5008. First National Bank (Hammond, IN)

Bank Information

Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
3478
Charter Number
3478
Start Date
August 4, 1893
Location
Hammond, Indiana (41.583, -87.500)

Metadata

Model
gpt-5-mini
Short Digest
7f44c8f2deb68b07

Response Measures

None

Description

The First National Bank of Hammond suspended on Aug 4, 1893 reportedly to prevent the excitement of a run amid a wave of bank closures elsewhere; it was later authorized to resume and is listed as reopened in late September 1893. The suspension appears driven by contagion from other bank failures rather than a bank-specific insolvency or a discrete misinformation event.

Events (4)

1. March 31, 1886 Chartered
Source
historical_nic
2. August 4, 1893 Suspension
Cause
Local Banks
Cause Details
Closed amid widespread bank failures and withdrawals elsewhere (St. Paul German-American bank, other Indiana banks); directors closed to prevent a run/excitement.
Newspaper Excerpt
To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank. In doing this act at this time it is with a desire to prevent the excitement of a run
Source
newspapers
3. September 26, 1893 Reopening
Newspaper Excerpt
The First National Bank of Hammond, Indiana: ... have been permitted to reopen their doors for business: The First National Bank of Hammond, Indiana
Source
newspapers
4. February 3, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (12)

Article from Asheville Daily Citizen, August 4, 1893

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BANK KEEMBARRASSMENTS. Several of Them Close Their Dvors-One Resumes. WASHINGTON, Aug. 4.-Treasury officials are advised that the National German American bank of St. Paul, capital $2,000,000; the First National bank of Harmond, Ind., capital $50,000, and the Citizens' National bank of Muncie, Ind., capital $200,000. closed their doors to business this morning. Bank Examiner Gannon, on orders from Washington, closed Texas National bank of San Antonio, Tex., today. Comptroller Eckels has authorized the Farmer's National bank of Henrietta, Tex., to resume business. MUNCIE, Ind., Aug. 4.-The Citizens' National bank, one of the oldest and soundest banks in the city, suspended business this morning. Withdrawal of deposits and inability to realize on paper were the causes. President Kerwood claims assets as two to one. Three other banks in the city preparing for the worst, as the people are greatly excited over the failure. LEBANON, Aug. 4.-The Lebanon Trust and Safe deposit bank failed to open its doors this morning. The bank is a State institution with a capital of $50,000. ST. PAUL,Minn., Aug. 4.-The Peoples' Saving bank, one of the small concern, of the city, closed its doors at noon today.


Article from The Indianapolis Journal, August 5, 1893

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SUSPENSION AT HAMMOND, The First National Closes Its Doors to Prevent the Excitement of n Run. Special to the Indianapolis Journal HAMMOND, Ind., Aug. 4.-The First Na. tional Bank of this city failed this morning. At 9:30 o'clock the following notice was given to the public: To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank. In doing this act at this time it is with a desire to prevent the excitement of a run and to treat all fairly, and I wish to assure every one that while they will have to wait a little for their money. every dollar will be paid in full just as soon as M. M. TOWLER. money can be collected. No excitement was caused by the failure, as most of the directors are wealthy and is is believed they will see that the bank pays


