78801123 7880
national
1586128b288cecdfFull suspension, Books examined
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Louisville City National Bank Assigns. LOTISVILLE. Ky July 24.- - The Louisville City National Bank suspended payment this afternoon. The bank has a capital of $400,000. The bank found it impossible to realize on its assets, owing to the financialstring+ncy. Deposits received today will be returned to the bank's patrons.
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Couldn't Realize. LOUISVILLE, Ky.. July 24.-The Louisville City National bank suspended payment this afternoon. The bank has a capital of $400,000 but found it impossible to realize on its assets, owing to the financial stringency. The deposits received today will be returned to the bank's patrons.
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More Bank Failures. TACOMA, Wash., July 24.-The Tacoma National Bank, one of the strongest in the Northwest, suspended this morning. This bank has been assisting other banks in the city for the past six months. LOUISVILLE, July 24.-The Louisville City National Bank closed its doors at 11:50 this morning.
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ASSETS BUT NO FUNDS. Louisville, Ky., July 24.-The Louis ville City * National Bank suspended this afternoon. It has a capital of $400,000, but finds it impossible to real ize on assets. All deposits received to day will be returned.
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A Lonisville Bank. LOUISVILLE, Ky., July 24.-The Louisville City National bank suspended payment this afternoon. The bank has a capital of $400,000. The bank found it impossible to realize on assets, owing to the financial stringency.
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A Kentucky National Bank Suspends. LOUISVILLE, July 25.-The Louisville City National bank closed its doors.
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GONE UNDER. THE KENTUCKY NATIONAL AND THE LOUISVILLE CITY NATIONAL CLOSE THEIR DOORS. Uneasy Depositors Make a Rush and The Banks Go Out of Business. THE OLD BRECKINRIDGE SAFE. Last Saturday morning the Kentucky National Bank, of Louisville, closed its doors and suspended businsss. This did not create a great surprise in financial circles, as it had been known for some time that the bank was in straightened circumstances. The failure, however, created an uneasiness among depositors in other banks, and on Monday there was such a rush made on the Louisville City National, which was also known to be hovering between life and death, that it was forced to suspend payment at 1:30 o'clock in the afternoon. This, of course, created some excitement, coming, as it did, right on the heels of the Kentucky National's failure. A wild rumor was in circulation over in Tobin's Bottom yesterday that the Breckinridge Bank, of this city, had been caught for a considerable amount by the fa lure of the Kentucky National and this we wish to correct. A NEWS man in conversation with a prominent official of the Breckinridge Bank yesterday learned that this bank was in no way connected with the unfortunate Louisville banks, and had lost nothing by their suspension. The Bre ckinridge Bank has done no business with them for years and was in no shape to be caught. The patrons of the Breckinridge Bank need suffer no uneasiness, for it is on a safe footing. It has plenty of money and is well able to pay every cent of its liabilities at a moments notice. LATER. Business was hardly opened yesterday morning till two other Louisville banks were forced to close their doors. These were the Louisville Deposit Bank and the Merchant's National Bank. Their suspension was caused by a rush of depositors, demanding their money. STILL LATER. The Fourth National Bank, of Louis ville, shut up shop yestorday afternoon, and great excitement is prevailing.
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THREE MORE IN LOUISVILLE, Two National and a Private Bank Forced to Close Up. Special to the Indianapolis Journal. LOUISVILLE, July 25.-Panic reigned in banking circles here to-day, and as a result three more failures are added to the list, making five since Saturday for Louisville. Runs were in progress on all the banks and none can tell where the trouble will end. The institutions gone up to-day are the Merchants' National, the Fourth National and the Louisville Deposit Bank. The Merchants' was the first to go. Half an hour later the Deposit Bank posted a notice and about the same time the Fourth National went to the wall. At that hour the excitement was running high and every one of half a dozen banks was crowded with depositors who were in line waiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky National Bank, Saturday. Then came the Louisville City National Monday, after the intervention of a Sunday holiday. and the Merchants' National. The Louisville Deposit and the Fourth National to-day. The failing of the Merchants' National was caused by the withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the clearing-house association, and, in its time of need, none of the other banks would give it any assistance whatever. The suspension of the Fourth National was a result of the panic. For a week there has been a stendy pulling out of deposits. This changed into a run after the suspension of the Kentucky National last Saturday. and the run continued Monday and Tuesday, and until the funds were exhansted to-day. The Merchants' National was capitalized at $500,000. and J. H. Lindenberger is president. The Fourth National has a capital of $300,000. and a surplus of $5,000; George Davis is president. The Lonisville Deposit Bank has a capital of $800.000, and a surplus of $16,128; Moses Sch wartz 18 president. The last state. ment of the Fourth National was as follows: Resources.
