7317. Kentucky National Bank (Louisville, KY)

View Charter #1908 on SPMC

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 1908
Charter Number: 1908
Start Date: July 22, 1893
Location: Louisville, Kentucky (38.254, -85.759)

Metadata

Model: gpt-5-mini
Short Digest: 36a4e0ae

Response Measures

Full suspension, Books examined

Description

Multiple articles report a heavy run/withdrawals culminating in suspension on July 22, 1893. The bank later received permission to reopen (Controller authorized resumption Oct 2, 1893). Cause is attributed in coverage to runs sparked by other bank failures and general local panic/withdrawals; bank also had illiquid paper. President and inspectors believed bank solvent.

Events (5)

1. December 27, 1871 Chartered

Source: historical_nic

2. July 22, 1893 Run

Cause: Local Banks
Cause Details: Run and heavy withdrawals followed failures and suspensions of other banks (Milwaukee, Indiana banks and local Louisville banks), producing panic and withdrawals from Kentucky National.
Measures: Bank directors closed doors; Bank Inspector Escott took charge of books and funds; Bank Examiner to examine and Comptroller to review.
Newspaper Excerpt: The suspension had been expected, as the bank had a large amount of paper which, though gilt-edged, could not be realized on.
Source: newspapers

3. July 22, 1893 Suspension

Cause: Local Banks
Cause Details: Suspension followed heavy withdrawals and inability to realize on a large amount of outstanding paper; press ties suspension to recent failures in Indiana and runs on other banks in the city/state panic context.
Newspaper Excerpt: The Kentucky National bank closed its doors after 10 o'clock this morning, and the announcement was made by the board of directors that payment had been suspended.
Source: newspapers

4. October 2, 1893 Reopening

Newspaper Excerpt: The controller of the currency has authorized the Kentucky National Bank of Louisville, Ky., to resume business October 2 and ... The Kentucky National Bank of Louisville, Ky. ... have been permitted to reopen their doors for business.
Source: newspapers

5. June 2, 1894 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (24)

1. July 22, 1893 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 22, 1893

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crushed and burned in a horrible manner and was dead when extricated. Among the failures reported to-day are the Citizens' Bank of Jellico, Tenn; the First National Bank of Anthony, Kon.; the Milwaukee National Bank and South Savings Bank of Milwaukee: the Union Bank of Greeley, Col ; the private banking house of J. and L. Galbraith at Lampasas, Tex.; the State National Bank of Knoxville, Tenn.; the Kentucky National Bank of Louisville; and the State National Bank of Vernon, T.x. There is a heavy run on the German American and Merchants' Exchange Banks of Milwankee. At Shooting Park on the outskirts of Milwaukee, Wis., two thousand five hundred turners from all parts of the United States c ngregated yesterday, and the twenty-sixth annual bundesturufest WAS inaugurated. A duel, that resulted fatally to both the participants, took place in the outskirts of Victoria. Mex., on Thursday between a young law student and a young business man. The quarrel was over a young woman. Weather permitting Edw. Hanlan and Jacob Gaudaur will row at Orillia, Ont., this afternoon for the championship and a stake of $2,000.

2. July 23, 1893 The Herald Los Angeles, CA

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NATIONAL BANK FAILURES, Two Hundred Since the First of January. Five of Them Were United States Depositories. The National Bank of Kentucky Closes Its Doors. Several More Collapses in Mllwaukee. Business Failures Throughont the Country-Financlal Gossip. By the Associated Press. WASHINGTON, July 22.-Since the 1st of January 200 national banks have closed their doors, against less than 50 for the same period last year. Of the failures this year, five have been United States depositories, as follows: First National bank of Little Rock, Ark. ; Gate City National bank of Atlanta, Ga. ; People'a National bank of Denver, Colo. German National bank of Denver, Colo. Kentucky National bank of Louieville, Ky. This latter bank, which closed its doors today, had by the last report received $330,000 of United States funds. The government, however, will not lose anything by these failures, as each national bank that is a government depository has to deposit United States bonds to the amount of the government money it is allowed to carry. In addition to the heavy failure of the government depository at Louisville, three other failures of national banks were reported to Comptroller Eckels this morning-the State and First National banks of Kernon, Texas, capital $100,000 and $80,000 respectively, and the State National bank of Knoxville, Tenn., capital $100,000, all email institutions. The deposits in each are in the neighborhood of $100,000. The comptroller has appointed William A. Rice receiver of the Puget Sound National bank of Everett, Wash., and George Hoffman receiver of the Bozeman National bank of Bozeman, Mont.

