The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-02
WHAT BANKERS AND MERCHANTS SAY.
The View Taken by Prominent Gentlemen of
the Situation Of Affairs.

The View Taken by Prominent Gentlemen of
the Situation of Affairs.
Journal reporter called at the S. A. Fletcher
& Co. banking house yesterday afternoon about
o'clock. The crowd had greatly thinned out.
There was no anxious waiting throng on the
sidewalk, and within the bank there were few
more than are usually found there at that hour
upon any business day. The money was coming
into the bank instead Of going out Business
men were making their usual deposits with
complacency that had a soothing effect upon
the few panic-stricken ones who still stood at the
counters. Inquiry was made of Frank ~
Churchman. senior partner, as to the situation.
''You can say" said Mr.. Churchman, ''that this
bank has not nor has it ever had any connection
whatever with the Ritzinger bank-a matter that
has been misunderstood by many. We knew
this trouble was coming and fully prepared our
selves for it. We have the money and are ready
to meet any and all demands that may come
against u.s. In saying this l do not want to
appear to boast, but merely want to assert the
fact We are ready TO meetthe demand"
Allen NJ. Fletcher, president of the Indianap-
oils Gas Company, was found by the reporter in
the office of the bank He said: II have no
connection with this bank but any assistance
give they certainly will get to the full extent of
my ability, although they have not asked for
any. This institution is perfectly solvent in my
judgment"
Stoughton J. Fletcher ''We are in ourselves
able to take of ourselves. We have had
more assistance proffered than we need
Theodore p. Haughey, president of the Indian
apolis National: 1T is my opinion that Fetch
er q Churchman are amply able to take care OF
themselves, and will pay all demands without
ar hava haG al Aur ho
fore, as senseless and as serious this and have
always come out OF them. l do not anticipate
any other of our banks will have trouble. The
suspension of the Ritzinger bank was not unex-
pected. So far as we are concerned, we have
been receiving larger deposits than usual. do
not anticipate that this failure of the Ritzinger
bank will affect the general business interests of
our city, as the effect has been largely dis
counted; but many persons, chiefly small depos-
tors. will suffer-"
John H. Stewart, president of the Bank of
Commerce: 81 think the Ritzinger failure is the
end of our bank troubles. So far as the run
upon Fletcher Il Churchman is concerned, it
will not amount to much. They will undoubt-
eddy pull through. They have been terrifying
themselves for this for some time, and have
not the least doubt they are amply able to meet
every demand. This run has been caused by
the idea that the Fletcher bank was connected
with Ritzingers. Most of the excitement on the
street to-day is utterly without reason, and in
furious to the interests of our city"
W. L. Gallup. president of the Meridian Ma
tional Bank: 1--WE have had no run. and the ex.
element to day has made little difference to us
| do not think it has brought us much increase
in deposits. i believe this run on Fletcher's
bank to day is all foolishness. They are amply
able to meet everything l have no doubt of it
at all believe they could pay three times
over / am not speaking of their wealth, but /
mean they can pay it now"
" T. Maott, president of the Indiana Nation
al Bank: 'The excitement is certainly foolish.
AS far as Fletcher & Churchman are concerned
there is no doubt of their ability to meet all de-
mands that will come against them. l think this
whole feeling has grown out of the failure of
some of our merchants, which, while surprise
to the general public. was no surprise to bankers,
but were long looked for. l have not the slight
est doubt that matters will soon be better here.
Everything points to an improvement in general
business all over the country, and of course
Indianapolis will share in this Improvement
There will be no boom. but we will have our
share. There is no reason for the gloomy view
of things here that some are now taking. In
fact, the condition of our merchants will COM
pare favorably with the same number of bust
ness mon anywhere in the country"
VIM H. English, president of the First Ma
tional Bank: Il don't want to be Interviewed
1 think it is just that sort of sensational stuff
going through the newspapers that makes
trouble. The best thing to restore confidence
here would be to take the official list of stock
holders of the banks OF this city, and publish
Augustus Kiefer, wholesale druggist: ssThis
will put another feather in the Fletcher g.
Churchman cap. They are not going to get
away with that bank. The people Of this city
ought to keep cool. Everything here is all right.
The business adversities are not unusual There
is nothing the matter with the country. l an
ticipate better trade for the first six months of
this year than l had during the same period last
year We had a great corn crop last fail That
brought money and makes business"
,foo vha ooso
interview with Mr. Kiefer covers my view of the
case. The farmer is we'll off, and that money is
coming into the channels of trade now Every
body's trade in the wholesale way is larger than
it was last year. My trade is % per cent greater
now than at this time last year"
Frederick Ostermeyer, wholesale grocer:
Fletcher q Churchman are all right-no sane
business man doubts it. Many mechanics and
the middle class Of people had money in
Ritzingers' Bank, and their losses will hurt but
there will not be any serious detriment to gen.
eral business. The Ritzingers deserve sympa-
thy. They have been economical and have been
industrious. | understand that with careful
and economical management they will be able
to pay almost dollar for dollar They have ex.
cellent business property on Washington street,
and other valuable real estate"
Henry Severn wholesale grocer ~ do not
deposit with S. A. Fletcher g. Co., but if had
500, 900 in that bank wouldn't take SO cents on
the dollar for it, But I'm not to be interviewed
Daniel Stewart, wholesale druggist 1.-THE
Ritzinger assignment will not, think. material
ly effect business. We never in twenty years
have had such January business as this year.
The stability of the Fletcher & Churchman
bank is above question. AS to general business,
Notwithstanding the bank failure. Indianapolis
is going to remain right here all the time
NJ. OConnor, wholesale grocer: THE Ritz
niger failure was not unexpected TO business
pen They had a long and a hard tussle. 1t
does not materially affect Meridian street. The
business people of this street are in excellent
condition-better than ever believe. Indian
apolis has had fewer business failures than any
city in the country Fletcher e. Churchman are
bankers. and nothing else You never hear of
them specializing in anything People ought to