837. First National Bank (Los Angeles, CA)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 2491
Charter Number: 2491
Start Date: June 21, 1893
Location: Los Angeles, California (34.052, -118.244)

Metadata

Model: gpt-5-mini
Short Digest: 867768d8

Response Measures

Full suspension, Books examined

Other: Bank closed by order of board; state commissioners/examiners inspected and later banks reorganized and obtained permission from Comptroller to reopen.

Description

Contemporary reports (June 21, 1893) describe a heavy run on the First National (withdrawals ~ $600,000) causing the board to close the bank; later reports (mid-July 1893) state the First National reopened. The run appears driven by street rumors/nervousness rather than revealed insolvency.

Events (4)

1. August 16, 1880 Chartered

Source: historical_nic

2. June 21, 1893 Run

Cause: Rumor Or Misinformation
Cause Details: Reports repeatedly call the run 'idiotic' or caused by rumors on the street; heavy withdrawals (~$600,000) over two days.
Measures: Bank paid checks during the run; board of directors ordered closure; later reorganizing preparations and request for permission to reopen from Comptroller.
Newspaper Excerpt: A notice was posted on the doors of the First National to the effect that owing to a heavy run upon the bank it must close.
Source: newspapers

3. June 21, 1893 Suspension

Cause: Rumor Or Misinformation
Cause Details: Closure explicitly attributed to heavy run driven by street rumors and public nervousness; state examiner later called the run senseless and banks solvent.
Newspaper Excerpt: Notice posted that owing to a heavy run upon the bank amounting to over $600,000 the bank was closed by order of the board of directors.
Source: newspapers

4. July 15, 1893 Reopening

Newspaper Excerpt: Los Angeles, Cal., July 15.-The First National bank opened to-day. The deposits exceeded the withdrawals by about $225,000.
Source: newspapers

Newspaper Articles (23)

1. June 18, 1893 The Herald Los Angeles, CA

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culated on the street, the most important of which was that money had been drawn from the bank after banking hours. He said that.the officials had attempted to raise money from other banks, but could not, as they required all the money they had on hand. A number of business men were aware of the run that was being made on the bank, but declined to withdraw their money, and thus embarrass the institution. Several business houses are reported in straightened circumetances, and if the defunct bank should fail to meet its obligations a collapse would likely OCcur. Business closed today without any failure in commercial circles. The other three banks are in a sound condition and nothing in the way of a financial crisis is expected. More than $100,000 in gold coin has been placed in the other banks in the past two days. One bank has cash on hand to the amount of $208,600, while its entire deposits and debts amount to $204,250, which is an excellent showing. The city treasurer has a small sum on deposit in the closed bank. The county treasurer has a deposit amounting to $26,500 in it also, which is secured by an indemnity bond, while the county clerk had placed about $1600 in its vaults for safe-keeping. They do not feel at all uneasy, but are of the opinion that they will be paid in full. A slight run occurred on the First National this morning, but did not amount to much, as it has more than enough money on hand to pay off all depositors. The streets are quiet and no further trouble is expected. The closed bank may open Tuesday, but no assurance could be given.

2. June 22, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, June 22, 1893

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FOUR BANKS FAIL. California Institutions Closed Their Doors Yesterday. Los ANGELES, CALA., June 21.-Four banks closed their doors to-day. They were the National, Southern California, Broadway Bank and South Side Bank. President Melliott, of the First National, said: "The unprecedented run of the last two days, during which we paid checks of over $600,000, was more than we could stand. The amount of liabilities to the depositors will be somewhere in the vicinity of $1,250,000, against which we have all our bills receivable, capital and surplus which will amount in the aggregate to $500,000 more than this sum."

3. June 22, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, June 22, 1893

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COMPELLED TO SUSPEND An "Idiotic" Run on Los Angeles Banks Causes a General Closing of Doors. LIABILITIES WILL BE MET Each Bank Will be Able to Pay Its Depositors in Full-Exciting Scenes on the Street. Los ANGELES. Cal.. June 21.-Four banks closed their doors to-day. They were the First National, the Southern California. the Broadway and the East Side banks. A large crowd assembled at the corner of First and Spring streets early in the forenoon. At 10 o'clock a notice was placed on the doors of the Southern California bank to the effect that the bank would not open to-day. All eyes then turned to the Los Angeles National on the opposite corner. Another large crowd was in front of the First National and the Farmers and Merchants' bank. While there had been all sorts of rumors upon the street about the former. but few people in the crowd. a large majority of whom were curiosity seekers, doubted for a moment that the doors would be open at the usual hour. But a notice was placed upon the doors of the First National to the effect that. owing to a heavy run upon the bank. amounting to over $69,000. the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the state banks. the City and the University, which suspended yesterday. Gerberding says that, from a cursory examination of the University bank. made last night, he found that the bank owes $14,000 and has $80,000 assets. Gerberding says that idiotic would not be too strong a term to apply to the senseless run on the banks here now. as they were never in better condition. Promptly at 10 ''clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along the curbstone, extending north on Spring street for over 100 feet, was on hand under police escort, to take their turns in entering the bank. Just before the iron gates swung open. Major Bonebrake appeared on the steps, bareheaded as he appeared yesterday, and, addressing the crowd. said: "Not a depositor of this vault will lose a dollar of his money, for the bank can pay two dollars for one. I appeal to the depositors to have patience." The speech was greated with cheers. The bank made satisfactory terms with its depositors. The Farmers' and Merchants' bank had a strong pull on its coffers. The officers declared that they were prepared to meet any demand. President J. M. Elliott the First National said: "When this thing commenced. we had over $800,000 in cash on hand and, with our correspondent subject to check at sight. considered ourselves, from the class of paper held. in most excellent condition. The unprecedented run of the past two days, during which we have paid checks of over $600,000, was mere than we could stand. The amount of our liabilities to depositors will he somewhere in the vicinity of $1,250,000, against which we have all our bills receivable. our capital and our surplus, which will amount in the aggregate to $500,000 more than this sum." The Broadway bank. on the corner of Sixth street and Broadway, failed to open this morning. Against the glass of the door was a notice that depositors would be paid. The only liabilities are call deposits of $12,000; certificates of deposit due in September. $10,000; total. $22,000. The bank's commercial loans, well secured. I amount to $40,000. and other securities to f $20,000, making a total of $60,000.

