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national
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Three Banks Fail Newport, Ky., Jan 18.-The First National Bank failed to open this morning to the surprise of the business men. A run is anticipated on other banks. Louisville, Ky., Jan 18.-The Ger man National Bank was closed today by the National Bank Examiner. The capital is $270,000. St. Paul, Jan 18.-The Minnesota State Savings Bank closed this mornidg.
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and Quit to save ME Ky., January Louisville, this 18.-Na- morntional Bank Examiner Scott the doors of the German'NaJ. M. McNight, president. tional ing closed Bank, institution The capital stock of the is with a surplus of $31,000. The is an old one, but for some time $251,500, bank unsafe. past has been regarded as The last statement issued by the bank, December 17. 1896, made a very bad showing. The figures showed that the 25 per cent. rule had been violated by about 8 per cent. Under the head of resources it was given out that the bank had $113,025.29 in securities, stocks, etc. This was very unsatisfactory as the "etcetera" was not considered definite enough and since the statement was issued the withdrawals been steady. of the bank, for years identified with Night, have prominently President the has bank- been Mcing and involved in a number business operations. of outside financial In a signed statement President McNight says that depositors will be paid the in full and it is probable that stockholders will reorganize the institution. Newport, Ky. January 18.-The New- failure of the First National Bank of was to open doors this morning to the business of port great surprise statement men given the a city. While a was the officers that no one would of there were all the lose out by anything, Fortunately sorts rumors flying about. of the officers is no of wrong doing integrity suggestion such has of that weak- found credence. The first evidence was the refusal of the officers to ness on Saturday afternoon $5,000 board. to the treasurer pay of the Bellevue school which it had but recently deposited he and which he had been advised made ought to get out. This was not public till to-day. Cashier T. B. Youtsey has been 1875. with bank since its organization in $200.stock of the bank is viceThe the capital Trapp; 000. Its president is John president Joseph Wright. President in who was elected last week retired Trapp place of Dr. Henry Gunkel, who of advanced years, is a res- the of Ky., and is one ident on account Dayton, county. of wealthiest men in the O., January the exis created in Cincinnati the eitement CINCINNATI. Most 18.-No by of Ky., bank failure. the here claim to have known been in a straightened banks bank Newport, has President condition that some time. It is said that who was elected is sick at home in seen. John last for week. Trapp. consequence president be of the failure. and cannot and, Cashier Youtsey is also indisposed. in fact. none of the officer3 can be seen. of Mr. Trapp is said to have a deposit $15,000 in the bank, to hold $11,000 of stock. to to be endorser for Cashier Youtsey and the amount of $60,000. Congressman Berry bealso has a large interest in the banw. in ing interested with Cashier Youtsey a land company. It is charged that causes heavy loans to Youtsey are among the of the failure. ST. PAUL. Minn., January -The its Minnesota State Savings Bank closed of doors this morning and filed a deed assignment. naming William Bickel as that assignee. An affidavit was filed stating would amount to about $250,000. the liabilities are in bank $230,000. The officers of the cirhood the while assets of the neighbor> the this step the best under The to protect the caused cumstances deemed recent flurry depositors. affairs in banking extent withdrawals of deposits to such an sixty that although the bank required the raise days' notice. it was unable to enough ready money to meet demands. BOSTON, January s.-The Boston stock and grain exchange. with officers in nearly closall th eprincipal New England cities. will ed up business to-day. The creditors suffer. it is said. not Poor business rersulting from the finan- given cial depression of the past year business. is A the cause of cessation of as in the market last week is said to have is rise precipitated the action. The exchange its capMassachusetts corporation. with business a ital all paid in. and has been doing of the several years. The members simply for announce that the libilities are of and tha tby prompt been further indebtedness settled. firm operations normal suspension be has avoided and all the claims can has been of the stockholders A meeting the first Monday in February, called when the for affairs of the corporation will be definitely WATERLOO. settled. Ind.. January 18.-H. al- N. the Garrett banker and arrestwho has been leged CoMmberry. embezzler, grand twice jury during the past week on central inde and who has been the of dictments, in the financial complications of gfiure county. died early this morning this failure. There were five indictments heart against him. which caused his arrest last he Saturday. and late Saturday evening released on $7,000 bond. was COLUMBUS O., January 18.-The Co- the lumbus Cabinet Co. has gone into hands of Charles R. Wheeler ,as receiver. $30,000: assets said to be $90,000. due. but Liabilities, money is wanted to pay claims NEW YORK, January 18.-The failure on Louis Nellson has been announced The of Consolidated Stock Exchange. the is considered unimportant and and is suspension attributed to being short of Sugar St. Paul. CINCINNATI, O., January 18.-T.J. McNamara. Sr., doing business as the Phoe- to Carriage Works, assigned to-day $40,000; nix Robert Ramsey. The assets are liabilities the same. IDALO SENATORSHIP.
