Bonner & Bonner (Tyler, TX)

Episode Information

Episode UID
1285893391103
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
128589339 hash
Start Date
November 15, 1891
Location
Tyler, Texas (32.351, -95.301)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
887f636380e199b2

Response Measures

None

Description

Suspension/assignment followed an attachment by the I. & G. N. railroad receiver; bank appears to have closed permanently.

Events (3)
1. November 15, 1891 Suspension
Cause
Correspondent
Cause Details
Attachment by T. Campbell, receiver of the International & Great Northern Railway, for railroad deposits (~$385,218) precipitated suspension.
Newspaper Excerpt
The banking-house of Bonner & Bonner has been forced to the wall. Yesterday its paper went to protest in New Orleans, and Receiver Campbell ... ran an attachment against it for $385,218.
Source
newspapers
2. November 16, 1891 Other
Newspaper Excerpt
The failure is in fact an assignment for the benefit of certain preferred creditors and the depositors generally. The assignment of the bank of Bonner & Bonner ... to W. H. Whittaker, on Saturday last, has caused immense excitement.
Source
newspapers
3. November 16, 1891 Receivership
Newspaper Excerpt
The banking house of Bonner & Bonner has assigned for the benefit of preferred creditors and depositors generally; liabilities will exceed $500,000.
Source
newspapers

Newspaper Articles (19)
1. November 16, 1891 The Record-Union Sacramento, CA
Article from The Record-Union, November 16, 1891

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FORCED TO THE WALL. One of the Oldest Banks in Texas Suspends Payment. NEW ORLEANS, Nov. 15.-A TimesDemocrat's Tyler (Tex.), special says: The banking-house of Bonner & Bonner has been forced to the wall. It had a successful career of twenty years, and a reputation as one of the solidest and soundest banks in the State. The news of the failure spread like wild-fire, and was the one topic of conversation. It has been known by those familiar with its affairs that the bank was in straits, but it was thought that it would be able to pull through. Yesterday its paper went to protest in New Orleans, and Receiver Campbell of the International and Great Northern Railway, ran an attachment against it for $385,218, being the amount belonging to the receivership on deposit. There had been deeds of trust executed by the bank as guarantee for the railroad's deposits. Receiver Campbell, thinking its deposits still insufficiently secure, ran the attachmentabove referred. The failure is, in fact, an assignment for the benefit of certain preferred creditors and the depositors generally. It is thought that the loss to outside banks will be small, as most have withdrawn their balances or were secured. The individual and business deposit accounts were heavy, and the loss will be severely felt, many men losing the savings of years. The failure will occasion no panic at other banks of the city. This evening the books showed, as far as can be learned, that the bank's liabilities will exceed half a million. The assets are said to exceed the liabilities, but as they consist of stock and personal paper, it is not known whether they will realize face value.

2. November 16, 1891 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 16, 1891

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ITS PAPER WENT TO PROTEST. Banking-House of Bonner & Bonner, of Tyler, Tex., Forced to Close Its Doors. TYLER, Tex., Nov. 15.-After the successful career of twenty years, during which it had built up a reputation as one of the solidest and soundest financial institutions in the State, the banking-house of Bonner & Bonner has been forced to the wall. The news spread like wild-fire throughout the city this morning and soon was the topic on every tongue. For some time past those familiar with its affairs have known that the bank was in straits, but it was thought that it would be able to pull through all right. Yesterday, however, its paper went to protest in New Orleaus. and last night T. M. Campbell, receiver of the International & Great Northern Railway Company. secured an attachment against it for $385,218.13, that being the amount of the moneys belonging to the receivership, then on deposit in the bank, which amount it was unable to pay on demand. It appears that shortly after Col. J.R. Bonner's death, and after Mr. Campbeil was appointed sole receiver. he made a request upon the bank for a statement of its assets and liabilities, which was furnished him. This showing. in writing, Judge J. M. Dancan. counsel for the I. & G. N. railroad receivership, saye. showed in a general way that the bank was abundantly solvent. In order. however, to protect the railroad deposit. the bank. on Oct. 3, executed a deed of trust covering real estate in this city and elsewhere valued at $47,000. In this deed of trust Judge Felix J. McCord was named as trustee. Since November 1 the exact (date not being ascertainable, a second deed of trust for the same purpose was executed, conveying to Judge John M. Duncan. as trustee, certain collaterals. including overdrafts up to Oct. 7, amounting in the aggregate to $400,000. A schedule of the securities, debts and overdrafts is attached to the deed of trust. Last night. thinking the railroad deposits insufficiently secured. receiver Campbell secured the attachment above referred to. In addition to these two deeds of trust, Bonner & Bonner yesterday afternoon executed another one, covering all not included in or coverable by the deeds above named. In this latter deed certain parties are named as preferred creditors, and H. M. Whitaker is named as trustee. Theinterest of Bonner & Bonnerin the boot and shoe and gentlemen's furnishing goods house of H. C. White & Co. was also attached by receiver Campbell. This firm carries a stock of $18,000 and owes $5.000. In order to protect themselves as well as their creditors they. this evening. made a general assignment, naming S. A. Overton as the trustee. So far as can be ascertained the liabilities of the bank will exceed $500.000, The assets are said to more than cover liabilit ties, but as they consist in part. at least. of stocks and personal paper, it 18 not known whether they will realize sufficient to pay the deposit account and other debts. It is hoped, however, that such will be the case.

