Lake County Bank (Painesville, OH)

Episode Information

Episode UID
7323217691122
Episode Type
Run โ†’ Suspension โ†’ Unsure
Bank Type
trust
Bank ID
732321769 hash
Start Date
June 14, 1893
Location
Painesville, Ohio (41.724, -81.246)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
11d15c370a0d8b8c

Response Measures

None

Description

The bank was operated by Aaron Wilcox & Co., suggesting it was a private banking firm. While articles confirm it was solvent after the suspension, they do not explicitly state whether it reopened or remained closed for liquidation.

Events (3)

1. June 14, 1893 Run
Cause
Macro News
Cause Details
Stringency in the money market during the Panic of 1893.
Newspaper Excerpt
This bank has suspended temporarily, being unable to meet the run on it at present
Source
newspapers
2. June 14, 1893 Suspension
Cause
Macro News
Cause Details
Unable to meet a run due to the general stringency in the money market.
Newspaper Excerpt
This morning the Lake County Bank, of Aaron Wilcox & Co., posted a notice on the door as follows: 'This bank has suspended temporarily'
Source
newspapers
3. June 18, 1893 Other
Newspaper Excerpt
The Lake County Bank at Painesville, Ohio, which was forced to suspend last week, because of a run, is solvent. The statement shows assets of $450,000 and liabilities of $350,000.
Source
newspapers

Newspaper Articles (14)

Article from The Times, June 15, 1893

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Article Text

RUN ON A BANK. The Depositors Showing Great Anxiety Over Their Savings. NEW YORK, June 14.-A run started on the Irvings Savings Institution this morning almost as soon as the doors of the place, at No. 96 Warren street, were opened. The door of the bank opened at half past 9 o'clock, but at that time there were only a few depositors in line. As the minutes went by, however, and the hands of the clock pointed to 10 o'clock, the crowd began to gather, and when the paying teller opened his window, there were many depositors in line. The line kept constantly increasing, however, and In a very short time the little 25x25 foot. room in which the Savings Bank does its business was completely filled with depositors, whose faces showed their great anxiety over their savings. In twenty minutes the paying teller had paid out $7,500. Treasurer G. E. Latimer said the bank had in hand a million dollars. and could get that much more, if necessary, at a moment's notice. Temporarily Suspended. PAINESVILLE, O., June 14.-This morning the Lake County Bank, of Aaron Wilcox & Co., posted a notice on the door as follows: "This bank has suspended temporarily, being unable to meet the run on it at present. owing to the stringency in the money market. All depositors will be paid in full." Nail Company Assigns. CLEVELAND, O., June 14.-The Baackes Wise Nall Company, one of the largest concerns of the kind in the country, has made an assignment. Dry Goods House in Trouble. NEW YORK, June 14.-It was reported in the dry goods trade to-day that the big Chicago dry goods house known as the James H. Walker Company, which does both wholesale and retail business, had been forced by the stringency in the money market to ask the indulgence of some of its largest creditors in this city as well as in Chicago.


Article from The Seattle Post-Intelligencer, June 15, 1893

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BUSINESS TROUBLES. The Exchange Banking Company, of Western Ohio, with s capital of $50,000, closed Wednesday. In consequence of a run. the Lake County Bank, of Aaron Wileox & Co., of Painesville, a, suspended June 14. with beavy liabilities. It was considered a sound institution. The Citizens' bank, of Fairmount, Ind., one pended on June 14 owing to the stringency in the money market Its capital stock is $50,000, assets $191,000, and liabilities $130,000 to $150,000 Ernest E. Kipling, an importer of precious stones in New York, with offices at Providence, R I. and Paris, France, failed on June 14. with liabilities of about $150,000 and nominal assets exceeding that amount The state bank examiner declares that Mana. ger Hurlburt, who is now missing. conducted the failed bank of Burr Oak, Kan, in such a manner as to send him to the penitentiary. The deposits are $45,000 and the assets worthless A run started on the Irving Savings Institution, of New York city. on June 14, in consequence of the alleged defalcations of $70,800 discovered, but all demands were promptly met, and Treasurer Latimer said the bank had $1,000.000 on hand and more withia reach when wanted. In twenty minutes after opening $7,000 had been withdrawn by a host of clamoring depositors. Baacke's Wire Nail Works at Cleveland, O., failed on June 14, with $300,000 assets against $225,000 liabilities. It was the largest institus. tion of the kind in the country, and Beacke, the founder, is a pioneer in the wire nail business. Nailer & Co., of New York and Philadelphia, the principal creditors, of whom the company bought millions of dollars' worth of material and always paid promptly. refused to grant an extension, and this forced the failure.


