Union National Bank (St Louis, MO)

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Episode Information

Episode UID
138100886
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
13810 national
Charter Number
1381
Start Date
October 8, 1873
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4e470ba9c7a16cdf

Response Measures

None

Description

Articles report directors deciding to go into liquidation due to currency stringency; no clear depositor run described.

Events (4)
1. July 1, 1865 Chartered
Source
historical_nic
2. October 8, 1873 Suspension
Cause
Macro News
Cause Details
Directors attributed action to the general stringency of currency during the 1873 financial panic; banks in St. Louis had suspended and currency was scarce.
Newspaper Excerpt
The directors of the Union National Bank of this city have decided to go into liquidation.
Source
newspapers
3. October 9, 1873 Other
Newspaper Excerpt
Union National Bank has gone into liquidation; assets are said to largely exceed liabilities and nobody will lose anything.
Source
newspapers
4. October 22, 1873 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (20)
1. September 26, 1873 New-York Tribune New York, NY
Article from New-York Tribune, September 26, 1873

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New-York Daily Tribune. FOUNDED BY HORACE GREELEY. FRIDAY, SEPTEMBER 26, 1873. At a stormy Erie meeting in London, President Watson received a unanimous resolution of thanks, and announced that his road wanted $30,000,000 at once. The French Conservatives claim a majority of 20 in the Assembly in favor of a monarchical restoration; the Republican members threaten to resign in a body. The Spanish Government has demanded of England the release of the Vitoria and Almanza. = The U. steamer Tigress is still searching for the Polaris crew. Secretary Richardson, Attorney-General Williams, and other officials determined, it is said, after long consultation, that the Government should not use any portion of the legal-tender reserve for the purchase of additional bonds. The banks of Chicago, Cincinnati, Baitimore, Nashville, and New-Orleans have suspended the currency payment of large demands. In St. Louis the bank suspension appears to be total. Failures are reported in New-Brunswick, N.J., Selma, Ala., Indianapolis, MemThe schooner Whiting phis, Atlanta, and Augusta. was wrecked at Grand Haven, Mich., all the crew but one being Descued after a thrilling fight with the waves. = An Anti-Kellogg Convention has been called, to meet at New-Orleans Nov. 24. There were no further suspensions in Wall-st., although aid from the Government in the purchase of bonds was entirely withdrawn. The difficulty in getting foreign exchange has affected the export trade somewhat disastrously. The Stock Exchange endeavored, by the appointment of a Committee, to force settlements upon last week's transactions. The Bank Presidents did not favor the theory of the Stock Exchange 10 regard to the resumption of business. ==== Sprague's attorneys endeavored to show that the money for his investments was borrowed from the Brooklyn Trust Company. The Grand Jury issued a public call for testimony. The District-Attorney refused to announce his intentions concerning the jail frauds. The Committee on investigating department affairs or- The Liberal Republican General Commitganized. tees made arrangements for holding primaries, and listened to Gen. Coctrane's remarks on the issues of the campaign. The Kings County Democratic primaries were held. The Newark Democratic Convention made municipal nominations. = An effort to act on the Police Justice nominations falled in the Board of Aldermen. - The Protestant Episcopal Diocesan Convention was addressed by Bishop Potter. - Prominent delegates to the Conference of the Evangelical Alliance, and Wilkie Collins, arrived. Damaging testimony was adduced in the baby-farming examination. The Harlem Rowing Club's Fall races were pulled, and entries for the National Amateur Regatta were announced. = The New-Jersey section of the NewYork and Oswego Midland Railroad is to return to its

2. September 30, 1873 The Van Buren Press Van Buren, AR
Article from The Van Buren Press, September 30, 1873

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IT All the St. Louis Banks have suspended until the 1st of November. A general suspension of Banks all over the country may be expected.

3. October 2, 1873 The Saline County Journal Salina, KS
Article from The Saline County Journal, October 2, 1873

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There was a bett er state of feeling financially yesterday than there has been since the commencement of the panic. The reports that the Chicago and St. Louis banks would resume this morning was interpreted as a cheering indication that the worst was over. This is probably the case. Indeed, there are evidences on all sides that reason is resuming its sway. Currency is flowing in a steady stream to the West, and mon. ey will soon be abundant.-Lawrence Journal, Sept. 30th.

4. October 9, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 9, 1873

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ST. LOUIS. FAMOUS HORSES AT THE FAIR-PROSPECTS FOR RESUMPTION. ST. LOUIS, Oct. 8.-It is understood that Budd Doble with Goldsmith Maid will be here to-morrow to compete for the $4,000 purse at the fair grounds, also the noted horse Gloster and several other famous equines. At a meeting of the Clearing House Association last evening the question of resuming currency payments was considered and a general opinion was expressed in favor of doing so soon as the New York banks led off. A proposition to gradually cancel Clearing House certificates and in this way resume without reference to New York was discussed, but no action taken. BANK GOING INTO LIQUIDATION-PAIR HOLIDAY. ST. LOUIS. Oct 8 -The Directors of the Union National Bank of this city have decided to go into liquidation. Its assets are seid to largely exceed its liabilities, and pobody will lose anything. The cause their action is the stringency of currency. To-morrow will be observed as a hol. iday, according to the custom for many years past, to allow everybody to attend the Fair. The Merchants' Exchange will be closed, and business will be generally suspended. There was an immense crowd at the Fair to day. the gate receipts alone reaching nearly $20,000. To-night the annual illumination of the 4th street stores took place, and a very brilliant display was made. Fully thirty thousand people thronged that avenue during the evening, most of whom walked through the principal dry goods, jewelry, and other stores, which were most lavishly decorated for the occasion.

