Merchants Bank (Moorhead, MN)

Episode Information

Episode UID
7928083191106
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
792808319 hash
Start Date
February 8, 1892
Location
Moorhead, Minnesota (46.874, -96.768)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f5019c69a1d66621

Response Measures

None

Description

Newspaper spelling varies (Moorehead/Moorhead); bank was a private partnership.

Events (2)
1. February 8, 1892 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Misappropriation/speculation losses by president H. A. Bruns and large amounts of uncollectible individual paper; insolvency leading to closure.
Newspaper Excerpt
The Merchants' bank of this city closed its doors today: liabilities, including deposits and obligations to other banks, $175,000; assets, $200,000.
Source
newspapers
2. February 12, 1892 Receivership
Newspaper Excerpt
A petition for a receiver has been made... A petition has been presented to the district court for the appointment of P. Van Vlissingen as receiver; the concern will undoubtedly have to go into liquidation.
Source
newspapers

Newspaper Articles (21)
1. February 9, 1892 Wheeling Register Wheeling, WV
Article from Wheeling Register, February 9, 1892

Click image to open full size in new tab

Article Text

NEWSLETS. Interesting Pieces of Telegraphic News in Small Space. A special to the Minneapolis Journal from Moorehead, Minn.. says that the Merchants' Bank of that city, closed its doors yesterday morning with $175,000 on deposit, including considerable of the county funds. At Larned, Kans., the most disastrous fire in the history of the place occurred yesterday morning, wiping out nearly $125,000 worth of property and laying in ashes one of the best business blocks in the city. Geo. W. Kildow, a student at the Southern Presbyterian Theological Seminary in Columbia, S. C., committed suicide yesterday morning in the presence of his young wife by cutting his throat with a razor. It is thought he was insane. Hoffman and Oehniger, importers of bronze powders and lithographic stones at New York, assigned yesterday to Albert R. Moore, with preference of $2,000. An Alger club with 45 members was formed last night at Port Perry, Pa. The members pledge themselves to use their influence to secure the nomination of ex-Governor Alger for President at the Minneapolis convention. Ed Gorma:, the Columbus light-weight, knocked out James Fielding, of the Pacific Slope, last night, at Columbus, in eight rounds. It was for $2,500 a side. Hon. J. G. Wyman, Mayor of Allegheny, was placed on trial in the Criminal Court yesterday morning on a charge of embezzlement and extortion. The sub-treasuary fight in the Alliance in Kansas has been settled, at least so far as representation in the St. Louis convention is concerned. Frank McGrath resigns as delegate, and a sub-treasury man will be appointed. An injunction was granted yesterday restraining the strikers at the Continental tube works, Pittsburg, from interfering with the full force of new men secured, and the works are running witout inconvenience. At San Francisco the fight last night for a purse of $1,000 between Bill Mahan, of San Francisco, and Nally Gailaher, of Oakland, lightweights, resulted in favor of Gallaher in the fifth round. Saturday morning while customers were waiting at Saltons Mill, at Betnel, Ark., to get their grain ground, the boiler exploded and killed Thomas Woods, James Woods and son and B. Waugh. At Lexington, Ky., Dr. Galbraith sold the great Ralph Wilkes 2-year yesterday to George Leavitt, Boston, Mass., for a fancy price. The doctor stated that the price was larger than that paid for Constantine. Constantine sold for $27,000. It is understood that the price was $30,000.

2. February 9, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, February 9, 1892

Click image to open full size in new tab

Article Text

BANK GONE UNDER. The Merchants' of Moorhead May Pay Sixty Cents. Special to the Globe. MOORHEAD, Minn., Feb. 8. - The Merchants' bank of this city closed its doors today: liabilities, including deposits and obligations to other banks, $175,000; assets, $200,000. A large part ot the assets is thought to be worthless paper. A petition for a receiver has been made. It is thought that after a liquidation has been made the bank will be able to pay 60 cents on the dollar. At present looks as though the bank could not be reopened. Much sympathy is felt for T. C. Kurtz. one of the partners. It was a private institution.

