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aa3ae41f6345facdFull suspension, Books examined
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A Port Angeles Bank suspends. PORT ANGELES, June 26.-[Special.]--The First National bank suspended this morning. The assets are $142,000; liabilities, $85,000. Col. W. W. Gray is president and c. P. Brown cashier. The suspension will be for only a few days and depositors will lose nothing.
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paid the Illinois corporation known as the World's Columbian Exposition. FAILURES OF A DAY. Banks and Business Houses Suspend and Others Resume Business. Port Angeles, Wash., June 26.-The First National Bank of this city suspended shortly after opening its doors this morning. The suspension was caused by the sudden withdrawal of deposits by several large depositors. The officers of the bank saw that the cash on hand would not hold out, so they decided to suspend temporarily until funds could be secured. The assets of the bank are $142,000; liabilities, $86, 000; due depositors, $82,000. The bank has been conducted on very conservative lines, and is in good condition. The suspension caused no excitement, and confidence in an early resumption is expressed by all parties. The suspension will only cause a temporary embarrassment to a few. Buffalo, June 26.--The Queen City Bank has failed. The bank suffered a steady drain for the past several weeks. After paying out all its available cash, even to dimes, nickels and pennies, the officers this morning walked out and closed the doors. It owes the depositors over $140,000. The management claim the depositors will be paid in full. San Francisco, June 26.-The firm of S. &. G. Gump, extensive dealers in art goods, made an assignment today. The liabilities are placed at $140,000. The assets of the firm are supposed to exceed this amount. The cause of the failure is attributed to the calling in of loans. Minneapolis, June 26.-The Bank of New England has suspended payment at least temporarily. A. J. Blethen, the president, says the depositors will be paid in full. New York, June 26.-A receiver has been appointed for the Mutual Brewing Company of College Point. San Diego, June 26.-The Bank of Commerce resumed business this morn-, ing.
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Small Banks Embarrassed. TOPEKA, Kan.. June 26.-The Bank of Ness City has been closed by State Bank Commissioner Breidenthal after an unsuccessful attempt to raise money among its Eastern stockholders to tide it over its present difficulties. This bank, which haa a capital stock of $40,000, had $31,300 deposits. and when the bank commissioner took charge it had just $83.15 cash on hand. Bank Commissioner Breidenthal says the bank. was loaded down with real estate. PORT ANGELES, Wash., June 26.-The First National Bank suspended to-day temporarily. Assets. $142.00 liabilities, 885,000; due depositors, $82,000. The bank expects to resume in a short time. WILMINGTON, O.. June 26.-The Sabina Bank. a private institution of this county, has suspended. It had a capital of about $25,000. Isaac Lewis, a farmer, was president.
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A Paget Sound Bank Falls. PORT ANGELES, Wash., June 26.-The First National bank of this city suspended sbortly after the opening of its
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A Port Angeles Bank Suspends. PORT ANGELES, Wash., June 26.-The First National bank suspended today, temporarily. Assets, $142,000. Liabilities, $85,000. There is due depositors. $82,000. The bank expects to r esume in a short time.
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APPOINTED BANK EXAMINER. Washington, June 27. I Comptroller Eckles today appointed Charles A. Dyer, of Port Townsend, Wash., National bank examiner, and assigned him to take charge of the failed First National bank of Port Angeles, Wash.
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Port Angeles Bank Closed. PORT ANGELES. Wash.. June 27.-The First National Bank of this city closed its doors yesterday morning after having been open thirty minutes. Two weeks ago the deposits of the bank were $127,000. and it was regarded as one of the safest in the State. But from some cause a run commenced and continued until the deposits. including county funds. amounted to only about $85,000. Against this the bank announced its resources as $142,000. The bank will undoubtedly resume business in a short time. The management have the entire con fidence of the people. WASHINGTON. June -Comptroller Eckels to-day appointed Charles A. Dyer of Port Townsend. Wash., A national bank examiner. and Assigned him to take charge of the failed First National Bank of Port Angeles. Wash.
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BANK TROUBLES IN VARIOUS CITIES. Buffalo, June 27 (Special).-The first failure among Buffalo banks, in the present panic, is likely to be the last Considerable anxiety was felt about the situation here before the banks opened this morning, but in not one of them were the withdrawals unusually large. The action of the Buffalo Bankers' Association in offering to issue unlimited clearinghouse loan certificates nipped in the bud the panic started by the failure of the Queen City Bank. The banks here hold combined assets of $30,000,000 and cash resources of $6,000,000. The feeling among business men here to-day is more confident than at any time iu the last three weeks. Mr. Creed, the deputy superintendent of the bank, stated this afternoon that, so far as he has proceeded with his examination of Queen City Bank affairs, he knows of no reason why it should not resume business at an early day. Los Angeles, June 27.-The Broadway Bank opened Its doors this morning. The bank commissioners say the bank ought never to have closed. The University, First National and Southern California National are still closed. They will be opened in a few days. Confidence seems restored and the business outlook is improving Ashland, Ky., June 27.-The Second National Bank of this place closed its doors this morning. It is solvent. but was forced to suspend because of inability to realize on good paper. The depositors will all get their money. Seattle. June 27.-A special from Port Angeles says: "The First National Bank, of this city, closed its doors yesterday morning, after having been open thirty minutes. Two weeks ago the deposits of the bank were $127,000, and it was regarded as one of the safest in the State. From some cause a run began and continued until the deposits, including county funds, amounted to only about $85,000. Against this the bank announced its resources as $142,000. The bank will undoubtedly resume business in a short time.
