The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-11-23
BUSINESS EMBARRASSMENTS
Failure Of a Great Car-BuildiDg Firm.
Bank Suspensions.

CHICAGO, Nov. 22.-The United States
Rolling Stock Company has been placed in
the hands of a receiver. The liabilities are
S3,s16,0oOiand the assets S6O53, 900. Attorney
High of the company says that the failure
WAS percipitated by slow collections and the
depression in the money market. The conf
paDy is the largest builders of railway cars
in the world, and has plants at HegewiSch,
HIS. Decatur, Ala; Admission, Ala, and
UrUana, Ohio. The capital stock is $4,000
COO. The assets consists OF the plant at
Hegewisch. worth $1,000. 000; and the plants
at the other places, which are mentioned as
worth Sl.500,000. The other assets are in
Car Trust Bonds, worth S1.533,0O0; rolling
stock leased to various railroads, worth
$500. coo; supplies and material in process of
manufacture, S1,000,000, and accounts
amounting to 100000. 1t is understood the
failure is due to the inability to collect
S3O0,000 due from various roads for the rent
Of ears. The property is put into the hands
OF friendly receiver that this sum may be
realized on.
The company employs 1900 men and its
are SS00,000 monthly. The Stringency in
the money market compelled the railroads
which bought cars of the company to pay
their bills in longtime paper instead Of
cash, and it has been extremely difficult to
discount the paper.
appointed A. Hegewisch receiver. Hege-
wisch is the President. The Judge ordered
the receiver to continue the works.
NEW YORK, Nov. %. = Vice President
Roys of the United States Roling-stock
Company made statement tonight con-
company in Chicago to-day. He said
auxiliary proceedings will be had in all
the States where the company has property.
All the creditors are satisfied with the ar
raugeinent for receiver, which is to enable
the company to tide over the critical point.
a London committee advised it and this
feeling has been fully reciprocated by the
B ard of Directors IN New York.
CHICAGO, Nov. 22.-The private bank of
w. l.. Prettyma1, Oh the North Side, closed
it, doors this morning. Prettyman could
not be found, so no statement OF the assets
and Liabilities is obtainable. Many poor
peoples hard-earned savings are involved.
Lyons Bros, dealers in crockeTy, have S15,-
Geo on deposit. This is believed to be the
largest single loss.
This afternoon an assignment was made
to tie cashier of the bank, johnson. and at
the same tine he was made assignee OF the
North DIVISION Lumber Company, in which
Prettyman was the heaviest stakeholder
Prettyman also assigned his real and per-
Sunal estate. The assets and Liabilities of
tie two conc, rms and Prettyman'S estate
will reach, it is believed, $l,000,000. As
ment of assets and liabilities either of the
bank or lumber company. He said the
cause of assignment was the tight money
market and its bad effect on the lumber
company. This concern and the bank were
closely connected. One of the former de-
positor5 in the bank, however, who asserts
pretty good knowledge of affairs, believes
the liabilities of the bank will reach half
million, and the assets are prObematical.
He said Prettyman has bsen speculating
heavily this year i'll real estate and putting
up houses for sale, and that the business
has not proved profitable A large number
of depositors in the bank are poor people.
WICHITA Kan.), Nov 22.-Ihe CONNER
cial Bank of Newton was closed to-day
after rush by deposit0rs. The capital
stock is $4,000 No statement of affairs
has been made. The Bank of Whitewater
which is a branch of the Newton and Okla
bona banks, is also closed.
PHILADELPHIA, Nov. Ono statement
has yet been made by Barker Bros. 1t is
not likely one will he made for several days.
NEW YORK. Nov. 22-The run on the
Citizens Savings Bank is continued this
morning. The bank officials say the run
will be broken to-day. The payments al
ready made aggregate nearly 100000.
NEWARK IN. J), Nov 22.-The run on
the Howard Savings Bank considerably
abated this morning, and many depositorS
are returning their money.
LONDON, Nov. 22-Argentine finances are
to be taken in hand by the strongest Coil
mittee that can be- formed in London, and
if the Argentine authorities cooperate it is
believed to be perfectly p sSible to bring
things around within a reasonable time, GER
tainy long before the three years now al.
lowed for the liquidation of the Barring es-
tate and the realization On their great mass
of securities.
PARIS. Nov. 22.-The Compton National
d d'Escomptr has failed to float the South
Brazilian Railway loan. Only one-third of
the amount of the loan was subscribed.