, 1875-08-12
ANOTHER FAILURE.
Tho state Street Savings Bank
Gives Up the Ghost.
II Had a Cash Capital Of S7,000-..The
Deposits Amounted to Ra7, 900.
Dubious Prospects Of q Dividend.

II vAs ,eports1 on tho atreots about noon yea
ksr1ay that tho Gtat0 Htroet Savings l5ank llhu
euFpor.lod. St,mo oxcttotncne WIN protinced ny
\ n,itturo of names which credited tho s'lato
Bnringa institution with tho act alluded so' anu
soet n,,meroua visitors 10 1t Tor information, but
uhen pooplo learned Tint 1t wa1 only tho stato
Btrpot Bank which Ind failed. tbcr interest Busl-
denly aulsnled. Tho Htato bircet BnvinEs Bunk
has always becn considar01 weak In banking cir
cios, aud tho announcement Of itB going un.lcr
was not unexpected by tho other has,ke.
IT WAS INCORPORATED
In 1871 Immediately aftor tho fire, tho principal
stockholders being Enos Brown, G. u. ShpiuAn,
and August Kopaell. mud tho capital stock was
oominally placed at $4,000. Aftor londng n
procarioue oxstonco anu changing hnnds 80 sor-
Il times, It oa.no last May into coutrol ol MIR. Il.
T. Wright. Among tbs aBsots Witch hc received
sAa S39 600 worth vi paper, uost Of it fnr largo
amounts. Ills failure 10 realize on thoso notes
waa the direct causo Of tlo suspension yestor-
day.
Soon after tho lrht rrmor that tho banis llntl
o}osed, a TRIBUNE reporter chilled at tho bauk,
xhcl, IL located Under tho ralmer IouBo, III
search Of tucll information al might
interest tho luckess derositora. nn.t thu
public goltcral1v. Tho bank duorH wore wide
., cu mud thoro Wan no appearance Of anything
out OF tho usual routine Of b'iblneab.
Tw'ASnESa MEN
wese boliit,d tho counter who. upon being qucs-
toned, statel that 1t WA truo tho bank hnu ro-
fneel several chnckA during tho day, bit tile
pEicers expected TO rerunlo pnymentH to-tlhy.
Icing aBked WHO tho o!icers voro, ntitl where
thcy might bo found, tho young men protested
bntire ignorance. Tho reporter took uph prlttc!
circular lying on the counter, Which contained
tho following liat OF Directors W g. HatrinE-
ion, President; Or. Edgar Reading. Vice
President; John =. Sabine. Cashier !ohn
6fonsul j. L. Ackcevcr Tho clerks stated that
tAcao wcFa not tho officers OF the bank,
chaugo ol ownnsalip having recently. takon
pjaco 1l,oy finally sni1. after repeated quc5-
iioniag, tint Mr.. b. T. Wright was tho present
Cashier, bnt 1o was not III.
At about haf-pnst 1 o'clock tho reporter nEnln
eaaletl at tho bank nntl was fortunate onoHgh 70
lind Mr.. Wright who Expressed himself entirely
willing to toll nil that ho knew about tic ai1ait'
Of tho bank. In anHwcr to question rr',"
pounded by TIE TnIpusE representative, MIR.
Wright said that ....
Tlir CASH CAPITAL or TIE coScEnx
when he camo into it wns about @7,0h0. The
rcut OF tho norninn! SaoUUD was cxproAaod by
uotcH OF tho Stockholders, 10 which, however.
no value could 10 attached. Mr.: ]. d, sahil o.
tho former Cashier and principal ftocklsoldcr,
Induced him by falFe approximations, ho
said. to take holl Of tho concorn.
ont 3lr, Babiue. Among tho aasets was 81, ,0Oo
in notes, etc., which wero oil guaranteed by hir'
Babiuo. 1hcHo notes ho has hinco 1onn'! Ia b.
almost without exception worthless, ~, for ia
stauce, notu for over s30oO aEHisst J. l..
Mckceyer, a forulcr Director. slr. Wright eit-
deayoted to raiAc tnonoy to l'cip tho banS a'oUE
and ncnriy eucccedoa In getting Enveral escol
Int parties into 1t. HID they pat their money
In, to claims, tho bank woull 1lavo reuIRlnea
eplvent. Az it ill., lo III tho only loscr, ltiB father
Mr. Crafts j. Wright. having only purchased
ono nllagc ii, order to make himself invaluable AZ
President Of the cunccru. Mr.. Wright further
sAya that
THE DErnstIB
haye greatly DECREASED witl.ia few rnontha, tht
total unount in bank yesterday being at7, uuU
The amount Of deposits last Decenbcr was IT
Cos.ol at 81, ,i05. aud on tho 3Gth Of last JUNO
at 471,672.4s. Truly, ctthor there has been ri
alarming decrease, OF tho proyioua reports wer
incorrectly given. ...- ......,,
During yesterday forenoon, md nccn until
lnto hour In tho afternoon, Alr. Wright va
around town .... .......--
vAlxLY ESDEAvonIHn TO PROCURE ASSISTANCE
To tide them over tue crisis. Wlcn the rnportc
called at half-paat 3, he Ind giron up all hopes
aud was inpt completing an asagnn,ont OF til
bank effects to Mr. lohn G. 6covlll, Of tho ale
Lean County Bank, OF Bloomington, I'll. Late
In tho day tho following notice Has posted upo
the door.
I}ank Closed John D. scovIll, Asrigueo for ho
No. l2s CLARK etrert, Room "A. Due notice vii!
gtven through the daily papcrs.
Tho failure, which WAS considered incvitRbl
By wetl.informea tank pcople, created no aenB1
slon Whatever.