First National Bank (Palouse, WA)

Episode Information

Episode UID
418601122
Episode Type
Run โ†’ Suspension โ†’ Reopening
Bank Type
national
Bank ID
41860 national
Charter Number
4186
Start Date
June 7, 1893
Location
Palouse, Washington (46.910, -117.076)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
435dcfb44994854f

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Full suspension, Books examined

Description

Later 1895 item likely refers to a successor Bank of Palouse after merger; relationship to the First National's final fate is ambiguous.

Events (6)

1. December 21, 1889 Chartered
Source
historical_nic
2. June 7, 1893 Run
Cause
Correspondent
Cause Details
Heavy withdrawals triggered by news of the failure of the Bank of Spokane (Spokane Falls).
Measures
Secured funds from stockholders and large depositors to meet claims; arranged to reopen next day.
Newspaper Excerpt
did not have the ready cash to meet the run caused by news of the failure of the Band of Spokane Falls.
Source
newspapers
3. June 7, 1893 Suspension
Cause
Correspondent
Cause Details
Suspension of payments due to inability to meet withdrawals following the failure of the Bank of Spokane.
Newspaper Excerpt
The First National bank closed its doors this morning. (The officers say the suspension is only temporary, and is due to the failure of the bank of Spokane.
Source
newspapers
4. June 8, 1893 Reopening
Newspaper Excerpt
Palouse Bank Opens. PALOUSE, Wash., June 8,-The First National, which closed Tuesday morning, will open for business tomorrow at noon. ... Plenty of money has been secured by Cashier Cross to more than meet all the claims of depositors which can be presented.
Source
newspapers
5. December 17, 1894 Voluntary Liquidation
Source
historical_nic
6. August 9, 1895 Other
Newspaper Excerpt
Palouse, Wash., Aug. 9.-The bank of Palouse failed to open for business this morning. At a conference held last night it was decided that this was the best course, as the cash on hand had dwindled so low ... When the panic struck the country in June, 1893, there were three banks here -the First National ... The First National closed Its doors, and afterward there was a union of the interests of the broken bank and the Palouse Farmers', and the new concern was called the Bank of Palouse.
Source
newspapers

Newspaper Articles (20)

Article from Deseret Evening News, June 7, 1893

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ONLY TEMPORARY. PELOUSE, Washington, June 7.The First National bank closed its doors this morning. (The officers say the suspension is only temporary, and is due to the failure of the bank of Spokane. It has a capital and surplus of $100,000. At the last statement it had $30,000 deposits.


Article from Grand Rapids Herald, June 8, 1893

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Caused by the Bank of Spokane, PALOUSE, Wash., June 7. The First National bank of this city closed its doors this morning. The suspension in due to the failure of the Bank of Spo kaue. The bank has a capital and sur plus of $100,000 and deposite of about $300,000.


Article from The Morning News, June 8, 1893

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A Bank Fails at Palouse. Palouse, Wash., June 7.-The First National Bank of this city closed its doors this morning. The suspension is due to the failure of the bank of Spokane. The bank has capital and surplus of $100,000, and deposits of about $30,000.


Article from The Wilmington Daily Republican, June 8, 1893

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Latest Bank Failures. SPOKANE. Wash., June 8.-As a result of the suspension of the Bank of Spokane three other banks in this city have closed their doors. They are the Washington National, the Washington Savings and the Citizens' National. Other banks which have just suspended payment are: First National bank, of Palouse, Wash.: the Bedford bank, Bedford, Ind.; New Albany Banking company, New Albany, Ind.; the State bank, Cortland, Neb.


Article from New-York Tribune, June 8, 1893

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MORE WESTERN BANKS SUSPEND. New-Albany. Ind.. June T.-The New-Albany Banking Company suspended payment this morning and closed its doors. The suspension was caused by the run made on the Bedford Bank, at Bedford, Ind., yesterday, which forced it to close. The principal stock. holders in the 186 banks are T. S. Windsley, of this city; W. S. Windsley, of Bedford, and W. L. Breyfogle, of Chicago, formerly of this city. Yesterday W. L. Breyfogle executed a deed of trust of $200,000 worth of upencumbered real estate in Chicago for the benefit of the depositors of the two banks here. 11 is claimed the assets are $212,000; its liabilities $100,000: and that the depositors will be paid 100 cents on the dollar. A deed of assignment was to-day made to John H. Stotzenberg. Indianapolis, June 7.-A Bedford dispatch to "The Sentinel" says: "The community was-startled to find yesterday that the Bedford Bank did not open Its doors. The president, Mr. Wind day, explained that in consequence of recent heavy withdrawals of deposits the bank would be forced to suspend for a few days. It is one of the oldest banks of the section." Beatrice, Neb., June 7.-The State Bank, at Cortland, this county, closed yesterday morning. It is a small institution. Deposits are about $18,000; assets unknown. Palouse, Wash., June 7.-The First National Bank, of this city, closed Its doors this morning. The suspension is due to the failure of the rank of Spokane. The bank has a capital and surplus of $100,000, and deposits of about 30,000.


