4934. First National Bank (Kankakee, IL)

View Charter #1793 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1793
Charter Number
1793
Start Date
July 29, 1893
Location
Kankakee, Illinois (41.120, -87.861)

Metadata

Model
gpt-5-mini
Short Digest
af0f6de4

Response Measures

None

Receivership Details

Date receivership started
1893-08-05
Date receivership terminated
1893-12-04

Description

The First National Bank of Kankakee temporarily suspended/closed around July 29–30, 1893 due to the general money-market stringency and inability to realize on paper; depositors were reported protected. Comptroller appointed D. C. Taylor receiver in early August (Aug 7–8). Articles mention withdrawals but do not describe a discrete misinformation-triggered run, so this is classified as a suspension followed by permanent closure/receivership.

Events (6)
1. February 20, 1871 Chartered
Source
historical_nic
2. July 29, 1893 Suspension
Cause
Macro News
Cause Details
Stringency of the money market / heavy withdrawals and inability to realize on securities/paper during the broader 1893 financial panic.
Newspaper Excerpt
KANKAKEE, Ill., July 29.-The First National bank of this city failed to open its doors this morning. A notice posted on the doors states that the assets are ample to meet all claims. ... The stringency of the money market caused the temporary suspension.
Source
newspapers
3. August 5, 1893 Receivership
Source
historical_nic
4. August 7, 1893 Receivership
Newspaper Excerpt
Comptroller Eckels has appointed D. C. Taylor receiver of the First National Bank of Kankakee, Ill. This bank failed some time ago.
Source
newspapers
5. December 4, 1893 Restored To Solvency
Source
historical_nic
6. June 21, 1916 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (18)
1. July 29, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 29, 1893

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TODAY'S FAILURES. One of the Oldest Firms in the Country. HAMILTON, Ohio, July 29.-McNeal & Urban, safe an 1 lock company, one ofthe oldest safe firms in the country assigned. The assets are $160,000; liabilitiesure unknown. The firm claims to be solvent. AKRON, O., July 29.-The Citizens' Savings and Loan association failed this morning. It will pay in full. The capital is $100,000 and the surplus $80,000. KANKAKEE, Ills., July 29.-The First National bank failed this moruing. The assets are sufficient to pay the depositors in full. PORTLAND, Ogn., July 29.-The Commercial National, Portland Savings bank and the Alnsworth National bank failed this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

