9238. Central Michigan Savings Bank (Lansing, MI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
April 18, 1893
Location
Lansing, Michigan (42.733, -84.556)

Metadata

Model
gpt-5-mini
Short Digest
1a50f692

Response Measures

Capital injected, Full suspension, Books examined

Other: State Banking Commissioner Sherwood took possession; later a receiver was appointed.

Description

Multiple articles report a run on April 18, 1893 triggered by the embarrassment of two large local manufacturing concerns (Lansing Lumber Co. and Lansing Iron & Engine Works). After paying out about $65,000 the State Banking Commissioner Sherwood took possession and closed the bank (government action). Attempts to reorganize failed and a receiver was appointed in May 1893.

Events (3)

1. April 18, 1893 Run
Cause
Local Shock
Cause Details
Run was precipitated by the financial embarrassment/mortgaging of two large local manufacturing firms (Lansing Lumber Co. and Lansing Iron & Engine Works) whose paper the bank held
Measures
Paid out about $65,000 to depositors during the run; bank later closed by the State Banking Commissioner for protection of depositors
Newspaper Excerpt
A run commenced on the Central Michigan Savings bank this afternoon as a result of the embarrassment of the Lansing Lumber company and the Lansing Iron and Engine works
Source
newspapers
2. April 18, 1893 Suspension
Cause
Government Action
Cause Details
State Banking Commissioner Sherwood took the bank into custody and closed its doors after the run; closure described as for protection of depositors
Newspaper Excerpt
Banking Commissioner Sherwood took possession and closed the doors for the protection of depositors
Source
newspapers
3. May 9, 1893 Receivership
Newspaper Excerpt
George W. Stone ... was last night appointed receiver of the Central Michigan Savings Bank by Judge Person. Bonds were fixed at $100,000.
Source
newspapers

Newspaper Articles (24)

Article from Daily Kennebec Journal, April 19, 1893

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A HEAVY FAILURE At Lansing. Mich. Involving Two Business Companies and a Bank. LANSING, Mich., April 18.-The Lansing Lumber Company and the Lansing Iron and Engine Works today executed to Orlando M. Barnes mortgages on all their property to secure their paper, of which he is a large endorser. All the assets of the two concerns, aggregating $1,800,000. were placed in his hands. It is said the liabilities will not exceed more than half that sum. The embarrassment of the two institutions was caused by the stringency in the money market. The state banking commissioner today took charge of the Central Michigan Savings Bank of this city. There was a run on the I ank all today owing to the uneasy feeling on account of the embaraassment of the Lansing Lumber Company and Lansing Iron and Engine Works. A statement of the bank's condition has not been made public.


Article from The Wichita Daily Eagle, April 19, 1893

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FAIL URES. NEW York, April 18.-The announcement of the failure of Thomas M. Barr & Co., of 107 Front street, coffee brokers, was made on the coffee exchange shortly after noon today. Upon the announcement prices weat off considerably. Barr & Co. acted as brokers for George Kattenlach, the big European plunger, whose corner in coffee collapsed a few days ago, The liabilities are between $275,000 and $300,000. LANSING, Mich, April 18.-The e Lansing Lumber company and the Lansing Iron and Engine works have given mortgages to O. M. Barnes on all their property, to secure him as indorser upon most of their outstanding paper. This action is the result of a conference of all the creditors. The assets are stated at about $1,800,000, with liabilities at about $1,000,000. A run commenced on the Central Michigan Savings bank this afternoon as a result of the embarrassment of the lumber company and the iron works and the feverish excitement attendant. After $65,000 had been paid out Banking Commissioner Sherwood took possession an d closed the doors for the protection of the depositors. O. M. Barnes, the mortgagee. announced that, with his private fortune in addition to the property transferred to him, he will have $2 for each 81 of liabilities.


