St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-28
HELENA IN TROUBLE.
Two ofthe Largest Banks in Mon-
tana Consciousness Difficulties
of All Kinds.

Two ofthe Largest Banks in Mon-
tana C1ose-Business Difficulties
of All Kinds.
HELENA, Mont, July 27.-Financial
troubles reached Helena, Mont, today
and resulted in the closing of two of the
biggest banks in the State. They are
the First National and Montana Ma
tional. The First National is the pioneer
bank, of which S. t. Hauser is presi-
dent. Its directory includes some of
the wealthiest men in Montana. For
three weeks there has been a steady
drain on the banks, and on "Wednesday
after the days business was over there
was very little cash on hand. Last
night the directors met and unani-
m0usly decided that il was
the duty of the stockholders to suppCrt
Immediately a voluntary liquidation.
and that the bank temporarily suspend.
In cOnfOr nifty with this the bank did
not open this morning, and the follow
ing notice was posted on the door: 1--WE
are compelled to suspend business under
the Strlngency of the money market
and from the heavy drafts on deposits
without being able to make correspond
ing reduction of loans. Our assets are
ample. but we cannot command the cur
rency to continue payments" A state
ment up today shows assets of g. M
$50; liabilities, $3.50, 1852. The bank
mad capital OF 100000, and Its bus.
mess extended all over the Northwest.
John L. Murphy is president of the
Montana National. 1t was regarded as
strong as the First National, but was
not SO old. 1t had capital of 500, 600.
ana the statement shows assets of ST.
100000, liabilities 100000. The di-
rectorS desire voluntary liquidation,
and It's closing was due to the same
causes as forced the suspension of the
First National. When the banks opened
Main street was crowded with people.
the largest number being about the
Merchants National. There was a
steady run on this bank for three n ours.
but 1t came out all right, the Off
GERS saying they gained more cash
during the day. There was no run on
the other banks. President Edgerton,
or the second National, says he made a
slight gain in deposits. Cashier Baird.
of the Helena National, says there was
no run on that bank. as does Cashier
johnson, of the American National.
There was no run on either of the two
savings banks. The unanimous opinion
is that the people have gotten over the
doing business will be able to keep
open. Assignments today were the
IhomaS Pointer Drug company, S. G.
Ashby, A. Nj. Hotter and G. w. Cannon,
all personal. No mercantile failures
have been reported
MIDDLEsBORo. KY, July 27.-The
First National bank of this place closed
its doors this morning.
LoU1svILLE, KY, July 81. - The
Farmers Bank of Mt Sterling, KY,
suspended payment this morning.
CINCINNATI, July 81. - The Deer
Greek cotton mills at Fifth street and
Eggleston avenue, and betting factory
at Plum and Canal streets, controlled
by the Henry Pearce Sons company,
shut down indefinitely today, throwing
500 hands out Of employment. Dull
trade is the cause given.
PORTAGE, Wis, July 27.-The City
Bank of Portage closed its doors today.
1t was capitalized at $4,000. II. Breeze,
ex-secretary of state, was president Of
the bank. The directors of the bank
guaranteed all deposits.
PORTLAND, Or, July 21.-The Oregon
National bank and the Northwest Loan
and Trust company, of this city, sus-
pended this morning.
SPRINGFIELD, Mo-, July 27.--On &C
count of an increase in the price of coal,
caused by the miners strike, and de-
crease in the price of mineral, caused
by the financial Stringency, nine of the
largest lead mines at Aurora closed
down this morning 10 await develop
mentS.
OwEGo. n. Y, July 27.-The Cham
pion Wagon company, of OWegO. the
chief industry of this city, employing
over 100 men. has ordered a reduction
of 20 per cent in wages, to take effect
from last Monday. The officers said to-
day that they may shut down in
definitely any day on account of the bad
state of business. Collections are good,
but sales are bad.
ATTLEBoRO, Mass, July Glowing
to the extreme dullness in the jewelry
trade, due to the lack of orders from
large jobbIng houses in the West,
manufacturers in Plainville, North
Attleboro, Attleboro Falls and this
town have beee compelled to close their
shops. No less than 5000 persons will
be out of employment Tor four weeks or
over. This is serious outlook for the
two towns, a majority of whose Inhablt-
ants dedend on the jewelry shops tor a
livelihood.
WILMINGTON, Del, July pa re-
ceiver has been appointed for the Wal
mington Dental Manufacturing COM
pauy. me tupduy 10 peIleClIN SOlE-
ent. Its liabilities are about 100000
and assets SGl5,d00. There are branch
offices i'll Philadelphia, Chicago and
Washington.
PHILADELPHIA. July 27.-S. H. Nor
rison, an extensive lumber merchant,
today suspended business and asked for
an extension of time from his creditors.
His liabilities are said to be 100000.
CINCINNATI, o., July N.-The real
estate firm of Robert Leslie & Co. as
signed this afternoon to Joseph j. Har-
rIson. Assets estimated at Sl2O,OO0i
liabilities, s63,000.