5731. First National Bank (Hammond, IN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
3478
Charter Number
3478
Start Date
August 4, 1893
Location
Hammond, Indiana (41.583, -87.500)

Metadata

Model
gpt-5-mini
Short Digest
5ac1ac95

Response Measures

None

Description

The First National Bank of Hammond closed its doors on Aug 4, 1893 to prevent the excitement of a run (precautionary suspension during the broader banking panic of early August 1893). It was later authorized to resume and did reopen in late September 1893. I classify the cause as macro_news (widespread bank failures/panic prompting precautionary suspension). Dates chosen are based on contemporaneous newspaper reports (Aug 4 suspension; late Sept authorization/reopening reported Sept 23-26).

Events (4)

1. March 31, 1886 Chartered
Source
historical_nic
2. August 4, 1893 Suspension
Cause
Macro News
Cause Details
Precautionary closure during the nationwide banking disturbances of early August 1893 (several other national and state banks closed that morning), taken to prevent the excitement of a run.
Newspaper Excerpt
To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank. In doing this act at this time it is with a desire to prevent the excitement of a run
Source
newspapers
3. September 25, 1893 Reopening
Newspaper Excerpt
The First National Bank, of Hammond, which suspended some weeks age, has been authorized to resume business on next Monday. / The First National Bank of Hammond, Indiana ... have been permitted to reopen their doors for business
Source
newspapers
4. February 3, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (12)

Article from Asheville Daily Citizen, August 4, 1893

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BANK KEEMBARRASSMENTS. Several of Them Close Their Dvors-One Resumes. WASHINGTON, Aug. 4.-Treasury officials are advised that the National German American bank of St. Paul, capital $2,000,000; the First National bank of Harmond, Ind., capital $50,000, and the Citizens' National bank of Muncie, Ind., capital $200,000. closed their doors to business this morning. Bank Examiner Gannon, on orders from Washington, closed Texas National bank of San Antonio, Tex., today. Comptroller Eckels has authorized the Farmer's National bank of Henrietta, Tex., to resume business. MUNCIE, Ind., Aug. 4.-The Citizens' National bank, one of the oldest and soundest banks in the city, suspended business this morning. Withdrawal of deposits and inability to realize on paper were the causes. President Kerwood claims assets as two to one. Three other banks in the city preparing for the worst, as the people are greatly excited over the failure. LEBANON, Aug. 4.-The Lebanon Trust and Safe deposit bank failed to open its doors this morning. The bank is a State institution with a capital of $50,000. ST. PAUL,Minn., Aug. 4.-The Peoples' Saving bank, one of the small concern, of the city, closed its doors at noon today.


Article from The Indianapolis Journal, August 5, 1893

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SUSPENSION AT HAMMOND, The First National Closes Its Doors to Prevent the Excitement of n Run. Special to the Indianapolis Journal HAMMOND, Ind., Aug. 4.-The First Na. tional Bank of this city failed this morning. At 9:30 o'clock the following notice was given to the public: To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank. In doing this act at this time it is with a desire to prevent the excitement of a run and to treat all fairly, and I wish to assure every one that while they will have to wait a little for their money. every dollar will be paid in full just as soon as M. M. TOWLER. money can be collected. No excitement was caused by the failure, as most of the directors are wealthy and is is believed they will see that the bank pays


