Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-12-21
FINANCIAL WORLD.
The Assets of Kean & Co. Growing Les,
as the Investigation Progresses.


as the Investigation Progresses.
CHICAGO, December 20h.-The assets Of
S. A. kean & Co., the suspended banking
firm, are growing sadly less as the proceed.
ings in Court progress. Cashier Warne
testified further to-day regarding the affairs
of the bank, nothing startling being ad.
duced. w. ]. Mcdonald, at the head oil
the bond department. testified that the net
yearly profit of the bonds is about $40 600
When the bank closed, of about 1865 600
worth of bonds in value, all but S. 600
were pledged as collateral.
A number Of new cases were filed to day
by persons claiming that they were per-
mitted to make deposits after the bank
became insolvent.
Kean to-day delivered the articles OF
agreement, made two years ago, by which
Mrs. E. NJ. Culver became especial partner.
This partnership was subsequently, dis.
solved. The articles contained this pacu-
liar paragraph: THE business of the firm
is to be conducted on strictly Christian
principles and according to the teachings
of the Bible.n
MORE FAILURES.
BIRMINGHAM Conn December 20th.-
The wooden firm of r. w. Lewis g. Son, OF
Ansonia, assigned to-day. Liabilities S40,-
COO; assets small.
New YORK, December 20th.-The Verti.
cal Tube Boiler Company is financially
embarrassed, and turned over its business
10 Frank L. Froment, the largest creditor,
who will conduct it.
CHICAGO, December 20th.-W. d. Budd
has been appointed receiver for the prop.
ertv of Brayton Bushee, a real estate dealer
and builder of this city. Bushels liabili-
ties are estimated at about $500, 600. He
claims that he will be abe to pay in full
and have som ething left.
CHArTANo oeA Tenn. J, December 20th.-
The Helena Wood and Coal Company has
made application for the appointment of O
receiver for the South Tredeger Iron
Company of this city, declaring il insol.
vent. The Indebtedness of the iron COM
peny will reach $780, 900, and if allowed to
conclude the sale of its property. can paw
up. The Atlantic Trust Company holds q
deed of trust of the property in question
for $50, goo to secure bonds.
EAST TAwAs mich }, December 20th.-
]. H Schmeck & Co.'S bank here has made
an assignment. The Institution is now in
the hands of Hsrting d Nesbit of Tawas
City. 1t is impossible to state now what
the liabilities are.
BANK STATEMENT.
New YORK, December 20,h.-The weekly
bank statement shows the reserve has in
creased s., 49,, eco. The banks now hole
81 49,, 900 in excess of the legal require.
ments.
RECEIPTS CT GoLDs
New York. December 20lh The steame,
Lain arrived this morning with gold
amounting to f4S0,0o0. The total received
by the Lain and the Majestic is equal te
s., 707 900.
BOARDING GOLD.
New YORK, December Goth. = s. v
White was interviewed on the caucus
financial bill. He was averse to talking
about the effect of the bill, but believed
that some gold had been locked up bui
only in small amounts, and when the hold
ers found their expectations unrealized
they would release it and invest it in
stocks.
Amendment to Mfnnesota's Constitution
81. PAUL, December 2Oth.-Governol
Merriam has decided to issue proclama
| ton declaring the adoption. by the people o.
| the constitutional amendment making 9
verdict by fve-sixths Of jury in q civil
action valid. This decision was Reached
on the advice of the Attorney General thai
under q Supreme Court opinion that {
''msjority OF those present and voting
where il occurs in State Constitution
means not majority Of those voting in a.
election, bus msjority of those voting or
| n handing amendment. Many lawyers b.