3. February 10, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, February 10, 1892

Click image to open full size in new tab

Article Text

SIXTY CENTS. That Is What Depositors of the Moorhead Bank Will Realize. MOORHEAD, Feb. 9.-As stated in yesterday's GLOBE. the Merchants bank of Moorhead closed its doors this morning. The event was a surprise to many, although there had hitherto been rumors of trouble afloat for some time. However, the confidence reposed in T. C. Kurtz, one of the partners, was SO great that few believed that a close would result. So far as can be ascertained the liabilities of the bank, including deposits and obligations to other banks, amounts to about $175,000, and the assets are said to be upwards of $200,000. A large portion of the latter, however, is said to be individual paper which is believed to be uncollectable. It is believed by those who are in a position to know something of the condition of the affairs of the bank that on a liquidation depositors will be paid 60 cents, or more. on the dollar. The bank is a private one, the partners being H. A. Burns and T. C. Kurtz. A meeting of a large number of the creditors was held yesterday afternoon, when the matter was talked over. Such is the confidence reposed in Mr. Kurtz that the meeting decided to petition Judge Mills to appoint him receiver of the bank, in connection with County Auditor Van Blessingen. If not deemed wise to appoint Mr. Kurtz, then the court is requested to name Andrew Hobbs or George E. Perly.

4. February 11, 1892 The Princeton Union Princeton, MN
Article from The Princeton Union, February 11, 1892

Click image to open full size in new tab

Article Text

A Moorhead Bank Closed. MOORHEAD, Minn., Special Telegram, Feb. 9.-The Merchants Bank of Moorhead closed to-day. It is a private bank, H. A. Bruns and T. C. Kurtz forming the partnership. It 18 believed that on liquidation depositors will receive .rom 60 10 70 per cent or their deposits. Public sympathy is largely with Mr. Kurtz. A petition has been signed by the creditors and sent to Judge Mi. Is requesting the appointment of receivers, uding thenamed C. Kurtz. The deposits aggregate $175,000.

5. February 13, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, February 13, 1892

Click image to open full size in new tab

Article Text

Moorhead's Bank Muddle. MOORHEAD, Minn., Feb. 12.-Strong efforts are being made to have the Merchants' bank go into liquidation. At the meeting yesterday S.S. Comstock was chairman, and he was authorized to appoint a committee of five to formulate a plan, although Mr. Van Vlissinger has already been appointed receiver by the court. The liabilities foot up to $202,100, and assets $149,419. The bank holds $141,000 of Mr. Brun's paper, and besides there is an overdraft of $34,000 of his. Mr. Kurtz's indebtedness is $14,000 and is unsecured.

6. February 13, 1892 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, February 13, 1892

Click image to open full size in new tab

Article Text

SHORT IN HIS CASH A Big Shortage Appears in a Minnesota Bank. IT CULMINATED ON THURSDAY Its President is Placed Under Arrest Charged With Having Defrauded the Depositors. MOORHEAD, Minn., Feb. 12-The failure of the Merchant's bank eulminated Thursday in the arrest of Henry A. Bruns, the president of the Institution. The charge against Mr. Bruns is that he misappropriated the funds of his depositors to the extent of more than $100,000. Rumors of a very ugly character are in circulation as to the use made of the money. The one most generally accepted is that Bruns bought wheat on the Chicago board of trade on the wrong side of the market last October, and, losing became desperate, made a big pluage and landed pretty nearly penniless. Complaint is made by Robert Enegren, who has been the bank's bookkeeper for about eight years The outcome of the hearing is looked for with great interest and important developments will doubtless be made. Asked for a Receiver. The bank has dome a heavy business, and has until recently had the entire confidence of the business men of the city and county. The deposits have often reached $250,000, and if reports be true the losses must of necessity be very heavy. A petition has been presented to the district court for the appointment of P. Van Vlissingen as receiver, and the concern will undoubtedly have to go into liquidation, although a meeting of many of the creditors is to be held with a view to reopening. The amount of I money in the vaults is stated to be $100,000, but it is said the books show that there should be nearly $300,000.

7. February 19, 1892 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, February 19, 1892

Click image to open full size in new tab

Article Text

THE Merchants bank of Moorhead has failed for $175,000. H. A. Bruns is the president and he says the suspension is only temporary.