Article from The Helena Independent, August 5, 1893

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BUSINESS FAILURES. The National German American Bank, of St. Paul, and Others. ET. PAUL, Aug. J.-The National German Amerioan bank, of this city. did not open its doors for business this morning. This step was rendered necessary by the steady drain upon its resources for several months, depositors having withdrawn $1,562,000 since January. The unsets are more than ample to meet all liabilities. The officers announce that they will pay all depositors, so that no loss will be BOS. tained. The closing of the doos caused some withdrawal of funds from other banks, but there is no partieular excitement or !uns on. This morning the People's Savings bank, with a capital of $200.000, suspended. The failure is not considered im: ortant. The West Side bank, cap. ital $100,000, closed its doo's at one o'olook. No statement has been made. The bank officials say they expect to resume in a few days. MILWAUKEE, Aug. 4.-Washington Reeker, as receiver of the Wisconsin Marine and Fire Insurance company bank. has begun suit in the superior court against John L. Mitchell. David Ferguson and John Johnson to collect unsecured promissory notes aggregating $600,000. JAMAICA, L. I., Aug. 4.-Frederick W. Dunton, president of the Bank of Jamaios, the Now York & Brooklyn Suburban Investment company, and the Boynton Bicle Railroad company, has made an assignment. Assets ample to meet all liabilities in time. CHICAGO, Aug. 4.-James H. Walker & Co., dealers in dry goods and one of the, largest fi me in the city, confereed judgment to-day on a note for $5,495. A reoeiver has been asked fo ; the amount involved, $2,000,000. NEW YORK, Aug. 4.-N. L. Cort & Co., importers of tin, tin plate and other metals, made an assignment to-day. Liabilities $350,000, assets unknown. 8. Jacoby & Co., cigar manufacture s. confessed judements aggregating $30,000; liabilities $150,000, assets large. DENVER, Aug. 4.-A receiver has been appointed for the Equitable Accident Insurauce company. Outstanding risks, $6,000.000, will be reinsured with the Union Casualty company. Trouble among the stockholders caused the failure. WASHINGTON, Aug. 4.-Treasury officials re advised that the First National bank of Hammond, Ind.. capital $50,000. and the Citizens National bank of Muncle, Ind., capital $200,000, closed their doors this morning. PNISTBURG, Aug. 4.-M. M. Stemple, Jr., President of the Pittaburg & Akron railroad. confessed judgment for $208,456 as a result of the failure of that road, which went into the hands of a receiver a few days ago. LEBANON. P1., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this morning. It is a state institution and has a capital of $50,000.


Article from Richmond Dispatch, August 5, 1893

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Short-Metre Telegrams. A royal decree was read in the Spanish Cortes yesterday adjourning the session. S. Jacoby & Co., cigar manufacturers. New York, failed yesterday. Liabilities. $150,000; assets, large. The Lebanon (Pa.) Trust and Safe Deposit Bank. a state in titution, failed to open itsdoors yesterday morning. The Peoples' Savings Bank. St. Paul, Minn., one of the small concerns of the city, closed its doors at noon yesterday. C.P. Barrett was arrested by United States Marshal Kirby at Spartanburg, S. C., yesterday for tampering with the mails. Messrs. Parrott Brothers. members of the New York Cotton Exchange, have announced taeir inability to meet engagements. The Scranton (Pa.) Lace-Manufacturing Company has temporarily suspended work in all departments except the finishing one. The Rome (Italy) Tribuna states that between Thursday noon and yesterday noon 20 new cases of cholera and 14 deaths were reported to the authorities in Naples. Florida has been ousted from the Horticultural Building at the Chicago Exposition, the State Commiesioners having shown no disposition to maintain a creditable exhibit. The Georgia Central railroad cut down the shop force at Macon yesterday, discharging 100 men. and a general reduction of 40 per cent. throughout the system is looked for. N. L. Corte & Co., importers of tin, tin-plate. and other metals, New York, made an assignment yesterday. Liabilities, about $350.000; assets, large, but the actual amount cannot be given. The Federal Department of Justice has ordered an appeal from the decision of Judge Davis in Southern California to the effect that the deporting section of the Geary act is unsonstitutional. The Hamilton-Brown shoe-factory. St. Louis, suspended operations yesterday morning temporarily, owing to the depression in business, and throwing 500 men and 400 women and girls out of employment. The First National Bank, the National Citizens' Bank, and the Mankato National Bank, of Mankato. Minn., closed their doors, but all three of the banks are solvent, and the suspensions are expected to be temporary only. The worsted-goods manufactory of John Bromley & Sons was closed Wednesday night on account of the depressed condition of trade. Last night Doak & Son, worsted manufacturers, were to close their mill for the same reason. James H. Walker & Co., dealers in general dry.goods, Chicago, confessed judgment yesterday on a note for 85,495 in favor of Edward Noah. The firm succeeded to the Chicago businoss of A. T. Stewart & Co., of New York. The preliminary trial of Malcolm Cameron for the murder of R. G. Roudebush was called at Canton, Miss., yesterday, and Cameron, entering a plea of not guilty of the charge, was bailed in $10,000 to appear before the Circuit Court. A meeting of the Dublin section of the Independent Nationalists (Parnellites), held yesterday for the principal purpose of arranging the programme of the coming Parnellite convention, voted against the acceptance of the home. rule bill. The directors of the Coal-Creek Coal Company met in Mobile last night to fill the racancies caused by the death of Gaylord B. Clarke, late vice-president and a director of the company, and Dr. O.L. Crampton, of Mobile, was elected vice-president, and Thomas A. McDonald director. Charles B. Mason has been appointed receiver ot the Equitable Accident Insurance Company Denver, Col. The outstanding risks amount to $6,000,000, and have been reinsured with the Union Casualty Company, which, it is claimed, will rully protect them. In a shooting scrape at Brook Haven, Miss., yesterday afterneon between Thomas F. Deceit and Oscar Stewart the former was shot through both thighs and the latter through the heart, Stewart being killed instantly. The difficulty as about a game of base-bail The grand jury at Memphis, Tenn. yes. terday inducted McLendon, Deputy-Sheriff J. A. Perkins, Jailer Harold, and Police Captains O'llaver and Hackett for falling to do their duty is permitting Lee Walker to be taken from jail and lynched and burned two weeks ago. The Federal treasury officials are advised that the National German-American Bank, of St. Paul, Minn., capital, €2,000,000; the First National Bank, of Hammond, Ind., capital, 850,000, and the Citizens' National Bank. of Munich. Ind., capital, $200,000, closed their doors yesterday morning.


