Griggs courier., 1893-07-21
soReLy TRIED.


However-Business Troubles ut Other
| Points,.
KANSAS CRY, NO., July 16.-Satur-
day was trying day for the banks of
Kansas City but they weathered the
storm admirably. The failure of the
National bank of Kansas City iive min
utes before closing time Friday created
a very paniclky feeling and all the
bankers opened their doors Sat-
urday morning expecting ''runs''
of more or less consequence. The
publication of the statements of oil the
banks in the morning papers was calcu-
lated to restore confidence. The banks
were prepared as well as could be to
withstand any attack and as soon as
the doors of the Bank of Commerce,
the Missouri national, the Met
ropolitan, the Union national and the
Midland were thrown open the people
began to collect about them and many
drew out their deposits. Only, how
ever, in the Bank of Commerce, the
Missouri and the Metropolitan were
there any well-defined runs, and these
banks withstood them successfully.
A run by heavy depositors caused the
suspension of the Northrnp bank, the
oldest financial institution in Kansas
City, Kan. The assets are placed at
e475, 900, with liabilities amounting to
s315, 600.
The Armourdale bank at 415 Kansas
avenue, Armourdale, suspended pay
ment at o'clock in the afternoon and
was placed in the hands of Bank Com
missioner Breidenthal of Kansas. The
liabilities are $35, 900 and the assets
about double that amount
A number of the Kansas City banks
kept open until o'clock, but very few
of the depositors availed themselves of
the opportunity to withdraw their
money. The banks are amply prepared
to meet any further demands made
upon them, but it is thought that the
furry is over and the excitement ended.
CLEVELAND, O., July IA dispatch
from Ishpeming, Mich, says that the
Schleisinger' syndicate, the largest ore
operators in the world, are in difficulty
owing to the depression in the
trade. Adolf Schleisinger one of
OAC OISoAAACIS VI Cnc SyuulCdCc,
says the output was reduced 25 per
cent. some time ago. ALL the mines
are in Michigan and the central Of
fee is in Milwaukee. The plants
owned by the syndicate are: The
Chaplin Mining company, the Buffalo
Mining company, York Mining COM
pany, Arogan Mining company,
Claire Mining company and Sunday
Lode Mining company. These individ-
ual companies, all owning mines, were
consolidated four years ago by Schleis-
niger Brothers, and, it is said, on insult
ficient capital. 1t is also said the syn
dicate went too deeply into railroad
building.
Schlesingers properties have over
100000 worth of paper held by Mil
waukee banks, and it is considered
probable they will help him out
Schlesinger began operations four years
ago and has cut a large figure in the
iron trade. He was embarrassed ten
years ago, but sold the Escanaba, Iron
Mountain & Western railway to the
Chicago & Northwestern railway and
pulled out of difficulties. If matters
cannot be fixed here it will probably
lead to trouble at his numerous other
mines, employing nearly $500 men all
told.
PEORIA, ILL.,, July 19.-William Ober-
hauser's private bank failed Saturday,
much to the surprise of the community.
The liabilities are $50, 422, against
scheduled assets of $69,637. The as
signment is due to the loss of money
in the American national bank at Kan.
sas City, and it is the first to be made
here during the present financial
troubles. The bank was an old .estab-
lished institution. Charles Tehrmann
is assignee.
CARMr, ILL.,, July 1.-THE old bank
ing-house of Hay & Webb has made a
general assignment to P. A. Pearce.
Assets $216, ,267; liabilities, $3.50, 900.
Hay & Webb have been in business
here for thirty-flve years and enjoyed
the confidence of the entire community.
Large loans ON long time, large sums
invested in real estate and the strin-
gency of the money market caused the
failure. All creditors will be paid in
full.
CHICAGO, July 1.-THE George w.
Ludlow Shoe company made an assign
ment in connection with it's failure at
Elgin. This is one of the largest whole
sale shoe concerns in the country. It
removed its factory and offices from
Chicago to Elgin January 1 last and
since that time has conducted it's busi-
ness in the latter city. No financial
statement has been made.
New York, July 17.-Chancellor Nc
Gill at Jersey City has appointed John
G. Paul, of Plair field, N. j., receiver of
the Garwood steel works. The COM
pany was originally Boston concern.
The works are at Garwood, N. Y. and
$500, 900 has been lost in following q
new process in making steel car wheels.
CHICAGO, July 17.-The Bouton Foun-
dry company. located at Thirty-ninth
street and Evans avenue, made an as
signment in the county court Saturday
in favor of the Equitable Trust compa-
ny. The assets are figured at s175, 900;
liabilities at 100000.
CINCINNATI, July II. - The John
Kaufman Brewing company went into
tho De n r,no;,,o.