Article from The Helena Independent, August 5, 1893

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BUSINESS FAILURES. The National German American Bank, of St. Paul, and Others. ET. PAUL, Aug. J.-The National German Amerioan bank, of this city. did not open its doors for business this morning. This step was rendered necessary by the steady drain upon its resources for several months, depositors having withdrawn $1,562,000 since January. The unsets are more than ample to meet all liabilities. The officers announce that they will pay all depositors, so that no loss will be BOS. tained. The closing of the doos caused some withdrawal of funds from other banks, but there is no partieular excitement or !uns on. This morning the People's Savings bank, with a capital of $200.000, suspended. The failure is not considered im: ortant. The West Side bank, cap. ital $100,000, closed its doo's at one o'olook. No statement has been made. The bank officials say they expect to resume in a few days. MILWAUKEE, Aug. 4.-Washington Reeker, as receiver of the Wisconsin Marine and Fire Insurance company bank. has begun suit in the superior court against John L. Mitchell. David Ferguson and John Johnson to collect unsecured promissory notes aggregating $600,000. JAMAICA, L. I., Aug. 4.-Frederick W. Dunton, president of the Bank of Jamaios, the Now York & Brooklyn Suburban Investment company, and the Boynton Bicle Railroad company, has made an assignment. Assets ample to meet all liabilities in time. CHICAGO, Aug. 4.-James H. Walker & Co., dealers in dry goods and one of the, largest fi me in the city, confereed judgment to-day on a note for $5,495. A reoeiver has been asked fo ; the amount involved, $2,000,000. NEW YORK, Aug. 4.-N. L. Cort & Co., importers of tin, tin plate and other metals, made an assignment to-day. Liabilities $350,000, assets unknown. 8. Jacoby & Co., cigar manufacture s. confessed judements aggregating $30,000; liabilities $150,000, assets large. DENVER, Aug. 4.-A receiver has been appointed for the Equitable Accident Insurauce company. Outstanding risks, $6,000.000, will be reinsured with the Union Casualty company. Trouble among the stockholders caused the failure. WASHINGTON, Aug. 4.-Treasury officials re advised that the First National bank of Hammond, Ind.. capital $50,000. and the Citizens National bank of Muncle, Ind., capital $200,000, closed their doors this morning. PNISTBURG, Aug. 4.-M. M. Stemple, Jr., President of the Pittaburg & Akron railroad. confessed judgment for $208,456 as a result of the failure of that road, which went into the hands of a receiver a few days ago. LEBANON. P1., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this morning. It is a state institution and has a capital of $50,000.


Article from The Times, August 5, 1893

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worst, as the people are greatly excited over this failure. LEBANON, PA., Argust 4.-The Lebanon Trust and Safe Deposit Bank falled to open its doors this morning. The announcement made was: "This bank is closed by order of the directors." The bank is a State institution, with a capital of $50,000. ST. PAUL, MINN., August 4.-The People's Saving Bank, one of the small concerns of this city, closed its doors at noon to-day. WASHINGTON, D. C., August 4.Treasury officials are advised that the National German-American Bank, of.St. Paul, Minn., capital $2,000,000; the First National Bank, of Hammond, Ind., capital $50,000, and the Citizens' National Bank, of Muncie, Ind., capital $200,000, closed their doors to business this morning. Bank Examiner Cannon, on orders from Washington, closed the Texas National Bank, of San Antonio, Texas, today. Comptroller Eckels has authorized the Farmers' National Bank, of Henrietta, Texas, to resume business. NEW YORK, August 4.-Messrs. Parrott Bros., members of the Cotton Exchange, have announced their inability to meet their engagements. NEW YORK, August 4.-N. L. Corte & Co., importers of tin, tin-plate and other metals, made an assignment to-day. The liabilities are about $350,000; the assets are large, but the actual amount cannot be given. S. Jacoby & Co., cigar manufacture:s, failed to-day. The liabilities are $150,000, with large assets. ST. PAUL, MINN., August 4.-The temporary suspension of the German American National Bank last night, although not unexpected in banking circles, was a great surprise to the general community. So confident are the people of the strength of the remaining banks that, although some depositors are quietly withdrawing mont from a few banks, there is no particular excitement or general run on any of the banks. The savings banks for several days have been enforcing the sixty day rule, although most of them have abundant resources for any emergency. The failure of the Seven Corners' Bank on Tuesday attracted little attention, as it had been known to be weak for months. Some of the banks had helped at times, but felt at the present time a disinclination to continue their help, which seemed only to postpone the failure that finally came. But the closing of the German-American Bank last night was of a different character. It and its predecessors have been in the city as institutions for years, the first organization having been effected in 1856, and all subsequent changes strengthening and enlarging the bank, which now has $4,000,000 of good commercial paper, its banking house and property besides, worth at least $200,000. and other assets, which will make $400,000 more, or a total of $5,000,000. The People's Bank, of a capacity of $200,000. suspended, but no figures have as yet been given out concerning it. The failure is not considered an important one. DENVER, COL., August 4.-Charles B. Mason has been appointed receiver of the Equitable Accident Insurance Company. The outstanding risks amount to $6,000,000, and have been reinsured with the Union Casualty Company, which, it is claimed, will fully protect them. MANKATO, MINN., August 4.-At noon to-day the First National Bank closed its doors. At 1:30 P. M. the National Citizens' Bank did the same, and fifteen minutes later the Mankato National Bank followed suit. All three banks are solvent. and the suspensions are expected to be temporary only.