Article from The Salt Lake Herald, June 8, 1893

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Carried Down by Spokane Failure. PALOUSE, Wash., June 7.-The First National bank closed its doors this morning. Officers say the suspension is only temporary, and due to the failure of the bank of Spokane. It has a capital and surplus of $100,000 and at the date of last statement had $30,000 in deposits.


Article from Pullman Herald, June 9, 1893

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Palouse Bank Opens. PALOUSE, Wash., June 8,-The First National, which closed Tuesday morning, will open for business tomorrow at noon. The bank was in first-class condition when closed, but did not have the ready cash to meet the run caused by news of the failure of the Band of Spokane Falls. The stockholders and nearly all the large depositors had the utmost confidence in the bank, and did not worry in the least, Plenty of money has been secured by Cashier Cross to more than meet all the claims of depositors which can be presented. The fact that the bank could secure aid in the present crisis demonstrates the high position it holds in financial circles, A large meeting of depositors was held today at which the most implicit confidecce in the management and reliability of the bank was expressed. There is no further danger of a panic, All three Palouse banks are solid. Cashier Cross has announced that the bank will open for business tomorrow.


Article from Morris Tribune, June 14, 1893

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Thursday, June S. The Bank of Washburn, Wis., has suspended. The First National bank of Palouse, Wash., has closed its doors. United States Minister to Belgium J. B. Ewing has sailed for Antwerp. The postmaster general has decided that disease germs are absolutely unmailable. Sixteen persons were injured by a gasoline explosion in a St. Louis grocery store. Eastern passenger officials have decided to make special excursion rates to the world's fair of one fare for the round trip. Dan Creedon, the champion middleweight of Australia, has signed articles of agreement calling for a finish battle with Alex Greggains of San Francisco.


Article from The Neihart Herald, June 17, 1893

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Thursday, June 8. The Bank of Washburn, Wis., has suspended. The First National bank of Palouse, Wash., has closed its doors. United States Minister to Belgium J. B. Ewing has sailed for Antwerp. The postmaster general has decided that disease germs are absolutely unmailable. Sixteen persons were injured by a gasoline explosion in a St. Louis grocery store. Eastern passenger officials have decided to make special excursion rates to the world's fair of one fare for the round trip. Dan Creedon, the champion middleweight of Australia, has signed articles of agreement calling for a finish battle with Alex Greggains of San Francisco.


Article from The Durham Daily Globe, July 28, 1893

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IN THESE days of suspensions and failures it is gratifying to note that many of them are due only to temporary embar rassments and that many of the reputed bursted banks are over their trouble and are again doing business. Among those which have re opened during the last few days are: Gate City National Bank, At lanta, Ga.: First National Bank, Los Angeles, Cal.; First National Bank, San Diego, Cal.: First National Bank, Santa Anna, Cal; First National Bank, San Bernardino, Cal: the Southern California National Bank, Los Angeles, Cal: Merchants' National Bank, Fort Worth, Tex.; Second National Bank, Ashland, Ky.; Capital National Bank, Indianapolis, Ind: First National Bank, Palouse City, Wash; Washington National Bank, Spokane Falls, Wash; National Bank of Commerce, Provo City, Utah, and First National Bank, Cisco, Texas.