2. July 29, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 29, 1893

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TELEGRAPHIC BREVITIES. Lewis & Dryden, the largest publishing house in Oregon, has gone into the hands of a receiver. George T. Carpenter, chancellor of Drake Univerity, at Des Moines, Iowa, died at 11 o'clock this morning. The loan committee of the New York clearing house issued $50,000 certificates making total outstanding to date $25,450,000. A registered mail pouch containing $50,000 in securities left the Salt Lake postoffice, eastbound, July 8, and has not since been heard from. At the pienic of the hop growers association at Sylvan Beach near Rome, N.Y., to-day, Senator David B. Hill made an eloquent address, his subject being "Personal Liberty." The building occupied in Chicago by the Chicago Oil Refining Co., a large lumber shed, and four dwelling houses were destroyed by fire last evening. Loss $65,000, insurance about the same. In Mobile, Alabama, yesterday, Bolivar Hudson, a man 69 years old, was convicted of a homicide committed 24 years ago and sentenced to five years i nprisonment in the penitentiary. Gov. Boies, of Iowa, says he is through with politics. Under no circumstances will he accept another nomination for Governor, and says he would not accept the senatorship as a gift. A cable dispatch from London says the yacht Britannia has been selected to protect the gold cup challenged for by the American yacht Navahoe in September. The race will take place off the Isle of Wight. George C. Perkins, the newly appointed U. S. Senator from California yesterday said "I am in favor of bimetallism to a certain extent and will do everything that I consider will benefit the middle classes of the country on which I consider our prosperity mainly depends." The Pennsylvania Railroad Company is preparing to run a series of excursions to Chicago for its emplyees. Transportation will be free and the employces will be given a week's holiday. The transportation agreement provides that the wives, daughters and brothers of the employees may accompany them. The first train will leave New York to-day. At Pittsburg this afternoon a seven story brick and iron building at the corner of Spring alley and Ninth street, owned by the Second National Bank collapsed and crumbled to the ground. About forty workmen were seated inside the building eating their dinners. The men all rushed for the street and escaped, save two, who are yet missing and are supposed to be covered under the many tons of debris. Chambersburg, Pa., was crowded yesterday with people from all along the Cumberland Valley from Harrisburg to Winchester, Va., to witness the dedication of the monument erected by popular subscription. This monument commemorates the burning of Chambersburg by Confederate forces under General McCausland on July 30, 1864 The exercises consisted of a parade, participated in by civic and military organizations from a radius of fifty miles, the singing of national airs by a choir of one hundred voices, and an oration by W. I. Cook, of Baltimore. The monument was presented to and accepted by the City Council. No. 2 Corning Mill of the American Powder Company at South Acton, Mass., blew up at 8:20 o'clock this morning. One man was instantly killed. The explosion was very severe and broke most of the glass in the buildmgs near the mills. There were 2,500 pounds of powder in the mill at the time. Last year the company had two mills blown up. An amputation of the hip joint, one of the most dangerous of operations and the thirteenth of its kind in the annals of surgery in this country, has been successfully performed upon Mrs. Josephine Jaherg, of Rahway, N. J., by Dr. Victor Marvlag. The form of operation was that known as Diffenbach's operation. The following failures are reported to-day Farmers and Merchants' Bank of Covington, Ind.; the C. W. Chapin & Co.'s private bank at Stanton, Mich the Pineville Banking Company at Pineville, Ky; the Citizens' Savings and Loan Association's Bank of Akron, Ohio; and the First Natiodal Bank of Kankakee, Ills. NEW YORK APPOINTMENTS.-President Cleveland's private Secretary, Mr.

3. July 29, 1893 Evening Star Washington, DC
Article from Evening Star, July 29, 1893

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WESTERN BANKS CLOSE. Ex-Treasurer Nebeker's Institution Goes to the Wall. AKRON, Ohio, July 29.-The Citizens' Savings and Loan Association of Akron closed its doors at 10:30 this morning. The cause given was constant drain upon resources by drawing out of deposits. The bank is regarded as in a perfectly sound condition, and will pay dollar for dollar. The capital stock is $100,000, with $80,000 surplus. The company was organized and incorporated in 1872. The suspension created no surprise in Akron. COVINGTON, Ind., July 29.-The Farmers and Merchants' Bank of this city, closed up at 1 o'clock vesterday. At noon the cashier said the reason was the present financial stringency, and inability to realize on its security. Ex-United States Treasurer Nebeker is the president. LOUISVILLE, Ky., July 29.-The Pineville Banking Co. at Pineville, closed its doors yesterday. It was considered the best bank in Southeastern Kentucky. The president will surrender all his individual property to help the bank out. KANKAKEE, Ill., July 29.-The First National Bank of this city falled to open its doors this morning. A notice posted on the doors states that the assets are ample to meet all claims. The bank has a paid-up capital of $50,000 and a large surplus. It was organized in 1871. The bank carried a large line of customers and has been and still is considered all right. E. "Cobb, the president of the bank, is the heaviest stockholder and is a very wealthy man. It is probable that the bank will resume in a short time. The Merchants' National of Chicago and American Exchange National of New York are its principal correspondents.

