Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-06-29
FINANCIAL TROUBLES.
The Reading Railroad and Several Banks
Meet with ReveIses.

The Reading Railroad and Several Banks
Meet With Rtverses.
PHiLhpELpnlt Pa, lune % The board
of managers ~ the Philadelphia K Reading
ltAllroad GOnlpa ut noon today, decided
to abandon the plan for rehabilitation of
the company, because of the required num-
Der OF tsSents from general mortgage bond
holders and shareholders not being OBJ
tanned
The total number OF assents was S3l ,35G-
600 OF general mortgage bunds-about
$4,000, 600 Shorthand Hips shares of
stoek-ts,Ts2 shares short.
Nhile the outcome was not altogether II
surprise, Reading stock dropped from X
TO lo-lb rs soon as the announcement
was made.
The board Of managers issued state.
ment 10 the bnndhpIdCrS and shareholders
Tor publication this afternoon. Ai.uifcal
OF he company -nd otter the meeting Of
the board that foreclosure is now regarded
as inevitable.
4 SAN FRANCISCO BANK ruMRLEs.
SAN Francisco, CAL, juno 23.-At
a meeting of the directors of the Pacific
Bank of san Francisco, held last night,
it was decided not to open their doors
this morning. In statement issued by
their e.prGsident, the liabilities, out
placed at $l,G30,00n The assets, if
properly handled, will reach $4,000, 600.
San FRASCtsco, CAL, June 2i.-Fhe
opinion Of the bankers of san Francisco
is that the Pacific Bank was compelled
to suspend payment because il made un.
wise Investments iii securities from
which it could not get out its rponey,
and that the Peoples Home Savings
e.,
1t had not on hand coin enough to stand
the run sire to follow the announce.
mcnt Of the suspension of the Pacific
| sank, It's business associate.
The furry seems to have passed in
this city and no anxiety is felt that
other banks will succumb. Bankers
say they have ample funds to meet all
demands
DErosIroFs WILL BE PAtD IN FULL.
SEATTLE, NASH, June 23.-A special
from New Whatconn, Washington, says
the First National Bank closed its doors
! yesterday, Inability to realize on its Sc.
curities is the cause given for suspen-
sion. The banks officials state that
| their assets are double their liabilities,
and that depositors will he paid in full.
The bank examiner will be here in n
few days. Depositors feel confident
that they will receive 100 cents on the
dollar. There is no excitement and the
suspension did not precipitate runs on
the other banks.
LEAVING 4 SAFE MARGIN.
WHATCoM, WASH, june 2i.-The
cashierof the failed FIRST National Bank
of Whatcom says the assets are Si2S, 900;
| liabilities Sll0,O0U
Two MORE BANKS CLOSE.
New WnATCoM, WASH, June "a
The Columbia and the FIRST National
Banks closed their doors yesterday.
a BUSINESS FAILURE.
NEW ORLEANS, La, June 24-The
Plaquemine Single and Lumber Com
pany failed yesterday for large sum.
The assets and liabilities are not given
but il is claimed that creditors will be
paid in full.
RUINED ny a RAsCALIY PARTNER.
ElwooD, IND., june 24.-The Alex
andria Investment Company has been
wrecked by Frank p Sceurcc of Lex
ington, Ky. He has forged papers, oh.
tanning over $4,000 in that way alone.
His partner, j. Z. Lauck, also from
Lexington, Ky, is also loser to the ex-
tent Of nearly 100000 by the misdeeds
of his partner, who leaves him penni-
less. The affairs Of the Alexandria con.
| Germ have been assigned to L. b. jack
son Of Anderson. Scarce has been ar.
rnstpl