5. October 9, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 9, 1873

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ST. LOUIS, The Fair morrow -HOMONE of the Charing House Aasociat OR ST LOUIS, October 8 -It is under etood that Budd Doble, with Gold. emith Maid, will be here to-morrow to compete for four thousand dollar purse at the Fair Grounds; also, the noted horse Gluster," and several other famous equines. At a meeting of the Clearing House Association, last evening, the question of resuming currency payments WAR considered, and & general opinion EXM pressed in 'avor of doing 80 as FOOD 88 the New York banks lead off. A prcposition to gradually cancel Clearing House certificate and in this wav resame without reference 10 New York, Was discussed, but no action taken. Bank This morning the Union Nationa Bank of this city failed to make good its indebtedness at the Clearing House and will be compelled to go into liquidation. Their assets are atundant to meet their liabilities, but they are unable at pre-ent to realize on their 86 curities. This is the first suspension in this city during the present crisis.

6. October 9, 1873 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, October 9, 1873

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FROM ST. LOUIS. LIQUIDATING ST. LOUIS, October 9.-The directors of the Union National bank of this city decided to-day to go into liquidation. The assets are said to largely exceed the liabilities, and nobody will lose anything. The course of this action is the stringency of currency. To-day is OBSERVED AS A HOLIDAY, according to a custom for many years past, to allow everybody to attend the fair. The merchants exchange will be closed and business generally suspended. An immense crowd was at the fair yesterday. The gate receipts alone reaching nearly $20,000. Last night the annual illumination of Fourth street stores took place and a very brilliant display made.

7. October 9, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 9, 1873

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THE FINANCIAL NEWS. A comparison of the reports from other citics with the monotary and commercial nows collected in Chicago yestorday cannot fail to afford mattor for congratulation to all who are intorcated in Chicago's welfare. From every point of view, Chicago ocoupios a better position with referonce to the recont panic and its effects than any prominent city in America. It is the only city of great population and commercial importance in which the banks are pursuing anything like their ordinary business. From St. Louis it is reported that the Union National Bank has gone into liquidation, that currency is scarce, and business dull. In Detroit, the railroads, which pay employes on the 10th inst., will only pay about one-half the wages in currency, giving certified checks for the other half. In Pittsburgh, there has been a failure in the dry goods trade, the prominent firm of McElroy, Dixon & Co. having susponded. In New York, greenbacks are still at a promium, ranging from Mito 18/4 por cout, In Chicago, we have no nows of this kind, and there are no present indications of the financial distress which must be incident to those announcements from elsowhere. The bank deposits are increasing, and there seems to be ample currency to transact the business. The Third National Bank, which reopened its doors yesterday, was not at all bard-pressed. The banks in liquidation are settling rapidly with their creditore, and will without doubt pay dollar for dollar. A movement is also reported having for its object the resuscitation of the Union National Bank. The Stock Exchange in Now York was in the same flurry yesterday that it has suffered for two or three days past, with wide fluctuations. The Vanderbilt securities were particularly ununsettled, and a still greater fall is predicted New York had a report yesterday that Senator Camoron had been in consultation with President Graut about the $44,000,000 "reserve," and that both coincided in opposing its issue or any part of it. It is suspected that the report was intended to "bear" the market; but oven the fact that somebody is drawing on the "reserve" every day does not seem to have the effect of " bulling" the market. The amount of outstanding legal-tender has been still further increased, and is now stated to be $358,966,488. The most favorable nows from New York is that the National Trust Company has resumed (which probably means that it is doing business on the same basis with the other Now York banks), and that the Union Trust Company is making preparations to resumo on the 15th inst.

8. October 10, 1873 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, October 10, 1873

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FINANCIAL. Banks Resume Greenback PaymentsHeavy Grain Receipts, etc. NEW YORK, Oct. 9.-The down town banks virtually resumed the payment of greenbacks yesterday. The step was mainly taken in consequence of the fiattering exhibit of legal ten ders made at the clearing house yesterday morning. Mr. Camp, manager of the clearing house, said that since the issue of the loan cer titicates there has not been so many greenbacks as were seen in the morning when clearances were made. All grains received from the west during the week, aggregating over a million bushels, more than any week in the history of the country, have been paid for in legal tenders. It is onderstood that measures have been taken by the managers of the Unlon Trust Company, whereby loans which were made to delinguent customers will be taken up and the company be enabled to resume business be fore the 15th. NEW YORK, Oct. 9. - Mr. Camp, manager of the clearing house, says he cannot give his opinion as to when there will be a resumption of currency payments by the banks, because he is not prepared to admit that the banks have suspended currency payments. They have, he says, only refused to pay out legal tenders for checks. Legal tenders are rapidly increasing in the banks of this city and the banks are now paying all regular and legitimate demands upon them. AUGUSTA, Ga., Oct 9. -The banks here have resumed currency payments. There have been heavy receipts of cotton, but money is too scarce to save the crops. About $500 hve been forwarded for the relief of Shreveport and Memphis. There has been a light frost throughout this section. CINCINNATI, Oct. 9. - -The Clearing House Association to day decided to issue no additional clearing house certificates, and also returned 50,000 already issued, thus reducing the aggregate to 450,000. President Cook was instructed to correspond with cities in the West and South relative to the mode and time of currency resumption. CHICAGO, Oct. 9.-The Third National Bank, which suspended September 7th, resumed business yesterday. with gratifying results to the officers. ST. LOUIS, Oct. 9.-The directors of the Union National Bank of this city have decided to go into liquidation. The assets are said to be largely in excess of the liabilities and nobody will lose anything. The cause assigned for the action of the directors is the scarcity of currency.

