856. Southern California National Bank (Los Angeles, CA)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 3538
Charter Number: 3538
Start Date: June 21, 1893
Location: Los Angeles, California (34.052, -118.244)

Metadata

Model: gpt-5-mini
Short Digest: 68c89cb1

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Other: Bank received Comptroller/examiner approval to re-open; depositors and local businesses provided support noted in articles.

Description

Multiple contemporaneous Los Angeles articles describe heavy withdrawals (runs) on June 21, 1893; the bank then closed/temporarily suspended on June 21 by board decision owing to withdrawals and stringency; the Comptroller permitted reopening and the bank reopened in early July (reported July 10, 1893). Reported cash paid out ranged from $100,000 to $400,000 in different accounts.

Events (5)

1. July 22, 1886 Chartered

Source: historical_nic

2. June 21, 1893 Run

Cause: Macro News
Cause Details: General nationwide panic/stringency and public nervousness led depositors to withdraw funds (articles describe a general panicky condition nationwide and 'senseless run').
Measures: Opened extra paying windows/tellers and paid out cash to depositors (reports of $100,000 to $400,000 paid out); later restricted entry and then closed doors by board decision.
Newspaper Excerpt: we had paid out close onto $400,000 ... the run was apparently a thing of the past
Source: newspapers

3. June 21, 1893 Suspension

Cause: Macro News
Cause Details: Board temporarily closed the bank due to heavy withdrawals and stringency of the money market; closure presented as precautionary and temporary (solvent but needed time to receive funds).
Newspaper Excerpt: a notice on the doors ... 'our board of directors has decided to close their doors temporarily. Depositors need have no fear about their deposits.'
Source: newspapers

4. July 10, 1893 Reopening

Newspaper Excerpt: The Southern California National Bank ... opened its doors this morning. ... Controller Eckels has authorized the Southern California National Bank of Los Angeles, Cal., to reopen its doors for business.
Source: newspapers

5. December 31, 1928 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (22)

1. June 21, 1893 The Herald Los Angeles, CA

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when they reached the teller's window received hia coin without delay. To expedite matters somewhat two paying windows were opened and for the last two hours a double row of depositore walked up and received their cash. Unobeerved through all the eagerness of the seekers after coin. came depositors, they were little thought of yesterday, yet they came all the same. All the business men who have dealings with the bank sent in their deposite as usual and that one thing beyond all others, proves that the solvency and stability of the bank is assured. Promptly at 3 o clock the doors were closed, those depositors who were inside the bank at the time being allowed to remain and get their money. After that, entrance could only be secured through the side door, and only then after H searching inquiry from an officer in charge. Nevertheless, about 10 minutes after 3 o'clock a business man pushed a his way in and in the presence of HERALD reporter made a deposit. MAJOR BONEBRAKE TALKS. Maj. George H. Bonebrake, the president, said to a HERALD reporter, after closing hours yesterday, that he had nothing to say, DO statement to make, and he could not in the least account for the run beyond the general panicky con. dition which at present prevailed over the whole country. "There is, one thing, however," said he, "you can state that this bank is solvent; that it has enough money to pay two dollars for every one on deposit, and this run can go on as long as it wants to, all demands will be met." THE FIRST NATIONAL, The excitement spread to the patrons ef the First National and the officials paid out money as fast as possible. Three extra paying tellers were employed, and no hesitation was shown in meeting any and all demands. Mr. J. M. Eiliott, president of the First National bank, was extremely fatigued from the exertions of the day. He did not at first seem to care to make any statement, but finally said: "You can state that there have been a number of withdrawals of deposits, but the institution has met every one promptly, even after the hour of closing. As to the condition of the other banks I can not state. What means, if any, to be provided to meet the emergency will rest with the action of the clearance house." SOUTHERN CALIFORNIA NATIONAL. During the morning the Southern California National bank, in the Nadeau block, corner of First and Spring streets, transacted much the same business as usual. There was not much of a crowd in the bank at any one time, and it louied as if there would be nothing much to chronicle out of the usual in its transactions. In the afternoon, however, there was a change, and before the bank had closed $100,000 in coin hak been paid out over the counter to depositors. President Breed said to a reporter that the condition of the bank was first-rate, and its resources were weil in hand. He hoped there would be more reason on the part of the depositors in the banks today than yesterday, believing that none of them could stand the steady drain on their resources that would follow a general run. It could not be expected that banks kept all their deposits on hand, and they would be obliged to have time to meet an extraordinasy demand. He thought, however, that if all the banks should close it would be only a few days before they would resume. He did not believe that, even if they should close, the depositors would lose a dollar, with the exception, possibly, of one or two. "Referring to his own bank he called the attention to the stockholdera and their resources, mentioning David Remick, who is worth at least $1,000,000; W. H. Avery, $500,000; John Bryeon, ar., S. W. Little, Erastus Wells of St. Louis, worth several millions; W. H.

