5806. 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: df4411df

Response Measures

Full suspension, Books examined

Other: Bank accepted payments on notes after suspension; examiners supervised reopening.

Description

The Capital National Bank of Indianapolis faced heavy withdrawals after the failure/distress of correspondent banks (Chemical National of Chicago and related Columbia-related string), suspended on May 11, 1893, under bank examiners' control, and subsequently reopened June 19–20, 1893. Causes in contemporary reports point to correspondent/defaults and ties to Premier Steel Works paper; I classify the immediate trigger as correspondent distress. OCR errors in some articles (Capitol vs Capital) were corrected—'Capitol' in a few items appears to be OCR noise.

Events (3)

1. May 11, 1893 Run

Cause: Correspondent
Cause Details: News of the failure/distress of the Chemical National Bank of Chicago (a correspondent holding $79,000 of the Capital's funds) and related collapses caused distrust and heavy withdrawals from Capital National.
Measures: Bank paid some deposits early in the day; ultimately directors closed doors and examiners took charge.
Newspaper Excerpt: The fact of the Capital's relations with that bank was known and caused distrust and heavy drafts.
Source: newspapers

2. May 11, 1893 Suspension

Cause: Correspondent
Cause Details: Directors closed the doors after heavy drafts following the Chemical National's failure and uncertainty about correspondent balances; bank examiner took charge and comptroller designated an examiner to Indianapolis to supervise affairs.
Newspaper Excerpt: The Capital National bank of this city suspended today. The state bank examiner is in charge.
Source: newspapers

3. June 20, 1893 Reopening

Newspaper Excerpt: The Capital National Bank, which suspended payment May 11, resumed business this morning. The suspended Capital National Bank opened for business promptly at 9 o'clock yesterday morning...the bank had $800,000 in cash ready to pay out if demanded...the total amount of the deposits received during the day almost equaled the amount of the withdrawals.
Source: newspapers

Newspaper Articles (25)

1. September 18, 1892 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, September 18, 1892

Click image to open full size in new tab

Article Text

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 11, 1893 Evening Journal Wilmington, DE

Article from Evening Journal, May 11, 1893

Click image to open full size in new tab

Article Text

Other Banks Wrecked. INDIANAPOLIS, May 11.-The - Capital National Bank of this city has suspended. CHICAGO, May 11.-The Columbia National Bank has failed.

3. May 12, 1893 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

AN INDIANAPOLIS SUSPENSION. The Capital National Bank Closes Its Doors. INDIANAPOLIS, May 11.-The Capital National bank of this city suspended today. The state bank examiner is in charge. The failure was caused by the Chemical National bank of Chicago, which owed the Capital National $100,000. The Capital also carried a large amount of Premier Steel works paper. The latter went into a receiver's hands Friday. The official of the bank made a statement, in which they say the capital stock is $300,000. The bank had done a profitable business, was run on a conservative basis, and there was nothing in the bank's condition to cause uneasiness till Tuesday, when the failure of the Chemical National bank of Chicago occurred. The Capital National had $79,000 on deposit in that bank. The fact of the Capital's relations with that bank was known and caused diatrust and heavy drafts. This made the balances 80 heavy against the Capital bank that in the present financial strin-

4. May 12, 1893 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

DOORS OF BANKS CLOSED, The Columbia National of Chicago Suspends. Likewise the Capital National of Indianapolis. A Delaware Firm of Bankers and Brokers Fails. Excitement Over the Failure of the Bank of Santa Clara County, Cal. The Bankrupt Sloux City, Iowa, Concerns. By the Associated Press. CHICAGO, May 11.-The Columbia National bank of this city failed this morning. It had a capital of $1,000,000 and deposits amounting to $1,400,000. Rumors that it was in trouble has been current nearly a week. It did business with small country banks mostly. It was not in esteem among other city banks. It is said the cause of the failure was poor collections on loans. This collapse and that at Indianapolis caused a break of 21/2 cents in the price of wheat here. Notice announcing the suspension were posted on the doors and soon after Bank Examiner Sturges took charge of it, by authority of the comptroller of the was ized currency. two years ago The out bank of the old reorgan- United States National. The assets are estimated at $2,250,000, of which $1,000,000 is deposits, the remainder discounts. The liabilities are $1,500,000. A constant run since the announcement of the Chemical bank suspension caused the directors to close the doors. A call for help was made was made this morning, but there was not time for an investigation before responding to it, and the suspension came. The Columbia was not a member of the clearing house. The last statement, May 4th, was as follows:

