The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-30

| and there is no question but that in time
when all the assets can be liquidated,
there will be money enough for all cred
itors. and some left for the Van Mort
| wicks''
| Lyman A. Walton. secretary Of the
| Equitable Trust company, who was en-
| trusted with the assignment papers Of
the Van Nortwick bank, has returned
| from Batavia. When seen he disclaimed
all knowledge Of the banks affairs.
| Il spent only thirty minutes in Bata-
via" said Mr.. Walton, land did not
| have time to look over the situation care
| fully. The cause of the failure was the
! liquida ton of the Atlas bank. The Van
! Nortwick interests are so large that it
will take some time before the exact fig
ures can be given
MINNEAPOLIS BANKS.
Minneapolis, Mimi, Dec. 2a.-The Co.
| lumbia National bank, small institu-
ton of comparatively recent establish
| ment, and $4,000 capital, closed its
| doors this morning, and is now in the
| hands Of the bank examiner.
| According 70 its last statement, made
December II, it had: Loans and dis
| countsf, $34S, Jas; United States bonds to
| secure circulation $4,000; real estate and
mortgages, SIS, 72S; due from other banks
| S42, S97; cash reserve, 1884, 72; other cash
| items, S11,S52; national bank notes out
standing, 5000; due other banks. $780,,
! 579; deposits subject to checks, S101, 507:
| certificates Of deposit, 1884: certified
| and cashiers checks, 1913; bills payable
| $4,000.
Washington, Dec 29-Comptroller Ec-
kles Ia. received dispatch announcing
| the failure Of the Columbian National
bank of Minneapolis.
DENNY Com Coffin vrho iS MORT
in rank to Mr.. Eckles, happened to be
passing through Minneapolis and has
taken temporary charge of the bank. EX-
aminer Cook was ordered from Chicago
TO take permanent charge. The last
statement of the bank received by Mr..
| Eckles was that of October 6, the fig
ures of December II not having been re-
ceived here. At that time the assets were
900, but these probably have shrunk
since then. The comptroller ascribes the
| failure 10 lot of slow assets on which
ready money could not be realized and
he says this has been the cause of most
OF the recent failures. The suspension
was due to the fact that its clientele. be-
ing the same as that of the suspended
Columbia National and Scandal banks,
became alarmed and began TO draw out
deposits this morning at such rate that
the management decided that the best IN
tel ests of all would be served by closing
the bank. Its condition is most excel
lent. the assets being $500, 900 and the
| liabilities S50000D. There is little real
estate among the former and they can
be quickly converted into money.
Minneapolis, Mimi, Dec. 29.-The
Washington bank, a state institution,
closed its doors this noon 1t had cap
ital stock of 100000 and by it's last
statement at the close Of business De-
cember II. had s507 ,1O4 loans and dis
counts; S14.22S overdrafts secured; s20,-
l65 in stocks and bonds: STATS in real
estate. and SSS.272 cash on hand. Its de-
posts were 1868, 1872; certified deposits
SIP, 5S7; bank deposits SS4.937
a. c. Hagan, city treasurer. was one
of the founders of the bank and was one
of its directors. o. z. Brecke is the
cashier
Minneapolis, Mimi. Dec. 29.-The fol-
lowing announcement was made by the
clearing house committee this afternoon:
the clearing house committee deem It
their duty TO announce that their investi-
cations warrant them in advancing what
ever sum of money may be needed by
the Swedish-American National bank to
meet promptly any calls upon them by
the creditors. This bank has an unusu-
ally large available cash reserve. amount
ing TO about So per cent of its obliga tons.
and its bills receivable are of such class
that we have no hesitation in saying that
we will make them the necessary ad-
vances TO meet all demands and that we
do not look for further trouble among
the banks of this city,
AT ROANOKE, VIRGINIA.
Roanoke, Va. Dec 29.-The CONNER
ciai National bank of this city closed its
doors this morning by order of the di-
rectors. The trouble was a heavy run
on the bank yesterday by the depositors
Oh December 9. J. c. Davenport. cashier,
resigned and his successor was elected.
The matter was kept quiet until Sunday
night when Davenport left the city for
his home in Charleston. West Virginia,
and ii is stated that as soon as this be-
came known a general run was made on
the bank and il was compelled to go to
the wall the officials say that deposi-
tors will be paid in full.
Washington, Dec. 29.-COmptroller Of
the Currency Eckles had telegraph no
tice today that the Commercial National
bank at Roanoke, Va. had closed its
doors and suspended payment Bank
EXa niner Sands was sent 10 take charge
of the institution. Mr. Eckles does not
regard the failure as a serious one The
last report TO him, made November y.
showed the assets of the bank to be
se6S.7e4, including its bonds for circula-
ton: stocks 500. 200: surplus S25 900; I'M
divided profits $1,000; owing depositors
$4,000. Other liabilities amount TO sS5,-
600. The failure is attributed by Mr.
Eckles in part TO speculation and boom
security.
The banks liabilities are about SIS. 900.
while the valuable assets are estimated
to be worth more than double that
amount II. s. Trout, president Of the
First National bank. and T. 7. Fishburl
president OF the Mercantile Exchange
express themselves as being OF the opin-
ion that the depositors will not lose a
dollar, This opinion is concurred in by
business men generally. The paid in
capital stock Of the bank is sleo. 600, and
nearly three-fourths OF the stock IS held
by men OF large means. which VIII furth-
er insure the depositOrs against loss.
WILL FAIL GRADUALLY
Denver. Cole. Dec. CDR. n. H. Dou-
gan, president Of the Carbonate National
bank Of Lsadville has accepted the OF
flee of cashier IN the Bank OF Commerce
in this city Al the January meeting Of
The Carbonate bank a vote will be taken
10 reduce the capital stock and TIE bank
Will gradually 60 into liquidation. II IS
thought that the change viii require
year. bur beto-e the close % 1897 in all
probability. the Carbonate National viii
have passed out OF existence Dr.. Dou-
gan says that the reason For taking this
step is that Leadvilie is no longer & profit
able field for 50 large an Institution as
the Carbonate bank.
ECKLES RESTS EASY.
Washington. Dec. ee.-Com0trolie-
Eckles said this afternoon that he felt
no apprehension over the back failures
which have occurred OF late.
Two mara Sailu-eS tia Ccnuercial