5338286091119 533828609
hash
26da79b1b482fdd6None
Click image to open full size in new tab
Run on a Bank. HILLSDALE, Mich., March 24.-Hills. dale people were considerably alarmed this morning by rumors affoat to the effect that the First State bank was not secure. A big run followed as soon as the doors opened. The bank was drained of currency, and the officials telegraped for more, and with local assistance are paying all demands.
Click image to open full size in new tab
ALL TUMBLING DOWN. It Is a Hard Season for Banks and Commercial Concerns. CINCINNATI, May 12.—The private bank of Dwiggins, Starbuck & Co., at Williamsburg, Ohio, closed its doors this morning on orders from Dwiggins, president of the Columbia Bank at Chicago. It was a branch of that bank. The assets are $35,000, liabilities $60,000. The expert accountant employed at the bank yesterday came here early this morning and was arrested and charged with embezzlement. It is suspected that he has been employed to conceal some funds of the bank. TOLEDO, Ohio, May 12.—The Ottawa County Bank at Elmore, Ohio, closed its doors to-day as a result of the failure of the Columbia National Bank of Chicago. The outlook is that the depositors will be paid in full. EDWARDSBURG, Mich., May 12.—The Citizens' Bank displayed a notice on its door this morning as follows: "Out of town on business; back at noon." Dwiggins, Starbuck & Co. of the Columbia National Bank at Chicago held a large share of stock in the Citizens' Bank. The citizens of this place are interested to the extent of $25,000. The township and school funds are also tied up. The manager of the local bank, T. Lawton of Michigan, has left town. The bank is closed. Liabilities small. OTTAWA, Ill., May 12.—Richard J. Hornick, banker, merchant and speculator, of Grand Ridge, has failed, owing to the run on his bank, caused by financial entanglement with his brother, John Hornick of Sioux City. INDIANAPOLIS, May 12.—The Commercial Bank of Brookston has failed. There is no statement of assets or liabilities. It was controlled by the Columbia Bank of Chicago. The bank of Greenwood, Ind., has closed its doors on account of the failure of the Columbia Bank at Chicago. There is no statement. The directors of the Capital National Bank of this city, which suspended yesterday, to-day state that the suspension cannot result in the loss of one dollar to a single depositor. KOKOMO, Ind., May 12.—The Commercial State Bank of Russiaville and the Farmers' Bank at Greentown, both under one management, failed this morning for $60,000. The failure of the Columbia Bank at Chicago is responsible for the collapse. About twenty other banks in Indiana are connected to some extent with the Columbia Bank, and like a number of private banks, are mostly small concerns. GENEVA, Ind., May 12.—The Farmers' and Merchants' Bank suspended to-day at noon. It was connected with the Columbia National of Chicago. LAFAYETTE, Ind., May 12.—The Commercial Bank at Brookston, fifteen miles north of this city, has closed its doors. The deposits amount to about $50,000, and the officers say it will pay in full and will resume business as soon as its affairs can be straightened out. PORTLAND, Ind., May 12.—A deputy Sheriff left here this morning upon receipt of the news of the Dunkirk failure with a writ of attachment. He found that the total assets amounted to $2000 in money and a few notes. The largest figures are that the liabilities will overrun $75,000. A meeting of creditors was held to-day, but no definite action was taken. HILLSDALE, Mich., May 12.—The First State Bank of this city went into liquidation to-day. The business was transferred to the Hillsdale Savings Bank, which will assume all liabilities and pay all depositors in full. ROCKFORD, Mich., May 12.—The private banking institutions at Paris and Nave closed their doors this morning. Nothing is to be learned except that the banks are affected by the failure of the Minneapolis bank. KALAMAZOO, Mich., May 12.—The Union Bank at Richland, this county, did not open its doors to-day, owing to its connection with the Columbian National Bank of Chicago. Cashier Wants expects to raise sufficient cash to enable him to open the doors to-morrow morning and to pay all claims. Dwiggins, Starbuck & Co. of Chicago also owned the Lawton bank, which is now in the hands of the Sheriff. MADISON, Wis., May 12.—The Bank of Oregon, established about one year ago by Dwiggins, Starbuck & Co., made an assignment to-day. The closing of the bank is due to the collapse of the Columbian National Bank of Chicago. The assets are figured at $35,000 and the liabilities at $30,000, of which $25,000 is due depositors, who are nearly all business men of the village of Oregon. CHARLEVOIX, Mich., May 12.—The Bank of Charlevoix closed its doors this morning and placed its affairs in the hands of an assignee. The Northern Michigan Seed Company, for which the bank furnished financial backing, is included in the assignment, but no other failures will result. The deposits will probably not exceed $10,000, and it is believed that every creditor will be paid in full. CASEY, Ill., May 12.—The Columbia National Bank of Chicago was the principal stockholder of the Farmers' and Merchants' Bank of this city, and it made an assignment to-day. The assets are probably $16,000. The liabilities are uncertain so far, but it is thought they will reach $25,000 or over. WILMINGTON, Del., May 12.—The liabilities of R. B. Robinson & Co., the suspended bankers, are $325,000; assets, $200,000. The order of the Knights of
Click image to open full size in new tab
MICHIGAN BANKS. One at Charlevoix Fails and One at H ills dale,Voluntarily Closes. CHARLEVOIX, Mich., May 13. - The bank of Charlevoix closed its doors Friday morning and placed its affairs in the hands of R. W. Kane as assignee. There was no run on the bank, but its affairs were in such shape that this move seemed necessary to do justice to all creditors. The firm is composed of W. P. Brown and his son. Gardner R. Brown, and while their capital was not large, they were supposed to be doing a safe and conservative business. The Northern Michigan Seed company, for which the Browns furnished the financial backing, has been a heavy drain, parties who expected to put in additional cap ital failing to do so, and this company is included in the assignment. No other failures will result. The deposits will probably not exceed $10,000. HILLSDALE, Mich., May 13.-The First state bank of this city has gone into liquidation and quit business. The business has been transferred to the Hillsdale savings bank, which will assume all the liabilities and pay depositors in full.
