New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-19
ANOTHER TESTsRN BINK GOES DOWN.
THE EVANSTON NATIONAL OF ILLINOIS CLosho
GRAIN DEALER. IN TROUBLE.

TIE EVANSTON NATIONAL OF ILLINOIS Obo7H"
GRAIN DEALER. IN TROUBLE.
Chicago. May Is tspecial.-somc more OF the after
matl Of thh Chemical and Columbia National BANK
failures came to the surface to-day The Evanston
National BaDk, OF EVANSTON which did business VII"
the Chemical, failed to open this morning, TIE i"'
lowing notice. signed by Henry Wells the w'@ioeh''
being posted on the door: Owing to heavy or"'h'
made upon deposits and the stringcncy oil .he
money market this bank su-pends payment ~
rositors will be paid In full All the men connected
with the bank declare that dcposors Will be paid IN
full and that the bank will reopen I'm three days Inc
capital stock OF the institution Is s1OOooo. Inc h'
public statement made March q. when 'he ""o''''.
OF deposits was given is $1G1 ,O23 81. since '''.
Time however the bank has been in bad STANDING al"
dcrositors have gradually drawn out ei''e
Monday the bank. paper has not pc'"
accepted by the Chicago Clearing House. knhi'r'
NJ the shakness OF the bank have been current Tor
the last week or The concern cleared taro"en
the Chemical National until that bank failed lhe"
the officials OF the Evanston Bank requested INV
privilege Of clearing through the Metropolitan ba""'
which consented to pay their checks as long ;'s 'hes
kent enough money at the Metropolitan 10 cover all
claims. Yesterday their deposit became exhausted
and the local bank refused TO honor any more
of the Evanston Banks checks
ronk Examiner Caldwell In regard to the
cause OF the suspension and gave the following State
received orders yesterday from Warrington
,o ex,muc the bank and did ON reporting It's
condition TO Controller Ecke!s. received orders 10
cIo.c thc bank at once. The bank was suffering rom
RIM and Old not have the money on hand 10 pay OUT
4, r,ot,.r. stand there Is $50 900 In deposits I'M
raid see no reason so far. for deposior' not being
rad In full 49,, ~
\ 4 Hin. vice. idcnt attributed the sudden run
70 the failure OF the Chemical at Chicago I'VE GA
moi lose much by that failure. but 1t was known mere
that the Chemical our correspondent shu nv
Thi, scared dcpositors and they began dra"hs ou'
NANCY foser than we could realize on our Securities
Was there no other reason for the run :! I'LL WIS
asked.
After some hesitation he replied; ""'h' sup
roSe our mr., dcn, trouble with number oil i'i'hp'r
d,ols be was I'm bastcncd mittors lie was n heavy
loser by the failure Of the Cairo Lumber COMPANY! ~
WAS also n loser I'm several other lumper i'""''''
rb,s. matters became noiScd about ana 'hc run
hcron, Among the business men about 'o"' tue >''
pcn.ion Is thought to have been caused pS pun
fnancicrinc methods n
This afternoon the Board Of Trade hrm o' y, !"
v,, e. ~ closed If, deals. The firm mas peh
ON the bun side Of for long nHe '''''
ever since the market was In IN" ooS-ah" wv P
since has been rapidly cxhaustng lis ra"s "''"'
The browning trouble was the fact that "'r '"''"'
were locked ND In the Columbia Bank rs Tue III"
ras moi in a position TO respond II rddi'i"ha cans
those having trades with 1t deemed 1t Wn1'ht 10
clos. Thorn out. 80 at the start there was ir'c
selling for fhis account. ana July touched !. e'hts
ttoni 600 900 bushels closed out on IN" ntns
account The falurc-N such IL may ~ ''''c"
produced very little excitement