Evanston National Bank (Evanston, IL)

Episode Information

Episode UID
476701121
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
47670 national
Charter Number
4767
Start Date
May 18, 1893
Location
Evanston, Illinois (42.041, -87.690)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9f1569cdb28783f8

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
73.3%
Date receivership started
1893-06-07
Date receivership terminated
1897-04-03
OCC cause of failure
Excessive lending
Share of assets assessed as good
25.1%
Share of assets assessed as doubtful
47.3%
Share of assets assessed as worthless
27.7%

Description

Initially announced to reopen in three days, but a receiver was appointed weeks later.

Events (5)

1. June 29, 1892 Chartered
Source
historical_nic
2. May 18, 1893 Run
Cause
Correspondent
Cause Details
Heavy withdrawals triggered by the failure of Chemical National (a correspondent) and general money-market stringency; president's poor lumber/speculation losses also noted.
Measures
Directors posted notice that depositors would be paid in full and announced plans to resume in three days.
Newspaper Excerpt
The reasons given for the suspension are heavy withdrawals and the stringency of the money market.
Source
newspapers
3. May 18, 1893 Suspension
Cause
Correspondent
Cause Details
Closed at suggestion of National Bank Examiner after heavy withdrawals tied to Chemical National failure and strained liquidity.
Newspaper Excerpt
Owing to heavy drains made upon our deposits and the stringency of the money market this bank suspends payment.
Source
newspapers
4. June 7, 1893 Receivership
Source
historical_nic
5. June 7, 1893 Receivership
Newspaper Excerpt
Comptroller Eckels to day appointed Charles S. Winslow receiver of the Evanston National Bank of Evanston, Illinois.
Source
newspapers

Newspaper Articles (22)

Article from Asheville Daily Citizen, May 18, 1893

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BANK TROUBLES A Temporary Suspension in Evanston, Kl1-Wound Up. EVANSTON, May 18.-The Evanston National bank closed its doors this morning ut the suggestion of National Bank Examiner Geo. B. Caldwell. The reasons given for the suspension are heavy withdrawals and the stringency of,the money market. The depositors will be paid in full and the bank will reopen in three days. LONDON, May 18.-The court has granted au order for the winding up of the Commercial bank of Australialia, which suspended April 4th, will total deposits of oyer $60,000,000. BRUNSWICK, Ga., May 18.-The Trust National bank and the Oglethorpe National bank closed their doors this morning. M. Ulman, president of the latter bank, committed suicide. These banks have been looked upon as shaky for some time. LONDON, May 18.-TheSbank of England has advanced the rate discount from 31/2 to 4.


Article from The Wichita Daily Eagle, May 19, 1893

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FAILURES. LINCOLN, Neb., May 8.-The Nebraska Savings bank is in trouble. For several days there has been a run on the institution, which today assumed extensive proportions. The clearing house was called on for assistance and responded promptly. The bank is confident that it will weather the storm. The bank has a capital of $850,000 and the deposits amount to $450,000. CHICAGO, May 18. - The Evanston National bank of Evanston, Ills., closed its doors this morning, at the suggestion of National Bank Examiner George B. Atwell, who, after a day's work upon the books of the bank, met the directors at a meeting in the bank last revening. The capital stock of the bank is $100,000. It did business with the broken Chemical National. The directors announce that they will resume in three days. CHICAGO, May 18.-About 600,000 bushels of corn were reported sold out on change today for N. H. Arren & Co. The concern claims to be solvent, but its accounts are tied up in such shape by the Columbia bank failure that it has uo opportunity to carry on business.


Article from The Indianapolis Journal, May 19, 1893

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Other Business Troubles. CHICAGO, May 18.-The firm of N. H. Warren & Co. closed all its deals on the Board of Trade to-day. It is estimated that 600,000 bushels of corn were sold out on the firm's account. Nathan Warren attributes the suspension to the tying up of his money in the defunct Columbia National Bank. Mr. Warren says that he expects to come out all right. He claims that there 16 enough grain on the road to pay all his margins. The firm, it is said, was nipped somewhat at the time of the Deacon White failure. CHICAGO, May 18.-The Evanston National Bank, of Evanston, Ill., closed its doors, this morning, at the suggestion of National Bank Examiner George Caldwell, who, after a day's work upon the books of the bank. met the directors last evening. The capital stock of the bank 18 $100,000. It did business with the Chemical National. The directors announced that they will resume in three days. PHILADELPHIA, May 18.-Execution upon a judgment for $39,230 was sued yesterday against Edwin J. and Charles F. Howlett, trading as J: Howlett & Sons, paper bag manufacturers. A statement from the firm cannot be obtained.


