919. Pomona Bank (Pomona, CA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 6, 1889
Location
Pomona, California (34.055, -117.752)

Metadata

Model
gpt-5-mini
Short Digest
7337c9ac

Response Measures

None

Description

The Pomona Bank suspended in early August 1889 because it could not meet a depositor's $8,000 demand and had low cash and overdue notes; it resumed business Sept 3, 1889 paying 30% immediately. Articles explicitly describe it as a private bank owned by H. A. Palmer.

Events (2)

1. August 6, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to meet a depositor's $8,000 demand; low cash on hand and non-payment of overdue notes reduced deposits from $185,000 to about $50,000.
Newspaper Excerpt
The Pomona Bank suspended business today on account of their inability to meet the demand made by a depositor for $8,000.
Source
newspapers
2. September 3, 1889 Reopening
Newspaper Excerpt
The Pomona Bank resumed business to-day and will pay depositors immediately thirty per cent. Depositors seem in no hurry to take advantage of the offer, now that the safety of the funds is assured.
Source
newspapers

Newspaper Articles (6)

Article from Los Angeles Daily Herald, August 7, 1889

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Pomona Bank Embarrassed. POMONA, Cal., August 6.-The Pomona Bank suspended business today on account of their inability to meet the demand made by a depositor for $8,000. Confidence is expressed in the integrity of the bank officials, and the general opinion is that the bank will resume business in a few days.


Article from Tombstone Daily Epitaph, August 8, 1889

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SPECIAL TO THE DAILY EPITAPH. For Forgery. NEW YORK, Aug. 7.-E. S. Allen, President of the Forty-second street car company, has been arrested for forging certificates of stock to the amount of 7,000 shares. Couldn't Stand a Demand for $8,000. Pomona, Aug. 7.-The Pomona bank suspended business to-day on account of its inability to meet the demand made by a depositor for $8,000. Confidence is expressed in the integrity of the bank officials, and the general opinion is that the bank will resume business in a few days.


Article from Sacramento Daily Record-Union, August 8, 1889

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Mystery at Prescott. PRESCOTT (A. T.), August 7th.-D.S. Scoville, a mining man from Chicago, had his throat mysteriously cut about 2 o'clock this morning, while on his way to his room at the hotel. He and a companion and mining partner, named Donnelly, had been making a night of it, visiting the various saloons, and had both accompanied a singer from one of the saloons home. Half an hour later Scoville was heard crying for help, and was found weltering in a pool of blood on the street corner. His wound is serious, but probably not fatal. Donnelly's hand was covered with blood, but neither he nor Scoville remembers anything concerning the affair. The cut in Scoville's throat is three inches long and about an inch and a half deep, and within the sixteenth of an inch of the carotid artery. Great Council of Red Men. SAN FRANCISCO, August 7th.-The Great Council of the Improved Order of Red Men to-day elected the following officers: George H. Buck, of Redwood City, Great Sachem; J. P. Counts, Sacramento, Great Senior Sagamore; Fred Brandt, San Francisco, Great Junior Sagamore; J. J. Buckley, Sacramento, Great Prophet; H. S. Winn, San Francisco, Great Chief of Records (re-elected); Adam Smith, San Francisco, Great Keeper of Wampum (reelected): Henry A. Chase, San Francisco, Great Representative to the Great Council of the United States, for two years; Benjamin F. Josselyn, Davis Lourderback and J. P. H. Wentworth, Great Trustees. Pretty Cute, but Unsuccessful. WALLA Walla (W. T.), August 7th.To-day two prisoners at the Penitentiary attempted to escape from the brick-yard, where four of the convicts were unloading a clay train. They jumped on an engine and. opening the throttle valve, attempted to speed out into the country, where they could have fled to the foothills. But the clay which had fallen between the cars on the track during the process of unloading prevented the cars from moving, and the would-be escapes were captured and returned to their cells. If they had uncoupled the engine before boarding it, the effort to escape might have been successful. Pomona's Bank Suspends. POMONA, August 7th.-The Pomon Baank closed its doors yesterday morning and suspended business. Cause, demand of depositor Louis Phillips for the amount of his claim of $8,000, which the bank was unable to meet. The last quarterly report of the bank shows the amount of cash on hand less than $7,000. Due depositors and other banks, over $100,000. President H. A. Palmer says the bank will resume in a few days. Palmer claims that the reason of failure is non-payment of over-due notes, which the bank failed to press. Glad to Get Back. MARYSVILLE, August 7th.-A family of emigrants in two wagons passed through Marysville to-day from Oregon. They left California five years ago, and have not since stopped in one place more than six months at a time. They found no country equal to California, and are glad to get back. Drowned at Ocean Beach. SAN DIEGO, August 7th.-Eugene Learn and a friend, whose name is unknown, were drowned at Ocean Beach to-day by the capsizing of a boat. The bodies have not been recovered. Learn leaves a wife and three children at Roseville. Don't Like the Idea. SAN FRANCISCO, August 7th.-The proposition made by Dr. Ayers to establish and maintain a Home for Indigent Pioneers does not meet with favor with the members of the Pioneer Society, who say they do not wish to establish an almshouse for unfortunate old-timers. An Extended Vacation. Los ANGELES, August 7th.-Brady, the accomplice of Jordan in the murderous assault on and robbery of Mrs. Cuddeback, was sentenced to-day to eight years in San Quentin. Jordan, who led in the job, was sent to Folsom for twenty years. Senator Stanford's Horses. SAN FRANCISCO, August 7th.-It is reported that Senator Stanford will remove all of his horses from Palo Alto to Pleasanton, because they do not do as well at the former place as they ought to. Fire at Marysville. MARYSVILLE August 7th.-A fire to day destroyed the frame residence of John Pepper, opposite the plaza. Lose, $2,000; partly insured. The fire caught from a de fective slovepipe.


