6116. Citizens National Bank (Muncie, IN)

View Charter #2234 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
2234
Charter Number
2234
Start Date
August 4, 1893
Location
Muncie, Indiana (40.193, -85.386)

Metadata

Model
gpt-5-mini
Short Digest
d300595a

Response Measures

Accommodated withdrawals, Capital injected, Full suspension, Books examined

Other: Local prominent business men signed a guarantee to pay all depositors; receiver appointed and later bank reopened.

Receivership Details

Date receivership started
1893-08-14
Date receivership terminated
1893-11-17

Description

On Aug. 4, 1893 the Citizens' National Bank of Muncie experienced heavy withdrawals/a run and voluntarily suspended payment. A receiver was appointed; the bank remained in receivership through October and received permission to reopen, and reopened in November 1893. Sources state assets were ample and local business men guaranteed depositors. Cause attributed to the broad monetary stringency/panic and rapid withdrawals.

Events (8)
1. March 15, 1875 Chartered
Source
historical_nic
2. August 4, 1893 Run
Cause
Macro News
Cause Details
Rapid withdrawals during the nationwide monetary stringency/panic and contagion from other bank failures leading to a drain on resources.
Measures
Directors posted notice of temporary suspension; leading businessmen signed guarantees to pay depositors; continued paying some demands earlier but then suspended.
Newspaper Excerpt
Withdrawal of deposits and inability to realize on paper were the causes.
Source
newspapers
3. August 4, 1893 Suspension
Cause
Macro News
Cause Details
Voluntary suspension by vote of the directors amid rapid withdrawals and inability to collect securities during the broader financial stringency. A receiver was later appointed to facilitate resumption (Aug reports).
Newspaper Excerpt
The Citizens' National bank... suspended business this morning. Withdrawal of deposits and inability to realize on paper were the causes.
Source
newspapers
4. August 12, 1893 Other
Newspaper Excerpt
A receiver will be appointed for the Citizens' National at Muncie. The directors have asked for one, and Examiner Ford has recommended that one be appointed.
Source
newspapers
5. August 14, 1893 Receivership
Source
historical_nic
6. October 31, 1893 Other
Newspaper Excerpt
Controller Eckels ... consent is given for the reopening of the bank ... as soon as certain conditions are complied with, and which will be met within a few days.
Source
newspapers
7. November 17, 1893 Restored To Solvency
Source
historical_nic
8. November 22, 1893 Reopening
Newspaper Excerpt
The Citizens' National Bank ... opened its doors on Monday, but has so far been unable to transact business, because of the failure of an $80,000 package of currency to arrive ... from the United States Treasury.
Source
newspapers

Newspaper Articles (20)
1. August 4, 1893 Asheville Daily Citizen Asheville, NC
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.

