5073. Bank of Commerce (Indianapolis, IN)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Reopening
Bank Type
state
Start Date
July 24, 1893
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
358b5bccb2124b32

Response Measures

None

Description

Contemporary articles report a quiet run on the Bank of Commerce driven by nervousness after the Depauw/Premier Steel failure and the collapse/suspension of other local banks; the Bank of Commerce suspended on July 25, 1893 and reopened Oct 2, 1893. Bank type not explicitly stated in the articles.

Events (3)
1. July 24, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Nervousness and withdrawals triggered by the failure/assignment of C. W. Depauw and related Premier Steel Works paper held by local banks; Depauw estate was principal owner of the Bank of Commerce.
Measures
Asked other banks for assistance; prepared for emergencies; subsequently closed (suspended) after assistance failed to materialize.
Newspaper Excerpt
The Bank of Commerce had quite a run...the publication of Depauw's failure hurried things along.
Source
newspapers
2. July 25, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension attributed to runs and the failure of Depauw and related concerns plus failure/closure of other local banks which cut off expected assistance; general money stringency also cited.
Newspaper Excerpt
On the door of the Bank of Commerce the following was posted: Owing to the general stringency of the money market and the consequent difficulty of immediately realizing upon its securities, this bank has suspended.
Source
newspapers
3. October 2, 1893 Reopening
Newspaper Excerpt
The Bank of Commerce, which suspended the latter part of July, reopened today. The sign 'bank open' was displayed promptly at 9 o'clock. ... Cashier Bosson said the bank reopened in excellent condition, and cash with which to meet all liabilities.
Source
newspapers

Newspaper Articles (25)
1. May 12, 1893 The Times Richmond, VA
Article from The Times, May 12, 1893

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HARDTIMES COMEAGAIN TOO LITTLE MONEY CAUSES SEV. ERAL BANK FAILURES. The Capital of Indianapolis and the Colume bia of Chicago Suspend Failure Also at Wilmington. INDIANAPOLIS IND., May 11.-The Capital National Bank, of this city, has suspended. The statement is made that the closing of the bank's doors was made necessary by the failure of the Chemical National Bank of Chicago last week, which institution owed the Capital $100,000. The bank also carried a large amount of Premier Steel Works paper. The latter concern was Placed in the hands of a receiver on Friday last. The bank opened, as usual, at 9 o'clock, but it was simply opened, pending an attempt to meet a run on it from depositors, with assistance of other banks The Capital was not a member of the Clearing-House Association, and has been at war with it. When the other banks were asked for assistance, they met and declined to render any. The doors of the Capital were then at once closed by order of the directors. The first public intimation of the failure was the placard pasted on the window. and the excitement for a time was intense. A number of people withdrew their deposits from other banks. The Bank of Commerce had quite a run. It is controlled by the Depaus, who were the controllers of the Premier Steel Works, now in the hands of a receiver. Some of the paper of the Steel Company was held by the Capital Bank. The Bank of Commerce was prepared for all emergencles. and confidence was soon restored. The actual liabilities of the Capital are about $1,050,000. The paid up capital stock is $300,000. and the assets are estimated at $250,000. M. B. Wilson was president, and Charles B. Doherty cashier. The failure may endanger the solvency of banks at Vincennes, Sullivan and Gas City, in which Wilson, Doherty and others are large stockholders, and between which and the Capital intimate relations existed. The Comptroller of the Currency has telegraphed that a special agent is on his way to take charge of the bank. It is believed that the Capital will pay 100 cents on the dollar. Wilmington Bankers Suspend. WILMINGTON DEL. May 11-The annourcement of the failure of R. R. Robinson & Co., bankers and brokers of this city, to-day created a profound sensation. Rumors of the failure of this well-known firm have been on the street for several days, and business circles have been excited. The liabilities of the firm are estimated at $300,000. while the assets do not exceed $100,000. The sheriff has seized all the property of the bankrupt firm. Another Chicago Bank Fails. CHICAGO, ILL., May --The Columbia National Bank of this city has failed. In a report of the bank's condition, made by its officers at the close of business May 4th, the deposits were stated to be nearly one and a half million dollars. The capital stock of the bank is $1,000,000. The failure was due to unprecedented withdrawals of deposits during the past two weeks, amounting to nearly half a million dollars Yesterday a demand for $100,000 was made by a customer. The demand was met, but it so impaired the condition of the bank that it was decided to seek the aid of other institutions today. This was done this morning, but rival banks were not inclined to give temporary aid till an examination of the bank's affairs had been made. At 11 o'clock it was decided to announce the failure of the institution, and a notice to that effect was posted on its doors. Insignificant London Failure. LONDON, May 11.-Hallett & Company, navy agents and bankers, have suspended. The suspension has caused a sensation in military and naval circles at the West End, as many officers are depositors with the company, but commercially the failure is of slight importance. The members of the firm are James Alfred Hallett, William Charles Hallett and Milford Hallett, and their place of business Is 7 St. Martin's Place, W. C.