3. July 23, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, July 23, 1893

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KENTUCKY NATIONAL. One of the Louisville Banks Closes Temporarily. LOUISVILLE, Ky., July 22.-The Kentucky National bank closed its doors after 10 o'clock this morning, and the announcement was made by the board of directors that payment had been suspended. There was no excitement, and no one would have suspected that the bank had closed up but for a crowd of loafers and newsboys who congregated on the sidewalk. The suspension had been expected, as the bank had a large amount of paper which, though giltedged,could not be realized on. The bank was the government depository, and the government has a large sum on deposit, which is amply protected by United States bonds. President Fetter said that he had full confidence in the solvency ot the bank, and believed that

4. July 23, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, July 23, 1893

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LONDON FIGURES. Carlisle Says They Must Rule. HE SUSTAINS MR. PRESTON. Over Two Hundred National Banks Have Failed Since the Beginning of the Year. Special to THE MORNING CALL. WASHINGTON, July 22.-Secretary Carlisle this morning authorized the Associated Press to state that he fully approves of the policy pursued in his absence by acting Mint Director Preston in purchasing silver, and that the same poitey will govern silver purchases in the immediate future. This statement will set at rest rumors that the Secretary would on his return reverse the policy of the treasury in purchasing silver. Preston was intrusted by Secretary Carlisle with rentirediscretion in purchasing silver when he left on his vacation. This morning with the approval of Secretary Carlisle he refused to purchase 100,000 ounces of silver at 70 cents, the London price being about 691/2 cents. This lot was part of a lot offered yesterday at 73 cents and was declined and counter offer made of 71 1/2 cents, which the holder refused to accept. This morning he offered as stated 100.000 ounces at 70 cents, but Preston informed the offerer that he only purchased silver on silver days-Mondays, Wednesdays and Fridays. The total silver purchased 80 far this month is about 1,800,000 ounces, besides some local purchases which may bring the total up to 2,000,000 ounces. It is not expected the total of 4,500,000 ounces will be purchased this month, but this does not worry the treasury officials, as Secretary Carlisle holds with Preston that the law does not require the treasury to purchase that amount in case it is not offered within the market price. Since the 1st of January nearly 200 national banks have closed their doors against less than 50 during the same period last year: five have been United States depositories, as follows: First National Bank of Little Rock, Ark.: Gate City National Bank of Atlanta, Ga.; People's National bank of Denver, Colo.: German National Bank of Denver, Colo.; Kentucky National Bank of Louisville, Ky. This latter bank, which closed its doors to-day, had, by the last report, received $320,000 of United States funds. The Government, however, will not lose anything by these failures, as each national bank that Is a Government depository has to deposit United States bonds to the amount of Government money it is allowed to carry. In addition to the heavy failure of the Government Depositors' Bank at Louisville, three other failures of national banks were reported to Comptroller Eckels this morning. The failed banks are: The State and First National banks of Vernon, Tex., capital.$100,000 and $80,000. respectively. and the State National Bank of Knoxville, Tenn.. capital $100,000. All are small institutions, the deposits in each being in the neighborhood of $100,000. The Comptroller appointed William A. Rice receiver of the Puget Sound National Bank at Everett, Wash., and George Hoffman receiver of the Bozeman National Bank at Bozeman, Mont.

