River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1893-08-03

No. nor SUE
an a}l- pead

at Is To be observed that in twenty.one states
and territories there have been no failures OF
national banks viz: In Alaska, Arizona, Arkan-
sas, Connecticut Delaware, District of Colum-
bia Idaho, Indian territory, Louisiana, Maine,
Maryland, Massachusetts, Minnesota, Nevada,
New Jersey, Pennsylvania, Rhode Island.
South Carolina, Vermont Virginia and West
Virginia.
ut is further worthy OF note that no national
banks have failed in Boston, Brooklyn, Phila-
delphia. Pittsburgh Baltimore, Washington,
Buffalo Cincinnati, ST Louis, New Orleans, San
Francisco, Minneapolis. ST Paul and numbers
OF other great commt cial centers, and that but
one has been closed in New York, two in Chi
cago and one in Milwaukee,. The cause OF the
failures in New York ana Chicago were due
largely TO mismanagement as were numbers Of
others. Local scares have caused many OF late
TO suspend. Nine of the banks named were
robbed by officers who are now under arrest
aThe following nation al banks have been au
thorized by the comptroller OF the currency TO
resume business: Gate City national bank,
Atlanta Ca: First national bank, Los Ange les,
Cal; First ma ! onal bank, San Diego, Cal First
national bank, Santa Ana, Cal; First national
bank San Bernardino, Cal; the southern Cali
fornia national bank, Los Angeles Cal; Mer-
chants national bank, Fort Worth, Tex; Sec
ond national bank, Ashland, KY; Capital ma
tional bank, indianapolis, Ind: First national
bank Palouse City, Wash; Washington ma
tional bank, Spokane Falls. Wash +; National
bank of commerce, Provo City, U. t.; First ma
tional bank. Cisco, Tex; Missouri national
bank, Kansas City, Mo.
Many more will reopen. as the majority OF
those recently failed are absolutely solvent and
only closed through unwarranted lack OF
confidence in them, causing disastrous runs.
From the foregoing the comptroller makes the
following resume, showing that when the full
extent of banking in this country is considered
the failures are proportionately small:
Number now in oDeration. ........... 2, 785
Number failed since January !, 1873, lo3
Number reopened .'...' '...''..- %
Number in hands OF bank examiners with
application 10 comptroller for resumption BE-
New YORK, July 29.-R. q. Dun g.
Co.'S review of trade says:
1.-The hardest week yet has left the business
world still able TO rejoice in the soundness and
strength disclosed No banks here or at other
eastern cities and no eastern firms of large i'm
portanoe have gone down, but several banks
failed at the west But through all the strain
the banks of New York have passed without
trouble, and imports of gold have commenced
"From 100000 to 100000 in money has
been sent west every day and a large decrease
in bank reserves is expected, as the treasury
has not been discussing heavily. Chicago has
drawn heavily on New York, but in that and
other cities bank statements indicate credita-
bic soundness
.Grain rose briskly on Monday, but all spec
ulative markets yielded little when tight
money came and the slaughter of stocks.
Wheat closed about cent lower. though west
ern receipts were moderate. Corn is a fraction
lower. as are some hog products Cotton has
declined an eighth though receipts are little
larger and exports smaller than last year, but
holders show great stubbornness in view OF the
large stocks in sight and the closing OF many
mills In other products special change is
reported, though prices tend lower.
MANY wolien factories are closing for q
month or more or indefinitely, because orders
are slack, for while lobbers' orders are about
as usual clothiers still hold on. Fail trade is
said to be not more than a third of the usual,
and many dealers expect 20 do no more than
half the usual spring business. Orders for
boots and shoes are restricted. Shipments
from the cast are IL per cent less than for the
same week last year
Failures during the last week number 1886 in
the United States, against i7l last year and q
in Canada, against % last year. 1t is note
worthy that only three failures were of capital
above s2D0,O0O each and only ninety nine OF cap
ital over 5000 Over fifty banks stopped dur
ing the week.