Article from The Record-Union, April 19, 1893

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IN FINANCIAL TROUBLE. A Lumber Company and Iron Works Mortgage Their Property. LANSING (Mich.), April 18.-The Lansing Lumber Company and Lansing Iron and Engine Works given mortgages to O. M. Barnes on all of their property, to secure him as indorser on most of their outstanding paper. The assets are stated at about $1,800,000, with liabilities of about $1,000,000. A run commenced on the Central Michigan Savings this afternoon as a result of the embarrassment of the lumber company and iron works, and feverish excitement was attendant, but after $65,000 was paid out Banking Commissioner Sherwood, in anticipation of a panic, took possession and closed the doors for the protection of depositors. O. M. Barnes, the mortgagee, announces that with his private fortune, in addition to property transferred to him, he will have $2 for each dollar of liabilities. The President of both embarrassed firms is Orlando F. Barnes, son of O. M. Barnes, and he is President of the bank upon which the run was made.


Article from Grand Rapids Herald, April 19, 1893

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RUN ON THE BANK The Central Michigan Savings Bank at Lansing FORCED TO CLOSE ITS DOORS Mortgages Given by the Laming Lam. bee Company and the Engine Works licared Some Depositors LANSING, Mich, April 18-There has been a considerable flurry of excitement in financial circles in central Michigan during the past two days. caused by the embarransment of the Lansing Iron & Engine works and the Laneing Lumber company. two leading manufacturing institutions of this city, A cridis was reached today when the institutions named filed mortgage upon their real and personal property to the amount of $701,000 in favor of Orlando M. Barnes, who has indoreed a large amount of their paper. A feeling of insecurity at once arose among the depositors of on tain banks, which have been dealing in the paper of the companies mentioned, and & sudden and wholly unexpected run was made upon the Central Michigan Savings bank. After meeting all the demande of depositors for several hours. Cashier Bradley. upon the advice of State Banking Commissioner Sher woed, at 3 o'clock this afternoon closed the doore of the bank The state bank ing commissioner is now in charge. The managers of the bank maintain that the institution is perfectly solvent and in a few days its doors will be reopened. Stand by the Hank. They say that no bank in the state could be expected to withstand . run of this kind, as any one familiar with the business knows how impossible it would be for any bank to pay all the depositors within a few hours. The utmost contidence in the ability of the bank to pro ceed to business is expressed by citizens and business men generally, many of them continuing to make their daily de posits while the run wan in progress. There is. however, considerable nervous news on all sides, and Lansing has never before, even when James M. Turner failed, witnessed such a financial con vulsion. O.F. Barnes is the president of both the Lansing Iron & Engine works and the Lansing Lumber company. Both are extensive manufacturing concerns and the latter has large interests at Dodge and Clare, in Clare county. Michigan The Hon. Orlando M. Baruce is the father of President Barnee of these in stitutions, and a gentleman of extensive wealth. rare business experience and strong influence. In 1878 he was the democrat candidate for governor of the state and at present is a member of the central board of prison inspectors What Mr. Narma Carries became indoreor upon the paper of of and the in the president He institutions latter which becoming his son is the were and the in as volved. property mortgages placed his the hands difficulty. filed the best solution of Mr. now has in as for the debts security Barnee possible of three his hands two com whose paper $1,600,000 to available panica upon property $1,800,000. aggregating he is His indoreer. in value own estate is worth of $1,000,000. from borhood personal The in the liabilities neigh assumed are not to which exceed which he $900,000. constitutes thought his entire indebtedness portion paper upon M. Barnee in The largest O. of indoreer the is held banks of this city, amount is held by the by larger which the which while closed Central the its Michigan Savings bank doors this afternoon. a examination of its affairs Comunissioner that gentleman expresses by afternoon From Bank hasty Sherwood this the that the institution is perfectly and will be able to without permanent polvent belief ligations meet embarrass its ob The other banks of perfectly safe considered ment. and the only city lim. are are ited of the Barnes paper held them. Unless by amounts the for alarm. depositors, per who have no just reason eint in losing their heads and precipitate ex another run, no further trouble is pected.


