The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-12-30
Suspension Of the Columbia National
and the Washington State Banks,
Both Small Concerns.
ILLINOIS FIRM HIT HARD
FAILURE OF THE VAN NORTWICkS
PRIVATE BANK AT BATAVIA.
Held aga Shares I'm the Atlas National
of Chicago. and Were Interested
in Many Enterprises.

MINNEAPOLIS, Dec. 29-Two banks
closed their doors here to-day-the Column
bia National and the Washington, the lat
ter organized under State laws. The for
mer, which is a small institution of COM
paratively recent establishment and $780,
600 capital, is now in the hands of Deputy
Controller Coffin. According to its last
statement, made Dec. II, it had loans and
discounts of 1884, 145; United States bonds
to secure circulation. $4,000; real estate and
mortgages. $iS,72S; due from other banks,
$42, Ss7; cash reserve, $34.612; other cash
items, $ll,S2; national bank notes out
standing, s45. 600; due other banks. S136.570;
deposits subject to check, $l01, ,5O7 certifi-
Gates of deposit, s63. .594; certified and CASH
ier's checks, 1888; bills payable, $4,000.
Cashier Joseph Bobleter said this morn
ing: I'VE could have stood the pressure a
little longer, but to protect the majority
we closed this morning. We have S33 900
cash in the vault, and inside of sixty days
expect to have fully 100000 more collected.
Our total liabilities is only s247,OOO, and
much of that you understand is not imme-
diate There is doubt but what will
be able to make a full account with our
depositors and a fair settlement with the
stockholders. The recent Withdrawals
which caused the trouble were city and
State funds, of which we had large depos-
Its, and also by country correspondents.
OF the city and State money oniy about
s11 200 remains in the bank. The majority
of our individual depostors were business
men.
The officers are: Charles Kittleson, presi-
dent; II. Tuberson, vice president; Joseph
Bobleter, cashier; j. c. Kittleson, assistant
cashier Among the directors are A. *.
Teisberg and Charles Jansen.
Deputy Controller of the Currency Cof-
m VINO osers is in of charge
to the clearinghouse committee for
assistance yesterday, but this body
and the directors of the bank finally agreed
stances would be to close. Il believe" said
Mr.. Coff1E, that this action was antici-
suspension will not cause any. further
trouble. All the national banks of the city
are in a very strong condition financially,
as we have satisfied ourselves by examina-
The Washington Bank, of Minneapolis,
State institution. also closed its doors
its last statement at the close of business
Dec. II had 500, li5 loans and discounts,
sl4,22S overdrafts secured. $50. los i'm stocks
/ cash on hand. Its deposits were $3i6, l53,
| it's certified deposits $1l2. 1857, bank deposits
sS4,sS A. c. Haugan. city treasurer, was
| one of its directors. o. E. Breeck is the
| cashier. The suspension was due to the
fact That the banks clientele, being the
| same as that of the suspended Columbia
National and the Scandia Bank became
alarmed and began to draw out deposits
| this morning at such rate that the man.
| agement decided that the best interests of
| all would be served by closing the bank.
| The condition is most excellent, the assets
| being $600.000 and the liabilities $500, 600.
| There is little real estate among the for
| mer and they can be quickly converted
| into money.
The following announcement was made
| by the clearing house committee this after
noon: THE clearing house committee
| deems IL their duty to announce that their
| Investigations warrant them in advancing
whatever sum of money may he needed by
| the Swedish-American National Bank to
meet promptly any calls upon them by de-
| positors. This bank has an unusually large
| available cash reserve, amounting to about
| Go per cent. of its obligations, and it's bills
| receivable are of such "a class that we have
| no hesitation in saying that We will make
| them the necessary advances TO meet all
| demands ana that we do not look for fur
| ther trouble among the banks of the city,