The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-30


WHY credit should not be sound.
mo nation" said Harter, "has eyer sue
ces.fully carried on business under two
standards"
PORTLAND'S TROUBLE.
Three More Banks Fail to Open Their
Doors.
PORTLAND Or, July 29-Three banks
failed TO open their doors this morning.
They were the Commercial National. Port
land Savings and Ainsworth National.
With the exception of slight run on the
First National there is no excitement.
A notice posted on each of the suspended
banks says the banks were forced to tenn
porarily suspend, owing TO tho heavy with
drawal OF deposits during the last sixty
days and inability to realize on securities.
DopoSltors will be paid In full.
The Commercial National Bank has a
paid-up capital stock of $3.50. 600. Frank
Dekum Is president.
The Portland Savings Bank is under the
same management.
l.. L. Hawkins is president of the Aims
worth National, which has capital stock
Of 100000.
The statement of the Commercial Ma
tional and Ainsworth National published
July IL, shows the resources as follows:
Commercial, $780, 600; AinswOrtb, $685.
0OO Deposits = Commercial, $1.450. 900 !;
Ainsworth. $4,000.
The Ainsworth National is United
States depository.
No statement is yet made Of the condi-
tion of the Portland Savings Bark.
1t has capital stock OF S260.000. with
surplus of 100000.
At the closing hour the situation was
quiet, all other banks having stood the
run. At each of tho suspended banks a
police officer is stationed TO prevent any
disorder. Small groups Of men are stand
ing on the streets discussing the situation.
but there Is no sign of any violence. All
the three banks which were closed to-day
are considered among the strongest in the
city and depositors appear to have no fear
of losing cent. 1t is probable that all
three banks will resume in few days.
On account OF 1t being the end of the
week most OF the banks paid out more
than was received. The Merchants Ma
tional, where the run occurred yesterday.
paid out. j. Lowenberg, president Of the
Merchants, yesterday hypothetical all
hi. real property in the city. and is said to
have secured 100000 in cash. This re.
stored confidence and many persons drew
their money from other banks and depos-
tied 1t there.
ID. p. Thompson was appointed receiver
of the Portland Savings Bank this after
noon. The statement Of this bank shows
resources estimated at So $50. 0oc. which is
considered a conservative estimate. Its
liabilities are placed at So, 4750O0
During the last sixty days there has been
a shrinkage of 100000. while $4,000 mas
been withdrawn from the Commercial Ma
tional during the same period.
The Commercial National paid on, $780,
600 yesterday.
A small bank at Forest Grove has closed
owing 10 the Commercial Nationals sus-
pension.
The statement of the Union Banking
Company. which closed yesterday. shows
assets Of sos, Oc0 with liabilities Of $4,000.
The city has claim for $4,000 and is the
principal creditor.
YOUNGSTOWN, Ohio, July 29-As a re-
suit OF malicious rumors q run was started
on the Dollar Savings and Trust Company
this morning. The bank required legal
notice. and not dollar was paid out. 1t
has wealthy stockholders. A number of
merchants withdrew large sums from other
banks and deposited with 1t, allayIng the
excitement.
KANKAKEE, H.. July 29.-The First
National Bank failed this morning. The
assets are sufficient to pay depostors in
full.
AKRON. Ohio. July 29.-The Citizens
Savings and Loan Association failed this
morning. 1t will pay In full. Capital,
100000; surplus, $4,000
NEW WHATCoM, Wash. July 29.-This
morning the following notice was posted
on the doors OF the Puget Sound Loan.
Trust and Bank Company: lowing to
the constant Withdrawals OF deposits and
inability to realize on securities this bank
has suspended temporarily" The bank
was Incorporated under the State laws In
1890. with CAPITAL stock Of $125,000. The
liabilities are $4,000 and the assets $780,
OOO
WASHINGTON. July 29.-Comptroller
Eckcls appointed Louis c. Phelps re-
ceiver Of the Merchants National Bank Of
Great Falls, Mont.
EAU CLAIRE, Wis. July 29.-Ths Com
mercial Bank, capital $4,000. was placed
In the hands of receiver to-day. Presl-
dent Allen said: I'VE calculate that the
depositors will not lose dollar" There
we're light runs on other banks.
BosToN. July ga special from Man
chester n TT save. Disclosures TODAY
tend to show that Cashier Morrell knew
the worst and ran away rather than face
the music
A director stated that in addition to the
$4,000 Of doubtful paper thrown out
OF the Derrvfeld Savings Bank, there is
from $4,000 to S18, coo due deposltors.
It is now thought the deficiency IN the
bank NAV go to 100000.
Rich Red Blood