The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-05-12
TWO MORE BANKS FAIL.
The Columbia of Chicago and the
Capital of Indianapolis Go Up.

Indianapolis, Ind, May 1.-THE Capital
National Bank of this city has suspended
The statement is made that the closing of
the banks doors was made necessary by
the failure of the Chemical National Bank
of Chicago last week, which institution
owed the Capital $4,000 The bank also
carried large amount of the Premier
Steel works paper. The latter concern
was placed in the hands of receiver on
Friday last.
ASSISTANCE REFUSED.
The bank opened as usual at 9 o'clock,
but 1t was simply opened pending an at
tempt to meet run on it from depositors
with the assistance of the other banks.
The Capital was not member of the
clearing house association and has been
at war with it, When the other banks
We're asked for assistance they met and
declined to render any. The doors of the
Capital were then at once closed by order
of the directors. The first public intima-
tion of the failure was the placard pasted
In the window, and the excitement for a
time was intense.
RUN ON OTHER BANKS.
A number of people withdrew their de-
pOsits from other banks. The Bank of
Commerce had quite a run 1t is con-
trollers of the Premier steel works, now
in the hands of a receiver Some of the
paper of the steel company was held by
the Capital Bank. The Bank of
Commerce was prepared for all
emergencies and confidence was
soon restored. The actual
liabilities of the Capital are about 81 ,050,-
000 The paid up capital stock is $500, 900
and the assets are estimated at $3.50 900,
NJ p NAf1cpy, Y,,aufIof,f nd ,.l,c
B. Doherty cashier. The failure may en-
danger the solvency of banks at Vincen-
nes, Sullivan and Gas City, in which
Messrs. Wilson, Doherty and others
are large stockholders and between
which and the Capital intimate relations
existed. The controller of the currency
has telegraphed that special agent is on
his way to take charge of the bank II is
believed that the Capital will pay 100
cents on the dollar.
A CRASH AT CHICAGO.
Chicago May 1.-THE Columbia
National Bank of this city has failed.
In the report of the banks condition,
made by its officers at the close of bust
ness, May 4, the deposits were stated to
be nearly 81 ,5000 900. The capital stock of
the bank is S1,OO0,O0O The failure was
due to unprecedented Withdrawals Of de-
posits during the past two weeks, amount
ing to nearly 5000 000 Yesterday de-
mand for 100000 was made by
customer. The demand was met,
but it so impaired the condition of the
bank that it was decided to seek the aid
of other institutions to-day. This was
done this morning, but the rival banks
were not inclined to give temporary as
slstance till an examination of the banks
affairs had been made. AT IL o'clock it
was decided to announce the failure of
the institution and notice to thai effect
was posted on its doors.
A BIG FAILURE AT WILMINGTON.
Wilmington, Del May 1.-THE an
nOuncement this morning of the failure
of r. Il. Robinson g. Co, bankers and
brokers of this city, created q profound
sensation. Rumors of the failure of this
well-known firm have been on the street
for several days and business circles have
been excited. The liabilities of the firm
are estimated at $500, 900, while it is said
the assets will not exceed 100000 The
sheriff has seized all the property of the
bankrupt firm.
LONDON BANKERS SUSPEND.
London, May 11.-Hallett g. Co, navy
agents and bankers, have suspended
The suspension has caused a sensation in
military and naval circles at West End
as many officers are depositors with the
company, but commercially the failure is
of slight Importance. The members of
William Charles Hallett and Wiford Hal
lett, and their place Of business is Z St.
Martins place, w. G..