3. November 16, 1891 Wheeling Register Wheeling, WV
Article from Wheeling Register, November 16, 1891

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Article Text

BANK CLOSED. One of the Solid Texas Institutions Closes Up. TYLER, TEX., November 15.-After a successful career of twenty years, during which it had built up a reputation as one of the solidest and soundest financial institutions in the State, the banking house of Bonner & Bonner has been forced to the wail. So far as can be ascertained, the liabilities of the bank will exceed half a million. The assets are said to be more than cover liabilities, but as they consist, in part at least, of stocks and personal paper, it is not known whether they will realize sufficient to pay deposit account and other debts. It is hoped, however, that such will be the case. The immediate cause of the closing of the doors was the attachment made against it for $385,219.13 by T. L. Campbell, receiver of the Internal and Great Northern Railway Company.

4. November 16, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, November 16, 1891

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A Texas Bank Forced to the Wall. NEW ORLEANS, Nov. 15.-The7%mesDemocrat's Tyler, Tex., special says: The banking house of Bonner&, Bonner has been forced to the wall. It has had a successful career of about twenty years and a reputation as one of the solidest and soundest banks in the State. News of the failure spread like wildfire and was the one topic of conversation. It has been known by those familiar with its officers that the bank was in straits, but it was thought that it would be able to pull through. But yesterday its paper went to protest in New Orleans, and Receiver Campbell, of the International and Great Western Railway, ran an attachment against it for $385,218, being the amount belong. Ing to the receivership on deposit. The failure will occasion no panic at the other banks of the city.

5. November 16, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 16, 1891

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Article Text

BONNER & BONNER FAIL. Big Bank of Tyler, Tex., Fails for Half a Million. NEW ORLEANS, Nov. 15.-The Times-Democrat's Tyler, Tex., special says: The banking house of Bonner & Bonner has been forced to the wall. It has had a successful career of twenty years and the reputation 01 being one of the soundest banks in the state. The news of the failure spread like wild-fire and was the one topic of conversation. It has been known by those familiar with its affairs that the bank was in straits, but all thought it would be able to pull through. Yesterday its paper went to protest in New Orleans, and Receiver Campbell, of the International & Great Northern railway, ran an attachment against it for $385,218, being the amount due the receivership on deposit. There had been deeds of trust executed by the bank as a guarantee for the railroad deposits. Receiver Campbell, thinking the deposits still insufficiently secure, ran attachment above referred to. The failure is in fact an assignment for the benefit of certain preferred creditors and depositors generally. Though the loss to outside banks will be small, as most of them have withdrawn their balances or were secured. Individual and business deposits accounts were heavy and losses will be severely felt, many men losing the savings of years. The failure will occasion no panic at other banks of the city. This evening the boot and shoe house of White & Co., in which Bonner & Bonner were interested, made general assignment. As far as can be learned, the bank's liabilities will exceed half a million. The assets are said to exceed the liabilities, but as they consist of stocks and personal paper it is not known whether they will realize their face value.