Article from The Daily Morning Astorian, August 5, 1893

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BANKRUPT BREVITIES. The People's Savings Bank of St. Paul closed its doors yesterday morning. A receiver has been appointed for the Denver Equitable Accident Insurance Company; its outstanding risks of $6,000,000 have been reinsured with the Union Casualty Company. Trouble among the stockholders caused the failure. The closing of the doors of the St. Paul German National Bank yesterday caused some withdrawal of funds from other banks, but no particular excitement or runs. James H. Walker & Co., dry goods, one of the largest firms in Chicago, confessed judgment yesterday on a note for $5,495. A receiver has been asked for. The amount involved is $2,000,000. The First National Bank of Hammond, Ind., capital $50,000, and the Citizens' National Bank, of Muncle, Ind., capital, $200,000, closed their doors yesterday morning. S. Jacoby & Company, cigar manufacturers of New York, have confessed judgments aggregating $30,000. Liabilities, $150,000. The West Side Bank of St. Paul, capital, $100,000, closed yesterday. No statement has been made.


Article from The Seattle Post-Intelligencer, August 5, 1893

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CONDENSED DISPATCHES. The Lebanon Trust and Safe Deposit bank, at Lebanon, Pa., has suspended temporarily. The Osage Indians have refused to sell their reservation in Oklahoma territory to the government An unsuccessful attempt to wreck and rob a Wabash train was made on Thursday near Atlanta, Mo. Fire at Sangor, Cal, destroyed a livery stable and cremated eighteen horses Friday morning. Loss, $2,500. Fire at Princeton, Minn., early Friday morning destroyed the First National bank and seven other buildings. Loss, $50,000; insurance partial. The Karmis. which arrived in New York on Thursday from Naples, was held at quarantine to be disinfected. There were no cholera cases on board. The First National bank of Platteville, Wia, the First National bank, of Hammond, Ind., and the Citizens' National bank, of Muncie, Ind. have suspended. Dr. Isano Crook, late of the University of the Pacific, California, has been elected chancellor of Wesleyan university, at Lincoln, Neb., to sueceed Rev. C.F. Creighton, resigned. Filty officers and men attached to the department of Colorado, United States army. have arrived in Los Angeles from Santa Fe. This is in accordance with the recent order changing department headquarters Suit has been commenced against John L Mitchell, David Ferguson and John Johnson by Receiver Recker. of the Wisconsin Fire and Marine Insurance Company bank, to secure judgment on promissory notes aggregating $600,000


Article from The Herald, August 5, 1893

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BANIK FAILURES, Muncie, Ind., St. Paul, Minn., and Other Panic-Stricken Cities. MUNCIE, Ind., Aug. 4.-This morning the Citizens' National bank of this city failed to open its doors. A notice on the door said the assets were ample to pay all depositors. Hundreds of depositors congregated. The depositors of the Delaware National, Farmere' National and Merchants' National banks then commenced to draw out their money. The run continued until 4 o'clock this evening. Heavy deposits are being made by wealthy citizens to save the remaining three. WASHINGTON, Aug. 4. -The - treasury officials are advised that the First National, bank of Hammond, capital $50,000, and the Citizens' National bank of Muncie, Ind., $200,000,closed doors this morning. PLATTEVILLE, Wis., Aug. 4.-The First National bank closed its doors this morning owing to a heavy run. Assets $50,000 in excess of the amounts due depositors. ST. PAUL, Aug. 4.-The closing of the doors of the German American National bank this morning, as arranged for last night, caused some withdrawal of funds from other banks, but no particular excitement or runs. This morning the People's bank, with a capital of $200,000, suspended. No statement. The failure is not considered important. The West Side bank, capital $100,000, closed its doors at 1 o'clock. No statement has been made. The bank officials say they expect to resume in a few days. The comptroller of the currency has appointed Daniel W. Lawler of this city to take charge of the German American bank. LEBANON, Pa., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this morning. It is a state institution, and has a capital of $50,000. It is believed the suspension is only temporary.


