4699. Third National Bank (Chicago, IL)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 236
Charter Number: 236
Start Date: September 27, 1873
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: db6ca029

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Other: Large shipments of currency arrived by express; clearing-house discussion of loan certificates mentioned in contemporaneous reports.

Description

Third National Bank (Chicago) faced heavy withdrawals during the Panic of 1873, suspended payment on 1873-09-27 because it could not convert securities into currency, and then resumed business about Oct 8–9, 1873 after currency inflows and support. Classified as run → suspension → reopening.

Events (3)

1. September 27, 1873 Run

Cause: Macro News
Cause Details: Heavy withdrawals during the nationwide Panic of 1873 and general stringency; inability to convert securities into currency amid the panic.
Measures: Bank suspended payments temporarily; later sought currency and support from other banks and clearing-house arrangements.
Newspaper Excerpt: The suspension of the Third National produces no uneasiness... The only suspension of Chicago banks yesterday was that of the Third National... the run on it having been heavy
Source: newspapers

2. September 27, 1873 Suspension

Cause: Macro News
Cause Details: Suspended due to inability to convert securities into currency at the time of the panic (liquidity shortage during the 1873 crisis).
Newspaper Excerpt: The Third National Bank, which suspended September 27th...
Source: newspapers

3. October 8, 1873 Reopening

Newspaper Excerpt: The Third National Bank resumes to-morrow morning. ... The Third National Bank, which suspended nearly two weeks ago, reopened its doors this morning. Its suspension was caused by inability to convert securities into currency at the time of the panic. The bank ... resumed business yesterday with gratifying results to its officers.
Source: newspapers

Newspaper Articles (21)

1. September 28, 1873 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, September 28, 1873

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BRIGHTENING. A More Cheerful Feeling in Chicago Financial Circles. The Suspension of the Third National Produces no Uneasiness. Calmness, Candor, and Complacency Control the Contrary and Curious. Receipts of Currency Here, $1,250,000. Meeting Last Evening of the Glearing-House Association. A Majority Report Submitted Indorsing the Issue of LoanCertificates. Messrs. Blair and Sol Smith Threaten to Withdraw if It Is Adopted. A Resolution Agreed to that the Issue of Certificates Is Inexpedient. No Undue Excitement Among Manufacturing Interests. Effect of the Lock-Up on the Chicago Railroads. The Situation Greatly Improved in New York City. The Stock-Exchange to Open on Tuesday Next. Money Obtainable in Wall Street at 7 per Cent. Western Country Banks Still Present a Firm Front. CHICAGO.

2. September 28, 1873 Chicago Daily Tribune Chicago, IL

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THE NATIONAL BANKS. THE FIRST NATIONAL, Immediately after the confirmed report of the susponsion of the Third National, which somewhat startled the public, there was a rumor of a heavy intended run on the First National, and some apprehension was realized As to the ability of this bank to stom the tide. True enough, the

3. September 28, 1873 Chicago Daily Tribune Chicago, IL

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in currency, and Mr. S. B. Cobb deposited over 8200,000 in another prominent bank. Such public-spirited and plucky citizens deservo infinito crodit. If others would put out their money Instend of hoarding it, the stringency would moon coase. Actions like those are noble, and do not look like a lack of confidence in Chicago business. PERSONAL. In the list of Directors of the Union National Bank who pledged themselves as personally liablo for the obligations of the bank the name of Daniel Thompson, one of its most responsiblo representatives, was unintentionally omitted in yesterday's issue. THE SUSPENDED. The only suapension of Chicago banks yesterday was that of the Third National. Every other bank cleared on Friday passed enfely through the Clearing-House yesterday. The list of B116pended numbers six, as follows Union National, Manufacturors' National, Second National, National Bank of Commerce, Cook County National, and Third National. LINCOLN PARK WAS crowded with people listoning to the music, and there was as many teams and carriages as on any other Saturday. This shows that the panic has not seized the people, whomo exomplification of common BOUBO in the crisis we have passed through was the finest over shown by any people. AN UNFOUNDED RUMOR. The rumor on the street yesterday that Field, Letter & Co. had recalled from the railway depots goods once platformed for shipment to country purchasers was uttorly unfounded. To a TRIBUNE reporter Mr. Leiter yesterday stated that the firm was doing business as usual; had refused no shipments, discharged no employes, and saw no necessity for either measure.

4. September 29, 1873 The Rutland Daily Globe Rutland, VT

Article from The Rutland Daily Globe, September 29, 1873

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two hundred dollars is a mistake. No such action has been taken. The banks are doing business as usual, except that they have stopped advances on the produce until the eastern banks shall be ready to respond. ### THE CLEVELAND BANKS. CLEVELAND, Sept. 27. There is but little excitement among business men in financial circles in this city over the monetary troubles. A feeling of confidence prevails, and there is scarcely a doubt but what the Cleveland banks will get through all right. The savings banks have adopted the sixty days' notice plan, merely as a precautionary measure. A RESUMPTION. DETROIT, Sept. 27. David Preston & Co, bankers of this city, resumed business to-day after a suspension of two days. ### THE TOLEDO BANKS. TOLEDO, Sept. 27. The banks of this city passed over yesterday in good condition. Several of them are stronger than at any time since the beginning of the run. The single failure of a banking house, Kraus & Smith, has had less effect than was apprehended. IN PHILADELPHIA. PHILADELPHIA, Sept. 27. Matters are quiet on Third street, the scarcity of currency being the only trouble experienced from the panic. Many large manufacturing concerns have, with great exertions, raised a sufficient amount of currency to pay full wages to their employes, while other firms have been able to pay only fifty per cent. of the wages due. CLEARING HOUSE OPERATIONS, CHICAGO, Sept. 27. At a meeting of the clearing house association a committee was appointed to draft a plan for the issue of loan certificates to be used in the clearing house in settlement of balances. ### THE STOCK EXCHANGE TO BE OPENED TUESDAY. NEW YORK, Sept. 27, 2.45 p. m. The stock exchange will open for business at the usual hour on Tuesday morning. This announcement indicates improved feeling on the street this afternoon, which has been brought about by a generally believed report that Com. Vanderbilt's brokers have to-day effected a general settlement in their heavy stock transactions. Very few transactions this afternoon. The following are the latest street cash quotations: New York Central 86; Lake Shore 64; Western Union 54; Pacific Mail 29; Rock Island 83; C. C. and I. C. 20; Union Pacific 18; Wabash 41. The details of business for opening the stock exchange will be arranged at the meeting of the governing committee Monday morning BANK COMMITTEE REPORT. At a meeting of the bank committee to-day a report was received from the committee to whom was referred the proposition of the committee of the stock exchange. The first suggestion of the latter had been anticipated by the action of the banks and the suggestion that the associate bank should guarantee payment of certified checks to the extent of their associated capital appears to the bank committee impracticable. In answer to another suggestion of the stock exchange committee the banking committee say the proposed modes of relief seem to look exclusively to the convenience and safety of the stock exchange, without comprehending danger and inconvenience involved to the bank. The clearing house committee have decided hereafter not to make public the amount of loan certificates issued. A special from Louisville says the German Insurance, Masonic savings, German Central savings, and Western banks have temporarily suspended. There is no run on other banks. The Louisville banking company has also suspended. AFFAIRS IN CHICAGO. A Chicago special says the Third National bank is reported closed and nothing doing on change. RECEIVER'S REPORT. WASHINGTON, Sept. 27. The report of the receiver of the first national bank shows that one hundred thousand dollars—the amount of surplus—will cover its losses from realizing on its loans and discounts. If the indebtedness of Jay Cooke & Co. is paid in full its capital stock will be unimpaired. MORE HARD CASH. LONDON, Sept. 27. The steamship Java, which sailed from this port for New York to-day, took £500,000 in bullion.

