The Mechanic's Bank 
The Denison Daily News
March 4, 1873 "SKEDADLED" The Mechanic's Bank not being opened at the usual hour Monday morning, soon attracted attention, and it was not long before it was whispered around that Mr. W.L. Hull, the banker, had "vamoosed." By 10:00 a large crowd, mostly composed of men who had deposited money therein, had assembled in front of the building. Someone finally bursted open the door and a rush was made for the interior. They all had the labor for their pains, however, as there stood the safe with "narry red" in sight and no cashier at the window. It appears that Mr. W.L. Hull hired a two seated carriage at the livery stable Saturday evening after banking hours, to go to Sherman. He took with him a couple of trunks and as many valises, and that's the last that has been seen of him. The carriage was sent back Sunday night. It is the general opinion that the man who opened the first bank in Denison has sloped. Every effort possible is being made to arrest him, by interested parties, and it is almost certain that he will be checked in his precipitate flight. Various rumors are rife as to how much money he got away with, all the way from $10,000 to $70,000; but we are inclined to think $15,000 will cover it. $1,600 is the largest deposit belonging to any one individual that we hear of, but there are many individuals that are losers from $100 to $1,500 each. A firm in the city has attached the building and lot, we understand. The Denison Daily News March 4, 1873 "RUN ON THE BANKS" The absconding of the banker Hull caused a general feeling of insecurity not only among the business men in Denison but at Sherman and the neighboring towns. As a consequence, there has been heavy runs on the various banks. The Denison City Ban, Gruffith & Co., Proprietors, was crowded for several days, but they weathered the storm. At Sherman there was a similar experience, but all the banks there held out manfully. Here in Denison, the public are rapidly gaining confidence, and business will soon assume its wanted quiet. As there has been a report that the Denison City Bank has closed, we are happy to be able to assure our readers that such is not the case. The Denison Daily News March 5, 1873 LETTER DESCRIBES DILEMMA OF BANK The following letter was found in the safe in Hull's bank Monday evening. Citizens of Denison, I am in an embarrassing situation. I came here and worked in good faith. I discounted a draft fro William Barnett, January 3, for $5,850. As William Barnett wished to get the draft cashed, I looked it all over and found it was a genuine draft, drawn by the Merchants National Bank, Cincinnati, Ohio, payable at Central National Bank, New York City. On the fourth day of January, I endorsed it over to Messrs. Northrup & Chick, New York, for credit to draw against. The draft was lost in the mail and never reached its destiny. Consequently, I was crushed and could not meet my engagements. Certain parties swore vengence and I cannot stay to settle up, but will try to have every man have his honest pay, although it will require time. While I was here, I had to run regular, if not it would make an uproar. I gave in payment of the draft to William Barnett, cash $1,000 and certificate $4,850. He cashed the certificate in Fort Scott, Kansas; they endorsed it and sent it to me for collection. I paid it. I have been working to get a duplicate and get it into funds again, but the bank in Cincinnati don't give me any satisfaction. Somebody ought to make me good on it. I hope it will be made right, and go to my creditors, together with all other property. I lost the draft and took steps to get a duplicate, and I wrote them, telegraphed them, and they do not show me a proper respect in getting my money to me. I intend to go and get it fixed up as soon as possible, and to do it I have to close my doors. There is no other way. I could not stay here. The Denison Daily News March 11, 1873 BANKER HULL CAPTURED A telegram was received in the city, in the evening yesterday, that the banker Hull had been captured 60 miles from Austin. The Denison Daily News March 23, 1873 Mr. W.L. Hull was brought to the City from the Sherman jail Saturday by Marshall McDowell, to give him an opportunity to arrange a compromise with his creditors. Negotiations were going on at the City Hall all day, and we think a compromise will ultimately be effected by which the latter will get 50 cents on the dollar. Hull is anxious to go to Ft. Scott, Kansas, to raise the necessary funds on property he has there, but his creditors prefer to have him remain on this side of Red River for the present. The Denison Daily News March 30, 1873 Mr. W.L. Hull has failed to effect a compromise with his creditors, and was brought before Esquire Shackelford Saturday on several criminal charges. Denison History Copyright © 2024, TXGenWeb. Grayson County TXGenWeb |