Article Text
Run on a Wisconsin Bank. ASHLAND, Wis., July 31.-The First National Bank of Ashland failed to day. A steady run for a month caused the failure. The assets on July 15 were a trifle less than $400,000. Runs have begun on the other banks.
First National Bank (Ashland, WI)
Episode Information
- Episode UID
359001123- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
-
35900national - Charter Number
- 3590
- Start Date
- July 31, 1893
- Location
- Ashland, Wisconsin (46.592, -90.884)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
217ef59e98ebd473
Response Measures
Capital injected, Partial suspension, Full suspension, Books examined
Events (5)
1.
November 15, 1886
Chartered
- Source
- historical_nic
2.
July 31, 1893
Run
- Cause Details
- Steady, persistent heavy withdrawals (a month-long drain) leading to loss of liquidity.
- Newspaper Excerpt
- The First National bank failed this morning owing to the steady drain on the deposits.
- Source
- newspapers
3.
July 31, 1893
Suspension
- Cause Details
- Bank suspended payments after being unable to meet heavy withdrawals and closed doors July 31.
- Newspaper Excerpt
- Owing to heavy withdrawals by depositors during the past week this bank has suspended.
- Source
- newspapers
4.
September 23, 1893
Reopening
- Newspaper Excerpt
- The First National Bank of Ashland, which suspended July 31, will open its doors and resume business on schedule time on Monday morning.
- Source
- newspapers
5.
June 8, 1898
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (21)
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Article Text
Run on Ashland Banks. ASHLAND, Wis., July 31.-The First National bank failed this morning owing to the steady drain on deposits. The resources on July 15th were $396,489. There is a run on the other banks in consequence.
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Closed by a Drain. Milwaukee, Wis., July 31. -A special to the Wisconsin from Ashland, Wis., says: "The First National Bank of Ashland failed to open its doors this morning. There has been a steady drain on the bank for a month past. Other banks are experiencing runs in consequence of the First National's failure."
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EASTERN BANK TROUBLES. Runs on Financial Institutions-Several Suspensions, NEWARK, N. J., July 31.-The run on the Howard Savings Institution continued today. The crowd in front of the building was so large that the aid of the police was necessary to keep the anxious people in order. HORNELLSVILLE, N. Y,, July 31.-N. M. Craveland, a private banker, failed this morning. The assets are said to exceed the liabilities. AKRON, O., July 31.-The Akron Savings bank went into the hands of a receiver this morning. Capital, $200,000; reserve, $50,000; surplus, $18,000. It will pay in full. ASHLAND, Wis., July 31.-The First National bank failed this morning, owing to a steady drain on the deposits. The resources July 15th were $396,489. Heavy runs on other banks resulted. CEDAR RAPIDS, Ia., July 31.-A. Daniels & Co., private bankers at Marion, made an assignment of property valued $200,000. It is believed all will be paid in full, and that the bank will be open in a few days. No statement of assets and liabilities. SPRINGFIELD, Mo., July 31.-The Springfield Savings bank failed this morning. Deposits, $100,000; capital, $25,000. It will pay in full. Other banks are not affected. No further trouble is expected.
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TELEGRAPHIC BREVITIES. The Pendleton, Or., savings bank has temporarily suspended. Assets $250,000; liabilities $135,000. N. M. Craneland, a private banker of Hornellsville, N. Y., has failed. Assets said to exceed liabilities. At Dallas, Or., the First National bank has failed, due to the closing of the Commercial National bank of Portland. At San Francisco last night the build ing and stock of Reich & Co., wholesale Lancy goods, was damaged $100,000 by fire. W.A. Lynch has been appointed rereceiver of the Pittsburg, Akron & Western railroad. The road has a capital stock of $3,600,000. The First National bank of East Portland has failed. Officers say the suspension is temporary. Resources July 12, $325,000; deposits $160,000. At Swansea, S. C., Handy, the third negro engaged in the outrage on Mrs. Sighters, was hanged on the same tree as the other two yesterday. Chapman Bros., publishers. and managers of two World's fair hotels in Chicago, confessed judgment of $25,000. Assets at $600,000; liabilities $257,000. Advices from Chicago say that the First National bank in that city has ordered a half million in gold in London, and two other banks smaller amounts. The Commercial bank of College Grove, Or., has decided to go into liquidation. All depositors will be paid in a few days and the bank go out of business. biz The Akron, Ohio, Savings bank went into the hands of a receiver yesterday morning. Capital, $200,000; reserve, $50,000; surplus, $18,000. It will pay in full. At Ashland, Wis., the First National bank failed owing to a steady drain on deposits. Resources on July 15 were $396,489. There was a run on other banks in consequence. The Springfield, Mo., Savings bank has failed. Deposits are $100,000; capital, $25,000. It is said they will pay in full. Other banks are not affected and no further trouble is expected.