9. October 10, 1873 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, October 10, 1873

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Banking Affairs. October 9.-The - Third National has resumed. New YORK, October 9.-Some bankshave resumed currency payments. Bankreport greentricks quite plentiful. It is the National Trust Company has business. GA., October 9.-The banks have resulted currency payments. 100 scarce to move cotton, the reipts of which are heavy. New YORK. October 9.--The manager of clearing-house to-day said he could not an opinion as to when there would be sumption of currency payments; as he not prepared to admit that the banks suspended currency payments. The are paying all regular legitimate deminds upon them. ii Louis, October 9.-The - Union National Bank has gone into liquidation, owing to the safeity of currency.

10. October 11, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 11, 1873

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ST. LOUIS. Financial Matters. Sr. Louis, October 10.-The money market seems to be recovering at a snail's pace, with & feeling of discouragement manifest owing, in a great degree, to the failure of the Union National Bauk. The president of this bank affirms its assets will doubly cover its liabilities and leave a large dividend to stock holdere; still the question is raised, Why did they not seek the protection of the Clearing House under the certified check arrangements? There was a little more business at banks to-day. Owing to vesterday being a Fair holiday and business suspended, depositing was very light. Rates continue nominal at a range of from 10 to 15 per cent.

11. October 14, 1873 Alpena Weekly Argus Alpena, MI
Article from Alpena Weekly Argus, October 14, 1873

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News Items. S Capt. Lapidge, commander of the Costa Rica, which was run ashore at the mouth of San Francisco harbor recently, has been suspended from the service of the Pacific Mail company. Brigham Young has been re-elected President of the Church of Latter Day Saints without opposition. Gen. W. Clark, Adjutant-General and Chief of Staff of the army of the Tennessee in its campaigns under McPherson, will address his o comrades at Toledo this week, on I The Staff of the Army of the e a Tennessee." Snow fell Tuesday on the mountains of Utah. e F Immense quantities of ore and I bullion are locked up in Utah owing to the lack of currency. An old man named Arizon Wisbok was burned to death in the ''m bagging factory of Richardson, a Henry & Co., of Louisville, destroyed Tuesday. is The directors of the Union Naftional Bank of St. Louis have de( cided to go into liquidation. Their assets are said to largely exceed 1, their liabilities, and nobody will or lose anything. The cause of this n, action is the stringency of currency. 's Work was resumed at the Pemte broke iron works at Eastport, Me. le Thursday. The workmen have n been on a strike for some weeks, d owing to a reduction of wages. nThe Elliott block in Newton nMass., was burned Wednesday ly enight. Bacon, owner of the block nd loses $35,000; insured $12,000. W The Railroad Conductors' Life erAssociation met in Boston, Wednes ir day. Since its organization i ng has paid to families of deceased members and to partly disabled ad members $568,887. is The Masonic Grand Lodge o s ! Illinois, Wednesday, elected officers g The treasurer's report shows a bal nr ance of $10,544 in the treasury. al Bushong & Brothers, bankers a es. Reading, Pa., suspended Thursday oThe assets will meet all liabilities. er The St. Louis fair was attended I'Thursday by 60,000 people. Gat receipts $30,000. The crowd pre vented the race between Goldsmith Maid and Gloster from trotted re gularly, but an exhibition was giver of in the arena of the amphitheatre. ty, As one telegraph is buried under be the sea, so all others are to be buri ed under the earth. It is now de ng on finitely settled that the telegraph on wires in Germany are no longer to as be affixed to poles in the open air be but are to be buried in under of ground tubes. The schooner Lucy Nancy wa TO dismasted and water-logged neat rd Cape Ann in the gale of Wednes th day. The captain and crew tool to the boats and when discovered is one man was dead, another had ol- just been washed overboard and lost and the captain was barely ng alive he lie The new Odd Fellows' hall in Cleveland was dedicated Friday with the usual ceremonies. of

12. October 15, 1873 Lexington Weekly Intelligencer Lexington, MO
Article from Lexington Weekly Intelligencer, October 15, 1873

