Rockford State Bank - Rockford, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 12, 1893
Location: Rockford, Michigan (43.120, -85.560)

Metadata

Model: gpt-5-mini
Short Digest: 6087f11b

Response Measures

None

Description

Multiple articles (May 12–19, 1893) report the Rockford bank failed to open on May 12/13, 1893. The suspension is attributed to the collapse of the Columbia National of Chicago which dragged down Paris & Nave (private bankers) who owned the Rockford institution. There is no clear statement that the bank reopened; articles describe the bank placed in hands of a committee/assignee and creditors’ affairs being handled, consistent with a suspension leading to closure. Corrected OCR typos (e.g., Rock ford -> Rockford; Paris & Nare -> Paris & Nave).

Events (1)

1. May 12, 1893 Suspension

Cause: Correspondent
Cause Details: Failure/collapse of the Columbia National Bank of Chicago which, through its connections with Paris & Nave (owners), rendered the Rockford bank unable to continue payments.
Newspaper Excerpt: ROCKFORD, Mich., May 12-The Rock ford bank failed to open its doors this morning ... The suspension is due to the failure of the Columbia National of Chicago, which dragged down the private banking firm of Paris & Nave of Indianapolis, who owned the Rockford institution
Source: newspapers

Newspaper Articles (6)

1. May 13, 1893 Grand Rapids Herald Grand Rapids, MI

Article from Grand Rapids Herald, May 13, 1893

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Article Text

Its Depositors Take Possession. Indiana Banks Go by the Board. General Closing of Shaky Banks. ROCKFORD, Mich., May 12-The Rock ford bank failed to open its doors this morning The deposits were local and amounted to 823,000 The suspension is due to the failure of the Columbia National of Chicago, which dragged down the private banking firm of Paris & Nave of Indianapolis, who owned the Rockford institution and sev eral small banks in Indiana When depositors approciated the fact that their money was beyond reach they were paralyzed and then wildly excited. Cashier A. F. Fry declined to make any statement save that he had been wired by Paris & Nare to stop payments and had telegraphed back asking permission to continue business as he had plenty of cash on hand. Until late in the after noon he received no reply to this ture eage. Finally the cooler depositors de cided to hold a secret meeting tonight 7:30 o' clock and give Cashier Fry an opportunity of making a statement One man whose all. 6250 was in the bank. advocated the use of dynamite to force the safe doors Deposits in Bank. The country about Rockford is par ticularly fertile and many well o-do farmers have funds on deposit in the defunct institution. Nearly every busi ness firm will be affected and several men will be pushed to the wall. J. M. Spore. treasurer of Algoma top behip, had $1,800 of the township funda in the bank, E. E. Hewitt, school treasurer, also had the school funds, $1,600 on de posit. James Dockery, who sold the bank last August to Paris & Nave, had $5,000 in his old bank. To enumerate the depositors is to publish the directory of Rockford, the majority of them being poor persons who had their little all in the bank. On these the loss will be very hard. Neil McMillan, state oil inspector, had about $1,200 in the crash. Depositor's Meeting. 7:30 o'clock the depositors held ( Ne cret meeting in the club rooms. and Cash astatement with the under that it was to standing ier Fry made be held eached He produced a telegram from Paris and Nave, authorizing him. as their agent, to turn over all moneys. notes, mal estate and tixtures to the depositors to convert the same into cash and they would make good the deficit Mr. Fry then read from the bank's books how it stood at 4 o'clock Wednesday afternoon. Cash on hand. 82,000 Cash on deposit at the Old National bank. Grand Rapids 86,000 Cash on deposit with the Columbia National Chicago, 83,000. The deposits approximated $29,000 After this statement the stockboiden appointed a committee of five Neil Me Millan chairman. E. C. Watkins C. N Hyde, J. M. Spore and E. E. Hewitt to take immediate charge of the bank's affairs and a bill of sale was at once made out and signed to head off lawyers from Grand Rapids who were expected to arrive on the midnight train Sofar as is known but one Grand Rapids firm loses anything. Mosley Bros who sent 8400 here yesterday. Cashier Fry says this is on deposit to the bank's credit at the Old National bank Grand Rapids The bank's creditors feel easy tonight. some believing they will be paid in full; others think that they will get 30 cente on the dollar

