The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-28
BUSINESS EMBARRASSMENTS.
Failures at Chicago and Other Places-New
York Banks to Resume.

CHICAGO. June 27.-The Illinois Fuel
Company confessed Judgment this after.
noon for S43. s07. TIE company owns mines
IN Sangamon county. and has $50. 600
worth of assets against 800. 900 liza bilities.
The Columbian Excursion Company. the
lessee Of the hotels in the worlds fair dis
trict-the Everett. the Costello aud the
BOston-assignod to-day. The company
has number of contracts. the assignee
said, with parties of visitors from the East
who have delayed their coming.
Rina A. Wells. q Wholesale lumber deal
OF, also assigned. The liabilities are not
not known. but it is said his estate amounts
to more than Sl50.000.
NEW YORK. June GA very curious
state of affairs has developed in Phila-
delphis Several of the big banks ere
practically unable to remit to the banks Of
this city the balances due them for remit
tances and Philadelphia exchange 10 prac-
tically at premium to-day In this city.
The Phiiadelphia banks say they are nm,
they cannot get gold or currency 10 ship.
One bank in this city has 5000. 600 locked
MP in three Pbilajelphia banks In that
way. OF course it could send down there
and demand the cash. but is un willing 10
do so. The probability 10 that there will
be larger issue of clearing house certifi-
Gates IN Philadelphia in day or two and
then the balances due in New York will, it
however. business men having drafts on
Philadelphia will not be able TO get credit
for them here except at q pretty large dis
count.
NEW YORK, June 27.-Henry Allen IL Co.
have given notice that they have settled
with their creditors. and have applied for
reinstatement as members of the Stock and
Produce exchanges. The firms settlement
Is on the basis of so cents. cash and the
signing off by their creditors of 80 per
cent. with the understanding that the firm
| will consider this moral obligation and
meet IL Is soon as convenient. The firms
liabilities are S400. 000. and 1t Is said that
| the uEreaiized assets remaining are $780,
600. which: as soon as things improve on
| the Stock Exchange, can be realized on at
| q profit
| SPRINGFIELD. ILL.,. June 27.-The private
| banking Establishment of George p. Har-
| rinGton. Edinburg. ILL.,. twenty miles
southeast of here. closed to-day on confess
| sion of Judgment made by Harrington TO
Reuben Wilkinson. Taylorville. The fail
ure of Harrington. who 10 part owner of a
big gold mine in Arizona. coal mines in CEN
| raj Illinois, and interested In the new Chi
one. involving S225. 900. The failure ia due
to stringency of the money market. large
iy, and Improbable enterprises.
| NEW YORK. June 27.-GOldman brothers.
| cloak manufacturers. have become finan-
| oially embarrassed and the sheriff has
|
| They have been In business many years.
| and their house IS one of the oldest in the
| cloak line in this city. 4 few months ago
| they claimed to be worth SEQ. 900. of W hich
| about S125. 900 was invested in the busi.
| ness. the balance being in real estate and
| securities. In the trade the failure Is at
tributed to dull business and tight money.
Liabilities. S15, 600.
| MINNEAPoLIs. MInn.. June 27-The sus-
! pension of the st. Paul and Minneapolis
| Trust Company Is announced tonight. A
| card from the PRECEDENT says that it's assets
exceed it's liabilities by $500 O00 and that 1t
| will pay in full. The general beliefs that
| it will do so and resume business. Its
president is Ex-Governor Mill. and it's vice
| president is Congressman Loren Fletcher.
| The capital stock Is $500.000
| ASHLAND. KY. June The Second Ma
tiOnal Bank, of this place. has closed its
| doors as q result of the closeness of the
| money market. The bank ia perfectly
solvent but has been forced TO take this
step from inability to realize on paper that
| Is fret class.
| TOLEDO, June 27.-The Toledo Spice
| Company. of this city, made all applica-
| tion for the appointment of n receiver this
| afternoon. Liabilities amount to over S40,-
| OO0; assets unknown.
| CINCINNATI. June 81. - Rennek amp
| Brothers, manufacturers of furniture at
| Clinton. have assigned. Liabilities $40.
600; assets. 100000.