4. July 30, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 30, 1893

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National Bank of Eau Claire, the Bank of Eau Claire and Chippewa Valley bank at the close of banking hours had taken in more than was paid out. These banks are backed by the wealthiest men in the citv. "n't the utmost confidence is expressed in them. FORTLAND. Ure., July 29.-The Commercial National bank. the Ainsworth National and the Portland Savings banks closed today, on account of the withdrawals of deposits. The Commercial National paid out $150,000. There was a run on the First National this morning, but all demands were promptly met and sufficient cash is said to be on hand to keep paying out for a week, if necessary. The suspended institutions are all said to be solvent. At 1 p. m., the ciosing hour, the excitement had subsided, and the withdrawal of deposits at the other bank ceased, while the business houses were making their usual Saturday deposits. Between the noon hour and the closing time deposits greatly exceeded the withdrawals. D. P. Thompson was appointed receiver of the Portland savings bank this afternoon. A statement of this bank shows resources $2,955,000, which is considered a conservative estimate. The liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National bank during the same period. The Commercial National paid $100,000 yesterday. AKRON, Ohio, July 29.-The Citizens Savings and Loan Association of Akron closed its doors at 10:30 this morning. The cause given was constant drawing upon resources by drawing out of deposits. The capital stock is $100,000, with $80,000 surplus. The company was organized and incorpórated in 1872. The suspension created no surprise in Akron, KANKAKEE, III., July 29.-The First National bank, of this city, failed to open this morning. A steady withdrawal of funds and inability to realize on paper were the causes. The assets are sufficient to pay depositors in full. The bank was organized in 1801. Emory Cobb is president and H. C. Clarke cashier. HAMILTON, July 29.-The McNeale & Urban Safe & Lock company, one of the oldest safe firms in the country, has assigned to Howard Douglass, of Cincinnati. Assets, $160,000; liabilities unknown. The firm had been unfortunate in several large contracts, but it IS claimed it is solvent. WALTHAM, Mass., July 29.-All the American Waltham Watch company foremen were interviewed by President Fitch today, and given instructions as to reducing their working forces. In some cases this will be a cut down of 50 per cent, and in all there will be 1,500 hands thrown out of work indefinitely. Of the hands retained. a large number will have to work for reduced pay, 15 per cent being cut off in some instances, it is said. Letters received today from the Elgin factory report the situation even worse there than in Waltham. There will be 1.600 watchmakers discharged there on Aug. 1, and the pay roll of $120,000 a week will be reduced about one-half. There are 500,000 movements in stock there, valued at $500,000. The concern IS all right financially, having a surplus on hand of $1,000,000 of undivided profits. In the discharge of hands, SO far as possible, those will be retained who have families dependent upon them for support, and the ones discharged will be taken on again whenever the business prospects shall brighten sufficiently to warrant it. HELENA, Mont., July 29.-The Citizens' Stock Growers' National Bank of Miles City closed today. Its assets are said to be far in excess of its liabilities. Stringency of the money market is given as the cause. The First National bank of the same city has all its deposits guaranteed by a committee of business men, and it is thought will be able to keep open. MANCHESTER, N. H., July 29.-Disclosures today tend to show that Cashier Morrell knew the worst, and ran away rather than face the music. A director stated this in

5. July 30, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 30, 1893

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Kankakee Bank Closed. KANKAKEE, III., July 29.-The First National Bank of Kankakee closed its doors today. The assets are $224,000 and the liabilities $147,000. The capital of the bank is $50,000, and it was organized in 1871. Emery Cobb is president of the bank. The stringency of the money market caused the temporary suspension. The stockholders of the bank are all wealthy men, and will see that the depositors shall lose nothing under any circumstances. The other banks are in good condition.

