887. Bank of Commerce (San Diego, CA)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
June 21, 1893
Location
San Diego, California (32.715, -117.157)

Metadata

Model
gpt-5-mini
Short Digest
87b78175f38dce7f

Response Measures

None

Description

Contemporary articles describe an initial run June 21–22 precipitated by suspensions of other local banks (Consolidated National, Savings Bank), the Bank of Commerce failing to open June 22 (temporary suspension), and reopening June 26 after funds/reserves were strengthened and percentage payments arranged. Bank type not specified in texts.

Events (3)
1. June 21, 1893 Run
Cause
Local Banks
Cause Details
Payments were suspended at Consolidated National and Savings Bank of San Diego; news of those closures spread and precipitated withdrawals at the Bank of Commerce.
Measures
Bank strengthened resources; later arranged percentage payments and awaited funds from San Francisco to bolster reserves.
Newspaper Excerpt
News that these banks had closed spread quickly about the town, precipitating a run on the First National, Bank of Commerce and Savings Bank.
Source
newspapers
2. June 22, 1893 Suspension
Cause
Local Banks
Cause Details
Could not meet sudden heavy withdrawals that followed suspensions/rumors about other local banks; thus failed to open and suspended payments temporarily.
Newspaper Excerpt
The Bank of Commerce failed to open its doors this morning. A notice on the door stated that the bank was temporarily closed and that depositors would be paid in full.
Source
newspapers
3. June 26, 1893 Reopening
Newspaper Excerpt
The officers of the Bank of Commerce yesterday announced that the bank would reopen Monday for business. Funds are on the way from San Francisco to strengthen the reserves of the bank... The Bank of Commerce resumed business this morning.
Source
newspapers

Newspaper Articles (21)
1. June 22, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 22, 1893

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SAN DIEGO'S FLURRY. Indications That the Banks Will Pull Through. SAN DIEGO, June 21.-All of the local banks opened their doors at the usual hour this morning, and for the first half hour only the ordinary amount of business was transacted. It then became noticeable that there was to be an unusual demand from depositors for cashing of their deposits; several large checks being presented at Consolidated National by anxious individuals who feared a run, and hoped to forestall other depositors by early settlement of their accounts. As soon as it became apparent that a run had commenced payments were suspended at the Consolidated National and the Savings Bank of San Diego, which occupy the same building. News that these banks had closed spread quickly about the town, procipitating a run on the First National, Bank of Commerce and Savings Bank. The First National endured the pressure until after 1 o'clock, when the deors were closed. The San Diego Savings Bank being in the same building it was at first supposed it had also failed, but this proved incorrect and the doors were opened on demand of President Sefton and payment resumed. The run on the Bank of Commerce continued till the hour for closing, but it is understood that its resources have been greatly strengthened and the announcement is officially made that it will open in the morning. The Merchants' National, a bank recently established, has its paid up capital in cash in addition to nearly $100,000 deposits, and no fears are entertained of a run there. New deposits were opened there by those withdrawing elsew here. General confidence is felt that there will be no further trouble here. The announcement is made that the banks which suspended will pay depositors in full, but no statement of actual assets and liabilities can be secured. ANAHEIM, June 21.-The bank of Anaheim closed at noon. Depositors will all be paid in full.

