The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1888-02-09
BANK FAILURE.
Another Great Collapse in the Financial
Market at Cincinnati.

Another Great Collapse in the Financial
Market at Cincinnati.
CINCINNATI, February 1.-THE silence of
the. tomb prevailed at the Metropolitan
bGhK this m0rnisg. 1t is located III The
new brown stone structure called the Unit
ed Banks building, and occupies the west
ern half, at the southeast corner of Third
and Walnut streets. The wide vestibule is
used Jointly by it and by it's neighbor in
the eastern half of the building, the Citi-
zens' National bank. This vestibule, of
course, is open this morning, but the door
leading from it into the Metropolitan
bank is closed, and placarded with
the announcement that the bank is in the
hands of the comptroller, acting through
Mr.. Saunders, United States national bank
examiner.
A few clerks can be seen through the
glass in the door, and single watchman
lounges at the door of the sumptuons
room of the president. Small groups of
people enter the vestibule and look for a
moment in the vacated quarters of the
great bank and read therein a lesson of
the power of the national government.
All connected with the bank say this
would not have happened if the govern
mept had not caused the arrest of the ex-
vice-president. 1t is true that the arrest
moved the other banks to withdraw their
offers of assistance, but it may be that the
government acted mercifully in diverting
their money from the Metropolitan, for
the charge made in the warrant for Mr..
DeCamp5 arrest does not necessarily
cover all that may be in the possession OF
the government. More serious charges
than certifying to false statement of the
bank may be brought to the notice of the
grand jury.
GAVE BOND.
CINCINNATI, February 7. - President
Means appeared this afternoon in the
Office of United States Commissioner
Dorger, and gave bond for his appearance
in the sum of $4,000. The charge against
him in the warrant is the misapplication
of upwards of 100000 of funds of the
bank. Mr.. DeCamp also gave bond for
$4,000.
MORE ABOUT THE FAILURE.
CINCINNATI, February 7.-Michael Ryan,
one of the directors of the Metropolitan
bank, attributes it's failure to the weaken
ing influence of the increase of capital
He said that of the 100000 increase Of
fered, only 100000 was sold and the re-
mainder was used as collateral for loans
thus becoming debt of the bank. More
over, as the stock was offered too freely
for sale, the directors thought it best to
keep up its market value by
buying it, and here again in time was
source of embarrassme
An evening paper publishes an inter
view with E. L. Harper, in which he says
he knew last summer that the banks stock
was being used as collateral on loans for
the purpose of speculation in real estate.
He added that the bank examiner, who
knew how to examine, could have
discovered that then-In his opinion
nine-tenths of the bankers of the country
oould be pot in prison to day for violation
of law, as he had been. The United States
grand jury has been dismissed for week
to enable the district attorney to prepare
the Metropolitan cases.
The indictment against Mr.. W. H.
Caulfeld, late director in Fidelity bank,
was nolle prosecuted to-day. 1t was the
same as that against Mr.. Pogue.
A1