9354. Union Bank of Richland (Richland, MI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
private
Start Date
October 9, 1907
Location
Richland, Michigan (42.376, -85.455)

Metadata

Model
gpt-5-mini
Short Digest
e94fdded

Response Measures

Full suspension

Other: Bank was a private institution (article text). Later adjudicated bankrupt in U.S. court and receiver appointed (Kalamazoo Trust Co.).

Description

Contemporary articles (Oct 9, 1907) report a small run that caused the Union Bank of Richland (a private institution) to suspend operations; later (Nov 19-20, 1907) U.S. court adjudicated the bank bankrupt and a receiver (Kalamazoo Trust Co.) was appointed. Cause of the initial run is not specified in the articles.

Events (3)
1. October 9, 1907 Run
Cause Details
A small run occurred; the articles do not specify the trigger or reason for depositor withdrawals.
Measures
Paid out funds during run; bank decided to suspend business (closed Wednesday morning).
Newspaper Excerpt
As the result of a small run, during which considerable money was paid out, the Union bank of Richland ... decided late Tuesday to suspend business
Source
newspapers
2. October 9, 1907 Suspension
Cause Details
Suspension followed a small run; directors named an assignee (George M. Evers) per reports.
Newspaper Excerpt
the Union bank of Richland ... decided late Tuesday to suspend business, and the doors of that institution were closed Wednesday morning.
Source
newspapers
3. November 19, 1907 Receivership
Newspaper Excerpt
In the United States court here today the Union bank, of Richland, Mich., ... were declared bankrupt, and the Kalamazoo Trust company was appointed receiver in each case.
Source
newspapers

Newspaper Articles (15)
1. October 9, 1907 Alma Record Alma, MI
Article from Alma Record, October 9, 1907

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Article Text

TWO BANKS CLOSE. Runs on Richland and Kalamazoo In. stitutions Puts 'Em Out of Business. Kalamazoo, Mich., Oct. 10.-As the result of a small run, during which considerable money was paid out, the Union bank of Richland, a private institution which succeeded the old Richland Exchange bank, decided late Tuesday to suspend business, and the doors of that institution were closed Wedneday morning. Following this action the Bowman bank of Kalamazoo, a private bank, doing business at 201 Burdick street, of which E. W. Bowman is president, decided to close its doors to avoid a pos. sible run. Mr. Bowman was one of the co-partners in the Richland bank and heavily interested in that institytion. The capital stock of the banks is small, only $6,000 for the Richland institution. The liabilities are given as $195,000; the liabilities of the Richland bank being stated as $120,000, and the Bowman bank's liabilities as $75,000. It is stated that the directors of the Richland bank, all rich farmers, will be able to pay all indebtedness, and it is believed Mr. Bowman will also be able to settle all liabilities, though his name is on some paper Late Tuesday George M. Evers was named as assignee of the Richland Union bank. Wallace W. Dewey of Kalamazoo is president of the Richland bank; Miss Rell S. Wilson is cashier. Patrick H. Gilkey, one of southern Michigan's most prominent democratic politicians, Elias W. Bowerman and A. R. Whitney are co-partners.

2. November 20, 1907 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, November 20, 1907

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Article Text

TWO MICHIGAN BANKS ARE DECLARED BANKRUPT Grand Rapids, Mich., Nov. 19.-In the United States court here today the Union bank, of Richland, Mich., and the Bowman bank of Kalamazoo, both private concerns, were declared bankrupt, and the Kalamazoo Trust company was appointed receiver in each case. No statements of assets or Thabilities were filed, but it is: said that the deposits in the Union bank amounted to about $130,000, and those in the Bowman bank to $75,000.

3. November 20, 1907 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, November 20, 1907

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Article Text

TWO SMALL BANKS CLOSED. Grand Rapids, Mich., Nov. 20. In the United States court yesterday the Union Bank of Richland, Mich., and the Bowman Bank of Kalamazoo, both private banking concerns, were declared bankrupt, ordered closed and the Kalamazoo Trust Co. appointed receiver in each case. The deposits in the Union Bank amounted to about $130,000; and in the Bowman Bank to about $80,000. Liabilities not stated.