5. July 23, 1893 The Morning Call San Francisco, CA

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AND LOUISVILLE. MILWAUKEE A National Bank Fails in Each of These Cities. MILWAUKEE, July 22.-The Milwaukee National Bank failed to open its doors this morning. The report of the bank made July 12 shows the following: Resources, $1,965,386; liabilities. deposits, $723,998; due other banks, $196,910: other liabilities, $445,048; capital stock, $250.000; surplus, $250,000; undivided profits, $99,439. When it became known that the Milwaukee National had suspended a run was inaugurated on all the leading banks of the city. The Southside Savings was unable to stand the strain and closed its doors at 10:30 A. M. The report of this bank, made the first Wednesdav in this month, showed: Resources, $1,158,965; liabilities due depositors $1,021,465, due others $25,000; capital stock, $100,000; undivided profits, $12,500. The situation changed for the better as the day wore on. The run on the Merchants' Exchange, which was the heaviest, subsided in consequence of the posting of a guarantee notice by the leading citizens. The other bank where the run was heavy was the Second Ward National, in which were mostly small German depositors; but it has the backing of the big brewers, and no danger is apprehended. President Noyes of the Milwaukee National has given a statement for publication, in which he says the bank is perfectly solvent. with assets of $500,000 above liabilities, but in the present strained condition of affairs it was thought best to close the doors. LOUISVILLE, Ky., July 22.-The Kentucky National Bank, capital $1,000,000. has failed. There is no statement and no excitement. The other banks are considered all right. It is thought the bank will be able to resume shortly. The bank is a Government repository. In the statement published July 16 Governmen: deposits were placed at $191,731; deposits of United States disbursing officers, $138,268; cash on hand, over $85,000; deposits subject to check. $311,695; loans and discounts, $1.719,966. There was no excitement and no one would have suspected that a bank had closed up but for the crowd of loafers on the sidewalk. The suspension has been expected, as the bank has a large amount of paper, which, though gilt-edged, could not be realized on. President Fetter said to an Associated Press representative that he had full confidence in the solvency of the bank, and believed that business would be resumed as soon as an examination had been made by the Bank Examiner and the bank's condition passed upon by the Comptroller. KNOXVILLE, Tenn., July 22.-The State National Bank failed this morning. The notice on the door says: "The bank is closed for liquidation. The depositors will be paid in full." The cause of the suspension is the withdrawal of $20,000 yesterday. Last night the other banks offered $40,000 assistance, but it was not accepted. The run began at the opening

6. July 23, 1893 The Sun New York, NY

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A LOUISVILLE BANK STOPS. The Kentucky National Shots its Doors Owlng Depositors $1,483,000. LOUISVILLE. July 22-The Kentucky National Bank suspended payments nt 10 o'clock this morning. The directors had just held a me-ting and decided that it was uselessto continue business, and the doors were closed. Bank Inspector Escott was called in and immediately took charge of the books and funds. The suspension caused no surprise. and didn't even start a run on any of the savings banks. The Kentucky National has been in straits for two years and a half. and was saved from failure once by the action of the Custom House officials. who liberally advanced funds to them. That storm was weathered, but the bank's credit was badly shaken. and it has never recovered from the blow. It has been managed with care. and it is believed that its assets will be sufficient to pay the depositors in full. The stockholders may not realize more than sixty or seventy cents on the dollar. The immediate causes of the suspension were the recent bank failures In Indiana. The Kentucky National did a large business in the Gas Belt and has felt every failure. Several months ago W. H. Thomas and son of this city, the Inrgest owners of fine whiskey in the world. suspended payment. They were debtors to the bank for more than half a million. and though they resumed business they have not been able to take up their paper. The President of the bank is J. M. Fetter. He sueceeded Logan Murray. who went to New York and organized the Union National. Its capital is $750,000. and it has about $1,453,000 of deposits. Its cash is only about $100,000, but it has other resources.

7. July 24, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, July 24, 1893

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Bank Troubles Since January 1. 1 WASHINGTON, July 22.-Since Jan. nearly 200 national banks have closed their doors, against less than 50 during the same period last year. Of the failures this year five have been United States depositories, as follows: The First national bank of Little Rock, the Gate City national 1 ank of Atlanta, the People's national bank of Denver, the German national bank of Denver, the Kentucky national bank of Louisville. The latter bank which closed its doors today had by the last report received $330,000 of United States funds. The government, however, will not lose anything by these failures, as each national bank that is a government depository has to deposit United States bonds to the amount of government money it is allowed to carry. These bonds, in case of failure, are sold for the account the government and as United States bonds are at a premium in the financial market there is never any difficulty in realizing. Saturday's Bank Failures. LOUISVILLE, July 22. - -The Kentucky National Bank of this city closed its doors this morning. The capital stock is $1,000,000 paid up. This bank is a government depository, and its last statement showed $190,000 to the credit of the government. The loans and discounts outstanding amounted to $1,719,966 and the surplus was $108,500. KNOXVILLE, July 22.-The - State National bank closed this morning. The notice posted on the door says: "This bank has closed for liquidation. Depositors will be paid in full." Liabilities and assets are not known. MILWAUKEE, July 22.-The Milwaukee National bank and South Side Savings bank failed to open their doors this morning. Runs were made on all the leading banks in the city. Cleveland Counts Up. NEW YORK, July 25.-The - Bond Buyer today prints the following: "Just as we go to press we learn that President Cleveland has had made by one of the most

