410801123 41080
national
28328aeb01384d75Public signal of financial health, Full suspension, Books examined
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FINDLEY COUNTY BANK. GARDEN CITY, Kansas, July 5.The Finley county bank has failed. No statement. WILL RESUME AGAIN. PUEBLO, Colo. July 5.- The American National bank has suspended. The assets are $1,250,000 and the liabilities $635,000. It 18 believed it will resume business shortly.
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THE BANK PANIC. IT REACHES PUEBLO WITH A VENGEANCE. Four Institutions Close Their Doors in One Day-A Savings Bank at Omaha Goes Under. Special to the RECORD-UNION. PUEBLO, (Col.), July 5.-The bank panic did not reach Pueblo until this morning, and then it came with a vengeance. When the American National opened for business a large number of depositors were waiting to take out their money. The crowd grew, and about 10 o'clock the doors were closed. A notice was posted stating that the bank would commence business again soon, and that the assets were $1,250,000 and the liabilities $650,000. Runs commenced on both the Western National and the First National. The Western National closed its doors before noon. They have deposits of over $1,000,000, and were always considered very strong. Hundreds stood in and about the First National Bank all day, and the depositors were paid as fast as the paying teller could handle them. The general expectation is that the First National will be able to pay its creditors in full when called for, and they cannot be forced to close. The Central National closed at noon. The assets are about $170,000, and the liabilities about $70,000. A run was made on the Pueblo Savings Bank, but they took advantage of the law which allows them sixty days. The bank is regarded as perfectly safe. A much better feeling prevails this evening, and the worst is believed to have passed. Each of the closed banks will pay in full as soon as they can realize on collateral. FAILURES AT OMAHA. OMAHA (Neb.), July 5.-The American Savings Bank has gone into voluntary liquidation, and asked the State Banking Board to wind up its affairs. The action is due to the failure of the American Loan and Trust Company, which was placed in the hands of a receiver this afternoon at the instance of the directors of the concern, the company being the principal stockholder in the savings bank. The failure of the investment company is attributed to the failure of the Omaha and South Texas Land Company and the American Loan Company. The first of the concerns embarrassed had a paid-up capital of $400,000. The savings bank was an offshoot, with a capital stock of $400,000, of which $100,000 was paid up. O. M. Garter is President of both institutions. Since the failure of the McCague Bank the American Savings has effected a reduction of deposits to $9,000, the remaining securities amounting to $253,000 of the best. The total liabilities amounted to but $153,000. Carter gave a mortgage on his residence property yesterday for $50,000, to protect one of the Eastern creditors, from whom no money was secured, No statement of the bank's exact condition can be obtained to-night.
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More Failures. PUEBLO, Colo., July 6.-Three of the national banks of this city failed to open their doors yesterday. They claim that their assets are far in excess of their liabilities, but that their inability to get sufficient cash to keep up the required reserves precessitated suspension for the present. On account of a run, the American National bank of Pueblo has suspended. The assets are$1,250,000;liabilities, about $600,000. Deposits will be paid in full and business resumed in a few days. Kansas City.-Creditors have taken possession of the stock of the Golden Eagle Clothing Co. on a chattel mortgage aggregating $50,000. The liabilities are $90,000 with assets about the same. Topeka, Kas.-The - Finney County bank of Garden City, Kas., has failed.
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YESTERDAY'S FAILURES. Kansas and Colorado Banks Compelled to Suspend. Pueblo, Col., July 5.-The panic did not reach Pueblo until this morning, Then it came with a vengeance. When the American National opened for bus iness a large number of depositors were waiting to take out their money. The crowd was great, and about 10 o'clock the doors closed. Runs were com menced on both the Western National and the First National. The Western National closed its doors before noon. Sumas, Wash., July 5.-The Bank of Sumas suspended on Monday. No statement has been made, but it is thought creditors will be paid in full. Everett, Wash., July 5.-On account of the inability to realize on securities, the Puget Sound National Bank of Everett suspended today. The suspension is said to be due to the refusal of Eastern banks to honor heavy drafts on the security offered. The bank or ganized last fall ith a capital of $100,000 Winnipeg, July 5.-The Commercial Bank has gone into liquidation. Liabilities, $1,270,000; assets, 1,981,000. The bills of the bank go under the dominion law. Pueblo, Col., July 5.-The American National Bank has suspended. The assets are $1,250,000; liabilities $635,000. It is believed the bank will resume shortly Howard, S. D., July 5.-Vilas, Christianson & Co.'s bank has failed. No statement is given. Garden City, Kan., July 5.-The Finley County Bank has failed.
