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FAILED TO OPEN. PORTLAND, Or., July 27.-The Oregon National bank and the Northwest Loan and Trust company, kindred institutions, failed to open up this morning. The withdrawal of deposits and inability to realize on paper, are given as the cause of the suspension.
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Oregon Concerns Suspend. PORTLAND, Ore., July 27.-The Oregon National and the Northwest Loan and Trust Company of this city, suspended this morning.
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A PANIC AT PORTLAND. The Oregon National Bank and an Allied Institution Suspend. PORTLAND, Ore., July 27.-The Oregon National bank and the Northweat Loan and 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 deposite and inability to realize on securities. George B. Markle is president of both institutions. The Oregon National has a capital of $200,000; a surplus of $40,000, and average deposits of $500,000. The capital of the Northwest Loan and Trust company is $250,000; surplus, $25,000.
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Two Suspensions at Portland. Portland, Ore., July 27.-The Portland National Bank and Northwest Loan and Trust Co., suspended this morning.
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The Oregon National Bank and the Northwest Loan and Trust Company of Portland, Ore., suspended yesterday mornIng.
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TWO PORTLAND BANKS SUCCUMB. The Oregon National and Northwest Loan and Trust Company. PORTLAND, Or., July 27.-The Oregon National bank and Northwest Loan and Trust company, kindred institutions, failed this morning. A notice on the doors says the cause of the suspension is the withdrawal of deposits and inability to realize on securities. George B. Markle is president of both institutions. The Oregon National has a capital of $200,000, surplus $40,000, average deposits $500,000. The capital of the Northwest Loan and Trust company is $250,000, surplus $25,000. The suspension caused no excitement and no appreciable effe : on the other banks of the city. The Oregon National has a paid in capital stock of $200,000. The last statement shows the total resources to be $750,000; liabilities, $450,000. The chief creditor is Multnomah county, the deposits of which amount to about $300,000. The city of Portland has also on deposit about $20,000. J. L. Hartman, assignee of the Northwest Loan & Trust company, filed a statement this afternoon showing liabilities of $600,000; assets, $860,000. Chicago Clearing House Certificates. CHICAGO, July 27.-At a meeting of the Clearing House association today a letter was read from a number of merchants asking the association to consider the
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THE PREVAILING DEPRESSION. Day's Report of Its Effect on Various Institutions. PORTLAND, Ore., July 29.-The failures of the Oregon National and Northwest Loan and Trust company have been followed by a run on the Merchants' National, and the suspension of the Union Banking company. The former met every demand, paying dollar for dollar. This seemed to have the most quieting effect and none of the other banks suffered any trouble at all.
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An Oregon Bank Failure. PORTLAND (Or.), July 31.-The Oregon National Bank and the Northwest Loan and Trust Company, an allied institution, failed to open its doors this morning. A notice was posted on the doors saying the suspension was forced by the withdrawal of deposits and inability to realize on securities.
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Friday, July 28. The Farmers bank of Mt. Sterling, Ky., suspended payment. The Oregonian National bank and the Northwest Loan and Trust company of Portland, Or., have suspended. The City bank of Portage, Wis., has closed its doors. The suspension is due to the condition of the money market. The First National bank of Spokane and the Spokane Savings bank, allied institutions, have suspended. All depositors will be paid. Four houses owned by William Henry and four barns, the property of different persons, were destroyed by fire at Palmyra, Pa., entailing a loss of between $16,000 and $20,000. The Deer Creek cotton mills and belting factory, controlled by the Henry Pearce Sons company, Cincinnati, have shut down indefinitely, throwing 500 hands out of employment. Dull trade is the cause given.
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Kindred Institutions Suspend. PORTLAND, Ore., July 28.-The Oregon national bank and the Northwest Loan & Trust Co., kindred institutions, suspended this morning.
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posits. Bank Examiner Plumle is in charge, and it is believed the bank will resume in sixty days. The directors of the City Savings Bank held a meeting to-night and decided to suspend payment for sixty days. The bank is considered solvent. The deposits are $40,707; assets $151,499. An uneasy feeling prevails. COLORADO SPRINGS, Colo., Aug. 9. - The Broadmoor Casino Company went into the hands of a receiver to-day on application of the London and New York Investment Corporation. This corporation owns $250,000 first mortgage bonds in the casino and there is also a floating debt of $25,000. The assets are $500,000. PORTLAND, Or., Aug. 9.-J. L. Hartman was appointed receiver of the Northwest Loan and Trust Company this afternoon. Two weeks ago when the bank closed its doors an assignment was make to Hartman.