8. February 19, 1892 Vermont Phล“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phล“nix, February 19, 1892

Click image to open full size in new tab

Article Text

ply for $150,000 apiece. The other claims vary from $100,000 to $30,000. Bob Ford, the slayer of the notorious Jesse James, was shot to death in a saloon at Creede, Colo., on Wednesday. The state insane asylum at Jackson, Miss., was burned Tuesday morning, but only one of the inmates perished. Mrs. Mary Clements, who died in New York city last Saturday at the age of 103, had 80 living descendants. She was a native of Ireland. A regularly established bank has began business at the Boston English High school. Its aim is to give the students a practical training in business methods. George Bennett, a farmer 70 years old and reputed to be worth $150,000, disappeared from his home at Canton, Pa., and no trace of him can be found. Henry Miller, a farmer, his wife and mother, were found dead in their house at Hope, Kan., a few days ago. The rooms were full of gas from a coal stove. Sarah Althea Terry, who gained such notoriety by her divorce suit against exSenator Sharon, and her subsequent marriage with Judge Terry, has become insane over spiritualism. The great 130-yards foot race for ยฃ100, was run at Manchester, Eng., on Monday, and was won by Henry Budd of Meriden, Conn. He was a favorite in the betting and his backers won $15,000. H. A. Bruns, president of the defunct Merchants' bank at Morehead, Minn., has been arrested on the charge of defrauding the depositors out of $80,000. He lost the money by speculating in the Chicago wheat markets. Six members of the family of James Broad, a slate manufacturer, have died within ten days of malignant scarlet fever at Belvidere, N. J. The only member of the family left is the wife and mother, who is very ill. A large carpet mill belonging to John and James Dobson at the falls of Schuylkill, a suburb of Philadelphia, was burned Monday. Loss $150,000. The 250 hands at work in the mill escaped, only a few being slightly damaged.

9. February 25, 1892 Warren Sheaf Warren, MN
Article from Warren Sheaf, February 25, 1892

Click image to open full size in new tab

Article Text

THE FAILURE OF THE MERCHANTS Bank at Moorhead has. brought consternation to that community. It is the worst failure that has ever been in the Red River Valley, and effects either directly or indirectly a great many people. Many laboring men and servant girls lost their savings for years and some business men are completely ruined. The liabilities amount to over $200,000, and the assets are an unknown quantity. The bank is now in the hands of a receiver. The prevailing opinionis that creditors will get very little back if any at all. The bank was a private one, owned by Bruns & Kurtz and insreally beenin a defunct condition for seven or eight years, but has been kept up only by the confidence of depositors.

10. March 1, 1892 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, March 1, 1892

Click image to open full size in new tab

Article Text

The Moorhead Bank Case, Special to the Globe. MOORHEAD, Feb. 29.-A meeting of the creditors of the Merchants' bank of this city was held today. Receiver Von Vlessinger submitted a report showing face assets of $310,790.91 and liabilities of $208,073.54. The individual resources of T. C. Kurtz, exclusive of his interest in the bank, are $73,907.08.

11. March 3, 1892 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, March 3, 1892

Click image to open full size in new tab

Article Text

Moorhead Bank Statement. MOORHEAD, Minn., March 3.-An adjourned meeting of the creditors of the Merchant's bank was held, and a statement was read by Receiver Van Vlissengen, The statement showed assets of $310,790.91 and liabilities of $208,073.54. This is the face value, but the real assets will undoubtedly fall far short of the face. T. C. Kurtz also filed an individual account of his property showing a total of $73,907.08.

12. March 3, 1892 The Princeton Union Princeton, MN
Article from The Princeton Union, March 3, 1892

Click image to open full size in new tab

Article Text

Assets and Liabilities. MOORHEAD Minn. Special Telegram, March I.-At a meeting of the creditors of the Merchants' bank to-day Receiver Von Vlissenger read a statement: Assets (face), $310,790.91; liabilities, $208,073.54. T.C. Kurtz; individual resources, exclusive of interest in bank, $73,907.08.

