7296. Falls City Bank (Louisville, KY)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: private
Start Date: November 1, 1890*
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 94471052

Response Measures

Full suspension

Description

Contemporary accounts state a run occurred in 'last fall' (the Baring Bros./Argentine panic of late 1890) and that clearing-house aid kept the bank afloat for months. On July 10, 1891 the bank made a deed of assignment to the Mechanics' (Merchants'/Mechanic(s) in some reports) Trust Company and closed its doors; later investigation implicated the cashier who fled. Classification: run led to suspension/assignment and permanent closure (creditors' assignment).

Events (3)

1. November 1, 1890* Run

Cause: Macro News
Cause Details: Run began during the nationwide panic following the Baring Brothers complications and collapse of Argentine securities (late 1890), causing steady withdrawals.
Measures: Local clearing-house and other local banks advanced funds (about $100,000 or periodic loans) to prop up the bank.
Newspaper Excerpt: has been in a shaky condition since last fall, when a run was made on it by its depositors.
Source: newspapers

2. July 10, 1891 Receivership

Newspaper Excerpt: entered into a deed of assignment, conveying all of its assets to the Mechanics' Trust Company for the benefit of its creditors.
Source: newspapers

3. July 10, 1891 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Persistent weakness from bad debts/poor liquidity and withdrawal of clearing-house support after months of assistance prompted the directors to suspend and assign assets.
Newspaper Excerpt: The Falls City Bank closed its doors and entered into a deed of assignment, conveying all of its assets to the Mechanics' Trust Company for the benefit of its creditors.
Source: newspapers

Newspaper Articles (21)

1. July 10, 1891 Evening Star Washington, DC

Article from Evening Star, July 10, 1891

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A LOUISVILLE BANK FAILS. The Falls City Bank Closed Its Doors This Morning. LOUISVILLE, Kr., July 1-Financial circles received a tremendous shock this morning when it was officially announced that the Falls City Bank had closed its doors. It was a private corporation and has been in a shaky condition since last fall, when a run was made on it by its depositors. The Falls City Bank closed its doors this morning and entered into a deed of assignment, conveying all of its assets to the Mechanics' Trust Company for the benefit of its creditors. Generous and prompt assistance has kept the unfortunate financial institution on its feet for six months, but the collapse will have but little effect on local finances. The failure six months ago might have entailed serious consequence and have forced several banks to the wall. There is a general feeling of confidence throughout the local money market and all the banks can stand the slight run that may be caused among their depositors by the Falls City collapse. The history of the bank's embarrassments date from the breaking out of the panic which spread over the country last fall in consequence of the Baring Bros.' complications and the collapse of the Argentine securities. Though ably managed the Falls City Bank had got very low in its cash when the tidal wave broke over the country, and rumors of its shaky condition having been circulated throughout business circles there was a steady withdrawal of deposits. At this time a meeting of the clearing house and banks was held and a special aid committee was appointed to inquire into the standing of the bank daily and render the necessary assistance to tide them through the crisis when a failure would mean disaster to all. The local banks advanced $100,000 and offers came from the country banks as well, but they were declined. For a week past the directors of the bank and the clearing house committee have been in consultation daily regarding the collapse that was bound to come in time, and it was generally agreed that as there seemed to be no chance of building up the business at present and the situation was becoming daily more complicated a suspension and assignment was the winest thing that could be done.

