National Bank - Los Angeles, CA

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 4096
Charter Number: 4096
Start Date: June 28, 1893
Location: Los Angeles, California (34.052, -118.244)

Metadata

Model: gpt-5-mini
Short Digest: b1dc6926

Response Measures

Accommodated withdrawals

Description

Newspapers in late June 1893 report the National Bank (Los Angeles) closed its doors after runs; state commissioners and local editorials described the runs as causeless/panicky. Subsequent Los Angeles Herald articles (Jan 1894) describe the National Bank (National Bank of California in copy) as having withstood a three-days' run, paid coin to depositors, and continuing business — indicating reopening. I therefore classify as a run that prompted a temporary suspension followed by reopening. OCR errors in Article 1 corrected (AnIt geles -> Angeles).

Events (5)

1. August 21, 1889 Chartered

Source: historical_nic

2. June 28, 1893 Run

Cause: Rumor Or Misinformation
Cause Details: A panicky, causeless run according to contemporaneous accounts and the U.S. bank commissioner; runs described as senseless and not driven by insolvency.
Measures: Paid depositors in coin during the three-days' run; maintained over twice legal reserve after disturbance.
Newspaper Excerpt: National Bank AnIt geles, closed its doors ... will undoubtedly resume a short time.
Source: newspapers

3. June 28, 1893 Suspension

Cause: Rumor Or Misinformation
Cause Details: Temporary suspension triggered by depositor panic/runs judged 'causeless' by officials; isolated from other banking centers exacerbated the run risk.
Newspaper Excerpt: National Bank ... closed its doors The Wash., First business of Monday. Port in will undoubtedly resume a short time.
Source: newspapers

4. July 1, 1893* Reopening

Newspaper Excerpt: will undoubtedly resume a short time. (and later) paid in coin every depositor who called for his money, and at the end of the disturbance had on hand more than twice the legal reserve, and that without having called in any of its loans.
Source: newspapers

5. May 26, 1917 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (4)

1. June 28, 1893 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, June 28, 1893

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Article Text

NEWS NUGGETS. Brought by the Wires From the North, East. South and West. Rennekamp Bros., manufactures of furniture, Cincinnati, assigned Tuesday. Assets, $100,000; liabilities, $40,000. National Bank AnIt geles, closed its doors The Wash., First business of Monday. Port in will undoubtedly resume a short time. The wreck of the schooner Union, in the inner at was reharbor Edgartown, United Mass., States engimoved Tuesday by the neer corps. Thirty-eight of the leading business houses of Chicago have signed a telegram to President Cleveland, urging the repeal of the Sherman silver bill. In the West Newton tennis tournament Tuesday Malcolum Chase of Providence beat W. A. Larned. Cornell. 2-6, 6-1, 6-3. Hobart beat Hovey, 4,6, 6-4, 6-4. The Snyder Bros. Lime and Stone Co. of Manitou, Col., made an assignment Monday. Their liabilities are $35,000; assets, $100,000. Stringency of the money market is the cause. G. Gump, dealers in art goods, San have assigned. Francisco, S. Their $100,000. liabilities at $140,000; assets, is attributed to The are placed failure the stringency in the money market. Fuel operators in with The Illinois mining. Company, headquaters heavy in Chicajudgement Total $60,000; 000. go, confessed liabilities, Tuesday assets for $28, will hardly equal liabilities. of the the & Maine railroad Boston At the meeting Tuesday, directors at of Boston, Frank Jones was unanimously elected president and the resignation of Vice-President Niver was accepted. A dispatch from Moorehead, Minn., says entered the Merchants' Bank at and a loaded revolver, up a back that noon, a by Monday, man holding picked the employes bundle of $2000 and departed. National Bank closed its doors The Second Tuesday. of It Ashland, is solbut was forced to of its to realize on paper. vent, Ky. inability suspend good because Depositors will get their money. The pardoned Anarchists arrived at Monday evening. They left the street to and went demonstration train Chicago, at Twenty-third quietly avoid to their a homes. On the way up from Joliet the men announced their intention to eschew anarchy for ever. John Berry, the first of the cow-boy from Chadron, Neb. mounted on his reached the at 9 30 A. M., racers trance pony, Ponon, Tuesday. World's Fair Monday He left enIll., at 9.30 o'clock and made the last 150 night, Freeport, hours. miles of the long race in just 24 from Manilla state a of rebelious natives on Advices 6000 the that island force of Mindanao, one of the Phillipine group, recently made an attack on the Spanish garrison at Fort Mumungan, were repulsed after a stubborn contest. The natives lost 87 killed. 300 wounded. The Spanish loss if any not stated. Louis Snider's Sons of Cincinnati. Monmade an assignment of their four big mills at Hamilton, their in Butler and their great day paper county, real warehouses estate less in Cincinnati. Their liabilities are than $300,000; assets over $1,000,000. The assignment is due to inability to borrow $7000 from the banks. For the first time in the history of American Methodism, so far as known, a woman has been admitted to membership in a conThe Nova Scotia conference in at Canso. has has a legal right to sit on a ference. Dauphin session decided that of perfect Mary that equality with the male members body, and she will take her seat. Albert, belonging to the Eng lish to deep sea The mission ship fishermen, She arrived will at St. John's N. F., Monday. cruise the Labrador coast summer affording religious months, along doctors, in and the mediShe has three two for built on the cal hospitals assistance. coast, by the and Allan two trained nurses are coming out line steamer to assist them. The other doctor will remain on the ship. Chicago Tribune Tuesday, comon the release of Anarchists says It was menting The generally the Chicago understood that were to be out the election. event of they Altgeld's let The in Anarthat Altgeld was an birth but an alien chists alien believed by by not tempera- merely right. ment and sympathies, and they were He has apparently not a drop of true American blood in his veins. He like an American nor feel He did not approve like does one. not reason of Gary, the result and of the trial held before Judge for that reason the Anarchists and half baked Americans supported him at the The polls whenever they had an opportunity. voted for him for judge and for governor, and they have their reward.

