The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-29

oo The Van Nortw!ck interests. aside
from Batavia property are largely in pa
Per mills and manufacturing industries.
Their last statement OF assets, prepared
year ago. placed their wealth AZ $780,
000 They own a business block. residence
and two farms in Batavia township, the
whole tract valued az sIs9.oo0; also the
Western Paper Bag factories OF Batavia
and Kaukauna, the largest concerns OF the
kind In the world, with a daily output OF
100000 bags: also q strawboard mill at
Batavia, unused.
The paper mills at Appleton. Wis. are
valued at $S0o.oea. They own pine lands
In Wisconsin. and have stock in the old
Second National bank. OF Aurora, the
Aurora cotton mills and the kauksuna
and Appleton banks. They are the prin-
cipal owners % the Appleton Manufactur-
ing Company. OF Geneva The brothers
own 464 shares In the Atlas National bank.
of Chicago.
Cashier w L. Grimes. of the bank, when
seen by a reporter declined 70 give a
statement of the banks assets and hahtl-
sties. simply declaring that the deposltors
would be paid in fun. The Van Nortwtcks'
assets. ne said. were ample 10 meet all
liabilities il the assignees took sufficient
time TO realize on the property.
Suspension at Minneapolis.
MINNEAPOLIS, Dec. 2S.-The Scandal
bank. small bank OF this city. with a
capital OF 500. 600. suspended payment this
noon upon advice OF Bank Examiner
Kenyon. II Is officially estimated that the
liabilities of the institution viii aggregate
$500 90. The assets consist largely OF real
estate, and with a reasonable realization
viii net, il is thought, about that amount,
possibly reaching ss5Q 900. The institution
had share OF the state funds. but the
amount was only s3.l5s. The recent fail
ure OF the Minnesota bank at 81. Paul az
fected Ii TO the extent OF sl.io0. President
Sunde made the following statement;
The suspension Is due entirely TO our
inability to realize Oh real estate. In 1892
we were obliged 10 accept considerable Of
this in the form OF security, and the price
has steadily declined ] am in hopes that
sufficient will be realized to pay every
person concerned and l may add that we
hope that the institution will soon again
be placed upon working basis
Bank Examiner Kenyon said he was
quite sure hte loss TO depositors would be
trifiing. He says there is every reason
to believe that with ordinary success the
assets will exceed ali liabilities The
Scandal bank opeGed In October. 1883.
There has been practically little change
an the management since its inception.
The stockholders include II. Sunde, r. Il.
Anderson, OF Madison, and G. 4. Wander
berg. OF this c4ty. II. ]. hJessesvig was
assistant cashier. General surprise was
felt at the suspension, as il was known TO
be one Of tle most conseryatiyely man
aged banks in the city.
Other Firms Stranded.
WEST SUPERIOR. Wis. Dec. 2s.-The
Bank Of Superior. doing business at the
East End, suspended today. An assign
ment was made 10y the directors 10 Henry
s. Butler, who has taken possession. Tns
bank has s25.00o capital and $3.50 surplus.
which is largely tied up in Investments.
A slight run saturday caused the Closing.
Deposits are mostly small amounts. The
Officers Of the bank expect TO Houidate in
fun, unless there is & continual decline IN
assets.
KANSAS CITY, Dec. 2s.-Ths Mccoy
Banking Company, of Independents. 40.
went into voluntary liquidation tooay. ThS
reason given is that It's president. William
Mccoy. IS too advanced in years to man
age IT'S affairs longer.
TACOMA. y. H. Dec. 2-Ths Laconia
Car Company went :nto voluntary insol-
vency to-day The liabilities are $4,000;
assets, $4,000.
BATAVIA. i'll, Dec. 2S-WiIliam M. &
J. s. Van Nortwick bankers and manu-
facturers, made an assignment TO the
Equitable Trust Company. Of Chicago.
This was brought on b. the Atlas National
bank closing. Their property Interests are
heavy. and they VIII pay out IN fun.
CHICAGO. Dec. 2S.-'Fhe Excelsior Ma
chine & Bolt Works Company failed to-
day. Liabilities and assets about $50 oee.
FORT WAYNE. Ind. Dec. 2s.-The re-
tail dry goods firm of A. Frank & CO.
failed today. The FIRMS indebtedness 70
local creditors amounts TO $lo.9e There
IS also q heavy Indebtedness TO Eastern
creditors.
CINCINNATI. Dee. 2S.-Frank Dunno
and Herman Duhme IT.. trading Ia jew
elry as the Duhme Company, have failed.
The concern had issued stock ssuee rs or
gangzat3on four years ag0 amounting to
sisonea. The assets and liabilities are not
known. trut the cognpany's affairs are said
20 be badly involved.