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# THE FINANCIAL SITUATION. The financial situation improves slowly, but, we trust, surely and sul-idly. The Cincinnati, Chicago and country banks genera ly have resumed business fully. In our own city no doubt is entertained that the worst is over. The failure of the Union National of St. Louis last week cro-ated a considerable degree of apprehension, which was speedily dissipated by the prudence and judgment of our bankers and business men. Robert Aull, the president of the disrupted institution, spent the early years of his life in this city, and here accumulated a fortune in the banking business. It was for a time feared that many of our business men would be involved in the misfortunes of the bank, and hence the auxiety. This fear was without foundation. The amount of individual deposits in the bank from Lafayette county wore quite insignificant, and our local banks are uninjured. It is now believed that the assets of the Union National are ample to meet every liability and return to the stockholders 60 per cent. of their stock. Business revives slowly. Confidence is proverbially of slow growth. It is better, however, to proceed slowly and surely, than by overhaste to bring on a relapse. The croakers in the cities are still at work, but their voices grow feebler every day and the response in the country is no longer audible. Hopefulness seems to peryade every section of the country, especially the West. The following extract from a private letter written from New York on the 11th inst., is a little bit dolorous, but not discouraging; "The first effects of the panic were in this city. The country was the last to feel it. Now we are experiencing the reaction and it is depressing. Our merchants complain of the impossibility of getting remittances from country customers. The panic has stopped circulation in the extrem-ities and shriveled the public confidence, so that everybody who has greenbacks clings tenaciously to his hoard. The effect of this is obviously business paralysis, and our merchants complain of difficult straits this week more than they did during the panic, which prostrated the stock market, but left thein unscathed. "Another circumstance adds to the embarrassement of the financial situation: the banks have omitted their usual statements for two weeks past, and the failure is popularly attributed to the fear of the officers to go before the public with such an exhibit as they would be obliged to make. The idea is, they are afraid to confess their weakness. The gross incompetency of secretary Richardson is universally execrated. It is believed that every act and utterance of this meddiesome official has tended to increase the confusion and distrust. The announcement that he is now issuing the $44,000,000 was received with general disapprobation. Inflation is not the remedy for the evil, and if it is persisted in, results to the business of the country of the most disastrous character may be apprehended." We would simply call attention to what appears an inconsistency in this letter; money stringency is complained of in one section and inflation is denounced in another.

13. October 16, 1873 Helena Weekly Herald Helena, MT
Article from Helena Weekly Herald, October 16, 1873

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A RIBERNIAN BANK INCIDENT. A Woman that Wanted her Money. From the St. Louis Democrat, Septeinber 27, The news of the suspension of the banks of the city, published in the papers of yesterday morning, created intense excitement in Kerry Patch. The thrifty population of that classic precinct are in the habit of depositing their meagre earnings in the savings banks, and anything that casts a shadow upon those useful institutions throws a gloom over the the in Patch. Kerry, The after first feeding duty performed pig and yesterday milking the goat, was to go down town and look after the deposits in bank. One determined WOman took her station in front of the Hibernian Bank, and patiently waited on the sidewalk for two hours, until she saw the doors opened. Then she entered with a firm step, and addressing young Tansey, said, in a voice of thunder: "Is this bank suspended?" 'Yes, madam, but only temporarily." "Tipperarily, is it? I know what a Tipperary suspension is-it manes gone up. I've got $200 deposited in this bank, and I want my money." "Well, madam, you need not talk so loud. Give me your pass book, and you shall have your money." "Have you got it?" "Yes, I've got it. Hand out your book." "Are you sure you've got my $200 safe and sound?" "Yes, here it is. Don't make so much noise." "I've got a right to make a noise. I worked hard for that $200, and do you think I'm going to lose it without making a noise?" "Itell you that your $200 is not lost; here, take it away, and don't talk so loud." "You've got it, have you?" 'Yes; I tell you it is here." My $200?" Yes, your $200; take it and go." What do I want with it? Didn't I put it in and the a launched here for into safe keeping?" lengthy and loud harangue depositor on the banks and bankers, attracting a crowd around the door. One of the directors, finding the woman could not be silenced, called in a policeman, who took her by the arm for the purpose of leading her out. "Is it the likes of you that dares to lay the weight of your dirty claws on a dacent WOman with $200 in bank? Get out of this and lave me alone, ye spalpeen-I'm a dacent woman, G-d-you." At this moment the president of the bank entered, and, learning the cause of the disturbance, ordered the woman to be released, and invited her politely to take a seat. "I don't want to sit down. I've got two hundred dollars in this bank, and I'm used to standin." "Madam, I think you had better take your money." Have you got it ?" Yes, here is your money." What do you take me for? I put my money in this bank for safe keeping, and be not to to it a a away. dad I'm This is goin' bank be of deposit, forced and take I'm depositor-do you mind that?" It was in vain that the depositor was urged to draw her money. She would neither take it nor remain silent. After standing an hour or two longer, and talking all the time at a not children furious had rate, she had remembered their breakfast, that and her with many a protestation against the attempt to force a poor woman to draw her money, and she wended informed her all way the neighbors back to Kerry that the Patch, Hi1 bernian Bank was only foolin', and had not suspended at all.

