Bank of Everett (Everett, WA)

Episode Information

Episode UID
6362077691122
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
636207769 hash
Start Date
June 14, 1893
Location
Everett, Washington (47.979, -122.202)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
74946366e9459229

Response Measures

None

Description

Bank made an assignment in June 1893, attempted a reopening scheme in Oct 1893, but a federal receiver was appointed in 1897 and assets were later sold.

Events (5)
1. June 14, 1893 Suspension
Cause
Macro News
Cause Details
Stringency in the money market led to assignment for benefit of creditors and the bank's doors being closed.
Newspaper Excerpt
The Bank of Everett posted a notice on its door yesterday morning announcing that it had made an assignment for the benefit of its creditory.
Source
newspapers
2. October 20, 1893 Other
Newspaper Excerpt
The suspended Bank of Everett has promulgated a reopening scheme which is meeting favor with depositors.
Source
newspapers
3. February 27, 1897 Receivership
Newspaper Excerpt
John H. McGraw was today appointed receiver of the Bank of Everett by Judge Hanford.
Source
newspapers
4. October 5, 1897 Other
Newspaper Excerpt
The uncollected notes and judgments, assets of the Bank of Everett, which failed in 1893, were sold today at public auction by Receiver Elwood Evans.
Source
newspapers
5. November 10, 1898 Other
Newspaper Excerpt
The receiver of the defunct Bank of Everett has made his final report to the court, and an order directing assets to be sold at remaining auction.
Source
newspapers

Newspaper Articles (10)
1. June 15, 1893 New-York Tribune New York, NY
Article from New-York Tribune, June 15, 1893

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SMALL BANKS IN THE WEST GO UNDER THE FINANCIAL STRINGENCY THE REASON FOR COLLAPSES IN SEVERAL STATES. Indianapolis, June 14.-The Citizens' Bank of Fairmount, Ind., has suspended operations owing to stringency in the money market. The capital stock 13 $30,000: assets, $191,060 91; liabilities from $130,000 to $130,000. Dr. Henley, of Fairmount, is president and Levi Scott cashier. Mr. Scott is also the largest stockholder. J. P. Winslow. George R. Thurston and James Johnson are directors. Phillip Mat. ter, of this city, has been appointed assignee. Riverside, Cal., June 14.-The doors of the Riverside Banking Company failed to open at the usual hour to-day. The following sign was displayed on the door: "This bank is closed under instructions. Depositors will be paid." Snchomish, Wash., June 14.-The Bank of Everett posted a notice on its door yesterday morning announcing that it had made an assignment for the benefit of its creditory. The Institution was doing business under the State law with a nominal capital of $50,000. Its paid-up capital was $30,000. It is understood that the liabilities are about $65,000; assets, $87,000. An examination of paper and securities was made by a committee of the clearing house, who authorized the statement that, in their judgment, If the securities are handled properly, every depositor would be paid in full. Painesville, Ohio, June 14.-This morning the Lake County Bank of Aaron Wilcox & Co. posted a notice on its door as follows: "This bank has suspended temporarily, being unable to meet the run on it at present, owing to the stringency in the money market. was All depositors will be paid In full." A run begun on the bank yesterday, but business men had full confidence in it and deposited up to the time of closing for the day. The general impression is that the bank will be able to resume business in a short time. The personal estate of the stockholders is liable for the indebtedness, in all amounting to several hundred thousand dollars. The bank is be lieved to be perfectly solvent. It was organized twenty-five years ago and has always been considered a sound Institution. Topeka, Kan., June 14.-State Bank Commissioner Preidential who has recently made an examination into the affairs of the Bank of Burr Oak, which falled last Saturday. declares that Manager Hurlburt of the tank conducted Its affairs in such a manner as will send him to the ponitentiary. Hurlburt disappeared the day after the failure. leaving a wife and two children behind. and can't be found. Commissioner Breidenthal says Hurlburt has made many false state ments to the bank commissioner. The bank's deposits amount to 845,000, and although the assets on their face show a value of $53,000. they are nearly worthless and will net the depositors less than twenty cents on the dollar.