5. September 29, 1873 The Rock Island Daily Argus Rock Island, IL

Article from The Rock Island Daily Argus, September 29, 1873

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A Better Look There seems to be a more hopeful financial feeling in New York and Chicago. The Union National and the Cook County National resumed this morning. The Union National is the bank with which the First National in this city does business and of course that releases their balances SO they can be used. Mitchell & Lynde do business with the First National, in Chicago, and that bank did not suspend at all. The Third National, in Chicago, has suspended. That is the bank with which the Rock Island National does business-but it is believed to be a perfectly sound institution, and the suspension is thought to be merely temporary. The question is being raised as to the effect of these suspensions. It is held by some that it vitiates their organization and will compel them to wind up, if prosecuted. But we presume no one will be technical if they resume very soon. The Moline National (Wheelock's bank) has got the "age" of all of them in this county, for that institution never suspended at all.

6. October 2, 1873 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, October 2, 1873

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CHICAGO. -Beturning Confidence. CHICAGO, October 1.-The monetary aspect in this city to-day is quiet and hopeful. The banks feel better and stronger than they haveany day since the crisis. The restoration, of confidence and better feeling in New York is having a good effect here. No more suspension have occurred or are expected and affairs generally wear a decidedly brighter aspect. Currency continues to arrive in large amounts by express and through the post office, giving promises from this time forward of a sufficient supply with which to insure a heavier business. On 'Change something like the normal feeling has been exhibited to-day and the transactions accomplished indicate an approaching buoyancy in the grain and other markete. At the Union National Bank, suspended, matters are moving along smoothly toward settlement with depositore, which it is thought will be accomplished within the next three or four weeks. The Third National is still uncertain as to the time when it will rew sume. An encouraging feature, and one which will speedily become more general, is that our merchants and other business men are transferring accounts formerly kept with banks which have suspended to those which are doing business and known to be sound. Large Receipts of Currency. The receipts of currency continue large, some three millions being rem ported yesterday, while the demands on deposits are falling off. In fact some of the banks have already begun to furnish their customers with the usual accommodations, and the prospect is that it will not be long before business will resume its wonted channels. There is a much firmer feeling in the grain market, with an advancing tendency in prices. Paffenberger and Bean. The motion in the Criminal Court to quash the trial of Puffenberger was a1gued this morning and overruled by Judge Booth. He will therefore have to show why he did not carry more reliable time. The motion for a change of venue in Bean's case was this morning argued and sustained, and the trial ordered to take place in Wells county.

7. October 2, 1873 The Daily Phoenix Columbia, SC

Article from The Daily Phoenix, October 2, 1873

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MONTGOMERY October No death and no wew case yello fever for the twenty-fo hours. All apprehensionilo ever. The five last reported adder frestment are doing well. Peb ple who left are returning to their busineaa. and the yellow fever scare is at-an end. No one need apprehend danger in visiting Montgomery. PHILADELPHIA, October 1.-In the United States Circuit Court, before Judge Oadwalader, the order granted last week upon the petition of Edward. Wilson, against Jay Cooke & Co., to Whether should not be adjudioated bankrupts, which was to have been returned to-day, was continued until week, at the request of the debtors and by consent of the petitioner. Camogo, Ostober 1.-The financial situation here this morning presents a much brighter aspect than yesterday. The receipts of currency continue large; some $3,000,000 being reported yeaterday, while demands upon deposits are falling off; in fact, some banks have already begup to furnish their customers with the usual accommodation. The prospect is that it will not be long before business will resume its wonted channels. It is stated that the Third National Bank will resume business in a few days; probably by the beginning of another week. There is much firmer feeling in the grain market, with ad. vancing tendency in prices. WASHINGTON, October -The debt statement shows a decrease during September of $1,901,467. Coin in the Treasury $30,246,757; currency $3,289, 032; coin certificates $33,935,400 The financial situation here is improving, and to-day there is no indication of any excitement concerning banks and business quarters. Probabilities-For Thursday, in the Gulf and South Atlantic States, falling barometer, North and East winds. in oteasing cloudiness, and in the latter section rainy WeAther. PANAMA, October -Business exceeding duil throughout Peru. Several firms have suspended payment. Banks refuse to discount, and scarcely any coin is in circulation The steamer General Sherman, which carried the Polacio's revolutionary party to Honduras, is reported lying off Puerto Cabello, with her machinery disabled. A vessel has reported to the Governor at Sin Juan del Norte that a great many Americans from New Orleans had arrived with rifles, and were depredating in Rautan. A great many of these fillibusters were blacks. NEW YORK, October .-.There was a very quiet feeling in financial circles today, with entire absence of any exciting event. The firm of Northrup & Chick suspended this morning, bat the failure had no influence on the Stock Exchange, as the firm had no stocks; the suspension being caused by the withdrawal of deposit's. There was au other sharp advance in foreign exchange to-day, and leading bankers advanced their rates to 734 for sixty days sterling and 9 for sight. The suspension of Henry Clews & Co. was officially announced in the Stock Exchange today. Bank officers report that the demand for currency to be sent to country banks has fallen off. Several banks out of town tolegraphed to stop further shipments, and some others have returned greenbacks to*New York. Total amount paid out on account of November interest, $29,945 74. Albert Garnier and Maurice Daly play a match game of billiards, four ball, 1,500 points up, for the championship of America, at Tammany Hall, to morrow evening The Post acknowledges the receipt of 8162 for the relief of sufferers by the epidemic in Shreveport and neighborhood. An additional $100 was also forwarded by a sugar house. The American Bible Union for the revision of the Bible met to-day. The following officers were elected President, Rev. Thos. Armitage; Secretaries, Rev. W. H. Wickoff and Rev. W. H. Peudleton; Treasurer, Thos. Walter. The Board of Managers reported satis. factory progress in revising the Bible, and expect it to be finished this year. Addresses were delivered by Rev. B. Storres, of England, and others. UTICA, N. Y., October 1.-The Democratic State Convention met at noon. Hon. Mr. Beebe was chosen temporary chairman. Iu his speech, he advocated welcoming the Liberal Republicans to the convention. A temporary secretary was then appointed. The cases of the contested delegations were then referred to a Committee on Credentials, consisting of two from each judicial district. committee was then appointed to select

