The Indianapolis journal., 1893-05-15
LOOKS WELL FOR THE CAPITAL.

More Cash In Its Vaults than Reported-Mr.
Packard-s Expectations.
National Bank Examiner Packard. who
is IN the city assisting Special Bank Ex-
nmIner YonDg In STRENGTHENING out the af-
fairs of the Capital National Bank. was
seen at the Denison Hotel last night, and
said, when asked about the situation:
Mr.. Young and myself finished counting
the cash on hand or available at the Capital
Bank about II O'clock Saturday evening.
and we found it TO be very material sum
over and above the sum stated to us by the
officers of the bank. Their statement was
that they had about $4,000. and we found
it TO be as i said q very material sum above
that. The directors of the bank are now
perfecting arrangements whereby the
its business as soon as the
Chemical Bank, of Chicago. opens its
doors. It is the policy of the Controller of
the Currency to assist national banks
whenever it is In his power TO do 80, and,
should our report of the condition of the
Capital Bank be- as favorable as we now
anticipate. it will only be q matter OF q
telegraphic order for 1t TO resume. 1t is
almost settled that the Chemical will re-
snme, and thus probable that the Capital
will also. to day received teIegraphlc
order from Deputy Controller Tucker TO
remain in the city until the investigation
had concluded and to assist Mr.. Young all
that i could. and L shall DO so. for aIi
sDat know now we will have that inveo-
tigatIon completed III o few days, and the
bank will then 0e ahIe to go ahead. make
these statements In justice 10 Preslcent
Wilson and Cashier Doberty. and must say
that they have a very cheerful feeling
about the outlook. Tho whole situation
over the country seems to be ensing up.
and the market Is not as tight as It was
few days ago. The same Is true OF the sit
uation In this State The remark was
made concerning the little banks IN the
State that had gone under. and he
answered it by saying: "Ob; they are all
private concerns of this man Dwiggins.
His Columbia bank is rotten TO the core,
and it Is not surprising that IL has reached
it's present condition"
Mr.. Packard said that Mv. Young. who has
been bank examiner for the past eighteen
years. is very much surprised at the vol
ume of business done by the Capital Bank.
he said that IL had over 100 correspondence
in the State, beside having large outside
business.
A gentleman CLOSELY connected with the
affairs of the Capital Bank said yesterday
that IL was almost an absolute certainty
that 1t would resume business He said
that the directors were making arrange
ments, as soon as the bank was able TO get
It's $4,000 from the Chemical Bank. TO
throw enough money into it TO pay of all
obligations and restore tho confidence of
the public in it's stability. There will be
meeting OF the directors this morning
looking to that end.
Runs Successfully withstood.
, There was little talk yesterday about the
hotels concerning the financial finrry over
the state. 1t was evident from the indif-
ference shown that the feeling was one of
real stability in spite of all that has been
done and said. A representa- of the
Gas City Bank who was at the Bates yes
terday said bis bank had O heavy run Sat-
urday, but was able TO stand the strain
very satisfactorily. The officers of the
bank directed shat the bank be kept open
until O'clock ct night. in order that those
who were standing waiting when the time
for closing came could draw their money.
The bank announces that it will con-
tinue business, and that all checks Will he
hOnored. The bank ut Jonesboro also had
a run, but successfully met all demands.
There was manifest return of pnblic con-
fdepce by the time the banks closed, aud
many returned TO deposit the money drawn.
The Clay County Bank.
Special 20 tho Indianapolis Journal.
CLAY City. Ind, May 14.-Owing to the
failure of the Columbia Bank of Chicago.
the Clay County Bank. at this place. is
temporarily embarrassed for ready funds.
The Clay County Bank has cashed several
thousand dollars worth of pension checks
and remitted them to their New York cor
respondent and the failure of the Chicago
banks. together with the Capital National
at Indianapolis. has made it impossible for
the Clay County Bank to cash it's New
York exchange. Under the circumstances
the directors of the bank thought best to
not accept deposits for few days and TO
settle with depositors with the banks &C.
cured paper. The deposits amount TO S22, =
BOO. TO meet which the bank holds nearly
$4,000 worth of good paper. The bank has
had no loss and is absolutely sound, but
temporarily embarrassed. The principal
depositors here ex press the belief that the
bank Will be all right. and that the de-
poeltors will lose nothing. Some of the
deposltors are settling with the bank. TAX
ing secured notes held by the bank. Others
are satisfied 20 wait for the bank TO resume
payment confident that II will be done IN
q very short time. The officers and direc-
tors openly assert that they will be able to
meet ali demands.