6. November 16, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 16, 1891

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FORCED TO THE WALL. A Big Banking House at Tyler, Tex., Compelled to Suspend. TYLER, Tex., Nov. 15.-The banking house of Bonner & Bonner has been forced to the wall. It had a successful career of twenty years, and the reputation of being one of the solidest and soundest banks in the state. The news of the failure spread like wildfire, and was the one topic of conversation. It had been known by those familiar with its affairs that the bank was in straits, but they thought it would be able to pull through; but yesterday its paper went to protest in New Orleans, and Receiver Campbell, of the International and Great Northern railway, ran an being attachment against It for $385,218, the amount belonging to the receivership on deposit. There had been deeds of trust executed by the bank as a guarantee for the railroad's deposits. Receiver Campbell, thinking the deposits still insufficiently secure, ran the attachment above referred to. The failure is in fact an assignment for the benefit of certain preferred creditors and the depositors generally. It is thought the loss to outside banks will be small, as most have withdrawn their balances or were secured. The individual and business deposit accounts were heavy, and the loss will be severely felt, many men losing the savings of years. The failure will occasion no panic at other banks ot the city. This evening the boot and shoe house of White & Co., in which Bonner & Bonner are interested, made a general assignment. So far as can be learned the bank's liabilities will exceed $500,000. The assets are said to exceed the liabilities, but as they consist of stocks and personal paper, it is not known whether they will realize face value.

7. November 17, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, November 17, 1891

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A NOTE WENT TO PROTEST. And an Attachment Hastened the Suspension of n Banking Firm. TYLER. Texas. Nov. 16.- The banking house of Bonner & Bonner has been forced to the wall. It had a successful career of twenty years and the reputation of being one of the solidest and soundest banks in the state. It has been known by those familiar with its affairs that the bank was in a strait, but it was thought it would be able to pull through. Yesterday its paper went to protest in Now Orleans, and Receiver Campbell. of the International & Great Northern railway, got out an attachment against it for $385,218, being the amount belonging to the receivership on deposit. There had been deeds of trust executed by the bank as a guarantee for the railroad deposits. Receiver Campbell, thinking the deposits still insufficiently secured, ran the attachment above referred to. The failure, in fact. is an assignment for the benefit of certain preferred oreditors and depositors generally. It is thought the Idas to the outside banks will be small, as most have withdrawn their balances or were secured. The individual and business deposit accounts were heavy and the losses will be severely felt. many men losing the savings of years. The failure will occasion no panic at the other banks of the city. This evening the boot and shoe house of White & Co., in which Bonner & Bonner were interested, made a general assignment. As far as can be learned the bank's liabilities will exceed half a million. The assets are said to exceed the liabilities, but as they consist of stocks and personal paper it is not known whether they will realize their face value.

8. November 17, 1891 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, November 17, 1891

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LATE TELEGRAPH. ASSOCIATED PRESS DISPATCHES AND STATE SPECIALS. UP TO THE TIME OF GOING TO PRESS The Bonner Bank Assignment. Special to the LIGHT. TYLER, Nov. 17.-The assignment of the bank of Bonner & Bonner, of this city, to W. H. Whittaker, on Saturday last, has caused immense excitement. It is generally believed that Thos. J. Campbell, receiver of the I. & G. N. railroad, is at the bottom of the failure. He and Thos. Bonner, deceased, were trustees of that road. Two days after ner died Campbell moved the offices of the I. & G. N. to Palestine and has been against this town ever since and awaiting a chance to get at it. The I & G. N. has been carrying a deposit of about $85,000 the last few days The bank had to borrow to open Saturday; Campbell drew for $50,000 and bank could not pay more than three hundred. Campbell went to Pales tine and returned to Tyler by special in five hours, the engine on return run broke down and head-light exploded, taking an hour and twelve minutes to repair. Campbell got to Tyler at eleven thirty Saturday night, averaged about sixty miles an hour with no head-light on the disabled engine. Bonner and party left for Rusk at two o'clock Sunday morning Depositors are offering to sell at fifty cents on the dollar. Nothing definite ly settled; everything in turmoil; indignation running high. Many poor farmers lose their all

9. November 17, 1891 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, November 17, 1891

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Bank Temporarily Embarrassed. HOUSTON, Tex., Nov. 17.-Bonner & Bonner, bankers, at Tyler, are said to be temporarily embarrassed. An hour before the bank closed Receiver Campbell, of the International and Great Northern railway, it is alleged, presented a check for $400,000. The cash was not ready, but the bank is said to be solid.