Article from New-York Tribune, July 29, 1893

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It is to be observed that in twenty-one States and Territories there have been no !ailures of National banks, viz: In Alaska, Arizona. Arkansas, Connecticut. Delaware, District of Columbia, Idabo, Indian Territory, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Nevada, New-Jersey, Pennsylvania. Rhode Island, South Carolina, Vermont, Virginia and West Virginia. It is further worthy of note that no National banks have failed in Boston, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, Buffalo, Cincinnati. St. Louis, New-Orleans, San Francisco, Minneapolis, St. Pan! and numbers of other great commercial centres: and that but one has closed in New-York, two in Chicago. and one In Milwankee. The cause of the failures in NewYork and Chicago was due largely to mismanagement, as were numbers of others. Local scares have caused many of late to suspend. Nine of the banks failed were robbed by officials who are now under arrest. The following National banks have been authorIzed by the Controller of the Currency to resume business: Gate City National Bank, Atlanta, Ga.: First National Bank. Los Angeles, Cal.: First National Bank, San Diego, Cal.: First National Bank, Santa Ana, Cal.: First National Bank, San Bernardino, Cal.: Southern California National Bank, Los Angeles, Cal.: Merchants' National Bank. Fort Worth, Tex.: Second National Bank, Ashland, Ky.: Capital National Bank, Indianapolis.: First National Bank, Palouse City, Wash.: Washington National Bank, Spokane Falls, Wash.: National Bank of Commerce. Provo City, Utab: First National Bank. Cisco, Texas: Missouri National Bank, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent, and only closed through an unwarranted lack of confidence in them, causing disastrous runs. Resume: Number now in operation, 3,785: number failed since January 1, 1893. 105; number reopened, 14: number In hands of receivers, 33: number In hands of Bank Examiners, with application to Controller for resumption, 58.


Article from The Kootenai Herald, August 5, 1893

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# WHY BANKS SUSPEND. Comptroller Eckels Reads the Riot Act to Alarmists. Comptroller Eckels takes the exception to the recent dispatches which have appeared in the newspapers saying that 200 national banks have failed since January 1, and is out today in a statement showing that but 105 have gone into the hands of the comptroller. Fourteen of these banks have already resumed business, two of them being the First National bank of Palouse, and the Washington National bank of Spokane. In 20 states and territories there have been no national bank failures, Idaho being one of these. The statement also shows by states and territories the number of banks now in operation and the number which have suspended, there being 3,885 which are still doing business. In Oregon there are 38 in operation, with two suspensions. He also calls attention to the fact that no national banks have failed in Boston, Brooklyn, Philadelphia, Pittsburgh, Baltimore, Washington, Buffalo, Cincinnati, St. Louis, New Orleans, San Francisco, St. Paul, Minneapolis and numbers of other great commercial centers, and that but one has closed in New York, two in Chicage and one in Milwaukee, and the New York and Chicago suspensions were due to mismanagement. The comptroller also declares that a majority of those recently suspended are absolutely solvent and closed through lack of confidence, and that many more will resume.


Article from Evening Star, August 29, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000: First National Bank, Palouse city, Wash., $75,000; Southern California National Bank, Los Angeles, Cal., $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal. $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo. Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Denver, $500.000: Hutchinson National Bank, Hutchinson, Kan.. $100,000; People's National Bank, Denver, Col., $600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank. Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky. $300.000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000; Waxahachee National Bank, Waxahachee. Tex., $100,000; CitIzens' National Bank, Attica, Ind., $50,000; First National Bank. San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.


Article from New-York Tribune, August 30, 1893

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THESE BANKS HAVE RESUMED BUSINESS GOOD PROSPECTS FOR MANY OTHER OF THE SUSPENDED INSTITUTIONS. 'Vashington Aug. 2,-Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock $125,000; Gate City National Bank, Atlanta, $250,000; Capital National Bank, Indianapolis, $300,000; Washington National Bank, Spokane Falls, $250,000: First National Bank, Palouse City, Wash., $75,000: Southern California National Bank, Los Angeles. $200.000: First National Bank, Los Angeles, $200,000; First National Bank, San Diego, $300,000; First National Bank, Santa Ana, $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Tex., $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, $50,000; Missouri National Bank, Kansas City, $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, $1,000,000; National Bank of Commerce, Denver, $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, $600,000; First National Bank, Anthony. Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $300,000; First National Bank, The Dalles, Ore., $50,000; Wanpaca County National Bank, Waupaca, Wis., $50,000; Waxahackie National Bank, Waxahackie, Tex., $100,000; Citizens' National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000; total, $6,030,000. Since January 1 last 145 National banks have suspended. Of this number, one has gone into voluntary liquidation, fifty-seven have been placed in the hands of receivers, sixty-two are in the hands of National Bank Examiners with excellent prospects of early resumption, in addition to the thirty-four above named, which have already resumed.