2. May 17, 1893 The Enterprise Wellington, OH
Article from The Enterprise, May 17, 1893

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BANKS SUSPEND. The Capital National, at Indianapolis, Closes Its Doors. The Columbia National Bank, at Chicago, in the Same Predleament-Both Suspensions Caused by the Recent Failure of the Chemical National Bank at Chicago. INDIANAPOLIS, May 12.-The Capital bank of National this morning. city suspended The suspayments yesterday was caused of the pension Chemical National by bank the of failure Chicago and the Premier steel works of this city. The Chemical bank is debtor to the Capital National to the amount of at least $90,000. The first public intimation of the failure was the placard pasted in the window and the excitement for a time was intense. A number of people withdrew their deposits from other banks. The Bank of Commerce had quite a run. It is controlled by the Depauws, who were the controllers of the Premier steel works, now in the hands of a receiver. Some of the paper of the steel company was held by the bank. The was for all and Capital prepared Bank emergencies of Commerce confidence was soon restored. The actual liabilities of the Capital are about $1,505,000. The paid up capital stock is $800,000 and the assets are $250,000. M. B. Wilson was and estimated president at Charles B. Doherty cashier. The failure may endanger the solvency of banks at Vincennes, Sullivan and Gas City, in which Wilson, and others are Doherty large the stockholders, between which and Capital intimate relation existed. It is believed that the Capital will pay 100 cents on the dollar. CHICAGO, May 12.-The Columbia National bank of this city suspended yesterday. Rumors that the institution was in trouble have been current for nearly a week. It did business with small country banks and was not in esteem with the other banking concerns of the city. In a report of the bank's condition, made its officers at ness the were to May by 4, deposits the close stated of busibe nearly $1,500,000. The capital stock of the bank is $1,000,000. Bankers look upon the failure as natural consequence of more than one condition. Those in a position to know, declare that the Columbia owed $100,000 to a certain bank whose name is withheld, and that this bank refusing to accommodate the weakened institution and it to secure the to tide it over the means give time its difficulties, crisis was forced and the bank had to close its doors in consequence. Another reason for in business leged inexperience given the failure banking is the alof the efficials. The president of the concern, Zimri Dwiggins, came to this city from Logansport, Ind., and is believed to be interested in two or three banks in the Hoosier state. Some time ago the Columbia National made application to be admitted into the clearing house association. The bank's affairs were carefully examined with a view to such admission, but the showing made by its officials $ was so poor that the application was , rejected. , WILMINGTON, Del., May 12.-The an1 nouncement of the failure of R. R. Rob8 inson & Co., bankers and brokers of this city, yesterday ereated a profound sensation. The liabilities of the firm are estimated at $800,000, while it is said the assets will not exceed $100,000. WASHINGTON, May 12.-Comptroller 9 Eckels has designated D. A. Cook, bank 1 examiner for Illinois, outside of the t city of Chicago, to take charge of the Columbia National bank of Chicago. He has also telegraphed Hugh Young, I bank examiner for western Pennsylvan nia, residing at Pittsburgh, to proceed 1 at once to Indianapolis and take charge a of the Capital National bank of that r city.

3. May 19, 1893 The Goodland Republic Goodland, KS
Article from The Goodland Republic, May 19, 1893

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MANY BANKS FAILED. INDIANA INSTITUTIONS FALL WITH THE COLUMBIA. Capital National of Indianapolis Forced to Close Its Doors-Lincoln Grain Dealers Fail, With Heavy Liabilities-Sioux City Company Collapsed. INDIANAPOLIS, May 13.-The Capital National bank, established here over two years ago, suspended payment Thursday morning. The bank opened as usual at 9 o'clock, but it was simply pending an attempt to meet a run on it from the state depositors, with assistance from the other banks. The Capital was not a member of the Clearing House association, and has been at war with it. When the other banks were asked for assistance they met and declined to render any. The doors of the Capital were at once closed by order of the directors. The first public intimation was the placard on the window, and excitament became intense. Some withdrew deposits from the other banks. The Bank of Commerce had quite a run. It is controlled by the Depauws, who were the owners of the Premier Steel works, now in a receiver's hands, and some of the paper of the latter was held by the Capital bank. The Bank of Commerce was prepared for all emergencies, and confidence was soon restored. The direct cause of the Capital's failure is the failare of the Chemical National bank of Chicago, with which the Capital had a deposit of over $80,000. The failure of the Capital National bank may endanger the banks at Vincennes, Sullivan and Gas City, in which Wilson, Doherty and others were large stockholders, and the relations between the banks were intimate. It is not known accurately whether the failure will affect their solvency. The clearing house banks refused assistance because they believed that the suspension could not be averted.

4. July 25, 1893 Evening Star Washington, DC
Article from Evening Star, July 25, 1893

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WESTERN BANKS SUSPEND. Nervousness Caused by the Depauw Failure at Indianapolis. INDIANAPOLIS, IND., July 25. -Indian apolis was in a fever of excitement this morning. At nearly all the banks there were depositors drawing out their money. The doors of the Bank of Commerce were not open this morning. This was not unexpected, as the bank was owned by the Depauws, and the Depauw estate, and because of the failure of C. W. Depauw Seturday a run was made on the bank yesterday. The bank is the oldest in the city and one of the oldest in the state. Vice President John W. Ray says that the nervousness about the Depauws was the cause of the run. Assistance, he says, was promised. but was not forthcoming When it was found that the Indianapolis National had closed its doors this morning It was deemed best to suspend until some of the resources of the bank will be avallable. He says that the suspension will be only temporary. LOUISVILLE, KY., July 25.-The Merchants' National Bank suspended payment this morning. 1:30 p. m.-The - Fourth National Bank has closed its doors. MEDFORD; WIS., July 25.-The Taylor County Bank. owned by Hartman & Matt. assigned yesterday for the benefit of creditors to E. L. Urquhart. The bank was the depository for county and city funds. Assets are given at $16,000. Herman Matt, the cashier, has absconded. MILWAUKEE. July -The Wisconsin Fire and Marine Insurance Company Bank closed its doors this morning. This is Senator Mitchell's bank, and has been considered the strongest bank in the city.

5. July 26, 1893 Arizona Weekly Journal-Miner Prescott, AZ
Article from Arizona Weekly Journal-Miner, July 26, 1893

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TELEGRAPHIC BY ASSOCIATED PRESS TO JOURNAL-MINER. A Big Bank Failure, MILWAUKEE, W18., July 25.-The Fire and Marine Insurance Bank failed this morning. There are due to depositors nearly eight million dollars. The Panic Strikes "Injeeany." Indianapolis, July 25.-The Bank of Commerce and the Indianapolis National Banks failed to-day. The Baltimore & Ohio Keeps Up Its Liek. CLEVELAND, July 25.-An excursion train on the Baltimore & Ohio was wrecked near here this morning and twenty people were injured, three fatally.