8. July 24, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM

Article from Santa Fe Daily New Mexican, July 24, 1893

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STILL TUMBLING. silver's Depression and Fear of Free Trade Continue to Cause Many Hig Business Failures. LOUISVILLE, Ky., July 24.-The Kentucky National bank with a capital of $1,000,000 has suspended. The bank is the government depository and in the statement of the bank published July 12, the government deposits are placed at $191,731, and deposits of United States disbursing officers $138,268. Resources $2.742,764; liabilities much less. Knoxville.- - The State National bank of this city closed its do ors Saturday. A slight run was made on the City National only, which is just opposite the State, but her depositors were paid in full. The scare was soon over. There is no more uneasiness felt here. Milwaukee. - The Southside Savings bank and the Milwaukee National bank have failed. The closing of the Milwaukee National bank was a surprise even to some of the stockholders. J. M. Perles, who owns a block of the bank's stock, says there is no reason why the bank should have closed except that they were compelled to stand a run. Statements a few days ago showed bank assets exceeding liabilities amounting to between $500,000 and $600,000. Pueblo, Colo.-Judge Hallet, of the U. S. supreme court, has appointed H. E Chubbeck, of Pueblo, Colo., receiver of the Pueblo Street Railway company and the International Trust company. The liabilities are $700,000.

9. July 26, 1893 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, July 26, 1893

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The Flurry In Louisville. LOUISVILLE, July 26-A memorable day in the history of Louisville has just passed. The Merchants' National bank posted a notice of suspension, and half an hour later the failure of the Louisville Deposit bank was announced. By this time half a dozen banks in the city were being run on by depositorsmostly small sums. They all stood the pressure except one-the Fourth National -which closed its doors in the board of trade building. Excitement was running high, and every one of half a dozen banks was crowded with depositors, who were in line waiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky National bank on Saturday. Then came the Louisville City National bank Monday, after the intervention of a Sunday holiday, and then the Merchants' bank, the Louisville Deposit and Fourth National.

10. July 26, 1893 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, July 26, 1893

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Louisvllle Banks. LOUISVILLE, Ky., July 25.-This will prove a memorable day in the financial history of Louisville. At 10 this morning the Merchants' National bank posted a notice of suspension, and a balf hour later the failure of the Louisville Deposit bank was announced. By this time half a dozen banks in the city were being run on by depositors, mostly small ones. They all withstood the pressure except one, the Fourth National, which closed its doors. Excitement ran high and every one of a half dozen banks was crowded with depositors in line waiting his turn with the paying teller. The first failure of the present crisis was that of the Kentucky National bank Saturday. Then came the Louisville City Monday and the Merchants' National. the Louisville Deposit, and the Fourth National today. The failure of the Merchants' National was caused by withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the Clearing House association, and in its time of need no other bank would give it assistance, The suspension of the Fourth National was the result of a panic. For a week there has been a steady pulling out of deposits. This changed into a run after the suspension of the Kentucky National last Saturday. and even continued Monday and Tuesday and until all funds were exhausted today. None of the failures are considered bad ones. The depositors in the two national banks will be paid in full and the loss to stockholders will not be more than 60 per cent in either case. The Merchants' National bank was capitalized at $500,000 and J. H. Lindenberver was president. The Fourth National's capital is $1,000,000 and the surplus $35,000. Geo. Davis is president. The Louisville Deposit bank has a capital of $300,000 and a surplus of $16,128. Moses Schwarts is president.

