4474. Herman Schaffner & Co. (Chicago, IL)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: June 3, 1893
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 0adaaddd

Response Measures

None

Description

Herman Schaffner & Co., a private banking house in Chicago, made a complete assignment on 1893-06-03 to the American Trust and Savings Bank (assignee). Multiple articles report the assignment (suspension) and that a receiver/assignee was named; reports indicate insolvency caused by heavy exposure to commercial paper and the disappearance (and likely suicide) of Herman Schaffner. The failure precipitated runs at other Chicago savings institutions, but there is no clear description of a depositor run on Schaffner & Co. itself prior to the assignment. Therefore classified as suspension leading to closure/receivership.

Events (2)

1. June 3, 1893 Receivership

Newspaper Excerpt: The assignment of the bank was made to the American Trust and Savings Bank. J.R. Chapman, cashier of the American Trust and Savings Bank, the assignee, put up the following notice: This bank is in the possession of the American Trust and Savings Bank.
Source: newspapers

2. June 3, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Assignment/ suspension caused by insolvency from heavy dealings in commercial paper and losses from recent failures; precipitated by disappearance of senior partner Herman Schaffner which caused distrust.
Newspaper Excerpt: Herman Schaffner & Co., private bankers, made a complete assignment to-day. ... The assignment of the bank was made to the American Trust and Savings Bank.
Source: newspapers

Newspaper Articles (17)

1. June 3, 1893 Evening Star Washington, DC

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SENSATIONAL FAILURE IN CHICAGO. Schaffner s Co. Assign-Ramored Suicide of the Head of the House. CHICAGO. May 3.-Herman Schaffner & Co., private bankers, made a complete assignment today. Schaffner & Co. have been the largest private concern in this city, or in the northwest, dealing exclusively in commercial paper. The firm was also one of the oldest of its kind in Chicag o. No statement of the affairs of the bank was filed in court on the application for a receiver. The assignment of the bank was made to the American Trust and Savings Bank. Early today the cashier of that institution visited the bank at the Title and Trust building only to find a large and demonstrative crowd assembled and the doors closed. To add to the excitement it was reported that Schaffner had committed suicide. It is stated that the creditors of the bank will lose nothing. Attorney Levy Mayer, representing the assignee. stated that, even in the event of a forced liquidation, there will be enough money to meet all liabilities. The firm was considered one of the most solid private banks in the country. It did a small deposit and brokerage business, and its greatest busine38 was a commercial brokerage business with banks all over the country. In the regular course of its business the bank sold commercial paper without indorsing it and also without any liability. Most of the paper was bought on the strength of mercantile houses by which it was in dorsed. DISAPPEARANCE OF SCHAFFNER. The assignment was undoubtedly caused by the disappearance of Hermann Schaffner, the senior member of the firm. of which the other member is A.T. Becker. Yesterday noon Schaffner left his coat in the office and stated to his partner that he was going out on an errand. Since then nothing has been seen or heard of him. He has not been at his home at 3217 Wabash avenue, and the police have made vain efforts to discover his whereabouts. This fact started a rumor on the board of trade this morning that he had committed suicide. The worst is feared by his friends and business associates. Mr. Schaffner's partner was so much moved over the disappearance of his associate that last night he became ill, and today he is at home suffering from the depression and so ill that he is confined to his bed. The bank had been in trouble for several days and the impending disaster appeared to have a most distreesing effect upon Mr. Schaffner. No statement of the assets and liabilities has been made or is possible until the assignee goes over the books. A meeting of those interested in the bank will be held Monday or Tuesday next to see about resuming business.

