The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1893-07-20

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.
E 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 ssdeprsesion in the
trade. Adolf Schleisi1ger,,s ons, LOT
the organizers of thu sy6dicate,
says the output was reduced IS 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 care: Tie
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 yearsago by Schleis-
niger Brothers, and. it is said, on insult
fcient capital. 1t is also saidthe syn
dictate went too deeply into railroad
building r 90 s''Ss''
schlesinger's properties have over
81, 0O0. 900 worth of paper held by Mil
waukee banks, and it L. considered
probable they will help him out.
Schlesinger began operations four years
ago and has cut large figure in the
iron trade. He was embarrassed ten
years ago, but sold the Escanaba, Iron
Mountain T. 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. 49,.
PEORIA, ILL.,, July 19.-William Ober.
hauser's private bank failed Saturday,
much to the surprise of the community.
The liabilities are $50, 433, 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-
lshed institution. Charles Tehrmann
is assignee.
8 CARMI, ILL.,, July 17.-The old bank
ing-house Of Hay & Webb has made a
general assignment to P. A. Pearce.
Assets, $216,2 67; liabilities, $3.50, 600.
Hay & Webb have been in business
here for thirty-five 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. - 80
CHICAGO, July 17.-The George w.
Ludlow Shoe company made an assign.
ment in connection with its 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 / lust and
since that time has conducted its bust
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 Plainfield, N. j., receiver of
the Garwood steel works. The COM
pany was originally a Boston concern.
The works are at Garwood, N. Y. and
$500, 1000 has been lost in following a
new process in making steel car wheels.
CHICAGO, July 1.-THE Boaton 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 el.5, 600;
liabilities at $500, 200. f,%> =,
CINCINNATI, July II. - The John
Kaufman Brewing company went into
the hands of a receiver Saturday.
Pressing claims and ina bility to obtain
ready cash caused the action. The as
sets are given at 5000, 900 and the liabili.
ties only $50, 200. -.'-s 80 70