2. June 15, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, June 15, 1893

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Faillites de Banques et autres La "Citizens National Bank" de Hilsbora, o, vient de suspendre ses paiements. L3 "Frank A. Lappen Company" de West Superior a fait faillite. La "Hudson Savings Bank" d'Hudson, Wis., a fermé se3 portes. La banque de Jos Higins 84 Wa hington Street Chicago, a déposé son bilan. W. L Sherwood de Chicago à suspendu SPB paiemente. Hobbs et Tacker, banquiers de Savanaugh, Ga. ont fait faillite. La "Bank of Buir Oak," Kan., a fait faillite La "Peoples Guarantee Savings Bank" de Kansas City Mo., a déson bilan. La "Union Stock Yard Bank" de Sioux City S. D. a suspendu ses paiements. Il en est de même de la "Brule County Bank" de Chamberlain S. D. "L'American National Bank" d'Omaha Neb., a ferme S S portes. On dit que le "G'obe Laon & Trust Co" la "Dime Savings Baik" la 'G rmania Savings Bank" et la "Nebraska Savings Bink" sont en danger. Fermée également la "Trust National Bank" de Lakota S. .D. E. S. Howard vient d'etre nommé syndic de la faillite de la Firet National BaLk" de Cedar Falls, Iowa. La banque d'Everett, à Snoho mish, Wash., vient de fermer ses portes. Enfin, la "People Savings Bank"

3. October 20, 1893 Washington Standard Olympia, WA
Article from Washington Standard, October 20, 1893

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STATE NEWS. Puyallup is to have a dress-reform club. Mount Vernon's assessed valuation is $360,000. The Chelan Eagle has folded its wings in death. Seattle's taxable wealth is a little over $38,000,000, Seattle will need $260,000 for her schools this year. The presbytery of Spokane meets at Spokane Tuesday. A lodge of the old Foresters is being formed at Spokane. Yakima teachers have organized a county association. New Whatcom's September foreign exports were $26,000. The Peshastin quartz mill's pay roll is $6,000 monthly. A Blaine mill has made 35,000 boxes for salmon cans this season. The Everett smelter is completed and is waiting for ore to start up. Three hundred placer claims have been taken up along Ruby creek. Of Walla Walla's $38,743.45 city taxes only $5,952.25 is delinquent. Silver-backed salmon are running up the streams about Port Angeles. The hops of 1893 in this State ac cording to current prices will be worth $1,200,000. Over 300 Tacomians visited the World's Fair during the month of September. Claus Spreckles will establish a steamship line between Puget Sound and Australia. A new flouring mill will be constructed at Pullman, with 100 barrels daily capacity. The telephones in the Spokane schools will be taken out unless the rates are lowered. P. C. Hayes, of Orilla, this season picked 52,000 pounds of plums from 430 four-year-old trees. The suspended Bank of Everett has promulgated a reopeningscheme which is meeting favor with depositors. Flouring mills all through the agricultural districts of Washington are exporting hundreds of tons of flour. The Willapa Harbor Extract Works at South Bend has received a first prize at Chicago for white hemlock tannin extract. The estimated hop crop of Yakima county is 14,000 bales, valued from $350,000 to $500,000. Last year'scrop was 3,500 bales. Dr. A. N. Gill, under four years, sentence at Chehalis for manslaughter, is in jail again, having been surrendered by his bondsmen. The growing crop of wheat on 800,000 acres of Eastern Washington, will yield over 20,000,000 bushels, the average being nearly 30 bushels to the acre. At Port Townsend Judge Ballinger has ordered the grand jury convened on the 23d inst. to inquire into the alleged irregularities in the Auditor's office. Adams county has a stockmen's protective association, for resisting the operations of rustlers, which will perfect organization at Ritzville October 28. The postoffice, Farnsworth's drug store and O. M. Rudd's jewelry store at Rockford were robbed, the burglars taking in all $500 worth of plunder from the three places. The best bid the Cowlitz county commissioners had for their proposed bond issue was, according to the Kalama Bulletin, "a 7 per cent bond and a premium of $100." The death warrant of John White is the first ever issued in Snohomish county. He is to be hanged Friday, December 22, which will be the first anniversary of his crime. A run of 24 tons of ore was recently made in the Black Bear mill, Okanogan county. which netted about $300 in bullion and 1,000 pounds of concretes worth about $193 per ton. At Colfax, Judge Sullivan has dis missed the case of John J. Maraseck, who was charged with knowingly receiving stolen cattle, for want of sufficient evidence to sustain the charge. The Settler's League of Gray's Harbor is corresponding with the interior department about the delayed survey of that section, and has received grounds for hoping that something will be done. A young man by the name of Doughdill who killed a man in Alabama a year ago, surrendered himself to Sheriff Woolery at Seattle last Monday. He said he wanted to go back and see his wife and family. A coachman at New Whatcom had a miraculous escape from a frightful death. He was carrying two valises across the railroad track when he was struck by the engine of moving train and hurled into the air, alighting however, unharmed. H. S. Gile, of Ilwaco, has brought suit of ejectment against a number of fishermen who, he claims, are occupying his land on Chinook beach. The fishermen claim that the land their traps are on is not his, but made ground which lies without his estate. John Galligher ianitar of the Pooific