2. June 22, 1893 Wheeling Register Wheeling, WV

Article from Wheeling Register, June 22, 1893

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CONCERNING BUSINESS AND FINANCE. NEWARK, N. J June - -Judge Andrew Kirkpatrick receiver of the Domestic Manufacturing Company and Domestic Machine Company, has received a report of the assets and liabilities of the two concerns. The report is as follows: Domestic Manufacturing Company assets $666,000; liabilities (including capital stock of $200,000:) $268,362; samples $397,652; contingent liabilities per endorsement $505,059. Domestic Sewing Machine Company, assets $2.642,379; liabilities (including capital $1,500,000, preferred stock $141,000;) $3,443,913; deficiency $801,534. The company has contingent liabilities per endorsements of $698,613. WASHINGTON, D. C., June 21. - -The Sec. retary of the Treasury has authorized the Treasurer of the United States to anticipate the payment of July interest. The public announcement will probably be made to-night or to-morrow and the checks will be sent out on Monday. Los ANGELES, CALA., June 21. -The Southern California National bank and the Los Angeles National bank here closed their doors this morning. PORTSMOUTH, O., June21.-The - Citizens' Savings Bank closed its doors this morning. No statement of its condition was given except that President Overturf hoped to be able soon to overcome the difficulties now encountered. CHICAGO, June 21. -The Ellsworth Packing and Provision Company made an rssignment to-day. ROCHESTER, N. Y., June 21.-Job E. Hodges, assignee of H. H. Warner, filed his schedule of assets and liabilities to-day. The total indebtedness is shown to be $1.046,369, of which $652,027 is secured and $393,341 unsecured. Of the secured liabilities $375,000 is indebtedness to the H. H. Warner Company, Limited. The contingent liabilities amount to $469,108. The nominal value of the assets is $2,573,022.

3. 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.

4. June 22, 1893 The Times Richmond, VA

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California Bank Suspends. LOS ANGELES, CAL., June 21.-The Southern California National Bank and the Los Angeles National Bank here closed its doors this morning