2. July 11, 1891 The Times Richmond, VA

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A LOUISVILLE BANK FAILS. Closing of the Falls City Bank Causes a Financial Shock. LOUISVILLE, Ky., July 10.-Financial circles received & tremendous shock this morning when it was officially announced that the Falls City Bank had closed its doors. It was a private corporation and has been in a shaky condition since last fall, when a run was made on it by its depositors. The Falls City Bank closed its doors this morning and entered into a deed of assignment. conveying all of its assets to the Mechanics Trust Company for the benefit of its creditors. Generous and prompt assistance has kept the unfortunate financial institution on its feet for six months. but the collapse will have but little effect on local finances. The failure six months ago might have entailed serious consequence and have forced several banks to the wall. Their is a general feeling of confidence throughout the local money market, and all the banks can stand the slight run that may be caused among their depositors by the Falls City collapse. The history of the bank's embarrassments date from the breaking out of the panic which spread over the country last fall in consequence of the Baring Bros. complications and the collapse of the Argentine securities. Though ably managed. the Falls City Bank had got very low in its cash when the tidal wave broke over the country, and rumors of its shaky condition having been circulated throughout business circles there was a steady withdrawal of deposits. At this time a meeting of the clearing-house and banks was held and a special aid committee was appointed to inquire into the standing of the bank daily and render the necessary assistance to tide them through the crisis when a failure would mean disaster to all. The local banks advanced $100,000 and offers came from the country banks as well, but they were declined For a week past the directors of the bank and the clearing-house committee have been iu consultation daily regarding the collapse that was bound to come in time, and it was generally agreed that as there seemed to be no chance of building up the business at present and the situation was becoming daily more complicated a suspension and assignment was the wisest thing that could be done.

3. July 11, 1891 The Morning News Savannah, GA

Article from The Morning News, July 11, 1891

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A LOUISVILLE BANK FAILS. Depositors Will be Paid in Full-Stockholders in the Soup. LOUISVILLE, KY., July 10.-The - Falls City Bank, established in 1865, went to the wall this morning, making an assignment to the Mechanics Trust Company, and closed its doors at No. 701 West Main street. The liabilities are $431,300, of which $223,900 are due the clearing house, and the deposits are $191,700. The assets, nominally, are $1,223,000. From the beginning of the financial panic last year the bank has been carried along by the clearing house being on the ragged edge all the time. It, has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full and stockholders will get possibly 35 cents on the dollar. The capital stock is $600,000; J. T. Moore is president. The bankers regard the failure as an excellent one, as the creditors were getting ready to bring attachments.

4. July 11, 1891 The State Chronicle Raleigh, NC

Article from The State Chronicle, July 11, 1891

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FALLS CITY BANK CLOSES ITS DOORS. -It was Robbed several Years Ago and Has Never Recovered. By The United Press. LOUISVILLE, Ky., July 10.Financial circles received a tremendous shock this morning, when it was officially announced that the Falls City Bank had closed its doors. It was a private concern, and has been in a shaky condition since last fall, when a run was made on it by depositors. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits. In March, 1873, on a Saturday night the bank was robbed of between four and six hundred thousand dollars in cash and convertable securities. The thieves rented a room just over the bank's vault and worked through the top. The robbery was not discovered until Monday morning as the thieves had fastened the bolts back SO that they could not be opened except by expert workmen. The thieves were never caught, though between $200,000 and $300,000 was recovered at a cost of $83,000.

5. July 11, 1891 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, July 11, 1891

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The Falls City Bank of Lonisville Goes Under With More Than a Million Liabilities. The Assets Foot Up Less Than Half That Amount-Depositors to be Paid in Full. Financial Troubles Dated Back to the Time of the Baring Crisis Last Fall. LOUISVILLE, Ky., July 11.-Financial circles received a shock when it was officially announced that the Falls City bank had closed its doors. It was a private corporation and has been in a shaky condition since last fall, when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000, assets $500,000. Its capital stock was placed at $600,000. It is thought that the depositors will not lose their deposits. The story of the bank's embarrassments date from the beginning of the panic which spread over the country last fall in consequence of the Baring Bros. complications and the collapse of the Argetine securities. Though ably managed the Falls City bank had got very low in its cash, when the tidal was broke over the country and as rumors of its shaky condition have been circulated throughout business circles there was a heavy withdrawal of deposits. At this time a meeting of the clearing house and banks was held and a special committee was appointed to inquire into the standing of the bank daily, and render the necessary assistance to tide them through their trouble when a failure would mean disaster to all. The local banks advanced $100,000 and offers came from the country banks as well, but they were declined. For a week past the directors of the bank and clearing house committees have been in consultation daily regarding the collapse that was bound to come in time, and it was generally agreed that as there seemed to be no chance of building up the business at present and the situation was becoming daily more coin plicated, a suspension and assignment was the wisest thing that could be done. The local bankers are at loth to discuss the failure. In March, 1873, on a Saturday night, the bank was robbed of between $200, 000 and $400,000 in cash and convertible securities. The thieves rented a room just over the bank's vault and worked down through the top. The robbery was not discovered until morning, as the thieves had fastened the bolts 80 that they could not be opened except by expert workmen. The thieves were never captured, though between $200, 000 and $300,000 was recovered at a cost of $83,000.

