The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-08-07
ANOTHER COLLAPSE.


1t is no pleasure for us to chronicle
the misfortunes of others. We have no
papers grossly misrepresent existing
conditions; and do it for unworthy mo-
tives, to-wit: to show that the destruc-
ton of one-half the metallic money of
the world may be followed by prosperity.
Hence we feel that the truth should be
known.
1t really looks as if another panic was
near at hand. Read these items:
Salisbury, Mo-, July 3o.-The Bank of
Salisbury closed it's doors this morning
The shortage is unknown.
Cleveland, Aug 1.-The Bedford Chair
Company, of which ex-Congressman A.
V Taylor is president, made an assign
ment today to Solomon S. Drake, of Bed
ford Assets, $4,000; liabilities, $4,000
Later Mr.. Taylor made a personal as
signment for the benefit of his creditors.
Liabilities and assets are not stated.
Rockford, ILL.,, July 31.-John Farson
of Chicago, was today appointed receiv-
err for the West End Railway Com
pany on foreclosure proceedings institut-
ed by the Title Guarantee and Trust
Company, of Chicago. It's capital stock
was $4,000.
Ironton, Ohio July 31.-W. L. Bick-
more, dry goods dealer, has assigned to
Lot Davis. The assets, $4,000; the liza
bilities, $2O,OOO Local banks and East
ern dry goods firms are the principal
creditors.
Des Moines, Iowa, July 31.-The Des
Mones Equalizer Company, manufacture
ers of fertilizer, made an assignment to-
day for the benefit of creditors to James
Belangee. The assets are $4,000, the
liabilities $4,000.
Louis F. Lyons, wholesale liquor deal
err, failed today. The sheriff took pos
session of the stock on his landlords at
tachment in favor of w. G. Gruss. The
liabilities are not given.
Pittsburg, Pa, July 31.-The Hamil-
ton Savings Fund and Loan Association,
with a capital stock Of 100000 900, was
closed today by the state bank eXamin-
ers and the Union Trust Company of this
city placed in charge as temporary re-
ceivers. The liabilities, according to the
officers of the association, are but $4,000
and the assets $11, 900. The association
is a national concern but the depositors
are believed to be all local people, mostly
workingmen. The books show about
1000 shareholders.
Denver. Colo, July 30.-Joseph T. Tai
bert, national bank examiner for the
district of Colorado, arrived in Denver
today and took charge of the affairs of
the Union National Bank. 1t is thought
the examiner will be in position to pay
a considerable dividend to depositors at
the end of eight or nine days. There was
upwards of 100000 cash in the vaults
when the doors were closed yesterday,
and in addition considerable sum IS
due from other banks, which will Of
course be collected. 1t is stated with en-
phasis that the bank will pay dollar for
dollar without having to make levy on
stockholders. The city has $25,OOS in the
bank, the county about $1,000 and the
state about $4,000.
San Francisco, July 31.-A local paper
saws the Central Pacific railroad COM
pany has temporarily avoided receiver
ship by making arrangements with the
foreign bondholders to extend the time
of payment on the bonds now due three
years.
This transaction is made to explain
the action of the board of directors in de-
claring a dividend of IL of per cent
this month Sir Rivers Wilson, the rep
resentative of the English stockholders,
is said to have engineered the DEAL when
he visited this country few months ago,
by harmonizing the differences existing
between the stockholders and the bond
holders.
Blair. Neb., July 31.-The hardware
house of J. H. Stewart was closed at noon
today by the Blair State Bank, which
has virtually carried the business for
some time. The failure is estimated at
between SAC, 900 and $4,000. A warrant
was also issued this afternoon for the
arrest of J. II. Stewart, charging him
with forgery. He some time since got
$4,000 from Charles McNemy and gave a
note upon which the name of Grant
Stewart appeared. Grant now claims
that it is not his signature. The failure
is not altogether surprise to the Blair
people. as it has been known for year
past that it's financial affairs were some
what mixed. J. H. Stewart will prob
ably not go to Jail as it is more than like
ly that he can give satisfactory bond.
West Superior, Wis, July 27.-(Spe-
cial.)-The directors of the Superior Ma
tional Bank today decided to go into
liquidation and President Alvord was di-
rected to turn the assets and business
of the bank over to the National Bank
examiner. The bank has never recov-
cred from the shock of the Cadwalder
affair three years ago and Mr.. Alvord has
not been able in the face of the continu-
ed depression to put it on paying basis.
The statement prepared in response to
the call for statements from the National
banks made July II shows that the bank
has ample margin to liquidate it's liabili-
ties. It is expected that the bank exam
liner can within very short time pay rs
per cent of the deposits and that the full
liabilities will be met from the paper,
amounting to $4,000. The liabilities,i in
GLIDING the circulation, are $141,300 and
the assets $275,OO0, of which $4,000 is
cash. $4,000 United States bonds and
premiums and $37, 900 real estate, build
ing and fixtures.
West Superior Wis, July 30.-The
keystone National Bank closed it's doors
this morning. 1t was considered one Of
the strongest banks in the city The i'm
mediate cause of the trouble was the
closing of the Superior National Bank
last Saturday which caused a run on the
keystone National. The Superior Ma
tional Bank was the one founded by Cad
wallader who, about two years ago, ap-
/ propriated to himself about $65 900 and
fed to Brazil, whence he was brought
back, and is now serving a term in the