Article from The Record-Union, June 19, 1893

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The Bank is Solvent. CLEVELAND (Ohio), June 18.-The Lake County Bank at Painesville, Ohio, which was forced to suspend last week, because of a run, is solvent. The statement shows assets of $450,000 and liabilities of $350,000.


Article from The Morning Call, June 19, 1893

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RESUMING BUSINESS. On the Whole the Worst of the Bank Trouble Is Over. INDIANAPOLIS, Ind., June 18. -The Capitol National Bank will reopen its doors to-morrow morning with $50,000 more cash on hand than is required by Comptroller Eckels. It is not thought that there will be any extraordinary rush to draw out the deposits which have been tied up. CLEVELAND, Ohio, June 18.-The Lake County Bank at Painesville, Ohio, which was forced to suspend last week because of a run is solvent. The statement shows assets amounting to $450,000 and liabilities of $350,000. ARMOUR, S. Dak., June 18.-The Douglas County Bank. located here, has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount. CHICAGO, June 18. - The report of the assignment of Hermann, Schaffner & Co., the insolvent bankers, shows liabilities of $2,350,011, with assets estimated as good of $1,894,905 and total sssets of $2,312,818.


Article from The Providence News, June 19, 1893

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Painesville Bank All Right. CLEVELAND, June 19.-The Lake county bank at Painesville, which was forced to suspend last week because of a run, is solvent. A statement shows the assets were $450,000 an be liabilities $350,000.


Article from St. Paul Daily Globe, June 19, 1893

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It Was Solvent. CLEVELAND, 0., June 18.-The Lake County bank, at Painesville, O., which was forced to suspend last week because of a run, was solvent. A statement shows that the assets were $450,000; liabilities, $350,000.


Article from The Madison Daily Leader, June 20, 1893

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Article Text

The Bank Was Solvent. CLEVELAND, O., June 20.-The Lake county bank at Painesville, O., which was forced to suspend last week because of a run, was solvent. A statement shows that the assets were $450,000; liabilities, $350,000.


Article from The Star, June 21, 1893

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Article Text

LATER NEWS WAIFS. FINANCIAL AND COMMERCIAL The Lake county bank at Painesville, O., which was forced to suspend last week because of a run, is solvent. A statement shows that the assets were $450,000 and the liabilities $350,000. INDIANAPOLIS. - The Capital National Bank has reopened its doors with $50,000 more capital on hand than required by Comptroller Eckels. Norman S. Byram exTreasurer of State. will be president, M. B. Wilson, formerly president, will be vice president. and Charles J. Doherty will remain as cashier.


Article from Grant County Herald, June 22, 1893

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GIVEN A CHANCE. Coroner Patterson decided not to issue warrants for the commitment of Col. Ainsworth, Dant, Covert and Sasse until this morning in order to give them 9.7 opportunity of obtaining bail. Col. Ainsworth has already secured a bondsman. Contractor Dant is very ill at his residence. BANKS FAIL. Several Financial Institutions in Various Places Forced to Suspend. ALBANY, Ore., June 20.-The Linn county bank of this city has closed its doors owing to the stringency in the money market. J. L. Cowan, president of the bank, says the deposits amount to about $50,000, and that the assets will exceed the liabilities by about $80,000. The Linn county bank at Lebanon also closed its doors at noon. The Bonk of Oregon, this city, also closed its doors. WILMINGTON, N. C., June 20.-The Bank of New Hanover has been forced to make an assignment to Junius Davis in the interest of all concerned. The assets are estimated at $1,250,000; the liabilities, $800,000. CHATTANOOGA, Tenn., June 20.-The City savings bank at a late hour last night made an assignment. It is claimed the depositors will be paid in full. TOPEKA, Kan., June 20.-The state bank commissioner has ordered the State bank of Plainville closed. CLEVELAND, O., June 20.-The Lake County bank at Painesville, O., which was forced to suspend last week because of a run. was solvent. A statement shows that the assets were $450,000 and the liabilities $350,000.


Article from The Princeton Union, June 22, 1893

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FORCED TO SUSPEND. Cleveland, Ohio, Jane 20.-The - Lake County bank at Painesville, Ohio, which was forced to suspend last week because of a run was solvent. A statement shows that the assets were ,$450,000; liabilities, $350,000.