11. July 29, 1893 Macon Beacon Macon, MS

Article from Macon Beacon, July 29, 1893

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pottis. A DISASTROUS firea Long Island City destroyed two blocks of business buildings and caused a loss of $800,000. SEVERAL points in Illinois report farmers working night and day cutting outs comparatively green to escape the army worm, which is now taking the fields. A CUT of $5 in round-trip world's fair rates has been made from points south of the Ohio river. TEXAS railroad passenger earnings for the quarter ended June 3 last show a slight increase over last year. THREE of a gang of Hebrew robbers were captured by the New York police. The gang would entice members of their race to their room and beat and n rob them. THE report of Internal Revenue Inspector Hart is that sugar planters will t lose nearly $700,000 by the Rescue crevasse in Iberville parish, La. f A GENERAL shutdown of the textile mills of New England on account of the financial stringency is in progress. d THE Minnesota supreme court has decided that a boycott directed against an offending member of an association is not only lawful but laudable. A PRIVATE letter from Ounalaska states that the whaling steamer Belvedere was caught in the ice and after being somewhat crushed was released from her perilous position and taken to g Ounalaska for repairs. 8 THE Canadian government has apd plied to this of Alfred country Morsett, for the extradi- time tion at one a TO broker in Quebec, but who committed st forgery and fled to the United States. in The Dominion government was the loser on his transactions. of LARGE consignments of the best n wrapper tobacco have been seized at nQuebec, after passing through the Philis adelpia custom house as fillers. The losses at the last place alone are said to 1. reach a million and a half dollars. is IN the United States court at Atlanta, Ga., the attorney for the Central Trust a. Co. filed a bill to foreclose a $14,500,000 mortgage on the Georgia Pacific raile road. This is a part of the reorganization scheme. STHE passengers on the Guion line on steamer Arizona. from New York, reon port that that vessel had a very narrow le. escape from a Red Star line steamer during a thick fog, The latter steamer p crossed the Arizona's bows not fifty ns yards distant. eOWING to the extreme heat the pope has suspended for a time the granting of audiences. p. st THE State national bank, of Knoxan ville, Tenn., has assigned. ru THE closing of two banks at Milwaukee on the 22d caused runs upon those remaining open. or LOUIS PETERSON and John Dunn, he while a ispainters, watching pickpockets procession at Milwaukee, saw two of the crowd he to rob a woman. attempt working and frustrated One of their the thieves disemboweled Peterson, and he the other struck Dunn over the head ill with a blunt instrument. Peterson he died. The thieves escaped. On THE Kentucky national bank at exLouisville has assigned. SIAM'S reply to France was considD., ered unsatisfactory, and it was conen sidered on the 24th that hostilities at were inevitable. has FIRES were devastating the forests ty, and burning the grass near Fort Me Kinney and Buffalo, Wyo. Coof a prehistoric city have rge been found a party THE ruins by of mine prospect ain ors in the Colorado desert. len pension case a ty, III., in favor govern Springfield, THE Newby of the ended on, ment. Had Newby won he would have ret received $22,000 arrears, etc. The gov niternment claimed that Newby died dur ing ing the war and that the elaimant wa an impostor named Benton. in the cause silve A MASS meeting A of series held in San Francisco. o erwere adopted th lar i resolutions was in silver" which ked "secret demonetization of cut. 1878 is denounced as "a crime which has can never be expiated, except in it to complete rehabilitation." A DISPATCH from Rio Grande do Sul ison via Montevideo, says: An importan battle with the insurgents at Jaguara inst has resulted in the complete overthro ,000 troops. con conof governmen of of manding the government general the The y troops. Soares, was killed.

12. July 29, 1893 The Sun New York, NY

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Louisville Adopts New York's Clearing House Certificate Plan. LOUISVILLE. July 28.-The Louisville bankers, at a meeting of the Clearing House Association to-day. decided that the exigencies of the situation make it necessary to adopt the New York plan of issuing certificates. A committee will pass upon the collateral of banks needing help. and if found good will issue the checks. It is now certain that two of the five suspended baks-the Merchants' National and the City National-are in shape to resume in a few days. The Fourth National hopes to do the same, but the Kentucky National and Deposit banks will almost certainly go into liquidation.

13. July 29, 1893 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, July 29, 1893

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THE SOUTH. STOCKHOLDERS of the Galveston & Western railway voted. to increase the capital stock to $2,000,000, and to build east to the Sabine river, north to Houston and west to San Antonioriver. A THIRD furnace of the Maryland Steel Co., at Sparrow's Point, Md., was banked. throwing all the furnaces which had been in operation out of blast. About 300 iaborers are out of work from the shutdown. THERE was no truth in the report that Virginia state guards had been killed in a battle with outlaws. TEXAS railroad passenger earnings for the quarter ended June 3 last show a slight increase over last year. THE report of Internal Revenue Insbertor Hart is that sugar planters will lose nearly $700,000 by the Rescue crevasse in Iberville parish, La. IN the United States court at Atlanta, Ga., the attorney for the Central Trust Co. filed a bill to foreclose a $14,500,000 mortgage on the Georgia Pacific railroad. This is a part of the reorganization scheme. THE Kentucky national bank at Louisville has assigned. THE State national bank, of Knoxville, Tenn., has assigned. THE City national bank of Louisville Ky., has closed its doors. TEXAS has suffered from rain. sand and wind storms. In McLennan county D. F. Nunnelly was killed by lightning. SAMUEL SPENCER and F. W. Huidekoper have been appointed receivers of the Georgia Central. TEN coach loads of negroes, numbering 500, many of them armed, have been started from Alabama for Pittsburg, Kan., to replace the striking miners there. REV. THOMAS FRANK GAILOR has been consecrated as assistant Episcopal bishop of Tennessee. THREE more bank failures occurred at Louisville, Ky., on the 25th. ONE cowboy and a number of cattle were killed by soldiers during a battle on the north fork of the Arkansas river. THE residence of E. E. Chase, formerly of St. Louis, at Fort Worth, Tex., was destroyed by fire. Loss, $115,000.