Article from The Helena Independent, April 19, 1893

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BUSINESS FAILURES. / Big Concerns in Lansing, Mich., Go to the Wall. LANSING, April 18.-The Lansing Lumber company and the Lansing Iron and Engine works have given n mortgage to O. M. Barnes on all their property to secure him as endorser upon the most of their outstanding paper. Their assets are stated at about $1,800,000, with liabilities about $1,000,000. A run commenced on the Central Michigan Savings bank this afternoon as n result of the embarrasement of the lumber company and iron works, and the feverish excitement attendant. but after $65,000 were paid out Banking Commis. mioner Sherwood. in anticipation of a panic, took possession and closed the doors for the protection of depositors. O. M. Barnes, the mortgagee. announces with his private fortune, in addition to the property transferred to him, he will have $2 for each dollar of liabilities. The president of both of the embarrassed firms is Orlando F. Barnes, son of O. M. Barnes, and president of the bank upon which the run was made. NEW YORK, April 18. - The failure of the old and well known coffee brokerage house of Thomas Barr & Co. was announced on the coffee exchange this afternoon. The firm are brokers for George Kattenlack, the big European plunger, whose corner in coffee collapsed a few days ago with the result of a big drop of over 200 pointe in prices in the past three days. His failure dragged down his brokers. The firm carried contracts to the extent of 80,000 bags of coffee, besides cotton contracts. Liabilities $309,000. BUFFALO, N. Y., April -George W. Smith & Sons, lumber dealers, also under the firm name of the Niagara Manufacturing company, and also under the name of the Vincent Cycle Manufacturing company, made an assignment for the benefit of creditors. Liabilities $100,000, assets unknown. MILWAUKEE, April 18.--The immense coal yarde and docks of the Lehigh and Franklin Coal company. have been seized by the sheriff on attachments aggregating $68,000. A number of garnishee suits were also begun.


Article from The Morning News, April 19, 1893

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A BIG CONCERN HARD UP. The Fact Causes the Suspension of a Bank at Lansing. LANSING, MICH., April 18.-The Lansing Lumber Company and the Lansing iron and engine works this afternoon executed to Orlando M. Barnes mortgages upon all their property, both real and personal, to secure their paper, of which he is a large indorser. All the assets of the two concerns, aggregating $1,800,000, are placed in his hands. It is said that the liabilities will not exceed more than half that sum. The embarrassment of the two institutions was caused by the stringency of the money market for the past few weeks. At 3 o'clock this afternoon State Banking Commissioner Sherwood took charge of the Central Michigan Savings Bank of this city. There had been a quiet run on the bank all day owing to an uneasy feeling on account of the embarrassment of the Lansing Lumber Company and the Lansing irou and engine works. A statement of the bank's condition has not yet been made public.


Article from The Morning Call, April 19, 1893

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SECURED HIS SON. A Michigan Panic That Amounts to Little or Nothing. LANSING, Mich., April 18.-The Lansing Lumber Company and the Lansing Iron and Engine Works have given mortgages to O. M. Barnes on all their property to secure him as the indorser upon most of their outstanding paper. The assets are stated at about $1,800,000, with liabilities of about $1,000,000. A run was commenced on the Central Michigan Savings Bank this afternoon as the result of the embarrassment of the lumber company and the Iron works, and a feverish excitement was attendant upon it,


Article from Fort Worth Gazette, April 19, 1893

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HEAVY MICHIGAN FAILURE. Lansing, Mich., April 18.-The lumber company of the Lausing Iron Englue works have given mortgages to O. M. Barnes on all property to secure him as endorser upon most of their outstanding paper. This no. tion Is the result of a conference of all creditors. The assests are stated to be $1,800,000, with liabilities of about $1,000,000. A. run commenced on the Central Mehigan Savings bank this afternoon as a result of the embarrassment of the number company and iron works and feverish exeitement was attendant. After $65,000 had been paid the bank commissioner, who were on the ground in anticipation of a panic, took possession and closed the doors, for the protection of depositors. It is reported that it will be somewhat problematical whether the doors of any of the banks will open tomorrow, acting under advice of the commissioner, whose opinion, 11 is that the time for banks to close is before a PUBL begins, which gives It the ad. vantage of possessing all its funda Intact to aid in quieting excitement O. M. Barnes, the mortgagee announces that with his private fortune in addition to property trausferred to him he will have two dollars for each dollar due.