Article from The Salt Lake Herald, August 5, 1893

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TELEGRAPHIC BREVITIES. An earthquake shock was felt at Leichster, England, last evening. A royal decree was read in the Spanish cortes yesterday adjourning the session. J. M. McGhee has been appointed postmaster at Douglass, Wy., vice Storrie, removed. A party of fifty officers and clerks attached to the department of Colorado, have arrived at Denver from Los Angeles. Between Thursday noon and yesterday noon, twenty new cases of cholera and fourteen deaths were reported in Naples. Representative Thomas B. Henderson, chairman of the Republican caucus, has issued a call for a caucus to meet Saturday evening. At Trenton, Mo., Joseph A. Howell was hung for the murder of Mrs. Nettie Hall and four children near Brookfield, Mo., in January last. At Vancouver Wa h., yesterday, Miss Mary Ball, sur rintendent of the Chinese mission school of Portland, was married to Charley E. Young, a Chinese merchant. Extensive forest fires raging a few miles east of Albany, Ore. Already many hundred acres of valuable timber have been destroyed and the fire is still spreading. disaster Treasury officials are advised that the First National bank of Hammond, Ind., capital $50,000, and the Citizen's National bank of Muncie, Ind., capital $300,000, closed their doors this morning. At Philadelphia John Bromley & Sons and Doal & Son, worsted goods manufacturers, and John Blood & Bros., hosiery manufacturers, have closed their plants. Four thousand men and girls are idle. The Platteville, Wis., First National bank has closed its doors, owing to a heavy run. Assets $50,000 in excess of amount due depositors. President Cleveland, Secretaries Carlisle and Lamont left Buzzards Bay for Washington yesterday. Mrs. Cleveland did not accompany the president. The nine Choctaw Indians who were sentenced to be shot yesterday at Wilburton were granted a further respite of one month.


Article from Eagle River Review, August 10, 1893

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NEWS PARAGRAPHS. A DISPUTE on the Smith farm, near Newark, O., about the division of cer wheat, resulted in the killing of man and the wounding of three others. PRESIDENT GREENHUT has stopped the of all products of the whisky trust because of the government order to tax at Chicago instead of New York. RALPH SMITH, a farmer living near Wabash, Ind., has disappeared, leaving wife and child in destitute circumstances. It is believed he has met foul play. LING SING, the private steward to Capt. Roth, commanding the United States revenue steamer Wolcott, is un der arrest at Port Townsend, Wash. charged with sunggling opium. THE secretary-general of the eleventh international medical convention, which to be held at Rome, September 24 cables from Genoa that the congress been postponed to April, 1894. FREDERICK HANLEY, a seventeen-year convict from Berrien County, and Charles Justice, doing nine years from Detroit, both for burglary, made their escape from the Jackson, Mich., penitentiary. THE differences between the Ameritinplate factory and the Welsh workmen at Elwood, Ind., who have been out on a strike, have been satisfactorily adjusted and work will be resumed. Two Italians, Charley Tirro, aged 25, and Giovanni Di Scenza, aged 21, were drowned near Detroit while bathing James Smith, a 13-vear-old boy, was drowned at Des-Chree-Shos-Ka by falling from the landing. THE boiler in the grist mill of Isaac Howell & Son at Pittsburg, III., explod with terrible force. The building badly wrecked. Isaac Howell was killed and William Howell was badly scalded and cannot recover. IN Red Lake River near Grand Forks D., John Bulgick, aged 13, Joseph Bulgick, 11; and Delold Cote were drowned. Two were engaged in a swimming race and both went down The third attempted their rescue, losing own life. EDWARD KUHN, the German farmer ai Shelbyville, Ind., who found strvehnine his food, has since discovered that it also in the flour and lard. He is slowly recovering. Detectives believe neighbor and relative is the criminal are not ready yet to give details. THE First National Bank of Hammond Ind., has suspended. MRS. KANUTE JOHNSON issuffering from leprosy at Des Moines, Ia. RALPH MCALLISTER, aged 18, suicided by shooting, at Morrison, III. JUAN BURGER, 13 years old, died a Kokomo, Ind., from cigarette smoking THE estate of the late Father Mollinof Pittsburg, amounts to $84,195.11 THE W. H. Livingston Company, of Sioux City, dry goods, has assigned Debts, $45,000. EDWARD JONES was shot and killed Thursday night at Bird's Station, Ind. by Charles Griffin. THOMAS GULEIFORD, of Chicago, was drowned while bathing in the Missis sippi at Muscatine. SHARPTOWN, Ind., was visited by a cloudburst which destroyed crops and drowned herds of live stock. MRS. CLARA GEE, a dentist of Grand Rapids, Mich., suffering from overwork drowned herself in a cistern. THE clothing of Mary Neiman, of St. Louis, 10 years old, was set on fire by a boy and she was fatally burned. KANSAS strikers assaulted miners in defiance of the injunction issued from: federal court. One man was hurt. DENVER'S City Council has appropri $15,000 for the purpose of employ idle men at work on the streets. Gov. RENFROW, of Oklahoma, has ousted regents of the agricultural college, charging malfeasance in office. BOBBY TAYLOR, fighting under the so briquet of the "Sailor Kid,' was killed a prize fight at Denver by William Robinson. THE Lebanon, Pa., Trust and Safe Deposit Bank has failed. It has a capita of $50,000. It is believed the suspension temporary. ARCHBISHOP REDWOOD, of Wellington New Zealand, who will attend the Cath Congress at Chicago, has arrived at San Francisco. RAILROAD officials say there is an immense coal tonnage in sight and expect the business to be four times greater than last year. WHILE intoxicated J.B. Milliken sat down upon the Lake Erie & Western tracks near Fostoria, O. He was run and killed. THE steamer Gibraltar while passing through the Straits of Belle Isle was struck by ice and completely wrecked Her crew was saved, THE Michigan Peninsular Car Compahas laid off over 1,500 men. P. J. Moss, the well-known railway contractor, died at St. Louis, aged 35. H. C. DITTMAR, the well-known turi correspondent, died suddenly at New York. Two men were killed and several injured by a boiler explosion at Mount Joy, O. WILLIAM ALSOP escaped from the Indiana prison south by deliberately walkaway.