6. July 30, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 30, 1893

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whv credit should not be sound. "No nation." said Harter, "bas ever successfully carried on business under two standards. PORTLAND'S TROUBLE. Three More Banks Fail to Open Their Doors. PORTLAND, Or., July 29.-Three banks failed to open their doors this morning. They were the Commercial National, Portland Savings and Ainsworth National. With the exception of a slight run on the First National there is no excitement. A notice posted on each of the suspended banks says the banks were forced to temporarily suspend, owing to the heavy withdrawal of deposits during the last sixty days and inability to realize on seourities. Dopositors will be paid in full. The Commercial National Bank has a paid-up capital stock of $250,000. Frank Dekum is president. The Portland Savings Bank is under the same management. L. L. Hawkins is president of the Alosworth National, which has a capital stock of $100,000. The statement of the Commercial National and Ainsworth National published July 12, shows the resources as follows: Commercial, $1,950,000; Ainsworth, $687.000. Deposits Commercial, $1,450,000; Ainsworth, $447,000. The Ainsworth National is a United States depository. No statement is yet made of the condition of the Portland Savings Bank. It has a capital stock of $260.000. with a surplus of $202,000. At the closing hour the situation was quiet, all other banks having stood the run. At each of the suspended banks a police officer is stationed to prevent any disorder. Small groups of men are standing on the streets discussing the situation, but there is no sign of any violence. All the three banks which were closed to-day are considered among the strongest in the city and depositors appear to have no fear of losing a cent. It is probable that all three banks will resume in a few days. On account of it being the end of the week most of the banks paid out more than was received. The Merchants' National, where the run occurred yesterday, received deposits in excess of the money paid out. J. Lowenberg, president of the Merchants', yesterday hypothecated all his real property in the city, and is said to have secured $200,000 in cash. This restored confidence and many persons drew their money from other banks and deposited it there. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. The statement of this bank shows resources estimated at $2,950,000. which 18 considered a conservative estimate. Its liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A small bank at Forest Grove has closed owing to the Commercial National's suspension. The statement of the Union Banking Company, which closed yesterday. shows assets of $98,000 with liabilities of $53,000. The city has a claim for $13,000 and is the principal creditor. YOUNGSTOWN, Ohio, July 29.-As a.result of malicious rumors 8 run was started on the Dollar Savings and Trust Company this morning. The bank required legal notice, and not a dollar was paid out. It has wealthy stockholders. A number of merchants withdrew large sums from other banks and deposited with it, allaying the excitement. KANKAKEE, III., July 29.-The First National Bank failed this morning. The assets are sufficient to pay depositors in full. AKRON. Ohio, July 29-The Citizens' Savings and Loan Association failed this morning. It will pay in full. Capital, $100,000; surplus, $80,000. NEW WHATCOM, Wash., July 29.-This morning the following notice was posted on the doors of the Puget Sound Loan, Trust and Bank Company: "Owing to the constant withdrawals of deposits and inability to realize on securities this bank has suspended temporarily." The bank was incorporated under the State laws In 1890. with a capital stock of $125,000. The liabilities are $50,000 and the assets $200,000. WASHINGTON, July 29.-Comptroller Eckels appointed Louis C. Phelps receiver of the Merchants' National Bank of Great Falls, Mont. EAU CLAIRE, Wis., July 29.-The Commercial Bank, capital $50,000, was placed in the hands of a receiver to-day. President Allen said: "We calculate that the depositors will not lose a dollar." There were light runs on other banks. BOSTON. July 29.-A special from Manchester, N. H., says: Disclosures to-day tend to show that Cashier Morrell knew the worst and ran away rather than face the music. A director stated that in addition to the $60,000 of doubtful paper thrown out of the Derryfield Savings Bank, there is from $10,000 to $18,000 due depositors. It is now thought the deficiency in the bank mav go to $100,000. Rich Red Blood