14. July 29, 1893 The Frankfort Roundabout Frankfort, KY

Article from The Frankfort Roundabout, July 29, 1893

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THE BANK CRISIS. Without Cause Depositors Make a Run on Louisville Banks and They Were Obliged to Suspend. The suspension of the Kentucky National, Louisville City National, Merchants National, Louisville Deposit and Fourth National Banks of Louisville, on Monday and Tuesday of this week, threatened for a while to shake confidence in all the banks of that city as well as other cities in the State. The statements of the condition of these banks, both before and after the suspension, showed there was no occasion at all for alarm among the depositors. They made a heavy run on the first mentioned bank, which, closing its doors. caused the run to be made on the other banks and a like necessity to suspend. No bank would want the deposits if it would be required to keep the entire amount constantly on hand to meet any emergency, and the mere suspension of payment of the banks in Louisville was not in the least the result of bad management or weak condition of the banks but simply an inability to realize on the bank's collateral. Fortunately the people realized this in time to restore confidence by Wednesday and to spare the rest of the banks the necessity to close their doors to the public. In this city the people demonstrated their confidence in their moneyed institutions and made no effort to disturb the regular channel of business by withdrawing their deposits or Tefusing to receive checks. State Treasurer Hale, as a safe-guard for the State's revenue. for which he is responsible on his bond, declined to accept any thing but currency in payment of the money due the State, but that had no effect in the business community. It could easily be perceived that the whole trouble had no foundation in fact, and that it only required a few days for the restoration of confidence and general resumption of trade when the people would look back at this week's crisis and wonder why they were alarmed without an adequate cause.

15. August 2, 1893 The Indiana State Sentinel Indianapolis, IN

Article from The Indiana State Sentinel, August 2, 1893

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THREE FAIL AT LOUISVILLE. Merchants' National, Louisville Deposit and Fourth National. LOUISVILLE, July 25.-This will prove a memorable day in the financial history of Louisville. At 10 o'clock this morning the Merchants' national bank posted a notice of suspension, and half an hour later the failure of the Louisville deposit bank was announced. By this time half a dozen banks in the city were being run by depositors, mostly small ones. They all stood the pressure except one, the Fourth national, which closed its doors in the Board of Trade building at 10 o'clock. At that hour the excitement was running high, and every one of a half dozen banks was crowded with depositors, who were in line awaiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky national bank Saturday. Then came the Louisville city national Monday, after the intervention of a Sunday holiday, and the Merchants' national, the Louisville deposit and the Fourth national today The failure of the Merchants' national was caused by the withdrawals of country banks and country depositors. The Louisville deposit was the only bank in the city not a member of the Clearing house association and in its time of need none of the other banks would give it any assistance whatever The suspension of the Fourth national was a result of the panic. There has been a steady pulling out of deposits. This changed into a run after the suspension of the Kentucky national last Saturday, and the run continued Monday and Tuesday and until all the funds were exhausted today. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockholders will not be more than 60 per cent. in either case. The Merchants' national bank is capitalized at $500,000, and J. H. Lindenberger is president. The Fourth national has a capital of $300,000, a surplus of $35,000. George Davis is president. The Louisville deposit bank has a capital of $300,000 and a surplus of $16,128. Moses Schwartz is president. The Deposit bank was not a member of the clearing house. It was organized just before the Baring failure, and naturally its career has been a stormy one. It determined to have business; went for it, and in a little while it secured a handsome deposit. Cashier Ohligschlager said to a Post reporter that the bank was abundantly able to meet its liabilities if it could realize on its assets, and he assures the depositors that they will lose nothing. The Banks Solvent. President Davis of the Fourth national was seen just after the closing of the doors. "All the information we have to give out at this time." he said, "is that no one will lose a mill by our suspension." President Lindenberger of the Merchants' national said: "The bank is abundantly solvent, and there is no sort of doubt that the depositors will be paid in full. It is my judgment, from a calm view of the prospect as now presented. that the stockholders will receive the face value of their shares. Had the bank gone on without having to close the realization would have been greater, but even with the disadvantages under which we are now laboring I do not think they will lose anything." The Merchants' national bank of Louisville was organized as a national bank on July 5, 1874, succeeding the Merchants' bank of Kentucky, which had been operating under a charter from the state since Sept. 1, 1860. The Fourth national was organized in 1883. Shortly after the assignment of his bank. President Moses Schwartz filed an individual assignment in the county clerk's office to the same assignee, the Germania safety vault and trust company. All his personal assets are given over into the hands of the assignee. The Sweetwood distillery company also made an assignment by its president, Moses Schwartz, at 12:45 o'clock this afternoon, to the Germania safety vault and trust company. Mr. Schwartz could not say what the liabilities amounted to, and felt too bad to talk about the matter. Jake Schwartz, the liquor dealer, announced today that he had suspended. He owes $70,000, three-fourths of which he says is secured, and with time he claims he can pay off the rest and have something for himself. Lately he did business at Third and Main. He is a brother of Moses Schwartz, president of the assigned Louisville deposit bank. At 1:15 o'clock this afternoon a small run was caused on the German bank by an old colored woman, who had $50 deposited there. She did not have the certificate with her and demanded that she be given her money without identification. The noise she made attracted attention, and in a few moments a hundred people were about. The bank officials sent for Police Lieut. Jacobs and had a strong box, said to contain $300,000, brought over from the Louisville trust company. The money was spread out on the counter and the cashier announced that he was ready to pay off any and all