2. June 4, 1893 The Helena Independent Helena, MT

Article from The Helena Independent, June 4, 1893

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PRIVATE BANK FAILS. / Expected to Resume in a Few Days and Pay in Full. CHICAGO, June 3.-Herman Schaffner & Co,, private bankers, made an assignment. The firm is the largest private concern in Chicago or the no:thwest, dealing exclusively in commercial paper. The firm is also about the oldest of its kind in Chicago. An investigation developed the fact that the assignment was the direct result of the disappearance of Herman Schaffner, the senior member of the firm. It is said that the bank had been in straits for some days, and that its difficulties preyed very heavily on Schaffner's mind. He left the bank yesterday afternoon and has not been seen since, though a diligent search was made for him. The Attorney for the bank made a statement in which he says it is expected that the suspension will be only temporary and was made only because Schaffner's disappearance was likely to cause distrust. The firm dealt in mortgages which it sold on their merits without endorsement and is therefore not liable. No bank in the country will lose anything, and he feels sure the firm will pay in full. CHICAGO, June 3. - -The great Grant locomotive works, which were moved here from New Jersey a couple of years ago. being pressed by some of its creditors and in order to provide ready oash, has called a meeting of its stockholders. The recent strike prevented the filling of contracts, which is the cause of the trouble. The company is molvent, with assets greatly exceeding the liabilities. KOKOMO, Ind., Juno 3.-The grand jury investigating the Greentown bank failure will not report before Tuesday morning, but the evening papers here announce with much positiveness that indictments have been found against Ex-Gov. Chase, John W. Paris and Cashier Walden. It is also said an indictment was found against Zimri Duggins, of Columbia National bank famo.

3. June 4, 1893 Wheeling Sunday Register Wheeling, WV

Article from Wheeling Sunday Register, June 4, 1893

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HERMAN SCHAFFNER & CO. CLOSED. A General Assignment-It Was the Largest Private Concern in the Northwest and Handled $35,000,000 of Commercial Paper Last Year. CHICAGO, June 3.-Herman Schaffner & Co., private bankers, made a complete assignment to-day. Schaffner & Co., have been the largest private concern in this city, or in the Northwest, dealing exclusively in commercial paper. The firm was also about the largeast one of its kind in Chicago. No statement of the affairs of the bank was filed in court on the application for a receiver. The assignment of the bank was made to the American Trust and Savings Bank. Early to-day the cashier of that institution visited the bank at the Title and Trust building only to find a large and demonstrative crowd assembled and the doors closed. To add to the excitement, it was reported that Mr. Schaffner had committed suicide. The assignment was undoubtedly caused by the disappearance of Herman Schaffner, the senior member of the firm, who has been missing since yesterday. The police were notified this morning to keep a sharp look out for Mr. Schaftner. J.R. Chapman, cashier of the American Trust and Savings Bank, the assignee, put up the following notice: "This bank is in the possession of the American Trust and Savings Bank." Mr. Chapman, to inquirers, said: "I cannot tell you what the assets and liabilities are until I get a statement from the books. That statement will probably be issued to-day. The cause of the failure-too much commercial paper -they were the biggest dealers in commercial paper in this country. They handled $35,000,000 of it last year, and that is the cause of the failure. I can say nothing further until a statement has been prepared of the bank's condition, and men are at work on that now af fast as they can." In the absence of a statement by the assignee it is given out, but not authoritatively, that the liabilities of the concern will not exceed $500,000, and the assets more than cover the amount.

4. June 4, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 4, 1893

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ANOTHER BANK FAILURE, Chicago, June 3. - Herman Schaffner & Co., private bankers, have made an assignment. The firm was the largest private concern in Chicago or the northwest, dealing exclusively in commercial paner. The firm was also about the oldest of its kind in Chicago, No statement of the bank's affairs was filed with the application for a re ceiver. The assignment was made to the American Trust and Savings Bank. To add to the excitement, it was rumored that Schaffner had committed suicide. Investigation has developed the fact that the assignment directly resulted in the disappearance of Hermann Schaffner, the senior member of the firm. It is said that the bank had been in sore straits for several days, and that its difficulties weighed very heavily on Schaffner's mind. He left the bank yesterday afternoon and has not been seen since, though diligent search has been made for him. His friends fear mental aberration. The cause of the failure was too much commercial paper.

