The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1893-08-10

States.
Robert P. Coleman Of Lebanon Valley,
Pa, multi millionaire, lately failed for
S2,G04,OO0.
The Milwaukee Woman School will not
open this fall. It has been losing ven
ture of late.
Even the n. Y. Central has been COM
PEELED to reduce its expenses by lessen
ing the number of its employees.
A premium Is being paid now on sill
yer for the purposes Of change. The f.
nancial situation presents many peculiar
phases.
The boarding up of money has caused
a famine in small bills, They are needed
for pay roll purposes and now command
a premium.
J. G. VERSIONS store at Milwaukee
caught fire on Monday morning and it
and the water used in extinguishing il
destroyed $4,000 worth of goods.
A train wreck on the Lake Shore &
Michigan Southern near Cleveland, Ohio,
on Saturday night, resulted in the injury
Of twenty-five persons; three were killed.
Congress is in extra session now. Crisp
!, was reelected speaker the republicans
voting fol- Reed and the populists for
Jerry Simpson. The latter received
seven votes.
The stockholders of the Milwaukee
National Bank have decided to resume.
| 1t is probable that the Commercial Bank
which closed at the same time. will take
| similar action.
Twenty two excursionists we're drown
ed IN lake IN Wales on Monday last
They were in boat which was managed
| by inexperienced hands and it upset
| drowning all the occupants but six.
The Oldest bank OIL Wheeling, w. Va,
whose stock is quoted at 145, had to close
It's doris on Monday owing to the con-
slant drain upon it. is assets exceed
It's liabilities by S35O,OOO and they are all
| first class.
The city of Milwaukee is raising money
| for city expenses in a very sensible way.
The taxes for 1898 are received now and
the persons who pay are allowed a GER
tam rate of interest. This puts money
In circulation.
There is movement afloat to keep the
Worlds Fair open during the summer of
1894. 1t is not at all likely that exhibit
tors would consent to permit tier ex-
hlblts to remain over winter or that they
would return them in the spring.
The gold shipments from England to
the United States last week amounted
to Sl1,0OO,O0O. This large sum and the
increase IN the issue of national bank
notes will certainly improve the times.
Indeed there are abundant signs of i'm
provemeut now.
The National German-American bank
of st. Paul, failed on Friday last. This
bank had a capital of S2,O00,OOO and it's
reported assets are very nearly double its
liabilities. Two smaller banks failed the
day following. This was the first taste
of the panic st. Paul has had this year.
Comptroller Eckels reports the condi-
ton of the Milwaukee National Bank
which suspended some time ago, as ex.
cellsnt. The bank examiner now in
charge has already collected $4,000 of
what was due it. The bank will be al
lowed to resume II the stockholders 80
desire.
The engraving and printing bureau at
Washington is kept busy these days in
getting out national bank notes. The
national banks are expanding their circu-
lation and hence the demand upon the
bureau. This enlargement of circulation
Will help relieve the str1Dgency consider
ably.
Many of the national banks through
out the country which closed their doors
are about to reopen, the bank comptrol-
Ter having declared their condition good
1t very often happens that the current
which sweeps away rotten institutions
takes with it many things which should
be allowed to stand.
The affairs of the South Side Bank of
Milwaukee were in a bad condition at the
time OF the failure. Koetting, the cashier.
knew this when he left Milwaukee with.
out informing any one of his destination.
He was located at Denver but before he
could be arrested he quietly left and his
present whereabouts are unknown.
John Johnston, until within the last
few months, cashier of the Mitchell bank
and one OF its stockholders has made an
assignment. This was done not because
of any personal obligations but because
it was feared some creditors OF the bank
would levy attachments upon bis prop
erty and thus prevent the general credi-
tors from securing their rights. The
bond required was 100000.
There is general reduction of wages.
The Z. st. 2. NJ. & o. road lately reduc-
ed its shop forces 40 per cent. The At
las Paper Co. OF Appleton shut down for
an indefinite time on Monday. Fish Bros. |
of Racine have reduced wages 20 per
cent, salaries for August not to be paid
until October and September salaries
later on. The Menasha Wooden Ware
mills have shut down because the en-
ployes would not accept a reduction of |
Uapas !