Article from Los Angeles Daily Herald, August 8, 1889

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DEPOSITORS SAFE. Report of Bank Commissioners on the Pemona Failure. SAN FRANCISCO, August 7.-The Bank Commissioners have made the following statement regarding the suspended Pomona Bank: The Pomona Bank is really a private bank under a cerporate form, owned by one H. A. Palmer. In addition to the bank, Palmer has a large amount of miscellaneous property which was carefully estimated last year and stated to be worth at least $100,000. The withdrawal of deposits in all the Southern California banks has been steady for about eighteen months. this bank meeting a greater demand proportionately, perhaps, than any other one. Its deposits had been reduced from $185,000 to about $50,000. We believe the depositors to be entirely secured, and that the bank can resume business, if so disposed.


Article from The Pioche Weekly Record, August 24, 1889

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Electrical street cars are now in opera. tion in Salt Lake City. Cattle are perishing up in Montana on account of the drouth. An immense deposit of mineral soap has been found near San Diego. J. J. McEvilly of Helena, Montana, has been appointed a military cadet. George Gray of Susanville has gone insane from disappointment in love. Every vessel leaving San Diego now carries from ten to fifteen tons of honey. Orange county has adopted as its of. ficial seal an orange with S stem and three leaves. The Catalina Jewfish is the name of a newspaper published at Avaton, Catalina Island. Three men have died in Tucson within a few days from drinking ice water in large quantities. Another little diphtheria patient-the fifth-has been sacrificed under the faith cure in Los Angeles. The Pomona Bank suspended Tuesday. It was unable to pay the demand of & depositor for $8,000. A prominent builder of Seattle states that one billion bricks will be required to rebuild that city. The Lord favors the Gentiles, as is seen in the fact that it has rained in election. Salt Lake City every day since the late e Paul Salfert has discovered & valuable e mica deposit in the Maricopa Mountains, e Arizona. He has obtained blocks eight IS inches square. of d In Stockton it is expected that within & month or two gas for both light and n fuel will be furnished for 50 cents a month per family. at 10 John White, alias John Pearson, re talked scandal about two ladies at San Jacinto, San Diego county, and & few days ago they waylaid him and gave he him a horsewhipping, the husbands of g the women standing by as witnesses. ly n. Three new strikes are reported at San 8, Pedro, N. M., which have set the pros. k* pectors wild again. Carbonates of cop. es per running 30 per cent. copper and car. e. rying some gold, were struck in a 10. foot shaft on a new claim owned by the Santr Fe Copper Company. A number of prominent stockmen rech siding in the vicinity of Cheyenne are on arranging for a grand wolf hunt. An es. tly pecial desire among the organizers is to or" catch a pack of eight large timber wolves No that are known to run together and ng which do not hesitate to attack the £4, larger animals of the range. ona The 13 year-old daughter of A H. E. Rose walked out of a second story win wn dow of the Byrns Hotel at Woodland, reFriday night in her sleep. She fel an. about three feet into the glass roof of barber shop, alighting astride of one o ce, enthe beams supporting the roof, and he ort only heel. injury was 3 cut by the glass on on Robert Burke and his wife were or ver the train going from Suisum to Cordeli The tin last Thursday when Robert fell off. H her was picked up by the trainmen, wh repronounced him dead, and the body wa vice put on board and resumed its trip. Be A. fore Cordelia was reached, Burke re eter vived and astonished his weeping wife b cial matter. sitting up and asking her what was th as ank In the vicinity of St. Regie, in th ther Coeur d'Alene country, the fires have rees driven the miners out of the mountain All the provisions and valuables were r moved from the cabins and eith thrown into shafts along with the too aing and there buried or were stored away ging tunnels. Then the men- retreated dow aid: the mountains before the approachi sea of fire. ting Down in San Francisco last Monda talk Henry Wormbold was found in the M Got sonic cemetery drinking sewage water and when asked what he did it for sa it was the water of life and had ke out him alive for more than 2,000 years. what also labored under the hallucination th I he was Jesus Christ, and had been se to restore the world to the condition law which it was during the Saviour's tim the The amount of the debt of Altur ager county, Idaho, on the 27th of July, 18 was $351,282 99. There is inst abs ners