4. June 22, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 22, 1893

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BANK FAILURES IN LOS ANGELE. Los Angeles, Cal., June 21. The Southern California National Bank and the Los Angeles National Bank here have closed their doors. Later in the day the Broadway bank and the East Side bank closed their doors. The First National has announced that the withdrawals of the last two days exceeded $600,000. Bank Examiner Gerberding says the run on the banks is senseless, and that they are all fully solvent. The suspensions created much excitement and great crowds gathered on the streets. Runs were made upon the Farmers and Merchants' and the Los Angeles Banks. The former paid all deposits promptly, but the latter announced it would pay only small depositors, and give the larger part in cash and the remainder in certificates payable in rixty days. San Diego, June 21.-Following in the wake of the financial troubles is To Angeles, the Consolidated National Bank suspended payment this morning The Savings Bank of San Diego, which has its office with the Consolidated National, and which is closely related in management, suspended at the same time, owing to a run consequent upon the morning suspensions. The First National closed its doors this afternoon. Portsmouth, Ohio, June 21.-The Citizens' Savings Bank has failed.

5. June 22, 1893 The Sun New York, NY

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SIX BANKS CLOSE. Four of Them Are at Los Angeles and Two at San Diego. Los ANGELES. Cal.. June 21.-Four banks closed their doors to-day. They were the First National. Southern California. Broadway Bank. and East Side Bank. A large crowd assembled at the corner of First and Spring streets early in the forenoon. At 10 o'clock notice was placed upon the doors of the Southern California to the effect that the bank will not open to-day. All eyes were turned to the Los Angeles National. which is situated on the opposite corner. Another large crowd was in front of the First National and the Farmers' and Merchants' Bank. There had been all sorts of rumors on the street about the former. but few people in the crowd. a large majority of whom were curiosity seekers, doubted for a moment that the doors would be open at the usual hour. but a notice was posted on the doors of th.e First National to the effect that owing to a heavy run upon the bank it must close. At San Diego the Consolidated National and the Savings Bank of San Diego suspended. There is no question of the assets of these banks. They all have twice as much assets as liabilities. but their money is loaned out on real estate. and it can't be taken in at demand. It is feared that all the banks will have to close for a few days. as none can stand a steady run. It is also feared that several San Francisco banks. which have been helping local banks. will be embarrassed. San Francisco bankers here were very nervous over the news from Los Angeles. It is expected that a run will be made on several San Francisco banks which are known to be involved with these Los Angeles institutions. and which have large sums loaned on Southern California property.

6. June 22, 1893 Fort Worth Gazette Fort Worth, TX

Article from Fort Worth Gazette, June 22, 1893

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FOUR BANK Los Angeles, Cal., June 21.-Pour closed their doors today. They with first national. the Southern California the Broadway and the East Hill A large crowd assembled at the of First and Spring streets I it noon. At 10 o'clock a notice with upon the door of the Southern the effect that the today. nia would bank ot to open All eyes turned to the Los Angeles National on the opposite side of the other crowd was in front of the De geles and the Farmers and Memo banks. While there had been all rumors 0 the street about the people in the crowd. a large whom were curiosity-suchers doesnoy the doors would open at the usual when a notice was placed on the the First National to the effect the ing to a heavy run on the bank asics to over $600.000, the bank WAS class the directors. The East Side bank's doors bark following notice: "On account of at MAY ing able to cash our New York Francisco exchange TO are BE to close our danta. Depositors paid in full."

7. June 22, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 22, 1893

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BANKS SHUTTING DOWN. FOUR LOS ANGELES INSTITUTIONS CLOSED. RUNS ON BANKS IN PORTSMOUTH OHIO-BUFFALO PRIVATE BANKERS ASSIGN. Los Angeles, Cal. June 21.-Four banks closed their doors to-day. They were the First National, Southern California, Broadway Bank and East Side Bank. A large crowd assembled at the corner of First and Spring sts. early in the forenoon. At 10 o'clock notice was placed upon the doors of the Southern California to the effect that the bank would not open to-day. All eyes were turned to the Los Angeles National, which is situated on the opposite corner. Another large crowd was in front of the First National and the Farmers' and Merchants Bank There had been all sorts of pumors on the street about the former, but few people in the crowd. a large majority of whom were curiosity-seekers, doubted for a moment that the doors would be open at the usual hour, but a notice was posted on the doors of the First National to the effect that owing to a heavy run upu the bank. the doors would not be opened. Buffalo, June 21.-H. C. Tucker & Co., private bankers, doing business in the Chapin block, closed their doors this morning. The company had a large amount of money lent on mortgages, also on notes and paper, on which it was hard to realize quickly? Aside from the banking business they continued to do a general real estate, loan and in surance business. It is stated that the embarrassment will in no way affect any other business house, although the firm did a strictly Buffalo business. The figures coald not be given by either of the firm nor would either state whether there was any likelihood of their resuming business. Portsmouth, Ohio, June 31.-The Citizens Savings Bank assigned this morning to A. F. Holcomb and Frank M. Smith. A run on the bank made this step necessary. The liabilities are something over $300,000 and assets $400,000. The excitement spread and runs were made on the other banks, namely. the Portsmouth National Farmers National and First National. and they are taking advantage of the 10 per cent limit. The Little Kanawha lumbering mills are in the hands of a receiver. The failure of the citizens will embarrass some of the manufacturers here.