2. August 5, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 5, 1893

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Citizens' National, of Muncie, Forced to Temporarily Suspend Payment. Its Assets Ample to Meet All Liabilities, and Its Standing So Good that the Business Men Have Guaranted to Pay All Depositors. First National of Hammond, with Small Capital, in the Examiner's Hands. Receivers Appointed for the Big Chicago Dry Goods House of James H. Walker & Co.Other Business and Bank Failures. MUNCIE BANK SUSPENDS. The Citizens' National, with Ample Assets, Temporarily Closes Its Doors. Special to the Ladianapolis Journal MUNCIE, Ind., Aug. 4.-To-day the follow. ing was posted on the doors of the Citizens' National Bank: NOTICE-Onaccount of the rapid withdrawals of doposits and make collections, ordered by the board of directors that this bank tempo rarily suspend payment. The assets bank are ample to pay all liabilities, and depositors will be paid in full KERWOOD, President The Citizens' Bank is Muncie's oldest banking establishment, and one of the old. est in the State. President Kerwood saye: "On June 5 there was run on the bank and since that time there has been a con stant drain on the resources in the way of withdrawals of deposits. No one know what load we have had to carry, and we for done what have Muncie.' Judge C. E. Shipley one of the directors, the was seen at his office, and said: "Since financial stringency struck the country we have paid out nearly $300,000 We were expeeting $25,000 to our credit yesterday, but it failed to materialize. and we were forced to close our doors' Both of the above-named gentlemen and Cashier Marsh stated that the assets of the institution are double the deposits, and that every depositor will be paid in full, and they believed the suspension was only tenidorary The leading financial men of the city, rep. resenting over one million dollars, have prepared and signed the following state ment: MUNCIE, Ind., Aug. 4, 1893. In consideration that the individual depositor in and with the Citizens National Bank, the Farmers National Bank, the Delaware County National Bank and the Merchants' National all in Indiana will not unnecessarily withdraw their deposits from said banks, or either of them, we, the undersigned, hereby guarantee that said depos. itors, and each and every one of them, shall be paid said deposits, and each of them in full. The original of this guarantee is on file in the office of the recorder in and for Del. aware county The amount of deposits of the Citizens' National is $212,000; resources, $641,000 capital stock, $200,000. What Controller Eckels Says. Special to the Indianapolis Journal WASHINGTON, Aug. 4.-About noon to day Con troller of the Currency Eckels received a dispatch from Muncie, stating that the Citizens' National Bank, of that city, had suspended payment t. by a vote of its directory. The announcement was a great surprise to the officials in the Controller's Office, as the Citizens' was regarded one of the most conservative and solid financial institutions in the State. and the report upon its condition on July 12 last showed the bank to be not only solvent, but in a good, healthy condition. 'The failure of the Citizens' National Bank, of Muncie," said Controller Eckels to the Journal correspondent, this afterBOOD, 'only shows again the unwisdom of depositors becoming panicky and withdrawing their funds from sound financial institutions. I have examined the state. ment of the condition of the Citizens Bank made on the 12th of last month. and in my judgment it is one of the safest banks in the country; but any bank can be closed. if depositors become With capital of $200,000, and surplus and undivided profits aggregating almost half that amount, the bank could pay two dollars for every one of its liabilities if it could realize on its securities. 'I he suspension was the luntary act of the directors, and ha no doubt that it will be only temporary have directed Mr. Ford. the bank examiner for Ohio, to go to Muncie and make 8D amination. with a view to facilitating it early resumption of business. and doubt not that it will be only a few days tillit opens for business. I do not apprehend receiver will be necessary. You may say to the bank depositors at Muncie. continued the Controller of the Currency, "that careful examination into the condition of the other three national banks in that city warrants me in declaring their all safe, sound and solvent beyond question, and that I regard it the duty or depositors in such banks to stand by them during times like these. The depositors in such banks can lose nothing and they owe it to themselves and their city and county not to become frightened, but to stand steadily by their bankers. Control Eckel le stated, further, that was his policy to lend every assistance to national banks hich have been, or may be closed. under such umstances as sure round the Citizens National, at Muncie, and enable them to reopen with the least possible delay He pointed to statement which he had received, to-day. from Ken. daliville, howing that the national bank which had there recently suspended payment had received deposits on the first day it reopened amounting to nearly $15,000. That shows, said Con. troller Eokeis, 'how quickly bank hon. estly conducted can regain public conti dence, There is no sense in depositora funds withdrawing their which they would know were sound if they would make little inquiry. When withdrawals dono good and much barm. men who now have money in banksshould refuse to draw it out, but keep it w here it is, simply to maintain confidence for the moment one man takes out his money from fright the scare becomes contageous and much harm is done. The closing of the First National Bank, of Hammond, reported this morning, is not regarded as important at the office of the Controller of the Currency. The bank has but $50,000 espital and not much more of deposits; it had surplus fund and undi vided profits which is believe will, with the capital, aggregate as much as the dethe the 80 that if bank affairs posits have been honestly managed both the depositors and the stockholders will be safe, A.M. Fowle is president and Edward] Fowle cashier. Representative Hammond said this afternoon that the other bank there, a private institution. was safe and sound, having no connection with the national, and that it would weather the storm. Examiner Packard has been placed in charge of the First Nasional.

