The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-16
BANKS IN 7ROUBLE.
The First National Of Arkansas City, Kan,
Closes It's Doors.

The First National OF Arkansas City, Kan,
Closes It's Doors.
ARKANSAS CITY Kan. juno 10. The First Ma
tional Bank Of Arkansas City. Kan. closed its
doors to-day. 1t was organized June 30. 1850
with capital stock OF S5O.0Oo. which it after
ward increased to Sl25.0O0. When examined in
December. 1892. it had capital of Sl25.OO0
and surplus and profits as shown by Its books
mounting to about $4,000. but the Ex-
aniner's report showed that excessive loans
and discounts to tho amount OF SlS0.OO0 had
been made to ten parties. and that loans and
discounts to the amount OF 100000 had been
mado to the President. William S,eeth. the
cashier, II. p. Farrar. and tho assistant Gu asher
+. ". Farrar.
The Examiner estimated that losses to tho
extent OF $4,000 had Lcen sustained by the
bank. and the Comptroller. in rriticising the
report then made. directed the bank to use it's
surplus and profits to charge of 100000 OF
this estimated loss. and gave notice Of an as
scssment OF $4,000 upon the bank to mako
good the impairment OF capital shown to this
amount. The bank was again examined on
April ~. and the Examiner. being still OF the
opinion that the capital was impaired by
LOSSES sustained upon its assets. tho Comp
asses ment must be paid in by the sharehold-
ers without further delay.
that having most OF It's resources tied up in
loans and other investments which could not
be converted into cash. II WAS unable TO re-
spond to the demands Of Gepositors, the bulk
OF the deposits being PAYABLE on Gsinan'l.
The President and the cashier appear to have
been the main managers Of the bank and to
their conduct OF affairs in lRrEe measure is
due the condi' ion which brought about the col
lapse Of it. This afternoon Co!nptroller Eckels
appointed Hiram Waworth OF PlattsDurgh.
\. Y, receiver OF the bank:
sT LSrIii June I I5;oS Bonham banker at
iNDGANArnI's June i5-The Comptroller Of
the Currency has extended the time for reopen
ing the Capital National Bank until Monday
next, at which time 1t will resume. The
directors announce that it will have S75o,0Oo
with which to oTcn its doors, sufficient TO nay
every depositor on sight
ANDERSON. Ind. June 15-Thc Farmers and
County, Just north Of here, closed its doors yes
t. r,,nv aud assigned to Philip Matthew OF Mar
ion Ind Quito a crowd OF farmers rushed for
the bank and threatened to use dynamite un,
Icvi Scott are its officers. 1t had pad-up
capital OF S5o.0UO. with surplus Of $1,000 at
C4IcAdo. June 15.--At q meeting of the stock
day it was decided to resume business. Steps
were taken toward reorganization.
WESTON O., June Ii. Tho exchange Banking
Company Of this place has closed its doors. Tho
The directors have notified dcrositprs that they
will probably receive dollar for dollar.
BosToN. June 15.-l.ereiver Trask Of tho
Order OF the Unity has discovered deficit in
to between SisO00 and s2O.OuC., He also re-
ports the destruction or conrealment ~ i'm
portRnt books and vouchers Charles A. kilnp-
ton. supreme Treasurer of the order through
missing from his residence In Someryilte for
nearly n fortnight and cannot te found.