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PUEBLO'S BANKS SUSPEND. THE EDICT OF COLORADO MINE OWN. ERS CAUSES A TEMPORARY SCARE The Confidence or the People is Shaken and They Start a Ren-Three or the Banks Are Sound and May Reopen-Despondency nt Denver Giving Way to Better Feeling. PUEBLO, July 5.-The edict of the mining men last week severely shook the confidence of the people of Colorado. and the failure of small banks in mining towns resulted. The scare crept into the large towns. and this morning the American National Bank of Pueblo opened its doors to find n crowd of depositors waiting to withdraw their money. The bank closed its doors and posted a notico stating its assets to be $1,250,000 and its liabilities $635,000. This started a run on the other banks of the city. and at noon the Western National. the Central National. and the Pueblo savings banks all closed for the day. President W. L. Graham of the Western said to-night that his bank has three times the necessary assets to meet all liabilities. and he regretted very much that he had to close his bank. but deemed It best. When confidence is restored and time 18 given to make collections on outstanding notes the bank will be able to resumo. President D. L. Holden of the Central states that the bank is sound and will certainly resume. The Pueblo Savings Bank has its securities in first-class order and will be only temporarily embarrassed. The condition of the American National is not considered NO bright. and though all its liabilities may he met. It is now not thought that the bank will resume It is a young bank. and its policy has been to bid strongly for business It had for correspondents within the State a number of country banks whose failures crippled 11. President Baxter is one of the most wealthy men of Colorado. and he alone is good for all the liabilities. The fear is maining ground that these bank failures may drag down prominent firms. not only in this city but in every section of the State. Colorado has resources enough to meet all its obligations.
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The Bank of F orence Shu's Down. FLORENCE, COL. July 6.-The bank of Florence closed its doors yesterday alter a short run. The bank is a branch of the sus. pended American National at Fueblo. Assets are claimedito be in excess of liabilities.
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PUEBLO BANKS CLOSE. Runs Are Made on Them and Three Shut Their Doors. PUEBLO, Colo., July 5.-The bank panic did not reach Pueblo until this morning, then it came with a vengeance. When the American National bank opened for business a large numbar of depositors were waiting to take out their money. A notice posted up stated that the bank would commence business again soon and that its assets were $1,250,000 and liabilities $650,000. Runs commenced on both the Western National and First National. The Western National closed its doors before noon. They have deposits of over $1,000,000 and were always considered very strong. Hundreds stood in and about the First National bank all day and depositors were paid as fast as the paying teller could handle them. The general expectation is that the First National will be able to pay creditors in full when called for and that they cannot be forced to close. The Central National closed at noon. Assets abount $170,000 and liabilities about $70,000. A run was made on the Public Savings bank but they took advantage of the law which allows them sixty days. The bank is regarded as perfectly safe. There is a much better feeling this evening and the worst is believed to be past. Each of the closed banks can pay in full as soon as they can realize on collateral. The Bank of Florence, at Florence, Colorado, closed its doors today. It was a branch of the American National Bank of Pueblo. Assets and liabilities are unknown but it is claimed creditors will be paid in full.
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BANKS. Comptroller Eckels' Information Abont Suspended Institutions. WASHINGTON, July 6.-The comptroller of the currency is informed that the First National bank of Los Angeles, Cal., and the Southern California National bank of the same place, which suspended recently, will open their doors for business again within 8 few days. The comptroller is informed that the First National bank of San Diego, which reopened for business yesterday, received deposits to the amount of $25,000, as against withdrawals to the amount of $8000. This is regarded as evidence of returning confidence. The Washington National bank of Spoliane reopened for business this morning. Comptroller Eckels states that the information given out in his office yesterday that he directed Bank Examiner Wilson to take charge of the First National bank of Albuquerque, N. M., was a mistake. The name of the failed institution, is the Albuquerque National bank. F ve national banks failed yesterday and this morning. as reported to Comptroller Eckels. They were the American National bank of Pueblo, Colo., the Central bank of Pueblo, Colo., the Puget Sound National bank of Everett, Wash., the National Bank of Ashland, of Ashland, Neb., and the First National bank of Winslow, N. C. Comptroller Eckels has directed Examiner Brown to assume charge of the two above named failed banks at Pueblo: Examiner Horine, of the failed Ashland bank; Examiner Cleary, of the failed Everett bank; Examiner Cascadon, of the failed Winslow, N. C., bank. OMAHA, Neb., July 6.-The American Savinga bank has suspended. Deposits, $153,000; assets, $259,000. WATERTOWN, N. Y., July 6.-A run was started on the Jefferson County Savings bank today. The bank continued paying all demanda after closing hours and it is believed the run is over.
