The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-12-20
KEAN'S BANK.
DepositOrs viii Not Receive Over One
Fourth Of Their Money.

CHICAGO, Dec. 10. S. A. Kean. the
banker who assigned yesterday and was ar
rested later on charge of accepting de-
post when he knew the bank was insolyent,
made a statement in court this morning. He
said he had the statement drawn up three
days before the assignment which placed
the liabilities at S52S, COO and the assets at
S604, COO. This statement was about 81, OOO.-
Coo less than that made by Assignee Jacobs
yesterday. lie thought it might not be
exactly reliable. Kean said there was a
large amount of personal real estate in the
hands OF the assignee which did not appear
in his statement. In summing up Kean's
statement the counsel Tor the dcpositors
said it did not look as though the depositors
would realize over % cents on the dollar
Officers of the National w. G T. u. state
the losses of that organization and its pub
LEGATION house, through the failure of Kean
d Co., are misleading, as they had not
enough on deposit to injure them, beyond
causing a temporary Inconvenience
John Farson, of the banking firm of Far
son, Leach Il Co.. made some interesting
statements in court. He was formerly con-
nected with Kean's house but withdrew in
1889. When asked why he did SO he said,
that he was dissatisfied with kean' manage
ment. In the course of the examination,
1t was learned that Wilson Waddingham,
a wealthy cattleman, last July thought Of
going into partnership with Kean. He got
statement of the banks affairs from Kean
ana ana consulted FaTson What .M was the re-
ham didn't go in, replied Farson.
Among the petitions filed in court to-day
was one by Treasurer Hugh, OF the National
Women's Christian Temperance Union, who
says that Kean received from her on Decem-
amounts on December 18th and 18th, while
aware that the bank was insolvent. A
petition was also filed by the Women.
Christian Temperance Union Publishing
Association, to recover amounts deposited
BosToN, Dec 19.-The creditors of Whit
to accept 60 cents on the dollar.
MINNEAPoLls, Dec. 10. = Ex-Insurance
commissioner Shandrow was appointed re-
ceiser of the Minneapolis Mutual Fire In
surance Company at the request of its
officers. The company was organized to
compete against the high rates of the stock
companies. The latter have since reduced
their rates, so that the business became I'M
profitable and it was determined to wind up
the affairs OF the company. No losses will
result from the course taken.
NEW YORK, Dec. 19.-The Post says: The
continued reports of bank and commercial
failures in all parts OF the United States
set m to have no effect 10 cause any further
selliag OF stocks here, and it appears the
liquidation of such people as held stocks
usually dealt in on the New York Stock Ex-
change is complete.
WILKEsBARRE, Dec. ia sensational
failure vas made public here this morning.
The dry-goOds and carpet store conducted in
the name of f. ]. Orr of Brooklyn was
closed by the Sheriff on judgment in the sum
of SGT,
MIDDLETowN IN. ", Dec. 19.-Benjamin
w. Winner of Liberty, a large dealer in
wood. has failed, with liabilities of about
So. 0CU and probably no assets
ATLANTA (Ga.), Dec. 19.-The American
Marble Company was placed in the hands
of a receiver to-day. The assets amount TO
$4,000 and the liabilities 100000
LONDON, Dec. 19.-Ths Times in finan-
cial article says reliable private adyices
state that the Argentine Government is in
clined to accept London proposals for the
conversion of cedulas.