First National Bank (Hammond, IN)

View Charter #3478 on SPMC View balance sheet

Episode Information

Episode UID
347801124
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
34780 national
Charter Number
3478
Start Date
August 4, 1893
Location
Hammond, Indiana (41.583, -87.500)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2edb1391260ffcd1

Response Measures

None

Events (4)
1. March 31, 1886 Chartered
Source
historical_nic
2. August 4, 1893 Suspension
Cause
Local Banks
Cause Details
Closures and failures of other banks (St. Paul, Muncie, etc.) prompted withdrawals and precautionary suspension
Newspaper Excerpt
To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank...in doing this act at this time it is with a desire to prevent the excitement of a run
Source
newspapers
3. September 24, 1893 Reopening
Newspaper Excerpt
The First National Bank, of Hammond, which suspended some weeks ago, has been authorized to resume business on next Monday.
Source
newspapers
4. February 3, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)
1. August 4, 1893 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, August 4, 1893

Click image to open full size in new tab

Article Text

BANK KEEMBARRASSMENTS. Several of Them Close Their Dvors-One Resumes. WASHINGTON, Aug. 4.-Treasury officials are advised that the National German American bank of St. Paul, capital $2,000,000; the First National bank of Harmond, Ind., capital $50,000, and the Citizens' National bank of Muncie, Ind., capital $200,000. closed their doors to business this morning. Bank Examiner Gannon, on orders from Washington, closed Texas National bank of San Antonio, Tex., today. Comptroller Eckels has authorized the Farmer's National bank of Henrietta, Tex., to resume business. MUNCIE, Ind., Aug. 4.-The Citizens' National bank, one of the oldest and soundest banks in the city, suspended business this morning. Withdrawal of deposits and inability to realize on paper were the causes. President Kerwood claims assets as two to one. Three other banks in the city preparing for the worst, as the people are greatly excited over the failure. LEBANON, Aug. 4.-The Lebanon Trust and Safe deposit bank failed to open its doors this morning. The bank is a State institution with a capital of $50,000. ST. PAUL,Minn., Aug. 4.-The Peoples' Saving bank, one of the small concern, of the city, closed its doors at noon today.

2. August 5, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 5, 1893

Click image to open full size in new tab

Article Text

SUSPENSION AT HAMMOND, The First National Closes Its Doors to Prevent the Excitement of n Run. Special to the Indianapolis Journal HAMMOND, Ind., Aug. 4.-The First Na. tional Bank of this city failed this morning. At 9:30 o'clock the following notice was given to the public: To the Depositors of the First National Bank: Circumstances beyond the control of the board of directors compel them to close this bank. In doing this act at this time it is with a desire to prevent the excitement of a run and to treat all fairly, and I wish to assure every one that while they will have to wait a little for their money. every dollar will be paid in full just as soon as M. M. TOWLER. money can be collected. No excitement was caused by the failure, as most of the directors are wealthy and is is believed they will see that the bank pays

3. August 5, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, August 5, 1893

Click image to open full size in new tab

Article Text

BANKRUPT BREVITIES. The People's Savings Bank of St. Paul closed its doors yesterday morning. A receiver has been appointed for the Denver Equitable Accident Insurance Company; its outstanding risks of $6,000,000 have been reinsured with the Union Casualty Company. Trouble among the stockholders caused the failure. The closing of the doors of the St. Paul German National Bank yesterday caused some withdrawal of funds from other banks, but no particular excitement or runs. James H. Walker & Co., dry goods, one of the largest firms in Chicago, confessed judgment yesterday on a note for $5,495. A receiver has been asked for. The amount involved is $2,000,000. The First National Bank of Hammond, Ind., capital $50,000, and the Citizens' National Bank, of Muncle, Ind., capital, $200,000, closed their doors yesterday morning. S. Jacoby & Company, cigar manufacturers of New York, have confessed judgments aggregating $30,000. Liabilities, $150,000. The West Side Bank of St. Paul, capital, $100,000, closed yesterday. No statement has been made.

4. August 5, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 5, 1893

Click image to open full size in new tab

Article Text

BANK EXAMINER APPOINTED. Washington, Aug. 4.-Treasury officials are arvised that the National German American Bank of St. Paul, Minn., capital, $2,000,000; the First National Bank of Hammond, Ind., capital, $50,000, and the Citizens' National Bank of Muncie, Ind., capital, $200,000, closed their doors to business this morning. Bank Examiner Gannon, on orders from Washington, closed the Texas National Bank, of San /Antonio, to-day. Controller Eckels has authorized the Farmers' National Bank, of Henrietta, Texas, to resume business. The Controller appointed D. W. Lawler, a bank examiner, and directed him to take charge of the German American, at St. Paul. Examiner Ford is assigned to the charge of the Citizens', of Muncie, Ind., and Examiner Packard, of the First National, of Hammond, Ind. The German-American, of St. Paul, usually carried a line of individual deposits of more than $3,000,000,but this was reduced at the date of its last report to less than $2,000,000. Its surplus fund and undivided profits were noted at $261,000.