5. June 22, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 22, 1893

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Los Angeles Institutions Go Down. SAN DIEGO HAS A STIFF RUN. Public Confidence Is Being Restored and It Is Thought That the Trouble Is Over. Special to THE MORNING CALL Los ANGELES, June 21 The Southern Los California National Bank and the closed Angeles National Bank here have their doors. The extra edition of the Express to-day banks contains the following: Four They more were the have closed their doors. California. the First National, Southern Bank. Bank and East Side Broadway the hour opening the banks of Long before assembled At the corner a large crowd and Spring streets. and in the long First depositors in front of the Los geles line of National and Southern California National. Those in the line were mostly laboring and suburban residents. At 10o'clock doors men sharp a notice was placed upon the the Southern California to the effect of that the bank would not open to-day. were turned to the Los Angeles National, Alleyes which is situated on the opposite their The people drew out corner. watches and took in the situation with bated breath Major Bonebrake then addressed the to crowd and the depositors commenced file up to the paying teller. Another large crowd was found in front and of the First National and Farmers' Merchants' banks. While there had been all sorts of rumors few upon the streets about the former. majority but the crowd. a large people whom were in curiosity-see doubted for moment that the doors would be open at tue usual hour. The excitement was intense, however, the doors notice was placed upon when of the First National to the effect bank, that to heavy run upon the amounting owing to over $600,000, the bank was closed by order of the board of directors. The following is the notice "NOTICE- First National Bank, Los An- the Cal., June 21, 1893: Owing to the geles, heavy withdrawal of deposits during than last two days, amounting to more its $600,000, this bank is forced to close doors. By order of the directors. ".T. M. ELLIOT, President.' In less than a quarter of an hour the were crowded with excited people, the streets which was followed by a slight run on Farmers' and Merchants' Bank. Chief Glass detailed every man on com- the force on duty, and the crowd was pelled to keep on the move. The general opinion among business men on would have been wise move is the that part it of all the banks to have closed exdoors day or two until the eitement their had abated. As it is, everybody appears to have lost his reason. The East Side Bank also closed its follow- doors "On this morning. The account doors of bore not the being able ing o cash notice: our New York and San Francisco close we are compelled to exchange doors. Depositors will be paid in full." There was no one about the institution, unhence the Express representative was able to gather particulars. one of the State Commis Gerberding. yesterday from Rivarrived here is stopsioners, and San Bernardino. and erside the Westminster. He is now in charge ping at of the suspended State banks-the City and the University. Receiver Otto Brodtbeck took charge deposit of Bank to-day, but the safe business department the City is open and doing right along Commissioner Gerberding says, from a examination of the University the cursory Bank made last night, he found that assets bank owes $140,000 and has $300,000 to pay it with. At the bank it is return stated will be done until the that nothing of President Widney, which is expected about Friday or Saturday. Mr. Gerberding says that "idiotic' not be too strong a term to apply would senseless run OD the banks here now. the they were never in really a better condition. The first local gun in the battle of the in bankers was fired at the City Bank Judge Shaw's court this morning. when in Mrs. Margaret E. Miller, a depositor judgthe defunct institution. was given $91,300. against it in the sum of ment This was immediately followed by the ap. pointment of Otto Brodtbeck as receiver. His bond was fixed at $100,000. The Farmers' and Merchants' people coting the strong pull on their were stand fers, but the rustle of gold and the excited shimof the silver did not deter the throng from mer pushing forward to secure their coin. Every available inch of space was occupied. but inside the rails the busy clerks applismilingly handed out the cash to all and there was no sign of Heilman fear on cants, their countenances. Herman Hellman the expressman: "I. W. said be to here this afternoon with $250,000 will in cold cash, and $500,000 more on theway We are ready for all." The sober sense of the people of this city is gaining the ascendency and the ex- is eitement in regard to the bank flarry rapidly subsiding It is believed that the worst is now over. Many who have withdrawn their money now feel nshamed will precipitancy. and some of them deposit again their to-morrow With very few exceptions those who drew out money were small depositors and in many cases women. Six banks in all have closed temporarily First National Southern Californamely, National, City Bank, Broadway, Uninia and East Side Bank. The latter three versity are small institutions. The First National paid out over half a million in days. The Los Angeles National two Bank is making 25 and 10 per cent payments cash, the balance in ten and sixty days, and claims to have $150,000 to start with to-morrow. excellent impression was created this the afternoon An when I. W. Hellman of Farmer's nd Merchants' Bank a Nevada of San Francisco arrived from the north Bank with half a million dollars for his bank. The savings banks are requiring notices large payments. There has been the no for run on them. Confidence of public serious is shown by the fact that many the are offering to take checks on stores have closed or passbooks in of cash. The banks which banks which have days. closed place expect to resume business in two

6. June 22, 1893 The Herald Los Angeles, CA

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the regular closing time. Major Bonebrake stated yesterday afternoon a short time after 3 o'clock that the bank had paid out close onto $400,000 and they would continue to settle all demands made upon it. Yesterday a large amount of money was received and a still larger one would be received before have banking hours tomorrow, "We not asked assistance from anybody," said he, "and we don't propose to. All demands will be paid that are presented and will be paid by us alone, without drawing on outside help. "Over deposits have been coming in freely from the business men of the city, and one alone, that of $6000 from the Santa Fe road, proves that perfect confidence is felt in the bank." The crowd of depositora which at the opening of the bank crowded its doors increased towards noon until they fully equalled those of yesterday. As the afternoon hours wore away and the closing time approached they dwindled away until when the doors closed only probably 8 dozen were with. in the building, in contrast to the crowd which occupied the same space yesterday. The run was apparently a thing of the past, and the remaining depositore had decided that their money was safer in the institution than their own pockets. THE SOUTHERN CALIFORNIA. Diagonally across the street from the Los Angeles National a notice on the doors of the Southern California National bank appeared shortly before 10 o'clock and attracted instant attention. It read as followe: "Owing to the withdrawal of deposits and the stringency of the money market, our board of directors has decided to close their doors temporarily. Depositors need have no fear about their deposits. The bank has ample assets to pay all deposits in full." Mr. Breed, the president, told a HERALD reporter later in the day that it was decided to close their doors after the run which took place on them Tueeday afternoon. "We paid outover $100,000," said he, "and kept our doors open until 10 minutes after 3 in order to give all a chance. It was decided, however, in consideration of the craze which had taken possession of everyone, that it would be best to close our doors. When the run commenced we had over 50 per cent of our deposits in cash on hand, and that is a better showing than any other bank in the city could have made. We are perfectly solvent and we have plenty of money, the only trouble is that it is in New York, Chicago and San Francisco, and it takes time for it to reach us here. "Los Angelea is too far away from the money centres and that is the reason all the banks have been compelled to close. If we had been granted a little time all would have been met. We have a large amount of money on the way to us and expect in a few days to open again and meet all demands made upon us. It would have been foolish for us to have keptopen while the present insane craze held possession of the depositors." THE BROADWAY BANK. The Broadway bank, on the corner of Sixth and Broadway, also failed to open yesterday morning, and its patrons were surprised by being confronted by the following notice: 'We have closed the bank owing to the fact that we can not pay you all in full at once. Your money is safe, as it is loaned out on good security. We have a wellfounded prospect of obtaining money to enable us to reopen in a day or so. "Our only liabilities are call deposite, $12,490.25. Certificates of deposite, due September, 1893, $10,000; total, $22,490.25. Commercial loans, well secured, $40,679.05; other securities, $26,100.79; total, $66,779 84.' Mr. Warren Gillelen, the president, told a HERALD reporter yesterday afternoon that the depositors themselves were striving to arrange matters in such a shape that the bank would be able to

