5081. Capital National Bank (Indianapolis, IN)

View Charter #4158 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4158
Charter Number
4158
Start Date
May 11, 1893
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
cad673762b8cf704

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Full suspension, Books examined

Description

Multiple contemporaneous articles (May 11, 1893) report a run and the suspension of the Capital National Bank of Indianapolis after the failure/suspension of the Chemical National Bank of Chicago (a correspondent) and heavy holdings of Premier Steel Works paper. Examiner took charge; the bank reorganized and reopened June 19, 1893. Some OCR errors in sources (e.g., Capital sometimes spelled Capitol in a headline) were corrected when extracting dates and facts. Amounts reported vary ($79,000 or $100,000 correspondent exposure; total assets/liabilities reported differently across papers).

Events (5)
1. November 13, 1889 Chartered
Source
historical_nic
2. May 11, 1893 Run
Cause
Correspondent
Cause Details
Runs and heavy deposit withdrawals triggered by disclosure that the Chemical National Bank of Chicago (a correspondent) held Capital's funds (reports cite $79,000–$100,000) and by exposure to Premier Steel Works paper.
Measures
Bank opened at 9 a.m. while seeking aid from other banks; directors closed doors when assistance was refused; bank examiner assumed charge.
Newspaper Excerpt
the bank opened ... pending an attempt to meet a run on it from depositors
Source
newspapers
3. May 11, 1893 Suspension
Cause
Correspondent
Cause Details
Suspension ordered after runs caused by the Chemical National Bank's failure which left Capital exposed for deposits/claims (reported $79,000–$100,000) and also because of large Premier Steel Works paper; directors closed doors and examiners were sent.
Newspaper Excerpt
The Capital National Bank ... has suspended. The closing of the bank's doors was made necessary by the failure of the Chemical National Bank of Chicago
Source
newspapers
4. June 19, 1893 Reopening
Newspaper Excerpt
The Capital National Bank ... resumed business this morning. There were only three men in front of the bank when Bank Examiner Young opened the doors at 9 o'clock.
Source
newspapers
5. July 1, 1912 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (25)
1. September 18, 1892 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 18, 1892

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THE MONEY TRANSFERRED Otto Frenzel Goes to the Capital Bank and Demands Iron Hall Money. Receiver Failey Gives Him a Check on the Capital for $140,000-No Notification Had Been Given, but the Money WasThere. It is not very often that a man walks into a bank, without a moment's warning, in the busiest part of the day, and asks the paying-teller to cash a $140,000 check, but that is what was done at the Capital National Bank yesterday. The man with the check was Otto Frenzel, and the check was drawn by Receiver Failey, of the Iron Hall, and was for that order's funds which the Capital Bank held. Mr. Frenzel got the money in cold cash. It was three trips that the paying teller made to the big vault, and each time he would pile up greenback. in five-thousanddollar packages, on his arm like cord wood, and dump it on his desk. Mr. Frenzel was obliged to send for assistance to carry it to his bank, but it was gotten over without accident, and Receiver Failey has it where he can put his fingers on it. A Journal reporter called on President Wilson late last evening, and questioned him as to the occurrence. "The demand was wholly unexpected by us, but we were perfectly able to meet it," he said. I have talked to Mr. Failey but once since his appointment, and that was immediately after it. He said then that he should want to transfer the money some time, but that he could not tell how soon, and that he would letme know. We have had no word since, but have thought it best to be prepared." Wasn't it a very unusual proceeding, Mr. Wilson?" was asked. "Well. yes," and the banker smiled cautionsly. "It wasn't just exactly business courtesy, was it?" "No; I shouldn't have asked them for such a sum without first sending them word. and asking them if it were convenient for them to pay it, and I don't believe one banker in ten would have done it." "Would they have closed you up. if you hadn't happened to have the money?" "I've no doubt of it." Mr. Wilson went on to say that he was at the telier's window when Mr. Frenzel called for the money. and that he was of the opinion that Mr. Frenzel was considerably surprised when the money was counted out to him. He had no explanation to offer for such an action on the part of the Frenzel bank. but had all the appearances of a man well pleased with himself for having defeated a scheme that might have worked some harm to him. When the conversation turned on generalities he made the remark that it was very peculiar how John Frenzel tried to ride rough-shod over everyone, and then said: "Well, he never will over me." in a tone that said as plain as words: "And he didn't do it to-day." It could not be learned last night whether any of the Iron Hall's funds had been drawn from any of the other banks or not, but it 18 believed that there has not. Attorney Hawkins was seen by a reporter and was informed of the withdrawal of the money from the Capital Bank. He refused to believe it, and it was not until he was told that the reporter had conversed with President Wilson about it he reluctantly admitted its truth. He then expressed the profoundest surprise that such a thing had been done. "I am sure that I bad no knowledge of it, and from a less authentic source should most positively refuse to believe it. As attorneys we have no control over Receiver Failey, and I can give no explanation of the affair."

2. May 12, 1893 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, May 12, 1893

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CHICAGO, May 11-Tue tional bank of this city suspended today The bank had offices in the Insurance exchange. The deposits are $1,400,000 and the capital $1,000,000. Rumors that the institution was in trouble have been current for the last week. It did business with small country banks, and was not in of esteem with the other banking concerns the city. Bank Examiner Sturgis assumed charge of the bank shortly after total the suspension was announced. The assets of the bank are placed at $2,250,000 the liabilities at $1,500,000. There run on the of the Chemical National, closing been and a constant bank since and close that the is what determined the directors to the doors. The Columbia was not a member of the clearing house. Lyman,J. Gage says that it made application for memberbut. after an examination affairs, it was ship of the a bank's year ago, statement denied. Presi- that dent Wiggins has issued a all the depositers will be paid in full. The president said that the immediate cause of the failure was the bringing of and & suit against it by the Sioux City Loan Trust company, which failed a few days The Sioux City concern at the time ago. of its collapse had $35,000 deposited in this the Columbia bank. When a draft for amount was presented the Columbia people refused payment, claiming that they had loans outstanding against the Sioux City company which equaled the amount the of the latter's deposit. The news of suit caused a run on the Chicago institution, which they were unable to stand. INDIANAPOLIS, Ind., May 11.-The Capital National bank suspended this morn- the inz. The statement is given out that saspension was caused by the suspension of the Chemical National bank of Chicago, which banked owed the Capital National large sum of money. The bank also H carried a large amount of the Premier Steel company's paper. The latter concern Friwent into the hands of a receiver last The bank is the depository for the a of building associations, of the suspension announcement day. number and came as a great shock to the people. A statement issued by the officers of fall- the Capital National bank states that the Chemiis due to the suspension of the cal ure National bank of Chicago, with which it had a deposit of $79,000. The statement liabilities further that the assets and says of the bank at the close of yesterday's business were $1,465,962 each. The officers the of the bank think that the affairs of be bank are in such shape that they can settled up without injury to the business interests of Indianapolis. The bank was not a member of the clearing house. None of the other banks here feel that there is any cause whatever for alarm regarding financial matters. WILMINGTON, Del., May 11.-R. R. Robinson & Co., bankers and brokers, of this city, failed today. The liabilities are at estimated at $300,000 and the assets $100,000. DeHaven and Townsend of Philadelphia the principal creditors. Their claims of amount are to about $60,000. The causes the failure, as explained by the firm, the are follows: The indorsement of notes, decline as in the stock market, carrying the stocks for customers and protecting stocks of customers without being taken protected by them. The sheriff has The charge of all the property of the firm. The failure has been expected for weeks. outstandinclude real property and in assets accounts. The firm was organized and ing and consists of H. C. Robinson his 1848, J. Norris Robinson. It is thought that son, the firm ultimately will be put on foot again. SIOUX CITY, Ia., May 11.-A receiver today appointed for the Sioux stock- City was works. on application of the Engine The assets of the company are at piaced holders. at $231,000 and the liabilities to the The failure is charged Sioux $200,000. City National bank, which failed to give credit for $35,000. Assignee Hubbard of the Union Trust Loan Trust company, the Hedges filed an and and D. Hedges, today schedcompany of the values of the assets Union estimate uled in the three assignments. The at $1,Loan company's assets are placed of $1,against an original estimare at $7,351,574, The liabilities are placed origin468,038. The assets of D. Hedges, down to 000,000. placed at $2,247,000. are cut at ally and the liabilities are placed $307,577, The Hedges Trust company's $1,022,000. estimated at $475,000 originally, discrepanassets, cut down to $183,018. The the are in both the latter cases lie between cies face value of securities and the assignee's estimate of their value.