4. October 20, 1893 Pullman Herald Pullman, WA
Article from Pullman Herald, October 20, 1893

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NORTHWEST NEWS. WASHINTGON. Seattle's taxable wealth is a little over $38,000,000. The Presbytery of Spokane met at Spkoane Tuesday. A lodge of the old Foresters is being formed at Spokane. Silver-backed salmon are running un the streams about Port Angeles. Of Walla Walla's $38,743.45 city taxes only $4,952.25 is delinquent. The telephones in the Spokane schools will be taken out unless the rates are lowered. The suspended Bank of Everett has promulgated a reopening scheme which is meeting favor with depositors. Dr. A. N. Gill, under four year's sentence at Chehalis for manslaughter. is in jail again, having been surrendered by his bondsmen. At Port Townsend Judge Ballinger has ordered the grand jury conyened on the 23d inst. to inquire into the alleged irregularities in the auditor's office. At Colfax, Judge Sullivan has dismissed the case of John J. Maraseck, who was charged with knowingly receiving stolen cattle, for want of sufficient evidence to sustain the charge. A coachman at New Whatcom had a miracul>us escape from a fright'u! death. He was carrying two valises across the railroad track when he was struck by the engine of a moving train and hurled Martha Jane Wood, who committed suicide at Colfax recently, had been a very handsome girl, and even dissipation had not yet despoiled her of beauty, She was 24 years old last May. Her maiden name was'Jordan, and she was married to George Wood at Eugene. Or., October 23, 1886, when 17 years of age. Her mother still lives in Salem, Or. A female tramp, 25 years old and good looking, is beiting her way along the Union Pacific toward Po tland, having in view California, where she claims to have friends. She says she started from Peoria, Ill., with enough money to pay her way to Los Angeles at 3 cents a mile, but that her money gave out at Bozeman, and now she hides herself wherever she can about freight trains. Word has reached Spokane that Chas. Wright and Ed Smith, two prospectors, quarreled near Bonner's Ferry over the possession of their camp utensils. They had worked together all summer. Wright shot Smith in the back. Smith ran through the woods and got in a rowboat and Wright fired several ineffectual shots. Smith drifted into town and was rescued. Sheriffs are bunting for Wright. Smith will probably die, James D. Murray, of Ilwaco, who was first officer of the ill-fated ship Strathblane, which was wrecked on the weather beach near Ilwaco three years ago, has erected a monument over the grave of brave Captain Outhell and the men who perished with him. Mr. Murray made a trip to England last fall and carried the captain's last message to his young wife over the sea, a duty made doubly sad through the fact that the bereaved lady had refused to believe that her husband would neyer come back, but still anxiously awaited his return. Sheriff Pugh, of Spokane, has received a telegram from Arlene, Mont., stating that Louie Stemsto, the murderer of Mah-So-Lah at Spokane, August 16, was under arrest there. It was signed by Joseph T. Carter. Louie Stemsto, or Louie, as he is known, is a Spokane Indian. On the night of August 16, near the old Twickenham power-house, Louie, Con-Con-Spokane and another Indian, while under the influence of liquor, killed Mah-So-Lah, a young Indian from the Flathead reservation, who was in Spokane on a visit. Louie is said to have knocked him down, when when Con Con took the piece of iron pipe and crushed in his skull The Indians all escaped and these facts were developed at the inquest. Louie will be brought to Spokane at once.

