874. Marysville Savings Bank (Marysville, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
November 9, 1881
Location
Marysville, California (39.146, -121.591)

Metadata

Model
gpt-5-mini
Short Digest
0b3adb44

Response Measures

None

Description

Directors voted to discontinue business and liquidate assets because of depreciation in real-estate security. Multiple contemporary dispatches (Nov 9–11, 1881) describe the bank as suspended and state the directors will liquidate and declare dividends; no run is reported.

Events (1)
1. November 9, 1881 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors resolved to discontinue business and liquidate because of continued depreciation of real-estate collateral and difficulty finding safe investments; suspension is voluntary to protect depositors.
Newspaper Excerpt
In view of the continued depreciation in the real estate held by this bank as security ... we deem it expedient in justice to our depositors to discontinue business, and proceed at once to collect the assets and liquidate the indebtedness of the bank.
Source
newspapers

Newspaper Articles (10)
1. November 9, 1881 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, November 9, 1881

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THIS MORNING'S NEWS. In New York Government bonds are quoted at 116 for 4s of 1907 113 for 4}s; 1011 for 34s sterling, $4811@485}: silver bars, 112}. Silver in London, 51 14-16d ; consols, 100 7-16d 5 per cent. United States bonds, extended, 105; 4s, 119]; 41s, 1164. In San Francisco half dollars are quoted at 1/2 discount to par; Mexican dollars, 921@93c. There is but little interest in mining stocks at San Francisco at present. The variations from day to day are small. Within the past week assessments have gone on as follows: Sierra Nevada, 81 per share; Mexican, 81; Hale & Norcross, 50c and Yellow Jacket, $1. There is a report at Eureka, Nev., of the discovery of a great bonanza in the Bristol Dist ict, Lincoln county. Wm. New Kim, alias Ah Kim, a student at the Marietta (Ohio) College, committed suicide at that place yesterday. Arthur Lefroy, the English railway murderer, has been convicted and sentenced to be changed. C. Beardsley, of Forest City, died suddenly at Marysville yesterday, while sitting in a chair talking with friends. A. L. Tucker, freight agent of the North Pacific Railroad, at Cheney, W. T., has absconded with $600 of the company's funds. A fatal case of small-pox has occurred at Spokan Falls, W.T. H. B. Ludworth was acquitted of the murder of Miguel Perez at Bikerefield yesterday. Fire on the meadows, near Pendleton, Or.; loss, 89,500. The Marysville Savings Bank has suspended, on account of the depreciation of real estate held as security. E. Hyer was shot by B. Buchanan at Bellevue, Wood river, Idaho, and instantly killed. A fire at Ruby Hill, Nev., yesterday, destroyed Mrs. Kavanaugh's lodging-house; loss, $2,500. A powder explosion near Hancock, Lake Su; erior, did great damage to property and caused the loss of three lives. In a collision of freight trains near Port Jervis, . Y., yesterday, three men were killed and both trains wrecked. Dr. B. Barnum killed himself Sunday at Schoolcraft, Mich. In attempting to arrest two burglars at St. Louis, a policeman was shot dead. A six-year-old child was kicked to death by a mule Sunday, near Paducah, Ky. Fire at Langhorn, Pa. M.A. Taylor, a Republican, has been elected Mayor of Austin, Tex. Gladstone is guarded by officers when he appears in public. At Marion station, Miss., yesterday, four white men were killed and two wounded by negroes. Georgie Williams, 2 years old, was killed at San Jose yesterday by the accidental discharge of a gun in the hands of his brother, aged 6. Eleven valuable horses were killed by a train of cars at Caliente, Kern county, Monday. James Crosier, an old resident, died suddenly at Stockton Monday. The total damage by the recent floods on the Mississippi river is estimated at $3,005,000. The potteries of Staffordshire, England, are on the eve of a gigantic strike. Russell Price was drowned yesterday in Linn county, Oregon, while attempting to ford a stream. In a colliery explosion at Dulinez, Spain, fifteen persons were killed and five injured. One of the youthful train robbers recently sentenced to the Arkansas Penitentiary died in that institution yesterday. Returns from yesterday's State elections in the East, as far as received, are given this morning, having been specially telegraphed to the RECORDUNION.