Article from The Indianapolis Journal, April 19, 1893

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Financial Troubles in Michigan, LANSING, Mich., April -There has been a considerable flurry of excitement in financial circles in central Michigan during the past two days, caused by the embarraesment of the Lausing iron and engine works and the Lansing Lamber Company, two leading manufacturing institutions of this city. A crisis was reached today when the institutions named filed mortgages upon their real and personal property to the amount of $701,000 in favor of Orlando M. Barnes, who has indorsed a large amount of their paper. A feeling of insecurity at once arose among the depositors of certain banks which have been dealing in the paper of the companies mentioned, and a sudden and wholly unexpected run was made upon the Central Michigan Savings Bank. After meeting all the demands of depositors for several hours, Cashier Bradley, upon the advice of State Banking Commissioner Sherwood, at 3 o'clock this afternoon, closed the doors of the bank. The State Banking Commissioner is now in charge. Richmond Dry-Goods Merchant Fails. Special to the Indianapolis Journal. RICHMOND, Ind., April 18.-W. E. Ballen. ger, a prominent dry-goods merchant. failed this evening for $26,000. Overpurchases and light trade 18 the cause assigned. The preferred creditors are the Second National Bank of this city, for $12,000, and the Union National Bank for $8,500. This eve ning mortgages to secure these some were filed, and the keys of the store turned over to the banks. There are a number of other creditors, but the amount of unsecured indebtedness is not yet known. The assets are estimated at $35,000.


Article from Grand Rapids Herald, April 20, 1893

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HAD A SMALL PANIC Run on the Ingham County Bank Yesterday SAVED BY THE 90-DAY LIMIT The Crisis of the Laneing Banks Has Been Passed and Confidence le Restored. LANSING, Mich. April 19.- The condition of bank affairs this morning was little changed from last evening. Most ridiculous rumore had been net affoat, and they assumed gigantic proportions during the night. and early this forenoon women and workingmen could be seen hurrying to the respective banks with their bank books. bound to withdraw their deposits. The Ingham County Savings bank sustained the worst siege, and at the time of opening a largecrowd had gathered. The Central Michigan, whose doors were closed yesterday. had but a few applicants for admission. However, the banks had all made provision for this emergency. Last evening the directors of all the banks met at the Downey house to dis cuss and consider the situation. Bank Commissioner Sherwood and some Detroit capitalists were present. It was decided to take advantage of the law. and the ninety day limit was instituted. so that no savings deposits will be paid until the expiration of that time. only commercial and certificate business be ing done. This action was considered necessary and best by all concerned, as the savings depositors had become feightened and no bank could stand the result. Condemns Moffat. Yesterday afternoon a run of some $20,000 was made on the Ingham County Savings bank. The panic this morning seemed to touch the Ingham County bank especially, and even the commercial depositors began to draw heavily. In fact the bank became crowded. and many were waiting on the street. Bank Commissioner Sherwood was notified. and soon arrived at the bank. He mounted a chair and began to address the people. assuring them that there was no need for alarm. and that for the good of the city and themselves they had better go home and attend to their business. He strongly condemned the action of the vice president of the bank. who yesterday drew out several thou. sand dollars and at the same time tendered his resignation. The crowd. with cheers for Sherwood and groans for Moffat. the vice president, went away evidently satisfied. The Crisis Passed. The commissioner and his assistants are now busily engaged in examining books of the Central Michigan Savings bank. and are preparing a statement which is now impossible to obtain. The bank has a capital stock of $165,000 and a surplus of $100,000. The last state. ment made by this bank on December 16. 1892. showed that its resources and liabilities amounted to $920,601.01. It is believed now that the crisis is passed and that no further bad effects will be felt from the failures announced yesterday. There is not a riffle of ex eitement this afternoon. The action of J.S. Moffat. who, as vice president of the Ingham County bank. withdrew his funds and thereby created the impression that depositors had better get in out of the wet. is thoroughly condemned on all sides. The bank commissioner expects to conclude his examination of the Central Michigan tomorrow. and not until then will the assets and liabilities be known.