6. July 11, 1891 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, July 11, 1891

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BUSINESS TROUBLES. Chicago Corporation Wrecked-Five More Southern Banks Fall. CHICAGO, July 10.-A bill filed in the circuit court today to dissolve the Morden Frog and Crossing Works alleges that W. J. Morden, its president, has fraudulently appropriated to his own use over $50,000, ostensiby as salary, royalties, commission, etc. The court is asked to wind up the business and dissolve the corporation. R. W. Dunham, of the grain commission firm of R. W. Dunham & Co., which retired from business & short time ago, has made a proposition for a settlement of $400,000 liabilities. He proposes to pay in full-50 per cent. cash and 25 per cent. each in one and two years. The creditors have practically agreed to this. Nevada, Mo., July 10.-The Citizens' bank of Nevada closed its doors this morning. The notice stated that the stockholders of the bank hoped to pay all claims against the bank at an early date. The bank claims a capital stock of $100,000 and a surplus of $12,000. The failure is attributed to the stringency in the money market and slow collections. All the county funds are locked up in the bank. The amount of liabilities cannot be ascertained. The failure of the Citizen's bank has forced to the wall its three branches in this (Vernon) county. They were located at Brenaugh, Walker and Sheldon. It is impossible at present to obtain an estimate of the assets and liahilities. JACKSONVILLE, Fla., July 10.-The Lake City bank failure is more serious than supposed, and the general impression is that it is a complete wreck, though the president says he will pay up. LOUISVILLE. Ky., July 10.-The Falls City bank made an assignment this morning. Major Tillman, the cashier, says the liabilities are $431,000; assets nominally $1,223,000. It is said that from the beginning of the financial panic last year, the bank has been carried along by the clearinghouse, being on the ragged edge all the time. The bank owes the clearing-house $223,900. It has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full, and the stockholders will possibly get 35 cents on the dollar. There was a shaky feeling on the streets for a while, but things have recovered.

7. July 11, 1891 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, July 11, 1891

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NEWS OF THE DAY. Joseph Swartz, a Toronto, Ont., shoe dealer, has decamped, leaving $10,000 of debts. Chicago Democrats propose to make Carter Harrison mayor during the World's Fair. The national council of the National Educational Association is in session at Toronto, Ont. "The" Allen, the New York divekeeper, was dangerously stabbed in a quarrel over a game of cards. Paul Mitzka was killed at Plymouth, Pa., by falling beneath the wheels of a freight train on which he was tr ing to steal a ride. The Rev. M. W. Jacobus, of Princeton, N. J., has been elected to and has accepted the chair of the New Testament Exegesis in the Theological Seminary, Hartford, Conn. The result of the recent census of England and Wales has been announced. The total population is given as 29,001,018, an increase of 3,026,372, or 11.26 per cent. over the previous census. An incendiary fire at Darien, Conn., destroyed the feed store of Mather & Grannam, Mathew Lambert's road house, and George Bailey's livery stable. The total aggregate loss will reach $25,000. William C. Duncan, the 17-year-old clerk, who in January last stole diamonds valued at $30,000 from his employers, Messrs. Lewiston & Co., of New York, was sentenced to four years and five months imprisonment in the penitentiary. The Falls City Bank of Louisville, Ky., has closed it doors. It was a private corporation and has been rather shaky since last fail, when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000. Its capital stock is placed at $600,000. It is not thought that the depositors will lose any of their money.