Article from The Helena Independent, May 19, 1893

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BLEW OUT HIS BRAINS. A Bank President So Starts n Run and Neveral Failures. BRUNSWICK, Ga., May 18.-M. Ullman. president of the Oglethorpe National bank. mmitted suicide in the toilet room of the bank this morning. Besides being president of the Ogiethorpe bank. he was president of the Brunswick Brewing and Ice company and the line of river steamers. and a large stakeholder in various enterprises. President Burthage, of the First National bank, requested Ullman to repay a loan made the day before. "All right, wait a moment." said Ullman, stepping into the toilet room. In a moment Burthage heard a report. Ullman was found sitting upright with a bullet hole in the center of his forehead, The nows spread rapidly and the depositors started a run. In a few minutes the Oglethorpe National bank closed its doors, followed almost immediately by the First National bank. A slight run commenced on the Brnnswick State bank, but it met all demands. Mayor & Ullman, wholesale grocers, closed temporarily. The Brunswick brewery and the Brunewick cotton factory will also close temporarily. The Oglethorpe bank was capitalized nt $150,000 and the First National at $200,000. The officers of both banks say the claims will be paid in full. LINCOLN, May 18.-The Nebraska Savings bank is in trouble. For several days there has been a quiet run on this institution, which to-day assumed extensive proportions. The clearing house was called on for assistance, responded promptly. The officials are confident the bank will weather the storm. It has a capital of $250,000; deposits $150,000. CHICAGO, May 18.-The Evanston National bank. of Evanston, III., closed its doors to. day at the suggestion of the bank examiner. The bank has a capital stock of $100,000, and did business with the broken Chemical National, of this city. A notice on the bank door saya the depositors will be paid in full, and it is said the bank will resume next week. LONDON, May 18.-Stocks opened steady in consequence of the better feeling abroad, and closed firm. but without decided buoyancy. While there WHE an absence of gloomy rumors, a cloud of doubt seemed to overhang the situation respecting several firms which had been temporarily assisted. Operations were very cautions, under the suspicion that the recovery in the market of might only be temporary. The Bank England rate of discount has been advanced to four per cent, the highest for some time.


Article from Waterbury Evening Democrat, May 19, 1893

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ILLINOIS BANK FAILS The National, of Evanston, Forced to Suspend Payment. EVANSTON, Ill., May 19.-The Evanston National Bank of this city closed its doors at 10 a. m. at the suggestion of National Bank Examiner Geo. B. Caldwell. The bank formerly did business with the Chemical Bank of Chicago, but after the failure of that institution it transferred its accounts to the Metropolitan National Bank of Chicago. The reasons for the suspension are heavy withdrawals and the stringency of the money market. All the men connected with the bank declare that depositors will be paid in full, and that the bank will reopen in three days. The capital stock of the institution is $100,000.


Article from New-York Tribune, May 19, 1893

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ANOTHER WESTERN BANK GOES DOWN. THE EVANSTON NATIONAL OF ILLINOIS CLOSED -GRAIN DEALER'S IN TROUBLE. Chicago, May 18 (Special).-Some more of the aftermath of the Chemical and Columbia National Bank failures came to the surface 10-day. The Evanston National Bank, of Evanston, which did business with the Chemical, falled to open this morning, the following notice, signed by Henry Wells, the president. being posted on the door: "Owing to heavy drains made upon our deposits and the stringency of the money market this bank suspends payment. Depositors will be paid in full." All the men connected with the bank declare that depositors will be paid in full and that the bank will reopen in three days. The capital stock of the institution is $100,000. The last public statement was made March 6, when the amount of deposits was given รกs $161,023 81 Since that time, however, the bank has been in bad standing. and depositors have gradually drawn out. Since Monday the bank. paper has not been accepted by the Chicago Clearing House. Rumors of the shakiness of the bank have been current for the last week or so. The concern cleared through the Chemical National until that bank falled. Then the officials of the Evanston Bank requested the privilege of clearing through the Metropolitan Bank, which consented to pay their checks as long as they kept enough money at the Metropolitan to cover all claims. Yesterday their deposit became exhausted and the local bank refused to honor any more of the Evanston Bank's checks. Bank Examiner Caldwell was seen In regard to the cause of the suspension and gave the following statement: "I received orders yesterday from Washington to examine the bank and did so. On reporting Its condition to Controller Eckels, I received orders to close the bank at once. The bank was suffering from a run and did not have the money on hand to pay out. As matters stand. there is $60,000 in deposits unpaid. I see no reason, so far, for depositors not being paid In full." N. A. Hill, vice-pre-ident, attributed the sudden run the failure of the Chemical at Chicago. "We did not to lose much by that failure, but It was known here that the Chemical was our correspondent," said he. This scared depositors and they began drawing out money faster than we could realize on our securities." "Was there no other reason for the run ?" Hill was asked. After some hesitation he replied: "Well, I suppose our president's trouble with a number of lumber deals he was in hastened matters. He was a heavy loser by the failure of the Cafro Lumber Company. and was also a loser in several other lumber failures. These matters became noised about and the run began." Among the business men about town the suspension is thought to have been caused by poor financiering methods. This afternoon the Board of Trade firm of N. 11. Warren & Co. closed Its deals. The firm has been on the bull side of corn for a long time-in fact, ever since the market was in the 50s-and the drop since has been rapidly exhausting its ready means. The crowning trouble was the fact that their funds were locked up in the Columbia Bank. As the firm was not in a position to respond to additional calls, those having trades with it deemed it predent to close them out. So at the start there was free selling for this account, and July touched 42 cents. About 600,000 bushels were closed out on the firm's account. The failure-If such it may be calledproduced very little excitement.


