The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-08-15
CONGRESS HAS MET.
Confidence Not Yet Restored--Gold Still
Coming Back and the Sherman Law
Still in Operation--More Money
Is the Only Thing that Will
Stop the Failures.

CHICAGO, Ill, Aug. Receivers
we're appointed to-day for the great
wholesale and retail houses Of the Jas.
H. Wheeler Company.
The application for receivers was
made by creditors, including A. D.
Juilliard, Bliss, Fabian & Co, the Fl.
B. Cladin Company, of New York, and
Columbus r. Cummings, William B.
Howard and Irving, Hartz Enow, of
Chicago. The receivers are the Chicago
Title and Trust Company and William
A. Mason, the latter being the treasurer
of the firm. A. D. Juilliard is a credi-
tor for $120, 600, Bliss, Fabian & Co,
for 5000, 600, and the H. B Clafin Co.
$50, 900. The full amount due New
York creditors is said to be about
So, OOO, 900, while the total liabilities are
estimated at 50, 400, 600.
MILWAUKEE, Wis, Aug. "A SEN
sation was caused to day by the bring
ing of suits against Senator John L.
Mitchell, principal stakeholder of the
Wisconsin Marine and Fire Insurance
Company Bank, by the receiver of the
corporation and by the widow Of Alex
ander Mitchell, mother of the Senator.
In addition to the suits brought against
Senator Mitchell by the receiver, &C
tions were brought against David Fer
guson and John Johnson, also stock
holders in the Mitchell Bank.
ST. PAUL, Mimi, Aug. 4-The an
nouncement this morning that the
National German-American Bank
which has a larger capital than any
other bank in ST. Paul-would not
open it's doors for business caused ire
mendous excitement, and when the
NkhnTa hnnRc Nnonn6 Ahn~o AVA loo
lines of depositOrs in front of every one
of them.
The outlook was so threatening that
the Peoples and West Side banks
two small State institutious-did not
open their doors. By the noon hour
the crowds melted away from all the
banks except the Germania and the
First National. Depositors kept with
drawing money from these steadily up
to three o'clock.
AttheG ermania Bank Cashier Bickel
appeared at three o'clock and posted a
large placard announcing that the
bank would remain open until mid
night to pay all demands. At the First
National Bank also the doors remained
open, and Cashier Bailey said the pay
ing tellers would remain as long as
there was a depositor in sight.
President Hill, of the Great Northern
Railroad, a large stakeholder of the
First National Bank, sat in the bank
all the afternoon smilingly chatting
with President Upham. 1t vas said
that he had 50, O0O, 900 in ready cash
which he was willing to place at the
disposal of the bank at a moments
notice. The institution, however, had
no need of help from any source. 1t
has a million dollars more than enough
to pay every dollar asked for. The u
was an unreasonable one, induced
solely by the general unrest. By six
o'clock not a depositor was In sight.
The situation was very much the
same at the Germania Bank, and at
half past five o'clock Withdrawals had
practically ceased. The Clearing House
statement was more favorable this
evening than was expected, and the
bankers express the belief that the run
will amount to nothing to morrow.
Each of to-day's suspensions was in
significant. The Peoples Bank was
organized under the State Banking act
on December Is, 1882, with a capital of
5000. 900. It had but little moce than
800. 900 on deposit. The West Side
Bank is also a State institution, hav-
ing been organized on August "a, 1886.
It's capital is 800, 900 and it's deposits
had run down to about $4,000. Daniel
w. Lawler, Democratic candidate for
Governor of Minnesota last fall, has
] been appointed examiner to take charge