7. June 22, 1893 The Roanoke Times Roanoke, VA

Article from The Roanoke Times, June 22, 1893

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More Bank Troubles. PORT-MOUTH, Ohio, June 31.- The Citizens Savings Bank assigned to- day 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 the assets over $400,000. Great excitement has spread and runs more or less strong are being made on other banks, viz: The Portsmouth National, Farmers National and First National, and they are taking advantage of the 10 per cent. limit. Little Kanawha Mills are in the hands of a receiver. The failure of the Citizens will embarrass some of the manufacturers here. Los ANGELES, Cal., June 21.-The Southern California National Bank and the Los Angeles National Bank here closed their doors this morning. CINCINNATI, Ohio, June 21.-Th's afternoon Crane & Co., the wealtby East End lumber dealers, assigned to Attorney C. W. Baker. The assets are given as $250,000 and liabilities $150,000.

8. June 27, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, June 27, 1893

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Two of the largest and reputed strongest theatrical troupes in America have gone into the hands of receivers in the past few days "Great prosperity" is no respector of persons. The Cassell Company, the great Eng lish and American publishing concern of New York and London, failed last week. The liabilities are large and the assets cannot be converted into cash at present. WASHINGTON, June 6.-Comproller Eckels to day appointed Robt. M. Ditty receiver of the Citizens' National Bank of Hillsborough, Ohio, and Elisha May, of St. Johnsbury, Vt., an examiner of national banks. FAIRFIELD, III., June 16.-The liabilities of S. Bonham, the banker. who failed yesterday, are in the neighbor hood of $125,008, with assets equal to more than that amount. Iti thought the bank will pay dollar for dollar. E. Bonham's large merchandise store is included in the assignment PORTSMOUTH, Ohio, June 31.-The Citizens' Savings Bank assigned o day to A. F. Halcomb 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. Great excitement has spread and runs, more or less strong, are being made on the other banks, viz: 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' Bank will embarrass some of the manufacturers here. ASHBORO, June 21.-J. A. Wall, a merchant at Sophia, assigned to day, R. R. Ross, trustee. This is the third assignment in Randolph in fifteen years. Los ANGELES, Cal., June 21.-The Southern California National Bank and the Los Angeles National Bank here closed their doors this morning. EUGENE, Oregon, June 20 -The Lane County Bank temporarily suspended to day. It has plenty of property in sight to secure all depositors. CORVALLIS, Oregon, June 20.-The creditors of Hamilton, Job & Co., bankers, who failed a week ago, held a meet ing yesterday. The receiver made a statement showing the total assets to be $195,000. A deduction of $62,000 for doubtful overdrafts and bills receivable leaves available assets of $133,000 The liabilities are $224,000. An assignment has been made for the benefit of the creditors. TOPEKA, Kansas, June 20.-TheState Bank Commissioner yesterday ordered the State Bank of Plainville closed. The capital stock is $50,000, but the amount of liabilities is not obtainable. The officers of the bank say that depositors will be paid in full. PITTSBURG, Pa., June 19.-The Oil Well Supply Company, with assets of $2,500,000 and liabilities of $1,000,000, was totally unable to meet its indebted ness to day, and to prevent forced sales and a waste of property had to seek of the courts. John Eaton, of company, was appresident the aid the pointed receiver by Judge A. Cheson, of the United States Circuit Court. BOSTON, Mass., June 16.-Winkley, Dresser & Co., the Milk street stationers, made an assignment to-day to Francis Doane, a well-known stationer. The liabilities are $150,000 and the assets somewhere in the same neighborhood. PHILADELPHIA, Pa., June 16.-The Reading Rolling Mill Company yesterday made an assignment for the benefit of creditors to Joseph R. Cofrode and Lllis Ames Ballard. BUFFALO, N. Y. June10 6.-The Genesee Oil Works, limited, have made a general assignment. The liabilities of the company are about $300,000. The cause of the assignment was the inability to meet several large notes when they became due or to have them extended. THE EATON, COLE AND BURN-

