American Bank (Beatrice, NE)

Episode Information

Episode UID
2526198091123
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
252619809 hash
Start Date
July 1, 1893
Location
Beatrice, Nebraska (40.268, -96.747)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4aa07c7d996bccd3

Response Measures

None

Description

Bank failed to open July 1, 1893 and did not resume; receivership actions followed in subsequent years.

Events (2)
1. July 1, 1893 Suspension
Cause
Macro News
Cause Details
Failed to open July 1, 1893 amid the nationwide money-stringency/panic of 1893 and weak condition of the banks.
Newspaper Excerpt
The Nebraska National Bank and the American Bank failed to open their doors this morning.
Source
newspapers
2. March 12, 1895 Receivership
Newspaper Excerpt
This afternoon the sheriff took charge of the books, papers, notes, etc., belonging to the defunct American bank.
Source
newspapers

Newspaper Articles (14)
1. July 2, 1893 The Times Richmond, VA
Article from The Times, July 2, 1893

Click image to open full size in new tab

Article Text

Several Bank Failures. GEORGETOWN, COL., July 1.-The bank of Clear Creek county made an assignment yesterday. The assets amounted to $397,000; liabilities, $223,000. SALT LAKE, UTAH, July 1.-The First National Bank of Provo closed its doors yesterday. The assets are $115,000; liabilities same. Inability to make collections is the cause of the failure. FORT WORTH, TEX., July 1.-The Exchange Bank at Iowa Park closed its doors yesterday. The liabilities and assets are unknown here, but it is believed that the depositors will be paid in full. A sudden withdrawal of depositors caused the suspension. OMAHA, NEB., July 1.-The Nebraska National Bank of Beatrice, capital stock $100,000, and the American Bank of Beatrice, a small concern, both closed their doors to-day.

2. July 2, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 2, 1893

Click image to open full size in new tab

Article Text

SOME FEW FAILURES. Suspension of Two Small Banks at Beatrice, Nebr. BEATRICE, July 1.-The - Nebraska National Bank and the American Bank failed this morning. Each had a capital of $100,000. The deposits of the American Bank do not exceed $60,000 and the assets are entirely sufficient to pay all demands. The Nebraska National Bank has deposits of over $100,000. but the assets are in good shape. No run was made on the other banks. ST. LOUIS, July .-The Madison Car Company, which was concerned in protesting a note handled by Post, Martin & Co., a few days ago. assigned at Edwardsville, Ill., to-day : liabilities $918,000, assets $122,000. The works of the company are located at Madison, 111. The company has given employment to 2000 men. It

3. July 2, 1893 The Herald Los Angeles, CA
Article from The Herald, July 2, 1893

Click image to open full size in new tab

Article Text

WESTERN BANK FAILURES. Nebraska, Colorado and Other States Farnish Their Quota. BEATRICE, Neb., July .-The Nebraska National bank and the American bank failed this morning. Each had a capital of $100,000. The American bank's deposits will not exceed $60,000, and the assets are entirely sufficient to pay all demands. The Nebraska National bank has deposits of over $100,000, but the assets are in good ehape if no run is made on the other banks. SALIDA, Colo., July 1.-The Chaffe County bank made an assignment this morning with liabilities between $80,000 and $90,000, while the assets are not yet known. Slow collections is given as the cause of the failure. A run was averted on the First National bank, which closed at 11:30 until Monday. The directors say the depositors will be paid in full. OURAY, Colo., July 1.-The First National bank closed this morning, owing to the want of currency. Assets $110,000 and liabilities $42,000. It will prob ably resume in a few days. A run was inaugurated on Thatcher Brothers' Merchants' and Miners' bank, but it was only a slight flurry. WEBB CITY, Mo., Julr 1.-The Exchange bank of this city assigned today. Deposits, $60,000; liabilities not yet known. The stringency in the money market and withdrawal of deposits are assigned as the cause of the failure. WASHINGTON, July 1. - Comptroller Eckels was informed this afternoon of the failure of the First National bank of Phillipeburg, Mont. Comptroller Eckels has appointed J. H. Adams receiver of the failed Citizen's National bank of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the First National bank of Provo, Utah.