2. June 23, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, June 23, 1893

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NEWS NUGGETS. Brought by the Wires From the North, East South and West. The Bank of Commerce. San Diego, Cal., failed to open its doors Thursday. The Harvard-Yale base ball game, scheduled for Thursday was postponed until Saturday. The funeral of Senator Stanford will take place at the chapel at Palo Alto University Saturday. Thus far 123 applications have been received for admission to the West Point Military academy. Samuel R. Hersey, Massachusetts, exassistant chief of division in the pension office has been reinstated. R. T. Rhea & Son, grain dealers. Nashville, Tenn. assigned Thursday. Liabillities, $100,000; about equal assets. The failure of Henry Sheldon & Co., dealers in tea and coffee at 109 Front street, New York, has been announced. No statement of the condition of the firm's affairs is announced. J.C Richardson of New Haven, Conn., has begun suit to recover more than 85,000,000 from the manufacturers of harvesters for using his trip hook mechanism, for which he has patent. Harry Towle, aged 16, employed by the Newmarket Manufacturing Co., at Newmarket, N. H., got caught in the elevator at the mill Thursday, and was carried over the beam, breaking his neck. In the special Episcopal convention at Burlington, Vt., for the election of a bishop of the diocese of Vermont, Thursday, Rev. Samuel Hart, D., Hartford, Conn., was elected on the fourth ballot. It is estimated that there will be two weeks more of speech-making before the Behring sea tribunal. The discussion will be closed by ex-Minister Phelps, the senior counsel for the United States. The New York Herald's Valparaiso special says that from, Artigas, Brazil, the Herald's correspondent telegraphs that Gen. Lima's army has thoroughly routed Gen. Saraiva's revolutionary forces. Mrs. Albert Louis of Bridgeport, Conn., has sued the managers of the New York hospital for 85000 damages for the death of her stepson, Albert Louis, Jr. upon whom a fatal operation was performed. According to a despatch from St. Petersburg June 22, cholera is decreasing rapidly throughout Russia. In Bessarbia. Podolia. Kursk and Orel, only an occasional death is reported and no fresh cases are now reported. William D. McCoy (Colored) Indiana, United States minister resident to the republic of Liberia died at Monrovia, May 14. and was buried with military honors. Mr. McCoy was born in Indiana, Nov. 17, 1853 He was appointed by President Harrison, January, 1892. Police Justice Tighe of Brooklyn on Monday morning gave Capt. Magnus Andersen and his brave Viking crew what he was pleased to call "a slice of Brooklyn." Thursday the justice humbly took back the slice. He discharged the prisoners without taking any evidence. Secretary Carlisle Thursday directed Treasurer Morgan to anticipate the payment of the July interest on the 4 per cent. United States bonds and on the Pacific Railroad bonds. Checks in payment of the interest will be placed in the mail Saturday afternoon. and all sub-treasuries in the United States will be instructed to cash them on presentation. Mrs. Cleveland, Baby Ruth and her nurse arrived at Buzzard's Bay. Mass., on Commodore Benedict's team yacht at 11.20 Thursday morning. The arrival of the distinguished visitors has been anxiously awaited, and friends and neighbors extene to them a hearty welcome. Mrs. Clevey land appeared in excellent health and ex. pressed great pleasure at being back once n more at Gray Gables. a The down freight on the northern divie sion of the Boston & Maine Railroad, conis sisting of 46 cars. mostly loaded with ice, broke apart at Rochester Hill. one mile h north of Somersworth, N. H., Wednesday in night. Thirteen cars left the track and d piled up in a heap. Wrecking gangs are at is work at the scene. Passenger traine are h obliged to run over the western division to o Conway Junction. No one was hurt. g