5. June 4, 1893 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, June 4, 1893

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HEAVY FAILURE IN CHICAGO. Disappearance of the Senior Partner and the Junior Partner Sick. CHICAGO, III., June 3.-Herman Schaffner & Co., private bankers, have made an assignment. The firm is the largest private concern in Chicago or the northwest dealing exclusively in commercial paper. The firm is also about the oldest of its kind in Chicago. No statement of the bank's failure was filed with the application for a receiver. The assignment was made to the American Trust and Savings bank. The cashier of that institution, on visiting the suspended institution's quarters this morning, found a large, demonstrative crowd around the closed doors. To add to the excitement it was rumored that Schaffner had committed suicide. Investigation developed the fact that the assignment was the direct result of the disappearance of Herman Schaffner, the junior member of the firm. it is said the bank has been in straits for some days and that its difficulties have preyed very heavily on Schaffner's mind. He left the bank vesterday afternoon and has not been seen since, though diligent search has been made for him. His friends say mental aberration is not known in his family and they fear his distress has unbalanced his mind and that some mishap has befallen him. The police have been notified to keep a sharp lookout for him. His partner, A. G. Becker, is so overcome by the train of ills that he has taken sick and is now confined to his bed. A representative of the assignee says the cause of the failure was too much commercial paper. In this line the firm was the largest in the country, handling $35,000,000 worth last year. There has been little market for it since tight money came. It will take some time to make up a statement of assets and liabilities. Caught by Recent Failures. It is said the firm was caught by several recent failures for sums ranging from $100,000 down. It is further said the bank, when in need of money, pledged commercial notes as collateral for advances from other banks. There is also a theory that Schaffner was caught in the recent great slump in values on the local stock exchanges. The attorney for the bank has made a statement in which he says it is expected the suspension will be only temporary, and it was made only because of Schaffner's disappearance, which was likely to cause distrust. The firm dealt in mortgages, which it sold on their merits without endorsement, and 18 therefore not liable on it. No bank in the country will lose anything, and he feels sure the firm will pay in tull. NEW YORK, June The correspondent in New York of Herman Schaeffer was the American Exchange National bank. The Chicago bank formerly kept an average balance of $20,000 at the bank. and it had been recently reduced. An overdraft from them for $900 was thrown out today.

6. June 4, 1893 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, June 4, 1893

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A CHICAGO BANK FAILS Chicago, III., June 3. - Herman Schaff nor & Co., private bankers, made a complete assignment today. Schaffner & Co. has been the largest private concern in this city or in the northwest. dealing exclusively in commercial paper. The firm was also about the oldest one of its kind in Chicago. No statement of the offairs of the bank was filed in court on application for a receiver. The assignment of the bank was made to the American Trust and Savings bank early today. The cashier of that institution visited the bank at the Title and Trust building only to find a large and demonstrative crowd assembled and the doors closed. To add to the excitement it was reported that Schaffner had committed suicide. The assignment was caused by the disappearance of Florman Schaffer, the senior member of the firm. of which the other member is A. G. Breeker. Schaf. for yesterday afternoon left the bank and since then has not been seen. Grave fears are entertained by Schaffer's friends for his safety. It is said acute mental abberation is not unknown in his family. It is feared that the troubles that threatened, and the shadow of coming business collapse have made him temporarily irresponsible The cause of failure was too much financial speculation and lack of business transactions in a commercial way. It is expected the assignment will be but temporary and meanwhile a complete inventory of the firm's assets will be made. Brecker and representatives no or even of of dation. doubt In the fears absence a forced statement entertain liquiby the assignees, it is said that the liabilities of the concern will not exceed $500,000. and assets will more than cover that amount.

7. June 5, 1893 The Wilmington Daily Republican Wilmington, DE

Article from The Wilmington Daily Republican, June 5, 1893

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Chicago's Disastrous Bank Failure. CHICAGO, June 5.-Herman Schaffner & Co., private bankers, at 100 Washington street, have failed, a notice being posted on their doors saying the American Trust and Savings bank had been made assignees. The reason given was the disappearance of Herman Schaffner, who has not been seen since Friday, but the state of things disclosed shows that the suspension could not have been put off much longer. The deposits amount to about $850,000 and the depositors will get little or nothing, and in addition to this the liabilities will foot up nearly $1,200,000 more. It is believed that Schaffner has committed suicide.

8. June 5, 1893 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, June 5, 1893

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No Statement Made. CHICAGO, June 5.-Herman - Schaffner & Co., private bankers at 100 Washington street, made an assignment in the county court. No statement of the af. fairs of the bank was filed in the application for a receiver.