3. 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.

4. May 12, 1893 The Morning News Savannah, GA
Article from The Morning News, May 12, 1893

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TWO MORE BANKS FAIL. The Columbia of Chicago and the Capital of Indianapolis Go Up. 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 the Premier Steel works paper. The latter concern was placed in the hands of a receiver on Friday last. ASSISTANCE REFUSED. 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 the assistance of 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 then at once closed by order of the directors. The first public intimation of the failure was the placard pasted in the window, and the excitement for a time was intense. A RUN ON OTHER BANKS. A number of people withdrew their deposits from other banks. The Bank of Commerce had quite a run. It is controlled by the DePaws, 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 emergencies and confidence was soon The restored. 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 Messrs. Wilson, Doherty and others are large stockholders and between which and the Capital intimate relations existed. The controller 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. A CRASH AT CHICAGO. Chicago. May 11.-The Columbia National Bank of this city has failed. In the report of the bank's condition, made by its officers at the close of business, May 4, the deposits were stated to be nearly $1,500,000. 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 $500,000. 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 to-day. This was done this morning, but the rival banks were not inclined to give temporary assistance 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 notice to that effect was posted on its doors. A BIG FAILURE AT WILMINGTON. Wilmington, Del., May 11.-The announcement this morning of the failure of R. R. Robinson & Co., bankers and brokers of this city, 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 it is said the assets will not exceed $100,000. The sheriff has seized all the property of the bankrupt firm. LONDON BANKERS 'SUSPEND. London, May 11.-Hallett & Co., navy agents and bankers, have suspended. The suspension has caused a sensation in military and naval circles at West End, as many officers are depositors with the company, but commercially the failure is of slight importance. The members of the company are James Alfred Hallett, William Charles Hallett and Wilford Hallett, and their place of business is 7 St. Martin's place, W. C.

5. May 12, 1893 The Herald Los Angeles, CA
Article from The Herald, May 12, 1893

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BANK EXAMINERS. Officers Detailed to Take Charge of the Suspended Institutions. WASHINGTON, May 11.-Comptroller Eckels has designated D. A. Cook, bank examiner for Illinois outside of Chicago, to take charge of the Columbia national bank of Chicago, which failed this morning, He also telegraphed Hugh Young, bank examiner for Western Pennsylvania, residing at Pittsburg, to proceed at once to Indianapolis, Ind., and take charge of the Capital national bank of that city.

6. May 12, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, May 12, 1893

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NOT IN GOOD STANDING. A Failure That Will Carry Down Country Banks. CHICAGO, May 11.-The Columbia National Bank of this city failed this morning. It had a capital of $1,000,000, and deposits of $1,400,000. Rumors that it was in tronble have been current nearly a week. It did business with small country banks mostly. It was not in esteem among the other city banks. Notices announcing the suspension were posted on the doors and soon after Bank Examiner Sturges took charge of it. By the authority of the Comptroller of the Currency the bank was reorganized two years ago out of the old United States National. The assets are estimated at $2,250,000, of which $1,000,000 are deposits, the remainder discounts. The liabilities are $1,500,000. A constant run since the announcement of the Chemical Bank snspension caused the directors to close its doors. A call for help was made this morning, but there was not time for investigation before responding to it and suspension came. The Columbia was not a member of the Clearing-house. The last statement, May 4, was as follows: Assets-Loans and discounts, $1,624,932; bonds, $341,258; furniture and fixtures, $12,718; exchange, $615,985. Total, $2,584,881. Liabilities-Capital stock, $1,000,000; surplus, $50,000; undivided profits, $41,931; circulation, $45,000; deposits, $1,437,950. Total, $2,594,881. President Wiggins says the immediate cause of the failure was a suit by the Sioux City Loan and Trust Company, which failed a few days ago. The Columbia had $35,000 on deposit with that concern, and the news of this fact led to the run which ended in the bank's collapse. A meeting of the officers and directors was held this afternoon and at its conclusion it was announced that the bank would probably resume busicess in a short time. Cashier Preston of the Metropolitan National Bank, through which the Columbia cleared. said to-night that the failure was not a bad one and that he saw no reason why the suspension should beanything but a temporary one. WASHINGTON, May 11.-Comptroller Eckels has designated D. A. Cook, Bank Examiner for Illicois outside of Chicago, to take charge of the Columbia National Bank of Chicago, which failed this morning. He has also telegraphed Hugh Young, Bank Examiner for Western Pennsylvania, residing at Pittsburg, to proceed at once to Indianapolis, Ind., and take charge of the Capital National Bank of that city. The Comptroller has been notified that the stockholders of the Chemical National Bank of Chicago will make good the impaired capital and resume business, paying all depositors, both the main bank and the World's Fair branch, in full.

7. May 12, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 12, 1893

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AN INDIANAPOLIS BANK GOES UNDER THE CAPITAL NATIONAL CLOSES ITS DOORSDOLLAR FOR DOLLAR PROMISED TO DEPOSITORS. Indianapolis, May 11 (Special).-The Capital National Bank of Indianapolis was compelled to close its doors this morning through the recent failure of the Chemical National at Cideago. The Chemical Bank, as correspondent of the Capital, held $79,000 belonging to the latter bank. and when the country banks heard of this holding they began demands on the Indianapolis. The bank also carried a large amount of paper of the Premier Steel Works, which was placed in the hands of a receiver last Friday. Dollar for dollar is the promise of President M. B. Wilson. The available assets are $200,000. of which $75,000 is in cash. The bank could have secured Eastern aid. but it was deemed best to suspend. as the holding of the Chemical Bank was considered an uncertain asset. It was reported early in the morn ing that the Chemical was to resume business, and this led the Capital to make a few payments, but when a telegram to the Chemical was unanswered after several hours the suspension sign went up on the doors. The bank was organized in 1889 with $300,000 capital stock, and pursued a conservative course. refusing, however, during the last few years, to enter the Clearing House. The stock sold recently at 123. The assets and liabilities at the close of the bank's business on Wednesday amounted to 81.465 962. None of the other banks in the city or the State are affected by the Capital's suspension. and an easy feeling prevails in business and banking circles. The other bankers believe all the obligations will be met. for the bank has enough cash on hand to pay 25 of per cent of depositors' claims. Hugh Young, Pittsburg, Bank Examiner of Western Pennsylvania, has been ordered to Indianapolis as special bank examiner to determine the exact condition of affairs. A petition was sent to Washington asking that John P. Frenzel, president of the Merchants' National, be appointed receiver of the Capital. About $50,000 of the fund raised for the Grand Army National encampment is in the bank. unsecured. The following are a few of those who hold the largest blocks of stock: P. H. Blue, Sullivan, Ind.: C. J. Doberty, M. B. Wilson. 11. A. Wymond, Indianapolis ; W. J. Lewis, Evansville: L. P. Sheerin, Logansport: E. S. Wilson, Olney, III., and Allen Tindolph, Vincennes, The suspension of the Capital National Bank of Indianapolis was a surprise to New-York bankers. Its correspondents in this city were the United States National and the Chemical National Bank. Neither bank will lose anything, the Indianapolis institution having credit balances. Henry C. Hopkins, cashier of the United States National Bank, said yesterday The failure was totally unexpected to us. The Capital National was considered sound and conservative, and if it needed assistance I have LO doubt it would readily be forthcoming. Judging by the telegraphed statements in the evening papers, it looks to me like a case of the officers losing their heads.' The bank has a large balance with us. and I believe will be found to be perfectly solvent."