4. November 22, 1907 Middlebury Register Middlebury, VT
Article from Middlebury Register, November 22, 1907

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Article Text

Two Banks In Bankruptcy Grand Rapids, Mich., Nov. 20.-In the United States court here the Union bank of Richland and the Bowman bank of Kalamazoo. both private concerns, were adjudicated bankrupt and the Kalamazoo Trust company was appointed receiver in each case. It is said the deposits in the Union bank amounted to about $130,000 and in Bowman's bank to $75,000.

5. November 23, 1907 The Diamond Drill Crystal Falls, MI
Article from The Diamond Drill, November 23, 1907

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Article Text

Two Small Banks Closed. Grand Rapids, Mich., Nov. 21.-In the United States court here the Union Bank of Richland, Mich., and the Bowman Bank of Kalamazoo, both private concerns. were adjudicated bankrupt and the Kalamazoo Trust company was appointed receiver In each case.

6. January 2, 1908 Audubon Republican Audubon, IA
Article from Audubon Republican, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, : Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Rece vers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 -Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 77-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass, in hands of receiver.

7. January 2, 1908 Mexico Missouri Message Mexico, MO
Article from Mexico Missouri Message, January 2, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. 4-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. %-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb:, closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking. sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, Imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. S-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown. Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich. both private institutions, closed doors, 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 2-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. 1., suspended. Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. so California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. I--Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financlal situation City National bank of Frederick, Okla., failed. T7-American Bilk Co. capital stock, $11,000,000, which operated mills In several cities, placed in hands of receiver. Dec. Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. -Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

8. January 2, 1908 The Nevada County Picayune Prescott, AR
Article from The Nevada County Picayune, January 2, 1908

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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. LF. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. %-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situa19-Citizens' tion. State bank of Firth, Neb., closed by state. 18-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens bank of Eureka Springs, Ark., suspended. -Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug 3-People's State bank of Brownstown, Ind., closed by state authorities. It-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank. of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 13-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 4-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 5-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 6-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 2-Merchants' National bank of Portland, Ore,, California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 8-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 7-American Silk Co. capital stock, $11,000,000, which operated mills in several cities. placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier. closed. -National Bank of Commerce, one of largest

9. January 3, 1908 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, January 3, 1908

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FINANCIAL Jan Merchants' and Farmers' bank of Fairmont, Minn. suspended. Feb.2-F D. Gilman, former president suspended Home bank of Goodland, Ind. found guilty of embezzlement. LF D. Gilman, Indiana banker sentanced to term of one to three years in state prison. Disappearance of $ 3,000 from subtreasury at Chicago made public. Mar. 14 Virtual panic in Wall street; Secretary Cortelyou relieved the situation Citizens State bank of Firth, Neb., closed by state Corbin Banking company of New York, assigned assets, $3,000,000; Habillties, $1,700,000. pr. -Maj H. W. Salmon of Warsaw. Mo. convicted of illegal banking, sentenced three years in penitentlary 11-Bank of Conception, at Clyde, Mo., ordered closed 10-Ex-Judge Smith of Chicago, found utity of conspiring to defraud stock holders and depositors of Bank of America, of which he was president; Denalty imprisonment and $1,000 fine Citizens' bank of Eureka Springs, Ark. suspended -Fort Dallas National bank of Miami, Fla. closed. -Farmers' National bank of Boyertown. Pa. ordered closed. Aug. 1-People's State bank of Brownstown, Ind. closed by state authorities. Receivers appointed for Pope Mfg Co., of Hartford, Conn. failure ascribed to stringency of money market ep. 5-5 Watson & Co. members of New York stock and produce exchanges and of Chicago board of trade failed. Oct. -Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutiona closed doors &-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange New York clearing house committee declared that the Heinze Morse and Thomas interests had been eliminated from banking organizations of New York -Krickerbocker Trust Co. New York's second largest financial institution, forced to suspend great slump in securities: call money at 70 per cent. Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed 84 Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala. filed involuntary petition in bankruptcy -8ix more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. -California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. T-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns In country 22-Merchants' National bank of Portland, Ore California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I T. suspended 22 Secretary of Treasury Cortelyou or dered issue of $ 50,000,000 of Panama bonds and $100,000.00 certificates of indebtedness as means relieving financial situation City National bank of Frederick, Okla., falled -American Silk Co capital stock $11. 000,000, which operated mills in several cities placed In hands of receiver Dec. 2 Chelsea Savings abnk of Chelsea. Mich owned by State Treasurer Glazler, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended -Fort Pitt National bank of Pittsburg, closed 17-Jewelers' National bank at North Attleboro, Mass., In hands of receiver

