gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
18453eab680321f6
Response Measures
Capital injected, Partial suspension, Full suspension, Books examined
Clearinghouse involved: Yes
(loan, examination, or other measures)
Events (7)
1.January 12, 1903Chartered
Source
historical_nic
2.October 1, 1907*Run
Cause
Rumor Or Misinformation
Cause Details
Rumors among foreign mining population caused a stampede and heavy withdrawals that threatened the bank; other banks assisted to tide it over.
Measures
Other banks and the First National provided assistance to tide the bank over the withdrawals.
Newspaper Excerpt
the First Bank came forward ... all the assistance ... tided over the run passed
Source
newspapers
3.November 22, 1907Suspension
Cause
Local Banks
Cause Details
Heavy drawing of exchange following the prior suspension/closing of the Globe National Bank led to the clearinghouse dropping First National and its failure to open.
Newspaper Excerpt
The First National Bank of Globe ... did not open for business this morning, having been dropped by the Globe Clearing House Association last night.
Source
newspapers
4.November 26, 1907Receivership
Newspaper Excerpt
J. W. Norvell ... arrived in the city ... will relieve J. H. Page as receiver of the First National bank.
Source
newspapers
5.January 15, 1908Other
Newspaper Excerpt
Edwin C. Perkins ... has been designated by comptroller of the currency Ridgley to succeed him as receiver, and the latter gentleman will be in charge ... until it receives orders from the comptroller to reopen the institution.
Source
newspapers
6.February 26, 1908Reopening
Newspaper Excerpt
The First National bank of Globe ... has been authorized by the comptroller of currency to resume business and will open the doors Saturday with doubled capitalization of $100,000, ... .
Source
newspapers
7.September 30, 1924Voluntary Liquidation
Source
historical_nic
Newspaper Articles (23)
1.October 10, 1907The Copper EraClifton, AZ
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NEWS OF THE TERRITORY. Caught by a cave-in and buried be- G. neath tons of rock and dirt, David Williams, a miner at Globe employed at the O. D. Keystone mine, met a horrible death. The body was recov- the ered about thirty minutes after cave-in. The Rattler Mining company at Globe has temporarily ceased development work at its property northeast of the city. Superintendent will Galpin states that the shutdown only continue while metal conditions about are so unstable. The shaft is will 100 feet deep and the company place an order for a hoisting plant work. as soon as it is decided to resume -Belt. George Kingdon has been appointed Domine superintendent of the Old to minion and United Globe Mines and succeed N. S. Berray, resigned, will arrive from Old Mexico within the next ten days to assume his new position. Mr. Kingdon was for many has years a resident of Globe and extend old friends there who last him many a warm welcome. Prior to spring he officiated as superintend- Nacoent of the Moctezuma mines at zari, Mexico. What may prove to be one of been the richest strikes that has ever has made near Bisbee for some time just been made known by Jack Kelly, the man who discovered and sold the the mines now being developed by Bisbee Extension company. Samples the of the ore have been brought rich to in Review office and they are gold and silver. Specimens Bisbee, assayed copper, by George Laird, of 7 show $23 in gold and silver and per cent. in copper.-Review. The coming term of the brief district and is evidently to be a rapid court one. Judge Nave has instructed that clerk to advise the attorneys for the must have their cases ready for the they trial promptly or continuance and term is probable. All demurrers of motions will be heard and disposed and the first day, October 28th, the on calendar will be called the same are All pending criminal cases day. for trial immediately afterwards. been set But two weeks of time has loted to the term in this county, session as supreme court will be in about the November 10th.