22116. Bank of Anacortes (Anacortes, WA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 17, 1893
Location
Anacortes, Washington (48.513, -122.613)

Metadata

Model
gpt-5-mini
Short Digest
6fdd7214

Response Measures

None

Description

Multiple contemporaneous newspapers (July 17–19, 1893) report the Bank of Anacortes failed to open its doors / suspended owing to inability to realize on securities. No article describes a depositor run as the cause. Later (1894) court reporting names a receiver (John Lemar), indicating the suspension led to closure/receivership. Bank type not specified in sources.

Events (2)
1. July 17, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failed to open / suspended because it was unable to realize on (liquidate) its securities; assets/ liabilities reported (assets ~$78,000; liabilities ~$29,000).
Newspaper Excerpt
ANACORTES, Wash., July 17.-The Bank of Anacortes failed to open its doors today, owing to inability to realize on its securities.
Source
newspapers
2. * Receivership
Newspaper Excerpt
J. E. Boyer, Clarence M. Austin and John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.
Source
newspapers

Newspaper Articles (11)
1. July 18, 1893 The Evening World New York, NY
Article from The Evening World, July 18, 1893

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Various Bus ness Troubles. The Bank of Anancortes. Wash.. failed to open its doors yesterday. Liabilities $21.000 assets, $78. 000. Deto itors will be paid in full. At a meeting of the creditors o' F. A. Brown I Co..furnituremanuianturers.al Boston yesterday. it was deci ed that Mr. own pay 25 per cent. on an indehtednes of $28.000. Phelps & Lembard. leather dealers. of 75 High street, Boston. owe about * 200, 500. which includes 133. 750 10 otes indorsed by Richardson & Dennie. who procured their discount Lappen Company's stock was sold at sherifi's sale al West Superior. Wis.. yesterday for $12,000 to 11. B. Booth. George K. Schofiel'. of Indianapol's for many years n dealer in horses. mules and buggies. mad an assign meat yesterlay for the benefit of cred t. ord. Assets. 860. 000: liabilities. 40,000. Conrad Betzer. or forniture dealer, of Lima. O m ade an a signment yesterday. In conner tion with the Douglas County Bank failure. President George W. Lumley. of Pierre, was Arrested jesie lay also Directors S. 11. Lichter. James A. Wilson and K. M. Poster, of Armour. N. : As a result of the recent The n'on Bank failure Nancy M., W. N. and John D. Niewa son. er. tensive farmers and stock raisers. 01 She yvl e. III., assigned to W. E. Malker. Liabilities. $30,000 assets, $25,000.

2. July 18, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 18, 1893

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Failures. As a result of the recent Thornto: bank failure, Nancy M., W. N. and John D. Stewardson, extensive farmers and stock raisers of Shellbyville, Ills., have ,assigned to W. E. Walker. Liabilities about $30,000; asserts $25,000. The Bank of Anacortes, Washn., failed to-day. The First National Bank of Fort Scott, Kas., the oldest financial institution in southeastern Kansas, has suspended. The Citizens Bank of Ada, the most prominent one in Hardin county, Ohio, failed to open its doors this morning. The Union National Bank of Denver, Col., failed to open its doors this morning. The capital is $1,000,000, No statement can be had. The Commercial National Bank and the National Bank of Commerce have also assigned. A run is now being made on the City National, German National, First Na. tional, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.