8. October 3, 1873 The True Northerner Paw Paw, MI

Article from The True Northerner, October 3, 1873

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news came that the banks of Chicago and Cincinnati had followed the example of New York. They at once yielded to the pressure. There is no apparent excitement on the streets. CHICAGO, Sept. 27.-Yesterday the financial tidal wave caused the first real damage in this city. At 10 o'clock a. m. it was announced from the Clearing-House that, on account of the extraordinary situation, no deposits would for the present be received and no checks would be paid by the following banks: Union National Bank, Cook County National Bank, Second National Bank, Manufacturers' National Bank, National Bank of Commerce. These banks all claim that their suspension is only temporary, that they have ample assets to meet all demands, and that they will resume business SO soon as they can convert those assets into currency. There is a strong belief that the crisis of the panic has been reached and passed, and that there will be no more suspensions. The mercantile classes do not seem to have been thus far affected, and have been able to meet all their obligations as they matured. Deposits are still made in all the banks. That there has been a withdrawal of currency for the purpose of hoarding it in private safes is obvious: but if the banks continue to meet the requirements of their customers a few days longer, most of this hoarded currency will come forth. The receipts of currency here by express are large. The country must have the breadstuffs and the provisions which are packed in our warehouses and stock-yards, and to get them the money must be sent here. A dispatch from Leavenworth, Kan., announces the temporary suspension of the following banks: First National, Second National, Leavenworth Savings, Clark & Co., Insley, Shire & Co., Newmans & Havens. Good feeling prevails among merchants, all seeming to appreciate the situation. CHICAGO, Sept. 29.-The two most important developments of Saturday were the suspension of the Third National Bank, and the announcement that the Cook County National, which closed on Thursday, would resumeo Monday (to-day). The suspension of the Third National, though not unlooked for in banking circles- the run on it having been heavy-created a feeling of depression in the community. The bank was the second largest in the city, its deposits amounting to about $4,000,000. It is said the institution will soon resume, as its securities are all right, and can be made available with little delay. All the banks, with the exception of those that had suspended, passed the ClearingHouse with flying colors. This fact, added to the cheerful news received from abroad. served to re-establish confidence, and renew and strengthen the spirit of moderation that has been generally manifested since the panic began ; and it came to be the accepted theory that the suspension of the Third National marked the turning-point of the crisis, that the storm had spent its fury, and the sunlight was about to break through the dark clouds. An immense volume of currency is flowing into the city. Over $4,000,000 has been received by express in the past forty-eight hours. The total assets of the Union National (familiarly known as Coolbaugh's Bank, and the largest in the city), which suspended last week, are given at $5,600,000; liabilities, $4.300,000. There is little or nothing doing at the stockyards. There is over a million dollars' worth of stock in the yards, and the pens are so full that no more can be received for the present. CINCINNATI, Sept. -Thefinancialsituation here to-day appears to be improved. At the close of business an improved feeling was plainly manifest. Sr. LOUIS, Sept. .29.-Quietnessreigns among the banks here. All are paying checks under the rule, and everybody seems cheerfully to acquiesce in the "arrangement. The feeling on Cliange was better, and prices for some articles are stiffened materially. OTHER POINTS. Detroit, Cleveland, Toledo, Milwaukee, Dubuque, Keokuk, DesMoines, and in fact every Western city and town heard from, report an improved feeling in financial circles. CHICAGO, Sept. 30.-About $4,000,000 in currency has been received in this city within the last 48 hours, making about $11,000,000 for the last five days. Three of the suspended banks have resumed. The Union National (Coolbaugh's) has gone into voluntary liquidation. Produce markets active. Wheat and corn are advancing. The storm is practically over, everything is serene, and people wonder why they allowed themselves to become so excited.