8. July 11, 1891 Telegram-Herald Grand Rapids, MI

Article from Telegram-Herald, July 11, 1891

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OVER A MILLION GONE Enormous Debts of the Falls Bank of Louisville, Ky. THE LIABILITIES ARE $1,400,000 Its Head Kept Above Water for a Long Time by Other Banks-They Withdraw Their support and It Collapses. LOUISVILLE, Ky., July 10.-The Falls City bank has closed its doors, making an assignment to the Mechanics' Trust Company. Baddebts and bad management are responsible. For over six months the clearing house has been tiding it over, but it was never able to recover from the panie of last December, when the general money market was so tight. It had a capital stock of $600,000. The liabilities, including the capital stock, will reach $1,400,000. The depositors will probably be paid in full, but the stockholders will be fortunate if they get 10 per cent. The bank has been in a tottering condition for some time. It began to topple last December, but the other banks, fearful that its failure would precipitate a general crash, came to its rescue. First the clearing house loaned it $50,000, then a month later $50,000 more. It has thus been kept up until the danger of a general panic was averted. The other banks, however, have since obtained a firm footing and recently concluded to withdraw the props from the Falls City bank. This was done with the above result. The entire liabilities are $1,400,000, against which there is a capital stock of $600,000 and about $100,000 in other assets. It owes the clearing house about $250,000. In 1869 this bank was the victim of one of the most sensational robberies in criminal history. The robbers engaged a room overhead and bored through the walls into the vault, securing $400,000 in money and collaterals.

9. July 11, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN

Article from Daily Tobacco Leaf-Chronicle, July 11, 1891

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BIG BANK FAILURE. The Falls City Bank, of Louisville, Forced to Close Its Doors. Louisville, July 11.-Financial circles received a tremendous shock Friday morning when it was officially announced that the Falls City bank had closed its doors. It was a private corporation, and has been in a shaky condition since last fall when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000. Assets $100,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits. The Falls City bank officers now state that their assets will be $1,200,000, and liabilities little more than half that amount. The-depositors will be paid in full, and it is expected there will be something left for the stockholders. The bank's money was tied up in loans and this. together with the depositor's withdrawals, brought about the collapse.

10. July 11, 1891 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 11, 1891

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A LOUISVILLE BANK ASSIGNS. Liabilities, $431,300; Assets, $1,223,000-" An Excellent" Failure. [By telegraph to the Dispatch.] LOUISVILLE, KY., July 10.-The Falls City Bank, established in 1865, went to the wall this morning. The bank made an assignment to the Mechanic Trust Company and closed its doors at 701 west Main street. The liabilities are $431,300, of which $223,900 is due the "clearing-house, and the deposits are $191,700. The assets (nominal) are $1,223,000. From the beginning of the financial panic last year the bank has been carried along by the clearing-house, being on the ragged edge all the time. It has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full and the stockholders will get possibly thirty-five cents on the dollar. The capital stock of the bank IS $600,000 and J. T. Moore is president. Bankers regard the failure as an excellent one, as the creditors were getting ready to bring attachments.

11. July 11, 1891 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, July 11, 1891

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A HEAVY FAILURE. Falls City Bank Suspends With Liabilities of $1,000,000. LOUISVILLE, Ky., July 10.-|Special]Financial circles received a tremendous sheck this morning when it was officially announced that the Falls City Bank had closed its doors. It was a private corperation and had been in a shaky condition since last fall, when a run was made on it by its depositors. The liabilites are about $1,200,000, assets $600,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose all their deposits. In March, 1873, on a Saturday night, the bank was robbed of between $300,000 and $400,000 in cash and convertible securities. The thieves rented a room just over the bank's vault and worked down through the top. The robbery was not discovered until Monday, as the thieves had fastoned the bolts back SO that they could not be opened except by expert workmen. The thieves were never caught. thought between $200,000 and $300,000 was recovered at a cost of $83,000.

