New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-23
RANK FAILURES SOUTH AND WEST.
ONE OF THE EMBARRASSED INSTITUTIONS
GOVERNMENT DEPOSITORY.

ONE OF THE EMBARRASSED INSTITUTIONS A
GOVERNMENT DEPOSITORY.
Knoxville, July oo-The state National Bank closed
this morning. The bank has long been known TO
be the weakest in the city. The withdrawal yeSt"r
day OF $4,000 in deposits more than II could
stand. meeting Of the directors was held last
night An Offer of $4,000 to pay depo-itors, shonld
q run occur today made by other banks, but
was not accepted. When 1t opened for business this
morning a prcciptated, which lasted only
a few moments the bank closed Its doors for
liquidation. notice the door says the bank
will pay deposltors dollar for dollar Stockholders
will also receive So cents on the dollar
1t was feared that the closing of the state National
would cause panic In Knoxville financial
institutions which have heretofore been considered
strong. "A slight made on the City National
Bank which is just opposite the state but here de-
posltors paid in fun. and the soon
There is uneasiness felt here. 1t is
thought the other banks stand the storm.
Louisville, July 22.-The Kentucky National Bank
of this city closed It's doors this morning The capital
stock is 81 900 0C0 paid up. 1t Is thought the bank
win be able to resume business IN a short time. 1t
has been carrying immense amount of paper which,
although gilt edge" could not be- realized on The
bank is the Government depository, and In It's state
Inent published July 10 the Governments deposits
placed at f101 ,73l 81; deposits OF United States
cisbursing officers, $13s .ocs Il. According TO the
statement the amount of cash on hand on July 10
was little s85 600: individual deposits subject
check 1911 695 49, and the loans and discounts
were 81 no ,96G 80. The bank had been weak for
some time and the failure not unexpected
Memphis, July 22.-The Citizens Bank Of Jellico,
Tenn. the only banking institution in this place.
failed to open for business yesterday morning. John
Smith made assignee Assets and liabilities not
known.
Vernon; Texas, July o2.-1hc State National Bank
of Vernon closed its doors yesterday. Every cent
Of money on hand had been paid ont. exrep, ten
cents. before the doors closed. The failure Is due
10 inability TO realize securities. The directors
say that idepoSitoIs will be paid In full.
/, Tnmpnsas, Texas. July 22.-Tlc private banking
house OF j. H. W. Galbraith failed to open It's
yesterday morning. having made assignment to
}. /. Campbell. Liabilities, 10000; assets $780,
600. A on the First National started. but
the concern In u position to Withstand all de-
inands Depositors In Gabr,ith's Bank Will be paid
In fun.
q Topeka, July 22.-Thr First National Bank Of An
thony closed its doors yesterday and posted notice
OF assignment. It, assets are Sl54,OOo and liabilities
$4,000.
-R,ssen, KAN, July o2.-Tbc First National Bank of
this place was closed this afternoon and taken
possession OF by G. VI. Sawyer order of the Con-
troller Of the Currency No statement has been made.
Greeley, Col, July oa.-The Union Bank made an
assignment YESTERDAY mgrnS TO n am s mru
taken to avoid the contingency that might arise should
The bank Is perfectly solvent and not dcpOsilOr Will
lose dollar.
Crested Butte, Col. July oe.-Thc Bank 'f Crested
Butte closed yesterday morning. Their had been
quiet IL for setcral days. II Was decided 10
suspend for time. The assets are $4,000; liabilities.
$4,000.
Tacoma. WASH July ga. G. Tostcr was ap
polluted receiver OF the Traders Bank YESTERDAY Pres
dent Fitch says that the assets Will pay al the Obi
CATIONS and leave large surplus: Henry A. Strong
largest stockholders 1t Is expected the bank viii re-
sumo business soon.
PRESENT TREASURY POLICY TO Re CONTINUED.
Washington, July :2.-secrctary Carlisle after an
Interview with Mr. Preston. Acting Director Of the
Mint. this morning authorized the statement that h.
fully approves TN policy pursued In his absence by
Mr. Preston In Purchasing silver. and that the
policy will govern silver purchases In the immediate
future. This statement sets at the runors that
Secretary Carlisle would. on bis return reverse the
policy Of the Treasury I'm purchasing silver.
Secretary Carlisle entire discretion I'm pur
chasing silver TO Mr.. Preston when he left here on his
vacation. This morning. with the approval. OF
tary Carlisle. Mr.. Preston refused TO purchase 100000
ounces OF silver at 20 cents the London price being
about 90 1-2 cents ounce. This was part Of lot
offered yesterday at 73 cents ounce. and was de
cued and q counter offer made BY Mr.. Preston OF
n e cents an the holder refused accept
Tho total amount Of silver purchased far this month
n shout I 500 900 ounces besides "local- pur
chssee which may byiug the total up to 2.0o00O0