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The suspension had no apparent effect upon other institutions of the city. During the morning hours not more than twenty depositors loitered about the bank. The last statement of the Fort Pitt National Bank to the controller of the currency was issued December 3.
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State Funds in Defunct Bank. Harrisburg, Pa., Dec. 6.-About $30,000 of the state's funds were deposited with the suspended Fort Pitts bank of Pittsburg, which closed its doors today.
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PITTSBURG BANK CLOSES DOORS Depositors Fully Protected-No Effect on Other Banks PITTSBURG, Dec. 6.-The Fort Pitt National bank of this city failed to open for business today. The notice on the door stated it was closed by order of the controller of the currency. The resources and liabilities are $5,500,000 and the individual deposits almost $2,000,000. President Andrew Herron of the bank said the depositors were fully protected. The suspension was precipitated by the occurrences of yesterday. The suspension bas had no apparent effect on the other institutions of the city.
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THREE BANKS CLOSE BIG FINANCIAL INSTITUTION OF PITTSBURG SUSPENDS. President of The Bank in a Statement to The Public Says The Depositors Are Fully Protected. Pittsburg, Dec., 6-The Fort Pitt National Bank of this city, failed to open for business this morning. a notice on the door announcing that "the bank was closed by order of the comptroller of the currency." It was signed by John B. Cunningham, National Bank Examiner, of this district. President Andrew Herron, of the bank, said to the Associated Press today: "The depositors are fully protected. The suspension was precipitated by the occurences of yesterday which made it necessary to close the bank for the protection of all concerned." The suspension had no apparent affect on other instituions of the city. During the morning hours not more than twenty depositors loitered about the bank.
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PITTSBURG BROKERS IN RECEIVER'S HANDS Whitney, Stevenson & Co. Are Forced to Discontinue Business. THE OLDEST IN PITTSBURG. COLONIAL TRUST CO. APPOINTED RECEIVERS FOR DEFUNCT CONCERN-FOLLOWED FAILURE OF FORT PITT BANK. Pittsburg, Dec. 7.-The Colonial Trus company was appointed receiver for the stock exchange firm of Whitney, Stevenson & Co., of this city. The house is the oldest and largest in the city. The failure was expected ever since the troubles of the Fort Pitt National bank became acute.
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BANK CLOSES ITS DOORS. Old Financial Institution at Pittsburg in Trouble. Pittsburg, Dec. 7.-The Fort Pitt National bank, one of the older financial institutions of this city, has failed to open for business. A notice posted on the door was signed by Bank Examiner John B. Cunningham and stated that the bank had been closed by order of the comptroller of the currency. The directors later issued a statement to the effect that a suspension of business was forced by the clearing house committee demanding that the bank immediately raise a large amount of cash, which under existing financial conditions it could not do without great sacrifice. The directors declare in unqualified terms that the institution is solvent, that depositors will be paid in full, and that the embarrassment is wholly due to the present stringent conditions in the financial world.
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BANK CLOSES ITS DOORS. Old Financial Institution at Pittsburg in Trouble. Pittsburg, Dec. 7.-The Fort Pitt National bank, one of the older financial institutions of this city, has failed to open for business. A notice posted on the door was signed by Bank Examiner John B. Cunningham and stated that the bank had been closed by order of the comptroller of the currency. The directors later issued a statement to the effect that a suspension of business was forced by the clearing house committee demanding that the bank immediately raise a large amount of cash, which under existing financial conditions it could not do without great sacrifice. The directors declare in unqualified terms that the institution is solvent, that depositors will be paid in full, and that the embarrassment is wholly due to the present stringent conditions in the financial world.
