The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-08-30
Bank Troubles in chicago.

CHICAGO, August 20.-There has been
no demonstration at any OF the the banks
this morning beyond u somewhat larger
proportion o. depositors than usual, who
are drawing out their accounts from say.
Ing institutions. Thereis large crowd
about the State Bank, but the doors are
closed and guarded BY small detach.
ment Of police. The last report Of the
bank, made July lst Is as follows:
Mortgage loans on real estate, 81 ,507, ,013;
loans on collateralS, $l,565, ,05S; United
States bonds, S510, 900; South Park bonds,
SOS, 900; county and school bonds, Sl0,.
500; cash and exchange, s2s5, ,429; bank.
ing house and deposits In vaults, $Sl9, 1892;
safes and fixtures, Sl0, 900; total resources,
A,4l5,S27; due depositors, SS,774,S75;
capital stock, S5N000O; surplus fund,
SIPS 900; undivided profits, $l5, ,452; total
liabilities, S,4l5,327.
This statement compared With the one
sent last evening shows that during July
and August the liabilities were reduced
81, ,427 900 and the resources $4,000. 1t
is alleged that since the July run began
about 100000 has been paid out. The
available assets have all been converted
into cash and for the past few weeks Wig.
orous efforts have been making 10 raise
enough money among bankers here 10
tide over affairs on Saturday. President
Spencer left for New York for the alleged
purpose Of raising three hundred thou.
Rand dollars. Nothing has been heard
from him since that time. .JuaL previous
10 the close Of business on Saturday an
assignment had been made up 10 be used
in case nothing was heard from Spencer.
By 3 o'clock yesterday, promptly at the
hour, the papers were turned over to
Col. Abner Taylor, who is now in full
possession OF the bank, and has under It's
more recent management made some
reckless investments and lost heavily by
them and the decline in suburban real
estate. The papers print the record Of
D. D. Spencer this morning and make a
bad showing for that gentleman. It is
estimated by some that the depositors
will realize about 33 per cent, but on
this point nothing definite can be OBJ.
tained until the assignee reports.
At l:30 there has been no demonstra-
tion Of any kind, and there was no prob.
ability Of any disturbance at these banks.
The Fidelity, which opened two hours
earlier than usual, has been paying l5
per cent to all depoSitors who present
their books, but enforce the time rule as
to the remainder OF the amounts deposit
ed. One or two Of the banks are paying |
without reserve, and the people who
gather in the vicinity Of The Savings
Bank, and even those about the State |
Bank, are exceptionally orderly and good |
natured. The Commercial Bank reports
no unsual drain. Assignee Taylor re.
ports this morning a more favorable |
showing in the affairs Of the State. He
gives as the assets, loans secured by mort.
cages 81 ,SS0,lS4, by collaterals 81 ,160,-
$50, taxes advanced on loans 81, ,949. -sss
Beside the President OF the State Say
ings Bank, the Cashier and Assistant
Cashier are said to have left town. None
of the officers have visited the institution
during the day. The examination of the
securities has not yet progressed very far,
and various reports as TO the character
Of those already scrutinized are current.
authentic or official has, how
ever, been made known. Some days are
likely to be consumed in looking over
preparatory to definite report.