Article from The Advocate and Topeka Tribune, May 24, 1893

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000 bushels of corn was reported sold out on 'change to-day for N. W. Harris & Co. The concern claims to be solvent, but its accounts are held up in such shape by the Columbian bank failure as to leave no opportunity to carry on business. SAVANNAH, GA., May 18.-Dispatchee from Brunswick, Ga., state that the First National bank and the Oglethorpe National bank of that city closed their doors this morning, and that M. Ulman, president of the latter, committed suicide. These banks have been looked upon as shaky for some time. CHICAGO, May 18.-The Evanston National bank, of Evanston, Ill., closed its doors this morning at the suggestion of National Bank Examiner George B. Caldwell, who, after a day's work upon the books of the bank, met the directors at 8 meeting in the bank last evening. The capital stock of the bank is $100,000. It did business with the broken Chemical National. The directors announce they will resume in three days. MINNEAPOLIS, May 20.-The Northwestern Guarantee Company, which has been in an embarrassed condition for some time, went into the Hands of a receiver this afternoon. the Minneapolis Trust Company being appointed the receiver. NEW YORK, May 20.-The Archer & Pancoast Manufacturing Company, manufacturers of gas fixtures, was placed in the hands of receivers today. The liabilities will, not exceed $1,000,000. Its paper sold largely in Philadelphia and was endorsed by Clement M. Biddle & Co. Its paper was also held by banks in this city. The failure is attributed to the stringent money market. The company is probably the largest of the kind in the United States. The attorneys for the company say it is only a temporary embarrassment, and that the assets largely exceed the liabilities. The trouble is the assets are not available.


Article from Watertown Republican, May 24, 1893

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EVANSTON BANK FAILS. Payment Suspended on Advice of a Government Examiner. CHICAGO, Ill., May 18.-The Evanston National Bank, of Evanston, Ill., closed its doors this morning at the suggestion of National Bank Examiner George B. Caldwell, who after a day's work upon the books of the bank met the directors at a meeting in the bank last evening. The capital stock of the bank is $100,000. It did business with the broken Chemical National Bank. When the bank's patrons went to the building this morning they found the following upon the doors: Owing to heavy drawings and the stringency of the money market this bank suspends payment. Depositors will be paid in full. HENRY WELLS, President. The bank examiner says: "I found that the accounts were in such shape that I would have to take at least three days to get to the bottom of things and when the directors met last evening, I suggested that the bank be closed and this was done." The directors announce that they will resume in three days.


Article from The State Republican, May 25, 1893

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WEST AND SOUTH. IN Chicot county, Ark., 100 feet of levee near Grand Lake collapsed, flooding many plantations and causing immense loss. AT Conneaut, O., the tug Continental and scow were washed out into the lake and foundered and seven men and two women who were on board were drowned. NEGROES lynched Will Neal (colored) near Williamsville, Miss., for assaulting the 6-year-old daughter of Jackson Conly, also colored. WHILEON his way from Smyrna, Mich., to Bowling Green, O., Charles R. Griner, a timber buyer, was waylaid and robbed of $1,200. THE Charles Pope Glucose company's factory at Geneva, Ill., blew up, wrecking the building and killing seven workmen and terribly injuring four other men. The property loss was $150,000. JOHN JOHNSON. Albert Currier, Nicho las Servas and Chester Simons, mem bers of the life-saving crew at Cleveland O., were drowned by the capsizing of their boat while attempting to rescue two drowning men. AT Keytesville, Mo., William Morris shot his wife and then took his own life. Jealously was the cause. THE doors of the Citizens' bank of Minneapolis, with a capital of $250,000, were closed, and the Bank of Zumbrota, at Zumbrota, Minn., suspended payment. CHIEFS of police of many cities met in Chicago and organized a national union with W. S. Seavey, of Omaha, as president. THE wife of Michael Bierge, a wealthy farmer residing near Barnard, Mo., suddenly became insane and killed her 5months-old bab and cut her own throat, dying instantly. THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150,000 and $200,000, will now be divided according to law. REPRESENTATIVE negroes of South Carolina met in Columbia and adopted resolutions in which lynching was condemned and an appeal made to the humane people of the state to aid them in suppressing any attempt to violate the law by lynching. THE Brunswick national bank and Oglethorpe national bank, by be my Brunswick, Ga., suspended, and Mounman, president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) na tional bank, with a capital of $100,000, were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland, O., were damaged to the extent of $150,000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago.


