind in the west, failed for $700,assets, $1,200,000. FIRE destroyed the Grand opera ouse, city hall and 200 feet of the 'ennsylvania railroad depot at AtlanCity, N. J., causing a loss of $100,WESTERN Kansas politicians want he capital removed from Topeka to section. McPherson is the town uggested. TREASURY officers in Washington received an appeal from dis inguished Frenchmen asking closer rade relations with the United States. THE exchanges at the leading clearhouses in the United States during he week ended on the 18th aggregated 732,542,203, against $729,905,224 the preweek. The decrease, compared with the corresponding week in 1892, 27.6. BENTON, Ill., was visited by a fire vhich destroyed the city hall, post ofand the Chronicle office. THREE children of J. L. Casey, of Little Rock, Ark., are dead and the of the family seriously ill from rinking water from a polluted well. NEAR Martin's Ferry, O., a traction ngine became unmanageable and ran ackward down a hill, killing Carrie Nellie Ackerman, aged 5 and 11 ears, respectively, and fatally injuring Ella King. BUSINESS failures to the number of occurred in the United States in he seven days ended on the 18th, gainst 208 the preceding week and for the corresponding time last IN a bicycle race at Minneapolis J. Johnson made 3 miles in 7:15%, lowthe record 15½ seconds. WILLIAM J. JAMISON, a negro herb loctor, who murdered Supervisor Charles N. Aaron April 19, 1892, was anged at Quincy, Ill. This was the hanging in Quincy in sixty five TWENTY members of the Meachim have been killed near Jackson, within ten days. Five others were urrounded, but escaped. TWENTY-TWO pensioners at the solhome in Marion. Ind., received otice that their pensions had been disontinued. This makes overa hundred uspensions at the home since May. EPPINGER & RUSSELL, lumber dealers New York, failed for $400,000. A CIRCULAR, dated Chicago, has been to labor organizations throughout he country urging the unemployed to