5595. Central State Bank (West Lebanon, IN)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
May 12, 1893
Location
West Lebanon, Indiana (40.270, -87.387)

Metadata

Model
gpt-5-mini
Short Digest
828e8b7ad55cdec6

Response Measures

None

Description

Articles from May 1893 report the Central (Central bank of West Lebanon) was running (heavy withdrawals) and likely to close temporarily due to the failure of the Columbia National Bank of Chicago (a correspondent/connected bank). No article states it actually suspended or closed permanently; coverage indicates expectation of a temporary disability but continued business.

Events (1)
1. May 12, 1893 Run
Cause
Correspondent
Cause Details
Run prompted by the failure of the Columbia National Bank of Chicago, with a named stockholder (Zimri Dwiggins) connected to both banks.
Newspaper Excerpt
The central bank of West Lebanon was running today, but will probably have to close, at least temporarily on account of the failure of the Columbia national bank of Chicago.
Source
newspapers

Newspaper Articles (3)
1. May 18, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, May 18, 1893

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Article Text

MANY BANKS CLOSE. Result of the Failure of the Columbia National of Chicago. CHICAGO, May 13.-Dispatches received here announce the suspension of the following banks, all of them due to their connection with Dwiggins, Starbuck & Co., of the Columbia national bank of this city, which closed its doors on Thursday: Bank of Dunkirk, Portland, Ind., liabilities estimated at from $75,000 to $100,000; Commer rial state bank of Russiaville, Ind., deposits, 560,000; Farmers' bank, Greentown, Ind.: priwater banking firm of Dwiggins, Starbuck & Co., at Williamsburg, O.; Ottawa bank, Elmore. O: Commercial bank of Morristown, Ind: Citizens' national bank, Boswell. Ind.: Commercial bank of Brookston, Ind.; Commercial bank at Walkerton, Ind.: Farmers' and Merchante bank of Genewa. Ind : Bank of Greenwood, Ind.; Bank of Orleans, Orleans, Ind.: Citizens bank, Hebron, Ind.: Farmers' and Merchants' bank, Casey, Ill.: Citizens' bank of Edwardsburg, Mich Bank of Lawton, Mich.: Bank of Oregon. Wis: Union bank, Richland, Mich: Spiceland bank, Spiceland, Ind : Citi zens' state bank, Knox, Ind: Central bank, West Lebanon, Ind.; banks at Oxford, Ind, and Arcadia. Ind.

2. May 18, 1893 Oxford Eagle Oxford, MS
Article from Oxford Eagle, May 18, 1893

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Article Text

Will Probably Have to Close. Artica, Ind. May 12-The central bank of West Lebanon was running today. but will probably have to close, at least temporarily on account of the failure of the Columbia national bank of Chicago. Zimri Dwiggins, president of the latter, is a stockholder in the Central. though it is said his stock is represented by a note. Most of the Central's stock is held by local people, who are amply able to pay all demanda made upon the bank. The general impression is that, though the Central will be temporarily disabled, it will continue in business

3. May 19, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, May 19, 1893

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Article Text

WIII Probably Have to Close. ATTICA. Ind.. May 12.-The central bank of West Lebanon was running to day, but will probably have to close. at least temporarily on account of the failure of the Columbia national bank of Chicago. Zimri Dwiggins, president of the latter. is a stockholder in the Central. though it is said his stock is represented by a note. Most of the Central's stock is held by local people. who are amply able to pay all demands made upon the bank. The general impression is that. though the Central will be temporarily disabled. it will continue in business.