St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-19

Mercantile Savings bank, with capital
of 100000, announced. Its assets are
sufficient to pay all liabilities in time
AT 9 O'Clock, the closing hour, there
were hardly half dozen people in any
of the institutions except the above.
d. Ii. Moffatt, president of the First
National, stated that the deposits at his
house during the day had greatly eX-
ceeded the Withdrawals. This bank has
always been most cOnservatively man
aged, and is almost exclusively owned
by Mr.. MOffatt.
Ihe general opinion among the bank
ers,and business men is that the panic
Is over, and that no more banks will be
Obliged to close, although the run in
mild way may continue against two or
three banks for day or two.
r 1T is believed by financers that to-
days run will result in the people hav-
ing more confidence in the strong
banks, and that the money withdrawn
today will at once be redeposited and
better feeling be established in financial
circles, which will make money easier.
The suspended banks expect to re-
sumo business in short time.
The constant drain on the banks by
scared depoSitorS has brought about the
crisis. 1t is stated by bankers that no
less than SS,000,0G0 has been drawn
from the banks in the last three months,
OF this $3,G0G,000 has gone to the East
i'll regular lines OF business, but there is
5000, 5000 boarded in the city. The
safety deposit vaults are full, and there
is reason to suppose that the homes of
workingmen contain secret places in
which their savings are hidden. If one
fifth of that amount were into circu-
lation. the stringency in Denver would
cease.
FORT SCOTT, Kan, July 1S.-The
First National bank of this c .ty, the old
est financial institution in Southeastern
Kansas, suspended payment. The First
National was established here in 1871,
and was the oldest and largest national
bank in Southeastern Kansas. 1t had a
capital stock of S300,OOO, fully paid in,
and has always stood All runs. Some
of theheaviest dep4SitorS of the bank
say that they are confident they will
not lose dollar, and that The bank will
resume business at an early date. \
run on the Peoples Savings BANK was
started, but the thirty-day law was
taken advantage OF. and the bank thus
saved from being swamped. The fall
! uIe of the First National has no effect
OH the other banks.
KANSAS CITY, July 1S.-The Stars
Topeka CKan.l special says: State Bank
Examiner Briedentha this morning re-
| ceived notice Of the failures of the Cit
liens Bank OF Kansas City, Kan: of
| the Bank OF Richmond. and of the
! Farmers and Merchants Bank Of Ossa-
watamie. The concerns all did a small
! business. Statements are unnbtainable.
! NEGAUNEE, Mich, July 1S.-Supt.
/ Cole returned from Milwaukee, where
he conferred with Ferdinand Schles-
! singer, president of the Buffalo Mining
! company and head of the Schlpssin ger
! Syndicate. 1t is expected that money
| for the payment OF ali claims on which
! attachments were based will be forth
coming III few DAYS. Other creditors
manifest no uneasineSs. and general
| opinion is that the embarraS>m will
| be speedily overcome. Dispatches from
| Iron Mountain say tnat the employees of
the Chaplin mine at Iron Mountain,
operated by the syndicate, will be paid
a month wages by Wednesday. which
Is favorable indication OF the synui-
Gates ability to Weather the Storm
ADA, o., July IS The Citizens bank
! closed its doors This morning. Cashier
7. Ahlefeld made an assignment to his
brother, \. Ahiefed, of Kenlon o..
Monday night. 1t was private bank
and furnished the only banking fac:Ii-
! ties H. the town. The amount OF assets
t'iiNa lie'NIIiliNo COll'I IlNl Uc ltdEiitu, Out
it was the general impression that it
would pay i'll full. The streets were
filled with dep0siIors awaiting a state
! me- mt as to the condition or affairs.
| Ahleteld Is contractor ON the $50, 900
/ SCHOOL building, runs planning mill
/ plant and large brick yard. He has
/ been considered very comser, alive
/ business man. lie belongs to d wealthy
| andiinfluential family.
ANACoRTEs, Wasn.. July lS.-The
Bank OF Anac0rteS failed to open its
doors today owing to Inability to realize
ON securities. Liabilities. $50, 600;
assets, $2S, 600. Depositors will be paid
in full
ARMoURDALE, Kan, July lS.-The
Citizens bank suspended payment to-
day, with ASSETS OF Sl5l,5 and liabiii-
ties of Sl26.5J0. State Bank Commits
sioner Breidenthal took possession of
the bank. Among the heavy creditors
of the bank is the COUNTY of Wyandotte,
which had ON deposit Some $4,000 of its
funds