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TELEGRAPHIC BY ASSOCIATED PRESS TO JOURNAL-MINER. The Daily List of Bank Failures. Akbon, O., August L-The Akron Savings bank has failed. PORTLAND, August 1.-The First National Bank in East Portland and the First National Bank at the Dalles have failed. ASHLAND, WIS., August 1.-The First National Bank here has failed. Runs are being made on other banks but it is thought they can stand the pressure. SPRINGFIELD, Mo.August 1-The Springfield Savings bank has failed. Judge Ross Hits the Geary Act. Los ANGELES, August 1.-United States Judge Ross has decided that the part of the Geary Act prescribing punishment for Chinese illegally in the United States, is contrary to the constitution and void. He decided that the deportation clause is legal. A Big Fire in Frisco. SAN FRANCISCO, Aug. 1.-A fire last night destroyed Buyer & Reich's dry goods store. The loss is estimated at $100,000. The Silver Convention in Session. Chicago, Aug. 2-The National Convention of bi-metalic leagues began here this morning. Prominent silver men from all parts of the continent are in attendance. Burned Out the Chinamen. DENVER, Aug. 2.-The white miners at Como burned the headquarters of the Chinese miners. Eight Chinese miners are supposed to have burned to death. It Will Make Good Pork. TOSTORIA, OHIO, Aug. 2.-On account of the low price of wheat, farmers here are feeding wheat to hogs. Another Failure. Philadelphia, Pa., Aug. 2-The Philadelphia Packing Company has failed for a large amount.
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ADDITIONAL DISPATCHES. THERE was a run on the banks at Ashland, Wis., caused by the failure of the First national bank of that city. THE Chicago banks are buying up exchange for the purpose of importing gold on local account. PHILIP CROSBY TUCKER, of Galveston, Tex., has been made acting grand commander of the Ancient and Accepted Scottish Rite Masons of America by the recent death of Dr. Batchelor, who succeeded Gen. Albert Pike. A DISPATCH from Shanghai says that the Italian Catholic mission at Mien Yang, ninety miles from Yankho, China, has been destroyed by native rioters. MRS. LUCILLE RODNEY, of Galveston, Tex., who had been tramping from Dallas to Chicago since May 16, arrived at Chicago on the 31st, a day ahead of time. She is supposed to have won $5,000. THE Akron, O., savings bank has failed. BOOMERS are allowed to cross the strip on the wagon roads. They must, however, not hunt up corner stones. A FARMER named Langevin had his house burned down near Olga, N. D., while lighting a fire with kerosene. Two children were burned to death. CONGRESS will be asked to investigate Acting Mint Director Preston. A RIOT, caused by a delay in payment of wages, was reported at the mining town of Virginia, Minn. THE London regatta of the Royal Yacht club was won by the prince of Wales' yacht Britannia the America's cup yacht Valkyrie second and the American yacht Navahoe third. NON-UNION workmen were assaulted and beaten by lumber shovers at Ash. land, Wis., after a desperateen counter with the police. SENATOR VANCE, of North Carolina, says the democratic party is pledged to the free coinage of both gold and silver. WILLIAM NONEMACHER, a farmer living near Antigo, Wis., killed his wife and three children and made an unsurcessful attempt to end his own life. ENGLAND and France have agreed upon a neutral zone in Siamese territory. NEW YORK has declared a five days' quarantine against vessels from South America to guard against yellow fever. THE third trial of M. B. Curtis, the actor, for murder, has commenced at San Francisco. JUDGE H. F. THOMASON, of Van Buren, Ark., died as the result of becoming overheated while on the bench.
