Commercial Bank (Santa Ana, CA)

Episode Information

Episode UID
7908091391122
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
790809139 hash
Start Date
June 22, 1893
Location
Santa Ana, California (33.736, -117.883)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
818eda130a532c2b

Response Measures

None

Description

Part of the wider June 1893 monetary stringency; bank temporarily closed then reopened June 27.

Events (3)
1. June 22, 1893 Run
Cause
Macro News
Cause Details
Heavy withdrawals driven by the general monetary stringency / financial panic of June 1893 causing depositors to demand funds.
Measures
Posted notice of temporary closure assuring depositors payment in full; closed doors to stop withdrawals.
Newspaper Excerpt
The First National bank and the Commercial bank of Santa Ana did not open their doors this morning owing to heavy withdrawals of deposits and inability to collect fast enough.
Source
newspapers
2. June 22, 1893 Suspension
Cause
Macro News
Cause Details
Temporary suspension of payments due to inability to meet heavy withdrawal demands amid the wider financial stringency.
Newspaper Excerpt
On the doors of each of the closed banks is a notice ... the banks have temporarily closed, owing to the heavy withdrawals of depositors and their inability to meet the demands.
Source
newspapers
3. June 27, 1893 Reopening
Newspaper Excerpt
The Commercial bank resumed businees today, and the deposite were largely in excess of the withdrawals.
Source
newspapers

Newspaper Articles (12)
1. June 23, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, June 23, 1893

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BANK FAILURES. The Financial Stringency Causes Various Suspensions. San Francisco, June 22.-At a meeting of the board of directors of the Pacific Bank tonight it was decided not to open the doors tomorrow. The direct cause of the suspension is a notice from the clearing-house association that the bank's paper would not hereafter be accepted. It has been known for some time that the bank was laboring under financial difficulties, and the announcement from the board does not create much surprise. The Pacific Bank was organized in 1863 by R. H. McDonald, and its present manager is R. H. McDonald. It has a paid-up capital stock of $1,000,000. It had a nominalreserve of about $700,000 and deposits of about $1,500,000. The loans are said to be about $2,500,000. The failure seems to be altogether due to the recent monetary troubles, and it is expested that the depositors will lose nothing. It is believed that the closing of the doors of the Pacific Bank will result in the suspension of the Peoples' Home Savings Bank, a collateral institution, and practically under the same management. Santa Ana, Cal., June 22.-The First National bank and the Commercial bank of Santa Ana did not open their doors this morning owing to heavy withdrawals and inability to collect fast enough. Both are solvent and have ample assets. It is understood that both the Orange and Tustin banks have closed for a like reason. It is regarded here as a senseless scare. Pomona, Cal., June 22.-The People's Bank did not open this morning. This notice was posted on the door: "Owing to the existing financial stringency, the board of directors of this bank have decided to temporarily close its doors. Depositors will be paid in full." There is very little excitement. The belief is .general that the bank is perfectly solvent. New Whatcom, June 22.-The First National Bank, the oldest bank in the county, closed its doors today at 12 o'clock. Cashier Atkins states that every depositor will be paid in full. Greenville, Mich., June 22.-The City National Bank has been closed by the bank examiners. No statement has as yet been made. Ridgeway, Pa., June 22.-The Ridgeway Bank has failed. Assets $364,000, liabilities, $216,000.

2. June 23, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, June 23, 1893

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Bank Failures in California. SAN FRANCISCO. June 22.-The Bank of Commerce, of this city, closed its doors this morning. A notice on the door stated that the bank was temporarily closed. Dopositors will be paid in full. The First National Bank and the Commercial Bank of Santa Ana did not open their doors this morning owing to heavy withdrawals of deposits and inability to collect fast enough. Both are declared to be solvent, have ample assets and can in time pay in full. The People's Bank, of Pomona, this morning posted this notice on its door: "Owing to the existing financial stringency the board of directors of this bank have decided to temporarily close its doors. Depositors will be paid in full." At Los Angeles to-day everything was quiet and peaceful in banking circles. There is but a slight run on the LosAngeles National Bank. The line of depositors was greater than that of the withdrawers. It was quiet at all the other banks.

