Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1889-10-31
CLOSED DOORS.
THE ABILENE BANK sUSPENDs
BUSINESS.
A Financial Crash Unexpected and
Enormous-Assets and Liabilities
in the Hundreds Of Thousands
Prospects, of Settlement.

-~-S
1t was nothing less than the startling
announcement that the Abilene Bank
of Lebold & Fisher had closed its doors
and suspended business. Supposed, as
it was, to be as solid as the everlasting
hills the news was startling in the ex-
trsme and many found it hard to be-
lieVe.
The bank doors were the center Of
attraction as 9 o'clock approached and
the crowd saw a notice posted saying
that the bank would temporarily post
pone business.
THE BANKS CONDITION.
The REFLECTOR representative
sought Mr.. Fisher at his home OH
South Buckeye and from him obtained
some Of the facts in the case. 1t has
been impossible today amid the multi
plicity of busieess devolving upon him
for anything like detailed statement to
be prepared but the approximate figures
and the causes of the failure were Sc
cured.
The bank is well known, has for
years been heavily indorsing paper for
Dickinson county borrowers and has
rediscounted large amount of notes,
etc. These secured by mortgages on
real estate and chattel property have
not been met by the makers and the
bank has been compelled to carry them,
foreclosing many instruments upon
lands in this county and in the west
ern part of the state.
The burden at last became too heavy
to bear and the bank was compelled to
have more time.
ASSETS AND LIABILITIES.
The amount of business done by the
bank has beeu enormous. The cash
deposits now on its books foot up s207,
700 and belong to thousands of diff
ferent parties. All but about $4,000
is the property of local depOsitOrs and
varies from SIS 900 to So each. Besides
this there are over 100000 in redis-
counted notes for which the bank is re-
sponsible, the total liabilities being
nearly 100000.
To meet the indebtedness MeSsrs. Le-
bold and Fisher hold real estate and
securities valued at $1,000 or more
aud which is abundantly sufficient if
they can be disposed of to pay off every
dollar of liability.
THE FIRMS HISTORY.
The Abilene bank was started in 1870
and has for years been the propelt y of
Lebold, Fisher II Co. MIR. Herbst re-
Gently withdrew leaving Mr.. Fisher
and Mr.. LebOld sole owners. They are
both wealthy and as their personal liza
bility is not limited there is every rea-
son to believe that the firms affairs
may be Strengthened out as they promise
they shall be. The gentlemen have
never failed to keep their promises and
1t is generally believed that in few
days the doors will be reOpened for
business.
The firm recently organized the
LebOld- Fisher Loan Il Trust Co. hop
ING that 1t would assist i'll carrying af-
fairs over the eJb of the tide but the
pressure came too soon and the Loan
" Trust Co. has done nothing. 1t may
Oe we'll To say that this company has as
yet done no business aud SO owes moth
ing.
WHAT WILL BE DONE.
Accountants are hard at work this
afternoon taking record of the banks
condition. All that is asked is that the
creditors are lenient and the bank he
given time to 50 arrange matters that
they can meet their indebtedness.
Mayor Lebuld is i'll Bolivar, Ohio,
but is un his way home and is expected
SOON. Mr. Fisher has been at his
post all Gay and is straining every
nerve 10 get things in shape at the
earliest possible minute.
A number of important local enter
prises are backed by the firm and
it was feared that they might
be seriously crippled. However,
indications are this afternoon that such
arrangements will be made that nc
body will experience more loss than is
necessarily connected with the ineon-
Venience of temporary closing of the
doors.
A GOOD TESTIMONIAL.
The following paper was circulated
among the business men of the city this
afternoon without the knowledge of |
MesSrs. Lebold s. Fisher and was
signed by the gentlemen whose names
are given. 1t speaks for itself:
We, the undersigned, depositors.
bankers and business men of Abilene
hereby express our regret that a COM |
bination Of adverse circumstances has
caused the temporary suspension of the
banking house of Lebold, Fisher &
Company, and at the same time we de-
sire to extend MeSsrs. Lebold and
Fisher our sincere sympathy in their
misfortune, and to express our conf
dence in their honesty and integrity.
and in their ability to ultimately re.
sumo business and pay every dollar for
which they are liable.