The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-06
one OF welseDach's stores on bill OF


| sale.
T. 4. Armstrong & Co. dealers in uni
| forms, made n voluntary assignment this
morning; assets are stated TO be s275. 900;
| liabilities 10000 The firm for twenty
years has been manufacturer and dealer
in uniforms. rcgalia. society and church
| goods IN this city and Detroit The assign
mcnt was preclpitated by an attachment
suit flied IN the superior court by r.
Sawyer for 5000 for merchandise claim.
| In the absence Of the members Of the
firm Saturday evening the sheriff took
possession Of the store and held It till
this morning. when the attachment suit
was satisfied and a stipulation to that
effect iilcd In the superior court. The
news Of the filing Of the suit had gone
abroad. and attachments were threat
ened from all the creditors. TO avoid
that contingency and TO save themselves
and all their creditors they made a vol
untary assignment, which they expect
viii be temporary only.
A Savings Bank Assigns.
SANDUSKY. o., June 5.-The doors OF
the Sandusky Savings Bank. which closed
Saturday upon what was generally sup
posed TO be one OF the soundest and
safest institutions OF the city were not
opened this morning, but displayed the
following announcement:
owing to inability TO realize upon
assets al this time. this bank has been
compelled 20 assign. All depositors Will
be paid in fun"
The present trouble is ascrbed directly
20 the heavy, though groundless, run that
was made on the bank about ten weeks
ago. and which Il wlthstoOd successfully
at that time paying out 10000 within
two days. when the run ceased as sudden
ly as II had begun. This drain upon its
immediate available resources handl-
capped the bank seriously, although II
has been doing as much or more business
since the furry than before, such con
fdence did the people, especially the busi-
ness community. have I'm its stability.
Some heavy demands upon 81 during the
closing days Of last week. however, pre-
cipitated the crisis this time
Runs on Milwaukee Banks.
MILWAUKEg. June 5.-Ruas were
started to-day on the Second Wald
Bank and SOwhside Savings Bank. but
neither Of them assumed very serious
proportions.
The failure Of #. T. Day Plankington
Bank seems TO have increased the ner-
vOus fears Of small depOsitors. Business
mfn are not in the leat alarmed at the
situation. and predict that the furry Will
end I'm "a day or two unless it is aggra-
waited by more failures
This, however, did not allay the appre-
tensions Of those outside, and for n while
the crush was intensified. The bank
officials did not seem 20 be I'm the least
alarmed The officers and directors Of
the bank arc all wealthy Germans. Her
man Fesenthal is president and Jacob
Gross vice-prcsident IL has a capital
Of half a million dollars. It's table
report made TO the State auditor on May
10Th showed deposits Of $1,000. coo. The
appearance Of the crowd during the run
indicated that the depOsitors were largely
of small or limited means. Fully 20 per
cent. were women.
A run was also started on the Dime
Savings Bank at lOi Washington street,
this afternoon. This institution has de-
posits aggregating 100000 and among IT'S
directors are Colonel Robert G. Clowry,
Vice-president of the Western Union Tel |
egraph Company and ex-senator G.. B. |
Farwel. President Bailey Of the bank |
says he has "a dollar and a half for every |
dollar deposited, but the greater part of |
the money is tied up I'm securities. He |
does not know how long the bank can |
stand the run, but expects 10 pull through. |
The bank has a capital stock Of 100000 |
and a surplus Of $4,000.
There was a run on the Hibernian Bank.
one Of the largest saving institutions i'm
the country Depostors were paid off
az the rate Of three n minute The de-
poslts amount 10 sS,5OoOOO and the officers
Of the bank believe they can stand the
run.
A run on the Prairie State Savings Bank.
which started Saturday, was resumed
This morning. The officers are confident
hat they have ample means available
10 meet all demands from depositors.
The banks business Is practically con
lined to the west side.