St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-30

National Bank of Eau Claire, the Bank
of Eau Claire and Chippewa Valley
bank at the close of banking hours had
taken in more than was paid out. These
banks are backed by the wealthlest men
in the civ. md the utmost confidence is
expressed in them.
CORTLAND. Ure., July 29.-The Com
mercial National bank. the Ainsworth
National and the Portland Savings
withdrawals of deposits. The Com
mercial National paid out Sl50,0OO.
There was a run OH the First National
this morning, but all demands were
promptly met and sufficient cash is said
to be on hand to keep paying out for a
week, if necessary. The suspended in
situations are all said to be solvent.
AT p. M, the closing hour. the ex-
element had subsidized, and the with
drawal of deposits at the other bank
ceased, while the business houses were
Betwecn the noon hour and the closing
Tune deposits greatly exceeded the
Withdrawals. d. p. Thompson was
appointed receiver of The Portland
savings bank this afternoon. A state.
ment of this bank shows resources
81. 955. 900, which is considered con-
servative estimate. The liabilities are
placed at 81, AIS, 900. During the last
sixty days there has been a shrinkage of
s6OO,0OO, while 100000 has been with
drawn from the Commercial National
bank during the same period. The
Commercial National paid 100000 yes
terday.
AKRON, Ohio, July 29.-The Citizens
Savings and Loan Association of Akron
closed Its doors at 1880 this morning.
Inc cause given was constant drawing
upon resources by drawing out of de-
posts. The capital stock is 100000,
with $4,000 surplus. The company was
organized and Incorporated in 1872. The
suspension created no surprise in AkrOn.
hANKAKEE, ILL.,, July 29.-The First
National bank, of this city, failed to
open this morning. A steady with
drawal of funds and inability to realize
on paper were the causes. The assets
are sufficient to pay depositors in full.
The bank was organized in 1901. Emory
Cobb is president and Ii. G. Clarke
cashier.
HAMILTON, July 29.-The McNeale
4 Urban Safe Il Lock company, one of
the oldest safe firms in the country, has
assigned to Howard Douglass, of Gin
cinnau. Assets, 100000; liabilities un-
known. The firm had been unfortunate
in several large contracts, but it Is
claimed it is solvent.
WALTHAM, Mass, July 29.-AlI the
American Waltham Watch company
t0remen were interviewed by President
Fitch today, and given Instructions as
to reducing their working forces. In
some cases this will be cut down of
80 per cent, and in all there will be 1900
hands thrown out of work Indefinitely.
vi the hands retained. large number
Will have to work for reduced pay, Is
per cent being cut off in some instances,
1t is said. Letters received today from
the Elgin factory report the situation
even worse there than in Waltham.
There will be LOGO watchmakers dis
charged there OH Aug. l, and the pay
roll of 100000 week will be reduced
about one-half. There are 800. 600 move
mentS in stock there, valued at $780,
600. The concern IS all right financially,
having surplus on hand of 100000
of undivided profits. In the discharge
of hands. So far as possible. those will
be retained who have families depend
ent upon them for support, and the
ones discharged will be taken OH again
whenever the business prospects shall
brighten sufficiently to warrant it.
HELENA, Mont, July 29.-The Citi-
Zens' Stock Growers National Bank of
Miles City closed today. Its assets are
said to be far iii excess of its liabilities.
Stringency of the money market is
given as the cause. The First National
bank of the same city has all its de-
posits guaranteed by committee of
business men, and it is thought will be
able to keep open.
MANCHESTER, N. H.. July 29.-Dis-
closures todoy tend to show that Cash
Ter MOrrell knew the worst, and ran
away rather than face the music. A
director stated this morning that in
addition to the $50, 900 worth of doubt
full paper which has been thrown out
of the Derrytield Savings bank, there is
from Sl0,0uO to SIS, 900 due depositOrs. 1t
is now thought that the deficiency in the
Burne stated today that Mr.. Moore's
name is on paper largely in excess Of
the limit allowed by law.