8. May 12, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, May 12, 1893

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ate cause of the failure to a suit by the Loan and Company. failed a few days ago. which Sioux City Trust The Colum- that bia bank had $35,000 on deposit with and news of this fact a run concern, led to which ended in the bank's collapse. INDIANAPOLIS, May 11.-The Capital National bank, of this city, suspended today and the state bank examiner is in charge. The failure was caused by that of the Chemical National bank. of Chicago, which owed the Capital National bank a $100,000. The Capital bank also carried large amount of the Premier Steel Works' paper. and the latter went into a receiver's hands on Friday last. The bank was depository for a number of building associations The officials of the bank have made a statement in which they say that the capal stock was $300,000; that the bank did was run on a conservative aprofitable basis, business. and that there was bank's condition to cause last Tuesday, when in the till of the Chemical National bank, easiness f the Chicago, failure noth- unThe Capital in that bank and deposit National the had fact its with that bank caused distrust and This made the known, heavy 000 on occurred. relations drafts. having bank consequent balances that been $79, of 10 the Capital the financial best to try to get to the bank over, so it was to The bank has tide thought available decided not suspend. heavy present against stringency outside it assets was aid in of in addition to bank. The assets in over the $200,000 Chemical the the money close and liabilities of the Capital bank at The of business yesterday were $4,465,962. officers said the business was in such shape as to be readily settled up. There the are funds on hand to pay 25 per cent. to depositors, and its paper can be easily realized on, so there need be little delay in getting the balance. WASHINGTON CITY, May 11.-Comptroller the Eckles has designated D. A. Cook, bank examiner from Illinois outside of Chicago, to take charge of the Columbia National Bank of Chicago, which failed to this morning. He also telegraphed Hugh Young, bank examiner for Western Pennsylvania, residing at Pittsburg, to at once to Indianapolis and take of proceed charge of the Capital National Bank at city... The comptreller has been notified by stockholders of the Chemical National the bank of Chicago that they will make good impaired capital and resume business, main all depositors, both in the in paying bank and the World's fair branch, full. WILMINGTON, Del., May 11.-R. R. Rob- The inson, banker and broker. has failed. $100,000. liabilities are $300,000. and assets The sheriff has seized the property. A. McAllister, attorney for the com- and said: The liabilities, actual the contingent, party. are about $350,000 and nominal assets about $204,000. Judgment claims was confessed tonight. All trust are Sporx amply CITY, protected. Ia., May 11. E. H. Trust Hubbard, assignee of the Union Loan & Company, the Hedges Trust Company a of the D.T. Hedges, today filed estimates three scheduled in the The Union Loan assets, which were are assignments. Company's value of the assets placed & Trust at $1,531,574 as originally estimated, $1108,038 and its liabilities are placed origin- at $ ,000,000. The assets of Hedges, cut placed at $2,247,000. have been are ally $307,577. and his liabilities Trust down Naced to at $1,022,000. The Hedges estiassets, as the assignee these Company's were $475,000. but cuts down to company's liabilities are mated the assignee originally, $250,000. $183,018. The Today W M. Thompson was appointed Works, for the Sioux City Engine stock receiver application of N. Desparo:s. a is or The failure of the company bank, holder. to the Sioux City National $35,000. to give it credit for at assets of the company are . hich failed $200,000. placed $231,000. and its liabilities at holders of the Pack- the ing The Company. which was involved in to trust company's failure, now propose district in $95,000 on stock, and the of the pay judge ordered Receiver Chesley $6,000 now stock yard company. to pay for improvements. owing JOSE, Cal., May 10. The its Bank doors. of Santa SAN Clara County today closed the brought about by C.C. a shortage of from cashier covery This action that existed. was Haywards, and yesterday bank, died last week. manof the H. M. Leonard, vice president and that all of the directors This ager. informed existed in the books of inregularities Leonard filed a petition $190,000 afternoon the liabilities at that tixing The belief is and assets at $144,000. cashier used both Leonard and the dead mining the money for speculation in chedule stocks and realestate. Leonard $137,082 from had borrowed unsecured. showedthat the bank, and most of his notes are

9. May 12, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 12, 1893

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NewDork Daily Tribune FOUNDED BY HORACE GREELEY FRIDAY, MAY 12, 1893. TWELVE PAGES. THE NEWS THIS MORNING. Foreign.-Sir Charles Russell became angry at interruptions from Senator Morgan and Mr. Phelps while he was discussing before the Tribunal of Arbitration the seizure of Canadian vessels in Behring Sea. = In the House of Commons Mr. Chamberlain inquired why the Government's supporters offered so few amendments to the Home Rule bill; Mr. Gladstone replied that they would not be driven into obstructive debate. === The Earl of Aberdeen has been appointed Governor=== William Townsend, the General of Canada. would-be assailant of Mr. Gladstone, was committed for trial. Domestic.-W. W. Tracy, of Illinois, was chosen President of the Republican National League of Clubs by the Louisville Convention: the Convention adjourned after selecting Denver as the next place of meeting. The Columbia National Bank, of Chicago, and the Capital National, of The New-York CenIndianapolis, suspended. tral's new engine, No. 999, ran a mile in thirtyGovernor Flower vetoed several two seconds. important bills left in his hands by the Legislature. Dispatches to the State Department at Washington say that the revolutionists in Nicaragua have overthrown the Government and taken possession of the canal. City and Suburban.-The action of Grover Cleve land in restoring E. S. Stokes's rights as a citizen Mayor Boody. of was universally condemned. Brooklyn, testified for the defence in the Pigott trial. Boston defeated Brooklyn at baseBoats from the ball by a score of 9 to 8. American cruisers raced for prizes. == Several passengers were found to be suffering from smallStocks pox on the steamers Lahn and Gera. declined in the early dealings, became dull. and in the last hour rallied with great spirit. Final changes, 'were generally advances. Money on call was easy at about 3 per cent. The Weather.-Forecast for Friday : Fair and warmer. Temperature yesterday: Highest, 84 degrees; lowest, 56: average, 69 3-4.

