St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-05-06
WRECKED BY A PARTNER.
A Private Bank at Berlin, Wis.
SuSpends-Othep Failures.

Berlin, Wis, May 5.-The private
bank of Charles A. Mather 81 Co. closed
its doors this morning, the firm having
made an assignment to Joseph Yates.
James M. Hawley. the junior member
of the house, has disappeared. The as
sets are placed at $4,000 and the LA
Utilities at 100000. The news of the
failure created intense excitement
throughout the city. 1t is known that
HaWley drew out $1,000 from the bank
on personal note before he disap-
peared, but it is not known as yet how
his account stands with the bank. The
business of the bank seems to have
been carried on in Il reckless manner,
many accounts being Overdrawn and
large numbers of apparently worthless
notes being held as collateral A hasty
examination of the books by the as
signee gives him the impression that he
can pay Is cents on the dollar, but the
hopes of the assignee are not shared by
the creditors of the bank. who are all
Berlin people.
NORRISToWN, Pa, May 5.-There was
considerable excitement about the
Montgomery National bank this fore
noon when the doors Of the bank were
opened. The offices of the bank and
the Montgomery Insurance Trust Il
Safe Deposit company are both in the
same building. One man this morning
made deposit at the bank Of $75, 200,
and other depOSitOrs brought in cash so
that the deposits almost equaled the
Withdrawals. The trust company had
heavy run, and about 1920
O'Clock suspended payment await
ing the promised arrival of cash.
Subsequently payment was resumed by
the trust company. The impression
among conservative financierS is that
the bank is entirely Sound, but that the
trust company is considerably involved.
The officials refuse to give any figures
or definite information. A member of
the wealthy Slngluff family declares
that they will be responsible for every
loss to outside parties from William f.
Slingluff's financiering.
ST. LOUIS. May 5.-The A. Siegal Gas
Fixture company, 219 Broadway, as
signed to-day. The assets Of the firm
are placed at $4,000.
PROVIDENCE, K. l., May 5.-Wether-
ell q Pierce, shoe dealers, are financially
embarrassed. Liabilities, $4,000.
PROVIDENCE, K. l., May 5.-The ORR
entail mill, Alfred A. Reed and Gordon
Reed principal owners, is reported to be
temporarily embarrassed. The mill
runs about 10000 spindleS, making afne
grade of Turkish towelings, and EN-
ploys about $50 hands. The indebted
ness is said to be about 100000, and
none of the notes have been pro-
tested. nor has payment of any claims
been refused.
NEW YORK. May 5.-ADout 6,000
shares Of stock, including G. b. & O.,
Sugar Trust and Lackawanna, have
been bought in under the rule on the
stock exchange on account of Washing
ton Quinlan. who has disappeared. The
friends of Washington QuinIan were
more amazed than any one else at his
disappearance. One of them said that
his family Sunday night became
alarmed and requested the police to
search for him. Iiis family is very
wealthy one, one brother being at pres
ent the cashier of the Chemi-
cal National bank, and it is
claimed that they could easily
have settled all claims against him if
they knew what was necessary for them
to do. Washington Quinlan is said to
have been worth $1,000,000 year ago,
and his friends say his losses will not
amount to more than 100000. Before
the close of the exchange 1900 shares
of various stocks were bought in under
the rule for his account. but this is
understood to be only about one-third of
his outstanding contracts. Brokers say
that he sold 5000 shares of Burlington
On Friday last, and put out large lines
of other stocks at the same time.