New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-26
TWO FAILURES IN INDIANAPOLIS.
,Irr RANK OF COMMERCE AND THE INDIANAPOLIS
NATIONAL CLOSED,


IndIonapolis, July 25.-The indianapolis National
pons caital 1900 OOO closed its doors this morning.
vo statement ha, been made TO Its condition,
cxcept that the failure Is for S1200,OOO For some
DAYS rumors have been current That Tie oahh ""S ~
trouble and those rumors have had the erect vi
starting Il run upon 1t. which. quiet though II "a''
has depleted the banks funds and hnaiiy m"u'
necessary the action OF today For many Years
tho indianapolis National has been regarnN as
among the strongest banks In this city. III" sus-
n.n.,on OF the bank Is due 10 the general financial
strngcncy.
The currency OF the rumOrs which naugnrated
the rnn and the fact that the management ola not
sufficiently realize the extent Of the talk concerning
the bank prevented them from making timely prepara-
,ion for the worst Yesterday the talk OF the last
week gained new impetus and during the day 50
MANY OF those holding large deposits withdrew ther
balances that in view OF the lack OF time In which
70 prepare for to-day's drafts, Its suspension was
made inevitable.
The indianapolis National Bank IS enc OF the Oldest
and has been one OF the most nouisliiDg banks IN
INDIANAPOLIS and the entire West. II Is one Oh ui"
landmarks at the northeast corner OF Pennsyivaha
and Washington sis.. where it has been located ior
nearly Il generation. The president at its orsan'1'
ton in 1864. T. p. liaughey Is president SUM- a"~
dur NC its onii:c existence there have pech OUT Nv"
cashiers F.. T.. ReXford who now holds that p'si''"'
and H. Latham who cashier from the oreah'.s
,op until bo resigned I'm 1888. Ah. Iaughey L. WIN
one exception the Oldest banker here. lie said 'ns
morning. -, an.
Il was not aware until saturday evening OF 'he
p,ovtv of The situation. The Louisville ana New-
Albany failures seemed aggravae the local nnahc.
situation in such way Us l" p'"' WV
spreading of fatal rnmors ,
The following Is list OF the heaviest stocKnoioe's
Of the indianapolis National Bank:
r. r. Hluehcy, $1,000; IL. sauerwae. s.'ovs
Scot butler ss. 500 Citizens state Bank Nashuiis'
~ 900: J. L. stephens slO,OOo Ada Carey sloooo n
y y ps,rce $40 600; Ellen W. CoIfaS, sif,ooo; D. W.
Dc,ouw 81 700: f. l.. Depauw, sisoo; y. L. Depau"'
a, ooo. G. w Depauw $1,000 Union Guarantee SAVINGS
.,, co,eord ~ H. 5000 First National Bank.
ro,.ord n H. $4,000; l.. Season2ood so'ooo ~
casonooot 1000: f. Ingalls, $1,000; cooper insurance
Com,any Dayton Ohio si2,0oo; IL. b. Jessup so,oo0s
Ssan~,a, cofax. 500; IT, W. Marsh. $1,000; L. ".
Miller 81, 900.
T., ,ts tax returns April the bank reported q sur.
,,,. q, So 600 and real estate valued at S33 yOOO
rho last statement Of the Indianapolis National Bank
,ssued July IL, as follows
posources-Ioans and discounts 81 5i5 s5f 10; over.
,..n. secured ani unsecurci So so, United States
bonds to secure circulation. $50 900; banking house.
furniture ami fixtures $4,000; other real estate and
mortgages owned, sls7Oo; United bonds to %.
euro deposits $4,000; due from approved reserve
agents si5 1893 rs due from other National banks s1e.
39 49, due from state banks ana bankers 052S 0Ss
checks and other itrms s5,C3C IL exchanges fos
Clearing House $l5 iOs 0J ILLS Of other banks. s:4..
273; fractional paper. currency nickels and ccnt@
1882 05 specie sI.5c6 IS; iesal-tender notes. &C.,
Cc0-s6s3 $40 72 Redemption fund with United Stscs
Treasurer Is per cent Of circulstion), s2SS0.
- -3i315358
LisLnItles-CspiAl stock paid In. ssooooo; ss~