The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1893-05-13
A SERIES OF BANK FAILURES.
Many Small Concerns Forced
to Close Doors.
The Columbia National Responsible
for Most of Them.
Numerous Suspensions in Indiana. Michi.
gan and Neighborine States Com
merelAl and Manufacturing
Fiyms Fail.
By the Associated Press.


By the Associated Press.
INDIANAPOLIS, May 1.-THE directorl
Of the Capital National bank of thil
city, which suspended yesterday, today
state that the suspension cannot result
in the loss OF dollar to single depos.
itor.
The Commercial bank OF Brookston
has failed. No statement OF assets OF
liabilities is made. 1t was controlled
by the Columbia bank Of Chicago.
The Bank Of Greenwood, Ind, has
closed it's doors on account of the failure
Of the Columbia bank of Chicago.
KoKoMo, Ind, May 12.-The Com
mercial state bank OF Ruesiaville and
the Farmers bank at Greentown, both
under one management, failed this
morning for 100000. The failure Of the
! Columbia bank of Chicago is responsible
for the collapse. About 20 other banks
in Indiana are connected to some extent
with the Columbia bank, and like
number OF private banks, mostly small
concerns.
LAFAYETTE, Ind, May 12.--The Com
mercial bank at Brookstown, 10 miles
north OF this city, has closed lite deere.
lt5 deposlts amount to about $50 600.
The officers say 1t will pay In full and
resume business aH soon as affairs can be-
Strengthened out.
PORTLAND, Ind, May ia deputy
sheriff left here this morning upon re.
| ceipt of news Of the Dunkirk failure,
with writ OF attachment. He found
that the total assets amounted to $4,000
in money and few notes. The liabili-
ties will overrun $7T zoo. A meeting of
creditors was held today but no definite
action was taken.
GENEVA, Ind, May 1.-THE Farmers
and Merchants band suspended today
at noon. 1t 10 connected with the Co
lumbia National Of Chicago.
MICHIGAN BANK FAILURES.
EDwARDsBUKe, Mich, May 1.-THE
Citizens bank displayed notice on the
door this morning as follows: "Out OF
town ON business; back at noon"
Dwigglns, Starbuck & Go. of Chicago
hold large share of stock In the Citi-
zens' bank. Citizens of this place are
interested to the extent Of $25, 600. The
township and school funds are also tied
up.
The manager Of the local bank at Law
ton, Mich, has left town. The bank is
closed. Its liabilities are small.
CHARLzvoux, Mich, May 12.--The
bank 81 Charlevoux closed its doors this
morning and placed its affairs in the
hands OF an assignee. The Northern
Michigan Seed company, for which the
bank furnished financial backing, ia in
cluded In the assignment. No other
failures will result. The deposits will
probably not exceed $4,000, and it is
believed every depositor will be paid in
full.
HrLLsDALB, Mich, May 12.-The First
htdiuiidsffdh s6d qthir pGAHJbas saRs. iass
business Is transferred to the Hilldale
Savings bank, which will assume all liza
bilities and pay the depcsitors in full.
ROCKFORD. Mich, May l2.-rhe pri-
vate banking institution OF Paris q
Nave closed doors this morning.
Nothing Is to be learned, except that
the bank was affected by the failure OF
the Indianapolis bank.
Union Bank OF Richland, this county,
did not open it's doors today, owing to
its connection with the Columbia Ma
tional bank OF Chicago. The cashier
expects to raise sufficient cash to enable
him to open the doors tomorrow morn
ing and pay all claims. Dwiggins, Star
buck & Go. of Chicago also owned the
Lawton bank, which is now in the hands
Of the sheriff.
AN IOWA BANK CLOSES.
MADISON, Iowa, May 12.-The Bank Of
Oregon, established about year ago by
d virgins, Starbuck & Co., made an as
signment today. The closing of the
bank is due to the collapse OF the
Columbian National bank OF Chicago.
| The assets are figured at $685. 900 and
liabilities at 900, of which $25, 900 is
due depositors, who are nearly all bust
mesa men of the village OF Oregon.
OHIO BANK FAILURES.
CINCINNATI, May 12.--The private
bank OF Dwiggins, Starbuc& & Co., at
williamsburg, Ohio, closed its doors
this morning, on orders from Dwiggins,
president OF the Columbia bank OF Chi
cago. 1t was branch OF that bank. It's
asaets are 5000; liabilities, 500 900.
An expert accountant employed at the
bank yesterday came here, and early
this morning was arrested, charged with
embezzlemeDt. 1t is suspected that he
was employed to conceal some funds OF
the bank.
TOLEDO, O., May 12.-The Ottawa
County bank at Gilmore, o., closed it's
doors today as the result Of the failure
of the Columbia National bank of Chi
cago. The outlook Is that the depositorf
will be paid in full.
AN ILLINOIS BANK SUSPENDED.
J CASEY, Ill.,, May 1.-THE Columbi'
! National bank OF Chicago was the prin
} cipal stakeholder in the Farmers anC
Merchants bank OF this city. 1t made
: an assignment today. The assets ar
probably $4,000. The liabilities ar
uncertain so far, but it ia thought the
will reach 900 or over.