5. February 28, 1897 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, February 28, 1897

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RECEIVER APPOINTED. Tacoma, Wash., February 27.-ExGovernor John H. McGraw was this afternoon appointed receiver of the bank of Everett by United States Judge Hanford.

6. February 28, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, February 28, 1897

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THE BANK OF EVERETT. Receiver Appointed for the Defunct Institution. TACOMA. Feb. 27.-Special.John H. McGraw was today appointed receiver of the Bank of Everett by Judge Hanford. The selection is the result of the application of Receiver Tillinghast. of the Columbia National bank. who alleges that his institution holds approved claims amounting to $27,732.53 against the Everett bank. The Everett bank assigned to M. O. Tibbets in June, 1833, with assets worth $70,000. In the petition it is stated that Tibbets has moved to British Columbia, out of the jurisdiction of the court, leaving his trust to take care of itself.

7. March 5, 1897 Washington Standard Olympia, WA
Article from Washington Standard, March 5, 1897

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The weather prospocts are Tonight and Saturday occasionally rain." Even Seattle is moved to giving a high compliment to Olympia's improved harbor. A delighted audience witnessed the rendition of Rienzi, at Olympia Theater, last night. Mrs. Williams of the New York bakery, returned from a trip down the Sound yesterday. The term of school on the Westside is continued to make up for time lost during the cold weather. The Capital Brewing Co. received a shipment of 250 sacks of malt yesterday from San Francisco. Mrs. J. Ballweg left Wednesday afternoon for Baker City, Or., where she goes to join her husband. Mrs. Robt. Frost left for Port Townsend Wednesday, to attend the funeral of the late Chas. M. Bradshaw. Ex-Governor John H. McGraw has been appointed receiver of the Bank of Everett, by U.S. Judge Hanford. S.C. Knapp, of this city, was a passenger by the Umatilla for San Francisco which left Seattle to-day. Tickets for The Prodigal Father" will go on sale at O'Connor's bookstore to-morrow morning at 9 o'clock. John Bethel of this city, lately took unto himself a wife in the person of Miss Louisa Ramsey of Whatcom. R. G. Esterly and Miss Annie Heath, of Tumwater, were lately united in matrimony by Rev. E. Hopkins. The women of Olympia have begun what they call "amateur gardening." Well, there is something in a name, after all. The Salvation Army will hold a Cake and Coffee Social, to-morrow night at their hall. Refreshments 10 cents. Thomas Prather is so far recovered from his late illness as to be able to trundle his baby carriage along the sidewalk. Mr. Willis Shelton passed through the city on Wednesday en route to Cosmopolis, of which place he is now a resident. " What beautiful weather," was the appropriate salutation tossed from mouth to mouth, the greater portion of the past week. Mr. Edward Callow, of Kamilchie, who has been visiting relatives and friends in Olympia this week, left for his home to-day. Papa and mamma robin are interviewing the old pear tree in quest of a desirable place to set up house-keeping for the summer. F. Covington and family, formerly residents of this city, late of Seattle, have returned to make this place their permanent home. Jeff Canon, of Tenino, was in the city yesterday for the purpose of taking preliminary steps for proving up on his homestead entry. Eva, a daughter of Allen Weir, has had an operation performed on her eyes, which it is believed will be successful in removing the obstruction to vision. Charles Lindstrom, who was in the county jail a few weeks ago charged with being insane, and was released as being simply ill, died at the poor farm Tuesday. James Brewer, the marketman, has sold out his business to the Thurston County Meat and Produce Co., retaining an interest, however, in the new incorporation. Dr. N. J. Redpath, assistant physician at the Western Washington Hospital for the Insane, has resigned his position, and will remove to this city to resume practice. John H. Ogden left yesterday for Grand Forks, B.C., to join his partner George E. Filley in mining operation, who is on the ground and reports excellent prospects. The depositors of the First National Bank will hold a meeting at the office of T. N. Ford to-morrow (Saturday) afternoon at $1:30 o'clock