9. October 8, 1873 The Rock Island Daily Argus Rock Island, IL

Article from The Rock Island Daily Argus, October 8, 1873

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TELEGRAI The Financial Derangement. More Failures and more Rotten Banks. And more Defaulters and Thieves. The Farmers' Ticket in Henry County. Judge Gary decides that Divorce Cases must be heard in Open Court. Judge Williams decides the Sunday Law Constitutional. Aid for Suffering Shreve port. The firstSnow of the Season An Important R.R. Case in Joliet. Second Anniversary of the Chicago Fire. Other Items of Interest. CHICAGO. Oct 7 Financial affairs here about restored to ordinary lease and tivity, and business circles are confident The number of persons thrown out em ployment result of the called Panic very inconsiderable. few more will asked to temporarily share the burden employers in slight reductio of sala ries and wages until the health of the fi nancial world restored The Third National Bank resumes morrow morning. Bank Examiner Spink declares to be perfectly sound and splendid A special from Danville III. says The Exchange Bank C Short & Co to-day month extension deposits. time granted the that the bank Their forced suspend. bank with the of the Paris Danville and seven hundred coal lands three district mines active operation them. Their liabilities are not as yet esti mated NEW YORK, Oct Wylie, Knevals & Co. sugar dealers, suspended this morn ing commercial circles the feature of bus iness most gratifying is the activity grain and grain freights The export in wheat on a liberal scale and prices are quoted up The receipts wheat are large. The engagements freights for British ports embrace free shipments of wheat. petroleum and tobac H. Bailey receiver the National the Bank assets, showing the capital paired 38 cent. Ellis. President ne the bank, is out in card to the t ers and creditors which he seeks dis credit Bailey' statement. and intimate that Bailey interested in making a bad showing for the bank Ex City Treasurer Sprague. of Brooklyn arraigned to-day under four indict rd ments and his trial set for the 20th inst W John Oct. Mass LOWELL Pierce. Cashier of the Merchants' Na h tional Bank has been found guilty irregularities, according the other officers the bank to the extent of $50,000. Pierce also Treasurer of the Central Savings Bank. but that-institution said be right. Pierce resigned to-day and made transfer of his property for the benefit the bank CAMBRIDGE, III. Oct. The farmers wention comprised 238 Mr Sanford, of moved to seind the resolution of the last wherein to nominate county ticket to-day The chair decided the motion out of order. appeal taken, the chair was sustained by when some half dozen delegates with 1th drew The proceedings were harmonious A Denton was nominated for County Judge. Geo. M Stevens, for County Clerk Geo. S Elerent. for County Treasurer. ock Miss S. A Phelps, unanimously for Coun hu ty Superintendent of Schools. This ticket will be elected CINCINNATI, Oct. The Commercial eet. this morning publishes the results many interviews with leading manufactu various departme ents from which that the number of hands discharged here on account of the money stringency, been much over estimated The number ant is comparatively small. and most manufacturers express the hope that will go through without further reduction either force or time CHICAGO Oct. Judge Gary, of Superior Court of this city, made an portant ruling, vesterday in regard to suits for divorce. The custom heretofor Co. been refer such cases to the Master Chancery, to take the testimony and make a report, upon which decree was Judge Gary now rules against such refer ences, and announces that all such suits must be tried in open court ORN Judge Williams, of the Circuit Court day several appeal cases, affirmed decisions of the Justices, declaring valid the Sunday law prohibiting the sale liquor in the city on that day convention In the Republican county 0.. Springfield III.. yesterday, Miss Bell Lewwho was candidate for the nomina of County Superintendent of Schools, defeated. receiving 35 votes out of 88. ST. Louis.Oet 7. Nearly two thousand dollars in addition to the amount previous 'S ly reported have been subscribed for the Memphis sufferers and an active committe still working. The Odd Fellows an Masons have also sent handsome sums 3, be disbursed by their brethren in the afflie ted city. About seven thousand dollars money, clothing and provisions have beer ngs. sent to Shreveport and more is being con tributed. POTTSVILLE, Pa. Oct. 7 The firs S snow of the season fell here this morning FONDA, N. Y. Oct. -Snow fell her this morning. ASS KINGSTON

10. October 8, 1873 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, October 8, 1873

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THE FINANCIAL NEWS. The principal item of local interest is the announcement of the Third National Bank, that it will open its doors this morning at 10 o'clock, and rosumo its business as before suspension. It is said that the bank is now fully propared to meet all the demands that may be mado upon it. The other banks make a favorable report. In spite of the fact that there has boon a very large contraction in loans, the morcantile community experiences no bad results, and maturing commercial paper is paid much more promptly than the bankers had roason to expect. The clearings of the Chicago banks yesterday were about three times as large as thoso of the corresponding day last week. While this is partially explained by the fact that, at this time last week, checks were presented directly to the banka on which they wore drawn, and not deposited In other banks for collection, the largo difforenço indicates a return to the old line of business, which, in turn, means a restoration of confidence in all the banks in the ratio of increased clearances. The local grain market was somewhat loss active yesterday, but this is offset by the increased bouyancy in the Now York grain market, which will speedily exort a stimulating influonce upon the Chicago trade. Asido from this singlo feature, which is more in the Intorest of the West than of New York, the reports from the latter city are not CHpecially cheering. Though the loan-certificates are announced as having been reduced one-fifth, and as commanding a nominal premium over cortified checks, greenbacks are worth a premium of from % to 11/5 por cont, showing that the Now York banks are still cousiderably removed from a full rosumption. This premium on greenbacks is highor than it was on either Saturday or Monday, though the legal-tender circulation has been further inoreased e316,000. There wore various rumors of mercantilo failures in Now York yesterday,

11. October 9, 1873 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, October 9, 1873

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CHICAGO. Financial. CRICAGO October 8 - The financial sit uation in this city continues to improve The Third National Bank, which sue= pended nearly two weeks ago, reopened its doors this morning Its suspension was caused by inability to convert securities into currency at the time of the panic The bank is one of the strongest in the city and its resumption to-day has added materially to public confidence. There has been no rush during the day to draw money, but OB the contrary large sums were deposited All our banks are showing signs of daily increasing strength, and it is stated on the street confidentially that the Third National, which announced ité intention a week ago of going into voluntary liquidation, will soon resame. Anniversary of the Greas Fire. To-morrow being the second anniversary of the great fire, the acting Mayor has issued a proclamation rec" commending that to-morrow afternoon be observed as a half holiday in com. memoration of the extraordinary event Accordingly the postoffice and other public buildings will be closed at noon. The special interest of the day will centre on the Exposition, and arrangements are made by the managers to make the day a memorable one. As a majority of the railroads running into the city have announced the commutation of fare, a large number of excursionists from the north are expected.