9. June 5, 1893 Evening Capital Journal Salem, OR

Article from Evening Capital Journal, June 5, 1893

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Private Bank Fails. CHICAGO. Ills., June 3.-Herman Schaffner & Co., private bankers, have made an assignment. The firm is the largest private concern, in Chicago or the Northwest, dealing exclusively in Commercial paper. The firm is also about the oldest of its kind in Chicago. No statement of the bank's affairs was filed with the application for a receiver. The assignment was made to the American Trust and Savings bank. To add to excitement,it was rumored that Schaffner had committed suicide. Investigation developed the fact that the assignment was the direct result of the disappearance of Herman Schaffner, senior member of the firm. It is said that the bank has been in straits for some days and that it its d'fficulties preyed very heavily ou Schaffner's mind. He left the bank yesterday afternoon and has not been seen since, though diligent search has been made for him. Friends fear mental aberration. The cause of the failure was too much commercial paper.

10. June 5, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, June 5, 1893

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ANOTHER NK FAILURE. A Crash at Chicago -Supposed Suicide of One of the Owners. CHICAGO, June -Another bank went to the wall yesterday when the private firm of Herman Schaffner & Co., the largest house of the kind in the city, assigned. J. B. Chapman, cashier of the American Trust and Savings Bank, the assignee, put up the following no. tice: "This bank is in the possession of the American Trust and Savings Bank. Mr. Chapman to inquirors said: "I cannot tell you what the assets and liabilities are until I got a statement from the books. The cause of the failure? Too much commercial paper. They were the biggest dealers in commercial paper in the country. They handled $35,000,000 of it last year. There was no sale to speak of this year, and that is the cause of the failure." Some months ago, it is said, Schaffner & Co. got caught in the Deimel Brothers failure for over $100,000, in the Dalzell newspaper failure for $25,000, and in the M. E. Page failure for a large amount. The deposit business of Schaffner & Co. is said to have been only moderate. Regarding the firm's transactions in commercial paper, it is stated that Schaffner never sold any with his own indorsement, but always on its merits. In the course of his business, when he did not have any money of his own, he borrowed from the banks and pledged the commercial notes as collaterál. It is said Mr. Schaffner was caught in the recent slump on the local stock exchange. In the absence of a statement by the assignee, it is given out. but not authoritively, that the liabilities will not exceed $500,000, and the assets more than cover the amount. Schaffner & Co.'s fallure caused one of the most exojining scenes ever witnessed on the floor of the Chicago stock exchange. From the opening to the close the bidding was spirited, and an immense number of deals were put through. Stocks declined with surprising rapidity, and for a time the oldest brokers were at a loss to estimate how long the slumping would continue. As a result of the day's trading, many of the small holders of the West Chicago railway and North Chicago street railway stocks have serious trouble in meeting their margins. To add to the excitement it was reported that Schnaffner had committed suicide. The assignment was undoubtedly caused by the disappearance of Horman Schaftner, the senior member of the firm, of which the other member is A. G. Becker. For several days the bank. it is said, has been in trouble, and the impending disaster appeared to have a most depressing effect upon Mr. Schaftner. Yesterday afternoon he left the bank, and since then has not been seen. The worst is feared by his friends and business associates. During yesterday afternoon he did not appear at his usual places, and all during the evening a vigorous search was maintained by his family and friends. At midnight he was still missing, and at o'clock this morning Julius Rosenthal, his brother-in-law, went to the home of Chief of Police McClaughrey and told him all the facts in the case. Among bankers the misterious disappearance of Mr. Schaffner, leaving out the insanity theory, was explainable only on one ground. Said one: "I do not see whv he left if he had not been indorsing commercial paper too heavily." Mr. Schaffner's partner was BO much moved over the disappearance of his associate that last night he becamo ill and he is now at home suffering from the worry. The gravest fears are entertained by Mr. Schaffner's friends for his safety. It is said that acute mental aberration is not unknown in his family.

11. June 6, 1893 The Evening Herald Shenandoah, PA

Article from The Evening Herald, June 6, 1893

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Schaffner Drowned Himself. CHICAGO, June 6. - -Yesterday's developments in the search for Herman Schaffner, head of the suspended banking firm of Herman Schaffner & Co., who has been missing since Friday afternoon, tend to prove that be is the man who drowned himself in the lake off Diversey street The police are dragging for his body.