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Miscellaneous. A situation of the utmost and immediate danger exists at Goldfield, Nev., according to Gov. Sparks, who appealed to the president for United States troops. Thirty persons were recently drowned off the Brazilian coast by the sinking of a coasting steamer. The jury in the case of the state of Kansas against the Harvester trust, on trial at Topeka, returned a verdict against the company on 42 counts. Six hold-ups occurred in St. Joseph, Mo., recently in one night. The jury which will try George Pettibone for complicity in the murder of ex-Gov. Steunenberg at Boise, Idaho, has been secured. There occurred in one day at St. Joseph, Mo., recently 20 hold-ups by masked men, one murder and three suicides. What will probably prove the greatest disaster in the history of American mining occurred at Monongah, W. Va., recently when 400 miners were entombed by an explosion of black damp. Five badly injured men were taken from the mine immediately after the disaster, but all the others were believed to have been killed. The Milton family bible, printed in London in 1588 and containing the autograph of John Milton, dated in 1654, was recently sold in New York for $1,225. The National Bank of Commerce of Kansas City, the largest bank between St. Louis and San Francisco, closed its doors recently, and was placed in the hands of James T. Bradley, national bank examiner, by the comptroller of currency. Inability to realize on assets is given as the cause of failure. The Southwest Bridge company, a Joplin concern, one of the largest manufacturing plants in the district, has gone into the hands of a receiver. The State Bank of Admire, in Lyon county, Kan., has closed its doors. It had $28,000 in the failed National Bank of Commerce at Kansas City. The Fort Pitt National bank of Pittsburg, Pa., organized in 1859, has been closed by order of the comptroller of the treasury. In a rear-end collision on the Baltimore & Ohio railroad near Baltimore, three persons were killed and 20 others injured. The senate has confirmed the nomination of ex-Senator Blackburn of Kentucky to be a member of the Isthmian Canal commision. A bomb was recently exploded under the carriage of President Cabera of Guatemala, but he escaped with a few scratches and bruises.
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IS to $25,000,000. The average price $1.03. six surviving members of legis- the The Kansas territory free state celelature first met recently in Topeka that to his the semi-centennial of was brate torical gathering. A large crowd present. Rice hall, at Washburn college, fire, To peka, was recently destroyed by involving a loss of $100,000. The jury which will try the George murPettibone for complicity in Boise, der of ex-Gov. Steunenberg at Idaho, has been secured. There occurred in one day at St. Mo., recently 20 hold-ups three by masked Joseph, men, one murder and suicides. The Southwest Bridge company. largest a Joplin concern, one of the district, manufacturing plants in the receiver. has into the hands of a Lyon The gone State Bank of Admire, in It county, Kan., has closed its doors. National had $28,000 in the failed City. Bank of Commerce at Kansas The Fort Pitt National bank has of Pa., organized in 1859, been Pittsburg. closed by order of the comptroller of the treasury. the suggestion of Secretary ComAt the National Council of h Straus merce was organized at Washington composed recently. The body will be commercial representatives of the of the of bodies from the leading cities country. The comptroller of the currency condi- has called for a statement of the of the of the national banks De d tion country at the close of business on cember 3. : Tyrie L. Ford, an attorney,has been San acquited of a charge of bribery at d Francisco. the opening of the National Washing- RivAt and Harbors congress in by ers every state was represented and Har delegates ton as well as Alaska d e wail. Wichita, Kansas, defeated government the como mission plan of municipal by a vote of nearly 3 to 1. f E. V. Moorehouse, of St. Joseph, there e killed himself at his home A.P Mo., recently. Kis father, former Gov. in the Moorehouse, killed himself Mo., in same manner at Marysville, ) 1891. Ambassador Aoki has been sum- to n to Jupan by his government situation moned in detail the precise the Japaa explain in this country in regard to t nese immigration problem. of $ in the business heart of $750.a Property Texas, to the value fire. 000 Houston, recently destroyed by Kansas c was J. Groves, editor of the Woodward, a. H. who, with O. D. 1. president City Post, and manager of Gen. the paper, R. C. shot recently by wounds e Horne, were has died of his g first message of Gov. new state Haskell is the The first legislature of the orally to of to Oklahoma was delivered joint session at while