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BUSINESS TROUBLES. A receiver has ibeen appointed for the Nail City Stamping Company, of Wheeling, W. Va. Proceedings have been instigated against the officers who wreeked the Indfamapelis National bank. Fuller Bres. & Co., commission merchants of New York, assigned on Wednesday to C. B. Mulligan. J. L Hartman bas been appointed receiver of the Northwest Loan and Trust Company. of Portland. The statement of the Lasarus Silverman bank, of Chicago, shows liabilities of $1,691,079, and assets $2,521,241. The Broadmoor Casino Company. of Colorado Springs, has gone into the hands of a receiver. Assets are $500,000 and liabilities $275,000. Robert H. Colman, the iron millionaire of Lebanou, Ps., and wife have assigned. Liabili. ties; $3,500,000. The assets are claimed to exceed that amount. Judgments aggregating $60,000 have been ontered against the Linden Steel Company, of Pitisburg, one of the largest concerns in Pennsylvania. Several government cruisers will be delayed in building and receiving repairs, as the Lindens had the contracts for the armor plate.
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Statement of a Suspended Bank. PORTLAND, Aug. 25.-Receiver Hartman, of the Northwest Loan and Trust Company, today filed an inventory in the state circuit court, showing the assets of the bank as $863,511, liabilities $584,971.
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A RECEIVER ASKED FOR. Complicated Affairs of the Northwest Loan and Trust Uo., of Portland. Clars Markle, who in her complaint alleges herself to be a citizen of the state of Pennsylvania, yesterday made application in the United States district court for the appointment of a receiver to take charge of the affairs of the Northwest Loan and Trust Company in the state of Washington. #) This corporation is of Portland, Or., but has heretofore done a large business in other states, acting as an agent for nonresidents. On August 2 it became involved in law suits and was placed in the hands of a receiver for Oregon, the court appointing J. L. Hartman to act in that capacity. The plaintiff, who owns valuable property in Clarke county, has the embarrassed corporation as her trustee. She alleges that the debts of the corporation amount to about $500,000, and that the creditors are about to take steps towards collecting them by actions in the different courts. To such of these actions as may be brought in this state the corporation could make no defense through there being no receiver for Washington, and the plaintiff claims that all the property held by the corporation ns trustee in this state is in danger of being levied upon to satisfy its debts, on which account the appointment of a receiver is prayed for. Summons was issued yesterday and will be served upon the officers and receiver of the corporation in Portland to-day. The Northwest Loan and Trust Company is the mortgagee owner of the steamship Haytien Republic, notorious by reason of the charges of smuggling opium and Chinese, brought against her by the customs officers of the United States.
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Nood River Glacier. HOOD RIVER. OR. NOV. 18, 1893. ALL SATISFACTORY. The taxpayers of Portland recently began an investigation for the purpose of discovering what had become of the county money. Their report appended shows where some of it is at present tocated, and it also shows that some of Portland's banks are now running on the people's money: **** Mr. Malarkey was asked what funds belonging to the county he had on hand, and he said $4,000 in the general fund and $5,000 in the school fund. The question was asked Mr. Malarkey whether he had any county funds in any of the banks. He said not a dollar. He was asked if he did not have some money that could be turned into the school fund. He answered that there was no money other than the $4,000 or $5,000. *** Sheriff Kelley said that he had not been in the habit of making out the report that the committee demanded. We inquired the amount of funds he had on hand, and he went on at great length to explain how the funds got into their present predicament, and showed the receipts for moneys turned over to the treasurer. Of the funds which have not been turned over to the treasurer, Sheriff Kelly reports $168,527.24 in the Northwest Loan and Trust company's bank, $148,717.88 in the Oregon National bank and $2,000 in the Union Banking company, in all $319,644.12. He wasasked why these funds were not available, to which he replied he could not check against them as it would close the * * banks. He said that the banks had promised io raise $50,000 by Decembea 1st for the school fund. "Sheriff Kelly incidentally mentioned that one of the banks carrying county funds sent $40,000 of the county money to Ellensburg, Wash., to hold up from insolvency their branch bank there during the panic. "Upon a second visit to Mr. Malarkey it was learned that he had some funds in a local bank. Mr. Malarkey said they were state funds. We asked him if the state treasurer had receipted for the money. He said no, but that there was an understanding between Mr. Metschan, state treasurer, and Mr. Lowenberg of the Merchants National bank, and that everything was all satisfactory." The reading was interupted at this point by a unanimous roar from the assembly. The report concluded thus: "Mr. Malarkey was asked as to the amount of the state funds, and replied $121,000. He was asked if any arrangements had been made with the bank for the payment of 8 per cent interest that the county was paying on the warrants unredeemed because of the money in the bank. He said that question had not been raised. Then the committee ventured the remark that the people had already raised the question."
