The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-08-18
YET THEY Go DOWN.
The Financial Cloud Hangs Low
in the Eastern Sky.
There Is a Frightening in Spots,
but Still the Storm Is
Not Over.
Special to THE MORNING CALL.

PITTsBURG. Aug. 17.-The Oliver Iron
and Steel Company, one of the largest con-
Germs in this country, went into the hands:
of a receiver to-day. on the application of
the National Tube Works Company of
New Jersey and E. c.. Converse of New
York. The capital of the company is
s.. 100000; apparent indebtedness, $780,
200; bonded indebtedness. S5S5, 900. IL.
w. Oliver was appointed receiver, The
company has. extensive plants in Pitts
burg and Alleghany and employs 1900
men. II is also largely interested in coke
and natural gas. The sales aggregate
$3.50, ,0e0 annually.
George T. Oliver. president of the Oliver
and Roberts Wire Company, said "1he
appointmen: of receiver for. the Oliver
Iron and Steel Company will not affect the
other Oliver operations under my active
-egement. These companies, like other
ness interests, are suffering from the
gency in money and the unpreae-
ed business depression, but so far as l
now see. they are fully able to meet
tr liabilities"
SDIAN APoLIs. Aug. 17.-Receiver Haw-
IS OF The Indianapolis National Bank
d a sworn statement to-day which in
utCdbcS, LIftb pGl w CUIll U1 lE6
banks officers in making lax returns.
:; Chicago, Aug. ia proposition was
made to-day to the creditors of John
Cudal:y whic h will yield 81. $780, 600 instead
of SS00.000. Johns brothers, Michael Ed
ward and Patrick, have signed a contract
to pay the creditors S5e0.00O in yearly in
stallments and 100000 in addition to the
securities which Cudahy heretofore fur
nished. -
DENVER. Aug. 1L-The National Bank
of Commerce renpened for business to-
day with almost 100 per cent of its liabfli-
ties on hand. Fhres mere of the sus-
pended banks are expected to open by Sep
tenn Der l. :
The American National. Bank, which
suspended July i, resumed business this
morning. 81:
DUBUQUE, Aug. 17.-The First National
Bank. one of the oldest institutions in the
city, with capital of 100000 suspended
this morning. The last statement showed
deposits of $500; $780,; The. failure is due to
.withdra walls.
-CIYcTNNATI, Aug; 17.-The STANDARD
Wagon Company. the largest company of
its Kind insthe United States, assigned this
morning TO Grant H. Burrows. The assets
are ST. ZOO coo; liabilities, S70O,0O0- =.
NEW YORK. Aug 17+-Davs- & Co..
wholesale dry-goods dealers of this city
and Chicago. assigned to-day. The liza
blities and assets are about 100000 each,
Stringency of the money market Is the
cause of the failure.
: HUNTINGTON, Pa. Aug. II. = The
national bank at Wyndham. Bedford
County. closed its doors to-day. The bank
was operated by John K. aud George B.
White. who besides operated four large
located at Wyndham. Dry Run
and Manns Choice. which were also forced |
to close down. The liabilities are esti-
mated at $3.50, 900. with assets of s45o,0OO |
PORTLAND. Or. Aug 1T-Depositors of |
the suspended Portland Savings Bank held
a meeting this afternoon and appointed a
of five to wait upon the stock
holders of the suspended bank and request
them to pledge their Individual property as
a guarantee that the depositors of the bank |
will be paid in tnll.
1t is understood that .. P. Thompson |
has resigned tbs receivership and that II.
d. Northrup will succeed him.