3. August 5, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, August 5, 1893

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Sought Relief in Death. Chicago, August 4.-Nelson Van Kirk, a Board of Trade member, shot himself dead this afternoon in his office in the Rialto building. He was 75 years old and a member of the firm of Van Kirk & Osten, which went bankrupt a month ago. After the failure he had reorganized his affairs and resumed trading. Today he was again forced to the wall. He went to the office and killed himself. Reading Reduces Time. Reading, Pa., August 4.-Orders were posted today in all the shops of the Reading Railroad reducing time to five days a week. Will Run Five Days a Week. Easton, Pa., Aug. 4.-Orders were received at the Lehigh Valley shops today putting every department on short time. Until further notice the mill shops will be run five days a week. About 400 men are affected. Only a Precautionary Measure. Rockland, Me.. Aug. 4.-The Rockland Savings Bank and Thomaston Savings Bank following the course pursued by others banks, are requiring 30 days' notice under the state law upon the withdrawal of deposits. Both these banks are in the soundest possible condition and no fears of withdrawals are apprehended, but they|take this precaution against possible contingencies and loss to depositors from the sacrifice of securities. World's Fair Hotel Closed. Chicago, August 4.-The Title and Trust Company has been appointed receiver for the Nacirema hotel, a World's Fair enterprise at Grand Crossing. The company was organized with $20,000 capital but has not enjoyed a lucrative patronage and has no funds now with which to pay its debts. Caused No Excitement. San Antonio, Tex., August 4.-The Texas National bank failed to open its doors this morning and is now in the hands of the United States bank examiner. The capital stock is $100,000. The closing eaused no excitement and no runs on other banks. The Failures of the Week. New York, August 4.-R. G. Dun & Co.'s review of trade for the week says: Failures during the week number 436 in the United States, against 160 last year. Bradstreets reports 459 failures in the United States this week, against 155 this week a year ago. Some of Yesterday's Failures. The Citizens' National bank, Muncie, Ind., has suspended. The People's saving bank, St. Paul, Minn., has closed its doors. Yeager Brothers, Ligonia, Ind., owner of several saw mills and stores have failed. The Lebanon, Pa., Trust and Safe Deposit bank failed to open its doors yesterbay morning. The Woldstock Yarn mills of Norristown, Pa., have been closed under an excution on judgment for $151,000. Two hundred hands are idle. Thursday Wiliam Zemple of Allegheny City, president of the Pittsburg, Akron and Western Railroad Company, confessed a judgment to the amount of $208,000. The action is merely a precautionary measure, and it is thought will not lead to any futher financial troubles. James H. Walker & Co., of Chicago, dry goods, have confessed judgment on a note for $5,495, and made formal applicaion for the appointment of a receiver. So far as developed the suspension of business involves $2,000,000. Parrott Bros., members of the New York Cotton Exchange, have announced their inability to meet engagements. The Baraboo, Wis., saving bank has made an assignment. S. Jacoby & Co., cigar manufacturs, East 52nd street, N. Y., have confessed judgment to an amount of $28,000,

4. August 5, 1893 The Helena Independent Helena, MT
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.

5. August 5, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, August 5, 1893

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BUSINESS TROUBLES. Places at Which the Panie Got in Its Deadly Work Yesterday LEBANON. La., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this It is a state a of $50,000. It is morning. capital institution believed and that has the suspension is only temporary. 4. James Co., in one CHICAGO, dealers Aug. dry goods, H. of the Walker largest & firms in the city, confessed judgment today. A receiver has been asked for. The amount involved is a million dollars. PHILADELPHIA. Aug. 4. John Bomley & Sons and Doal & Son. worsted goods man. ufacturers, and John Blood & Bros., hosiery manufacturers, have closed their plants. Four thousand men and girls are idle. DENVER, Aug. 4.-A receiver has been appointed for the Equitable Accident Insurance company. Outstanding risks of $6,000,000 have been reinsured with the Union Casualty company. Trouble among the stockholders IS the cause of the failure. ST. PAUL. Aug. 4. The closing of the doors of the German American National bank this morning has caused some withdrawalsfrom the other banks, but no particular excitement or runs on them. This morning the People's bank. with a capital of $200,000. suspended. No statement. The failure is not considered important. JAMAICA, L. I., Aug. 4.-Frederick W. Dunton, president of the Bank of Jamaica. New York, the East Brooklyn Suburban Investment company and the Boynton Bicycle Railroad company. has made an He was one assignment. of the largest investors in real estate in Queens and Suffolk counties. Assets are more than to cover all liabilities, if not forced the market. He as enough upon has resigned president of the Jamacia bank. 4.-This morning National bank of the MUNCIE. Citizens' Ind., Aug. 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, Farmers' National and Mer) chants' National banks then commenced to draw out their money. The run con) tinyed until 4 o'clock this evening. Heavy ) deposits are being made by wealthy citizene to save the remaining three. NEW YORK. Aug. 4.-N. L. Cort & Co., 3 importers of tin, tin plate and other t made an assignment metals, $34,425; to-day.giv- liaing preferences amounting to bilities, $350,000; assets, unknown. The firm was a very old one and prominent in / the metal trade. The failure is due to de: preciation in the price of metals and , financial stringency. S. Jacoby & Co., 8 cigar manufacturers, confessed judgment , aggregating $30,00; liabilities, $150,000; as, sets, large. The failure is attribute. to poor collections. SAN JOSE DE COSTA RICA, Aug. 1.-A t financial panic throughout the republic , has been caused by the condition of the , silver market. Failures have been numerous and more are expected. All business f is very much depressed and no improvement is expected till some action is taken which will render the price of silver more stable. The Costa Rica bank is in trouble ) are no longer accepted in , circles. commercial and its notes Yellow fever is ragI ing at Port Limon so severely that half , the population fell vietims to it.