6. July 26, 1893 The Herald Los Angeles, CA
Article from The Herald, July 26, 1893

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AT INDIANAPOLIS. Two of the Leading Banks of the City Closed. INDIANAPOLIS, July 25.-The Indianapolis National bank and the Bank of Commerce did not open their doors this morning. The Indianapolis National was considered one of the strongest banks in the city, and was designated the depository of the United States. Its president, Theodore Haughey. last night consulted with the other banks, having previously secured $50,000 to tide him over yesterday. He said the failures at Louisville and New Albany had aggravated the local situation, and it was thought best to suspend. The Bank of Commerce has not been one of large deposits, and the failure will not have much effect locally. Its indebtedness is said to be $150,000. A heavy run was made on the Indiana National. The statement of the Indianapolis National bank, July 12th, showed: Resources, $2,313,154; liabilities-due depositore, $1,194,586; United States deposits, $193,100; deposits of United States disbursing officers, $106,900; due other national banke, $146,403; due state banks, $73,579; notes and bills rediscounted, $51,137; bille payable, $58,000: capital stock, $300,000; surplus, $100,000; undivided profits, $44,446. While the Indianapolis National bank was a United States depository, but $3439 was tied up. Cashier Rexford was asked if the withdrawal of funds by country banks was not largely responsible for the BUSpension. "The stringency of the times, he replied, "has greatly reduced those balances. At this time of year they have heretofore been large." The real trouble of the Bank of Commerce began at the failure of the Premier Steel company. There have been drafts on the bank ever since then. The publication of Depauw's failure hurried things along. The failure of the Indianapolis National shut off their chances of getting help and the bank had to close.

7. July 26, 1893 The Morning News Savannah, GA
Article from The Morning News, July 26, 1893

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INDIANAPOLIS BANKS FAIL. A Quiet Run, as the Result of Rumors, Depleted One of Them. Indianapolis, Ind., July 25.-The Indianapolis National Bank suspended this morning. The failure is for $1,200,000. For some days rumors have been current that the bank was in trouble and these rumors had the effect of starting a quiet run upon it, which, though quiet, depleted the bank's funds and finally made necessary the action of to-day. The Bank of Commerce did not open its doors this morning.

8. July 26, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 26, 1893

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ALL THE LIST DECLINES. THE BANK FAILURES DEPRESS PRICES. HEAVY CURRENCY SHIPMENTS TO MILWAUKEE, LOUISVILLE AND OTHER WESTERN POINTS-TROUBLE WITH PHILADELPHIA COLLECTIONS. Depressing news, to which to attribute further demoralization of the stock market, was not lacking yesterday. On the contrary. It came in with a rush from the sections of the West which have been the recent centres of uncertainty. The morning bad shown some encouraging features, among which was the continued buying for London account, and the feeling was reflected In the prices of some stocks. The news from the West, however, turned the current. The telegraphic announcement of the failure of the Indianapolis National Bank and the Bank of Commerce, of the same city, and, still more, the suspension of the Wisconsin Marine and Fire Insurance Bank of Milwaukee, contributed an element of significance far more effective than recent signs of Western financial distress have been. Following them came the news of other bank failures, notably of the Louisville Deposit Bank. the Merchants' and the Fourth National, of Louisville. All of the Institutions named are in citles from which. with St. Louis, Chicago and Cincinnati, have come the largest demands for currency. These cities have taken the bulk of the millions which have been shipped in the last four or five days. There is yet no end to this westward movement in sight, though accurate prognostication Is as impossible as accurate figures of shipments are unobtainable. It was estimated that another $1,500,000 was sent yesterday from New-York banks in response to calls from Western Institutions. The continued big balance of currency movement against New-York is an unpleasant surprise to the bankers here, who have been hoping that the calls for currency had reached their limit. In the language of the Street, New-York has financed" the country, and the burden has not lightened yet. From the cities where banks were crashing the calls for money yesterday were naturally urgent. One Milwaukce bank telegraphed Its New-York correspondent: "The Marine and Insurance has suspended. We are sound. Can you send us $200,000 currency ?" The amount asked for was sent. Larger smounts were sent to St. Louis and Louisville. There were also some receipts of currency, especially from the Southwest, but financial men estimated that the balance against New-York equalled the shipments made on Monday and on Saturday. The demand for currency at the Sub-Treasury amounted to $400,000. The Clearing House Loan Committee authorized the Issuance of $50,000 in loan certificates, making the amount outstanding $22,000,000. It was expected that 2% much larger amount of new certificates would be issued, reports having It that an additional million or so was to be demanded. Chairman Frederick D. Tappen ridiculed these rumors, as did also other officials of the Clearing House. There was, however, a feeling that a considerable increase of the certificates to-day or to-morrow would not be the happening of the unexpected. The $50,000 issued yesterday was taken by a small uptown bank. The Sub-Treasury was a debtor to the Clearing House yesterday $600,000, and it followed its as yet unexplained course of last week by paying that amount in gold. Its balance on Monday was paid in currency. Money on call opened at 4 per cent, but stiffened to 8 per cent and closed at that point. Time money is still practically unobtainable. One banker called attention yesterday to the fact that from June 18, 1892. to July 18, 1893, the NewYork banks suffered a shrinkage in deposits of $149, 000,000. or this amount there has been a loss of $97,000,000 since February 11. 1893. The deposits in June. 1892. averaged about $534,608,000: in February, 1893. about $491,747,000. and this month about 2204 174.000, This great shrinkage makes more re-

9. July 26, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 26, 1893

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Business Complications. The Louisville Bank of Deposits has failed. The Indianapolis National bank has closed. The Taylor County (Miss.) bank has assigned. The First National bank, Orlando, Fla., has suspended. The Bank of Commerce, Indianapolis, has suspended. The Merchants' National bank, Louisville, has failed. E. J. Gaynor, railroad contractor, Pottsville, Pa., has failed. The J. Obermann Brewing company of Milwaukee has failed. The Wisconsin Fire and Marine Insurance bank has closed. Parkhurst & Wilkinson, Chicago iron merchants, have assigned. The G. B. Hodgman Manufacturing company, Sandusky, o., has assigned.

