, 1879-08-08
Schedule OF the Shareholders OF
:. -. the Rotten Concern.
Probability TINT Two or Three Smaller
Banks ltaye Bccn Scnttlcd.
Fearful Destruction Of Life and Prop
~ erty by Tornado.
A Largo Budgot Of Items from Every
Quarter Of the Dominion.

xeus collected abnut tlIe doors. somo drawn BY
flc curiosity, ami o,,ers by their Interest In The
Insulation. The suspension was rather uncx-
pcctcd, and caused good deal OF surpr'sc, In
dslnnctl ~ Il was thought tho heaviest of
the "sun" bud pasaed. It was pretty
generally known In financial circles TINT
tic drain on the resources Of tho
bank ainco tho failure of The Consolidated lad
beon very great, but tho feeling Of hpprehcn'
sion Wien the bank cloRoa yeatcrlav afternoon
WIS tarncly removed. The Exchange Bank was
established In 1871 with capital Of e1,0oU,ooo.
fully paIl up. It tad branches In Hamilton,
Exeter, Brussels. Aylmer, aud Parkhill, Ont,
and 10 Quebec md Bedford, III this
Province. Public confidence was first scrl-
ously wcakoncd by tho disclosures at
the Into annual meeting rs to the
losscs by the abscend!ng easlseF, md in loans
on stocks tllat lad dcprrcatcd In value below
the amount advanced Oh them. a steady with
ilrawal OF the deposits mud return Of the ctrcu'
1at!on haye been Gong on within the past TWO
Or three weeks, 80 tint tho liabilities OF tho
bank l.ave boon reduced from St,9o3,0o to
saOO,0o0 at present. up to 10 o'clock
this mosuing the Directors OF the bank
were determined, II possible, to carry their IN
stlll.tion through at all hazards. They had
about week previously obtaiucl losn OF
100000 on collaterats from tue Bank Of Mon
trca1. This sum wns exhausted In paying dc
poal1s and rotIrlng bills. The amounts ti!s.
burscd Yesterday at Tho head oflIce and branches
was S91,0O0. A meeting of the Directors was
held bcinre banking hours t1lts morning.
when IL wAs rusnved TO andy to. the
I'd apply to thu Bank OF Montreal aul Bank of
British North America jointly fos further loan
df $4U10Q0, Mr., f. X. Htecn, onc. Of the d.
confer With a the General Managers Of tue banks
mentioned and ascertain ii they would grant the
decomposition. s,ussrs. Angus aud Urind1ev,
tho gentlemen referred to, at once agreed to
9lvo thc amount nnttcr tue io'lowing ex~
press stipulattons: First, tat a guarantee
s.putl be rlvcn to wind IN i},c Exchange Bank
within tbres months: seropd. to rive accept-
"'.''''' ."ts1 -.
al,'e co''atesn. security @,"', tarolS' that t'e
Directors pledge thetr individual security Tor
tic loan. On reporting tho tcrtl,s tho Directors
rnnsilered. n. 1Inuitfottnu wus reoujrcd. they
had h,,trr ato, 1T mr.. nu1 1aonb,n,a ,b.m,
naa oetter atop NJ onee una !'lu"to'e 'ae'''
9clrcs, thereby saving the heavy lnttrcst they
would have to pay, And prevent tho lnconycnl-
cnrc OF banding oVur tlcir securities as col,at-
the bank to ara" ulc1r lnaas' u'tfe was no time
1or iurtheF DaTleY' atlu III olae9 "as 'ssacu u
once 70 snspehu. inc suts1cn oe1er"ihatioh
arrived a. 1ooR eFeFS ono oy surprise, ~ the
U'Fcctoss Inu oeeh previously 'oud III tneiF
psotcstatlona 10 carty thelt nafS tnf.'usn "ita
u'"s to'o'". lug uo"e'a, "A1"
t.'e oahAe 4'ou "ho''' NV o.eou'Aoou'
uoh "m sousnt "eso 40 Na"ea w.
~ so"uoeu ~ tus 'Ssu,s no otae' peore'
4Nes1 a's Nv Iasts, "..a .a!' w.. ~, Wv
ere''.'si5 'nSo"s1ssnt ae''oa ~ ".e - ..:
WY, ~ naas W muu''oseu' W. ,o'a n''ns n,,, .nau
=. ..'e ""eu ~ "o nr-a' e'o,", "e
~ Wv p.as'.. aa,eno.us's u'a 'ne nut''ues ~
a''eS net" ~ 4'1 .'a' ~ lae ta'' "'aa1' 'neos
~ "s,p' N'o. oo '"n,u, n, " au,s', a"a1ss'
oa9'ss o.ma ~1' a.n' w., s'nt' ,.t
o'o' ~. W. -, os"s'o' o'o' 4Ao"'aS n.m ~
nn' W' INV ", ~, a.. Ha"i,, IT. ~, 70, E.
y. feeu' w !a'' Dttc'ol7}' tno''1as ""1o"'
lao; tne eua MuIual insurance eo'npanY' t'e
Johh fhnG estatc' tne iioI' =. D. hoo'cfi the
iion. !homas nSah' Aouis t.oc!' 'onn fratt'
II. Nasi'' IN trnat' Joseph hehay, all VI thls
city; Robert slulr of London, t'ueland, 7. &.
knncar ot lialiiax. fa'r d bcausaleil. q. 3.
Hurt, anl john Fletcher Rigau1, 100 A4ares
eoeh: the Hon. A. T., notsford. nF
x,rtv;1,c n 4. i'm. q Nr.o,,
1*eN'"Ast ~ o'f 'S"f ~ N' N'ei"t