12. June 6, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 6, 1893

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AFRAID OF BANKS. Poor People Draw Out Their Savings. MONEY READY ON DEMAND. Chicago Savings Institutions May Be Shaky, but They Certainly Show No Sign of It. Special to THE MORNING CALL June 5.-The failure of HerrCHICAGO, bank, which mann, Schaffner & Co.'s OCcurred bore fruit to-day in welldefined which were ou almost if not one of last runs week, every precipitated the savings banks of The first effect excitement was of the Chicago. the to Bank feel Jewish the of Commerce, where a great many class acThe Schaffner very counts. citizens of the poorer failure keep bore had their down much alarmed them, and they Bank of Commerce at openupon hour. the The doubled the ing tellers were up and fast as presented throughout the officials of the exno alarm pressing the paid day, checks whatever, and demands. bank saying that they were able to meet any The Illinois Trust and Savings Bank, which has a larger line of this class of deposits than any other bank in the city, amounting at times to over $12,000,000, put on an extra force of tellers and paid every one as rapidly as possible. At 3 o'clock this afternoon they posted a notice on the the bank until 10 o'clock night so as the present front open door long that to-night would excitement and remain every continued. The Hibernian Bank which, as its name implies, is the depository for a large number of Irish-Americans of small means, was crowded all day, but found no difficulty in meeting all demands. The Dime Savings Bank took advantage of the rule requiring, if necessary, sixty days' notice of withdrawal, and paid only a percentage of deposits to-day, and the Globe Savings Bank applied the thirty-day rule also. The Milwaukee-avenue Savings Bank sustained a moderate run throughout the day, and it, too. kept open house until 9 o'clock to-night. Equally spirited checking was noted the Price State State as well as upon upon Savings, National and the Savings Pacific Union Trust Company and the Avenue Bank, but ia no case was any alarm felt by well-informed people. In fact, at many of these institutions large depositors came in during the afternoun and made heavy deposits. situation was greatly aggravated a number of To-day's by Board of Trade defor reasons of their own, voted to the sensational in which they brokers, themselves rumors, who, circulation involved of at or another every in and a large o erators as stockyard the one city time number nearly well. of Notwith- leading bank standing these malicious efforts no fear is felt as to the safety of any of the leading banking institutions of the city, and the failure of Meadowcroft Bros, a minor institution with total deposits of perhaps $200,000, aroused little or no interest. Attorneys for the bank place the liabilities at $250,000, assets at $470,000. The latter consist chiefly of commercial paper which is not now readily convertible into cash. in court a was for the bank, on a appointed On application receiver petition of member of the firm. The bill gives as a cause of failure inability to reorganize the bank after the death of one of the brothers last February. The bank was established in 1860 by the father of the members of the present firm. Schaffner of lief To-day's that Herman developments confirm the the failed bebank of Herman Schaffner & Co. drowned himself in the lake. The police are dragging for the body. CHICAGO, June 6.-At midnight the Illinois Trust and Savings Bank was still off, and the crowd of depositors to draw their money was as ever. The were large paying anxious as otherwise bank officials to still out rather than pay as it meanta big to money, in pleased saving the profit institution interest. So-far the net is about At this anthe bank would not so nounced $35,000. that hour cared it was to close draw long as a single depositor out a dollar. The paying of money is being continued at seven windows. "We wills stay right here for three months and not close our doors night or day if such a proceeding should become necessary. We are good for any run, no matter how long it keeps up." At 1:30 A. M. the Illinois Trust and Savings Bank was still open, the force of tellers at the seven windows having by fresh men, were still been paving people relieved waiting for hours and money enough more. to the bank open two Mitchell said there was on hand and plenty men keep President money of plenty to pay of it out.

13. June 6, 1893 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, June 6, 1893

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Schaffner Drowned Himself. CHICAGO, June 6.-Yesterday's developments in the search for Herman Schaffner, head of the suspended banking firm of Herman Schaffner & Co., who has been missing since Friday afternoon, tend to prove that he is the man who drowned himself in the lake off Diversey street. The police are dragging for his body.

