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A Michigan Bank Closes. LANSING, Mich., April 20.-On account of a run on it Wednesday morning, the Ingham County Savings bank of this city has closed its doors for ninety days to savings depositors, under a provision of its charter and the state law entitling it to that time.
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A RUN ON THE BANKS. Lansing, Mich., April 19.-Owing to uneasiness created by the financial difficulties of the Lansing Lumber Company and Lansing Engine Works, a run was precipitated on the Ingham County Savings Bank this morning. The doors of the bank have been beseiged all the morning. Finally the management decided to avail themselves of the legal provision allowing them to require ninety days' notice on savings bank deposits. This gave decided relief. The Central Michigan Savings bank closed yesterday, and, will, it is said, have ample funds to meet all demands. The deposits aggregate half a million.
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Ingham County Bank of Lansing. Mich Closes Its Doors. LANSING, Mich., April 27.-The Ingham County Savings bank is closed and in the hands of the commissioners of banking Very little is known of the cause, the bank officers being very reticent, It is said the closing was caused by the failure of the Peninsular Savings Bank of Detroit. to keep its agreement to furnish the Ingham Bank with sufficient currency to do business. The closing of the bank was due to the inability of its officers to realize on some securities. The bank commissioner claims there was no necessity for the suspension.
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RUN ON A BANK. Uneasiness in Financial Circles in Michigan. LANSING, Mich., April 19.-Owing to the uneasiness created by the financial difficulties of the Lansing Lumber Company and the Lansing Engine Works, a run was precipitated on the Ingham County Savings Bank this morning. [The doors of the bank were beseiged all morning. Finally the management decided to avail themselves of the legal provision allowing them to require ninety days' notice on savings deposits. This gave decided relief. The Central Michigan Savings Bank closed yeaterday, but will, it is said, have ample funds to meet all demands The deposits aggregate half a million dollars.
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THE SIOUX CITY FAILURES. They Brought a String of SuspensionsOther Business Troubles. PONCA. Net., April 27.-The First National bank did not open its doors this morning. All the information that could be obtained in regard to the failure is contained in the following notice posted on the bank door: Owing to recent failures in Sioux City and there and being called on for money due, weate compelled to close temporarily. Deposbe paid as soon as matters can be ad. justed Business men believe that depositors will be paid in full. Storx CITY, Is., April 27.-Ed Haakinon. president and treasurer of the failed Sionx City Dressed Beef Company, and president of the Washington Park Street Railway Company, made an individual assignment today. His assets and liabilities are yet unknown. NASHUA, N. H., April 27.-A number of citizens of Nashua are affected by the closing of the Union Loan and Trust Company. of Sioux City, It is said that $200,to of the company's stock is held here. The belief here is that the suspension is and that no loss will result. BOSTON, April 27 .-The Sioux City Inmement Company this morning, on a judgment obtained last December for $58.is levied on the charter franchises and all other Bridge property of the Pacific Short Line and the River It IS Missouri Company Bridge its Company. successor, understoad that this action is merely precautionary. in view of the recent failures here LANGING. Mich. April 27.-The Ingham County Savings bank closed this morning, and is in the bands of a commissioner of banking Little is known of the cause, the bank officers The failare said to are is have been are reticent. caused by the failof the Peninsular of to an to furnish tros. keep agreement Savings bank, De- the Ingham County bank enough currency to the do business closing The was bank without commissionersays his advice. Rewould have advised against it. All'the bank directors in the city are in confersace The situation is extremely critical.
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TROUBLE IN THE BUSINESS WORLD. The Ingham County Savings Bank, of Lansing, Mich., is still closed. A bond of $100,000 as security was not forthcoming. The United Paper Company, known as the Tissue Paper Trust, has been put in the hands of F. K. Day, of New Jersey, as receiver. Under the fraudulent debtors' act these three attachments were issued against Clark & Keen, insolvent Philadelphia wool manufacturers: For the Springfield Worsted mills, $20,543.62; Howland Croft, Sons & Co., $15,012.09; S. C. Wilson & Co., $2,395.31.