9. June 28, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 28, 1893

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BANK TROUBLES IN VARIOUS CITIES. Buffalo, June 27 (Special).-The first failure among Buffalo banks, in the present panic, is likely to be the last Considerable anxiety was felt about the situation here before the banks opened this morning, but in not one of them were the withdrawals unusually large. The action of the Buffalo Bankers' Association in offering to issue unlimited clearinghouse loan certificates nipped in the bud the panic started by the failure of the Queen City Bank. The banks here hold combined assets of $30,000,000 and cash resources of $6,000,000. The feeling among business men here to-day is more confident than at any time iu the last three weeks. Mr. Creed, the deputy superintendent of the bank, stated this afternoon that, so far as he has proceeded with his examination of Queen City Bank affairs, he knows of no reason why it should not resume business at an early day. Los Angeles, June 27.-The Broadway Bank opened Its doors this morning. The bank commissioners say the bank ought never to have closed. The University, First National and Southern California National are still closed. They will be opened in a few days. Confidence seems restored and the business outlook is improving Ashland, Ky., June 27.-The Second National Bank of this place closed its doors this morning. It is solvent. but was forced to suspend because of inability to realize on good paper. The depositors will all get their money. Seattle. June 27.-A special from Port Angeles says: "The First National Bank, of this city, closed its doors yesterday morning, after having been open thirty minutes. Two weeks ago the deposits of the bank were $127,000, and it was regarded as one of the safest in the State. From some cause a run began and continued until the deposits, including county funds, amounted to only about $85,000. Against this the bank announced its resources as $142,000. The bank will undoubtedly resume business in a short time.

10. June 30, 1893 Idaho County Free Press Grangeville, ID

Article from Idaho County Free Press, June 30, 1893

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CALIFORNIA FAILURES. The City of the Angels Has a Bad Streak of Luck. Los ANGELES, Cal., June 21.-The Southern California national bank and the Los Angeles national bank 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 exceed $600,000. Bank Examiner Geberding says the run on the banks is senseless, and that they are all fully solvent. One Down at San Diego. SAN DIEGO, Cal., June 21.-Shortly before noon today the Consolidated National & Savings bank of San Diego closed its doors. A statement is issued that the assets are largely in excess of the liabilities. Missouri Bankers Meet. EXCELSIOR SPRINGS, Mo., June 21.The state gathering of bankers is alwaysa notable event here, and the convention which began today will listen to a number of interesting papers on topics of current importance.

11. 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

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

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BANKS. Comptroller Eckels' Information Abont Suspended Institutions. WASHINGTON, July 6.-The comptroller of the currency is informed that the First National bank of Los Angeles, Cal., and the Southern California National bank of the same place, which suspended recently, will open their doors for business again within 8 few days. The comptroller is informed that the First National bank of San Diego, which reopened for business yesterday, 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 Spoliane reopened for business this morning. Comptroller Eckels states that the information given out in his office yesterday that he directed Bank Examiner Wilson to take charge of the First National bank of Albuquerque, N. M., was a mistake. The name of the failed institution, is the Albuquerque National bank. F ve national banks failed yesterday and this morning. as reported to Comptroller Eckels. They were the American National bank of Pueblo, Colo., the Central bank of Pueblo, Colo., the Puget Sound National bank of Everett, Wash., the National Bank of Ashland, of Ashland, Neb., and the First National bank of Winslow, N. C. Comptroller Eckels 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; Examiner Cascadon, of the failed Winslow, N. C., bank. OMAHA, Neb., July 6.-The American Savinga bank has suspended. Deposits, $153,000; assets, $259,000. WATERTOWN, N. Y., July 6.-A run was started on the Jefferson County Savings bank today. The bank continued paying all demanda after closing hours and it is believed the run is over.

