The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-08-30
Bank Failure In Chicago.

CHICAGO, August 29.-There has been
no demonstration at any OF the banks
this morning beyond n somewhat larger
proportion OF deposltors than usual who
are drawing cut their accounts from saw
ings institutions There is n large crowd
about the State INK, but the doors are
closed and guarded bys small detsch-
ment of police. The last report of the
bank, made last July, is as follows:
Mortgage loans on real estate s. ,5O7 ,Ol3;
loans on collsterals, Sl,565,0 ,053; United
States bonds. $4,000; South Park bonds,
b2OS,OO0; county and school bonds,
$lO,5oO; C, sh or exchange S285, ,429;
banking house and deposit vaults, S3l9,-
332, safes and fixtures, $4,000; total re-
sources, S4,4l5,327; due depositors, S37,
1875; capital stock, S500,0OO; surplus
fund. Sl25,000; undivided profits, Sl5,-
452; total liabilities, S4l5,327. This
statement, compared with the one sent
Yesterday afterr oon, shows that during
July and August the liabilities were re-
ducei 81 ,427 900 and the resources ST.
$4,000. 1t is alleged that since the
Juy run begun about $9,OOO,OOO has
been pail out The available sets have
all been converted into cash, and
for the past few weeks vigorous
efforts have been made to raise enough
money among the bankers here to tide
over affairs On Saturday President
Spencer left for New York for the al
legged purpose of raising $500, 600 Moth
ing has been heard from him since that
tine. Just before going, previous to the
close of business Saturday, an assignment
had been drawn up to be used in case
nothing had been heard from Spencer
by three O'Clock yesterday. Prompt
" at the hour the papers were
turned over to Col. Abner Taylor, who
now Is in full possession. The bank has,
under its more recent maj sgem Mt made
some reckless investments ana lost hesv
ily bv them and by the decline in sub
urban real estate. The papers print the
record OF ID. u. Spencer this morning.
aud make bad showing for that gent e
man. 1t is estimated by some that the
dep, >ltorS will realize about 80 per cent,
but on this point nothing definite can os
learned until the assignee reports.
CHICAGO. August 29.-At l:30 there
has been no demonstration of any kind
and there is now no probability of any
q s.urbsnce at the banks. The Fidelity,
which opened two hours earlier than
u>usl. has been paying l5 per cent To- b..
depo,ltors who present books, bu: en-
forces the time rate aS t. the remainder
the amounts deposited. One or two
banks are paying without reserve and
the people who gnther in the vincinty OF
the savings bank and even those about
the State Bank are exceptionally
good natured. The commercial bank.
report no unusual drain. Assignee
TAYLOR reports this morfing more
favorable showing in the affairs OF the
State Bank. He gives ss the assets, loans
secured by mortgages Sl,3SOlS4, by
collsterals 81, ,l69.S55, and tsxes advanced
o1 loans 4242.
CHICAGO, August Z9.-Besdes the
President Of the State Savings Bank the
cashier and assistant cashier are said 10
have left town. None of the officers
have visited the institution during the
dsv The examination of securities has
not yet progressed very far, and var
lous reports as TO the character of those
already scrutinlzed sre current. Moth
ing authentic or official has, however,
been made known. Some days very like.
" will be consumed In looking over
matters preparatory to definite report.