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Savings Bank Closes Its Doors. LANSING, Mich., April 8.-The - Ingham County Savings bank closed its doors Thursday. It is the bank on which the run begun about April 19. About that time Bank Commissioner Sherwood made a speech which calmed the excitement for the time. The closing of the bank is due to its inThe ability to realize on securities. directors attribute the bank's difficulties to the unsatisfactory condition the money market.
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Savings Bank Closes Its Doors. LANSING, Mich., April 8.-The Ingham County Savings bank closed its doors Thursday. It is the bank on which the run begun about April 19. A bout that time Bank Commissioner Sherwood made a speech which calmed the excitement for the time. The closing of the bank is due to its inability to realize on securities. The directors attribute the bank's difficulties to the unsatisfactory condition w the money market.
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A WESTERN BANK TO RESUME. Lansing, Mich., May 7.-The Ingham County Savings Bank. which closed a couple of weeks ago under pressure from a run caused by the failure of the Lansing Iron and Engine Works and the Lansing Lumber Company, will resume business this week. Fifty thousand dollars additional capital has been subscribed, which. with a surplus of $50,000, gives a working capital of $150,000. The closing was the result of a panic among the directors. as the bank was entirely solvent. having ample cash and giltedged securities in the vaults at the time.
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A Michigan Bank Resumes. LANSING, Mich., May -The Ingham County Savings bank, which closed a couple of weeks ago, will resume business this week, The closing was the result of a panic among the directors, as the bank was entirely solvent, having ample cash and giltedged securities in the vaults at the time,
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THE LANSING BANKS. The Ingham County Savings Institution to Resume - Receiver Appointed for the Central Michigan. LANSING, May 7.-The Ingham county savings bank, which closed a couple of weeks ago under pressure from a run caused by the failure of the Lansing iron and engine works and the Lansing Lumber company, will resume business at once. Fifty thousand dollars additional capital has been subscribed which, with a surplus of $50,000, gives a working capital of $150,000. The closing was the result of a panic among the directors, as the bank was entirely solvent, having ample cash and gilt-edged securities in the vaults at the time. LANSING, May 9.-Ex-Auditor General George W. Stone, who now resides in this city, has been appointed receiver for the Central Michigan savings bank. He will be required to give bonds in the sum of $100,000.
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REGROANIZING A SUSPENDED BANK. Lansing, Mich., June 4.-The stockholders of the Ingham County Savings Bank, which closed Its doors five weeks ago. and has since then been in the hands of the Bank Commissioner, have agreed upon a plan which will enable them to reopen in the course of
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WESTERN CITIES-FINANCIAL FLURRIES IN OMAHA. KANSAS CITY AND DETROIT. Omaha, Neb., June 13.-There was a run on every savings bank in the city this morning cipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the Clearing House Association would stand by its members, of which the American National is one. but when the assets of the American National Bank came to be examined, they were pronounced not good enough. and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning, and the crowd which had collected became greatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank. the American Savings Bank, the Globe Loan and Trust Company and other institutions there was a steady drain of deposits all morning. Cash was paid out as soon as called for, and there was no apparent limit to it Toward noon the lines had dwindled until they appeared no larger than upon any day of business. Bank Examiner Griffith. who took charge of the American National for the Controller this morning, could not say much about the assets. A great deal of paper, which is thought not to be first-class, figures in the resources of the bank. The talling of in deposits amounted to nearly $200,000 since May 4. and this has badly crippled the institution. The Dime Savings Bank compellid its depositors to give sixty days' notice of withdrawal. This action. together with the promittness with which the other banks met all demands, is believed to have stopped what almost promised to be a panic. The last statement of the American National Bank, on May 4. showed a capital stock of $200,000: loans and discounts, $531,690: surplus, $16,000; undivided profits, $5,161 : due depositors. 