The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-03-29
GEN. DODGE WANTED.
He IS Vice President Of Broken
New York Bank.



NV YoRx. March 2s.Ispecial 1.-THE
principal interest In the affairs Of the
Washington National bank at present CEN
:srs in the probable action Of the Omitted
States district attorney and grand jury
concerning President Sherman and the
crest overdraft-maker. Silver. It IS a.
serted that the directors have been in con-
suitation with District Attorney Nicou and
are determined 70 prosecute Silver. They
win leave President 6herman's case 70 be
disposed Of by Comptroller Lacey. The
grand Jury meets Monday, and the bank
matter may be considered.
The directors Of the bank viii hold q
meeting, and it Is expected that General
r. u. Dodge will be in attendance, - he
started from Seattle today. II he does re-
turn the meeting will formally consider
the question Of reorganization, and win
undoubtedly be guided to . great extent
by the generals wishes, Is he Is not only
one Of the largest individual stockholders
and vice president Of the bank, but he has
the confidence of the other directors and
stockholders.
No new developments were forthcoming
today as to Silver's dealings with the bank.
His $4,000 of overdrafts still remain un-
paid, and 90 far Is can be ascertained, they
are likely to remain so for some time to
come. Silver himself is as hard to find as
ever.
Bosrox, March 2s.-The Boston Car
Spring Company is financially embar-
rased. Its debts are about sil6, 600; assets,
SIS, COO. Thomas G. Lothrop, treasurer of
4 "a has INT, ,SrsIx,
COLUMBUS, March 2S.-Representatives
Of the Shawnee Point Coal and Iron Com
pany have applied TO the United States
court for master, to take charge Of the
affairs Of the company. Charges are made
that President WEIGH and others have
fraudulently appropriated $4,000 in
bonds, together with several thousand
dollars Of the profits of the company.
I.osDos, Ont, March 2S.-The wholesale
dry goods house of John Birel & Co. failed
today. Liabilities, $250, 600; assets, $125, 900.
WAsHIsaroS CrrY. March es.-The comp
troller Of the currency received telegram
today from the examiner in charge of the
American National Bank, Of Kansas City,
saying the entire amount Of the capital
Of the bank 1880 000) had been paid in
and the bank would open for business
Tuesday or Wednesday next. The ex-
aminer says the bank has 81 ,7o0, 900 in its
vault, including $685., 600 which had been
taken from the bank by the examiner and
which has Just been restored by order Of
the comptroller Of the currency.
Comptroller Lacey today received the
official report Of Examiner Hepburn re-
garding the Washington National bank. Of
New York, but refuses to disclose its con-
tents. He has addressed communication
to Hepburn, suggesting that only two
courses are open II . receivership
is to be avoided. In the first place the
comptroller can levy an assessment of so
per cent. upon the capital stock, which
would reinforce the assets Of the bank BY
$4,000 cash. This could be done, however.
In case the directors and larger stockhold-
ers would agree to advance for sharehold-
ers not prepared for immediate payment.
In case this amount was paid in the comp
troller would permit the bank to resume
business and the amounts due depositors
and creditors would be Immediately avail
able. In case resumption is i'm
practicable, the comptroller suggests
that $4,000 in addition to the
Immediately available assets already in
hand would enable the bank to pay the
creditors promptly in full, whereupon they
could vote to 60 into voluntary liquidation
and close the affairs Of the bank them
selves. This might be raised upon .
pledge Of loans and discounts of the bank,
supplemented, if necessary, by the personal
guarantee of the larger shareholders. If
one Of these plans is not adopted it will be-
his duty to appoint . receiver and close
the bank up in the usual way.
NEw YoRK, March 2s.-There was no
unusual excitement at the Merchants and
Traders bank today. President Bosko-
witz denied that the bank is in trouble in
auy way, and has offered q reward of 81 900
for evidence that will convict the person
or persons who instigated the reports con-
corning the stability of the institution. A
Clearinghouse committee today examined
the affairs Of the Mechanics and Traders
bank, and found it to be in . perfectly
solvent condition. All reports affecting
its solveney or suggesting irregularities
the committee declared unfounded.
San Francisco, March 2S.-Bradstreet's
mercantile agency reports twelve failures
in the Pacific coast states and territories
for the week ending yesterday, as COM
pared with fifteen for the previou. week
and twelve for the corresponding week OF
fSSn