10. July 26, 1893 The Sun New York, NY
Article from The Sun, July 26, 1893

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New York last week. and on Monday $1,500,-000 in hard cash was started from there to the rescue of Cincinnati and Indianapolis institutions. But it did not arrive in time to check the suspension. On the door of the Bank of Commerce the following was posted: Owing to the general stringency of the money market and the consequent difficulty of immediately realizing upon its securities, this bank has suspended. When the officers of the bank learned for the first time of the condition of the Indianapolis National, they held a hurried consultation. They asked the other banks for aid, but they were not in a condition to help. Cashier Bosson said: "We didn't know until Monday noon that the Indianapolis National was in the condition that it is. The failure of the Depauws and the general condition of the money market, together with the failure of the other banks to help us compelled us to close. We thought it useless to open this morning with our resources. Up to 5 o'clock on Monday we had promises of help, but the others with safety to themselves could not give it." The Bank of Commerce is the property of the Depauw heirs. N. T. Depauw of New Albany is President. Col. John W. Ray. Vice-President, and William Bosson, cashier. It has been conducted on conservative lines, and although not one of the largest in the city, it has been considered one of the most substantial. About fifty people, many of them depositors, gathered around the doors of the bank, and read and reread the short notice announcing the suspension. One old woman, with a large market basket on her arm, was shuffled about in the crowd. She was crying bitterly, and said that every cent she had in the world, $85, was in the suspended institution. In the afternoon all excitement subsided, and runs on the other banks ceased.

11. July 27, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 27, 1893

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EXCITEMENT IN THE WEST DYING AWAY. NO FURTHER TROUBLE REPORTED FROM MILWAUKEE, INDIANAPOLIS OR LOUISVILLE. Milwaukee, July 26.-The bank panic in this city is over. To-day there was not the slightest tendency toward a run on any of the local banks. The crowds that have surrounded the various banking institutions from morning to night for a week past have disappeared and business at the paying teller's window has resumed its normal condition. The men in charge of the affairs of the coveral failed banks are engages in preparing statements, but none will be completed for several days. The greatest interest centres in the affairs of the Wisconsin Fire and Marine Insurance Company Bank. It is stated there the night before the bank closed the sum of $5,844,000 was due depositors, a decrease since July 1 of $2. 026,000, the last named sum representing the amount drawn out during the run and the few days prior thereto. The bank held $108,000 in cash when the Goors closed. The bank raised $150,000 on securities after July 1, and sherily prior thereto had borrowed $500,000 in the same manner. Indianapolis, July 26.-There were no disturbing scenes at any of the Indianapolis banks to-day. and business wore its usual aspect. The determination expressed yesterday by the business community to proceed calmly is evidently In permanent force. There was nothing unusual in the demeanor of the people about the banks and other business centres. The expression most frequently heard was that Indianapolis had no cause for alarm. The banks have been hoarding gold for six months. and all conservative citizens are operating with them to preserve a normal state in the financial situation. Bank Examiner Young ar rived in the city to-day. He went to the Indianapolis National Bank and took possession, in accordance with the instructions from Washington. John W. Ray, of the Bank of Commerce, says that bank will make no assignment, but, on the contrary. will resume business. It is believed that this bank has made substantial arrangements for aid. The failure of the Indianapolis National Bank will result in Inconvenience to the laboring people of the city as a Large number of them havethetrsavingsthere. The funds of the Grand Lodge of Indiana Odd Fellows and the Odd Fellows' Mutual Aid Association were in the bank on deposit. The bank was also the repository of the General Government, and the funds of the Federal Court, the postoffice and the pension agency of Indiana will be tied up indefinitely. The International Typographical Union, whose headquarters are located here, had $30,000 in the bank. President Prescott says, however, that the organization has money on deposit in Philadelphia, and no inconvenience will result unless the money here should be lost. The Central Chair Company, employing 150 men,

12. July 27, 1893 Burlington Weekly Free Press Burlington, VT
Article from Burlington Weekly Free Press, July 27, 1893

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DOORS KEEP CLOSING. two INDIANAPOLIS BANKS GO TO THE WALL. Quiet Runs Made on all the Banks in the City-Loulsville's T National Bank vaukee InstituCloses Doors - Big tion Goes Under York Bankers 1.y. Call the Prospect G) . 25.-The InINDIANAPOLIS, Ind., dianapolis National ban apital $300,000, Mosed its doors this ling. For some ent to the effect days rumors have been , and those ruthat the bank was in trc nors have had the resul 2 starting a quiet lun upon it, which, quiet though it was, as depleted the bank's funds and finally made necessary the action of to-day. According to the statement of the bank made on July 15 its loans and discounts amounted to $1,545,854, while cash and sepurities on hand aggregated $683,000. Individual deposits subject to check were $824,570. The bank was a United States depository and had all the federal money in it, amounting to $300,000. The doors of the Bank of Commerce were not opened this morning. This was not unexpected, as the bank was owned by the Depauws and the Depauw estate, and because of the failure of C. W. Depauw Saturday a run was made on the bank yesterday. The bank is the oldest in the city and one of the oldest in the State. It has a capital of $200,000, of which the Depauw state owned nearly three-fourths. The state is worth $5.000,000 and the stockholders are liable for twice the amount of their stock. C. W. Depauw has made an assignment. A statement taken from the books this morning shows assets, $428,225. Liabilities $411,122. At nearly all the banks there were depositors drawing out their money, but no sustained run was made on any one of them except Fletcher's bank. This is one of the oldest in the city and is regarded as one of the soundest and most conserNative financial institutions in the West. The last statement of the bank showed about $1,900,000 of cash on hand, and bonds to secure deposits of over $1,000,000.

13. July 27, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 27, 1893

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CONCERNING BUSINESS AND FINANCE. INDIANAPOLIS, IND., July 26.-There were no disturbing scenes at any of the Indianapolis banks to-day and business wore its usual aspect. The determination expressed yesterday by the business community to proceed calmly is evidently in permanent force. There was nothing unusual in the demeanor of the people about the banks and other business centres. The expression most frequently heard was that Indianapolis had no cause for alarm. The banks have been hoardng gold for six months and all conservative citizens are operating with them to preserve a normal state in the financial situation. Bank examiner Young arrived in the city to-day. He went to the Indianapolis National Bank and took possession in accordance with the instructions from Washington. John W. Ray, of the Bank of Commerce, says that bank will make no assignment but that on the contrary it will resume business. It is beleived that this bank has made substantial arrangements for aid. DALLAS, TEXAS. July 26.-The Land Loan and Collecting Agency of Murphy and Bolang has made a general assignment. E.S. Loughberough was named as the assignee. The cause given is the stringency in the money market and failure of the banks and Eastern correspondents to carry their paper. No schedule of assets or liabilities have been filed; but as the firm did an enormous business the chances are that the liabilities will reach $500,000 and the assets fully that sum. MILWAUKEE, WIS., July 26.-The bank panic in this city is over. To-day there is not the slightest tendency toward a run on any of the local banks. The crowds that have surrounded the various hanking institutions from morning to night the past week have dispersed, and business at the paying teller's window has resumed its normal condition. The men in charge of the affairs of the several failed banks are engaged in preparing statements, but none

