The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-08-05
BANK EAlLuRes.
Controller Eclxics Says tho Number h
Only 1On Instcnd of Over 200.

Controller Ecltics Says tho Number h
Only 1OB Instead of over 400.
WASHINGTON, July 29.--A press dcs.
patch from Washington recently An,
nounced that over 200 nat onal banlrA
had failed since the first of January,
1893. Controller of the Currency Eek.
els, in order to refute this assertion
has carefully prepared statement OF
the national bank failures since Janus
ary 1. This statement Is as follows,
Recent dispatches having appeared in
the newspapers to the effect that since
January 1, 1898, two hundred national
banks have failed, the following state
ment has been prepared that the public
may be properly informed:
Instead of zoo having closed thei,
doors, 105 have gone into the hands o,
the controller of the currency. Four
teen of this number have already re.
sumed business under favorable condi'
tions and secure the confidence of the
communities where located, and during
the ensuing week it is said several 9th,
ers will have the requirements of the
controller and reopen while prior te
September 1, an equal number will re.
sumo. Out of the total of 105 closed,
but So have gone into the hands of re.
ceivers, the balance either having re.
opened or are still in the hands of ex.
aminers, with strong prospects of re
opening.
Five of the 105 banks are capitalized
in the amount of 81. 900, 900; one at $780,.
900, six at $500, 900; So at $50, 900 and the
remaining at 100000, $3.50, 900, 500, 0Ot
and less, but more than $4,000, the
greater number however, being from
100000 to $3.50, 900. BY geographical
sections the failures are distributed aa
follows: New England states, 2; east
ern states, 9; middle and Mississippi
valley states, Is; northwestern states,
Q; western states, 55; southern states,
25; total 1O5.
The bank failures by states are al
follows: Alabama, 1; California, 8; Col.
orado, Is; Florida, 9; Georgia, 8; Illi-
nois, 8; Indiana, 8; Iowa, 2; Kansas, g.
Kentucky, g.; Michigan, 2; Mississippi,
1; Missouri, 3; Montana, 6; Nebraska,
s; New Hampshire, 9; New Mexico, Il
New York, 2; North Carolina, 1; North
Dakota, 8; Ohio, 3; Oklahoma r., /,
Oregon, Q; South Dakola, 9; Tennessee
8; Texas, Z; Utah, 8; Washington, To-
Wisconsin, 1: Wyoming, 1.
1t is to be observed that there have
been no failures of national banks in
twenty-one states and territories. II
is further worthy of note that no ma
tional banks have failed in Boston,
Brooklyn, Philadelphia, Pittsburgh
Baltimore, Virginia, Buffalo, Cincin
natl, st. Louis, New Orleans, San Fran
cisco, Minneapolis, ST. Paul and numer
GUS other great commercial centers.
and that but one has closed in New
York, two in Chicago and one in Mil
waukee. The cause of the failures il
New York and Chicago were due large
ly to mismanagement as were numer
Gus others. Local scares have caused
many of late to suspend.
OF the banks failed, nine were robbed
by officials who are under arrest.
After giving the names of the four
teen failed banks that have reopened
Mr.. Eckels says: MANY more will re
open, as the majority of those recently
failed are absolutely solvent and only
closed through an unwarranted lack o.
confidence in them, causing disastrou.
runs"