Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1893-07-16
CONCERNING BUSINESS AND FINANCE.

Negaunee, Mich, announces that deputy
SherinS have attached the property OF the
Schlesinger syndicate mines at the instance
af the Chicago and Northwestern railway
and other creditors. Adolph Schleslnger-
one Of the brothers, who acts as the New
York attorney for the syndicate, was seen
at his Office to-day. He would not offer
any explanation of the failure to give the
liabilities md assets The general de-
preston is iron was greater than in other
lines Of business and the strain, ne said,
was harder to meet. Other local firms
representing the same trade granted read
ily the truth of this statement Mr.
Schlesinger knew that the syndicate had
reduced the output Of the mines TO % per
cent. of the usual amount, and he believed
now the mines would be shut down alto
gether at the least for time.
CLEVELAND, O., July IA special from
Negaunee, Mich, says: The Schlesinger
syndicate. supposed To represent millions
Of German capital, is in trouble. The con-
Germ was the largest single iron ore pro-
Queer in the world, mining nearly million
and half tons last year Property here,
at the Buffalo mines, has be attached at
the instance of the Northwestern Railroad
Company, with local creditors close sec
ond The syndicate also owes large sum
for labor 1t is impossible to obtain exact
information as yet.
MILWAUKEE,, Wis, July 15.-Ferdinapd
Sohlesinger was to-day shown the dis
patch announcing the fact that some of-his
iron properties, in the Menomiuee and Mar
quette ranges, had been attached by the
Northwestern road. He said that he could
not understand what was meant The
Schlesinger Syndicate" he said, sis a
debtor TO the Northwestern railway to the
extent Of perhaps of $4,000. That com
pany has moved our ore and OF course IN
this way freight bills have been run up.
Preparations had been made meet portion
of them, while time was TO be granted
on the remainder and | cannot see what
has induced the company TO take this ac-
ton. 1t is a complete surprise to me, as
had supposed that everything was all
right. This matter will be settled immedi-
ately and will not inconvenience our syn
dictate in the least.n
The attachment proceedings are accord
ing TO Mr.. Schleisinger against what IS
known as the Buffalo mine which is To-
Gated near Negaunee, which is the proper
~ of sysdicate.
The Schleisingers not only own and
control the Buffalo mine, but are Interested
In large amount of property in northern
Michigan, which is valued IN the aggregate
at many millions of dollars.
KANSAS CITY, Mo, July l5.-The North
rup Bank of Kansas City, Kansas, OF which
J. S. Chich of the National Bank OF Kan
sas City which failed yesterday was also
President closed its doors this morning,
Bank Examiner G.. w. Galbreath, took
charge of the suspended Kansas City this
morning There was quiet run on the
National Bank of Commerce as soon as that
concern opened for business this morning
In a statement made yesterday the
bank was shown 10 be in a good
condition and the officials assert they Will
DO able to stand long run, which however,
they think will not be necessary. The
statement shows cash on hand 81, l4l $50,
with deposits of s., 977, 371, showing more
than % per cent reserved required by law.
The capital is q, 900, 900. But little excite
ment prevails and it is thought the DanKs
will pull through all right.
The directors of the Bank or Commerce
held meeting to consider the financial sit
uation yesterday. After very csreIuiiy
examining into the condition OF the bank,
the members of the directorate signed an
agreement individually pledging their en-
tire estates for the security OF deposltors'
There was not q member OF the Board VINO
hestated to sign the paper that made nun
liable for the entire amouutof deposits held
bv the bank, so great was their confidence
in its stability. The directorate represents
a combined wealth Of 8, 100000.
The Northrup Banking Company volun-
tarily placed itself in charge OF State Com
missioner Breideuthal. The fact that j.
8 Chick. President of the National or
Kansas CITY, which suspended, is also
President of Northrup, caused a run on
the latter bank this morning. While the
condition of the bank seems 10 DE eXcep-
tiorally good, the officers OF the oank ala
not care to ieopardze their assets by meet
ing the run, and at ten O'CLOCK cIosed tns
bank doors. The bank has capital OF
500. 600 with a surplus of 100000 1t is
believed the depositors will ultimately De
uaid in full. The Northrup bank is not
the only one in this city suffering from tne
feeling of uneasiness resulting from the
failure Yesterday of the National Bank OF
Kansas City. In fact, when banking
houses opened this morning, there were
crowds of greater or less proportions
around the national banks.
ST.. LOUIS, Mo-, July 6.-The stockhold-
ars OF six building and loan associations,
each capitalized AT $500 600, are wondering
today where they are at. The associations
are the Western Union Nos. /, :, 8, =, .
and 8. Yesterday j. Bogard, Secretary OF
all the associations, and also one Oh tue
largest real estate dealers in the clty, gave
warranty deeds OF all his property 10 JONI
H. Vette, money lender, whose rates esq o.
interest are considered too high lot orul-
nary business men to touch. For what
Durpose the deeds were given could not
readily be learned. The stockholders OF
the six associations learned OF the transac-
tiou. and this morning alarmed for their
own interests. swarmed 10 Bogard'S ONCE,
and took bossession Of his books An SX-
animation was at once commenced, Out IL
will take a long time TO uuravel them IN
their complicated condition. Ia the mean
time Bogard could not be found, and
therefore, no explanation OF his sIGe OF 'ne
situation cOnld be obtained. bogaru Is
under bond of $4,000 to the building ana
loan associations 10 secure them
New York. July l5.-Emii A6ies, manu-
featuring currier, made an assignment To-
dav 10 George Fragner WlthouV prefer
enccs.
C1Nc1SNATI. O., July 15.-The Kaufman
Brewing Company has assigned. 1ne
company claim the assets amount 70 soOO.-
600 and the liabilities to Sl5O,OOO; Attor-
new Frank Shreffer and Brewery Manager
Enice ( chmitt were appoineed receivers.
An efor; viii be made to AFFECT settle
ment.
NKw York. July la. y. Slenet,
president If Aae Garfield National Bank.
is dead Few Men were better known IN
financial circles, than ne.
w.su,xerox IA c., July 5.--Ysster-
lav,s aS offers Of slvA were act made public
either as to the a9 gnerea Or price, ..
This mora ounces usesa s Of Sssssr.
,Lhe NJ