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BANK EXAMINER APPOINTED. Comptroller Eckles today appointed Charles A. Dyer of Port Townsend, Wash., national bank examiner and assigned him to take charge of the failed First National Bank at Port Angeles, Wash.
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Bank Examiner Appointed, WASHINGTON, June 27.-Comptroller Eckles today appointed Charles A. Dyer of Port Townsend, Wash., national bank examiner, and assigned him to take charge of the failed First National bank of Port Angeles, Wash.
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New York Cloak House in the Hands of the Sheriff. CHICAGO, June 27.-Goldman Bros., cloak manufacturers, have become financially embarrassed, and the sheriff has taken possession of their place of business. They have been in business many years, and their house is one of the oldest in the cloak line in this city. A few months ago they claimed to be worth $200,000, of which about $125,000 was invested in the business and the balance being in real estate and securities. In the trade the failure is attributed to dull business-and tight money. The liabilities are said to be about $75,000. CHICAGO, June 27.-The Illinois Fuel company confessed judgment this afternoon for $43.987. The company owns mines in Sangamon county, and has $150,000 worth of assets against $100.000 liabilities. The Columbian Excursion company, the lessee of three hotels in the world's fair district, the Everett, the Costello and the Boston, assigned today. The liabilities are $30,000; assets considerably more. The company has a number of contracts, the assignee said, with parties of visitors from the East, who have delayed their coming. NEW YORK, June 27. - -L. Banel, coffee broker, has notified the coffee exchange of his inability to meet his obligations. ASHLAND, Ky., June 27. - The Second National bank of this place closed its doors this morning. It is solvent, but was forced to suspend because of into realize on paper. The ability will all good their monev. depositors get CINCINNATI, June 27.-The firm of Rennkamp Bros., manufacturers of furniture at 225, 227 and 229 Clinton street, made an assignment this morning. The assets are $100,000 and liabilities $40,000. PORT ANGELES, Wash., June 27.The First National bank of this city closed its doors yesterday morning, after being open thirty minutes. The bank will undoubtedly resuire business in a short time. The management have the entire confidence of the people of this city. TOLEDO, O., June 27.-The Toledo Spice company, of this city, made apfor the plication appointment The liabilities of a receiver this afternoon. amount to over $40,000; assets unknown. CINCINNATI, June 27.-Rennekamp Bros., manufacturers of furniture on Clinton street, assigned today. Liabili4 ties, $40,000; assets, $100.000. CHICAGO, June 27.-Rinna A. Wells, a wholesale lumber dealer, made an assignment today. The liabilities are not known, but it is said his estate will amount to more than $25,000. INDIANAPOLIS, June 7.-The D.E. Stone Furniture company assigned today. Liabilities, $45,000; aseets, $40,000.
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property. NEWS OF THE NORTHWEST. A scheme is on foot to start a starch factory at Colton. All the gambling houses in Tacoma have been closed again. A small run of salmon is reported from the Skeena river, Alaska. The fall term at the state university at Seattle begins next Monday. Thirty-two ships are en route to Port land to carry away the grain crop. "Billy" O'Connell of Seattle has made application for admission to the bar. The depositors of the First National bank of Port Angeles are assenting to a proposition looking to a reopening of the bank. According to the Rosebug Review the well-laden orchards In the Umpqua valley this year will do much to dispel the cry of hard times. Tuesday night the Seattle police ar rested a drunken man in the slums and when they searched him at the station over $10,000 was found upon him. Salmon are coming in through the straights of Fuca and the Georgian gnif and are going up the Fraser river to British Columbia in great schools. J. C. White will c omplete at once the survey of the Idaho state wagon road, Surveyor Trask having resigned because the commissioners cut down his bills. Work is being pushed on the Oregon agricultural college buildings at Corvallis. They will be completed before the opening of the school September 22. Parties who have been fishing in the Wood river and elsewhere in south Idaho report more mountain tront In all the streams this season than there ever has been in any year in the past. The island of Oahu, the chief of the Hawailan group, will be almost encircled by a railroad. A. Leek, a Seattle man, has secured the contract for its construction, which will cost over $1,000,000. The rawhide used by a young ladv In The Dalles, Ore., on Rev. O. D. Taylor, who had swindled a friend of hers, a teacher in Taylor's academy, out of her wages, was recently sold at anction, bringing $150. Marshal McGrath of Ellensburg has been busy conducting the hobos to the ntmost limits of the city. The Register reports that forty of these vagrants were given tie passes down the road one day last week. Cle-Elum is considerably excited over the news of the discovery of native cop per on the Upper Teanaway and in the Peshastin and Trout lake mineral belt. There is said to be considerable silver In the copper ore. The assessment rolls of Yakima conn. ty show an Increase this year of $795,730 in real estate and $114,925 personal property. Central Washington is one of the few sections of the world that can show prosperity in these times of general depression. The school board of Great Falls, Mont., has reconsidered the action of postponing the opening of the public schools till November 1. It is believed that the merchants will take at least a portion of the warrants at par until the new taxes become available.