16. August 5, 1893 The Weekly Thibodaux Sentinel and Journal of the 8th Senatorial District Thibodaux, LA

Article from The Weekly Thibodaux Sentinel and Journal of the 8th Senatorial District, August 5, 1893

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moins dans tout l'Onest. Ainsi parmi les dernière faillites il faut citer : celle de la première banque nationale de la petite ville d'Anthony, Kansas, dont le passif ne s'élève, affirme-t-on, qu'à $50.000, celle de la Kentucky National Bank, de Louisville, qui cause une très grande consternation, et de la State National Bank, de Knoxville, Tennessee. La Kentucky National Bank, était une des plus importantes et passait pour une des plus solides de Louisville. Elle avait été fondée avec un capital d'un million de dollars. Mais ce n'est pas tout. Une véritable panique sévit à la Milwaukee National Bank et une importante caisse d'épargne, connue sous le nom de South Side Savings, ont suspendu leurs payements. Les portes de la plupart des autres banques et caisses d'épargne de la ville ont été assiégées pendant presque toute une journée par des gens affolés et désireux d'en retirer le plus tôt possible l'argent qu'ils y avaient en dépôt. La crise commerciale n'est pas moins grave. Le nombre des faillites commerciales dans tous les Etats-Unis s'est élevé, pendant la semaine, au chiffre extraordinaine de 467.

