961. Farmers Exchange Bank (San Bernardino, CA)

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: June 15, 1893
Location: San Bernardino, California (34.108, -117.290)

Metadata

Model: gpt-5-mini
Short Digest: b3679923

Response Measures

Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined

Description

A multi-day run in mid-June 1893 forced the bank to close/suspend on June 17; a receiver was appointed (George L. Hisom, later John C. King). The bank reopened under authority of state/comptroller on Aug 24–25, 1893. Cause attributed to a depositor panic tied to the wider 1893 financial stringency (described as a 'senseless panic').

Events (5)

1. June 15, 1893 Run

Cause: Macro News
Cause Details: Persistent depositor panic over the national financial stringency and local withdrawals (visitors to World's Fair removed specie); described as a 'senseless panic' affecting multiple banks.
Measures: Telegraphed stockholder in San Francisco for $50,000; local banks advanced $12,000; posted notice assuring depositors they'd be paid in full.
Newspaper Excerpt: For the last three days there has been a steady run, beginning on Wednesday and closing on Friday night, when the amount drawn out in cash reached $57,500.
Source: newspapers

2. June 17, 1893 Suspension

Cause: Macro News
Cause Details: Unable to withstand heavy withdrawals from the preceding days' run caused by the wider monetary stringency and local panic; money could not be obtained in time from correspondents/stockholders.
Newspaper Excerpt: This morning the Farmers' Exchange Bank failed to open its doors... On the door was a notice assuring depositors that they would be paid in full. The temporary suspension is due to inability to stand a run which had been made on the bank for the past three days.
Source: newspapers

3. June 19, 1893 Other

Newspaper Excerpt: RECEIVER APPOINTED... George L. Hisom has been appointed Receiver of the Farmers' Exchange Bank and Savings Bank of San Bernardino with bonds fixed at $250,000.
Source: newspapers

4. June 21, 1893 Other

Newspaper Excerpt: George L. Hisom... having received a telegram calling him East, resigned his office as receiver and today the court appointed John C. King in his stead, who will qualify and take possession at once.
Source: newspapers

5. August 24, 1893 Reopening

Newspaper Excerpt: The Farmers' Exchange Bank reopened this morning under auspicious circumstances with about $130,000 in cash on hand, being 80 percent of the amount due depositors.
Source: newspapers

Newspaper Articles (19)

1. June 18, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, June 18, 1893

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COULDN'T STAND THE RUN. San Bernadino, Cal., June 17.-This morning the Farmers' Exchange Bank failed to open its doors, but instead hung up a card: "Bank closed. Depositors will be paid in full." For the last three days there has been a steady run, beginning on Wednesday and closing on Friday night, when the amount drawn out in cash reached $57,500. The bank telegraphed yesterday to one of its stockholders in San Francisco for $50,000, but the money could not be obtained in time yesterday. Local banks here advanced $12,000, but the amount was too small. to meet the emergency.

2. June 18, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 18, 1893

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FAILURE OF BANKS IN THE WEST ANOTHER LIMB OF THE ZIMRI DWIGGINS TREE FALLS TO THE GROUND. Wabash, Ind., June 17 (Special).-This morning the Citizens' Bank, of Converse, owned by L. Gottschalk and George Ober, and which began business this spring. failed to open Its doors. The proprietors. who came from Geneva, Ind., were associated with Zimri Dwiggins, of Columbia National Bank fame, and, it is asserted, lost from $10,000 to $12,000 in the Columbia failure. No statement of assets and 11a bilities has been made to Roscoe Kimple, to whom the bank a-signed. The capital Invested was about 420,000, and the deposits from 825,000 to $30,000. Cashier Gottschalk says all depositors will be paid in full. Waterloo, Iowa. June 17.-The First National Bank of Grundy Centre closed its doors yesterday and In formed Bank Examiner MeHugh that If could not do business any longer. The statement of the condition of the bank May 4. showed deposits subject to check to the amount of $34.761 72. demand certificates ito the amount of 827,836 70. and time certificates amount ing to $74,715.50. The capital stock was $50,000 amount of liabilities is not known. Dallas, Tex., June 17.-A "News" Brownwood Tex. dispatch says: "The City National Bank of Brown wood closed its doors yesterday. A sign was hung out: Closed by order of the directors. Tightness of the money market and slow collections are the the on causes assigned by the directors. A run bank was begun yesterday that continued until they were compelled to close. The capital of the bank is $130,000. San Bernardino, Cel. June 17.-The Farmers' Ex change Bank closed its doors this morning. St. Paul, June 17.-A dispatch from Crystal Falls Mich., says all the mines there except the Mahs field. Claire and Michigan have suspended work. and one of these will close In a few days. Both banks of the city have suspended and there is simply no money whatever In circulation. Many are leaving the town.

