The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-12
BANK DOORS ARE CLOSED
One OF New Yorks solid Installations Sue
combs to Real Estate Security

New York, Aug. 1.-THE following
notice signed by F. D. kilburn. super
intendent of banking, Was posted on
the door of the Murray Hill bank today;
This bank is closed. pending an in
vestigation OF the condition OF its az
| fairs"
The bank is one OF the oldest state in
stitutions in this city. The deposits
amount 10 about 81 .25e.O 900. and il is be
lieved that they viii be paid in fuH. One
reason advanced for the suspension is
! the fact that the bank had &c take
considera bile amount of real estate for
| loans
The Murray Hnl bank was organized
in 1870 1t has been regarded as one
of the strongest of the smaller uptown
institutions. 1t is understood there is
due IFS deposttors about sl.250.000 The
customers of the bank were chiefly local
tradesmen and il had some brewery ac-
counts. The capital OF the bank was
81 900. Mr.. 2. T. Hopkins is president,
and the directors are Rufus NJ. Silver,
John Weier, James Carney, Bernard
Metzger, F. Hopkins and Phillip D;ehl-
Examiner KiIburn gave out a state
ment this afternoon that the cash as
sets of the bank amounted to $4,000,
and s34 900 due from the clearing house.
OF this amount s45 600 at least may be
deducted in exchange for yesterdays
business. Il also has $50. 400 unayaiia-
bic assets in the shape OF bonds of a
brewing company to which the bank
loaned large amounts but which are
said TO be not worth 10 cents On the dol
lar.
The bank has sold s122, 900 in second
amount is hypothetical for loan OF
$4,000. The deposits of the bank have
fallen off $3.50, 900 in the last few months.
Three hundred thousand dollars of the
ss72. 900 which is outside avsila Bile assets
is hypothecated 10 secure large houses
and another loan on the outside OF
$50. 600.
There are 1.254 depostors affected by
the closing OF the bank. Mr.. Kilburn
also said:
Il closed the Murray Hill bank be-
cause it was in an unfit condition. after
consulting with the clearing house COM
mfttee and the board of directors of the
bank. The trouble is, as far as | am
able TO ascertain, that they have not
sufficient money to do business and no
way of raising ii without great sacrifice
1t is my opinion that the depositors will
be paid in full.
Il had a meeting with the directors
this morning and proposed to them that
If they could raise 100000 and put il In
TO the assets. | would allow them 10
continue. i found this impossible and
believing that a further continuance of
business would develop into a worse
state of affairs, L deemed it advisable
to close the bank at once"
Duluth, Mimi, Aug. 1.-THE Security
Bank OF Duluth, capital s100, 900. one Of
the leading banks of the city. closed it's
doors this morning. Heavy with
drawals OF deposits and impossibilfy
Of making speedy collections is given as
the cause. NJ. d. Kenyon, state exam
iner, is in charge. The banks deposits
are in the neighborhood of 5000, 900.
Chicago, Aug. 1.-THE private bank
of L. d. Taylor & Co, successors to
North & Taylor. 959 West Madison
street, was closed today. BY order of
the court the Equitable Trust com
pany was made receiver. The assets
are $4,000; liabilities about 100000.
Dallas, Tex, Aug. I.-Hetherington
and Nelson, dealers in machinery sup
plies. filed a deed of trust yesterday;
la Utilities S3i 49,