Article from Union County Courier, August 17, 1893

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Telegraphic Clicks. THE First National Bank of Hammond, Ind., has suspended. JUAN BURGER, 13 years old, died at Kokomo, Ind., from cigarette smoking. THE W. H. Livingston Company, of Sioux City, dry goods, has assigned. Debts, $45,000. SHARPTOWN, Ind., was visited by a cloudburst which destroyed crops and drowned herds of live stock. SARAH T. BOLTON, who wrote "The Union Forever" and "Paddle Your Own Canoe," died in Indianapolis. DENVER'S City Council has appropriated $15,000 for the purpose of employing idle men at work on the streets. Gov. RENFROW, of Oklahoma, has ousted the regents of the Agricultural


Article from The Indianapolis Journal, September 24, 1893

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General Notes. Special to the Indianapolis Journal WASHINGTON, Sept. 23.-The First National Bank, of Hammond, which suspended some weeks age. has been authorized to resume business on next Monday. Charles Waltz was to-day appointed postmaster at Chambersburg. Orange county, vice J. M. Boyd. removed, and James Webster at Mountain Spring. Martin county. vice G. N. Baker. removed. D. H. Fenton, of Hammond, filed his ap. plication at the Treasury Department for the position of chief of a division in the treasury. Mr. Parker and Mr. Austin, of South Bend, have applied for the position of superintendent of the federal building at that city. President Cleveland spent the day At his suburban home, "Woodley," in order to avoid the constant interruptiona he is subjected to at the White House. The House committee on merchant marine and fisheries held a meeting this morning and decided to allow public hearings on Oct. 3 on Representative Fithian's bill providing for free American registers to foreign-built ships. Assistant Secretary Curtis has informed the collector of customs in Chicago that his action regarding the controversy between himeelf and the imperial commiss:onergeneral of Russia was warranted by the facts and law in the case. The committee authorized to select the model for a statute to Gen. John A. Logan has decided to accept that designed by Franklin Simmons. The monument 18 to be made of bronze, with the pedestal richly ornamented. It is to be placed ID the Iowa Circle, this city. An official statement prepared at the Pension Bureau shows that the total number of claims for pensions. now awaiting action at the bureau, is 700,279.


Article from Evening Star, September 26, 1893

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Banks Resuming. The following national banks, which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency, and their capital stock being unimpaired, have been permitted to reopen their doors for business: The First National Bank of Hammond, Indiana: the Milwaukee National Bank of Wisconsin, Milwaukee, Wis.