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Receiver for the Port Angeles Bank. POST ANGELES, Oct. 8. - (Special.) 1 Charles A. Dyer. of Port Townsend, late national bank examiner, has been ap. pointed receiver of the First National bank of this city.
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THE PORT ANGELES BANK. A Statement by Depositors as to the Attempt to Reopen. PORT ANGELES, Dec. 22, 1893. To THE EDITOR: Your issue of the 22d inst. contains a special dispatch entitled "The Directors Got the Money," dated Washington City, December 21. This dispatch is misleading and conveys a wrong impression of the First National bank situation here. The facts are as follows, to-wit: The First National bank of this city suspended business on June 26 last, in consequence of the general financial depression. Its resources at that time amounted to $163,000; its liabilities to $102,000. Immediately following the suspension the stockholders began the work of resumption. Owing to the great timidity of capital which has prevailed throughout the country much difficulty was experienced in obtaining a loan large enough for the purpose. As a commencement to the work of opening the bank, the stockholders proposed to pay the depositors, immediately upon resuming, 5 per cent. of the amount of their deposits in cash and to issue to them certificates of deposit, each for an additional 5 per cent., payable monthly, with 6 per cent. interest per annum. This proposition met with the approval of the depositors, and the coltract has been signed by them to the amount of $02,000. Satisfactory arrangements were concluded with the comptroller of the currency and his terms have been practically complied with. I quote from your "special:" "Comptroller Eckels has finally decided to stand by his original decision, etc., etc." Now 1 pretend to say, and I speak advisedly, that Mr. Eckels has never yet stated to any one that he has decided that this bank shall not resume. On the contrary I firmly believe that the bank will shortly resume its regular business with the sanction of Mr. Eckels. Mr. C. W. Thompson, the proposed president of the bank, is a gentleman widely known on Puget sound. He is a person of intelligence, ability and of the strictest integrity and one of the wealthiest men in this county. From your article the public would be likely to infer that his previous business connection with the bank was open to question. This is wrong and misleading and should be corrected at once. As a matter of fact, Mr. Thompson, though a stockholder, has never been a director or other officer, nor has he had any voice whatever in the management of the bank, nor does he owe it any money. When he was named as the coming chief officer much was done toward restoring confidence and the depositors are now united for resumption. The creditors of the bank have expressed their approval of Mr. C. E. Mallette as the coming cashier in terms of the utmost confidence and warmest approval. Mr. Mallette is also one of the wealthiest citisens of this county, and has never had
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buing for the Bank's Assets. Charles A. Dyer, receiver of the wrecked First National Bank of Port Angeles, yesterday brought suit in the United States court to recover from Ralph Chambers $4,000 on four promissory notes, and against Frank Chambers, sr., to recover $3,500 on four promissory notes.