the withest in Ken1 Leading horse breeders of new 1. have taken steps to form in a the o jocky tucky club to govern racing d west. The jury in the trial of Mrs. Bradley in y killed former Senator Brown In a e Washington who a year ago, brought crowd in verdict of acquittal. The e the court room when the jury reported t, r vigorously rear-end applauded. collision on the Balti2 In a & Ohio railroad near Baltimore, others more three persons were killed and 20 t. 1. injured. senate has confirmed the nom- of 1, The of ex-Senator Black burn Isth8 if !nation Kentucky to be a member of the mian Canal commision. n , bomb was recently exploied Cal un- ra A the carriage of President with a der of Guatemala, but he escaped 1. few scratches and bruises. d attempt to loot the savings shot it o In an at Salisbury, Mo., robbers the city and bank dangerously wounded away. marshal before being driven the o men succeeded in cracking Ok., le Five safe of the bank at Carney, safely a recently, coin securing $4,000 and o getting away. first message of Gov. Haskell both e The legislature was read to govn houses to the in joint session by the o ernor in person at Guthrie. fa. 1. o Congressman Scott of Kansas city. e prohibition for Washington should vors He thinks the nation's capital a set example to the country. f an electric wiring caused Defective at Fort Leavenworth which The de, IS stroyed fire a wing of the barracks. $15,000. 1. loss to the government is introduced 1,000 bills were of the e in Nearly the senate on the third day o present session. e n Mo., Six recently hold-ups in occurred one night. in St. Joseph, Congressional. e a Representative Atchison of resolution PennsylI has introduced a joint tax of vania house placing an annual in $1 the on every barrel of beer manufac-
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BANK CLOSES ITS DOORS. Old Financial Institution at Pittsburg in Trouble. Pittsburg, Dec. 7.-The Fort Pitt National bank, one of the older financial institutions of this city, has failed to open for business. A notice posted on the door was signed by Bank Examiner John B. Cunningham and stated that the bank had been closed by order of the comptroller of the currency. The directors later issued a statement to the effect that a suspension of business was forced by the clearing house committee demanding that the bank immediately raise a large amount of cash, which under existing financial conditions it could not do without great sacrifice. The directors declare in unqualified terms that the institution is solvent, that depositors will be paid in full, and that the embarrassment is wholly due to the present stringent conditions in the financial world.
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Miscellaneous. Government statistics show the average of winter wheat sown to be 1.9 per cent less than the are sown in 1906. The total acreag now growing is 31,069,000. A situation of the utmost and immediate danger exists at Goldfield, Nev., according to Gov. Sparks, who appealed to the president for United States troops. Secretary of State Root gave a dinner in honor of the delegates to the Central American peace conference. The jury in the case of the state of Kansas against the Harvester trust, on trial at Topeka, returned a verdict against the company on 42 counts. What will probably prove the greatest disaster in the history of American mining occurred at Monongah, W. Va., recently when 400 miners were entombed by an explosion of black damp. Five badly injured men were taken from the mine immediately after the disaster, but all the others were believed to have been killed. The Milton family bible, printed in London in 1588 and containing the autograph of John Milton. dated in 1654, was recently sold in New York for $1,225. The National Bank of Commerce of Kansas City, the largest bank between St. Louis and San Francisco, closed its doors recently, and was placed in the hands of James T. Bradley, national bank examiner, by the comptroller of currency. Inability to realize on assets is given as the cause of failure. The sale of tickets of admission to the United States is the latest form of swindle discovered by the immigration authorities. The jury which will try George Pettibone for complicity in the murder of ex-Gov. Steunenberg at Boise, Idaho, has been secured. The Southwest Bridge company, a Joplin concern. one of the largest manufacturing plants in the district, has gone into the hands of a receiver. The State Bank of Admire, in Lyon county. Kan., has closed its doors. It had $28,000 in the failed National Bank of Commerce at Kansas City. The Fort Pitt National bank of Pittsburg, Pa., organized in 1859, has been closed by order of the comptroller of the treasury. In a rear-end collision on the Baltimore & Ohio raflroad near Baltimore, three persons were killed and 20 others injured.