3. July 18, 1893 The Herald Los Angeles, CA
Article from The Herald, July 18, 1893

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THE FINANCIAL TIDAL WAVE, Six Kansas Banks Go Down In the Flurry. Several More Kansas City Banks Forced to Close. Savings Institutions of Denver Begin to Collapse-A Georgia Bank Suspends-A Pacific Coast Failure. By the Associated Press. TOPEKA, Kan., July 17.-Six Kansas banks went down in the financial flurry today. They are: The bank of Ritter & Doubleday of Columbue; the Johnson City bank of Johnson City; the Bank of Wier City; the bank of Pleasanton; the Caney Valley bank of Caney, and the Bank of Meade at Meade Center. It is impossible to obtain a statement tonight. The banks have been taken possession of by the state bank commissioner. KANSAS CITY BANK FAILURES. KANSAS CITY, July 17.-The Grand Avenue bank, a private institution, suspended this morning. Assets, $290,000; liabilities, $140,000. It is expected to resume shortly. It is not doubted among bankers that it will pay dollar for dollar. The comptroller of currency took pos. session of the Missouri National bank at noon. It has a paid up capital of $250,000. According to a statement to the comptroller Saturday, it had cash and sight exchange amounting to $271,000; deposits, $900,763, A later statement by the officers shows that the agsets are $1,254,000; liabilities, $700,000. Assistance was on the way from the east, but did not arrive in time, as the depositors were making heavy drafts on the bank. The officers declare the depositore will be paid in full. There was no well-defined run on any of the other national banks, although some deposits were drawn out. DENVER BANKS CLOSED. DENVER, July 17.-The People's Savings bank, the Rocky Mountain Dime and Dollar and the Colorado Savings banks did not open their doors this morning. The assets of the People's are $1,500,000; liabilities, $1,350,000. President Lawrence says the failure will in no way affect the People's National bank. The Colorado Savings bank's statement ehowe: Deposite, $486,000; with 1 aesets, $730,949 in excess of liabilities. 1 The assets of the Rocky Mountain Dime t and Dollar Savings band are $156.803; liabilities, 105,654. The officers of all three say the debte will be paid in full. It is understood that all the assignments were preconcerted for T self-protectson and the protection of the V depositors. President Lawrence of the t People's says the bank had about com1 pleted arrangements for temporary relief from eastern banks, but the doings of the silver convention here caused them to withdraw all aid and the bank o had no other recourse but to assign. f A GEORGIA BANK CLOSED, ( ATLANTA, Ga., July 17.-The First Na. tional bank of Cedartown, Ga., capital $75,000, closed today. The suepension was caused by inability to realize on 1 collaterals. The bank will resume as a state bank soon. A PACIFIC COAST FAILURE. ANACORTES, Wash., July 17.-The Bank of Anacortes failed to open its ( doors today, owing to inability to real1 ize on its securities. Liabilities, $29,i 000; assets, $78,000. Depositora will be t paid in full.

4. July 19, 1893 The Providence News Providence, RI
Article from The Providence News, July 19, 1893

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Other Business Troubles. The bank of Anancortes, Wash., failed to open its doors yesterday. Liabilities, $21,000; assets, $73,000. Depositors will be paid in full. At a meeting of the creditors of F. A. Brown & Co., furniture manufacturers, of Boston, it was decided that Mr. Brown pay 25 per cent. on an indebtedness of $23,000. Phelps & Lombard, leather dealers, of 75 High street, Boston, owe about $200,000, which includes $133,750 in notes endorsed by Richardson & Dennie, who procured their discount. George D. Schofield, of Indianapolis, for many years a dealer in horses, mules and buggies, made an assignment yesterday for the benefit of creditors. Assets, $30,000; liabilities, $40,000. Conrad Betzer, jr., furniture dealer, of Lima, O., made an assignment yesterday. As a result of the recent Thornton bank failure Nancy M., W. M. and John D. Stewardson, extensive farmers and stock raisers, of Shelbyville, Ind., assigned to W. E. Walker. Liabilities, $80,000; assets, $25,000.

5. July 19, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 19, 1893

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eastern Kansas. It had a capital stock of $300,000 fully paid in, and has always stood all runs. A run on the People's Savings Bank was started, but the thirty day law was taken advantage of, and the bank was saved from being swamped. Topeka, Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the fail. ures of the Citizens' Bank of Kansas City, Kan.; of the Bank of Richmond, and of the Farmers' and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion Is expressed that other institutions throughout the State will soon go under. Toledo, July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ablfield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. Anacortes, Wash.. July 18.-The Bank of Anacortes failed to open its doors yesterday, owing to inability to realize on securities. The liabilities are $29,000 and the assets, $78,000. Depositors will be paid in full. Kansas City, July 18.-Although last night the bankers of Kansas City did not expect to get through to-day without trouble. none came: and the impresston prevails that to-day marked the beginning of the end of the recent financial flurry. There is evidence to-day that the people have stopped to think. It is a notable fact that no man who had money in the bank of Kansas City or the Missouri National has the slightest doubt of getting every cent of it. The banks in Kansas City which have failed are the National Bank of Kansas City. the Missouri National Bank. the Kansas City Safe Deposit and Savings Bank. and the Bank of Grand Avenue, the latter being a State bank. Armourdale, Kan July 18.-The Citizens' Bank sugpended payment to day with assets of $151.000 and liabilities of $126,500. State Bank Commissioner Breiden that took possession of the bank. Among the heavy creditors of the bank is the county of Wyandotto, which had on deposit some $40,000 of its funds.