3. June 23, 1893 The Sun New York, NY
Article from The Sun, June 23, 1893

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HARD TIMES FORTHE BANKS. SIX MORE OF THEM SUSPEND IN SOUTHERN CALIFORNIA. With their Money Locked Up they Could Not Face n Email Paste San Francisco Banks Expect to See Great Exettement To-day Bad Showing of the Plankintes Bank- A Kent Estate Failure in Chicago LOS ANGELES Cal. June 22 Confidence has been restored among local bank depositors and the exciting seen of yesterday were not repeated. All the closed banks. except the City Bank, will open in A few dave. All have ample assets. but they were paralyzed by the insano panic which infected the people. The influence of these suspensions was seen to-day. when the First National and the Commeretal banks of Santa Ana closed, and were speedily followed by the banks in Orange and Tustin. This leaves the new county of Orange, which was partitioned off from Los Angeles. without a single bank remaining open. These banks are declared solvent. but they could not pay sudden demands of depositors. The People's Bank of Pomona and the Bank of Commerce of San Diego also suspended to day The latter stood a run of two days and then succumbed. The trouble with all the South California banks is that they have a large part of their coin loaned out on farms and city property on which they cannot realize. SAN FRANCISCO June 22. The effect of the bank runs insouthern California was felt in San Francisco to-day for the first time. There was a small run on the German Savings Bank to-day. but it was quickly ended by the prompt payment of all who demanded money. Considerable excitement is expected to morrow. but it is understood that if any bank is singled out for attack the others will aid it. and should this be done the trouble will be ended quickly All the leading savings banks have been adding to their reserve. so they are well prepared for any runs To-morrow will see big financial excitement in San Francisco, as it was decided to-night that the Pacific Bank would not open. The Pacific has long been regarded as the weakest commercial bank in the city Its President is Dr. R. M. McDonald, the Vinegar Bitters millionaire, but it has been managed by his son. The bank has gono into many speculative enterprises. such as the electric railway of Los Angeles. the Brown colony in Madeira and several Arizona irrigation schemes. in which it has sunk large sums. Its suspension will also probably close up the People's Home Savings Bank. an institution which has made a bid for small deposite by giving little safes for the household. The manager of the Clearing House does not think any other city banks are in danger. but the conference of bankers to-day declined tondvance funds to help the Pacific Bank becondition cause of its RIDGWAY June The Ridgway Bank, private institution. this morning posted the following notice on its deors: financial situation on interests doors. full soup on given to the public as soon can be prepared. The notice is signed by D. C. Oyster. President. and cashier. A gentleman was closoconsultation with the officials the bank during the estimates assets $364,000 and the liabilities $216,000. This bank has had the confidence of working people many whom have all their wealth in the bank's care. BIRMINGHAM, Ala. June 22 An unfounded rumor that the First National Bank had refused to pay check for $80,000 precip Itated run on that stitution this morning The bank paid out about $40.000 up to noon. when confidence was restored and the run ceased FLORENCE Ala. June Cashier Carr of the Tuscumbia Banking Company was arrested last night. Carr returned from New York yesterday claimed to have sufficient money to pay depositors of the suspended bank. Instead this he made a proposition to compromise, which was rejected, and his arrest followed. It is now thought the bank will pay only fifteen cents on the dollar. June 22.-The City National Bank of this ity was closed this morning by order of Bank Examiner Caldwell No statement of the condition has been made public. The cause of the suspension was the steady withdrawal of deposits and the stringency of the money market. There is no exeitement. the depositors generally having perfect confidence that the bank will come out Il right MILWAUKEE. June 22.-An analysis of the Plankington bank statement filed by Assignee William ankington shows that President socured in loans from the bank nearly $400,000 instead of $300,000. Of this sum $278 000 was loaned to himself and $100,000 to the Milwaukee Brass and Copper Works, which he was President. statement that fourteen firms owe the bank over $1,000,000. as follows Lappen & Co., $263,128 Lappen Furniture Com $10,210: Frederick Day. $278,000: Benedict & $105,500 Buffalo Mining Company $55,000: Got tenburg and Improvement Company $10,180 A. Hildebrand $10,000; Milwaukee Brass and Copper Works. T.Day President. $100.000; John H. Meyers. $30,000; Meyers and $25,137 Mas Brothers. $10.000; Richter Shubert & Dick $15,232: Swift Co. $10,000; Schlessinger Brothers, $45,000. The only security for the Benedict loans is forty notes made by R dozen people. the face value of which is about $15,000. The Lappen notes have security chattel mortgages, shares intheHidalgoSmithing Company, and an assignment in a tract of land contract to ninety-five acrew in Waukesha county. The Day notes are secured by Dakota lands and local real estate Thirty banks throughout this and other States were caught in the failure for various sums. BOSTON. June was decided -day by the full bench the Supreme Court that a national bank bound by the insolvency law that prohibits debtors from conveyin such a as way property ing to ereate an unjust forence. This ruling WAR made f George Chipman Arthur Tellan. and the Traders National Bank V8 George Chipbank had lent money to Dudley C. Hall. taken note secured by two conveyances Medford. These conveyances when Hall was insolvent although not assign unti five months afterward bank claimed he State Insolven law was in conflict with the United States law giving a national bank right to take and hold propand mortgages upon real perty as security for dehts previously contracted. on June The SCHENECTADY the run Schenectady Savings Bank ended at noon Yesterday 181 depositors ine-tenths of were Poles. Swedes and Italians. drew a littl $44,000. This morning $ 100 was drawn out The Schenectad Savings Bank one of the trongest and most vatively conducted bank n the State The -annual statement, published on June 15, showed bank has an actual surplus, after paying debt of over $40,000, without including the real estate State Bank Examiner after recent examination of the bank declared it to be as sound any bank in the State FAILURE IN THE COFFEE TRADE

