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Object Leason for Goldbugs. Lansing, Mich., July 13.-The People's savings bank failed to open this morning and will go into a receiver's hands. Failure to realize on assets to meet constant withdrawals is the cause of the suspension. The savings deposits had been reduced to less than $40,000.
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A Bank Failure. LANSING, Mich., July 13.-The People's Savings bank, this city, failed to open its doors this morning and will go into the hands of a receiver. The bank was capitalized for $150,000. Failure to realize on its assets to meet the constant withdrawals is given as the cause of suspension. The savings deposits have been reduced to less than $40,000.
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MICHIGAN BANK SUSPENDS. The People's of Lansing Unable to Stand the Present Strain. LANSING, Mich., July 13, 1896.-The People's Saving Bank did not open its doors this morning. The bank has been on the ragged edge for some time, but up to Saturday it was believed its diffculties could be tided over. Rumors became rife Saturday afternoon about closing, that the bank was unsound and a slight run was perceptible. The directors voluntarily sent for Commissioner Sherwood and the agreement was reached that the Michigan Trust Company should be appointed receiver. The bank had a capital of $150,000. Its failure is due to the impossibility to realize on its assets owing to the stringency of the money market and the gradual withdrawal of deposits. The steady withdrawal of deposits left the bank in such a crippled condition it could not continue business. None of the other local banks are involved in the People's Bank misfortune, and its closing has caused but little excitement.
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A Lansing Bank Fails. LANSING, Mich., July 13.-The People's saving bank failed to open this morning and will go into the hands of a receiver. The bank is capitalized at $150,000. The failure to realize on assets to meet constant withdrawals is given as a cause of the suspension. The savings deposits have been reduced to less than $40,000.
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FAILURE OF A SAVINGS BANK. Lansing. Mich., July 13.-The People's Savings Bank did not open its doors this morning. The bank has been on the ragged edge for some time, but up to Saturday it was believed its difficulties could be tided over. Rumors became rife Saturday afternoon that the bank was unsound, and a blight run was perceptible. The directors voluntarily sent for Commissioner Sherwood, and the agreement was reached that the Michigan Trust Company should be appointed receiver. The bank had a capita of $150,000. Its failure is due to the Impossibility to realize on its assets owing to the stringency of the money market, and the gradual withdrawal of deposits. The steady withdrawal of deposits left the bank in such a crippled condition that it could not continue business. None of the other local banks are involved in the People's Bank's misfortune, and its closing has caused best little excitement.
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A Bank Failure LANSING, Mich., July 13.-The People's Savings bank failed to open this morning and will go into the hands of receivers. The bank is capitalized at $150,000. Failure to realize on assets to meet constant withdrawals is given as the cause of suspension. The savings deposits have been reduced to less than $40,000.
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SAVINGS BANK SUSPENDS. No Other Institution Involved-But Little Excitement. LANSING, MICH., July 13.-The People's Saving Bank did not open its doors this morning. The bank has been on the ragged edge for some time, but on Saturday it was believed its difficulties could be tided over. Rumors became rife Saturday evening about closing time that the bank was unsound, and a slight run was perceptible. The directors voluntarily sent for Commissioner Sherwood and an agreement was reached that the Michigan Trust Company should be appointed receiver. The bank had a capital of $150,000. Its failure is due to the impossibility to realize on its assets, owing to the stringency of the money market and the gradual withdrawal of deposits. The steady withdrawal of deposits left the bank in such a crippled condition it could not continue business. None of the other local banks are involved in the People's Bank's misfortune, and 4ts closing has caused but little excitement.
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The People's Savings Bank of Lansing, Mich., failed to open its doors yesterday, and will go into the hands of a receiver. The bank is capitalized at $150,000.
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Bank Doors Closed. LANSING, Mich., July 14.-The People's Savings bank of this city failed to open its doors and will go into the hands of a receiver. The bank is capitalized at $150,000. Failure to realize on its assets to meet constant withdrawals is given as the cause for suspension. The savings deposits have been reduced to less than $40,000.
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A BANK FAILURE. Lansing. Mich., July 13.-The People's Savings bank, this city, failed to open its doors this morning and will go into the hands of a receiver. The bank was capitalized for $150,000. Failure to realize on its assets to meet the constant withdrawals is given as the cause of suspension. The savings deposits have been reduced to less than $40,000.
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Bank Failurei in Michigan. ansing, Mich., July 13.-The ple's Savings bank did not open doors this morning. The bank has 1 on the ragged edge for some 9. Rumors became rife Saturday rnoon about closing time that the 1k was unsound and a slight run LS perceptible. The directors volitarily sent for Commissioner Sherood and an agreement was reached chat the Michigan Trust company should be appointed receiver. The bank had a capital of $150,000. Its failure is due to the impossibility of realizing on its assets owing to the stringency of the money market and the gradual withdrawal of deposits.
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Run Causes a Failur_ Lansing, Mich., July 14.-The People's Savings Bank of this city failed to open its dears Monday and will go into the hands of a receiver. The bank is capitalized at $150,000. Failure to realize on its assets to meet constant withdrawals is given as the cause of the suspension. The savings deposits have been reduced to less thar $40,000.
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Rotten to the Core. Lansing, Mich., Dec. 12.-Receiver Foster, of the defunct People's Savings Bank, has filed his report with Circuit Judge Person, which shows that the institution was rotten to the very core. It is estimated that the depositors will receive 10 cents on the dollar, and this is considered a high estimate.
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Lausing, June 20.-Receiver - Foster of the People's Savings bank was today directed by Circuit Judge Person to commence suit in any court of the state against stockholders who have not paid a 70 per cent assessment levied some time ago for the benefit of depositors. All delinquents will be proceeded against at once,
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For Sale-Old, improved 80 acre farm, three miles south-east of Ovid. Known as the "Kenney Farm." Described as e ½ of ne ¼ sec 22, t 7 n, r 1 e. Must be sold. Possession given October 1. SEYMOUR FOSTER, Receiver People's Savings Bank, Lansing, Mich.
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For Sale-Old, improved 80 acre farm, three miles south-east of Ovid. Known as the "Kenney Farm" Described as e ½ of ne ¼ sec 22, t 7 n, r 1 e. Must be sold. Possession given October 1. SEYMOUR FOSTER, Receiver People's Savings Bank, Lansing, Mich.
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For Sale—Old, improved 80 acre farm, three miles south-east of Ovid. Known as the "Kenney Farm" Described as e ½ of ne ¼ sec 22, t 7 n, r 1 e Must be sold. Possession given October 1. SEYMOUR FOSTER, Receiver People's Savings Bank, Lansing, Mich.