Article from Barton County Democrat, May 25, 1893

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BY the capsizing of a tug and dredge boat on Lake Conneaut, O., five persons were drowned. WARREN & Co, of the Chicago board of trade, have assigned. FIRE at Starbuck, Wash., destroyed the Union Pacific car and machine shops, nineteen locomotives and all other railroad property except the coal bunkers. Loss, $300,000. THE Spanish steamer bearing the Infanta Eulalie arrived at quarantine on the 18th. THE Santa Fe wants a return rate of $16.50 to the world's fair from Missouri river points. A SCHEME has been completed for the slaughter of cattle in New York on western packing house plans. THE premier of South Australia reports financial matters all right and harvest prospects excellent. THE failure of the First National bank at Cedar Falls, Ia., shows peculiar transactions. THE National bank of Evanston failed, causing great excitement in that suburb of Chicago. LAWSON RUNYON, a prominent Cherokee, was shot and killed by ex-Deputy United States Marshal Creekmoor. A BRAKEMAN and three workmen were killed by a runaway train at Dubois, Pa. BEFORE the Crescent City club at New Orleans Billy McCarthy, the Australian, knocked out La Blanche, the marine, in sixteen rounds. A FIRE at Trondhjem, Norway, resulted in the loss of a number of lives. Four persons were killed while jumping from a burning building and three women and two children were burned to death in the flames. AT Ilmenau, Saxe-Weimar, the boiler of a locomotive exploded, killing five S persons instantly and injuring a number of others so seriously that eight of them were dying. CLEARING house returns for the week ended May 18 showed an average decrease of 1.2 compared with the corresponding week of last year. In New York the decrease was 6.4. J. A. R. ELLIOTT, of Kansas City, Mo., captured the Missouri state trophy as 1 the champion wing shot in the state tournament. He killed thirty straight birds. : JUDGE RICKS, at Cleveland, O., appointed a receiver for the Clover Leafthe Toledo, Kansas City & St. Louis railway. I FROM indisputable sources it is learned that Erastus Wiman's total liabilities will aggregate about $617,000, a 5 little more or less, according to whether f certain contingent debts are counted 1 in. BLONDIN, the strong man with Cole's 1 circus, undertook to hold a powerful team of horses together at Lake Placid, S N. Y. Several blood-vessels in the man's head and chest were ruptured and he died. THERE is great excitement in Normal, Ill., over the failure of the Exchange bank of that city, and the president has 1 been arrested for receiving deposits 1 after he knew the bank was insolvent. THE plate glass trust is an assured fact. IT is said that a mistake has been f made by the interior department in referring back to the Cherokees the matter of to whom the seventy allotments b shall be made in the strip. A COMPANY is being formed to build a railway from Bowie, Tex., to the City of Mexico. IT is conceded that Collector Wenneker, of St. Louis, will be dismissed as soon as his successor can be decided on. : THE Russian cruiser Vitiaz is a total a loss on the coast of Corea. The report y states that all hands were saved. e NINE young men have been arrested s for distributing boycotting circulars against the firm of Diel & Bro., gents' s furnishings, St. Louis. di A WASHINGTON florist has offered $500 k for the first Isabella souvenir quarter. THE controversy between Benjamin Feuchts and eight other members of r the Economite society and Trustee John S. Duss has come to an end by an amicable settlement, by which the contest1 ants will withdraw from the society. MONCHICOURT, the Panama liquidator, , has commenced suit against M. Imbert, the administrator of Baron Reinach's fortune, to recover 9,000,000 francs, which it is alleged Reinach received e from the company. g ADDITIONAL DISPATCHES. Mo. e was as of WALTER honored WILLIAMS, by election of Columbia, president the National Editorial association at


Article from The Worthington Advance, May 25, 1893

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THE doors of the Citizens' bank of Minneapolis, with a capital of $250,000, were closed, and the Bank of Zumbrota, at Zumbrota, Minn., suspended payment. CHIEFS of police of many cities met in Chicago and organized a national union with W. S. Seavey, of Omaha, as president. THE wife of Michael Bierge, a wealthy farmer residing near Barnard, Mo., suddenly became insane and killed her 5months-old babe and cut her own throat, dying instantly. THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150,000 and $200,000, will now be divided according to law. REPRESENTATIVE negroes of South Carolina met in Columbia and adopted resolutions in which lynching was condemned and an appeal made to the humane people of the state to aid them in suppressing any attempt to violate the law by lynching. THE Brunswick national bank and Oglethorpe national bank, both of Brunswick, Ga., suspended, and M. Ullman, president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) national bank, with a capital of $100,000, were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland, O., were damaged to the extent of $150,000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago. FREDERICK C. SCHENCK, for seventeen years consul to Barcelona, Spain, beginning in Hayes' administration, died at Lafayette, Ind., aged 53 years. THE death of James E. Murdoch, the famous tragedian, aged 83 years, occurred at his suburban home near Cincinnati of various ailments combined with old age. IN session in St. Paul the international convention of press clubs elected John A. Cockerell, of New York, as president. It was decided to establish a home for aged and infirm journalists. AT Bellaire, o., Ethelinda Mayhue has brought suit for divorce against Oliver Mayhue, a grocer. They were married April 20, 1854, and have fourteen children. Cruelty was the charge. THE directory of the world's fair adopted a rule that for the future all children under 12 and over 6 years of age will be admitted to the fair for twenty-five cents. IN the southeastern Kansas coal fields 5,000 miners struck for higher wages. FIRE suffocated twenty-five horses belonging to the People's Outfitting company in Chicago.


