The San Francisco call., 1896-12-30
STEADY RUN ON
MINNESOTA BANKS
It Causes Two More Of the
Institutions to Close
Their Doors.
Failure of the Columbia National
Followed by. a Suspension
of the Washington.
There Is Also a Furry at Other
Banks in the City of Min.
aeapolis.

MINNEAPOLIS. MINI, Dec. 29.-The
Colum bia National Bank, whose president
is Charles Kittleson, ex-State Treasurer,
and whose cashier is Joseph Bobleter, also
an ex-State Treasurer, failed to open it's
doors this morning, and George NJ. Coffin,
deputy Comptroller 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 $247. 900, while the
assets, mostly notes, amounted to $45O,O
He said he had no doubt the depositors
would in time be paid in full. The State
is a creditor to the amount of 10000 and
the county about $4,000. The city had
$1,000 on deposit. At the present time,
according TO Cashier Bobleter, there is
$3S, 900 cash in the vault. and 500, 900 will
be collected within the next thirty days.
The Suspension was ordered for the pur-
pose of protecting the majority of the
creditors. The banks capital is 5000, 600.
The suspension of the Scandia yester-
day and the Columbia this morning Gre
ated CONSERVATION among the patrons of
the Washington Bank and such run en-
sued that the bank was compelled to close
its doors shortly after noon. Depositors
drew their checks directly at the bank
and through the clearing house at such a
rate that 1t was apparent that the interests
of all the depositors demanded suspen-
sion of business.
The bank knew that its strength would
be sorely taxed to-day and had made ar
rangements to get $50, 900 in cash, which
would have tided it over safely, but the
money was not forthcoming this morning,
and after vain attempt to stand the
demands Cashier Brecke telephoned Bank
Examiner Kenyon that the officials had
decided to close the bank and asked him
to take charge.
Cashier Brecke stated this afternoon
that aside from the matter of cash on
hand the bank was in excellent shape.
Exactly what will be done has not yet
been determined. 1t is quite likely that
the suspension will be only temporary, as
the assets OF the bank are in such shape,
according to Mr.. Brecke, that its deposit
ors can be paid in full in comparatively
short time and so cents on the dollar
within two months.
In round num- bers the liabilities are
$500, ,0G0 and the assets 5000, 900. or the
latter only $14, 500 is real estate The bank
bad some city deposits, $300D of State
money ard $4,000 OF the county's. The
banks officials are: President, A. G.
Haugen, who is at present City Treasurer;
vice. president, K. S. E. Johnson; cashier,
O. E. Brecke.
The banks loans and discounts are
$507, 145. Its deposits are $45S,000 and its
capital stock $l00 900.
The announcement of the failure of the
Columbia and Washington banks caused
considerable furry at nearly all OF the
other banks of the city. The biggest run
was on the Farmers and Mechanics
Bank. the largest savings institution in
the Northwest, with deposits of over
Sc. 000 600. This bank is said to be entirely
safe. 1t stood constant run of eight
days during the panic of 1893.