8. October 6, 1897 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 6, 1897

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BANK OF EVERETT ASSETS SOLD. More Realized Than Expected, and More Property to Go. Special Dispatch to the Post-Intelligencer. EVERETT, Oct. 5.-The uncollected notes and judgments, assets of the Bank of Everett, which failed in 1893, were sold today at public auction by Receiver Elwood Evans, of Seattle. The amount realtred was $4,008.40. The only real estate sold was the Tower block, which brought $1.000. The totals are much greater than were expected, and are very much more than would have been realized if sold a year ago. Bids were asked on the bank building. which is & two-story brick, standing on the corner of Pine street and Hewitt avenue. In addition to this there are several lots in this city and one lot in Seattle, the latter worth about $2,000, the bank furniture and fixtures and burgiar-proof safe. These will be sold later.

9. November 10, 1898 The Yakima Herald Yakima, WA
Article from The Yakima Herald, November 10, 1898

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ALONG THE COAST. Items of General Interest Gleaned From the Thriving Pacific States. The ministers of Spokane are generally of the opinion that there should be but one legal ground for divorce. new sawmill of the Equality near Edison. Colony, The Wash., is completed and paid for. Its daily capacity is 10,000 feet. The shipments from Coulee City, last week to of containing nearly 1,500 head, Wash., cattle, amounted 52 cars and representing $42,000. The Indians who have been causing trouble are getting out of Grant county, Oregon, as fast as possible, and no further trouble is expected. According to the financial statement of Coos county, Oregon, the 2 per cent reduction in the legal rate of interest will mean a yearly saving of something over $1,800. G. Gunerson, of Melbourne, and one of the largest timber importers of Australia, is viisiting the Northwest arranging for the purchase of several cargoes of fir lumber. Isaac W. Garrett, ex-secretary of state of Idaho, and a pioneer of Oregon, died at Boise. Mr. Garrett had suffered from a complication of troubles for about a year. The Grand Ronde Lumber Company, of La Grande, has just closed large conwith different southern California fruit for very quantitracts associations fruit large boxes. ties of orange and other receiver of the Bank of The panic, Everett, has which failed early in the made his final report to the court, and an has been made assets to be sold at remaining order directing auction. the sheet metal The Pacific worksat last week New Whatcom started up again a crew, after having been for about a the of means with shut down half employment month. about 50 This or 60 persons, and is welcome news to a large number of people. The discovery has been made that some miscreant has defaced the two 54ton guns that are waiting to be placed in position at Marrowstone point, in Puget sound, by cutting names on Sus- the eteel barrels with soap and acid. picion reste on discharged workmen. The Imperial Paste Company has been at Great for the purpose of organized manufacturing Falls, of Mont., that macaroni to supply the trade and adjonining etates. The output of the factory is 500 pounds daily. They have orders ahead for three months product. The receiver of the defunct Spokane Savings bank has been authorized by the court to pay a dividend of 7 per cent the the outstanding claims against of on institution. This will make a total The 52 cent paid by the bank. total per indebtedness of the bank amounts to $100,409.54. The Golden Giant dredger, now be rapidly pushed to completion at of ing Lannan's spur. below the mouth Burnt river, will be ready to operate 2,000 December 1. Its capacity is be on cubic yards per day, and it is to operated on 160 acres which are report. ed good for 50 cents per cubic yard. The Republic Mining Company declared of Eastern Washington has just $30,another dividend amounting to which is at the rate of 3 cents per share. 000, This is the second monthly like dividend paid by the company assurance of amount, and there is every this the dividends will continue mill at is rate that every month, although the not running at its full capacity. Never before was grass 80 scarce now. on Gilliam county range as bunchthe in pastures where the old so devoid Even is abundant, the grass is grass nutriment from long-continued flesh on of that stock are losing Several sheepmen have hay already, and wise flocks are reducing their just while the pirce and drought it. feeding cattlemen now, is commenced good. sheepmen contract to cut 5,000,000 feet been of The and 175,000 ties has Stout, secured lumber by McPherson Bros. contract & is Brooklyn, B. C. This of the Columbia & Western railway, Rob with will use the lumber on its conwhich inson-Penticon branch. This firm Glad. removing their mill to timber stone, templates where a fine body of exists. Holmes. of Wellington, New John was recently in Vancouver, the gov. Zealand, a commissioner from mission to C., as of the island on a trade of ernment new fields for the hemp profind Zealand, which last year says duced this country offers a fine opening New 22,000 tons. Mr. Holmes for