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RESULT OF A RUN. Ashland, Wis., Aug. 1.-The First National Bank of Ashland suspended this morning. There has been a steady run on the bank during the last month. The resources, according to its last report aggregate $496,488. Runs are in progress on the other banks of the city.
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BANK SUSPENDS AT ASHLAND. The First National Succumbs to the Financial Stringency. ASHLAND, Wis., July 31.-The First National Bank of Ashland suspended this morning. Saturday evening the bank was closed before the usual time and it caused consternation among the depositors. This morning the First National was surrounded by crowds of anxious depositors. The curtains were raised and the following notice tacked: Owing to heavy withdrawals by depositors during the past week this bank has suspended. Depositors Will be paid III full as SOON as the bank is able to realize on assets. Thera has been a steady draw on the bank for the past month. Its resources according to the last regular statement, July 21, were $396,488.87. Dr. Edwin Ellis is president, and ex-Gov. Sam S. Fifield vice-president. The directors are among the most prominent Ashland citizens. Slight runs are being felt at the other banks, but the heavy depositors have given public notice that everything is now all right.
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Both Men Were Always Industrious, Law-Abiding Citizens-Each Attempts to Take His Own Life After Committing Revolting Deeds-First National Bank of Ashland Suspends Payments.
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ASHLAND BANK SUSPENDS. Heavy Withdrawals of Deposits Causes the First National Trouble. Ashland, Wis., July 31.-The First National bank of this city closed its doors this morning. There has been a steady run on the bank during the last month. The resources, according to its last report, aggregate $496,488. Runs are in progress on the other banks of this city. At 10 o'clock this morning it looked as if all of Ashland's banking institutions were going under, but at noon the situation wore a more cheerful aspect and no further trouble is anticipated. Saturday afternoon the First National bank closed its doors one hour earlier than usual. No reasonable excuse was given for such action and its depositors became greatly alarmed. This morning instead of opening its doors a notice was posted that owing to heavy withdrawals by depositors during the past few weeks the bank was forced to suspend payment. This, of course, precipitated a heavy run on the other three banks, but business men manfully came to the front with deposits and their action did much to restore confidence. At the Security Savings bank quite a scene was enacted. This bank is used largely by laboring men as a savings depository, and at 10 o'clock scores of them congregated in the bank and in front of the building waiting their turn at the cashier's window. On all savings deposits the bank requires a notice of sixty days before the deposit can be withdrawn. The officials took advantage of this rule and refused to pay out any of the savings deposits. This action provoked indignation on the part of the men depositors and tears on the part of the women, but the bank officials were impassive to threats and entreaties alike.
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WISCONSIN MURDERS ANTIGO FARMER KILLS WIFE AND THREE CHILDREN. TERRIBLE TRAGEDY ENACTED BY A RHINELANDER CITIZEN. Both Men Were Always Industrious, Law-Abiding Citizens-Each Attempts to Take His Own Life After Committing Revolting Deeds-First National Bank of Ashland Suspends Payments.
