The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-07-11
QUE PRosPRRLTY0 COLUMN.
The Daily Papers Don't Report Failures
Only in Rare Cases, But the Ball
Is Still Going On

IS Still Oo1ng In
CHICAGO, Ill, June 29.-There is q
feeling ofthe greatestuneasineas am 9ng
members of the Chicago B ard of Trade
TO night, for there is no telling what To-
morrow may bring forth. There was
almost a panic on the Board to day,
and while it was averted it may pos
sibly come to morrow.
NIAGARA FALLS, N. Y, July 4.-The
State Banking Department has Just an
nounced tho result of their examina
ticn of the Cataract Bank, which sus
pended payment last month and has
gone into the hands of a receiver. rs
total liablli les are ST., 026, S05 95 and the
assets $754, 996 SO. This viii about wipe
out the capital stock of $500, 900.
DENVER, July 4-Of the 318 silver
mines in this State employing men all
are closed. They have operated at a
loss for nearly year, expecting daily
the white metal would be recognized as
a money metal and the price go up.
Some OF the mines are still pumping
water at enormous expense Until it can
be seen what Congress will do, for it
would be expensive to let them fill up.
This depression has affected all lines
Of business In the State. In Denver
clerical forces of stores have been re
duced, and in many instances wages
have been cut, but they will be re
sumed when the price of silver goes up.
The big gold mines of the State are
atIIl working and many will continue,
but there i no Disgusting the fact that
the closing of the silver mine will cut
off the gold supply, for many Of them
carry gold.
ALBUQUERQUE, New Mexico. july 3
The Albuquerque National Bank
temporarily suspended business this
morning. The President says be hopes
the bank will resume business and that
every creditor will be paid in ful The
assets, he says. greatly exceed the liza
bilities.
GOLDEN, Col, July 3-The McPher-
son County Bank made an assignment
for the benefit of its creditors this
morning. No statement as to assets
and liabilities has so far been made
public.
WASHINGTON, July 3 Comptroller
E:kels is informed that the National
Bank of Commerce of Provo, Utah,
and the First Nation i Bank of Ourav.
Col, closed their doors to business on
Examiner Swan in charge of the Provo
IA ~ OSB1 III 0GSAL@S A-50
a capital of $50, 900 each.
ALBUQUERQUE, July 3 The follow
ing notice was posted on the door of
the Albuquerque National Bank this
morning: Tine Albuquerque National
Bank is compelled to temporarily sus
pend business. This has been brought
about by unusual demands of deposit
ors since the suspension of the Califor
MIA banks about ten days ago and the
absolute impossibility during the pres
ent business depression TO cali In our
loans. Ib is confidently hoped that we
can resume business and that every
creditor will be paid IN full, as the as
sets greatly exec ID the liabilities
JOHN A LEE, Pres't
Boston, Mass, July "a bill in
equity was filed In the United States
Circuit Court this afternoon In which
the Northern Investment Company, of
Lexington, KY, with offices at No. 246
Washington street, this city, is named
as the defendant.
LIMA, Peru, via Galveston, Texas,
July 30-The fall in the price of silver
has produced a financial and CONNER
cial crisis IN Peru
Business in paralyzed. The rate of
exchange is twenty one pence.
President Bermudez to day received
the new French Minister.
Orders have been issued during the
last two days for closing down the sill
yer and lead mines of North Idaho and
of Wood river. Thousands of miners
will be thrown cut of employment dur
ing the next week and there will be
much distress. AS the gold mines yield
considerable silver, many classed as
o-nIA |oo1~D- .--SI1 10 Ah1S~0I - 0T11o
down.
Present indications are that business
kof all kinds will remain at a standstlll
until Congress meets, and if the Sher-
man law is repealed and nothing bet
ter enacted to take it's place the pro-
duction of silver in this State will cease.
The closing of the mines will affect
farmers and all who are dependent
upon a home market.
BROOKLYN, N. Y, July 3.-There was
a slight run IN the Williamsburg Saw
ings Bank at 10 o'clock this morning.
Nearly 1000 persons crowded to get
into the bank as it opened and until
noon hundreds of anxious inquirers
went away satisfied. The proportion
of those withdrawing their deposits
was as five to one of those depositing.
TIFFIN, Ohio, June 30.-The failure
of Charles Foster and his business as
s~ociates in the city of Fostoria has as
sumed proportions which are astound-
ing.
j. b. Gormley, the assignee, fled a
partial report with the Probate Court
today, from which the startling infor-
nation is cleaned that the failure will
in all probability approximate, if not
exceed, one million dollars. Gormley
is the assignee OF Charles Foster and
John W. Davis, individually, and of
Davis & Foster aud E0s Co. The
assets of Davis ore &f6 15Q, and liabIli-
ties $44 740 IS. Davis ter. assets
$181, $50. %; liabilities 213 945 70 Eos
ter & Co.'S bank, assets So. 286 q; LA