17. August 9, 1893 Barbour County Index Medicine Lodge, KS

Article from Barbour County Index, August 9, 1893

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POINTS FOR THE PEOPLE. -Sects and creeds cut no figure in the battle for human rights. One Father McGlynn is worth more to humanity's cause than a regiment of Henry Ward Beechers. -Which would you prefer to have, a clearing house certificate or a green back issued by the government? Yet the latter has been branded by the national bankers as fiat money-Tacoma Sun. -If silver has no claim as a money metal because it is a product of the earth, gold loses its claim on the same ground. All the people ask is that the two metals shall be treated alike by our government.-Journal of Agriculture. -England had rather rule this country financially and commercially, by manipulating our legislation, than to conquer it by the arts of war. It serves her purpose as well, and is more healthful and less expensive.-Journal of Agriculture. -The present panic was deliberately planned and executed to bluff congress into the demonetization of silver, the purpose being to enhance the value of the securities held by the panic makers, by making them payable in gold val ues.-Journal of Agriculture. -Franklin was without doubt the all round wisest man this continenti ever produced, and he declared at that early day in favor of paper money, pure legal tenders, after a trial of the principle in the colony of Pennsylvanie from 1722 to 1762-National Watch man. 'Whatever a government agrees to receive in payment of the public dues, as a medium of circulation, is money, no matter what its form may be; treasury notes, drafts, etc. Such bills or paper, issued under authority of the United States, are money. ."-Henry Clay in the Senate, 1887. -The populist cause is sure to triumph. There is a moral wave sweeping over the country and by that wave one or both of the old parties will be lashed to pieces. The new issues are coming to the front and they will never down till they are settled and settled right.-Alliance Independent -In 1892 the production of silver was 58,000,000 ounces, of which the government bought 54,129,727 ounces, putting into circulation therefor $47,394,291 in treasury notes. Free coinage of the American product would have put into circulation $19,595,609 more money, after deducting silver used in the arts. This is $88,974,927 less than the gold lost by export during the year. -When we get a postal note or P. O. money order we know to an absolute certainty that it is as good as the cash itself, but when .we get a bank draft we look to see what bank drew the draft and upon what bank it was drawn and then look at the list of fallures. The Nebraska people's party boys were right when they took the lead for government banks.-Missouri World. -Since January 1 nearly two hun dred national banks have closed their doors, against less than fifty during the same period last year. Of the fall. ures this year five have been United States depositories, as follows: The First national bank, of Little Rook, Ark.: the Gate City national bank, of Atlanta, Ga.; the People's national bank, of Denver, Col.: the German national bank, of Denver, Col., and the Kentucky national bank, of Louisville. -Chicago has a new illustrated weekly devoted to the free coinage of silver. Its energies had better be expended in explaining the money function and the uselessness and waste of all the labor in digging and dying for some yellow and white minerals. The same labor expended in creating food, clothing, shelter, instruction and amusement would happify untold millions. The people can create all the money they want and print it on paper that didn't have to be mined at such lbor.-Coming Nation. -The industrial millions demand justice. Through special privileges and class legislation they have been defrauded. Throughallowing politicians and interested newspapers to do their thinking, they have permitted themselves to be well nigh enslaved. Their hope now lies in independent thinking. and in political unity of action. The first thing to be done is to abolish all class legislation, and to demand the government ownership of natural "monopolies,' as well as an expansion of the volume of currency, which will tend to relieve congested business conditions, and enable the slaves of the gold barons at least to live after paying their interest.-B. O. Flower. d -Superintendent-"You want a job driving one of our street sprinklers, eh? Ever had any experience?" Applicant-"No, but-" 'But what?" "Everybody tells me I'm so blind I can't see a street crossing ten feet away and-" "That'll do. Come 'round in the morning and take out the biggest sprinkler we own." - Buffalo Courier -Five-year-old Frances had been spending an afternoon with a little friend. When she returned home she found another little friend there who hadcometovisither "Etheldoesn'tlove you," said Frances to the second little to one the calling girl, referring upon. 'Why the not?" she asked had been visitor, somewhat surprised. "Tause she doesn't know you,' explained

18. August 27, 1893 The Morning News Savannah, GA

Article from The Morning News, August 27, 1893

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A Louisville Bank Resumes. Louisville, Ky., Aug. 26.-The Fourth National Bank, one of the five Louisville banks to suspend payment during the recent panic, resumed business to-day. THREE OTHERS TO FOLLOW. The City National and the Merchant National will also resume within a few days. An informal meeting of the stockholders of the kentucky National Bank will be held to discuss the matter of re-opening that institution.

19. September 27, 1893 Evening Star Washington, DC

Article from Evening Star, September 27, 1893

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Banks to Resume. The controller of the currency has authorized the Kentucky National Bank of Louisville, Ky., to resume business October 2 and the First National Bank of White Sulphur Springs, Mont., to resume October 15. These banks recently suspended.

20. October 3, 1893 Evening Star Washington, DC

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Banks Reopened. The following national banks, which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency and their capital stock being unimpaired, have been permitted to reopen their doors for business: The Kentucky National Bank of Louisville, Ky.; the Farmers' National Bank of Findlay, Ohio; the Union National Bank of Rochester, Minn.

21. October 3, 1893 The Madison Daily Leader Madison, SD

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Permission to Resume. WASHINGTON, Oct. 8.-The following national banks which recently suspended payment, have been permitted to reopen for business: The Kentucky National bank of Louisville, the Farmers' National bank of Findlay, O., and the Minn. Union National bank of Rochester,

22. October 3, 1893 The Sun New York, NY

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National Banks Reopen. WASHINGTON. Oct. 2.-The following national banks, which recently suspended payment. have been permitted to reopen for business: The Kentucky National Bank of Louisville, Ky.: the Farmers' National Bank of Findlay, O., and the Union National Bank of Rochester. Minn.

23. October 3, 1893 The Providence News Providence, RI

Article from The Providence News, October 3, 1893

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Banks to Resume. WASHINGTON, Oct. 8. - The following national banks which recently suspended payment have been permitted to open for business: The Kentucky National bank of Louisville, Ky.; the Farmers' National bank of Findlay, O., and the Union National bank of Rochester, Minn.

24. October 7, 1893 Chicago Eagle Chicago, IL

Article from Chicago Eagle, October 7, 1893

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National Banks to Reopen. The following national banks which recently suspended payment have been nermitted to reopen for business: The Kintucky National Bank of Louisville, Ky.; the Farmers' National Bank of Findiay, Ohio: and the Union National Bank of Rochester, Minn.