2. May 18, 1893 The Worthington Advance Worthington, MN

Article from The Worthington Advance, May 18, 1893

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JOHN MAHIN'S residence and two other houses at Muscatine, Ia., were destroyed by dynamite. Mr. Mahin is editor of the Muscatine Journal, postmaster and .an ardent prohibitionist, and the residences destroyed were those of prominent citizens who have been active in prosecuting saloon cases. NEAR Lakeport, Ark., the levee gave way, flooding thousands of acres of cotton land and causing heavy losses to planters. IN Chicago the Columbia national bank suspended with liabilities of over $1,000,000. The principal business of the bank was with country banks and they will be the chief sufferers. THE doors of the Capital national bank at Indianapolis were closed with liabilities of $1,000,000. THE Danube left Portland, Ore., for China with 406 Chinese on board who had been refused admission to the United States. ON the Ohio River railroad a freight train went off the tracks at Walkers, W. Va., falling 35 feet, and three men were killed. CHARLES LUTTRELL and John Z. Carlisle were hanged at Sherman, Tex., for the murder of W. T. Sherman at Denison on April 28, 1892. AT Grand Ridge, III., R. J. Horinck, conductor of a general store nd.private bank, failed for $300,000, and scores of farmers are ruined by the disaster. THE members of the local world's fair directory passed a resolution that the fair should be open Sundays on and after May 21, the admission to the grounds to be twenty-five cents, and the big exhibit buildings to be closed. This action may be annulled by the national commission. AT Charleston, S. c., Joe Brannon, aged 19. was hanged for the murder of Stephen Kearney on the 31st of August last. THE Columbia national bank collapse in Chicago caused the failure of banks at Russiaville, Greentown. Oxford, Morristown, Arcadia, Spiceland, Orleans, Hebron, Brookston, Dunkirk, Geneva, Boswell, Knox, West Lebanon and Gieenwood in Indiana, the Richland, Edwardsburg, Lawton, Rockford and Charlevoix banks in Michigan, the bank of Oregon in Wisconsin, the bank of Casey in Illinois and the bank at Clearmount in Ohio. TWENTY-FIVE ringleaders of the mob that took from jail at Chattanooga, Tenn., Alfred Blount, a negro assaulter, and hanged him. have been indicted for murder. EAST of Pinckney, Mich., several farms were swept by a cyclone and buildings were wrecked and several persons were hurt, but not seriously, though many horses and sheep were killed. OHIO prohibitionists will meet in state convention at Cleveland June 27 and 28. THE firm of Kendall & Smith, the largest millers in Nebraska, failed at Lincoln for $250,000. IN Milwaukee the big department store of Frank A. Lappen & Co. and the furniture store of the Lappen Furniture company failed for $500,000. W. H. THOMAS & SON, the largest dealers in old Kentucky whisky in the world. suspended at Louisville with liabilities of $600,000. IN session at Louisville, Ky., the National Republican College league elected L. E. Hawkins, of Syracuse university, as president.

3. May 18, 1893 The State Republican Jefferson City, MO

Article from The State Republican, May 18, 1893

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WEST AND SOUTH. THE Republican League clubs met in national convention in Louisville, Ky., delegates from thirty-three states being present. A MOB lynched a young negro who tempted to assault a daughter of Capt. James Wham at Chestnut Ridge, & C. IN the nineteenth annual Kentucky derby at Louisville six horses participated, Lookout winning by four lengths in 2:39 14. JOHN MAHIN'S residence and two other houses at Muscatine, Ia., were destroyed by dynamite. Mr. Mahin is editor of the Muscatine Journal, postmaster and an ardent prohibitionist, and the residences destroyed were those of prominent citizens who have been active in prosecuting saloon cases. FLAMES swept away one-half of Spring Lake, Mich., and fifty families were homeless. Total loss, $175,000. W. W. TRACEY, of Springfield, III., was chosen president of the National League of Republican clubs at the session in Louisville. NEAR Lakeport, Ark., the levee gave way, flooding thousands of acres of cotton land and causing heavy losses to planters. IN Chicago the Columbia national bank suspended with liabilities of over $1,000,000. The principal business of the bank was with country banks and they will be the chief sufferers. THE doors of the Capital national bank at Indianapolis were closed with liabilities of $1,000,000. THE Danube left Portland. Ore., for China with 406 Chinese on board who had been refused admission to the United States. ON the Ohio River railroad a freight train went off the tracks at Walkers, W. Va., falling 35 feet, and three men were killed. CHARLES LUTTRELL and John Z. Carliste were hanged at Sherman, Tex, for the murder of W. T. Sherman at Denison on April 88, 1893. AT Grand Ridge, III., R. J. Horinck, conductor of a general store and private bank, failed for $800,000, and scores of farmers are ruined by the disaster. THE members of the local world's fair directory passed a resolution that the fair should be open Sundays on and after May 21, the admission to the grounds to be twenty-five cents, and the big exhibit buildings to be closed. This action may be annulled by the national commission. THE Columbia national bank collapse in Chicago caused the failure of banks at Russiaville, Greentown. Oxford, Morristown, Arcadia, Spiceland, Ordeans, Hebron, Brookston, Dunkirk, Geneva, Boswell, Knox, West Lebanon and Greenwood in Indiana, the Richland, Edwardsburg, Lawton, Rockford and Charlevoix banks in Michigan, the bank of Oregon in Wisconsin, the bank of Casey in Illinois and the bank at Clearmount in Ohio. TWENTY-FIVE ringleaders of the mob that. took from jail at Chattanooga Tenn., Alfred Blount, a negroassaulter. and hanged him. have been indicted for murder.