14. October 17, 1873 The True Northerner Paw Paw, MI
Article from The True Northerner, October 17, 1873

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NEWS OF THE WEEK. The East. Eight inches of snow fell in Delaware county, N. Y., on the 7th inst. Another bank defalcation is reported-that of John W. Pierce, Cashier of the Merchants' National, of Lowell, Mass., whose irregularties" will reach some $50,000. Speculation and fast living, of course. Charlestown, Brookline, Brighton and West Roxbury have voted in favor of annexation to Boston. By these acquisitions that city gains 50,000 population. Pittsburgh manufacturers have agreed to pay their employes half their weekly wages, and credit them with the remainder until financial matters look up, instead of discharging one-half of their hands. The trial of Stokes, for the murder of Fisk, commenced at New York on the 9th inst. The debt of New York city and county, which are practically the same, is $136,208,961.55, on which $6,354,009.17 is payable in interest. Vice-President Wilson's health is almost completely restored. A number of Pennsylvania iron mills have been compelled to suspend operations for the present. The workmen in the collieries in the vicinity of Mount Carmel, Pa., are now paid in gold. A press shooting-match came off last week at the Creedmoor grounds, New York, in which there were twenty-three entries. Gen. Hawley, of Hartford, won the first prize; Clark, of the New York News, the second L. C. Bruce, of the Turf, Field and Farm, the third Tnomas Lloyd, of Harper's Weekly, the fourth Charles G. Shanks, of the New York Tribune, the fifth: and J. K. McIntyre, of the Brooklyn Eagle, the sixth prize. In New York, on the 10th inst., gold was quoted at 1081, and silver 104 to 108. Ex-City Treasurer Sprague. of Brooklyn, who has been indicted for embezzlement, denies having defrauded the city out of a cent. He holds Rodman, his deputy, responsible for all the stealings. A. E. Phillips, formerly Consul to Santiago, committed suicide in New York, last week, by cutting his throat. Eighty-six horses were burned to death in Boston, last week, by the burning of Martin Hays' livery-stable. A young son of Hon. M. D. Leggett, Commissioner of Patents, was recently killed by falling from a cliff, near Ithaca, N. Y. The West. The Third National Bank of Chicago, which suspended during the late financial unpleasantness, has resumed business. The survivors of Capt. Jack's tribe have been sent to Fort Russell, Wyoming Territory. Ex-Congressman John Law, of Evansville, Ind., is dead, aged 77. Mrs. Horton, of Van Wert, O., the other day left her infant in a cradle near the fireplace, and went out to witness a circus procession. When she returned her child was burned to crisp. The Union National Bank of St. Louis has gone into liquidation. A farmer named William H. Brown, while eating his dinner at a Fort Wayne hotel, the other day, was choked to death by a piece of meat which lodged in his throat. The Constitutional Convention of Michigan has declined to admit the eligibility of women to any public office whatever, excluding them even from the school boards. Wisconsin has 225 Granges. A colored man named Price has sued the school directors of a district in Morgan county, Ill., for $10,000 damages, because they refused to admit his children into the school. Chicago's death-roll for August was 1,423; for September, 1,008. The assessments made by the State Board of Equalization on the capital stock of Illinois corporations foot up as follows: Railroads, $62,608,747; telegraph companies, 81,238,394 all other corporationa $19,658,068 total, $83.505,209. The railroads of the State have been assessed, in all, $131,765,727. The aggreagte assessment of the property in the State, real and personal, railroads, capital stock, and everything, amounts to $1,339,882,251 Nearly 75,000 people visited the Chicago Exposition on the 9th inst. Miss Reeves, a young seamstress of Independence, Iowa, took a dose of cold poison the other day, and now sleeps beneath the cold sod. The School Board of Springfield, Ill., has decided that white and colored children shall be admitted to the public schools on equal terms. The conference at Fort Sill has resulted in releasing Satanta and Big Tree, on condition that the savages represented would agree to abstain from murdering and robbing white settlers. The Michigan Constitutional Convention has reconsidered its former action, and voted to make women eligible to school offices. It has also stricken from the draft of the new Constitution the prohibitions upon fictitious or watered stock by corporations. Advices from Washington Territory state that there is very little activity on the line of the Northern Pacific. The surveying and grading on the town site of Tacoma have been suspended, and all employes, except those indispensably required, have been discharged. Two passengers on the Mississippi steamer Muscatine engaged in a savage fight, recently, and in the struggle both went overboard and were drowned. A young son of Isaac Ditman, of Auburn, Ind., while out nutting, a few days ago, fell from a tree and was instantly killed. The National Crop Reporter says reports from Minnesota, Illinois, Iowa, Wisconsin, Missouri, Kansas, and Ohio confirm the estimated falling-off in the Irish potato crop in the States named, which, in 1870, produced over 42,000,000 bushels. The loss at the given rate would aggregate over 16,000,000 bushels.