14. July 27, 1893 Mexico Weekly Ledger Mexico, MO
Article from Mexico Weekly Ledger, July 27, 1893

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DISASTER TO BANKS. Depositors Clamoring for Their Money in the Banks at IndianapolisBank Failure at Milwankee, Special Dispatch to the Ledger INDIANAPOLIS, Ind., July 25.A semi-financial panic is prevalent in this city. All the banks aresubjected to runs by depositors and up to this hour two have succumbed. The Indianapolis National Bank has closed its doors with liabilities amounting to $1,200,000. It holds $300,000 of United States funds. The Bank of Commerce is also closed. MILWAUKEE BANKS CLOSED. Special Dispatch to the Ledger. MILWAUKEE, Wis.,July 25.-Fire and Marine Insurance Company Bank of this city closed its doors to-day. It was considered the strongest concern in Milwaukee. IN A RECEIVER'S HANDS. Special Dispatch to the Ledger. SANDUSKY, Ohio, July 25.-The Hodgeman Manufacturing Company, one of the largest concerns in this city, has gone into the hands of a receiver.

15. July 27, 1893 The Sun New York, NY
Article from The Sun, July 27, 1893

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NO PANIC IN INDIANAPOLIS. Government Funds and the Money of Laboring People Tied Up In the Broken Bank. INDIANAPOLIS, July 26.-There were no disturbing scenes at any of the Indianapolis banks to-day and business wore its usual aspect. The determination expressed yesterday by the business community to proceed calmly is evidently in permanent force. There is nothing unusual in the demeanor of the people about the banks and other business centres. The expression most frequently heard was that Incianapolis had no cause for alarm. The banks have been hoarding gold for six months. and all conservative citizens are cooperating with them to preserve a normal state in the financial situation. Bank Examiner Young arrived in the city today. He went to the Indianapolis National Bank and took possession in accordance with the instructions from Washington. John W. Ray of the Bank of Commerce says that bank will make no assignment. but that. on the contrary. it will resume business. It is believed that this bank has made substantial arrangements for aid. The failure of the Indianapolis National Bank will result in inconvenience to the laboring people of the city, as a large percentage of them have their savings in that bank. The Tunds of the Grand Lodge of Indiana Odd Fellows and the Odd Fellows' Mutual Aid Association were in the bank on deposit. The bank was also the depositary of the general Government. and the funds for the Federal courts, the Post Office. and the pension agency of Indiana will be tied up indefinitely. The International Typographical Union. whose headquarters are located here. had $30,000 in the bank. President Prescott says, however. that the organization has money on deposit in Philadelphia. and no inconvenience will result unless the money here should be lost. The Central Chair Company. employing 150 (gmen. closed down yesterday owing to the failsure. The company had a large deposit in the Indianapolis National Bank. and all its ready money is thus tied up. COLUMBUS, Ind.. July 26.-A meeting of the stockholders of the First National Bank was held here last evening for the purpose of signing and publishing a statement that the stockholders, who are worth $4,000,000, pledged their personal property for the payment in full of all deposits.

16. July 27, 1893 Democratic Northwest Napoleon, OH
Article from Democratic Northwest, July 27, 1893

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THE STRINGENCY Continues to Get in Its Work in Various Parts of the Country. Indianapolis, July 25.-The Indianapolis National bank, capital $300,000, has closed its doors. For some days rumors have been current to the effect that the bank was in trouble. For many years the Indianapolis National has been regarded as among the strongest banks in this city. The suspension of the bank is due to the general financial stringency. According to the statement of the bank made July 15, the loans and dis. counts amounted to $1,545,854.16, while the cash and securities on hand aggregated $683,000. The individual deposits subject to checks were $826,570.50. The bank was a United States depository, and had all the federal money in it, amounting exactly to $300,000. Another. The doors of the Bank of Commerce did not open Tuesday morning. This was not unexpected, as the bank was owned by the Depauwsand the Depauw estate, and because of the failure of C. W. Depauw Saturday a run was made on the bank Monday. The bank is the oldest in the city and one of the oldest in the state. It has a capital stock of $200,000 of the Depauw estate. Mrs. Washington C. Depauw, N. T. Depauw and C. W. Depauw owned nearly threefourths. The first two named are worth $5,000,000 and are liable for twice the amount of their stock. Vice President John W. Ray says the nervousness about the Depauw estate was the cause of the run. Assistance, he said, was promised, but was not forthcoming. He said that the suspension was only temporary.

17. July 27, 1893 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, July 27, 1893

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INDIANAPOLIS PANICKY, The Oldest Bank in the State Closed Its Doors Yesterday. INDIANAPOLIS, July 26.-For several days there has been a quiet run on the Indianapolis Bank, which culminated yesterday in the bank's suspension. In addition to these local runs there were calls from correspondents throughout the State. The bank was one of the oldest institutions of its kind in the State. While the bank was a United States depository, but $3,439.96 was tied up. Penr sion Agent Ensley said that he would, of course, cease to draw checks on the suspended bank. August 4 will be pension day and the office will pay out nearly $3,000,000. The doors of the Bank of Commerce failed to open Tuesday morning, but this was not altogether unexpected on account of the failure of C. W. Depauw, a heavy stockholder. Both the suspended banks were mems bers of the Clearing House Association. The only other bank that experienced a run was the Indiana National. which lasted for three hours without affecting the bank in the least. The similarity of the names-Indianapolis National and Indiana National-probably caused the run.