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A CRITICAL DAY IN LOUISVILLE. MERCHANT NATIONAL, THE LOUISVILLE DEPOSIT AND THE FOURTH NATIONAL SUSPEND. Louisville, July 25.-This will prove a memorable day in the financial history of Louisville. At 10 o'Clock this morning the Merchants' National Bank posted a notice of syspension and half an hour later the failure of the Louisville Deposit Bank was announced. By this time there were runs upon half a dozen banks in the city. They all stood the pressure except one-the Fourth Navional-which closed its doors in the Board of Trade building at 1 o'clock. At that hour the excitement was running high and every one of half a dozen banks was crowded with depositors, who were in line waiting their turn with the paying-teller. The first failure of the present crisis was that of the Kentucky National Bank, on Saturday. Then came the Louisville City National Bank on Monday. The failure of the Merchants' National to-day was caused by the withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the Clearing (House Association, and in Its time of need none of the other banks would give it any assistance. The suspension of the Fourth National was a result of the ranic. For a week there has been a steady pulling out of deposits. This changed into a rún after the suspension of the Kentucky National last Saturday and the run continued Monday and Tuesday and until all the funds were exhausted to-day. The failures are not considered bad ones. Depositors in the two National banks will be paid in full and the loss to stockholders will not be more than 60 per cent in either case. The Merchants' National Bank is capitalized at $500,000 and J. H. Lindenberver is president. The Fourth National has a capital of $300,000 and a surplus of $35,000. George Davis is president. The Louisville Deposit Bank has a capital of $300,000 and a surplus of $16,128. Moses Schwartz is president.
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The Flurry In Louisville. LOUISVILLE, July 26-A memorable day in the history of Louisville has just passed. The Merchants' National bank posted a notice of suspension, and half an hour later the failure of the Louisville Deposit bank was announced. By this time half a dozen banks in the city were being run on by depositorsmostly small sums. They all stood the pressure except one-the Fourth National -which closed its doors in the board of trade building. Excitement was running high, and every one of half a dozen banks was crowded with depositors, who were in line waiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky National bank on Saturday. Then came the Louisville City National bank Monday, after the intervention of a Sunday holiday, and then the Merchants' bank, the Louisville Deposit and Fourth National.
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Other Bank Troubles. MEDFORD. Wis., July 25.-The Taylor County Bank. owned by Hartman and Matt. assigned yesterday for the benefit of creditors to F. L. Urquhart. The bank was the depository for county and city funds. Assets are given at sconded. $16,000. Herman Matt. the cashier. has abCONNORSVILLE, Ind., July 25.-The liabilities of the Citizens' Bank. which failed yesterday. are about $150,000. Mr. Huston's total assets will reach near $500.000. He holds more than enough collateral to liquidate the total indebtedness of the bank as soon as it can be realized upon. WASHINGTON, July 25.-Examiner Ford has been directed to assume charge of the failed Louisville City National Bank of Louisville, Examiner Escott of the failed Kentucky National Bank of Louisville, Examiner Young of the failed Indianapolis National Bank of Indianapolis. Examiner McDonald of the failed First National Bank of Orlanda. Fla., and Examiner Wilson of the failed Merchants' National Bank of Great Falls. Mon. The Comptroller of the Currency is advised that the Hutchinson National Bank of Hutchinson. Kan., which failed some time ago, is preparing to resume business. The First National Bank of Cisco. Tex., which suspended payment on the third instant. having complied with the conditions imposed by the Comptroller of the Currency. has been permitted to reopen its doors for business. The abstract of the condition of the national banks in Chicago. Ill., on July 12 last. shows the reserve to have been 30.6 per cent. The total lonns and discounts were $81,853,000: individual deposits. $66,000,000; surplus fund. $11,522,000, and gold and gold certificates. $12,500,000. The reserve for Detroit was 24.80, and for Minneapolis, 27.21 per cent.
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A Kentucky National Bank Suspends. LOUISVILLE, July 95.-The Louisville City National bank closed its doors.