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STOCKHOLDERS TO SUFFER. Louisville, Ky., Jan. 20.-Judge Toney this afternoon appointed Charles F. Taylor receiver of the Germania Safety Vault and Trust company. Suit for the appointment was brought by Herman Wille and A. M. Emler, who allege a violation of the charter. The stock of the trust company is all practically owned by the stockholders of the suspended Germania National bank. It is now said the stockholders of the bank will have to be assessed to pay depositors in full. Trust company capital stock is $200,000.
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A WARRANT FOR M'KNIGHT. President of the German Bank Had Violated the Banking Laws. Louisville, Ky., Jan. 20.-National Bank Examiner James Escott, this afternoon, swore out a warrant for the arrest of James M. McKnight, president of the German National Bank, which was closed Monday by order of Controller Eckles, The warrant charges a violation of the national banking laws. Mr. McKnight was also president of the Germania Trust and Safety Vault Company, for which a receiver was appointed to-day.
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Bank President Arrested. Louisville, Ky., January 21.-James M. MoKnight, president of the suspended German national bank, for whom a warrant was issued on the charge of falsifying accounts, surrendered himself this afternoon.
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A Bank Receiver. WASHINGTON, D. C., January 22.Comptroller Eckels has appointed R H. Courtney, receiver of the German National bank at Louisuille, Ky., which recently failed.
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Receiver Appointed. WASHINGTON, D. C., Jan. 22.Comptroller Eckels has appointed R. H. Courtney, receiver of the German National bank of Louisville, Ky., which recently failed.
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BANK RECEIVER APPOINTED. Washington, Jan. 22.-The comptroller of the currency has appointed Robert A. Courtney receiver of the German National bank at Louisville, Ky.
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Eckels Names a Receiver. Louisville, Ky., Jan. 22.-Comptroller Eckels has appointed Robert H. Courtney receiver for the suspended German National bank. Mr. Eckels says that a part of the deposits appearing on the bank books are fictitious. The comptroller has declined to forward President McKnight papers for a reorganization and says the arrested bank officers shall have nothing more to do with national banks. Mr. Eckels also says that McKnight had been elected president against his warning.
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Courtney Misde Receiver, WASHINGTON, Jan. 22.-The comptroller has appointed Robert A. Courtney receiver of the German National Bank at Lonisville, Ky.
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Refused Right to Reorganize. Louisville, Ky., Jan. 23.-Comptroller Eckels has appointed Robert H. Court ney receiver of the suspended German national bank. Mr. Eckels urges that a part of deposits appearing on the banks books are fictitious. The comptroller has declined to forward President McKnight papers for a reorganization and says the arrested bank officers shall have nothing more to do with national banks. Mr. Eckels also said that Mc Knight had been elected president against his warning.
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McKnight Arrested. Louisville, Ky., Jan. 21.-James M. McKnight, president of the suspended German National bank, for whom a warrant has been issued on the charge of falsifying accounts, surrendered to United States Marshal Blackburn at 1:30 p. m. today.
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McKnight Arrested. Louisville, Ky., Jan. 21.-James M. McKnight, president of the suspended German National bank, for whom a warrant has been issued on the charge of falsifying accounts, surrendered to United States Marshal Blackburn at 1:30 p. m. today.
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Receiver Appointed. Washington, Jan. 22.-Comptroller Fekels has appointed R. H. Courtney receiver of the German National bank of Louisville, Ky., which recently failed
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Bank President Indicted. LOUISVILLE, Ky., Feb. 1.-It was stated at the United States district at. torney's office that an indictment was prepared against President J. M. MeKnight of the suspended German national bank, and that it would contain five counts.
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Bank Officers to be Arrested. LOUISVILLE, Ky., Feb. 19.-The greatest secrecy Is maintained by Bank Examiner Escott and Receiver Courtney regarding the affairs of the German National Bank. but warrants are expected to be issued for other officials of the bank. President McKnight is still in custody. being unable to furnight the $12,000 bond, The connection between Courtney and the Indicted alderman is expected to result in further and more sensational Indictments against other city officials.
