6311. First National Bank (Terre Haute, IN)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
47
Charter Number
2742
Start Date
August 12, 1893
Location
Terre Haute, Indiana (39.467, -87.414)

Metadata

Model
gpt-5-mini
Short Digest
5a4915d5

Response Measures

Accommodated withdrawals

Description

Failure/assignment of the Prairie City Bank (Aug 12, 1893) triggered a small run on the First National. Withdrawals were promptly met, police dispersed a crowd, and the run subsided; there is no mention of suspension or receivership.

Events (1)

1. August 12, 1893 Run
Cause
Local Banks
Cause Details
Run triggered by the failure/assignment of the local Prairie City Bank (a nearby private bank) which started depositor nervousness and withdrawals at the First National.
Measures
Depositors who wanted money were promptly paid; police dispersed crowd; withdrawals were largely small and run subsided.
Newspaper Excerpt
Just before banking hours closed there was some excitement about the First National... The police had to disperse a crowd of two hundred persons, who had congregated about the doors. Very little money was drawn out.
Source
newspapers

Newspaper Articles (3)

Article from The Indianapolis Journal, August 13, 1893

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Article Text

PRAIRIE CITY BANK GONE UP. The Panic Has Struck Terre Haute, but No Runs Follow. TERRE HAUTE, Ind., Aug. 12.-The Prairie City Bank, a private banking establishment, made an assignment this morning to B. V. Marshal, who has not yet filed a statement of the assete and liabilities. The bank 18 not indebted to any other Terre Haute bank. Its president, Mr. J.S. Beach, is treasurer of the Terre Haute Savings Bank. but owes the bank nothing. He has assigned all his property for the benefit of his creditors. There is no run yet on any of the other banks. The failure of the Prairie City Bank did not cause much excitement because it was looked upon as a small concern and was known to be in a bad condition. There is no statement of its assets or liabilities, but the showing will be a bad one. Just before banking hours closed there was some excitement about the First National, which 18 the largest bank in the city. The police had to disperse a crowd of two hundred persons, who had congregated about the doors. Very little money was drawn out.


Article from The Sun, August 15, 1893

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Article Text

TROUBLES OF THE BANKS. A Suspension in Springfield, Mo., and Time Notices in Other Places. SPRINGFIELD. Mo.. Aug. 14.-The Bank of Springfield made an assignment to Capt. C. B. McAfee this morning. Its stockholders are the Hon. J. F. G. Bently. J. W. Hall. B. F. Hobart. Benjamin A. Mossey. J. S. Ambrose. and James Stoughton. The liabilities are reported at $151,271.40. C. M. Everfol. Treasurer of the Board of Education of Springfield. had $11,300 of school money on deposit in the bank. The failure of the bank was due to the withdrawal of deposits. about $140,000 having been called for since the money stringency began. It is thought that the bank will resume business in about two weeks. There is a proposal to settle with the depositors by issuing certificates. NASHVILLE, Aug. 14.-The directors of the Elk and First National banks of Fayetteville. Tenn., to-day issued circulars assuring the public of their strength and solvency. but saying that they deemed it necessary that all deposits made previous to Saturday last should be subject to one check for $50 only. Certified checks will be given for all amounts over this sum. The bank of Winchester to-day gave notice to the depositors that they would be required to give sixty days' notice of their intention to withdraw deposits. The bank is said to be solvent. and this action was taken to prevent a run. The Board of Directors of the Commercial Bank and Trust Company of Pulaski to-day decided to require sixty days' notice from depositors. The People's National and the Citizens' National. also of Pulaski. acting in concert. decided to pay depositors within the next ninety days ten per cent. of deposits exceeding $10. and in no case more than $50. and authorized the cashiers to certify checks of depositors for the balance payable in ninety days. MEMPHIS, Tenn.. Aug. 14.-Neither the certifled check nor the Clearing House certificate system will be adopted by the Memphis banks. The reserve carried is from 55 to 93 per cent. of deposits. or an average of 70 per cent. The best information obtainable is that no possible contingency can arise by which the banks will be unable to pay dollar for dollar on demand. The Shelby County Savings Bank. one of the smallest institutions in Memphis. took advantage of a clause in its charter this afternoon. and announced that it would be necessary in the future for depositors to give ninety days' notice before they could withdrawtheir money. No apprehension is felt as to the solvency of the bank. KANSAS CITY. Aug. 14.-The banks of Fort Scott. Kan., began to-day paying certified checks over their counters instead of cash. They will continue to do so until the currency stringency is over. LITTLE ROCK. Ark.. Aug. 14.-At a meeting of the associated banks held. in this city this morning. it was unanimously decided to place certified checks in circulation. and also to limit the amount which any depositor may withdraw in one day to $20. TERRE HAUTE. Aug. 14.-The failure of the Prairie City Bank on Saturday started a slight run on the First National Bank this morning. All depositors who wanted money were promptly paid. The First National Bank is the largest in the city. and one of the strongest in Indiana. Before the day finished the run had nearly subsided PORTLAND. Ore.. Aug. 14.-D. P. Thompson. the receiver of the suspended Portland Savings Bank. filed his inventory in the Circuit Court this afternoon. This inventory shows total assets $3,014,000: liabilities. $2,475,000. The receiver says that if the bank 18 not pushed by creditors it will pay in full soon.


Article from The Jasper Weekly Courier, August 25, 1893

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Article Text

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