The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1893-07-31
DOLLARS And CENTS.
More Western Banks Have Closed
Their Doors,
AND MORE MILL WHEELS HAVE
CEASED TO TURN.

But 1t is Believed That Bottom Has Been
Touched-The Watch Makers Will
Have a Rest-Nashua Shoe Shops Close
Signs of Returning Confidence in
Business Circles.
NASHUA, N. H., July 29.-The Will
liams belt factory shut down this morn
ing. Work will be resumed Monday but
with only one-third of the help. The
cause is lack of orders.
Moulton's shoe shop shutdown this
morning on account of inability to make
collections. In the two factories 400
hands are thrown out of work.
HAMILTON, Ont, July 29.-The Nc
Neil and Urban Safe and Lock Company,
one of the largest concerns of its kind in
the country, made an assignment yester-
dao. Liabilities, 100000; assets fully
double that amount.
Cov1NeroN, KY. July 80. The Farmers
| and Merchants bank of this city closed
yesterday, by reason of the present finan-
| cial stringency, and inability to realize
on it's securities. Ex-United States
Treasurer Nebeker is the president.
LOUISVILLE, KY, July 29.-The Pine
| vile Banking Company at Pineville
closed it's doors Friday. 1t was consider
| ed the best bank in southeastern Ken-
lucky.
GRAND RAPIDS, Mich, July &C.
| W. Chaplin & Co.'S private bank at Stan
| ton, Montcalm county has Suspended
owing to the rush of depositors for their
cash.
| Leather Company Assigns.
| MILWAUKEE, Wis, July 29.-The r.
Suhm Leather Company, operating the
Kinnicinnie tannery, assigned Friday to
John J. Suhm, who gave bonds for $780,
| 000
Run on Brooklyn Bank.
BROOKLYN, N. Y, July 29.-There is a
slight run on the Brooklyn Savings
Bank. About 100 peaple are in line.
The run is caused by the action of the
savings banks presidents, Friday, re-
| quiring 80 days notice. The cashier
| says the bank is in good condition and
| all the depositors vino demand their
money will be paid in full.
Discouraging Outlook for Watch Making.
WALTHAM, Mass, July 29.-Late in
| telligence regarding the situation in the
watch making centres of the United
States is far from the encouraging. All
the American Waltham Watch Com
pany's foremen have been instructed as
to reducing their working forces. In
some cases there will be cut down of
so per cent and in all 1900 hands will be
thrown out of work indefinitely. OF the
yI,n oro otoir a no
will have to look for reduced pay, Is per
cent. being cut off in some cases it is
said.
Letters received today from the Elgin
factory report the situation even worse
than in Waltham. Sixteen hundred
| watchmakers will be discharged there on
August 1st and the pay roll of $120,000 a
| week will be reduced about one-half.
There are 100000 movements in stock
there valued at half a million dollars.
The concern is all right financially, hav-
ing a surplus on hand of million dollars
of undivided profits.
More Mills Shut Down.
P1TTsFIELD. Mass, July 29.-Hinsdale
Bros. " oolen manufacturers at Hinsdale,
will shut down tonight two of their three
mills. throwing $50 hands out of employ
ment. The largest order ever received
by this firm was recently cancelled and
the outlook is too discouraging to con-
tinue business at present. The third mill
will run five days each week for the pres
ent, employing 100 hands. Mr.. Hinsdale
said this afternoon that he could not
market the goods and was compelled to,
shut down.
D. M. Collins & Co.. who run a large
knitting mill in this city, find business SO
slack that they will probably shut down
their whole plant soon.
New Jersey Savings Banks.
NEWARK, N. j., July 29-There was
slight run on the Howards' Savings In
stitution today. The officers says they
have plenty of money to pay all demands
TRENTON, N. j., July pa run COM
menced this morning on the Trenton
Savings Bank, and by noon about $4,000
was paid out. The bank has a surplus
of $268,000.
Steel Works Shut Down.
BRADDocK, Pa, July 29.-It is report
ed here that the Edgar Thomson steel
WORKS are to close Indefinitely in all de-
partments either during next week or
the week following. Two of the fur
naces were blown out Thursday, and an
other yesterday. This fact lends color
to the report that the mill will suspend
operations. The officials will neither
confirm nor deny the rumors. Six fur
naces are in blast, but 450 men have been
laid off.
Providence Mills Close.
PROVIDENCE, July 29.-The Redman
Manufacturing Company of Lafayette
engaged in the manufacture of Kentucky
leans, has decided to close all of it's mills
during August and part of September.
1t is reported that other mill owners in
the town will soon follow suit.
Western Publishing House Failed.
PORTLAND, Ore, July 29.-Lewis G.
DRYDEN the LARGEST publishing house in