The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-02-03
THE SUSPENSION OF MONDAY
The Excitement Growing Out of the
Ritzinger Failure Fully Abated.
No Unusual Demand Made Yesterday on any
OF the other Banks-The Outlook for
the Unfortunate Depositors,

1t was plain that the Ritznger failure had spent
its fever, leaving the effects to be felt by the
creditors Of that institution. It is hardly worth
while to say that confidence has been restored,
for within the limits where fright would certain
ly cause dangerous runs, it was not disturbed.
On the first Of the month railway companies are
among the class whose settlements amount to
sums sufficient to strengthen favorable view of
the money situation. Yesterday this particular
business was transacted without rifle of inse-
curity, and deposits from mercantile and
commercial houses came into banks with moth
ing to indicate that there had been
the least anxiety. The situation confirmed all
that had been written and said about the squirt
of the day before. II am" said prominent
banker, rather particular about being quoted.
The furry is over. I never saw anything of the
kind succumb so rapidly. One cannot tell that
there has been scare for business to-day does
not show particle of uneasiness. We have had
the full average of deposits for this time of year,
and the payments have been only those expected
in the usual course of business the first days
of month" Another banker remarked "Pub-
lie confidence where injury would follow has
not been affected. judge of Mondays scratch
ing at Fletcher & Churchman's, by what we had
to deal with on that dav. OF course our business
was not in the circle of intense interest. but.
nevertheless, we enjoyed a little brush from
small depositors. About 49, 700 was paid out by us
on deposit certificates that did not average
more than 5000 each. This little fright checked
itself early in the day. Since then not a new
feature has presented itself" These expressions
give the feeling of yesterday.
1t is thought by some who have right to say
so that the withdrawal of the small deposits will
help the spring real estate market. This money.
kept concealed for any length of time, will be-
come restless Out-of-the-way corners, covered
up cash boxes and old stockings are. after
time, looked upon as less secure than houses and
lands. you will find" said financial gentle
man, ''that. in few weeks, part Of this money
will reach the people again. You see there is
no evil without benefit. A great deal Of it, too.
will come back to the banks as deposits"
The Ritzinger affair revealed no details that
will serve to estimate more accurately the con-
dition in dollars and cents A gentleman. who
has been for year or two intimately convers-
SAINT with the Ritzngers' investments, attributed
the failure to whisky. II know that when
market few years ago." he went on to say, 1.-THE
Ritzingers covered large amount of it at cost of
production The bond extension came and they
held it, expecting to pay the tax at rise in the
market. For example, assuming the cost of pro-
duction at thirty cents per gallon. or. say in
round numbers $12 90 per barrel, the amount of
the investment is comparatively small, and, on a
rise would, with payment of tax, turn good
profit The Ritzingers had it figured in this
way. do not know exactly what they carried
of 70 and 80 Whistles. Some of it was tax
due in '82 and the rest in 'S3, of course. Assum-
ing that they had about 5000 barrels it is easy to
be seen where their failure comes in. You re-
member the scare about whisky glut few
years ago. The Ritzingers held on to their origi-
inal investment Of $4,000, but when bond ex-
pired and tax had to be paid, $l18 600 confronted
them. Here was an investment of SITS, 900
from which they could not recover, because they
s.v mot eny' soDssS to pay os the tax Ss
whisky altogether. for it was impossible for
them to raise the $11S 900. The original $780, 900
went to pot, and since they have been laboring
against this as big element in their losses.
The failure had to come. While on this topic it is
proper to say something about the Bunte trans
action. His bill of sale conveying little over
| $40, 900 worth of whisky and liquors to partly
secure advance of $22, 500 is favorable show
ing compared with the debts due them from
Bunte. Altogether the amount was $67, 000 but
| know that $45, 900 in notes, belonging to this
transaction, was cancelled in order to lessen the
strain on the assets on the face of the inventory.
There ara other liquor speculations in their bust
| ness which were equally ruinous."
George b. Yandes, assignee of the Ritzingers,
| filed his bond yesterday. 1t is in the sum of
| $500. 900, and has for suretes Simon Yandes, j.
H. Baldwin. Volney T.. Malott, and VIM Man
IL
did the day before about the assets and liabili-
ties. Said he, ut will be a week or ten days,
perhaps longer before l can reach even basis
upon which to make an estimate. My present
concern has been with lot of notes sent for col
| lection. These l want to save from protest.
With the books behind and the necessity of
having these brought up to date Of
the assignment. you can see why l
can give nothing definite as to the
amount of liabilities. The only idea have as
to their sum is from rough guess made by the
Ritzingers Again. have only an inventory of
the assets. and the first thing to be done with
these is to verify the items and then to have
them appraised by men acquainted with such
values. This, after all, will only bring us to an
| approximate estimate"
'There are rumors as to the Ritzingers being
| away from town.
.They are in the city. but not at home think
any one of u.s. in the same condition, would seek
place where rest could be assured. heard to-
day that Frank Ritzinger is threatened with the
brain fever. l do not know how true it is, but it
would not be a surprise"
The guess work as to the final rate of pay
ment in settlement with creditors goes on in
financial circles. 1t runs anywhere from 25 to
so per cent, with the odds IN favor of the first
named figure. Suits are being fled but 80 far
the judgments asked for do not exceed So, 900 in
the aggregate John Elmer and others want
$625; Daniel B. Sullivan, $500; Justus B.
Parker, ST. 902 "A, and Irmer 81 Wysong about
81. 300 The compliments last mentioned state
that about o'clock in the afternoon. January
the 30th, they left $500 with the Ritzingers
This money they allege was put in a separate
place, and was not entered on the books, but
was turned over to George b. Yandes assignee.
further sum of $3.50 in general deposit also
enters into this suit AS far as one can tell, the
assets their face value and liabilities given in
the Journal of yesterday represent the condition
of the failure.