6. July 19, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 19, 1893

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a were hardly nan the above. of the institutions Moffatt, president except of the at First his D. H. stated that the deposits greatly exNational, the day had bank has house during the withdrawals. This manceeded been most conservatively owned always and is almost exclusively by Mr. opinion among the business men more banks will aged, ers and The general Moffatt. and that no is that the run bank- panic in be a over, close, although the obliged way to may continue two. against two or mild three banks believed for a day by financiers or that hav- toIt is run will result in the in poople the strong day's confidence withdrawn ing more that the money and a banks, and at once be redeposited in financial today will feeling be established easier. better will make money recircles, which banks expect to sume business in drain a on the banks The suspended constant short time. about the by The depositors has brought that no scared It is stated by bankers drawn crisis. $8,000,000 has been months, less than banks in the last three to the East from the $3,000,000 has gone there is Of regular this lines of business, but city. The in hoarded in the and there $5,000,0000 vaults are full, homes of safety deposit to suppose that the places in is reason contain secret If oneworkingmen their savings are hidden. etinto circuwhich amount were would lation. fifth of the that stringency in Denver 18.-The cease. FORT SCOTT, bank Kan., of this July city. the oldFirst National institution in Southeastern The First est financial suspended payment. here in 1871, Kansas, established national National was the was oldest and Kansas. largest It had a and bank in Southeastern fully paid in, capital stock of $300,000, runs. Some has always stood all the bank and theheaviest depositors of they will of they are confident bank will say that a dollar. and that the date. A not lose business at an early bank was resume the People's Savings law was run on but the thirty-day the bank thus started, advantage of, and The failtaken being swamped. effect saved ure of from the First National has 110 on KANSAS the other CITY, banks. July .-The State Star's Bank (Kan.) special says: morning reTopeka Briedenthal this the CitExaminer notice of the failures of Kan.; of ceived Bank of Kansas City, of the izens' of Richmond, and of Ossathe Bank and Merchants' Bank a concerns all watamie. The are Farmers' Statements unobtainable. did smal business. Mich., July 8.-Supt. NEGAUNEE, returned from Milwaukee, Schles- where Cole with Ferdinand Mining he conferred president of the Buffalo singer, and head of the Schlessinger money company It is expected that on which the payment of based will be 111 a few days. Other coming uneasiness. and will attachments syndicate. manifest for were all embarrassment claims creditors general forthis no that the from opinion overcome. Dispatches employes of be speedily Mountain say that the Mountain, Iron Chapin mine at Iron will be paid the by the syndicate, which operated S wages by Wednesday. the syndia month favorable indication of storm. is a ability to weather the Citizens' cate's O., July 18 -The Cashier bank ADA, its doors this morning. to his closed P. made an assignment Kenton. O.. Ablefeld N. Amefeld. of bank brother, night. It was a private faciliMonday furnished the only banking of assets and the town. The amount but in could not be and the general ties liabilities impression streets learned, that were it it was in full. The a statewould with pay depositors awaiting of affairs. friled to the condition the $30,000 ment as is a contractor on mill Ablefeld building, runs a planing He has school and a large brick yard. conserv ative plant considered a very wealthy been man. He belongs to a and influential Wash. July its Anacortes failed business ANACORTES, family. to open 18.-The realize Bank of owing to inability to $29,000; doors Liabilities. on Depositors will in full. Kan., July assets, ARMOURDALE, securities. today $28,000. payment 18.-The be paid tobank suspended and liabiliwith assets of $151,500 day, $126,500. State Bank of ties of Breidenthal took creditors sioner Citizens' Among the heavy possession Commiswhich had on the bank. county of Vyandotte, its of the bank is deposit the some $40,000 of

7. July 19, 1893 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, July 19, 1893

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The Bank of Anacortes Fails. ANACORTES, Wash., July 19.-The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.