10. May 12, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, May 12, 1893

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FORCED TO SUSPEND. The Columbia National Bank, at Chicago, Closes Its Doors. CHICAGO, May 11.-The Columbia National bank of this city suspended today. The bank had offices in the Insurance Exchange. The deposits were $1,400,000 and the capital $1 000,000. 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. As to the cause of the failure, those who should know say that collections on loans have been poor. The officers of the bank are T. Everingham, president; W. G. Bentley, vice president; Zimri Diggins, cashier; John T. Green, assistant cashier. Notices announcing the suspension of the bank were posted on the doors, and a few moments later James D. Sturges, bank examiner, assumed control in the interest of depositors and under authority of the comptroller of currency. The Columbia National was reorganized two years ago, out of theold United States National bank. Estimates by bankers intimate with its affairs make this showing: Assets, $2,250,000; liabilities, $1,500,000. A constant run on the bank since the announcement of the Chemical suspension decided the directors to close the doors. A call for help was made, but, as the bankers were not notified until this morning, insufficient time was allowed for an investigation and the request was denied. The Colnmbia was not a member of the clearing house. Zimri Dwiggins, the cashier of the Columbia, assigns as the immediate cause of the failure of his bank the suit which was brought against it by the Sioux City Loan and Trust company, which failed a few days ago. The Columbia was the Chicago bank with which the Sioux City concern did business, and their deposit in the bank at the time of their collapse in Sioux City amounted to $35,000. A draft was drawn on the Columbia for this amount. When the draft was presented by a man from Iowa the bank refused payment, claiming that it had loans outstanding against the Sioux City company which equaled the amount of their deposit. Immediately on this refusal of the bank to honor the draft, the company entered suit against the bank. The news of the suit spread and caused a run on the bank, which they were unable to withstand. A meeting of the officers and directors was held this afternoon. and at its con. clusion it was announced that the bank would probably resume business in a short time. Cashier Preston, of the Metropolitan National bank, through which the Columbia National cleared, said tonight that the failure was not a bad one, and that he saw no reason why the suspension should be anything but temporary. WASHINGTON, May 11.-Comptroller Eckels has designated D. A. Cook, bank examiner for Illinois outside of the city of Chicago, to take charge of the Columbia National Bank of Chicago. He has also telegraphed Hugh Young, bank examiner for Western Pennsylvania, residing at Pittsburg, to proceed at once to Indianapolis and take charge of the Capital National bank, of that city. Comptroller Eckels was today advised that the stockholders of the Chemical National Bank of Chicago, whose failure was recently announced, will make good the impaired capital as soon as the exact amount can be ascertained, and the bank will resuine busiit is ness. Every cent, asserted, that the will de- be paid, and it is understood positors at the world's fair branch have already been paid.

11. May 13, 1893 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, May 13, 1893

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MANY BANK FAILURES. Panic Stricken Bankers in Indiana Country Towns. DRAGGED DOWN BY THE COLUMBIA. The Panic Spreads to Michigan and Ohio Banks, and Several Suspensions Are Added to the List in These States-Pecullar Methods of the Columbia Bank. May 13.-The failure of the a Columbia CHICAGO, National bank has disclosed of shystering without a parallel and in system American banking. The president to of the Columbia is shown have manager organized about fifty small concerns and insignificant points in Indiana of at all of which were correspondents likely Ohio, broken bank, and it is scarcely the the that of them will survive. But litany were at places where there was be banks business the moral effect is likely to The tle serious than the actual business losses. in Columbia more had very little chiefly Chicago, and such as it had was were with customers who, like the bank, the without commercial standing. Hence business was not felt in reputable other failure and had it occurred at any half circles, time it would have been forgotten in an hour. PORTLAND, Ind., May 13.-A courier the Dunkirk announces the failure of confrom Dunkirk bank, which is owned and by Dwiggins, Starbuck & Co., filed of trolled Chicago. Attachments were at once to and deputy sheriff left immediately The a all the available property. the levy on has failed for at least $75,000, and bank may reach $100,000. The firm con- of trolling amount this bank owns a number and these are reported to havegone enothers, to the wall. The Geneva bank of their terprise also has failed. INDIANAPOLIS, Ind. May 13.-State Audi- ComHenderson was notified that the could tor mercial State bank, of Russiaville, its demands. The Commercial in not meet is one of about twenty banks Indiana bank that are thought to be connected as with the Columbia National. Perhaps to the private banks are also related many Chicago concern to some extent. Reports show other small places in the state banks. that from a panic has seized the smaller county, bank at Brookston, White (o statesuspended The yesterday afternoon. made. It of its condition has been ment controlled by the Columbia National. was banks of the Columbia Nationalstring said to The Moreystown and Greenwood are liabilities at have also failed, the latter with amounting to $60,000. The Moreystown bank is of considerable importance, having a capital addition of $75,000. to the above the following bank, In are reported: Citizens' suspensions Ind. Bank of Spiceland, SpiceHebron, Ind.; Monroeville bank, Monroeville, Ind., land, Commercial bank, Norristown, these Ind.; Citizens' bank, Knox, Ind. All of were and branches of the Columbia National Chicago. INDIANAPOLIS, May B.-The directors that the Capital National bank claim and of has been no loss on discounts, dollar. there not a department has lost a that bank, they say, is more than solvent. The will ask the examiner to permit They resumption after an examination. FORT WAYNE, Ind., May 13, -News Mer- of suspension of the Farmers' and reached chants' the bank at Geneva, Ind., has the here. It was the oldest institution of kind in the town. CINCINNATI, O., May 13. -The private & firm of Dwiggins, Starbuck failed. banking at Williamsburgh, O., has of the Co., failure is due to the failure Mr. The Columbia bank, of Chicago, of which is was cashier. About $8,000 the Dwiggins the Williamsburg bank from will due Columbia, all of which, it is thought, Williamslost. The postmaster at be ordered the arrest, for alleged burgh, embezzlement, of Lawrence G. Good, cusexpert accountant. He was taken in tody. O., May 13.-The Farmers' CONVOY, of this place, has closed its doors, bank caused by its relations with the Columbia National. EDWARDSBURG, Mich., May 13. -The Cit- its bank, of this place, has closed izens' About $25,000 of local deposits, todoors. gether with township and school funds, Chiare re affected. It was a branch of the cago Columbia. RICHLAND, Mich., May 13. -The Union a branch of the Columbia National bank, bank, of Chicago, has closed its doors. Cashier Watts says that the depositors will be paid in full and the bank running again in two or three days. CHARLEVOIX, Mich., May 13.-W. P. & Co., bankers, doing business unBrown the name of the Bank of Charlevoix, Kane. have der made an assignment to R. W. PAW PAW, Mich., May 13. Great excitement prevails at Lawton. The managers the in of a local bank there did not open town stitution yesterday, having left Thursday night. Citizens have about$18,000 deposited in the bank. LAWTON, Mich., May 13.-The American It of this city has closed its doors. bank controlled by the Columbia National business bank is of Chicago. Nearly every in the city is involved, besides depositors. many farmers man and others who were The deposits amount to about $30,000. SAN JOSE, Cal., May -The liabilities to the Santa Clara bank are now stated by of $300,000. Assurances had been given the be officers of the bank that the depositors would be paid in full

12. May 16, 1893 Evening Star Washington, DC
Article from Evening Star, May 16, 1893

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# The Examiners Report That the Situation is Much Better. State Bank Examiner Orlando Packard of Indiana last night said that his examination, together with United States Bank Examiner Young, into the condition of the Capital National Bank of this city showed thus far that the bank was in better shape than the report of President Wilson had made out, and if the Chemical of Chicago resumed there, would be no doubt of the resumption of the Capital here. Concerning the bank situation in Indiana he said it was decidedly better. There were runs Saturday reported from many places, all of which had been successfully met, and although the crisis might not be entirely over there was less danger to be feared this week. There have been in all ten failures of banks in the state as a result of the failure of the Columbian National of Chicago. It is announced by John W. Paris and J. Shannon Nave of Indianapolis that the banks in which they are interested will reopen within a few days. The Orleans Bank has been disposed of to Orleans capitalists and will, it is announced, resume business. The syndicate announces that it has about completed arrangements for the reopening of the other banks in its exclusive string. It is also stated that some of the banks operated by Dwiggins & Starbuck of the Columbian National will be reopened during the week.

