6017. First National Bank (Lawrenceburg, IN)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
82
Charter Number
2889
Start Date
August 11, 1883
Location
Lawrenceburg, Indiana (39.091, -84.850)

Metadata

Model
gpt-5-mini
Short Digest
05cc19fe

Response Measures

Capital injected, Full suspension, Books examined

Other: Reorganization/stock purchase by another banking company discussed; state inspector examination underway.

Description

1883 reports state a slight run on Aug 11 that led the First National Bank to close/suspend on Aug 12; state inspector examined books and papers say the bank expected to resume operations (reopen) within days. Article OCR is poor (Article 2 heavily garbled) but clearly describes rumors and stories causing the run and an imminent reorganization/resumption.

Events (3)

1. August 11, 1883 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors made heavy withdrawals driven by rumors/ugly stories about the bank and its officers, causing a slight run on Aug 11.
Measures
Depositors withdrew funds; bank closed next day to avoid a larger run; state inspector called to examine books.
Newspaper Excerpt
It had a slight run yesterday by depositors, and feared a greater one today.
Source
newspapers
2. August 12, 1883 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank suspended operations after the preceding day's run driven by circulating stories/rumors; state inspector arrived and an examination began.
Newspaper Excerpt
The old First National Bank ... closed this morning and remained closed all day. The run which commenced yesterday caused them to close today.
Source
newspapers
3. August 13, 1883 Reopening
Newspaper Excerpt
They will be able to resume on Monday ... The reorganization almost accomplished ... will restore confidence ... the First National will resume business and transact as usual. (Aug 13 reports).
Source
newspapers

Newspaper Articles (3)

Article from Daily Kennebec Journal, August 13, 1883

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Article Text

ANOTHER BANK SUSPENSION. TheJFirst National Bank of Lawrence. burg, Ind.. Closes Its Doors. LAWRENCEEURG, Ind., Aug. 12. The old First National Bank. now the City National Bank, at this place, closed this morning and remained closed all day. The bank has a capital of $100,000. It had a slight run yesterday by depositors, and feared a greater one today. DeWitt Fitch is its president and Walter Fitch is the cashier, The Fitch family are the chief stockholders. and almost entire owners of the bank. They operate a large saw mill and have drawn on the bank themselves for their milling purposes. The run which commenced yesterday caused them to close today. State Inspector Hay arrived from Indianapolis tonight, and an examination of the books is in progress. The Fitches say the bank has $2 assets for every $1 of its liabilitis, and they will be able to resume on Monday, People here are not at all alarmed at the situation. Further particulars regarding the suspension cannot be learned tonight, owing to a failure of the telegraph wires to work.


