The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-08-01
CONTINUED PRosPRR1rYO
"The Best Financial System in the
World" and "Reform" Continues to
Turn Out Victims by the Hun
dreds--Bank and Commercial
Failures Growing More
Numerous--A Few

Fal4uEeS GToW1ng More
Numerous--A Few
of the Largest.
Maj J. B. Neal, a large farmer and
merchant neal Meals Station, N c.,
made an assignment on the 18th of
July.
Edward L. Pell, publisher of a re
ligious paper at Richmond, Va, has
assigned. Liabilities 81, 300.
Mr.. Kenny Rose, merchant, Win
ston, assigned last week.
INDIANAPOLIS, Ind, July 25.-The
Bank of Commerce and the IndianapO-
lis National Bank have closed.
MILWAUKEE, Wis, July 25.-The
Fire Insurance Bank has closed. No
statement.
MILWAUKEE, Wis, July 25 Cashier
KOetting, of the suspended South Side
Savings Bank, is missing and also the
general ledger of the bank. The liza
bilities will u up into the millions.
The Southern Electric Company, one
Of the big enterprises Of Baltimore,
Md, madea voluntary assignment yes
terday. Failure to collect over, due &C
counts made it impossible for the com
pany to meet its obligations. The as
sets of the concern are estimated at
| GIL ,OOO, LlAO14lG4CS plOO,O OU.
CONNORSVILLE, Ind, July 24-The
Citizens Bank, owned by ex-United
| States Treasurer Huston, failed to open
its doors this morning, owing to the
stringency. Liabilities and assets not
! yet made known. Depositors will, it
is said, be paid In full.
TOLEDO, Ohio, July 24-This morn
ing the Ohio Oil Well Supply Com
pany, operating in the Ohio oil fields
at Findlay, Fostoria, Marietta, Rising
Sun, Vanwert and Pittsburg, Pa, went
into the hands of a receiver upon the
| application Of Edward Fl. Cole, of
Brooklyn, N. Y. One Of the largest
| stockholders, Eaton, in his petition,
states that the company Indebtedness
will amount to over $500, 900.
TACOMA, Wash July 24-The Taco
ma National Bank, one of the strongest
III the Northwest, suspend ed this morn
ing. This bank has been assisting other
banks in the city for the past six
months.
LOUISVILLE, July 24-The Louisville
City National Bank closed it's do RS at
1 Is this afternoon.
GREAT FALLS, Mont, July 24-The
Merchants National Bank closed its
doors to-day at noon. A notice, signed
| by the directors, was posted, and stated
| that all dep0sitOrs will be paid in full.
The bank held $21, 600 city funds, $50,
600 county funds and 500, 900 of State
funds, There is nc uneasiness about
other banks here.
VERNON, Texas, July 22-The State
| National Bank OF Vernon closed its
doors yesterday. Every cent of money
was paid out except ten cents before
the doors closed. The failure is due to
inability to realize on the securities.
The directors state that the depositors
will be paid in full.
LOUISVILLE, KY, July % The Ken
lucky National Bank, of this city,
| closed it's doors this morning The
capital stock is 81, 000, coo, paid up.
This bank is also a government de
pository and its last statement showed
$3.50, 900 to the credit of the govern
ment. Loans and discounts outstand-
ing amounted to 81, 7l9, 966 and the sur
plus was sos, 500.
MEMPHIS, Tenn, July 22.-The Citi-
zens' bank Of Jellico, Tenn, the only
banking institution at that place, failed
to open for business yesterday. No
figures are known.
GREELEY, Col, July 22-The Union
Bank made an assignment yesterday.
1t is thought that the step was volun-
tarily taken to avoid a contingency
that might arise should some creditors
take advantage of the attachment law.
The bank is perfectly solvent. Not a
depositor will lose a dollar.
MILWAUKEE, Wis, July 22.-The
Southside Savings bank did not open
it's doors this morning.
There is a heavy run on the German
| A~oo-1oon noI MnTOhonfOb Fv0horrn
banks.
LAMPAsAs, Tex, July 80 The private
banking house of j.. and L. w. Gal
braith, failed to open its doors yester-
day, having made an assignment to J.
l. Campbell. The liabilities are $50, 600
the assets, $12O, 900.
A run on the First National Bank
was started, but it was fortunately in
a position to withstand all demands.
DepositOrs in Galbraith's bank will
be paid in full.
Topeka, Kan, July 22.-The First
National Bank of Anthony closed its
doors yesterday. The assets are 1854,
600 and the liabilities $50, 600.
MILWAUKEE, July 21.-The First Ma
tional Bank of this city has failed.
KNOXVILLE, Tenn, July 22.-The
State National Bank of this city closed
it's doors this morning. The bank has
long been known to be the weakest in
the city. Yesterday when $50, 900 in
deposits were withdrawn, it is more
than it could stand.
BIRMINGHAM, Ala, July 22.-The Bir-
mingham baseball club, now playing
in Memphis, will disband to night be-
cause of a lack of funds to pay the
players and continue the club. The
present management say that they
have already sunk over one thousand
dollars, and they called on President
Nicklin, Of the league, for aid but IN
vain.
CHICAGO, Ill, July 24.-Bradford &