The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-23
ne Hally eagle: 4orme December g.

| lcers declined TO make any payment or
| time deposits unless given sixty days
| notice. They said this was not because
| they were not prepared to pay all de-
positors in full, but because they wished
| 10 avoid embarrassment to smaller
| bankers who might not be prepared tc
pay all their depositors at once. and who
| might be placed in an embarrassing po-
sition. The stronger banks were paying
all demands for time deposits.
| ILLINOIS TRUST AND SAVINGS.
| There was a slight run on the Illinois
Trust and Savings bank shortly after II
opened this morning, the similarity OF lis
name and that of the National Bank 81
Illinois having led some depositors TO be-
| lieve that the former was embarrassed
During the run in 1891 President John j.
Mitchell OF the Illinois Trust, gave or
dsrs to pay all depositors VINO called for
their money and was criticized by other
bankers for doing SO. This morning, &c
soon as ii became evident that there was
likely to be crowd in the bank. instruc-
tions were given the tellers to serve the
customary siXty-day notice, but to pay
all depositors who could show that they
wanted 800 Of their money for ieglI-
mate purpose. The result was that the
score or more Of people who had lined "
at the paying teller's window soon dis
appeared. Before the close OF banking
hours, the excitement had completely
died out. the giving of the notice was
sanctioned by the clearing house COM
mttee, and the object was, the Illinois
Trust being the strongest savings bank
in the city, to give the smaller ones the
opportunity to point to its action as ar,
excuse for giving the notice themselves,
which thew did and thus effectually
stopped a run.
The Illinois Trust and Savings bank IS
said to have SO ,010, 0a0 in cash on hand
and was today leaning money instead Of,
as in 1898, calling loans in to meet the
demands of the savings depositors.
The American Brewing, Mating ana
Elevator company, the George A. Weisse
Mailing and Elevator company and
George A. Weisse assigned this evening
in the county court. The assignment Is
of the two companies, which are init
mately connected in business, and that
Of Weisse, were brought into court to-
gether at o'clock. The assignee OF the
American Brewing, Mailing and Eleva-
tor company is the Chicago Title and
Trust company. The George A. Weisse
Mailing and Elevator company assigned
to the Security Title and Trust company
and that is the assignee Of Weisse also
No statement was filed as TO the assets
and liabilities.
The failure of the two corporations
was the result Of the failure Of the Ma
tional Bank of Illinois. The two COM
NAMES were borrowers from the bank
and were indebted TO it when it failed,
to the amount of over a hail million dol
lars AS soon as the failure of the bank
was announced preparations were begun
for the closing up of the business OF the
two companies. The corporations were
both organized through the efforts OF
George A. Weisse, who is president or
the Geroge A. Weisse Mailing and Eie-
vator company, and son-in-law OF
President Schneider Of the Natlonal
Bank of Illinois. TIE American Brew
ing, Mailing and Elevator company IS
the owner of extensive NIL houses on
North Ash avenue which are leased to
the other company and are used by II in
the manufacture of malt. The Amer
can Mailing, Brewing and Elevator
company has large brewery adjoining
the malt houses, and the two are closely
related in business, one buying and SELL
ing to the other.
Judge Horton, earlier in the day, ap-
pointed a receiver for the general con-
tracing firm of Angus & Gindele on the
application of John Angus, one OF the
members or the nrm. Inc assets OF the
concern were placed at 100000 and the
liabilities at $250,0O0. An answer was
filed to the bill by George A. Gindele,
the other member of the firm, consent
ing to the appointment of receiver. Ac-
cording to the bill the National Bank of
Illinois, which failed Monday, loaned
the firm $3.50, 900, and the suspension OF
that institution has nearly destroyed the
credit of the contracting firm, so there
was nothing left but an application to
court for relief. The assets of the part
consist principally Of real estate,
notes, accounts receivable, and contracts
for completion of public works, elevated
railroad construction and the erection Of
buildings.
Boston, Dec. 22.-Boston banks, 1t Is
learned, have about 5000 900 locked up in
the National Bank of Illinois, which sus-
pended yesterday morning. The bal
ances kept in Chicago were much larger
than those held in any other western
city. as Chicago is known as the ere
serve city" The bulk of the western col
lections by Boston banks were made
through the First National bank Of Chi
cego up to within a year ago. but were
at that time transferred to the National
Eank Of Illinois. Boston bankers ex-
pect to receive all that IS due them.