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

Click image to open full size in new tab

Article Text

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

Click image to open full size in new tab

Article Text

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

Click image to open full size in new tab

Article Text

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 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, May 12, 1893

Click image to open full size in new tab

Article Text

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.

9. May 13, 1893 The Wilmington Daily Republican Wilmington, DE

Article from The Wilmington Daily Republican, May 13, 1893

Click image to open full size in new tab

Article Text

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

10. May 16, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, May 16, 1893

Click image to open full size in new tab

Article Text

IN THE WORLD OF BUSINESS The Indianapolis Suspended Bank Soon to Resume. A DENVER BANKER ASSIGNS Sioux City Electric Line Goes Into a Receiver's Hands. Several More Anstralian Banks Succumb to the Pressure and Are Compelled to Close Their Doors-Much Uneasiness in London. INDIANAPOLIS, May 15.-United States Bank Examiner Young and State Bank Examiner Packard are going through the affairs of the Capitol National bank. Mr. Packard authorizes the statement that there is considerably more money in cash in the bank than was reported by the bank officers. The Capitol officers furnish a statement which indicates that within thirty days cash amounting to $380,000 will be available. They also claim that of the bank's $1,000,000 worth of paper all is good with the possible exception of $50,000, which may not be convertible at present into money and say that as soon as the Chemical of Chicago resumes they will be able to resume also, provided the bank examiners' report is favorable.

11. May 16, 1893 Evening Star Washington, DC

Click image to open full size in new tab

Article Text

# 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.

12. May 19, 1893 The Iola Register Iola, KS

Article from The Iola Register, May 19, 1893

Click image to open full size in new tab

Article Text

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.

13. May 19, 1893 Hot Springs Weekly Star Hot Springs, SD

Article from Hot Springs Weekly Star, May 19, 1893

Click image to open full size in new tab

Article Text

Assistant Adjutant General. The Capital National bank of Indianapolis, has suspended. The state bank examiner is in charge and a statement will be had soon. The statement is made that the closing of the bank doors was made necessary by the closing of the Chemical National Bank of Chicago, which institutionowed-the Capital some $100,000.

14. May 20, 1893 Macon Beacon Macon, MS

Click image to open full size in new tab

Article Text

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 Martinsburg Herald Martinsburg, WV