Article from The Helena Independent, April 20, 1893

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Will Tide Over the l'auic. LANSING, Mich., April 19.-Owing to the uneasiness created by the financial difficulties of the Lansing Lumber company, and the Lansing Engine works, run was precipitated on the Ingham County Savings bank this morning. The doors of the bank were besieged all the morning. Finally the management decided to avail themselves of the legal provision allowing them to require ninety days notice on savings deposits. This gave a decided relief as the commercial depositore were calling for very little. The state bank examiner 18 assured that the Ingham bank is perfectly sound and nobody will lose anything. O. M. Barnes, to whom the lumber and engine companies gave mortgages yeste:day, announced that he can take care of the paper he endorsed, and that the other creditors will lose nothing. The Central Michigan Savings bank which closed vesterday. will, it 18 said. have ample funds to meet all demands. The deposits aggregate $500,000. All the savings banks have decided to take advantage of the ninety day clause in order to tide over the panic.


Article from Little Falls Herald, April 21, 1893

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To Secure an Endorser. Lansing, Mich., April 19.-The Lansing Lumber company and Lansing Iron and Engine works have given mortgages to Hon. O. M. Barnes on all L.eir property to secure him as endorser upon the most of their outstanding paper. This action is the result of a conference of all the creditors. The assets are stated at about $1,800,000, with liabilities of about $1,000,000. A run commenced on the Central Michigan Savings bank this afternoon as a resuit of the embarrassment of the lumber company and the iron works and the feverish excitement attendant. but after $65,000 had been paid out Banking Commissioner Sherwood, who was on the ground in articipation of a panic, took possession and closed the doors for the protection of depositors. It is reported to be sotnewhat problematical whether the doors of any of the banks will open to-morrow, acting under advice of the comunstioner. whose opinion it is that the time for a bank to close is before a run begins, which gives it the advantage of possessing all its funds intact to aid in quieting the excitement.


Article from Perrysburg Journal, April 22, 1893

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FINANCIAL FLURRY. The Failure of Two Leading Industries at Lansing, Mich., Causes a Bank to Close Its Doors, LANSING, Mich., April 19.-There has been a considerable flurry of excitement. in financial circles in central Michigan during the past two days, caused by the embarrassment of the Lansing Iron and Engine Works and the Lansing Lumber Company, two leading manufacturing institutions of this city. A crisis was reached yesterday when the institutions named filed mortgages upon their real and personal property to the amount of $701,000 in favor of Orlando M. Barnes, who has indorsed a large amount of their paper. A feeling of insecurity at once arose among the depositors of certain banks which have been dealing in the paper of the companies mentioned and a sudden and wholly unexpected run was made upon the Central Michigan Savings bank. After meeting all the demands of depositors for several hours, Cashier Bradley, upon the advice of State Banking Commissioner Sherwood an o'clock Tuesday afternoon, closed the doors of the bank. The state banking commissioner is now in charge. The managers of the bank maintain that the institution is perfecty solvent and in a few days its doors will be reopened.


Article from Grand Rapids Herald, April 28, 1893

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DOLLAR FOR DOLLAR. The Central Michigan Savings Bank will Pay All Obligations LANSING, Mich., April 27.-The state banking commissioner tonight completed his examination of the Central Michigan Savings bank, which closed its doors last week after u lively run. caused by the embarrassment of the Lansing Lumber company and iron and engine works A statement made by the commissioner tonight indicates that the bank will be able to meet all its ob ligations. dollar for dollar. even though the paper of the institutions named should prove utterly worthloss, a contin. gency not at all probable.


