Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1893-06-10
Resources.
sources. .....
liabilities.

D . o. o . % -ttli
Liabilities
Due depOsltors. .......... 81, 674,350 40
Due others. ............ $4,000 90
4 CaplJl. ................. 100000 90
Surplus. ......,.... 95,641 30
Total liabilities. .......$2,3 1903 ,991 70
Cashier Momsen said: "The deposit
ors need not be apprehensiye of losing
their money Every dollar viii be paid
but it will take a little time, probably
not over two weeks. Arrangements
that have been under way for several
days relative to a reorganization of the
bank fell through at 0 o'clock this
morning and it was thought best to sus-
pend temporarily in order to properly
adjust matters. AS to the cause of the
trouble other than that the bank needs
a little time to get its affairs straight
ened out the suspension has no sig
nificance whatever Our correspond
ents throughout the state viii not be
affected in amy way. The relations of
the bank with them were such as to
be in its favor. Regarding n reorgani-
cation nothing can be said at present
The most important thing is that every
body will be paid and this may be
stated as pronounced as possible.
Opinions of Bankers.
The opinion among bankers in the city
is that the suspension will not materi-
ally affect the banking business in the
city One leading banker said: THE
trouble over there was owing to the
delays in the steps to reorganize, which
seem to have been Unnecessary Had
the matter been taken promptly by the
horns when it was apparent that it
was the only thing to do, people would
not have become uneasy and every
thing would have gone along all Iighi
The name Of Plankinton was sufficient
had all other moves been made at the
right time, but it is said some Of the
larger depositors grew uneasy with the
manner Of procedure and for some
time they have been quietly withdraw
ing their money. Each one Of them
took out a good-Sized sum. This is
what seemed to have frightened Mr..
Plankinton and caused the suspension.
allowed to suffer :"
johnson Mcclure cashier of the Mil
waukee National and manager of the
Milwaukee clearance house, said: 1T
was as much of Il surprise to me as it
could have been to you or anyone We
had no intimation here until $50, when
notice came to the clearing house not
y a,
do not think anyone Will lose by the
suspension and | do not apprehend that
it will cause trouble among other bank
ing institutions, as there is no reason
why it should There is no trouble in
any Of the others"
Grant Fitch, cashier Of the National
Exchange, said: 1T was the only thing
was natural to expect l should say
that no one will lose by it, rs the gen
tlemen interested viii see that all are
paid in full. The deposits have been
sinking right aong since the trouble and
a suspension became natural. / pre-
sumo William llankintOn will be made
assignee and that the affairs viii be
Nbulu up ac last dS l'bcNAAAt anu tAlttA
all claims will be settled AS to the
effects, l do not see why this suspension
should cause any trouble elsewhere, UNI
less it comes to some busir aSs concerns
which need money and viii be unable
TO get it just when wanted.
THE suspension" said c. F. Ilsley
is most unfortunate thing, but / am
inclined TO think that no depositors will
be permitted TO suffer 1t was an I'M
fortunate business transaction and the
result was inevitable
+. J. Kipp Of the Merchants EX-
change bank, said that the failure Of
the PIankinton bank would not affect
the other banks in the least. we all
knew it must come he said. and we
prepared TO meet the little c.lsis that it
would create. There is not Il bank in
town thar is not stronger now than it
has beer"
The failure win affect the banks
customers and through them the other
banks" said \. B. GeilfllSS. ~ the
Commercial but there viii be no direct
eject On the other banks Ii Is a very
great surprise. We did not know until
this morning that they were not going
to reorganize"
Archie Duby, a resident If Florence.
was fined $50 and costs on a charge Of