4. July 2, 1893 The Sun New York, NY
Article from The Sun, July 2, 1893

Click image to open full size in new tab

Article Text

Minor Business Troubles. GEORGETOWN. Col., July -The bank of Clear Creek county made an assignment yesterday to Lafayette Hanchett. A placard was hung un on the window of the bank announcing as follows: "If conditions change so that we can obtain money on our securities we shall resume at once. The assets are $397.900. liabilities $233,000. GLOUCESTER Mass.. July 1. - A voluntary petition in insolvency has been filed by G. Hodgkinson & Co., rish merchants. They owe $42.607. and have assets of about $13,000. CHATTANOOGA. July 1.-The Bloch Drug Company made a general assignment yesterday. No preference. The assignment is made to protect the business for liquidation. as it has been the intention for some time to wind the business up. The liabilities are about $50,000 and the assets are said to be ample to pay all creditors. Prosper Lazard was named as trustee. PITTSBURGH, July 1. - The Speer White Sand Company of 91 Fifth avenue. made an assignment this afternoon to J. H. Speer city, one of the company's officials. Mr. Speer said that its liabilities are $60,000. and its assets $250,000. According to Mr. Speer the stringency of the money market. unfortunate investments in sand lands and works at Dawson. Pr.. and the unusual shut down of the plate glass mills caused the difficulty. SALT LAKE. Utah. July The First National Bank of Provo closed its doors yesterday morning. The assets and liabilities are each $115,000. Officials expect the bank will soon resume business MUSKEGON. Mich., July 1.-The Muskegon Iron and Steel Company went in n receiver's hands yesterday. Assets and liabilities are not obtainable, the receiver being at work on the list. The company has a paid up capital of $200,000, and last January reported debts of $160,000; credits. $20,000: real and personal property. $316,000. BEATRICE. Neb.. July ..-The Nebraska National Bank and American Bank failed to open their doors this morning. Each bank had a capital of $100,000. RED CLOUD. Neb., July -The Farmers' and Merchants' Bank of this place closed yesterday. No statement has been made.

5. July 2, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 2, 1893

Click image to open full size in new tab

Article Text

Two Nebraska Banks Fail. BEATRICE, Neb., July 1.-The Nebraska National bank and the American bank failed this morning. Each had a a capital of $100,000. No other particulars. The American bank deposits will not exceed $60,000, and the assets are entirely sufficient to pay all demands. The Nebraska National bank has deposits over $100,000, but the assets are in good shape. No run was made on the other banks.

6. July 2, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 2, 1893

Click image to open full size in new tab

Article Text

An Immense St. Louis Concern in a Receiver's Hands, ST. LOUIS, July 1.-The Madison Car company filed articles of assignment in the recorder's court at Edwardsville, Ill., today. The assets are given at $918,000 and liabilities at $1,122,000, Paul A. Fusz is named as assignee. The company recently erected a large plant for the manufacture of railway cars at Madison, III., opposite this city, and has endeavored to build up a city similar to Pullman, III. The company has been in straitened circumstances for some time, and the stringency of the money market has precipitated the failure. About 690 were employed at the works. The announcement of the failure created surprise in mercautile circles in this city, owing to the fact that the stockholders of the company are all St. Louis people. Many of the stockholders are also heavily interested in the Merchants' Bridge, the Security Building and other large enterprises. The company is capitalized at $500,000,and about six months ago floated an additional bonded indebtedness of $500,000. This was used in p ying off pressing obligations. The company has done a heavy business in manufacturing railway cars and material, and it is said had some difficulty in securing payment for material and rolling stock furnished to different railroads. OSALT LAKE, Utah, July 1. - The National Bank of Commerce at Provo closed its doors this morning owing to a run caused by the failure of the First National bank yesterday. Assets, $80,000; capital. $50,000; other liabilities, $25,000. FORT WORTH, Tex., July 1.-The Exchange bank at Iowa Park closed its doors yesterday. The liabilities and assets are unknown here, but it is believed that the depositors will be paid in full. A sudden withdrawal of deposits coused the suspension. PHILADELPHIA, July 1.-Executions have been issued from common pleas court on five judgments entered on judgment notes aggregating $44,842.40, against Charies Illingsworth, dealer in morocco. OMAHA, Neb., July 1.-The Nebraska National Bank of Beatrice, capital: $100,000, and the American Bank of Beatrice, a small concern, both closed their doors today. They have been in a weak condition for some time. DENVER, Col., July 1.-The First National Bank of Rico closed its doors yesterday because of a run. Matters are decidedly critical, for the miners are excited and talk wildly of bloodshed. Those dis missed from work were paid with checks on the bank. and they are clamoring for coin. All business firms have shut down on crodit. WASHINGTON, July 1.-Comptroller Eckels today appointed J. R. . Adams receiver for the failed Citizens' National Bank of Spokane. He also directed Bank Examiner Swan to take charge of the failed First National Bank of Provo, Utah, and Bank Examiner Latmer to take charge of the failed Nebraska National Bank, of Beatrice, Neb. Comptroller Eckels was informed this afternoon of the failure of the First National bank of Phillipsburg, Mont. He has directed Bank Examiner Aubry to take charge of the failed National Bank at Ricu, Col.