3. June 23, 1893 The Herald Los Angeles, CA
Article from The Herald, June 23, 1893

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SANTA ANA. Several Banks Suspended-Local News Happenings. SANTA ANA, June 22.-The money panic which has been playing such sad havoc in this part of the state struck Orange county yesterday. when the Bank of Anaheim closed its doors. This morning no unusual crowds were on the street, and when at 10 o'clock, the time for opening the banks, Wm. Spurgeon, president of the First National bank, appeared and posted a note on the entrance saying the bank had closed, everyone nearly thought the bank officials had acted wisely. The Commercial bank did the same thing, and soon word reached this city that the Bank of Orange had not opened its doors. The Bank of Tustin did business all day and experienced no heavy run. The savings bank of this city is open and requiring the legal notice from depositore, with no unusual number of drawers. The reasons given by the various banks are the heavy withdrawal of money by depositors and the inability to get money in. Assurance is given all that every dollar due depositors will be paid, and of this fact none have any doubt. There is no good reason for any scare in this county, and there was none. The streete of the city have been quiet all day and a general feeling of security is expressed by all. Crops of all kinds being good, with fair prices and an abundance of money, there is no sound cause for the panic now prevailing, and after the storm has cleared away timid depositors will be wondering why they caused such a commotion and will see how groundless were their fears. NOTES. The schooners Monterey, Peerless, Newark and La Kene are at Newport unloading lumber. The Kansas people had a spendid picnic at Newport today. A large number were present. Lottie, the 4-year-old daughter of Mr. and Mrs. J. S. Roberts, died in this city last night. The infant daughter of Mr. and Mrs. J. H. Bennett died this morning of diphtheria. Nothing but banks and banking is the talk on our streets today. Mr. and Mrs. U. P. Jones have gone to Bakersfield for a short visit. The chamber of commerce held a meeting last night, but little of importance being transacted.

4. June 23, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, June 23, 1893

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National Bank and Commercial Bank of Santa Ana did not open their doors this morning owing to heavy withdrawals of deposits and inability to collect fast enough. Both are solvent, have ample assets and can in time pay in full. It is understood that both the Orange and Tustin banks have closed for the like reason. It is a senseless scare and will pass over in a few days. The savings bank of this city is open and paying small depositors, and while the withdrawals are large, nothing like a run is reported. On the deors of each of the closed banks IS a notice which gives to the reader the information that the banks have temporarily closed, owing to the heavy withdrawals of depositors and their inability 10 meet the demands. Assurance is given depositors that payment in full will be made. The depositors are all satisfied and no uneasiness is felt. Crops are abundant, prices are fair, and everything in the county is prosperous.

5. June 23, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, June 23, 1893

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THE FAILURE CROP. A Large Coffee House in New York Suspends. NEW YORK, June 22.-The failure of Henry Sheldon & Co., tea and coffee dealers at 109 Front street, is announced. The firm is one of the best known coffee houses on the street and have done a large business. They are highly rated in the commercial agencies, and the resources are between $200,000 and $300,000. D. McD. White, of the Consolidated Stock Exchange, has announced his inability to meet contracts. BOSTON, June 22.-Creesy & Noyes, contractors and builders, and Benning C. Noyes & Co., furniture manufacturers, have made an assignment. Mr. Creesy is president of the Little Kanawha Lumber company, which lately went into the hands of a receiver, and the assignment of the two above-mentioned firms is due to their being involved as endorsees on the paper of that company. GREENVILLE, Mich., June 22.-The City National bank, of this city, was closed this morning by order of the bank examiner, Caldwell. No statement of the bank's condition has vet been made public. The cause of the suspension was the steady withdrawal of deposits and the stringency of the money market. RIDGEWAY, Pa., June 22. - The Ridgeway bank, a private institution, has suspended. A gentleman who was in close consultation with the officials of the bank during the night estimates the assets at $364,000, and the liabilities $216,000. This bank has had the confidence of the working people, many of whom have all their means in the bank's care. SANTA ANA, Cal., June 22.-The First National bank and the Commercial Bank of Santa Ana did not open their doors this morning, owing to heavy withdrawis of deposits and inability to collect fast enough. Both are declared to be solvent, have ample assets and can in time pay in full. POMONA, Cal., June 22. -The People's bank did not open this morning. This notice was on the door: "Owing to the existing financial stringency, the board of directors of this bank have decided to temporarily close its doors. Depositors will be paid in full." Los ANGELES, Cal., June 22.-A careful review of the banking situation indicates that the financial atmosphere is clearing. The arrival of a large amount of coin from the North, aggregating $250,000, and the announcement that $500,000 more would arrive today had a reassuring effect. The Farmers and Merchants' bank received $500,000 additional this morning, and opened its doors with over a million of coins in its vaults, more than enough to meet all demands. It is estimated that about $8,000,000 has been withdrawn from the banks during the