13. July 9, 1893 The Herald Los Angeles, CA

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ECKELS' PERMIT COMES. THE SOUTHERN OALIFORNIA NATIONAL BANK TO OPEN. The Comptroller of the Currency Says It Should Now Enjoy the Full Confidence of the People of Los Angeles. In epite of all rumors reported, anonymous "prominent county officials," and other sources of information, the two suspended national banks of the city are being rapidly put in shape, and as stated by the HERALD ever since they closed, win open in a very ehort time. In fact, as stated in the HERALD of Friday, the Southern California National bank will, in all probability, open its doors for business tomorrow, as indicated by the following telegram received yesterday morning by National Bank Examiner Wightman: WASHINGTON, D. C., July 8th. W. B. Wightman: The Southern California National bank having complied with the requirements of this office, you may permit it at once to re-open for business. It now should enjoy the full confidence of the citizens of Los Angeles, who have so anxiously pressed for its re-opening. JAMES H. ECKELS, Comptroller. The same kind of a telegram is expected in a day or two in reference to the First National bank.

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

Article from The Morning Call, July 11, 1893

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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.

15. July 11, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, July 11, 1893

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Other Business Troubles, KANSAS City, Mo.. July 10.-The French Commission Company. doing a grain commission business at No. 201 and 203 New York Life Building 11: this city. at Springfield. Joplin. Cartbage and Nerada in Missouri. and at Fort Scott and Pittsburg, in Kansas, made an assignment this afternoon to Schooling Chapline. The French Commission Company is the oldest and largest straight grain commission firm in Kansas City. It bas been in business twen. ty years. C. D. French ie president, C.P. Moss secretary and J. H. Owens trease urer. The capital was $25,000. The assets are placed at $12,000. Libilities not given. GALVESTON, Tex., July 10.-To-day C.A. Reese was appointed by the District Court receiver of the Galveston Trust Company. The appointment was made upon appliention of the Minneapolis Trust Company, which is receiver of the Northwestern Guaranty Loan Company. The latter in. stitution had invested in Galveston Trust Company about $760,000. which the Galveston Trust Company used in improving a town-iotenterprise near here. CLEVELAND, O., July 10.-The Kennard House, one of the leading hotels of the city, was placed in charge of an assignee this morning. Assets and liabilities will not exceed $25,000. The business will be continued by the assignee, Mr. George H. Sohwan. SALT LAKE, U. T., July 10.-It has been discovered that Oscar E. Hill, cashier of the Commercial National Bank of Ogden. 18 a defaulter to the amount of $65,000. The bank will go into voluntary liquidation. PHILADELPHIA, July 10.-The failure of A. Y. Davidson, stock broker, trading as A. Y. Davidson & Co., was announced on the Stock Exchange this afternoon. WASHINGTON, July 10. - Controller Eckels has authorized the Southern Callforma National Bank of Los Angeles, Cal., to reopen its doors for business. NEW YORK, July 10.-George E. Watson & Co., formshinus of households, failed this morning. Liabilities exceed $175,000.

16. July 11, 1893 The Herald Los Angeles, CA

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TWO OPEN. and The Southern University National. California Shows First Their Day's Business is that Restored. Confidence M. Panic Widney to Led the Causes Outlines Be Must Done. of in the Sunday stated HERALD of the two suspended the national banks, Southern California and their the doors opened University, and business. yesterday as their Both report business concerns the debeen most having satisfactory, the withlargely posits exceeding drawals. At of the close business yesterday of the CaliBreed, Southern President on to fornia National, referring his the that had been cooks, the out and $57,000, checked amount of net for leaving $36,000 yesasked terday on views $21,000, the day. Widney was what were Judge by R. a HERALD M. the financial reporter situation, is panic he. said past,' the late under his and general. danger people of a demon- our strated have been banks safely local "Locally. the "The run that and managed in of have The excess assets liabilities. of has fear banks public insolvent no on. rest ground therefore "The that have learned public on the money banks receive depositors it to in to them implied contract of the and course is At all an not Such ordinario business in all The the total bility. deposits of the States United is the commercial total over while of the States United volume is the and only billions, in all the total banks volume is only about billions. the over money "People deposit and the over have again. a depositors to at their right money on the all and who owe once, it in of up would them, emash every States. United industry "This danger threat the the ening under United in email existence. volume the remedy. been Congress forth putting for three years dating from the To my this publie July 12, efforts of act "The repeal Sherman will and simply give rethan it the the see peal it woret time our the volume "Under of money out and that today every Strike in be the bank would States United for is the total volume closed, hold. they act the not "The does cause Sherman of to goes ahead export pay were debte. not backs be if they could would be not then gold the merwould who would chants buy they price with whatcould gold would accept. our The currency for gold from people at ruinpay foreign commerce and fully realize that these action of our Secand he that retary dethe facts in most Promplete subject with the laying and faeta of and it would of now as will action give money, our ity on free misonly will produce it closed its. doors before folly panie de safe We accomand Blonz