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play a part in the selection of the Speaker. The announcement that there is a possibility that Bland may be replaced as chairman of the Committee of Coinage, Weights and Measures has them to renewed efforts. Stories of an attempted combination between the free silver advocates and the Populists to place a candidate for the speakership in the field unless they have an assurance from Crisp that Bland will be retained at the head f"the committee are floating about. but are not generally credited, for, though it is openly said by some that Bland will not again be chairman of the committee, there are no facts that would warrant such an assertion. Crisp has not even intimated such a thing. Among the more conservative the impression is that Bland will lead the committee. This would not, however, indicate that the entire committee will remain. It is known that Crisp has made absolutely no pledges one way or the other. Senator Harris, President pro tem. of the Senate, says there will be filibustering in the Senate against the bill to rapeal the Sherman law. Comptroller Eckels states that from information given out in his office yesterday he directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. Mex., through a mistake. The name of the failed bank is the Albuquerque (N. Mex.) National Bank. Five national banks failed yesterday and this morning, as reported to Comptroller Eckels. They were: The American National Bank of Paeblo, Colo.; Central National Bank of Pueblo, Colo.; Puget Sound National Bank at Everett, Wash.; National Bank of Ashland, Ashland, Nebr., and the First National Bank of Winston, N. C. Comptroller Ecke's has directed Examiner Brown to assume charge of the two above-named failed banks at Pueblo, Examiner Horine of the failed Ashland Bank, Examiner Cleary of the failed Everett Bank and Examiner Carscadon of theifailed Winston Bank. The Comptroller of the Currency has been informed that the First National Bank of Los Angeles and the Southern California Bank of the same place, both of which suspended recently, will open their doors again for business within a few days. The Comptroller has also been informed that the First National Bank of San Diego, which reopened for business yesterday, has received deposits to the amount of $25,000, as against withdrawals to the amount of $8000. This is regarded as evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. The gold in the treasury now amounts to $96,778,943.
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The Assets Are Double the Liabilities. PUEBLO, Col., July 6.-The American National bank has suspended. The assets are placed by the bank's officers at $1,250.000 and the liabilities at 6635,0 There is no excitement among the depositors of the other banks.
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FAILURES OF WESTERN BANKS. A FEW MORE SUSPENSIONS REPORTED-TWO BANKS RESUME AGAIN. Omaha, Neb., July 6.-The American Savings Bank suspended this morning with deposits of $133,000 and assets of $239,000. It was involved in the embarrassment of the American Loan and Trust Company. through the latter's enterprise, the Omaha and South Texas Land Company. Everett. Wash., July 6.-On account of inability to realize on securities the Puget Sound National Bank. of Everett. suspended yesterday. The suspension is said to be owing to the refusal of Eastern banks to honor heavy drafts on security affirmed. No statement is yet made. The bank's capital is $100,000. Worthington, Minn., July 6.-The Noble County Bank closed its doors yesterday morning, and its owner, Peter Thompson. made an assignment. Several thousand dollars of county money are tied up. Sumas, Wash., July 6.-The Bank of Sumas suspended payment on Monday. No statement was made. but it is thought creditors will be paid in full. Topeka. Kan., July 6.-Two Kansas banks closed their doors yesterday. The failure of the Finney County Bank, at Garden City, was not unexpected. as the bank has for "Some time been in bad condition. The bank of Leroy, Coffey County, also closed. Washington, July 6.-The Controller of the Currency is informed that the First National Bank of Los Angeles, Cal., and the Southern California Bank of the same place. which suspended recently, will few open their doors for business again within a days. Controller Eckels is adopting precautions in all cases where suspended banks apply for permission to resume. to make sure that the banks are put on an absolutely sound basis before the request is granted in order to guard againt a second suspension within a short time. The Controller is informed that the First National Bank of San Diego, Cal. which reopened for business yesterday, received deposits to the amount of $25.000, as against withdrawals to the amount of $8,000. This is regarded as an evidence of returning confidence. The Washington National Bank of Spokane reopened for business this morning. Controller his Pckels states that the information given out m office yesterday that he had directed Bank Examiner Wilson to take charge of the First National Bank of Albuquerque, N. M., was a mistake. The name of the failed bank was the Albuquerque, N. M., National Bank. Five National banks failed yesterday and this morning, as reported to Mr. Eckels. They were the American National Bank of Pueblo, Col.: the Central National Bank of Pueblo, Col.: the Puget Sound National Bank, of Everett. Wash.: the National Bank of Ashiand, Neb., and the First Na tional Bank of Winston, N. C. Controller Eckels has directed Examiner Brown to assume charge of the two banks at Pueblo. Examiner Horine of the Ashland bank, Examiner Cleary of the Everett bank and Examiner Carskadon of the Winston bank.
