The record-union., 1893-05-17
A STRINGENCY OF MONEY.
The Financial World Still in a
Very Unsettled State.
SEVERAL MORE BANKS FORCED TO
SUSPEND PAYMENT
The Armored Cruiser New York
Leaves the Shipyards at PhiIa-
delphia on Her Official Trial Trip
Foreign Naval Officers Surprised
and Delighted at the Manner in
Which Her Departure Was Con-
ducted.

Special to the RECoRD-UNIoN.
WATERLOO Qowa), May 16.-The First
National Bank of Cedar Falls suspended
at the close of business to-day, being in
volved by the assignment of William NJ.
Field & Brother, who failed on Monday,
and who control a majority of the stock.
Field and his brother were among the
largest importers of draft and coach
horses in the West, and their failure is
due to decline in the stock which they
handle. The liabilities of the bank are
estimated at 100000 to $150,000. while
the personal liabilities of the Fields will
be fully as much more. No statement
of the assets can be given as yet, the re-
sources consisting of l25 imported draft
and coach horses, and large tracts of
land in Iowa, the Dakotas and
Kansas. The bank is in the hands of the
Comptroller of Currency. 1t is said to
be solvent and will pay all claims in full.
The creditors are 152 in number, mostly
farmers from the surrounding country.
BANK OF THE CARoLINAs.
CHARLESTON IS. O., May l6.-The
doors of the Bank of the Carolinas, with
tLO AOIl1O OIllCc dI GulS SLdLo,
closed with a notice of temporary sus-
pension until meeting of the directors.
The capital stock of the bank is $50, 600. 1t
has branches at Kingstree, Conway, Will
liston and Yarnville, in this State, and
several towns in North Carolina. 1t is be-
lieyed the bank has assets to cover all
Indebtedness. The stringency of the
money market and consequent inability
to realize on securities caused the failure.
ERAsTUs wIMAN FAILS.
New YORK, May l6.-Erastus Wiman
has made general assignment for the re-
lief of his creditors. Wiman would not
make a formal statement, merely say
ing the assignment was without prefer
ences. At the close of conference be-
tween Erastus Wiman and Attorney A.
B. Fletcher, the latter gentleman, repre-
senting majority of the stockholders,
made the following statement: "Wiman
figured out with me this morning that his
total debts amounted to some $500, 900.
His assests to large extent are mere
conjecture as he owns property which
might be made very valuable could his
schemes, in some cases already half
carried through, be brought to pertec-
tion.n
DID BUSINESS WITHOUT CAPITAL.
BLOOMINGTON, May l6. The Ex-
change Bank of Norval, a suburb of this
city, closed its doors to-day. 1t was a
private bank, conducted by w. f.
Schureman. The cause of the failure was
the doing of business without capital 1t
has been expected for some time. The
deposits averaged $4,000. The capital
stock is supposed to be $500
COAL COMPANY ASSIGNS.
TORONTO (Ont,), May 16.-The Ontario
Coal Company has assigned. The Mol
son Bank is the principal local creditor,
the amount of paper held by it being be-
tween $780, 900 and 100000. The Ontario
bank is interested to the extent of over
100000.
FORGED PoPER OUT.
DETROIT, May 16.-Herman c. Fech-
heimer. leading wholesale lquor-dealer,
has failed two weeks ago his partner.
Thomas Swan, caused his arrest on a
charge of fraud. He was released on bail,
and has not been seen since. Bank
officials admit much of the 500. 200 of
Fechheimer's paper held by the bank is
forged. Cincinnati banks, it is also said,
held large amount of forged paper.