The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-21
OTHER FAILUREs Result
From the Wilmington Bank Failure
other Financial Troubles.

| Abh iho wilmington Ddhh Ihliurei
other Financial Troubles.
WILMINGTON. y. c., June 2O-Adrian
& Vollers. wholesale grocers and liquor
dealers. one Of the oldest business houses
I'm the city. assigned with preferences.
The failure was preciptated by that
OF the Bank Of New Hanover I'm whose
favor they executed a mortgage for ninety
thousand dollars some months ago But
few depOsitOrs are calling for money AT
the Wilmington Savings and Trust Com
pany's banking house to-day, and some
Of those who withdrew their money yes
terday have already returned IT, Depos-
its were being freely made by business
men this morning.
At a meeting Of the executive commit
tee Of the Wilmington Savings and Trust
Company held here to-day it was de-
cided that. beginning with June 2Sth next,
depositors desiring 10 withdraw their de-
posits from the bank will be paid I'm
full.
IT. Walters vice-presldent Of the com
pany received the following telegram
to-day:
baltimore June 19.-Draw on us AT
SIGHT for 10000. or any part thereof. II
required for your Savings and Trust
Company.
(SigneO 'W. T. WALTERS.
''B. +. NEWCOMER"
The Chattanooga Failure.
CHATTANOOGA. June 2O.-The assign
ment Of the city Savings Bank yester-
day caused scarcely a furry I'm financial
circles to-day. The Chattanooga Savings
Bank. as a precautionary measure. took
advantage Of the sixty days notice Of
withdrawal Of deposits. None Of the
banks lost deposits to-day and in most
Of them the deposits increased. The com
munity is so confident that the depositors
of the city Savings Bank will he paid
speedily I'm fun that merchants are offer
ing 10 take their checks az par I'm pay
ment for merchandise The agent of
Dun q Co. denies that the failure was
caused by erroneous information fur
nished by them in confusing the name
"City Savings Bank with the Penny
Savings institution. which was cmbar-
rassed. There is some likelihood that the
city Savings Bank may arrange its af-
fairs SO as TO resume.
Minneapolis Bank Failure.
N1INNEAPOLIS, MINI, June 2o.-The
Peoples Bank, Of this city, suspended
payment to-day. Assurances are given
that depositors will be paid i'm fun The
suspension is caused by the assignment |
of james Mcmillan, the hide mer- |
hants Mr. Mcmillan was the presi- /
dent of the bank, and since his financial |
condition became known there have been /
large Withdrawals from the bank by de- /
oositors. This finally forced suspension. |
although the bank officials declare the /
institution TO be perfectly solvent. The
ldhk is only two years Old and its paid |
Ip capital was but 100000 The sus-
'ension caused but little comment. as the
'ank was known TO be small and weak
Other Failures Reported.
MINNEAPOLIS. MINI. June 2O.-Jas.
lcMiIlan, Of this city made a voluntary
ssignment to NJ. G. Fletcher Mcmillan
vas IN the hide and fur business until
;. short time ago, when the business was
transferred 20 a corporation known as
ames Mcmillan 81 Co. The assignment
oes not affect this corporation.
Fletcher estimates the assets at about
100000. Liabilities. S25O.000 OF the liza
iites CD per cent are foreign creditors.
ersons who have made consignments Of
oods TO him or furnished capital The
ther 40 per cent. are Minneapolis people.
CHICAGO, June 2O-The Central En-
ineerins Company. CT Harvey. H.. has
ssisned. The liabinues are said to be
&. 900
d. c.. June 2O.-Comp-
roller Eckels has been informed of the
iilure OF the Linn County National Bank.
{ Albany, Oregon. Its capital was Sl00.-
7. Bank Examiner Jennings has been
laced in Charge