The morning call., 1893-06-10
BANKS Go UNDER.
No Large Concerns Are
Shaken.
ONLY THE WEAK TOTTER.
And Most of the Failures Reported
Do Not Seem to Be Very
Bad Ones.
Special to THE MORNING CALL

NEW YORK. June 9.-Judge Lacombe of
the United States Circuit Court to-day is
sued an order authorizing a compromise of
the suit of Frederick n. Pauly, as receiver
of the National Bank of San Diego, Cal.
against the Equitable Life Assurance So
ciety.
The bank failed In 1891, and among the
assets was $4,000 policy on the life OF
John w. Collins. the former president of
the bank, who committed suicide. The
company refused to pay this policy on GER
tain grounds.
The plaintiffs state they recognize the
merits of some of the claims of the de-
fendant, and acting on the advice of the
Comptroller of the Currency, have agreed
to accept S17,500 from the insurance CON-
pany. A compromise, therefore, has been
made on that basis.
Judge McAdam appointed Fabius NJ.
Clarke aud DR.. Henry T. Cutter receivers
Of the Casino.
E. F. Sanford & Co., jewelry. have
assigned. Liabilities $4,000, assets
$1,000 900.
MIssoULA, Mont. June &C. P. Hig-
gins Western Bank closed its doors at
noon to-day, displaying formal notice of
suspension. This is private concern and
no statement has been obtained at present.
Stringency in the money market and
threatened litigation preciDitated the
collapse.
The depository is for the city and county
funds to the extent of about $4,000. 1t
owns large interests. Its incorporates
we're promoters of the city of Nilsson la.
From these lands and Improvements they
expect to realize more than double the
amount required for liquidation, after which
business will be resumed. Several small
business firms are affected by the failure.
GALVESTON. Tex. June 9.-Ths Texas
Trading Company, wholesale and retail
corporation, has made an assignment to
W. S. Dorian. Assets, S163,OOO; liabilities,
SS1,S00
ALTON, ILL.,, June 9-The bank of j. E.
Hyatt at Gillespie failed to-day. From in
formation received here it seems that a
run has been in progress for several days
and this caused the failure. Details have
u ot yet been learned.
New ORLEANS. June 9.-The Louisiana
Cypress Lumber Company is in the hands
of receiver, the result of the depression
IN the money market. A suit was filed by
William S. Hopstra of Muskegon, Mich,
to recover S11, ,431 due on notes. The as.
sets of the company nominally are
100000. There is an indebtedness prob
ably of 100000
ELLENsBURG, Wash, June "a notice
will be posted Oh the doors Of the banking
house Of Ben E. Snipes & Co. this morning
that the bank has temporarily suspended
owing to the heavy withdrawal of deposits
and inability to realize on securities amply
sufficient to pay five dollars for one of the
indebtedness.
A run on the branch bank at Roslyn
yesterday precipitated the closing of the
parent in this city.
There is no excitement over the suspen-
sion, and the bank has the sympathy and
confidence of the entire public.
CHICAGO, June 9.-Joseph Higgins. pri-
yate banker. with branch banks in Illinois,
failed this morning; assets $4,000; liabil-
ties not given, There are branches at
Mascoutah. Serento, Gillespie and st. Ann.
The assignment covers all.
Jern berg. Griffin & Co., private bankers,
have failed. The liabilities are $40, 900: {:
assets. S25, ZOO. Jernberg. as a real-estate
dealer, also failed, with assets 5000. 600.
liabilities S151,00O
bia Banking Company closed its doors this
morning. There is no statement
SPOKANE, June 9.-The First National
Bank of Palouse, which closed its doors
Tuesday last, res umed business to-day.