13. January 1, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 1, 1893

Click image to open full size in new tab

Article Text

THE BUSINESS WORLD. Failures, Assignments, Suspensions. Etc., Among Merchants, Bankers and Others. February. 2. The Commercial and Savings Bank of Kearney, Neb., suspended. 8. The Merchants' bank, of Moorhead, Miun., closed its doors. April. 25. John H. Kingsbury, banker, assigned in Brockport, N.Y. The Martin Clothing company assigned in St. Louis; liabilities, $175,000. May. 31. Coster & Martin, grain speculators, failed in Chicago for $500,000. June. 8. The New Oriental Bank of London failed for over $36,000,000. 21. John Mason, jeweler, assigned in New York city; liabilities, $167,000. July. 11. McConnell & Shaws, leather merchants. failed in Boston for $350,000. 19. Robert Duncan. leather manufacturer at Woburn. Mass., assigned with $100,000 liabilities. no August. 16. The Mutual Banking company assigned in Philadelphia. 21. Coburn & Leavitt, operating hosiery mills at Laconia. N. H., assigned; liabilities, $30,000. September. 9. The London Home and Land Trust Building society failed for $2.000.900. 14. Spiegell & Co., furniture dealers. failed in Chicago; liabilities over $150,000. October. 1. Schultz's private bank failed in Berlin for 30.000,000 marks. 8. A. B. Alden & Co., straw goods manufacturers in New York city, assigned; liabilities, $150,000. 20. Burkhalter & Co., wholesale grocers in New York city. assigned; liabilities, $700.000. Novem ber. 18. Mommer & Co., importers, assigned in New York city: liabilities, $150,000. December. 8. Carow & Bartels, brokers, assigned in Hamburg; liabilities, 7,500,000 marks.

14. January 2, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, January 2, 1893

Click image to open full size in new tab

Article Text

THE BUSINESS WORLD Failures, Assignments, Suspensions, Etc., Among Merchants, Bankers and Others FEBRUARY 2. The Commercial and Savings bank of Kearney, Neb., suspended. 8. The Merchants bank of Moorehead, Minn. closed its doors APRIL. 25. John H. Kingsbury, banker. assigned in Brockport, N. Y. The Martin Clothing company assigned in St. Louis: liabilities, $175,000. MAY. 31. Coster & Martin, grain speculators, failed in Chicago for $500,000. JUNE. 8. The New Oriental bank of London failed for over $36,000,000. 21. John Mason, jeweler, assigned in New York city: liabilities, $107,000. JULY. 11. McConnell & Shaws, leather merchants, failed in Boston for $300,000. 19. Robert Duncan, leather manufacturer at Woburn, Mass., assigned with $100,000 liabilities. AUGUST 16. The Mutual Banking company assigned in Philadeiphia. 21. Coburn & Leavitt. operating hosiery mills at Laconia, N. H., assigned: liabilities, $30,000. SEPTEMBER 9. The London Home and Land Trust Building society failed for $2,000,000. 14. Spiegell & Co., furniture dealers. failed iu Chicago: liabilities over $150,000. OCTOBER. 1. Schultz's private bank failed in Berlin for 30,000,000 marks. 8. A. B. Alden & Co., straw goods manufacturers in New York city, assigned: liabilities, $150,000. 20. Burkhalter & Co., wholesale grocers in New York city, assigned: liabilities, $700,000. NOVEMBER 18. Mommer & Co., importers, assigned in New York city: liabilities, $150,000. DECEMBER 8. Carow and Bartels, brokers, assigned in Hamburg: liabilities, 7,500,000 marks.

15. January 2, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 2, 1893

Click image to open full size in new tab

Article Text

THE BUSINESS WORLD. Failures, Assignments, Suspensions, Etc. Among Merhants, Bankers and Others, FEBRUARY 2. The Comperelal and Savings bank of Kearney Neb., suspended. 8. The Merci nts' bank of Moorehead, Minn closed doors APRIL 25. John H. ingsbury, banker. assigned is Brockpet. N.Y. The March Clothing company assigned is St. Loui) liabilities, $175,000. MAY. St. Coster &Martin, crain speculators, falled in Chiefo for $500,000. JUNE. 8. The Neworiental bank of London fallee for el. John Mann.jeweler,assigned in New York city: ilities, $167,000. JULY 11. McConna & Shaws, leather merchants failed Boston for $200,000. 19. Robert incan, leather manufacturer M Wohnt Mass., assigned with $100,000 liabilities ADGRST. 16. The Mari Banking company assigned in Philadephia. 21. Coburn Leavitt, operating hosiery milla at Labila, N. H., assigned; liabilities, $30.00 SEPTEMBER 9. The Labon Home and Land Trust Hulld. ing society failed for $2,000,000. 14. Spiegest Co., furniture dealers, failed in Chicago liabilities over $150,000. OCTOBER 1. Scholtยฎ private bank failed In Berlin for 30,00 marks. 8. A. B. Men & Co., straw goods manufac. tures 11 New York city, assigned: liabilitless 20. Burkli & Co., wholesale grocers in New Yorking assigned; liabilities, $700,000. NOVEMBER 18. Moma & Co., importers, assigned in New Yerminy: liabilities, $150,000. DECEMBER. 8. Caroband Bartels, brokers, assigned in liabilities, 7,500,000 marks.