2. November 9, 1881 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, November 9, 1881

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Savings Bank Closed. MARYSVILLE, Cal., November 9.-The Directors of the Marysville Savings Bank yesterday passed the following resolution: "In view of the continued depression in the real estate held by this bank as sucurity and the difficulty of finding safe investments, we deem it expedient in justice to our depositors to discontinue business, and proceed at once to collect the assets and liquidate the indebtedness of the bank." The Directors state that in taking the above action they have been influenced solely by a desire to protect the depositors, believing that the assets are sufficient to pay all their claims. They propose to declare a divided.d in liquidation at an early day, and thereafter as often as a sufficient amount shall have been collected. There has been no run on the bank, and the announcement has caused no excitement.

3. November 10, 1881 Daily Globe Saint Paul, MN
Article from Daily Globe, November 10, 1881

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A Broken California Bank. SAN FRANCISCO, Nov. 9.-A Marysville dispatch says: The suspended Marysville saving bank owes depositors $445,894. Outstanding loans on real estate $339,100. The bank owns real estate valued on the books at $108,515. Nearly all of this the bank was forced to purchase on foreclosures. It was incorporated in 1869 as a purely national bank. The first dividend of 10 per cent. to creditors will probably be paid next month. No fraud is suspected, and shrinkage in real estate is the cause of the suspension.

4. November 10, 1881 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, November 10, 1881

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[SPECIAL TO THE SENTINEL.] SAN FRANCISCO, Nov. 9.-The Prison Commission this morning organized as follows: President, Governor Perkins; Vice-Presidents, Ira P. Rankin; ex-Lieutenant-Governor James A. Johnson, Chancellor Hortson, A. H. Mills, Rev. L. Elliott of Oregon, Henry E. Highton and Judge T. M. Freelon. Secretary pro tem. Rev. James Woodworth. A paper by the Prison Commission, setting forth the causes of crime, was read by Mr. Woodworth. A discussion of the pardoning power and the punishment of youthful offenders ensued, followed by the reading of & paper from the Board of Charities of Illinois by the Secretary. Oakland was visited this evening by fires, all in a space of two hours, one of was quite heavy, a of The first fire was owned by E. T. Taylor, corner and Seward streets; loss, small dwelling three Willow much which property. involving fire $1,500; in loss in of a insurance. The second was grain, hay, wood and coal depot Fisher & Taylor, corner and First streets; Franklin the owned large by building reach and of destroyed. The loss will insurance $15,000. in the grain and hay corner of Linden loss, streets; T. fire $50,000; contents Sagehorn, was $50,000. depot The and of First third W. reSixty-nine cases of smallpox are at New Tecoma, W. T., and several The physician on the Reservation reports that two have visited New Indian ans deaths. ported who Tecoma Tecoma Puyallup Indi- have has died of the disease. New been placed under quarantine, and no one is allowed to enter or leave. At meeting held by the Trades Assemdelegates from the white shoemakers bly that the Chinese were employing and paying them as as per facturers reported month. cutters, white Sacramento. .shoe high designers manu- $150 A Smallpox Scare at SACRAMENTO, Nov. 9--In view of the fact that a number of cases of smallpox had been imported yia the Central Pacific Railroad by overland emigrants from and that four become infected State Chicago, have counties from of this the the State Board of source, Health has ada communication to that overland be at or some near the boundary of recommending dressed trains point inspected Truckee the State, Governor, emigrant evidence and if be found to present and the car or cars are passengers be disinfected and all gers the cars of any which variola persons they they other quarantined, vaccination passen- in compulsory The Board the of express replies, suggesting both on the The ing gratuitously. mends of Governor inspectors undergo inspection also Central and the recom- trains. plac- post- Paand Southern Pacific lines, the of the Board as are at his meet use ing cific tion at such to extraordinary the funds disposal regular appropriation emergencies. disposal in for addi- The its to railroad companies promise co-operation. The Board of Health will at once arrange the details of the quarantine. Suspension of n Marysville Bank. MARYSVILLE (Cal.), Nov. 9.-The Directors of the Marysville Savings Bank to-day passed the following resolution In view of the continued depreciation of real estate held by this bank as security, the difficulty in finding safe investwe deem it expedient, to discontinue our ments, and depositors, in justice business to and at once to collect the assets and the indebtedness The Directors state that the action they have been bank. above proceed liquidate depositors, influenced in of taking the solely by a desire to protect the believing that the assets are sufficient to claims. They propose to declare a in liquidation at an dividend pay all early sufficient day, and thereafter as often as a amount shall have been collected. There has been no run on the bank, and the announcement has caused no excitement. Fatal Accident at San Jose: SAN JOSE, Nov. 9.-This afternoon the two sons of Sheriff Williams, Amos, aged 6 years, and George, aged 2 years, were in an outbuilding playing. While there Amos found a breech-loading shotgun, and took it up. In tooling with the hammer