6. June 24, 1893 The Dalles Times-Mountaineer Dalles, OR
Article from The Dalles Times-Mountaineer, June 24, 1893

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Two Banks in Santa Ana. SANTA ANA, Cal., June 22-Two banks of this city closed their doors this morning. The following notice was posted on the door of the First National: Owing to the heavy withdrawal of deposits and our inability to raise money on our securities, the board of directors of this bank have decided to temporarily close the doors. The bank has ample as sets, and will pay all depositors in full as soon as collections can be made. A similar notice was posted on the doors of the Commercial bank. Large crowds throng the street in front of the banks, and considerable excitement is manifested.

7. June 25, 1893 Tombstone Epitaph Tombstone, AZ
Article from Tombstone Epitaph, June 25, 1893

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mangled when the bodies were gathered up today. Of the injured three will probably die. FREdErICkToN,N.C.-Eighty dwellings and six stores, two churches and a railway station and round house were burned in the village of Gibson yesterday afternoon. One hundred and thirty families are homeless. The loss is $2,000,000; insurance light. ELLSWORTH, Me.-Fred L. Kent, cashier of the First National Bank of Ellsworth, has been announced a defaulter in the sum of $19,000, of which $10,000 is covered by the bond. The bank loses $9,000, but its ability and credit are unimpared. BerLIN-Sinking of ground in Schmidmeuhl continues. Scores of buildings have been renderd unsafe and many have been completely wrecked. Subsidence of ground began several days ago and is attributed to opening an jartesian well through which an immense amount of water has been expelled from an underground reservoir. Schmidmeuhl is in Posen and has 12,000 inhabitants. SANTA ANA, Cal.-The First National bank and the Commercial bank of Santa Ana did not open their doors this morning, owing to heavy withdrawals of deposits. It is understood that both the Orange and Tustin banks have closed for like reasons. SAN DIEGO- Bank of Commerce failed to open its doors this morning. Los Angeles-Everything is quiet today. The panic has subsided: MADRID-Great excitement prevails throughout this city in consequence of a dastardly attempt last night to blow up the residence of Senor Canovas del Castillo, late prime minister. Though the occupants of the residence escaped unhurt, the explosion was the cause of the death of one +person, the fatal injury of another and the wounding of several others. DULUTH, Minn.- The Bunnell building, a five story frame structure and a regular firetrap, was destroyed by fire last night. In the building were four stores, two saloons and two newspaper plants. Eighteen people, many of them women and children, occupied the upper floor. The fire started from an unknown cause. At the point where it originated there was no possible source of fire. The total loss is about $40,000, with a total insurance which will not exceed $12,000. It is feared that the loss of life may reach an appalling figure. Four dead bodies have already been recovered, and it 18 certain that at least three more are in the ruins. MILAN, Tenn.-For some time past Dr.John Hood, of Aden, sixteen miles north of here, has suspected improper relations existed between his wife and William Piper. Wednesday night Dr. Hood left home ostensibly on a visit to a patient, but instead hid in an outbuilding near the house. In less than an hour Piper entered the house. The doctor forced his way to his wife's bedroom and found his wife and Piper in a compromising situation. The doctor attempted to shoot Piper. but his pistol snapped. [Snatching a coal oil lamp burning on a table near by the wronged husband dashed the missile at Piper's head, the glass horribly cutting his face. The lamp exploded, the oil running in streams of fire over Piper's body, burning his right ear off, des roying the sight of both literally cook ine his breast

8. June 28, 1893 The Star Reynoldsville, PA
Article from The Star, June 28, 1893

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LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. RIDGWAY, PA.-The Ridgway bank. private institution, closed its doors, finiding it impossible to realize on securities. The estimated assets are $534,000, liabilities, $21,000. The City National Bank, Greenville, Mich.. suspended after a run. Deposits. $210,000; assets, $312,000. The Bank of Commerce, San Francisco, suspended yesterday, and the First National bank and Commercial bank of Santa Ana, Cal., did not open. The amount of clearing house certificates issued at New York Thursday was $2,350,000. This brings the total up to $4,900,000 since it was decided to issue the certificates. B. T. Ren & Son, grain dealers, Nashville, Teun., made an assignment Liabilities, $100,000, with about equal assets. Henry Sheldon & Co., tea and coffee dealers, of New York, have failed. Their resources are between $200,000 aud $300,000. BIRMINGHAM, ALA.-An unfounded rumor that the First National Bank has refused to pay a check for $80,000 precipitated a run Thursday morning. The bank paid out about $41,0 0 up to noon, when confidence was restored and the run ceased.