15. October 18, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 18, 1873

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THE CRISIS. Monotonous Day on Wall Street. Stocks Very Irregular, and Weaker at the Close, Gold Firmer, and Closing at 108 1-4 Jay Gould About to Retire from Active Business. Further Discussion on Resumption of Currency Payments. The Pooling of Greenbacks Severely Denounced. St. Louis Will Resume Currency Payments Oct. 27. More Trouble Among the Massachusetts Factories. Anticipated Rise in the Rate of Discount by the Bank of England. NEW YORK. Special Dispatch The Chicago Tribune, Nzw YORK, Oct. .-Speculation in Wall street has once more ottled back into its customary channel, and is gliding along smoothly Nothing occurred in the street to-day to break the monotony of ordinary routine business. Prices fell slightly from the high figures which ruled yesterday, but the decline was regarded as only the natural result of the too rapid advance, QUOTATIONS Western Union opened at 58. foll to 5636, ad. vancod to 591/6, and finally dropped back to 5016 Lake Shore declined from 6914 to 68, ross to 6916. reacted to 681/5. advanced to 70 and closed at 67% New York Contral declined from 8934 to 881/5 roso to 90, and closed at Rock Island rose from 00 to 021/3. closed 91% Wabash rose from 41 to 49% and closed at 43. Northwestern ad Ivaucad from 40% to 4215 and closed at 41% Pacific Mail dropped from to 33% roso to 345. and closed at 821/2 Union Pacific rose from 191/2 to 201/2. and closed at 19% at opened Gold 107% advanced to 10814. and closed 1081/1 Money ruled BB high % and as low as por cont. closing at per cent. BANKRUPTO RUMORS. Many romors were in circulation. concorning the bankruptov proceedinga in which several prominent houses were involved bill only one these stories could be verified. This was that the effect proceeding were bankruptcy about to be instituted in the matter of the estate of the late Horace F. Clark. Application to Chauncy M. Donew. counsel for the estat tablished the fact that no such proceedings had been bogun or were even contemplated. ANOTHER FLIGHT OF numons. The periodical rumor that Commodore Vanderbilt intended to pay the Lake Shore loan to day was revived and Receiver Weelov. of the Union Trust Company, paid ho WAH Hot AWARE such the any Commodore had intentions The announcement that Jay Gould intend ed retiring from active opora tions in the street was the subject of much comment. Many scouted this assertion on the ground that Gould was too deeply absorbed in his operations to be able to leave. Others believed it true, and reasoned that Mr. Gould having made his tune and seeing the fate of Commodore Vanderbilt. had determined to let II-enough alone. Still advanced other opinion the that gossippers he bad lost large part of his fortune during the recent and, B8 he panic, therefore, could no continue operating on his usual extensive scale, had condescenda to retire Lastly, It was believed that the retirement was for the purpose of setting on foot now and greater onerations Mr. Gould informed reportor to-day that the atrain of the past few years had always been very great but had been remarkably sevore during the last for weeks. His wife had been ill and her physicians had advised that a change of climate would benefit her. He had been gradually withdrawing from his AS he did not believe that the worst of the recent trouble had been felt inasmuch as there must be reaction on the other side before matters would reach their natural level, Ho bad not been in Wall street in several weeks. He fe't that he could retire in comfort. and had already withdrawn from the New Jersey Southern Railroad would which pass the into control of the Baltimore Ohio Railroad Com. pany. He was also arranging for withdrawal from the stock brokerage firms. with which he was connected. He was contemplation three months' or longer visit in Europe or the South for the general benofit of his family. PRODUCE MARKETS noticoaMore inquiry for flour and firmer tone blo in most grades. Shipping brands offered less freely. Choice family brand steady the close the market was better, and there more activo demand for all grades under $7. Wheat market firm; limited arrivals. Exchange opened stronger. but is tame this afternoon Good demand for spring for export. Slight advance exchange aud favora le news from Eurone impart firmor tone Winter steadier and quiet. Moderate call for berth-room. and are not rates, materially though weak, changed. Vesseje for charter in fair request, and market firm with some advance rates for grain. [To the Associal Press.) WHAT AN EVENING PAPER BAYS. NEW York, Oct 17.-The Erness says " There WAS renewed discussion in financial cles on the question of banks esuming courrenov payments. As the mat now stands. Now York is virtually in disgrace, and must be redoomed from this position at an early day When the panio started, our banks had $34,000. 000 legaltender notes, but this amount was reduced to $10.000.000 when the pooling arrangement commenced, and to $6,500,000 in one week after wards, Still later. the amount was decreased to $5,000 000. notwithstanding the fact that the Treasury paid out $12,000,000 al-tenders for boude purchased, and over #4 000 000 for other disbursements. Millione of legal tenders are now locked up in Safe Deposit Companies, old stockings, and mattresses and nothing but the complete restoration of confidence will empty these hoards Confidence has been partially restored, but the Clearing- House now stands in the way of completius the last link between the people and the banks. "An improvement was reported In bank circles to-day, but yet the legal -tendors to tho Clearing House are only $6,605 000. What we want is a greator increase than this which can be accomplished by the banks resuming ourrency payments. The present system pooling was gotten up for the benefit of weak banks, especially those paying por cent on deposits The bound and consorvative banks should insist on redeeming Now York City from its present falue position. and thereby take an important step in the final restoration of confidence. THE DRAIN OF SPECIE FROM ENGLAND The of further shipments of £665,000 from England to America caused considerable comment in banking circles to-day This thing cannot continuo without the Bank England advancing its rate of discount still higher, which may produce some disturbance at London. Iu fact, it is the opiulon of many that

16. October 22, 1873 Lexington Weekly Intelligencer Lexington, MO
Article from Lexington Weekly Intelligencer, October 22, 1873

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# Meekly Intelligencer. LEXINGTON. NO. WEDNESDAY OCTOBER 22, 1873 Old Bill Allen, the fog-horn, has suddenly become the Hon. William Allen, Governor-elect of Ohio. Isaac Pollard, late cashier of the suspended Union National bank of St. Louis, committed suicide last week by jumping from a second story window whilst in a fit of delirium, induced by excessive drink.