-Bulletin. E.K. Martin, a comparatively rerecruit to the Douglas police cent force and a conservative, coolheaded morning at an early hour one of officer, week had his first baptism police last blood since joining the local as he department when, believing, Genhad every right to, that Officer from a life was in danger try's drunken Mexican who was rushing at the him, he sent a bullet stomach upon that entered the Mexican inflicted a wound that, eight ofand later, proved fatal. The was hours saw that the wounded man for taken ficer to the Calumet hospital Martin and that done, shoottreatment telephoned Judge Rice himself. of the The and surrendered ing Mexican died at the hospital.American. Information comes from Globe avert- that financial trouble was narrowly that city one of the banks in & ed at The firm of I. N. Kinsey came rerecently. failed and on top of this was Co. from Boston that copper soon be on ports down grade and would rumors the than ever. These lower among the foreign population caused a spread the mining city and stampeded of among them. They in which tright the bank in question, and befor of them had deposits, Great unmany drawing their money. some time by gan was felt for because of easiness officers of the bank, stream the withdrawing of a constant that the the and it was feared At of gold, might result disastrously. the First run juncture, however, and this Bank came forward National all the assistance other necessary bank proffered the result that the and all with easily tided over the run passed. was danger of disaster was quickly and the copper at 15 cents should be With of its shares at $25, it the Old price foregone conclusion that not continue a company will in the dividend Dominion payments, especially cost which does face not of a include 14-cent smelter copper Advices and power- from improvements. this month house indicate that so far treated much Globe the Old Dominion has
2.November 22, 1907Santa Fe New MexicanSanta Fe., Santa Fe, NM
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ANOTHER ARIZONA BANK SUSPENDS First National at Globe Did Not Open For Business Today-Dropped By Clearing House Association, Globe, Ariz., Nov. 22.-The First National Bank of Gobe, with deposits of $750,000. did not open for business this morning, having been dropped by the Globe Clearing House Association last night. This leaves no national banks in operation here, the Globe National Bank having closed three weeks ago. The heavy drawing of exchange since the suspension of the Globe National Bank is believed to be the cause of the suspension of the First National Bank. Territorial Bank Examiner J. H. Page took charge of the suspended bank.
Compromise Effected. Only mail trains were kept moving. A compromise was finally arranged, by which the men were given ten per cent of their pay in cash. It is thought they will return to work. Arizona Bank Suspends. Globe, Ariz., Nov. 22.-The First Na. tional bank of Globe, with deposits of $750,000, did not open this morning, having been dropped from the Globe Clearing House association last night. This leaves no national bank in opera-
4.November 22, 1907Arizona RepublicanPhoenix, AZ
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J. N. PORIER'S BANK GLOSES AT GLOBE Its Suspension Leaves the Mining Town With No National Bank. Globe, Nov. 21-The First National bank of this city, with deposits of $750,000. was dropped from the Globe clearinghouse association tonight and will not open in the morning. This leaves no national bank in operation here, the Globe National bank having closed three weeks ago. No statement has been made by President J. N. Porter, who has banking interests in Texas as well as in Arizona. The heavy drawing exchange since the Globe National suspended probably was the cause of the suspension today. The bank has been considered one of the strongest in the territory.
Arizona Bank Dropped. Globe, Ariz, Nov 22.-The First National bank of this city, with deposits of $750,000, was dropped from the Globe clearing house association last night and will not open to-day. This leaves no national bank in operation here, the Globe National bank having closed three weeks ago. The heavy drawing of exchange since the Globe National suspended is believed to be the cause of the suspension. National Bank Examiner J. H. Page took charge of the bank.
6.November 23, 1907The Montgomery AdvertiserMontgomery, AL
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ARIZONA BANK CLOSES. No National Financial Institution Left in City. Globe, Ariz., Nov. 22.-The First National Bank of this city. with deposits of $750,000. was dropped from the Globe Clearing House Association last night and will not open today. the Globe National Bank having closed three weeks ago. The heavy drawing of exchange since the Globe National suspended is be. lieved to be the cause of the suspension. National Bank Examiner J. H. Page took charge of the bank.
A PORTION OF YESTERDAY'S TELEGRAPHIC NEWS. Globe, Ariz., Nov. 22.-The First National Bank of Globe, with deposits of $750,000, did not open this morning, having been dropped from the Globe Clearing House Association last night. This leaves no national bank in operation here, the Globe National having closed three weeks ago. Heavy drawing of exchange since the suspension of the Globe National is believed to be the cause of the suspension of the First National. Bank Examiner J. H. Page took charge of the suspended bank.
