The Wichita daily eagle., 1893-06-27
FAIt IIPEC

MINNEAPoLIs. MINI, June 26.-The
Bank of New England suspended payment
this morning, temporarily at least. Since
the failure of the State bank on Thursday
.here has been steady withdrawal of de-
posits. A. j. Biethen, the president OF the
bank. says that it had considerable money
tied up by the Chicago failures. Every
riepositor, be adds, will be paid in full, as
the stock will suffer instead OF the
depositors if the bank does not resume.
The bank had cash available to the amount
uf S64, 600 on May 4, the time OF the last
report, but its liabilities were 500, QUO and
the assets somewhat in excess of that
amount. The capital stock OF tine bank
Is SlO0,OO0; surplus, 81, 600; undivided
profits, 1900; deposits unknown.
NESS CITY, Kan, June 2G.-Ihe Bank OF
Ness City has been closed by Bank Com
missioner Breidenthal, after an uDsuccess-
iul attempt TO raise money among It's
eastern stock holders 10 tide il over its
present embarrassment. This bank,
which had d capital OF $40, 900, had S3l 800
in deposits. When the bank commissioner
took charge Of IL the cash on hand amount
I'd to Just SS3 30. Mr.. Breidenthal says
that the bank was loaded down with real
estate and bad debts.
BUFFALO, y. y. June 26.-The Queen
CITY bank of this city has failed. The
suspension is due to a drain of money out
of the bank for several weeks. The bank
owes depositOrs over 81, 100000. The ofil-
GERS are hopeful that the bank will re-
sumo. The liabilities Of the bank. accord
ing to the June report, are S2,326, 154. The
assets are not known.
The bank paid out all the money il had,
even to dimes, nickels and pennies. Mr.
Englehart, one of the directors, said that
the bank had plenty OF collateral, but
In IN in ha
present financial strDgency. The New
York banks would not let them nave any
money The depositors will be paid In
full. The state superintendent of banking
will send an examiner here. The presi
dent, until recently. when he resigned on
account of i'll health, was William H.
jackson. Since his resignation the bank
has been in charge Of committee of its
directors.
ALBANY, y. Y, June 26-Superintend-
ent Preston of the state banking depart
ment. speaking of the Queen City bank
failure. said that the report Of the conai-
tion of the bank on June 1st showed re-
sources of $2,35l, 600 and liabilities of S.
.35l, 900. Reference to the amount of cash
on hand shows that il does not equal the
amount of the 10 per cent legal reserve re-
uuired by law. The report of the exami-
ner for February showed nominal sur
plus of SO, 500. Poor investments had
SOnSjG6rabIc 10 90 WIFI Jne COllapSb
CHESTER, Pa, June 26. - the Crum
Greek Iron and Steel company has assign
ed. The liabilities are estimated at Sl2O,-
coo and the assets at $4,000 The sum of
S40,C00is due the company from a former
agent. Dizziness in trade and threatened
suits caused the failure.
NEW YORK, june 26-Mann Bros,
clothing dealers, today confessed iudg-
ment for 500, 900. The attorneys for the
ltirm say that the liabilities are about $780,
O00, half of which Is tor borrowed money
and the other half for merchandise, The
value of the assets Is not known. The
failure is attributed to several causes ihe
stringency in the money market being the
principal one, as :hey were unable TO meet
notes as they mature.
NEW YORK, June 26-The supreme
court this morning appointed a receiver
Cor the Mutual Brewing company of Col
lege Point
GALLIPoLIs, o., June 96.-The Carl
coal works, at Carlton, have assigned
The Liabilities are $4,000, and the assets
1900.
HAMILTON, O., June 26.-Louis Snyder's
Sons tonight assigned their four great
paper mills at Hamilton, and their real
estate and paper warehouses, with con-
tents, in Cincinnati. The assets are over
Sl.Ou0000. The liabilities are less than
SjOO,O0O. The assignment IS due to he
fact that they were unable 10 borrow 81
900 from the banks. 1t Is an old and wei
established firm.
Port Anglers, Wash, June 26.-The
First National bank has suspended TEN
porarily. The assets are Sl42, 900, and the
liabilities SS5, coo
SAN FRANCISCO, June 26-Sands &,
Gump. extensive dealers in art goods. have
assigned. The liabilities are Sl4.0O0 and
the assets 100000 The stringency in
money caused the failure
WILMINGTON, O., June 6-The Sabina
bank, private banking institution IN this
county, has suspended. The capital is
$1,000 No statement was made
BOSTON, June u G-Forty-three banks
represented At the clearing house meeting
this morning, voted unanimously in favor
oi clearing house certificates for payment
at the clearing house.