Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-07-03
ALBUQUERQUE'S CRASH.
Failure Of the Albuquerque National
Bank and its Savings
Bank Annex.
Public Funds to the Amount of $780,
900 Tied Up-Clairns That it
Will Pay Out in Full.


Will Pay Out in Full.
The Albuquerque National bank and
the Now Mexico Savings Bank & Trust
company, Of Albuquerque, failed to open
their doors for business this morning.
Numerous kilograms were received here
shortly after 10 O'Clock announcing the
failure and the news created much COM
ment in business circles and particularly
in official circles, as 1t was known that a
considerable amount of the territorial
funds were held by this institution.
THE ALBUQUERQUE NATIONAL.
This bank was established some six
years ago by s. M. Folsom, who now
serves rs president; John A. Lee, the we'll
known lumber merchant, vice president;
G. G. Hall, cashier. In addition to the
first two the directors nre Gen. G.. A..
Williamson, land commissioner for the
A. ~ p. road; E. D. Bullock, of the sta
tionery firm of Bullock. & Baker, and M.
z. Stamm, of the grocery and commission
house Of Sammis & Stamm.
BIG TIGuEEs
Tho bank advertised capital and sur
plus of S210,0c0. BY its last statement
May 4, it is shown that its loans and dis
counts amounted to $42O94125; it had
on hand cash amounting to $71 ,964.O1,
and it carried deposits amounting to
$415,559.43.
THE SAVINGS BEREAVEMENT.
In connection with this bank and oc-
cupying the same handsome building was
Savings Bank & Trust company which
was established some three years ago.
II advertised paid up capital of $4,000
Its officers are d. L.. Sammis, presidents;
A. W. Jones, vice-president, s. NJ. Folsom,
treasurer. In addition to these the
directors are: John A. Lee, G. W. Ken
nedy, Richard English. NJ. 2. Stamm, w.
W. Pope, Fl. u. Folsom. Many depositors
had interested themselves in the 'sdime
savings" feature of this bank and the
total amount of deposits is somewhere
between $4,000 and $4,000
TERRITORIAL Funds.
It win BIO remembered that the last
legislature passed On act designating the
Albuquerque National bank as the terri
torial depository, without bond, but that
afterward supplementary act required
a bond for the sum of 100000, the same
to be approved by the governor, treas
urer and auditor.
At the close of business on Saturday
the bank held, under the territorial de-
post law, the sum of $4,000. This is
secured by its bond upon which are the
following sureties: John A. Lee, $4,000;
Wiley M. Weaver, $4,000; VIM. Fraser,
$4,000; D. Fl. Rohrs, $12,50o; J. f. Luthy,
$4,000; M. P. Stamm, $4,000; D. D. Bull
lock, $12,500; W. F. Metcalf, $4,000; Sol.
Luna, $25, 900; Jesse M. Wheelock, $12,5O0;
O. E, Cromwell, $4,000; F. Mandell, S12,-
500; ]. f. Jaramillo, $4,000; A. Brisacher,
$4,000; s. M. Folsom, $12,50O; Neill B.
Field, $12,500; A. J. MalloY, $12,5OO; A.
M. Codington, $12,5O0; j. d. Torlina.
$l2,500; D. L. Sammis, $4,000.
OTHER TERRITORIAL FUNDS.
In addition to this the Albuquerque
National also applied early last month
for it's share of the territorial funds dis
tributable as loans at per cent up to
40 per cent of the capital stock, under a
law passed by the last legislature, and it
secured, on this application, loan of
| $4,000, for which it gave a special bond
to the territory for double the sum
loaned, with John A. Lee, w. M. Weaver,
W. B. Slaughter, Solomon Luna, Chas. W.
Lewis, as sureties.
The savings bank and trust company
also carried loan of $500 of territorial
funds, which it received June last, and
on its bond as sureties are D. L. Sim.
mons, M. P. Stamm, Neil B. Field, s. M
Folsom, G. w. Kennedy.
Thus it appears that the territory has
cash to the amount of $49,5OO tied up in
the failure.
| FURTHER DETAILS.
In response to the New MEx1oAN's tele
gram for particulars the following came
to hand:
Special to tho New Mexican.
ALBUQUERQUE, July 3.-The Albuquer
que National banks failure is proclaimed
by the officers to be only temporary ane
it is claimed depositors will be paid II
full. A notice on the door states that:
"Thesuspension has been brought abou
by unusual heavy demands by deposition
since the suspension of the California
bank about ten days ago and the absolute
impossibility during the present genera
depression to call in cur loans"
The New Mexico Savings Bank & Trus
company, an adjunct to the Albuquerque
National bank, is also closed, with abou
the same notice posted. John A. Lee
vice president of the National bank, state
that all depositors will be paid in full il
both banks.
Territorial funds to the amount o
$49,500; Bernalillo county funds to tn
amount of $4,000 and school funds tt
the amount of 100000 were recent,
deposited in the Albuquerque Natioua
bank.
No run has been started on other oft,
banks.
The Excellent Mechanical Work o.
the New Mexican Printing
Company.
Expert Draper recently devised new
system of records to be kept by licens,
and tax collectors, justices of the peace