8. July 20, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 20, 1893

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to the bank in person to draw their money. The excitement and demand upon for money continued unabated almost until banks about 2 o'clock, when it subsided at all Nationol and entirely the State German banks depositors except National, where a line of diminseemed to increase instead of have This bank is understood to Kanish. special train on the way from will a City bearing $490,000, and The sas reach here early tomorrow. received First National a little bank after o'clock $170,000 today, and $250,000 more from at the closing hour. This came PresiYork. It was money due At 3 New Moffat for bullion he sold. hour, there were a dozen people in any o'clock, ly dent half closing above. of D. hard- the H. institutions except the Moffat, president of the First National, stated that deposits at his witdrawals useduring the greatly exceeded bank has always been managed conservatively This day and Moffatt. the was most almost exclussvely owned by The general opinion among bankers is men is that the panic and no more banks will to over although a run in a and close, business mild be obliged or three way continue against two believed banks may for a day or two. It is will refinanciers that today's run confiby the people having more in the strong banks, today will at once dence sult withdrawn in and money be estab- redeposited, and better feeling which lished in financial circles, The suswill make money easier. busipended banks expect to resume The conin a short time. deposine-s on banks by scared is about the 0 by the bankers that no the stated tors stantdrain brought crisis from less It than $8,000,000 had been drawn months. banks during the last three to the Of this $3,000,000 have gone but in regular line of business in the East are $5,000,000 hoarded ful! there Safety deposit vaults are the city. is reason to suppose and of ;workingmen contain hidin which their savings are places homes there secret was If one-fifth of that_amount in den. letinto circulation the stringency Denver would cease. ANOTHER DENVER BANK. Mercantile bank, a private of $100,- institution The with a capital stock The failclosed its doors at noon. of the 000, caused by the failure which it Union ure was National bank through cleared. DRY GOODS COMPANY FAILED. McFamara Dry Goods company of The of the largest institutions failed one the morning. kind in Liabilities, the city $270,000. this not known. The failure served was on brought Assets on by attachment by house at 1 o'clock this morning failed the National bank which for its doors this to open and the Colorado latter $71,780, the Union morning. National the for $20,847.74. The president of bank had a private claim for the $25,000, Denand D. Sheedy, an one officer for $40,000. in The ver National, was not unexpected, but easier it had failure hoped money would be been the firm be able to pull through. and Stringency and in the money market secure to place securities or from the of three savings extension inability closing banks, banks aided Had yes- the by the was the direct cause. been terday banks which closed yesterday which to able to secure cash with the failit over the "hard spots" Nearly carry would not have occurred. ure entire amount falls on the Denver the banks and commercial houses. e THREE MORE FIRMS. & Cohn proprieters of the & Hyman Hive shoe store, McWhirter Bee dealers in mantles and have tiles, Dipps. Engle & Harris, dry goods, available assigned. and No statements but amounts not large. FORT SCOTT BANK FORT SCOTT, Kas., July 18.-The failed National bank of this city First for business this morning, of de to open to steady withdrawal and inability to more than three owing posits Assets are collect lose times assets. noth- liaand depositors will e First National was and in 1871 and was the bilities. lished ing. The Southeastern oldest estabnational bank in S It had a Kansas. run on the Peoples $300,000 largest A capital stock 30 Sav- day of bank was started but the and the ings was taken advantage of swamped. bank law thus saved from being THREE KANSAS BANKS July 18.-State Bank Ex- reTOPEKA. Breidentbal this morning the ceived aminer notice of the failure of Kans., Bank of Kansas City, of the Citizens Bank of Richmond and of Osof Farmers' the and Merch ints' bank did small sawatomie. The concerns all business. Statements unobtainable. 0 BANK OF ANACORTES. ANACORTES. Wash. July 18.-The to of Anacortes failed to open assets day. Bank Liabilities are $29,000, $78,090. Rumor Not Credited. Lula 10 The

9. July 21, 1893 Bismarck Weekly Tribune Bismarck, ND
Article from Bismarck Weekly Tribune, July 21, 1893

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The Bank of Anacortes Fails. ANACORTES, Wash., July 19.-The Bank of Anacortes has suspended owing to inability to realize on securities. Liabilities $29,000; assets $78,000. Depositors will be paid in full.

10. November 7, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 7, 1893

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JOHN M. PLATT DISCHARGED. No Intention on His Part to Defraud the City of Anacortes. ANACORTES, Nov. 6.-(Special.j--The case of the state against ex-City Treasurer Piatt, charged with larceny by embezzlement of funds belonging to the city of Anacortes, came up today in continuation of the examination begun early in September. The evidence showed a shortage of $7,583.29, and defendant's counsel admitted that the ex-treasurer had failed to turn over this amount to his successor, but argued that as the amount was to the credit of the treasurer in the suspended Bank of Anacortes there had been no intent on Platt's part to defraud the city. Justice Beard took this view of the case, and the ex-treasurer was discharged.

11. November 3, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, November 3, 1894

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To Set Aside a Tax Deed. J. T. Hunt yesterday began an action in the superior court to have a tax deed to jo. 6, block 13, Central addition, set aside. The property was sold July 18, 1891, to cover a delinquency of $2.67, H. C. Colver being the purchaser, and November 12 Adolph Krug, then city treasurer, executed a deed. Hunt claims that no notice was ever given him of these proceedings and that the action of the city treasurer was in excess of his authority. Colver claims that all charges and costs up to date do not exceed $23.90, which sum he has repeatedly tendered, but it has been refused. J. E. Boyer, Clarence M. Austin and John Lemar, as receiver of the Bank of Anacortes, are joined as parties defendant.