5. November 10, 1881 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, November 10, 1881

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The Suspended Marysville Savings Bank. MARYSVILLE, November 9th.-The suspended Marysville Savings Bank owes its depositors $445,894. Its outstanding loans on real estate in Sutter county amount to $165,500 ; in Butte, $95,900; in Yuba, $69,600 in Colusa, $6,600; and in Tehama, $1,500. The bank owns real estate valued on the books at $108,515. Nearly all of this, it is said, the bank was forced to purchase on foreclosures. The Secretary's trial balance, taken the day before the suspension, shows the liabilities to be $476,006, and the aseets the same. The bank's business was confined to loans on real estate. It was incorporated in 1869, on a purely mutual basis, and the Secretary thinks the first dividend will be ten per cent. The creditors will probably be paid the first dividend next month. No fraud is suspected, and the shrinkage in real estate explains the suspension.

6. November 11, 1881 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, November 11, 1881

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Telegraphic Notes. Misss Lydia Bailey, aged eighty-six, was burned to death in Hartlord yeaterday while lighting a fire. The total loss throughout Ontario by bush fires during the past deason is estimated at between $10,000,000 and $20,000,000. It is expected that Hon. Lionel Sackville-West, the new British Min. ister will be presented to the Presid dent to-morrow. 10/100 1.00 In his annual report to Secretary Windom, First Auditor Reynold m ommends the employment of additional clerical force in his office. The schools of Biddeford, Mo., have been closed in: consequence of the prevalence of small-pox. There have been sixteen cases and six death STOR Postmaster General James has made arrangements tc take a pleasure trip to Florida, leaving Washington early next week and returning in about a fortnight thereafter. The Marysville (Cal.) Savings Bank has suspended owing depositors $445.895. Its business was confined to loans on real estate and shrinkage of values was the cause of the stappension. Do

7. November 11, 1881 Daily Republican Wilmington, DE
Article from Daily Republican, November 11, 1881

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NEWS FLASHES. DAY'S RECORD OF A DOINGS. Dividend by a Suspended The smoke ceptive Clear Box P.est. dest Artsur and Civil service Reform. The suspended Marysville Savings Bank. of Marysville California, is pected to decla first Mividend of ten percent next month It owes deposit tors $415,894 has standing loans real estate or $339,000. and owns real estate valued on the books at $108,515, most of which it compelled to purchase on foreciosure Its suspension was area by shrinkage in real estate The Mayor and Board of Public Works in Cine innati have at proved ordinar providing for the appoint ment of an inspector of furnaces, and users of fornaces adopt "some satisfactors method of prevent ing the smoke univaries which has grown such magnitude by the use of at takes ordinance coal. soft John Marray, cleaning the root of on Wednesday afternoon, containing While explode the ining injuring badly died at night neighboring a promiThe trial of Chas Fisher, of young Cineinatti, be charge of baller boxes supervisor of elections, resulted yester and the told Baxter the jury District Attorney that "ne be permitted to return a verdict guilty on the evidence produced at trial The Central of the Nation al has solved to send deputation to President Arthur soon after the meeting to 'not represent Congress, but the lariy to impress with the nature and importance of this(civil vice )reform. The funding operations of Secretary Windom are completed the few maining suspended cases ha ing been and bonds $579,560,050 disposed continued per cent. The total are cost to the Government was about $10, 000, of W hich 000 was for and the printing of the bonds Claims due the Nagents of Newark New Jersey to three hun dred and thousand hundred and -three dollars have been attached in Albany at the stance Packard & Anderson to whom the Nagenteow a money. Michael Conly died yesterday morning in Lynn, Massachusett from beer of given him in The latte Daniel by and said that Conly was becom ing botsterous laudanum intended toquiet At San Antonio, Texas, on Wednes day Stark pleaded guilty of rob. bing the mail, and was sentenced the penitential for ten years. Wii to liam Petty convicted of the same last week was sentenced to im prisonment for life. Taylor Love, who had formed upon W. . . Fuller. an illicit distiller, killed by the latter at Clarksville Geor was gia,on the night of the 7th instant Leonard Jarr.erd skilled by an assassin the same night and same place makers' strike at Milwauwithout any settlement Arrangements present made by the firms affected bring 400 cigar makers from San Francisco place was ent husiastic ally received River, Massachu setts, on night. He escorted the by the local Irish was Societies an spoke for an hour amid great applause by Six persons were injured, one fatally the fall of elevator in the Belvidere Hotel New York. new day was afternoon The rope that yester failed made of twisted steel, Two Chinese theologic a) were assaulted, and one was students injured, by four young ruffians severely in of the streets of Cincinnati on Wednes one day voked. hight. The assault was unproof Hill, Morgan & Co., dry goods dealers New York, have made an ment. The preferred creditors assign. are B. Claflin & Co., for 3.49,000 S. H. V Kennedy, White, $20,000. $5,000 and Lewis Brothers Barnhard M Annis and Joseph Point Isaacs left Butlalo on Wednesday for Albino, to shoot ducks, perished night. in the gale on Wednesday and Samuel Ingham, formerly a Democratie leader in Connectient, and who was member Congress from 1835 to 1839, died yesterday a: Essex, in that State, aged 88 years. Who would throw away hard-earned money vertised for every new cough syrup ad when can procure standard remedy for coughs, Dr. Bull' that Cough Syrup. On Tuesday night, an old building in Clarksville, Tennessee. frame colored tumbled down with crash, killing dren. man, his wife and three egilbeen Fifteen casses of small pox having the reported in Biddeford, Maine, public schools the have been all closed, and more than three thousand persons vaccinated. of Condy Mauch Haggerty, a prominent citizen terday Chunk, was found dead morning at the foot of yesprotected suspected. high wall, and foul "an play un- is The cotton crop of Georgia on Nov. was reported the Agricultural Com. 1st missioner of that State as ing 30 centshort, compared with the crop per of last year. A colored man named Partridge whipped his step-daughter to deata is Americus, Georgia, on Wednesday He in danger being ly ruched. from Nine bodies in all have been taken house the ruins of the fallen tenement on Grand street, in New York, 0 and the search is still going on. It is reported from Madison that Mrs. Sarah Mosely has died Indiana, there

