The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-15
BUSINESS DIFFICULTIES.

HOLIDAYSBURG. Pa, Dec. 14.-The First
National bank Of this place, the Oldest bank
In this section Of the state, and one of the
original hfty-seven banks in the United
States suspended this morning. Two other
banks. at Martinsburg and Williamsburg,
failed as g result of the first failure. The
Martinsburg Deposit bank was established in
1870. COL William jack. Of Hollidaysburg,
IS the president. The bank had capital OF
by Watson, Morrow & Co. 1t was estab-
hshed In 1873. with capital of $50 coo. The
closing OF the banks, 1t is said, was due prln-
cipally to the withdrawal Of the deposits of
the Pennsylvania railroad company ten days
ago. The total of deposits in the three banks
was $3.50, 600. The banks have been distrusted
n financial circles since Sept. Is last. On
that day the private banking house of Gard
ner, Morrow & Co., of this city, failed with
Liabilities of 1926 600 and assets SO far as as
certained, Of $4,000. The intimate relations
existing between the four banks the fact
that they were mainly of1cered and controlled
by the same people, and the additional cir
cumstances that between $50, 900 and SIT, 600
worth OF securities was removed to the First
National bank from the private bank before
It's failure aroused suspicion. The national
bank officers claimed that these securities
were given them for cash balances due on the
exchange of checks.
deed of assignment was recorded In the
Blair county court this evening from the
Mart1nsburg Deposit bank of Martinsburg,
this county to its cashier, VIM. 8. Nicodemus.
me bank was private partnership with a
paid up capital of $25, 900. :. Its assets will
aggregate 5000 900. The Williamsburg bank.
OF williamsburg, this county, assigned to its
cashier, John Clark This bank Is unincor-
porated with paid up capital of $27, 900. It's
merchant rating is SITE, 600.
New York, Dec. 1.-THE firm of W. d.
Rountree & Co. announced their failure on
the cotton exchange this afternoon. Neither
this nor the Collins failure affected the mar
ket.
Edwardsville, ILL.,, Dec. 1.-THE banking
house Of John A. Prickett & Sons, In this
city, suspended today. making an assignment
Chicago, Dec. 1.-THE Flip & Rachart
sash. doors and blinds. made an assignment
bllities, $28, 900.
WALL STREET TALK.
The entire So, 200, 900 issue Of Louisville &
Nashville refunding bonds put ON the open
market the latter part of the preceding week
has been sold to investors in various parts OF
the country. syndicate Of New York
bankers made good thing on the deal, as
they purchased the whole issue at par and
sold out for prices ranging from 102 to los.
Sugar will sell ex-diyidend tomorrow. The
Standard Oil people have been making large
loans on this speciality.
Big -Four earnings for the first week in
December decreased $1,451. Edison Illumi-
mating company shows an increase for Novem-
Der of S39. $780,
President Depew says the Vanderbilts have
not had a controlling interest in the New
York Central since $780,
A break in cotton and some troubles among
the cotton houses attracted some attention
in Wall street, mainly because the market
had nothing else to talk about. The occur
renee in question is a direct result Of a
break in the price of cotton.
That rate of discount in London open mar
ket advanced 7s today, to 3A per cent.
NEW YORK MONEY.
NEW YORK, Dec. 14-Money on call easy
at 1A@2 per cent; last loan, IL, closed at III
az per cent. Prime mercantile paper, 4q5
per cent. Sterling exchange frmer, with act
ual business in bankers bills 81. 86% "a. 81
for demand, and $4.S3%@4S4 for sixty days.
Posted rates. $4.S41s and $4.S71504. 49, Com
mercial bills, $4.S2h. Bar silver, $3.50. Sill
yer certificates, 65ss965Ac.
FOREIGN FINANCIAL.
NEW YORK. Dec. 1.-THE Evening Posts
London financial cablegram The stock mar
kets were idle and duh today. except for
Kaf1rs. Americans sagged all day because OF
the absence of business, and the lower New
York prices. The close was at the lowest
Consols were fiat on the continental demands
for gold.
PLAN UNDESIRABLE.
NEW YORK, Dec 14-Messrs. ]. P. stew.
art, Edward King and Alexander E. Orr, OF
the committee under the trust debenture OF
the Union Pacific railway company, have is
sued a circular to the holders of Union Pa
cific collateral trust notes stating that in the
opinion Of the committee, he proposed plan Of
Reorganization is undesirable.
BANK CLEARINGS.
St. Paul-$ $685., S42. 81.
Minneapoiis-$1, 675 0S4.64. r..
New York-Clearings. s7s 4s7. sss; balances
$4,S41, 64s
boston learings. 49, ,Ss7; balances, g.
CHICAGO MONEY.
CHICAGO, Dec. 14-Money steady. un-
Foreign exchange firm demand, $4.S6A; sixty
days, $4.84.