2. June 30, 1893 The Herald Los Angeles, CA

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Article Text

there. A few years since, at the period of the bursting of the greatest realestate hunin history, and when individual business men all banks went successfully dreds boom the of almost through failed, that time. Not one any sign distrese. It was the the of wild portion showed wonder of and admiration of a large that they 80 astutely affaire as to avoid in country their financial known managed danger. These important facts are well that Chicago; and now the wonder is some of these same banks have suspended. As our Chicago contemporary says, we went through the crieis foilowing the collapse of the great real estate boom of 1886-87 without a eingle bank failure. In fact, that great upheaval was not followed by any business failures. One great Pasadena real estate speculator went under, and that was all. Of course there were may adjustments of business transactions, but with the exception of Mr. Webster of Pasadena there was not a single public disaster. editorial writer in the Chicago has been at great pains on the of journal himself The thoroughly condition to post things here. He continues: All that is known at this distance of of general business in Los is justification for these were or At Angeles the condition suspensions cruelly last saying forced advices that four firet close doors was the wholly had to unnecessary. temporarily enccumbed. City atten- bank, The conducted by Mr. Childress, an tive. and also a man of who would businees, upright deserve scholarly the general in any common weight is his that all will be More confidence than right community. due with to his bank a short time. The bank local standing, statement has in fair University in and peril that its did not deem it is evidenced the fact that its is now managere Widney, by with his preeident, family on what was be vieit to the Judge in leieurely Chicago World's intended National Colum- to The Firet of out drawn out in a closed bian vaults exposition. after was $600,000 $800,000 panic. in ite Mr. one of the oldest conbankers in that Mr. Mayberry, servative dent, Elliott, and and city, most of is presi- San a wealthy man holder of bank shares on is the principal of Jose. cific coast, largest very capitalist and the the PaA in Chicago from the this yeeterday bank. private dispatch is Mr. only received Elliott, for few and wholly in of the banks says that run days, on all suspension when consequence Los help Angeles could not be immediately had. is ieolated from other banking centere, San Francisco being 500 miles away and 2000 miles. was, bly of unChicago the enspending this As it bank was proba- been nad a timely courage when the at the Anshown. crowd necessary rushed For doors panic the etricken Los geles ehowed a deposits, bravely National its president bank, himself Major demanding and Bonebrake, made their that to acinstead of moneys. cepted speech California appears have and The the been Southern National East Side bank were in another class, but cannot have made very bad failuree. We yesterday mentioned the fact that United States Bank Commissioner Wightman, in a conversation with one of the editors of this journal, stated that he found the suspended institutions to be in a most satisfactory condition; and that the runs, by all ordinary standards of banking, were causeless and senselees. A panic is governed by no laws, and the fact that people become irresponsible in no whit impugns the rightulstanding of 8 bank when an official examination shall have established its entire responsibility. We cannot forbear quoting the concluding lines of the article of our Chicago contemporary. They are gospel verity, and here they are: Los Angeles was never growing 80 rapidly as it is now, general the city and never the business of was 80 good. Bank clenringe, reported from week to week, have been 51 per cent greater the past eix months than ever before, and on deposit in the banks of Southern California has been in that time onethird head of the population the Hence it must country. more than money in any per other section be concluded of that LOB were wave that and Angelee the present only caused touched banking by Chicago the troubles panicky of passed westward. These troubles do not in the least prove that there is added reason for unueual anxiety in financial circles. It is pleasant to know that we arerapidly rehabilitating our financial affairs. For the reason 80 clearly stated in the foregoing, this city and section will enffer no gerious drawback from a financial cyclone whose fury was confined to a few hours. Our recuperative powers, as shown in the recent crisis, are the best guarantee of our financial vitality.