18. July 28, 1893 The Great West Saint Paul, MN
Article from The Great West, July 28, 1893

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AND YET THEY COME. Tuesday evening and Wednesday morning papers were curiosities. Take the Daily News for illustration: One column had a telegraphic report from Eckels, Comptroller, stating that all the trouble was over-the country was safe, and no failures were probable. This was written the 24th. On the 25th and 26th it took over two columns of fine type to record the failures, among them the oldest and strongest banks in the U.S. The most remarkable statement ever made in the financial world came in the finance columns of Tuesday, from New York. It was the statement that "the Philadelphia banks are unable to meet their payments, and the New York exchange is disturbed at this failure on their part!" And yet, so fearful is the goldbug organization that they do not dare to throw Philadelphia into bankruptcy. One attachment issued and over goes everything! We make up a list of a few of the failures, as they occur in one daily issue: Bradford & Church, bankers, Chicago. Henry Bach, wholesale clothing, N. Y. Wisconsin F. & M. Ins. Co. Bank, Milwaukee, by far the strongest bank in the city, and caused great excitement. The city had $1,630,000 in the bank, and will have to suspend payment, as the county did when the Commercial recently closed out. The C. M. & St. P. Ry is also mixed up in it. Several other Milwaukee institutions follow the above failure. New York-a panic raged on the N.Y. stock exchange all day Tuesday, "owing to the bank crashes." "Everything is all right," says Eckels!! INDIANAPOLIS. The Bank of Commerce failed Wednesday. The failure is for over a million dollars.; It was a U.S. Depository, and had over $800,000 of the government funds in it. "It is only a weeding out of banks that ought not to exist," said Eckels, recently! The Indianapolis National Bank failed the same day. "This was one of the oldest and soundest financial institutions in the west." Last week's statement showed over $1,000,000 of bonds to secure depositors! It was the oldest in the city. C. W. Depauw, the banker capitalist, failed on Saturday. The other banks are being run on and several factories have closed. LOUISVILLE. The Louisville Deposit Bank, failed the 25th. The Merchants National went down also, the third national bank to fail in three days, in Louis ville. The Fourth National closed its doors the afternoon of the 25th. The Bank of Commerce went down same day. The Hudson River Tunnel Co., Jersey City, has tumbled. The Hodgman Manufacturing Company, Sandusky, has "gone out." Ripley & Bronson, iron merchants, St. Louis, failed. Olaf Pary, New York Mills, Minn., has collapsed. Wealthiest Finlander in the west. Montezuma Silver Mines, Col., in a receiver's hands. Parkhurst & Wilkinson, iron, Chicago, gone under. $1,000,000. Farmers National Bank, Toledo, closed its doors at noon today. (25th.) Gayner, the great railroad conductor, Pottsville, Pa., assigned today. The St. Louis Steam Heating Co. closed today. Tacoma banks are in trouble. The Manchester National Bank of the Commonwealth went over the 25th. Eastern Cotton mills closing every day. Gloomy. On the morning of the 26th the papers were at last compelled to get off their perch, and admit that the situation as to finances was gloomy, and foreboded disaster. The display heads say, "The New York Money Kings Do not Like the Situation." The New England banks are all tottering. A. meeting of the silver men of New York was broken up by the republican goldbug gang. It was held at 5th Avenue Hotel. Wall Street is at last gloomy. The cloud is darkly gathering. And yet it is but the beginning.

19. August 2, 1893 The Weekly Register Point Pleasant, WV
Article from The Weekly Register, August 2, 1893

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THE STRINGENCY Continues to Get in Its Work in Varlous Parts of the Country. INDIANAPOLIS, July 25.-The Indianapolis National bank, capital $800,000, has closed its doors. For some days rumors have been current to the effect that the bank was in trouble. For many years the Indianapolis National has been regarded as among the strongest banks in this city. The suspension of the bank is due to the general financial stringency. According to the statement of the bank made July 15, the loans and discounts amounted to $1,545,854.16, while the cash and securities on hand aggregated $683,000. The individual deposits subject to checks were $826,570.50. The bank was a United States depository, and had all the federal money in it, amounting exactly to $300,000. Another. The doors of the Bank of, Commerce did not open Tuesday morning. This was not unexpected, as the bank was owned by the Depauwsand the Depauw estate, and because of the failure of C. W. Depauw Saturday a run was made on the bank Monday. The bank is the oldest in the city and one of the oldest in the state. It has a capital stock of $200,000 of the Depauw estate. Mrs. Washington C. Depauw, N. T. Depauw and C. W. Depauw owned nearly threefourths. The first two named are worth $5,000,000 and are liable for twice the amount of their stock. Vice President John W. Ray says the Dervousness about the Depauw estate was the cause of the run. Assistance, he said, was promised, but was not forthcoming. He said that the suspension was only temporary.

20. August 5, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, August 5, 1893

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eceiver. dead body of Charles Severnwas found in the canal at LeIII. It is believed that he was rdered. J. M. Baur, of Durand, laid the ner-stone of the new St. Henry's at Eau Galle, with appropriate emonies. wenty-five orphans from New York were provided with homes in and Oshkosh by the Rev. Father olter, of St. Mary's church. rakeman Charles Orton, of the Big fell asleep while flagging a pastrain and was killed at CrawInd. Isville, Spreckles has arrived in San ncisco from Honolulu, and declares the provisional government of waii cannot last long. total internal revenue collections the government the past fiscal year $161,002,000, an increase of $7,over the previous year. Finlay, O., boys who were stolen band of gypsies made their esin the night, and a' party of is now after the kidnapers. S. Bright, grain dealer at CumberIa., fled after forging notes ag$8,000. His liabilities are about 000, while his assets are but $4,Chicago, Justice Wallace dismissed charge of adultery preferred inst Rev. Dr. W. W. Totheroh beof insufficient evidence. lowest prices in many years reached July 27 by a number of on the New York exchange. rain fall in the northern states week was deficient, according to weather bureau, and corn in Neand Illinois is endangered. Bank of Commerce, of Indianapoand the Indianapolis National with deposits of more than a dollars, were forced to close doors. surplus fund of the twenty-one banks of Chicago is $11,522,according to a statement issued Comptroller Eckles. A falling off deposits of 16 per cent is shown. freight train crashed through a on the St. Louis, Chicago and Paul road near Alton, III. ConductBurrill was killed and three brakefatally injured. Crossley. a Cincinnati attorhas made an assignment. His are $200,000 and his liabilities siderably larger. He had speculatlands. ahrman, Jacobs, Vogler and Repke, of the Molitor murder, have taken from Alpena, Mich., to to commence their life senboiler flue in the mill of the therwax Lumber company colat Olympia, Wash., instantly William Welch, fireman, and injuring three others. order of Secretary Smith reversthe practice of Pension CommisRaum in disability cases is found in line with a previous decision Assistant Secretary Bussey. monument to those who fell in battle with the Indians at Wounded was unveiled by the Seventh at Fort Riley, Kan. arence M. Overman, late president Citizens' bank at Hillsboro, Ohio, been arrested on the charge of ezzling $50,000 of the bank's fund with making false returns to the ptroller. W. Cannon, real estate dealer, M. Holter have failed at Helena, The former's assets are $1,500,liabilities, $240,000. Holter's liaare $600,000; assets, $1,000,000. and McAfee, the negroes confor the murder of Druggist have been taken from Indian-