Article from Martinsburg Herald, May 20, 1893

Click image to open full size in new tab

Article Text

NATIONAL BANKS CLUSE. Trouble in Chicago and Indianapolis. The Failure of R. R. Kobinson & Co., Wilmington, Del. The Columbian National Bank of Chicago closed its doors and Mr. Sturgis, the bank examiner, is in charge. Its capital is $1,000000. The statement of its condition at the close of business on May 4th showed deposits of $1,458,000, loans and discounts $1,625,000, United States and other bonds, $341,000; cash and sight exchange, $616,000. The concern held a lot of local securities, which had been raided to the danger point. It was also carrying a lot of grain for local parties, and was said to be loaded with real estate. The concern had been in business about six years. It was formerly the United States National Rank, but changed its name, as it claimed then, in order to put it higher up in the alphabet in the bankers' directories, and thus get considerable business which would not come to-it further down the list. Zimri Dwiggins is the president. L. Everingham was formerly at the head, but retired about the first of the year. A great many board of trade firms carried accounts there, and the line of grain car ied by it will now go to other concerns. T. Everingham, the former president, had but a small account with the concern, and caused the announcement to be made from the gallery of the board that its embarrassment would not affect his firm in any way. The bank had offices in the Insurance Exchange. Rumors that the institute 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 in the city. As to the cause of the failure, those who should know say that collections on loans have been poor. -The New York correspondent of the Columbia National Bank is the First National Bank. The surplus and undivided profiss reported in January last were $91,769. INDIANAPOLIS BANK TROUBLE. INDIANAPOLIS, IND.-The Capital National Bank of this city, located on South Meridian street, suspended. The statement is made that the closing of the bank doors was made necessary by the failure of the Chemical National Bank of Chicago last week, which institution owed the Capital Bank $100,000. The bank also carried a large amount of Premier Steel Works' paper, a concern which was placed in the hands of a receiver last Friday. The bank is the depository fo a number of building associations. The announcement of the suspension of the bank came as a great shock to the people, especially in Meridian street, where the news was fist circulated. Some persons expressed the belief that the suspension would be only temporary. A general feeling of uneasiness, however, was manifest. FAILURE OF A DELAWARE FIRM. WILMINGTON, DEL.-The failure of R.R. Robinson & Co., bankers and brokers of this city, was announced. Rumors of the failure of the firm have been on the street for several days, and the business circles have been excited. The liabilities of the company 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 firm.

16. May 20, 1893 Arizona Weekly Citizen Tucson, AZ

Article from Arizona Weekly Citizen, May 20, 1893

Click image to open full size in new tab

Article Text

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-

17. May 23, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, May 23, 1893

Click image to open full size in new tab

Article Text

MONEY IS FLOWING IN. The Capital National's Paper Being PaidAn Offer of Assistance in Resuming. There is hardly a possible doubt now that the Capital National Bank. will pay dollar for dollar, and the bank's chances for resuming are excellent. Since it suspended over $100,000 in cash has come in from various sources, much of the sum being payments on paper held by the bank. It is known that fifty per cent. OF more of the deposits have been gathered together. The paper held by the bank. it is learned from an authoritative source, 18 good and a great deal of it is maturing from day to day and is being paid. The bank has authority to accept payment on all notes it holds after suspension, but it cannot aocept less than the interest which is to run on a note. One m&n wanted to take up a $10,000 note and stop the interest on it. but the officials were unable to do this. A large part of the bank's paper IS short term paper and becomes due in May and June. This 18 a big point in the bank's favor. The Capital National has $400,000 in sight and a capitalist of Indianapolis offered within the last few days to loan it $100,000 if fit wished toresume. If a total of $600,000 is secured the doors will probably open for business again and, it is stated. under the same management. Examiner Young will have his report completed by next Saturday and sent to the Controller.

18. May 25, 1893 Abilene Weekly Reflector Abilene, KS

Article from Abilene Weekly Reflector, May 25, 1893

Click image to open full size in new tab

Article Text

# 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.

19. May 27, 1893 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, May 27, 1893

Click image to open full size in new tab

Article Text

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.

20. June 19, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 19, 1893

Click image to open full size in new tab

Article Text

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.