3. June 18, 1893 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, June 18, 1893

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BUSINESS TROUBLES. The City National bank, of Brownwood, Tex, suspended on June 16. Angel!, Matthewson & Co., of Oswego, Kan, assigned on June 16, with $100,000 liabilities. The Genesee Oil Works (limited). of Buffalo, N. Y., have made the essignment Liabilities, $300,000. The Racine, Wis, Hardware Manufacturing Company assigned on June 17, with $400,000 liabilities. Charlee Offer's wholesale tobacco business at San Francisco was attached on June 16 for from $50,000 to $70,000. The Farmers' Exchange bank. of San Bernadino, Cal., suspended on June 17, in conse quence of a heavy run. Charles F. Streight, an Albany, N. Y.. hardware merchant, failed on June 17 with $200,000 assest and $50,000 liabilities. Judgments and executions to the amount of $350,000 have been filed against the Duqueene Tube Works Company, of Pittaburg. covering. it is said, nearly the entire debt of the company.

4. June 18, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 18, 1893

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A RUN CLOSED THEM. The 'Farmers' Bank of San Bernardino Fails to Open Yesterday. SAN BERNARDINO, Cal., June 17.-The Farmers' Exchange bank failed to open its doors this morning. On the door was a notice assuring depositors that they would be paid in full. It is believed that the assets will exceed the liabilities two dollars for one. The temporary suspension is due to inability to stand a run which had been made on the bank for the past three days. The bank has a paid up capital of $50,000; surplus capital, $100,000.

5. June 20, 1893 The Record-Union Sacramento, CA

Article from The Record-Union, June 20, 1893

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SAN BERNARDINO BANKS. Two Which Were Prepared for Any Heavy Run. SAN BERNARDINO, June 19.-The rush of creditors who drew their money out of the Farmers' Exchange Bank last week, causing it to close its doors, has, to some extent, infected the depositors of the other banks. This morning., small depositors were to be seen drawing their cash, but the banks are fully prepared to meet every demand. The First National Bank of San Bernardino and the San Bernardino National are heeled. They have been fortifying themselves for some time past, and today display an unusual amount of gold and currency on their ccunters. The large depositors are not drawing their money, and the bankers wear a confident and smiling appearance this morning. In accounting for the unprecedented run on the Farmers' Exchange Bank-an institution unquestionably sound financially, as measured by the usual standard of banking-followed as it was by the disastrous results, attention has been called to the fact that over $100,000 has been withdrawn from circulation here by visitors to the World's Fair within a few weeks. The Farmers' Exchange Bank and Savings Bank of San Bernardino were practically owned and conducted by the same men. The directors are now preparing a statement which will be made public tomorrow. One of the Directors of the Farmers' Exchange Bank, when asked how soon the bank would resume business, stated this morning that it was impossible to state the time owing to the difficulty in realizing on securities in the money centers. That the bank will resume is generally believed by those acquainted with its officers. RECEIVER APPOINTED. SAN BERNARDINO, June 9.-George L. Hisom has been appointed Receiver of the Farmers' Exchange Bank and Savings Bank of San Bernardino with bonds fixed at $250,000.

6. June 20, 1893 The Herald Los Angeles, CA

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SAN BERNARDINO BANKS, Confidence in Them Is in the Ascendancy. Their Solvency Has Been Amply Demonstrated. The Farmers' Exchange Expected to Resume Soon. No Further Trouble Anticipated-Bank Failures in Oregon and Other States-Numerous Business Suspensions. Special to the HERALD. SAN BERNARDINO, June 19.-The suspension of the Farmers' Exchange bank of this city ie the chief topic of conversation on the streets, but the impression is general that the bank will resume as soon as confidence is established throughout the city. A receiver was appointed today by Judge Campbell in the person of George L. Hisom, with bonds fixed at $250,000. Attachment proceedings for the purpose of having a receiver appointed, were instituted by James Fleming, one of the directors and stockholders. The fact that A. Gerberding, the state bank examiner, gave out that the bank had $154,232.69 in excess of all liabilities, has restored great confidence in the suspended bank. The receiver will commence at once to straighten out the affairs and will probably open the doors of the closed institution in a few days. This evening H. L. Drew, president of the bank, was seen and said that the bank could open in two or three days provided confidence was restored in all the banks, but with the present flurry it was impossible to say just when the doors would be opened. He said that the statement had been given out that the stock-holders had bought their real estate during the boom and that it was not worth the figures given out. He wished this rumor denied, 29 it was false in every particular, and that all the personal property of all the stockholders was worth every dollar of the amount given out. A full statement of the condition of the bank will probably be ready tomorrow, when it will be published. Several rumore have been circulated of large runs on the other three banks, but there is not 8 word of truth in them, as everything was very quiet all day. Only a few depositors asked for their money, and they were only email amounts and had no effect whatever. No further trouble is anticipated in financial circles in this city.