12. July 11, 1891 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, July 11, 1891

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TELEGRAPH BREVITIES. The collector of customs at San Francisco has been instructed to assess a duty of ½ cent per pound on copper in excess of the 3 per cent contained in silver lead ore. Gen. Daniel E. Sickles denies that his mission to Tennessee under the direction of President Lincoln was of a political nature. The Louisiana delegates to the National Editorial association at St. Paul, Minn.,left yesterday. They are twenty-three in number, and are accompanied by their wives, sisters or daughters. A motion for an appeal in the case of the schooner Robert and Minnie to the court of appeals in San Francisco was granted by United States District Judge Ross. Hon. D. M. Key, judge of the circuit court and postmaster-general under President Hayes, has accepted the position of dean of the law school of Grant university at Chattanooga, Tenn. Bishop Joyce, now chancelor of the university, made the tender of the position. A hamlet near Bourg D'Oysans, eighteen miles from Grenoble, France, was destroyed by firo last night. Fifteen families are homeless. At Louisville, Ky., yesterday Edward Gard, arrested at Birmingham on informa tion furnished by a pal with whom he failed to divide, was sentenced to two years for robbing Joseph Freidman of Paducah, Ky., of $2500 worte of jewelry and money. The steamer Hunston sailed for Chili yesterday from San Francisco loaded with provisio ns for the insurgents and another will follow soon. Fully $1,000,000 worth of merchandise has already been shipped to the insurgents. The Falls City bank of Louisville, Ky., assigned to the Mechanics' trust company and closed its doors yesterday. Liabilities $431,300, assets nominal $1,223,000. The depositors will be paid in full and thestockholders vill probably get 35 cents on the dollar. H. Kern & Co., New Orleans dry goods merchants, ask for a respite. Assets $179,000: liabilities, $114,000.

13. July 11, 1891 Pittsburg Dispatch Pittsburgh, PA

Article from Pittsburg Dispatch, July 11, 1891

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DOWN GOES ANOTHER BANK. A LOUISVILLE PRIVATE INSTITUTION CLOSES ITS DOORS. The Baring Brothers' Panic a Few Months Ago Caught It Short of Cash-The Bank Never Recovered From the Shock-Other Banks Safe. LOUISVILLE, July 10.-Financial circles received a tremendous shock this morning, when it was officially announced that the Falls City Bank had closed its doors. It was a private corporation, and has been in a shaky condition since last fall, when a run was made on it by its depositors. The liabilities are about $431,000; assets, nominal, $1,223,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits. The bank officials this morning entered into a deed of assignment, conveying all of its assets to the Merchants' Trust Company for the benefit of its creditors. The collapse will have but little effect on local financiers. A failure six months ago might have entailed serious consequences and have forced several banks to the wall. There is a general feeling of confidence throughout the local money market, and all the banks can stand the slight run that may be caused among their depositors by the failure. The history of the bank's embarrassment dates from the beginning of the panic which spread over the country last fall in consequence of the Baring Brothers' complications, and the collapsed of the Argentine securities. Though ably managed, the Falls City Bank had got very low in its cash when the tidal wave broke over the country, and rumors of its shaky condition having been circulated throughout business circles, there was a steady withdrawal of deposits. The local banks came to its assistance and tided it over the crisis, but since then the institution has gradually weakened and the collapse came to-day.

14. July 11, 1891 Fort Worth Gazette Fort Worth, TX

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FALL CITY BANK, Louisville, Ky., Goes to the Wall-Depositors to be Paid in Full. LOUISVILLE, KY., July $10.-The Falls City bank went to the wall this morning. The bank made an assignment to the Mechanics' trust company and closed its doors at 71 West Main street. The liabilities are $431,000, of which $223,900 is due to the clearing house. and deposits are $191,700. The assets (nominal) are $1,223,000. From. the beginning of the financial panic last year the bank has been carried along by the clearing house, being on the ragged edge all the time. It has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full, and the stockholders will get possibly 35 cents on the $1. The capital stock of the bank is $600,000, with J. Q. Moore president. Bankers regard the failure as an excellent one, as creditors were getting ready to bring attachments.