Article from Sacramento Daily Record-Union, September 4, 1889

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is about $1,000. Fatal Fall. MODESTO, September 3d.-At 12 o'clock last night as Henry Harwick and friend named Parker were driving across the Tuolumne river bridge near Modesto, a drunken man was found asleep on the a proach to the bridge, which started horses. Harwick called to the man, who got up and climbed over the railing of the bridge and fell to the ground, twentp feet. When found, his face was smashed to a jelly. He was taken to the County Hospital, where this lungs were found badly ruptured. Since the accident he has been unconscious and cannot live. The man was a tinker and had camped near bridge before the mishap. His age years, a native of Austria, but his name known. Auburn Fair. AUBURN, September 3d.-The interest in the Placer County Fair continues. Fruit is still coming in. Enthusiastic citizens are exhibiting curios, to add interest to the regular Fair. At the Fair grounds there was a walking match to-day for farm teams, driven to wagons. Hoffman Brothers team won in 5:56. Besides some local racing and amusements in town, two fire companies ran 142 yards and threw water through 150 feet of hose to a line 225 feet from the plug, Au burn, No. 1. winning in 31 seconds; Com pany No. in 33 seconds. To-morrow afternoon a band contest and stock parade takes place at the park. Bull-Fighting in Arizon TUCSON (Ariz.), September 3d.- Citi- A zen's special from Globe to day says violent hail and rain storm swept over the yesterday afternoon. Two-thirds of the city soldiers' quarters were blown down and several hundred dollars worth of tents and other Government property was destoyed. St. Augustine's Fiesta was inaugurated last week, and gambling and bull fights a the order of the day. Sunday four bulls were turned into the arena and tortured by matadores, but the City Marshal prevented them from killing the animals. Fully thousand Mexicans and gamblers are here. Nevada County Forest Fires. GRASS VALLEY, September 3d. -Great forest fires are burning on three sides of the city, but several miles out. Much fencing and valuable timber have been destroyed. Not a week has passed in the last two months without a disastrous fire of this kind, and the aggregate loss is many thous- ob ands of dollars To day the sun is scured by smoke, and fires are reported from half a dozen points. Not a few fires have their origin in malice, and the ranchers have adopted the shot-gun policy. Heavy Washouts. TUCSON (A. T.), September 3d.-Heavy rains east of Tucson last night washed the tracksof the Southern Pacific Company badly between Benson and Pantano. About seven miles of track are reported badly damaged and all the trains abandoned Train 19, east-bound passenger, was held here all night, and train 20. west- bound, was held in Benson, and there are doubts of their getting out to-day. Parts of six culverts and one bent of bridge No. 109 are gone. Washington Republican Convention. WALLA WALLA W T.), September 3d The city is rapidly filling up with delegates to the first State Republican Convention. Dozens of candidates are in the field for office, but the choice for Governor every favors E P. Ferry of Seattle and Dunbar Goldendale. J. L. Wilson of Spokane Falls and Weir of Port Townsend are for Congress. Chico Normal School. CHICO, September --The opening today of the Normal School was most gratifying to the Trustees and teachers, about seventy students having passed the examination and enrolled. The public schools opened yesterday with an attendance of over 500 scholars This is a pretty good showing for the first day. Jury Failed to Agree. SANTA CRUZ, September -The jury in the case of J. B. Peakes, who refused to entertain J. P. Cooper a reporter for the Surf guest at the Pacific Ocean House, was unable to agree, standing seven for acquittal and four for conviction. It is regarded as a virtual victory for Mr Peakes. The case has been on trial since last Thursday. Run Over and Killed. PORT COSTA, September 3d.-While switching at the California ware-house fireman Arthur Jones of engine 210 his footing and fell under the moving cars and was badly mangled, his right and arm being crushed to a jelly. He once taken to Oakland for surgical aid. He died at 11 M. Republican Elected. Los ANGELES, September 3d.-An_election was held in the Fifth Supervisorial District to-day to elect a successor to the Supervisor who was taken by the new county of Orange. R. H. Hubbard (Republican) obtained a safe maj jority over R. Patterson (Democrat). Shooting at Merced. MERCED September 3d A saloon-keeper named Pat Conway was shot and severely wounded last night in a disreputable part of the town. John Kilfoy, a young man about town is cbarged with the shooting and is now in jail. The weather to-day is extremely hot, the mercury rising to 108° in the shade. Sealing Schooner Lost. VICTORIA B. C.), September couple of Indians arrived in canbes this afternoon with news of the wreck a few days ago of the sealing schooner Theresa, on the west coast near Cape Beale. She went ashore in a fog. All hands were saved. The vessel probably is a total loss. Sudden Death. Treson, September 31-D. D. Hall a prominent citizen and distinguished Mason, dropped dead last night of heart dis- He ease while conversing with friends. will be buried with Masonic honors by the Blue Lodge to-day. Pomona Bank. POMONA, September 3d.-The Pomona Bank resumed business to-day and will pay depositors immediately thirty per cent. Depositors seem in no hurry to take advantage of the offer, now that the safety of the funds is assured. Barn Burned. PINOLE, September 3d.-The large barn of C. Ellerhart. containing fifty tons of hay and 200 sacks of grain, were burned this afternoon. Loss, $2,000. It was oninsured Sonoma Railroad Building. SANTA ROSA September 3d.-The Santa Rosa and Sebastopol branch road, broad