Article from Weekly Expositor, April 28, 1893

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MR. BARNES OF LANSING. A Distinguished Citizen's Fortune Seriously affected. Lansing has had such a fright over financial matters as would almost turn its citizens' hair gray. For sev eral days it had been noised about that a crisis was imminent in the affairs of the Lansing Lumber company and Iron and Engine Works, both of which institutions Orlando F. Barnes is president. The climax was finally reached when both companies gave Orlando M. Barnes, father of Orlando F. Barnes, mortgages upon all their property, real and personal, to secure their paper, upon the greater portion of which he is the sole indorser. The two mortgages therefore secure a total indebtedness of $701,000, which approximately represents the total liabilities of the two companies. By this arrangement, which was effected with the consent of all the Lansing banks which held a large proportion of the paper, O. M. Barnes practically assumes the ownership of both properties involved, and will combine his personal fortune, which will reach $1,000,000, with the assets of the companies, which represent an additional $800,000, for the purpose of meeting liabilities which will not exceed $900,000. Mr. Barnes is entirely confident that he will be fully able to meet the emergencies and says that every dollar of indebtedness will be paid. He will give the business of both concerns his personal attention. The fact that O. F. Barnes was also president of the Central Michigan Saving Bank precipitated a run on that institution and in a short time $29,000 in saving deposits was withdrawn. After consulting with Bank Commissioner Sherwood, who is in the city, Cashier Bradley decided that it was unfair to the majority of the depositors to permit the run to continue and SO closed his doors. Commissioner Sherwood at once took possession and the bank will remain closed pending his examination of its affairs.


Article from Rock Island Daily Argus, May 6, 1893

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A Lausing Bank Assigns. LANSING, Mich., May 6.-The efforts of the directors of the Central Michigan Savings bank to increase the capital stock and effect a reorganization with a view to resuming busn ess have proved unavailing. Commissioner Sherwood has petitioned the circuit court for the appointment of a receiver.


Article from New-York Tribune, May 10, 1893

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A MICHIGAN SAVINGS BANK FAILS. Lansing, Mich., May 9.-George W. Stone, of this city, who was Auditor-General of Michigan under the late Democratic Administration, was last night ap pointed receiver of the Central Michigan Savings Bank by Judge Rerson. Bonds were fixed at $100,000.


Article from Audubon County Republican, May 11, 1893

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Receiver for the Lansing Bank. LANSING, Mich., May 10.-Circuit Judge Person last night settled the matter of a receiver for the Central Michigan Savings Bank by appoint ng George W. Stone of Lansing, ex-Auditor-General of the State, to that position,


Article from The Washburn Leader, May 20, 1893

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General News. A wolf was captured in the street at Monmouth, Ill. R. A. Havenor, a grocer at Harlem, N. Y., has failed for $80,000. The reported killing of Lieut. Plummer by Indians is denied. Trolley men at Baltimore will strike for more pay. G. W. Stone is the receiver of the Central Michigan Savings Bank of Lansing. The United States will send a warship to Nicaragua, owing to revolutionary troubles. The water works at Alton, Ill., have been sold to the New England Water company. G. W. Crouch, Jr., a lumber dealer at Rcchester, N. Y., has failed. Assets, $100,000; liabilities, $75,000. The United States Trust company has taken a mortgage for $2,000,000 upon the New York & Susquehanna road. Henry Villard is figuring on a collateral trust loan of $15,000,000 to clear the debt of the Northern Pacific: The Philadelphia, Honesdale & Albany and the Philadelphia, Honesdale & Albany railroads have been consolidated. Lieut. W. M. Williams, Nineteenth cavalry, will be tried at Fort Wayne, Ind., by court martial, for failing to pay his debts. The manager of an English firm at the world's fair sells exhibits which were entered free of duty, and is arrested. A very romantic story comes from Tacoma regarding a former English army officer and his wife, once lady in waiting to the queen. George Rose of Liberty, Ind., quit chewing tobacco and used paper as a substitute. He died from poison in printing ink. J. H. E. Waters, a well known mining engineer, was found dead in bed at Denver. He was for years in the employ of the Japanese government. The city of Pueblo, Col.. proposes to save $100,000 a year by discharging half the numbers of the fire and police departments. Dr. H. J. Marks, a prominent St. Louis physician, died of blood poisoning incurred in performing a surgical operation. Heirs to land at Homestead, Pa., on which a part of the Carnegie works is located, are suing for the property on an old government deed. The tools of non-union teamsters and graders in Columbus, Ind., were destroyed. The union men, who are on a strike, deny any connection with the matter. Heirs of James Guthrie, ex-secretary of the treasury, have donated property in Madison, Ind., valued at $20,000, to the Southern Baptist Theological seminarr at Louisville, Ky.