8. June 22, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 22, 1893

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of the First National was to the effect that owing to the heavy run upon the bank amounting to over $60,000, the bank was closed by order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash New York and San Francisco exchange, we are compelled to close our doors. Depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday. He is now in charge of the State bank, the City and University, which suspended yesterday. Mr. Gerberding says from a cursory examination of the University bank made last night he found that the bank owes $14,000 and has $30,000 assets. Gerberding says idiotic would not be too strong a term to apply to the senseless run on the banks here now, as they were never in better condition. Promptly at 10 o'clock this morning the Los Angeles National bank opened its doors. A long line of depositors, stretching along Curb street and extending north on Spring street for over 100 feet, were on hand under police escort, to take turns in entering the bank. Just before the iron gates swung open, Major Bonebrake appeared on the steps bareheaded as he

9. June 22, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, June 22, 1893

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FOUR BANKS SUSPEND. Los Angeles Feels the Effect of the Stringency. Los ANGELES, Cal., June 21.-Four banks closed their doors today. They were the First National, Southern California, Broadway bank and East Side bank. A large crowd assembled at the corner of First and Spring streets early in the forenoon. A notice was placed upon the doors of the First National that owing to a heavy run upon the bank amounting to over $600,000 the bank was closed by the order of the board of directors. The East Side bank doors bore the following notice: "On account of not being able to cash our New York and San Francisco exchange we are compelled to close our doors. The depositors will be paid in full." A. Gerberding, one of the state commissioners, arrived here yesterday from Riverside and San Bernardino. He is now in charge of the state banks-the City and University-which suspended yesterday. Commissioner Gerberding says from a cursory examination of the University bank last night he found that the bank owes $140,000 and has $300,000 assets. The Farmers and Merchants' bank stood the long pull on its

10. June 27, 1893 The Herald Los Angeles, CA

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ALL DOING WELL. THE SUSPENDED BANKS GETTING READY FOR BUSINESS. The First National to Be ReorganizedThe University to Reopen this Week-The Southern California Only Waiting for the Word. The suspended banks are all busy preparatory for business. At the First National yesterday no definite statement could be obtained as to its plans further than that the bank would be reorganized, and that when it did open it would be stronger than before. THE UNIVERSITY. President Widney of the University bank yesterday etated to a HERALD re. porter that his bank would reopen some day this week, and gave out the following correspondence: To Hon. W. H.H. Hart, Attorney-General: DEAR SIR: In compliance with the law we beg leave to report that we have examined the affairs of the University bank of Los Angeles and submit the following: $132 905 90 Amountdue depositors Amount due banks 7,890 63 $140,796 53 The bank has solvent aasets equal to double this amount, and in addition thereto the directors have transferred to the bank, in trust for the depositore, real estate valued at double the amount due creditore. We therefore recommend that the University bank be permitted to resume business as soon as possible. Yours respectfully, A. GERBERDING C.H. DUNSMOOR, Bank Com's. To the University Bank of Los Angeles: GENTLEMEN: In view of the above report, and concurring with the commissioners therein, I direct that said bank may resume business on its obtaining sufficient money, in your judgment, to meet the demands of depositors in the ordinary course of business. WM. H. H. HART, Yours truly, Attorney-General. "We will open some day this week," said Judge Widney, "as soon as we have cash enough on hand. There is no bank in the state that can make the showing we do of four dollars to one in assets, and when we open any depositor who tries to draw his money out from feelings of insecurity cught to be drummed out of the city.' " THE SOUTHERN CALIFORNIA. The officials of this bank were all happy yesterday. They said that they were ready to reaume just as soon as permission is received from the comptroller of the currency, which would unquestionably be given inside of a week or 10 days. BROADWAY BANK. The state bank commissioners, C. H. Dunemoor and A. Gerbarding, made the following statement to Attorney-General Hart yesterday: Upon examination of the Broadway bank, we beg to advise you that the total amount due depositors is $22,400, and the total of assets is $60,000. This bank has arranged with its depositore to defer payment upon all but $3000, and we recommend that it be permitted to resume business at the earliest opportunity. Attorney-General Hart replied as followe: "I have examined the report of the bank commissioners herewith handed to you in reference to the present condition of your bank, and I agree with the commissioners in the conclusions reached by them. and direct that you open immediately for business.