7. July 2, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 2, 1893

Click image to open full size in new tab

Article Text

MORE WESTERN BANKS CLOSE THEIR DOORS. Denver, July -The First National Bank at Rico closed Its doors yesterday, because of a run. Matters are decidedly critical, for the miners are excited and talk wildly of bloodshed. Those dismissed from work were paid with checks on the bank, and they are clamoring for coin. All business firms have shut down on credit. GeorgeTown, Col., July 1.--Owing to the unexpected demands made during the last few days, the Bank of Clear Creek County made an assignment yesterday morning to Lafayette Hanchett. A placard was hung upon the window of the bank announcing as follows: s If conditions change so that we can obtain money on our securities, we shall resume at once." The assets of the institution are more than ample to meet very obligation. They amount to $397,000, while the liabilities are only $233,000. Salt Lake City, Utah, July 1.-The First National Bank of Provo closed its doors yesterday morning. A. O. Senoat is president, and W. H. Dusenberry cashier. The assets are $115,000, and the liabilities are the same. Inability to make collections or rediscounts is the cause of the failure. Officials expect the bank will soon resume business. Beatrice, Neb., July 1.-The Nebraska National Bank and American Bank failed to open their doors this morning. Each bank had a capital of $100,000. Washington, July 1.-Controller Eckels to-day appointed J. H. Adams receiver of the failed Citizens' National Bank of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the failed First National Bank of Provo, Utah, Bank Examiner Latimer to take charge of the failed Nebraska National Bank of Beatrice, and Bank Examiner Aubry, to take charge of the First National Bank of Rico, Col. All the banks are small institutions.

8. July 3, 1893 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, July 3, 1893

Click image to open full size in new tab

Article Text

Failures. BEATBICE, Neb. 3.-The Nebraska National bank and American bank have failed. Each bank had a capital of $100,000. Washington.-Comptroller Eokles appointed J. H. Adams receiver of the failed Citizens' National bank, of Spokane, Wash. He also directed Bank Examiner Swan to take charge of the failed First National bank of Provo, Utah, and Bank Examiner Latimer to take charge of the failed Nebraska National bank of Beatrice. The First National bank of Rico, Colo., which has also failed, will be placed in the hands of a bank examiner.

9. July 6, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, July 6, 1893

Click image to open full size in new tab

Article Text

BANKS FAIL. Several Financial Institutions in Various Places Forced to Suspend. GEORGETOWN, Col., July 1.-The Bank of Clear Creek county at this place made an assignment yesterday with liabilities of $233,000 and assets of $397,000. Provo, U. T., July 1.-The First national bank of this place closed its doors yesterday, with liabilities of $60,000. SALIDA, Col., July 3.-The Chaffee county bank, of which William E. Robertson is cashier, has made an assignment to S. J. Foster, of this city. Mr. Foster says that the liabilities are between $80,000 and $90,000. The deposits are $73,000, including $21,000 in certificates of deposit. He is unable to give the assets. OURAY, Col., July 3.-The First national bank of this place closed its doors Saturday. Deposits amount to about $50,000 and notes and discounts to about $120,000. No definite statement has been made. BEATRICE, Neb., July 3.- - The Nebraska national bank and the American bank failed to open their doors here. Each bank had a capital of $100,000.

