, 1877-11-22


him large prrc for his .tork,-s"rncwhcrc in
the ncfElIlr'rh,.l ot la,,-aI'd settling un with
him. liz went nnl hought the Manufacturers
Ills etock to til nriuclpa' Stockholders Of the
Third. Mr. 1Iolmes went out with con-
tncrahlc money, aLl I"ft considerable
lot Of debts behind iIltn.-lnti 1Glt'cr.
Thc Manu[ncinrcrs' alsn fell during Tue rani.
II wns or'c of tiaEc's Repositories. anl tho cify
Thir, Nn,tnaI g,,t along very we'll, reenverrl
safcly frm Itt ioss,-, tl,aruc,i III its la paper,
and increased It's surplus until tlc Ercat
F1nE or ocronEH, 1911.
orie"e'sa osfes e.y severely e'"'e seorce 5 n n @ ,s
why: many of It's custo'neEs-t'orrowcra
were crippled, md sor'c broken. and
sumo demorafEzctf. But the bank went an, still
doing prosperous business between that perl
od and The panic. mid 50 recovering from tho
lostct Of the fire fly npplyt'E considerable por-
tfuns Of It's earnings tn Wipe oil Its lad paper.
The panic atrtsck .'own large number of those
such fiscal condition that theY have mt bern
able to repay tic advances the hank made
them. The bank has been Obliged, since 1911,
to ayccpt
lAnoE QUANTITY or REAL EaTATg
rs security fur, IN payncttt uI these claims
that II held against 1n,!isiiuaEs, i'c.trrGt! pfe-
vlous IT. The panic. Much NJ the teal estate
klHt NN$ kAE1fEt4 WV III FCIubht u bht" tIIei
obliged to a,ccut In payment, as Il consisted Of
MI The available assets that The tlclJtuts lIad.
The bank has tia! Icat cstate on its l,a'n1', pay
inG taxta III It. while mast tf # ts Ehstnfroych.
tiuilaI VIVA Obliged 10 suspend, at
the same time that the un.un National and acv.
rral .,thcr ln.nhs aasrcin'cd. Hut i Fc.
u course, gave The confidence oi the pahl!c ~
tllc hank ntloek frun wlsieiI, II may bc fnttlY
snnI, te bank never fully retosercd IL lust tts
fHslliOn III consequence uf tlat temporary aus.
ier,.l.rp, hcni. ut that tlnc the s.gund Or third
strongest tank im the clty, tho Gniun being lale
hrRt. ....
"rng lMMEntArE CA,'ss or Tils EusrKNsloN
last evening yrGw Unl uf tic fa;t tit THE bank
out within Ii lev weeks pass: Thy bank f''l
quarter Vt n!tlisit u Suuth lark n!uncy. atitl
In round numbers half II nllIoh VI Luz Culnty
1rcasurrr's. That ftas t,een nearly all drawn
tareely cut down thu easll OH hand that It was
felt by the 1Ioar1 of Directors that something
must bc ,lot,e ~ rrslotc the tasll tcaiis of thu
bank. with that view, application was made u
son,e OF tic banks fur
TEMPORARY AsslsrANcE,
enough to take tthe bank safcty through thc
hninlys, mud unit! It would collect trof Its on
SOURCES. But at the last moment the t,cysfsarv
asaEstancc vas refused: The basiks npnItcd to
cryation. Eac,l one felt that Il required its own
nlcans for Its own protection Il, tue present dis.
turl,c1 statc Of tho public mind IN regard to
tlnancc, u,,l none nf then, were disposcd to
pnrt with enough money to relieve It's rcccssl'
| tics.
"some, ,ofthc Directors callc.l on The Clearing
| House to make an examination Of tho bank,
| which they dill nnd It rcstllte. not In furnish.
luz assistasc to the lmnk, by! IN s'ispcnd!i'g It
| from tho Clearing. g.!luusc. When thu officers
| werc notified this "Wednesday cyenln. uf this
acttut they felt TINT 1t was useless to opcn tllc