New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-17
BANOUE DU PEUPLE'S FALL.
ASSETS ARE SAID TO EXCEED LIABILITIES
BY s20OO.OOO.
IN ALI. PROBABILITY NEITHER SMALL DEPOSIT
TORS NOR NOTE HOLDERS WILL LOSE ANY
rurNG-MoHrREAL FINANcIERs SAY
THAT THE BANK Will. GO INTO
LIQUIDATION: PREsIDENI
GRENIER MORE


,,,,re,, ru,v s-Presdent Jacques Gren!er. OF
,,e p,rou. du peuple which suspended yesterday.
states that II is impossible es yet 20 give n" exact
s,,,c,oert ~ the banks affairs. The Government
lnspector vii. hold Investigation. Inc assc,s
are said ,o exceed 10000 and the Liabilities w.
90 ~ The directors are personally respo's'o'e i''
the liabilities
when the news OF the suspension became KNOWN
last nigh, larze number 81 small depositors gath
cred about the East End branch OF the bank. ana
there was considerable excitement. II Is not nhe'Y
the ,.eposltors Will lose anything. The notes OF 'h@
bank In circulation amount 10 over s'p"l nut 'H"se
,-e guarani.eI by deposits with the Government,
aud The holders will suffer no loss. The bank to-
day f. open for the payment OF notes failing cue
but no payments are going out OF the bank
Mr. Grenier said to-day he believed the bank would
again resume business. The best posted business
men Of II, city, however generally agree that the
bank will go into liquidation at the end OF the time
OF the Suspension. ninety days.
President Grenicr further stated that had other
city banks advanced only $4,000. which was re-
quesied Of them. the bank would have been abe
II Is stated that John Crawford. OF his city. Is
stock: that me arm Of William e. Glendenning are
Indebted in the Of $4,000. and that large sd-
trcal Park aud Island hallway aud Montreal Trad
dollar, Expenditure or banks promises. A million
dollars sdvanc,d by other city hanks has az oeen
Of small aeposors. who have been making a regu-
lar run on tse branches OF the bank in this city.
Quebec. July ls.-CcnsIerabe excitement was
caused here to-day when the news announcing the
suspension OF the Banque du Peuple was made pub
lie The banks Offices were crowded with anxious
deposi,ors discussing the situation. Quebec mer-
chants and mannfactyrers are greatly concerned
being interested to the extent OF 100000 The bank
ers and hnancers are positive that all deposltors
Toronto ont. July l6-Bank managers here say
the failure OF the Banaue du Peupe at Montreal
will not have a. very far-rcsching effect In this
province nor VIII the t2liure aHect Nuna'a III Tic
Englieh market
The Merchants Bank Of Canada yesterday with
drew 100000 In gold from the sub-Treasury In ex-
change for lesal-tenders The gold was shipped TO
Montreal II was said by representative OF the
bank that II was special transaction." In Wall
Street circles It was thought that the withdrawal
was connected in way with the disturbed
financial situetion In Montreal following the sus-
pension OF the Banque du Peuple. OF ttat city, and
that II may be intended to strengthen the other
wSisT Watson agent in mi; eli, Of n, the Bank ak
Peoples suspension that ne did not think the sus-
pension was 50 important as the published dis
ran, o "sf 1n' 70 That matters Would be
Strengthened out satisfactorily
LEGION OF HONOR COUNCIL RESIGNS.
ACTION TAKEN BECAUSE or THE REoRGANIzA-
TIoN FAVORED by THE DEPUTIES
Paris July 1.-THE Council OF the Legion OF
Honor have resigned. In consequence OF the action
OF the Chamber OF Deputies In adopting an inter
pcllation calling upon the Government to Introduce
a bill to reorganxe the Council because OF their
retention OF N. EInel upon the membership rolls
after the disclosures connecting him with the
Panama Canal swindIes.
AS already explained In these columns. the ac-
ton OF the French Chamber was taken. not be-
cause OF "disclosures' connecting NJ Einel with
tho Panama Canal swndles. but on account OF the
sentence passed upon him by the Court. He was
condemned to refund many millions OF francs which
he had received for canal work. machinery and i'm
plem.nts and Witch he was proved to have r.,
the Panama Canal by subscribing 100000 francs
Of Its stock and promising to help IN Other r ways
stricken on the names OF Lcsseps. Jr.. Or. Hers
Marius Fontanes and others who were Einels as
same au,e'fn in regard TO- Ee on the sround that his
connection with the canal company was only a
opinion Of the case. and requested the reorsanixa-
ton OF the Council OF the Legion Of Honor by an
almost unanimous vote, only two voices dissenting.
Won HAMMERSTEIN SAID TO HAVE FLED
OFFICIAL SEALS PLACED ON THE HOUSE OF THE
EXECUTOR OF THE 'KREUz ZEITUNa"
Berlin. July iS--rhs "rageblatt" says that Baron
Won Hammersten. formerly editor-n-chief Of the
"Kreuz zeItuns." has Ned from from, Berlin: taking his
placed upon his dwelling.
Baron Won Hammerstein has Ned probably to
Switzerland, - ne said some weeks he would do II
ne was compelled 10 abandon he sdtorship Of the
"Kreus Zeitung." At the same time he threatened
that he would publish there pamphlet divuigins
fscts which would PROVE q Raxpn Mar