Bank Run and Closure Triggers Philadelphia Scrutiny
A massive bank failure shocks Philadelphia as the Cheerie Street National Bank closes under duress and is placed in the hands of the National Bank Examiner. Details show deposits totaling roughly 289,854 in Pennsylvania funds with government depository status insured by U.S. bonds, amid ongoing efforts by President Siegerly to meet liabilities and discussions of a large stock issue.
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Union Pacific Bonds Disturb Money Market Risk
From Washington and St Louis reports the government faces bond redemptions of Union Pacific bonds due January 1. Secretary Gage aims to minimize market disruption with cash deposits and bond transfers. The overall cash outlay through January 6, 1898 totals about $8.58 million, with additional security measures in place.
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Contagious Blood Poison Cure Claims Broad Remedy
An early 20th century patent remedy advertisement touts Swift Specific as a universal cure for Contagious Blood Poison, Scrofula, Eczema and Rheumatism. It warns against mercury and promises vegetable ingredients, a $1000 reward for counterproof, and free books by mail from the Swift Specific Company, Atlanta.
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