The record-union., 1893-05-13
Special to the REcoRp-ux1oN.

tions Also Suffer.
Special to the RECoRD-UNIoN.
New YORK, May 12.-The fact that
commercial paper is beginning to move,
although very slowly, is leading to the
belief that bankers think the crisis past,
as far as New York is concerned. The
idea is that the stringency has been suffi-
cient TO uncover weak spots and bring
rottenness to light wherever it exists.
This, however, is little more than a
'pious opinion" on the part OF few
bankers, and as far as the largest and
conservative banks are concerned, there
Is no relaxation to restrictions on COM
mercial paper. Some time loans have
been made at per cent. on good mixed
collateral, but only to substantial houses.
OUT OF TOWN ON BUSINESS.
EDwARDsBURG (Mich.), May 12.-The
Citizens Bank displayed a notice on its
door this morning as follows: "Out of
town on business; back at noon."
Dwiggins, Starouck & Co. of the Co.
lumbia National Bank of Chicago held a
large share of the stock in the Citizens
Bank. The citizens of this place are in
terested to the extent of S25, 900. The
township and school funds are also tied
up.
The manager of the local bank at Law
ton, Mich, has left town. His bank is
closed. The liabilities are small.
IN THE sHER:FF's HANDS.
MILWAUKEE, May 12.-The stores of
Frank \. Lappen q Co. and the Lappen
Furniture Company, doing an immense
business in dry goods and house furnish
ing, are in the hands of the Sheriff on
executions aggregating over So, 900.
ANOTHER BANK GOES.
INDIANAPOLIS, May 12.-The Com
mercial Bank of Brookston has failed.
There is no statement of assets or liabili-
ties. 1t was controlled by the Columbia
Bank of Chicago.
TWO SMALL CONCERNS.
KoKoMo 0nd.), May 12.-Tbe Com
mercial State Bank of Russiaville and the
Farmers Bank of Greentown, both un-
der one management, failed this morning
for $4,000. The failure of the Columbia
Bank at Chicago is responsible for the
collapse. About twenty other banks in
1ihldila dAO COIltCltO " SOluS GAlbuL
with the Columbia Bank, and like a num-
Der of private banks, are mostly small
concerns.
THE WILMINGTON FAILURE.
WILMINGTON DELI. May 12.-The liza
bilities of r. r. Robinson d Co., the sus-
pended bankers, are S325, 900; assets, $780,
COO. The Order of the Knights of Pythias
had a large amount of money in the
bank. 1t is understood to be about S7O,-
900.
CINCINNATI BANKERS GO UNDER.
CINCINNATI, May l2.-The private bank
of Dwiggins, Starbuck S Co., at Will
iamsburg, o., closed its doors this morn
ing on orders from Dwiggins, President
of the Columbia Bank at Chicago. 1t was
n branch of that bank The assets are
$4,000; liabilities, 100000. The expert
accountant employed at the bank yester-
day came here early this morning and
was arrested and charged with embezzle-
ment. 1t is suspected that he has been
employed to conceal some funds of the
bank.
AN OTTAWA FAILURE.
OTTAWA Ql.l, May u. - Richard J.
Hornick, banker, merchant and specu-
lator of Grand Ridge, has failed, owing
to the run on his bank, caused by finan-
cial ENHANCEMENT with his brother, John
Hornick of Sioux City.
CLOSED ITS DOORS.
INDIANAPOLIS, May I2.-The bank of
Greenwood, Ind, has closed its doors on
account of the failure of the Column bia
Bank at Chicago. There is no statement.
CITY BANKS To BE EXAMINED.
NEW YORK, May ia report is cur
rent in Wall street that the Comptroller
of the Currency has ordered an imme-
diate examination into the condition of
four city banks. An inquiry failed to
SHOW any foundation for the report. All
the city banks are believed to be solid.
AN EXECUTION FILED.
MILWAUKEE, May 12.-Plankington
this afternoon filed an execution against
Lappen & Co. for $4,000. The liabilities
of the firm, so far as known, are $500, coo.
FAILURES AT LONDON.
LONDON, May l2.-The advance in the
rate of discount by the Bank of England
yesterday to 3 per cent. rendered the
regular fortnightly settlement of accounts
on the stock exchange very difficult, and
seven small banks have failed. A better
feeling prevails in the market for
American securities.
The exchange members who failed are:
Willis, Evitt, Neruda, Davis, Perceval.
Seymour and Wilkinson. They are
mostly small fry, two are brokers and
five are jobbers.
The account of another member was
closed. He was long on American
shares. including 5000 St.'Paul. Traders
generally consider to-day's advance in
prices is made to get rid OF stocks left
with houses in weak position, as was
disclosed yesterday. This is likely to
choke the revival of business.
POLITICAL GOSSIP.