8577,526. The American Savings Bank took advantage of the sixty-day rule and refused to pay depositors. The Globe and Trust Company paid off 50 per cent of the deposits and held the balance under their rules. The run on the Omaha Savings Bank continued in force this afternoon. and hundreds of depositors crowded the bank and the street in front Senator Manderson and Vice-President Kimball. of the Union Pacific. directors of the bank. made extended speeches to the crowd, and announced that the bank was prepared to pay every dollar, but the run continued Kansos City, JULC 16.-As a result of the aus. pension vesterday of the People's Savings Bank, an insignificant institution with deposits of only $25,000. a run was started this morning on the Kansas Safe Deposit and Savings Bank. The bank took advantage of that clause of its bylaws requiring depositors to give thirty days' notice of the withdrawal of deposits. That checked the run, and at noon it was practically a over. None of the other banks experienced run. Just why the Kansas City Safe Deposit and Savings Bank should have been selected for a run is a mystery. If is the largest and one of the soundest institutions of the kind in the whole State, and has the confidence of the banks and merchants generally Nankato. Kan., June 15.--The Bank of Bur Oak. Jewell County. closed its doors yesterday merning. The bank was owned by Halbert Brothers. and the liabilities are placed at $35,000 The assets are practically nothing. C. D. Hulbert. one of the proprietors of the institution, has fled The depositors are greatly incensed, and if he should return. either of his own accord or to answer to a criminal charge, there being some inclination among the depositors of preferring such a charge. he would be roughly dealt with Lansing, Mich., June 3.-State Bank Commissioner Sherwood yesterday applied to the Circuit Court for the appointment of a receiver for the Ingham County Savings Bank, which failed several weeks ago. An order was made to show cause why such action should not be taken. returnable June 24. The bank officers yet hope to obtain necessary subscriptions to the capital to warrant a reopening Advices have been received by Mr. Sherwood from Crystal Falls, Upper Michigan, that the State Bank of Crystal Falls has suspended payment. The bank was organized about a year ago with a capital of $25,000. it had deposits of $60,000. The cause of the failure was the suspension of the Plankinton Bank of Milwaukee Detroit, June 13.-For some time there has been an uneasy feeling in the banking atmosphere of this city occasioned by the numerous failures in savings institutions that have recently occurred throughout the country, especially in the West. Although until this morning there had not been a decided run on any of the savings banks of Detroit, considerable money has been withdrawn in a quiet way. and to forestall any movement that might result disastrously to them. and as an act of mutual protection, the officers of these institu. tions met last night and adopted the following notice to depositors: There has recently been developed in our city an un. easiness among savings de positors. which has been (without cause) directed against some of our -trongest banks To stop the needless withdrawal of deposit. and the lock. ing ⑉2 of currency in time of financial stringency. the undersigned banks respectfully decide. in the event of unusual demands upon them, and to insure equal protection to all their depositors, to require the notice provided for in the by-laws of the several banks We would, there. fore, ask our depositors to review the situation calmly, and accept with patience our action. which is taken in our mutual interest and for the benefit of this community at large. PEOPLE'S SAVINGS BANK. MICHIGAN SAVINGS BANK. DETROIT SAVINGS BANK. CITIZENS' SAVINGS BANK. HOME SAVINGS BANK. CITY SAVINGS BANK. WAYNE COUNTY SAVINGS BANK. CENTRAL SAVINGS BANK. DETROIT RIVER SAVINGS BANKA PENINSULAR SAVINGS BANK. DIME SAVINGS BANK. GERMANAMERICAN BANK. AMERICAN BANKING AND SAVINGS ASSOCIATION STATE SAVINGS BANK. When the doors of the People's Savings Bank,
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will Have No Receiver. LANSING, June 25. Judge Person yes. terday adjourned the hearing on the petition of Banking Commissioner Sherwood for the appointment of a receiver for the Ingbam County Savings bank until July 10. There is practically no doubt that a receiver will not be appointed and that the bank will resume business by that time.
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Trying to Reorganize. LANSING, Sept. 26.-In the circuit court Monday the hearing on Banking Commissioner Sherwood's application for the appointment of a receiver of the Ingham county Savings bank was postponed one week. A determined effort to reorganize the bank, with J. A. May of Howell as cashier, is being made, with every prospect of success. The depositors generally are signing an agreement to take 10 per cent of their deposits per month until the amount is paid. In all probability the bank will resume business within 10 days.