17. July 13, 1893 Grant County Herald Lancaster, WI

Article from Grant County Herald, July 13, 1893

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NEWS ITEMS. For the Week Ending July 11. During a fight at a pienic near Mascoutah, III., twenty-five men were hurt, one fatally. The Washington national bank at Spokane which suspended several weeks ago has resumed. John Lyons and Joseph Bishop were drowned at Stoneboro, Pa., by the capsizing of their boat. Drought in many sections of Europe bids fair to ruin the agriculturists. Fodder is a total failure. Siveter, 9. of and Dr. Thomas years age, one of the oldest physicians in America, died at Salem, In. W. F. Thornton & Son, bankers of Shelbyville, III., failed for $500,000. Assets may reach the liabilities. Meeting accident in a Windsor (Conn.) Mary Media remained food for swamp without Mrs. forty-one days. A severe rainstorm flooded several small towns in Dane county, Wis., and great damage to property resulted. in Oroville, wiped Chinatown out. Cal., was Eight brick stores and thirty other buildings were destroyed. Frank Boyes, a demented farmer near Wauseon. O., cut his wife's throat and killed himself. A daughter escaped. Reports to the state department say American agricultural implements are taking well in England. Trade is increasing. National banks throughout the country have during the last two months increased their circulation nearly $7,000,000. Floating indebtedness of the world's fair corporation has been retired. Money will now be accumulated to retire bonds. The Arkansas state bank of Stattgart, and the Arkansas Farmers' and Traders' bank of Dewitt failed to open their doors. Albert Lewis as shot and killed and Charles Lewis wounded in the climax of a fend with the Yandell family at Princeton, Ky. The world's 2-mile race record (4:48 k/) for trotters was broken at Salem, Ore. by the stallion Blondie, who made the distance in 4:48. It was said that conductors and engineers on the Queen & Crescent railroad had robbed the company of goods valued at $40,000. The Southern California national bank and University bank at Los Angeles, Cal., which failed recently, have resumed business. President Moshier, of the Capital national bank of Lincoln. Neb., was sentenced to five years in prison for wreeking the bank. The burning of the new school building at Monterey, Cal., destroyed priceless papers relating to the many early history of California. The bank at Lesueur, Minn., the Northern national at Big Rapids, Mich., and the Citizens' bank at Winneconne, Wis. shut their doors. During a drunken fight at Woodbine, Kv., City Marshal Morrissy, Bud Smith and Jim Francis were killed and four others were wounded. A heavy electric and rainstorm visited Middlesborough, Ky., in which a shower of fish of the sun perch species was precipitated on the town. The New York & New Haven railroad lost sixty-four freight cars and other property by fire at New Haven, Conn., the loss being $100,000. The statue of P.T. Barnum at Seaside park in Bridgeport, Conn., was disfigured by some vandal by being covered with red paint. Augustus Hemenway, of Canton, Mo., invited the twenty-six public school teachers there to a ten-day trip to the world's fair at his expense. The gross earnings of the Chicago, Milwaukee & St. Paul road for the year ended June 30 were $83,975,054. against for the $32,283,308 previous year. The State bank at Shubert, Neb. closed its doors owing to the flight of the cashier, G. V. Argabor ght, with $21,000 belonging to the institution. The July returns to the department of agriculture make the average condition-of wheat 76.6 per cent., rye, 85.3; barley, 101.1. SS.8; oats, 88.3. and potatoes The banking house of W. F. Thornton & Son at Shelbyville, III., made assignment with liabilities of $500,000. involving hundreds of business men and farmers, The body of Otis D. Dana, a Boston merchant. was found in a pond near Plymouth, Mass. He was and is to have walked friends there supposed visiting into the pool while asleep. Death of Justice Blatchford. Justine NEWPORT, R. I., July 8. -Associate Samuel Placet

18. 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.

19. 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.