14. June 7, 1893 Tombstone Epitaph Tombstone, AZ

Article from Tombstone Epitaph, June 7, 1893

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which John Jones and Levi Hoskins were killed and two others mortally wounded. NEW YORK-Plans are practically agreed upon for a settlement of the differences between the Pacific Mail and Panama railroad. The railroad will charter three steamers run by the Pacific Mail between New York and Aspinwall and include them in its Columbian line, recently established in opposition to the Pacific Mail. The Pacific Mail will charter the ships of the North American Navigation Co. now running between Panama and San Francisco, connecting with the Panama road, Thus the railroad will control the business of the Atlantic & Pacific Mail business on the Pacific. CHICAGO-Herman Schaffner & Co. private bankers, made a complete assignment today. Schaffner & Co. has been the largest private concern in this city or in the northwest, dealing exclusively in commercial papers. The firm was also about the oldest one of its kind in Chicago. No statement of the affairs of the bank was filed in court on the application for a receiver. The assignment of the bank was made to the American Trust Savings bank. PITTSBURG, Kan. .President Walters of the United Mine Workers' Association, went to Osage county last night and today he will call out the miners of that county, numbering 2,000. The number of mine.s out in southern Kansas is 6,000. If the Osage county miners o out today practically every coal miner in the state will have joined the ranks of the strikers. DECATUR, III.-Sanuul Bush, the negro charged with assaulting Mrs. Hub Dill near here last Monday, and who was captured yesterday, was lynched by a mob of 200 men at 3 o'clock this morning. At just 2 o'clock twenty five men forced their way into the jail, seized the prisoner and hanged him to a telegraph pole. PITTSBURG-Two persons have died and many are prostrated by the intense heat of the past twenty-four hours. The thermometer [registered 97 degrees at noon. NEW YORK-The custom house markets show that during the week $6,506,300 in gold and $752,400 in silver have gone abroad. EAGLE PASS, Tex.-Fire started last night in the Fuente coal mines, operated by the Mexican International railway four miles from here. last night. The mine was discovered to be on fire, and smoke and fiames were seen issuing out of the air shafts. About one-half the men were working near the main tunnel and these made their escape, leaving twenty-six of their number to perish from the heat and smoke and poisonous gases which spread rapidly to every portion of the mines. At 12 o'clock today one body was recovered, and shortly after another, fearfully scorched and blackened was brought to the surface. It is believed by tomorrow the mine will be cleared of the heat and smoke, which it is at present impossible to cope with, and all the bodies will be recovered. All the miners employed were Mexicans and most of them leave destitute families.

15. June 8, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, June 8, 1893

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MINOR N Lbn For the Week Ending June 6. Cholera is spreading rapidly in Asiatic Turkey. Charles W. Dayton has been appointed postmaster at New York. Aeronaut Charles Richmond fell 3,000 feet from a balloon at Trenton, N.J. Five men charged with heinous crimes escaped from the jail at Sedalia, Mo. A new counterfeit two-dollar treasury note has made is appearance in Chicago. Eighteen persons were injured in e wreck on the Iron Mountain road near Mill Spring, Mo. The mare Esperanza, valued at $10.000, was fatally injured in a race at Sacramento, Cal. Sixteen passengers were injured, some fatally, in a railway disaster near Poplar Bluff, Mo. Judge Jesse J. Phillips has been elected to the supreme bench from the Second Illinois district. The greatest gas well ever struck in the Ohio field was drilled in 7 miles north of Findlay. John C. Mining, treasurer of Fort Jennings, O., has disappeared, leaving a shortage of $15,000. The office of the Western Mail newspaper in Cardiff, Wales, was burned, the loss being $300,000. Schelp Bros.' wagon and carriage works at St. Louis have been destroyed ky fire. Loss, $100,000. John McQuaid, John O'Connor and Jane Mooney committed suicide in Philadelphia Saturday. With a paid-in capitalsto of $1,200.000 the National union bank of New York has begun business. President Cleveland completed his fishing trip in Virginia Saturday and returned to Washington. The Fisher & Burnett Lumber company, with headquarters at Memphis, Tenn., failed for $500,000. Many miles of timber and several houses in Stevens county, Wash., were consumed by a forest fire. Fire destroyed the iron foundry works of J. B. & J. M. Cornell in New York, the loss being $300,000. Herman Schaffner & Co., of Chicago, the oldest and largest private bankers in the west, failed for $500,000. A mortgage for $8,000,000 has been placed on the property of the whisky trust to secure an issue of bonds. Andrew Carnegie has presented the First Christian church at Braddock, Pa., with a pipe organ to cost $3,500. George Deputy, who lost $50,000 in land speculation in Minnesota, committed suicide in an Indianapolis hotel. Ephraim Domedlan, a Braceville (III.) miner. killed his wife and then blew out his own brains. Whisky was the cause. The house of John Redding, a Kentucky farmer, was struck by lightning and three of its occupants instantly killed The office of the Hustler, a paper in Breathitt county, Ark., that advocated local liquor license, was blown up by dynamite. The Missouri river has cut a new channel behind the government dikes at East Atchison, Mo., and great damage has been done. Cheverton, Martin & Co., private bankers in Chicago, have assigned. The assets were said to amount to $100,000 and the liabilities to $70,000. Michael Hanagan, aged 70, completed fifty years of labor as a city official at Kingston, and ranks as the oldest official in active service in Canada. Two Memphis switchmen riding on the footboard of an engine were killed by the locomotive jumping the track and burying itself in an embankment. Justice Bradley has ruled that courts have the right to inquire as to sufficiency of the cause of removal of government employes under the civil service act.

