The morning call., 1890-11-13
MORE FAILURES.
New York Bank and Several Business
ms Sn -nern QnaraL n 3

ms gu spenC OpI!at1O s.
NEW YORK, Nov. notwithstanding
the announcement early in the day that the
North River Bank would tide over the
losses of yesterday and had made salts
factory arrangements with the Clearing
huuse. that Institution closed its doors at
2:l5 O'Clock and posted the following notice:
g This bank has suspended temporarily"
All efforts to obtain further information
from the officers we're futile. The doors
were locked and a number OF der0sltorS
were c0ugre gated in front OF tie building,
much exercised over the sudden suspension.
At 3 o'clock the Bank Examiner had taken
charge of the bank.
The North River Bank is a member of the
clearinghouse, and operates under State
charter granted In 1872. 1t applied again
to-day to the Clearinghouse for loan, and
a committee was on the way to examine into
the condition of the institution when it was
learned it was in the hands of the Bank Ex-
aminer, who is tonight oveThaulng the ac-
counts. II is stated the bank officials expect
to open up for business tomorrow. The
cause of the present difficulty is simply
tight money. On account of the mention of
the North River Bank as one OF the default
ers Mt the Clearinghouse yesterday deposit
ors started a quiet but steady run on 1t this
morning. The bank stood out until 2:30
o'clock, when the ready money was eX-
hausted, and it had to close its doors. 1t
did an average business of S3,000,000.
The examiners said late Tonight that they
had not concluded their examination of the
books, aud could make no statement.
j. c. Waleott & Co., 81 Pine street, an
nounced their suspension ON the Stock EX-
change. The house was generally consid-
cred solid. 1t is not believed the failure
will have any effect on the market. The
failure created little surprise. The house,
though a good one, had but small interest
in the market. The sales under the rule for
,t..l lasc neha
distributed among a il the active specialties.
Walcott refuses to make statement.
1t is stated tonight that Walcott'S liabili-
ties will not amount probably to more than
$4,000, and the assets are ample to cover
this The firm is an old one. The failure
the calls for margins and to the difficulty in
obtaining money from the banks.
Benjamin K. True, stockbrGker, has
failed. He is small dealer and his failure
is of no significance.
The members of the brokerage firm of C.
NJ. Whitney & Co., which assigned yester-
day, filed separate assignments this morn
ing.
The assignee of c. NJ. Whitney & Co. said
this evening that the firm owes about
S3,000,0o0 on loans. the securities on which
were deemed sufficient when the loans were
made. A considerable sum in cash to come
In within fe" days Will 60 toward straight
ening out matters. The question of whether
the firm will he able to resume depends
upon the state of the market in the next few
days and the value of the securities pledged.
The assignee of Decker, Howell &S Co.
has a large force of clerks making up state
ment Of the firms condition. but its daily
transactions We're so enormous that it will
take some time to arrive at a clear under
standing of the assets and liabilities. The
assignee said this evening that a large
amount Of the securities turned over to him
We're extremely good collateral, particularly
the Willard stocks, which are vastly above
the temporary price made by this abnormal
market. If the creditors use good Judgment
and do not act hastily they will not only be
paid in full but will leave good surplus for
the estate