12. October 9, 1873 Iowa Voter Knoxville, IA

Article from Iowa Voter, October 9, 1873

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body known as the "People's Party;" repudiates party fealty as a tyrannical rule, sinking the citizen to a servile partisan; condemning the system of using money corruptly in elections; condemning all political rings and cliques formed to control elections; pledging the party to civil-service reform and to resist all Credit-Mobilier contracts with finance companies; denounces the present system of the distribution of lands and grants of lands to railway and other corporations; opposes all kinds of subsidy by Federal, State, county or municipal governments; opposes the present tariffs; favors taxing solvent debts; favors the eight-hour law; opposed to Chinese immigration, and also opposed to the election of the President for more than one term of four years. The last resolution indorses the stand taken by Governor Booth in behalf of popular rights against the encroachments of politicians and railway corporations. A dispatch from Denver, Col., states that over two-thirds of the mining town of Fairplay, Col., had been consumed on the 26th. All the stores, printing offices, the United States land office, post office, express office, hotels and other business places, with two or three exceptions, had been utterly destroyed. The Right Rev. Geo. M. Randall, Episcopal Bishop of Colorado, New Mexico and Wyoming, died at Denver, Colorado, on the 28th, of typhoid pneumonia. The Third National Bank, of Chicago, closed its doors on the 27th. The Cook County National, one of the suspended banks of that city, had announced its resumption. The Manufacturers' and Second National banks had decided to go into liquidation. The Union National, the first of the Chicago banks that closed its doors, had announced its assets at $5,600,000, and its liabilities at $4,300,000, and given notice of its speedy resumption of business. The Clearing-House Association met on the evening of the 27th, and after an animated discussion resolved not to issue Clearing-House certificates. A dispatch from St. Louis of the 27th says that the rear wall of the five-story warehouse, on the corner of Second and Chestnut streets, had fallen, opening a gap in the building fifty feet wide from the ground to the roof. One man had been killed and two seriously injured. In Chicago, on the 29th, business had resumed very nearly its normal condition. Three of the suspended banks had resumed business and were receiving deposits and paying out on checks as before the panic. Over $3,000,000 currency had been received during the preceding forty-eight hours. Traffic had fallen off on the various lines of railroad, and a large number of trains had been drawn off, and many men discharged. A St. Louis dispatch of the 29th says that while Joseph H. Fore, who attempted to kill his wife, on the 4th of June last, was being tried in that city on the 29th for that offense, he threw a heavy cut glass inkstand at his wife as she was giving in her testimony. The missile missed her, but struck her counsel full in the forehead, inflicting an ugly and dangerous wound. At a late hour on the night of the 29th the Union National Bank of Chicago, which had resumed business on that morning, and during the day had paid out $400,000, decided to go into liquidation, under the provisions of Sec. 42 of the National Currency Act. A call has been issued for a Northwestern Farmers' Convention, to meet at Chicago on the 22d of October, to consist of delegates from Granges and farmers' organizations. In Chicago, on the 30th, matters had very nearly resumed their normal condition, so far as the banks were concerned. The effect of the late panic was just beginning to be felt by merchants and traders. Trade was unmistakably dull and collections difficult to be made. A Madison, Wisconsin, dispatch of the 1st announces that the Bank of Madison had failed. A dispatch from Springfield, III., of the 1st, says the Leland House of that city had been damaged by fire to the extent of $10,000.

13. October 9, 1873 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, October 9, 1873

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Financial Affairs. LONDON, Oct. 9-12.30 p. in.-At -- 12.15 o'clock the Bank of England Directors posted their card announcing that the expected change in the rate of discount had not been made. The rate for money at the Stock Exchange on Government securities is 24 per cent. NEW YORK, Oct --The National Trust Company, it is understood, has resumed business and is paying obligations. NEW YORK, Oct. .-Gold opened at 109. Some of the down town banks have virtually resumed payment of greenbacks. The manager of the Clearing House says that since the issue of loan certificates there has not bee 11 seen SO many greenbacksas were seen yesterday when the clearances were made. A Wall street bank president spoken to on the subject said he thought greenbacks had become sufficiently numerous to allow of such course being taken. In case, however, the pressure became too great the banks would no doubt fall back to the plan which has been followed during the past two weeks as a measure of safety. There seemed 00 reason, he said, why the payment of legal tenders should not go on; trade was prosperous. CHICAGO, Oct. 9.-The Third National Bauk, which suspended September 27th. resumed business yesterday with gratifying results to its officers. LONDON, Oct. 9.--Three thousand pounds of bullion were shipped from Liverpool to day per steamer Celtic. LONDON, Oct. 9--3.30 p. m. - -The bullion in the Bank of England has decreased 617,000 pounds during the past week. The amount gone into the Bank on balance to-day is 13,000 pounds. NEW YORK, Oct. 9.-It is understood that measures have been taken by the managers of the Umon Trust Company, whereby loans which were made to delinquent customers will be taken up and the company be enabled to resume business. NEW YORK, Oct. 9. - Forty thousand pounds sterling were received at assay office to-day total amount since Monday, 644,000 pounds. LOWELL, MASS., Oct. - -Pierce's defalcation is DOW stated by the Merchants' Bank officials at $63,000.

14. October 9, 1873 The Kenosha Telegraph Kenosha, WI

Article from The Kenosha Telegraph, October 9, 1873

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The third National Bank Chicago which suspended payment on the 27th., ultimo, reopened its doors and resumed business yesterday. The Third is one of the strongest banks in Chicago.

15. October 10, 1873 New-York Tribune New York, NY

Article from New-York Tribune, October 10, 1873

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the circumstances of the case, your Committee come to the conclusion that Mr. Bonner should be exonerated from any dishonorable act or intent. The rejection of the certified checks of the Bank of North America by other banks was a circumstance of which a business man, having reasonable consideration for his own safety and that of his payees, was, in the opinion of your Committee, bound to take cognizance. The fact that certified checks are recognized by the banks having an interchange of business, not as cash, but as paper for collection, imposes on the drawer the liability to meet his checks, subject to the chance of a satisfactory clearance. If he has sufficient notice that such clearance will probably not be effected, he should make the best provision he can to meet his checks. It is admitted by Mr. Donaldson that the Bank of North America could not, in any event, lose money by Mr. Bonner's transaction. He is grieved at Mr. Bonner's loss of confidence in his bank and not on account of any substantial danger. In the opinion of your Committee the urgency of the crisis was too great to admit of waiving caution in favor of sentiment. If the Bank of North America met its certifications, Mr. Bonner's money was forthcoming; but if it failed to do 80, Mr. Bonner and his payees would suffer substantial loss. If the Bank of North America has suffered in its business from the transactions of Saturday, your Committee think that this result is owing to the rejection of its checks by the associate banks; and if the bank has suffered during the existing crisis, it is no doubt a cause for legitimate regret; but, in the view of your Committee, it is one for which Mr. Bonner is not responsible. However the transactions of Saturday last may affect the future relations of Mr. Bonuer with the Bank of North America is a question exclusively confined to the two parties concerned, and is not within the scope of the present inquiry. A GOOD TONIC FOR TIMID MEN. The great house of H. B. Claflin & Co. do not, evidently, feel specially alarmed about the results of the late financial panic. The following fairly represents the general feeling among conservative business men that sound business is as safe now as ever, but that the days of kite-flying are over: We shall not only preserve," they write, " our stock of merchandise in full volume, but having taken advantage of the late situation, and purchased largely, we can offer you a more varied assortment than ever before. Congratulating you upon the general prosperity of the country in all its material industries, and the promise that it gives of a successful season in mercantile circles, we beg leave to subscribe ourselves," & FINANCIAL NOTES. The steamship Celtic, which left Liverpool yesterday for New-York, took £3,000 in specie. The Third National Bank of Chicago, which suspended Sept. 27, resumed business Wednesday, with gratifying results to the officers. Bashong & Bros., bankers at Reading, Penn., suspended yesterday. They will keep the bank open for the adjustment of accounts. Their assets will meet all liabilities.

