Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-05-18
WESTERN BANKS CLOSING
Many Institutions Forced to
Suspend Business.
PULLED DOWN BY THE COLUMBIA
The Capital. of Indianapolis,
May Resume.
Banks of That city Rally to Each others
aid--an Alarming List of Failures
Bank Examiners Cautioned To BE Dill
gent and Careful.

Dt the Capital National Bank IN tins
city was followed to-day BY the sus-
pension of numerous small banks in the
northern part Of the State. These we're
banks started by the Dwiggins- Starbucll
syndicate Of Chicago, which owned the
Columbia National, itself under suspen-
sion. The Indiana agent in starting
these banks was Ex-Governor Ira ].
Chase. The banks at Greenown, Rus
siaYilIe, RossyilG, Orleans, Freeport, o.;
Rockford, Mich; Dunkirk, Bro0kston
and Greenwood, have suspended and
reports indicate Il shaky condition Of
half dozen others.
There is still no alarm felt for the
Indianapolis banks, and it is said the
as its directors declare its paper is gilt
edged. National Bank Examiner Pack
ard is now in charge. An officer Of the
clearing house said to-day u am in
clined 10 believe that q great deal of the
paper, ut least the greater part OF ii, will
be found gilt-edge. The associated
banks will stand by to save the credit Of
the city, and with the assets and assess
able stock that the bank has there is no
reason why the dcpositors should lose a
dollar.
"l'hc line Of demarcation between the
methods Of the Capital Bank and others
here is 50 well defined that it allays all
feeling of uneasiness and ii is safe TO say
that the danger is over. Another thing
very much in our favor is the fact that
there are no savings banks proper. The
small aeposltors, thosc who would have
their sCant savings in bank, and,
through fear oil losing it, would make a
run, have their money in building and
loan associations. This removes an elc-
ment Of danger"
MANY BANKS CLOSE THEIR DOORS.
RussTAvILLE, ND, May l2.--The
Commercial State Bank could not meet
its demands owing TO the suspension
Of the Columbia National Bank Of
Chicago. 1t is thought that the directors
were panic-stricken by the failure ot
the CollGnbia and that they should have
continued business.
The Commercial Bank is one of about
30 banks in Indiana that are thought
to be connected with the Columbia
National.
Perhaps as many private banks are
also related to the Chicago concern to
some extent. The Portland Bank thai
suspended yesterday was the largest oi
the group. This was the first state
bank to close in Indiana in 20 years
the directors records show that the
bank has Il capital of $4,000 and de-
posits to the amount of $4,000, Its
assets are about $4,000.
A special dispatch from Kokomo says
the Farmers Bank at Greentown, under
the same management as the Russia
vile bank, also suspended to-day
Liabilities are placed at 100000.
The bank 1t Brookston, Wohitc
county, suspended. No statement Of
lis condition has been made 1t wa.
controlled BY the Columbia National oi
Chicago.
The banks Of the Columbia National
string al Moreystown and Greenwood
are said to have also failed The Moreys
town Bank is Of considerable import
ance, having a capital Of $4,000.
CHAELEyoIX, MICH., w. i. Brown
Co., bankers, doing business under tht
name of the Bank OF CharcyoiX, havt
made an assignment to Il. w. Kane. N,
statement has yet been made as TO tht
cause Of the suspension.
PAW PAW, MICH.-Great excitement
prevails at l4awton. The managers OF
local bank there did not open the in
st.tGlion, having left town. Citizen.
naye some SlS,0O0 deposited in tht
bank.
GoNvoY, O.--'I'he Farmers Bank D
Convey, o., closed its doors, caused BY
lis relations with the Columbia Natona
Eank Of Chicago. No statement Of til,
banks condition has been made.
k'nRr WAYNE, ND News OF the sus
pension Of the Farmers and Merchant
Bank, at Geneva, Ind, reached here. |
was the Oldest institution Of the kind il
Tie town,
Toledo, O.-rhc Ottawa COUNTY
Bank at E.imore, u branch Of the Chi
| catp Columbia, hls closed It's doors anC
the bank Officials are not TO be found.
OTTAWA, iIL.-lilChard j. lIorniGk
banker, merchant and spGculuur, q
Grand Ridge, made an assignment. Eht
cause o! the assignment Is given us
ran on Ills bank.
kDwAEDsBt nG, MICu-rhe Citizens
Bank closed its doors. About @3J,0Ot
OF local deposits, together with town
ship and school funds are Affected. /
was a branch Of the Chicago Columbia
HIGHLAND, AlTCfI.---Ehu Union Bank
branch Of the Columbia Naiiona
Bank OF Chicago, closed its doors
| Cashier Watts says the deposltors wil
be raid in full.
GRAND RAPIDS, MICu.-'rhe privat
banking Institution Of Paris " Nave, Il
Rockford, Kent county, closed lis door
upon orders Of the Proprlrtors, who llv
at indianapolis. l'he bank did lively
business among the farmers. 1t m4
affected by the failure Of the Capita
National Bank Of Indianapolis.
BANK EXAMINERS CAUTIONED TO 81
DlIIGENT.
WAsHiNGToN, May l2.--Telegram
have been received ~ the Treasury De
| partment from New York and otne
| cities, inquiring Us TO the truth oi re
ports that special examinations nave
been ordered OF particular nationa
| banks. kumors To this effect appear I,
| have been started in various CONNER
cial centres to-day. The foundation 10
| them seems that the Comptroller OF th
| Currency has issued circular instruc
| tions to bank examiners generally, en-
| joining special diligence upon them a
the present time, but his instruction
have no specific reference to any par
ticular bank or banks in any one city.
INDIANAPOLIS, lSD., May l3,-Johl
W. Paris and j. shannon Nave, unde
the partnership style Of Paris \ Nave
bankers, have from their quarters, il
the old Sentinel building, in this city
| heen controlling several small banks II
the State.
Upon the report Of the Golumbi