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Great Secreey Maintained. Louisville, Feb. 20.-The greatest secrecy is maintained by Bank Examiner Escott and Receiver Courtney regarding the affairs of the German National bank, but warrants are expected to be issued for other officials of the bank. President McKnight is still in custody, being unable to furnish the $12,000 bond.
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" " Rah For McKinley." Louisville, Ky., March 9.-The Germania Safety Vault and Trust company made an assignment this afternoon. The failure was caused by the suspension of the German National bank, in which the Trust company was a large depósitor. The capital stock is $200,000. The last statement placed the assets and liabilities at $271,130 each. It is thought that stockholders will realize 50 cents on the dollar.
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3. Must Pay the Bond. LOUISVILLE, Ky., May 5.-The jury in the suit of Receiver Courtney, of the German national bank, against the Fidelity Deposit Co. on J. M. MeKnight's bond for $10,000, returned a verdict Wednesday afternoon awarding the plaintiff the full amount. MeKnight was convicted last fall of embezzling $48,000 from the bank. He was president.
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Must Pay the Bond. LOUISVILLE, Ky., May 5.-The jury in the suit of Receiver Courtney, of the German national bank, against the Fidelity Deposit Co. on J. M. McKnight's bond for $10,000, returned a verdict Wednesday afternoon awarding the plaintiff the fall amount. McKnight was convicted last fall of embezzling $48,000 from the bank. He was president.
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SUMMARY OF THE LATEST NEWS. Domestic. Receivers for the National Asphalt Company and the Asphalt Company of America filed in court at Trenton, N. J., reports stating that they have made progress in reducing expenses by consolidating the underlying companies. During a controversy over a board bill James Masterson fatally shot M. P. Brittingham, proprietor of the Hotel Bratt. in Manchester, O., and then killed himself. Brittingham was shot three times. It was reported in Philadelphia that the Reading. the Baltimore and Ohio, and other Eastern railroads will follow the example of the Pennsylvania and increase the salaries of employes. The Anthracite Strike Commission began the hearing of evidence in Scranton, Pa., President Mitchell reading a long satement and then taking the witness stand. Col. Edward Butler, the millionaire politician of St. Louis, was convicted of bribery in Columbia, Mo., and sentenced to three years in the penitentiary. In the American Federation of Labor Convention yesterday at New Orleans a number of resolutions bearing upon labor conditions were introduced. The Methodist General Missionary Conference. in session in Albany, N. Y., made appropriations for the various missions in China and Korea. The Central National Bank of Boston closed its doors as a result of impaired assets. The failure had no effect in financial circles. William Becker, who sent threatening letters to a number of wealthy men in New York. was arrested on the charge of blackmail. One hundred and ten Presbyteries have thus far voted for revision of the creed, none having voted the other way. Superintendent Pratt. of the Carlisle Indian School. submitted his report to Indian Commissioner Jones. The twenty-second annual convention of the American Federation of Labor opened in New Orleans, and President Gompers, in his annual address, warned the members of the dangers of the conflicting claims of jurisdiction made by different bodies. Four men were killed and 40 more or less inured by the explosion of a large boiler in a scrap puddle furnace at the American Iron and Steel Manufacturing plant at Lebanon, Pa. Frank C. Andrews, the convicted vicepresident of the wrecked City Savings Bank of Detroit, Mich., was taken to the Jackson State Prison to begin serving his 15 years sentence. Mrs. Tingley has appealed from the decision of the board of inquiry in New York to deport the Cuban children designed for the Buddhist home at California. J. W. McNight, former president of the defunct German National Bank of Louisville, Ky., was sentenced to six years in the penitentiary for embezzlement. The grand jury of Freehold, N. J., has not yet indicted Laura Biggar on account of any charge growing out of her alleged marriage to Millionaire Bennett. A young woman ,in whose possession was found a watch chain stolen from one of the murdered Boston women, is likely to prove an important witness in the case. The General Missionary Conference of the Methodist Episcopal Church at Albany, N. Y., decided not to admit the secretaries of conferences as members. The coroner's jury held Charles Cawle-- of Homestead. Pa., responsible for the murder of his mother and four brothers and sisters. Rev. James Hill, a Marylander by birth, and senior member of the Indiana Conference of the M. E. Church, died at the age of 83.