New-York tribune., 1896-12-30
MORE BANKS GO DOWN.
THE COLUMBIA NATIONAL AND THE WASHINGTON
SHUT THEIR DOORS-THE FAILURES
START 4 FURRY.

Minneapolis. Dec. 2s.-The Columbia National
Bank whose president is Charles Kittieson, ex-
State Treasurer. and whose cashier Is Joseph
Bobeter also an ex-State Treasurer failed to open
Its doors this morning. and George NJ. Coffin. Dep
uty-Controller of the Currency, who happened to
be in the city, took charge. Cashier Bobleter said
that the liabilities. not including the capital stock
etc. and including principally deposits. amount in
round numbers to s2i7oCO. while the assets. mostly
notes amount TO $4,000. He said that he had no
doubt but that the depositors would III time De pau
i'm full. The State Is creditor TO the amount OF
$4,000 and the county to about 5000 Inc ci'E hdo
81 200 on deposit. At the present time. according 10
Cashier Bobleter. there Is $500 cash In the vault
and 10000 will be collected within the next thr!
davs The suspension was ordered for the purpose
Of protecting the majority OF the creditora Inc
banks capital is $4,000.
The suspension of the Scandia yesterday and the
Columbia this morning created CONSERVATION
among the patrons Of the Washington BANK aid
such a run ensued that the bank was compelled 20
close its doors shortly after noon Depostois drew
their checks directly at the bank and through the
clearing house at such rate that IL was evident
that the interests OF all the depositofS ceiah"''
suspension of business. The bank knew tnat its
strength would be sorely taxed to-day. and he'd
made arrangements to get 5000 In cash which
would have tded IT over safely. but the money was
not forihcomirs this morning. and after vain
attempt to stand the demands. CASHIER brecke
tccphoncd Bank Examiner Kenyon that the OIL
cials had decided 10 close the bank. and asked
him to take charge.
Cashier Breck, -aid this afternoon that. aside
from the matter of cash hand the bank was In
excellen, shape. Exactly what will be done has not
vet been deter ninci 1t il likely that the suspension
will be only temporary, as the resources OF lhe
bank are such shape according TO Mr. hfocNe
that its deposltors can be paid in full in COM
paratively short time and 50 cents OH the dollar
In
are 500 600 and the assets 100000 OF the latter only
sla 200 T. real estate The bank had some city de-
posits 50 900 of State and $4,000 OF the county =
The bank officials are: President. A. c. Haugan. wHo
Is at present Ci;y Treasurer: vice-president h > T.
Johnson: cashier O. T. Brecke Tho banks loans
and discounts are l45 Its deposits are A'Se"
and its capita. stock IS 100000.
The announcement Of Tie failure OF the Columbia
and WASHINGTON banks caused considerable hurry
at nearly al. o. the other banks OF the city' IN"
biggest run was the Farmers and Mechanics
Bank the largest savings institution In the North
west. with deposits Of over 100000 THIS oanK j.
said to be entirely safe. !, stood constant Tu" o'
eight days during the panic OF 1895.
The correspondent in New-York OF the Coiumoia
National Bank OF Minneapolis. was tho hanover
National Kank the ca ASHER Of which, William
Halls said: The Columbia Bank failed because II
could 70. borrow money. The day after the iAi'"'c
If the Bank OF Minnesota 1t asked us Tor money
and 1. askci Is again the next day, but we s|
fused The banks account with us nad peeh u' :,
clln!rg tor FIVE months, and We kne" !, W., ""fN
TIE correspondent, in NrwYori Il the Ndoh.ns-
tor BANK OF Minnea polls. WAS the Sranu"i" ~
Nsnr Nonai ..he Wssf.imsion Iiank was no;
strong II u 500. which ~ por'"N,u IN.
days ago We hold slicoo in collateral against me