7. June 20, 1893 The Herald Los Angeles, CA

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RUNS ON OTHER BANKS. A Small Panic at San Bernardino-The Farmers' Exchange Failure. SAN BERNARDINO, June 19.-[By the Aesociated Press.]-The rush af depositors who drew their money out of the Farmers' Exchange bank last week, causing it to close its doors, has to some extent infected depositors of other banks. This morning numerous small depositors were seen drawing their cash. but the banks were fully prepared to meet every demand. The First National bank of San Bernardino and the San Bernardino National had been fortifying themselves for some time, and today displayed an unusual amount of gold and currency on their countere. Large depositore are not drawing their money, and the bankers wore a confident air this morning. In accounting for the run on the Farmers' Exchange bank, an institution unquestionably sound financially, meas. ared by the usual standards of banking, followed as it was by disastrous results, attention has been called to the fact that over $100,000 has been withdrawn from circulation here by visitors to the world'a fair within a few weeks. The Farmers' Exchange bank and the savings bank of San Bernardino were practically owned and conducted by the same men. The directors are now preparing a statement of their actual condition, which will be made public tomorrow. One of the directors of the Farmers' Exchange bank, when asked how soon the bank would resume business, stated this morning that it was impossible to set a time, owing to the difficulty in realizing on securities in the money centers. That the bank will resume is generally believed by those acquainted with its affairs,

8. June 20, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 20, 1893

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Condition of Affairs at San Bernardino. OREGON BANKS IN TROUBLE Two Financial Institutions There Close Their Doors-Bad Failure at Corvallis. Special to THE MORNING CALL SAN BERNARDINO, June 19.-The crazy of depositors who drew their money out of rush the Farmers' Exchange Bank last week. causing it to close its doors on Saturday. has some extent infected the depositors of other banks. This morning numerous small depositors were to be seen drawing their cash, to be doubtless stored away in some old stocking. But the banks are fully prepared to meet every demand, and every weak-kneed depositor will get his money when called for. The First National Bank of San Bernardino and the San Bernardino National are well supplied with money. They have been fortifying themselves for some time past and to-day display an unusual amount of gold and currency on their counters. Large depositors are not drawing their and money. and bankers wear a confident smiling appearance this morning. In accounting for this unprecedented run on the Farmers' Exchange Bank, an institution unquestionably sound financially measured by the usual standards of banking. followed as it was by disastrous results, attention has been called to the fact that over $100,000 has been withdrawn the from circulation here by visitors to World's Fair within a few weeks. The Farmers' Exchange Bank and Savings Bank of San Bernardino were practically owned and conducted by the same men. The directors are now preparing a statement of their actual condition, which will be made public to-morrow. One of the directors of the Farmers' Exchange Bank when asked how soon the bank would resume business stated this morning that it was impossible to state the time,owing to the difficulty in realizing on securities in money centers. That the bank will resume is generally believed by those acquainted with its affairs. When the banks opened this morning there was small run of country depositors on the First National Bank, but this of was counterbalanced by the opening accounts with new depositors. By 12 o'clock the bank stood in as good or in a better condition than in the opening hour The run is now practically over, and confidence is renewed in the minds of the public as to the stability of the local institutions. The banks of this city are so well supplied to-day with cash that large sums have been forwarded by them to smaller institutions in the county. One bank has actually on hand $40,000 in excess of any amount that can possibly be drawn out. This is shown by an actual examination of the books. A gentleman of known financial standing, who knows whereof he speaks, states that there are no sounder institutions in this country than the banks of this city, and that the attacks of depositors upon them are wholly senseless and without reason. The suspension continues to be the topic of conversation on the street. Depositors who failed to draw their money are consoled however by the statement of Bank Examiner Gerberding, that the bank has assets of nearly $2 to meet every $1 of its liabilities. This afternoon attachment proceedings were instituted before the Superior Court against the Farmers' Exchange Bank by James Fleming, the petitioner, asking Judge that a receiver be appointed. Campbell appointed George L. Hisom receiver, with bonds fixed at $250,000. The appointment is highly satisfactory to all parties interested, as Hisom is a man of well-known business ability and integrity. The day passed quietly at other banks of the city, with the exception of the slight flurry at the First National in the morning, and it is believed that affairs permanently resumed their normal condition. The Lynn County bank closed its doors this morning. A notice on the door says: "Owing to the stringency in the money market the bank hereby suspends paymen by order of the directors. Depositors will be paid dollar for dollar, with a large surplus.' J.L. Cowan. president of the bank, says the deposits amount to about $150,000, and that the assets will exceed the liabilities by from $80,000 to $100,000. J.A. Crawford, the wealthiest citizen of Albany and one of the directors, says he will personally guarantee every depositor. Among the deposits is $33,000 of the county's money, $17,000 of which had been apportioned to the public schools. No official statement has been made. The branch of the Lynn County bank at Lebanon, this county, also closed its doors. At noon the Bank of Oregon of this city also closed its doors. Cashier Blaine save the assets are 50 per cent more than the liabilities The amount of deposits is small. Both failures were caused by the steady withdrawal of deposits for several weeks. ALBANY, Or., June 19.-No official statement will be made until the bank examiner arrives, but Cashier Archibaid of the Linn County Bank says the liabilities are about $220,000 and the assets $318,000. and that the depositors will be paid in full. The immediate cause of the suspension was the dishonoring of a draft for $16,000 presented by the county treasurer in payment of State taxes. The State Treasurer accepted the draft and gave his receipt therefor, but the draft on being presented to the Salem bank was not honored. The directors then held a meeting and disagreed as to whether they should supply the money required to tide the bank over its present necessity. The majority finally decided to suspend. The assets of the Bank of Oregon are $68,000 and the liabilities|$45,000. The depositors will be paid as soon as the bank can realize on its securities. Merchants offer to take the paper of both the suspended banks at par. The other banks were kept open until 6 o'clock, and paid all demands. A bank at Lebanon owned by Cowan, Ralston & Co. of this city closed at 10:30. It had deposits of $27,000. Its