16. June 10, 1893 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, June 10, 1893

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C. MINING, treasurer leaving of Fort a Jennings, JOHN O., disappeared, shortage persons of $15,000. were killed and which two FOUR injured in a cyclone Washfatally Wharton county, Tex. 100, swept ington Jenkins, a colored man aged was among were the killed. killed and two others were Two mortally MEN wounded at a primary election in Pineville, Ky. FURNITURE manufactories in employ- Cincinsome seventy in number, down, nati, 7,000 persons, have shut workmen ing owing to the demand of their for a nine-hour magazine day. of the Hecla Powder exTHE near Virginia, Minn., in town ploded. company Nearly every building was wrecked. Cox was killed and three fire- at CHIEF and one citizen fatally injured house of men burning of the furniture The Charles the Shiverick & Co., in Omaha. loss was $200,000. property BUSH (colored) was taken from SAM at Decatur, 111., by indignant criminally Mount jail Zion citizens and hanged for assaulting the wives of two farmers wife WILLIAM BENTE and his and Bente, Helen W. Dietz and burning Charles Elsie Pugsley lost their lives by the of building in New York. HERMAN a SCHAFFNER & Co., of Chica- bankthe oldest and largest private ers go, in the west, failed for $500,000. AUGUSTUS VICTORSON and Thomas the G. McLaury committed suicide at The Hotel Metropole in Chicago. was a wealthy Chicagoan New and former latter a wealthy resident of as Orleans. the Despondency was given the in both cases. THE cause gold reserve in the United States $90, treasury had on the 3d fallen to 000,000. SIXTEEN passengers were injured, near some fatally, in a railway disaster Poplar JOHN Bluff, McQUAID. Mo. John O'Connor and in Jane Mooney committed suicide Philadelphia in one day. THE attendance at the second Sunday of the world's fair grounds The opening was disappointing to the officials. The govadmissions were 54,304. ernment paid building, many of the exhibits eastern in other buildings and all the state buildings were closed. FIVE residents of northern Vermont Chinese arrested for smuggling were into the United States from Canada. A CYCLONE swept the northwestern of Wayne county, Ind., destroying were everything part in its path. No lives lost. THE Fisher & Burnett Lumber company. with headquarters at Memphis, Tenn., failed for $500,000. THE village of Woodington, O., was leveled by a cyclone persons were almost and many entirely injured beneath and Mrs. Mary Smith was killed her building. f THE E. A. Armstrong company. man- and ufacturers of and dealers in society for i military supplies in Chicago, failed $100,000. private banking house of MeadBros. in Chicago and were made by oweroft THE runs frightened suspended, depositors upon the Bank of Commerce, the i the Prairie state national bank, Prairie State Savings and Trust com- Hithe Union trust bank, the and bernian pany, bank and the Illinois trust savings bank, but these institutions met all demands promptly. THE office of the Hustler, a paper in 0 Breathitt county, Ark., that advocated by S local liquor license, was blown up dynamite. NEARLY 400 delegates were in attend- the at the opening session of t world's ance temperance congress in Chicago. in THE greatest gas well ever struck miles the Ohio field was drilled in 7 6 north of Findlay. IN a runaway at Kalamazoo, Mich., Mrs. L. A. Fagan was thrown from a wagon and killed and Mrs. T. W. Mur- inphy and Mrs. Ellison were fatally e n jured. THE fire loss of the United States and Canada for the month of May is estimated at $10,427,000. This is about million greater than the aggregate for May. 1882. f THE president authorizes the statement that he will call an extra session of congress early in September. Two MEMPHIS (Tenn.) switchinen s riding on the footboard of an engine were killed by the locomotive jumping the track and burying itself in an embankment. , THE People's bank at Bentonville, S robbed by six men of $10,000. 1, Kansas Grain company at e sas Mo., which claims to Ark., THE City, was be Kan- the a greatest buyer of grain from producers in the world, has failed. y REPRESENTATIVES of twenty-five state and territorial governments met in Chicago and organized a convention for trade the abolition of trusts, corners and 1, combinations of all sorts. THE Merchants' national bank of e Fort Worth, Tex., with a capital of $250, 000, closed its doors. e EDWARD SIMON & BRO., trunk. valise N e and bag manufacturers at Newark, J., failed for $250,000 a POTTER & POTTER, of Boston, pub e lishers of the New England Magazine d Yankee Blade, Wom in's Home Jour nal, American Vehicle and the Ames bury Daily, failed for $100,000.