16. October 10, 1873 Wilmington Daily Commercial Wilmington, DE

Article from Wilmington Daily Commercial, October 10, 1873

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Business and Commercial Items. -The banks of Augusta. Ga., have resumed payment. The receipts of cotton in Augusta are large, but money is still too scarce to move the crops. -The Third National Bank of Chicago, which suspended on the 27th ult., resumed business on Wednesday. -It is announced from Washington that the Treasury reserves are drawn upon only to pay the actual expenses of the Government, and the outstanding legal tenders will be reduced again to three hundred and fifty-six millions at the earliest possible momont-ti may be before the issue of the next debt statement" The draft on the reserves 18 caused by the smallness of the revenue receipts. -The Cincinnati Clearing House Association decided, yesterday, to retire enough of the certiticates issued to make the aggregata only $45.000, and to issue no more certificates. They al80 instructed their President to correspond with the Clearing Houses of other cities concerning the mode and time of currency resumption. -The Biltimore and Ohio Railroad Company announces a semi-annual dividend of 5 per cant on the main stem. payable November 15. and 5 per cent on the Washington Branch, payable October 31. -The amount of currency coming Eastward to the large cities from the West is said to be double the amount moving in an opposite direction. This, if true, will soon relieve the difli sulties experienced in all the Atlantic seaboard cities arising from a want of currency. --As an evidence of the stringency at New York one of the largest dry goods houses there offered by a circular to allow two per cent. a month discount on all notes due them for cash in band. As high as four per cent. a month was also paid.

17. October 10, 1873 The New York Herald New York, NY

Article from The New York Herald, October 10, 1873

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TELEGRAPHIC NEWS ITEMS. At the Fourth Judicial District Democratic Convention, in Saratoga, yesterday, Judge Jesse Gay, of Clinton, received the nomination. Bushong & Brothers, bankers, of Reading, Pa., suspended yesterday morning. They will keep their bank open for the adjustment of accounts. The Third National Bank, of Chicago, III., which suspended September 27, resumed business on Wednesday, with gratifying results to the officers. Joel Cook, Sr., aged eighty-two years, died in Philadelphia yesterday. He was at one time an Aiderman of Philadelphia from the Chestnut ward. The banks of Augusta, Ga., have resumed currency payments. There have been heavy receipts of cotton, but money is too scarce to move the crops. Chicago yesterday observed the second anniversary of the great confagration by a partial suspension of business and a liberal display of bunting. Joel L. Redner, an old and respected grain commission merchant, of Philadelphia, died in that city yesterday. The Corn Exchange Association passed resolutions of respect. The republicans of the Senatorial district composed of Dutchess and Columbia counties, N. Y., yesterday nominated John c. Hogeboom, of Hudson, for Senator, by acclamation. Captain Allen A. Cobb, of the schooner E. P. Furber, of Boston, died suddenly in Hampton Roads yesterday. He had been on board another vessel and took dinner, returned to his vessel at one o'clock, and died half an hour afterwards. The King of Norway and Sweden has presented Captain McLeod, of the ship Chili, of Yarmouth, N. S., through the Swedish Consul at Halifax, with a splendid telescope, suitably inscribed, for saving the crew of the Norwegian ship Byron, wrecked in December last. The different Posts of the Grand Army of the Republic, in Middlesex county, Mass., had a grand reunion and parade in Lowell yesterday. They appeared with full ranks. A dinner at Huntington Hall followed the parade. Many private and public buildings were decorated. The Conductors' Convention at Boston yesterday amended their bylaws so that no member of another insurance association could hold office in the Conductors' Association. and inability to ner-

18. October 11, 1873 The Dallas Weekly Herald Dallas, TX

Article from The Dallas Weekly Herald, October 11, 1873

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the question to emis determined ANNEVEPORT, grate to the Dave I nited October States en mussel Interments yesterday 12. 9. The October NN VILLE, Missons and thousand Odd Fellows dollars chur have Rein seven provisions to Memphis. was in money and October -There LATTLE Rock, frost last evening. another BAUTIMORE, heavy October -Patrick lawyer, Me- is Laughlin, a prominent dond. YORK, October 9.-The railroad sixth conNEW meeting insurance of the association the author ductor's report fifty-seven life deaths during one of year. Seever, of Jersey in City, New JerDiscol wealthiest capitalists a bankrupt. the been adjudged of the New with and Maryland it is York, Oswego His liabilities, sey, He has Vice President Railroad said, has Company will reach $8,000,000. 9.--Young LAKE, October of the Latter SALT elected President Day been Union ST. LOUIS, has gone Saints. October 9.-The into liquidaNational Bank by scarcity of currency. banks NEW resumed greenbacks tion, have caused virtually YORK, October report currency pay Home the Bankers understood that ments. quite plenty. Trust It Company is has resumed business. National CHICAGO, October resumed. 9.-The Third National Bank October has night. _There was Sister were fever. another MEMPHIS, heavy frost forty-one last interments; thirty-three There were a Dominican, yellow Academy, formerly is Joseph, Agnes Peter's Superior, Mary Father of St. O'Brien, of St. has tabasse dead. Church, WASHINGTONIVED is very low. October with p.--The Tak- the Polaris October 9.-Ten crew. SHREVEPORT, Adaline Field, Wardman, N. deaths to-day: Richard Book, Hi Bark, Sweitzer, F. Rev. FitMary Wright, Lelia W. Stewart, colored ran Sanders, J. Dan Brooks, trial of ther Lonesconoctober YORK, 9.-The The chaiNEW resumed to-day. entire array Stokes lenge of was the defense sustained to the although by the court. the jurors said faith, The was made rather than had been would challenge of counsel sustained, was yet that in withdraw. good thousand and delay the hundred trial he and been at pounds Six United sterling States have Assay office failed. since the Monday. Casavana & 9.--A Co. have brisk can- the Gibson, October by was kept up, MADRID, beseiging yesterday. Carthagena. from nonade force deserters the Republican the day ranks many came into During the insurgent veroment troops. The Board camp WASHINGTON of the who October9. investigated will make the of Examiners from the Polaris, the circum- beidefirst party eximination.casters into as will comstances an of the Buddington party, is not exfailed by the to-morrow. It be elicited, mencing that new facts will after the sepapected excepting ration of The Poluris crew occurrences not credit Hall. the The reports authori- of ties here play in do lie death October of 9.-The Total Genfoul YORK, of the Catholic resoeral Abstinence NEW Convention ympathy union the with to-day many the passed afflictions Holy also Fations ther at of Rome lately in experienced: the action of which he has condemning in expulsion orders. and Italy religious Germany and other showed Secretary's of a resolution Jenuits report condition. the The in a flattering of the Clearinghouse an opinThe could not be to-day when there as he banks union manager said he payments, would give resump- was tion jon as of to currency to admit currency that payments the to not prepared only refused LeThey had suspended have, legal he tenders says, and increasing checks. banks in out are rapidly and the the gal pay tenders banks of the legitimate city, demands upon pay them all regular session Association of the Evan- hall, of was relations gelical The devoted afternoon alliance, to of at the the the free church discussion to the 9.-Chaplain Henry the of October the United States Navy, is dead.

