788. Randall Banking Company (Eureka, CA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
April 1, 1897*
Location
Eureka, California (40.793, -124.155)

Metadata

Model
gpt-5-mini
Short Digest
ba0212a6

Response Measures

Full suspension, Books examined

Other: Bank went into liquidation; indictments for embezzlement follow.

Description

Multiple April 1897 articles report a run precipitated by discovery/recording of a $7,000 mortgage and the departure of cashier J.S. Murray; bank closed/suspended April 17, 1897, the Bank Commissioner to take charge, and the institution later went into liquidation. Cause is bank-specific adverse information (questionable mortgage/possible embezzlement).

Events (3)
1. April 1, 1897* Receivership
Newspaper Excerpt
The Randall Company's Bank at Eureka Suspends. ... The Bank Commissioner will take charge, when a statement of the assets and liabilities will be made public. The Randall Banking Company at Eureka went into liquidation in April, 1897, owing its depositors over $200,000 (later report).
Source
newspapers
2. April 17, 1897 Run
Cause
Bank Specific Adverse Info
Cause Details
Recording of a $7,000 mortgage involving the cashier and president and the cashier's sudden departure heightened suspicion and led to large withdrawals.
Measures
Posted notice that depositors would be paid in full; directors sought funds; officials announced Bank Commissioner would take charge.
Newspaper Excerpt
A run was precipitated by the recording of a $7,000 mortgage which President Randall required the late cashier, J. S. Murray, to give him
Source
newspapers
3. April 17, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure/suspension followed the heavy withdrawals precipitated by the mortgage recording and cashier's departure; directors cited difficulty in making collections during business depression as reason for closing temporarily/indefinitely.
Newspaper Excerpt
The Randall Banking Company closed its doors today and posted a notice that depositors would be paid in full. The Bank Commissioner will take charge
Source
newspapers

Newspaper Articles (12)
1. April 18, 1897 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 18, 1897

Click image to open full size in new tab

Article Text

California Bank Closed. EUREKA, Cal., April 7.-The Randall Banking Company closed its doors to-day and posted a notice that its depositors would be paid in full. A run was precipitated by the recording of a $7,000 mortgage which President Randall required the late cashier, J. S. Murry, to give him to save Randall and the banking company from loss. Murray left here about three weeks ago and is supposed to be in Mexico. The Randall Banking Company organized in 1892, with an authorized capital of $200.000 and a paid-up capital of $57,300. The bank's attorney states that the bank holds ample securities, and that depositors will be paid in full.

2. April 18, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, April 18, 1897

Click image to open full size in new tab

Article Text

Eureka Bank Closed. EUREKA, Cal., April 17.-The Randall Banking Company closed its doors today, and posted a notice that depositors would be paid in full. A run was precipitated by the recording of a $7,000 mortgage, which President A. W. Randall required the late cashier, J. S. Murray, to give him to save Randall and the banking company from loss.

3. April 18, 1897 The Herald Los Angeles, CA
Article from The Herald, April 18, 1897

Click image to open full size in new tab

Article Text

Broke the Bank EUREKA, April 17.-The Randall Banking company closed its doors today and posted a notice that depositors would be paid in full. A run was precipitated by: the recording of a seventhousand dollars' mortgage which President A. W. Randall required the late cashier, J. S. Murray, to give him to save Randall and the banking company from loss. Murray left town a bout three weeks ago and is supposed to be in Mexico. The Randall Banking company organized with an authorized capital stock of $200,000, paid up $57,300. The bank's attorney states that the bank holds ample securities, and that depositors will be paid in full.

4. April 18, 1897 The Record-Union Sacramento, CA
Article from The Record-Union, April 18, 1897

Click image to open full size in new tab

Article Text

BANK FAILURE AT EUREKA. A Run Causing the Company to Close Its Doors. EUREKA, April 17.-The Randall Banking Company closed its doors today and posted a notice that depositors would be paid in full. A run was precipitated by the recording of a $7,000 mortgage which President A. W. Randall required the late Cashier J. S. Murray to give him to save Randall and the banking company from loss. Murray left town about three weeks ago, and is supposed to be in Mexico. The Randall Banking Company organized in 1892, with an authorized capital of $200,000, paid up $57,300. The bank's attorney states that the bank holds ample securities, and that depositors will be paid in full.