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de13-10t.56 Capital, $1,000,000-Surplus, $1,400,000. National BANK Riggs Issues drafts direct, available throughout the world. Issues letters of credit. Buys and sells exchange. Transmits money by cable. Makes investments for customers. Makes collections for customers. Buys and sells stocks and bonds. SPECIAL DEPT. FOR LADIES. Pa. Ave., opposite U.S. Treasury de12-28d Personal Letters are Business Getters. You'll get big returns from Personal Typewritten Letter advertising. Consult us now. 500 Typewritten Letters, $3. 1,000 Typewritten Letters, $4. 'Phone M. 2210. The Letter Shop, Rooms 708-709. Metropolitan Bank bldg., 15th st. opp. U. S. Treasury. Money at 5 Per.Cent LOANED ON D. C. REAL ESTATE. Heiskell & McLeran, 1403 H st. no30-tf "Make Assurance Double Sure." BE YOUR OWN BANKER THE REALTY APPRAISAL AND AGENCY COMPANY Will act as your FINANCIAL AGENT and place from $100 up on improved W A S HI GTO N REAL ESTATE and GUARANTEE you against LOSS in any event. You get all the interest and HOLD YOUR OWN SECURITIES. 1416 F Street. Incorporated 1899. W. J. NEWTON, President. E. M. GILLETT, Secretary. no30-90t,28 Private Wires to New York. CRIFFIN HALSTEAD & CO., Members WASHINGTON STOCK EXCHANGE, 1344 F STREET N. W. Telephones Main 462 and 463. INVESTMENT SECURITIES, STOCKS AND BONDS, CURB SPECIALISTS. MILLIONS PAID TOILERS. Increased Currency Payments in the Business District of Pittsburg. PITTSBURG, Pa., December 14.-A pay roll amounting to several million dollars was distributed today in the Pittsburg district. More currency than certificates was used, and the hope is expressed that the pay next week will contain a larger amount of cash. It is expected that Robert Lyons, a temporary receiver of the Fort Pitt National Bank, which recently suspended, will report definitely within a few days to the controller of the currency whether the bank should be permitted to reopen.
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RECEIVER FOR $6,000,000 GLASS COMPANY NAMED PITTSBURG, Dec. 20.-The National Glass Company, of this city, today passed into the hands of a receiver, W. F. Knight, cashier of the suspended Fort Pitt National Bank, being named receiver. The company has a capital stock of $4,000,000 common and $1,650,000 preferred. Of this $1,479,625 common and $1,311,150 preferred is outstanding. A. W. Herron, who was president of the Fort Pitt Bank, is president of the glass company, but G. I. Whitney, of the failed brokerage firm of Whitney & Stephenson, is understood to have controlled the concern. Little comment was occasioned by the receivership, as it had been expected.
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# National Glass Company in Receiver's Hands. Pittsburg, Pa., Dec. 21. -The National Glass company of this city yesterday passed into the hands of a receiver, W. F. Knight, cashier of the suspended Fort Pitt National bank, being named. The National Glass company has a capital stock of $4,000,000 common and $1,650,000 preferred.
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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guiltv of embezzlement. 4-First National bank of Scotland, S. D., close by bank examiner. 8-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, : Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 2-First National bank of Hicksville, O., closed by comptroller of currency. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Rece vers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 10-H. D. Reynolds' bank of Valdez, Alaska, closed doors. 15-First National bank of Dresden, O., failed. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. 6-Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 -Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 77-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg, closed. 17-Jewelers' National bank at North Attleboro, Mass, in hands of receiver.
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Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. $-F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. 25-Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. II-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. It-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.; failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. I9-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 1-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities; call money at 70 per cent. 1-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking Institutions in New York closed doors. Union Trust Co., of Providence, R. 1., suspended. 26-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. IS Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2-Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 3 -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg. closed. 17-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.
