The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-20
WI1MIYGToN BAYK TRoUB1Es.
Bank Of Hanover Suspends-Runs on
Saving Banks.

WILMINGTON. y. c.. June 19-The
Bank Of New Hanover was not opened
this morning. The following notice was
posted on the doors
owing to the withdrawal Of more
than $500. 600 OF deposits. and the notice
Of over $4,000 more intended Withdrawals
maturing I'm few days. and also to its
inability 20 realize quickly upon It's as
sets, ON account Of the strngoncy Of
the times the Bank Of New Hanover
has been forced 10 make an assignment
20 Junius Davis, IN the interest Of all
concerned. The dep0sitOrs will receive
dollar for dollar. and the business will
be wound up as rapidly as possible.
Signed "A. L. SMITH. Cashier
The general belief here is that the
aboye statement is entirely fair and
honest The assets are estimated at
Sl.250Uo; liabilities at $4,000. All I'M
paid collections Of the Bank of New
Hanover have been turned over 20 the
Wilmington Savings and Trust Company
for remittance. The closing Of the Bank
Of Hanover was followed by a run on
the Wilmington Savings and Trust Com
pany. and the bank was crowded with
depOstors. The bank is paying full
amount on all deposits Of ninety dollars
or under, and ninety dollars on all larger
deposits No depOsitor under this rule
can draw over ninety dollars without
thirty days notice. There seems 90 be
no doubt Of the entire sOlyency Of this
bank. and that II can meet every obI-
cation.
WILMINGTON Y. C.. June 1.-THE
run on the Wilmington Savings ana
Trust Company continues, but confidence
IS being restored by the appearance Oh
n newspaper extra on the streets con-
tanning the official assurance OF d. W.
Atkinson president, ana II. WATERS
vico-presileut. that every dollar on ue-
poslt VIII Doe paid out continuously IN
the regular course OF business. ana that
the doors Of the bank viii not be cIoseu'
Concerning the Bank of New Hanover, IL
may be said with certainty that the de-
p0eit0rs will not Jose a dollar
Tho run on tho Wilmington Savings
and Trust Company has almost entirely
ceased and huge piles of greenhacks are
still standing on the cashiers desk.
Oplnlon Is now somewhat divided as TO
the outcome of the failure az the New
Hanover Bank The stockholders VIII
undoubtedly suffer and some persons rear
der0sitors viii not be paid IN iull. how
ever this does not seem likely from the
present outlook.
The assignment or the Bank Of New
Hanover to-day is without preferences.
SAVANNAH. GA. June ID. " Nor
ton dry goods merchant or NaycIoSS'
has assigned. No statement given out
T,fure Of % savings H1nk.
CHATTANOOGA. TENN. June l9.-Fhe
civ Savings Bank. of this city, was
forced TO ASSIGN tonight. on account OF
a., unfortunate bluuder whereby they
v,ora COMPOUNDED with a coiored insutu-
tton that suspended last Saturday known
ne the Penny Savings Bank. II assigned
SATURDAY.. with less than 5000 liaohities'
ana n messenger Of Dun & Co., IA tole-
rhoning the intelligence % the chlet
hanks OF the city. used the name, CITY
c,,,rgeu instead of penny Savings
tut the error was Immediately corrected.
Tire seed of dlstrust however. was soWn'
and the bank depOsitOrs got wind OK the
unfortunate report. and withdrew over
s910D Saturday. and over N0.oV to-day.
Tho withdrawal was so wholly unex-
pacfed that the bank was forced - as
sian The assets are given at $4,000;
tha liabilities s225 000 The amount due
denosltors is about S2l6W0 Nothing is
dino any local bank. G.. IF. Jaragan was
named as assignee. All depositors VIII
be paid In full.
Million Dollar Failure.
PITTsBURG. June 19-rhe Oil Wen
SUNNY Company has failed. Assets.
s. 10000; Indebtedness Of all kinds $'IyV'-
900