13. May 19, 1893 The Iola Register Iola, KS
Article from The Iola Register, May 19, 1893

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WILLIAM C. RENFROW was inaugurated governor of Oklahoma on the 10th, but he is not governor yet, for President Cleveland has declined to sign his commission until he can incertain convention intervestigate THE biennial charges against of the him. national Y. M. C. A., at Indianapolis, Ind., met on the 10th with a large attendance. THE Vermont building at the world's fair was dedicated on the 10th and the event brought many New Englanders to witness it. THE Bank of Santa Clara County, Cal., closed its doors, having discovered an embezzlement of nearly $200,000. THE village of North Galveston, Ind., was almost totally destroyed by fire and five lives were lost in the flames. THOMAS NELSON PAGE, the southern novelist, will be married June 8at Elmhart. Ill., to the widow of the late Henry Field, of Chicago. A MARRIAGE license was issued at Clinton, Ia., for a boy of 16 and a girl of 13, the parents of each having given their consent. THE boilers in the electric light plant at La Junta exploded destroying the building, wrecking a planing mill near by and killing Charles Sheppard, the engineer. By the burning of the postal car near Goodrich, Cal., the entire eastern edition of the California Magazine for May was destroyed. THE Oklahoma G. A. R. has been in session at El Reno. THE mutilated remains of two men were found in a barrel at Kansas City, Mo. Investigation showed that medical students had been perpetrating an old'and horrible hoax. THE Columbia National bank of Chicago failed on the 11th. THE Capital National bank of Indianapolis, Ind., failed on the 11th. THE fifth annual congress of the Scotch-Irish Society of America met at Springfield, O., with President Robert Bonner, of New York, in the chair and many distinguished men as delegates. FIRE at Spring Lake, Mich., started by a spark from a passing steamboat, caused a conflagration which destroyed half the town. THE committee investigating the misconduct of Theodore Thomas, musical director at the world's fair, recommended that he be dismissed. JESSE JACKSON, Scott Bunner and Edward Newcomb, of the gang that blew up the Santa Fe express car at Wharton, I. T., last November and secured only a basket of grapes for their trouble, pleaded guilty and were sentenced to two years in the penitentiary. Gov. BOIES, of Iowa, has appointed a committee to investigate the report that Dr. Hill and his attendants of the state insane asylum had been guilty of brutal and inhuman treatment to patients, resulting in several mysterious deaths. THE failure of the Bank of Santa Clara, Cal., is now believed to be complete, all the assets having been wiped out. There are well-grounded reports of fraud, involving men of reputed wealth and much prominence. IT has been decided that for the present $1 shall be the price of an Isabella souvenir quarter. At this rate the board of lady managers will realize $40,000 out of the $10,000 appropriated to the woman's department of the world's fair-a bit of financiering unequaled by any act of the men connected with the exposition. THE houses of three prominent citizens who are prosecuting saloon cases at Muscatine, Ia., were blown up by dynamite. No fatalities resulted. AT a meeting of the local directory of the world's fair it was decided to open the world's fair on Sunday, May 21. A TORNADO SWEPT through Livingston county, Mich., doing a great amount of damage to farm property. QUITE a number of bank failures in Indiana resulted from the suspension of the Columbia National of Chicago. TROUBLE with the Navajos has been averted by the intervention of Chief Black Horse, who has succeeded in getting the murderers of Ranchman Welsh delivered up.

14. May 20, 1893 Macon Beacon Macon, MS
Article from Macon Beacon, May 20, 1893

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MISCELLANEOUS. THE prominent firm of Brueder & Wolf, manufacturers of carpets, Vienna, has failed. The liabilities are 1,000,000 florins. THE Capital National bank of Indianapolis, Ind., failed on the 11th. THE fifth annual congress of the Scotch-Irish Society of America met at Springfield, O., with President Robert Bonner, of New York, in the chair and many distinguished men as delegates. THE Columbia National bank of Chicago failed on the 11th. THE big levee at Lakeport, on the Mississippi, broke the other morning, flooding portions of Arkansas and Mississippi. FIRE at Spring Lake, Mich, started by a spark from a passing steamboat," caused a conflagration which destroyed half the town. THE committee investigating the misconduct of Theodore Thomas,musical director at the world's fair, recommended that he be dismissed. A POLICEMAN and four members of a drunken mob were killed in a collision at Durango, Mex. THE New York Central engine 999, which made a record of 100 miles an hour, beat the record by doing a mile in thirty-two seconds, which is equivalent to 1121/4 miles an hour. THE number of Chinamen complying with the registration law was 3,303about 8 per cent. FRANCIS H. WEEKS, a New York lawyer and defaulter, has fled. He owed margins to brokers and lost trust funds in speculation. NEW YORK banks make a better showing than for over a year. THE United States coast survey steamer was reported aground in the St. Lawrence. THE liabilities of Robinson & Co., the bankers of Wilmington, Del., are at $325,000 and suspended placed assets at had $200,000. The Knights of Pythias a large amount of the order's money in the bank. THE great sewing machine trust has died in its incipienoy. After the general details had been arranged and the combination of five companies had been believed assured the Domestic people suddenly announced that they did not care to consolidate. AT a meeting of the local directory of the world's fair it was decided to open the world's fair on Sunday, May 21. A TORNAI swept through Livingston county, Mich., doing a great amount of damage to farm property. CLEARING house returns for the week inended May 11 showed an average crease of 10.0 compared with the corre- New sponding week of last year. In York the increase was 12.9. QUITE a number of bank failures in Indiana resulted from the suspension of the Columbia National of Chicago. THE Robinson bank at Wilmington, Del., has failed. THE whisky house of W. H. Thomas & Son, an extensive concern at Louis ville, Ky., has failed. Liabilities over $500,000; assets as much TROUBLE with the Navajos has been averted by the intervention of Chief Black Horse, who has succeeded in get ting the murderers of Ranchman Welsh delivered'up Two masked men held up a Mobile Ohio train at Laketon, Ky., but gotvery little. S.T.K. PRIME, of crop report fame, in an interview says the financial condition of the farmers of the west and southwest is of the best.

