The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-07-25
.4HE TOPPING BANKS.
Bad Failure in Indianapo-
y lis : Some Good
ShoWings.

INDIANAPOLIS, Ind, July 25. 1693.-The
Indianapolis National Bank, capital
100000. closed its doors this morning.
the condition, except that the fall
ure is for sl.2OO.OOO. For sona
days rumors have bsen current TO
the effect that the bank was in trouble,
and those rumors have had the effect of
starting quiet run upon II. which. quiet
though it was, has depleted the banks
funds. and finally made necessary the
action of today. For many wears the Ind
ianapolis National has been regarded
as among the stIongestIbanks In the city.
The suspension is due to Ehe general
| financial stringency.
According to the statement of the bank
| made July Is. the loans and discounts
amounted to S., ,545. .854. IS. while cash aud
securities on hand aggregated $3.50, 900.
| The individual deposits subject to check
were s826.e7o so. The bank was United
States depository and had all the Federal
$780, 0O0.
| The Indianapolis National Bank is one
OF abe oldest and has been one of the most
| t1ourishing banks in Indianapolis aud the
entire West. 1t is one of che landmarks
| at the northeast corner of PsnnsyI-
Vauia and Washington streets, where it
has been located for nearly a generation.
| The gentleman who was president at it's
| organizatian in 1864 is president still, aud
during its entire existence there has
been but two cashiers. E. E. Rex
fordi who now holds that position,
and n. Latham, who was cashier from
the organization until he resigned in
1883. Mr.. Haughey. the president, is not
only the oldest bank president in contin-
| uous service III the city, but he is. with
one exception. the oldest BANKER here.
the liabilities of the Citizens Bank,
| which failed yesterday, are about $50 900.
| Mr.. Huson's total assets will reach near
S500,000. He holds more than enough
| collateral to lQuidate the total indebled-
ness of the bank as soon as il can be real.
lied upon.
| INDIANAPOLIS, July 25. 1S93.-The Bank
OF Commerce did not open this morning.
A Failure in milwaukee,
MILWAUKEE, July %, S93.-Follow1ng
is the notice which was posted on the
Goor of the Wisconsin Marine and Fire
Insurance Company Bank Commonly
called the Mitchell Bank) at ten o'clock
this morning.
By reason of the stringency of the money
market, this bank has been closed by order Of
Board OF Directors.
]. P. MURPHY,
| Cashier.
Tie last statement of the bank, reu-
dered on the first of the month, is as fol-
lows
Resources-Loans and discounts, So 4S5, ,673. 80;
overdrafts, S29, .12; stocks. bonds and mort
cages, S56T, ,4l2. 80; loss and expense account.
$685. IS; due from banks and bankers, 81, ,03S.
472 Al cash. currency, S532, ,361; gold and silver.
S124, 22o.i7; checks Clearing House, Sl6S,-
PSI 81. Total resources, S. 946.344 81.
Liabilities-Capital, $500, 600; undivided pro-
fits, S75e4)67; due depositors, 81 $50 h0394; due
ffN nfh dad aff har
heads, S5Oo.oOo. Total liabilities, Ss,94e, S44 81
Two Go at Louisville.
LOUSY LILLE, KY. July 25, 1s93-Tne
Merchants National National Bank sus.
pended payment this morning A little
later the Louisville Deposit Bank also
closed its doors.