6. August 5, 1893 The Daily Morning Astorian Astoria, OR
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.

7. August 5, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 5, 1893

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MORE BANKS SUSPEND. THE MONETARY STRINGENCY WORKING DISASTERS IN MANY STATES. Providence, R. I., Aug. 4.-The State Bank of this city was unable to meet its balance at the Providence Clearing House to-day and closed its doors. It is not a National bank, and It has a paid-up capital of $77,000. The suspension is probably only temporary and is due to the stringency of the money market and the withdrawal of deposits. The bank was one of the oldest of the State banks, and was instituted in 1850. It has not been regarded as sound. The report of the State Auditor in November, 1892, shows 1ts deposits to be $238,000. The officials say this afternoon that the bank will undoubtedly go into liquidation. It has many time-loans out. Lebanon, Penn., Aug. 4.-The Lebanon Trust and Safe Deposit Bank failed to open its doors this morning. This announcement was made: "This bank closed by order of the directors." The bank is a State institution with a capital of $50,000. The inability to collect outstanding accounts, the general tightness of the money market and personal litigation of the president, Robert H. Coleman, locking up its securities and enjoining It from disposing of them, have compelled this step. Muncie, Ind., Aug. 4.-The Citizens' National Bank, one of the oldest and soundest banks in this city, suspended business this morning. Withdrawals of deposits and inability to realize on paper are the causes. President Kerwood says that the assets are as two to one. Three other banks in this city are preparing for the worst, as the people are greatly excited over the failure. San Antonio, Tex., Aug. 4.-The Texas National Bank failed to open its doors this morning, and is now in the hands of a United States bank examiner. It is the smållest bank in the city; capital stock $100,000. The liabilities are small. The last statement shows only $76,000 deposits. The closing caused no excitement, and no runs on other banks. Colby, Wis., Aug. 4.-The Exchange Bank of Colby closed its doors this morning. The bank had a capital of $50,000, and owes depositors about $30,000. Baraboo, Wis., Aug. 4.-The Baraboo Savings Bank made an assignment here yesterday. R. B. Gripp was appointed assignee. Mankato, Minn., Aug. 4.-The First National Bank closed its doors at noon. The bank is solvent and depositors will be paid in full. At 1 :30 o'clock the National Citizens' Bank closed Its doors and hung out the following resolutions adopted at a meeting of the directors, held just previously "Owing to the suspension of the First National Bank of this city and present stringency in the money market, it is resolved to suspend payment until the present excitement subsides." Fifteen minutes later the Mankato National Bank closed its doors and exhibited the following statement: "Owing to the closing of the First National and National Citizens' banks. of this city, this bank is temporarily closed. The bank is perfectly solvent and all depositors are safe." The National Citizens' Bank has $90,000 in cash and the Mankato National has $55,000. The capital of the First National Bank is $150,000, and J. A. Willard is president. The capital stock of the National Citizens' is $100,000, John F. Meagher, president. The Mankato National Bank has $100,000, and John H. Ray is president. The only other bank in the city is.a savings bank, and was Trecently organized.

8. August 5, 1893 The Herald Los Angeles, CA
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.

9. August 5, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, August 5, 1893

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Bank Runs In Indiana. MUNCIE, Ind., Aug. 5.-The Citizens' National bank of this city failed to open its doors on account of the rapid withdrawals. Hundreds of depositors congregated. The depositors of the Delaware National, Farmers' National and Merchants' National banks then commenced to draw out their money. The run continued until evening Heavy deposits are being made today by wealthy citizens to save the remaining three.

10. August 5, 1893 The Salt Lake Herald Salt Lake City, UT
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.

11. August 9, 1893 The Star Reynoldsville, PA
Article from The Star, August 9, 1893

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FINANCIAL AND COMMERCIAL. The Citizen's national band, of M uncie, Ind., suspended. The assets are claimed to be twice the liabilities. The San Antonio (Tex.) National bank, capital stock $100,000, failed. The West Side bank, capital $100,000, and the People's Savings bank, St. Paul, Minn., sus ended. The depositors of the suspended Citizens Savings and Loan association, of Akron, O., decided to, allow the bank to reopen and pay depositors in 3,6,9, 12 and 15 months from date of opening, September 1.