5. April 18, 1897 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, April 18, 1897

Click image to open full size in new tab

Article Text

The Randall Company's Bank at Eureka Suspends. Collapse Hastened by Recent Large Withdrawals of Funds. Other Financial Institutions in the Northern Town Not Affected. EUREKA, CAL., April 17.-The Randall Banking Company closed the doors of its bank here at 11 o'clock this morning. It had been rumored in financial circles for several days past that the institution was in a bad condition financially. The recent departure of Cashier J. S. Murray and the election of his successor tended to increase the suspicion and in consequence large depositors had been gradually withdrawing funds. The extent of the failure is not known at present. The bank officials have posted a notice that depositors would be paid in full. All sorts of rumors are going the rounds and the truth cannot be reached to-day. The Bank Commissioner will take charge, when a statement of the assets and liabilities will be made public. The bank, the officers' statement announced, holds ample securities, but it will take time to realize upon them. The directors have taken steps to obtain the necessary funds to meet the liabilities. The closing was made necessary by reason of the business depression and the difficulty in making collections upon securities ordinarily considered good as cash on hand. They ask the creditors of the bank to assist the directors in their efforts to realize upon the assets as soon as possib e. All the other banks here are on a solvent basis. The Humboldt County Bank, the Bank of Eureka and two savings banks are perfectly solvent, and the Randall failure will not affect them in the least. The directors of the defunct bank are F. Korbell, J. M. Sass, Stephen Hill, David Evans, W. H. Johnston, George A. Kellogg, E. H. Vance, J. S. Murray and A. W. Randall. The president is A. W. Randall: vice-president, Stephen Hill; cashier, Guy L. Roberts (succeeding J.S. Murray, recently departed). The condition of the bank on the 27th of February last was, according to the report of the Bank Commissioners, as follows:

6. April 24, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, April 24, 1897

Click image to open full size in new tab

Article Text

At a recent meeting of the creditors of the Bennett and Columbia mill corporations, in New Bedford, Mass., it was decided to place both concerns in the hands of receivers. It is alleged that $2,500,000 in notes of the corporations have been discovered which do not appear in the reports to the State. An attachment for $100,000 has been placed on the Lambeth Rope Company, of New Bedford, Massachusetts, by the Columbia Spinning Company. Having been denied a 10 per cent. increase of wages, 500 employes of the Kearney & Foote File Works, at Paterson, New Jersey, struck. The National Bank of Winthrop, Maine, has closed. New York brick masons have asked for an advance of five cents per hour, or there will be a general strike by May 1st. Ten out of the 15 unions have signed the contract. The Randall Banking Co., of Eureka, California, closed its doors on Saturday. At Trenton, New Jersey, the Grant Dry Goods Company have assigned; also the Trenton Rubber Company. G. R. Cottrell & Co., New York, hides and leather, have failed. At Grand Forks, N. D., the North Dakota Milling Company, capital $150,000, has assigned. Newark (New Jersey) Cracker and Biscuit Company has asked for receivers. Biedler Bros., wholesale shoe dealers, Baltimore, Md., have failed. The 500 employes of the American Tube and Iron Company, at Youngstown, Ohio, are on strike against a reduction of 10 per cent. in their wages.