9. June 29, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, June 29, 1893

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Faillites da Banques La "City National Bank" de Greenville Mich. 8 suspendu ses paiements. Est fermée également la "Ridgeway Bank" de Ridg way Pa. Passif 236000 doilars. La Todd County Bank de Long Praire Minn a fait faillite. La "St Paul & Minneapolis Trust Co" de Minnespo'is dont l'ex gouverneur A. McGill est président a déposé son bilan. L'inspecteur des banques M. Caldwele a ordonné la fermeture de la "Cty National Bank" de Greenville Mich. Passif encore inconnu. La "Queen City Bank" de Buffulo N. Y. ayant un capital de 600,000 dollars a suspendu ses paiemente. Fredman & Fredman de Chicago ont déposé leur bilan ainsi que Sherman & Byrne de New-York et Creety & Noyes de Boston. L'American Exchange Bank de Minheapolis a fermée BES portes. La "First National Bank" et la Commercial Bank" toutes deux de Santa Anna Cal. n'ont pas ouvert leuis portes samedi dernier. Les portes de la "Peoples Bink" de Pomoma Cal. sont restées her métiquement closes lundi matin. La "Bank of Commerce" de San Diego, Cal. a fait faillite. Il en est de même de la "Loan & Savinga Bank" de Tresno Cal La "State Bank" et la "Bank of New England" de Minneapolis ont suspendu leurs paiemente. MM. B iri et Bradly de Chicago ont fait faillite. Passif 400,000. Tombées également: "The Sabina Bank" of Wilmington, Ohio et la "Bank of Ness City," Kansas. Quand donc la serie sera-t-elle terminée?

10. June 29, 1893 The Herald Los Angeles, CA
Article from The Herald, June 29, 1893

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SANTA ANA. The Commercial Bank Reopens-Prof. W. W. McGinnis Resigna-Notes. SANTA ANA, June 27.-The Commercial bank resumed businees today, and the deposite were largely in excess of the withdrawals. The Bank of Orange will resume business on Saturday, while the First National will open as soon as word is received from Washington. CITY BOARD OF EDUCATION. The city board of education met last night, all the members being present. Several bille were allowed. The secretary was allowed $12.50 a month as salary, and business of minor importance was transacted. The resignation of Prof. W.W.McGinnie, as superintendent of the schools, was read and accepted. This is a matter of regret, for during his etay here the gentleman has proven himself thoroughly competent for the position he has held, and under his management good work has been done by the schools. Himself and family will leave for Cleveland, O., in about two weeks. Owing to the crowded condition of the schools it will be necessary to secure the services or two or three more teachers, and these, together with teachers for the ensuing year, will be elected at the next regular meeting on Friday night of this week. There are a large number of applicants for positions. HAD TO VACATE. Fat Mary," a woman weighing about 250 pounds, and who has for the past few days been endeavoring to run a house of protitution in this city, was today ordered by Marshal Nichols to leave town. She had with her a little child aged about 6 years, and also a halfwitted German girl about 18 years old. NOTES. F.G. Carpenter's elegant new residence on Hermosa street is nearing completion. But four deeds were filed for record today. Seven marriage licenses have been issued during the past month. E.S. Wallace is spending a few days at Santa Barbara. Mies Gertie French is visiting friends at Long Beach. A band of gypsies are camping near this city. The females are telling fortunes, while the men trade horses. The campmeeting being held here by the First Methodiets is largely attended, and several conversione are reported. Thus far this season, 212 tickets have been sold by the railroad agents here to Santa Anans who have visited the world's fair. Walter St. John has returned from a visit to Chicago. The steamer Corona, which touched at Newport yesterday, left 30 tons of freight for Santa Ana merchants. Two carloads of potatoes were shipped east from this city today. Harry Stafford and wife were made happy yesterday by the arrivalof a baby girl. Sixteen carloads of freight left for eastern points over the line of the Santa Fe yesterday from this city. A dance will be given at Newport Friday night. Miss Edith Wright left for New York yesterday. Word was received by Marshal Nichole today, stating that M. G. Vanderbeek would be tried in Georgia on a charge of forgery before he [could be returned to this city, where several cases of embezzlement are against him. Mr. R. Hewey has returned from Michigan.