15. May 20, 1893 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, May 20, 1893

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TELEGRAPHIC. 11 of Musdence and catine Journal of two and the city MUSCATINE, Ia., Molin May editor nostmaster of the of those in cases resecuting engaged citizens up were blown saloon keepers against this The early with morning forare wrecked houses no killed. tunately of 11 May The Bank Eng., of the disrate England 3 per from count LONDON today cent. to 31/2. The 11. May NAPOLIS, INDIA has city Bank Capital National The bank State Carended. Ind., of this examiner is in charge. Y. N. 11. The New May made Anday beat cord that 1121/2 valentito Butcentral miles! eng hour mile 10 32 second York of 102 Marday doing miles per hour. 11 Mo. The May head CIEY, KANBAS of men two less bodies and limbless in fl in Blue were ating barrel found last Their night. he and ds had limbs No blunt axe. been or ing cloth other was found. indicate river late that the off with meanes inden itication Iil., The ColumCHICAGO, bia failed Barl National It had capital morningMay of this city of $1, of It is depos SLA00,000. the poor was fulure col CO and This lapse loans. lections of a at that break caused Ind: of in the here. 21/2 wheat cents price the After May by order Presion dent creden their present on early auched touched before the country to the memory tials are The latter of public resol in terest tions James of reJames Blount, every ports. question include dinz of the olored, late from the eneech touching negro he Blaine. made of 8 the Southern recede Alabed neglect not and Grant. resowou Lincoln over lution cot read could and party hoped taken by immigranguage who be denied should A It was mosition declaring discus the that Emission English to olution this killed. the Union ouncing for refusing was country. New York A platform en ut tions, was adopted club of a Hebrew. the doctor Committee- mmittee It by section. by admission League to mended read by and with pride conrecomment then inted ablican a emof law adiday ployes in all clared tion to the during rassage Harrison their of calling pro- defaror of the the tect wage, greas for gance the sa of earners to intere:ts to the capital ermine interest the recomm declared by in the acis faith at for the the the and and labor labor, secret by ballot of backed up tion of supple Vections, ion the and system suppress or in food whether Pinkers on the Tracer De ballot first 404. Yourg's D. C. May of roduct. all was by elected a vote president of 902 to re10.-A from Honolu last came eaterday meet WASHINGTOON week mailed in April and ting. was port during he Gresham the cabinet chara it the is it contents Secretary by to cret, formati but presumed eident that the in time taken Owing to its were ntains kept such termined to cew 1030 to Mr. succeed Stevens minister of The 10. Cal, bank May SAN JOSE, its today closed, Clara Santa county doors. was about This action bythe of that from 3150, shortage discovery.com Hayw existed and last died cashier word manager the frectors informeted in the ties books. 000 to of the bank, president that and regularifiled patiThis Leonard new at of fixing liability and 44,000. the dead and both in for used cashier $190,000 belief is that money stock and estate. real mining Leonard's be hat bad showe borrow schedule of the most the from bank, $138,082 being cotes k 10. D. Fran WAS who stant WASHINGTON pringfield postmas. resigned, 30 ter general, native today of Spring H. Jones approvide of ted H first Clay field, Evans Ill., and the in Yale class up the atuay he bar veare of gradua age. ted from ediately took to the of engaged He was assembly of He '75 and of law. in Since the active Lamber practice from of Illinoia general 18 the presidistrict. Jones of clubs dent the league Democratic to last the and was He national Democratic ive has taken interhe in and and est State national of man 10 deliv been he of dedica at the Mr. inments. Jones on bag the State building instant. World's 10. ing May an oration oral Illinois the 18th reviewin BERLIN, at in field the the Temp tion of the Fair on While mplehofer the the today ordered German Emperor the officers guards imperial principal to and gsed him address gather as them follows: diea "I ly been have of in the late the zaichetage patriotism I will ing the hope if comthe but bill, the adop military to ad pt ing refuse should Reichetag bill the into am op carrytic determined effect despite unpatriptic that am alone tion. and the the with princes at TemThe emperor is excite the plehofeman people people speach causing, of the enor It ap Gazette German Those that eays who with ment forth leaded speak paus in word ing the ination sence a in the double heard the Empere unusual to to convey abide prohis declaration widespread be at every of his de There is that to not hesitate wid would ag Rateb it The the by Emperor and with bostile the to new the in bill. darese tell can you my my didly bill the ben Emp officere necessity to told you ing his felt the decision, as was first pro-

16. May 25, 1893 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, May 25, 1893

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# BANK REFORM. Suggestions Dealing With Evil Practices of Bank Officers. # A DESIRABLE BILL LOADED DOWN. Consequently It Was Killed in Congress- Loans to Bank Officers and Other Bad Doings to Be Watched. WASHINGTON, May 24.-Among the recommendations which are to be made to the next congress by the secretary of the treasury is a measure to limit the loaning of money of national banks to their officers and directors and to require a recorded yea and nay vote when loans to such officers are made. Such a bill was introduced in the last house and went through that body without much opposition, but it was loaded down in the senate by an amendment offered by Senator Sherman increasing the circulation of the banks to the par value of their bond deposits. This threw the bill into conference committee, and the conference report was never called up in either house. The new comptroller of the currency has had his attention forcibly called to the need of such legislation by several of the recent failures in the west. Big loans to officers had much to do with the failures of the Capital National bank of Indianapolis, the First National bank of Cedar Falls, Ia., and the Brunswick, Ga., banks. The officers of the Iowa bank were engaged in running a stock farm and borrowed largely of the bank to keep the farm going. Comptroller Eckles would like to break up such practices, and will do it as far as he can without waiting for new legislation. He will instruct his examiners to scan the books of the bank closely for cases of loans to officers, and will direct attention to the fact that he does not approve them. Another point to which the new comptroller is directing his attention is the original issue of bank charters. He proposes to exact additional guarantees of the standing and financial resources of the men who ask for charters, and will endeavor to satisfy himself of their responsibility before granting the authority, which is in his discretion, "to commence the business of banking." He will probably require from each incorporator a personal statement of his assets and liabilities and will ask the members of congress from the district to give some personal attention to the truthfulness of such representation before affixing his indorsement, as he is now called upon to do under the regulations of the treasury department. Mr. Eckles believes that it is useless to authorize institutions which are not strong enough to stand permanently on their feet, and that some discrimination should be exercised in authorizing them in communities already largely equipped with banking facilities.

17. May 27, 1893 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, May 27, 1893

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REFORM DEMANDED. Evil Practices of Bank Officers to Be Looked Into - The Cause of Late Fallures. WASHINGTON, May 24.-Among the recommendations which are to be made to the next congress by the secretary of the treasury is a measure to limit the loaning of money of national banks to their officers and directors and to require a recorded yea and nay vote when loans to such officers are made. Such a bill was introduced in the last house and went through that body without much opposition, but it was'loaded down in the senate by an amendment offered by Senator Sherman increasing the circulation of the banks to the par value of their bond deposits. This threw the bill into conference committee, and the conference report was never called up in either house. The new comptroller of the currency has had his attention forcibly called to the need of such legislation by several of the recent failures in the west. Big loans to officers had much to do with the failures of the Capital National bank of Indianapolis, the First National bank of Cedar Falls, Ia., and the Brunswick, Ga., banks. The officers of the Iowa bank were engaged in running a stock farm and borrowed largely of the bank to keep the farm going. Comptroller Eckles would like to break up such practices, and will do it as far as he can without waiting for new legislation. He will instruct his examiners to scan the books of the bank closely for cases of loans to officers, and will direct attention to the fact that he does not approve them.

18. June 8, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, June 8, 1893

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WEST AND SOUTH. WEAVER, GETZ & Co., one of the largest and most important firms in the coal business in Chicago, suspended with liabilities of $500,000. AT Roanoke, Ind., Christian Haberkus, ag41 72, while temporarily insane killed his wife, aged 70, and then took his own life. WHILE walking on the Central railroad near Milner, Ga., Rev. William Graham and wife were struck by an engine and both were killed. ON the Lake Shore and New York Central roads the fast train service was successfully inaugurated. The "exposition flyer," west bound, reached Chicago in 19 hours and 57 minutes, three minutes ahead of time, while that going east arrived in New York thirty seconds in advance. LOGAN H. ROOTS, a member of the Fortieth and Forty-first congresses, died from congestion of the brain at his home in Little Rock, Ark., aged 52 years. FLAMES destroyed the business por tions of Standish, Mich., and Newton, Miss. A CYCLONE in southwestern Arkansas destroyed a large number of houses and at Hope seven persons were injured, two fatally. IN Tennessee the Big Stone Gap Land company, capitalized at $2,000,000, has been forced into liquidation. THE creditors of ex-Gov. Foster in Cincinnati have ageed to accept fifty cents on the dollar. THE national bank of North Dakota at Fargo and the bank at Beresford, S. D., closed their doors. IN a collision between suburban trains at Austin, Tex., two persons were killed and ten injured. ON the world's fair grounds Montana's statue of Justice, made of silver worth $75,000, and standing on a gold pedestal valued at $200,000, was unveiled. AT South Upatoc, Ga., a cyclone wrecked several houses, destroyed plantations and killed Mrs. George Parker and her daughter. THE Capital national bank at Indianapolis has been given permission to resume business, but the request of the Chemical bank of Chicago to resume has been refused. JAKE GAUDAUR, of Canada, and James Stansbury, of Australia, will row for the championship of the world August 17 at Pullman, Ill. THE men discharged at Davenport, Ia., from the Rock Island & Pacific railroad for visiting saloons while on duty will not be reinstated. MUTHLEISEN & Co., wholesale lumber dealers at St. Joseph, Mo., failed for $150,000. THE town of Rosedale, Miss., was destroyed by a cyclone and five persons were killed and many hurt. AT Jefferson Springs, Ark., John Wallace (colored) was lynched by a mob of his own race. He had assaulted Ida Warren, a 9-year-old colored girl. A LARGE colony of Mohammedans will settle in Georgia. They have, through an agent, secured 25,000 acres of land in that state and the option upon as much more.