9. June 20, 1893 The Morning Call San Francisco, CA

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SOUND AS A BELL. Bank Commissioner Dunsmoor on the Financial Situation. Bank Commissioner Charles H. Dunsmoor returned from the south yesterday after having spent several weeks in the examination of banks in that part of the State. He reports that notwithstanding the suspension on Saturday at San Bernardino of the Farmers' Exchange Bank and its adjunct. the Savings Bank of San Bernardino, the attitude of the people in Southern California is one of confidence in their banks. The money market there shares the prevailing stringency, but for all that, the knowledge that the management of the banks, with very few exceptions, has been 80 conservative right along, together with the splendid character of the assets, inspires depositors with a serene faith in their stability. Mr. Dunsmoor adds that the crop prospects in the south never looked so bright. Last year the orange crop was below the average; this year the orchards are fairly teeming with the golden fruit. The wheat also looks well, and the farmers' only regret is the prevalent low quotations for that great staple. In regard to the failure of the Farmers' Exchange Bank, Mr. Dunsmoor attributes it to a senseless panic. Its stockholders are all solid men financially. The condition of the institution, as developed by the last examination, was found to be thoroughly sound, and had the managers foreseen the crisis which was so suddenly forced upon them the disaster of Saturday might easily have been averted. He believes they will find no difficulty in resuming. Bank Commissioner W. H. Knight is also now in the city. Both he and Commissioner Dunsmoor are preparing to receive and tabulate the semi-annual statements which will begin coming in on July 1. The managers have thirty days within which, under the law, to file their statements. Both commissioners are of the opinion that the showing this year for the California banks will be fully as good as last year's. If the bank managers will only maintain a prudent course and abstain from crowding their patrons too severely during the present period of business stagnation all will be well, A bank official remarked to a CALL reporter yesterday that the people of San Francisco had little to fear from the present monetary flurry in the East, He likened the tension to the stretching of a rubber band, which, the wider it was pulled between two fingers, the thinner and weaker It becomes. The monetary rubber band extended from London to San Francisco. The first strain was felt in London. Soon it extended to New York. Then the its which great West added pull, seemed to give it the maximum tension. If San Francisco bankers were foolish enough to contribute to the pull the still of endurance might be reached, and the whole band would snap to pieces. This, however, he did not fear, as the situation here was very different from what it was where booms and speculation had occasionally run riot within the last decade.