Article from The Daily Morning Astorian, August 5, 1893

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BANKRUPT BREVITIES. The People's Savings Bank of St. Paul closed its doors yesterday morning. A receiver has been appointed for the Denver Equitable Accident Insurance Company; its outstanding risks of $6,000,000 have been reinsured with the Union Casualty Company. Trouble among the stockholders caused the failure. The closing of the doors of the St. Paul German National Bank yesterday caused some withdrawal of funds from other banks, but no particular excitement or runs. James H. Walker & Co., dry goods, one of the largest firms in Chicago, confessed judgment yesterday on a note for $5,495. A receiver has been asked for. The amount involved is $2,000,000. The First National Bank of Hammond, Ind., capital $50,000, and the Citizens' National Bank, of Muncle, Ind., capital, $200,000, closed their doors yesterday morning. S. Jacoby & Company, cigar manufacturers of New York, have confessed judgments aggregating $30,000. Liabilities, $150,000. The West Side Bank of St. Paul, capital, $100,000, closed yesterday. No statement has been made.


Article from The Seattle Post-Intelligencer, August 5, 1893

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CONDENSED DISPATCHES. The Lebanon Trust and Safe Deposit bank, at Lebanon, Pa., has suspended temporarily. The Osage Indians have refused to sell their reservation in Oklahoma territory to the government An unsuccessful attempt to wreck and rob a Wabash train was made on Thursday near Atlanta, Mo. Fire at Sangor, Cal, destroyed a livery stable and cremated eighteen horses Friday morning. Loss, $2,500. Fire at Princeton, Minn., early Friday morning destroyed the First National bank and seven other buildings. Loss, $50,000; insurance partial. The Karmis. which arrived in New York on Thursday from Naples, was held at quarantine to be disinfected. There were no cholera cases on board. The First National bank of Platteville, Wia, the First National bank, of Hammond, Ind., and the Citizens' National bank, of Muncie, Ind. have suspended. Dr. Isano Crook, late of the University of the Pacific, California, has been elected chancellor of Wesleyan university, at Lincoln, Neb., to sueceed Rev. C.F. Creighton, resigned. Filty officers and men attached to the department of Colorado, United States army. have arrived in Los Angeles from Santa Fe. This is in accordance with the recent order changing department headquarters Suit has been commenced against John L Mitchell, David Ferguson and John Johnson by Receiver Recker. of the Wisconsin Fire and Marine Insurance Company bank, to secure judgment on promissory notes aggregating $600,000


Article from The Herald, August 5, 1893

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BANIK FAILURES, Muncie, Ind., St. Paul, Minn., and Other Panic-Stricken Cities. MUNCIE, Ind., Aug. 4.-This morning the Citizens' National bank of this city failed to open its doors. A notice on the door said the assets were ample to pay all depositors. Hundreds of depositors congregated. The depositors of the Delaware National, Farmere' National and Merchants' National banks then commenced to draw out their money. The run continued until 4 o'clock this evening. Heavy deposits are being made by wealthy citizens to save the remaining three. WASHINGTON, Aug. 4. -The - treasury officials are advised that the First National, bank of Hammond, capital $50,000, and the Citizens' National bank of Muncie, Ind., $200,000,closed doors this morning. PLATTEVILLE, Wis., Aug. 4.-The First National bank closed its doors this morning owing to a heavy run. Assets $50,000 in excess of the amounts due depositors. ST. PAUL, Aug. 4.-The closing of the doors of the German American National bank this morning, as arranged for last night, caused some withdrawal of funds from other banks, but no particular excitement or runs. This morning the People's bank, with a capital of $200,000, suspended. No statement. The failure is not considered important. The West Side bank, capital $100,000, closed its doors at 1 o'clock. No statement has been made. The bank officials say they expect to resume in a few days. The comptroller of the currency has appointed Daniel W. Lawler of this city to take charge of the German American bank. LEBANON, Pa., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this morning. It is a state institution, and has a capital of $50,000. It is believed the suspension is only temporary.


