The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1886-02-03

shows a total assets of $40S, 500. In this is
included $234, 900 in notes, the commercial
value OF which is unknown; SD 500, the
value of Simon Bunte's stock of liquors;
$4,000 in cash. s., 900 stock in the Franklin
Fire Insurance Company, and real estate
valued at $137, 800. There are also included
2S5 shares of Building and Loan Association
Stock, but the value of this is not given. In
the foregoing estimate notes aggresating
$4,000 and which are given as assets are
held by different parties as collateral for the
payment of debts aggregating about so, 900.
The scenes witnessed upon the street when
the fact of the assignment became generally
known were similar in all respects to those
attending other bank failures IN Indianapo-
lis. A large crowd gathered about the door
and seemed to find some consolation at least
IN reading the notice which stated that the
assignment had been made. As the day adj
vanced the crowd became larger, and while
many of them were depositors in the bank,
there was very little, il any, demonstration,
and 1t was only occasionally that a word
OF resentment was heard. People sDeculated
on the causes leading to the failure, the
probabilities of receiving something on
their deposits, and the probable result OF the
failure on certain business firms which it
was supposed the failure would affect 1t
was said that the bankers had received
money from depositors up to the hour Of
closing on Saturday, and for this the Ritzin-
gers were more or less blamed
There being an impression that s. a.
Fletcher q Co. were in some way connected
with the failing bank, caused run to center
on Fletchers Bank, and at an early hour
deposltors appeared in large numbers and
demanded their balances. There was no
hesitancy whatever in complying with these
demands, but in order to prevent
the rush and struggle of deposit
ors in the bank the police
took charge of the crowd, guarding the doors
and admitting only a few at a time. The
promptneSS with which all demands were
met restored confidence to a great extent,
and toward evening the crowd was very per-
ceptibly diminished. II was noticed that
the majority of those making the run upon
the bank were but small depositors,
while large deposits were made
by parties doing business with the bank. In
two or three instances persons who came
with deposits were prevented from entering
the bank by reason of the crowd A repre-
sentative of the Sentinel saw Mr.. Church
man during the afternoon. He was
calm and self-poSsesSed, and did not
appear at all disconnected by the demands
which his depOsitors were making upon him.
Before entering the bank the reporter had
learned that large sum of money had been
received from New York on Saturday, and
an express safe containing 100000 was
taken to the bank yesterday morning, it
having been received also from New York.
In fact, all the banks were conversant with
Ritzingers affairs, and expecting a collapse
and possible run upon their banks, had
prepared to meet it by calling in their de-
posits. When questioned by the reporter,
Mr.. Churchman said that he had no state
ment TO make except that his bank had no
connection whatever with that of the Ritz
ingers', and knowing that the latter were
embarrassed, he had made arrange
ments to meet such an event
as the present, and had on hand money to
meet all demands. He had not received as
sistance from the other city banks, nor had
he asked any. As before stated, he was per-
fectly calm, and spoke of his ability to paw
all demands in a manner that indicated
clearly the truth of his assertion. IL is pos
sible that the run upon his bank may be con-
tinued this morning, but there is not
the least cause for any uneas;ness among his
depositors. The firm of S. A. Fletcher d
Co. is one of the most careful in the city,
and they deserve all the confidence that is
reposed in them by the class of larger de-
positors who know them best. 1t is not at
all unlikely that many who drew their
money yesterday will return with it to-day.