12. August 12, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 12, 1893

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REPORTS REACH MR. ECKELS HA Declines to Talk About the Indianapolis Bank and Citizens', of Muncie. Turner to Be Receiver of the Latter-Depositors and Mr. Hawkins-Won't Issue Exchange. The reports of Examiner Young and Examiner Ford on the Indianapolis National, of this city, and the Citizens' National Bank, of Muncie, reached Washington yesterday. Concerning them the Journal's correspondent last evening telegraphed as follows: Late this afternoon the report upon the condition of the Indianapolis National Bank and the Citizens' National, of Muncie, prepared by Examiners Young and Ford, were laid before Controller Eckels. Just as the Treasury Department was closing Controller Eckel stated to a Journal correspondent that he had only given these reports a cursory examination, and that he would not to-day make public any information they contained. "I do not think I shall give out any of the figures in either of these reports," said the Controller, "because it will do no good and may do more harm. We want quieting influences in every direction during such times as we are having. and it is the duty of every one to do nothing which will give the least ground for graver apprehensions or afford for a basis pessimistic gossipers." It can be stated, in a general way, that the condition of the Indianapolis National is not 88 good, as shown by the report, as it was hoped by the Controller to be, but every step 18 to be taken for the protection of the interests of depositors and stockholders. The fact that information contained in the examiner's report may be taken as ground for criminal prosecntions and civil suits leads the Controller to be cautions as to what may be published of the report. The Controller is desirons of protecting all interests as best he can and at the same time he wishes to do no one an injury. A receiver will be appointed for the Citizens' National at Muncie. The directors have asked for one, and Examiner Ford has recommended that one be appointed. This does not indicate insolvency. It means that the officers of the bank acknowledge their inability to arrange for a resumption of business without the assistance of a representative of the federal government. Under the direction of a receiver, too, there can be no possible charge of indifferent management of any one's interests. There has been no trenching upon the laws at Munoie in the way that there has been in the management of the Indianapolis National, and no proceedings upon the part of the government are anticipated, as in the case of the Indianapolis National. In the Indianapolis National's management it 18 10timated that there have been serious infractions of the law, and there may be some gentlemen who will be called to make explanations. There has been perfect honesty at Muncie. It is probable that Charles M. Turner, of Muncie, will be appointed receiver for the Citizens' National there, and that be will be named on Monday. Mr. Turner has been recommended for the position by a large number of the citizens of Muncie, Democrats and Republicans alike. An experienced and capable banker 18 wanted for this place, one who has the confidence of the community, and all these Mr. Turner possesses to a high degree.

13. August 13, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 13, 1893

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NEITHER MAN WILL GET IT Muncie Citizens Have Something to Learn About Who Can Be a Receiver. Prairie City Bank the First to Go in Terre Hante-Failuresin Brooklyn and Tennessee Coming In-Other Business Troubles. THE MUNCIE RECEIVERSHIP, Mayor Brady Selected in Place of Turner, and Both Ineligible. Special to the Indianapolis Journal. ASHINGTON, Aug. 12.-A telegram was received by the Controller from Muncie to-day stating that Charles M. Turner, who was yesterday recommended for the position of receiver for the Citizens' National Bank, of that city, was ineligible, being a creditor of the bank. Immediately came telegrams from citizens of Muncie, mostly Democrats, and some depositors and stockholders in the bank, requesting the appointment of Arthur W. Brady. the Mayor of Muncie. Mayor Brady is a Democrat, and while Controller Eckles says he will not overlook the fitness of a man in the appointment of a receiver simply to select a partisan, the suggestion of Brady was preferable to the request for the appointment of Turner, a Republican, and so the Controller decided to appoint Brady receiver for the Citizens, and directed that the appointment be made out on next Monday. Still later in the day: came telegrams announcing that Brady was ineligible, being, either a creditor of the bank or related to some one prominently connected with the institution. It would seem that the citizens of Muncie are unfamiliar with the qualifications of a man to become a receiver of a national bank. First, he should be familiar with bookkeeping, and have a practical knowledge of banking. He should then be in no way. interested in the affairs of the bank. He must not be either a creditor or debtor of the bank. nor related by blood or marriage to any officer of the bank, nor be interested in the affairs of the bank by relationship to stockhelder. or debtor, or creditor of the bank. These qualifications appear to make quite all of the Democrats of Muncie ineligible. and many of the Republicans. too. Receivers are frequently appointed from other cities than those in which suspended banks are located, and often from other States, with a view to avoiding local complications. and it is not altogether improbable that Muncie may yet prove one of these examples.