7. July 30, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 30, 1893

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STILL THE BANKS GO DOWN MANY SUSPENSIONS IN THE WEST. THREE IN PORTLAND, ORE-OTHERS IN WIS CONSIN, MICHIGAN, ILLINOIS, OHIO AND KENTUCKY. Portland, Ore., July 29.-The Commercial Nation: Bank, Portland Savings Bank and the Ainswort National Bank failed to open their doors this mor: ing. With the exception of a slight run on th First National. the largest bank in the city, ther Is no excitement. The Commercial National an the Portland Savings Bank are under the same mai agement. A notice posted on each of the suspende banks says: "This bank is forced to temporarily suspend owih to the heavy withdrawal of deposits during the la sixty days and inability to realize on securities. De positors will be paid in full." The Commercial National Bank has a paid-up capita stock of $250,000. The Ainsworth National has capital stock of $100,000. The statement of th Commercial National and the Ainsworth National pul fished July 12 shows resources as follows: Con mercial, $1,950,000 : Ainsworth, $687,000; deposit Commercial. $1,455,000: Ainsworth, $447,000. The Ainsworth National is a United States de pository. No statement has yet been made of th condition of the Portland Saving Bank. It has capital stock of $260,000, with a surplus of #202 900. Milwaukee, July 29.-The Commercial Bank o Eau Claire Wis., did not open its doors this mort ing. Notices were posted that the bank was in th hands of Byron A. Buffington, as receiver. Th closing is due to the continuance of heavy withdrawal and the inability to realize on securities. The Com mercial is a popular savings bank throughout th Chippewa Valley. It has a capital of $50,000. Run were started on the National Bank of Eau Claire, th Bank of Ean Claire and the Chippewa Valley Bank but were counteracted by heavy deposits by man leading business men. These banks are remainin open after hours. Grand Rapids, Mich., July 29.-Local creditors yes terday were advised of the closing of the C. " Chapin & Co. private bank at Stanton, Montcali County, owing to a rush of depositors for their cast No statement of the assets and liabilities has bee given out. Kankakee. III.. July 29.-The First National Bank € this city failed to open Its doors this morning. notice posted on the doors states that the assets ar ample to meet all claims. The bank has a' paid " capital of $50,000 and a large surplus. It wa organized in 1871. The bank carried a large lin of customers and has been, and is still, considered 1 be all right. E. Cobb. the president of the bank, I the heaviest stockholder and is a wealthy man. It i probable that the bank will resume in a short time The Merchants' National of Chicago and the Amer can Exchange National of New-York are its goi respondents. Chicago, July 29.-Stevens & Ross, who did bus ness in a small way at No. 204 Fifty-hfth-st., unde the name of the South Park Bank, failed to-day When the depositors called at the bank this mornin they found a card on the door which announced This bank is closed by order of the court." Th failure is a small one and will cut no figure i financial circles. Covington. Ind., July 29.-The Farmers and Met chants' Bank of this city closed my yesterday. Ex United States Treasurer Nebeker is the president.

8. July 30, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, July 30, 1893

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BANKRUPT BREVITIES. As a result of the action of the say ings banks presidents of New York and Brooklyn at the meeting Friday night, declaring they would require legal no tice for the withdrawal of funds, there were slight runs on savings banks there yesterday. They were all able to protect themselves under the time clause of th law, and no failures occurred or are anticipated. The First National bank of Kanka kee, Ills., failed yesterday; assets suf ficient to pay depositors in full, A run was begun on the Trenton N. J.Savings bank yesterday; but as the bank is one of the strongest in the state no danger it looked for. The withdrawing depositors were paid in silver dollars. As a result of malicious rumors a run was started on the Dollar Sav ings and Trust company of Youngs town, Ohio, yesterday. The bank re quired the legal notice and not a dollar paid out. It has wealthy stockholders, and a number of the merchants drew large sums from the other banks and deposited with it, thus allaying the excitement. The McNeal & Urban Safe and Lock company of Hamilton, Ohio one of the oldest safe firms in the country has assigned; assets $160,000; liabilities un known. The firm claims to be solvent. A meeting of the creditors of Foster & Co., and Charles W. Foster of Fos teria, Ohio decided to employ an expert to examine the books to see whether there are any irregularities in recent transfers of real estate.

