Telegram-herald., 1890-01-31
BANKS CLOSED.
Two New York Financial Insrita-
tiQns Suspend
SOME QUEER METHODS DlsuOSEh
Tue St4th Aatla1sl sus ths Eensz Rtu
H@Aks kiass faelr naees Aua rhs
kquitsDls >ssc a. - taa =
AhRkF Geaaifsou
rATSE oF FHE FAr1Ers


Ma NoKE. Jan Sc The street iu
frost 81 the SIXTH Nsuaua Bank vas 80
packed th.s morning with ANXIOUS o.
pos tors that the seraices oi policemen
we're reguirea io keep order The de-
msnds oi tne deposltars became rn..
- pressing that represerta I.e
of Bans Examiner BeQturn uae
has taken possession 81 the kank.
ope ned the from, door . ies inches and
usde o statement 90 tae dePosi lors that
tie examination woald soon he oom
plete0 he also said tAat sUf rleUt
money wss known 90 be ln The bank %
sssur re- the 6oposlfors that tbey would
al he paid ma foi ano that the bank
wo4ld prab4bly resume business ln
fe0 asYs
"Wednesday tbe hauh comm iss iones
tooA possession 81 tae hauA and Gem
neneed az examination ot Sos af4lrs
The conccn changed bands lass week.
but that fact uas not made known uutl
"Wednesday. Aumors to tie erert flst
the hans Nas q al in~olvcnf condition
In me4Iatcit followed tte change lu fhe
management sa4 81 investigation sas
ordered
some crooked proceed nrs must have
been discovered by Examiner Hepburn
ior sooa after i.o made lis repof. 20 tte
clearing ho-sl eG.ecrs tbe o.Ath Nation
si Bank aas suspended fom tbe ,.ear-
ing house prominent hank Official
in speaking oi the affair said
The control lt tac Sixth National Baas had
oeel fof nlant ts.rs lH lhc bands uf Charles ii
Lol8nd durine wll.l uule the insi Iutlou -
carefelv uaa4Fea Last wceb D. Sold
out traoAfer rs hts controlling tu
feresi % JHmf> A Simmons ~
J. Cutler k Watson. ID ~ RIPLEY. James
Jourdan ald D. q ClGs-sn. The lasi named
became prcsltfuf ano took possssslor
Since thea ttcre have becH rumors Ia
banking ctr,its that DE pfuoetlinGs a.
these people l.rt been peculiar Enu the
bank has become oiscrcdt~d win ne
clearing house and uth the community The
same people who purchased The Sisfh Nation
al appesr 80 De interested fn TIE LeDoK
Rll Bank so fhe Equitable Bark both
Institutions Organized uuder the Stste eve
The atuiuol of Mi Leian1s cnucs is
perfectly reasonable. because there wsre
e. 600 Oo3 a. deposits lr fhe bark arc H would
have been cKpccicd HAT Pc oscc dufy 90 The
depositors to SEE that thea were PROTECTED
Many o. then dId noi SNOW urtN go CAY thst tbe
management bad 81. 4Ifeo bands"
The Lenox HiI Bank has also SUE
pended payment. lt is control "a ~
the same parties who last week bought
the control Of the Sixth National
Bank. Of This city. which had all
ready been closed w the bank o.
sminer. The knowledge % the relation
% tie TWO institutions caused run on
the Lenox which il was unable
20 meet TIE pres dent 8
said 10 have made an attempt
70 obtain funds in Wall street ~ con-
tinue payments. hut Wss unsuccessful
The Clearing House Association acted
on the Sixth National and decided 70
drop it from the association.
The Equitable Bank has also been
mentioned 10 connection Nlth the other
two institutions. It's president makes
the following statement The owners
of the Sixth National have minority
interest in the Equi table only. snc the
bank is not affected