14. August 15, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 15, 1893

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of the German-American Bank. It is said the bank will re-open for business in about fifteen days. Its b lls receivable exceed its deposits more than $2,000,000. MILWAUKEE, Aug. 4.-The Exchange Bank of Colby, Wis., and the Baraboo Savings of Baraboo have failed. R B Gripp has been appointed assignee of the Baraboo bank, but no statement has been made. The Exchange Bank of Colby has a capital of $50,000. It 0 ves depositors about $30,000. MUNICE Aug. A - The Citizens' Na tional Bank failed this morning. Its capital is $200,000, but no statement of the liabilities has been made. There were runs on the Farmers' National. Merchants' National Bank and the Delaware National Bank, but it is believed they will be able to continue in business. PROVIDENCE, Aug. 4. -The State Bank of this city was unable to meet its balance at the Providence Clearing House to day and closed its doors. It is not a national bank. It has a paid up capital of $77,000. The suspension is due to the stringency of the money market and the withdrawal of deposits. The bank was one of the oldest of the State banks, and was instituted in 1850. It has not been regarded as sound. The report of the State Auditor in November, 1892, shows its depos ts to be $238,900. SAN ANTONIO, Aug. 4 -The Texas National Bank failed to open its doors this morning and is now in the hands of a United States bank examiner. It is the smallest bank in the city, having a capital stock of $100,000. The liabili tiies are small. The last statement shows only $76,000 deposits. The closing caused no E xcitement and no runs on other banks. LEBANON, Pa.. Aug 4 -The Lebanon Trust and Safe Deposit Bank failed to open its doors this morning. The announcement was, "This bank closed by order of the directors." The bank is a State institution with a capital of $50,000. Inability to collect outstanding accounts, the general tightness of the money market and personal litigation of the president, Robert H. Coleman, locking up securities and enjoining it from disposing of them, have compelled this step. It is stated upon the authority of counsel that the result of this litigation cannot but be favorable to Mr. Coleman in the end, when the securities will be released, leaving ample assets to pay all claims. It is believed that the suspension is but temporary and that all depositors will be paid in full. It will have but little if any effect upon the other banks.

15. August 25, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, August 25, 1893

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INDIANA STATE NEWS. POST OFFICE has been The established post A Frichton, Knox county. has at office at Daggett, Owen county, been discontinued. Bailey, a pret- committed morby <<<<<<<<<<<<<<<<<<<<<<<<< taking Lon She to had marry been Smith phine. and all arrangements out of for the wedding He was her made and it is believed this made had work, She told Smith she then too taken the despondent. poison, but it was late to KINDRED save her TAYLOR, life. an old soldier. in was the beaten with a dray pin hoodlum at hands fatally of Bill Hosbin, a Mitchell. OLDS, who shot a man in wanted MaGRANT three months ago and is kill, rion for shooting with intent to eventhere arrested at Brazil, the other and was the home of his brother Ma rion for trial. ing placed at in jail. He will be taken to W. BRADY, mayor of Muncie, has A. appointed receiver of the that city suspend ed been Citizen's National bank of JAMES CHILDERS,Wife of a prom committed MRS. citizen of Mitchell, reasons inent by taking arsenic. The but it is suicide the deed is not known, family for thought to have been caused by discord. failure of the Prairie City started bank, a THE Haute, the other day. bank. Terre run on the First National depositlight which was readily met, and all paid. who called were promptly depositors were, in the main, small They and while the run was in progress ors, business men came offset and deposited. the so many that the deposits about 1 withdrawals. o'clock, the other morning, disasABOUT Key was visited by another rear Red fire that broke out in the burned trous of Edere's drug store and and room Modi's hardware store fulthat place, market. Loss about $6,000. is not know a ly meat insured. The origin of the fire S. C. CRAVENS, of Bloomfield, his DR. badly injured in a runaway. temwas striking the ground and the unconhead artery severed. He was poral scious several hours, but will recover. HENRY EHRLICH. 20 years old. son of Ehrlich, a wealthy coal operator Peter Brazil, was bitten by a he spreading was of the other morning, as venoviper. to one of the mines. The Mr. going reptile sunk its fangs into to mous Ehrlich's leg. which quickly swelled he will die. enormous proportions. It is thought B Bugall ЦЕШ Sunos e SHRADER WM. miles south of Batesville, had picked few revolver which he supposed his sisan 18 1! pointing and "II u! peot E dn no young lady, remarked that off, ter. a would shoot. The revolver went in the ball striking the young lady the eye, killing her almost instantly. BARKING dog frightened Mr. Nelson A team near Portland. children Snyder's his wife and three runwere Snyder, probably fatally hurt in the away that kicked followed. Roscoe Mosier in dead. the A head at HORSE Martinsville. Mosier is three JAMES BOKE, living at Ogden, has east of Knightstown, for who some miles missing from his home in been was found by a hunting had party not days, straw stack near home. He twelve partaken of nourishment for days and nights when found. Mooresville ghouls dug up the and body AT of Myrtle Lambert, nineteen. aorribly mutilated the corpse. EXPRESS MESSENGER C. W. JULIER re- car borts the attempted robbery of his Crawfordsville. the Big Four, near one of O on six armed men. Julier shot he was 91 y he would-be robbers, who says IS e statement Alday S FRANK WILSON, widely known directPROF. composer of band music and in V a of bands, and who has resided his Sewcastle for several years since has V etirement from the regular army, confined ecome violently insane and is a the county jailawaiting commitment IF III THE apers. stables at the Connersville by drivi 11 park were totally the destroyed total ng Nine horses perished and insurre. is estimated at $7,000, with be reoss of $1,500 The stables will 41 nce uilt and the races will come off Sep11 ember 12, as originally intended. pro HP BLACK beetle has made its is ap- of up A in Wayne county. It deour bout earance the same shape but far more bug, sur 941 ructive than the Colorado potato almost om the fact that it attacks con species of vegetation. our 11 M very THE O'Brien Wagon works, of Liabilities, Lamy yette, have gone under. hut 191 OIN FIVE 00,000. more insurance companies have for ben blacklisted at Indianapolis Ins ot complying with the law. en ALBERT SPICKMAN, aged fifteen, Tell was of cked to death by a stallion at ing 194 ty. ELEANOR MULLEN, alias Katie the Fay, to the state reformatory by nt dianapolis police court for non-pay- months of fine and detained many