9. July 30, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 30, 1893

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TELEGRAPHIC BREVITIES. Matilda Thiliadean has been appointed postmaster at Clark's Ford, Idaho, vice Venton resigned. The Barber Asphalt company at Buffalo, N. Y., have discharged 1,000 men because of dull times. At Kankakee, Ills., the First National bank failed yesterday morning. The assets are sufficient to pay the depositors in full. Comptroller Eckles has appointed Louis G. Philips receiver of the Merchants' National bank of Great Falls, Mont. At Norfolk, Va., yesterday, Rear Admiral George Brown took command of the Norfolk navy yard, relieving Captain Potter. Army officers are about to test at the Frankfort arsenal samples of smokeless powder made by a California powder company. The Citizens' and Loan association of Akron, O., has failed. It will pay III full. The capital is $100,000 and the surplus $80,000. The private bank of C. M. and Thomas Kees at Forest Grove, Or., closed its doors this morning. Theinstitution is believed to be solvent. The First National bank of Kankakee, Ill., have closed, owing to financial stringency, Liabilities, $147,000; assets, $224,000. It is thought depositors will lose nothing. President Enoch Bryant of Vincennes, Indiana, university has been elected president of the state agricultural college and school of science at Pullman, Washington. Robert H. Barclay, chief clerk of the railway mail service at Helena, Montana, has been promoted to be Superintendent of the tenth division R. M. S., with headquarters at St. Paul. The McNeal & Urban Safe and Lock company of Hamilton, Ohio, one of the oldest safe firms in the country, has assigned. The assets are $150,000, liabilities are unknown. The firm claims to be solvent. Commercial bank of Ean Claire, Wisconsin, capital $500,000 was placed in the hands of a receiver today. President Allen said "we calculate depositors will not lose a dollor." There were light runs on other banks.

10. July 31, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 31, 1893

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NEWS NUGGETS. Brought by the Wires From the North. East South and West. The First National Bank of Kankakee, III., closed its doors Saurday. Assets. 8224,000; liabilities, $147,000. Stringency of the money market caused the suspension. The depositors will lose nothing. Prebble Bros., boot and shoe dealers. running three stores at Fall River, Mass. have assigned. The liabilities are about $17,000; assets, $12,500. They have been in business there a great many years. A negro named Harper was lynched by a mob near Calera. Ala., Friday. for attempting a criminal assault on a white woman Thursday night. He was taken from the sheriff and strung up to the nearest tree. It is rumored that a large number of valuable securities are missing from the assets of the People's Fire Insurance Company of Manchester, N. H., of which Cashier Morrill, who has disappeared, was treasurer. The No. 2 Corning powder mill of the American Powder Company, situated bee tween two and three miles outside of Conn cord. N. H., exploded Saturday morning r at 8.30 with a crash that shook the whole neighborhood. One man by the name of e William Clegg, 30 years old and single, P was killed outright and several badly ini jured. n Word has just been received at Ply mouth, N. H., that a party of 12 from the Pasquancy house, on the shores of New Found lake, made the ascent of Cordigan mountain Friday. Two of them went in search of water. and have not been heard from since. It is supposed they were lost in the dense woods, and were unable to find their way out. Letters received from the Elgin factory h report the situation even worse than in Waltham. Sixteen hundred watchmakers R will be discharged there on August 1st and the pay roll of $120,000 a week will be reduced about one-half. There are 500,000 movements in stock there valued at 8500,000. The concern is all right financially, having a surplus on hand of $1,000,000 undivided profits. e Emperor William, on board the imperial f yacht Hobenzollern. arrived at Dover. e Eng. Saturday morning from Kiel. Count Von Patzfelt. German ambassador to Great d Britain, was at Dover awaiting the arrival g of the vacht. He at once embarked and e the Hohenzollern proceeded westward. W Some miles east of Spithead the royal yacht Osborne, with the Prince of Wales and a distieguished party on board, met the d Hobenzollern, and after exchanging signals d with the German yacht, sailed in her company to Cowes, Isle of Wight. The emperor will witness the races off the Iele of Wight during his stay.