10. July 8, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, July 8, 1893

Click image to open full size in new tab

Article Text

BANKS FAIL. Sevenal Financial Institutions in Various Places Forced to Suspend. SALIDA, Col, July 3.-The Chaffee county bank, of which William E. Robertson is cashier, has made an assignment to S. J. Foster, of this city. Mr. Foster says that the liabilities are between $80,000 and $90,000. The deposits are $73,000, including $21,000 in certificates of deposit. He is unable to give the assets. OURAY, Col., July 3.-The First national bank of this place closed its doors Saturday. Deposits amount to about $50,000 and notes and discounts to about $120,000. No definite statement has been made. BEATRICE, Neb.. July 3.-The Nebraska national bank and the American bank failed to open their doors here. Each bank had a capital of $100,000. LEADVILLE, Col., July 5.-The American national bank, of Leadville, closed its doors, with liabilities of $342,000. GOLDEN, Col., July 5.-The Jefferson county bank closed its doors, with liabilities of $76,000.

11. March 13, 1895 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 13, 1895

Click image to open full size in new tab

Article Text

SHERIFF IN CHARGE OF A BANK. Defunet American Institution of Beatrice the Cause of Much Trouble. BEATRICE, Neb., March 12.-(Special Telegram.)-This afternoon the sheriff took charge of the books, papers, notes, etc., belonging to the defunct American bank. This was done in accordance with an order of the district court, made on account of certain stockholders in the concern asking for the appointment of a receiver. When the bank closed its doors in July, 1893, the officers went to the supreme court and secured permission to close up the bank's affairs without their being placed in the hands of a receiver, giving bond for the payment of 100 cents on the dollar of the establishment's indebtedness. The time specified for closing up the business expired and an extension was asked and granted, and now that the time has again expired and the creditors are still unpaid suits are being commenced against the bondsmen and certain stockholders begin to fear they will be held personally for the indebtedness, hence the request for a receiver.

12. July 15, 1904 The Providence News Providence, RI
Article from The Providence News, July 15, 1904

Click image to open full size in new tab

Article Text

STOCKHOLDERS IN WESTERN BANK SUED BY RECEIVER. Alfred Hazlett, receiver of the American Bank, of Beatrice, Neb., has brought three suits against local parties to recover money to help pay the obligations of the involvent bank. There is owing by this bank some $42,000. Littlefield & Barrows are the local attorneys for the receiver. Damages in the suits filed today aggregate $16,500. It is declared that the bank went into the hands of a receiver in 1895 and that the condition of the bank and the amount of its liabilities were determined on March 27, 1902. Stockholders under the laws of Nebraska are responsible for the amount of the par value of their capi. tal stock, the declaration recites, and seven per cent interest since March 27, 1902. The Providence Mutual Investment company holds 50 shares of the capital stock and is sued for $7000. Thomas A. Woodhead, it is declared, holds 20 shares and is sued for $5000. Mary E. Woodhead, it is claimed, holds ten shares of the capital stock and she is sued for $1500. The Mercantile Trust company is defendant in a suit to recover $3000, as it is alleged the company owns 20 shares. The capital stock was worth $100 par. It is asserted that the insolvent bank has now no assets.

13. May 11, 1906 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, May 11, 1906

Click image to open full size in new tab

Article Text

The American bank of Beatrice went to the wall during the panic of 1893. It was then officered by Nathan Blakely, president; Charles E. White, vice president; John Henderson, cashier, and Charles Blakely, assistant cashier. Among the board of directors were C. L. Schell, C. J. Jackson and other well-to-do men of Beatrice. An application was made to the State Banking Board at the time to defer throwing the bank into the hands of a receiver on condition that the directors and stockholders would put up a bond of $100,000 to secure the depositors and permit the old directorate to close up the affairs of the bank. The proposition was agreed to, but after a year or more the bank failed to make good, though going out of business, and upon the application of creditors of the bank Alfred Hazlett, a prominent lawyer of Beatrice, was made receiver of the bank. Receiver Hazlett at once went to work to gather something from the wreckage and did succeed in paying out a small percent of the deposits. But the affairs of the bank were in such a hopeless tangle that very little was realized and then Hazlett went after the eastern stockholders of the concern. A considerable number of stockholders lived in Rhode Island and he brought suit in the courts of that state to recover. A decision was handed down in the Rhode Island supreme court Thursday against Receiver Hazlett and for the Rhode Island stockholders.

