St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-18

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had been asked from tie Third National
bank, of New York city, and the assist
ance was on the way. July the bank
paid their regular annual dividend of 4
per cent. The officers declared that
the depoSitors will be paid dollar for
dollar.
The Missouri National Is a new bank,
having opened in January. 1891. 1t has
a capital stock, paid in. of $3.50. 600, and its
surplus is ST, 000. According to their state
mentSaturday, issued in compliance with
the request of the comptroller of the
currency, cash and sight exchange were
placed at S27l, 024 and the deposits at
$500, 763. The officers are d. V. Rieger,
president: Henry G. Kumpf, vice presi-
dent: K. c. Covington. cashier.
There was no Well-detined run on any
OF the other national banks this morn
ing, although some deposits were drawn
out. At the National Bank of Com
merce 1t was stated that there was a
larger balance i'll Its favor at the clear
| ing house today.
w. $. Woods. president of the Ma
tional Bank of Commerce, said the clos
ing OF the Missouri National bank had
not affected the bank he represented.
I'VE have had our trouble Saturday
and are now through with it," he said.
X. w. Hooker. president of the Met
| ropolltan National bank, said: I'VE
have experienced no trouble from the
| closing of our neighbOr across the hail.
Inc run we had Saturday morning was
caused by having an alarm spread
among some of our depositors, who be-
came frightened at the crowd at the
| other place."
JIG. Stein, cashIerof the Metropolitan
National bank, said: 1--WE have re-
ceiyed much encouragement from coun-
Try correspondents. One who keeps
about $1,000 here has sent us word that
he would let US have $4,000 in cur
rency if we needed it. We did rot need
IT, but we appreciated the spirit. We
have received large shipments Of cur
rency since Saturday."
The other national banks have, to all
appearances, been unaffected by the
furry.
KANSAS CITY. July H. The Grand
Avenue bank, a small private inStitu-
ton, assigned this morning to James
b. Bucket, who Immediately took charge
OF the concern. The banks assets are
placed at s200,0G0 and the liabilities at
$4,000. The bank holds ample gilt
edged securities to meet its obligations,
and the officials expect to resume bust
ness shortly. 1t was rumored Saturday
that this bank had closed, but it appears
that the officials secured money suffi-
cient to tide them over Till today, when
it was hoped some of their securities
could be realized OH. On account of
the scarcity of money, however. this
was impossible, and it became necessary
to close. Extreme confidence in the
ability of the bank to pay dollar for
dollar is expressed by other bankers
here, and no excitement over the tenn
porary suspension is manifested. NJ. a.
Lambert is president, II. Studenrauch
vice president, and Il. c. Lambert cash
Ter of the bank.
KANSAS CITY, July 1.-THE Stars
special from Topeka. Kan, says: State
Bank Examiner Breidental says Hood
Il KincaId's bank, of Pleasanton, Kan,
has failed, and is in the hands of Dep
uty State Bank Commissioner Osborne.
Its capital stock is $4,000. No state
ment is given. Commissioner Brelden-
thai has information of number of
other bank failures in the state, but he
declined to give them to the press until
he has got possession of them.
DENVER, Col, July 1.-THE first bank
failure i'll Denver slnce 1874 occurred
this morning, when the Peoples Saw
ing, the Colorado Savings and the
Rocky Mountain Dime and Dollar Saw
ings banks closed their doors. An es-
innate Of the assets is $1,500,000, with
liabilities at Sl,350,00
The Colorado Savings bank, of which
+. <. Atkins is president and 5. 0. At
kins is cashier, in their statement to the
assignee. Albert Suffers, place the open
accounts due to depositors at S435, los. "a;
certificates of deposits, 50,699 SO: due
other banks, IS, 296 95; cashier checks,
1920. Their assets over liabilities, in
what is declared to be good commercial
ma NOR wall cpo1lrad ara Sro O-Q
f. w. Woodbury. is president and &.
F. Clark cashier of the Rocky Mountain
Dime and Dollar Savings bank,o which
Charles II. Blakeny was this morning
made assignee. A detailed statement
has not yet been made, but from the
books of the institution it would appear
that the assets are Sl56, S03.54. and the
liabilities l05,653.32. The officers of
the institution positively assert that the
depositors will not lose dollar.
1t is understood that all the assign
mentS were precOnceIted and were
done for self-protection, and for the
protection of the creditors. The direct
cause of the failure was the universal
assets. The president of each bank de
clareS that each depositOr will be paid
in full and the business resumed. A
run is being made on the Denver Saw
ings bank. The bank is taking advan-
tage of the thirty and sixty days laws,
and is paying out no amounts over $50.
| President Lawrence, of Peoples Saw
| ingS bank, i'll a statement this morning
| said the savings bank up to six weeks
| ago had most successful career, hav-
| ing in deposits S1,300,000, and had paid
| to its depoStOrS i'll interest SIP S2.
| The causeiess run started May 2, and
| really continued up to last Saturday
| night, when the entire available means
| of the bank were exhausted. and moth
! ing was left but TO assign. The officers
| of the institution pledged their estates
to its support, but the feeling that has
been engendered among Eastern banks
and financial institutions by the recent
| ~ published expressions and demon
STATIONS that have been heralded from
| Colorado, was such that thirty-day
note for $500 or $1,000, signed by Colo
| RADIO parties worth S4,000,000. to raise
| Immediate money, was not worth the
paper it was written on.
| Most persistent efforts were made to
| obtain temporary assistance to tide the
bank over, and up to four days ago the
| necessary assistance was promised by
| Eastern correspondent banks, but since
| the doings of the recent convention in
| this city became known all over the
| country these promises were cancelled
by telegraph. and no alternative was
left us-with notices amounting to
| nearly 100000 for Withdrawals of de-
| poSitS maturing within the near future
| staring us in the face, and the cash on
| hand paid down to 1924. but to make an
| assignment for protection ard benefit
| of all. The failure in the Peoples
Saving bank will in no way affect the
| Peoples National bank, which, with the
| other national banks, are perfectly
| sound, and anticipate no trouble out
| side tile savings bank.
| NEW YORK, July 1.-THE Worlds
| special from Buffalo says: Mortgages
| and judgments have forced the real es-
tate firm of Selleck Bros. to go out of
business. The Sellecks were prominent
| in real estate circles and were consid-
| cred very strong financially. Last year
| they were rated as worth Sl50.OO0. Last
week two Judgments were filed against
them, and then came a suit brought by
| tn