Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-07-12
CONCERNING BUSINESS AND FINANCE

KANSAS CRY, Mo-, July 1.-THE Kansas
Safe Deposit and Trust Company, the lar
gest savings bank in Missouri, aud consio-
cred 10 be one of the strongest institutions
In the State, failed this morning. A nouce
posted on the door stated that the bank hae
assigned last night TO Walter j. Bates ana
w. d. Mcleod, and that the latter nad
taken possession. The assets OF the cos-
Germ are given as 5000, 900 and the liaoil-
ities 81. .0o0. 600. The bank was capital
lied for s., ,OOO, 900. Its President is J. Z.
Darragh, w. p. Moore, Vice President,
B. c. Sattle, cashier. II is asserted by the
officers that they will be able within thirty
DAYS 10 pay all obligations in full But ut.
tie ecipement was caused by the failure
and il is not anticipated thatit Will enect
other Kansas City institutions. The BANK
will go out Of business after winding uoits
affairs. The assignees claim TO lnlw
nothing OF the present condition OF the
bank, and say that correct statement VIII
not be forthcoming for three or four days.
SHELBYvILLE, Ills, July u.-Thorn-
toms banking house, Thomas NJ. Thornton,
proprietor, has made an assignment for the
benefit of creditors. The crash was
wholly unexpected, as the house has long
been looked upon as one of the strongest
private banks in Central Illinois. IL was
the depository for the county, city and
township funds, the county treasury being
involved TO the amount Of more than $50.
000 Mr.. Thornton has large landed
estates and other good security, and
it is hoped he will be able TO pay
dollar for dollar TO all depositors.
He reserves nothing, and In any event will
be left penniless. The bank has always
enjoyed large patronage and been backed
by ample capital, and was, therefore,
fOr riH n
dreds Of business men and farmers are in
volved, and the failure will probably prove
a great blow to all busiaess interests. A
statement Of assets and liabilities is prom
| ised this afternoon. AS result OF the
Thornton bank failure, Charles h. Wood
ward. of the Star mills of this city, was
compelled TO assign to-day. Liabilities,
s75, 200; assets, $55,000. G. S. Woodward
vs the assignee.
WASHINGTON, d. c., July 11.-There was
but one response 10 Acting Director Pres
toms counter proposition to the silver
brokers yesterday. and that was limited
TO an offer of 100000 ounces Of silver at
| 7lJS cents per ounce. This came from New
York by telegraph, after the close of the
Office yesterday, and was promptly accept
| ed Tomorrow another effort will be
made TO secure more silver. and as the
price Ia London this morning was up Ad
to 3SH, it may be that the Department will
have to pay more than ~, IL II decides TO
buy at all 1t is stated that the purpose
Of the Acting Director Of the mint just now
is to secure steady quotations rather than
! to affect the market one way or another,
and when the quotations have become
steadier 1t is probable that the purchases
will be resumed on larger amounts.
ST. LOUIS, Mo, July 11.-Charles, Henry
| E. and Ella G.. Hoyle, OF this city, who, ss
heirs, have jointly managed an estate, have
made an assignment to G. Z. Nichols, OF
| their combined property interests. As
sets s235. 200; less membranes aggregat-
ing sl6S, ,0OO. Liabilities about equal TO the
net assets.
LONDON, July 1.-THE most important
! OF the two failures announced today is
| that of John Francis Holcome Read, q
stock broker, whose offices are at No. 3 Au-
| tin Friars. He had been long established
| in business and had large account In rail-
road and Peruvian securities.