Article from The Times, October 12, 1894

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# POSTPONED AGAIN. Case of Nelson Bradley of Lansing To Be Tried in January. LANSING, Oct. 10.-In the circuit court the case of ex-Cashier Nelson Bradley, who is charged with making a false report to Commissioner Sherwood of the condition of the Central Michigan Savings bank' was continued until the January term of court. Prosecutor Gardner reported that he had commenced a thorough investigation of the condition of the bank previous to its suspension. It has not yet been completed, owing to the pressure of other business. The prosecutor said that it would not be necessary to invoke the aid of the grand jury, and that if he found that any one should be prosecuted, he would experience no trouble in securing persons to make the necessary complaints.


Article from Alma Record, June 21, 1895

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STATE SIFTINGS. Dowagiac will put in a fire alarm system. Flushing has a prohibition club with 45 charter members. A thousand dollar clock will be put in the Cot gregational church tower in Olivet Claude Harrison of Bay City has been sentenced to 25 years in Jackson, for burg. lary. Dogs are killing sheep by the wholesale in Newton township, Calhoun county. One farmer lost 45 sheep in one night recently. Mrs. Samuel W. Scott of Stockbridge, aged 70 years, committed suicide in Plain well the other day by drowning. She had become despondent over continued ill health. Henry Monroe proprietor of a furniture store in Byron will spend the next two years in Ionia, having been convicted of burglary. There will be 728 graduates from the state university this year, divided as fol lov S: Laws. 3 0; 'lits, 250; chuts, 50; medics, 68; homeopathics, 10. Rev. J Bergman, aged 34 years, who is visiting his mother in Grand Rapids, at tempted suicide the other day by stabbing himself with a carving knife. He had be come unsettled in his religious convictions and has for some time been very despondent. The Central Michigan Savings bank of Lansing failed in 1893 at the end of a run during which $75,000 in deposits were withdrawn. Receiver Stone of the bank now says that all money paid out during the run on the bank must be returned. Mrs. Cornelius Grove and Mrs William Osborne of Pewamo attempted to cross the railroad track in front of a train. Mrs. Groye was killed, and Mrs. Osborne may die of injuries received, Rev. W. H. Gallagher of St. Pauls Episcopal church in Saginaw, acted as umpire in a base ball game the other day. The dwelling of Gustave Jacobs in south Owosso was burned the other day. Fireman Robert Smith rescued a three year old child just before the building fell in. Darius Thompson was cut in two by 8 train on the Detroit & Mackinaw railroad, near Prescott, the other day. Three sons of Al. Craig, who lives near Greenville, went into the barn to learn to smoke. Only two of them came out. The other boy and the b rn were consumed. A fair will be held in Manistee this fall by Mason, Lake, Benzie, Wextord and Manistee counties.


Article from Crawford Avalanche, July 4, 1895

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Receiver Begins a Novel Suit. Receiver Stone, of the defunct Central Michigan Savings Bank of Lansing, commenced suit against N. F. Jenison, a business man, to recover a commercial deposit of $2,800, which was withdrawn by the defendant during a run on the bank which caused its failure. It is charged that the defendant withdrew the deposit knowing the bank to be insolvent, and the effort to recover is based on the general banking law, which contemplates that one depositor of a bank shall have no advantage over another. The case is a novel one, and the outcome will be awaited with considerable interest.


Article from New-York Tribune, November 20, 1895

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A CASE OF MUCH INTEREST TO DEPOSITORS Lansing, Mich., Nov. 19. The day before the Central Michigan Savings Bank closed its doors, in April, 1893, Nelson F. Jenison, one of the leading merchants of this city, withdrew his deposit of $3,000. Receiver Stone is now suing to recover the money on the ground that it was withdrawn because Jenison knew that the bank was insolvent, as did the bank officials, the statute providing that Insolvent banks cannot dispose of their property or prefer creditors. This is a test case, and If the bank wins similar suits will be begun against a large number of depositors who withdrew money during the run which preceded the suspension.