8. November 11, 1881 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, November 11, 1881

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GENERAL NEWS. Judge Cox, in the Criminal Court at Washington yesterday morning rendered his decision in the Star Route cases. He held that the crime alleged was infamous and the accused should have been proceeded against by indictment. The motion to quash the information was therefore, sustained, and the defendants discharged. The suspended Marysville Savings Bank, of Marysville, California, is expected to declare a first dividend of ten per cent. next month. It owes depositors $445,894, has outstanding loans on real estate to the amount of $339,000, and owns real estate valued on the books at $108,515, most of which it was compelled to purchese on foreclosure. Its suspension was caused by shrinkage in real estate. Claims due the Nugents, of Newark, New Jersey, aggregating $376,733, have been attached in Albany at the instance of Pickard & Anderson, to whom the Nugents owe $27,000. H.ll, Morgan & Co., dry goods dealers of New York, have made an assignment. The preferred creditors are H. B. Claflin & Co. for $149,000, S. V. White $20,000, and Lewis Brothers & Kennedy $5,000. The cotton crop of Georgia on Nov. 1st was reported to the Agricultural Commissioner of that State as being 30 per cent. short compared with the crop of last year. The Governors of Pennsylvania and New Hampshire have appointed Nov. 24th as Thanksgiving Day. A life saving station is to be erected on Jerry's Point, at the entrance to the harbor of Portsmouth, New Hampshire. The U. S. training ship Constitution has been ordered from Newport to Philadelphia, to remain there for the winter. The total amount received in New York for the Michigan Relief Fund up to noon yesterday, amounted to $125,945. The Von Steubens sailed for Europe yesterday, in the steamer Waesland, from New York. Mr. T. P. O'Connor was enthusiastically received in Fall River, Mass., on Wednesday night. He was escorted to the ball by the local Irish Societies, and spoke for an hour amid great applause. John Murray, while cleaning the roof of a house in Cincinnati on Wednesday afternoon, found a cigar box, containing some strange substance. While examining it, the stuff exploded with great force, injuring him so badly that he died at night. The material was some explosive used at a neighboring fireworks factory.