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THREE FAIL AT LOUISVILLE. Merchants' National, Louisville Deposit and Fourth National. LOUISVILLE, July 25.-This will prove a memorable day in the financial history of Louisville. At 10 o'clock this morning the Merchants' national bank posted a notice of suspension, and half an hour later the failure of the Louisville deposit bank was announced. By this time half a dozen banks in the city were being run by depositors, mostly small ones. They all stood the pressure except one, the Fourth national, which closed its doors in the Board of Trade building at 10 o'clock. At that hour the excitement was running high, and every one of a half dozen banks was crowded with depositors, who were in line awaiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky national bank Saturday. Then came the Louisville city national Monday, after the intervention of a Sunday holiday, and the Merchants' national, the Louisville deposit and the Fourth national today The failure of the Merchants' national was caused by the withdrawals of country banks and country depositors. The Louisville deposit was the only bank in the city not a member of the Clearing house association and in its time of need none of the other banks would give it any assistance whatever The suspension of the Fourth national was a result of the panic. There has been a steady pulling out of deposits. This changed into a run after the suspension of the Kentucky national last Saturday, and the run continued Monday and Tuesday and until all the funds were exhausted today. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockholders will not be more than 60 per cent. in either case. The Merchants' national bank is capitalized at $500,000, and J. H. Lindenberger is president. The Fourth national has a capital of $300,000, a surplus of $35,000. George Davis is president. The Louisville deposit bank has a capital of $300,000 and a surplus of $16,128. Moses Schwartz is president. The Deposit bank was not a member of the clearing house. It was organized just before the Baring failure, and naturally its career has been a stormy one. It determined to have business; went for it, and in a little while it secured a handsome deposit. Cashier Ohligschlager said to a Post reporter that the bank was abundantly able to meet its liabilities if it could realize on its assets, and he assures the depositors that they will lose nothing. The Banks Solvent. President Davis of the Fourth national was seen just after the closing of the doors. "All the information we have to give out at this time." he said, "is that no one will lose a mill by our suspension." President Lindenberger of the Merchants' national said: "The bank is abundantly solvent, and there is no sort of doubt that the depositors will be paid in full. It is my judgment, from a calm view of the prospect as now presented. that the stockholders will receive the face value of their shares. Had the bank gone on without having to close the realization would have been greater, but even with the disadvantages under which we are now laboring I do not think they will lose anything." The Merchants' national bank of Louisville was organized as a national bank on July 5, 1874, succeeding the Merchants' bank of Kentucky, which had been operating under a charter from the state since Sept. 1, 1860. The Fourth national was organized in 1883. Shortly after the assignment of his bank. President Moses Schwartz filed an individual assignment in the county clerk's office to the same assignee, the Germania safety vault and trust company. All his personal assets are given over into the hands of the assignee. The Sweetwood distillery company also made an assignment by its president, Moses Schwartz, at 12:45 o'clock this afternoon, to the Germania safety vault and trust company. Mr. Schwartz could not say what the liabilities amounted to, and felt too bad to talk about the matter. Jake Schwartz, the liquor dealer, announced today that he had suspended. He owes $70,000, three-fourths of which he says is secured, and with time he claims he can pay off the rest and have something for himself. Lately he did business at Third and Main. He is a brother of Moses Schwartz, president of the assigned Louisville deposit bank. At 1:15 o'clock this afternoon a small run was caused on the German bank by an old colored woman, who had $50 deposited there. She did not have the certificate with her and demanded that she be given her money without identification. The noise she made attracted attention, and in a few moments a hundred people were about. The bank officials sent for Police Lieut. Jacobs and had a strong box, said to contain $300,000, brought over from the Louisville trust company. The money was spread out on the counter and the cashier announced that he was ready to pay off any and all
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THREE BANKS TO REOPEN. : LOUISVILLE. Ky,, Aug. D:-One of the four suspended national banks, the Fourth National. is expected to reopen Monday and the City and Merchants' will not be far behind.
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Suspended Bank Reopens. LOUISVILLE, Aug. 9.-One of four suspended national banks, the Fourth National, is expected to reopen Monday and the City and Merchants will not be far behind.
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Resuming at Louisville. LOUISVILLE, Ky., Aug. 10 --One of the four suspended national banks will resume sooner than was expected and the others will not be far behind. The Fourth national will be the first. Its officers expect to open its doors next Monday, and the City and Merchants will not be far behind.
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Banks Resuming at Louisville. LOUISVILLE, Aug. 26.-The Fourth National bank, one of the five Louisville banks to suspend during the recent panic, resumed business today. The Louisyille City National and the Merchants' National banks will also resume business within a few days.
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Banks Reopening. LOUI$VILLE, _Ky., Aug. 25. - The Fourth National bank, one of the five Louisville banks to suspend during the recent panic, resumes business tomorrow. The.Louisville City National and the Merchants' National banks will also resume business within a few days.
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Bank Doors Reopened. LOUISVILLE, Aug. 20.-The Fourth National Bank, one of the five Louisville banks to suspend payment during the recent panic, resumed business to-day. The City National and the Merchants' National will also resume within a few days.
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Coming Around All Right. LOUISVILLE, Ky., Aug. 31.-Two more suspended banks, the City National and Merchants National, resumed business yesterday.
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More Banks Resume. LOUISVILLE, KY., Aug. 31.-Two more suspended banks, the Louisville City National and the Merchants National, resumed business yesterday.
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Two Suspended Banks Resume. Louisville, Ky., Aug. 31.-Two more suspended banks, the Louisville City National and Merchants' National, resumed business yesterday.