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THE Utes will soon be compelled to vacate their reservation in Colorado and will be sent to Utah. SECRETARY HOKE SMITH was hanged in effigy at Rome, O., because of the suspension of a pensioner. EXHIBITORS have presented their grievances to the management of the world's fair. THE McNeil & Urban safe & Lock Co., one of the oldest safe firms in the country, have assigned to Howard Douglass, of Cincinnati. The assets are $160,000; liabilities unknown. The firm has been unfortunate in several large contracts. ONE of the most daring robberies ever attempted in Chicago, was committed at the residence of Mrs. R. Ammon in broad daylight. The thieves.after binding and gagging Mrs. Ammon, succeeded in robbing her of diamonds and a gold watch, the whole value being $2,000, and made good their escape. THERE was a run on the banks at Ashland, Wis., caused by the failure of the First national bank of that city. THE Chicago banks are buying up exchange for the purpose of importing gold on local account. MRS. LUCILLE RODNEY, of Galveston, Tex., who has been tramping from Dallas to Chicago since May 16, arrived at Chicago on the 31st, a day ahead of time. She is supposed to have won $5,000. THE Akron, O., savings bank has failed. BOOMERS are allowed to cross the strip on the wagon roads. They must not, however, hunt up corner stones. A FARMER named Langevin had his house burned down near Olga, N. D., while lighting a fire with kerosene. Two children were burned to death. A RIOT, caused by a delay in payment of wages, was reported at the mining town of Virginia, Minn. NON-UNION workmen were assaulted and beaten by lumber shovers at Ashland. Wis., after a desperate encounter with the police. WILLIAM NONEMACHER. a farmer living near Antigo, Wis., killed his wife and three children and made an unsuccessful attempt to end his own life. THE third trial of M. B. Curtis, the actor. for murder has commenced at San Francisco. THE attorney-general of Colorado has rendered an opinion that the state legislature can take action establishing bullion depositories and issuing certificates thereon which shall be legal tender in the state. JOSEPH DEBOGUE. who is insane over a pump of his own invention, has been brought back to the hospital for the insane at Jacksonville, III., from Orange, N.J. THE Cudahy corner in pork and lard collapsed at Chicago on the 1st. Six prominent firms, including John Cudahy, went down in the wreck. THE Journal, of Mianeapolis, Minn., says that Mgr. Satolli is resolved upon humbling Archbishop Corrigan, of New York. AT Utica. O., John Tattle, two men named Bell. a Mr. Bowers and Mr. Skillen were killed and Joseph Shippen was fatally injured by the explosion of the boiler of a threshing machine. THE Seven Corners bank, of St. Paul, Minn., has assigned. THE Wyandotte county bank, of Upper Sandusky, O., has closed its doors. THE national silver convention met as arranged at Chicago on the 1st. FIVE section men on a hand car on the Vandalia railroad were held up by a single masked man and robbed of nearly $150. THE First national bank of Kendallville, Ind., which suspended payment June 22, has been permitted to reopen its doors for business. THE fine steamboat owned by Capt. A. T. L. Armstrong, of Nashville, Tenn., was burned at New Albany, Ind. Loss. $80,000. THE Milwaukee & St. Paul earnings for June make a most satisfactory showing.
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RESULT OF A RUN. Ashland, Wis., Aug. 1.-The First National Bank of Ashland suspended this morning. There has been a steady run on the bank during the last month. The resources, according to its last report aggregate $406,488. Runs are in progress on the other banks of the city.
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Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently sus= pended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver, Col.; the State National Bank of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.
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Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver. Col.; the State National Ban k of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.
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Banks Authorized to Resume. WASHINGTON. Aug. 30.-The following National banks, which recently suspended payment. were permitted to reopen their doors for business yesterday: The German National Bank and the State National Bank. of Denver; the First National Bank of Canon City, Col.: the Louisville City National Bank and the Merchants' National Bank. of Louisville, Ky.: the First National Bank, of Ashland. Wis.. and the First National Bank, of Platteville, Wis.
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Ashland Bank Opens, ASHLAND, Wis., Sent. 23.-The First National Bank of Ashland, which suspended July 31, will open its doors and resume business on schedule time ou Monday morning. Nearly all of the depositors have signed au agreement to take certificates of deposits, payable in three, six, nine and twelve months.
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An Ashland Bank Reopens. ASHLAND, Wis., Sept. 25.-The First Na tional bank of Ashland, which suspended July 31, opened its doors and resumed business this morning.
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Ashland bank Opens, ASHLAND, Wis., Sept. 23.-The First National Bank of Ashland, which suspended July 31, will open its doors and resume business on schedule time On Monday morning. Nearly all of the depositors have signed an agreement to take certificates of deposits, payable in three, SIX, nine and twelve months.
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Will Reopen for Business. ASHLAND, Wis., Sep. 2.5-The First National Bank of Ashland, which suspended July 21, will resume business tomorrow.