Article from The Salt Lake Herald, August 5, 1893

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TELEGRAPHIC BREVITIES. An earthquake shock was felt at Leichster, England, last evening. A royal decree was read in the Spanish cortes yesterday adjourning the session. J. M. McGhee has been appointed postmaster at Douglass, Wy., vice Storrie, removed. A party of fifty officers and clerks attached to the department of Colorado, have arrived at Denver from Los Angeles. Between Thursday noon and yesterday noon, twenty new cases of cholera and fourteen deaths were reported in Naples. Representative Thomas B. Henderson, chairman of the Republican caucus, has issued a call for a caucus to meet Saturday evening. At Trenton, Mo., Joseph A. Howell was hung for the murder of Mrs. Nettie Hall and four children near Brookfield, Mo., in January last. At Vancouver Wa h., yesterday, Miss Mary Ball, sur rintendent of the Chinese mission school of Portland, was married to Charley E. Young, a Chinese merchant. Extensive forest fires raging a few miles east of Albany, Ore. Already many hundred acres of valuable timber have been destroyed and the fire is still spreading. disaster Treasury officials are advised that the First National bank of Hammond, Ind., capital $50,000, and the Citizen's National bank of Muncie, Ind., capital $300,000, closed their doors this morning. At Philadelphia John Bromley & Sons and Doal & Son, worsted goods manufacturers, and John Blood & Bros., hosiery manufacturers, have closed their plants. Four thousand men and girls are idle. The Platteville, Wis., First National bank has closed its doors, owing to a heavy run. Assets $50,000 in excess of amount due depositors. President Cleveland, Secretaries Carlisle and Lamont left Buzzards Bay for Washington yesterday. Mrs. Cleveland did not accompany the president. The nine Choctaw Indians who were sentenced to be shot yesterday at Wilburton were granted a further respite of one month.


Article from Eagle River Review, August 10, 1893

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NEWS PARAGRAPHS. A DISPUTE on the Smith farm, near Newark, O., about the division of cer wheat, resulted in the killing of man and the wounding of three others. PRESIDENT GREENHUT has stopped the of all products of the whisky trust because of the government order to tax at Chicago instead of New York. RALPH SMITH, a farmer living near Wabash, Ind., has disappeared, leaving wife and child in destitute circumstances. It is believed he has met foul play. LING SING, the private steward to Capt. Roth, commanding the United States revenue steamer Wolcott, is un der arrest at Port Townsend, Wash. charged with sunggling opium. THE secretary-general of the eleventh international medical convention, which to be held at Rome, September 24 cables from Genoa that the congress been postponed to April, 1894. FREDERICK HANLEY, a seventeen-year convict from Berrien County, and Charles Justice, doing nine years from Detroit, both for burglary, made their escape from the Jackson, Mich., penitentiary. THE differences between the Ameritinplate factory and the Welsh workmen at Elwood, Ind., who have been out on a strike, have been satisfactorily adjusted and work will be resumed. Two Italians, Charley Tirro, aged 25, and Giovanni Di Scenza, aged 21, were drowned near Detroit while bathing James Smith, a 13-vear-old boy, was drowned at Des-Chree-Shos-Ka by falling from the landing. THE boiler in the grist mill of Isaac Howell & Son at Pittsburg, III., explod with terrible force. The building badly wrecked. Isaac Howell was killed and William Howell was badly scalded and cannot recover. IN Red Lake River near Grand Forks D., John Bulgick, aged 13, Joseph Bulgick, 11; and Delold Cote were drowned. Two were engaged in a swimming race and both went down The third attempted their rescue, losing own life. EDWARD KUHN, the German farmer ai Shelbyville, Ind., who found strvehnine his food, has since discovered that it also in the flour and lard. He is slowly recovering. Detectives believe neighbor and relative is the criminal are not ready yet to give details. THE First National Bank of Hammond Ind., has suspended. MRS. KANUTE JOHNSON issuffering from leprosy at Des Moines, Ia. RALPH MCALLISTER, aged 18, suicided by shooting, at Morrison, III. JUAN BURGER, 13 years old, died a Kokomo, Ind., from cigarette smoking THE estate of the late Father Mollinof Pittsburg, amounts to $84,195.11 THE W. H. Livingston Company, of Sioux City, dry goods, has assigned Debts, $45,000. EDWARD JONES was shot and killed Thursday night at Bird's Station, Ind. by Charles Griffin. THOMAS GULEIFORD, of Chicago, was drowned while bathing in the Missis sippi at Muscatine. SHARPTOWN, Ind., was visited by a cloudburst which destroyed crops and drowned herds of live stock. MRS. CLARA GEE, a dentist of Grand Rapids, Mich., suffering from overwork drowned herself in a cistern. THE clothing of Mary Neiman, of St. Louis, 10 years old, was set on fire by a boy and she was fatally burned. KANSAS strikers assaulted miners in defiance of the injunction issued from: federal court. One man was hurt. DENVER'S City Council has appropri $15,000 for the purpose of employ idle men at work on the streets. Gov. RENFROW, of Oklahoma, has ousted regents of the agricultural college, charging malfeasance in office. BOBBY TAYLOR, fighting under the so briquet of the "Sailor Kid,' was killed a prize fight at Denver by William Robinson. THE Lebanon, Pa., Trust and Safe Deposit Bank has failed. It has a capita of $50,000. It is believed the suspension temporary. ARCHBISHOP REDWOOD, of Wellington New Zealand, who will attend the Cath Congress at Chicago, has arrived at San Francisco. RAILROAD officials say there is an immense coal tonnage in sight and expect the business to be four times greater than last year. WHILE intoxicated J.B. Milliken sat down upon the Lake Erie & Western tracks near Fostoria, O. He was run and killed. THE steamer Gibraltar while passing through the Straits of Belle Isle was struck by ice and completely wrecked Her crew was saved, THE Michigan Peninsular Car Compahas laid off over 1,500 men. P. J. Moss, the well-known railway contractor, died at St. Louis, aged 35. H. C. DITTMAR, the well-known turi correspondent, died suddenly at New York. Two men were killed and several injured by a boiler explosion at Mount Joy, O. WILLIAM ALSOP escaped from the Indiana prison south by deliberately walkaway.