8.November 26, 1907Daily Arizona Silver BeltGlobe, Miami, AZ
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RECEIVER OF FIRST NATIONAL BANK ARRIVES IN CITY J. W. Norvell of Colorado Springs, Colo., arrived in the city last evening and this morning will relieve J. H. Page as receiver of the First National bank. Mr. Norvell is the national bank examiner for this district and has had considerable experience in receiverships. He was several months ago injured while escaping from a burning building at Colorado Surings and is still compelled to use a cane.
9.November 28, 1907Daily Arizona Silver BeltGlobe, Miami, AZ
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(From Tueson Star) The telegram received by the Star on Friday night from J. N. Porter, president of the First National bank at Globe, which suspended business on Thursday night was typical of the man. "I saved my life but lost my money in the financial eyclone," tells the story in brief and the expression shows that the big-hearted president of the First National bank at Globe is not much worried or cast down on account of his immediate financial embarrassment. It is certain that every depositor in the First National ban kat Globe will receive every dollar that is due him and when the report of the receiver is finally made the worst that can be said is that J. N. Porter was too liberal with his friends when they were in financial distress and needed help. J. N. Porter has been a picturesque figure in the banking business in Arizona for the past ten years. He came to Arizona about eighteen years ago from Texas, with a small remnant of cattle, after a long brouth in the Lone Star state. He unloaded them in the Sulphur Springs valley and began life
10.December 4, 1907Vernon County CensorViroqua, WI
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BUSINESS TROUBLES. At Bedford, Ind., the closing down of the cement plants and reducing forces in the stone quarries has thrown out 600 men. At Globe, Ariz., the First National bank, with deposits of $750,000, was dropped from the clearing house association. The Globe National bank closed three weeks ago. At Birmingham, Ala, Louis M. Dyke president of the Atella National bank, charged with misappropriation of funds, was sentenced to five years in the penitentiary. With liabilities of $350,000 and nominal assets approximating the same amount, M. E. Sprague of Drew, a Bangor, Maine, lumber manufacturer. made an assignment. At New York the Aluminum Press company, manufacturers of lithographic presses, went into the hands of a receiver. The liabilities were $178,000, assets $145,286. James J. Wood, a Boston lumber dealer, led an assignment for the benefit of creditors. Mr. Wood indorsed notes of M. E. Sprague, the Drew, Me., lumber manufacturer, who assigned at Bangor. President William M. Wood of the American Woolen company stated, in relation to the curtailment of business, that the American Woolen company was now operating about 75 per cent of its machinery, and will continue to curtail production.
11.December 5, 1907Northern Wisconsin AdvertiserWabeno, WI
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BUSINESS TROUBLES. At Bedford, Ind., the closing down of the cement plants and reducing forces in the stone quarries has thrown out 600 men. At Globe, Ariz., the First National bank, with deposits of $750,000, was dropped from the clearing house association. The Globe National bank closed three weeks ago. At Birmingham, Ala., Louis M. Dyke president of the Atella National bank, charged with misappropriation of funds, was sentenced to five years in the penitentiary. With liabilities of $350,000 and nominal assets approximating the same amount, M. E. Sprague of Drew, a Bangor, Maine, lumber manufacturer. made an assignment. At New York the Aluminum Press company, manufacturers of lithographic presses, went into the hands of a receiver. The liabilities were $178,000, assets $145,286. James J. Wood, a Boston lumber dealer, led an assignment for the benefit of creditors. Mr. Wood indorsed notes of M. E. Sprague, the Drew, Me., lumber manufacturer, who assigned at Bangor. President William M. Wood of the American Woolen company stated, in relation to the curtailment of business, that the American Woolen company was now operating about 75 per cent of its machinery, and will continue to curtail production.
