The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-12-29
BANK FAILURES.
Two Small National Banks Close
Heavy Failure at Batavia, Ill.

morning and is now in the hands of the
bank examiner. According to its last
statement made December 1, it had
loans and discounts. $34S. .145; United
United States bonds to secure circuIa-
ton; $50 600; real estate and mortgages,
s4S, ,72S; due from other banks, S42, ,897;
cash reserve, Ss4,S72; other cash items,
$11 5s2.
Ne tional bank notes outstanding.
s45 600; due other banks. Sl36. .579: depOs-
its subject TO check, S101. .507; certificates
of deposit, S63 594; certified checks and
cashiers checks $3,313; bills payable,
$4,000.
Washington, Dec. 29.-Comptroller OF
the Currency Eckels was telegraphed a
notice today that the Commercial Ma
tiOnal bank of Roanoke, Va, closed its
doors and suspended payment. Bank
Examiner Sands was sent to take
charge of the institution. Mr.. Eckels
does not regard the failure as a serious
one. The last report to him, made No
vem ber 25, showed the assets of the
bank to be 1858, 7O4. including its bonds
for circulation; stocks 800 000; surplus.
S25, 600; undivided profits $4,000; owing
depOsitOrs $75,0 600; other liabilities, $35.-
O0O The failure is attributed by Mr..
Eckels i'm part to speculatiOns and boom
specialties in the location.
Batavia, III. Dec 29.-Wm. and John
Van NOrWicks bank did not open its
doors today. Although over 100000 was
taken III yesterday III QGpDHltS AlO tiOu-
BILE was caused or has been created out
side the institution. Something over
S4 900 was paid out yesterday, accord
ing to Cashier Willis l. Grimes, and all
money taken in yesterday and during
the time within the law Will be immedi-
ately paid back, according to the
cashier.
There was no run on the other banks
of Batavia today as a result Of the
closing of the Van Nortwick bank, and
no failures were reported. The Van
NOrtwicks held 464 shares of the Atlas
National bank and the closing OF their
bank here is due to the assignment of
the brothers to the Equitable Trust
company of Chicago.
Cashier Grimes, who was in charge
of the Van NOrtWicks bank, said to-
day that he had no intmatiOn that the
bank would Hquidate until u O'Clock
Yesterday when c.. c. Wilson, repre-
senting the E1quita bic Trust company,
walked into the bank and said he had
been sent down by the company TO take
charge. Deposits were refused during
the last ten minutes of the regular
hours of the bank, though some money
was paid out.
The Van Nortwicks are understood to
have gone to Appleton, Wis, last night,
where John s. Van NOrtwick is pres
ident of one of the principal banks, be
sides being interested with his brother
in the Appleton Manufac curing COM
pany The directors Of the First Ma
tional bank of Batavia held meeting
last night to discuss the outlook ana to-
day gave it out that the First Nauonal
would be able to meet all demands
made upon it today
the firm of Green, Robins & Honore'
who are attorneys for the Van Mort
wicks Of Batavia said today;
s'The assignment was wholly VOlun-
tarv and was due to the desire of
Messrs Van Nortwicl1 to avoid more
serious consequences as a result of the
lquidations of the Atlas National
bank
while L do not know the exact fig
ures for they could not be obtained at
the time the general assignment papers
amount to fully $1.00O,OOO Their LA
bilities cannot possibly exceed 100000
or $500 600 at the most
Batavia. ILL.,. Dec. 29-The liquidation
of the Atlas National bank of Chicago
precipitated the suspension of the Van
Nortwick bank of Batavia, and the as
Signment by VIM. M. and John S. Van
NOrtwick, of all their vast property in
terests, aggregating S2,5OO,OOO to the
EQuitab ble Trust company Of Chicago
Their schedule Of Indebtedness was
not filed with the articles of assign
ment but the liabilities are said to ag
gregate 81. 100000 The Van Nortwick
interests aside from Batavia property
are largely in paper mills along Fox
river. Wisconsin, and manufacturing
industries.
The last statement of assets prepared
a year ago placed their wealth at 81
500 600 They own a business block
idence and two farms in Batavia town
ship. the whole valued at $50 600; also
the Western Paper Bag factories of
Batavia and kaukauna. the largest
concerns of the kind in the world with
u daily output of 2000. 900 bags; also
straw board mill a Batavia, unused.
The paper mills at Appleton. Wis. are
valued at $500 600 They own valuable
pine lands in Wisconsin and have stock
in the old Second National bank of
Aurora. the Aurora Cotton Mills and
the Kaukauna and Appleton banks.
They are principally owners of the
Appleton Manufacturing company of
Geneva, Ill The brothers own AGA
shares in the Atlas National bank of
Chicago.
The Van Nortwick in Batavia had
large clientage. The bank has been
soliciting deposits for some time past,
paying large interest, fact which.
with good business men, gave evidence
Of weakness if not distress Such was
the general confidence of Batavia de-
pOsitors in the Van NOrtWick. however.
that there was no run on the bank. not
withstanding the reports of the trouble
of the Atlas bank and the Van Mort
wick's connection with the same.
WHAT BROKE VAN NORTWICKS.
Chicago. Dec. 29.-AttOrney A. w.
Green. who drew uD the assignment
papers for the Batavia bank, disclosed
the principal cause which led up to the
assignment in an interview today
Aside from the Atlas bank liquidation
the most important factor in the Van
NortWick crash. he said, was the re-
cent failure to dispose of $500. 600 worth
of bonds in the Boston market. secured
by the great combined Lock mills sit
uated on Fox river in Wisconsin. and
valued at 500. 600 in a clear market.
Negotiations for the conclusion of this
deal had nearly been completed when
the National Bank or Illinois failure
was announced. That Immediately put
q stop to the sale of the bonds and the
Van Nortwiclgs were thrown upon their
cash resources
ANOTHER BANK FAILS
Minneapolis. MINI. Dec. 2a-The
Washington bank a state institution
capital Of S1O0, 600 and by its last state
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