The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-04
THE TYLER DANN.
Efforts Making 10 Reorgnnisc with.
out AppoIntInE n Receiver.


Tyler. Texas December 2.--Therc has
been quite commotion in business circles
here since the 30th Of November. which
was precipitated by the closing OF the doors
of the First National bank OF Tyler for
business on that date. This banl; had a
capital stock of $500 900. and did the prin-
cipal business OF the city OF Tyler and
surrounding country It's deposits were
somewhere in the neighborhood OF s250,-
COO. Its officers. directors and stockholders
! included some o. the wealthiest and best
business men in this section OF the state.
| The failure of the bank was caused prl-
marily by the failure OF the City National
bank here on the 10th of October. which
| served TO brighten depostors and caused
them. In one week. to withdraw from the
First National bank over $4,000 in de-
| poelts, which Withdrawals were kept up in
4 quiet way until the bank suspended.
| There Ia now and Will BE- a very strong
effort made to reorganizc the bank and re-
sumo business without tho appointment Of
n receiver. The stockholders and directors
are strongly in favor of this plan. and
great many of the depostors are willing to
cooperate with them. To this end the fol-
lowing petition is now being circulated
among the business men OF Tyler and a
| meeting has been called for Saturday. the
9Th when plans will be discussed Tor the
re establishment OF the bank As this bank
has been for years what may be called the
spinal cord of the commercial community.
the people here feel that it will be almost
inn ossible TO get along without it's resump-
ton.
There have, up to the presert time. bcen
no failures here as result OF tho banks
suspension, and none are anticipated.
To Hon James II Eckcs Comptroller OF
tho Currprcv Wnsbiurtbn. ID
Tyler, Texas. December 2, lS96.--Your
petitioners. all merchants and business
men Of Tyler Teyns respectfully and
earnestly request that you entertain fav.
orably and facilitate In every way within
your power and influence the reorganiza
ton and establishment of the First Ma
tional bank Of Tyler The permanent clos
Ing OF this institution aud winding up Its
affairs by n receiver will result in wide
spread ruin and misery In this city and
surrounding country. In fact. the effect ot
is suspe nsion is already appalling. follow
ing as it does so closely upon the failure
II the City National hank of this place
We have a city Of 1000 pcop'e: 1t is tte
middle OF the season Of our g-eates% com.
mercial activity tthc cotton season. The
First National bank did most OF the busi.
ness of this city aud vicinity. There Is
only one small bank left and It Is alto
gother unequal to the business OF the place
Besides the permanent closing OF the First
National will take from the channels of
trade such volume of I've paper and
funds as will completely parnlyze buslneBs
in our mids; ard drive hund obs intJ hope
less insolvency and 10 ac N want
Your petitioners thcrele,e pray you to
defer appointing receiver until plan
can be perfected by stockholders and ie-
positorS by which the bank may be per-
mtted to reopen. and that you will favor
ably consider such plan.
Plodgng our support to the bank In ITS
Efforts to resume, and after resumption,
we are, very respectfully.