Article from The Times, September 3, 1893

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BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. WASHINGTON, D. C. Sept. 1.Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000; First National Bank, Palouse city, Wash., $75,000: Southern California National Bank, Los Angeles, Cal: $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Den ver $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, Col.,$600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmer's National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $200,000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000: Waxabachee National Bank, Waxabachee, Tex., $100,000; Citizen's National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.


Article from The Marietta Journal, September 7, 1893

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BANKS WHICH HAVE RESUMED. A Statement from Controller Eckels Showing Their Present Capital Stock. WASHINGTON, Aug. 28th.-Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Blank Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Washington, $250,000 ; First National Bank, Palouse City, Washington, $75,000; Southern California National Rank, Los Angeles, Cal., $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $800,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Tex., $50,000, American National Bank, Leadville, Col.; $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000. First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Denver, Col., $500,000; Hutchinson National Bank, Hurchinson, Kan., $100,000; People's National Bank, Denver, Col., $600,000; First-National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmers' National Bank, Henrietta, Texas, $50,000; State National Bank, Vernon, Texas, $100,000; Fourth National Bank, Louisville, Ky., $300,000; First National Bank, The Dalles, Oregon, $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000; Waxahachie National Bank, Waxahachie, Texas, $100,000; Citizens' National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Texas, $80,000; First National Bank, Lockhart, Texas, $50,000; total, $6,030,000. Since Jan. 1 last 145 national banks have suspended. Of this number 1 has gone into voluntary liquidation, 57 have been placed in the hands of receivers, and 62 are in the hands of national bank examiners, with excellent prospects of early resumption, in addition to the 34 aboved named, which have already resumed business.


Article from The Iola Register, September 8, 1893

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NATIONAL BANKS RESUME. Comptroller Eckels Furnishes Quite a Long List. WASHINGTON, Aug. 31.-Comptroller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills national bank, Rapid City, S. D.; capital stock. $25,000. Gate City national bank, Atlanta, Ga; $250,000. Capital national bank, Indianapolis, Ind.; $300,000. Washington national bank, Spokane Falls, Wash: $250,000. First national bank. Palouse City, Wash; $75,000. Scuthern California national bank, Los Angeles, Cal: $200,000. First national bank, Los Angeles, Cal.; $200,000. First national bank, San Diego, Cal.: $300,000. First national bank, Santa Ana. Cal.; $150,000. First national bank, Kendallsville, Ind; $50,= 000. First national bank, San Bernardino, Cal.; $100,000. Second national bank, Ashland, Ky.; $50,000. First national bank, Rico. Col.; $50,000. National Bank of Commerce, Provo City, Utah: $50,000. First national bank, Cisco, Tex.: $50,000. American national bank, Leadville, Col; $100,000. Central national bank, Pueblo, Col: $50,000. Missouri national bank, Kansas City, Mo.; $250,000. First national bank, Fort Scott, Kan: $300,000. Union national bank, Denver, Col.; $1,000,000. National Bank of Commerce, Denver, Col; $500,000 Hutchinson national bank, Hutchinson, Kan: $100,000. People's national bank, Denver, Col.; $600,000. First national bank, Anthony, Kan: $50,000. Greeley national bank, Greelev, Col.: $50,000. Farmers' national bank, Henrietta, Tex.; $50,000. State national bank, Vernon, Tex: $100,000. Fourth national bank, Louisville, Ky.; $300,000. First national bank, The Dalles, Ore: $50,000. Waupaca County national bank, Waupaca, 1 Wis.: $50,000. Waxahachie national bank, Waxahachie, Tex.; $100,000. Citizens' national bank. Attica, Ind: $50,000. First national bank, San Marcos, Tex.; $80,000. 1 First national bank, Lockhart, Tex; $50,000. : Total capital stock, $6,030,000. Since January 1 last 154 national e banks have suspended. Of this num1 ber, one has gone into voluntary liquif dation, fifty-seven have been placed in f the hands of receivers, sixty-two are in the hands of bank examiners with ext cellent prospects of early resumption, t in addition to the thirty-four above a named which have already resumed t business.