21. June 20, 1893 Wheeling Register Wheeling, WV

Article from Wheeling Register, June 20, 1893

Click image to open full size in new tab

Article Text

CONCERNING BUSINESS AND FINANCE. WILMINGTON, DEL., June 19.-The bank of New Hanover did not open to-day and the following notice was posted: "Owing to the withdrawal of more than $320,000 deposits and notices of over $150,000 intended withdrawals maturing in a few days and also to its inability to realize quickly on account of the stringency of been the times, the bank of New Hanover has forced to make an assignment to Junius De- H. Davis in the interest of all concerned, positors will receive dollar for dollar and the business will be wound up as rapidily as possible. "W. L. SMITH, Cashier" [Signed.] The general belief here is that the failis entirely fair and honest. The assets are ure estimated at $1,200,000; the liabilities at $800,000. All unpaid collections of the Bank of New Hanover have been turned over to the Wilmington Savings and Trust Co. for remittance. The closing of the bank was followed by a run on the Wilmington Savings and Trust Co. and the bank was crowded with depositors. The bank is paying full amount on deposits of $90 or under and $90 on all larger deposits. No deposits under this rule can draw over $90 without thirty days notice. There seems to be no doubt of an entire solvency of the bank. COLUMBUS, O., June 19.-J. & G. Butler, wholesale grocers, assigned to-day to Chas. Butler. Liabilities, $50,000; assets, $80,000 to $100,000. Cause financial stringency in times. Been in business since 1854. INDIANAPOLIS IND., June 19.-The Capital National Bank, which suspended payment May 11, resumed business this morning. PITTSBURG. PA., June 19.-The third and final account of the assignee of the famous Penn Bank, which failed seven years ago for $3,000,000. was filed to-day. The balwill be sufficient to pay the per cent., or per cent. June creditors ance NEW on YORK, hand in one-eighth all. 19.-Justice Lawrence twelve Henry of the Supreme Court hasappointed J. Bracket receiver of the Cassel Publishing Company, in an action brought by H. S. director and former vice president that it has Archer. on allegations, financial become condi- insolvent. The company's tion is attributed to its president, Oscar M. Dunham, floating $168,000 worth of paper for his own obligations, it is declared. Dunham is said to have disappeared. The application for the appointment of a receiver was made by Gen. B. F'. Tracy as counsel for the Company, and Austin B. Fletcher, of No. 29 Broadway, who is attorney for many of the creditors. Henry J. Braker, the receiver appointed, qualifies in bond of $160,000. WASHINGTON, D. C., he 19.-Gradually and in the absence of export, the in the treasury is increasing. To-day it is $93,719,546, an increase since Saturday of more than $700,000 and a gain of nearly $5.000,000 during the past three weeks. The fact that American grain is now finding foreign markets is given as the reason for the cessation of gold exports and the fact that the west is receiving large quantities of money from the east accounts in large measure for the building up of the treasury gold, as gold is being deposited in New York for currency delivered by the government at western points. N. Y., June N. BUFFALO, 19.-Mr. temporary J. Adam was to-day appointed receiver of the George L. Squire Manufacturing Company by Justice Lambert in special term of the Supreme Court to-day and his bond was fixed at $50,000. Liabilities are about $200,000 and the assets $306,000. Cause, stringency of the money market. ALBANY, OREGON, June 19.-Lynn County Bank closed its doors this morning. The cashier says the liabilities are about $220,000, and assets $318,000. Depositors will be paid in full. NEW YORK, June 19.-The Eaton Cole and Burnham Co., manufacturers of brass goods at Nos. and 84 Fulton street, are in financial difficulties and a receiver is asked for. BOSTON, Mass., June 19.-The Little Kanawha Lumber Company. a Maine corporation, capital stock of $500,000, with $347,000 actually paid in, is financially embarrassed and has been placed in a receiver's hands. The assets are $1,100,000; liabilities, $785,000, consisting of negotiable paper.

22. June 20, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 20, 1893

Click image to open full size in new tab

Article Text

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.

23. June 22, 1893 The Middleburgh Post Middleburg, PA

Article from The Middleburgh Post, June 22, 1893

Click image to open full size in new tab

Article Text

LATER NEWS WAIFS. FINANCIAL AND COMMERCIAL The Lake county bank at Painesville O., which was forced to suspend last week because of a run, is solvent. A statement shows that the assets were $450,000 and the liabilities $350,000. INDIANAPOLIS. - The Capital National Bank has reopened its doors with $5,000 more capital on hand than required by Comptroller Eckels Norman S. Byram ex. Treasurer of State, will be president, N B. Wilson, formerly president, will be vice president. and Charles J. Doherty will remain as cashier.

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

Article from Rock Island Daily Argus, July 29, 1893

Click image to open full size in new tab

Article Text

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

Click image to open full size in new tab

Article Text

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.