17. October 23, 1873 Eaton Weekly Democrat Eaton, OH
Article from Eaton Weekly Democrat, October 23, 1873

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NEWS SUMMARY. The East. A PRESS shooting-match came off at the Creedmoor grounds, New York, last week, in which there were twenty-three entries. Gen. J. R Hawley, of Hartford, won the first prize: W. J Clark, of the New York News, the secoud Bruce. of the Turf. Field and Farm, the third Thomas Llovd, of Harper Weekly, the fourth Charler G Shanks the New York Tribune, the fifth and J.K. McIntyre of the Brookly Eagle, the sixth prize In New York, on the 10th inst. gold was quoted at 1081, and silver 104 to 108. A YOUNG son of Hon. M. D. Leggett, Commissioner of Patents, was recently killed by Exfalling from cliff, near Ithaca, N Y City Treasurer Sprague, of Brooklyn, who has been indicted for denies hav ing defrauded the city out of a cent. He holds Rodman, his deputy reponsible for all the stealings A. E Phillips formerly Consul to Santiago, committed suicide in New York, last week, by cutting his throat in Eighty-six horses were burned to death Boston, last week, by the burning of Martin Hays livery-stable. THERE was fresh tumble of stocks in New York Tuesday, the 14th inst. and Wall street was in state of excitement which, very closely resembled another panic. On the Stock Exchange matters were painfully blue, and quotations fell even below the panic prices of the past ten years. New York Central dropped from 881 to 821 which was taken as an indication of Vanderrilt's inability to hold up any longer, whereupon the whole Vanderbilt list went headlong Western Union fell from 57 to 48 Lake Shore from 66 to 59g and Northwestern and Union Pacific followed suit Various reasons are assigned for the collapse, among them Judge Blatchford's modification of his injunction, which released large amounts of Lake Shore. Western Union and other stocks which had been held by Blake Brothers as collateral the bankruptcy proceedings against Kenyon Cox & Co., in volving Daniel Drew, one of the partners the advance in the Bank of England rate of discount to 6 per cent. and the large sale of stocks carried by the banks on margins, the holders of which could not put up any more collaterals. In addition to these causes there was also a panicky feeling among outsiders who sent in orders to sell large amounts. and thus in turn helped to precipi the avalanche. The ensions of the day were Burgen. Hurlbut & Livingston, sugar house Gillespie, Trow vbridge & Co., tea dealers William Hoge & Co bankers William Wise Cross ano M. Whittemore, C. H. Pierce, stock brokers. The ef fect upon the money market was to from to advance 103 gold 109 The West. THE Union National Bank of St. Louis has gone into liquidation, A farmer named William H Brown, while eating his dinner at a Fort Wayne hotel, the other day, was choked to death by a piece of meat which lodged in Convention Constitutional The his throat of Michigan has declined to admit the eligibility of women to any public office whatever. excluding them even from the school boards Wisconsin has 225 Granges colored the school has direc man sued named Price tors of a district in Morgan county. Ill., for $10,000 damages, because they refused to ad mit his children into the school Chicago's death-roll for August was 1,423; for Septem ber, 1,008. THE assessments made by the State Board of Equalization on the capital stock of Illinois corporations foot up as follows Railroads, $62,608,747 telegraph companies, $1,238,394 all other corporations, $19,658,068 total, $83, 505,209. The railroads of the State have been assessed, in all, $131,765,727. The aggregate assessment of the property in the State real and personal, railroads. capital stock. and everything, amounts to $1.339 9,882,251 Nearly 75,000 people visited the Chicago Exposition on the 9th inst Miss Reeves, young seamstress of Independence, Iowa, took dose of cold poison the other day, and now sleeps beneath the cold BOD The School Board of decide has and shall be admitted to the public Fort Will has resulted in on robbing to able draft stock line the and grad acoma except those been discharge the Missis ssippi breamer engaged in a savage fight, recently and in the struggle both went overboard and were drowned young son of Isaac Ditman, of Auburn. Ind while out nutting. afew days ago, fell from a tree and was instantly killed. The National Crop Reporter says reporte from Minnesota, Illino Iowa, Wisconsin, Missouri. Kansas and Ohio confirm the est timated falling-off in the Irish potato crop in the States named, which, 1870. produced over 43.000. 000 bushels. The loss the given rate would aggregate over 17,000,000 bushels. THERE are 500 Masonic lodges in Missouri, A fearwith membership exceeding 30.000 ful and fatal accident occurred recently near Iowa Falls, Iowa, which resulted in the burning to death of Mrs. Wagner and her two the children, aged and 2 years. Cause, explosion of a kerosene lamp Henry Frye, of McGregor Iowa. has two year-old colt which weighs 1.210 pounds. Another b21loonati -one Prof Palmer has probably made his last ascension At Winan Ind. the other day, his balloon became enta agled in the limbs of tree, and the aronaut was thrown out. He fell some forty feet, and was badly injured ROBERT AUSTIN, a wealthy young farmer residing near Carrollton, Mo. suspected his wife's fidelity, and a few days ago left home ostensibly for St. Louis. Returning to his a house after dark, he secreted himself in closet in his wife's bed- -room, armed with a double-barreled shot-gun. The wife soon retired, and shortly afterward Elijah Haley entered the room, undressed himself. and just as he was getting into bed, Austin prang from his concealment and fired at him but missed his aim. the shot entering his wife' abdomen, inflicting a fatal wound. Austin fired again at Haley and killed him instantly The affair created intense excitement by reason of the prominence of all parties concerned John Skinner. of Atlantic, Iowa, committed suicide a few days ago by shooting himself through the heart The Union National Bank of Chicago, has resumed business Chicago erected during the twelve months ending Oct. 9. 37,013 lineal feet, or more than seven miles of frontage, of iron stone and brick buildings. THE Illinois Grand Lodge of Odd-Fellows was in session at Springfield last week The report of the Grand Master shows that thirty new lodges have been instituted and five vived during the past year. Total membership in the State, 23. .000. Receipts during the year. $18,751.69 balance in treasury. $9,672.16 Lieut. Schuyler with a small force, recently pursued band of Indians from the Camp Verde Reservation, in Arizona. overtook them. andin the fight that ensued, killed fourteen warriors. The South. OVER 1,000 poor children have been left orphans and homeless by the ravages of the yellow fever at Memphis. THE warehouse of Lowry & McGee, at Fulton, Ark., has been burned. Loss $40,000

