The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-27

The Rest OF the Louisville Banks Can
Weather the storm Other Failures.
LOUISVILLE. ky. July 26-The fnan-
clal situation IS percepubly easier to-
dav Yesterdays Storm which closed
three banks. has relieved the surcharged
atmosphere in money circles and the
worst is believed 90 be over Those banks
which have stood the drain until now are
iu little danger Of going down, as the
greatest pressure has passed off, The
country banks, which caused all OF the
trouble. have done all the harm that lies
in their power. The local situation has
never been at an serious. a number Of
the smaller dep0sitOrs. IL Is true, have
taken alarm and Withdrawn their de-
p0sits from some Of the banks. but the
drain from this source has not been
sufficient 10 cause any embarrassment.
Most Of the banks received big bundles
of cash this morning from outside places.
One bank, which was the subject Of
rlmor, raised $4,000 I'm cash, which placed
30 on a solid basis.
President of a Failed Bank Arrested.
DENVER. COL. July 26.-President NJ
j. Lawru,e. 0f the Peoples Savings
Bank. was arrested at his Office this af-
ternoon ON a warrant charging grand lar
ceuy in correction with the failure of the
bank. The warrant was sworn To by W.
d. Casey. in behalf Of his wife, Sophie
Casey who is depositor In the bank
90 the amount of $3.50 Tho same war
rant upon which President Lawrence was
arrested also called for the arrest of
Cashier r. O.. schrader upon the same
charge. and he too. was arrested. The
charges upon which the proceedings are
brought is that the bank received a de-
p0sit from Mr Casey within thirty days
previous t0 the failure. This is alleged
to he a violation of the State law, and
held boy that law 90 Doe prima focie evi-
druce that the officials OF the bank knew
that the bank was insoiVent This. under
the .aw. makes the officials liable to pros
,cation for erand larceny Mrs. Casey
made q deposit on June 2lst The bank
closed its doors July 18th. its last business
day helne Saturday July 18th. prcsi-
dent Lavregce declares that no official
aet of the officers ot the bank can reflect
upon their honor or good faith ana that
De has no fears of developments.
EX-nank President Arrested.
CINCINNATI. 90. July 26-Clarence
81. Oyerman. late president and a direc-
tor of the Citizens National Bank Of
Hushor0 Ohio was arrested by the
United States marshal to-day az Hills
hr1 on q Warrant sworn out by United
States Attorney John W. Heron. and
brought before United States Commis-
snner John E Bruce He is charged with
emhezlHng $4,000 OF the banks funds,
ana also Wlth making false entries i'm a
report to the Comptroller Of the Cur
IeH'y as tO The banks condition on May
g. lNl Iie pleaded not guilty. His bond was
rN.l by The commissioner al $1,000 and.
mot being able 10 give the same to-day
Oterman was committed TO jail. He viii
ia given a hearing tomorrow. OVerman
SIS cousin Of Ex-Governor Foraker.
The l.. AVID y. Affected lay the allure.
NEW YORK. July 2G.-It IS stated that
u- reason for the disposal of the s.. 10000
Treasury stock of the Louisville and
Nashville was that the company although
had earned the dividend and the sur
plus shown in he statement. had not
received the ual money. The bank
failures iu Kentucky aud the West have
resulted in "a locking up OF this companys
money! as well as that Of other compa-
nfs The shareholders, however, were
entitled 90 their dividends and they were
provided for by disposins OF the Treas
tF Stock The Louisville and Nashville |
l.n loaning money on the street.
Eu,ine.s rnibarrassInertt
kEW YORK. July 26--The failure of |
u J. Nicholas a Co. members OF the |
NsF York stock Exchange is announced. |
lae tm is composed OF IA. /. Nicholas, |
.oal b Nicholas. Waiter g. Taylor aud /
".aic-s Mayer. The firm was considered /
t'.'a prominent one in stock Exchange |
cuHls
lf. Liabilities in loans are reckoned at
N-fH Ihe assienees says the firm can
jay IW cents ON the dollar and have a
t-ip.H leit IL the creditors do moi sac
i..r he assets. The cause Of the fail
l'e Nas the neglect or inability of GUS
..mo,s goo respond 90 calls for margins.
d T Nicholas Herman Clark and r. W.
Evans to-day resigned as directors of the
evansville and Tere Haute, and were
titc0eded by W H. Tiiford and H. |
y. Iill0rd. OF New York, and Ed
Huston. of Evansville. Ind. G.. c. Bald
WIN refined as chairman Of the finance
committee. and his place was taken by
Az J. naDkay. president 0f the company
ATLANTA. GA. July pa tempo
t1if receiver was appointed last night
JOY r. y. Shook q son. furniture dealers.
"..,ls ana liabilities not given.
" ArH WILLIE. TENN. July 2B-B.
L'Ffnfhsl a. SON ana NJ. j. Levy &
toh. Wholesale whisky dealers. and Suls-
@a'h'f Bros, prOprctors Of the Hermit
a. vinegar factory and large produce
eenl'if made special assignments to-day
-ne ininfef arc directly due 20 the fan
VIC 81 ile Louisville Deposit Pank. which
70 u a-ge creditor OF the aesignces
PHILADELPHIA. PA, July 2e.-The