The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-05-12
EAti tiRES.

CHICAGO, May II The Columbia Nh
tionai bank of this city suspended today
| The bank had offices in the Insurance eX-
| change. The deposits are s., 400 900 and
| the capital 81 ,W0 000 Rumors that the
! institution was in trouble have been cHr-
! rent for the last week It did business
with small country banks, and was not in
esteem with the other banking concerns OF
/ the city. Bank Examiner Sturgis as
| sumed charge OF the bank shortly after
| the suspension was announced. The total
| assets Of the bank placed at 81. 250 900
and the liabilities at 81 500. 000 There has
! been ii constant run on the bank since the
! closing of the Chemical National and that
is what determined the directors to close
the doors. The Columbia was not menu
Der OF the clearing house. LymauJ. Gage
says that it made application for member
ship year ago, but. after examination
OF he banks affairs Ii was denied Presi-
dent w Nlggins has issued ii statement that
all the depositers Will be paid in fun
The president said that the immediate
cause Of the failure was the bringing of 4
suit against 1t by the Sioux City Loan aud
Trust company, which failed few days
ago. The Sioux CITY concern at the time
81 its collapse had S35 900 deposited ia the
Column bla bank. When draft for this
amount was presented the Colum bia peo
had loans outstanding against the Sioux
City company which equaled the amount
of The latter's deposit. The news of the
suit caused ii run on the Chicago institu-
ton, which they were unable TO stand.
INDIANAPOLIS. Ind, May 1.-THE Capt.
tai National bank suspended this morn
Ing. The statement is wen out that the
suspension was caused by the suspension
OF the Chemical National bank OF Chicago,
which banked owed the Capital National
Il large sum of money. The bank also
carried large amount of the Premier
Steel company's paper. The latter concern
went into the hands of a receiver last Fri
day. The bank is the depository for a
number of building associations, and the
announcement of the suspension came as
great shock to the people.
y statement ISSUED by the officers of the
Capital National bank states that the faIl-
ure is due to the suspension Of the Cheml-
Cal National bank OF Chicago, with which
1t mad deposit of S19. 900. The statement
says further that the assets and liabilities
of the bank at the close of yesterdays
business were 81, ,465, 962 each. The officers
of the bank think that the affairs OF the
bank are in such shape that they can be
settled up without injury to the business
interests of indianapolis
The bank was not a member OF the
clearing house. None of the other banks
here feel that there is any cause whatever
for alarm regarding financial matters.
WILMINGTON, Del, May 11-R. r.
Robinson & Co., bankers and brokers, of
this city, failed today. The Liabilities are
estimated at $500, 200 ami the assets at
Sl00,0G0
DeHaven and Townsend of Philadelphia
are the principal creditors. Their claims
amount TO about 500 600. The causes of
the failure, as explained by the firm, are
as follows: The Endorsement of notes, the
decline in the stock market, carrying
stocks fer customers and protecting the |
stocks of customers without being pro- |
tected by them. The sheriff has taken !
charge of all the property OF the firm. The |
failure has been expected for weeks. The |
assets include real property and outstand- I,
ing accounts. The firm was organized IN |
1915, and consists of H. G. Robinson and |
his son, j. Norris Robinson. 1t is thought |
that the firm ultimately will be put on |
foot again.
SIOUX CITY, Ia, May IA receiver
was today appointed for the Sioux City /
Engine works. on application OF the stock |
holders. The assets of the company are |
placed at 1921, 600 and the liabilities at |
$500, 0O0 The failure is charged to the |
Sioux City National bank, which failed TO
give credit for $50, 600.
Assignee Hubbard of the Union Loan
and Trust company, the Hedges Trust
company and ID. Hedges, today filed an
estimate of the values Of the assets sched-
uled in the three assignments. The Union
Loan cOmpany's assets are placed at ST.
351 ,574, against an original estinare of ST.
46S. O3S. The liabilities are placed at ST.
0O0, 900. The assets of ID. Hedges, origin
atly placed at s. 245 600. are cut down to |
$3O7. .577, and tile liabilities are placed at
81. 022, O00 The Hedges Trust company's
assets, estimated at $40 200 originally,
are cut down 10 SlS3,01S the discrepan-
cieS in both the latter cases lie between the
face value of securities and the assignee's
estimate of their yaIua