16. September 15, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, September 15, 1893

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SMAS STATE VNVICNI DAN MAHONE, a bar-tender, fatally R Supanp " "чор your quarrel at Indianapolis. MRS. M. THOMAS. of Kelso, in Huntington county, was taken sick the other morning while making arrangements to go to Huntington, and died before assistance could be procured. Ex-SHERIFF LENUEL WILLIS, of Sullivan, found Ex-Prosecuting Attorney W. C. Hule in the house with Mrs. Willis, and fatally shot him. AT Bolton. Samuel Hanner, aged twenty-five, single, was shot and killed by Jacob Lambert, aged seventeen, the other afternoon. The boys lived on neighboring farms. and for some time had been quarreling over a line fence. Lambert had been hunting, and trespassed on Hanner's farm. They quarreled for some time. and when Hanner 04 " su town strike. the latter emptied both barrels into Hanner's body. killing him instantly. Lambert then went to Versailles, the county seat, and gave himdn SOME unknown person made an attempt to poison the family of Henry Page, living on a farm near Brooklyn, by placing the contents of a box of rough on rats wrapped in a piece of newspaper. and as a consequence Mr. Page's daughter Rosa is not expected to recover. Other members of the family are sick. Several chickens died from the effects of drinking the poisoned water. THE six alleged white cappers who flogged Mrs. Dalton on the night of August 5 waived examination and are all in jail at Salem. awaiting court. which convenes September 19. The friend who bailed out Elijah Dalton, the husband. refused to go on his bond longer, and he is now in jail in default of $500 bail. THE trial of Frank Bruce, John Henry, "Red" O'Brien, Mrs. Bruce and Florence Wilkins, the gang of safeblowers, began at Terre Haute. the other day. When the case was called for trial the defendants attorney made a motion for a change of venue from the county on the ground of prejudice. HARRY CRAGIN. aged 28, and Barney Riley, 17. were among the 2,000 Lafayette Laborday excursionists to Logansport the other morning, via the Wabash -BO JO dn греш SEAL upen equal Temper booses. and Riley and Cragin, with others, rode on top. At Colburn Station the spout of a water tank struck and instantly killed Riley. His body was tossed from the train. Cragin's skull was fractured by the spout. He will die. MISS MINNIE BRUCK. a well-known young lady of Miami county, was thrown from a buggy recently and terribly injured. She will die. THE family of William Sagus, living north of Burrows. Carroll county, was poisoned by something in the food. Two children died and three other members of the family are not expected to live. WHILE James Cobb. a wealthy farmer living about five miles west of Valparaiso, was returning home from town he was assaulted by two men, who beat him over the head with clubs until he was unconscious then robbed him of $150. started his horses on a run, and caped through the woods. Cobb was badly beaten about the head and face. He thinks that it was the work of some one from Valparaiso who saw him receive money during the day. WESLEY LEE, sr., aged eighty, and Sarah Richardson, aged sixty-eight, were granted a license to marry at Connersville the other day. Mr. Lee lived with his son, Wesley, jr., and said his son would not marry he just got tired of washing dishes and scrubbing around the house and thought he would take a partner to help him. SERIOUS forest fires are raging in the a suburbs of Michigan City. Hundreds of acres have been burned over, miles of fencing destroyed. and unbarvested crops have fallen fuel to the devouring flames. LEE WHITTINGTON, aged 5. of Jeffersonville, while playing with matches, : set his clothes on fire, and was perhaps fatally burned. THE Burton family, which has about U 70,000 representatives in the United 7 States, held its annual reunion at Mitchell the other day. THE Indianapolis and Michigan divisions of the Big Four men, with headquarters at Anderson. have decided accept a proposed reduction in wages. SUM state 249 V A STATEMENT has been received at the treasury department to the effect that the Citizens' National bank of Muncie. which suspended in July, will resume business. a SAMUEL DEETERS. a batchelor, resid0