Article from The Globe-Republican, September 8, 1893

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NATIONAL BANKS RESUME. Comptroller Eckels Furnishes Quite a Long List. WASHINGTON, Aug. 31.-Comptroller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills national bank, Rapid City, S. D.; capitalstock. $25,000. Gate City national bank, Atlanta, Ga; $250,000. Capital national bank, Indianapolis, Ind; $300,000. Washington national bank. Spokane Falls, Wash: $250,000. First national bank. Palouse City, Wash; $75,000. Southern California national bank, Los Angeles, Cal: $200,000. First national bank. Los Angeles, Cal.: $200,000. First national bank, San Diego, Cal.: $300,000. First national bank, Santa Ana. Cal : $150,000. First national bank, Kendalisville, Ind: $50, 000. First national bank, San Bernardino, Cal.; $100,000. Second national bank, Ashland, Ky.; $50,000. First national bank Rico. Col: $50,000. National Bank of Commerce, Provo City, Utah: $50,000. First national bank. Cisco, Tex.: $50,000. American national bank, Leadville, Col.; $100,000. Central national bank, Pueblo, Col: $50,000. Missouri national bank, Kansas City, Mo.; $230,000. First national bank, Fort Scott, Kan: $300,000. Union national bank, Denver, Col.; $1,000,000. National Bank of Commerce, Denver, Col: $500,000 Hutchinson national bank, Hutchinson, Kan: $100,000. People's national bank, Denver, Col.; ยฃ600,000. First national bank, Anthony, Kan: $50,000. Greeley national bank, Greelev, Col.: $50,000. Farmers' national bank, Henrietta, Tex.; $50,000. State national bank, Vernon. Tex: $100,000. Fourth national bank. Louisville, Ky.; 8300,000. First national bank. The Dalles, Ore: $50,000. Waupaca County national bank, Waupaca, Wis: $50,000. Waxahachie national bank, Waxahachie, Tex.: $100,000. Citizens' national bank, Attica, Ind: $50,000. First national bank, San Marcos, Tex: $80,000. First national bank, Lockhart, Tex: $50,000. Total capital stock, $6,030,000. Since January 1 last 154 national banks have suspended. Of this number, one has gone into voluntary liquidation, fifty-seven have been placed in the hands of receivers, sixty-two are in the hands of bank examiners with excellent prospects of early resumption, in addition to the thirty-four above named which have already resumed business.


Article from Elmore Bulletin, August 14, 1895

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CLOSED ITS DOORS Was Unable to Stand the Financial Strain. WAS AN UNEXPECTED DEMAND The Assets Are Placed at $165,000 and the Liabilities at About $70,000. Palouse, Wash., Aug. 9.-The bank of Palouse failed to open for business this morning. At a conference held last night it was decided that this was the best course, as the cash on hand had dwindled so low that further receipt of deposits would be unjustifiable. The liabilities are placed between $65,000 and $70,000, and the assets at about $165,000. Among the heaviest creditors were: Their & Barroll, $10,000. First National bank of Portage, Wisconsin, $11,000. London & San Francisco bank of Portland, $7500. Wells-Fargo of San Francisco, $5000. Western National bank of New York, $10,000. Deposits, $10,000, and miscellaneous, from $5,000 to $10,000. The officers of the bank are C. T. Cross, president: J. R. Payne, vice president; Fred N. Cummings, cashier. When the panic struck the country in June, 1893, there were three banks here -the First National, the Palouse Farmers', and the Security State. The First National closed Its doors, and afterward there was a union of the interests of the broken bank and the Palouse Farmers', and the new concern was called the Bank of Palouse. The Security State is now the only bank here.


Article from The Weiser Signal, August 15, 1895

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CLOSED ITS DOORS Was Unable to Stand the Financial Strain. WAS AN UNEXPECTED DEMAND The Assets Are Placed at $165,000 and the Liabilities at About $70,000. Palouse, Wash., Aug. 9.-The bank of Palouse failed to open for business this morning. At a conference held last night it was decided that this was the best course, as the cash on hand had dwindled so low that further receipt of deposits would be unjustifiable. The liabilities are placed between $65,000 and $70,000, and the assets at about $165,000. Among the heaviest creditors were: Theis & Barroll, $10,000. First National bank of Portage, Wisconsin, $11,000. London & San Francisco bank of Portland, $7500. Wells-Fargo of San Francisco, $5000. Western National bank of New York, $10,000. Deposits, $10,000, and miscellaneous, from $5,000 to $10,000. The officers of the bank are C. T. Cross, president; J. R. Payne, vice president; Fred N. Cummings, cashier. When the panic struck the country in June, 1893, there were three banks here -the First National, the Palouse Farmers', and the Security State. The First National closed its doors, and afterward there was a union of the interests of the broken bank and the Palouse Farmers', and the new concern was called the Bank of Palouse. The Security State is now the only bank here.