11. June 30, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, June 30, 1893

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MONETARY MATTERS. More Suspensions on Account of the General Funncial Stringency. SANTA ANA, Cal., June 22. .-The First national bank and the Commercial bank of Santa Ana did not open their doors this morning, owing to heavy withdrawals of deposits and their inability to collect fast enough. Both are solvent and have ample assets. It is understood that both the Orange and Tustin banks have closed for a like reason. It is regarded here as a senseless scare. One at Pomona, Cal. POMONA, Cal., June 22.-The People's bank did not open this morning. This notice was on the door: "Owing to the existing stringency, the board of directors of this bank have decided to temporarily close its doors. Depositors will be paid in full." There is very little excitement. The belief is general that the bank is perfectly solvent. Aid for Los Angeles Banks. NEW YORK, June 22.-Several telegraphic transfers of monev to San Francisco were made by New York banks this morning. Up to 1 o'clock the amount aggregated $850,000. This was paid for in gold certificates and treasury notes. The money transferred is intended for Los Angeles banks. Michigan. GREENVILLE, Mich., June -The City national bank was closed today by the bank examiner. No statement has been made public. Pennsylvania. RIDGEWAY, Pa., June 22.-The Ridgeway bank has failed. Assets, $364,000; liabilities, $216,000. Interest on Bonds. WASHINGTON, June 22. - Secretary Carlisle has directed the the July interest on the four per cent bonds be paid Monday.

12. June 30, 1893 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, June 30, 1893

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man. while working in a well near Morehead, Ky., were overcome by gas and both were killed. c. c. CRANE & Co., lumber dealers of Cincinnati. O., made an assignment on the 21st. The assets are givenas $250,000 and liabilities $150,000. DURING a severe thunder storm on the afternoon of the 21stat River Falls, Wis., lightning struck the first center pole in the menagerie of Ringling Bros.' circus. Seven persons were killed instantly and quite a number injured, none of the latter fatally. WASHINGTON LACKEY, a wealthy farmer of Lawrence county, III., met with a terrible death on the 21st. While cutting wheat his team ran away, and he was thrown from his seat and fell before the sickle-bar. One leg was cut off and his body almost cut in two. He died in the field. HEREAFTER Col. Davis will be director general of the World's fair in fact as well as in name. The local directory, at its meeting on the 21st, awarded to Col. Davis the full powers of his position. and will also elect Director of Works Burnham as Col. Davis' executive officer. HARRY MORGAN. a young man 17 years of age, son of prominent and wealthy parents, took his own life at Ottumwa. la.. on the 21st. because his sweetheart did not reciprocate his love. He was insanely in love with a young lady named Zella Black. THE ezar of Russia has officially thanked the commissioners who negotiated the extradition treaty between Russia and the United States. WASHINGTON BUMAKER. 42 years oid. was instantly by lightning in Johnson county. Ind., on the 21st. His brother lay near his feet. but was not hurt. Lightning tore part of the house away and uprooted large trees in the neighborhood. HENRY SEELDON & Co., the wellknown tea and coffee dealers of New York,failed on the 22d. They are highly rated in commercial agencies, and their resources are between $200,000 and $300,000. JACOB HAJANEKI, a German. 45 years of age. of Akron, O., mortally wounded his wife and then stabbed himself, on the 22d, because his wife had commenced divorce proceedings against him. WILLIAM KLINE, night engineer at the Big Four shops in Indianapolis, Ind., was found murdered. on the 22d, at his home in the above city. There is no clew to the murderer. BY an explosion of gas in the Nanticoke mine at Wilkesbarre, Pa., on the 22d. {in Jefferson county, four men and one boy were instantly killed and three others seriously injured. THIRTEEN persons were instantly killed, three fatally and eight seriously hurt by a tornado which swept over the Kansas river valley, Kas. on the 22d. FOREST fires were raging on the Green Horn mountains, near Pueblo, Col., on the 22d, doing an immense amount of damage. THE First national bank and the Commercial bank of Santa Ana, Cal., closed their doors on the 22d. Gov. McKINLEY of Ohio visited the World's fair, on the 22d. and held an informal reception in the Ohio state building. J. McD. WHITE, of the New York Consolidated stock exchange, announced, on the 22d, that he was unable to meet his contracts. A REVOLUTION broke out, on the 22d, in San Salvador. A number of banks in San Salvador have suspended business transactions, and will remain closed until peace has been restored