The sun., 1893-06-23
HARD TIMES FOR THE BANKS.
SIX MORE or THEM SUSPEND m
SOUTHERN CALIFORNIA.

| with thcir Money Locked Up they CouId
Not Face small rznic-Sna Francisco
| Banks Expect to See Great Exciten.ut
| To.dny-Hnd showing OF the Plnnkinton
| Rnnk-A Keni Estate Failure in Chicago.
| Los ANGELES. Cal. juno 22.-Conldenco has
been restored among local bank depositors
and the exciting scenes Of yesterday wero not
repeated. All tho closed hanks. except the
| City Bank. will oren in n few dnvs. All have
ample assets. but they were paralyzed by the
| insane panic which infected the people.
The influence Of these suspensions wns seen
to-day, when tho First National and the Conn
morcial banks uf Santa Ana closed. and were
speedily followed by the banks in Orange and
Tustin. This leaves the new county OF Orange.
which was partitioned OF from Los Angeles,
without n single bank remaining open. These
banks are declared solvent, but they could not
pay sudden demands of dcrositors.
Tho Peoples Bank Of Pomona and the Bank
OF Commerce of San Diego also suspended to-
day. The latter stood u run OF two days and
then succumbed. Tho trouble with oil the
South California banks is that they have q
| large part OF their coin loaned out on farms
and city property on which they cannot realize.
SAN Francisco. June 22. Tho effect OF the
bank runs insouthern California was felt In
San Francisco to- day for tho first time. There
to-day. but 1t was quickly ended by tho prompt
payment OF all who demanded money
Considerable excitement Is expected to.
morrow, but 1t Is understood that II any bank
Is singled out for attack the others will aid It.
and should this be done the trouble will be
ended quickly.
All the leading savings banks have been add.
ing to their reserve. SO they are well prepared
for any runs.
Tomorrow will see big financial excitement
in San Francisco us It was decided tonight
that tho Pacific Bank would not open. The
Pacific has long been regarded as the weakest
commercial bank in the city. Its President ID
Dr. r NJ. Mcdonald, the Vinegar Bitters
millionaire but it has been managed by his
son.
The bank has COMO into many speculative
enterprises. such as the electric railway Of
Los Angeles, tho Brown colony in Madeira.
and several Arizona irrigation schemes In
which 1t has sunk large sums.
Its suspension will also probably close up
the Peoples Home Savings Bank. an institu-
tion which has made bid for small deposits
by giving little safes for the household.
The manager OF the Clearing House does
not think any other city banks are in danger.
but the conference o. bankers to-day declined
TIpe%Ay. r June 22-The Ridsway Bank.
following notice on its doors:
"SnE 70 ne r nsnSH %ao1
sn ' and shdre m bsns sn"oie % 10 mess obiss.
M a s sx.y & % 'n Ss H. sos.
We believe 10 be excess tho liabilities
sH
given TO tho public as soon as same can be prepared
The notice Is signed by D. G. Oyster. Presi.
dent, and I. D. Bell cashier. 4 gentleman who
.as Se6 dS5pf hs se nfh Ss9sfes :
many 81 whom have all their wealth in the
tSaf Aa Jgns 22n han %nfpa9dsd Ss9
run on that ns!tnti9n 6%n this morning The bank
Taseambia Banking company was arrested
terday and claimed to have sufficient money to
pay depositors, Of the suspended bank. Instead
Which was wa rejected. and his arrest foilowed. Il
Is now thought tH the bank will pay only fifteen
ItiI GEsHSvinIE. EN- tI ju June 22-The City National
Bank Of this city was closed tHis moSSninE By
steady withdrawal Of deposlts and the strin-
Element. tSs depositoTs 'eepersiIy having
perfect confidence that the bank will como out
MIwAuKEE. June pam analysis of tho
Plankngton bank statement filed by Assignee
secured in loans from The bank nearly s4Oo, 900
instead Of $S9O,O9o. OF this nS sum ms S27s 900 WAS
Sanfao E and COPPER Wo Of When he
was President The statement shows that four.
teen firms owe the bank over Sl,00O,0O0. az
t5nppsn S s2esFF2sG dsRDsp Ba,- Ba,
fsHss sS$ Gs$:
hiFIy iISyaukse Brass and Il coppes @orfs. Day
rfI1f Slo9SSY9 hS Sdtes Meysr1 sS5 S5oM:
brothers. ioooo; Richter, shubert, K Dick.
$Si52332: sTifht sho 4 Co. $4,000; sehlessingss
The only security for the Benedict loans 10
forty notes made by q dozen peoGle. the face
value Of which is about SIS; 900. The Lappen
shares Share in in the Hidnir smithine Company and
an assignment I'm in iEact OF Land Gontraef to
Day notes are secured by Dakota lands and
Thirty banks throughout this and other
States were caught in the failure for various
=, BosroN, June 81. 1t was decided to-dayby
national bank it bound by the insolvency law
that prohibits ins3yent d"Stors Rs from from convey.
to create an unjust preference: VI This G ruling
in the tar Pi nna tbs
Traders National Eank VS.. George w. Chip
man. uv
and takcn notes secured by two conveyanceS
of real estate in Medford These conveyances
were made when Hal! was insolyent. although
he did not assisn until Ave months afterward.
The hank clai med the State lnsOlvent law was
In conflict with tho United States law giving Q
naiiona bank right to take and hold prop
cr'y and mortgages upon real property as So
hCHENEcTApY. June 22.-The run on the
Schenectady. Savings Bank ended at noon to.
day. Yesterday lSl depositOrs, nine-tenths Of
whom were Poles. Swodes. and Italians drew
ont little over $4,000 This morning 81, 100
ings Bank il one oi the strongest and most
CON ervativcy conducted Of any bank IN the
state. The semi annual statement. published
on June -. showed that the bank has an actual
surplus, after ray ing every debt. OF over S40,-
600, without including tho real estate. State
Bank Examiner JudSon after a recent exam.
ination of the bank declared 1t to be 'as sound
us any Lank in the Stato.'
FAILURE IN THE COFFEE TRADE