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STATE NEWS. A Kansas man is talking of starting a paper mill at Spokane. Snohomish votes on $8,000 school funding bonds to-morrow. Hillyard has voted to bond itself $17,000 for a schoolhouse. Sprague's creamery is using about 4,000 pounds of milk daily. Pullman is advertising for bids on $23,000 worth of municipal bonds. The new normal school building at Ellensburgh is about ready for the plasterers. The first white bricks, a home prod-uct, for the Spokane courthouse were laid there Saturday. The estate of M.C. Sullivan, the detective who died lately at Tacoma, foots up about $350,000. Gold placer mining is now being carried on with some success near Summer, Pierce county. Port Townsend expects a visit from Assistant Secretary Hamlin of the Treasury Department. A 30 per cent. dividend is to be paid depositors of the Port Townsend national bank which suspended September 18. Edward H. King, a well-known Oakesdale lawyer, has been declared insane and committed to the asylum at Medical Lake. The Pacific Window Glass Company, for the manufacture of glass, has been incorporated at Tacoma at a capitalization of $100,000. Sam Hutchinson, the tallest man on the Pacific coast (7 feet 21 inches), has started from Prescott with a carload of horses for Nebraska. The First National bank of Port has Angeles reopened. Its suspension, be 10 months in duration, is said to the longest in the history of national banks. Mr. Eldredge was at the reopening. The Gray's Harbor Commercial Company is filling an order for 50,000 feet of fir and spruce finish to go into cruiser which the Cramps' shipyard at Chester, Pa., is getting ready. This is the first order from them. The expense bill in the trial of the Edmiston case has been received at Walla Walla from the clerk of Garfield county. It is as follows: Bailiffs, $66.40; witnesses, $1,309.40; jurors, $685; total, $2,060.80. Banker Waldron, of New Whatcom, has been vindicated for bis connection with the Rogers shortage, and the criminal proceeding against him has been dismissed. The Express says he comes out of it with flying colors." Contract has been let for completing the survey of all the lands in Okanogan valley from the Salmon river to the British line. This will throw open the whole unsurveyed lands along the Okanogan river for 75 miles. Several miners and ranchers are camped along the border of the Colville reservation, awaiting the time it will be opened to settlers, so that they may have an early opportunity to procure the choice rapches or mining property. The Colfax Gazette prints a long tabulated cost of to computation of the It foots $136,401.43 for or litigation up Whitman 1893, county. $23.52 which each of our taxpayers are comto to protect of pelled pay the rights property and life. The State Board of Horticulture has arranged for a series of meetings during the latter part of May in Pieree, King, Whatcom, Jefferson, Snohomish and Chehalis counties, and at these meetings the subject of spraying, ridding trees of pests and fungus and also the best methods of packing fruit for shipment will be discussed.
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Senator R.C. Wilson Appointed Receiver Washington City, April 26.-Special.Comptroller Eckels has appointed State Senator R. C. Wilson, of Port Angeles, receiver of the First National bank of that place. C. E. Mallette was an applicant, but his connection with the bank's affairs was such that he was not considered.
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Bank Changes at Port Angeles. Port Angeles, April 27.-State Senator R. C. Wilson today received notice from Comptroller Eckels of his appointment as receiver of the First National bank of this city, now in the hands of Bank Examiner Clary. Senator Wilson takes charge on Monday next and will begin to liquidate the bank. The new bank of Clallam county, incorporated as a state bank, will open for business with Charles E. Mallette, late cashier of the First National bank, as cashier.
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NEWS OF THE STATE. Arrangements are about completed for the establishment of a creamery at Chehalis. The Normal and Business College of Southwestern Washington will open at Oysterville, the 26th inst. Alfred Anderson, of Tacoma, has been appointed state immigration agent at Chicago, by Secretary Price. The Western Iron and Steel Company's plant, at Lakeview, commenced operations last week, giying employment to fifty persons. The Frst National Bank, of Port Angeles, has again suspended, and a receiver has been asked for that its affairs may be wound up. Liabilities, $10,200; assets, $71,000. An unsuccessful attempt was made last Friday to hold up the Northern Pacific express near Cle-Elum. The company had been warned and were prepared. Two were arrested. Insurance Commissioner Price has issued to Mrs. Edmund Nallaine, of Seattle, a commission to act as insurance commissioner in that city, she being the first lady in the state to receive such a document. A bunch of 64 steers, fattened on headed wheat and shorts, were recently shipped from Pullman to Chicago. This is the first experiment of the kind and the buyer informs the Colfax Gazette that he had never bought better beef in the west. A new industry is to be established at Pillar Rock, this state, by a Portland firm. Machinery is being placed for a $25,000 plant for the manufacture of fish oils, and the factory will be in operation early this month. The offal from twenty canneries on the Columbia river, amounting to 4,000 tons annually, will be utilized, and during the fall season seals will be captured for converting into oil. Salmon oil is valuable for tanning and other purposes.
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Controller Eckels has notified R. C. Wilson, receiver of the First National bank of Port Angeles, that a special examiner will investigate the disposition made of the bank's securities prior to the second time that bank closed its doors.
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Port Angeles Bank Stock Assessed. Port Angeles, March 11.-Special.-The United States comptroller of the currency has ordered an assessment of 25 cents on the dollar on the capital stock of the First National bank of this city. Senator R. C. Wilson is receiver for the bank, and has been authorized to make the levy. The amount to be collected is $12,500.
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Receiver R. C. Wilson sold the last of the assets of the First National bank at Port Angeles, Saturday, at public auction. The bank failed in 1893, and since then a dividend of 20 per cent. has been paid. There remained to be disposed of $25,000 in promissory notes and $19,000 in other assets. The promissory notes brought but $50, the total sale amounting to $900. The auction was well advertised and the attendance large. The.court has confirmed the sale except as to the promissory notes, which he has taken under advisement.