Article reports the president 'assigned' indicating insolvency and assignment to a receiver.
Events (1)
1.July 25, 1893Receivership
Newspaper Excerpt
Henry Hamburg, president of the Traders' bank assigned this morning. $40,000. Assets about $60,000. Liabilities, about
Source
newspapers
Newspaper Articles (1)
1.July 26, 1893Fort Worth GazetteFort Worth, TX
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Article Text
Failure at Canadian. CANADIAN, Tex., July 25.-(Special.) -Henry Hamburg, president of the Traders' bank assigned this morning. $40,000. Assets about $60,000. Liabilities, about
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.