4. June 23, 1893 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, June 23, 1893

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DR. SAMUEL HART ELECTED. He is Chosen Bishop of the Diocese of Vermont at the Special Episcopal Convention-One of the Best Scholars in the Liturgy of the Church. BURLINGTON, Vt, June 22.-In the special Episcopal convention for the election of a bishop of the diocese of Vermont today Rev. Samuel Hart, D. D., of Hartford, Conn, was elected on the fourth ballot. The convention was called to order at 2 o'clock by J. Isham Bliss it was found twenty-seven out of twenty-nine clergymen entitled to vote were present, fortytwo represented two Before parishes lay delegates. being proceeding by eighty an election Dr. Bliss addressed the convention concerning the gravity of the question before it. Rev. E. H. Randall, Poultney, offered the following: When the convention shall proceed to election of a bishop only those entitled to vote shall be allowed seats in the church. Some disapprobation of the action of the convention was expressed. By general consent no nominating speeches were made. Ballots were cast for Revs. W.J. Harris of Rutland, W. B. Walker of Bennington, L. A. Arthur of Detroit, Mich., W. H. Dennison, Roxbury, Pa.; Thomas S. Davenport, Memphis, Tenn.; Dr. J. Carey, Saratoga, N.Y.; Dr. D. C. Roberts, Concord, N. H. McC. Fiske, Providence, R. I;; and Dr. Samuel Hart, Hartford. Dr. Hart received a majority on the fourth ballot, and his election was made unanimous Samuel Hart, D.D. bishop elect of the Vermont, was born in Saybrock, in 1845. His father was a Hart graduated man. diocese Conn., Dr. of from Trinity clergy- at the college in 1866, and after a course Berkeley Divinity school, Middletown, he was ordained by Bishop Williams. He was several years a He is secretary of the ity. for professor house member in of Trin- bishhas been for several years a of convention a part in the the prominent ops, the general and revision has taken of prayer-book. He is recognized as one of the best scholars in the liturgy of the church. BANK DOORS CLOSED. Two Banks in Santa Anna Did Not Open Their Doors-Only One Bank Left in San Diego. SANTA ANNA, Cal., June .-The First National bank and the Commercial bank of Santa Anna did not open their doors this to heavy morning owing withdrawals collect fast of deposits and inability to Both banks are be enough. They declared assets and to solvent. have ample can in time pay in full. NO STATEMENT MADE. GREENVILLE, Mich., June 22.-The City National bank of this city was closed this morning by order of Bank Examiner Caldwell. No statement of the bank's condition has yet been made public. ONLY ONE LEFT. SAN DIEGO, Cal., June 22.-The Bank of Commerce failed to open its doors this morning. The new Merchants' National bank is the only bank left. CAUSED BY FALSE REPORT. BIRMINGHAM, Ala., June 22.-An-unthat the First National refused to pay a bank founded had rumor check for $80, 000 a run on this The bank precipitated morning. paid that institution out ceased. about $40,000 up to noon when the run PEACE MUST BE MAINTAINED. Governor Flower Sends a Caustic Letter to the Sheriff of Erie County. WATERTOWN, N.Y., June 22.-Governor Flower, at his home in this city, received from the telegram to-day Eastern Lumber that of Tonawanda to firms company the lumber doing business the effect in TonaErie on because no can be their wanda, doeks county, cannot land protection lumber the sheriff none from the obtained village from authorities, sufficient unload and vessels to induce their to attempt to now there to and to governor men or arrive, urgently protection appeal the for military 80 that they may be able to transact their business. Immediately upon the receipt of the dispatch Governor Flower sent following to the shoriff of dispatch Erie the county: dealers wire that cannot lumber on the boats they "The as it me arriyes lumber they their of land because Tonawanda, their and have no for men you have to aid them. one and I expect you to plain refused protection Your do duty it. You is have to summon the citizens of Erie to you the power county aid law adjoining and abiding National guard of yours and if necessary. good order be any counties, must maintained Peace at FLOWER." and cost. ROSWELL P. (Signed)

5. June 23, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, June 23, 1893

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FAILURE AT SAN DIEGO. SAN DIEGO, Cal., June 22.-The Bank of Commerce closed its doors this morning. A notice on the door stated that the bank was temporarily closed and that depositors would be paid in full. CITIZENS' BANK CLOSES ITS DOORS. ONTARIO, Cal., June 22.-The Citizens' Bank closed its doors this morning. The statement shows that the resources greatly exceed the liabilities. RECEIVER FOR IRON WORKS. ANDERSON, Ind., June 22.-A receiver was today appointed for the Anderson iron and bolt company. The liabilities are $34,000, and the estimated assets $30,000. CONTRACTORS WRECKED. BOSTON, June 2.-Crosby & Noyes, contractors and builders, and Benning C. Noyes & Co., furniture manufacturers, made an assignment today. UNABLE TO MEET CONTRACTS. NEW YORK, June 22.-D. Meid White, of the consolidated stock exchange, announced his inability to meet contracts.