16. January 2, 1893 Freeland Tribune Freeland, PA
Article from Freeland Tribune, January 2, 1893

Click image to open full size in new tab

Article Text

FINANCIAL FAILURES. FEBRUARY. 2. At Kearney, Neb., the Commercial and Savings bank suspended. 8. At Moorehead, Minn., the Merchants' bank suspended. APRIL. 25. In Brockport, N. Y., Banker J. H. Kingsbury assigned. In St. Louis the Martin Clothing company assigned with $175,000 liabilities. MAY. 31. In Chicago grain speculators Coster & Martin failed for $500,000. JUNE. 21. In New York city Jeweler John Mason assigned with debts of $167,000. JULY. 11. In Beston McConnell & Shaws failed for $300,000. 19. At Woburn, Mass., Robert Duncan, leather maker, assigned with debts of $100,000. AUGUST. 16. In Philadelphia the Mutual Banking association assigned. 21. At Laconia, N. H., Coburn & Leavitt. mill operators, assigned with $30,000 debt. SEPTEMBER. 14. In Chicago Spiegel & Co., furniture dealers, failed for over $150,000. OCTOBER. 8. In New York city A. B. Alden & Co., straw goods, assigned with debts of $150,000. 20. In New York city Burkhalter & Co., wholesale grocers, assigned owing $700,000. NOVEMBER. 18. In New York city Mommer & Co., importers, assigned owing $150,000. DECEMBER. 8. In Hamburg, the brokers Carow and Bartels assigned, owing 7,500,000 marks.

17. January 4, 1893 The Indiana State Sentinel Indianapolis, IN
Article from The Indiana State Sentinel, January 4, 1893

Click image to open full size in new tab

Article Text

THE BUSINESS WORLD. Failures, Assignments, Suspensions, Etc., Among Merchants, Bankers and Others. FEBRUARY. 2. The Commercial and Savings bank of Kearney, Neb., suspended. 8. The Merchants' bank of Moorehead, Minn., closed its doors. APRIL. 25. John H. Kingsbury, banker, assigned in Brocknort N. Y.

18. January 6, 1893 The Goodland Republic Goodland, KS
Article from The Goodland Republic, January 6, 1893

Click image to open full size in new tab

Article Text

FINANCIAL FAILURES. FEBRUARY. 2. At Kearney, Neb., the Commercial and Savings bank suspended. 8. At Moorehead, Minn., the Merchants' bank suspended. APRIL. 25. In Brockport, N. Y., Banker J. H. Kingsbury assigned. In St. Louis the Martin Clothing company assigned with $175,000 liabilities. MAY. B1. In Chicago grain speculators Coster & Martin failed for $500,000. JUNE. 21. In New York city Jeweler John Mason assigned with debts of $167,000. JULY. 11. In Boston McConnell & Shaws failed for $300,000.19. At Woburn, Mass., Robert Duncan, leather maker, assigned with debts of $100,000. AUGUST. 16. In Philadelphia the Mutual Banking association assigned. 21. At Laconia, N. H., Coburn & Leavitt, mill operators, assigned with $30,000 debt. SEPTEMBER. 14. In Chicago Spiegel & Co., furniture dealers, failed for over $150,000. OCTOBER. 8. In New York city A. B. Alden & Co., straw goods, assigned with debts of $150,000. 20. In New York city Burkhalter & Co., wholesale grocers, assigned owing $700,000. NOVEMBER. 18. In New York city Mommer & Co., importers, assigned owing $150,000. DECEMBER. 8. In Hamburg, the brokers Carow and Bartels assigned. owing 7,500,000 marks.