Article from The Middleburgh Post, June 22, 1893

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LATER NEWS WAIFS. FINANCIAL AND COMMERCIAL The Lake county bank at Painesville O., which was forced to suspend last week because of a run, is solvent. A statement shows that the assets were $450,000 and the liabilities $350,000. INDIANAPOLIS. - The Capital National Bank has reopened its doors with $5,000 more capital on hand than required by Comptroller Eckels Norman S. Byram ex. Treasurer of State, will be president, N B. Wilson, formerly president, will be vice president. and Charles J. Doherty will remain as cashier.


Article from The Mitchell Capital, June 23, 1893

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The Bank Was Solvent. CLEVELAND, O., June 20.-The Lake county bank at Painesville, O., which was forced to suspend last week because of a run, was solvent. A statement shows that the assets were $450,000; liabilities, $350,000. Mysterious Murder. TOPEKA, Kan., June 21.-The mutilated body a well dressed man was found in a creek bottom half a mile west of Marion. A surveyor's tracing chain was tied about his neck. The back of his head was badly battered and his features were beaten out of recognition. His clothes were nearly new and tailor made, but the tailor's mark usually found on the neck of the coat had been carefully removed. Nothing by which he could be identified was found in the pockets. The indications were that the body had been lifeless for a week.


Article from The Kinsley Graphic, June 23, 1893

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ulation away from that vicinity. THE steamer Falcon has sailed from St. Johns, Newfoundland, for Philadelphia to take the Greenland. She is and Peary fully expedition equipped this to newly fitted especially for voyage. a cure of began graduate SIMON MAHONEY, Niagara Falls, gold N.Y., liquor drinking again the other day and was soon mad. His brothers tried to subdue him and he shot one and beat out the brains of the other. SAMUEL CRAWFORD and ex-Councilthan Charles Gottfreid of Lima, O., both leading business men, have disappeared. NATURAL gas has been struck at the St. Louis dressed beef plant in very considerable quantity. THE Northern Pacific railroad has met the deep cut in rates announced by the Great Northern, commencing June 18. RAIN spoilt the celebration of Bunker Hill day at Boston. THE International Typographical union has published the facts showing gross boodling and mismanagement of the Printers' home at Colorado Springs. CHIEF JUSTICE FULLER refused an injunction to restrain the world's fair from opening on Sunday. This virtually settled the question. It did not, to however, attract any large crowd the world's fair as expected Sunday. WHILE bombarding the heavens for rain at Minneapolis, Kan., a premature discharge of the cannon caused the instant death of S.F. .Redn nd and seriously wounded Rufus Preston and another. Mr. Redmond was captain of Company G., Fourth regiment, K. N. G. AT Rolla, N. D., a cowboy robbed the bank and shot the cashier, after which he was run down and killed by the indignant citizens, FOUR Choctaw Indians who participated in the recent trouble in the nation have been convicted of murder and sentenced to be shot. FIVE trainmen were killed by a collision of two freights at Cameron, W. Va. JUDGE WILLIAMS, of the United States circuit court, has decided that the Leavenworth Coal Co. must pay royalties to the government. The amount is about $200,000. THE evidence brought out at the Ford theater inquest showed that both Contractor Dant and the government were much to blame for the manner in which, the work was done THE United States judge at Seattle, Wash., made an important ruling to the effect that the government has no longer control over land which has been allotted to Indians. A DISASTROUS fire visited the town of Dundoff, Pa., and wiped out the best portion of it. AT Edgerton, Ind., a lumber town, whisky caused a general fight in which two persons were killed. TERRIBLE forest fires have been ragon the Mesaba range in Minnesota for ing three weeks, and several towns have been completely wiped outSTREET car lines in Minneapolis and the Paul were tied up temporarily, men St. refusing to sign a new contract, which was finally withdrawn. THE Douglas county bank at Armour liabiliS. D., has closed its doors. The ties are estimated at $33,000 and the assets at a like amount. THE town of Myers' Falls. Wash., was loss completely wiped out (by fire. The estimated at $10,000; insurance none. inMyers' is Falls contained about fifty habtiants. THE Lake County bank at Painesville, which was forced to suspend because O., run, was solvent. A statement and of shows a that the assets were $450,000 liabilities $350,000. THREE young men were drowned in Cheguamegon bay, near Washburn, which while sailing in a sailboat, Jack capsized. Wis., They were Lyle Kellog, Ford and O. Gay. trial of Armenians, accused of THE concerned in rioting at Cresarea been being Marsovan last spring, has just of the and concluded at Angora. Seventeen Thoumaian including Prof. to prisoners, Prof. Kayana, were condeinned and death; six, including the sentenced Protestant to at Gimeric, were eighteen pastor years' imprisonment; for fifteen sentenced to imprisonment were terms ranging from seven to ten years and fifteen were committed. ADDITIONAL DISPATCHE& NUMBER of United States customs A in the state of Washington service officials been dismissed from: the parties have the charge of collusion ntothe-country. with who on smuggled Chinese of Bo STRIKING miners in a district but were attacked the governor, loss of driven hemia off by the police with life. THE Suburban handicap at Coney Isl-


