9927. First National Bank (St Paul, MN)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 203
Charter Number: 203
Start Date: August 4, 1893
Location: St Paul, Minnesota (44.944, -93.093)

Metadata

Model: gpt-5-mini
Short Digest: 1f3f6ad9

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Books examined

Description

A heavy withdrawal/run occurred on the First National Bank of St. Paul on Aug 4, 1893 tied to the suspension of the National German-American Bank and general unrest. The First National remained open, had ample cash, and did not suspend; offers of support (Jim Hill) and tellers stayed to pay depositors. Classified as run_only.

Events (1)

1. August 4, 1893 Run

Cause: Local Banks
Cause Details: Run was induced by the suspension of the National German-American Bank and general unrest in St. Paul; depositors withdrew from multiple banks.
Measures: Paying tellers remained on duty; bank stayed open to meet demands; public assurance and support from large stockholder (Jim Hill) offered.
Newspaper Excerpt: At the First National the doors remain open also, and Cashier Banley said the paying tellers would remain as long as there was a depositor in sight. The bank had a million dollars more than enough to pay every dollar asked for.
Source: newspapers

Newspaper Articles (7)

1. April 20, 1893 Eagle River Review Eagle River, WI

Article from Eagle River Review, April 20, 1893

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in old NEWS PARAGRAFILLE restaurant Stock DELMONICO'S near famous the New for York good and Broad Street, been closed into new hands building has torn down. all. Exchange The and isabout has to Bank be passed of St. Paul. First National for a receiver James for Minn., has Frank memBruno THE Beaupre, asked B. Keogh, Arnold, ComDavis ano Thomas Mercantile $400,000. bers M. of the recently Beaupre failed for clerk, has BART BRENNON, St. Louis pany which a discharged on complaint He been arrested at Shoe Company. damage the of the Enterprise threatening to firm. The sent letters of the these threats. John financial standing assigned under Sigler, of company SEVERAL years found ago dead with in the his throat upper I | a portion Oceola, of was knife an old lying house by man his confesses side. Now to killed cutand brother of a of the him, "dead making the confession having on trouble his deathbed which has and been Italians brewing time at between THE the Hungarians vicinity for some battle. As and in a bloody dead, two missing, of result two to men be lying at others the are ly a has mine supposed hole, and three are bottom of serious- harbor- a injured. EGAN is accused United States orders legain Chili. Chilian MINISTER criminals in the received nment tion ing to surrender to and He the has Blanko government Holley, in a recent- esCol. Fuentos prisoners conspiracy and leaders to blow up lv caped discovered in Santiago. bagpublic buildings of the baggagemasters porters ferry SALARIES baggage vylvania Railroad and been the got engineers gage agents, of working the Pennsylvill in New raised York without Company Jersey City, it. have The engineers when they retheir tidings asking a month their ago pay envelopes instead good ceived $100 of the each in expected the in United $90. suit States of circuit A. the court A