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national
264a967e3e82d3c3Capital injected, Full suspension, Books examined
Other: Comptroller appointed a receiver (receivership). Later a resumption plan was arranged: depositors were asked to accept 6% certificates in lieu of balances (installment payback) and the bank reopened with capital and high cash reserves.
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FINANCIAL FAILURES. A Run on Helena, Montana, Banks Today. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. A run is in progress on the other banks. The run is new confined principally to the Merchants' National, which claims to be able to stand. The closed
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Helenn Banks Closed. HELENA, MONT., July 27.-The First National and Montana National banks failed to open this morning. A run is now in progress on the other banks of the city.
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Helena Banks Suspend. HELENA, Mon., July 28.-The First National bank and the Montana National bank suspended. The First National had average deposits of $3,250,000 and the Montana National $1,500,000. Both banks have ample assets and will pay in full. A run is in progress on all *the other city banks. The banks are confident they can stand any run and are paying cash promptly.
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Bank Failures at Helena. HELENA, Mont., July 27.-The First National bank and the Montana National bank have suspended. The First National had deposits of $3,250,000 and the Montana National $1,500,000. Both banks have ample assets and will pay in full.
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Helena Banks Suspend. HELENA, July 27.-The First National bank, of which ex-Gov. Samuel T. Hauser is president, and the Montana National bank, of which John T. Murphy is president, suspended payment this morning. C. W. Cannon, A. M. Hoiter and 8. C. Ashby, leading capitalists, have made personal assignments.
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JOTTINGS ABOUT TOWN. Francis Lynoh satisfied A mortgage to J. D. Tietjen yesterday for $1,000. Alice, the 11 months old daughter of City Marshal W. H. McCann, died yesterday. M. Lyden filed a lien veaterday against the Montana club for $920.97 for lathing work. W.G. Schoppe will speak at the Congregational church Sunday evening on "The Sabbath Question, or How Moses Prevented Hard Times." A mortgage was filed with the county clerk yesterday by Winona Manheim et conjux, of Helena, to Edward Wagner, of Helena. for $1,700, on two lots, Northern Pacific addition. The Union Pacific has for free distribution a number of beautiful and useful folders covering every section of country reached by its lines and many portions it does not penes ate. There will be an informal reception at the Montana olub to-night. Members and their friends will undoubtedly avail themselves of the opportunity to inspect the Montana's new club house. The following lode locations have been filed with the county clerk: Montana, Stemple district, by Edward Boyer; Oro Primo. Mountain Queen and Sunset, on Wolf creek, by O. C. Mortson. To-morrow evening at St. Paul's church Rev. J. Wesley Hill will deliver a lecture on "Hard Times, Bank Failures, and the Folly of 'Runs' on Them." His prelude will be on "A Bird's Eye View of the World's Fair." The following transfers were filed with the county clerk yesterdav: Beroni Steele to Herman Krooll. lot 6, block F. Blake addition. $2,250; Salley Viley Bell of sonjux to Clara M. Pickett, lot 9, blook F. Blake addition, $6,500. E. T. Wilson, the national bank examiner, returned from Great Falls yesterday. Acting under instructions from the coin troller Mr. Wilson and A. W. Lyman took charge of the First National and the MonBANA National banks. The similarity of names has led some people to suppose that the Montana Savingo bank has suspended. It is the Montana National that is temporarily embarrassed; the Montana Savings bank is open and doing business at the old stand. H. Collins, manager for Ike Hayes, has returned from Great Falls, where he has ) been for three days trying to make a match 8 between Hayes and Carroll, "the soldier." They could not agree on the time. Carroll wants no least two months to train in. Hayes wants to fight in a month. A dispatch from South Bend. Ind.. last / night says William Swendeman. of Helena, 1 rode fine at the International Bicycle meet1 ing. but did not get first any time, being too heavily handicapped. In the five mile 1 race he had to give 400 yards. He rode the 8 first three miles in seven minutes and the a quarter in thirty-four seconds. Auderson s rode the mile race in 3:37 and got first place.
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A Run on in Helena. HELENA, Mont., July 28.-The First National and Montana National banks have failed to open and a run is now in progress on the other banks of the city.
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Receivers of National Banks. The controller of the currency has appointed Jeremiah Mahoney receiver of the First National Bank of Ouray, Col., and Thomas A. Marlow receiver of the Montana National Bank of Helena, Mon.
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Receiver of the Montana National. WASHINGTON. Aug. 2-Thomas A. Marlow was to-day appointed receiver of the Montana National bank at Helena.
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Receivers For National Banks. WASHINGTON, Aug. 3.-The comptroller of the currency appointed receivers of national banks as follows: Jeremiah Mahoney, receiver of the First National bank of Ouray, Colo.: Thomas A. Marlow, receiver of the Montana National bank of Helena.
