The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-05-13
A STRING OF BROKEN BANKS.
Ten Weak Institutions Put Up
Their Financial Shutters.
The Principal Cause Traced Straight TO
the Chicago Faiiures-A Wholesale
Whisky House Gees Under-Dun's
Report OF More Encouraging Nature.

KoKoMo, Ind, Mas 12.-rho State
Bank of Russiaville did not open its
doors this morning. 1t was a small
Institution controlled by the Columbi
National Bank of Chicago. Some OF
the stock is held by farmers in the
vicinity. The officers claim that neither
depositors or stockholders will lose any,
thing
The Bank of Greentown has close d it's
doors The suspension is due to the
suspension OF the Chemical National
Bank OF Chicago.
TOLEDO, Ohio, May 12.-The Ottawa
County Bank at Gilmore, q branch of the
Chicago Columbia Bank, has closed its
doors and the bank officials are not to
be found.
INDIANAPOLIS, Ind, May lathe
bsnks Of the Columbia National string
at Moreystown and Greenwood have
failed Moreystown bank is OF con.
siderable Importance, having capital
OF SIS. 600.
The Farmers and Merchants Bank
OF Geneva, Ind, closed its doors at noon.
1t was the Oldest institution OF the kind
in town.
CHARLEvoIX, Mich, May l2-W. P.
Brown & Co, bankers, doing business
under the name Of the Bank of CHARLIE
voix, have made an assignment. No
statement has yet been made as to the
cause OF suspension.
PAwPAw, Mich, Nav 12-The man.
ayers of the local bank at Lawton did
not open this morning, having left town
last night. Citizens have some $4,000
deposited in the bank.
CHICAGO. May 12.-At o meeting of
the directors of the Chemical Nations
Bank yesterday it was resolved to reor-
ganize the bank and resume business at
the earliest possible moment. 1t was
also resolved that il after examination
now being made by the comptroller of
the currency the capital stock shall be
impaired the impairment Shall be made
good.
PORTLAND. Ind, May 12.-The Dun
kirk National Bank of Dunkirk, owned
and controlled by Dwiggins, Starback
81 Co, OF Chicago, failed today with
liabilities OF at least $4,000. The firm
| owns number of other banks and
they are reported to have gone to the
wall, 100.
CINCINNATI May 19-The private
banking firm OF Dwiggin, Starback &
Co. have failed. Liabilities not stated
LONDON, May l2.-The rate OF dis.
count was raised to az. The com
pletion account absorbs the attentio of
jobbe RS and brokers at the stock ex.
change. Thus far in the course of set
Element seven small brokers have failed.
A better feeling prevails in the market
for American railway securities.
LoUIivILLE. Ky, May I2.-The
Wholesale whisky firm of w Il. Thomas
" Sons suspe nded payment this morn.
ing. The different bankers with which
the firm has done business place the
excess of assets over liabilities at from
100000 to $500, 600.
Convoy, Ohio, May l9-The Farmers
Bank of Convoy closed its doors to day,
caused by it's relations with the Colum
bia National Bank O, Chicago.
New York. May 12.-R G Dun &,
| Cos weekly review OF trade will say:
The smash in industrial stocks a week
| ago, the failure Of some firms and OF
the National Cordage Company and the
largest decline in stocks known in any
week since 1873 have been followed by
surprisingly little disturbance
Business has shown remarkable
| soundness and strength un Ter such a
strain, although disquiet!ng rumors are
naturally frequent. The bank failures
at Chicago and Indianapolis, and
rumors of others, reflect large losses
through Chicago speculations in real
estate and grain, and at Indianapolis
through the failure of the Premier
Steel Co., but commercial credits are
not as yet materially affected. There
is more buying OF commercial paper
than week ago, and while foreign ex-
change has risen above the exporting
point, no gold is yet ordered for ship
ment, as banking houaes reckon upon
larger exports of products before long.
| Interior money m alters are growing
tighter and more cautious, but no such
stringency is yet seen as to check gen
eral trade, which appears to have some
what iu proved with more seasonable
weather.
The weekly iron output May 1 shows
$4,000 tons increase for the month and
is 3,700 greater than year ago, while
unsold stocks decreased IL 900 tons In
April. Good pig iron is scarce, but
somc Southern brands are pressed for
sale. The demand for bar, plate, struc-
tural and sheet iron is better in volume
without improvement in price.
Business failures during the last week
number for the United States 257 and
Canada %; total, $50.
|
Death of Mrs. Elizabeth wertz.
Mrs Elizabeth Weriz, widow OF Jacob
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