Black, DECISION at New of Edinburgh, York Britannica, in the publisher against G. Allen of Funk C. Encyclopedi and the Henry of the publica& Wagnalls for the piracy the plaintiffs, defendants and Company favor of the retion, from is in enjoins or selling the of the Cashier Flood, has prints. THE bail Kelly of Banking Company, from $20,000 raised charged Donohue- at San Francisco with misap- funds. to New to been propriating $40,000. He $164, is 000 of H. the Greer, bank's himself of for THE Rev: declined David to allow the vacant leaves York, put has in nomination bishopric. This nominabe Massachusetts open for new tions. the field arrangements entirely for League the convention 18, of 19 and Press THE International May The indications of the at St. Paul, complete. Paul meeting the most 20, Clubs are practically are that the successful St. that the the league will be has held. ground workings mine, of one THE under D., Terra is on fire Deadwood Homestake S. group The fire feared started is the great burning fiercely level and workings it is of the eating its which are has and in the 200-foot way to the all connected. resolved other mines, Presbytery by the last reIowa sent down to a THE overtures Assembly in regard of faith the be General that the negative, fession and that to apvision of in the by overtured view of preanswered Assembly with scriptural the creed. DR. General point paring a a committee short, concise L. FLANDERS, whose practicing wealth FRANCIS Kansas City, was convicted is physician e estimated fraudulently at at securing Henrietti $200,000 the Goetz, signatures deed hus- to of and warranty and senof band certain Ludwig and valuable wife, three to years property, a in the penitentenced tiary. Detroit to Electrical Company Warren, said THE to be embarrassed. lumber mill at B. THE Wetmore Loss, $25,000. re-elected J. Pa., burned. Trust of the association. two Greenhut THE MRS. Whiskydent WILLIAM perished president ARNOLD in their burning and drowned her home at children per. Brooklyn. FOUR men, strangers, to cross were the Klamath while attempting.to Cal. well-known JAMES lawyer of 48. River at Gold H. a died York, of criminal heart Rev. failure, Morgan aged Episcopal Dix, of New bishop of SNEAD and was the declines THE Massachusetts to husetts become was Diocese. called to his shot door to death near FRANK WILLIAM St. by Joseph, an HICKEY unknown Mo., brillton, has assassin. been Ark., held for to the La- the jury John at M. Clayton tacked grand murder GANG of of highw wayment He shot fayette A the Billig men near dead and a new M. morning the fey, a Baptist one Democratic Pomaire PITTSBURG of penny is to have politician, J. is preach- back Guf- of dead his garden. has er it CALVIN of Milton, Heart DAUGHTERS, Ia., disease was found is the tendered supposed the the Agriculpositionepartment cause. SECRETARY of foreign MORTON agent to John of Mattes, Jr., Ky., of tural IN Nebraska. a Painter saloon shot row at and Wallacetownight killed living near Ill., Arnold. Isaac MAURICE POWERS, was a farmer,1 thrown from a saloonshot wagon Galesburg: TOOZE and ROGERS. killed. his wife a Minneapolinistaking fatally, fell Ore., THOMAS fast 11., her keeper for a burglar. STENGLE, of train Salem, at Kirkwood, YOR off a Burlingtoned. and was of Keokuk La