3. January 1, 1894 The Herald Los Angeles, CA

Article from The Herald, January 1, 1894

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NATIONAL BANK OF CALIFORNIA. One of the Solid Moneyed Institutions of Los Angeles. Its Conservative Management Deinonstrated During the Flurry. An Executive Committee Which Gives Close Attention to Details. Depositors' Interests Carefully Guarded. While one of the youngest of the banking institutions of the city, yet it is one of the most solid and substantial. Its officers and directors are men of large experience and well known ability and their careful attention to the details of the business and courteay to their patrons has built upa business of which they justly feel proud. Their conservative management was well demonstrated during the last financial furry that visited this and other cities on this coast by the fact that they withstood the shock of a three-days' run, paying in coin every depositor who called for his money, and at the end of the disturbance had on hand more than twice the legal reserve, and that without having called in any of its loans. It has been among the first to grant assistance to other banks, and more than one institution owee its life and present exisence to the timely aid furnished them. Its executive committee gives close attention to the details of its business and examines particularly all paper offered for discount, requiring the best of security in all cases, preferring their fuods should remain idle rather than make any questionable loans. To those requiring the services of an institution of this kind, the Bank of California offers its services, believing that stability, careful attention to the wants of their customers and courteous treatment to all will merit a share of the business of this community. The president, J. M.C. Marble, is accredited with being one of Los Angeles' shrewdest business men. O. H. Churchill is its vice-president, a most careful and active man. W. L. Graves, second vice-president, a former Fresno banker, who has been able to retire from active business, is a selfmade man, and A. Hadley, the cashier, is a gentleman in whom every citizen of Los Angeles places trust and confidence. He came to Los Angeles after 25 years' experience in the National Bank of Lawrence, Kan., having left there to come to Los Angeles on account of his health.

4. January 12, 1894 The Herald Los Angeles, CA

Article from The Herald, January 12, 1894

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Article Text

National Bank of California. The annual election of the National Bank of California was held yesterday. The board of directoas elected for the ensuing year, are: O. H. Churchill, o. T. Johnson, John Wolfekill, W. L. Graves, E. F. G. Klokke, George Irwin, M. H. Sherman, W. S. De Van, N. W. Stowell, A. Hadley, T. E. Newlin, John M. C. Marble and John E. Marble. The shareholders felt much gratification in the fact that the bank had passed through successfully the year, paying every demand in coin, during an unusual panic season and continuing its dividends to shareholders every month, and commencing the new year with more customers than ever in its history. The public is likely to appreciate such condition, and we can see no reason why this institution should not continue to grow in greater power and usefulness.