The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-26

Bank. Milwaukee people had become
imbued with the idea that this bank
the old Mitchell Bank-was the Gibraltar
of finance: that they could not credit the
report that Il had closed. There was
general belief that when all other bank
Ing institutions have disappeared from
the face OF the earth, that the bank
which Alex Mitchell founded would con-
tlnue "a 10 business az the corner Of
East Water and Michigan streets. and
Il was this firm faith In the bank sta
bility that made the shock to public con-
hdence so great.
A few minutes after 10 o'clock the news
that the bank had not opened it's doors
began TO circulate on the streets. and i'm
mediately A rush began In the direction
Of the Mitchell building. People would
not believe what others told them. but
insisted on crowding up the marble
steps and reading the notice Of suspension
for themselves.
The story of the failure is one so often
told uov-a-Iavs. steady and long-cOn-
tinued drain Of deposits and inability 10
promptly realize cash upon collections.
The bank is solvent ana wealthy.
TOLEDO. o.. July 25.-The Farmers
National Bank Of Fmdlay. o.. closed its
doors at noon to-day. No statement has
been given out as yet. No excitement
prevails. and the other three banks I'm
the city are prepared for any run that
may follow
INDIANAPOLIS. IND. July 25.-The
indianapolis National Bank suspended
The failure is for sl.2OOOOO. For some
days rumors were current that the bank
was I'm trouble. and these rumors had
the effect Of starting a quiet run upon H.
which. though quiet depleted the banks
funds. and finally made necessary the ac-
tiOn Of to-day
LOUISVILLE. ky. July 25.-The Mer-
chants National Bank suspended pay
ment this morning
INDIANAPOLIs. IND, July 2j.-The
Bank Of Commerce did not open its doors
this morning.
WASHINGTON. p. C., July EXAM
iner Mcdonald has been directed 10
take charge of the f0ied First National
Bank OF Orlando, Fla,
MILWAUKEE,. WIS. July 2j.-Late
this afternoon the !. Obcrmann Brewing
Company made an assignment II. r.
Obarmann is the assignee, and his bond
is 81, 10000.
Ioolieh iiun on fhc German Bank.
LOUISVILLE, Ky. July 2.-At
O'Clock this evening a small run was
caused on the German Rank by an Old
colore1 woman. who had fifty dollars
deposited there. She did not have the
ccrthcofe with har, and loudly de-
manded that she Doe givcen her money
without Identification. The noise she
made attracted attention. and I'm a. few
moments a hundred people were about
the bank Tie officials had a strong
box. said 10 contain S30.00 brought over
from the Louisville Trust Company. The
money was spread out on the counter.
and the cashier announced that no. was
ready To- pay off amy and all claims q
Few Of the deposit0rs drew their money.
but the others were speedily satisfied
that the German Bank was ln no danger.
and left
Subsequently "A heavy run started on
the German Bank. ana continued mp TO
O'Clock. The bank had over a million
in cash and ST $4,000 worth of securities.
which can De turned into money at n
moments notice. Several OF the banks
kept open until 6 o'clock.
business rnrarras,ment.
TOLEDO. O.. July &c. =. Hodge
man Manufacturing Company. one Of the
lereest concerns i1 husky. went into
tie hands of receivers this morning
ST LOUIS. NO, July 25.-ltipley e
Bronson iron merchants, no. $40 north
Second street made an assignment for
the benefit of their creditors this morn
ing. Liabilities, $4,000 About equal