The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1893-05-17
BANKS SUSPEND.
The Capital National at Indian
apolis, Closes It's Doors.
Tho Columbia National Bank, at Chicago
In tho Same Both Sus-
pensions Caused by the Recent
Failure of the Chemical Ma
tional Bank at Chicago. t

INDIANAPOLIS, May 12.-The Capital
National bank of this city suspended
payments yesterday morning. The sus-
pension was caused by the failure of
the Chemical National bank of Chicago
and the Premier steel works Of this
city. The Chemical bank is debtor to
the Capital National to the amount of
at least 100000.
The first public intimation Of the
failure was the placard pasted in the
window and the excitement for q time
was intense. A number of people with
drew their deposits from other banks.
The Bank of Commerce had quite a
run. 1t is controlled by the Depauws,
who were the controllers of the Pre-
mier steel works, now in the hands Of
receiver. Some of the paper of
the steel company was held by the
Capital bank. The Bank of Commerce
was prepared for all emergencies and
confidence was soon restored,
The actual liabilities of the Capital
are about 81, sos, 900. The paid up capi-
Utll hUOCh ID gOUO,UOU anu blAO shooNbo "a v
estimated at s25OOOO. NJ. B. Wilson
was president and Charles B. Doherty
cashier. The failure may endanger the
solvency of banks at Vincennes, Sulli-
van and Gas City, in which Wilson,
Doherty and others are large stock
holders, between which and the Capital
intimate relation existed.
1t is believed that the Capital will
pay 100 cents on the dollar.
CHICAGO, May 12.-The Columbia Ma
tional bank of this city suspended yes
terday. Rumors that the institution
was in trouble have been current for
nearly a week. 1t did business with
small country banks a9d was not in es-
TEEN with the other banking concerns
of the city.
In report Of the banks condition,
made by its officers at the close of busi-
ness May 4, the deposits were stated to
be nearly 81, 100000 The capital stock
Of the bank Is 81, 900, 900.
Bankers look upon the failure as q
natural consequence Of more than one
condition. Those in position to know
declare that the Columbia owed $780,
900 to a certain bank whose name is
withheld, aAd that this bank refusing
to accommodate the weakened institu-
tion and give IL time to secure the
meaps to tide it over its difficulties, the
crisis was forced and the bank had to
close It's doors in consequence. Another
reason given for the failure is the al
legged inexperience in banking business
Of the sffieiais. The president Of tAe
concern, Zimri Dwiggins, came to this
city from Logansport, Ind, and is be-
lieved 10 be interested intwo or three
banks In the Hoosier state.
Some time ago the Columbia Nation
al made application 10 be admitted
into the clearing house association.
The banks affairs were carefully ex-
amined with view to such admission,
but the showing made by its officials
was so poor that the application was
rejected.
WILMINGTON, Del, May 12.-The an
nouncement of the failure Of R. r. Rob
inson g. Co., bankers and brokers Of
this city, yesterday created a profound
sensation. The liabilities Of the firm
are estimated at $500, 900, while 1t Is
said the assets will not exceed 500, ,0O0
WASHINGTON, May l2.-Comptroller
Eckels has designated d. A. Cook, bank
examiner for Illinois, outside of the
city of Chicago, to take charge of the
Columbia National bank of Chicago
He has also telegraphed Hugh Young
bank examiner for western Pennsylva
MIA, residing at Pittsburgh, to proceed
at once to indianapolis and take charge
of the Capital National bank of thai
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