10. November 17, 1891 The Dalles Daily Chronicle Dalles, OR
Article from The Dalles Daily Chronicle, November 17, 1891

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A Texas Bank Has Assigned. TYLER, Tex., Nov. 16.-The banking house of Bonner & Bonner has assigned for the benefit of preferred creditors and depositors generally. So far as can be ascertained, the liabilities of the bank will exceed $500,000. The assets are said to be more than able to cover the liabilities, but as they consist in part of stocks and personal paper, it is not known whether they will realize enough to pay depositors' accounts and other debts.

11. November 17, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, November 17, 1891

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Crowds of Wild-Eyed Depositors Throng the Streets, RECITING THEIR TALES OF WOE An Attempt Will Be Made to Break the Dee of Trust and Assignment to the I. & G. N. The Depositors Retain the Best Counsel in Tyler - Public Opinion in Favor of Forcing the Railroad to Disgorge a Little. Depositors Will Make a Fight. Special to the Gazette. TYLER, SMITH COUNTY, TEX., Nov. 16.The excitement attendant upon the failure of Bonner & Bonner, bankers, has not abated. Crowds of wild-eyed depositors have thronged the streets all day anxiously trying to find solace for their woes in recital of individual misery. No new features have arisen in the matter except that the best counsel in the city has been retained by the depositors and now the report is made that the deed of trust and assignment to the International and Great Northern receivers will be burst higher than Gilderoy's kite and the railroad FORCED TO DISGORGE the assets of the bank. Whether this will be done or not remains to be seen yet. Public opinion is to the effect that the railroad will be compelled to abandon the prize and allow the depositors a chance to regain their money. The effect of the failure upon the local business world is very insignificant. The local losses are by people out of business who were depositors. The town is thoroughly aroused, and each individual business man is sure of the assistance of the entire lot. No further trouble is anticipated. The First national bank and the Tyler national bank have increased their deposits to-day to nearly $500,000 and the withdrawal of deposits is very light, not exceeding $10,000. Taking everything into consideration, the town is in a prosperous condition, and sanguine hopes are entertained of better times in the near future.

12. November 17, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, November 17, 1891

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FORCED TO DISGORGE the assets of the bank. Whether this will be done or not remains to be seen yet. Public opinion is to the effect that the railroad will be compelled to abandon the prize and allow the depositors a chance to regain their money. The effect of the failure upon the local business world is very insignificant. Thelocal losses are by people out of business who were depositors. The town is thoroughly aroused, and each individual business man is sure of the assistance of the entire lot. No further trouble is anticipated. The First national bank and the Tyler national bank have increased their deposits to-day to nearly $500,000 and the withdrawal of deposits is very light, not exceeding $10,000. Taking everything into consideration, the town is in a prosperous condition, and sanguine hopes are entertained of better times in the near future. Not Identical With the Tyler Institution Special to the Gazette. RUSK, CHEROKEE COUNTY, TEX. Nov. 16. -It was reported here yesterday that the banking house of Bonner & Bonner of Tyler had failed. This caused considerable excitement among persons who had the mistaken idea that it was identical with the banks of T. W. Bonner & Sons of this city and New Birmingham, and it was expected that there would be a run on these banks this morning. The excitement had subsided by morning and when these banks opened their doors this morning prepared to meet all demands there was not a single deposit withdrawn. Customers have been depositing their funds all day long as usual and at the close the banks had more money on hand than they had at the beginning.

13. November 17, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, November 17, 1891

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Reported bank failures are becoming pleutier as the cold weather approaches. The banking house of Bonner & Bon. ner, Tyler, Texa., suspended Saturday because of its inability to meet obligations. A vast sum of money is tied up in cotton at New Orleans and it is probable that the stringency of the money market hastened its downfall. Money is very tight in the south.