10. June 21, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 21, 1893

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Failure of Two Small Los Angeles Banks. DEPOSITORS WON'T SUFFER. Plenty of Assets, but Money Could Not Be Realized on Them. Other Assignments. Special to THE MORNING CALL June 20.-The University Los ANGELES, business, and Bank, which did commercial the Bank closed their doors this Yesterdsy these made an City morning. institutions Savings effort afternoon to borrow both money from the Clearing-house, but failing in this they were forced to suspend payment this morning left on and before he Saturday, President Widney for started Chicago he said that he bad deeded all his property. both real and personal, to the bank, and stated if any one loses he will. Robert Widney Jr. says that the securities overbalance the deposits three to one. A formal statement will be made in a few days. The closed City Bank has ample security and can pay depositors in full. A.D. Childress, president of the City Bank, says that the bank is closed temporarily in order to collect money from its loans and securities. He says the depositors will be paid in full. The news of the closure of the two banks spread rapidly through town and in short order a run was inaugurated on the Los Angeles National. The bank paid all demands as fast as possible. President Bonebrake made a speech assuring every depositor that his money would be paid to him. Notwithstanding the withdrawals, large sums of money were deposited in the bank bv merchants confident of its security. Runs more or less were made on every bank in town. All the savings banks are solvent and are paying money without question. There is DO excitement outside of a few small depositors, and at several banks today the receipts exceeded the payments. banks kept open conditions of the above criticism, the increased following the hours. the Two reserves banks depression of is the The having stead!ly after boom deposits Los collapse business Angeles in since 1888. and of the speculative real estate Realestate values have touched bedrock, but since the first of the year have been on the up grade, inside business property being in good demand at much higher prices than during the height of the boom. The clearances of the Los Angeles banks for this year up to the end of May show an increase of 38 per cent over 1892, as compared with 1 per cent increase in the country at large. There are nearly $11,000,000 ou deposit in the city banks. The run of to-day was caused entirely by small depositors, who became scared at the talk of irresponsible persons on the street. SAN BERNARDINO, June 20.-The finan ctal flurry in this city caused by the closing of the doors of the Farmers' Exchange Bank and of the Savings Bank of San Bernardino has subsided altogether. The streets are now perfectly quiet and no further trouble is anticipated. The Farmers' Exchange Bank has gone into the handsjof Receiver George L. Hisom, and there is no prospect that its doors will be opened again for some time to come. It is the intention of the leading stockholders to right their affairs as soon as possible and pay every dollar to the depositors. ) The public has received the failure with unusual complaisancy and but few if any ill-natured remarks have been heard in regard to it. ALBANY, Or., June 20.-The excitement over the .financial flurry has quited down. Official statements of the suspended banks' condition will show, it is stated. assets sufficient to pay depositors every dollar. EUGENE, June 20.-The Lane County Bank, owned by Hovey, Humphrey & Co., the oldest bank in the county, failed to open its doors this morning. The suspension was caused by a stringency of the money market. A notice was posted on which says: "Depositors will be No statement paid in full." the door liabilities. has yet been but made as to the assets and the depositors do not seem to have any fears. and many say if the bank should open this afternoun they would not withdraw deposits. VALLEJO, Jone 20.-The Vallejo Electric Light and Power Company has filed a petition in in-olvency in the Superior Court of Solano County. This action is said to be due to the numerous suits pending against the company, and involving many thousand dollars. Judgement in several suits has already been rendered against the concern. If the petition is granted the company will be reorganized. Sheriff Henderson has been appointed receiver, with bonds fixed at $10,000. Pendaction of the court the company their plant. as to ing will the run suspend Vallejo its in operation would mean leaving darkness

11. June 22, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 22, 1893

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PASSED LIKE AN EPIDEMIC. San Bernardino Has Completely Regained Confidence. SAN BERNARDINO, June 21. - George L. Hisom, w b o was appointed receiver of the Farmers' Exchange Bank, having received a telegram calling him East, resigned his office as receiver and went East yesterday morning. To-day the court appointed John C. King in his stead, who will qualify and take possession at once. The mad craze which has agitated the people here has died out altogether, and now it is discussed like an epidemic of smallpox or other disease from which the patient has recently recovered. The bank failures of Los Angeles are looked upon with a degree of interest, but people assume an attitude of pity toward that afflicted community rather than one of renewed alarm for their own financial safety. The craze has come and gone, not to return again soon. The day has passed off without incident at the banks and no further trouble is anticipated.

12. June 22, 1893 The Herald Los Angeles, CA

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Receiver Hisom Resigns. SAN BERNARDINO, June 21.-George - L. Hisom, who was appointed receiver of the Farmers Exchange bank, having received a telegram calling him east, resigned his office 08 receiver, and today the court appointed John C. King-in his stead.