19. October 17, 1873 Dodgeville Chronicle Dodgeville, WI

Article from Dodgeville Chronicle, October 17, 1873

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the on work Canada Southern in had been Indiana, Northern the counties Sheriffs of taking through Railroad stopped which Itruns, Chicago of that city Journal of had the Bank According National opened says that in had finances 8th, the its Third doors dispatch again. of not the worked 8th The as Union satisfactorily had A St. Louis that city and that on day Bank decided to into go 8th the the says the for had Rock Island, erection military as of A. Ill., Miles, follows: Colonel the Wm. Colonel Fifth Infantry; of the Major Second Artillery; Rev. Judge E.C. Advocate of of the Wines, National of Prison Detroit. of City, Jersey Delos Culver, Thos. H. French, F. Barr, New York, R. Brockway, according of had the just He Strice-Presiof Raildent Midland Raw road liabilities aggregated $8,000,000. of 8th that says A New of for Fisk Stokes murder on day. of 9th that says rehis Treasure completed and the the transacport of of the the for tions fiscal Treasury National The 30, net 1873. year receipts of and by the repayments 669,221; of net same items, dis$524, were as cus981,0173 tributed toms, $113,revenue, $29, decreased 037,055. $28 since 250,00 and The 200,000. was about The of the net War Deand the Navy the for War $55,000,000, for the 000,000 Department for Navy diplomatic about $500,000, and have those fudiciary increased on the acabout the 945, count public of $345,555, last decrease against the The balance Treasury $131, June which 1873, differs the and from Register Secretary the fiscal fund, $161. of the during back year, king the pay, total receipts In from addition to on acfund this, this the count During $196,513. the year States United of The holds $114,307. from Banks, Treasurytation, $309,4 in of the first deposits a and deyear, item of The crease business of the National was Banks, A the of 9th, from of the the had been .bone says backof Rev. broken. Father Leasont of the had died, Bishop making of had the the who fifth been The number stricken of 9th the had been deaths had ten. The shown on the 9th little very OrNew from been of that city leans. had died of the that 9th New says and that by the NaThe to tional resume decided as 13th. low 108% of for The CazenGibson, T. ova who Irving, tive detects of Nathat than, the 9th, city that Bro., to had over to A 9th the the Associa of serves extent of the $3,000,000 T with The the been had New 10th, York of the was sold which gold, for the lowest the of 10th dispatch had theared appeared La., 10th. of the Iowa 10th on ed At over of hay, stock, cases, houses and A of the 11th tion was the by Martin Pomeroy as, F. on of of one The Kanlowing along walking and this New when Conway he him. When drew latter in sucquick but away, to was whom he "He that children, him. and Pomeroy, had was who assisted to when home, noned. chesicians to was ball On have mediatele and vest but shirt, passed its after penetrat it off ing by was triking of the Shooting that