18. October 29, 1873 Lexington Weekly Intelligencer Lexington, MO
Article from Lexington Weekly Intelligencer, October 29, 1873

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The Dispatch asserts that the banks of St. Louis had five millions more currency in their vaults on Monday, when they resumed payment, than they had at their suspension.

19. October 31, 1873 The State Journal Jefferson City, MO
Article from The State Journal, October 31, 1873

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Sr. LOUIS, Oct. 27th.-All fears that might have been entertained during the fore part of last week, that a run would be made upon the banks when currency payment was resumed, are allayed, as the has such an opinion. The experiment demonstrated banks opened the folly their of doors this morning as usual and if any banker anticipated a provoked demand he did not exhibit it in an outward appearance, but appeared as nonchalant as though his ready capital exceeded all liabilities to an extent not to be estimated. Checking was moderately active, but only to meet legitin.ate requirements, for which immediate capital is necessary. Deposits were as large as on any day since as the smoothly panic began, during and the everything tranquil worked days of prosperity. Discounting was decidedly liberal, considering the necessary stringency of the market which is but the result of the increasing fall business. and every tendency is toward a relief earnestly hoped for by our crippled trade. for two months past. Eastern exchange continues unusually scaree, while the demand is correspondingly large, and much inconvenience is oceasioned thereby. Rates are purely nominal, at a range of 1.10 to 1.25 premium over the counter, and from par to 5 cents premium per 81,000 between banks. The local stock and bond market continues slowly improving. but there is hardly enough animation to allow of any reliable quotations. Gold, buying at 107 1-2. Selling at 108. Silver, buying at 102. Selling at 104. ST. Louis, Oct. 28.-Currency resumption having taken place fully and successfully, without jog or jostle in the machinthat works it, few new are of veloping ery special importance. features The banks deof the city are better prepared to-day to meet the demands of trade than they have been during the year, and the reason is obvious: the short respite of the banks having terminated, it is now easy to see the benefit that has resulted from the suspension, notwithstanding the action must ever remain censurable, because of the injury that has resulted to business, and because such a policy was wholly unnecessary, as yesterday demonstrated ; but he benefits that have accrued are in the increase of banking capital, and in that we find the panacea for the anticipated severe fall stringency. Bankers all agree that their capital has been increased during the from to their collections from by suspension one-fourth the country been one-tenth and other sources, none of which has paid out, but now awaits the demands of trade, which will be eagerly accommodated next week. There is a fair amount of discounting to customers, and some to outsiders, at rates ranging from 8 to 12 per cent. and in the streets from 12 to 24 per cent. Gold, buying, 107 1-2. Selling, 109. Silver, buying, 102. Selting, 104.

20. November 1, 1873 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, November 1, 1873

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News and Other Items. The secession of Chicago from Illinois, and its establishment as an independent state, is still discussed by the local newspapers. The outcast women of Washingtan are said to have contribated $600 to the Memphis sufferers. The amount of bonds already placed by the syndicate is $70,000,000. Their contract ex:pires December 1st. The St. Louis banks, which suspended currency payments a few weeks ago, have all resumed, and are astonished to find that their receipts of currency exceed the payments. The recent storms did great damage on the lake coast in Huron county, Michigan. Many valuable piers were carried away, and vesse Is were driven upon the rocks. The Washington Chronicle advocates tibe passage of some law which will cure the alley :ed evils resulting from the abolition of the franking privilege. At a trial recently held in St. Louis, the pr isoner at the bar, the lawyer who was defendir ig him, the reporter and the Judge, were all clas 3mates in college.