13. June 25, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, June 25, 1893

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Fresno Experiencing the Stringency. SUSPENSION OF A BANK. The Assets Four Times the Liabilities, but the Money Cannot Be Had Just at Once. Special to THE MORNING CALL FRESNO. June 24.-The Loan and Savings Bank of Fresno announced this morning that owing to its failure to seexpected funds it would not open its created doors cure to-day. The announcement that excitement, as it is well known no the assets of the bank are four to one are liabilities, and that the depositors absolutely safe. Merchants windows at once placed printed notices in their stating that checks depositors in that at or any bank of Fresno would be taken par for merchandise. The business of other banks was unaffected by this temporary suspension, their their depositors being confident of due solvency, and that the suspension market is stringency of the money preventing to a them securing coin or even gilt-edge The report collateral. in a San Francisco paper will that the Madera Bank depositors bank's $40,000 is incorrect. The lose are three to one of its liabilities. assets The Madera Bank will resume business some time next week. The depositors in the closed banks discount. reto sell their accounts at a fuse bank here is insolvent, the inability to realize on securities being the sole cause of the temporary suspensions. The Loan and Savings Bank will open its doors Monday. SAN DIEGO, June 24.-The officers of Bank of Commerce to-day announced that the the bank would reopen on Monday for business. Funds are on the way from San Francisco to strengthen the reserves of the bank, and such majority of de- of positors has agreed to the proposition furpercentage payments that there is no ther fear of run when the bank opens. The depositors who have not signed agreement are not to be reached or are yet unaware of the proposition, as so fara known not one depositor has expressed disapproval of the plan. Such revulsion of feeling from four days is a commentary on: the real causes for the run the bank. Commissioner Gerberding, after com- of pleting the examination of the Bank Commerce, examined tb Savings Bank San Diego County, which is connected with the Consolidated National. So satisfactory was the examination that he told officers that "they had no busine33 close," its and he wired to Attorney-General Hart for instructions to reopen the bank ex on Monday. F. N. Pauly, temporary Na. eminer of the Consolidated and First tional, began an examination of the Consolidated National to-day. He said to the he had no statement to make public, but that he expected to make full report to the Comptroller of Currency. In fact, that he had received telegraphic or ders to proceed with the examination. Nothing could be done to reopen the bank, said, until the Comptroller acted upon the examiner's report. Funds for the First National Bank have been transferred by wire from New York to San Francisco and are being forwaded by express. Upon receipt of them and the of several large cash deposits to be made by bank officials expect to be authorized the Comptroller to resume business. All excitement has passed away and the country banks experiencing no trouble The Oceanside Bank, which closed temporarily, will resume business Monday. VALLEJO, june 24.-There was run on the Vallejo Commercial Bank to-day. the which lasted about two hours. All depositors were finally satisfied that there ample cash on hand to meet all de mands. was No deposits were drawn by com- who mercial houses and number of those had drawn early in the day redeposited the amounts later on. The bank's books were audited to-night and show ample cash on hand to pay any demands that may be made. Los ANGELES, June 24. Banking affairs in Los Angeles are assuming has a normal condition and all excitement died away. The East Side Bank re-opened and to-day, receiving numerous deposits, the two national anks expect to receive from telegraphie permission to do 50 Washington within a week. Judge Widof the University Bank. who arrived the ley from the East to-day, says he expects bank to open its doors within few days The stockholders of the bank have deeded their property, including their homes, to the bank, the aggregate value of such transfers being nearly $400,000. The amount of deposits in the safe deposit vaults of the city is now said to exceed $2,000,000. Some anxiety is felt for their safety, as these institutions were never in tended for the reception of such large sums of cash. SAN BERNARDINO, June 24.-Receiver J. C. King has opened the Farmers' Exchange Bank for the purpose of making collections and will put its affairs in shape as soon as possible. Contrary to expectations and to the predictions of the officers of the bank, the First National did not open to-day, but understood that it is the intention of is the stockholders to resume as soon as possible. Moscow. Idaho.. June 24.-The McConnell-Maguire store, hich was closed by the Sheriff two months ago, resumed business to-day. R. L. Sabin, manager of the Merchants' Protective Union, is trustee, and A. David, one of the stockholders, is the general manager. David expects place the firm on a sound financial basis in a short time. WASHINGTON, June 24. - Comptroller Eckels this morning received a telegram from San Bernardino bank asking permission to reopen. Heanswered he would consider the request when his examiner made report. Bank Examiner Lazar, who was at Los Angeles, has been directed to take charge of the San Bernardino Bank, while Wightman, examiner at San Francisco, will relieve him at the first-named place. Bank Examiner Clare of Tacoma has been directed to go to New Whateom. An application has been received by the Comptroller from all the banks in Spokane requesting him to allow the Washington National Bank of Spokane to reorganize. The Board of Trade at San Diego and the president of the suspended First Nalional Bank of that place have requested

14. July 27, 1893 The Austin Weekly Statesman Austin, TX

Article from The Austin Weekly Statesman, July 27, 1893

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THE PANIC SUBSIDING. MONEY GETTING EASIER EVERYWHERE AND CONFIDENCE RETRUNING. Money Going Back Into the Denver Banks -Suspended. Banks Will Resume Business Shortly-Commercial Bank of Milwaukee Assigns. DENVER, July 21.-Confidence in Denver banks and commercial houses is being restored in the East and at home with nearly the same rapidity that our people attempted its destruction the first three days of this week. There has been no suspension of magnitude for two days and no more are expected. Banking houses have determined that they will push no creditors nor serve an attachment upon those who show an honest disposition towards settling. Times here will probably be until congress meets and that it is expected that if silver then receives fair treatment it will not take long to place Denver and Colorado far in advance of where they were when this transfer came. President D. H. Moffatt of the First National bank has received a telegram from one of the leading banks of New York offering assistance if needed. Mr. Moffat replied with thanks that he had all the money he needed. Other houses have had offers. It is understood that the German and State National have received large sums of money and will be ready to open their doors again within a very short time. CALIFORNIA BANKS REOPEN. SAN BERARDINO, Cal., July 21.-Jas. H. Eckels, comptroller of the currency, has authorized the First Natlonal bank to reopen, which it did this morning. The bank has a large amount of capital on hand, more than enough to pay every possible demand. It is said the Farmers' Exchange bank will also reopen in a short time. BETTER FEELING PREVAILS. NEW YORK, July 21.-The bank presidents reported today that the situation was fairly easy with some shipments of currency to St. Louis, Denver and Kansas City. Money is is easy and there is a more confident feeling everywhere. MILWAUKEE BANK ASSIGNS. MILWAUKEE. July 21.-The Commercial bank failed. It assigned to A. B. Fiefuss, cashier, who filed a bond of $165,000. The troubles of the bank are said to result from its acceptance of a large amount of paper of Corrigan, Ives & Co. The officers of the bank are, E. R. Paine, president; J. C. Flint, vice president, and A. B. Guilfuss, cashier. Capital stock $250,000. The July statement gave total liabiliwhich of ties $1,656,850.85, due is depositors $557,743.22 on demand, $528,915.22 due depositors on time. The direct cause of the sus pension of the bank at this time is attributed to the failure of the Douglass Furnace company of Sharpesville, Pa., of whose certificates of stored pig iron the Commercial bank had about $130,000. It is claimed that somebody ignoring those certificates had the sheriff attach the iron. For some time also depositors in the bank have been quietly withdrawing money from it. A TACOMA BANK. TACOMA, July 21.-The Traders bank suspended today. SCHLESINGER MINING PROPERTY. MILWAUKEE, Wis., July 21.-The first step toward re-organizing the Schlesinger mining property was taken today. A meeting of the Chapin mine owners was held and flve new directors were ehosen. John H. Tweedin, Jr., was elected treasurer. No other changes were made in the directory. GREELY BANK GOES. GREELY, Colo., July 21.-The Union bank assigned today to James F. Benedict of Denver. Depositors are safe. A SMALL BANK. CRESTED BUTTE, Colo., July 21.The Bank of Crested Butte elosed today. Liabilities $35.000, assets $65,000.

