C. L. Niehoff & Company (Chicago, IL)

Episode Information

Episode UID
6354970791122
Episode Type
Run → Suspension → Closure
Bank Type
private
Bank ID
635497079 hash
Start Date
June 7, 1893
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
428355e4837b3d88

Response Measures

None

Events (2)
1. June 7, 1893 Run
Cause
Macro News
Cause Details
financial stringency and general alarm among depositors during the Panic of 1893
Newspaper Excerpt
attachments sued out by a number of depositors, who became alarmed for the safety of their money
Source
newspapers
2. June 7, 1893 Suspension
Cause
Macro News
Cause Details
Inability to meet clearing house demands and depositor attachments during financial stringency.
Newspaper Excerpt
placed in the hands of the sheriff this evening on attachment's sued out by a number of depositors
Source
newspapers

Newspaper Articles (2)
1. June 8, 1893 The Herald Los Angeles, CA
Article from The Herald, June 8, 1893

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Article Text

EMBARRASSED BANKS. A Material Falling Off Im the Number of Failures. ASHLAND, Wis., June 7.-The bank of Waehburn. closed ita doore this morning. The officersclaim the suspension is only temporary, on account of the financial stringency, and will reopen in a few days. It.is a private institution with a stated capital of $25,000; surplus, $12,000; d'eposite, about $40,000. A. C. Probert is president, and states the depositors will be paid in full. CHICAGO, June 7.-The private bank of C. L. Niehoff & Co. was placed in the hands of the sheriff this evening on attachment's eued out by a number of depositore, who became alarmed for the safety of their money- No statment is obtainable tonight. W ASHINGTON, June7. / -The comptroller has directed Bank Examiner E. T.. Wilson to take charge of the Citizene" National bank and the Washington National bank of Spokane, state of Washington, which closed their doors yesterday. NEW ALBANY, Ind., June 7.-The New Albany Banking company has suapended payment, as the result of the run on the New Bedford, Ind., bank yesterday, both having substantially the same stockholders. It is claimed the assets are $212,000; liabilities, $100,000. W. L. Greyfogle, one of the principal stockholders in the bank, executed a deed. of trust of $366,000 for the benefit of the depositore of the two banks. It is claimed the depositors will be paid in full.

2. June 8, 1893 The Evening World New York, NY
Article from The Evening World, June 8, 1893

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Article Text

HAS MANY NEW YORK DEBTS. 1 e D. B. Loveman, of Chattanooga, . 1 Goes Under with Big Liabilities. t More Bank Failures in Chicago and the West. H o CHATTANOOGA Tenn. June 8.-D. 0 13. Loveman one of the leading dry-goods merchants in the South, has filed a deed of trust with the County Registrar for the benefit of certain preferred creditors. He named as assignees H. Clay Evans, of Chattanoogn, late First As/ sistant Postmaster-General, and Louis 1 Black, of Cleveland The deed of trust conveys his entire estate, real and personal, including a number of tracts of land in the city and suburbs, the large building known as the Loveman Block, on Market street, together with the stock The preferred creditors and the . amounts due them make up a 11st of L thirty individuals, firms and corporat tions, and an aggregate Indebtedness of $131,786.57 In the list is the Central P National Bank of New York for the sum . of $25,000. ) CHICAGO, June 8 The private bank of C L Niehoff & Co. in La Salle street was placed in custody of a deputy sherIff last evening on attachments sued I out by some of the depositors. Some of . the bank's checks failed to go through , the Clearing-House yesterday afternoon, and the attachments are the result. t No statement could be obtained last night. . ASHLAND, Wis., June 8.-The Bank of Washburn closed its doors vesterday morning. Officers claim that suspension is only temporary on account of finan, cial stringency, and that it will reopen In A few days. It is a private Institution, with a stated capital of $25,000 I and a surplus of $12,000. The deposits I are about $40,000. A. C. Roberts, the President, says that depositors will be paid in full. SHELL LAKE. Wis., June 8.-Owing to the failure of the bank of A. C. t Roberts, at Washburn, the Shell Lake , Savings Bank, of which he is the principal owner. suspended yesterday. It is said that the depositors will be paid in full The assets and liabilities are not , known.