New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-14
CHICAGO FEELS EASIER.
NO NEW FAILURES REPORTED THERE.
DwIGGINs SAYS THAT HIS BANKING AMI
TRUST SCHEME WAS APPROVED BY
SENATOR SHERMAN.

SENATOR SHERMAN.
tBY TELEGRAPH TO THE rKiBrSE.l
Chicago, May l3.--Iocal financial anairs
were rather more quiet to-day There were
no outward indications Of trouble. but rumors
were freely circulated that one or TWO OF
the Younger banks had been compelled to obtain
help TO tide over the day. These stories eooiu
not he traced to an authentic source There are
M particularly new developments in regard to
the Observation-Disclosures failure, except the col
,suse Of two more country banks The News"
today printed dispatch from Washington, max
inc some sensational charges against President
Zimri Dwiggins, asserting among other things
that the examination so far into the affairs OF
,hs failed hank indicates that the law has been
Hsgran,ly violated, and that when the eXamina-
tim il complete Dwiggns himself will he SHOWN
IN he a debtor directly or indirectly to the oahh
N the sum Of perhaps 100000. The assertion Is
further made that the money has been loaned 10
nrivste enterprises. of which he is the moving
spri,. much OF it being real estate. security ana
and other schemes purely speculative
When Mr.. DwiQgins was asked this evening wna'
he had 20 say in reference TO the Statements -
expressed great surprise. That's not tr"e' S""
he. IL only owe the bank on two notes aee''e''
Ing not over Slu, 900 As for speculation we "e'.
interested in the Mecca Hotel enterprise oil"
nothing else ,,,,
Mr. pwisgins desired to make general denial
NJ the statement that he had been guilty oil any
~ronedong. He volunteered the interesting s'a'e
ment that his multiple banking and trust co"'-
many scheme had been submitted to Senator oher-
man for his inspection. and the plan approved ny
sbat noted financier after long and careiui s'uuS
AFR Dwieqins declined TO say when the Ha''e'
WAS admitted 20 Senator Sherman or II inc
opinion retlrned was in writing lineage 'a
err place little credence In the story
pank Examiner Stureis has this to say OF '''e
.,,u.,;o,. Tho suspension OF the Chemical ana
Columbia did not surprise the Ioh'ro@er Vi Wv
Currency or myself We have had them on the
sick list for some time, and have urgently tried
% GET them 10 do better. i had finally deter
mined 10 make an examination Of the Chemicai
Nationals affairs the first Of next week. eA.
smined the Columbian National last month anu
was not surprised when it closed its doors en-
pectcd IT, so far as the other banks are CON
cerned do not think Their, is another bank IN
all the national system going to have tIe ieaS'
hit Of trouble Some OF the banks have had cash
drawn out pretty freely, but they are not gong
20 have any trouble II they should the other
banks. the stronger ones, have plenty OF money
they will be glad TO et them have on iair Sc
curty."
Wild rumors were afoat here this morning with
regard TO the PAnkington Bank Of Milwaukee,
on which a run was made. The bank, anticipating
the rum called in a balance OF $4,000 which IL
had with the Continental National OF this city, ana
arranged 10 have IL sent up on special ialn early
tLis morning, 50 IA Ia reach Milwaukee, peioic
banking hours. From this started story which,
by noon had magnifed the amount 10 81 ,ooo,ooo;
and with the added statement that this amount had
been sent up by Philip ID; Armour ole miiil4n-
aire hacker 10 save the bank. When Mr. Ar
mour was seen. he said You can say there LIS
no truth in the statement that have sent 81 ,0oo
600 any other sum OF money 10 the fiahking,
ton ponk I don't think IL needs any financial
assistance II is AZ COOL as gold. and under these
circumstances il would look peculiar for a con-
Inc fact that William Plankinton is a heavy
holder in the hank macs IL ludicrous TO think OF
sending money from Chicago