11. June 29, 1893 The News-Herald Hillsboro, OH

Article from The News-Herald, June 29, 1893

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NEWS ITEMS. The Columbus caravels, en route to Chicago, will stop at Cleveland, O. Two deaths from cholera occurred at Calais Thursday, and the disease is still spreading. The Ellsworth Packing and Provision Co., of Chicago, made an assignment Wednesday. Louis Dreyfus, wealthy merchant of Long Branch, N. J., killed himself while on a spree. The Delaware, (0.), hazers refuse to pay attorneys' fees, and will now be arrested and the old case revived. Cholera reports from Mecca show that from June 16 to June 20 there were 830 deaths from cholera in that city. The race for the Seaton Delaval plate of 1,200 sovereigns at London, was won by Chinchin, Sir Jacob second, Guiser third. The Peruvian government has fined the Peruvian corporation £5,000 for non-compliance with the terms of the contract. Mrs. Mary Brainard, a poor widow of Michigan City, Ind., has just fallen heir to $50,000, left by a bachelor brother at Cleveland, O. Ecuador has sent to Lord Rosebery a formal protest against the further encroachment by the British on Venezuelan territory. Mrs. Annie Teagarden suicided with morphine at Indianapolis through grief for the death of her mother: and brother within two weeks. Gen. Crespo has formally assumed the presidency of Venezuela under the constitution. The assembly named him for the short term Dr. R. P. Gordon, of Hebron, Ky., who was jolted out of a cable car in the La Salle street tunnel, Chicago, while asleep, died of his injuries Cholera is decreasing HApidly throughout Russia. In Bessarabia, Podila, Kurs ka and Orel only an occasional death and a few fresh cases are now reported. Four banks at Los Angeles, Cal., closed their doors Wednesday. They were the First national, Southern California, Broadway bank and East Side bank. The as used by Wm. E. Gladstone in trees on his estate of will on felling be placed exhibition Hawarden within in the Forestry building, World's fair, a few days. The First National bank at Kendallville, Ind., has been forced to close its doors. It was regarded as one of the soundest banking institutions in northern Indiana. Superintendent of Schools Strauss, of W. Va., clared innocent of the Parkersburg, charge has been brought deA.C. Stephenson causing her death by severe by daughter's Mrs. of and sarcastic comment Friday morning at Griffith, on the & Erie, a young man named to board a Chicago Weeks attempted fell moving under train at Valparaiso, Ind., and the wheels Both legs were cut off above the knees. The Russian press censorship has forbidden the Russian press to discuss the Franco-Russian commercial treaty just on the ground a commercial compact concluded, purely that and it with- is out significance. Woodman, Miss political Phoebe the married favorite of Poet Whittier, was at Mass., Thursday to the artist. The Calliga, niece Danvers, couple Mr. did J. not H. meet until last winter. and it was a case of love at first sight. Charles Roeser, jr., of Wisconsin, chief topographer of the post office department died in Washington Friday of He was of served in the war in age night and apoplexy. the 49 Thomas. commis- years sary department, under Gen. The Citizen's Savings bank, of Portsmouth, O., assigned Wednesday morning to A. F. Holcomb and Frank M. Smith. A run on the bank made this step necessary. The liabilities are something over $300,000, and assets over $400,000. Alarming reports have come from farmers throughout Bartholome and counties in of the Hessian fly in In ravages adjoining Indiana wheat. of the many fields it has been found that one stock in every six has been attacked by the fly. The national association of swine breeders, in session at DesMoines, Ia., by the election has Dawson, organized president; of H.C. of Nebraska, for of vice president, A. J. Seagraves, Indiana; secretary and treasurer, Wm. McFadden, of Iowa.

12. June 30, 1893 The Times Owosso, MI

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ENLISTED Thaians nau a light WITH other Indians at the Chevenne agency in Montana and five of the latter were killed. ROBERT E. PHILLIPS and Arthur Mead, prominent members of the were Boston chamber of commerce, drowned by the upsetting of a boat. FISHER BROTHERS, cloak manufacturers in New York, failed for $150,000. felt AN earthquake shock was throughout North and South Carolina and Georgia. BY edict issued by the school commissioners all married teachers in the public schools in St. Louis have been dismissed. FOUR persons were burned to death in a fire that destroyed the Bunnel block in Duluth, Minn. FOUR banks closed their doors in Los Angeles, Cal. They were the First national. Southern California, Broadway bank and East side bank. At San Diego the Consolidated national bank and the Savings bank suspended. THE collections of internal revenue for the eleven months of the current fiscal year amounted to $145,682,390, an increase over the corresponding period of the last fiscal year of $7,457,403. FRANCIS SPIES, vice consul for Honcommitted suicide in New York. Utah Clothing duras, THE Manufacturing failed for company at Salt Lake City $100,000. CYCLONE that passed through Williamstown and the surrounding counin Jefferson county, Kan., killed try twenty persons and destroyed thirty houses and many barns. THE Duryea Portland Cement company's cement plant near Montezuma, loss N. Y., was destroyed by fire, the being $125,000. SLOAN, JOHNSON & Co., wholesale grocers at Omaha, Neb., have failed for $160,000. THE Citizens' savings bank of Portsmouth, O., closed its doors, with liabilities of $300,000. CHARLES R. METTONAY and his horse nd forty h ead of cattle were buried out of sight in quicksand near Winimac, Ind. A CYCLONE passed through Adair county, Ia., and Lake Contrary and Conception, Mo. At the latter point three persons were killed and great damage was done. C. CRANE & Co., Cincinnati lumber dealers, failed for $150,000. FRED L. KENT, cashier of the First national bank of Ellsworth, Me., was said to be a defaulter in the sum of $19,000. struck a circus tent at Wis., and seven River LIGHTNING Falls, persons were killed and thirty injured. JOHN HARRISON and wife, of Leadville, Col., drew $1,500, their savings of years, from the bank, and the money was stolen the same day. CHARLES KELLER and his wife and John Steinbaugh were killed by the cars at a railway crossing near Lima, O. THE national convention of Women's Amateur Musical clubs met in Chicago. NEAR Phalanx, O., Preston Osborn, his wife and two of their children and a man named Heintzslman were fatally poisoned by some ingredient that had afbeen mixed with their coffee. The fair was shrouded in mystery. CHARLES P. WHALEN was sentenced at Janesville, Wis., to twenty-five years imprisonment for the murder of Gerald Spaulding. A NUMBER of exhibiters at the world's fair met and recorded themselves as being unalterably opposed to the opening of the world's fair gates on Sunday, not only on moral grounds but from a financial standpoint as well, and decided to enter suit for an injunction to have the gates closed on Sunday. THE Methodists have decided not to withdraw their world's fair exhibit on account of Sunday opening, but it The will be covered up on the Sabbath. church committee adopted resolutions in declare that the act of the in turning its of honor to keeping which directory they pledge aside the States from conand people of the United will in the as an gress be conspicuous future business act of perfidy beclouding the of the citizens of Chicago of shame will not which integrity years killed remove. by FIVE men were instantly an explosion of gas in a mine at Nanticoke, Pa. THE Columbia liberty bell, the tribute to the shrine of will in Chicago for of which many ring independence, the first time July 4, was successfully cast at the Clinton & Meneely bell foundry in Troy, N.Y. BAIRD & BRADLEY, real estate dealers in Chicago, made a voluntary assignment with assets estimated at $600, 000 and liabilities at $400,000. SUPERIOR JUDGE GRANT decided in favor of Sacramento and against San Jose in the California capital removal case. FOREST fires in the western part of Pueblo, Col., were doing enormous damage. BANKS closed their doors at Santa Anna, Cal., San Diego, Cal., Pomona Cal., Ontario, Cal., Greenville, Mich and Ridgeway, Me. JACOB HAJANEKI, of Akron, O., fatal ly shot his wife and then stabbed him self fatally. No cause was known. THREE men who were put in jail the evening before a fire at Virginia, Minn. were burned to death. armored THE big cruiser nearly Maine, four which has been building for years at the Brooklyn navy yard, was

