The morning call., 1893-05-16

NEW York. May Ex-senator Sherman
was seen regarding the reports that he ap-
proved the banking methods of Dwiggins
of Indiana. He said: The statements
of the man Dwiggns, ii that is what you
call him, are absurd. deny them n toto.
l don't know the man. or his bank or his
banking business or his methods or the
cause of his failure. 1t is absurd even to
think L could have approved any such
methods as this man seems to have en-
ployed."
MINNEAPoLIs, May 15.-The Farmers
and Merchants State Bank has suspended
payment. The following notice is posted
on the doors: pending the run this bank
has suspended payment. Expect to re-
sumo in a few days" The statement
shows capital of $50, 600, and surplus OF
$1,000. The suspension causes no surprise,
as the bank has been looked upon as weak
for some time. 1t should be noted that
this is not the Farmers and Mechanics
Savings Bank.
The Northwestern Guaranty Loan Com
pany is in financial embarrassment, owing
To the financial stringency. President
Menage was shown statement by Vice
President LOwery, made In New York. as
TO the company's affairs, saying the COM
pany might have to suspend to-day, or. at
least. il could not stave it off long. de ad-
mitted L1wery'S statement was fair one.
but added that the company had not sus-
pended. Further than this he would not
talk. If the company suspends it will not
do so for several days. It is believed in
business circles here the company will pay
In full, rs the resources are ample under
ordinary circumstances.
Troy, \. Y, May 15.-Nehr & Carpeu-
ter, Eastern managers of the Northwestern
Guaranty Loan Company at Minneapolis,
this morning made an assignment and
closed their doors. Two million dollars of
the sixteen millions debenture bonds re-
Gently Issued by the Northwestern Guar
anty Loan Company have been disposed of
to people in this city and vicinity through
them.
CHICAGO. May 15.-The directors of the
burst Columbia Bank met to-day and de-
cided to resume as soon rs possible.
Godfrey. Clark & Co., paper dealers, this
morning confessed judgment for nearly
100000 There is no statement OF assets
or liabilities.
MILWAUKEE. May 12,-The Planking-
ton Bank opened an hour earlier than usual
this morning. There was no renewal OF
Saturdays run. and the furry seems TO
have entirely subslded. The deposits far
exceed the Withdrawals this morning.
INDIANAPOLIS, Ind, May 15.-United
States Bank Examiner Young and State
Bank Examiner Packard are going through
the affairs Of the Capitol National Bank.
| Mr.. Packard authorizes the statement that
there is considerable more money in cash
| in the bank than was reported by the ban k
officers. The Capitol officers furnish a
statement which indicates that within
thirty DAYS cash amounting to $3.50, 900
will be available. They also claim that
of the banks million of dollars of paper
all is good with the possible exception OF
! $4,000. which may not be convertible at
the present into money, and say that as
soon as the Chemical of Chicago resumes
they will be able to resume also, provided
the Bank Examiners report is favorable.
A run on the Farmers and Mechanics
| Savings Bank began this morning. chiefly
by small deposstors. Ii is considered one
OF the strongest banks in the State. There
! are no fears for its safety.
DENVER, Colo. May 15.-Wiliam IL
| Mygatt, banker ana real estate dealer, as
SlSHSu doSolS dic SlNtu dl
| S591, $50 and his liabilities at S507, ,3S9 The
principal creditor in Denver is the Ma
tional Bank of Commerce, to which My.
| gait owes over $4,000. Mygatt said that
a conservative business man had assured
| him that his assets we're really more than
| the statement filed. AS the statement
stands. he will pay out and have margin
| left. The Eastern banks he said, were
becoming afraid of all security, and espe.
pecially discriminating against Western
paper. Banks with which he had done
! business for long period recently refused
to take securities which they had hitherto
desired 10 accept.