The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-08-22

ChFe6 Gays ana Is acquainted With tDe
facts relating to the suspension Of tie
bank, As soon as the necessary prep
arations can be made warrants will be
Issued for the arrest of the men who
appear TO be guilty of having violated
the national banking laws.
NASHVILLE, Tenn, Aug. O. The First
Nation Bank of this city suspended
after banking hours this afternoon. &
statement has not yet been given cut
WAsECA, Mimi, Aug. 9.-The PEG
pies Bank Of this city failed to open
Yesterday. The directors held a meet
ing Monday evening and voted to sus-
pend. Saturday and Monday there
was a heavy run on the bank, with
drawing so much Of the funds that
demands could not be met. Assets are
$135, 600, liabilities $67, 600.
NEW ORLEANS, La, Aug, "a run
vas started yesterday or the Germania
Savings Bank, and all who came were
promptly paid. When the doors of
the Germania were opened this morn,
ing there was a motley group Of peo-
pie waiting On the outside with their
deposit books. The savings bank man
ayers last night night decided to en-
force the sixty day clause. This action
has apparently had the effect of allay
ing the fears Of ~deposit0rs and the run
has ceased.
MINNEAPOLIS, Aug 9-The CONNER
cial Bank of this city closed its doors
this morning.
The Hamilton Loan and Tcust Co.,
New York, has gone into the hands Of
q receiver.
Fuller Bros. & Co. n Of the largest
hardware firms in New York. and a
very old firm, assigned on the 9th.
The Automatic Piano Company,
New York is in the hands of receiver.
The liabilities are $40, 900; assets
$40, OOO.
WASHINGTON, Aug 1I-Conp5roll9r
EckleB was informed this morning of
the suspension Of thu Waxahacbie Ma
tionaI Bank, of Waxahachio, Texas.
Capital, 500, 600
NEW YORK, Aug. 1.-THE failure Of
Washington Burrows was announced
at the Consolidated Exchange this
morning
EBENsBURG Pa Aug. 1O.-The bank
ing firm Of Johnston, Buck & Co Of
this place, conducting banks at EDens
burg, CarrOlltown and Hastings, closed
their DORIS at noon to day and placed
the following notice at the entrance:
We have assets in excess Of our liabIii
ties, but owing to the Constant demand
on Us for currency III the last twenty
four hours We consider 1t 30 the best
interest Of all concerned to suspend
payment for the present.
Twenty big failures Was the record
made in New York City on the 10th,
NASHVILLE, Tenn Aug 1O.-The
suspension of the FIRST National Bank
last evening was followed TO day by
the suspension Of payment by the
American National Bank, one of the
largest and strongest in the city. The
bank has a capital stock of ST., OGO, coo
and a surplus fund of SIG, 600
LEROY, N. Y, Aug 1O.-Frank O,
Lathrop's bank has closed it's doors.
Kinny. He claims all depositors will
be paid in full and ascribes the failure
to the tightne5s of the money market.
CHICAGO. Ill, Aug. 1O.-The South
Side State Bank, State and Thirty first
st1 eets, passed into the hands of a re
ceiver yesterday afternoon. The bank
has been doing business since June 1 and
the volume of business transacted has
been small. The capitalstock was placed
at 5000, 900, but it is alleged only a
small percentage Of this sum was paid
in The deposits will not exceed $1S,-
900 and were made largely by the
various stockholders of the bank.
From present indications it appears
that John B. Koetting, cashier of the
now defunct South Side Savings Bank,
practically looted the bank before leav-
ing the city. It is estimated that he
took at least 500, 900 in money and
securities, and now Receiver Barth has
attached Koetting's individual prop
erty in the hope that some of the stolen
money may be recovered.
KINGSTON, Aug. 1O.-The Caldwell
County Bank at this place and the Elk
change Bank of Polo closed their doors
yesterday morning. Both banks are
owned by John D. Cox. There is no
run on other banks.
ST. PAUL, Mimi, Aug. 1O.-Assignee
Westfall filed a statement of the assets
and liabilities of the bank this after
noon. Even the most cursory reading
of the documents shows that the Seven
Corners Bank was not swamped by
hard times, but was wrecked by it's
cashier, @. A. Hawks.
BEATRICE, Neb., Aug. 1O.-Jacob
Bond, president of the defunct Bank
of Cortland, was arrested last night.
T. G.. Severine, q member of the State
legislature, sWore out the complaint
against him, and the principal charge
is that of receiving deposits after the
bank was known to be ~insolvent.
LOWELL, Mass, Aug. 1O.-Faulkner's
Mills have posted notice of shut down
for two weeks from Friday night in
all but the dyeing and finishing de-
partments. The mill runs 1900 spindles
and 142 looms and employs 500 hands.
WINSTON, N, c., Aug. liking
Brothers Pure, Food Company, doing
business on Third street, assigned to-
day, naming Colonel Thomas FL. STRAIT
ton trustee. Liabilities, about S., 900;
assets, So, 500.
PUEBLO, Aug. 1O,-The steel plant of
the Colorado Fuel and Iron Company