13. July 4, 1893 The Herald Los Angeles, CA

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THE SUSPENDED BANKS. The Commercial Organizations to Endorse Their Solvent Condition. Owing to some technicality the two national banks, the Southern California and First, have not as yet received their commissions from Washington, although they are in good condition and pretty near ready to open. Special meetings of the directors of the chamber of commerce and board of trade have been called for tomorrow to take action in regard to the situation and write to the authorities at Washington to allow these two institutions to open their doors at an early date. The intention of the meetings, also, is to show that full and perfect confidence is felt in the banks, and that they have the support of the commercial interests of the city.

14. July 5, 1893 The Herald Los Angeles, CA

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THE BANKS WILL OPEN. a MISLEADING TIMES STATEMENT FULLY CONTRADIOTED Comptroller of the Currency Kohles Has Not Expressed an Unfavorable Opinion-No R. ceiver for the First National. The HERALD was "ecooped" yesterd on a very important piece of new by the Times, the only trouble about ch ilio "news" being that it was ottrud. latter journal printed a local article headed to the effect that Comptrolier the Currency Eckela had written a 100ter to some person unnamed in this city, which letter was received on Monday. stating that he would deny permission to the suspended national banks to open, unlees a sufficient number of de positors indicated a willingness for the institutions to resume. The article produced a decided EPOHA tion, and if yesterday had been a busi nees day, another wild panic might have resulted from its alarming tone but fortunately for all parties appear that, according to the statements of officere of the banks, and other gentlemen referred to, there is not a eingle word of truth to it. THE SOUTHERN CALIFORNIA BANK The article commences with the fol lowing statement A letter was received yesterday from Hon.J./. Eckles, comptroller of the currency, in which that official declines to archorized the reopening of the Souther California bank, unless a sufficient number of customers and depositors indicate their willingness to have the bank continue business. "Immediately on receipt of this letter the following petition was prepared and circulated among those who are on the bank's ledger as customers, and was very generally signed "Los ANGELES, July 3, 1893. "To the Hon. J. H. Eckles, Controller of the Currency, Washington, D. O.Sir: We, the undersigned, being customers and depositors of the Southern California bank of Los Angeles, having perfect confidence in said bank and its management, and being perfectly eatisfied its temporary suspension was not on account of mismanagement, and our confidence not having been shaken by its temporary supension, we hereby express our willingness to continue business with said bank, and hereby respectfully request that you grant permission for it's speedy reopening. 'When completed, the petition will be transmitted by telegraph to the comptroller of the currency by Senator White, with a statement as to the names attached to the document. With reference to this newturn of affairs, it has been explained that this is but a part of the red tape now in vogue in the comptroller's office. Mr. Ecklee has been known to express himself as opposed to the reopening of suspended national banks, unless upon the strongs th showing, and the urgent demand of depositors. In regard to the Southern California National bank, it is now strongertati ever, and has been ready and anxious to reopen for several days, only awaiting the permission of the comptroller. In putting itself in its present strong position to resume payment the bank makes the proud boast that it has not called upon single patron to pay his account, unless overdue.' A HERALD reporter at once, on reading the above, called on Mr. Bosbyshell, of the bank, and asked him about the matter. "You may say," he answered, "that we have not even had a hint from Mr. Eckles or ny other official that we will not be permitted to resume. In fact there is overy reason to believe that we will be allowed to open our doors at an early date. The comptroller has not denied permission to resume, nor is such a thing possible, as he could not have received Examiner Wightman's report until yesterday, and, furthermore, he has not been asked to let us reopen. We make no request of the comptroller. The whole matter is treated through the examiner's report, and only that way. The latter part of the article's reference to us is correct, we are all ready toopen, and have more than enough cash on hand to meet any possible demand. "The assertion that we were compelled to get the depositors to sign the petition to the comptroller referred to is also without foundation. It was our own idea and was not ordered from Washington. "I have no right to speak for Examiner Wightman and his report, but feel justified in saying that it will be strongly in favor of our immediate reopening. as there is no reason in the world why it should not be.' THE FIRST NATIONAL. The Times' article then goes on to say "It was ascertained yesterday that for several days there has been a movement on foot looking to the appointment of a receiver for the First National bank, and that John E. Plater of the Bank of America was being urged for the place; in fact, that strong letters had been sent to the comptroller of the currency, recommending his appointment to the position in case such a step became necessary. The bank has applied for permission to reopen, which been refused, except under the same conditions as those imposed on the Southern California.' Mr. Plater, when seen a said: to ship HERALD would has been reporter, offered me, yesterday 'No and member- think by I know of it if such 8 thing were contemnlated

