The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-11-21
ROATON RANKs.
Another bank Temporarily shuts Up
khOD,
adjourned

BosTON, November l9.-The Central
Bank has suspended the payment Of
checks, temporarily, in order to give the
Bank Examiner an opportunity to ex:hn-
inc the accounts, There is no suspicion
on his part Of anything wrong, but the
measure is simply precautionary one,
1t was limited on the street and in Wash
inglon dispatches yesterday that the Cea-
tral had some OF the questionable paper,
which had passed through the Pacific
Bank, and last evening some Of the bro
kes predicted trouble at the Central to-
day,
The more conservative financial hackers
did not share this lack OF confidence, how
ever The Directors, however, resolved to
be prepared for any emergency, and
opened this morning with over $500, 900 In
ready cash 10 meet all demands.
The run began as soon rs the doors
opened, and by II o'clock the bank was
crowded with depositors, These were all
accommodated rs iast US they could bc at-
tended without u question or comment.
The Bank Examiner, however, thought
best to suspend operations OF this kind for
the moment until a full opportunity for
consultation revealed tho resources OF the
Boston banks, and shortly after II o'clock
payment was stopped, The bankers and
directors are in consultation, and havO re-
solved to do all that Is necessary to meet
tho emergency. In the meantime addi.
ftNN Ia a. "a In n NyuIN
Of tho Central bank preparatory for prompt
payment, as soon rs the Examiner gives
his consent, .I
NEw YoRE, November 1D.-Special dis
patches to lIradstrect'ssay that the sllspen-
sion Of the Pacific National Bank Of Bos-
ton was caused by the operations Of Thco.
dorC Weeks, the wcll.known stock broker,
who, about n year ago, was very snccessin
in his operations in Boston, Hartford and
Erie stock and bonds, making Mt that time
about $350,000, which gave him the conf
denCe OF number OF prominent banks to
carry out his operations In eastern railroad
stock to the extent Of three or four million
dollars.
lie used u number Of the bnnks-the
PaCitlC to tho amount Of 100000. One
other bank Is said TO be interested to the
extent Of S5OO,OO0, and still another for
less amount. The lust two aro understood
TO have made arrangements to pull
through. II Is thought that the Pacific de-
positors will be paid in full, the loss falling
on the stockholders. The bank was never
admitted to the Clearing House, but clear.
ed its checks through the Elliott National
Bank.
One Of the directors Of tho suspended
bank, in conversation, said that the cnuse
OF the temporary trouble was that large
operator had been allowed to overlraw his
account to large amount. This caused
an exhaustion OF the cash on hand, but
still the necessity for suspension was
surprise. Complete arrangements have
been made whereby funds were to be In
readiness to meet the checks Of dcpo5-
itors, but these arrangements had
failed to be carried out promptly
enough, and the result was that what
would have been suspension for an hour
or two, was noised about until n run was
innuguated, which, for moment, the
bank was unable to meet. No dcpositor
could lose his money, and there was no
doubt but the bank would resume business
Immediately. The only damage would be
whatever loss Of confidence would result
BOsTON, November 1913 y. M-The
Central National Bank has resumed pay
mcnt,