17. October 17, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 17, 1893

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THE DELAY IN THE DIVIDEND. Indianapolis National Depositors Must Await Chief Mays's Recovery. A special from the Journal's Washington correspondent last night stated that the delay in announcing dividends for the depositors in the Indianapolis National and the Citizens' National Bank of Muncie is due to an accident to Chief Mays, of the office of the Controller of Currency, who has charge of the division which makes disbursements and winds up the affairs of suspended banks. Chief Mays was struck by a street car the other day and severely injured. He expects to be at his post of duty this week, when he will figure up the dividends which can be made to the depositors in those two banks, announcement of which may be expected by the end of this week. Controller Eckels left for Chicago yesterday afternoon, to be absent a week. His absence will not, however, delay action upon these dividends, as he arranged for them before his departure.

18. November 1, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 1, 1893

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GOOD NEWS FOR MUNCIE. The Citizens' National Bank Given Permission to Resume Business. Special to the Indianapolis Journal. WASHINGTON, Oct. 31. - The Citizens' National Bank, of Muncie, which suspended business on Aug. 4 last, will shortly open its doors for business. Controller Eckels to-day addressed a letter to President A. L. Kerwood, in which he stated that, as a result of the interview had with him and Dr. G. W. H. Kemper, a director of the bank, at the former's office, yesterday, consent is given for the reopening of the bank, which has been in the hands of a receiver for the past two months, as soon as certain conditions are complied with, and which will be met within a few days. The requirements are that a sufficient amount of cash shall be on hand to meet the demands of depositors and pay all creditors who do&not agree to extension, together with enough to provide for the current demands of. business. President Kerwood and Director Kemper, who have been in the city during the past two days, in connection with this bank, left for their homes this afternoon, after a successful

19. November 23, 1893 New-York Tribune New York, NY
Article from New-York Tribune, November 23, 1893

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AN $80,000 PACKAGE OF CURRENCY MISSING. Muncle, Ind., Nov. 22.-The Citizens' National Bank, which has been in the hands of a receiver for several months, opened its doors on Monday, but has so far been unable to transact business, because of the failure of an $80,000 package of currency to arrive from the United States Treasury at Washington. The money was shipped on November 17, and should have arrived here last Saturday by way of the Baltimore and Ohio and Lake Erle and Western Railroads, in care of the United States Express company. A letter malled after the money left Washington arrived on Monday. Agent Thomas has kept the wires hot with messages since Saturday. but the valuable package has not yet been found.

20. November 25, 1893 Chicago Eagle Chicago, IL
Article from Chicago Eagle, November 25, 1893

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FOR THE EAGLE. A Collation of News from All Over the World. A Feast of Political, Commercial and General Intelligence, Thoroughly Sifted for Eagle Readers. $80,000 in Currency Missing. The Citizens' National Bank, Muncle, Ind., which has been in the hands of a receiver for several months, opened its doors Monday as announced, but was unable to transact business because of the failure of an $80,000 package of currency to arrive from the United States treasury at Washington. The money was shipped the 17th, and should have arrived Saturday from Washington via the Baltimore and Ohio and Lake Erie and Western Railways in care of the United States Express Company. A letter mailed since the money left arrived. Agent Bud Thomas has kept the wires hot with messages, but the valuable chest has not yet been found.