Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-07-19
BUSINESS.

alAtA ~ flVthf Wufu AHt haHh7 Ntif
supposed to open their doors for business
The failure OF ;lrse savings bank.
yesterday excited the masses and at the
hour Of opening the streets were crowded
with anxious depositors. The eleven
clearinghouse banks, located within
four blocks Of each other, were sur.
ronnde1. and far into the streets a
crowd had gathered, until officers and
special police were called out to clear
tho was for traffic.
At 10 O'clock the Union National. with
a capital Of 100000. posted a notice
they would not open their doors. This
started a panic. and following quickly.
the Commercial National posted 4 sim
nar notice, and then the National Bank
Of Commerce.
A run Immediately started on all The
other banks. though to no CREST extent
upon the Peoples National.
The First National appears 10 be the
soundest Of all. they having over ~ per
cent Of their deposits on hand. with a
private fund Of S1.50O.OOO in addition
% draw upon. making II impossible 10
close their doors. The Colorado National
and several others are in equally good
coaditi0u.
The people Withdrawing their money
NfNf III 1ntNAA NfNNrAANNNs NV AANEf ANlN-
ers being satisfied TO let their accounts
remain In the banks. The banks are
paying all demands except on time Ger
tihcates. they demanding that these re-
main until the expiration Of the time
President j. A.-Thatcher Of the clear
ing-house association said Il an con
hdeut today vii see the worst OF this
and the people will some 10 their senses
Al a meeting Of the clearinghouse last
night we decided We could not help the
hanks and ~ some Of them have gone
10 the wall. AL Of them. ! believe. have
ample security 10 protect all deposit9rs.
but unfortunately nt this tune. cash. ard
not security is what the majority Of
people arr clamohng for"
A. the State National bank. % which
J.. II. Mcneil j. president. quite a run j.
~ progress. The officers Of the bnnk nre
81 ih@ best Of humnr and say they feel
confident they can weather the storm.
Everything is quiet az the Colorado
National
mi. hank closed by order Of the
board ~ directors" Is the notice posted
Of every eniraure 10 the National Bank ~
Commerce Of which Ex-Governor j. A
Cooper IS president. The condition Of
this bank !. not known.
John H. Hanna of the City National
hank sail they felt themselves 10 D..
IA as sool condition ns oHy body. This
bank H. paying 10 gold. Sev-ml " The
principal lrpositors made large deposits
this morning and the friends Of the
bank are putting IN such sums ~ they
have 40 hand and can snare. Those
making rims on the bank are those who
have small a%r-Ounts. The banks la
liliiie- "a drpnsit0rs Whose funds ARE
subject ~ rh@'E are SJSn.St<O1. and ~
this The bank officials Uontrll nearly
fv sthiris. 80 the cash on hand. and
that which j. % be- had Immediately
w....Hu.~ e. LWHNm ms - aaTHH Mt IL.
demands ~ suall dep0sitors.
The Union National bank closed 81
drurs THE morning und q notice was
posted explaining the bank had paid ont
approximately SflpppOOD TO dcpo-itors in
The last iaW weeks The notice further
stated tbe bank bad realized on is se-
cufnes as rafHdly A. possible. but u
was not fast enough TO suif ~dri,ositOrs.
J. has Sl.tttt,Un 800 securities and owes
approximately SIMON. II is thought
the hank viii BE- ABIDE to realize uuHn It's
securities. when all depOsitors will be
paid 10 full. The bank expects to open
again for business a. soon ns Il can
realize. The Uniou banks rpsources con
sist u loans aud discounts amounting TO
S1.6s2GSSs5 United States bonds to
secure circulation. Si5p.n00: cash nry
exchange. Si4I -JfI.S2. nml rssleN ntinu
fund due fnum the United Siates treas
urer Of $3.50. II has oyerdrafts se-
30" H-HH NHH". aH|"H ANNNENNNNNNNA ~ I.N=n
O1I.12 Liabilities 10 depp-iiors amount
10 SI3.55h25. There T. Sii 0g7 81 due
other national hanks. and 2O.SOSG5 In
state banks, aud the bank has paper ont.
sfTulin~ fnr Sl7nfsEl
President Woodbury. u Of the opfnion
The bank will REOPEN and continue bus
mess as before. II j. one Of the oldest
banks 10 Beaver. and has always been
regarded ne solid. The failure Of tho
Chamherlin Investment company a few
days neo. Affected tho Union National
bank considerably. The company Is ln.
dchi,si 10 the hauk Ia the neiehborhond
OF $1,000, VII % weakened the bank
IN the estimation NJ those who knew the
relationship.
The Commercial National hank clos
ed rs doors This morning within a few
minutes alter opening, ~ u became APP
parent from the siEe NJ the crowd IN
front OF the bank, that n run would b..
i~nnururtrd. The notice posted On tho
door was: "Closrd Tor liquilafinn by or-
der Of he board II directors. 'rhe hank
Is IN lad shalN. 1t has a capital stock
Of S2J0.0pO and Gully had 5000 ia The
Small dcposiiGrs rushed TO the Amed.
can National bank this mprniug and No
gan 10 draw OUT their deposits. The
American National bank has less small
dcpositors than any other Of It's cnpi.
tal t~Sl!u0O.uOpi Ia the city, as ia deal.
lnEs have hecii largely with mon who
hnndlctl big sums, The yic,-presidrnt on
the hank said those who were lrnwinr
their muney wrrc those who usually
paid their grocnrs aud butchers with
checks which camc 10 the bank through
The clearing house. The lnpnsitors had To-
~ q" tie bank In person to draw their
money.
SMALL FAILURES
Hyman ~ Coin, prnprlet0rs Of the Bee
Hive shoe sionr: McNhirtrr & Dipps.
dealers W manllcs and tiles, and Enrip
4 Harris. dfy goods. have assigned. M
large.
a PRIVATE BANK.
The Mercantile bank. q private mai.
tuition. with a capital stock Of SlO0p0n.
closed us doors AZ noon, The future
was caused by the failure of the Union
National bank, through which II cleared.
\ BIG DRY GOODS HOUSE.
The Mcnamara Dry Goods company
oue OF the largest institutions of thc Kind
IN the cliy, failed this morning. Liabili'
tics. S@ViAshi; assets unknown. Thn
failure was brought on hy mn attachment
served on The house NJ l o'clorL tbis
morning by the Union National h,nk
which failed to npon its tibnrs this motn'
Ing, for Sdi,ISn. aud tho Colorado IN.
flonnl for SanSlT.TA The president Of
the latter bank had private claims for
<25.ooI. and u. ShecJy, an onirer h,
the Denver National. oiie for SlOOOO
The failure was not unexpected, but II
had been hoped money would b. easier
and The firm would be aide to NM