12.December 14, 1907Bisbee Daily ReviewBisbee, AZ
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GLOBE BANK MAY RESUME OPERATIONS President of Suspended Institution Issues Statement Saying Everythng Is In FirstClass Condition. GLOBE, Dec. 13.-If present plans do not miscarry or bump up against an unsurmountable obstacle in the office of the comptroller of the currency at Washington, the First National Rank of Globe will be open for business and resume payment as usual on February 1. It is officially given out that the bank is in fine condition; that its securities are all gilt-edged, amply covering of loans and upon the return to normal conditions there will be no trouble in realizing on this paper. "The bank has recently secured $100,000 in cash," said J. N. Porter. "If our present plans are not interrupted the capital stock will be doubled, giving us $100,000 more, and with the cash now in hand and the cok lections to be made, we will have more than $400,000 in cash with which to resume business. 'Before this can be done, however, it will be necessary for the receiver to thoroughly check up the business of the bank and forward his report and recommendations to the comptroler of the currency. It will then be up to that official to say whether or not we can reopen. "But there is one thing sure: When the doors of the bank do reopen again it will be for all time. I must be assured in advance that depositors will act sane and conservative. I will never undertake to resume the business unless I am absolutely sanguine that there will be no more unwaranted runs and that I will not be forced again to close my doors. 'I have every confidence in the future of Globe and am willing to risk my own money and the money of my friends if the people are disposed to use good judgment."
13.January 3, 1908Bisbee Daily ReviewBisbee, AZ
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From Globe comes the welcome news that J. N. Porter, president of the First National bank of that city, who was forced to suspend during the recent financial slump, will reopen the bank soon after the first of the year. J. N. Porter is one of the best known financiers in southern Arizona and at no time was there any doubt of the ability of his bank to pay the depositors all that was due them. Besides his bank he has a large amount of valuable property, including thousands of range cattle on the San Carlos reservation. The many friends of Mr. Porter will be glad to learn that he will soon be able to resume business with an increased banking capital.
14.January 16, 1908Bisbee Daily ReviewBisbee, AZ
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NEW RECEIVER APPOINTED GLOBE, Jan. 15.-J. W. Norvell, who has been acting as receiver of the First National Bank, has been ordered to resume his duties as national bank examiner for this district ond will leave tomorrow morning for Las Cruces New, Mexico, and El Paso, to examine national banks. Yesterday Mr. Norvell turned over the books of the bank of Edwin, C. Perkins of Lincoln, III., who has been designated by comptroller of the currency Ridgley to succeed him as receiver, and the latter gentleman will be in charge of the bank's affairs until it receives orders from the comptroller to reopen the institution.
15.January 21, 1908Daily Arizona Silver BeltGlobe, Miami, AZ
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Has Appendicitis-John Sikes is suffering with an attack of appendicitis and has been removed to the Old Dominion hospital. Woman Found Insane-Marie Rogalle, wife of C. Rogalle, was adjudged insane yesterday afternoon in the probate court and this morning will be taken to the territorial asylum at Phoenix. The woman was examined several months ago as to her mental condition and while found demented, it was thought that her derangement was only temporary. Bagged Many Quail-H. D. Marshall, Jr., receiver of the Globe National bank, E. C. Perkins, receiver of the First National, A. J. McKinnon, Laurie Brown and Dr. J. D. Holcomb spent Sunday at Gilson's ranch hunting quail. They returned with a goodly number of birds and several affidavits as to who shot them. Ray Is Very Quiet-E. G. Thomassuperintendent of the Arizona-Hercules company, operating at Ray, is a visitor in the city. Mr. Thomas states that there is little doing in the way of mining at Ray and Kelvin. The Ray mining company has recently installed two Keystone "churn" drills, which are being used in exploring its ground. One of these drills made 200 feet in the first twenty-four hours it was operated. The drills are said to be much better than diamond drills. Making a Park-Mac and Jim, the proprietors of the Wedge saloon, are planting a grove of cottonwood trees near the North Globe bridge, which they hope some day will furnish an outing place for the residents of that section of the city. Truant Officer Busy-The clerk of the board of school trustees is compiling a list of names of children of school age for the constable, who will enforce the compulsory school attendance law for children between the ages of six and fourteen. The law specifies that children between the ages of six and fourteen years shall attend public school fourteen weeks in a year, six of which must be consecutive. A Sad Journey-D. Nicholson, the tailor, yesterday left for Portland, Ore., in answer to a summons to the bedside of his wife, who it is thought cannot live. She was in her usual good health a short time ago, and the telegram came as quite a shock to Mr. Nicholson. It is hoped that the worst conjectures may prove wrong. Mrs. Nicholson has been in Portland since summer. With her is the daughter, Miss Sadie Nicholson. Arthur Nicholson and wife recently went to Seattle and will reach Portland before Mr. Nicholson.Republican.
