St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-27
PANIC AFTERMATH.
President Riddle, of the Pennsylvania
Bank, Takes an Overdose Of
ChlOrOfOrm.
The Bank Again Closes Its Doors, and Pitts
burg Gets Excited Again.
Here and There Failure in Other Places
The Situation in New York.

PITTsBURG, May 26.-The Pennsylvania
bank closed its doors again at 10 p. m. to-
day and posted the following notice on the
| door: "Mr. 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 ex
| isting circumstances until he sufficiently re-
covers to be present at the adjustment of its
affairs. By order of the board. Officers are
placed in charge who refuse to permit an
audience with any one of the board. There
is great excitement.
| The news of the second suspension spread
| rapidly and created intense excitement and
surprise, owing to the fact that everybody
had faith in the banks ability to pay all
claims against it. The immediate cause at
present is unknown. Nothing definite can
be learned, as the directors positively refuse
to be interviewed. Large crowds have been
Hooking to the bank, and the pavement in
| front is filled with anxious depositors, and
! persons attracted through curiosity Presi-
dent Riddle appeared in his usual health at
10 O'Clock this morning, but half an hour
later was prostrated with hemorrhage of the
lnngs, and since then has had
three repititions thereof. He is lying at the
Duquesne club rooms, unconscious with only
slight hopes of his recovery. Close friends
of Mr.. Riddle are unable to give any expla-
nanion of the sudden turn of affairs. 1t is
said, however, that there has been a heavy
run on the bank this forenoon, principally
| by checks, and that $3.50, 900 was drawn this
way through the clearing house. The crash
was brought about by the clearing house
fhrnxt rir1fr oh To
According to the statement of the directors,
the bank had raised 1881, 900 to pay liabili-
ties of 1913, 900. 1t is said there, were $780,
600 of certified checks out which were not
included in this, and which had to be paid.
The banks which loaned the suspended in
stitution funds to tide them over are amply
secured. The cause of Mr.. Riddles illness, is
an overdose OF morphia or chloroform, and
taken this forenoon. Physicians are endeav-
oring to relieve him of the medicine.
A LATER REPORT.
When it was discovered that President
Riddell had taken a narcotic, great excite
ment prevailed and the Duquesue club build
ing where he had been taken was besieged
by anxious inquiries after his condition.
For a long time the physicians were unable
| to tell whether he had taken morphia or
into requisition, and this evening the patient
has recovered his consciousness. 1t was
learned that he had been attacked by severe
pain in the side this morning, and while
suffering intensely had taken an over dose.
The physicians opinion is that he will be
able to attend to business in few DAYS.
when it is expected that he will make full
statement of the condition of the affairs of
the bank The directors have been in ses-
sion the doors were closed, but refuse to
say anything. All sorts of rumors are
afloat but none authenticated. One is the
renewal of the report that the bank lost hea-
vily in oil speculations, another, that there
has been heavy defalcatiou, and that the
doors were opened to allow certain depos-
tors to withdraw their deposits. The bank
officials are generally dunn founded by the
turn OF affairs taken, and profess to be entire
ly ignorant of the cause. of suspension. The
| impression was given out that there was am
pie funds to meet all demands, and to con-
| tinue business. The feeling tonight is,
| that when the affairs are investigated, there
will be no alternative but for the bank to 90
| into liquidation.
The directors meeting adjourned at late
| hour tonight. Those interviewed stated the
books were being examined, but they are not
| yet prepared to make a statement DR.. SUIT
ton, the attending physician of Mr.. Riddell,
| says the latter is subject to attacks of acute
| neuralgia, and when attacked took what he
supposed was a mixture of hydrate of chloral
but which subsequently proved to be chloro-
form. There was no label on the bottle
After the patient revived he casually remark
ed, "How's the bank?" and President Rid
dell replied, GAN right when I left" DR..
Sutton says he has no knowledge of the pres
ent trouble.
OIL QUIET.
PITTsBURG, Pa, May 26.-The announce
ment of the closing of the PENNSYLVANIA
bank on 'change did not in the least affect
values, and after reaction of half a cent,
the Oil market rallied, and closed strong at
7415.
RATHER HEAVY ONE.
NEW YORK, May 26.-Insolvent schedules
of William Pinckney show liabilities, S177,-
600; nominal assets, 1927, 600; actual assets
$43, 900.
AMERCKANT FAILURE.
New YORK, May 26.-The firm of Reid &
Smith, merchants, made an assignment to-
day. Preferences are given the Falls Coun-
ty bank Of Texas, but the amount is not
stated.
An injunction has been granted in the
suit of John H. Sheafe against o. NJ. Rogert
d Co., and others, restraining the defend
ants from parting with or transferring three
certificates of 100 shares each of the Lake
Shore d Michigan Southern Railroad The
plaintiff alleges he deposited the stock with
Rogert & Co. to hold for his account.
MINOR MATTERS.
BosToN, May 26.-Tilden G. Abbott, late
cashier of the Market National bank, Water
town, to-day was indicted for forgery and
embeZzlement
New YORK, May 26.-The West Side bank
officers claim they will shortly resume Moth
ing is known of the whereabouts of the de-
faulting teller, Hinkley.
MILWAUKEE, May 26--Strong's bank at
Green Bay closed its doors this morning. No
particulars.
DENsoN, Iowa, May 26.-The Crawford
county bank, which has been considered one
of the strongest in the western part of the
state, closed its doors this morning. The
assets and liabilities are unknown.
Great Reduction in the Price of Fuel.
The Northwestern Fuel company have reduced
the price Of coal, and are now offering best
quality of Scranton coal for present delivery and
cash as follows:
Crate and Egg at $3.50, delivered
Store and Nut at SS.75, delivered.
And all grades of Bituminous Coal at proper
tionately low prices.
The California Delegation Coming.
SAN FRANCISCO, May 26.-The California
delegation to the national Republican con-
vention at Chicago, left by special train
this afternoon via the Central and Union
Pacific and the Chicago and Northwestern.
The delegates and party number thirty-five
The Nevada delegation will be taken aboard
an ror1tp Two hundrad ovour,;o,;.4