The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-19
and the people asked, where will this

and the people asked. where will this
stoD?"
run was Immediately started on all
! The other banks. thCt gh 10 no great eX-
tent upon the Peoples National. The
! National appears TO be the sOundest Of
all hey having ove~ ~ rer cent OF
their deposits on hand, with a private
fund Cf 81 so 600 I'm addition 10 draw
upon making Il impossible 10 close their
doors. Tho Colorado National and sev-
cral others are in equally 9s good cOndi
tion
The mob Withdrawing their money are
All small depositors, the large holders
being satisfied TO let the accounts remain
in the bank. The banks are paying all
demands. except on time certificates. they
demanding that these .emain until the
expiration Of time. As every bank IS
crowded. the clearing house Is rendering
no assistance. each institution being com
PEELED 10 stand upon its own foundation.
The Commercial National Bank closed
It's doors within a few minutes after the
opening, because Il was apparent from
the size OF the crowd in front Of the bank
that run was 10 be inaugurated A
notice was posted on the door: CLOSED
for liquidation by order OF the directors"
The bank was in bad shape. 1t had a
capital stock Of $4,000 and only had 5000
in cash In the bank.
The Mercantile Bank, a private insti-
tuition. with a capital stock Of 100000,
closed its doors at noon. The failure was
caused by the failure Of the Union Ma
tional Bank. through which IT cleared.
&. G. Girda. the city auditor, is presi-
dent w. r. Robinson, formerly trcasu-
rer Of the Republic Publishing Com
pany. one Of the oldest and most re-
spected individuals in the State. has been
made assignee
The News In Washington.
WASHINGTON. July B.-The news Of
the Denver Bank crash caused some sur
prise at the Comptrolers Office. for u
was believed there that the worst was
over. and that national banking matters
would soon resume their normal condi-
tiou.
The gold reserve took another down
ward tumble to-day, from s9S.O59 $50 yes
terday 10 $98672,S2. The currency bal
ance to-day was $26liS,1GO, against $2G,
ll19lS yesterday.
Other Failures.
FORT SCOTT. KAN, July fS.-The
First National Bank Of this city. the
oldest financial institution in Southeast
crn Kansas, has suspended payment
TOLEDO o.. July 1S-The Citizens
Bank Of Ada. the most prominent one in
Hardin county, failed 10 open It's doors
this morning Its owner Peter Z. Ahl-
field. has controlled II over a quarter Of
a century, and is one Of the wealthiest
men I'm that section
what Raleigh Citizens Think.
RALEIGH. y. c.. July 1S.-The cham
ber Of commerce Of Raleigh at a meet
ing held tonight adopted the following
resolutions.
Resolved. That in the opinion Of this
chamber, national banks should be
permitted 20 take out circulation on de-
posit Of good State bonds and on United
States bonds 10 their par value and the
five per cent redemption funds should be
abolished and the tax on their circula-
tion repealed.
Resolved further, That the tax on |
state bank notes should be repealed.
Resolved. further. That upon the adop- |
tion OF such legislation as will provide
adequate facilities for the increase Of
currency. we recommend a suspension |
OF the law authorizing the purchase Of
silver bullion until such time as an IN
ternatlonal or new ratio may be estab-
lished between gold and silver.
silver Coinage in India.
LONDON July lS-Iu the House Of
'ommons to-day. Gladstone, in replying
% questions asked upon the subject. de
lied that there was artificial restriction
II coinage of silver in India. The Aus
rian system. he said, was analogous 10
he new Indian system of coinage The
Iuantity of silver coined in India would
rot be regulated by the convenience Of
he Government, but by the wants Of the
ountry