20. July 16, 1899 The Morning News Savannah, GA

Article from The Morning News, July 16, 1899

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BANKING NI ROMANCE H STRANGE STORY OF A BANK THAT 'SLUMO SALI 1411 GXV Failure Turued to Wonderful SucV eess-How Col. Huntington W. Jackson Financed the Third National Bank of Chicago and Made Millions Out of Apparently Worth8801 Chicago, July M.-More than twenty years ago the Third National Bank of Chicago formally closed its doors and a receiver was appointed to satisfy the clamoring depositors. Some of the stockholders feared an immediate assessment for the payment of liabilities and offered to give their stock to anyone who would assume its obligations. To-day this stock is held at nearly double its par value; and it is regarded as "gilt-edged" security. Within five years, although the bank has received no deposits, made no loans, issued pied seq 11 dereis, ou plos ou two substantial dividends to its stockholders and promises many more. The very name of the bank has been forgotten except a few gray-headed men who are personally interested in its affairs, but it is even yet an important financial institution with its regular stockholders' meetings, its taxes, its law suits, its reports and its bookkeeping. Moreover, it is unique in being a corporation having large assets and no liabilities-beyond the obligation to its stockholders. All of the entries except driblets of expense, appear on the credit side of the ledger. The circumstances which led up to these pecullar, even unprecedented conditions, make a storv probably without parallel in he annals of national banking Prior to the panic of 1873 the Third National Bank ranked as one of the stanchest financial institutions in the West. It -IP pue 10 B pay rectory included some of the most prominent names in Chicago-such men as George M Pullman, J. Irving Pearce, JosHeader- "IN is H to HIDON qda son. R Steele, John H. Thompson, WilHam T Allen and S. S. Benjamin. Only up IT pepeeoxe and home su u! rueq auo -Isnq S11 JO the pue que:xe and SSDU When the financial crisis of 1873 was at its hight the Third National Bank suspended payment for a single week as a precaution against a threatened run. When " opened again and prepared 10 resume its old place in the business world. But a bank is like a man. It is trusted implicitly until it reveals some inherent weakness. After that its business friends watch it keenly and approve its methods with an "if" and its business enemies await the train which again shall test its surength The Third National Bank had the finest offices in Chicago, the largest force of clerks the longest list of country correstip state the peq 03[8 11 inq squapuods from the path of financial rectitude to live away Some of its officers, knowing the $11 maintain 01 effors tensnun 10 peau business supremacy, signed the bonds of the treasurer of Cook county, thereby recelving large deposits of the public mon ey to swell the quarterly reports. The bank JO depositor main our SB persodds 0820 a board of park commissioners of which its president had become the treasurer Other bankers, looking on, saw the signs inem. poolsrepan pus In 1873 the deposits exceeded $4,000,000, but in spite of all the bank could do, they kept creeping down and down until late in 1877 they were only $1,164,000. During most of this time the bank officers were firmly optimistic; they believed in the solidity and business worth of their queq In September, 1877. an extensive hotel property owned by President Pearce and one of the other diretors was destroyed by fire It had no connection with the bank and yet the bank felt the shock. A few weeks later President Pearce called on the New York correspondent of his bank and asked for a temporary loan to be used in case the heavy deposits of public money should be withdrawn suddenly The New York bank hesitated and hedged. If it were not for the large demands now being made as an incident to the hard times, and the uncertainty of the money market-and other circumstances that assist a bank president who does not wish to loan money-they might possibly spare a few hundred thousands. On President Pearce's return to Chicago he found that some of the directors of the bank had been touched with the growing distrust. They were losing confidence ability of their own bank to meet the demands which might be made upon it They had kept the feeling to themselves and yet, after the manner of such things it was all down the street in a single day, traveling by such secret ways as only an evil rumor knows. In spite of the loss of confidence there SII bank. the no una Tenner ou SBA business was conducted by the usual number of clerks and its mail had not diminperioddns pue dn personq SUM 11 by the eputation of substantial prosperIty and dignity which it had known in the past and yet it was suffering from B SE insuciers 01 umoux disease supsem 8 "vest pocket run." Depositors came smilwas ingly not and drew out their money, and it replaced

21. July 23, 1899 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, July 23, 1899

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BANK DEFUNCT FOR TWENTY YEARS DAYS DEBTS AND LARGE DIVIDENDS. Wheat fell 2 cents, pork 10 cents, and ORE than twenty years ago the the markets in the Board of Trade closed Third National Bank of Chicago weak. formally closed its doors and The earliest report on the condition of a receiver was appointed. ToM the bank, made by Colonel Huntington W. day this stock is held at public money should be withdrawn suddenly, and the New York bank hesitated nearly double its par value; and it is and hedged. regarded as "gilt-edged" security. WithOn President Pearce's return to Chicago in five years, although the bank has rehe found that some of the directors of the ceived no deposits, made no loans, issued bank were losing confidence in its ability no currency, sold no drafts, it has paid to meet the demands which might be two substantial dividends to its stockholders and promises many more. Moremade upon it. over. it is unique in being a corporation In spite of the loss of confidence, there having large assets and no liabilitieswas no regular run on the bank, and yet beyond the obligation to its stockholders. it was suffering from a wasting disease The circumstances which led up to known to financiers as a "vest pocket these peculiar, even unprecedented conrun." Depositors drew out their money ditions, make a story probably without and it was not replaced. A St. Louis paper parallel in the annals of national bankprinted a brief telegram hinting at the ing. condition of the bank and every mail Prior to the panic of 1873 the Third Nabrought drafts that helped to drain its tional Bank ranked as one of the stanchreserve. est financial institutions in the West. It One day the County Treasurer gave had a capitalization of $750,000 and its dinotice that he would want a half million rectory included some of the most promdollars. He was very agreeable about it, inent names in Chicago-such men as but he must have the money. He, too, George M. Pullman, J. Irving Pearce, Johad heard the rumors and he must protect seph Medill, C. H. Curtis, C. M. Henderhimself. son, C. R. Steele, John H. Thompson, William T. Allen and S. S. Benjamin. A half-million dollars is a very large When the financial crisis of 1873 was at sum of money to ask instantly from any its height the Third National Bank susbank's reserve cash. The officers of the pended payment for a single week as a Third National Bank ran here and there precaution against a threatened run. for help, thereby spreading the odium of Then it opened again and prepared to retheir distress. The First National Bank, sume its old place in the business world. fearing a general financial disaster, But a bank is like a man. It is trusted agreed to lend a helping hand if the implicitly until it reveals some inherent Union National Bank would do the same. weakness. The Union National Bank, after questionThe Third National Bank had the finest ing and delaying, agreed by its president, officers in Chicago, the largest force of W. F. Coolbaugh, to advance $300,000 in clerks, the longest list of country correcase of emergency. With this money and spondents, but it also had the single slip other promised assistance, President from the path of financial rectitude to Pearce was sure that he could make his live away. Some of its officers, knowing bank stand any strain. The First Nathe need of unusual efforts to maintain tional Bank was ready to do anything in its business supremacy, signed the bonds its power-it only awaited a formal reof the Treasurer of Cook County, thereby quest. Other banks also expressed their receiving large deposits of the public friendliness. money to swell the quarterly reports. The bank also appeared as the main deposiOne hundred and fifty thousand dollars tory of a Board of Park Commissioners, of the borrowed money was to be delivof which its president had become the ered on November 14. That morning Prestreasurer. Other bankers. looking on, saw ident Coolbaugh was found dead at the the signs and understood them. foot of the Douglas monument with a bulIn 1873 the deposits exceeded $4,000,000, let hole in his temple. His bank, fearing but they kept creeping down until late in for its own safety, refused to advance the 1877 they were only $1,164,000. promised money. The First National In September, 1877. an extensive hotel Bank followed its example. New York long property owned by President Pearce and since had refused a friendly hand-and one of the other directors was destroyed the Third National Bank found itself by fire. It had no connection with the deeper than ever in the meshes of misbank, and yet the bank felt the shock. fortune. A few weeks later President Pearce called About this time the Park Commissionon the New York correspondent of his ers discovered suddenly that there was a bank and asked for a temporary loan to large block of bonds not yet due which be used in case the heavy deposits of they could pay: Of course they wished to the next morning this epitaph appeared save the interest-and they withdrew on the bank door: more than $200,000 all in one day. On October 1 the bank had cash reTHIS BANK IS CLOSED. sources amounting to $966,530 with total