15. July 7, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, July 7, 1893

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play a part in the selection of the Speaker. The announcement that there is a possibility that Bland may be replaced as chairman of the Committee of Coinage, Weights and Measures has them to renewed efforts. Stories of an attempted combination between the free silver advocates and the Populists to place a candidate for the speakership in the field unless they have an assurance from Crisp that Bland will be retained at the head f"the committee are floating about. but are not generally credited, for, though it is openly said by some that Bland will not again be chairman of the committee, there are no facts that would warrant such an assertion. Crisp has not even intimated such a thing. Among the more conservative the impression is that Bland will lead the committee. This would not, however, indicate that the entire committee will remain. It is known that Crisp has made absolutely no pledges one way or the other. Senator Harris, President pro tem. of the Senate, says there will be filibustering in the Senate against the bill to rapeal the Sherman law. Comptroller Eckels states that from information given out in his office yesterday he directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. Mex., through a mistake. The name of the failed bank is the Albuquerque (N. Mex.) National Bank. Five national banks failed yesterday and this morning, as reported to Comptroller Eckels. They were: The American National Bank of Paeblo, Colo.; Central National Bank of Pueblo, Colo.; Puget Sound National Bank at Everett, Wash.; National Bank of Ashland, Ashland, Nebr., and the First National Bank of Winston, N. C. Comptroller Ecke's has directed Examiner Brown to assume charge of the two above-named failed banks at Pueblo, Examiner Horine of the failed Ashland Bank, Examiner Cleary of the failed Everett Bank and Examiner Carscadon of theifailed Winston Bank. The Comptroller of the Currency has been informed that the First National Bank of Los Angeles and the Southern California Bank of the same place, both of which suspended recently, will open their doors again for business within a few days. The Comptroller has also been informed that the First National Bank of San Diego, which reopened for business yesterday, has received deposits to the amount of $25,000, as against withdrawals to the amount of $8000. This is regarded as evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. The gold in the treasury now amounts to $96,778,943.

16. July 7, 1893 The Herald Los Angeles, CA

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ties of the Fourth, the Times has been trying to lie itself into line again. It has half admitted its roorbacks and without contrition desires again to stand in line with a community which it has tried to wreck. There is a difference between the Times as a liar and the celebrated Baron Munchausen, and it is altogether in favor of the Baron. That distinguished nobleman sometimes told stories that were not within the lines of ordinary probability. But when, observing the countenances of his auditors, he saw some signs of incredulity, he always placed his hand on the hilt of his sword, with the remark that he had been very careful to keep his narratives within the bounds of truth, and if any gentleman doubted his statements he was ready to fight him at any time or place, or with any weapons. Our esteemed contemporary differs from Baron Munchausen in every respect, and most remarkably in that it has swallowed the receivership story for the First National bank, and has practically admitted that it told a lie when it said that the Controller of the Currency, in advance of the receipt of Examiner Wightman's report, insisted that the depositors of the Southern California should unite in a petition for the resumption of that bank. Having eaten its leek, and laboriously denied everything that it asserted, we suppose that we can leave our esteemed contemporary to the universal contempt of a community which it has unsuccessfully tried to wreck.

17. July 11, 1893 The Morning Call San Francisco, CA

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OPENED THEIR DOORS. Two of the Suspended Los Angeles Banks Resume Business. Los ANGELES, July 10.-The Southern California National Bank and the University Bank opened their doors this morning. It was expected that the Southern California Bank would open, but the opening of the University Bank was something of a surprise, though they were in condition to open several days ago. The First National Bank is still closed and is only waiting for orders from Comptroller Eckels to follow the example of the Southern California. Only two banks now remain closed of the six that closed two weeks ago. The City Bank is in the hands of the receiver and will not reopen. The First National Bank felt the rush the worst, having nearly a million dollars withdrawn. But the First National has many wealthy stockholders and friends and will be in its old-time vigor as soon as it opens.

18. July 16, 1893 The Anaconda Standard Anaconda, MT

Article from The Anaconda Standard, July 16, 1893

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Leys, The Jeweler, OWSLEY BLOCK. PEOPLE AND PLACES. CHICAGO. July 15.-There were six deaths from sunstroke in this city yesterday and a dosen serious cases of prostration. Two deaths from sunstroke so far to-day. WASHINGTON. July 15.-It is announced this morning that the treasury yesterday bought 110,000 ounces of silver at 721/3. The amount offered was not made public. The total purchases this month are 868,000 ounces. Los ANGELES, Cal., July 15.-The First National bank opened to-day. The deposits exceeded the withdrawals by about $225,000. All those who hold checks against the bank deposited them instead of drawing the money. CINCINNATI, July 15.-On application of the stockholders a receiver has been an pointed. for the John Kaufman brewery, owing to the inability to raise $60,000 fall. ing due on Aug. 1. It is claimed that the assets are $600,000, and the liabilities $150,000. VALETTA, July 15.-The British battleship Inflexible has been ordered to proceed immediately to Alexandria, Egypt. The reason for the hurried order is not definitely known, but It is rumored to be owing to the disturbances which have broken out in Alexandria. NEW YORK, July 15.-The sub-treasury to-day paid into the clearing house in settlement of its balances, $500,000 in gold coin. This is the first time that this has been done since 1892. Silver was weaker at the stock exchange, certificates declining to 73. Commercial bar silver, however, advanced to 721/4. SAN FRANCISCO, July Native advices from Canton report a serious conflict with pirates in Chinese waters on May 30. Three gunboats, escorting two merchant junks to Cauton. were attacked by 600 pirates and, after a desperate fight in which 60 of the government men were killed, the pirates got away with the booty. INDIANAPOLIS, Ind., July 15.-The Baptist Young People's convention continued to-day with swelteringly hot weather. The forenoon session was devoted to the reports of committees on miscellaneous business. followed by all open parliament on the subject of "Conquest Meeting" and a mass workers conference. PORTLAND, Ore., July 15. -William Dunbar. manager of the Merchants Transportation company, was arrested to-day on an indictment for smuggling opium into the United States. He was afterwards released under $5,000 bonds. The indictment contains five counts. SAN FRANCISCO, July 15.-A meeting of prominent silver men of the state was held last night. Resolutions were adopted favoring the restoration of silver to the position it occupied as money previous to the demonetization of 1873. Another meeting will be held next week for the purpose of electing delegates to the silver convention at Chicago.

