The Superior times. [volume] (Superior, Wis.) 1870-1912, 1893-07-29

The Oldest Bank in the West SuCCumbS to
the General Financial Depression.

MILWAUKEE, July 23.-The Wisconsin
Marine and Fire Insurance Company
Bank has closed It's doors.
The bank opened at 10 O'Clock this
morning, as it had done on every bu9i-
ness day for more than half century
but it remained open only few min
utes and then the doors were boltC,
and a notice of suspension WAS posted
4 little while later, upon petition oi
Benz NJ. We'll, the bank consenting,
Judge Johnson, of the circuit court, ap-
pointed Washington Becker receiver
and fixed his bond at 81 600, 900.
The suit of Benz. NJ. We'll, which re-
suited in the appointment of receiver,
was begun after the bank had closed
its doors. The suit is an amicahlc
one and was begun because some lc-
gal steps were necessary in order TO
have the bank formally 90 into liquida-
ton and to protect the interests of all
depositors.
CASHIER MURPHY MAKES \ STATEMENT.
Cashier Murphy made the following
statement: ''We have not much to say
about the matter at the present time and
in fact there is not much to be said. We
have been subjected to a constant drain
for some time and had realized on about
every asset on which the bank could get
money on short notice. We felt that
under the existing conditions it
was only question of time before stls-
pension must inevitably come and
therefore decided to close. We might
possibly have got through to-day all
right. but it was considered best for all
concerned not to open for business
This bank is not insolvent by any means
and only time is needed 10 realize
enough to meet every liability. 1t not
only has ample assets, but Mr.. Mitchell
and Mr.. Johnston are behind it."
Washington Becker, of the Wisconsin
Marine and Fire Insurance Company
Bank, said: Il have every reason to
hope that our depostors will receive
their money In reasonably short time.
| can't say how soon, of course, but |
hope it will be tan early day
CITY HAS 81 .630. 400 OK DEPoSIr
The city of Milwaukee, had 81 $50, ,Oro
i'll the Wisconsin Marine and Fire Iusur-
ancc Company Bank. As it has only
about s. 900 in the office it will Eopr be
forced to suspend payment.
The city's deposit in Mitchell s Bank
is protected by bond for 81 500, 900
The sureties on the bond are John l..
Mitchell, John Johnston and David
Ferguson
Robert Eliot 4 Co. and the Friend
Bros Clothing Company gave notice
that outstanding checks drawn by them
on the Wisconsin Marine and Fire
should be presented at the Central Ma
tinnal Bank.
Checks of the Daisy Roller Mills, o
Milwaukee. will he paid at the National
Exchange Bank and checks of the Daisy
Mills of Superior will be paid at the
Wisconsin National Bank.
Cashier Bigcow announces that the
First National will pay all checks Of T..
P. Bacon & Co., L. 4. Chapman Com
panv and the Northwestern National
Insurance Company.
The checks of the Badger Illuminat-
ing Company, the Edison Illuminating
Company and Owen Bros will also be
paid at the First National.
Checks drawn by the following firms
are to be presented at Marshall q Ill
slev's Bank fer payment Bradley x
Metcalf Company, II. IT, West & Co.,
n, Fisbeck & Son, 4. +. Gallun d Son,
Inbusch Bros, George {. Cribh,
{. II shores 4 Co, Osseo, Viz. ;
y N IA
to, N-ic tIav KebInr NouteIlo WI +.
RanL of Soldiers Grove VIZ /, II
pIott troasuror Of NIanitovo,,. Plum
Nelson & Co, ManitowoC, Wis: Parker
Hildchrand q Co., RoscohcI. on Milwau-
kee National; Davis Bros. Manufacture
ing Company, on South Side Savings
Bank.
theck5 "l tte leIlaIileu con- n
/ P7hi'H, IfiiS an" iil'i i'itiai9 WI ps
/ pald AZ tlG 'sc"hSih ->alio'ldl h4iIh .
~ faul I"tti"1H Nop' PUN Iu,''
! Bros, L. II. NhahIhah " o. +. h'''o"-
/ iTey sons ,ohl panN, me McIIlii eS't'e'
/ the Moore Manufacturing I 'o'hpSiy, \.
/ Melnocke * cons, the MelhtCke 10y
! company, II. ;. MACK o., Mcnqel,
+ Smlth q %, F. r. an norman, II :.
J ogden, Lindsay BROS ana 'he jacob
/ NGTaWctZ estate. r,..l
4 ne -Natl"hal EA'h3nE nd ~ w Pdt
ne rhecAs Oh llle i''ioM ille i",'el H
/ Lil"t " 20, fieHh hfoe, ioli'iii@
/ S@mPahy' lai7\ h''ier mn 'ie
iahhlhioh ,Ii' Il1uiSe' t9l%'t VI 'ohh
+ ! lalNllIni'' " 'l''a',l i"'N'h toH.
The Wisconsin Marine ana flre IN
s+,to bank in iS53 with Z Capital q
. 60 ,,,,, II . ,,,,.,,,i,,,5 Do,-i,
s""'""' tue H'SitH, Pvl M 90 "" 60 -
+. cfGNSon entered the bdlih III iN1v dii,
of Nexander Mitchell in 1887 he be
VI ~ iI = ~, I,,,I- - oocI
of them, and the management ct thf
hank has been in their charge since
One-third was beGueathed to his son
~ u = 80" -