2. August 5, 1893 Grand Rapids Herald Grand Rapids, MI

Article from Grand Rapids Herald, August 5, 1893

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STOOD THE RUN. Solid St. Paul Banks Pay Uneasy Depositors. Sr. PAUL, Aug. 4.-St. Paul did not suffer seriously from the shock of the suspension of the National GermanAmerican bank. But two banks failed to weather the financial storm which broke over the city this morning. and these were very small ones-the Peoples' and the West Side bank. During the early banking hours long lines of depositors were in front of nearly every bank in the city. By the noon hour the crowds melted away from all the banks except. the Germania and the First National. Depositors kept withdrawing money from these steadily up to 3 o'clock. At the Germania Cashier Bickel appeared at that hour and posted a large placard stating that the bank would remain open until midnight to pay all demands. At the First National the doors remain open also, and Cashier Banley said the paying tellers would remain as long as there was a depositor in sight. The bank had a million dollars more than enough to. pay every dollar asked for. The run was a wholly senseless one, induced solely by the general unrest and by 6 o'clock not a depositor was in sight. The situation was very much the same at the Germania, and by 5:30 with. drawals had practically ceased. The clearing house statement was more favorable this evening than was expected, and the bankers express the belief that the run will amount to nothing tomorrow.

3. August 5, 1893 The Sun New York, NY

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MORE ST. PAUL BANKS DOWN. Meavy Runs on Some of Those Still Open-Other Banks In Trouble. ST. PAUL. Aug. 4.-There were two more bank failures in St. Paul to-day. followed by runs on several other banks. The People's Bank suspended this forenoon. President Rittenhouse gave as a reason for the suspension that depositors had been withdrawing their funds and that the bank was unable to realize on its assets. The bank was organized in December 1882. with a capital of $200,000. C. E. Rittenhouse is President: William Constans, Vice-President. and E. R. Moore. Cashier. It has always been considered reliable and solid. Officers and directors of the bank believe that the suspension is only temporary. This afternoon Mr. Rittenhouse said that last March the deposits were $266,000. and that now they had been pulled down to $160,000. Ho said that the assets would amount to $400,000 and the liabilities to $185,000. The New York correspondent of the People's Bank is the Chase National, The West Side Bank made a temporary suspension at noon. The directors fully expect to reopen just as soon as they can realize on some of their paper. The deposits were light and the bank can commence business again on a small amount of money. The depositors will not lose anything. The bank was organized in August. 1886. Its paid-up capital is $100,000. The officers are Joseph Minea. President: John Ickler. Vice-President. and George H. Hosmer. Cashier. The National German-American Bank which suspended yesterday. gave out a statement of assets and liabilities to-day. It has total assets of $5,000,000 to pay deposits aggregating $2,261,000. The deposit account has been reduced $332,955 since July 12, but the discounts have been reduced only $115,000. Comptroller Eekles has appointed D. W. Lawler. who was Democratic candidate for Governor and United States Senator. temporary bank examiner of the suspended National German-American Bank. Both of the Minnesota examiners are out of the State at present. Mr. Lawler received his instructions from Washington this morning. and has entered upon his duties. It is said that the National German-American WAS behind the large dry goods firm of Schuneman & Evans, and that its suspension may disastrously affect that firm. The run on nearly all the banks of the city was quite heavy. and a queer feature was that all depositors were paid in gold instead of bills. It was almost impossible to get checks cashed in paper money. and one man with $3,000 in gold vainly visited six banks to get this sum changed into bills. The savings banks are insisting on their sixty days' notice of withdrawal. The runs on soveral of the banks continued all this afternoon. and it was feared that some of them would have to go under. But they managed to survive. The First National. one of the oldest and most heavily capitalized in the city. sustained a terrific run from about 11 until U o'clock. The bank closes at 3 usually. but at that hour a long line of depositors was waiting outside. President Upham and several of the directors. Fast Saratoga and Lake George Specials every day via New York Central.-Ade.

4. August 5, 1893 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, August 5, 1893

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QUITE A FLURRY AT ST. PAUL. A Persistent but Unavailing Effort to Break a Couple of Banks. ST. PAUL, Aug. 5.-St. Paul did not suffer seriously from the shock of the suspension of the National German-American bank. But two banks failed to weather the storm that broke over the city, and these were small ones-the Peodle's and the West Side banks. The two only had $160,000 in deposits, and of this $88,000 is city, county and state funds. During the early banking hours long lines of depositors were in front of every bank in the city, By the noon hour the crowds melted away from all the banks except the Germania and First National. Depositors kept withdrawing money from these steadily up to 3 o'clock. At the Germania Cashier Bickel appeared at that hour and posted a large placard stating that the bank would remain open until midnight to pay all demands. At the First National the doors remained open also and Cashier Bailey said the paying tellers would remain as long as there was a depositor in sight. President Hill, of the Great Northern, a large stockholder of the First National, sat in the bank all the afternoon, smilingly chatting with President Upham. It was stated that be had $2,000,000 in ready cash which he was willing to place at the disposal of the bank at a moment's notice. The institution, however, had no need of help from any source. It had $1,000,000 more than enough to pay every doll: asked for. The run was a wholly senseless one, induced solely by the general unrest, an dby 6 o'clock not a depositor was in sight. The situation was very much the sam at the Germania, and by 5:30 withdrawals had practically ceased. The clearing house statement was more favorable than was expected, and the bankers express the belief that the run will amount to nothing today. Daniel W. Lawler, late Democratic candidate for governor of Minnesota, has been appointed examiner to take charge of the GermanAmerican. It is stated that the bank will reopen for business in about fifteen days. Its bills receivable exceed its deposits more than $2,000,000.