15. July 11, 1891 The Sun New York, NY

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FAILURE 02 THE FALLS CITY BANK. It Had Been Carried Along Many Months by the Louisville Clearing House. LOUISVILLE. July 10.-The Fails City Bank went to the wall this morning. The bank made an assignment to the Mechanic Trust ComDany. and closed its doors at 701 West Main street. The liabilities are $431,300. of which $223,900 is due the clearing house, and the deposits a e $191,700. The assets (nominal) are $1,223,000. From the beginning of the financial panic last year the bank has been carried along by the clearing house. Depositors will receive ment in tull and the stockholders will get possibly 3, cents on the dollar. The capital stock of the bank is $800,000. J.T. Moore is its President. The bank was established in:1865. Major William Tillman. cashier. gave out this Fla ement: Dinimities- individual depositors, $161,000: saving deposits. $80,700: certificates of deposit. $15,700: the bank and the clearing house. $223,000: total, $431,300. Assets-total (nominal). $1,223,000. NEVADA. Mo., July 10.-The Citizens' Bank of Nevada closed its coors this morning. A notive wa- posted on the front door of the bank stating that the stockholders hoped to par all claims against the bank at an early ente. The bank's capital stock is $100,000, and its alleged surpius $12,000. It has R. line building. The failure is attributed to the stringency of the money market and to slow collections. AI the county funds are locked up in the bank. No statement of liabilities has been issued.

16. July 16, 1891 Iron County Register Ironton, MO

Article from Iron County Register, July 16, 1891

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CLOSED ITS DOORS. The Falls City Bank of Louisville, Ky., Succumbs to a Continuance of Adversity -An Assignment Made and the Doors Closed-The Depositors will be Paid in Full and the Stockholders May Realize Something. LOUISVILLE, Ky., July 11.-The Falls City bank has closed its doors and entered into a deed of assignment, conveying all of its assets to the Mechanics' Trust Co. for the benefit of its creditors. The news caused a great shock in the business community, although it has been known that the bank was in a shaky condition for some time. Generous and prompt assistance has kept the unfortunate financial institution on its feet for six months, but the collapse will have but little effect on local financiers. The failure six months ago might have entailed serious consequences and have forced several banks to the wall. There is a general feeling of confidence throughout the local money market and all the banks can stand the slight run that may be caused among their depositors by the Fall City collapse. The history of the bank's embarrassments dates from the beginning of the panie which spread over the country last fall in consequence of the Barring Bros' complications and the collapse of the Argentine securities. Though ably managed, the Falls City bank had got very low in its cash when the tidal wave broke over the country, and rumors of its shaky condition having been circulated throughout business circles there was a steady withdrawal of deposits. At this time a meeting of the clearing house and banks was held and a special aid committee was appointed to inquire into the standing of the bank daily and render the necessary assistance to tide them through the crisis when a failure would mean disaster to all. The local banks advanced $100,000 and offers came from the country banks as well, but they were declined. For a week past the directors of the bank and the clearinghouse committee have been in consultation daily regarding the collapse that was bound to come in time, and it was generally agreed that as there seemed to be no means of building up the business at present, and the situation was becoming daily more complicated, a suspension and assignment was the wisest thing that could be done. The local bankers are loth to discuss the failure. In March, 1873, on a Saturday night, the bank was robbed of between $300,000 and $400,000 in cash and convertible securities. The thieves rented a room just over the bank's vault and worked down through the top. The robbery was not discovered until Monday morning as the thieves had fastened bolts back so that they could not be opened expect by expert workmen. The thieves were never caught. though between $200,000 and $300,000 was recovered at a cost of $83,000. The Falls City bank officers now state that their assets will be $1,200,000 and liabilities a little more than half that amount. The depositors will be paid in full, and it is expected there will be something left for the stockholders. The bank's money was tied up in loans, and this, together with the depositors' withdrawals, brought about the collapse.

