441101167 44110
national
c332a883425b2ba0Accommodated withdrawals, Public signal of financial health, Capital injected
Click image to open full size in new tab
BUSINESS CASUALTIES. An Immense Failare of a Texan Banking Concern. Paris, Texas, March 23.-The Farmers and Merchant's bank suspended this morning. The failure was due to the suspension of Martin, Wise & Fitzhugh yesterday. As a result a big run is go ing on today at the City National bank. Capital stock $200,000, surplus $55,000. Deposits $250,000, loans and discounts $250,000.
Click image to open full size in new tab
BANK SCARE IN TEXAS. One Institution's Failure Starts a Run on Another. Paris, Tex., March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest and thought to be the strongest financial institutions in North Texas, with a paid up capital of $200,000, and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money and depositors became alarmed and a. run begun. All checks presented yesterday were promptly cashed. The bank officials forsaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building and it became necessary for the police to clear the sidewalks. At 11 o'clock, Col. George F. Hicks, vice president of the First National Bank, walked in and laid $100,000 on the City National's counter and told the people to come forward and get their money. This was follwed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.
Click image to open full size in new tab
BAD BANKING. Two Texas Banks in Trouble-One Has Suspendd. Paris, Texas, March 23.-The Farmers and Merchants bank here suspended this morning. The failure was caused by the suspension yesterday of Martin, Wise & Fitzhugh, cotton buyers. RUN ON ANOTHER BANK. A big run is in progress at the City National bank. The line of waiting depositors extends into the street and excitement runs high.
Click image to open full size in new tab
TEXAS BANKS EMBARRASSED. A Suspension at Paris and a Big Run on Another Bank. Paris, Tex., March 23.-The Farmers and Merchants' bank of this city suspended this morning. The failure was caused by the suspension yesterday of Martin, Wise & Fitzhugh, cotton buyers. A statement of assets and liabilities has not yet been given out. A big run is in progress at the City National bank. The line of waiting depositors extends into the street. Excitement runs high.
Click image to open full size in new tab
BUSINESS TROUBLES. Building and Loan Officers Short-Bank Failures, CHICAGO, ILL., March 23.-A bill for a receiver for the Christopher Columbus Building and Loan Association was filed in the Superior Court yesterday by the president of the association, who charges that David B. Sachsel, secretary, and Karl Kronenberger, treasurer, are short in their accounts to the amount of $35,000. The bill states that Sachsel admitted that he had appropriated $10,000 of the funds. Judge Ball appointed Arthur Nollan receiver of the association. The liabilities are stated to be $113,500, and assets $7,500. Police officers were sent to guard the offices to-day to prevent a threatened breaking open of the safe and conhscation of the property. Mrs. Sachsel says her husband is in Indiana and will return. WEST POINT, GA., March 23.-The West Point State Bank closed its doors yesterday. It was supposed to be a branch of the State Savings Bank of Atlanta, and since the failure of that institution it has been weakened from lack of patronage. W. C. Hale, who was connected with the State Savings Bank, being the vicepresident of the West Point State Bank, caused a heavy run upon the bank here soon after the failure of the State Savings Bank, and it has been in a shaky condition since. The West Point State Bank had a capital of $25,000, and the nominal assets amounted to about the same. PARIS, TEX., March 23.-At 1 o'clock this morning the Farmers' and Merchants' Bank, one of the oldest, and thought to be the strongest of the financial institutions in North Texas, with a paid-up capital of $200,000, and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cottom firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, depositors became alarmed, and a run begun. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild, and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building. and it became cessary for the police to clear the sidewalks. At 11 o'clock Colonel George E. Hicks, vice-president of the First National Bank, walked in and laid $100,000 on the City National's counter, and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin Wise & Fitzhugh.
Click image to open full size in new tab
A NORTH TEXAS BANK FAILS. Farmers and Merchants' of Paris Forced to the Wall. Paris, Texas, March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest and thought to be the strongest financial institution in north Texas, with a paid-up capital of $200,000 and a surplus of $60,000, made an assignment to Judge D.H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank money, depositors became alarmed and a run begun. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made but refused. When the doors opened this morning the run was renewed and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building and it became necessary for the police to clear the sidewalks. At 11 o'clock Col. George F. Hicks, vice president of the First National Bank, walked in and laid $100,000 on the City National's counter and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many contined to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.
