The times. [volume] (Richmond, Va.) 1890-1903, 1893-05-12
HARDTIMES COME AGAIN
TOO LIME MONEY CAUSES sET-
ERAL BANK FdTLUREs.
The Capital Of Indianapolis and the Colum.
bia OF Chicago suspend-faiiure
Also at Wilmington.

INDIANAPOLIs. IND, May 1.-THE
Capital National Bank Of this city. has
suspended. The statement is made that
the closing OF the banks doors was
made necessary by the failure Of The
Chemical National Bank Of Chicago last
week. which institution owed the Capt.
tai 100000. The bank also carried large
amount Of Premier Steel Works paper.
The latter concern was placed in tie
hands Of a receiver on Friday last.
The bank opened. as usual. at o'clock
but It was simply opened. pending an
attempt 20 meet run on n from de-
pOsitors, with assistance Of other banks
The Capital was not a member ct the
Clearing House Association and has been
AT war with IT, When the other banks
were asked for assistance. they met ard
declined to render any. The doors
Of the Capital were then at once closed
Ly order Of the directors. The first oub-
lie inhmation Of the failure was the
placard pasted on the window. and the
excitement for n time was intense. A
number Of people withdrew their de-
pCsits from other banks. The Bank OF
Commerce had quite a run. II is con-
troled by the Depaus. who were the
controllers OF the Premier steel Works
now i'm the hands Of a receiver. some
of the paper Of the Steel Company was
held by the Capital Bank. Tho Bank Of
Commerce was prepared for all emergen-
cies and confidence was soon restored
Tho actual liabilities Of the Capital are
about si.O5O.C0O The paid up capital
stock Is 10000. and the assets are esti-
mated at S250OOo. ". y. Wilson was
president. and Charles Il. Doherty cash
Ter
The failure may endanger the solvency
Of banks at Vincennes. Sullivan and Gas
city. i'm which Wilson. Doherty and 9TH
ers are large stockholders. and between
which and the Capital intimate relations
existed. The Comptroller of the Currency
has telegraphed that a special agent is
on his way TO take charge of the bank.
II IS believed that the Capital Will pay
100 cents on the dollar.
Wilmington Bankers suspend.
WILMINGTON. DEL. May II The an
noUrCement Of the failure OF r. X. Rob
insOn & Co, bankers and brokers or
this city. to-day created a profound SEN
sation Rumors of the failure Of this
wer-known firm have been on the street
for several days. and business circles
have been excited. The liabilities Of the
firm are estimated at 100000 while the
assets do not exceed 100000 The
sheriff has seized all the property of the
bankrupt firm.
Another Chicago Bank Fails.
CHICAGO ILL, May 1.-THE Colum-
bia National Bank Of this city has failed
In a report Of the banks condition,
made by it's officers at the close of bust
ness May 4th, the deposits were stated
to be nearly one and a half million dol
lars The CAPITAL stock OF the tanh is
81 100000.
The failure was due 10 unprecedented
Withdrawals Of deposits during the past
two weeks. amounting TO nearly half
million dollars Yesterday a demand for
10000 was made by a customer. The
demand was met. but IT so impaired the
condition OF the bank that Il was decided
to seek the aid OF other institutions to-
day. This was done this morning. but
rival banks were not inclined 20 give
temporary aid tin an examination Of the
banks affairs had been made. At II
O'Clock il was decided 10 announce the
failure Of the institution. and notice TO
that effect was posted on its doors.
Insignincant London Failure.
LONDON. May 11.-Hallett & Company.
navy agents and bankers. have suspended.
The suspension has caused a sensation
i'm military and naval circles at the West
End, as many officers are depOstOrs with
the company. but commercially the fail
ure is OF slight Importance. The members
Of the firm are James Alfred Hallett
William Charles Hallett and Milford Hal
lett, and their place Of business Is Z
st. Martins Place. w. c.