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Receivers Appointed. WASHINGTON, Aug. 2.-The comptroller of the currency today appointed receivers of national banks as follows: Jeremiah Mahoney. for the First National Bank of Ouray, Col.; Thomas A. Marlow, for the Montana National Bank of Helena, Mont.
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PORTLAND BANKS AFFECTED. The Oregon National and Northwest Loan & Trust Co. Fail. PORTLAND, Oregon, July 27.-The Oregon National bank and the Northwest Loan & Trust Company, an allied institution, failed to open their doors this morning. A notice posted on the doors says the suspension was forced by the withdrawal of deposits and an inability to realize on securities. The suspension caused but little excitement and there is no apparent increase in withdrawal of deposits in other banks. George B. Markle, president of both banks, says the cause of the suspension is fully set forth in the notice posted on the doors. While not able to give an exact statement he could state that depositors will be paid in full. The statement of the Oregon National, published July 12, shows the bank's assets to be eight hundred thousand dollars, deposits four hundred and fifty thousand, surplus fund forty thousand, undivided profits eleven thousand. The bank has a capital stock of two hundred thousand. The Northwest Loan & Trust Company has a capital stock of two hundred and fifty thousand. No statement is yet made of its assets and liabilities, which are mostly savings deposits. The chief creditor of the Oregon National is Multnomah county, the deposit of which amounts to about three hundred thousand dollars. The Oregon National also held some of the city money. Owing to the absence of the city treasurer the amount is not definitely ascertained, but it is thought it will reach twenty-five thousand at the least. The Northwest Loan & Trust Company made an assignment J. L. Hartman. The statement filed shows the assets to be eight hundred and sixtyfive thousand, and the liabilities about six hundred thousand. Two Banks in Helena. HELENA, Mont., July 27.-The First National and Montana National banks failed this morning. The other banks are standing the run well. The failed banks are among the oldest and strongest in the city. Both had ample assets, but could not realize fast enough. In a Receiver's Hands. HARRISBURG, Pa., July 27.-The American Tube and Iron Company, with plants at Middletown, Pa., and Youngstown, o., employing 2000 persons, has gone into the hands of a receiver. One in Kentucky. MIDDLESBORO, July 27.-The First National bank failed this morning. No statement of its assets and liabilities are given out. New York Stock Market. New YORK, July 27.-Stocks opened feverish, though some stocks received better support than of late. Temporarily Suspended. EXETER, N. H., July 27. -The National Granite State bank temporarily suspended this morning.
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A Run at Helena, Mont. HELENA, Mont, July 28.-The First national and Montana national banks failed to open this morning. A run is now in progress on the other banks.
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Bank Failures in Helena. HELENA, July 27.-The First National and Montana National banks suspended payment today. There was a slight run on the Merchants' National, but the funds were ample to meet it. and no other banks were troubled at all.
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MAY RESUME ON DECEMBER 1. The Montana National Bank Makes a Proposition to Depositors. Special Dispatch to the Standard HELENA, Sept. 17.-The Montana National bank. which suspended on July 26. last, is sending out circulars to depositors announcing that it will resume on or before December 1. next. The circulars are signed by a number of heavy depositors, who have agreed to take certificates bearing interest at 6 per cent. in place of their book accounts. The certificates are payable in five equal installments. the first on June 1, 1894, and the last on October 1, 1835. All depositors are requested to accede to these terms and it is believed they will. Comptroller Eckles has given the bank permission to open on these terms.
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DEPOSITORS ACCEPTING. Montana National Bank Customers Agreeing to the Resumption Plan. The plan of resumption presented to the depositors by the directors of the Montana National bank is going to meet with almost unanimous approval if the responses received up to last night are a fair oriterion. The notices detailing the plan were only sent out Saturday night, and all day yesterday depositors were calling at the bank and leaving their signatures aocepting the plan. In addition, large numbers were received by mail. An INDEPENDENT reporter called on Receiver Mariow last night, and in reply to a question as to how the depositors were taking to the offer, be said that so far depositors representing nearly $150,000 had signed, and they had as yet heard from no one outside of the city. The plan is for depositors to accept in lieu of balances, with accrued interest to Aug. 1, 1893. certificates of deposit, bearing date and interest from Aug. 1, 1898, at the rate of six per cent per annum, payable in five equal installments of 20 per cent each. The first installment payable June 1, 1894; the second installment payable Oct. 1, 1694; the third installment payable Feb. 1. 1894; the fourth installment payable June 1, 1895; the fifth installment payable Oct. 1, 1895. Depositors who talked about the plan yesterday, said they considered it a very good one, especially as the directors did not intend to borrow any money to carry it out. In case the bank remained in the hands of the receiver it was not considered p obable that it would pay out in A8 short time as it would under the plan proposed, and in addition, if the depositers accepted the offer, they would receive interest on their balances, which they would not if the bank did not resume.