4. May 18, 1893 Warren Sheaf Warren, MN

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JOHN MAHIN'S residence and two other houses at Muscatine, Ia., were destroyed by dynamite. Mr. Mahin is editor of the Muscatine Journal, postmaster and an ardent prohibitionist, and the residences destroyed were those of prominent citizens who have been active in prosecuting saloon cases. NEAR Lakeport, Ark., the levee gave way, flooding thousands of acres of cotton land and causing heavy losses to planters. IN Chicago the Columbia national bank suspended with liabilities of over $1,000,000. The principal business of the bank was with country banks and they will be the chief sufferers. THE doors of the Capital national bank at Indianapolis were closed with liabilities of $1,000,000. THE Danube left Portland, Ore., for China with 406 Chinese on board who had been refused admission to the United States. ON the Ohio River railroad a freight train went off the tracks at Walkers, W. Va., falling 35 feet, and three men were killed. CHARLES LUTTRELL and John z. Carlisle were hanged at Sherman, Tex., for the murder of W. T. Sherman at Denison on April 28. 1892. AT Grand Ridge, Ill., R. J. Horinck, conductor of a general store and.private bank, failed for $300,000, and scores of farmers are ruined by the disaster. THE members of the local world's fair directory passed a resolution that the fair should be open Sundays on and after May 21; the admission to the grounds to be twenty-five cents, and the big exhibit buildings to be closed. This action may be annulled by the national commission. AT Charleston, S. c., Joe Brannon, aged 19, was hanged for the murder of Stephen Kearney on the 31st of August last. THE Columbia national bank collapse in Chicago caused the failure of banks at Russiaville, Greentown. Oxford, Morristown, Arcadia, Spiceland, Orleans, Hebron, Brookston, Dunkirk, Geneva, Boswell, Knox, West Lebanon and Gieenwood in Indiana, the Richland, Edwardsburg, Lawton, Rockford and Charlevoix banks in Michigan, the bank of Oregon in Wisconsin, the bank of Casey in Illinois and the bank at Clearmount in Ohio. TWENTY-FIVE ringleaders of the mob that took from jail at Chattanooga, Tenn., Alfred Blount, a negro assaulter, and hanged him, have been indicted for murder. EAST of Pinckney, Mich., several farms were swept by a cyclone and buildings were wrecked and several persons were hurt, but not seriously, though many horses and sheep were killed. OHIO prohibitionists will meet in state convention at Cleveland June 27 and 28. THE firm of Kendall & Smith, the largest millers in Nebraska, failed at Lincoln for $250,000. IN Milwaukee the big department store of Frank A. Lappen & Co. and the furniture store of the Lappen Furniture company failed for $500,000. W. H. THOMAS & SON, the largest dealers in old Kentucky whisky in the world, suspended at Louisville with liabilities of $600,000. IN session at Louisville, Ky., the National Republican College league elected L. E. Hawkins, of Syracuse university, as president.

5. May 19, 1893 The Times Owosso, MI

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MICHIGAN BANKS IN TROUBLE. Financial Institutions at Charlevoix, Hinsdale and Lawton Close Their Doors. CHARLEVOIX, May 13. - -The bank of Charlevoix closed its doors Friday morning and placed its affairs in the hands of R. W. Kane as assignee. There was no run on the bank, but its affairs were in such shape that this move seemed necessary to do justice to all creditors. The deposits will probably not exceed $10,000. HILLSDALE, May 13.-The First state bank of this city has gone into liquidation and quit business. The business has been transferred to the Hilladale savings bank, which will assume all the liabilities and pay depositors in full. PAW PAW, May 3.-Great excitement prevails at Lawton. The managers of a local bank there did not open up the institution, having left town Thursday night. Citizens have some $18,000 deposited in the bank and are taking legal steps in the hope of realizing something. EDWARDSBURG, May 13. - The Citizens' bank of this place has suspended. The failure of the Columbia national bank tells the story. Dwiggins, Starbuck & Co., of the Chicago institution, held a large share of stock in the Citizens' bank. Citizens of this place are interested to the extent of $25,000. Township and school funds are also tied up. It is believed depositors will be paid in full. BOCKFORD, May 13.-The Rockford bank failed to open its doors Friday morning. The deposits were local and amounted to $29,000. The suspension is due to the failure of the Columbia national of Chicago, which dragged down the private banking firm of Paris & Nave, of Indianapolis, who owned the Rockford institution and several small banks in Indiana.

