Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-08-01
KATE GANSETr WELLS.
CONCERNING BUSINESS AND FINANCE

CHICAGO. July S1.-A special from Den
YER Col, says that Attorney General Eng
10y has rendered an opinion TO the effect
that 10 is within the power OF the LeRlsla-
ture 20 enact appropriate Legislation lor
the establishment Of statutory depository
OF silver bullion and the issuance Of certih-
Gates thereon, assigpable 10 delivery ana
receivable by the State in the payment OF
State taxes.
WASHINGTON, July 31.-Acting Mint Di-
rector Preston characterizes as wild
heresy the proposition Of State Attorney
General Engley, Of Colorado, to establish
+ State bullion depository 70 issue cerun-
Gates against silver bullion. The scheme
is not violatlve OF the United States stat
utes, 10 is said, but IL IS regarded at the
treasury as a temporary make-shlft and i'm
practicable.
NEW York, July 31.-With this morning
the savings banks, as a rule, began TO take
advantage Of the sixty day time clause.
That Is, the bank officials made use OF the
prerogative in cases where large amounts
were concerned, or where such action was
deemed necessary TO check the withdrawal
OF money FOR boarding or in senseless
| fright. But while nearly all the banks
claimed the privilege Of using the time
| clause. still in comparatively few instances
was it applied. A visit 70 the principal
savings banks of this city this morning
disclosed the fact that about the usual
amount Of business was being done. Per
haDs a trifie more than the average number
Of deDositors were waiting their turns
10 draw money, but on the other hand, in
most Of the banks there were correspond
| ing lines Of persons anxious 10 deposit
money. The general impression seemed 10
De one of confidence in the banks. There
did not seem TO be anything like run"
anywhere ia this city. In Brooklyn the
effect was somewhat different, and the no
tice caused several runs The greatest was
on the BROOKLYN Savings Bank. When the
doors of the bank opened crowd was
waiting TO draw its money. Threats were
made, but as these were OF no avail the
crowd went away in an ugly mood. Slight
runs were also made on the South Brook
lyn Savings Institution, and on the Dime
Savings Bank.
AKRON, o., July 9L-The Akron Saw
ings bank did not open this morning for
/ business. William Buchtel, President OF
the bank, has been appointed receiver.
The capital stock is S2O0,00O, with re-
serve fund Of 5000 aud undivided profits
Of $4,000. The bank will pay dollar for
dollar. Cause Of suspension, inability 10
realize on securities.
HoRNELLsyILLE, n. Y, July Sl.-The
private baking house Of n. M. Crane IL
Company closed its doors this morning.
The suspension is attributed TO the general
striugency prevailing in business circles,
and the value of the assets are stated TO
equal the liabilities, but cannot be realized
on az present
MILWAUKEE,, Wis, July S1.-A special
from Ashland, Wis, Saws the First Ma
tional Bank of Ashland, Wis, failed to
open its doors this morning. There has
been a steady draw on the banks deposits
for q month past. Its reSOerces according
to the statement filed July Is, were $685.,
ASS ID. r. Ellis is President and ex-GOv-
ernor Sam 5. Fifeld Vice President. The
other banks are experiencing runs in con-
sequence Of the First National failure.
CHICAGO. July 3L-As q result Of the
big drop in the price Of September wheat
on the Board of Trade to-day the firm OF
Lyon Il Hurlburt notified is customers to
protect themselves. The firm is under
stood TO have been carrying 500, 000 bushels
Of wheat on which there was a loss of some
$4,000, but was short about 600, 600 bushels
OF corn on which there was a profit Of
SO, OOO, leaving a net loss Of $4,000. The
firm promises TO pay in full as soon as it
can realize 90 colaterals. The senior men,
Der Of the firm, J. 3. Lyon, is one Of the
oldest and best known members OF the
Board Of Trade and at one time made a
great stir by running a corner in corn.