15. August 24, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, August 24, 1893

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PLENTY OF MONEY. The Farmers' Exchange of San Berdoon to Resume. SAN BERNARDINO, Aug. 23.-The Farmers' Exchange Bank, which closed its doors on June 17, after having withstood a persistent run for several days, will reopen its doors to-morrow for regular busiLOSS, under authority from the State Bank Commissioners. There is now due depositors $169,666 01. To meet this liability the bank has $128,000 75, being about 80 per cent of its liabilities. Since the bank closed its doors, the paid up capital has been increased from $50,000 to $100,000 and something over $80,000 has been made. The sworn statement which will appear to-morrow will show assets of $354,916 24 and the total amount due depositors and other banks $175,394 28. The bank was never before in such good condition as it is to-day. and it will resume business under the most flattering conditions. No fears are entertained of a renewal of the unfortunate run which resulted so disastrously a few weeks ago and the bank has the hearty good will of all classes of citizens.

16. August 25, 1893 The Morning Call San Francisco, CA

Article from The Morning Call, August 25, 1893

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BANKS RESUMING. There Seems to Be a Sort of Easing in Financial Matters. SAN Bernardino, Aug. 24.-The Farmers' Exchange Bank reopened this morning under auspicious circumstances with about $130,000 in cash on hand, being 80 per cent of the amount due depositors. A large number of new depositors opened accounts with the bank and up to noon to-day the deposits had largely exceeded the amount drawn out and the bank officials are exceedingly happy and buoyant. A large number of prominent citizens dropped into the bank in the morning to congratulate the officers of the concern. RIVERSIDE, Aug. 24.-When the news reached this city yesterday that the Attorney-General had authorized the suspended Riverside bank to resume it caused very general and widespread satisfaction. The resumption of the bank at this time will be the means of putting in circulation a considerable sum of money which has been tied up by the bank's suspension, and this fact will relieve money matters here, a thing very much needed since the

17. August 26, 1893 New-York Tribune New York, NY

Article from New-York Tribune, August 26, 1893

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ASSIGNMENT OF AN ILLINOIS BANK. THREE WESTERN INSTITUTIONS RESUME BUSINESS AFTER SUSPENSION. Paxton, Ill., Aug. 25.-The Ford County Bank, with liabilities of $99,500 and assets of $154,000, assigned this morning to J. H. Moffett and C. H. Yeomans. The cause of assignment was the failure to realize on notes and other paper due. The securities are said to be ample, and with proper management the assignees hope to realize sufficient money to meet all liabilities. Owing to the suspension of the Ford County Bank, the First National Bank closed its doors for a few, minutes only to hold a meeting of its Board of Directors and citizens, who determined that it should instantly resume business. The bank is now open as usual. People deposited freely to-day. Milwaukee, Aug. 25.-A dispatch from River Falls, Wis., says: The Bank of River Falls, which suspended one week ago, resumed business yesterday. San Bernardino, Cal., Aug. 25.-The Farmers' Exchange Bank reopened yesterday. Washington, Aug. 25.-The First National Bank of the Dalles, Ore., suspended payment on July 31. Having complied with the conditions imposed by the Controller of the Currency, and its capital stock being unimpaired, it was to-day permitted to reopen its doors to business.

