St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-26
BUSINESS TROUBLES.
Senator MitchelI's Bank at MIL
waukee Closes-Other Failures

MILWAUKEE, Wis, July 25.-Follow-
ing is the notice which was posted on
the door of the Wisconsin Marine and
Fire Insurance Company bank at 10
O'Clock this morning: "By reason of
the stringency Of the money market
this bank has been closed by order of
the board of directors. [Signed] J. p.
Murphy, cashier" The capital stock
was S5O0.0O0. Cashier Murphy says the
bank is not inSolvent; that it has ample
assets to meet every liability, and that
Senator Mitchell and John Johnston,
men OF great financial strength. are be
hind 1t.
INDIANAPOLIS, Ind, July 25.-The
indianapolis National bank, capital
500, 100, closed its doors this morning,
No statement has been made as to the
condition. The Bank of Commerce, one
of the smaller banks, did not open to-
day.
LOUISVILLE, Ky., July 25.-The Mer-
| chants National Bank of Louisville has
suspended. The Louisville Deposit
bank has also suspended.
LOUISVILLE, KY, July 25.-Jake
Schwartz. tue liquor dealer, announced
to-day that he had suspended. He owes
$4,000, three fOurthS of which he says
is secured, and with time he claims
he can pay Off the rest and have some
thing Tor himself.s Lately he did bust
ness at Third and Nam. He is a
brother of Moses SchH artZ president of
the assigned Louisville Deposit bank.
AT l 80 this afternoon the Fourth Ma
tiOnal bank closed its doors.
ST. LOUIS, July 25.-1he St. Louis
Steam Heating and Ventilating COM
pany at 1917 Pine street assigned this
morning to john d. Ripley as trustee
for the creditors. The liabilities are
placed at $40 600, with liabilities above
that SuIh.
MILWAUKEE, July 25.-rhe F. ODER
man Brewing company made an assign
ment today. Stringency in money cir
Giles is given as the cause. The com-
pany turned over its property TO Her
mann L. Obernann as assignee. Tie
court fixed the latter's bond at $780,
UUU, the American Surety company and
It's local vice president. A. A. Hatha-
way, and Fred 5. Abbott qualifying
as sureties. The following cl inns
against the brewery were due and
could not be met. Wisconsin Marine
and Fire Insurance company'S bank,
S1S9,L00; Commercial bank, 81, 900; es-
tate of q. OUermann, $4,000; other
claims, 100000; total, S290,000. The
brewery was founded in 1854 by jacob
Obermann, and its present officers are
Fred l.. Obertnann, president; George
j. OOermann, vice president; Philip
ODermaun, secretary and treasurer.
FINDLAY, o., July % The Farmers
National Dank, one of the popular fiscal
institutions of the city, closed Its doors
at noon today because of inability to
realize upon its assets, and the comp
trUller or the treasury was at once noti-
ned 10 take the bank In charge.
ST. LOUIS, July 25.-Ripley d Bron-
sou, iron merchants ana dealers IN all
kinds of iron, mHde an assignment this
morning. Liabilities, $150,0O0; assets
not given. but probably close to the
amount of liabilities. The usual rea-
son, stringency in money circles, is
given as the cause.
TOLEDO, o., July 25.-The g. B.
HUdgeman Manufacturing company,
one of the largest concerns i'll the city
or Sandusky, went into the hands of a
receiver this morning. The court APP
pointed Clark Runue, of Sandusky, as
receiver.
louisville, Pa, July 25.-E. j. Gay
ner, sthe railroad contractor, has made
All assignment for the benefit of credit
OrS, without preferences. Gayner has
done considerable work Of late years tor
the Pennsylvania, Norfolk q Western
and Lehigh Valley companies, ami at
present Is engaged on a section of the
new Lehigh Reading link, connecting at
WllliamSpOrt with the Lehlgh at Ber-
nce. Judgments amounting to nearly
sou, 900 have thus far been entered. As
SeIS nominal.
DENVER, July 25.-The report of the
assignee OF the Chicago PeOple'S Say
ings bank, f. q. Scnrader, has been on
file nearly a week Ill the Office of
the clerk of district court, but
has not been given out tor
publication. The assignee, who is also
the cashier of the bank, places the assets
at less than the liabilities, showing
that will no doubt excite some sus-
PIGEONS. The figures placed the liabili-
ties at 81, 125, $3.50, aud the assets at
81, l24, 45l.09, tile excess of liabilities
! over assets being Sl,216.46.
The failure OF the indianapolis Ma
tiondl will result in Inconvenience 10
laborlng people of the city, as a large
percetage of them have their savings in
that bank. The funds of the
Grand Lodge of Indiana Odd
Fellows, and the Odd Fellow
Mutual Aid association were IN
the bank on deposit. The bank was
also the depository of the general gov
eminent, and funds for the federal
court, the pOStOtfice and the pension
agency of Indiana will be tied up indefi-
nitely. The International Typograph-
ical union, whose headquarters are To-
Gated here, had $4,000 in the bank.
President Prescott says. however, that
the organization has money on deposit
in Philadelphia and no inconveniece
will result unless the money here
should be lost.
The Central Chair company, employ
ing 100 men, closed down this evening
owing to the failure. The company had
large deposit in the indianapolis Ma
tiOnal bank and all it ready money is
therefore tied up.