Evening star., 1896-12-29
INABILITY TO REALIZE.
Assets Were Slow and q Small Min
neapOlis Bank Closed.

Assets Were Slow and q Small Min.
neapOlis Bank Closed.
MINNEAPOLIS. Mimi, December ID
The Columbia National Bank, small In
stitution of comparatively recent establish
ment and $2O0,OOO capital, closed its doors
this morning, and Is now in the hands Of
the bank examiner.
According to It's last statement made De-
cember II, 1t had loans and discounts of
$3iS, ,145; United States bonds to secure cir
culation, $4,000; real estate and mortgages.
S4S. 72S; due from other banks, $42, ,e01: cash
reserve. $34, ,672: other cash items. 81. .&2
due other banks. $136,57g: deposits subject
to check. S1O1 ,JO7; certificates OF deposit,
$Ss, ,594; certified and cashiers checks, 3d.
:13; bills payable, $4,000.
Cashier Jos. Bobleter said this morning:
I'VE could have stood the pressure a little
longer, but to protect the majority we
closed this morning. We have $4,000 cash
in the vault, and inside of sixty days ex-
pect to have fully 100000 more collected.
Our total liabilities are only $241 900, and
much of that. you understand. is not i'm
mediate. There is no doubt but what we
will be able to make a full account with
Our deposltors and a fair settlement with
stockholders.
THE recent Withdrawals which caused
the trouble were city and state funds, OF
which We had large deposits, and also by
country correspondents. OF the city ard
state money. only about 81 200 remains in
the bank. The majority Of our Individual
depositors were business men,
The officers are: Chas. Kittelson, presi-
dent; H. Tuberson. vice president; JOS Bob
Letter. cashier: J. c. Kittleson, assistant
cashier.
Among the directors are A. X. T. Teis-
berg and CraIies Janson. The bank Is in
the immediate charge of George Coffin,
deputy controller of the currency He states
officers nf ha ho iaA ha
clearing house committee for assistance
but this body ard the directors of the bank
finally agreed that the best thing under the
circumstances would be to close
Il believe" said Mr.. Coffin, that this ac-
tion was anticipated by all parties interest
ed. and the suspension will not cause any
further trouble. All the national banks of
this city are in very strong condition
by examination
Another Bank Closed.
MINNEAPOLIS Mirn.. December %
Washington bank, a state institution.
closed Its doors today. 1t had a capital of
100000. and by its last statement at the
close of business December II, had $5O7, 1 45
loans and discounts. sl4,22S overdraf.s Sc
cured. $50 l65 in stocks and bonds, s14, 47l
In real estate. and $ss.272 cash on hand
Its deposits were 1916, 1Ss, It's certified de-
posits $112.5S7, bank deposits $S4, ,937
A. c. Haughan, city treasurer, was one
OF the founders of the bank and is one of
its directors. O.. E. Breecke is the cashier
Controller Eekels has received a dispatch
announcing the failure of the Columbia Ma
tional Bank of Minneapolis. Mimi. Deputy
controller Coffin, who is next in rank to
MI. Eckels. happened to be passing through
Minneapolis, and was direct to take tenn
porary charge of the bank. Examiner
COOK was ordered from Chicago to take
permanent charge.
The last report of the bank received nv
MI Eckels was that of October 6, the
hgures OF December II not having reached
here AT that time the assets were s64l 400
put these probably have shrunk since then
me controller ascribed the failure to a lot
OF SLOW assets, on which ready money could
Eot be realized, and he says this has been
the cause of most of the recent bank fail
ures.