The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-05-17
INDIANA BANK TROUBLES.
Failures and EmbarrRssments at Vari-
Gus Points I'm the State.

New PALESTINE, May IA Special. i
Wild rumors have been afoat in financial
circles of this place in the last few DAYS
concerning the effect that the Columbia
national failure of Chicago and the Cap
ital national failure would have upon the
bank here.
Il has been reported that both banks
held funds of the New Palestine bank,
but President FrAiich and Cashier Ergan-
bright said to THE SENTINEL correspon-
dent last evening that they never had had
any connection with the Colum ba
national, but il was true that the Capital
held a balance in their favor but they had
great confidence in its resumption in
few days. and they were amply able to
meet all demands and feared no unusual
withdrawal by depositors.
The community in general seems to
have great confidence in the management
OF this Dank. az it knows the officers in
charge to be reliable men.
KOEoNO. May Especial. THE CONNER
cial state bank of Russiaville and the Farmers
bank of Greentown suspended this morning
with deposits aggregating $54. 600 tied up. They
were branch institutions of the Columbia OF
Chicago.
Russiavile was informed last night Of the
embarrassment of the Chicago house and closed
n the opening OF business this morning. The
Greentown bank continued business mp
TO 8 o'clock. when it was closed on
instructions from Chicago. The Russiavi,le
concern organized last January with q
capital of $4,000. Ali but $4,000 of this was
held by farmers about Russiaville, $12 000 was
held by the United States trust and loan COM
psny. They are amply able to meet the liabili-
ties of the bank. which will close &c S65,-
600. The Greentown bank was a partner
ship concern in which Zimr Dwiggins,
Ira p. Chase ana John w. Paris we're chief
promoters. At the close of business last night
they had about 81, 900 on deposit, principally
the money of neighboring farmers. Against
this they showed assets of 500, 237, including a
rather queer line OF discounts.
Creditors have attached all available property
of the bank and suits have been begun against
Chase. Dwiggins and others.
DECATUR, May H. Special 1-The Farm
ers and Merchants bank of Geneva, in this
county, closed its doors at noon today. This is
one OF the many banks organized by Zmri
Dwigglns of Chicago. The failure OF the Co
lumbia national bank of Chicago caused this
collapse.
FRANKLIN, May FL Special. The Green
wood bank, q private institut on at Greenwood,
this county, closed its doors today. Its sus-
pension is attributed to the collapse Of the
Chemical bank at Chicago. The announce
ment caused CONSERVATION in immediate
neighborhOOd. 1t is stated that bank held
about $4,000 individual. There are como
features in connection with the suspension of
the Greenwood bank that looks bad and court
here will probably have a word to say. The
following notice was posted on the bank door
this morning:
GREENWOOD, Ind. May II, 1893.
ION account of financial complications in
banking circles in Indianapolis and Chicago
we deem il unsafe to our de positors to contin ne
business at present. Done by the advice of
my attorneys. Nv. F. HARrLY, Cashier"
PORTLAND, Ind. May IA deputy sheriff
left here this morning Immediately upon the
receipt of the news OF the Dunkirk fail uIe with
Fitzpatrick, q depositor who lost q, 900
In the crash. He took possession and found
that the total assets of the defuuct institution
amounted to $1,000 in money and
few notes. The treasurer of the county
lost about $1,000 by the failure. The
latest figures that the liabilities will over
run at least $4,000. A meeting OF the creditors
was held today but definite action
taken. The bank is under guard and in pos
session Of the deputy sheriff.
ATTICA, May 12.-[Special. THE Central
bank OF West Lebanon is running today, but
will probably have TO close, at least temper.
arily, account of the failure of the Columbia
national bank of Chicago. Zimri Dwiggius,
president of the latter, is a stakeholder in the
Central, though il is said his stock is repre-
scented by a note. Most OF the CentraPs stock
is held by local people. who are amply able to
pay all demands made upon the bank. The
general impression is that. though the Central
will be temporarily disabled it will continue
in business
PORTLAND, May 12.-[Special.l THE Dun
kirk bank at Dunkirk, owned by DwigRins.
Starbuck & Co.. who were behind the Colum-
bia national bank which went to the wall IN
Chicago Thursday, has failed. A DEPUTY sher-
in left here Friday armed with attachments to
levy on all the available property. The Ina
bilities are between $4,000 and 100000 and
large number OF farmers and small tradesmen
are losers.
LAFAYETTE, May 12-The Commercial
bank at Brookston, fifteen miles north OF this
city. closed its doors. The deposits of the
citizens and farmers amount TO about 500, 600.
The bank will assign for the benefit
OF creditors. The officers say IL will pay in full
and resume business soon as affairs can be
Strengthened out There il considerable ex-
element.
VALPARAISO, May 12.-[Special. THE Citi-
zens' bank at Hebron, this county, closed its
doors today. Zimri Dwiggins, president OF the
Columbia national bank of Chicago. is the
principal stakeholder of the bank. The Of
ficials claim that they will pay in full in day
or two as they only had q small deposit in che
Chicago bank.
MoBRIsTowH. May 12.-TSpecisl. THE Com
mercial bank suspended this morning because
OF the failure Of the Columbia national of Chi
cago. 1t is thought that it will resume pay
ments in the morning and pay depostors in
full. No uneasiness is felt by the depositors.
MONTICELLO. May l2-tSpecial. The Com
mercial bank OF Brookston closed today. The
principal stock is owned by the Dwiggins syn
dictate. Efforts arc being made TO have a re.
ceiver appointed to protect depositors.
NEw CASTLE. May 13.--lSpecisl.l 1.-The Cit
izens' bank at Spiceland. seven miles south OF
this city. has closed its doors. The suspension
was due 60 the failyTe Of the Capital national