16.February 27, 1908Los Angeles HeraldLos Angeles, CA
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Globe Bank Reopens By Associated Press. GLOBE, Ariz., Feb. 26.-The First National bank of Globe, which suspended during the financial panic, has been authorized by the comptroller of currency to resume business and will open the doors Saturday with doubled capitalization of $100,000, the United States depositary and generally the largest bank in this section of Arizona.
17.February 29, 1908Daily Arizona Silver BeltGlobe, Miami, AZ
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PERSONAL PARAGRAPHS Messrs. Gibson, McAlpine and Hansen returned last evening from their trip to Roosevelt. Alfred Kinney leaves today overland for Phoenix, where he will transact business for a number of days. George H. Clements of the circulation department of the El Paso Herald, arrived in the city last evening to spend some time in the city. W. A. Coma of Joplin, Mo., is visiting his sister, Mrs. Gibbs, on East Ash street. Sid F. Mauk took advantage of the closing hours of the open season and went over on the Salt river yesterday on a quail hunt. S. H. Kersey and son left yesterday for Cherry Creek, where Mr. Kersey will do assessment work on his gold claims. Dr. J. H. Lacey of Solomonville and his brother, Benjamin Lacey of North Carolina returned last evening from a visit to the big dam at Roosevelt. District Attorney L. L. Henry, M. E. Conboy and W. H. Butler will go down to Geronimo this morning to indulge in a wild duck hunt. They will remain there over Sunday. A. T. Hammons cashier of the Old Dominion Commercial company, is recovering from an attack of the grip with which he has been laid up since his return from Phoenix, Monday. C. C. Mallard, superintendent of the Gila Valley road, returned last evening from New Orleans, where he went to attend the marriage of a friend. It was only a friend, after all, as Mr. Mallard returned alone. E. C. Perkins, receiver of the First National bank, whose duties as such end at 9 o'clock this morning, when the bank resumes business, will leave Monday for nis home at Lincoln, Ill. He will go by way of Roosevelt and Phoenix. Mrs. I. G. Hanna, who was called here by the illness of her daughter, Mrs. E. G. Decker, left yesterday morning for her home in Tempe. Mrs. Hanna made many friends while in Globe who regret her departure and who will extend to her a warm welcome upon the occasion of a return visit. Louis A. Wright, consulting engineer of the Lewisohn syndicate and general manager of the Miami Copper company, leaves this morning for the west and will go to Mexico City also. Upon his return to Globe in about a month, Mr. Wright will be accompanied by his family to take up permanent residence in Globe.
