The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-14

DETROIT. June 1a-For some time there
has been an uneasy feeling here in banking
orioles. occasioned by tho numerous tinan-
cial disasters that have recently occurred
throughout the country. especially in tho
West Although until this morning there
had not been Q decided run on any Of the
savings banks of Detroit. considerable
money has been withdrawn in quiet way.
and to forestall any movement that might
result disastrously to them and as an act
of mutual protection the officers of these
institutions met last night and resolved In
mand the usual rinety days notice for
withdrawal of dep osits. Ten banks signed
tho agreement. When the doors of the
Peoples Savings Bank. one of the largest
in Detroit. opened this morning an I'M
mense crowd of people fiocked in with the
intention of Withdrawing their deposits.
They were notified that ninety days notice
would be required. This seemed to allay
the excitement somewhat A long line Of
business men making heavy deposits also
bad much to do toward quieting the fears
of smaller dcp0sitors. The deposits in the
Peoples Savings Bank amount TO over
sc. 600. 600. State Banking Commissioner
Sherwood pronOunces 1t and the other
savings banks in the city in hrst-class con-
dition, and says there is no occasion for
alarm.
Defalcntions AycreGating Over $4,000.
NEW YORK, June 13-Defalcations ag-
Rregating S70.S30 have been discovered In
the Irving Savings Institution. No. a6 War
rem street. New York. The shortage was
discovered by the State bank examiners.
who are still at work on the books and
will not complete their work Of scrutiniz-
ing the banks accounts for some time. as
there are 1900 individual accounts to in
vestigate. besides the regular bank books
The officials implicated by the statement
of the examiners arc Clarence ID. Heaton.
of Brooklyn, who was president of the IN
stitutiOn, and had Overtirawn his account
to the amount of S27. 100; ex-Secretary VIM.
II. Buxton, of this city. and Paying Teller
ID. ID. TOmpklns. After the defslcations
were discovered the reslgnations of tho
three officers named were received and ac-
cep ted. and State Bank Superintendent
Charles NJ. Preston reported the facts OF
tho case to the district attorney. Part of
the money has been returned. The bank
will lose nothing.
Superintendent Preston has placed the
facts In his possession before the district
attorney. and further erdevelcpments as to
the guilty ptrties wilt~probabiy follow.
Lawyer Stern said be could place his hands
on the ex- x-presIdent. secretary and paying
teller Whenever required TO do so, but that
the case is one for the district attorney to act
upon. Tompkins Is sixty years of age and
has been with the bank IN ore than twenty
years. Mr. Heaton and Mr.. Buxton bad
each been connected with the bank for
about thirty years. Superintendent Pres
ton tonight said that the defalcations had
been going on for ten years. Tompkins
said that he had used the money he alb
etracted for living expenses and Heaton said
that he had lost SIS. .000 by going on the bond
OF lawyer Cohen, who was associated with
the Cassie Brooks case.
Blow the Preservers' Trust.
CHICAGO. June 13-Judge Mcconnell TO-
day hit the trusts hard rap. particularly
the Preservers' Trust. The so-called Amer
lean Preservers' Association. o corporation
representing the trust, is litigating with
q recalcitrant member of the trust. Andrew
Bishop. In overruling demurrer bv the
association in the case Judge Mcconnell
said: mo court on record should lend its
legal operations to fnrther the interests
and carry out the purpose OF trust. To
my mind the corporation known 40 the
American Fruit preservers' Association IL
but the agent of the trust. and as such tho
same Illegality attaches to it as to the prin-
cipal concern" AS the case now stands
the association has been granted three days
in which to reply to Bishop. In case the
association abides by it's demurrer the case
will be appealed to q higher court.
Franklin buggy Company Fails.
COLUMBUS. o.. June 13.-The Franklin
Buggy Company has been put in the hands
Of receiver. Mr.. w. S. s. Rogers. IL 10
the smallest and youngest company in the
business In this city. Liabilities are
stated to be about S75. 600. Assets Will
q
Reynolds Is the president. The concern
W as not making money. and the receiver
ship 10 said to be intended to wind up
losing business on account OF the tight
purchased than could be manu factured and
disposed of profitably.
Other Business Troubles.
KANSAS CITY. Mo-, Juno 1S.-As the result
of the suspension yesterday of the Peoples
with deposits of only $4,000. q run was
started on the Kansas City Safe De posit
and Savings Bank this morning. The
bank took advantage of the thirty day
noon it was practically over. None of the
other banks experienced run.
NAsHvILLF. Tenn. Juno 13.-The Nash
viIlo Savings Company, of which Thomas
8. Mars 10 owner and president. filed an
assignment tonight. The liabilities are
go. go ana assets .alue0 at about Sl23, 3,OOO
The deposits amount to e1o9.O1o. % and GER
tificates of deposits S72.sll.2l. Among the
assets are $4,000 on deposit with Arthur
Ketchan ~ Co., suspended bankers of New
York.
LANSING, Mich, June 1a-The Commis-
sIoner of BANKING has received notice that
the State Bank of Crystal Falls has made
an assignment. The bank WAS organized
only n year ago. Its capital stock amounts
to bat S25.000 and deposits 100000. The
bank was involved in the bank failure of
the Plankinton Bank in Milwaukee.
CLEVELAND. June 13-At the instance Of
the National Bank of Commerce William
Reynolds was to-day appointed receiver of
the Williams publishing Company. q con-
Germ doing large printing and publishing
business.
MOBERLY. Mo-. June 13.-The Enchange
Bank. of Moberly, which Is the depository
for the city. made q general ASST gnment to-
day for the benefit OF creditors. lt IL be-
lieved payments will be made In full.
RoCKFoRD. ILL.,. June 1s.-The Rockford
Folding Bed Company assigned to-day.
Liabilities. SOC. GOO; assets. S25.0O0.
DENVER. Col. June 13.-The Pioneer
LlthoQraphing Company bas failed. Liza
bilities, S35, ,0G0: assets IS. 500.
Wilson shannon Taggart. q forger of
notes and checks for SIS. 900. who mys-
teriously disappeared from Bellaire. o..
ten months ago. has been arrested In Nir-
Rinis. His father. aged eighty five years,
has been made penniless trying TO pay oH
the forgerieA