7. May 6, 1897 Courier Democrat Langdon, ND
Article from Courier Democrat, May 6, 1897

Click image to open full size in new tab

Article Text

Otherwise. A $300,000 fire burned the busines section of Tullahoma, Tenn. The wager duchess of Bedford dead. A $25,000 fire burned a part of storehouse at the Washington yard. During the past few days wolves have been killed within miles of Jefferson, Iowa. It is announced unofficially that St. Lawrence canal will be opened "I AUN Representative Seth L. Milliken Maine died at Washington of monia. Fire and water did $100,000 damag in three buildings at Arch and mer streets, Boston, occupied by elers. The Randall Banking Company Eureka, Cal., has closed its doors posted a notice that its depositor would be paid in full. Amid imposing ceremonies the ner stone of the trans-Mississippi position arch of state was laid Omaha. Robert W. Hamer, a well known tired broker. living at 1957 Demin court. Chicago, has committed suicide due to ill health. A Lima advice says the Chancha mayo colonists. alarmed by the threa of attack by 1,500 Indians, have the protection of the government. The first production of the "Hoosie Doctor," Augustus Thomas' new toral comedy-drama, was given Washington at the National theate with Digby Bell in the title role. The two hundred miners employe in Chicago Virdew Coal company shaft at Auburn, III., have struck cause the price of powder was ad vanced by the company from $1.90 $2.25. The Japanese, having been turne away from Hawaii, are trying to entrance into the United States. Fift Japanese laborers arrived at San cisco from British Columbia to work California orchards and fields. George W. Donnelly has been pointed temporary receiver for Jacob Ahles Brewing Company of York. Unsecured liabilities, $81,791 nominal assets, $165,822; actual sets, $46,538. A Lima advice says: In quence of the decree suspending coinage of sols, exchange, now at will rise, it is believed, to 24. The posal of the Pacific Hualgayoc pany to lease the Pacasmayo mole been accepted. The barkentine City of Papate, arrived at San Francisco from Tahiti brought news confirming the that Queen Namae of the Raiates islands was captured by the Frenci and sent into exile with her husband an dthe principal chiefs. James M. Wall, cashier of the Farm ere' National Bank of Portsmouth Ohio, pleaded guilty to an indictmen for making false returns to the ernment of the condition of the The court gave him the minimum tence, five years. Coroner Percy F. Smith and his at Uniontown, Pa., have finished inquiry into the tragedy which curred at the Lafayette hotel, and dered a verdict that Joshua McFad den had shot Frank 'M. Brown then taken his own life. Mrs. Maria Ewing Martin has awarded $5,000 damages from Third Avenue Street Railway company of New York city for the death of father, Gen. Thomas Ewing, who knock ed down and fatally injured a cable car Jan. 26, 1896. After a full hearing had been the Texas railroad commission nounced that while they were opposed to any change in the present rates, lieving them to be just and amicable they would recognize the authority the interstate commerce commission case they made any change. The revenue cutter Rush has turned to San Francisco after an successful search for the overdue ship Samaria, bound from Seattle San Francisco. The Rush went miles up the coast but saw no trace the ship and saw no wreckage. There were twenty-one on board. Frank K. Johnson, the heel and to walker, was defeated in a match John Mahoney and W. J. Darling which was completed at Arbeiter Detroit, after twenty-five hours walking minutes thirty

8. December 14, 1897 The Record-Union Sacramento, CA
Article from The Record-Union, December 14, 1897

Click image to open full size in new tab

Article Text

Bank Official Indicted. EUREKA, Dec. 13.-A. W. Randall of the suspended Randall Banking Company has arrived here from his home at San Leandro, and will appear in the Superior Court to-morrow for arraignment on three charges, two for embezzlement and one for falsifying the records of the defunct bank, which were brought against him by the late Grand Jury.

9. January 9, 1898 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 9, 1898

Click image to open full size in new tab

Article Text

ACQUITTED OF ONE INDICTMENT. But There Are Others Against J. S. Murray, the Eureka Bank Cashier. EUREKA, Jan. 8.-J. S. Murray, excashier of the Randall Banking Company, on trial in the Superior Court for falsifying the records of the bank, was acquitted to-day. A separate embezzlement case against Murray in connection with the suspension of the bank is still pending, and he is also under indictment jointly with ex-President Randall for the same offense. The case against Randall has been set for trial February 14.

10. January 9, 1898 The Herald Los Angeles, CA
Article from The Herald, January 9, 1898

Click image to open full size in new tab

Article Text

Cashier Murray's Cases EUREKA, Cal., Jan. 8.-J. S. Murray, ex-cashier of the Randall Banking company, who has been on trial in the superior court for falsifying the records of the bank, was acquitted today. A separate embezzlement case against Murray in connection with the suspension of the bank is still pending, and he is also under indictment jointly with ex-President Randall on the same offense. The case against Randall has been set for trial February 14th.