Article from Baxter Springs News, June 24, 1893

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THE WEST. THE total paid admissions to the world's fair, including June 14, were 2,828,759. STREET car lines in Minneapolis and the Paul were tied up temporarily, men St. refusing to sign a new contract, which was finally withdrawn. THE International Typographical unhas published the facts showing of ion boodling and mismanagement gross the Printers' home at Colorado Springs. for WHILE bombarding the heavens rain at Minneapolis, Kan., a premature indischarge of the cannon caused the serideath of S. F. Redmond and and stant ously wounded Rufus Preston another. Mr. Redmond was captain G. of Company G. Fourth regiment, K. N. the AT Rolla, N. D., a cowboy robbed which bank and shot the cashier, after he was run down and killed by the indignant citizens. FOUR Choctaw Indians who partici- nation in the recent trouble in the pated have been convicted of murder and sentenced to be shot. JUDGE WILLIAMS, of the United States Leavcircuit court, as decided that the to enworth Coal Co. must pay royalties about the government. The amount is $200,000. THE United States judge at Seattle, to Wash.. made an important ruling the effect that the government has has no longer control over land which been allotted to Indians. AT Edgerton, Ind., a lumber town, whisky caused a general fight in which two persons were killed. TERRIBLE forest fires have been raging on the Mesaba range in Minnesota for three weeks, and several towns have been completely wiped out. THE Lake County bank at Painesville, O., which was forced to suspend because of a run, was solvent. A statement and shows that the assets were $450,000 liabilities $850,000. THREE young men were drowned in Chegnamegon bay. near Washburn. Wis., while sailing in a sailboat. which capsized. They were Lyle Kellog, Jack Ford and O. Gay. THE Douglas county bankat Armour, S. D., has closed its doors. The liabilities are estimated at $33,000 and the assets at a like amount. THE town of Myers' Falls, Wash., was loss completely wiped out by fire. The is estimated at $10,000; insurance none. Myers' Falls contained about fifty inhabitants. JOHN CONFORS, in the employ of the Wabash Railroad Co. at Springfield, III., was killed by an engine at that place. THE Cudahy Packing Co., at South Omaha has issued a circular proposing to receive deposits from employes and 30 pay interest on amounts remaining days or more. THERE died at Wilber, Neb., a few days aman named Castner Hauway, whose trial for treason in connection with the enforcement of the fugitive slave law of ante-bellum days was a forerunner of the late war. FAST trains on the Missouri. Kansas & Texas collided at Caddo. I. T., and a Wagner car conductor and porter were injured. TERRIBLE forest fires were raging in northern Wisconsin and much destruction of property was reported. THE Western Baseball league gave up the ghost. THE will of John Crerar, the millionaire, has been sustained at Chicago. ENGINEERS on the Michigan division of the Big Four threaten to strike for standard pay. THE California building at the world's fair, one of the finest state buildings, was opened to the public on the 19th. JUDGE CLARK, of the supreme bench of Oklahoma, declined to resign his seat to Judge Dale, the recent appointee. TROUBLE was reported at the Cheyenne agency over the attempted arrest of an Indian. It was said five Indians had been killed. THE Colorado supreme court has decided that Maneater Packer, who killed in 1874 and ate part five men cumulative of their senbodies, must serve the tences for each murder. A WOMAN imposed fast signaled a passenger train near Rantoul, Ill., on the Illinois Central, and prevented a wreck, a bridge just ahead having been burned. THE SOUTH. JOSEPH JEFFERSON, the actor, was suddenly taken ill while on his way to