Article from River Falls Journal, May 25, 1893

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THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150,000 and $200,000, will now be divided according to law. THE Brunswick national bank and Oglethorpe national bank, both of Brunswick, Ga., suspended, and M. Ullman, president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) national bank, with a capital of $100,000, were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland, O., were damaged to the extent of $150,000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago. FREDERICK C. SCHENCK, for seventeen years consul to Barcelona, Spain, beginning in Hayes' administration, died at Lafayette, Ind., aged 53 years. THE death of James E. Murdoch, the famous tragedian, aged 83 years, occurred at his suburban home near Cineinnati of various ailments combined with old age. IN session in St. Paul the international convention of press clubs elected John A. Cockerell, of New York, as president. It was decided to establish a home for aged and infirm journalists. AT Bellaire, O., Ethelinda Mayhue has brought suit for divorce against Oliver Mayhue, a grocer. They were married April 20, 1854, and have fourteen children. Cruelty was the charge. THE directory of the world's fair adopted a rule that for the future all children under 12 and over 6 years of age will be admitted to the fair for twenty-five cents. IN the southeastern Kansas coal fields 5,000 miners struck for higher wages. FIRE suffocated twenty-five horses belonging to the People's Outfitting company in Chicago. FIVE distilleries withdrew from the whisky trust and the monopoly was said to be on the verge of dissolution. The headquarters are at Peoria, III. IN St. Louis the stable of the Crum Livery company was destroyed by fire and 150 horses were burned to death and Eddie Quinn, a 7-year-old boy, lost his life in the flames. The total loss was $200,000. A FOREST fire wiped out the town of Bryant. Wis., not a single house of any description being left to mark the town site. No lives were lost. FLAMES destroyed Meed's sawmill, planing mill, boarding house and thirty or forty residences in the south part of Antigo, Wis., the loss being $100,000. FLAMES that started in the mill property of Sample & Cump in Saginaw, Mich., burned a district a mile in length and four or five blocks wide, destroying 275 buildings and other property, the total loss being $900,000; insurance, $600,000. Robert Turner, aged 89. lost his life, and several other persons were injured. AT the National Editorial association in Chicago Walter Williams, of Columbia, Mo., was elected president for the ensuing year. A CONCERT of sacred music closed the Woman's World's Fair Auxiliary congress. No less than twentysix nations and 110 women's organizations were represented in the congress, and every line of woman's work, from household economy to woman in national politics, was discussed. THE forest fires raging in Michigan reached Louis Sand's lumber campnear Lake City and resulted in burning to death eleven men. DOMESTIC trouble caused George Lankford to shoot and instantly kill his wife at Marietta, O., and then to kill himself.


Article from Eagle River Review, May 25, 1893

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EVANSTON BANK FAILS. Payment Suspended on Advice of a Government Examiner. CHICAGO, Ill., May 18.-The Evanston National Bank, of Evanston, Ill., closed its doors this morning at the suggestion of National Bank Examiner George B. Caldwell, who after a day's work upon the books of the bank met the directors at a meeting in the bank last evening. The capital stock of the bank is $100,000. It did business with the broken Chemical National Bank. When the bank's patrons went to the building this morning they found the following upon the doors: Owing to heavy drawings and the stringency of the money market this bank suspends payment. Depositors will be paid in full. HENRY WELLS, President. The bank examiner says: "I found that the accounts were in such shape that I would have to take at least three days to get to the bottom of things and when the directors met last evening, I suggested that the bank be closed and this was done." The directors announce that they will resume in three days.


Article from The Comet, May 25, 1893

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ECKELS ON RECENT FAILURES. Bad Muaagement and Speculation Caused the Natioal Banks to Suspend. Washington, May22.-I asked Comp. troller of the Currency Eckels to-day if the recent bank failure were attributed to the present condition of the country's finances. "I do not think so," replied Mr. Eckels. "The failures that have occurred have been brouht on by bad management and speculation out of the 3,800 national banks there have been only seven failures-two in Chicago, one at Cedar Falls, Iowa; one at Evanston, III, ; one at Indianapolis, and two in Brunswick, Ga. That is a very small percentage to cover SO wide a territory. "The Chemical of Chicago failed through bad management, while the Columbia Bank of Nashville, Tenn.. was a sort of kiting institution. The Cedar Falls bank failed because the officers attempted to run a stock farm at the expense of the bank. The Evanston bank failed because its president did not conductitproperly. The Indianapolis bank broke out of sympathy, so to speak, with the Calumbia. The two banks in Georgia were owned by the same persons, and it seems there was too much speculating going on there. There was' a "boom" at Brunswick, and the banks got into it very deeply.