6. June 23, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 23, 1893

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present crisis, and so far no mercantile failure has occurred. CHICAGO. June 22. - Baird & Bradley. a well known real estate firm, assigned today. The assets are placed at $500,000 and liabilities at $400,000. Inability to realize on real estate holdings is said to be the cause of the suspension. NASHVILLE. Tenu., June 22.-B. T. Rhea & Son, grain dealers, made an assignment today. The liabilities are estimated at $100,000, with about equal assets. Local banks are the largest creditors. SAN DIEGO, Cal., June 22.-The Bank of Commerce failed to open its doors this morning. The New Merchants' National is the only bank left.

7. June 25, 1893 The Herald Los Angeles, CA
Article from The Herald, June 25, 1893

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Gerberding reports also that the San Diego Savings bank, which was not closed, but which required 30 days notice, is solvent. He is now examining the savings Bank of San Diego county. Later-The officers of the Bank of Commerce today announced that the bank would open on Monday for business. Funds are on the way from San Francisco to strengthen the reserves of the bank, and such a majority of the depositors has agreed to the proposition of percentage payments, that there is no further fear of a run when the bank opens. The Oceanside bank, which closed temporarily, resumes business Monday.

8. June 25, 1893 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, June 25, 1893

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mangled when the bodies were gathered up today. Of the injured three will probably die. FREdErICkToN,N.C.-Eighty dwellings and six stores, two churches and a railway station and round house were burned in the village of Gibson yesterday afternoon. One hundred and thirty families are homeless. The loss is $2,000,000; insurance light. ELLSWORTH, Me.-Fred L. Kent, cashier of the First National Bank of Ellsworth, has been announced a defaulter in the sum of $19,000, of which $10,000 is covered by the bond. The bank loses $9,000, but its ability and credit are unimpared. BerLIN-Sinking of ground in Schmidmeuhl continues. Scores of buildings have been renderd unsafe and many have been completely wrecked. Subsidence of ground began several days ago and is attributed to opening an jartesian well through which an immense amount of water has been expelled from an underground reservoir. Schmidmeuhl is in Posen and has 12,000 inhabitants. SANTA ANA, Cal.-The First National bank and the Commercial bank of Santa Ana did not open their doors this morning, owing to heavy withdrawals of deposits. It is understood that both the Orange and Tustin banks have closed for like reasons. SAN DIEGO- Bank of Commerce failed to open its doors this morning. Los Angeles-Everything is quiet today. The panic has subsided: MADRID-Great excitement prevails throughout this city in consequence of a dastardly attempt last night to blow up the residence of Senor Canovas del Castillo, late prime minister. Though the occupants of the residence escaped unhurt, the explosion was the cause of the death of one +person, the fatal injury of another and the wounding of several others. DULUTH, Minn.- The Bunnell building, a five story frame structure and a regular firetrap, was destroyed by fire last night. In the building were four stores, two saloons and two newspaper plants. Eighteen people, many of them women and children, occupied the upper floor. The fire started from an unknown cause. At the point where it originated there was no possible source of fire. The total loss is about $40,000, with a total insurance which will not exceed $12,000. It is feared that the loss of life may reach an appalling figure. Four dead bodies have already been recovered, and it 18 certain that at least three more are in the ruins. MILAN, Tenn.-For some time past Dr.John Hood, of Aden, sixteen miles north of here, has suspected improper relations existed between his wife and William Piper. Wednesday night Dr. Hood left home ostensibly on a visit to a patient, but instead hid in an outbuilding near the house. In less than an hour Piper entered the house. The doctor forced his way to his wife's bedroom and found his wife and Piper in a compromising situation. The doctor attempted to shoot Piper. but his pistol snapped. [Snatching a coal oil lamp burning on a table near by the wronged husband dashed the missile at Piper's head, the glass horribly cutting his face. The lamp exploded, the oil running in streams of fire over Piper's body, burning his right ear off, des roying the sight of both literally cook ine his breast

9. June 26, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, June 26, 1893

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WILL REOPEN TO-DAY. One of the Suspended San Diego Banks Is Ready to Resume. SAN DIEGO, Cal.. June 25.-The officers of the Bank of Commerce yesterday announced that the bank would reopen Monday for business. Funds are on the way from San Francisco. There is strength in the reserves of the bank and the majority of the depositors have agreed to the proposition of percentage payments. There is no further fear of a run when the bank opens.