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FINANCIAL Jan. 21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. B-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. 26 Disappearance of $173,000 from subtreasury at Chicago made public. Mar 14-Virtual panic In Wall street: Secretary Cortelyou relieved the situation. -Citizens' State bank of Firth, Neb., closed by state. as Corbin Banking company of New York, assigned; assets, $3,000,000: liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw. Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19 Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America. of which he Was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 6-Fort Dallas National bank of Miami, Fia., closed. 20-Farmers' National bank of Boyertown. Pa., ordered closed. AUG. 3-People's State bank of Brownstown. Ind., closed by state authorities It-Receivers appointed for Pope Mtg Co., of Hartford, Conn.: failure ascribed to stringency of money market Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade. failed. Oct. 9 Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16 Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 10-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York, Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. -Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State and Trust Co., of Carson, Nevada failed Three winor banks in New York to forced close Houthern any stuntary ution m bankruptcy 25 25-Six more minor banking institutions In New York closed doors Union Trust Co., of Providence, R. 1., suspended. Banks In New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 80 California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country 12 Merchants' National bank of Portland, Ore., California bank of Oakland, Cal. and Farmers' & Merchants' bank of Sapulpa, I. T., suspended. 18 Secretary of Treasury Cortelyou ordered Issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financlal situation City National bank of Frederick, Okla., falled. 27 American Silk Co. capital stock, $11,000,000. which operated mills in several cities, placed in hands of receiver. Dec. 3 Chelsea Savings abnk of Chelsea. Mich,, owned by State Treasurer Glazier, closed. 5 National Bank of Commerce, one of largest financial Institutions of Kansas City, suspended. closed. Fort Pitt National bank of Pittsburg, -Jewelers' National bank at North Attleboro, Mass., in hands of receiver.
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WILL TAKE TRIP TO COAL FIELDS Expected Party Will Reach This City Thursday Evening-They Deciine to Discuss Plans of Road at This Time. Santa Fe, N. M., July 7.-Much interest was manifest here today when the stockholders in the New Mexico Central railroad held their annual meeting and selected the following board of directors: Harrison Nesbit, C. C. Murray, John B. Finley and General Francis J. Torrance of Pittsburg; W. S. Strickler and Col. W. S. Hopewell of Albuquerque and Charles F. Easley of Santa Fe. The directors immediately elected Mr. Nesbit president of the road; C. C. Murray secretary and treasurer; and H. A. Comer auditor. If any changes are contemplated in the operating force of the railroad, they were not made public at the meeting today. Mr. Nesbit, the president is the vice president of the Bank of Pittsburg and in charge of the active work of the institution. Mr. Finley and Mr. Murray are also bankers and coal operators in Pittsburg. Mr. Murray is at present receiver for the Enterprise and Fort Pitt banks. All are reputed to be men of wealth. The directors and outers interested in the road will leave here tonight or tomorrow for Moriarity and the Hagan coal fields. They will theroughly inspect the big coal property and expect to reach Albuquerque by Thursday night. Members of the directorate declined to discuss the future of the New Mexico Central railroad. saying that they were not prepared at this time to make an announcement. Law Files Suit. As a sequel to the stockholders' meeting of the New Mexico Central, which resulted in President Robert Law being superceded, Law this afternoon in the district court filed a suit for $50.000 damages against the New Mexico Central and Francis J. Torrance of Pittsburg, Pa., alleging breach of contract.
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INTERVENORS APPEAR IN SUIT AGAINST RAILWAY. Make Allegations Against New Mexico Central at Santa Fe-Fin and Feather Club Incorporates. Santa Fe, N. M., May 9.-N. C. Hunter and John McGiashan of Pittsburg, Pa., have intervened in the suit of the Independent Steel & Wire company vs. Central Railroad company, and ask for the removal of Charles C. Murray as receiver of the railroad company. The intervenors allege claims of $12,000 against the railroad company, and also make sensational allegations as to the financial transactions of the road and as to the appointment of receiver Murray, who is also the receiver of the Enterprise and Fort Pitt National banks, at Pittsburg. The Fin and Feather club of Roswell, Chaves county, has filed incorporation papers, the capitalization being $25,000. The incorporators and directors are H. P. Saunders, George P. Jewett, B. H. Bassett, W. A. Johnson, J. E. Rhea and John T. McClure.
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BANK WHICH FAILED PAYS BIG DIVIDEND The creditors of the Fort Pitt National Bank of Pittsburg, having been paid in full and the shareholders having been elected to continue the receivership in their own interests, the Comptroller of the Currency today declared the first dividend to shareholders. The dividend was 10 per cent, and the payment amounted to $100,000. The bank failed December 7, 1907.
