The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-13
MORB FAILURES.
Concerted Action by Numerous Banking
1nststusions.

NASHVILLE, TENN. August 12-The
Peoples Bank, at LewIsbarg, failed TO
open its doors this morning. The sus-
pension is due to the suspension OF the
First National and American National
Banks, Of Nashville. constant drain
by deposlturs and the failure 70 collect
money. The president and cashier state
that the bank Is in first-ciass condition.
and they are conGJeut Il VIII be able TO
resume in a few days. or as soon as a
meeting OF the stockholders and deposit
tors can be held. There is no excite
ment at Lewisburg "a account OF the
suspension.
BROOKLYN. y. Z. August f2.-The
Commercial Bank, Of Brooklyn. a State
institution, failed 20 open its doors this
morning. The following notice was
posted ON The door: This bank Is COM
PEELED TO close temporarily. (SigneD J. j..
VAIL cashier.
GADSDEN. ALA. August 12.-The
First National Pank suspended payment
this morniny with capital stock Of
$4,000 and deposits 81 $1,000. The di-
rectors assure the dcpcsit0rs that they
viii be paid in full.
LANCASTER, Pa, August 1.-THE
following notice wes prsted on the doors
Of the bank OF T. X. Smith, at Columbia.
this morning: CLOSED Tor the present TO
Hquidate." The bank Is a small one.
NASHVILLE, TENN, August 12-The
run on the Fourth National Bank was re-
sumed this morning. when that institution
opened its doors, but by noon IL was
practically over, as there were less than
a dozen men standing al paying tellers
desk. The deposits Oy substantial busi-
ness men were quite 3s large as the
amount drawn out by others. There is
no uneasiness now, and the crisis is evi-
dently over. The Peoples Bank and the
Bank OF Lebanon, two State institutions
at Lebanon. have adopted a rule to pay
only per cent. Of deposits, and give GER
titled checks for balances.
NEW YORK. August l2.-The weekly
statement OF the associated banks sh lws
the following changes;
Reserve, decrease. ..................2,52 52l ,5I5
Loans, increase e-...-.>.>..,,,.,...... S,0lt 20
Specie. deer ase........---........... 2,5t3,D0O
Legal tenders, decrease ............ 40S. 900
Deposits, aecrease. se..-............." 1A,I0
Circulation, increase. .........".... 733, 100
The banks are now fls545.375 below the
requirements Of the = per cent. rule.
STAUNTON, VA, August l2.-Speclal.-
The following resolutions were adopted
concurred in by the other banks OF the
city, and IS fully indorsed by our entire
community:
Whereas the banks OF the principal
cities OF the country and this state. I'm
order 10 protect themselves against a de-
pletion of currency. have declined TO fur
nish currency against balances due by
thcm. and
Whereas It is deemed advisable for the
banks Of this city. In their endeavor 70
protect not only their own interests, but
those Of their depositors and the whole
business community, to adopt similar
means Of precaution, and thus enable the
banks 10 be Of service TO their customers
and the public, being similar action TO
that taken by the banks OF this city and
State I'm 1873 by which no depostor was
inconveniencod: therefore. be it
Resolved. That during the present mon
etary depression this bank pay checks
drawn against existing balances 70
an amount not exceeding fifty G5D)
dollars I'm currency. a. .ho discretion OF
the bark. but s'a' Oh Fgesci alton Of
checks we certify the same as good.
payable through the daily exchange made
between the banks OF this city. and be
It further
Resolved, That checks against deposits
made by currency after this date be
paid in currency at the counter Of this
bank. or through the exchange between
banks at the option Of the depositor.
This resolution will take effect from
and on this date. Our banks are solvent
and conservative, and the action taken
is 10 protect our community and business
on the same lines as I'm other cities.
There will be no trouble here.
GREENYILLE. MISS, August 12-The
three banks here at 10 a. NJ. to-day
posted notices on their doors that no
money would be paid out on checks
but that certified checks would be issued
instead At a meeting Of cilzens held al
the Cotton Exchange this afternoon reso-
lutions were adopted approving the ac-
tion OF the banks.
MONTGOMERY, ALA, August 12.-
Josiah Morris & Co.. the leading private
banking house Of the State, made an
assignment late this evening. 1t is due
To the continued withdrawal of deposits
during the last sixty days and large
drafts being made to-day. This act has
caused a meeting OF the other bank Of
hcors tonight. and they resolved. COM
mencing Monday morning, upon the clear
ing house system. They have not yet
announced what percentage they Will
pay. This will be made known Monday
morning. In their card I'm the Adyer-
tiser tomorrow the bankers state that
the assets Of Morris & Co. Will easily
realize largely more than the liabilities.
This is the general belief OF those who
are acquainted with the situation.