10. June 27, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, June 27, 1893

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paid the Illinois corporation known as the World's Columbian Exposition. FAILURES OF A DAY. Banks and Business Houses Suspend and Others Resume Business. Port Angeles, Wash., June 26.-The First National Bank of this city suspended shortly after opening its doors this morning. The suspension was caused by the sudden withdrawal of deposits by several large depositors. The officers of the bank saw that the cash on hand would not hold out, so they decided to suspend temporarily until funds could be secured. The assets of the bank are $142,000; liabilities, $86, 000; due depositors, $82,000. The bank has been conducted on very conservative lines, and is in good condition. The suspension caused no excitement, and confidence in an early resumption is expressed by all parties. The suspension will only cause a temporary embarrassment to a few. Buffalo, June 26.--The Queen City Bank has failed. The bank suffered a steady drain for the past several weeks. After paying out all its available cash, even to dimes, nickels and pennies, the officers this morning walked out and closed the doors. It owes the depositors over $140,000. The management claim the depositors will be paid in full. San Francisco, June 26.-The firm of S. &. G. Gump, extensive dealers in art goods, made an assignment today. The liabilities are placed at $140,000. The assets of the firm are supposed to exceed this amount. The cause of the failure is attributed to the calling in of loans. Minneapolis, June 26.-The Bank of New England has suspended payment at least temporarily. A. J. Blethen, the president, says the depositors will be paid in full. New York, June 26.-A receiver has been appointed for the Mutual Brewing Company of College Point. San Diego, June 26.-The Bank of Commerce resumed business this morn-, ing.

11. June 27, 1893 The Herald Los Angeles, CA
Article from The Herald, June 27, 1893

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San Diego Banks Resume. SAN DIEGO, June 26.-Two of the banks which were forced to suspend payments on account of runs last week resumed business today, the Bank of Commerce and the Savings Bank of San Diego county both being authorized to reopen. The deposits at the former were $26,000 up to the closing hour and the withdrawals only $6000.

12. June 27, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, June 27, 1893

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RECEIVER APPOINTED SIOUX CITY, Ia., June 26.-E.C. Tompkius was today appointed rereiver for the Union Stockyards State Bank, which failed three weeks ago, on application of its president, John Pierce. Chrys Moler, his son-in-law. was today appointed receiver for the Sloux City Cable Railroad company. BANKS REOPENED. SAN DIEGO, Cal., June 26.-The Bank of Commerce, which suspended three days ago during the panic, re. opened this morning. No further run was made on it. FRESNO, Cal., June 26.-The Savings an Loan Bank opened for business this morning, after being closed one day. The bank is perfectly sound. The financial outlook is all serene.

13. June 27, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, June 27, 1893

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San Diego Bank Reopens. SAN DIEGO, Cal., June 26.-The bank of commerce, which suspended three days ago during the panic, reopened this morning. No further run was made on it.

14. June 29, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, June 29, 1893

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Faillites da Banques La "City National Bank" de Greenville Mich. 8 suspendu ses paiements. Est fermée également la "Ridgeway Bank" de Ridg way Pa. Passif 236000 doilars. La Todd County Bank de Long Praire Minn a fait faillite. La "St Paul & Minneapolis Trust Co" de Minnespo'is dont l'ex gouverneur A. McGill est président a déposé son bilan. L'inspecteur des banques M. Caldwele a ordonné la fermeture de la "Cty National Bank" de Greenville Mich. Passif encore inconnu. La "Queen City Bank" de Buffulo N. Y. ayant un capital de 600,000 dollars a suspendu ses paiemente. Fredman & Fredman de Chicago ont déposé leur bilan ainsi que Sherman & Byrne de New-York et Creety & Noyes de Boston. L'American Exchange Bank de Minheapolis a fermée BES portes. La "First National Bank" et la Commercial Bank" toutes deux de Santa Anna Cal. n'ont pas ouvert leuis portes samedi dernier. Les portes de la "Peoples Bink" de Pomoma Cal. sont restées her métiquement closes lundi matin. La "Bank of Commerce" de San Diego, Cal. a fait faillite. Il en est de même de la "Loan & Savinga Bank" de Tresno Cal La "State Bank" et la "Bank of New England" de Minneapolis ont suspendu leurs paiemente. MM. B iri et Bradly de Chicago ont fait faillite. Passif 400,000. Tombées également: "The Sabina Bank" of Wilmington, Ohio et la "Bank of Ness City," Kansas. Quand donc la serie sera-t-elle terminée?