18.March 3, 1908Arizona RepublicanPhoenix, AZ
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OF LOCAL INTEREST A SON- fine son came to bless the home of Mr. and Mrs. J. J. Riggs yesterday. PRAYER MEETING-MISS Luella Clifton will lead the prayer meeting at the Crittenton Home this evening at 7:30 o'clock. ANOTHER CATTLE BUYER.Walter Totty of Lgs Angeles, buyer for is the Los Angeles Packing company, a recent arrival in the valley BIRTH OF A SON-Born to Mr. and Mrs. C. G. Deming on March (1, a fine baby boy, Dr. B. B. Moeur of Tempe Both being the attending physician. mother and son are doing well. DR. RAMSEY HOME-Dr. Ramsey has returned home from Chicago where he has been taking a post graduate course in veterinary work. WOMAN'S CLUB-The annual election of officers of the Woman's club will occur at the meeting of the club in the Presbyterian church this afternoon. and all members are urged to be present. HOME AGAIN-Auditor Page returned home from Tueson Sunday morning and his assistant. J. A. Lautz. clerk of the board of equalization, returned home yesterday morning from bank Nogales. They had been on a inspecting tour to southern points. HAPPY FRANK-Frank Hawkins. life worth who makes living club to in the his members of the Arizona the as steward. received Intelligence from pleasing capacity Los Angeles the yesterday morning that he was father of a new daughter. PAUL PLEASED-Pau Green of Adams barber shop for the in his life of knowing that a sensation first the Hotel time experienced he was the father. It is a seven pound son and favors Foraker. The first sound uttered was "uninstructed." THE PRIORITY SUIT-The hearing of the case of Hurley against Abbott and others was resumed in district morning. land canal and the Utah and the Utah will be taken up. court Consolidated under was ment taken yesterday concerning today Testimony under They the Enlarge- Wednes- lands will the probably be disposed of by day and on the following day the Mesa will lands will be taken up and then come the lands under the Tempe. AN OLD OFFENSE-John Evans, better known to fame as 'Whiskey Jack" Evans was arrested yesterday charged with the theft of a watch The the of Mrs. Margaret Field. theft was the person of property alleged gust from committed Hank last Field it Au- is son of Mrs. Field and the watch was an said adopted that taken stupor while in the youth lay in a drunken a saloon. Evans was locked up for his arraignment which will take place this morning in Justice Johnstone's court. AN APPROACHING WEDDING.Invitations have been issued to .the friends of Miss Ann Rottenegger and S. Ni!son. to attend their wedding which will occur on March 14 at 4:30 o'clock in the Hot Springs hotel at Morristown, Ariz., otherwise known as a Hot Springs Junction. It will be big event for the junction town which has only a very small population and no divorce court. wherefore weddings are not of frequent occurrence. VIOLINIST'S WIFE DIES. Dr. Win Wylie is in receipt of a very touching and beautifull: written letter from his brother, Prof. Ralph Wylie, announc- in ing the death of his wife recently, Dallas, Texas, where he is a member of the faculty of the Southwestern Conservatory of Music. Many Phoenix who people will remember Prof. Wylie, Ariin November gave a recital at the zona School of Music. WILL ADVERTISE ARIZONA.-J. expects to leave about the Welcome, Minn., a his mother, and from 20th G. with Hammels for for there towns, visit he will go to Chicago, other Illinois Washington, New York, and other eastern cities. He expects to be gone about two months and will go well provided with literature. Incidentally he says he will take along anything and everythat anybody will him. and private. in the wav thing public furnish free to of lit- the erature, and distribute it he best possible advantage. wherever goes. BANK RESUMES.-Sheriff Thompof Globe, who was here yesterday, son said the First National Bank of Globe, often referred to as the "Porter" bank. and which is one of two that closed their doors during the panic, expected to resume business yesterday morning. Most of the depositors entered into an agreement to take a payment of 10 per cent of their deposits at once, 40 per cent in six months and the other 50 per cent in one year. this agreement eno abling the bank to resume business. The W. L. Douglas Shoes, the best in the world. Dr. W. M. Bell has changed residence number to 1008 North Center street. Phone Red 981. are hard on shoes try a nair
19.March 4, 1908Weekly Arizona Journal-MinerPrescott, AZ
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FIRST NATIONAL BANK OF GLOBE TO RESUME. GLOBE, Ariz., Feb. 29. - (Special Dispatch to the Journal Miner) - After a suspension of over three months, the First National bank of this city, which closed its doors during the recent financial flurry, owing to heavy withdrawals of deposits and inability to realize on loans, will resume business Monday, under instructions from the comptroller of the currency, at Washington. President J. N. Porter stated tonight that a reorganization of the banking company would be affected, with double the present capital stock of $50,000. The addition of new capital, which represents new interests in the institution, will cause a change in the directorate as it exists at present.