Click image to open full size in new tab
F. AND M. BANK OF PARIS. Run on It Forced the House to Assign. DEPOSITORS TO BE PAID IN FULL. Assignee Says the Assets will Be Sufficient The City National Stood a Run Easily. Paris, Texas, March 23.-This has been a "black Friday" for this thriving city and it has passed the severest crisis in its history. For the first time a bank has closed its doors and suspended payment. The old Farmers' and Merchants' bank. that has been the depository at one time or another of all the business men of Paris, that has pulled many of them out of the hole and enabled them to continue busi. ness, filed a deed of assignment in the county clerk's office at 10:10 this morning, naming D. H. Scott as assignee. When the failure of Martin, Wise & Fitzbugh was announced yesterday some of the depositors in the Farmers' and Merchants' bank, who knew that Mr. Martin was its president and that the bank was heavily involved, began to draw out their money. This morning the bank opened as usual and the demands of depositors for their money began. The directors had evidently prepared for the contingency last night, and at a few minutes before 10 o'clock the doors werd closed and the deed was filed immediately afterwards. A small crowd gathered about the closed door and peered through the plate glass with the idle curiosity that the human race as a whole exhibits on such occasions. A few of them were depositors, but most of them had nothing to lose. The document filed transfers to D. H. d Scott all of the property of the bank, real, personal and mixed, of whatsoever nature. kind or description, consisting of real estate, money. stocks and bonds, notes. accounts. evidences of indebtedness, and, in fact, all property of whatsoever kind or description which the bank may own for the following purposes: D. H. Scott shall take possession of all of the said property of said bank. consistn ing of real estate, money, stocks and bonds notes, accounts and evidences of debt and to shall sell said real estate, stocks, bonds and other property for cash at public or private sale as he may deem best and shal collect all notes. accounts and evidences of debt and shall out of the proceeds of such sales and collections and money or hand
Click image to open full size in new tab
BANK TROUBLE IN TEXAS. Runs on Paris Institutions-Mártin, Wise & Fitzhugh Failure. PARIS, TEX., March 23.-At 10 o'clock this morning the Farmers' and Merchants' Bank, one of the oldest and, it has been thought, one of the strongest of the financial institutions in North Texas, with a paid-up capital of $200,000 and a surplus of $60,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. It was known that the firm owed the bank nfoney, depositors became alarmed, and a run began. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up the institution would be forced to the wall. An appeal to the other local banks for assistance was made, but refused. When the doors opened this morning the run was renewed, and continued until the bank was forced to close. This set people wild, and a rush was made for the City National, which was also a large creditor of Martin, Wise & Fitzhugh. A great crowd gathered in front of the building, and it became necessary for the police to clear the sidewalks. At 11 o'clock Colonel George F. Hicks, vice-president of the First National Bank, walked in and laid $100,000 on the City National's counter, and told the people to come forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allayed the fears of some, but many continued to withdraw their money. Apprehensions are felt for banks in neighboring towns who are involved in the failure of Martin, Wise & Fitzhugh.
Click image to open full size in new tab
PUT $100,000 DOWN. A Texas Bank Official's Effort To Stop a Run on the Institution. PARIS, Tex., March 23.-At 10 o'clock this morning the Farmers and Merchants' Bank, one of the oldest banking institutions in North Tomas, with & paid-up capital of $200,000 aud a surplus of $50,000, made an assignment to Judge D. H. Scott. This action was precipitated by the failure of the cotton firm of Martin, Wise & Fitzhugh yesterday. Depositors became alarmed and a run began. All checks presented yesterday were promptly cashed. The bank officials foresaw that if the run was kept up it would be forced to the wall. An appeal to the other local banks for assistance was made but refused. When the doors opened this morning the run was renewed and continued until the bank was forced to close. This set people wild and a rush was made for the City National, which was also a large creditor of Martin, Wise and Fitzhugh. A great crowd gathered in front of the building. and it became necessary for the police to clear the sidewalks. At 11 o'clock Col. George F. Hicks, Vice-President of the First National Bank, walked in and placed $100,000 on the City National's counter, and told the people to eome forward and get their money. This was followed by the announcement that the bank would remain open until 6 o'clock to pay depositors. This allay ed the fears of some, but many continued to withdraw their money.
Click image to open full size in new tab
The Farmers' and Merchants' Bank of Paris, Tex., failed Tuesday and precipitated a panic and run on the City National Bank, which withstood it to the closing hour.
Click image to open full size in new tab
Oklahoma Banks Close for Week. Oklahoma City, Okla., Oct. 28.-Acting Governor Filson today issued a proclamation closing the banks of the territory for one week, on demand of the bankers. This action was taken because the banks at Kansas City and St. Louis refused to forward cash to the banks of the southwest. Concerted Action Taken. It is said that a consultation of the bankers of Oklahoma, Indian territory, Arkansas and northern Texas by means of the telephone took place during the early hours today, and all have taken similar action. The closing is for the purpose of protecting the banks in case of a run.