The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-07-18
Financial Situation In St. Louis.

were unloaded.
Financial SituatiOn In st. Louis.
ST. LOUIS, July l7.-This morning
business al the banks opened with
brighter prospects, and up to the hour Of
eleven o'clock nothing OF special note had
transpired. Very ,ew people: not more
than half-dozen at any one time, have
been at the Fourth National and Provl.
dent Savings Banks presenting checks,
which have been promptly paid. The
run seems to have stopped, and II Is
hoped there will be no further excite
ment or trouble. Still il cannot be said
what the day Will bring forth. The
officers of the North st. Louis Savings
Institute assert that the assets OF
that bank exceed the liabilities
fully Sl50,O00 and that they
can be pretty easily realized upon. The
deposits amount to 5000 600. The bank
will 90 into liquidation. 1t is said that
Fisher, HlluIback " Co, of Cincinnati
had considerable sum in col: in the
bank when it closed Mr.. Merrill, Pres
ident of the Bank OF 1t. Louis, says that
the bank will pay deposltors every dol
lar. The current deposits are about
$1,000, and time deposits S33 600, with
assets more than sufficient 10 pay sII.
The bank had isrge amount OF New
York exchange. which It could not dis
pose of, but 1t could have pulled through
had not the North st. Leuis Savings
closed, locking up $4,000 OF It's clear
ings
A pretty well authentic stcd report ha-
lust come down from the extreme north
ern part of the city that the Bremen
band has closed. No particulars can be
given at this writing. The run on the
down town banks hay be regarded a
stopped The endorsements OF the thirty
days notice rule, yesterday, regarding
time certificates, seems To have effected
this result and ~ the small current nc-
counts in The savings banks nave mostly
been drawn out, the excitement ha.
about subsided, and business is progress
ing again in Its regular channels.
81 LOUIS, July 1.-THE report about
the closing of the Brewers Savings
Bank has proved to be true The bank
did its cearlngs through the Franklin
Avenue Savings bank, but assurances OF
further accommodation from that sOurc"
not being forthcoming to-day the directors
held meeting and adopted n resolution
declaring that in view OF the require
ments of the new State banking law and
the present financial distress, and in duty
to the depositors, the bank would suspend
for a period of ten days with view to
final liquidation The original capital
was 100000, but this WAS reduced some
time ago TO $4,000 by reason of bed
securities The deposits amount TO about
100000, including $1,000 time depos-
its. The assets are placed at $3.50 1000.
The officers OF the bank say the deposit
ors will be fully paid. The run to-day
WAS very light, and long before the close
If business hours it had practically
ceased. 1t seems the furry Is entirely
over, and there will be 10 further
trouble. 1t is expected that business t.
morrow will be resumed in its regular
course. The statement that Espy, Held
elbach i Co., OF Cincinnati, had consid-
ersble money in the North ST. Louis
Savings Bank when it closed yesterday,
has proved false That house is debtor
in n small amour: TO the bank, instead
! of being the creditor.