The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1883-08-11
FINANCIAL TROUBLES.
Two indianapolis Banks Temporarily
Suspended Capitalists TO the
Rescue.

ISprAYArnrI-, August 10. Lnrgc
crowds gathered around the First Ma.
uunal bank and the Indiana Banking
company one hour before opening time
tins morning. At0Ij the doors NJ both
banks were still closed The announce
mrut hus Ju4t been made that they will
3 at open for two or three hours The
directors Of the Fir.t NntioY al aud sew
eru large and Influential capitalists Of
tins state met Ht > o'clock this morning,
and are stll IA session, but II thing has
been made public IA to the result uf the
conference.
LAtEH,-Both Of the suspended banks
remH II closed. The following notice ~
posted on the door ~ tho First Ma.
tlOnal "rhe bon ~ dircr' urs arc m
session considering what IL best to bc
done, but have not yet arrived ut con.
cluHon." The board Of directors Of tho
First National bank have adopted rcH-
olution at their meeting this morning 10
double thu stock Of the bank SSOOOOU
provided the syndicate headed by Mr.
Depcw and Mr.. English, waH formed to
take the management aud controlling
interest III the bank. A pHpcr wua
drawn up to this effect, which wuH Hign-
ed 10y all the directors and stock
holders prcreut, and committee was
hppulute to get the consent ~ the
absent -tOckholdrrH. A auou hs this
consent IL gained IT liz understood thHf
/ new aud strong purtes will cone into
+ th" concern that will make It one uf the
strongest institutions III the countr
/ n may tnkc II few dHys to do this and
gather IN the required amount ~ cur
[ rcHcy, but II may be- done ~ few hours.
/ The other bunk held Meeting til.
morning, aud agreed that II the pro-
posed syndicate WAS formed they would
afford all the assistance to TIN
/ first nat unM bnuk TINT might be
required It may be said, therefore, that
/ whilst it IA unfortunate that any trouble
occurred, there IL really no rcnspu Tor
alarm, aud that ultimate good mny re-
suit from itIu giving the bank increased
-trength, Very little information has
been obtained IA 10 what the Indiana
linnh may do, but 1t " probable they
will be able to esume also M very
short time. Ihoro huH boon no cxtrAur-
binary demand on any ~ the other
banks for funds 10 day.
". II. ENGli7n TO TnE fR'Nr.
ISpIANArolI-, Ind, August O-'Ih,
conference between the directors of the
Flr-i National bank aud the English.
- pew syndicate ended. Between tNU
and three O'Clock, tie doors Of the ban /,
were opened and w II. English APPEAR d
inviting dcppsi'Or- to come In and gDt then
, money. The crowd outside rushed IN
but were checked by the police and ll3lc,
were gwen the preference" re bank
continued open tor nm Lour or NOR,
r after the closing hour ana all check
D presented were promptly caghed. Bu
r fow Of the larger depo-Itors drew thci
money. II III understood that prelimi
nanes Tor the reorganization Of the bauI
with double Of it, former capital nay
4 been fully agreed upon, aud wi be per
fected IN speed ~ as possible With Eu
glib IA president. Other banks wer
fully prepared 10 meet any emery ne
9, that might Hri c, but thore has boon u
r excitement or run during he entire day
4 The Indiana Banking company has 10
resumed.