21. August 9, 1893 Watertown Republican Watertown, WI
Article from Watertown Republican, August 9, 1893

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Mexico to unite all Latin-American nations in a monetary league to resist the depreciation in silver. THE revolution in Argentine is spreading. THE First National Bank at Birmingham, Ala., has suspended. THE tin plate factory at Atlanta, Ind., is in the hands of a receiver. BRIDGEMAN'S saw-mill at St. Cloud, Minn., burned. Loss, $20,000. BOILERMAKERS at Bay City, Mich., struck for a nine-hour work-day. W. B. RICHIE has withdrawn as Democratic candidate for governor of Ohio. A BLOCK of wooden buildings burned at Yonkers, N. Y., causing a loss of $100,000. A RECEIVER was appointed at Denver for the Hamilton Loan and Trust Company. THE Lorain Manufacturing Company failed at Elyria, O. The liabilities are $105,000. THE Savings Bank at Anthony, Kas., has failed. The county treasurer had $14,875 on deposit. CoL. C. H. JONES, of St. Louis, has taken editorial and managerial charge of the New York World. IN a battle between revolutionists and government troops in Buenos Ayres, 100 men were killed and 300 injured. OFFICERS of the Indianapolis Bank of Commerce have decided that it shall reopen in sixty days for business. THE gold in the treasury now exceeds the reserve limit, and issue of certificates will probably soon be resumed. VICE-PRESIDENT STEVENSON wasaccorded an ovation at Grand Forks, S. D., where he arrived from the Pacific Coast. LENA ECUBERT, 6 years old, of Massillon, 0., played with matches, set her clothes on fire, and was burned to a crisp. WILL JOHNSON, a colored prisoner charged with burglary, jumped from a train at Mexico, Mo., and was instantly killed. THE O'Brien wagon works at Lafayette, Ind., have been closed because 165 men refused to accept a 10 per cent. reduction. PRESIDENT AYLESWORTH, of Drake University, at Des Moines, Ia., has declined to be the Prohibition candidate for governor. IN districts in Kansas where hard times prevail the various religious denominations are combining in the interest of economy. JUDGE LARCOM, of New York, is likely to succeed Judge Blatchford on the supreme bench, though Judge Baldwin, of Connecticut, is being pushed. SIXTY tramps captured an east-bound freight at Tolleston, Ind., driving the train hands into the caboose, but fled on approaching Valparaiso. SECRET clubs are being formed throughout Indiana under direction of L. T. Michener in the interest of Harrison's renomination in 1896. THE works of the American Rubber Company at Cambridgeport, Mass., have closed down for two weeks, throwing 1,700 operatives out of employment.

22. October 3, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, October 3, 1893

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Another Bank Opens. INDIANAPOLIS, Ind., Oct. 2. - The Bank of Commerce, which suspended the latter part of July, reopened today. The sign "bank open" was displayed promptly at 9 o'clock. The first two callers deposited money and the third cashed a small check. There was no run on the bank, and throughout the day business went on at the bank as though nothing had happened. Cashier Bosson said the bank reopened in excellent condition, and cash with which to meet all liabilities.

23. October 6, 1893 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, October 6, 1893

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dollar of the Exposition's debt. John Bradley, A pilot, disappeared from the towboat Lizzie Gardner at Alton and is thought to have been drowned. A farmer near Nevada, Mo., was fatally poisoned through an error of his wife, who gave him aconite by mistake. In a battle between a sheriff's posse and two cowboys Wednesday near Verde Valley, N. M., the latter, Andy Dimond and R. G. Harris, were shot and killed. Marion Hedgepeth, the Glendale train robber was sentenced to 25 years im. prisonment by a jury at St. Charles, Mo. A wrecked lifeboat of the missing steamer Alvo has been found, strengthening the belief that the Alvo was lost with all on board. William Hunt, an old soldier, was found dead at Des Moines, Ia., with evidence of foul play. The police are investigating the case. The supreme council of Minnesota Knights of Pythias voted yesterday 31 to 10 against the admission of liquor dealers to the order. The case against the railroad officials at St. Louis, indicted for the violation of the inter-state commerce law were continued until the November term. Professor William Benjamin Smith has resigned his position as dean of the department of mathematics at the Missouri University, and accepted a professorship at Tulane University, New Orleans. Monday, Oct. 2. The Union Pacific system has withdrawn from the Western Passenger association. Company C, Kansas National guard, refuses to be mustered and threatens resistance with arms. William Baker. a farmer near Valparaiso. Ind., has sued Miss Emily Peters for $10,000 for breach of promise. At Purcell, I. T., a convention representing Oklahoma and the Indian Territory petitioned congress for statehood. Secretary Lesueur is after the corporations of Missouri who have not complied with the provisions of the antitrust law. Dr. Gray, a prominent druggist and physician of Tuskahoma, I. T.. is believed to have been murdered by hired Choctaw assassins. The baby reported missing from its cradle at Vandalia, Ills., has been found in possession of 16 woman who wanted to fool her husband. Animals believed to be escaped lions and panthers from a circus are creating a reign of terror in Douglas and Edgar counties, Illinois. The murderers of W. S. Walsh of St. Louis have offered to surrender at Santa Fe, N. M., if guaranteed protection from mob violence. The hazing cases, which brought Ohio Wesleyan university into disgrace, will not be tried in the courts. The students have paid the costs. The Colorado silver miners have made a proposition to the men to reopen the mines at wages scaled according to the market price of the metal. Mrs. Bell, wife of John Bell of Kansas City, created a scene in a Chicago court in a suit for the custody of her children by denouncing husband. the judge and assaulting her Tuesday, Oct. 3. Cowboys found the dismembered skeleton of a man near Nelson, I. T. Canada has refused to impose further strictions on Chinese immigration. The Presbyterians of Macomb, Mo., dedicated a handsome church. The congress of Mexico has authorized President Diaz to reform the postal laws. Joe Hardin, the Centralia train robber, admits that the outlook for him is very dark. The remains of Professor Procter, the astronomer, will be reinterred and a monument erected over them at New York. A mass meeting of miners was held at Springfield, Ills., and a demand made for an increase of from 40 to 45 cents a ton. Dr. William A. Cole, a man prominent in Masonry, medicine and politics, died at his home in English, Ind. New York detectives have arrived at San Jose, Costa Rica, to take charge of Embezzler Weeks, the erstwhile New York millionaire. Albert B. Stepherson, an authority. makes a careful estimate of this year's yield of cotton at 6,800,000 bales, 400,000 more than last year. A aged and wealthy Illinois farmer went to the World's fair, made theacquaintance of a waitress in a restaurant and forthwith made her his wife. Elmer E. Johnson, who was receiver at the Del Norte (Colo.) land office and disappeared last December, has been arrested at Fort Worth, Tex. The Northwestern Iowa M. E. conference adopted resolutions vigorously denouncing the old political parties for avoiding prohibition as an issue. Wednesday, Oct. 4. The Bank of Commerce at Indianapolis, closed since July, has reopened. The Germans of southeast Missouri held a reunion at Springfield. Illinois finances are improving, according to the report of the secretary of state. Jim Keenan, the old base ball player, was fined $10 in a Cincinnati court for beating his wife. Crazy over religion, a man at Lafayette, Ind., built an altar and sacrificed two hogs upon it.