20.March 6, 1908Arizona RepublicanPhoenix, AZ
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to + + + Of Local Interest ADVANCE SALE GOOD.-The advance sale of tickets for the recital to be given by Miss Edith Noyes of Boston at the Arizona School of Music on March 9th has been very encouraging and a large crowd promises to be in attendance. Miss Noyes is a talented impersonator and reader whose work has been given the stamp of approval by many noted actors and dramatic critics, The price has been placed low because there have been so many entertainments in Phoenix the past season and not because the recital will be any the less artistic and meritorious. The pupils of Mrs. Mae Cooley are taking an active interest in securing promised patronage. SUPERIOR QUIET.-F. W. Hoar, consulting engineer for the Lake Superior and Arizona mine at Superior, accompanied by his family, was a visitor in Phoenix yesterday. He reports that mining is quiet at Superior, although there are many capitalists showing up every week in the camp, looking over the prospects. None of the companies are doing much at present, but there are indications of resumed activity shortly. The Lake Superior and Arizona company a few days ago held a meeting at Florence. The property is the largest developed mine in the district and the ore shipments have proved a high per cent of copper, the best running as high as 30 per cent and the average 15 per cent. BANK RECEIVER.-Mr. E. C. Perkins, a prominent attorney of Lincoln, Illinois, arrived in Phoenix yesterday from Globe where he had been sent by the Comptroller of Currency to take charge of the affairs of the First National Bank some months ago. The bank resumed business on Saturday, and it has started off with an assurance of financial and friendly support. Mr. Perkins came bv the way of Roosevelt it being his first trip to Arizona, and he was much interested in what he termed the eighth wonder of the world. On arriving in the valley he was wonderfully surprised to view such fine farms. He toured in an automobile over the greater part of the valley yesterday and looked at a tract of land which he contemplates purchasing later. He intends to return with one or two other Illinois business men and plant some capital down in Salt River valley soil and see how it will increase. Mr. Perkins says it did not take thirty minutes' ride through the valley after visiting the dam site to convince him that here was a chance to get in on the ground floor and make some money. He will leave today for Illinois. ONLY ONE COURGE POSSIBLE. Tokio, March 6-(Friday noon)-The Associated Press was informed this morning that the negotiations with China in the matter of the seizure of the Japanese steamer Tatsu, had not reached the ultimatum stage yet and it was further stated that Minister Hayashi at Pekin had not been instructed to that effect. It is also believed that Minister Hayashi has not made any threats to use force. It is admitted, however, that in the event China fails to yield only one course is possible.
21.March 6, 1908Arizona RepublicanPhoenix, AZ
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him was the evidence every where of the restoration of normal conditions after the panic. There is about as much activity in the great mining camps of Globe, Douglas and Bisdee as there was before the trouble began and there appears to have been a full return of confidence. He was at Giobe on the day that the First National Bank, Porter's bank resumed business. When the bank was opened there was no run on it as some had feared; that is there was no run on it in the ordinary meaning of the word, "run" but there was a run after all. People formed in a long line, not to withdraw the deposits which had been caught in the suspension of the institution but to express their confidence in the bank by adding to the deposits. Nowhere was there any talk of hard times or even of entbarrassment.
22.March 13, 1908Daily Arizona Silver BeltGlobe, Miami, AZ
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REORGANIZE FIRST NATIONAL (Continued from Page One) R. C. Andrus of Globe; George H. Cook, A. W. Crawford, Los Angeles; P. A. Johns, C. C, Pennington, Mrs. Florence W. Herndon, Prescott; Dan O'Carroll, Kelvin; H. S. Manuel, F. L. Darbyshire, Nathan Solomon, El Paso; George A. Olney, Mrs. Hattie F. Solomon, Safford; and Mrs. Jennie Solomon, Oakland, Cal. Previous to the reorganization of the First National, its capital stock had been owned exclusively in Globe and as seen, much new capital has been brought to Globe by its rehabilitation, which is almost as important to the city as to the bank. The bank is now doing business with a capital stock of $100,000, and a surplus of $100,000, which makes it $300,000 "to the good" as the stockholders are liable for twice its capitalization or an additional hundred thousand. Another strong feature is in the paper assets of the bank, Before resumption was allowed, all paper declared by the receiver to be worthless had to be taken from the vaults and its fact value substituted in currency, so that all collateral now held by the bank is worth not less than its face value. Mr. Porter is to be congratulated in securing as his associates in business such men as those mentioned, men whose names stand for all that is best and strongest in a financial way, and which are the surest guarantee for the safety of the depositors.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
