The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-07-20
o the bank in person to draw their

to the bank in person to draw their
money.
The excitement and demand upon
banks for money continued unabated
until about 2 o'clock, when it almost
entirely subsidized at all banks except
the State Nationol and German Ma
tional, where a line of depositors
seemed to increase instead of dimin-
ish. This bank is understood to have
a special train on the way from Kan
sas City bearing $490,000, and will
reach here early tomorrow. The
First National bank received
$4,000 a little after
o'clock today, and $250,00O more at
the closing hour. This came from
New York. 1t was money due Presi-
dent Moffat for bullion he sold. At 8
o'clock, closing hour, there were hard
ly half dozen people in any of the
institutions except the above. ID. H.
Moffat, president of the First National,
stated that deposits at his house during
the day greatly exceeded Withdrawals
This bank has always been the most
conservatively managed and was al
most exclusively owned by Moffatt.
The general opinion among bankers
and business men is that the panic is
over and no more banks will be obliged
to close, although run in mild way
may continue against two or three
banks for a day or two. 1t is believed
by fnanciers that today's run will re-
suit in the people having more conf
dence in the strong banks, and money
Withdrawn today will at once be re-
deposited, and better feeling estab-
lished in financial circles, which
will make money easier. The sus
pended banks expect to resume busi-
ness in short time The con-
slant drain on banks by scared deposi-
tors brought about the crisis 1t is
stated by the bankers that no less than
$4,000, 900 had been drawn from the
banks during the last three months.
Of this $3,000000 have gone to the
East in regular line of business but
there are $5,000,O00 boarded in the
city. Safety deposit vaults are full!
and there is reason to suppose the
homes of lworkingmen contain secret
places in which their savings are hid
den. If one fifth of that amount was
let into circulation the stringency in
| denver would cease.
| ANOTHER DENVER BANK.
The Mercantile bank, private in
stitution with capital stock of $780,
600, closed it's doors at noon. The fall
ure was caused by the failure of the
Union National bank through which it
cleared
DRY GOODS COMPANY FAILED.
The McFamara Dry Goods company
one of the largest institutions of
the kind in the city failed
this morning. Liabilities, $27O, 900.
Assets not known. The failure was
brought on by attachment served on
the. house at o'clock this morning by
the Union National bank which failed
to open its doors this morning, for
$71, 780, and the Colorado National for
$50, ,S47.74 The president of the latter
bank had a private claim for $25, 900,
and d. Sheedy, an officer in the Dem
yer National, one for SAC, 0,000 The
failure was not unexpected, but it had
been hoped money would be easier
and the firm be able to pull through.
Stringency in the money market and
inability to place securities or secure
extension from the banks, aided by
the closing of three savings banks yes
terday was the direct cause. Had the
banks which closed yesterday been
able to secure cash with which to
carry it over the hard spots" the fail
ure would not have occurred. Nearly
the entire amount falls on the Denver
banks and commercial houses.
THREE MORE FIRMS.
Hyman & Cohn proprieters of the
Bee Hive shoe store, McWhirter &
Diprs. dealers in mantles and tiles,
and Engle & Harris, dry goods, have
assigned. No statements available
but amounts not large.
FORT SCOTT BANK
FORT SCOTT, Kas., July 19.-The
First National bank of this city failed
to open for business this morning,
owing to steady withdrawal of de,
posits and inability to collect assets.
Assets are more than three times LA
bilities. and depositors will lose moth
ing. The First National was estab-
lished in 1871 and was the Oldest and
largest national bank in Southeastern
Kansas. 1t had a capital stock of
$500, 000 A run on the Peoples Saw
ings bank was started but the 80 day
law was taken advantage of and the
bank thus saved from being swamped.
THREE KANSAS BANKS.
TOPEKA. July Estate Bank Ex-
aminer Breidenthal this morning Ie-
ceived notice of the failure Of the
Citizens Bank of Kansas City, Kans., =,
of the Bank of Richmond and of the
Farmers and Merch ints' bank of Os-
sawatomie. The concerns all did small
business. Statements unobtainable.
BANK OF ANACoRTEs.
ANAcoRTEs, Wash, July 18.-The
Bank of Anacortes failed to open to-
day. Liabilities are $29, 900, assets
$78,09O.
Rumor Not Credited.