The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-27
The Suspension Accompanied by the Sudden
and Serious Illness Of Mr.. Riddle,
President of the Institution.
Impression that the Bank viii Now Be
Forced To Go Into Liquidation.
The Ex-President of the Marine Bank Re-
leased on Bail-lIis Attempt to Dis
credit General Grant.
A SECOND SUSPENSION.
The Penn Bank Again Closes Its Doors
Critical Illness of MIR. Riddle.


Critical Illness of MIR. Riddle.
PITTsBURG, May 26-The Penp Bank closed
its doors again at II o'clock to-day, and posted
the following notice
'.DIr. Riddle, the president and chief executive
officer of the bank, having become suddenly and
seriously i'll and unable to communicate with the
board of directors, it is deemed proper to close
the bank, under existing circumstances, until he
sufficiently RECEIVERS to be present during the ad
justments of its affairs. By order of the board
Officers were placed in charge, who refuse to
permit an audience with any of the board. There
is great excitement.
The news of the second suspension spread
rapidly and created intense excitement and sur
prise, owing to the fact that everybody had
faith in the banks ability to pay all claims
against it The immediate cause is at present
unknown, and nothing definite can be learned, as
the directors positively refused to be interviewed
Large crowds have been focking to the bank,
and the pavement in front is filed with anxious
depositorS and persons attracted through curl
osity.
President Riddle appeared in his usual health
at 10 o'clock this morning, but half an hour later
was prostrated with hemorrhage of the lungs
and since then has had three repetitions thereof.
He is lying at the Duquesne Club
rooms, unconscious, with only slight
hopes of recovery. Close friends Of Mr..
Riddle are unable to give any explanation of the
sudden turn of affairs. 1t is said, however, that
there has been a heavy run on the bank this
morning, principally by checks, and that $500,
600 was drawn in this way. The crash
is brought about by the clearing
house throwning out checks amounting to $3.50,
O0O. According to the statement of the directors
the bank had raised 1891, 600 to pay liabilities of
$9lS,00O. 1t is said there were 1900 900 of certi-
fed checks out, which were not included in this,
and which had to be paid The banks which
loaned the suspended institution funds to tide
them over are amply secured.
The cause of Mr. Riddles illness is an over
dose of morphia or chloroform, taken this morn
ing Physicians are endeavOring to relieve him
of the medicine.
When it was discovered that President Riddle
had taken an overdose of chlOroforn great excite
ment prevailed and the Duquesne Club build
ing, where it had been taken, was beseged by
anxious inquirers after his condition For a
log time the physicians were unable to tell
whether he had taken morphia chloFoform. A
stomach pump was brought into requisition
and this evening the patient recovered
| consciousness. 1t was learned that he had been
attacked with severe pain in the side this
morning, and while suffering intensely had taken
an overdose The physicians say that he will be
able to attend to business in a few days when it
is expected he will make full statement of the
condition of the affairs of the bank.
The directors have been in session since the
doors were closed. but refuse to say anything
whatever concerning the suspension to-day. All
sorts of rumors are afoat but none are authen-
ticated. One is a re- ewal of the report that the
bank lost heavily in oil speculstions
another that there has been heavy defal-
cation, and that the doors were opened to
allow certain depositors to withdraw
deposits Bank officers generally are dumb
founded by the turn affairs have taken, and pro
fess to be entirely ignorant of the cause of sus
pension. The impression given out was that
there were ample funds to meet all demands and
continue the business. The feeling tonight is
that when affairs are investigated there will be
no alternative but for the bank to go into liQuida
ton.
The directors meeting adjourned at a late hour
tonight Those interviewed stated that the
books were being examined, but they We're not
yet prepared to make a statement.
DR.: Sutton, the attending physician of Mr.
Riddle, says the latter is subject to acute non
ralgia, and when attacked took what he sup
posed was a mixture of hydiate chloral, but
which subsequently proved to be chloroform.
There was no liable on the bottle After the pa
tient revived he casually remarked, "How's the
bankl" and and Dr. Sutton replied, "All right.
Dr. Sutton says Mr. Riddle has no knowledge of
the present trouble.