St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-16
BUSINESS REVERsEs.
The Daily Record of Financia
Failures


LONDON. July 15.-The failure is an
nOunced today of Ernest NJ. Z. FreSson.
stock and share broker OF No. Austin
FriarS.
KANSAS CITY, July 15.-There was a
quiet run Oh the National Bank of Com
merce as soon as that concern opened
for business this morning. In state
ment made yesterday the condition of
the bank was shown to be good, and the
officers assert they will be able to with
stand long run, which, however. they
think will not be necessary. Their
statement sh Jws cash on hand $I,l41,-
655, with deposits of 81, or, 1927, showing
required by law. They are capt.
talized at $2,OO0O0O. But little excite
ment prevails, and it is thought the
bank will pull through all right, as the
bank ranks with the strongest.
The directors OF the bank held
meeting TO consider the financial situa-
ton yesterday. After very carefully
examining into the condition of the
bank the members of the directorate
signed an agreement individually pledg-
ing their entire estates for the security
of deDoSitors. There was not a member
of the board who heSitated to sign the
tire amount of deposits held by the
bank, so great was their confidence
ill its stability.
the directorate represents combined
wealth of 81, 000,000.
KANSAS CITY, July 15.--Bank EX-
aminer q. w. Galbreath this morning
took charge of the suspended Kansas
City National bank, which suspended
yesterday.
CARMr, H., July 15.-The private
bank of Hay IL Webb, of this place, has
made an assignment. The assets are
about $4,000 and liabilities about
S16O.000. AT the meeting of the creditors
of the insolvent bank held last night,
series of resolutions was adopted, plac-
ing the affairs of the bank in the hands
of j. K. " cub and committee of three
creditors, Leonard Pyle. James Nc
Clintock and George Clark, to wind up
the business. The general opinion is
that the creditors will be paid i'll full.
NEW YORK, July 1.-Two hundred
thousand ounces of silver were shipped
to Europe today on the New York.
KANSAS CITY, July 15.-The. North
rup Banking company closed its doors
this morning and voluntarily placed
itself in charge of State Bank Commits
sioner Breidenthal. j. S. Chick, presi-
dent of the National Bank OF Kansas
City. which suspended yesterday, is also
president of the Northrup Banking
company. and that fact caused a run on
the latter bank this morning. While
the condition of the bank seems fairly
good, the officers of the bank did not
care to jeOpardiZe their assets by meet
ing the run, and at 10 O'Clock closed the
banks doors. The bank has paid-up
capital of 100000, with a surplus OF
n l. M r.
liabilities 1915, 900. 1t is believed de-
positors and creditors will ultimately be
paid in full.
The Armourdale (kan.) sbank at No.
416 Kansas avenue. Armourdale, sus-
pended payment at 3 O'Clock this after
noon aud was placed in the hands of
Bank Commissioner Breidenthal, Of
Kansas. The liabilities are So, 900, and
the assets about double that amount.
They consist largely of real estate
security. j. E. Taylor, OF Seneca, Kan,
was president.
Tie bank had capital stock of $780,
600, ana a surplus of 4,5O0. Thirty
days ago it had $50, 600 OF deposits, but
that amount ha4 been reduced one-half.
The officers believe the depoSitorS will
be paid in full.
CINCINNATI, July 1.-Two receivers
were appointed for the John Kaufman
brewery Saturday morning. The appli-
cation was made by Mrs. Mary Kauff-
man. widow of the late John Kaufman,
TO Judge Wilson.
She owned 10000 shares of the stock.
Notes amounting to 100000 will fall due
in August. Owing to the strIngency of
the money market the company could
not realize money TO meet them. They
claim the assets amount to $500, 900, and
liabilities to $4,000.
Attorney Frank Shelter and Brewery
Manager Emile Schmitt were appointed
receivers.
An effort will be made to effect set
Element, and continue business.
CHICAGO, July 15-The Ludlow
Shoe company made an assignment this
afternoon.
CHICAGO, July 15-The Boston
Foundry company assigned today. AS
sets S175,O00, liabilities $500. ZOO.
NEW YORK, July 15.-WilI Abeles,
manufacturing furrier, made an assign
ment today to George Fragner without
preference.
PEORIA, H., July 15.-The private
banking house of William Oberhouser
closed its doors at / O'Clock this after
noon. 1t was one Of the oldest estab-