19. June 9, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 9, 1893

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CAPITAL BANK. Byram Will Probably Succesed Wilson as President-Raising Money to Resume. N. S. Byram will probably be the new president of the Capital National Bank, since President Wilson has resigned. The directors have not discussed a successor for Cashier Doherty, who also tendered his resignation at the same time President Wilson's went in. The directors have considered several other prominent business men's names in connection with the presidency of the bank, but so far Mr. Byram seems to be the most available man for the position. It will be necessary, for the bank to resume, to raise $200,000 in cash on the collateral which it holds, and it is believed that the selection of the new president depends upon his ability to raise the money on this collateral. The collateral is good, but the stringency in the money market renders it difficult to pledge this good collateral. The bank has nearly $400,000 in its vaults. The maturing ot paper held by the bank has done much to swell this fund of cash. It will be necessary, it is stated. for the bank to raise $750,000 in order to open its doors. Several depositors who have large sums in the bank have signified their willingness to accept deposit certificates running thirty. sixty or ninety days. These parties represent deposits aggregating over $100,000. With the cash on hand it would then only be necessary to raise a sum over $200,000 in order to open the doors. The selection of a vice president, after a president has been chosen. will be a matter of minor importance. Mr. Byram has heretofore only been mentioned as the new vice president. He may decline the presidency. The directors held no meeting yesterday. but will come together again this morning. It may be several days yet before the reorganization is completed, and even when the time allowed by the Controiler for resuming has expired. the directors may not be quite ready with the reorganization. It 18 believed, however, that the Controller will extend the time when it ie shown him that the directors are earnestly endeavoring to put the bank on its feet again. The first step will be, of course, to elect a new president. It is expected that the new people who come in the bank will buy out the interests of the Wilsons, which represent over one-third of the capital stock. The Wilsons have more than seven hundred shares at a par value of $100 a share. The $200,000 which must be raised could not probably be obtained in this city, and the collatteral would have to be taken to New York or some other money center. The directors say the report that the bank is to gointo liquidation is entirely without substance. A story appeared in an afternoon paper yesterday that some of the clerks employed by the bank were threatening to make disclosures on account of the printed statement that some of them were incompetent. Such a story, the officials think. is an improvisation and calculated to do the bank injury. None of the clerks have been discharged, although a number of them havefound other positions since the suspension.

20. June 10, 1893 The Indianapolis Journal Indianapolis, IN
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THE BANK'S NEW OFFICERS N. S. Byram Elected President of the Capital National Yesterday. M. B. Wilson Made Vice President and Doherty Remains Cashier-Will Resume on Monday, June 19. Norman S. Byram was elected president of the Capital National Bank yesterday afternoon. at the meeting of the directors. This selection was practically determined upon Friday. as announced in the Journal yesterday. President Wilson takes the vice presidency and Cashier Doherty was unanimously re-elected to his position, although he, too, had tendered his resignation. Smith, president of the Indiana bicycle works, was chosen to till the vacancy on the board of directors. The full board now consists of N. S. Byram, M. B. Wilson, C. J. Doherty. A. Burdsal, N. F. Dalton, P. H. Blue and S. N. Chambers. The directors stated yesterday that the board was perfectly harmonious in its aotions and that the best of feeling prevailed. The Controller will have to be notified of the bank's reorganization, and it will take at least three days before the notification can reach him, and then the directors will have to wait for his instructions to the bank examiner to turn the bank over to its officers. The Wilsons will continue to keep their holdings in the bank. A resolution was adopted at the meeting yesterday providing for the resumption of payments on Monday. June 19. The bank has succeeded by collections and arrangements in providing for the necessary $750,000 of cash. which it is believed will be amply sufficient to meet any run that may be made upon it. "We will have plenty of money when we open," said Director Chambers yesterday. in speaking of the reorganization. "We will not have the trouble reported in raising the necessary funds. Mr. Byram has been with the bank almost since its organization, and no man is better posted on the exact condition of theinstitution. He has been the chairman of the committee on discounts. and has passed on nearly all the paper in the bank. He is a man of high standing in the community. and is possessed of sufficient means to make his financial condition solid." President Eli Lilly, of the Commercial Club, when informed that the directors had elect d Mr. Byram president, said he thought such action would do much to restore the confidence that was needed in the case of a suspended bank resuming. Mr. Byram wasa man of high standing and considerable wealth, and had been actively identified with banking in this city for a long time. President Murphy. of the Board of Trade, agreed with Colonel Lilly.

21. June 19, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 19, 1893

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RESUMING BUSINESS. On the Whole the Worst of the Bank Trouble Is Over. INDIANAPOLIS, Ind., June 18. -The Capitol National Bank will reopen its doors to-morrow morning with $50,000 more cash on hand than is required by Comptroller Eckels. It is not thought that there will be any extraordinary rush to draw out the deposits which have been tied up. CLEVELAND, Ohio, June 18.-The Lake County Bank at Painesville, Ohio, which was forced to suspend last week because of a run is solvent. The statement shows assets amounting to $450,000 and liabilities of $350,000. ARMOUR, S. Dak., June 18.-The Douglas County Bank. located here, has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount. CHICAGO, June 18. - The report of the assignment of Hermann, Schaffner & Co., the insolvent bankers, shows liabilities of $2,350,011, with assets estimated as good of $1,894,905 and total sssets of $2,312,818.

22. June 19, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, June 19, 1893

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Bank Resumes Business. By Associated Press to The News. INDIANAPOLIS, Ind., June 19.The Capital National Bank, which suspended payment May 11th, resumed business this morning. There were only three men in front of the bank when Bank Examiner Young opened the doors at 9 o'clock. After several hours of basiness President Byram stated that the deposits today about balanced the amount drawn out.