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LOCAL FINANCIAL GOSSIP. With practically every member present, and trading brisk from the first tap of the gavel to the close of the hour, yesterday's session of the Washington Stock Exchange showed a final record closely approaching the normal. The aggregate total for the stock list was 386, a marked advance over the transactions of the previous day, and ahead of the record for the same day last year. The bond list tradings totaled $7,900 in four securities, two of which had lain dormant for many weeks. Bidding was spirited in several others of the bond listings, and while the transactions in themselves were not impressive, it may be said that a general upward trend is evident. Traders are generally optimistic regarding the present status of the exchange listings. The opening of the fall was certainly not impressive, many sessions merely serving little more than to drone through the call. Days on which the total transactions of an exchange in a city of the size of Washington do not go above twelve in the stock list and $1,500 in bonds cannot be explained by declaring them periods of momentary stagnation. Such a session as yesterday's therefore, not only reflects the true tone of the market here, but serve to instill confidence in prospective investors as to the expectations of disposing of their holdings without delay should they wish to place their money elsewhere. Washington Gas was easily the largest trader of the day. In total, 280 shares changed hands, or a fraction more than two-thirds of the grand total for the session. The market for Gas was well sustained. The close of the trading in nowise indicated that the supply was exhausted. The first six lots sold, aggregating 150 shares, went at 78½, when three lots jumped the fraction to %, and 7/8 for a five-share lot. After call fifty shares went at the old price. The bidding continued at this figure, with no offers. The holders eventually demanded the 5/8, but the fractional difference prevented any further trading. Certificate 6s sold to the sum of $400 at an eighth above par, but there was little additional demand or offer. The bond list transactions were interesting, in that two securities hardly noticed for months suddenly awoke to participate in the trading. Washington Market Cold Storage 5s sold in the sum of $1,500 at half a point below par, and $5,000 Emerson Steam Pump 6s brought 95 in each of the three transactions. The 1927 and 1947 Washington Market 5s were listed in the bidding for the first time in several weeks, par being bid for each. Holders offered at 5½ and 61/2, respectively. The type machine stocks held up fairly well. No Mergenthaler was sold, although the bidding was brisk. Several brokers offered 2241/2 for the stock and one rose to 225, but the holders shoved the asking figures up to 226, and no trading resulted. As predicted in this column some days ago, Lanston is steadily gaining in activity, and the quotations would have held up well yesterday had it not been for a considerable amount of the stock being thrown on the market without more than ordinary demand. As it was, the stock sold in several lots at 87%, and the half, with a ten-share lot, at 88. Toward the close of the session, however, the bidding fell down to 86, with the offering at a half point above. The general impression remained that the next few days would see both type machine stocks reach higher figures than have SO far been recorded. Bank stocks were active throughout the session, although few sales were recorded. American National sold in two lots of ten at 170, with the closing bid a point and,a half below. The stock was offered at the close at 170. On Commercial, one broker ran the bid from 195 up to 200 without results, and the closing quotations were at the old bid figure, with the offer at 203. At a recent meeting of the Mutual Protective Fire Insurance Company of the District of Columbia the following officers were elected: James G. Hill, president: Claudius B. Jewell, vice president: James E. Fitch, secretary and treasurer, and William A. Johnson, assistant secretary and treasurer. William A. Johnson was elected a trustee to fill the vacancy occasioned by the death of James L. Norris. An application was made to the Comptroller of the Currency yesterday by C. D. Foss, jr., of 1524 Chestnut street, Philadelphia, and other citizens of Philadelphia, to organize the West Philadelphia National Bank, with a capital stock of $200,000. The application was approved. 6 The Comptroller of the Currency announced yesterday that the Fort Pitt National Bank, of Pittsburg, which was placed in the hands of a receiver December 7, 1907, had not only paid creditors in full, with interest, but the stockholders having continued the receivership to liquidate the trust will now receive 10 per cent on their claims, or approximately $100,000.