Article from The Iola Register, May 26, 1893

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LIZZIE BOLT, the woman accused of the murder of Detective Lowenstein, at Cincinnati, was acquitted. She was indicted for murder in the first degree, but the court ordered the jury to return a verdict of not guilty. Thus the tragedy goes down as a suicide. Lowenstein was found dead in his room with a bullet-hole in his head. The Bolt woman was his mistress. THE local directory of the world's fair decided to open all portions of the fair on Sundays and return the conditional grant of $2,500,000 to the government A COMPROMISE has been effected between the imprisoned St. Clair county, Mo., judges and the bondholders at 50 cents on the dollar at 4 per cent. interest. This makes the debt $400,000 with $16,000 annual interest. BY the capsizing of a tug and dredge boat on Lake Conneaut, O., five persons were drowned. THE world's fair continues to be short of funds. The running expenses are $45,000 daily. The pay of janitors and helpers has been long overdue. THE First National bank, of Cedar Falls, Ia., has failed. HUGH ADAMS, aged 85, has sued his wife, aged 62, at Martinsville, Ind., for divorce. SCHUREMAN'S private bank at Normal, III., has closed. IT is said that ex-Secretary John W. Noble will soon take up his residence in Oklahoma having in view his elevation to the United States senate when the territory is admitted to statehood. THE government commission has been inspecting the work on the Missouri river in the vicinity of Kansas City. ONE phase of the Sunday opening of the world's fair is that the directors believe that it will entail financial loss rather than gain as is generally supposed. THERE is some talk of the Chemical National Bank of Chicago resuming. THE C., B. & Q. directors have been re-elected WARREN & Co., of the Chicago board of trade, have assigned. FIRE at Starbuck, Wash., destroyed the Union Pacific car and machine shops, nineteen locomotives and all other railroad property except the coal bunkers. Loss, $300,000. Ex-SENATOR VAN WYCK, of Nebraska, suffered a stroke of paralysis which may result fatally. THE Santa Fe wants a return rate of $16.50 to the world's fair from Missouri river points. THE failure of the First National bank at Cedar Falls, Ia.. shows peculiar transactions. THE National bank of Evanston failed, causing great excitement in that suburb of Chicago. LAWSON RUNYON, a prominent Cherokee. was shot and killed by ex-Deputy United States Marshal Creekmoor. CHARLES H. JONES, editor .of the St. Louis Republic, has resigned his office to Charles W. Knapp, president and publisher, though still retaining his interest in the paper. THE Oakland, Cal., ferryboat Bay City ran a containing down and all rowboat drowned. five persons were A DAM restraining the water of Lakes Ida and Milton, in Minnesota, broke and a large area of land was flooded with the escaping water. NINE young men have been arrested for distributing boycotting circulars against the firm of Diel & Bro., gents' furnishings, St. Louis. JAMES E. MURDOCK, the well known tragedian and teacher of elocution, died at Cincinnati on the 19th. He was 83 years of age. R. ELLIOTT, of Kansas City, Mo., captured the Missouri state trophy as the champion wing shot in the state tournament. He killed thirty straight birds. JUDGE RICKS, at Cleveland, O., appointed a receiver for the Clover Leafthe Toledo, Kansas City & St. Louis railway. THERE is great excitement in Normal, III., over the failure of the Exchange bank of that city, and the president has been arrested for receiving deposits after he knew the bank was insolvent.


Article from The Kinsley Graphic, May 26, 1893

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THE WEST THE National bank of Evanston failed, causing great excitement in that suburb of Chicago. THE world's fair continues to be short of funds. The running expenses are $45,000 daily. The pay of janitors and helpers has been long overdue. HUGH ADAMS, aged 85, has sued his wife, aged 62, at Martinsville, Ind., for divorce. THE government commission has been inspecting the work on the Missouri river in the vicinity of Kansas City. IT is said that ex-Secretary John W. Noble will soon take up his residence in Oklahoma having in view his elevation to the United States senate when the territory is admitted to statehood. SCHUREMAN'S private bank at Normal, III., has closed. THERE is some talk of the Chemical National Bank of Chicago resuming. FIRE at Starbuck, Wash., destroyed the Union Pacific car and machine shops, nineteen locomotives and all other railrcad property except the coal bunkers. Loss, $300,000. THE C., B. & Q. directors have been re-elected. WARREN & Co., of the Chicago board of trade, have assigned. Ex-SENATOR VAN WYCK, of Nebraska, suffered a stroke of paralysis which may result fatelly. THE Santa Fe wants a return rate of $16.50 to the world's fair from Missouri river points.