17. July 16, 1891 River Falls Journal River Falls, WI

Article from River Falls Journal, July 16, 1891

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OVER A MILLION. Enormous Debts of the Falls Bank of Louisville, Ky. LOUISVILLE, Ky., July 11.-The Falls City bank has closed its doors, making an assignment to the Mechanics' Trust Company. Bad debts and bad management are responsible. For over six months the clearing house has been tiding it over, but it was never able to recover from the panie of last December, when the general money market was so tight. It had a capital stock of $600,000. The liabilities, ineluding the capital stock, will reach $1,200,000. The depositors will probably be paid in full, but the stockholders will be fortunate if they get 10 per cent. The bank has been in a tottering condition for some time. It began to topple last December, but the other banks, fearful that its failure would precipitate a general crash, came to its rescue. First the clearing house loaned it $50,000, then a month later $50,000 more. It has thus been kept up until the danger of a general panie was averted. The other banks, however, have since obtained a firm footing and recently concluded to withdraw the props from the Falls City bank. This was done with the above result. In 1869 this bank was the victim of one of the most sensational robberies in criminal history. The robbers engaged a room overhead and bored through the walls into the vault, securing $400,000 in money and collaterals.

18. July 29, 1891 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, July 29, 1891

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South and West. THE Falls City Bank, Louisville, Ky., closed its doors. It was a private corporation and has been in a shaky condition since last fall, when a run occurred. The liabilities are $1,300,000. The capital stock was $600,000. AT a meeting in Chicago, III., of the Board of Control of the World's Columbian Exposition. Walker Fearne was confirmed as Chief of the Department of Foreign Affairs. THOMAS ROACH. of Fort Worth, Texas, committed suicide by shooting. He was a railroad contractor and leaves an estate valued at $500,000. FIFTY white families, charged with being intruders upon Indian lands, in Indian Territory, were corraled by Chichasaw militia, and put across the Texas border. A TREMENDOUS sensation was created at the Norfolk (Va.) Navy Yard by the arrest of Paymaster's Clerk James Van Vranken and H. W. Coston, a clerical employe, on the charge of stealing composition metal and other goods from the Government to the value of $10,000. THE boiler of a threshing engine exploded near Bruceville, Ind., instantly killing John Fleck. Richard Price was fatally injured and five men were seriously scalded. ROBEBT MONROE, a half-breed, aged fifty years, was killed in his bei near Duncan, Indian Territory. His two stepdaughters, aged eighteen and twenty, are under arrest, and the younger made a statement that she held a candle while her sister plunged a knife into the sleeper's heart. The girls killed Monroe to avenge the death of their mother, who died from the effect of a beating. THE St. Louis Hotel, Duluth, Minn., was destroyed by fire, causing a loss of about $400,000. AQUILLA JONES, the venerable Indiana politician, died in Indianapolis. He was born near Salem, N. C., July 11, 1811. Gus SWEDBERG shot and killed his boarding mistress, Mrs. G. Hedberg, at a Swedish boarding house, near Joliet, III. Swedberg then blew his own head off with a shot gun. He had been on a protrated spree. No one knows why he killed the woman. ANDREW PETERSON and N. O. Anderson were murdered near Fair Play, Col., by high. waymen. IN Blount County, Ga., William Hollingsworth and John McCoy, prominent farmers, fought a duel to the death. Hollingsworth was accused by McCoy of insulting his sister. McCoy fractured Hollingsworth's skull with a rock, and Hollingsworth stabbed McCoy three times. Both men died next day. Two men and a colored boy were drowned near San Miguel Islands, Cal., while hunt ing seals. Another man ciung to a rock twenty-four hours and was saved. AN English syndicate has obtained control of the principal glucose houses of this country, the contract being closed at Chicago, III. WHILE the funeral sermon of his wife was being preached in the Methodist Church of Tower Hill, III., the Rev. W. B. F. Corley suddenly fell from his seat and died in a few minutes. The funeral exercises were suspended, and Mr. and Mrs. Corley were buried together. PERRY HUDSON, proprietor of the Enterprise Hotel at Rico, Col., shot and killed Rora Conway, aged twenty-two, and then blew his own brains out. Jealousy was the cause.