11. January 9, 1898 The Record-Union Sacramento, CA
Article from The Record-Union, January 9, 1898

Click image to open full size in new tab

Article Text

# Acquitted on One Charge. EUREKA, Jan. 8.-J. S. Murray, ex-Cashier of the Randall Banking Company, who had been on trial in the Superior Court for falsifying the records of the bank, was acquitted to-day. A separate embezzlement case against Murray in connection with the suspension of the bank is still pending, and he is also under indictment jointly with ex-President Randall for the same offense. The case against Randall has been set for trial February 14th.

12. October 9, 1898 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, October 9, 1898

Click image to open full size in new tab

Article Text

For Saturday. Oct. 8. 255 Pelts. bdls 9,938 Flour, qr sks 794 1,495 Hides, No Wheat, ctls 3,660 Eggs, doz 1,520 Barley, ctls 59,400 440 Wine, gals Oats, ctls 51 35 Raisins, bxs Cheese, ctis 92 98 Wool, bales Butter, ctls 381 1,618 Hay, tons Beans, sks 170 2,870 Straw, tons Potatoes, sks 180 305 Hops, bales Bran, sks 201 530 Lime, bbls Middlings, sks 25 445 Sugar, bbis Mustard. sks 850 650 Sugar, bags Tallow. ctls 30,000 Lumber ft OREGON. 905 Wheat, ctls 7,514 Flour, qr sks 540 Middlings, sks 13,450 Barley, ctls 30 6,445 Hay, tons Oats. ctls 503 2,261 Potatoes, sks Bran, sks EASTERN. 420 2,800|Rye, ctls Corn, ctls NEVADA. 20 Hay, tons THE STOCK MARKET Mining stocks were dull and closed the week rather lower than they opened it. Local securities were moderately active, and quotations showed no changes worthy of note. The Pacific Gas Improvement Company will pay a monthly dividend of 50 cents per share to-morrow. The Market Street Railway Company will pay a quarterly dividend of 60 cents per share to-morrow. The Consolidated Imperial Mining Company has levied an assessment of 1 cent per share delinquent November 15. The directors of the Consolidated Imperial have voted the pro rata of 1 per cent to the pumping fund. It was for that purpose that the assessment was levied. The Silver King Mining Company of Utah has declared a dividend of 25 cents per share payable October 10. The directors of the Challenge Consolidated Mining Company have voted a pro rata of 1 per cent for the pumping fund. The Marguerite Gold Mining Company of Placer County has levied its eleventh assessment at the rate of 10 cents per share, payable November 7. The Consolidated New York Mining Company has levied an assessment of 3 cents per share, delinquent November 10. The Junction Mining Company of Tuolumne County has levied an assessment of 3 cents per share, delinquent ovember 3. The annual meeting of the Alpha Consolidated Mining Company has been called for October 25. The Central Eureka Mining Company of Amador County has levied an assessment of 8 cents per share, delinquent November 5. The Randall Banking Company at Eureka went into liquidation in April, 1897, owing its depositors over $200,000. Four dividends in liquidation have been paid. The fifth. of five per cent, will be paid on the 11th. This will make $52,250 returned to depositors. A Honolulu paper of September 28 says that seven sugar plantation companies have just paid out between $350,000 and $400,000 in dividends to stockholders. One of these is the Hawaiian Sugar Company. Dividend No. 112 and extra dividend No. 113, of ten cents each per share, have been declared on the stock of the Pacific Vinegar and Pickle stocks, payable on the 14th inst. According to the New York Engineering and Mining Journal the mining dividends paid in September were as follows: Bullion-Beck & Co., $10,000; Bunker Hill & Co., $21,000; Calumet & Hecla, $1,00,000: Central Lead, $1000; Charleston, S. C., $15,000; Doe Run Lead. $5000: Elkton, Con., $20,000; Gevser-Marion, $6000; Gold Coin, $10,000; Grand Central. $31,250; Highland, $20,000; Homestake, $62,500: Horn Silver, $25,000; Lillie, $9000: Mammoth, $20,000; Mercury, $25,000; Portland, $60,000: Silver King, $37,500; St. Joseph Lead, $37,500; Swansea. $5000; Victor, $100.000: War Eagle, $24,750; Yellow Aster, $10,000; total, $1,555,500.