The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-18
sETERAL BANK FAILURES.
Five State Institutions In Kansas Go
Under-to orsdo Failures.

Under-to orsdo Failures.
DENVER. COL. July 1.-THE Peoples
Savings. the Rocky Mountain Dime and
Dollar and the Colorado Savings Banks
failed TO open their doors for business
this morning
The assets OF the Peoples Savings Bank
are 81. $4,000; liabilities, N,S50.e0 Presi-
dent Lawrence Of the Peoples National
Bank. SAYS the failure Of the savings in
stitution will I'm no way affect the Feo-
pies National Bank
II IS understood that all the consign-
ments were preconcerted and Tor SELF
protection Of the depositors. The direct
cause of the failure was the universal
hard times and inability to realize on
securities They declare each deposltor
will be paid in full. and that the insttu-
tions will again be opened. The bank
IS taking advantage Of the thirty ana
sixty days notification law, and Is pay
ing out no amounts over twenty-five dol
lars.
President Lawrence. Of the Peoples
Savings Bank. I'm a statement this morn
ing. said the bank up 20 six weeks ago
/ had n most successful career, having In
! deposits 81 10000 and had paid TO It's
| dopositors in interest sll2,4s2. The cause
| less run began on May LIST, and really
continued mp 20 last Saturday night
when the entire available means OF the
bank were exhausted. and nothing was
left but 90 assign. The officers OF the
institution pledged their estates to it's
support
Most persistent efforts were made TO
obtain temporary assistance 10 tide the
bank over. and up % four days ago
this necessary assistance was promised
by Eastern corresponding banks; but
since the doings Of the recent silver con-
vention in this city became known, the
promises were cancelled by telegraph,
and no alternative was left us-with no.
tlces amounting 10 nearly 10000 for With
drawals Of deposits maturing within the
near future staring us i'm the face and
the cash on hand paid down TO $223-but
| 10 make fun assignment for the pro-
| lection and benefit Of all.
The failure Of the Savings Bank will
/ I'm no way affect the Peoples National
| Bank. which. with all other national
| banks. IS perfectly sound. and anticipate
no trouble outside Of savings banks.
| ATLANTA. GA, July 1.-THE First
! National Bank al Cedartown. Ga. closed
| its doors to-day. The suspension was
/ caused by inability 10 raise funds at
once out OF coHaterals. RumOrs OF n
| shortage on the part Of one OF the bank
officials are denied. and II is asserted that
/ depositors will bee paid i'm full. The bank
viii resume as a State bank soon. The
bank was capitalized at 5000; surplus
] $1,000
KANSAS CITY. MO, July 1.-THE
stars special from Topeka. Kan, says:
state Bank Examiner Breidenthal says
the Hood & Kincaid Bank, Of Pleasant,
Kan has failed The capital stock is
$50. 600 No statement is given. Commis-
sioner Breidcnthal has information of a
number OF other bank failures in the
state. but he declines 10 give the names
until he has taken possession.
KANSAS CITY. July 1.-THE bank Of
Grand Avenue and the Missouri National
Bank suspended payment az noon to-day.
SIX Kansas Banks Go Under.
TOPEKA, KAN. July T-Six Kansas
State banks went I'm the financial furry
to-day They are the Bank Of Ritter and
Doubleday OF Columbus the Johnson
city Bank. Of Johnson City; the Bank Of
Weir city. the Bank OF Pleasanton. the
Bank OF Caney Valley. the Bank of Caney
and the Bank Of Meade, at Meade Centre.
II is impossible to obtain statements at
this time.