15. June 29, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, June 29, 1893

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Washington, June 26.-Checks in payment of the anticipated July interest were all mailed by United States Treas. urer Morgan Saturday might. The free coinage men will open headquarters here in a few days for the purpose of disseminating free silver literature for and the assignment of speakers to advocate the cause in the western and southern states. They intend to make a hot fight for the white metal. Fresno, Cal., June 26.-The Savings and Loan bank opened for business this morning after being closed one day. The bank is perfectly sound. Wilmington, N. C., June 26.-Huske & Draper, retail dry goods merchants, assigned today. No statement is obtainable. Cheser, Pa., June 26.-The Crum Creek Iron & Steel company assigned. Liabilities about $120,000 and assets $119,000. San Diago, Cal., June 26.-The bank of Commerce, which suspended three days ago during the panic, reopened this morning. No further run was made on it.

16. June 30, 1893 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, June 30, 1893

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San Diago, Cal., June 26.-The bank of Commerce, which suspended three days ago during the panic, reopened this morning. No further run was made on it.

17. June 30, 1893 The Hawaiian Star Honolulu, HI
Article from The Hawaiian Star, June 30, 1893

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NATIONAL BANKS SUSPENDED. Two Failures at San Diego, but No Fears of More Trouble. SAN DIEGO, June 21.-All of the local banks opened their doors at the usual hour this morning, and for the first half hour only an ordinary amount of business was transacted. It then became noticeable that there was to be an unusual demand from depositors. Several large checks were presented at the Consolidated National by anxious individuals who feared a run and hoped to forestall other depositors. As soon as it became apparent that a run had commenced, payments were suspended. The news that these banks had closed spread quickly about town, pre cipitating a run on the First National, the Bank of Commerce and the Savings Bank. The First National endured the pressure until after I o'clock, when the doors were closed. The San Diego Savings Bank being in the same room, it was at first sup posed that it had also failed, but this proved incorrect, and the doors were opened on the demand of President Sefton and payment resumed. The run on the Bank of Commerce continued till the hour of closing. It is understood that its resources have been greatly strengthened, and the announcement is officially made that it will open in the morning. The Merchants' National, a bank recently, established, has its paid up capital in cash, in addition to nearly $100,000 in deposits, and no fears are entertained. New accounts were opened there by those withdrawing elsewhere, but general confidence is felt that there will be no further trouble here. The announcement is made that the banks which have suspended will pay the depositors in full, but no statement of the actual assets and liabilities can be secured.

18. June 30, 1893 The Times Owosso, MI
Article from The Times, June 30, 1893

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LATER, Gov. ALTGELD, of Illinois, has pardoned Schwab, Fielden and Neebe, the anarchists sentenced to state's prison on the charge of complicity in the Haymarket massacre May 4, 1886. Fielden and Schwab were sentenced to prison for life and Neebe for fifteen years. THE Crum Creek Iron & Steel Company at Chester, Pa., failed for $120,000. THE Bank of Commerce at San Diego, Cal., and the Savings bank at Fresno, Cal., which suspended recently, have resumed business. INDIA has stopped the free coinage of silver and decided to make gold the money standard of the country. AN explosion of molten iron in Rohig's iron works at Madgeburg, Saxony, killed six workmen and seven others were terribly burned. JAMES STEPHENSON was killed and his son fatally injured by a mad bull at their farm near West Union, O. THE Tremont hotel at Fort Scott, Kan., a four-story brick structure, collapsed, and though 100 persons were in the house no lives were lost as far as known. THE Pennsylvania democratic state convention will be held at Harrisburg September 19. ROBERT BURNS was instantly killed and Louis Johnson fatally injured by the falling of the stone coping of a Minneapolis bank building. S. & G. GUMP, dealers in art goods at San Francisco, made an assignment with liabilities, of $140,000. JOHN FITZTHUM was executed by electricity at Auburn, N. Y. He killed a young man named Raehl in Buffalo April 7, 1892. FRANK HAYES, aged 20 years, was found guilty of murder at Detroit and sentenced to imprisonment for life. THE New Hampshire state building at the world's fair grounds was dedicated, the principal address being delivered by Gov. J. B. Smith. THE firm of Mann Bros., clothing dealers at New York, failed for $250,000. KOZINE and Moneypenny (Indians) were found guilty at Madison, Wis., of the murder of Boneash and his sqaaw last fall. SOUTH CAROLINA'S liquor dispensary has begun business and all saloons would soon be closed. THE Bank of New England at Minneapolis, Minn., the Sabina (0.) bank, the Bank of New City, Kan., and the Queen City bank at Buffalo, N. Y., closed their doors. The liabilities of the latter bank were $2,828,754.