19. July 20, 1893 Barton County Democrat Great Bend, KS

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preaged themselves to go out and thus support the Kansas strikers. SEVENTY-FIVE hussars in the garrison of Posen, Germany, have been suddenly taken ill. A diagnosis had not been made, but cholera was feared. THE biggest mill in Pittsburgh, Pa., has signed both the iron and steel wage scale of the Amalgamated association. PRELIMINARY work to the opening of the Cherokee strip is well under way. ALBERT FIXTER, who was digging a well near Grand Detour, Ill., when down thirty feet had the earth cave down on him. After being buried eight hours he was rescued alive. A flagstone had lodged above his head and supported the dirt. THE Alton railroad has arranged to take all its employes and their families to the world's fair in relays of train loads. THE Michigan board of health and the Duluth, South Shore & Atlantic are at war over the road's refusal to comply with sanitary regulations. STURGIS T. DICK, a banker of Meadville, Pa., committed suicide while there was a run on his bank. CLEARING house returns for the week ended July 13 showed an average decrease of 12.5 compared with the corresponding week of last year. In New York the decrease was 11.2; outside, 14.2. PRESIDENT WARNER MILLER, of the Nicaraguan Canal Co., denies the report that work has been suspended for lack of funds. Two men who were engaged in a fight on the New Haven railroad were run over and instantly killed by an express train. BUSH & TABOR, of the Brown Palace hotel and the Hotel Metropole, Denver, Col., have assigned. Assets, $2,220,000; liabilities, $600,000. THERE was a tornado at Stillwater and other parts of Minnesota on the 14th. Two men were killed and several injured. THE world's fair directors by a decisive vote decided that the fair will no longer be kept open on Sundays. P. J. GALLAGHER, whose testimony in the Homestead poisoning case sent Hugh Dempsey to the penitentiary, now says that his story was untrue. THE financial situation in New York city and throughout the east is reported to be improving daily. TWENTY-FIVE hundred pensioners have already been suspended since Hoke Smith's famous order went into effect. SECRETARY HERBERT has authorized the preliminary acceptance of the cruiser Detroit. THE Buckeye Cycle Co., of Cincinnati, failed. Assets, $81,000; liabilities, $50,000. ONE death from yellow fever occurred on board a vessel in New York harbor. The vessel was lately from Cienfuegos. THE St. Louis Lumber Co. has assigned. Assets, $40,000; liabilities about the same. FIRE destroyed 1,000,000 feet of lumber in Taber & Co.'s yards, at Dubuque, Ia. Loss, $25,000; fully insured. THE long lockout of the lumbershov< ers at Tonawanda, N. Y., has at last been broken and the men will return to work as individuals. ALOES A. LOUP and wife, of St. John Baptist parish, La., were taken from their home and horribly whipped by white caps. Both were fearfully lacerated. ALEXANDER McCook, brigadier-general of the new military department of Colorado, Utah, Arizona and New Mexico, has arrived at Denver for the purpose of establishing the headquarters of the department. AT Baltimore application was made for a receiver of the Equitable League of America, a seven year term order, and an injunction to restrain officers from collecting assessments was granted and hearing set for September 5. COMPTROLLER OF THE CURRENCY ECKELS has authorized the First national bank, of Los Angeles, Cal., the National Bank of Commerce, of Provo, U.T., and the Second national bank, of Ashland, Ky., to resume business. All these banks have resumed with plenty of money, none of which was borrowed, but obtained by the collection of amounts due on notes or supplied by the directors.