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The Montana National bank of Helena, which suspended on July 26 last, has sent out circulars to the depositors announcing that it will resume on or before December 1, next. The circulars are signed by a number of heavy depositors, who have agreed to take certificates bearing interest at 6 per cent, in place of their book accounts. The certificates are payable in five equal installments, the first ou June 1, 1894, and the last on October 1. 1895. All depositors are requested to acceed to these terms and it is believed they will. Comptroller Eekles has given the bank permission to open on these terms.
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RESUMPTION day for the suspended banks will be a red-letter day for Helena. It will mark the beginning of better times. Will the depositors hasten that day, or will they retard it? The Montana National bank has made the first offer of a plan of resumption. Upon its prompt ratification depends its success. Will the depositors act favorably and act at once? Why delay the good times?
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TREASURY DEPARTMENT. OFFICE OF THE COMPTROLLER OF THE CURRENOY. WASHINGTON. D. C.,Sept. 15. 1893. NOTICE IS HEREBY GIVEN TO ALL PKRSORE who may have claims against "The Montana National Bank of Helena" Montana. that the same must be presented to Thomas A. Marlow. receiver, with the logal proof thereof, within three months from this data or they may be disollowed. JAMMS M. BOKELL
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TREASURY DEPARTMENT. OFFICE OF THE COMPTROLLER OF THE CURRENCY. WASHINGTON. D. C.,Sept. 15. 1893. NOTICE IS HEREBY GIVEN TO ALL PERsome who may have claims against "libe Montana National Bank of Helena" Montana that the same must be presented to Thomas A. Marlow. receiver. with the legal proof thereof. within three months from this data or they may be disallowed. JAMYS the MOKELA.
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THE TRIBUNE is glad to announce the fact this morning that the Montana National bank of Helena will open its doors to the public next Monday morning. This will be good news to everyone in Montana, and it is hoped that it may soon be /recorded that all the other suspended banks of the state have resumed.
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NOTICE. A. A Campbell is the only authorized traveling agent of this paper. THE WEATHER. Reported for THE INDEPENDENT daily by J. M. Sherier. United States observer. 6 P. M. 6 A. M. 29.6z3 29.681 Barometer 86.2 34.5 Temperature w-22 calm Wind Total precipitation for past 24 hours ending at 6 p. m., .45. Temperature at noon. 44.1. Maximum temperature, 44.1. Minimum temperature, 33.0. Local forecast for Helena: Fair: colder. Helena, Lec. 10, 1893. WITH OPEN DOORS. The opening of the doors of the Montana National bank to-day will brighten many faces and bring new hope and confidence to the community. The conditions under which the bank resumes, with three dollars on hand for every dollar of its liabilities, will at once restore it to popular confidence and favor. The officers and directors are not alone to be congratulated; they deserve the thanks of the community for their faithful and arduous efforts which have been crowned with well merited success. In the retirement of President Murphy the Montana National loses a strong business man, but in his successor, Mr. Thomas A. Marlow, it gains the services of an able, energetic and progressive young business man whose successful administration of the receivership stamped him as the right man for the place. The executive capacity he has shown in the trying work of the past four months is the best guarantee that he is the right pilot now. A long life, and a prosperous one, to the Montana National!
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The Montana National bank, of Helena, which suspended last July, reopened Monday with $500,000 capital stock and cash to three times the amount of its demand liabilities.
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HELENA BANKS. A Startling Rumor That Many of Them Were on the Verge of Collapse Is Denied. (Special to The Herald.) BUTTE, Mont., Oct. 26.-The startling rumor that several additional banks in Helena were on the verge of collapse was circulated in business circles today, but the following special received in Butte this evening indicates that the runs on the banks is not so serious as reported: "The run on the Merchants' Nationl bank, which began last week, has almost abated, and the institution is meeting every demand, and claims it will hold out till every depositor is paid in full. The Montana National had a little run for a day or two, but as the depositors soon found out it was invulnerable, and had more money than depositors could possibly call for, they soon got tired and quit. The trouble all grew out of the distrust created by the failure of the First National of Helena, and the methods of the management of that institution. It advertised to pay interest and accented deposits from all over Montana, and as far off as Minnesota, and when it had corralled all the loose money it could expect, it failed because the Northern Pacific drew out a paltry $60,000. "One man in Beaverhead county had $60,000, every dollar he had on earth, deposited in that institution.