Click image to open full size in new tab
MICHIGAN BANKS IN TROUBLE. Financial Institutions at Charlevoix, Hinsdale and Lawton Close Their Doors. CHARLEVOIX, May 13. - -The bank of Charlevoix closed its doors Friday morning and placed its affairs in the hands of R. W. Kane as assignee. There was no run on the bank, but its affairs were in such shape that this move seemed necessary to do justice to all creditors. The deposits will probably not exceed $10,000. HILLSDALE, May 13.-The First state bank of this city has gone into liquidation and quit business. The business has been transferred to the Hilladale savings bank, which will assume all the liabilities and pay depositors in full. PAW PAW, May 3.-Great excitement prevails at Lawton. The managers of a local bank there did not open up the institution, having left town Thursday night. Citizens have some $18,000 deposited in the bank and are taking legal steps in the hope of realizing something. EDWARDSBURG, May 13. - The Citizens' bank of this place has suspended. The failure of the Columbia national bank tells the story. Dwiggins, Starbuck & Co., of the Chicago institution, held a large share of stock in the Citizens' bank. Citizens of this place are interested to the extent of $25,000. Township and school funds are also tied up. It is believed depositors will be paid in full. BOCKFORD, May 13.-The Rockford bank failed to open its doors Friday morning. The deposits were local and amounted to $29,000. The suspension is due to the failure of the Columbia national of Chicago, which dragged down the private banking firm of Paris & Nave, of Indianapolis, who owned the Rockford institution and several small banks in Indiana.
Click image to open full size in new tab
CONTRACTION DOES THE WORK Banks Continue to Close Their Doors all Over the Country. QUEENSLAND, May 17.-The Royal Bank of Queensland closed its doors this morning and its suspension was announced. It had a capital stock of £400,000. MINNEAPOLIS, Minn., May 17.-The Citizens' Bank of this city suspended payment this morning and a receiver has been asked for. FLORENCE, S. C., May 17.-Much surprise and some little excitement were caused in Florence yesterday morning when the following notice appeared on the closed doors of the Bank of Carolinas: "This bank has suspended payment until a meeting of directors can be held. JOHN P. COFFIN, Pres't. JACKSONVILLE, Fla., May 13.-A Kissimmee special to the Times Union says: Much to the surprise of everybody, the following notice appeared on the door of the Kissimmee City bank before the opening hour this morning: "This bank is closed until further notice by virtue of a deed of assignment this day executed and recorded in the clerk's office of Osceola county. SYDNEY, Australia, May 15.-The Commercial Banking Company closed their doors this morning. The liabilities are not yet known. The capital stock of the company was £600,000. LINCOLN, Neb., May 13.-Kendall & Smith, the largest millers in this section have made an assignment for the benefit of their creditors. WARDENER, Wash., May 13.-Small & Colby, extensive lumber dealers of this place, made an assignment to day. Their liabilities are $50,000. INDIANAPOLIS, Ind., May 13 -The Bank of New Orleans, Bank of Roas ville, Bank of Freeport, Ohio, and the Bank of Rockford, Michigan, all private concerns and with no extensive patronage were closed to-day by order of Paris and Nave, bankers, of this city, who controlled them. The Commercial State Bank, of Rushville, Ind., Bank of Brookville, Ohio, and the First State Bank, of Hillsdale, Michigan, have suspended. MINNEAPOLIS, May 17.-The Citizens' Bank has suspended and a receiver has been asked for the Northwestern Guaranty Company. WATERLOO, Iowa, May 17. - The First National Bank, of Sioux Falls, suspended at the close of business yesterday, being involved by the assignment of William M. Fields & Brother, importers of horses. The liabilities are estimated at from $100,000 to $150,000, while the personal liabilities of Field will be nearly as much more. No statement of the assets can be given as yet.