24. October 13, 1893 The Iola Register Iola, KS
Article from The Iola Register, October 13, 1893

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THE WEST. THE Northwest Iowa M. E. conference adopted resolutions vigorously denouncing the old political parties for avoiding prohibition as an issue. THE barns, engine and power house, together with a large number of motors and trail cars of the Canton & Massillon (0.) electric railway, were totally destroyed by fire. Loss, $100,000. A PARTY of seven, out sailing near the entrance of Coos Bay, Oregon, were capsized by a gust of wind and B. M. Delouney, two children and John Wikland were drowned. Two ladies and a child held on to the boat and were rescued. RETURNS show that 115,000 obtained certificates for the strip opening. Two tramps were killed and two fatally injured in a wreck on the C., C., C. & St. L. near Edgemont, Ind. THE Pan-American bimetallic convention met at St. Louis on the 3d. CHILDREN under twelve years will be admitted to the world's fair on and after October 10 for 10 cents. The inmates of orphan asylums will be admitted free on certain days to be named by the council of administration. THE Bank of Commerce at Indianapolis, Ind., closed since July, has reopened JUDGE Cox, of the criminal court, and Judge Brown, of the circuit court of Indianapolis, Ind., have cited each other to appear on the charge of contempt at the same hour. C.F. MAXSON, the missing president of the Farina (III.) bank, has written his wife she will never hear from him again. From $12,000 to $15,000 is due his creditors. SERIOUS trouble is threatened between Catholics and Protestants at Pawnee, III., over religious exercises held in the public schools. JUDGE SHIRAS, of the federal court at Sioux City, has taken under advisement the application for a receiver for the Sioux City & Northern road. A REPORT received at Helena. Mont., says that Deputy Marshal Jackson made an attempt to capture the Northern Pacific train robbers and that seven of his posse were killed.

25. October 13, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, October 13, 1893

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INDIANA STATE SSeqpues SUM ะ‘ะžะ›ะฏ and killed at Indianapolis for money. THE Bank of Commerce.of Indianap lis, which suspended the latter part July, has reopened. Cashier Bos says the bank reopened in excelle condition, and had cash to meet liabilities. THE widow of Express Messeng Theodore F. McMahan filed a suit at Lafayette, as administratrix her husband's estate, against the Four railroad company. MeMahon killed May 7. EDWARD & ADAMS' grain elevate on the Wabash railroad, in Wabas burned. The building was a structure and held nearly 30,000 els of wheat, which is almost entire destroyed. One thousand bushels clover-seed were carried out. wheat was owned by the farmers but little of it was insured. The vator was the property of the Waba railroad company, and is said to been fully covered by insurance. losses on grain and buildings will proximate $25,000. The fire originat from the engine-room and spread great rapidity. LATE the other night Kumler & lord brought a $12,000 damage suit Lafayette against the Monon behalf of Frederick Gillespie, a aged 8 years. In August, 1892, the climbed upon a caboose platform of Monon road and was ordered off by Sujuna SUM upun PUL computer. the time. and the stern command of conductor. and the lifting of his (as is claimed he did). as if to kick off. frightened the little fellow and attempted to get off of the step. swung around under the wheel and foot was so crushed as torequire tation. THE grand jury, in session at bus, returned indictments against and Mary Lewis, John and Mary der. Henry and Annie Van Horne. Igle, Henry Mundt. John J. and Ham Leesman, for riotons cons acy in taking from her home Mrs. drew Schrader, at the midnight and unmercifully whipping her. shortest punishment for this offense two years in the state's prison. MR. AND MRS. JESSE ANDREW, of fayette, celebrated their sixty-fi wedding anniversary. Mr. Andrew eighty-seven and his wife eighty-fo and both in excellent health. were married in Hamilton, O., 8581 '2 THE other day Miss Dora Peters, siding near Pettit. Tippecanoe committed suicide by hanging to the rafters of the milk house. old keg and a pail were used as a form to enable her to adjust the about her neck. Miss Peters was sixteen years old. JOHN HOFFMAN, of Brazil, 50, a er, suicided by shooting. THE Indiana Iron Co., at made a proposition to their 500 start the big plant recently after idleness of four months, but the refused the offer by a unanimous The company wanted the puddler work for 84 instead of 85 per ton, the finishers to accept a twentyper cent. reduction. Two little boys of Hicks, Jeffer county, named Whittam and Tho respective 01 pus S pade 'uos went hunting pawpaws the other and became lost. Searching are out in every direction. As there are no tidings of the boys. The parents are almost tracted with grief. THERE have been 100 cases of