5. August 11, 1893 Little Falls Transcript Little Falls, MN

Article from Little Falls Transcript, August 11, 1893

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Several who were in St. Paul and saw the run on the First National and Merchants banks say that Jim Hill, of the, Great Northern, came down and quite dramatically declared to the frightened crowd that he had plenty of money and would loan those banks all they wanted, if by any posible chance they should run short. And It is reported that Mr. Hill thus,restored confidence.

6. August 15, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC

Article from The Progressive Farmer, August 15, 1893

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CONGRESS HAS MET. Confidence Not Yet Restored--Gold Still Coming Back and the Sherman Law Still in Operation-More Money Is the Only Thing that Will Stop the Failures. CHICAGO, Ill., Aug 4 -Receivers were appointed to day for the great wholesale and retail houses of the Jas. H. Wheeler Company. The application for receivers was made by creditors, including A. D Juilliard, Bliss, Fabian & Co, the H. B. Claflin Company, of New York, and Columbus R. Cummings, William B. Howard and Irving, Hartz Enow, of Chicago. The receivers are the Chicago Title and Trust Company and William A. Mason, the latter being the treasurer of the firm. A. D. Juilliard is a creditor for $120,000, Biiss, Fabian & Co, for $200,000, and the H. B. Claflin Co. $30,000. The full amount due New York creditors is said to be about $2,000,000, while the total liabilitiesare estimated at $2,400,000. MILWAUKEE, Wis., Aug. 4-A sensation was caused to day by the bringing of suits against Senator John L. Mitchell, principal stockholder of the Wisconsin Marine and Fire Insurance Company Bank, by the receiver of the corporation and by the widow of Alexander Mitchell, mother of the Senator. In addition to thesuits brought against Senator Mitchell by the receiver, actions were brought against David Ferguson and John Johnson, also stockholders in the Mitchell Bank. ST. PAUL, Minn., Aug. 4-The an nouncement this morning that the National German-American Bankwhich has a larger capital than any other bank in St. Paul-would not open its doors for business caused tremendous excitement, and when the other banks opened there were long lines of depositors in front of every one of them. The outlook was so threatening that the People's and West Side bankstwo small State institutions-did not open their doors. By the noon hour the crowds melted away from all the banks except the Germania and the First National. Depositors kept withdrawing money from these steadily up to three o'clock. At the Germania Bank Cashier Bickel appeared at three o'clock and posted a large placard announcing that the bank would remain open until mid night to pay all demands. At the First National Bank also the doors remained open, and Cashier Bailey said the paying tellers would remain as long as there was a depositor in sight. President Hill, of the Great Northern Railroad, a large stockholder of the First National Bank, sat in the bank all the afternoon smilingly chatting with President Upham. It was said that he had $2,000,000 in ready cash which he was willing to place at the disposal of the bank at a moment's notice. The institution, however, had no need of help from any source. It has a million dollars more than enough to pay every dollar asked for. The run was an unreasonable one, induced solely by the general unrest. By six o'clock not a depositor was in sight. The situation was very much the same at the Germania Bank, and at half past five o'clock withdrawals had practically ceased. The Clearing House statement was more favorable this evening than was expected, and the bankers express the belief that the run will amount to nothing to morrow. Each of to day's suspensions was insignificant. The People's Bank was organized under the State Banking act on December 16, 1882, with a capital of $200,000. It had but little more than $100,000 on deposit. The West Side Bank is also a State institution, having been organized on August 24, 1886. Its capital is $100,000 and its deposits had run down to about $50,000. Daniel W. Lawler, Democratic candidate for Governor of Minnesota last fall, has been appointed examiner to take charge

7. August 28, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, August 28, 1893

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The Bank Is Ahead. It is said that during the run on the banks in this city some weeks ago a man went to the First National bank to draw out $1,000. The teller handed him out a bag of silver and a package of bills. The bag contained much less than half of the money. In the excitement the man. gathered up the bag of silver and left the bundle of bills. The name of the man is known to the bank, but it does not know his address, and his name is not in the city directory. He has not yet called for the rest of his money, and it is probable that he buried the bag of silver without counting it and has not yet discovered his mistake.