19. August 29, 1891 Evening Star Washington, DC

Article from Evening Star, August 29, 1891

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A Louisville Cashier Takes Flight. LOUISVILLE, Ky., August 29.-Major William Tillman, cashier of the Falls City Bank, which recently collapsed in this city, has fled to Canada. The news line caused a sensation both in financial and social circles. the fugitive being a prominent figure in both. His flight was prompted by the investigation which is being made into the affairs of the suspended bank, the disclosures being exceedingly damaging.

20. September 10, 1891 Wood County Reporter Wisconsin Rapids, WI

Article from Wood County Reporter, September 10, 1891

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# THE LATEST NEWS. GENERAL NOTES. GERMANY, it is said, will remove all restrictions on American pork. THE assessed valuation of South Dakota is $228,318,160. THE John Thompson grocery company, of Denver, has failed for $50,000. VENEZUELA has not rejected reciprocity with the United States, as reported. A PHILADELPHIA woman went mad through brooding over a clairvoyant's predictions. THE monuments erected at Gettysburg in memory of the Illinois soldiers, were unveiled Wednesday. THE Knickerbocker grain a stock exchange company, of Albany N. Y., has suspended. THE last Saturday's statement of the New York banks show a decrease in reserves of 1,233,000. CHICAGO is to have an Odd Fellows temple thirty-four stories high-as high as the Washington monument. EX SENATOR TAYLOR has sold the Poorman mine at Caribou, Colo., to Leonard Gow of Glasgow for $850,000. THE central market company, of Chicago, assined Thursday morning, William P. Williams being appointed receiver. Its liabilities are $160,000. MAIL is sent from Japan to England in less than twenty one days crossing the Pacific and Atlantic oceans and the North American continent. NEARLY all of the short line trains between St. Paul and Minneapolis are to be withdrawn by the Great Northern and Milwaukee roads. THE American steamer George W. Starr has been seized by a government revenue cutter for smuggling Chinese into this country. CABINET makers in Chicago, numbering 2,000, struck Tuesday for an eight hour day. The employers say this is the dull season and they can well afford to keep the shops idle for a time. TILLMAN, late cashier of the defunct Falls City bank at Louisville, has reached Canada. He denies that there is a shortage in his accounts. REV. J. W. OLMSTEAD, editor of The Watchman, a Boston Baptist denominational paper, died at Manchester-by-the-Sea Monday morning. THE new submarine cable line, which for the first time provides direct telegraphic communication with Brazil, is now open. CENSUS Commissioner Porter announces as a final report, that the United States has a population of 62,622,250. MINISTER EGAN's dispatch announcing the success of the Chilian congressionalists has been received at the state department. The delay in receiving the dispatch was caused by interruption in the telegraphing service. SECRETARY PROCTOR has written his reply to Governor Page's tender of the position of senator from Vermont to succeed Senator Edmunds. He will probably send it early next week or carry the letter in person when he goes north. THE efforts of Melbourne to produce rain at Cheyenne, Wyo., were successful. A half inch of rain fell Tuesday, when, according to the government signal service observer, there had been no premonitions of a storm. TWENTY ONE new claimants to Mrs. Hopkins-Searles' estate have appeared, and Edward F. Searles will not now be allowed to enjoy the millions without a hard struggle.

21. October 7, 1891 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, October 7, 1891

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Clothing House Closed. LOUISVILLE, Oct. 7.-Jacob Kuhn's wholesale jeans clothing establishment assigned today. Liabilities $40,000, assets nominally the same. The failure of the Falls City bank forced payment of his debts.