Article from Macon Beacon, May 27, 1893

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MISCELLANEOUS. THE premier of South Australia reports financial matters all right and harvest prospects excellent. FIRE at Starbuck, Wash., destroyed the Union Pacific car and machine shops, nineteen locomotives and all other railroad property except the coal bunkers. Loss, $300,000. THE failure of the First National bank at Cedar Falls, la., shows peculiar transactions. THE National bank of Evanston failed, causing great excitement in that suburb of Chicago. LAWSON RUNYON, a prominent Cherokee, was shot and killed by ex-Deputy United States Marshal Creekmoor. A BRAKEMAN and three workmen were killed by a runaway train at Dubois, Pa. BEFORE the Crescent City club at New Orleans Billy McCarthy, the Australian, knocked out La Blanche, the marine, in sixteen rounds. A FIRE at Trondhjem. Norway, reS sulted in the loss of a number of lives. S Four persons were killed while jumping from a burning building and three women and two children were burned to death in the flames. AT Ilmenau, Saxe-Weimar, the boiler of a locomotive exploded, killing five persons instantly and injuring a number of others SO seriously that eight of them were dying. CLEARING house returns for the week ended May 18 showed an average der, crease of 1.2 compared with the corresponding week of last year. In New York the decrease was 6.4. it J. A. R. ELLIOTT, of Kansas City, Mo., S. e captured the Missouri state trophy as the champion wing shot in the state y tournament. He killed thirty straight ot birds. or JUDGE RICKS, at Cleveland, O., aper pointed a receiver for the Clover Leafed the Toledo, Kansas City & St. Louis yrailway. ok FROM indisputable sources it is n, learned that Erastus Wiman's total lia16 bilities will aggregate about $617,000, a in little more or less,according to whether rd certain contingent debts are counted in. ch BLONDIN, the strong man with Cole's ncircus, undertook to hold a powerful xteam of horses together at Lake Placid, & N. Y. Several blood-vessels in the les man's head and chest were ruptured and he died. rch THERE is great excitement in Normal, aIII., over the failure of the Exchange les bank of that city, and the president has of been arrested for receiving deposits is after he knew the bank was insolvent. he THE plate glass trust is an assured fact. he IT is said that a mistake has been as, he made by the interior department in re he ferring back to the Cherokees the mat ter of to whom the seventy allotments is shall be made in the strip. ng A COMPANY is being formed to build a railway from Bowie, Tex., to the City of Mexico. ng IT is conceded that Collector Wenne for of ker, of St. Louis, will be dismissed as at- soon as his successor can be decided on THE Russian cruiser Vitiaz is a total ral ave loss on the coast of Corea. The repor states that all hands were saved.


Article from The Cape Girardeau Democrat, May 27, 1893

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CHIEFS of police of many cities met in Chicago and organized a national union with W. S. Seavey, of Omaha, as president. THE wife of Michael Bierge. a wealthy farmer residing near Barnard, Mo., suddenly became insane and killed her 5months-old bat eand herown throat. dying instantly. THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150, 000 and $200,000, will now be divided ac: cording to law. REPRESENTATIVE negroes of South Carolina met in Columbia and adopted resolutions in which lynching was condemned and an appeal made to the humane people of the state to aid them in suppressing any attempt to violate the law by lynching. THE Brunswick national bank and Oglethorpe national bank, both of Brunswick, Ga., suspended, and M. UIIman. president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) national bank. with a capital of $100,000. were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland. O., were damaged to the extent of $150.000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago. FREDERICK C. SCHENCK. for seventeen years consul to Barcelona, Spain, beginning in Hayes' administration. died at Lafayette, Ind., aged 53 years. THE death of James E. Murdoch. the famous tragedian. aged 83 years, occurred at his suburban home near Cincinnati of various ailments combined with old age. Ix session in St. Paul the international convention of press clubs elected John A. Cockerell, of New York, as president. It was decided to establish a home for aged and infirm journalists. AT Bellaire, O., Ethelinda Mayhue has brought suit for divorce against Oliver Mayhue, a grocer. They were married April 20. 1854. and have fourteen children. Cruelty was the charge. THE directory of the world's fair adopted a rule that for the future all children under 12 and over 6 years of age will be admitted to the fair for twenty-five cents. Ix the southeastern Kansas coal fields 5,000 miners struck for higher wages. FIRE suffocated twenty-five horses belonging to the People's Outfitting company in Chicago.