10. November 10, 1898 The San Juan Islander Friday Harbor, WA
Article from The San Juan Islander, November 10, 1898

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THE COAST. ALONG are of The Spokane of that there should erally for be divorce. the Equality is comnear Colony, Wash., Edison. for. and daily paid pleted capacity is feet. 10,000 from City, The Coulee 52 shipments to Wash., 500 of head, cattle, and who been The causing Indians out counGrant trouble ible, as and ty, Oregon, further trouble expected. the financial statement 2 of According tr per the Coos Oregon of in the rate legal interest reduction of will saving something over $1,800. one and of G. of of Melbourne the Augthe tralia, Northwest of for the ing cargoes several purchase of of W. etary Isaac ex-secret Garrett, of Orenioneer state Idaho, had Mr. died gon, Garrett of troubles for The Ronde of La large California for very large quantiand of ties fruit other boxes. of of the The Bank Everett, in the early which panic, to the and made court, the an been order directing at to sold auction. New The last week again Whatcom been with having after crew, This shut down about month. of the about means 60 news welcome large that The made been the two some be to ton placed in point, on the by Puget sound, cutting Suswith and soap acid. steel on picion workmen. discharged has The Paste Imperial been Great Falls, Company , of for sturing of the that trade The and output 500 the daily. They factory pounds for ahead three have months product. of the The defunct Spokane ized been Savings 7 of the dividend on the claims against will total This make 52 by the The per bank. paid of the bank total indebt amounts to 409.5 beThe now Giant dredger, Golden at ing the mouth below to be ready Burnt operate is Its on to it day, and cubic 160 are which report ed cubic yard. of The Mining just Compectioned Eastern to $30, another dividend mounting of 000. the rate is the This second share. by of the paid company dividend is and every there amount, will that continue the mill i although full not capacity 80 was scarce Never before grass as the range now. county in the old Even bunchis devoid abandant, from flesh losing it. have hay wise feeding and their Hocks reducing just now, good. to cut feet 000 The 000, contract ties and has 175,000 lumber & by Bros. Stout, secured McPherson of This Brook & the with Western railway, Columbia its which Rob Lumber on firm con This insonbranch. to mill Gladof body stone, template Bere timber exists. New John Holmes, was Zealand, the from the igland mission for the find trade fields hemp last New which year duced tons. Holmes for this offers opening trade housecottons, and hold salmon cultural Five the Sunday Payallup to the the last pay royal honors infant, who died Reed and last week, Leschi, who the the chief Leshi, George Puyallap is as tribe, death mourned of of the leader peopossible but one ple, heir being living now the left. was uncle leader Leschi's in the the whites against he for his lost life. early which daye, In of the with request of the trade, which bliddle was in of the several the cities, Pacific Los week urging congres to to take restore the States United trade carrying in the under vessels gailing American and of the also the press its to the aid powerful. underand flag, coast to of lend this to on-operate great with local