19. January 6, 1893 People's Voice Wellington, KS
Article from People's Voice, January 6, 1893

Click image to open full size in new tab

Article Text

BUSINESS FAILURES. THE MORE DISASTROUS ONES NOTED-BANKS GENERALLY. Jan. 11-First national bank, of Muncie, Pa. Jan. 23-First national bank of Downs, Kan.; $100,000. Jan. 25-Bank of Jefferson at Shepherdstown, W. Va. Jan. 29-Fall River county bank at Oelricks, S. D.: $30,000 Butler county bank at Chicora, Pa.: $60,000. Feb. 2-Commercial loan and savings bank at Kearney, Neb.: $150,000. Feb. 3-National bank of Silver City, and Feb. 4-Marcy, Geer & McCann's back at Raton, N. .M.; $800,000 First national bank of Deming, N. M. Feb. 6-Western Farm Mortgage Company at Denver; $1,000,000. Feb. 8 - Merchants' bank of Moorehead, Minn.: $175,000. Feb. 26-Newmarket (N. H.) savings bank suspended; $191,000. Mar. 1-Lima (0.) national bank. Mar. 21-Painesville (O.) Savings and Loan Association bank. Mar. 24 -American national bank of Birmingham, Ala. Apr. 15-Interstate national bank of New York. Apr. 27-Commercial bank of St. Paul, Minn.: ; $1,000,000. May 25-People's bank of Sea Isle City, N. J. June 4-Platte Valley bank at Central City, Neb. June 25-First national bank at Erie, Kan, Nesha county; losses, $30,000. Sep. 2-Nebraska State bank. at Crete. Sep. 23-Richmond (Me.) savings bank. Sep. 24-People's bank at Hope, Ark Oct. 17-Two Nebraska state banks, one at Ainsworth, the other at Springview. Oct. 27-Hot Springs (Ark.) Valley bank (private); $80,000. Nov. 5-Continental bank at Kansas City, Mo. Nov. 30-Stone City bank, of Joliet, 111., and Joliet Enterprise Co. (barb wire manufacturers); $1,000,000. Dec. 6-Wholesale mercantile firm of Wilczinski & Nelson at Greenville, Miss.: $100,000. Dec. 13-Black Hilis national bank at Rapid City, S. D. Dec. 13-Lipman & Co., jute merchants at Dundee. Scotland, failed for $1,250,000. Dec. 15-National bank of Newton, Kan. Dec. 18-Wholesale grocery in Brooklyn, N. Y.; $400,000. Dec. 26-E.S.Corser Minneapolis, real eastate dealer: $1,000,000.

20. January 7, 1893 The Carbon Advocate Lehighton, PA
Article from The Carbon Advocate, January 7, 1893

Click image to open full size in new tab

Article Text

Failures, Assignments, Suspensions, Etc., Among Merchants, Bankers and Others. FEBRUARY 2. The Commercial and Savings Bank of Kearney, Neb., suspended. 8. The Merchants' bank of Moorehead, Minn., closed its doors. APRIL. 25. John H. Kingsbury, banker. assigned in Brockport, N. Y. The Martin Clothing company assigned in St. Louis: liabilities, $175,000. MAY. 31. Coster & Martin, grain speculators. failed in Chicago for $500,000. JUNE. 8. The New Oriental bank of London failed for over $36,000,000. 21. John Mason, jeweler, assigned in New York city: liabilities, $167,000. JULY. 11. McConnell & Shaws, leather merchants, failed in Boston for $300,000. 19. Robert Duncan, leather manufacturer at Woburn, Mass.. assigned with $100,000 liabilities. AUGUST. 16. The Mutual Banking company assigned in Philadelphia. 21. Coburn & Leavitt, operating hoslery mills at Laconia, N. H., assigned: liabilities, $30,000. SEPTEMBER 9. The London Home and Land Trust Building society failed for $2,000,000. 14. Spiegell & Co., furniture dealers, failed in Chicago: liabilities over $150,000. OCTOBER. 1. Schultz's private bank failed in Berlin for 30,000,000 marks. 8. A. B. Alden & Co., straw goods manufacturers in New York city, assigned: liabilities, $150,000. 20. Burkhalter & Co., wholesale grocers in New York city, assigned; liabilities, $700,000. NOVEMBER 18. Mommer & Co., importers, assigned in New York city: liabilities, $150,000. DECEMBER 8. Carow and Bartels, brokers. assigned in Hamburg: liabilities, 7,500,000 marks.

21. January 7, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 7, 1893

Click image to open full size in new tab

Article Text

FINANCIAL FAILURES. FEBRUARY. 2. At Kearney, Nob., the Commercial and Savings bank suspended. 8. At Moorehead, Mins, the Merchants' bank suspended.