11. July 31, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 31, 1893

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Another Bank Closes. KANKAKEE, ILLS., July 30.-The First National Bank of Kankakee closed its doors yesterday. Tee assets are $224,000 and the liabilities $147,000. The capital of the bank was $50,000, and it was organized in 1871. Emery Cobb is president and stockholder. The stringency of the money market is given as the cause of the suspension.

12. July 31, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 31, 1893

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NEWS IN BRIEF. Matters of More or Less Importance Tersely Touched Upon. The First National bank of Kankakee, Ills., has suspended. The government bought 50,000 ounces of silver Saturday at $0.7030. Two thousand persons attended the reception to Mgr. Satolli at St. Paul.

13. August 3, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, August 3, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.

14. August 4, 1893 Highland Recorder Monterey, VA
Article from Highland Recorder, August 4, 1893

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THE NEWS. Mamie Reating, aged seventeen years. died near Allentown, Pa.. from blood poisoning, caused by a rat's bite. -The First National Bink, at Kankakee, Ill., closed its doors. liabilities $147,000.Akron and Western Assets Pittsburg, $234,000, receiver.- Railroad passed into the bands of a Thomas and Michael ( ornelian were killed, of Seranton, Pa., was by being struck an and bly mangled Wm. Diskin, by Marsbal express territrain near Pittsburg. Pa. Town T.J. Blunk and Edward Graham, a tough. shot and killed each other in Parkland, near Louisville, Ky.-Three robbers at the points of pistols, compelled an express messenger to hand over $7,500, at Wichita, Kas. Board of a to Secretary of sent The Presbyterian request Foreign State Gresham Missions requesting that the government take action Mel. in reference to the assault on Miss Anna ton, a missionary in Asiatic Turkey. Abram Fardon, paying teller of the First Na. tional Bank of Patterson, N. J. was arrested, charged with the defa'cation of $10,500. The Railroad Company will to Chicago for run excursions Pennsylvania Cambridge its employes. to The Valley road from Mar'etta, one hundred miles, has been sold to the Pennsylvania Railroad Company.At Hamilton, O., the MacNeale & Urban Safe safe and Lock Company, one of the oldest firms in the country, assigned to Howard Douglass, of Cincinnati. Assets $160,000; liabilities unknown." The H. M. Brown Dry Goods Company, of Cleveland, O., made an assignment.International Typographical Union had $30,in the National 000 failed Tuesdny - Two children Indianapolis Bank of William which of Caynor, a firmer of Muncie, Ind., fell out a hay-mow and were instantly killed.-B. S. Lowenthal & Son, and M. L. Levy Son, wholesale whiskey dealers of Nashville, Tenn., made assignments.--Twenty-even people were madesick by milk obtained from in Louisvi le, Ky. During in Chesterfield windstorm one dai y county,Va.,James s A. Jones was killed, and Capias Dillon, ously injured by a tree falling upon them. -Fire at Ashland, near Richmond, Va., burned out a number of stores. Total loss about $30,000, insurance $12,000.-The forty-seventh anniversy of Liberia's indewas celebrated at the dedication of that pendence by the country's Exposition pavilion in the Agricu tural building.-The annual convention of the North American United Caledonia Association was opened in the First Methodist Episcopal Church, Chicago. Jacob Heinze and Henry Kaiser were convicted in St. Louis of the murder of Eda wealthy citizen, on the of March 2 last. The night win E. Brown, failure New of York H. 1. Nicho'as & Co., members of the firm Stock Exchange, was announced. The is composed of H. I. Nicholas, John D. Nicholas, Walter C. Taylor and Marcus a Mayer. The firm was considered quite prominent one in Stock Exchange circles. Two boilers of the Bellevilie Distuling Company explode I at St. Louis, tearing the boilerhouse to fragments, and badly wreck_ ing part of the main building. A portion of of one of the boilers was blown a distance two hundred and fifty feet. Nobody was hurt; damage $20,000. Prince Yorihito of Japan will shortly visit the United States. G. --At Brooklyn, an engineer on the tug W. Wright was drowned by a collision with the tug F. W. Vosburgh.-Arb Bros. Ariosa coff e mill, of Brooklyn, which closed down a few days ago, resumed operations on a limited scale.--At Montreal, McDougall's out foundry W. S destroyed by fire 130 men of work. - The employes of the Clark have T. Thread Company, at Newark, N.J., been notified to work on short time. Manufacturers of jewelr, in Plainville, North Attleboro, Attleboro Falls and Attleboro, Mass., have closed their shops, owing to A receiver has Leen appointthe (Del.) ed hard for times. Wilmington Dental McKibben, Manu- a facturing Company. Maud St. girl aged seventeen, was charged at her the coroner with poisoning men were parents.--Three Louis by load blown of all nitro- to pieces by the explosion of a glycerine near Pittsburg.

