The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-05-12

Total. ...-...................... 3, 59i,Ssi
President Dwiggins assigns the immedi-
ate cause of the failure to a suit by the
Sioux City Loan and Trust Company.
which failed few days ago. The Column
bia bank hs@ SIS, 600 on deposit with that
concern, and news of this fact led to run
which ended in the banks collapse.
lspIAYAroLIs. May 1.-THE Capital Ma
.onai bank, of this city. suspended today
snd the state bank examiner is in charge.
The failure was caused by that of the
Chemical National bank. of Chicago,
which owed the Capital National bank
sl00eo0. The Capital bank also carried
large amount of the Premier Steel Works
paper. and the latter went intoa receiv-
cs hands on Friday last. The bank was
depository for a number of building as
sociations
The officials of the bank have made
statement in which they say that the cap
iial stock was $500, 600; that the bank did
sproiitabe business. was run on con-
seTsative basis. and that there was MOTH
Ing in the banks condition to cause un-
easness till last Tuesday, when the failure
ofthe Chemical National bank, of Chicago,
occurred. The Capital National had S79,-
o" on deposit in that bank and the fact of
lis relations with that bank having been
Known, caused distrust and consequent
heavy drafts. This made the balances
D. heavy against the Capital bank that in
the present financial stringency it was
not thought best TO try TO get outside aid
to tide the bank over, SO il was decided to
suspend. The bank has available assets
Of over 5000 GOO, in addition to the money
In the Chemica. bank. The assets and
liabilities of the Capital bank at the close
Of business yesterday were 81 ,465 a62. The
officers said the business was in such share
as TO be readily settled up. There are
funds on hand TO pay - per cent. to the
6eros.tors, and its paper can be easily
realized on, SO there need be little delay in
getting the balance.
WASHINGTON Cry. May 1i.-Comptroller
Eekies has designated ID. 4. Cook, the
bank examiner from Illinois outside of
. tAlcago to take charge of the Columbia
sa,lopal Bank of Chicago, which failed
iAs morning. lie also telegraphed to
Hugh Dung, bank examiner for Western
Pennsylvania, residing ut Pittsburg, to
I.occcd at once To Indianapolis and take
charge of the Capital National Bank of
thai city
The comptroller has been notified by
the stockholders Of the Chemical National
bank Of Chicago that they Will make good
The impaired capital and resume business,
paying all depositors. both in the main
bank and tho Worlds fair branch, in
iu
NuNNGroy, Del, May 1i.-R. +. Rob
inson, banker and broker. has failed. The
haai.ities are sos. 300. and assets 100000.
he sheriff has seized the property.
:. \. Nc AllSter, attorney for the com
pay, said: The liabilities, actual and
contingent, are about $50, 900 and the
nominal assets about S20i. o0o Judgment
Sas confessed tonight. All trust claims
a" amply protected.
S"rN NN. Ia. May lie. II. Hub
nn1, assignee of the Union Loan Il Trust
Io.ar4ny. the Hedges Trust Company and
4 !. Hedges. today fled estimates of the
sa.at Of the assets scheduled in the three
s~isnments. The Union Loan & Trust
tmpsuy's assets. which were placed AZ
N@la.i rs originally estimated, are
sif~tiN AMI It's liabilities are placed at
s'vtHt. The assets of Hedges. origin
az }aee! n $3,3i7. 900. have been eat
Gown - So. -. and his liabilities are
'%Accd ~ Sl.o-3.0c1. the Hedges Trus:
toHpaoy's assets, rs the assignee est
h1'c. originally. were $1,000. hat these
We assignee cuts down 10 SlN5,0!S. the
company liabilities are 500 olQ.
l7iAy v. VI. Thompson was appointed
Reeve 'or the S.oux City Engine Works.
@ tnqIcat.on Of y, Despago:s Z stock
aer.e'. lAe failure of the company is
e.. gy,l Z. sac SIe.lN CIV National hank