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The Fight for the Haytien Republic. PORTLAND, Jan. 20.-In the United States court Wednesday counsel for the Northwest Loan and Trust Company appeared before Judge Bellinger with an order directing the United States marshal to turn over the steamer Haytien Republic to J. L. Hartman, receiver of the Northwest Loan and Trust Company. Counsel stated that this was in conformity with the mandate of the United States circuit court of appeals, directing dismissal of the libel against the steamer by the government. The judge signed the order and the United States marshal delivered the steamer to Receiver Hartman. On December 21 the Kodiak Packing Company, of San Francisco, filed a libel against the Haytien Republic, on which a warrant of arrest was issued and placed in the hands of Marshal Grady to serve. The marshal declined to serve the warrant at that time, under advices from the United States district attorney, on the ground that the vessel, being in the hands of the United States was not subject to process in a private suit, When Judge Bellinger issued the order directing the marshal to turn the vessel over to the receiver of the Northwest Loan and Trust Company, Mr. Grady turned the vessel over and then served the libel of the Kodiak Packing Company. Mr. Wood, in the United States court this morning, outlined the facts in the matter to Judge Bellinger, and expressed doubt as to the validity of the libel of the Kodiak Packing Company and the jurisdiction of the United States court over the vessel after she had been turned over to a receiver in the state courts. Judge Bellinger said that If the order of court was not in conformity with the mandate of the circuit court of appeals, then he had been imposed on. He called for the mandate, which he compared with the order, and finding that the matter had been misrepsented to him, annulled the order directing that the steamer be turned over to the receiver, which validates the Kodiak Packing Company's standing in the case. The Kodiak Packing Company claims to be the owner of the Haytien Republic, and asks that the vessel be delivered to them and that the Merchants' Steamship Company and the Northwest Loan and Trust Company be required to pay them damages and costs. The vessel is now in the hands of the United States marshal, under the Kodiac Company libel.
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PORTLAND MONEY TROUBLES. Portland, Oct. 30.-The stockholders of the suspended Northwest Loan & Trust company had a heated meeting tonight. Resolutions were passed asking for the appointment of a new receiver. An investigation of the bank's accounts shows that the depositors will receive fifty or sixty per cent if the property is properly managed.
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OPIUM SMUGGLING TRIAL. Portland, March 12-June 3 has been set as the time. for the trial in the United States court of C. J. Mulkey, Wm. Dunbar, P. J. Bannon, James Lotan, Seid Back, and others, for smuggling opium. The attorney for the receiver of the Oregon National Bank has asked Judge Stearns for authority to sue the receiver of the Northwest Loan and Trust Company for $65,000, the amount of a fifty per cent assessment on stock of the Oregon (National Bank, asked for by the comptroller of currency. The Northwest Loan and Trust Company is owner of 650 shares of the Oregonial National.
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Portland's Broken Banks. Portland, March 12-Comptroller of the Currency Eckels has ordered Receiver Catlin, of the Oregon National bank to levy an assessment of 50 per cent. on the stock of the bank. Receiver Catlin today petitioned Judge Stearns, of the state circuit court, to be allowed to Eue the receiver of the Northwest Loan and Trust Company for 50 per cent. of the value of 1,300 shares held by the latter company.