18. August 31, 1893 Delaware Gazette and State Journal Wilmington, DE

Article from Delaware Gazette and State Journal, August 31, 1893

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MILLS AND BANKS RESUMING. According to Treasury Reports Business is Picking Up All Over the Country-It is Believed to be a Permanent Improvement. WASHINGTON, D. C., Aug. 23.-The general financial situation of the country shows improvement, according to the Treasury standpoint. It is slight, perhaps, but it is believed to be permanent. Bank failures have almost entirely ceased, banks that have suspended under the financial stringency are resuming business. gold which poured out of the country is returning and a general feeling of confidence is being restored. This changed condition was felt last week, and has day by day increased. Money is still scarce, but not so much SO as it was. During the time that gold was being shipped to Europe the United States sustained a net loss of $63,000,000. This gold is now coming back and it is 1 estimated that already $25,000,000 have returned. This specie has found its way into the interior of the United States, much of it to Chicago. Some of it now figures in the bank n balances, but much of it was absorbed by American securities. To this is attributed to some extent the improvement in the general stock market. GovS ernment revenues continue light, which shows that less money than usual is being sent abroad for foreign goods, n which is also considered in the circumstances a good sign. Three banks-The Fourth National d of Louisville; the American National of Puebio, Col., and the Waupaca County National of Waupaca, Wis.-were is o authorized to-day to resume business, er and will soon open their doors. Seven of the 12 banks in Colorado which suspended have now been authorized to rensume business, and the list of resump1tions in other States promises to grow g rapidly as the necessary formalities are complied with. a. ST. PAUL, MINN., Aug. 23.-The 8People's Bank, which closed August to 4th in order to protect its creditors from a prospective run, although at that time r, perfectly solvent and able to pay all dena positors, reopened for business to-day. re It has a capital stock of $200,000 and is one of the strongest of the smaller banks es in the city. vo NEWARK, N. J., Aug. 23.-Clark's st thread mills, which have been shut down for the past three weeks, resumed he operations this morning on three-quarter time. rehe SAN BERNARDINO, Cal., Aug. 25.ce. The Farmers Exchange Bank reopened yesterday. ce RIVER FALLS, Wis., Aug. 25.-The rs, Bank of River Falls which suspended be 11. one week ago resumed business yester at day.

19. September 8, 1893 Idaho County Free Press Grangeville, ID

Article from Idaho County Free Press, September 8, 1893

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NEWS OF THE WEEK. Vacaville, Cal., has raised saloon licenses from $100 per quarter to $500. The yellow fever quarantine in Georgia has been raised and the fever stamped out. The treasury department Saturday purchased 161,000 ounces of silver at 73.5 per ounce. The salaries of all the employes of the Wells-Fargo express company have been reduced from 10 to 25 per cent. A head-end collision on the Harlem railway, near Dykeman, N. Y., caused the loss of four lives Saturday night. Josiah Quincy has resigned his office as assistant secretary of state. He will take an active part in the Massachusetts campaign. The state of Minnesota has about $500,000 tied up in the eleven banks which have suspended in St. Paul and Minneapolis. Miss Millie Brown, an eighteen-year-old girl of Portland, attempted to commit suicide Monday night by taking laud-anum. She was tired of life. W. D. Bowie was almost instantly killed at Vancouver, Wash., Wednesday by the premature explosion of a blast. His body was horribly mangled. An epidemic of dysentery is fiercely raging in the southern provinces of Japan. There have been over 3000 cases, nearly 600 of which have proved fatal. Customs inspectors at San Francisco made a big haul of contraband Mexican cigars Monday. Nineteen thousand boxes were seized on the steamer J. C. Potter. William Edwards while replacing a belt in a mill in Eugene City, Oregon, sustained the loss of an eye by the stick catching in the belt and punching his eye out. The Farmers' Exchange bank of San Bernardino, reopened Thursday morning with about $130,000 in cash on hand, being 80 per cent of the amount due depositors. While in a fit of temporary aberation, Monday, Frank H. Sheffield, a prominent prohibitionist of Providence, R. I., attacked and killed his 5-year-old daughter. A cyclone passed over Eastern Silesia Thursday last. One hundred houses at Neustadt Kozel and Gberglogan were un-roofed, crops destroyed and several persons killed. A Buenos Ayres dispatch says: All the executive, legislative and judicial authorities of La Plata have been suspended. Several officers of the La Plata garrison were arrested. The city of Birmingham, Ala., has voted to issue paper scrip or paper promising to pay bearer. These will be denominations of twenty-five cents up, and at least $5000 will be issued. Prince Ferdinand, heir presumptive to the Austrian throne, arrived in Hong kong July 21. The prince, who is making a tour of the world, will visit Japan and then leave for San Francisco. Special Officer Charles Wextel, who was shot by George Clark on Sunday night at Sacramento, Cal., died from his wounds at 2 o'clock Tuesday morning. The murderer succeeded in making his escape. A special from Port Royal, S. C., says 100 lives were lost there and at Beaufort and other places in the vicinity during the storm. Nearly all were negroes. Twenty persons were drowned on Paris Island. The boiler of a threshing machine engine exploded near Napa, Cal., Thursday. Fireman John Lansber, an Austrian 32 years of age, was instantly