10. January 4, 1908 The Huttig News Huttig, AR
Article from The Huttig News, January 4, 1908

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3an. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Teb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. B-Citizens' State bank of Firth, Neb., closed by state. 88-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. XI-Bank of Conception, at Clyde, Mo., ordered closed. 9-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 08-Fort Dallas National bank of Miami, Fla., closed. 80-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 9-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 12-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 33-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 04-Three minor banks in New York rforced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 3-Six more minor banking institutions Voniin Ne

11. January 4, 1908 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, January 4, 1908

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Jan 21-Merchants' and Farmers' bank Fairmont, Minn., suspended. Feb. of 2F. D. Gilman, former Goodland, president suspended Home bank of Ind., found guilty of embezzlement. H-F. D. Gilman, Indiana banker, sen- in tenced to term of one to three years state prison. Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. Citizens' State bank of Firth, Neb., closed by state. Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. D-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. Citizens' bank of Eureka Springs, Ark., suspended. -Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. M-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5- Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. -Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. -Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 10-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. B-Knickerbocker Trust Co., New York's second largest financial Institution, forced to suspend; great slump in securities; call money at 70 per cent. Secretary of treasury ordered deposit in of $25,000,000 of government funds New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, falled. M-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 85-Bix more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. -Banks in New York and Chicago. and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. B-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. M-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. -Fort Pitt National bank of Pittsburg. closed. -Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

12. January 8, 1908 Willmar Tribune Willmar, MN
Article from Willmar Tribune, January 8, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. 25-Disappearance of $173.000 from subtreasury at Chicago made public. Mar. H-Virtual panie in Wall street: Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago. found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown. Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 11-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. :- Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Coltapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. kerbocker Trust Co., New York's second largest financial institution, forced to suspend: great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, Cailed. 21-Turee minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. 1., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 20-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Recciver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 1"-Merchants' National bank of Portland. Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver Dec. 2-Chelsea Savings abnk of Chelsea. Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce. one of largest financial institutions of Kansas City, suspended. 6-Fort closed Pitt National bank of Pittsburg, 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

13. January 9, 1908 The Mena Weekly Star Mena, AR
Article from The Mena Weekly Star, January 9, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. -Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary Detition in bankruptcy 25 Six more minor banking Institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 36-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. e-Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns in country. 12-Merchants National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., 18- of Treasury dered Secretary suspended. Cortelyou orissue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving finanetal situation City National bank of Frederick, Okla. failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg. closed. 17-Jewelers National bank at North Attleboro, Mass., in hands of receiver.

14. January 10, 1908 The Commonwealth Greenwood, MS
Article from The Commonwealth, January 10, 1908

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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. -First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 5-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street: Secretary Cortelyou relieved the situa19-Citizens' tion. State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj, H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroner of currency 5-Fort Dallas National bank of Miami, Fla., clósed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 16-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19--New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 12-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend: great slump in securities; call money at 70 per cent. 3-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and TraNt Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., sus6-Banks pended. In New York and Chicago and many other cities ellopted Maring house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 10--California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore,, California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11.000,000, which operated mills in several cities placed in hands of receiver.

15. January 11, 1908 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, January 11, 1908

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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 80-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18-Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed.