First National Bank - Columbus, IN

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1066
Charter Number: 1066
Start Date: July 26, 1893
Location: Columbus, Indiana (39.201, -85.921)

Metadata

Model: gpt-5-mini
Short Digest: 46a0a6d6

Response Measures

Public signal of financial health, Capital injected

Description

Article (dated 1893-07-27) reports an extraordinary meeting of First National Bank stockholders in Columbus, IN, pledging personal property to assure depositors after wider banking alarm. No explicit suspension or closure is reported; this appears to be a response to depositor alarm/rumors and precautionary reassurance rather than a formal suspension.

Events (2)

1. April 27, 1865 Chartered

Source: historical_nic

2. July 26, 1893 Run

Cause: Rumor Or Misinformation
Cause Details: Depositor alarm/rumors amid wider regional bank disturbances prompted stockholders to pledge personal assets to reassure depositors.
Measures: Stockholders signed and published a statement pledging their personal property to ensure payment of all deposits.
Newspaper Excerpt: An unusual meeting of capitalists was held here last evening. It was a gathering of the stockholders of the First National Bank for the purpose of signing and publishing a statement that the stockholders... pledged their personal property for the payment in full of all deposits.
Source: newspapers

Newspaper Articles (1)

1. July 27, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 27, 1893

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Article Text

closed down yesterday evening owing to the failure. The company had a large deposit in the Indianapolis National Bank, and all its ready money is thus tied up. Louisville, Ky., July 26.--The financial situation was perceptibly easier here to-day. Yesterday's storm, which closed three banks, has relleved the surcharged atmosphere in money circles, and the worst is believed to be over. Those banks which have stood the drain until now are in little danger of going down, as the greatest pressure has passed over. The country banks, which caused all of the trouble, have done all the harm that lies in their power. The local situation has never been at all serious. A nunber of the smaller depositors, it is true. have taken alarm and withdrawn their deposits from some of the banks, but the drain from this source has not been sufficient to cause any embarrassment. Most of the banks received big bundles of cash this morning from outside places. One bank, which was the subject of rumor, raised $300,000 in Chicago, which placed It on a solid basis. Milwaukee, July 26.-Specials to "The Wisconsin" report two small bank failures in the interior of the State, viz., the German Exchange Bank at Portage and John Lienlokken, a private banker at Lacrosse. The Portage bank is capitalized at $25,000. No statement of assets or liabilities is given. Lienlokken's liabilities are placed at $10,000. Columbus, Ind., July 26.-AP unusual meeting of capitalists was held here last evening. It was a gathering of the stockholders of the First National Bank 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.