20. July 21, 1893 The Iola Register Iola, KS

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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. A STATEMENT shows that the net gold in the treasury at the end of June, last, was $95,485,413, which was more than the total at the end of either of the two months preceding. In the ten days from June 30 to July 10, the gold holdings increased from $95,485,413, to $97,286,677, and the tables show a slow, but steady increase from June 10 last, when the net gold stood at $90,722,958, the lowest point touched in many years. CONGRESSMAN WILSON, of West Virginia, gives it as his opinion that there will be no recess after congress meets in extra session. THE wife of ex-Senator Conger died recently in Washington, where Mr. Conger has been residing since his retirement from the senate. POSTMASTER-GENERAL BISSELL has decided to do away with the different sizes of postal cards and to have them of uniform size in future. SECRETARY HERBERT has accepted the resignation, because of ill health, of Com. Wilson, as chief constructor of the navy, and appointed Constructor Philip Hichborn to succeed him. THE comptroller of the currency has issued a call for a report on the condition of national banks at the close of business July 12. This, the comptroller says, is one of the regular five annual calls. IT is practically certain that the president will be allowed to dictate who shall be chairman of the ways and means committee and that it will not be Springer. PRELIMINARY work to the opening of the Cherokee strip is well under way. THE gold reserve in the treasury has 1 increased $206,000 and now stands at $98,093,141. But on the other hand the TO currency has decreased from $27,353,881 to $26,904,780 in the same time. t THE chief of the bureau of statistics 1 reports that the total value of the exports of beef and hog products from the United States during the month of I June, 1893, was $10,098,837. he POSTMASTER-GENERAL BISSELL has decided to abandon three sizes of the f postal cards now in use. REPRESENTATIVE FITHIAN will intro0 duce his free ship bill again at the next session of congress. f TWENTY-FIVE hundred pensioners o have already been suspended since Hoke Smith's famous order went into r effect. J SECRETARY HERBERT has authorized a the preliminary acceptance of the n cruiser Detroit. V COMPTROLLER OF THE CURRENCY c ECKELS has authorized the First nao tional bank of Los Angeles, Cal., the National Bank of Commerce, of Provo, t U.T., and the Second national bank, of N Ashland, Ky., to resume business. All en these banks have resumed with plenty of morley, none of which was bort rowed, but obtained by the collection C of amounts due on notes or supplied by k the directors. t

21. July 22, 1893 Baxter Springs News Baxter Springs, KS

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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. THE gold reserve in the treasury has increased $206,000 and now stands at $98,093,141. But on the other hand the currency has decreased from $27,358,881 to $26,904,780 in the same time. THE chief of the bureau of statistics reports that the total value of the exports of beef and hog products from the United States during the month of June, 1893, was $10,098,837. POSTMASTER-GENERAL BISSELL has decided to abandon three sizes of the postal cards now in use. REPRESENTATIVE FITHIAN will introduce his free ship bill again at the next session of congress. TWENTY-FIVE hundred pensioners have already been suspended since Hoke Smith's famous order went into effect. SECRETARY HERBERT has authorized the preliminary acceptance of the cruiser Detroit. COMPTROLLER OF THE CURRENCY ECKELS has authorized the First national bank of Los Angeles, Cal., the National Bank of Commerce, of Provo. U.T., and the Second national bank. of Ashland, Ky., to resume business. All these banks have resumed with plenty of money, none of which was borrowed, but obtained by the collection of amounts due on notes or supplied by the directors. SPECIAL INSPECTOR SWINFORD declares that the Cherokee strip will be opened to settlement not later than September 10. SENATOR TELLER, of Colorado, declares that it is the veriest rot to ascribe the present financial stringency to the workings of the Sherman law. THERE is a fund of $13,000,000, amassed by sales of cotton seized during the late war, lying idle at Washington. AN order has been issued by the war department increasing the number of honor graduates from the Leavenworth military school from three to five. THE decision of the government that persons who were on the Cherokee strip since March 2. 1889, have forfeited all claims to right of settlement will stir up much trouble.

22. July 28, 1893 The Durham Daily Globe Durham, NC

Article from The Durham Daily Globe, July 28, 1893

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IN THESE days of suspensions and failures it is gratifying to note that many of them are due only to temporary embar rassments and that many of the reputed bursted banks are over their trouble and are again doing business. Among those which have re opened during the last few days are: Gate City National Bank, At lanta, Ga.: First National Bank, Los Angeles, Cal.; First National Bank, San Diego, Cal.: First National Bank, Santa Anna, Cal; First National Bank, San Bernardino, Cal: the Southern California National Bank, Los Angeles, Cal: Merchants' National Bank, Fort Worth, Tex.; Second National Bank, Ashland, Ky.; Capital National Bank, Indianapolis, Ind: First National Bank, Palouse City, Wash; Washington National Bank, Spokane Falls, Wash; National Bank of Commerce, Provo City, Utah, and First National Bank, Cisco, Texas.

23. July 29, 1893 New-York Tribune New York, NY

Article from New-York Tribune, July 29, 1893

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It is to be observed that in twenty-one States and Territories there have been no !ailures of National banks, viz: In Alaska, Arizona. Arkansas, Connecticut. Delaware, District of Columbia, Idabo, Indian Territory, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New-Jersey, Pennsylvania. Rhode Island, South Carolina, Vermont, Virginia and West Virginia. It is further worthy of note that no National banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, Buffalo, Cincinnati. St. Louis, New-Orleans, San Francisco, Minneapolis, St. Pan! and numbers of other great commercial centres: and that but one has closed in New-York, two in Chicago. and one In Milwankee. The cause of the failures in NewYork and Chicago was due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks failed were robbed by officials who are now under arrest. The following National banks have been authorIzed by the Controller of the Currency to resume business: Gate City National Bank, Atlanta, Ga.: First National Bank. Los Angeles, Cal.: First National Bank, San Diego, Cal.: First National Bank, Santa Ana, Cal.: First National Bank, San Bernardino, Cal.: Southern California National Bank, Los Angeles, Cal.: Merchants' National Bank. Fort Worth, Tex.: Second National Bank, Ashland, Ky.: Capital National Bank, Indianapolis.: First National Bank, Palouse City, Wash.: Washington National Bank, Spokane Falls, Wash.: National Bank of Commerce. Provo City, Utab: First National Bank. Cisco, Texas: Missouri National Bank, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent, and only closed through an unwarranted lack of confidence in them, causing disastrous runs. Resume: Number now in operation, 3,785: number failed since January 1, 1893. 105; number reopened, 14: number In hands of receivers, 33: number In hands of Bank Examiners, with application to Controller for resumption, 58.