5. August 5, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 5, 1893

Click image to open full size in new tab

Article Text

CONDENSED DISPATCHES. The Lebanon Trust and Safe Deposit bank, at Lebanon, Pa., has suspended temporarily. The Osage Indians have refused to sell their reservation in Oklahoma territory to the government An unsuccessful attempt to wreck and rob a Wabash train was made on Thursday near Atlanta, Mo. Fire at Sangor, Cal, destroyed a livery stable and cremated eighteen horses Friday morning. Loss, $2,500. Fire at Princeton, Minn., early Friday morning destroyed the First National bank and seven other buildings. Loss, $50,000; insurance partial. The Karmis. which arrived in New York on Thursday from Naples, was held at quarantine to be disinfected. There were no cholera cases on board. The First National bank of Platteville, Wia, the First National bank, of Hammond, Ind., and the Citizens' National bank, of Muncie, Ind. have suspended. Dr. Isano Crook, late of the University of the Pacific, California, has been elected chancellor of Wesleyan university, at Lincoln, Neb., to sueceed Rev. C.F. Creighton, resigned. Filty officers and men attached to the department of Colorado, United States army. have arrived in Los Angeles from Santa Fe. This is in accordance with the recent order changing department headquarters Suit has been commenced against John L Mitchell, David Ferguson and John Johnson by Receiver Recker. of the Wisconsin Fire and Marine Insurance Company bank, to secure judgment on promissory notes aggregating $600,000

6. August 5, 1893 The Herald Los Angeles, CA
Article from The Herald, August 5, 1893

Click image to open full size in new tab

Article Text

BANIK FAILURES, Muncie, Ind., St. Paul, Minn., and Other Panic-Stricken Cities. MUNCIE, Ind., Aug. 4.-This morning the Citizens' National bank of this city failed to open its doors. A notice on the door said the assets were ample to pay all depositors. Hundreds of depositors congregated. The depositors of the Delaware National, Farmere' National and Merchants' National banks then commenced to draw out their money. The run continued until 4 o'clock this evening. Heavy deposits are being made by wealthy citizens to save the remaining three. WASHINGTON, Aug. 4. -The - treasury officials are advised that the First National, bank of Hammond, capital $50,000, and the Citizens' National bank of Muncie, Ind., $200,000,closed doors this morning. PLATTEVILLE, Wis., Aug. 4.-The First National bank closed its doors this morning owing to a heavy run. Assets $50,000 in excess of the amounts due depositors. ST. PAUL, Aug. 4.-The closing of the doors of the German American National bank this morning, as arranged for last night, caused some withdrawal of funds from other banks, but no particular excitement or runs. This morning the People's bank, with a capital of $200,000, suspended. No statement. The failure is not considered important. The West Side bank, capital $100,000, closed its doors at 1 o'clock. No statement has been made. The bank officials say they expect to resume in a few days. The comptroller of the currency has appointed Daniel W. Lawler of this city to take charge of the German American bank. LEBANON, Pa., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed this morning. It is a state institution, and has a capital of $50,000. It is believed the suspension is only temporary.

7. August 10, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, August 10, 1893

Click image to open full size in new tab

Article Text

YESTERDAY'S FAILURES. Muncie, Ind., Aug. 4.-The Citizens' National bank, one of the oldest and soundest in this city, suspended this morning. President Korwood claims that the assets are as two to one to liabilities. Three other banks in this city are preparing for the worst, as the people are greatly excited over the failure. Hammond, Ind., Aug. 4.-The First National bank of this city closed its doors today. It was established in 1886 with a capital stock of $50,000. It is the impression that the depositors will be paid in full. Lebanon, ra., Aug. 4.-The Lebanon Trust and Safe Deposit bank failed today. It is a state institution with $50,000 capital. Denver, Aug. 4.-The Equitable Accident Insurance company has been placed in the hands of Charles B. Mason, a receiver. Its capital is $250,000, with a surplus on hand of $100,000. The concern is considered responsible and it is believed that there will be no losses to any of its patrons. Pittsburg, Aug. 4.-William Semple, Jr., president of the Pittsburg and Akron railroad, which is in a receiver's hands, today confessed judgment for $208,000 in consequence of the trouble involving the road. Ligonier, Ind., Aug. 4.-Yaeger Bros., controlling large lumber and saw mills at Walcottville and Cromwell, have failed. Their money is tied up in lum ber. New Orelans, Aug. 4.-The Texas National bank of San Antonio, failed to open its doors this morning and is now in the hands of the bank examiner. The capital stock is $100,000.