14. May 31, 1907 The News-Democrat Providence, RI
Article from The News-Democrat, May 31, 1907

Click image to open full size in new tab

Article Text

PHONE REPORTS ARE NOW F READY NEBRASKA BANK Majority of Committee Tells STOCKHOLDERS CASE BEFORE THE Why Its Proposed Agree ment With the Providence SUPREME COURT VOTE FOR MERGER Telephone Co. on a Six Chief Justice Douglas and Justices Dubois, Blodgett, Johnson and Parkhurst toOn motion of Judge Robertson, the A special meeting of the stockholders meeting was then adjourned until afterday heard the cases of Alfred Hazlett, of the New York, New Haven and Hartnoon in order to allow of tht filing of the Year Exclusive Franchis receiver of the American bank of Beaford Railroad company was held at the amendment at the secretary of state's oftrice, Neb., against Thomas A. Woodrailroad offices in New Haven today to fice, after which the merger can be legally carried through. head and May E. Woodhead of Central accept the amendment to the charter of It was ascertained in official quarters Falls. Mercantile Trust company and the corporation contained in a resolution of the New York. New Haven and HartProvidence Mutual Investment company Basis Should Be Adopted recently passed by the Connecticut legisford Railroad company that the fiew on plaintiff's exceptions to the decision of lature permitting the merger of the cor$30,000,000 of stock for which application the superior court sustaining tht defendhas been made for listing at the New ants' demurrers to the plaintiff's amendporation with and in the Consolidated ed declarations. York stock exchange is immediately conRailway company, a majority of whose Vigorous Dissent by Mi It is provided in the constitution of stock is held by the New Haven comnected with the merger of that corporaNebraska as follows: "Every stockholdpany. tion with the Consolidated Railway corner in a banking corporation or institution The object of the merger is to consollpany today. shall be individually responsible and liadate and make common stock of both The latter company recently took over nority-CityCounciltoGe ble to its creditors over and above the corporations under the title of the New the New England Navigation company at amount of stock by him held to an York, New Haven and Hartford coma valuation of $20,000,000 or exactly the amount equal to his respective stock or pany, said company to have as by-laws price which C. W. Morse some time ago shares so held for all its liabilities accruthe by-laws of the Consolidated Railway Voluminous Statements. offered for the property. Against this ing while he remains such stockholder. company and to have as its directors unThe American bank of Beatrice was ad$20,000,000 of Consolidated Railway comtil the next annual meeting the same persons as are directors of the Consolidated judged insolvent on March 20. 1895, and pany's stocmk was oreated which added Mr. Hazlett qualified as receiver on Railway company. to the previous outstanding $10,000,000 March 23. 1895. Thomas A. Woodhead held At the meeting about 30 stockholders makes $30,000,000 of stock which in the $2000 worth of stock in this bank. Mary were present. including a number of the merger now is represented by the $30.The city council committee which has the seven members of the committee, a E. Woodhead held $1000 worth of stock. directors. After the call was read. Judge 000.000 of stock share for share of the is a voluminous document. Both report Defendants say the Nebraska constituA. H. Robertson of New Haven offered a been probing the subject of granting to steam corporation. if bound, would make a volume of mo tion does not give the receiver the right resolution that the charter amendment be the Home Telephone company a franchise This $80,000,000 of stock while legally outto sue stockholders; that a receiver apthan 100 pages, to say nothing of the a accepted and notice filed with the secrestanding is held in the New York, New to compete with the Providence Telepointed under proceedings in Nebraska tary of state. This required a stock vote denda and appendices which are as 10 has no right to sue in any court of the Haven and Hartford Railroad company's which resulted in 508,969 votes in favor again as either of the two reports. phone company for the business of Provistate of Rhode Island, and many other treasury for any legal use whatsoever. and none opposed. The agreement contained in the majo dence will make its report to the common things against the maintaining of these 1ty report follows: suits. council next Monday evening. "Unlimited business 'phone (one part Complainant claims that the provision of the Nebraska constitution is self-exe$80. This report by a vote of six to one, cuting. and does not require supplement"Unlimited business phone (two part as has been exclusively stated in the ary statutes. $60. News-Democrat, will favor an exclusive DOG THAT BIT LAMOUREUX CASE The bank deficit according to declara"Limited business 'phone (one party franchise for the Providence company tions is about $42,000. N. W. Littlefield is 600 calls, $40. for a term of six years and contains the attorney for the receiver, and William J. "Limited business 'phone (two part: Brown and John N. Butman represent terms of an agreement the majority of 600 calls, $83. the defendants. the committee has decided to recommend THE CONNOR BOY MAY BE SENT TO "Unlimited residence, (one party) $48 to the These