6. May 19, 1893 The Times Owosso, MI

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States reported exchanges United amounting to $1,370,664,109 against As $1,373,638,156 the previous week. week compared with the corresponding of 8192 the increase was 11.0. JOHN Z. Carlisle and Charles Luttrell the hanged at Sherman, Tex., Denison for were murder of W. T. Sherman at on April 28, 1892. THERE were 257 business failures the rein the United States during the ported seven days ended on the 12th. In week preceding there were 216, 1892 and during the corresponding time in the number was 209. R. J. HORINCK, conductor of a general store and private bank at Grand Ridge, of Ill., failed for $300,000, and scores farmers are ruined by the disaster. FOREST fires burned hundreds of of oak, pine and cedar timber, acres valuable cranberry bogs N.J. and three many houses in Berkeley township, the THE twenty-five ringleaders of mob that took from jail at Chattanooga, Tenn., Alfred Blount, a negroassaulter, for and hanged him, have been indicted murder. THE Hygeian Ice company at Trenton, N. J., failed for $150,000. SEVERAL farms east of Pinckney, Mich., were swept by a cyclone and buildings were wrecked and several persons were hurt, but not seriously, though many horses and sheep were killed. THE collapse of the Columbia national of bank in Chicago caused the failure banks at Rusiaville, Greentown, Oxford. Morristewn, Arcadia, Spiceland, Orleans, Hebron, Brookston, Dunkirk, Geneva, Boswell, Knox, West Labanon and Greenwood in Indiana, the Richland, Edwardsburg, Lawton, Rockford and Charlevoix banks in Michigan, the bank of Oregon in Wisconsin, the bank at of Casey in Illinois and the bank Clearmount in Ohio. MEMBERS of the local world's fair dipassed a resolution that the fair should rectory be open Sundays on and after May 21, the admission to the grounds to be twenty-five cents, and the big exhibit buildings to be closed. This action may be annulled by the national commission. JOE BRANNON, aged 19, was hanged at Charleston, S. C., for the murder of Stephen Kearney on the 31st of August last. THE police at Buffalo, N. Y., claimed to have discovered evidence of a plot by anarchists to blow up the water works and fire the world's fair buildings to avenge upon Chicago the execution of the anarchists condemned for the Haymarket murders. THE new Cunard line steamship Campania made the trip from New York to Queenstown in 5 days 17 hours and 42 minutes. the quickest passage eastward yet made by any steamer. THE total value of the exports of breadstuffs from this country during the ten months ended April 30 last was $157,653,913, a decrease of $93,000,000 from the corresponding period of 1892. JOHN WEISS, grand treasurer of the Order Germania, a relief fund, sick and benefit association, departed from his home in New York with $100,000 belonging to the order. KENDALL & SMITH, the largest milling firm in Nebraska, failed at Lincoln for $250,000. THE big department store of Frank A. Lappen & Co. and the furniture store of the Lappen Furniture company in Milwaukee failed for $500,000. AT Louisville, Ky., the firm of W. H. Thomas & Son, the largest dealers in old Kentucky whisky in the world, suspended with liabilities of $600,000. A SEVERE windstorm at Astoria, Ore., overturned a number of fishing boats and four men were drowned. THE percentages of the baseball clubs in the National league for the week ended on the 15th were as follows: Cleveland. .667; St. Louis, .667; Washington, .643; Pittsburgh, .636; Brooklyn, .588; Cincinnati, .572; Philadelphia, .500; Baltimore, .429; Boston, .462; New York, .885; Chicago, .286; Louisville. .200. Two PERSONS were killed and several a seriously injured by the explosion of railway locomotive at Lebanon, Pa. THE jury in the case of W. C. Rippey, accused of assaulting John W. Mackay in San Francisco with intent to kill, was dismissed, having failed to reach en agreement. JOHN TURLEY, who shot and killed L. F. Price, a conductor, on a train at Seymour, Ind., was taken from jail at Bedford by masked men and lynched. THE Standard Oil company's works at Whiting, Ind., were burned, the loss being $100,000. TEN men fell 3,000 feet to their death down the Red Jacket shaft of the Calumet and Hecla mine at Calumet, Mich. KENDALL & SMITH, grain dealers at Lincoln, Neb., failed for $300,000. THE Kissamee (Fla.) City bank closed its doors with liabilities of $100,000. Tightness of money and slow collections caused the failure. A FIRE caused by a defective flue in the bakehouse of the Aldine hotel in Philadelphia resulted in a loss of 140,000. A CREVASSE gave way at Brook's mill in Arkansas, causing the destruction of crops in eight or nine parishes. BY request of Secretary Gresham the of as resignation of William E. American Curtis chief the bureau of the republics was sent to the president.