The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-15
Failure of the Kansas CITY
National.
WAITE IS DIsCREDITED.
A Denver Banker Passes Some Severe
Structures on the Silver Alarm
lists of Colorado.
Special to THE MORNING CALL.

KANSAS CITY. July 1.-THE National
Bank of Kansas City suspended payment
this afternoon and is now in the hands Of
the Comptroller of the Currency. The
assets, according to President Chick, are
between 100000 and S3.OOO.OOo. while
the liabilities are between 100000 and
S1.00O.000.
Chick is confident the depositors will be
paid dollar for dollar. He said the sus-
pension was due to the steady withdrawal
of deposits since the beginning of the
financial stringency.
1--WE began TO lose deposits early in
May" he said. 1.-THE demands on us went
along quietly but steadily until the failure
of the savings bank last Tuesday. and
every day since then the Withdrawals of
deposits have been heavier. We thought
we could get through to-day. but we were
forced to Quit just five minutes before the
usual time. Last night we asked the
clearinghouse to help us. and that fact
was telegraphed to our creditors and de-
positors out OF town and caused the run to
be heavier. We asked for ample aid from
the clearinghouse, and this morning we
received $50. OOO Orders for currency came
in so heavily. however. that we could not
possibly fill them"
The National Bank of Kansas City had
capital STOCK of 100000. The last
statement made Oh May showed sur
plus fund of $500. 900 and undivided profits
of $24. $50. 1t has outstanding loans of
about $35OO.OO0.
Four of the other National Banks in the
city publish tonight reports of their con-
dition at the close OF business July IA. and
all of them being exceptionally favorable.
they ars expected to allay in great meas
urs the uneasDess caused by days fail
ure.
AS a result of the failure of the National
Bank the Franklin Savings Bank this
evening made an assignment for the
benefit of creditors. The latter bank
cleared through the Kansas City National.
and considerable Of its money is tied up in
the latter's failure. The bank carried a
line Of deposits amounting now to only
$4,000. The assets are considerably in
excess of that sum.
DENVER, July 14-This afternoon w.
FL. Rush and N. NJ. Tabor, lessees of the
Brown Palace Hotel, made an assignment.
Their liabilities are placed at S650,O0 and
the assets at So, 900. 600. The assets con-
sist principally Of real estate, hotel furni-
ture and bills due. The failure includes
The furniture of the Hotel Metropole. the
Tabor-Pierce Lumber Company and $751;
900 OF the stock Of the Windsor Farm Com
pany. held by Mr.. Bush. 1t is believed the
assets will be materially decreased before
liquidation is effected. The failure will in
no way affect the Brown Palace building,
which will not be closed.
MEADvILLE. Tenn, July 14.-S. r..
Dick OF the banking firm of j. r. Dick 6,
Co. committed suicide this morning. A
heavy run on the bank yesterday is the
cause. Dick had been in i'll health some
time. A meeting of friends of the firm
was held to-day. The situation was thor
oughIy canvassed. and it was given out
after the conference that the bank was
solvent and abUndantiy able to pay all
depositors.
PLYMOUTH, July 14.-Buck & Towne,
bankers and hardware men. have failed.
They promise to pay in full.
CHICAGO. July IA Record special
from Ishpeming. Mich. says: 1T is
learned at midnight that the Schlesinger
syndicate, the largest operators in ore in
the world, have failed, with millions of
liabilities. 1t is not possible to get any
details tonight. but it is rumored that
there will be developments that will cause