15. August 8, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 8, 1893

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INCREASING THE CIRCULATION. Government Employes Working Extra Hours to Supply National Banks with Notes. WASHINGTON, Aug. 7.-To meet the con. stantly increasing demand for national bank notes from banks which are taking advantage of the low rate of government bonds and buying them and increasing their circulation, Secretary Carlisle has or. dered the force of the Bureau of Engraving and Printing to work from 8 A. M. until 6P. M. With these extra hours the total issue per day. beginning with to-morrow. will be about $1,250,000. exclusive of reissues. The gold in the treasury is daily increas ing. It stands to-day $102,291,395. or $2,291,395 above the reserve. The net balance of the treasury, however, by the statement issued to-day, showsa decrease attributed largely to a falling off in customs receipts. This balance 18 $15,989,722 The subsidiary silver in the treasury amounts to $12,599.000. So far this month the receipts in rouna figures amount to $5,000,000 and the expenditures to $7,750,000. of which $3,000,0 000 have been paid on the pension account. The largeexpenditureshavereduced the net balance. The fact that customs receipts are falling off, while it affects the government revenue from that source, has an ODposite bearing upon the general presperity of the country. as it shows that less money 18 being expended abroad for imported merchandise. The offers of silver to the Treasury De. partment to-day aggregated 505,000 ounces, and of this amount 21,000 ounces were purchased at 72.6, and the same price tendered for the remainder. Bank Examiner Caldwell has been placed in charge of the closed national bank at Sturgis, Mieb. Controller Eckels has authorized the First National Bank of Hutchinson, Kan.. late suspended, to reopen for business. and has appointed D.C. Tay for receiver of the First National Bank of Kankakee, 111. This bank failed some time ago. Refused to Accept New York Exchange. CHICAGO, Aug. 7.-The officers of the Stock Yards National Bank caused a mild sensation to-day when they refused to aocapt New York exchange from Evt. rn buy. ers. The stand taken by the bank officials had an effect on the market. which went considerably lower than on Saturday and

16. August 8, 1893 Evening Star Washington, DC
Article from Evening Star, August 8, 1893

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Bank Receivers Appointed. D. C. Taylor has been appointed receiver of the First National Bank of Kankakee, Ill., and Gilbert C. Shattuck receiver of the National Bank of the Commonwealth of Manchester, N. H.

17. August 8, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 8, 1893

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Will Reopen. WASHINGTON, Aug. 7.-Comptroller Eckels has authorized the First National bank, of Hutchinson, Kan., lately suspended, to reopen for business. and has appointed D. C. Taylor receiver of the First National bank, of Kankakee, III. This bank failed some time ago.

18. August 8, 1893 Evening Star Washington, DC
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Bank Receivers Appointed. D. C. Taylor has been appointed receiver of the First National Bank of Kankakee, III., and Gilbert C. Shattuck receiver of the National Bank of the Commonwealth of Manchester, N. H.