9. November 11, 1881 New-York Tribune New York, NY
Article from New-York Tribune, November 11, 1881

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A SUSPENDED SAVINGS BANK. MA RYSVILLE, Cal. Nov. 10.-The suspended Marysville Savings Bank owes depositors $445,894. Out standing loans on realestate, $339,100. It owns real estate valued on the books at $108,515. Nearly all of this the bank was forced to purchase on foreclosures. The business of the bank was confined to loans on real estate. It was incorporated in 1869, on a purely mutual basis. The first dividend of 10 per cent to the creditors will probably be paid next month. No fraud is suspected, and shrinkage in real estate is the cause of the suspension.

10. November 16, 1881 The Wellington Enterprise Wellington, OH
Article from The Wellington Enterprise, November 16, 1881

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General News Summary Interesting Home and Foreign News. DOMESTIC HON. CYRUS W. FIELD, of New York, received the following letter from Mrs. Gar field, the 9th, accepting the fund raised letter of Oc Your and children: for herself giving tober 26th Gar regarding the fund family, field's kindly As I have through my THE Marysville, Cal. Savings Bank suspended the 8th. with of nearly $500,000. Its outstanding loans on amount to $339,000. Shrinkage in the estate suspension THE State Capitol at Austin, Texas. burned on the 9th. The archives of the re public of Texas, the battle flags and the Alamo were destroyed Incendi arism is the supposed cause. THE French and German visitors to the Yorktown celebration have sailed for home. BILL LITTENBORN and Sandy King two cowboys under arrest for stealing stock were lynched at Shakespeare, A. T., on the night of the Sth. THE bonded Pacific railroads earned during the last year for military transportation $836,688, which is withheld by the Secretary of the Treasury to be applied to the liquidation of their indebtedness to the Uni ted States. ATTENTION having been called to the adulteration of beer in New York City, Com missioner Raum says be intends to cause general examina of the materials used in the manufacture all over the country ARGUMENT on the information phase of the Star route cases closed on the 9th. and Judge Cox announced that he would proba bly give his decision on the following day. MRS. SARAH MOSELY died at Madison, End., on the 9th, aged 111. Her oldest child s eighty-seven years old. E. C. CARLETON, Chairman of the Port Huron, Michigan Relief Committee, in reply to dispatch of the Secretary of the Michigan Relief Commit at New York City says there much sickness in the burnt dis shelter and is and the Much stock posure. of sold The being farm well implements ing of doling the stopped given former sume cording families St the will and Sanilac Clair, $100 should the is quired The Huron in not included district, the family in no The IN the Washington Criminal Court 10th Judge Cox announced his decision cases, the route Star the in that held He fendants from custody should crime have against As decision had Cook, E William made, of in the had District the had be They and they they desired defend against which no technical ob jection be raised. could ED WILLIAMS, one of the notorious Wisconsin murderers, was arrested near Grand Island, Neb., on the night of the 8th Lon. his brother, escaped, THE cotton crop in the South is re ported short thirty per cent. compared with last year THE New York Produce Exchange decided to erect a new building to cost $2,000,000. A VIOLENT snow storm occurred at Lincoln, Neb., on the 10th. SECRETARY WINDOM'S refunding op erations were entirely on the 10th The total bonds cent the was $579,560,950, the about of bonds in London, $4,499.08. This of of bonds about $17.81 HENRY T. SISSON was nominated for Congress by the Democrats and Henry B Spooner by the Republicans of the First Rhode Island District, on the 10th AT San Antonio, Texas, on the 10th, Julius Clark to the penitentiary for ten years for robbing the United States mails. William Petty, for the same crime, was sentenced to life Imprisonme THE elevator in the Belvidere Hotel New York City, fel from the fi th floor to the basement on the 10th. Five the one fatally accident The was caused by the breaking of twisted rope THE Rio Grande river at Browns ville, Texas, higher on the 11th thau since 1848. About three- fourths of Mata under water and much damage had been done. Since the 13th hadrained almost day in the south eastern counties of the State. THE Union Pacific Railroad was blocked by snow Sherman, W. T., on the 11th THE Choctaw Nation has granted the St. Louis San Francisco Railroad right of way through its territory THE Blanchard, Lawrence, Aldine 3t Clair, Belmont and Fiske Hotels at Old Orchard Beach, were destroyed by fire on the night of the 10th THE Orphans' Home at Wolmesdorf burned ou the morning of the 11th The children THE boot and shoe mannfacturers of Cincinnati have decided to make & slight in crease in prices of their products ACCORDING to the report of Joseph Nimmo, Chief of Bureau of Statistics freight of the carried United tons 1880, during during The of cent. $112,004,648 1878 to 388,178 This emai rate increase the increase traffic