23. June 20, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 20, 1893

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HAS REOPENED ITS DOORS. Public Confidence in the Capital National Bank Well Demonstrated. No Indications of a Run, and Deposits Came Close Up to the WithdrawalsOfficials Well Satisfied. The suspended Capital National Bank opened for business promptly at 9 o'clock yesterday morning. and when the curtains were pulled down at the usual hour in the evening, the total amount of the deposits received during the day almost equaled the amount of the withdrawals. It was an unusual circumstance in the history of suspended banks resuming. and it speaks volumes for the general business confidence in Indianapolis. The bank had $800,000 in cash ready to pay out if demanded, but the withdrawals did not exceed one-tenth this sum. At no time was there a heavy run, not over twenty-tive people being in line at the paying-teller's window at one period of the morning. In the afternoon it seemed that the bank was transacting its usual volume of business. The heaviest demands of the day were from small depositors and people who had received checks on the bank just before the suspension. Bank Examiner Hugh Young turned the institution over to the officials at9 o'clock, for at that hour his supervision ended. There were hardly half a dozen depositors at the doors at that hour and the first man to withdraw his deposit was a laboring man. Like others who followed him, he explained that he had confidence in the bank but needed the money which had been tied up. This was the general explanation of those who took out the sums they had in the bank. Within ten minutes after the opening the line of depositors increased to fifteen, and about that time men began to come in to make deposits and show their confidence in the institution and its new management. Many of these were South Meridian-street merchants. Other depositors came, and, after sizing up the situation, went away without asking for their money. On the Daying teller's desk were huge heaps of greenbacksand coin. Whenever the crowd threatened to become large a second Daying teller was put to work, and in this manner the line was thinned out at a rapid rate. The light run lasted about an hour. At noon Examirer Young stated that the bank had paid out about $50,000 and had received in deposits about $40,000. He was surprised that the demands were not greater, and intimated that it would have been better if the small depositors had, for the most Dart, been paid off at once. He thought when the bank opened the first days' withdrawals would amount to at least $200,000. The day's business, he said, showed an excellent financial condition in the city. President Byram was much gratified at the outcome. He said the deposits far exceeded his anticipations. One of the deposits amounted to $10,000. He said the bank had not yet considered the matter of entering the clearing house association. A policy will be determined upon as soon as the bank gets in good working order. Examiner Young left for Pittsburg yesterday afternoon. He has made many friends here during his stay.

24. July 29, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, July 29, 1893

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MUCH OVERSTATED The Effect of the Times on National Banks. ECKELS GIVES THE TRUE FIGURES. Number of Failures Multiplied by Two by the Press-Only 103 in the Hands of the Comptroller and Many Resuming Business, While Others Are Authorized So to Do-Some Late Collapes. WASHINGTON, July 29. - "Recent dis ptches having appeared in the newspapers," said Comptroller of the Currency Mekels to a reporter, "that since Jan. 1, 1893, 200 national banks have failed, I have prepared a statement that the public may be property informed. Instead of 200 having closed their doors but 105 have gone into the hands of the comptroller of the currency. Fourteen of this number have already resumed business under favorable conditions and possessed of the confidence of the communities where they are located, and during the ensuing week its is expected several others will have complied with the requirements of the comptroiler and reopened, while prior to Sept. 1 an equal number will resume. Out the total of 105 closed but thirty-seven have gone into the hands of receivers, the balance either having reopened or are still in the hands of examiners with strong prospects of reopening. Some Further Financial Facts. "Five of the 105 banks are capitalized in the amount of $1,000,000, one at $600,000, six at 85 0,000 thirty-six at $50,000, and the remaining at $300,000, $250,000. $100,000 and less, but more than $50,000; the greater number, however, being from $100,000 to $150,000. By ge graphical sections the failures are distributed as follows: New England states, 2: Eastern states, 2: Middle and Mississippi valleystates, 15: Northwestern states, 6: Western states, 55: Southern states, 25. Twenty-one states and territories have reported no national bank failures, as follows: Alaska, Arkansas, Delaware. Idaho, Louisiana, Maryland, Minnesota, New Jersey, Rhode Island, Vermont, West Virginia, Arizona, Connecticut. District of Columbia, Indian Territory, Maine, Massachusetts, Nevada, Pennsylvania, South Carolina, Virginia, Where Banks Have Stood the Strain. "No national banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, Buffalo, Cincinnati. St. Louis, New Orleans, San Fransisco, Minneapolis, St. Paul and numbers of other great commercial centers, and but one has closed in New York, two in Chicago and one in Milwaukee. The causes of the failures in New York and Chicago were due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks failed were robbed by officials, who are now under arrest." The compt.ollen said that fourteen other national banks have been authorized to resume business, one being the Capital National at Indianapolis and the others located at California, Texas, Utah, Washington, Missouri and Kentucky points. He added: "Many more will reopen, as the majority of those recently failed are absolutely solvent and only closed through an unwarranted lack of confiden e in them, causing disastrous runs. There areat this date 3,752 national banks in operation."

25. January 1, 1894 The Helena Independent Helena, MT
Article from The Helena Independent, January 1, 1894

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BUSINESS TROUBLES. Some of the Wrecks Caused by the Great Financial Depression. JANUARY. 6. Wickham & Co., wholesale fish dealers of Huron. O., failed for $250,000. FEBRUARY. 2. The First National bank of Little Rock suspended. 8. The banking house of F. V. Rockatellow at Wilkesbarre, Pa., closed its doors. 93. Beaupre, Keogh & Davis, wholesale grocers, assigned in St. Paul: liabilities over $400,000. MARCH. 13. The Atkinson House Furnishing company of Maine assigned in Boston: liabilities, $1,500,000. 14. The Kansas Trust and Banking company, at Kansas City, suspended, with liabilities of $800,000. 23. Dobbins & Dazy, cotton brokers. assigned in Nashville: liabilities, $1,000,000. APRIL. 7. The Northwestern State bank of Sibley, la., closed its doors; liabilities, $150,000. 12. The English, Scottish and Australian Chartered bank failed, with liabilities of £8,000,000. 20. The Australian Joint Stock bank failed for £13,000,000. 22. The Barik of Milbank, S. D., assigned, with liabilities of $100,000. 25. The Union Loan and Trust company of Sioux City closed its doors: liabilities, $750.000. 30. The National Bank of Australasia failed for £7,500,000. MAY. 1. F. H. Weeks, president of the Land and River Improvement company, West Superior, Wis., assigned. 8. H. H. Warner, the patent medicine manufacturer of Rochester, assigned: liabilities estimated at $500,000. 9. The Bank of Victoria, at Melbourne, suspended, with £2,400,000 liabilities. 11. The Capital National bank, at Indianapoled. lis. 8" R. Jinson & Co., bankers of Wilmington. Del., failed, with liabilities of over $326,000. 12. The Sioux City (Ia.) Engine works suspended; liabilities, $200,000. Thomas & Sons, whisky dealers in Louisville, failed owing from $150,000 to $400,000. 13. Bank failures at Orleans and Rossville, Ind., at Freeport, O., and Rockford, Mich. Steel company at Bellville, Ills., placed in hands of a receiver. Kendall & Smith, grain dealers of Lincoln, Neb., failed for over $250,000. 15. Erastus Wiman, & New York capitalist, made an assignment. 26. Ex-Secretary of the Treasury Charles Foster of Fostoria, O., assigned, with liabilities of nearly $1,000,000. 28. National banks at Fargo and Lakota. N. D., closed by the comptroller. JUNE. 5. The Kansas Grain company, owning 106 elf evators, failed. JULY. 18. Exciting bank panic in Denver. 25. The Erie railway went into the hands of receivers; the floating debt is $6,000,000. AUGUST. 2. The North American Packing and Provision company assigned in Chicago, with $750,000 liabilities. 4. Receivers were appointed for the business of J. H. Walker & Co., dry goods dealers, who succeeded to the Chicago trade of A. T. Stewart & Co.: debts, $2,000,000. 1 N. L. Carte & Co., the old tin plate importers, assigned in New York city: liabilities, $850,000. 9. R. H. Coleman, the "Iron King" of Lebanon, Pa., assigned. S DECEMBER. 1. Abe Stein & Co., heavy importers of goat skins, hides, etc., failed in New York for over $1,000,000. 4. Green B. Raum, Jr., general merchant and Indian trader at Perry, O. T., failed. The Citizens' National bank of Grand Island, n Neb., closed its doors. 5. N.J. Schloss & Co., wholesale clothiers in New York, assigned.