The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-12-23
THE BUSINESS SITUATION.
Many Small Failures Reported - More
Gold Arrives From Europe.

PHILADELPHIA, Dec. 222.--It is announced
that the creditors of the banking firm of
Wharton Barker & Co. have agreed to an
extension, and the firm will ask TO be al
lowed to resume business.
New YORK, Dec. 22-Dennis Fox, dry
goods and cloaks, today confessed judg-
ments aggregating $4,000,
The steamer Spree arrived from Bremen
today with 81 ,307 200 in gold aboard.
BosroN, Dec. 22.-Chas. T. Slaverns &c
Co, jewelers., have failed. Liabilities, $50
600; assets, a little more.
FoRT WORTH, Tex, Dec. .. 2.-Bateman
Bros, wholesale grocers, failed today. The
liabilities are probably over 100000; assets,
not computed.
PORTLAND, Dec. 22.--In the United States
circuit court today Judge Deadly denied
the petition of Charles r. Barnett, of Ken
lucky for the appointment of a receiver
for the Northwest Fire and Marine In
surance Company
TILToN, y. H.. Dec 22.-E. i. Parsons IL
Co., manufacturers of woolens, are finan-
cially embarrassed.
New ORLEANS, Dee. 22.-The creditors of
Y. IL A. Meyer made u statement today,
showing that the assets of the New Or
leans and New York houses amount To
s.. 757 900, and the liabilities 10 81 6i5, ,oo0.
The firm asked for one, two and three
years extensions, promising to pay in full.
GUTHRIE, i. t., Dec. 222.--Chief Justice
Green decided this morning that the as
signment of the Commercial bank was
void. He will appoint receiver.
CHICAGO, Dec 22-Suits were began to-
day by number of other depositors in
keans bank who want the amount of
their deposits returned, on the ground that
the bank was inselvent when the deposits
were made. At the present rate, if all the
claims of persons who made deposits
within thirty days before the suspension
are allowed they promise to eat up nearly
all the assets exclusive of the other crcdi-
tors. The assets continue 10 grow less.
1t is now estimated that the bills receiva-
bic, scheduled at $4,000 will not realize
100000.
The investigation of the banks books
shows further that Mrs. Culvers account
was overdrawn $500 and Morton Culver's
account $500. Morton Culver appeared
this morning and testified that Mrs.
Culver had an interest in the bank of
$35 900, and as far as he knows there has
never been any settlement of the partner
ship account, though he had endeavored to
secure one. Witness Dclievcu bnat the
business was profitable, but that Kean
had conducted it in an extravagant
manner, and could never be made to make
statement of the condition of the bank.
Till recently, Culver testified, his wife's in
terest consisted of mortgages and notes on
which the bank was only able to realize
$1,000. OF these securities $4,000 in the
shape of notes and mortgages, was given
by one Hanchett, and simply as accommo-
dation paper. The fact turned out that
kean had included these accommodation
notes in his statement of assets to the
commercial agencies.
The testimony of Cashier Warner was
that Kcan had renewed paper for over
$4,000, the only security being land con-
tracts. The books also showed that Kean
discounted his ownpaper for $4,000 and
his wifc's for $4,000.
LONDON. Ont, Dec. 22--The assignment
of John Elliot & Son. manufacturers of
agricultural implements, is announced.
There are considerable assets, but the
losses will be great