17. June 16, 1893 Fisherman & Farmer Elizabeth City, Edenton, NC

Article from Fisherman & Farmer, June 16, 1893

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South and West. THE Old Kentucky Home at the Chicago Fair Grounds was dedicated. It is the Blue Grass State Building and one of the most attractive in the grounds. Miss Enid Yandel's statue of Daniel Boone was unveiled. AT the Sisseton Agency, South Dakota, Miss Cynthia Rockwell, an Illinois teacher at Coodwill Mission. has married Richard King, an Indian, studying for the Presbyterian ministry. THE Plankinton Bank in Milwaukee, Wis., closed its doors. The bank had loaned $200,000 to F. A. Lappen & Co. and the Lappen Furniture Company, and this was the principal cause of its suspension. THE Victoria Cordage Company, Cincinnati, Ohio, members of the Cordage Trust, has assigned. Assets, $500,000 liabilities, $400,000. TORNADOES did great damage to property in Mississippi, Tennessee, Arkarcas and Kentucky. At Rosedale, Miss., W. L. Bawdre and wife were killed. IOWA Prohibitionists nominated a full State ticket. THE members of the graduating class at Annapolis (Md.) Naval Academy, forty-four in number, received their diplomas at the hands of Secretary Herbert. W. V. N. Powelson, of New York, received the honors of his class graduating No. 1. A RECEIVER was appointed at Charleston, W. Va., for the Norfolk and Western Railroad. DURING a heavy rain storm fire was discovered in a block on Farnumstreet, Omaha, Neb. The entire city Fire Department was called to the scene. A high wind was blowing. One of the walls fell on seven firemen. Five of them were instantly killed. WHILE a primary election was held in Bell County, Kentucky, by the Democratic party, excitement ran high, and in a fight at Pineville, the county seat, John Jones and Levi Hoskins were killed and two others were fatally injured. OWING to a storm less than 60,000 persons visited the World's Fair on the second Sunday opening. TWENTY-FIVE men walked into Decatur, Ill., a city of 22,000 people, and lynched Samuel Bush on the principal street without opposition. Bush was a colored man accused of assaulting two white women. AT Chicago, Ill., Herman Schaffner & Co., private bankers, made an assignment. Schaffner & Co. have been the largest private bankers in the Northwest, dealing exclusively in commercial paper. JOHN C. MINING, Town Treasurer of Fort Jennings, Ohio, has disappeared with $5000 cash. and an additional shortage of $10,000 has been discovered. WILD and unfounded rumors of impending financial disaster caused a senseless run on many of the banks in Chicago. Those chiefly affected were the Prairie State National Bank, the State Bank of Commerce, the Hibernian Savings Bank, the Dime Savings Bank, the Union Trust Company's Bank and the Illinois Trust and Savings Bank. Meadowcroft Brothers, private bankers of Chicago, failed with liabilities estimated at $450000. THE Bank of Spokane, Washington, has failed. It is a private institution, owned by A. M. Cannon, who is reported to be worth $3,000,000. The Sandusky (Ohio) Savings Bank assigned, The Merchants' National Bank, of Fort Worth, Texas, capital $250,000, has failed.