8. August 12, 1893 The L'anse Sentinel L'anse, MI
Article from The L'anse Sentinel, August 12, 1893

Click image to open full size in new tab

Article Text

MUNCIE BANK FAILS. Suspension of the Citizens' NationalClaims Large Assets. MUNCIE, Ind., Aug. 5.-The Citizens' national bank, one of the oldest and soundest in this city, suspended this morning. President Korwood claims that the assets are as two to one to liabilities. Three other banks in this city are preparing for the worst, as the people are greatly excited over the failure. COLBY, Wis., Aug. .-The Exchange bank of Colby clo-ed its doors this morning. The bank had a capital of $5 000 and owes depositors about $30,000. ST. PAUL, Minn., Aug. .-In accordance with the decision of the directors last night the doors of the National German-American bank were not opened to-day. The bank officials announce that every liability will be made good, but they require time to realize on securities. State, county and city funds are cured by bonds given by various wealthy business men outside the ba ik. The People's Savings bank, one of the small concerns of the city, closed its doors at noon to-day. HAMMOND, Ind., Aug. .-The First National bank of this city closed its doors to-day. It was establis ed in 1886, with a capital stock of $50,000 It is the impression that the depos itors will be paid in full.

9. August 17, 1893 Union County Courier Elk Point, SD
Article from Union County Courier, August 17, 1893

Click image to open full size in new tab

Article Text

Telegraphic Clicks. THE First National Bank of Hammond, Ind., has suspended. JUAN BURGER, 13 years old, died at Kokomo, Ind., from cigarette smoking. THE W. H. Livingston Company, of Sioux City, dry goods, has assigned. Debts, $45,000. SHARPTOWN, Ind., was visited by a cloudburst which destroyed crops and drowned herds of live stock. SARAH T. BOLTON, who wrote "The Union Forever" and "Paddle Your Own Canoe," died in Indianapolis. DENVER'S City Council has appropriated $15,000 for the purpose of employing idle men at work on the streets. Gov. RENFROW, of Oklahoma, has ousted the regents of the Agricultural

10. September 24, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 24, 1893

Click image to open full size in new tab

Article Text

General Notes. Special to the Indianapolis Journal WASHINGTON, Sept. 23.-The First National Bank, of Hammond, which suspended some weeks age. has been authorized to resume business on next Monday. Charles Waltz was to-day appointed postmaster at Chambersburg. Orange county, vice J. M. Boyd. removed, and James Webster at Mountain Spring. Martin county. vice G. N. Baker. removed. D. H. Fenton, of Hammond, filed his ap. plication at the Treasury Department for the position of chief of a division in the treasury. Mr. Parker and Mr. Austin, of South Bend, have applied for the position of superintendent of the federal building at that city. President Cleveland spent the day At his suburban home, "Woodley," in order to avoid the constant interruptiona he is subjected to at the White House. The House committee on merchant marine and fisheries held a meeting this morning and decided to allow public hearings on Oct. 3 on Representative Fithian's bill providing for free American registers to foreign-built ships. Assistant Secretary Curtis has informed the collector of customs in Chicago that his action regarding the controversy between himeelf and the imperial commiss:onergeneral of Russia was warranted by the facts and law in the case. The committee authorized to select the model for a statute to Gen. John A. Logan has decided to accept that designed by Franklin Simmons. The monument 18 to be made of bronze, with the pedestal richly ornamented. It is to be placed ID the Iowa Circle, this city. An official statement prepared at the Pension Bureau shows that the total number of claims for pensions. now awaiting action at the bureau, is 700,279.

11. September 26, 1893 Evening Star Washington, DC
Article from Evening Star, September 26, 1893

Click image to open full size in new tab

Article Text

Banks Resuming. The following national banks, which recently suspended payment, having fully complied with the conditions imposed by the controller of the currency, and their capital stock being unimpaired, have been permitted to reopen their doors for business: The First National Bank of Hammond, Indiana: the Milwaukee National Bank of Wisconsin, Milwaukee, Wis.