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e Faillites de Banques et autres depuis quelques jours -Edw. J. Binford de Denver,Col., a fait faillite. Passif 218,000 dollars. L. Banque of Lesueur, de Le sueur, Minn., a ferme 8°B portes. Passif 225,000 dollars. La Albuquerque National Bank d'Albuquerque, N. M, a suspendu ses paiements. L'American National Bank de Puibla, Col., a déposé son bilan. Fermée est la Puget Sound Na tional Bank de Everett, Wash. La National Bank of Ashland, Neb., a fait faillite, ainsi que la First National Bank de Winston, N. C. M. Ward banquier de Forestville N, Y. g'est suicidé et il parait que le déposants ne verront ja mais grand chose de leurs 100,000 dollars. La Northern National BaLk de Big Rapids, Mich, a fermé ses portes. La Lloyd's National Bank de Jamestown N. D. a suspendu ses paiements. La "Normania Society" de Min neapolis a fait faillite. Passif 75,000 dollars. John L. Davie, banquier d'Auburn, Ill la Thorton Banking House de Shelleyville, Ill., et la Holt county of O'Neil, Nebraska ont fait faillite. Insolvables sont: L'Arkansas State Bank de Stuttgard. La Farmers et Traders Bank de De Wett, Ark. La Chamberlin Investement Co. de Denver, Col. A. Y. Davidson et Co. banquiers de Philadelphie, Pa. La State Bank de Shurbert Neb. La North Galveston Loan et Investement Association de Galveston Texas. La Kangas City Safe Deposit et Trust Co. de Kansas City, Mo., au capital de 300,000 dollare. Passif 1,700,000 doliars.
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One Falls at Pueblo, Colo. PUEBLO Colo., July 5 --The American national bank has suspended; assets, $1,250,000; liabilities, $635,000. It is believed the bank will resume shortly.
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NATIONAL BANKS COLLAPSE. Five More Placed in Charge of Examiners -Other Business Troubles. Five national banks failed Thursday, as reported to Comptroller Eckels. They were; The American National Bank of Pueblo, Col. : the Central National Bank of Pueblo, Col.: the Puget Sound National Bank of Everett, Wash.: the National Bank of Ashland, Ashland, Neb.; and the First National Bank of Winston, N. Y. Comptroller Eckels has directed Examiner Brown to assume charge of the two failed banks at Pueblo, Examiner Hovine of the failed Ashland bank. Examiner Cleary of the failed Everett Bank. and Examiner Carskadon of the failed Winston Bank At Omaha. the American Savings Bank suspended. with deposits of $153,000 and assets of $259,000. It was involved by the embarrassment of the American Loan and Trust Company, through the latter's enterprise, the Omaha and South Texas Land Company. L. C. Lock & Co., merchants of Alma. Ark., have been closed up on attachments aggregating $20.000. Receivers were appointed for the Northwestern Hardware Company. an Illinois corporation. with offices in Philadelphia
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Banks Resume. PUEBLO, Col., Aug. 19.-Bank Examines J. Sam. Brown to-day wave permission to the Central National bank. which suapended July 15, to resume business Monday morning. The American and Western National banks, which suapended the same day. have received permission from CounD. troller Eckels to resume and are rapidly complying with the conditions required.
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Will Resume. PUEBLO, Col., Aug. 19.-Bank Examiner J. Sam B rown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, have received permission from Comptroller Eckels to resume, and are rapidly complying with the conditions required.
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Pueblo Banks Resuming. PUEBLO, Colo., Aug. 19.-Bank Examiner J. Sam Brown today gave permission to the Central National bank which suspended July 15th to resume business Monday morning. The American and Western National banks which suspended the same day have received permission from Comptroller Eckles to resume and are rapidly complying with the conditions required.
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Pueblo Banks to Resume Soon. PUEBLO, Col., Aug. 19.-Bank Examiner J. Sam Brown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, have received permission from Comptroller Eckels to resume, and are rapidly complying with the conditions required.
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Pueblo Banks Resume. PUEBLO, Colo., Aug. 19.-Bank Examiner J. Sam. Brown today gave permission to the Central National bank, which suspended July 15, to resume business Monday morning. The American and Western National banks, which suspended the same day, received permission from Comptroller Eckles to resume and are rapidly complying with the conditions required.
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WILL RESUME. Pueblo, Colo., Aug. 21.-Bank Examiner J. Sam Brown gave permission to the Central National bank, which suspended July 15, to resume business this morning The American and Western National banks, which suspended the same day, have received permission from Controller Eckels to resume, and are rapidly complying with the conditions required.
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Signs of Better Times. WASHINGTON, Aug. 24-The American National bank of Pueblo, Colo., and the Waupaca County National bank of Wanpaca, Wis, which suspended payment, have been authorized to resume business.
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A Pueblo Bank Resumes. PUEBLO, Sept. 6.-The American National Bank of Pueblo, which suspended payment on July 5 last. resumed this morning. Their day's business resulted in a net gain of $62,000 in cash for the bank. no withdrawals of deposits having been made.