Article from Union County Courier, August 17, 1893

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Telegraphic Clicks. THE First National Bank of Hammond, Ind., has suspended. JUAN BURGER, 13 years old, died at Kokomo, Ind., from cigarette smoking. THE W. H. Livingston Company, of Sioux City, dry goods, has assigned. Debts, $45,000. SHARPTOWN, Ind., was visited by a cloudburst which destroyed crops and drowned herds of live stock. SARAH T. BOLTON, who wrote "The Union Forever" and "Paddle Your Own Canoe," died in Indianapolis. DENVER'S City Council has appropriated $15,000 for the purpose of employing idle men at work on the streets. Gov. RENFROW, of Oklahoma, has ousted the regents of the Agricultural


Article from The Indianapolis Journal, September 24, 1893

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General Notes. Special to the Indianapolis Journal WASHINGTON, Sept. 23.-The First National Bank, of Hammond, which suspended some weeks age. has been authorized to resume business on next Monday. Charles Waltz was to-day appointed postmaster at Chambersburg. Orange county, vice J. M. Boyd. removed, and James Webster at Mountain Spring. Martin county. vice G. N. Baker. removed. D. H. Fenton, of Hammond, filed his ap. plication at the Treasury Department for the position of chief of a division in the treasury. Mr. Parker and Mr. Austin, of South Bend, have applied for the position of superintendent of the federal building at that city. President Cleveland spent the day At his suburban home, "Woodley," in order to avoid the constant interruptiona he is subjected to at the White House. The House committee on merchant marine and fisheries held a meeting this morning and decided to allow public hearings on Oct. 3 on Representative Fithian's bill providing for free American registers to foreign-built ships. Assistant Secretary Curtis has informed the collector of customs in Chicago that his action regarding the controversy between himeelf and the imperial commiss:onergeneral of Russia was warranted by the facts and law in the case. The committee authorized to select the model for a statute to Gen. John A. Logan has decided to accept that designed by Franklin Simmons. The monument 18 to be made of bronze, with the pedestal richly ornamented. It is to be placed ID the Iowa Circle, this city. An official statement prepared at the Pension Bureau shows that the total number of claims for pensions. now awaiting action at the bureau, is 700,279.


Article from Evening Star, September 26, 1893

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Banks Resuming. The following national banks, which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency, and their capital stock being unimpaired, have been permitted to reopen their doors for business: The First National Bank of Hammond, Indiana: the Milwaukee National Bank of Wisconsin, Milwaukee, Wis.