14. November 20, 1891 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, November 20, 1891

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ADDITIONAL DISPATCHES. THE tests of nickel steel plates for war ships made by the navy department are said to be more than satisfactory. SECRETARY NOBLE has ordered the dismissal of Pension Clerk Louis V. Bogy, of St. Louis, for writing a novel slandering the public men and women of Washington. INTERNAL REVENUE COMMISSIONER MASON'S annual report has been made public. It contains many figures of interest. THE Choctaw council has passed an act which will have the effect of mak. ing negroes from the states who seek a promised land go to some other country besides that'nation. The effect is beginning to show itself, as negroes that have been employed in the mines there are being sent away. A STARTLING rumor was current in Paris to the effect that M. de Brazza, who was said to have left secretly for Africa at the head of a new expedition, had been massacred. ANOTHER liberal victory has been won in England. The union liberals had held the seat before. A SERIOUS fire started in the Short & Forman job printing establishment Cleveland, O. Capt. John Grady was killed and two firemen fatally hurt by a falling floor. SENOR MONTT, the new Chilian minister to the United States, was formally presented to President Harrison on the 14th. NETTIE BEIDLER, a Salvation army private, shot Hattie Smith, a captain of Oskaloosa, la., mortally and killed herself on the street in front of the quarters in Omaha, Neb. Jealousy and religious frenzy were the cause. MENORIAL services to the late Charles Stewart Parnell were held in the Academy of Music, New York, on the 15th. Depew was the orator. BONNER & BONNER old and prominent bankers of Tyler. Tex., have executed deeds of trust for all their property. The failure is a bad one. THE money centers of Europe are in a decidedly depressed condition. Paris is especially troubled over the situation. There was almost a panie in Vienna. REPORTS from Brazil continue to be of the most conflicting character. According to one account battles have been fought, but the Brazilian foreign minister declares that all has been quieted, even in the Ri Grande do Sulj THE German courts have decided that Ida Green, daughter of a San Francisco servant girl, is the legal Baroness von Banckow.

15. November 20, 1891 The San Saba Weekly News San Saba, TX
Article from The San Saba Weekly News, November 20, 1891

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The large banking house of Bonner & Bonner at Tyler, Texas, executed & deed of trust and suspended business for the present.

16. November 24, 1891 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, November 24, 1891

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TYLER FAILURE. The Third Growing Out of the Attachment of Bonner & Bonner's Bank. Special to the Gazette. TYLER, SMITH COUNTY, TEX., Nov. 23.Another failure occurred here last night. Frank Allen made a deed of trust to Sam Field, naming about thirty preferred creditors. The liabilities run up to nearly $20,000, with assets estimated at $15,000. This is the third failure growing out of the suspension of Bonner & Bonner's bank, but no further trouble is anticipated. Col. W. S. Herndon has filed a paper here asking an injunction restraining the trustee from collecting the securities turned over to the International and Great Northern railway by Bonner & Bonner. If the junction is granted it will tie up th accounts of the bank for some time come. Fd the New City ectory. The publish of th City directory, having completed vass for the names, respectfully re st all persons making dent or business locachanges in thei tions, firm na es, ployes, etc., to notify in them at onc or to have the same correctly in rted in new directory. Address P. V. Box 253, MORR ON & FOUR Publishers. Nov. 22, 1891.

17. November 25, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, November 25, 1891

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With Liabilities of 820,000. TYLER Tex, Nov. 24 -Another - failure occurred here Monday night Frank Allen made a deed of trust to Sam Field. naming about thirty preferred creditors. The liabilities run up to $20,000. with assets estimated at $15,000. This is the third failure growing out of the suspension of Bonner & Bonner's bank. but no further trouble is anticipated.

18. December 25, 1891 The San Saba Weekly News San Saba, TX
Article from The San Saba Weekly News, December 25, 1891

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The suspended bank of Bonner & Bonner at Tyler has reached a settlement on the basis of fifty cents on the dollar.

19. January 7, 1892 Herald and News Randolph, VT
Article from Herald and News, January 7, 1892

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2. S. V. White & Co., grain speculators OD New York and Chicago, failed for nearly $3,000,000. OCTOBER. 9. Jonathan Stewart, Trenton, assigned: liabilities, $329,000. 2. Bank of Lewisburg, Tenn., assigned. NOVEMBER. 1. Maverick National bank, of Boston, went into hands of comptroller; liabilities, $8,000,000. 7. National bank, of Corry, Pa., suspended: liabilities, $740,000. 10. C. B. Paul. lumber dealer, assigned in Louisville: liabilities, $200,000. 12. F. H. Smith & Co., ship brokers, assigned in New York: liabilities, $300,000. 1. Bonner & Bonner, bankers, failed in Tyler. Tex., for $500,000. 15. First National bank. Wilmington, N. C., failed. 57. Field, Lindley, Wiechers & Co., bankers and brokers, assigned in New York: liabilities, over $1,000,000. DECEMBER. 1. Richmond, Nicholasville and Beattyville railroad, of Kentucky, went into hands of receiver; $3,000,000 in debt. 11. Francis H. Baker & Co., dry goods, assigned in New York: liabilities, $250,000.