Article from Wheeling Register, June 8, 1893

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CONCERNING BUSINESS AND FINANCE. NEW YORK, June 7.-The direct liabilities of Erastus Wiman as scheduled are stated at $501,000; contingent liabilities $315,000. The assignees estimate the real estate in his possession as sufficient to pay the direct indebtedness unsecured by collateral and the surplus of collateral, together with interests in various companies can be applied to the liquidation of such contingent liabilities as may be found to exist after realization upon the assets which these represent. NEW YORK, June 7.-Direct liabilities of Thomas M. Barre & Co., coffee merchants, as scheduled, are $948,680: contingent llabilities $30,330; nominal assets $965,335; actual assets $308,697. CHICAGO, June .-Joseph Rathbone & Co., lumber dealers, made a voluntary assignment this morning. Assets are scheduled at $500,000, and liabilities at $250,000 Robert F. Shanklin, the assignee, is now in possession of the company's property. Inability to realize on commercial paper is given as the cause of the assignment. CLEVELAND, O., June 7.-A runis in progress on the St. Clair Street Branch of the East End Savings Bank Company. Many depositors were promptly paid. Offers from other city banks were received, but refused by the oficers who said their bank was entirely solvent and able to care for itself. The depositors are confined almost exclusively to workingmen. No cause is assigned except rumors due to failures in other cities. NEW ALBANY, June 7.-The New Albany Banking Company suspended payment this morning and closed its doors. The suspension was caused by the run made on the Bedford Bank, at Bedford, Ind., yesterday, which forced it to close. It is claimed the assets are $212,000: its liabilities $100,000. A deed of assignment was today made to John H. Stotzenberg. WASHINGTON, D. C., June 6.-Comptroller Eckels to day appointed Charles S. Winslow receiver of the Evanston National Bank of Evanston, Illinois. A telegram from Chicago received this afternoon by Mr. Eckels states the financialsituation there "is more cheerful.' MINNEAPOLIS, MINN., June 7.-A rnmor gained circulation to-day that two of the best known Elevator companies in the Northwest, the Northern Pacific and the Red River Valley, were temporarily embarrassed. The facts in the case as yet will not warrant the assertion that it is a business failure, although the statement comes direct from the general manager of the Northern Pacitic Elevator Company, that that corporation will ask for the appointment of a receiver. The capital stock of the Northern Pacific Elevator Company is $650,000 and of the Red River Valley Company, $250,000. The interests of both concerns are held largely by the same men. A later telegram from Wheatland, N. D., says the Northern Pacific Elevator was closed to-day on an attachment for the Canadian Bank of Montreal. KOKOMO, IND., June 7.-Warrants for the arrest of ex-Governor Chase, Paris and Walden, who were yesterday indicted by the Howard county grand jury in the Greentown bank matter, are in the hands of the sheriff but will not be served before to-morrow on those in reach of service. The courtremoved the bar of secrecy from the grand jury this morning, and they talk freely. They allege that -Governor Chase took intending depositors into the bank a short time before the failure, and showed them "piles of monev," and the few good securities held by the concern. The bad ones. of which they say Gov. Chase had knowledge, were not brought out. Paris and Walden have drawn $15,000 from the bank on their personal notes, the funds going to Paris. Chase knew if this paper when he was recommending the bank as a safe place of deposit. CHICAGO, June -The flurry among savings bank deporitors had about run its course this morning. At the saving institutions where there was still enough of a gathering to be called a crowd, there was no sign of the panicky unreasoning alarm which beset the depositors Monday, and before the closing hour this afternoon it is thought the run will have subsided.


Article from The Star, June 14, 1893

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CRASHES AT OTHER POINTS. The following is a summary of the financial disasters recorded Tuesday: Maintowor, Wis.-State Bank of Maintowoc after standing a three weeks' run. Defiance, 0.-Andrew Sauer's Savings Bank: liabilities, $100,000; assets $150 000. Boston.-Potter & Potter, magazine and newspaper publishers; liabilities $100,000. Philadelphia.-Same E. Prince. marble quarryman; liabilities $100,000; nominal as. setts $250,000. Troy. N. Y.-Neber & Carrenter. private bankers and brokers; liabilities, $235,000; actual assets, $131,000. Three Rivers. Mich.-Bank of Three Rivers, capitalization, $10,000; accounts due depositors at last statement, $60,000. Spokane, Wash.-Washington National and Washington Savings Banks; assets in excess of liabilities. Racine, Wis.-A run is in progress on the Manufacturers' National Bank. At Madison the First National is being subjected to a heavy run. Two Rivers, Wis.-The Bank of Two Rivers failed. The owner, David Becker, is not in the city. Evanston, III.Charles S. Winslow has been appointed receiver of the Evanston National Bank, Spokane. Wash.-The Comptroller has directed Bank Examiner E. T. Wilson to take charge of the Citizens' National Bank and the Washington National Bank. New Albany. Ind.-The New Albany Banking Company closed its doors owing to the fall of the Bedford Bank. Assets claim. ed, $212.000; liabilities. $100,000. Bedford, Ind.-The Belford Bank has suspended after a run. Palouse, Wash.- The First National Bank has suspended, owing to the Bank of Spokane's failure. Chicago-Joseph Rathbone & Co., lumber dealers. have assigned. Scheduled assets, $500,000. The run on the Banks has ceased. Cleveland, 0.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. No cause except fail 'rres in other cities.


Article from Evening Star, July 21, 1893

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National Bank Matters. The controller of the currency today appointed Mr. John P. Hopkins of Kensington, Chicago, III., receiver of the Chemical National Bank of Chicago, III. The controller has been advised that the First National Bank of Cheyenne, Wyo., has closed its doors to business, The controller of the currency has authorized the First National Bank of San Bernardino, Cal., and the First National Bank of Santa Ana, Cal., to reopen their doors for business, These banks have complied with the requirements imposed by the controller and are reported by the bank examiner to be in satisfactory condition with unimpaired capital. The controller of the currency has ordered a dividend of 30 per cent in favor of the creditors of the Evanston National Bank of Evanston, III. The checks for the payment of the dividend will be distributed on or about August 1 by the examiner at the bank of Evanston. The controller of the currency has been advised that the Farmers' National Bank of Henrietta, Tex., has closed its doors to business.


Article from The Dickinson Press, March 16, 1895

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Embezzleme.nt Charged. Chicago, March 14.-Four of the officers of the Evanston National bank were indicted to-day for the alleged embezzlement of funds of that institution by the grand jury of the United States district court. The aggregate of the reputed shortage is placed by Receiver Wood at $44,000. The indicted officers are President Henry Wells. Vice President N. E. Hill, Cashier J. C. Austin and Director E. T. Paul.