20. August 3, 1893 River Falls Journal River Falls, WI

Article from River Falls Journal, August 3, 1893

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SusNo. now Sus. No. now in or pendpend. in oned. eration STATE ed. eration. STATE. 5 132 Nebraska 29 1 Alabama 22 5 Nevada Arizona 2 51 N. H'pshire. 10 Arkansas 102 26 6 New Jersey. California 1 10 15 New Mexico. 38 Colorado 2 335 New York 84 Connecticut 23 1 N. Carolina 18 Delaware 3 % N. Dakota 13 Dist. Colum 2 241 17 2 Ohio Florida 5 29 3/Oklahoma Georgia 38 2 13 Oregon Idaho 213 3 Penasylvaia. 397 Illinois 59 3 Rhode Isl'd 115 Indiana 6 14 S. Carolina Indian Ter 22 40 28. Dakota 168 Iowa 3 51 6 Tennessee 136 Kansas 7 223 6Texas 81 Kentucky 3 10 20 Utah Louisiana 49 83 Vermont Maine 36 68 Virginia Maryland 10 269 Washington. 61 Mass'ch's'ts 30 2 101 W. Virginia. Michigan I 80 Wisconsin 77 Minnesota 12 1 I 12 Wyoming Mississippi. 3 76 Missouri 105 Totals 6 3,785 31 Montana "It is to be observed that in twenty one states and territories there have been no failures of national banks, viz: In Alaska, Arizona, Arkansas, Connecticut, Delaware, District of Columbia, Idaho, 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, Pittsburgh, Baltimore, Washington, Buffalo, Cincinnati, St. Louis. New Orleans, San Francisco, Minneapolis, St. Paul and numbers of other great comme cial centers, and that but one has been closed in New York, two in Chicago and one in Milwaukee. The cause of the failures in New York and Chicago were due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks named were robbed by officers who are now under arrest. "The following nation al banks have been au thorized by the comptroller of the currency to resume business: Gate City national bank, Atlanta, Ga: First national bank, Los Angeles, Cal: First nat ional bank, San Diego, Cal: First national bank, Santa Ana, 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, U. T.; First national bank. Cisco, Tex.; 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. From the foregoing the comptroller makes the following resume, showing that when the full extent of banking in this country is considered the failures are proportionately small: 3,785 Number now in operation. 105 Number failed since January 1, 1893 14 Number reopened 33 Number in hands of receivers Number in hands of bank examiners, with application to comptroller for resumption 58 NEW YORK, July 29.-R. G. Dun & Co.'s review of trade says: "The hardest week yet has left the business world still able to rejoice in the soundness and strength disclosed. No banks here or at other eastern cities and no eastern firms of large importance have gone down. but several banks failed at the west. But through all the strain the banks of New York have passed without trouble, and imports of gold have commenced. "From $1,000,000 to $2,000,000 in money has been sent west every day and a large decrease in bank reserves is expected, as the treasury has not been disbursing heavily. Chicago has drawn heavily on New York, but in that and other cities bank statements indicate creditable soundness. "Grain rose briskly on Monday, but all speculative markets yielded a little when tight money came and the slaughter of stocks. Wheat closed about 1 cent lower. though western receipts were moderate. Corn is a fraction lower, as are some hog products. Cotton has declined an eighth, though receipts are a little larger and exports smaller than last year, but holders show great stubbornness in view of the large stocks in sight and the closing of many mills. In other products no special change is reported, though prices tend lower. "Many wolten factories are closing for a month or more or indefinitely, because orders are slack, for while jobbers' orders are about as usual clothiers still hold off. Fall trade is said to be not more than a third of the usual, and many dealers expect to do no more than half the usual spring business. Orders for boots and shoes are restricted. Shipments from the east are 12 per cent. less than for the same week last year. "Failures during the last week number 386 in the United States, against 171 last year and 23 in Canada, against 22 last year. It is noteworthy that only three failures were of capital above $200,000 each and only ninety-nine of capital over $5,000. Over fifty banks stopped during the week."

21. August 29, 1893 Evening Star Washington, DC

Article from Evening Star, August 29, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000: First National Bank, Palouse city, Wash., $75,000; Southern California National Bank, Los Angeles, Cal., $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal. $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo. Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Denver, $500.000: Hutchinson National Bank, Hutchinson, Kan.. $100,000; People's National Bank, Denver, Col., $600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank. Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky. $300.000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000; Waxahachee National Bank, Waxahachee. Tex., $100,000; CitIzens' National Bank, Attica, Ind., $50,000; First National Bank. San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.

22. September 3, 1893 The Times Richmond, VA

Article from The Times, September 3, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. WASHINGTON, D. C. Sept. 1.Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000; First National Bank, Palouse city, Wash., $75,000: Southern California National Bank, Los Angeles, Cal: $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Den ver $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, Col.,$600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmer's National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $200,000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000: Waxabachee National Bank, Waxabachee, Tex., $100,000; Citizen's National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.