19. July 1, 1893 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, July 1, 1893

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THE Bank of Commerce at San Diego, Cal., and the Savings bank at Fresno, Cal., which suspended recently, have resumed business. WILLIAM RANSDELL was bitten by a tarantula at Lebanon, Ind., while hand.ing bananas. In the bunch of bananas a nest of 200 young tarantulas was found. Ransdall may recover.

20. July 1, 1893 The Dalles Times-Mountaineer Dalles, OR
Article from The Dalles Times-Mountaineer, July 1, 1893

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Easier Feeling in San Diego. SAN DIEGO, Cal., June 26 -Throughout the bank p&nic* which began here last Wednesday, the Bank of Commerce, of which Dr. R. M Powers is president, has been conducted in a way to steadily hold the lead in public confidence. This morning there was quiet rejoicing throughout the city on finding that its doors, which had been closed but three days, were again open and busine-s proceeding as usual. The first 15 minutes deposits of over $3000 were received and only about $100 paid out, and there were more deposits all through the day. than drawings of cash. F. N Pauly, whose instructions from Comptroller Eckles were to take possession of the two national banks, yesterday received instructions to examine and report as speedily as possible. He is now at work in the First National, and will be ready in two or three days to examine the Consolidated National.

21. July 6, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, July 6, 1893

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WEST AND SOUTH. THE firm of S. & G. Gump, dealers in art goods at Nan Francisco, made an assignment with liabilities of $140,000. THE death of Rev. W. W, Kone, aged 90 years, occurred at Denison, Tex. He was the oldest Baptist minister in the United States, having entered the ministry at the àge of 18, THE Bank of New England at Minneapolis, Minn, the Sabina (O.) bank and the bank of Ness City, Kan., closed their doors. The governor of Illinois has pardoned Michael Schwab, Samuel Fielden and Oscar Neebe, the anarchists sentenced to state's prison on the charge of complicity In the Haymarket massacre in Chicago May 4, 1886. Fielden and Schawb were sentenced to prison for life and Neebe for fifteen years. IN Detroit Frank Hayes, aged 20 years. was found guilty of murder and sentenced to imprisonment for life. THE Merchants' national bank at Moorhead, Minn., was entered by a masked man who covered the teller with a revolver and secured $2,600. T wo INDIANS, Kozine and Moneypenmy, were found guilty at Madison, Wis, of the murder of Boneash and his squaw last fall. At Lebanon, Ind., William Ransdell was bitten by a tarantula while handling bananas. In the bunch of bananas a bunch of 200 young tarantulas was found. Ransdell may recover, THE state liquor dispensary of South Carolina has begun business and all saloons would soon be closed. THE Savings bank at Fresno, Cal., and the Bank of Commerce at San Diego, Cal., which suspended recently, have resumed business. ON a bicycle H. H. Wyllie made the 1,000 miles from New York to Chicago in ten days and four hours. BERRY won the cowboy race to CHP began at Chadron, Neb., June 13. making the 1,040 miles in 13,days, 15 hours and 35 minutes-an average of 77 miles daily. Wine attempting to escape from the prison at Folsom, Cal., three convicts were shot dead by guards. AT Edinburg, Ill., G. P. Harrington, bankers failed for $200,000. American exchange bank of Minneapolis, Minn., and the Second national bank of Ashland, Ky., closed their doors. THE failure was reported of the Bedford (Ind.) Stone Quarries company, the largest producers of politic lime stone the world