Article from Belding Banner, November 21, 1895

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BETWEEN THE LAKES. The recent heavy rains quenched many of the forced and swamp fires raging in Michigan. A new Catholicchurch has been dedicated at Black River. Alger, Smith & Co. donated the site. John Boyer fell from the roof of Wagner's new brick at Kalamazoo and soon died of his injuries. Mrs. Edgar Tyler, of Jasper, attempted to commit suicide by cutting her throat. She may recover. The log jam in the Manistee river extends several miles and it is said to include 15,000,000 feet of timber. David L. Pearson, a farmer living near New Buffalo, has gone insane on account of the recent earthquak... Charles Williams, well-to-do farmer, ended his life by hanging himself from a beam in his barn near Yale. Norman Holmes shot a pure white "red" squirrel near Fowlerville, and Editor Peak has it among his curios. Joseph Besner, near Iron River, was shot by a set gun which had been set for deer, and will die from his injuries. Rev. P. T. Rowe, of Sault Ste. Marie, will be consecreated Bishop of Alaska in St. George's Episcopal church, New York, Nov. 30. While helping unload the steamer Colorado at Port Huron James Wers was fatally injured by a barrel of flour rolling on him. Warren M. Wright, of Ishpeming, has been appointed chief bookkeeper in the state treasury to succeed Will Evans, resigned. Firedamp caused an explosion at the Winning colliery at Blackwell, in the county of Derby, England. Seven persons were killed. Men are boring for coal about six miles from East Jordan. They struck a four-foot vein and will begin active mining operations. 1Lewis Stretch accidentally shot and killed Eben Ireland, aged 15, while hunting near Benton Harbor. Stretch is likely to go insane. Grand Rapids furniture workers will demand that on January 1 wages be restored to what they received previous to the recent hard times. Kalamazoo's common council voted to issue bonds to pay for the electric light plant. These are the only bonds standing against that city. A small force of men were put at work at the Norway mine at Norway, which has been idle five years, preparing for the resumption of mining. Andrew Dumon, of Tekonsha, while returning home from Coldwater, was waylaid by three men, pulled from his buggy and his pockets rifled of $180. The Negaunee brewery, has been removed to Duluth, but the plant at Negaunee will be used for a starch factory and potato whisky distillery. The secretary's books at the Michigan University show the registration to have reached the total of 2,850. This is a gain of 153 over the same time last year. The recent heavy freeze caught many farmers in Manistee county with their late potatoes yet undug, and the loss is variously estimated from 12,000 to 15,000 bushels. Foreign capitalists propose establishing one of the largest glass manufacturing establishments in the world, a plant of 200 pots capacity, at Delray, a suburb of Detroit. Jason Carpenter, aged 75, near Standish, received a divorce on the grounds of cruelty. In less than 10 minutes he had made application for a license to take another bride aged 32. The 3-year-old son of Mr. and Mrs. Frederick Wrege, of Saginaw, while at play, in stepping backward fell into a pail of boiling water and was fatally scalded. Bradley Matison, the oldest business man of Pontiac. has just made his first visit to Detroit in 29 years. He knew Detroit as a poorly-built old French town, and was hardly prepared to find a splendid city. Erastus and Dodson Webster were sentenced in the Livingston circuit court by Judge Stearns F. Smith to two years at Marquette prison for blowing up the residence of Geo. L. Hull, in Hamburg. Receiver Stone, of the defunct Central Michigan Savings bank, at Lansing, has notified the stockholders that they must put up the par value of the stock held by them to make good the claims of depositors. "Mark" Milks, proprietor of a lunch counter, Jesse Thomas and Clayton Sherwood, prominent young men of Kalkaska, have all been arrested, charged with having criminally assaulted a girl 14 years old. The recent dismissal of Prof. Gorton from the Agricultural college presidency is creating a great deal of discontent throughout the state, especially since it has become known that he was not given a hearing. Capt. Spear has had City Marshal Mitchell arrested at Adrian for tearing down a rail fence which the city claims was on the highway. Spear says the fence stood there over 40 years, and that established his property line.