Article from The Indianapolis Journal, August 13, 1883

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Article Text

BANKS. THE EMBARRASSED Na Now tional The Reorganization Almost of Accomplished. the First wn Its Kno The Banking Company To-Day The to Make City National Condition Bank, of Lawenceburg. of proposed plan for met the with such that it carried The National has almost certain and to much it where support the First that into execution, now and reassure that specify the busi was be fact has done restore confidence the First National this and On Saturday transact as business in community considerably was shaken. open all day usual, and full many and deposits the ed its drawing their was noticeabie those that who their depositors partially It among Banking others only were not Indiana The doors heavy depositors money. The closed all day. was Saturday complete Company were after kept development its whatever OD relations Na two banks. most important dissolution of The First was purexisted the between the by the other company being which $75, stock held consideration icate. all tional chased outright. the DePauw making in 000, by the double English its face value, with the have new will at once in accordance stockholders stock. about Nearly $225,000. all willingness the other to double their the by plan. signified their OFFICIAL indicated following English: raken vesterday The status official AN of affairs statement, is best furnished by Mr. in of Nathe First of all Indiana "Two matter o of the The first was bank and and the tional the bank etween and that The Banking held by render Banking difference Company of the two urrender stitutions. all stock and did balance sur the company separation reed First to National vesterday bank certain and the held stock other them in one-bair the of it as soon which 18 now step in of at are made besu to for relieve certain debts. zation was The an of imp the ution First adopted to in the pledge line of the reorgania board which of direct the he formal capital which, resol stock of National meeting bank, increa reasing $800,00 the stronges 18 to be was from 00,000 will make it The one newskholders, stock and ru carried out, the country amo ong the the lie to the freezing banks allotted problem rata gives to be any angaction. this effec actually there was holders in the equal and ification they within take mor that old stand exact from In out of the the holders three day their share the are All to decide they wish With to say $150,000. elected whether new or not. Company seen stock thus showing far have their entire all diana the Bankinfolders their stock thus rholders with have confidence double the of it the ca con- will Over seen. three ainty, of course that the atrong management managinary definitely steps been solute place under the the necessary the result will be were over re tike tem being lated, taken but soon. and Many eading banks that all the are KNOWD very westerday from the hope as DePau celved express take place Mr. but will the country would limited afternoon, left for return on and organizering home Monday H. En one glish of probably RUMORS AND known THEIR that buy William the controlthe First No sooner of the it National to were ugly stories of the that had was that ling number stock of xccedingly these, and the that one Mr. English caused nad its for used The first circulation, the bank of profiting by and the there greates caused the run the upon purpose John J. Cooper to effect suspension disaster; that had be large had deposits withdrawal by and Mr. of over the with there, others and that the special money deposit that he bad 000 together of and $37, depositer, this Cooper of the more $500.00 of State 400 of by $40, still an the the that bank wedge split Mr. go was that story English he ing said and could why about, a into put should circul An by other, another bad formed was told of not unde erstand falsehood of the First officer it, said rioned about there in it. an and of the attache In the any of that one character. truth quest whatezed it stockhold "ridicus bank Bank," was no bank characwith tion a the Mr. that had Mr with election the bank bank, lous. er of was told thing the rescue in of Indiana who did inter diana done porter generating rous the only men and that they of Na First fined from DePauw These were the of he doors business of would the have it at This who has could was apolis, for had closed the which this city it wontleman take was nu with tional blow to Mr. English, cot nected if Mr celved years that had if not matte been that is, would Mr the of the in the alone further such said more that The out Mr DePauw had been He had made no worth. the and was Delbeen Pauw started Mr. De Pauw than was been impaired English not officer giving of status were credit of the of stock as these leman, a with the and presen Mr the it. much Anoth Snother and one said conversance that untitled Mr. them He diabe- that the connection for the bank, of fairs, doing hatemunity. fact In that condean State times! half million DePande Cooper the story he more at was which loans, one Heved the nowe funds dollars mercentage entactice, and He likely vilations the London the thougake Thanks such funds better illegal for in caring one. for when bank, conspiracy, it an ex had and ubout The the in this city had saved stockholders the bank were all said no banker Mr. English the fact, the istence. and of that part of depositore, aware that the hankering un. to its of their knew had been Bank was all thankful Mr. He English First National too timid business for story that English, of the he different said, line some of ne only years ago, get true Mr. and prefers First a National and by the preswas on riting Since banker he left free the from incited there duty goes, window he has been the he fre bank Hord kouth the Tenness the upon Bankr "Attorney his office he assing heard wonder by heard offer bet Mr. p! Hord ricked near written the in con of them First National table to-day but all He twelkelk two men One with the dinner doori hear more put the Rebat would up his on his bar, and the close ears 10 drew a check the to


Article from The Dearborn County Register, October 6, 1932

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Article Text

First Local Bank Chartered In 1814 of Financial Institutions In Reviewed At Kiwan is Meeting H. O'Brien report proceedings at the Convention of Kiwanis French Lick was made District Trustee Elmer Schneider, the local club. Mr. Schneider touched upon the ious phases of the sessions, golf tournaments, stunt night, governor's ball. Elmer was there with his golf stick but found too short too weak to knock prize off the lobby table. Our nearMrs. Elmer brought glory to our local club by winning prize in the Ladies Golf The speaker believes thusiasm and dispatch occurs at ventions held in cities than at those which resort. Civie pride puts the former with spirit that is impossible in the case of the latter. The tópic for. the day, "Banking Functions in Young treated by O'Brien. Bemarvelous and natural for news, Mr. always listened to with the part of the In the early days of much trade the was by barter. The small, which doubt limited the number of Even before the state was admitted the union had bank. the Farmers and Mechanics Bank of Indiana, chartered 1814. This bank operated for more than years. The State Bank of Indiana began 1834 and succeeded by Bank the State Indiana, which 1865 transferred into national bank. and took on the name of the LawNational Bank. Later 1872 it became private bank known the ComThis 1875 pany. private bank with the Peoples Bank. to become in 1882 the Peoples National Bank. Back in 1863 was organized the First National Bank, which ceeded few months the City National Bank. It suspended business in August 1883. The Citizens National Bank was ganized by Dr. Hunter and H. O'Brien in 1891 and merged with the Peoples National Bank in 1905. The Dearborn National Bank organized 1905 and with the Peoples National Bank in 1931. The American State Bank was ganized in 1905. Space does permit the mention the leading families connected with the various banking institutions of the Lawreneeburg of the past. Many names have state and national importance. Next week: "Banking Functions in Lawrenceburg Now."