The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-29
MORE BANKS BREAK
TROUBLES OF CHICAGO AND THE
NORTHWEST CONTINUE.

and Paying On Depositors, Partly A. .
Result Of the Failure Of tho National
Bank OF IHinois-EckIes 10 Hopeful of
tho Neutrality-suspicious. In Minneapolis
and West Supsrior-Other Failures Of
the Day.
Chicago, Dec. 29.-Partly as result
Of the failure Of the eBank of Illinois
last week, the Atlas National Bank be-
gan paying off its depositors today, thus
marking the first step in the retirement
Of that institution from business. No
deposits were received and as fast as
were paid in full and their books taken
up.
The Atlas suffered heavily from the
runs occasioned by the closing of the Ma
tional Bank Of Illinois, deposits aggre-
eating $500, 900. having been withdrawn
last week. This and the fact OF grad
ual shrinkage of deposits extending over
a long period Of time, brought the re-
sources of the institution down TO law
figure, and it was decided to retire from
business.
The clearing house committee, at the
request of the officers of the bank, made
and investigation of its accounts, with
view to allowing the doors 70 close with
out loss to the public, and the bank was
found to be solvent. To expedite IL
ouidation SO far as the creditors are
concerned, the committee pledged the aid
of the Associated Banks of Chicago.
Vice-President c. 3. Farwell said to-
day:
After the depositors have been paid, I
believe that the shareholders will receive
large percentage Of their interest, If not
every Dollar"
The Atlas is a comparatively young
bank. 1t was organized in 1887. Its
statement of December II showed sur
illus of $4,000, and undivided profits
of $4,000. The statement also showed
deposits Of s1,S60,000, bills payable to
tie amount of 100000, loans and dis
counts Of $1941 900 and cash $500,
The deposits six months ago amounted
to s3,50o,O00.
ECKLES HAS HOPES.
Washington, Dec 29.-Comptroller Eek
les said today that the closing of the
Atlas National Bank of Chicago was en-
trely voluntary affair and that the in
formation he had received indicated that
all the bank creditors would receive pay
ment in full: that no one could lose any,
thing by the hanks liquidation. and tina.
affairs would be settled very promptly.
He had no details concerning the mater
and the last reporc of The bank naturally
showed such a different state of affairs
than the banks condition at this time
that it would throw no light on the pres
snt state OF the banks finances. MIR.
Eckles said the creditors of the Atlas
Bank would be paid in full at once
through advances by the Chicago clear
I; .:.-:A
holders eventually would realize 100 per
cent, thus losing nothing or what they
had put in.
GONE DOWN IN THE WRECK.
Batavia, ILL.,, Dec. 2S-William NJ. and |
]. s. Van Nortwick bankers and manu-
facturers, made an assignment to the |
Equitable Trust company, of Chicago. |
This was brought on by the Atlas Ma |
tional bank closing. Their property in |
terests are heavy and they will pay out |
in full
GIVES CHARITY A BLACK EYE.
Chicago, Dec. 29.-Chicago's fashiona- |
BILE folks may not dance for charity's |
sake at the Auditorium on the evening |
Of January 10, 1897. 81 cannot say that |
the plans for the charity ball will be |
3 baEdoned," said Mrs. Orson Smith, |
chairman of the executive committee. |
1T is true that business disturbances /
have retarded our plans somewhat The
ball viii probably not be given on the |
night once set, but we al hope that there |
will be a ball. AT any rate. those de-
pendent viii not be permitted TO suffer-"
WEST SUPERIOR AGAIN.
Milwaukee, Wis, Dec ga special to
the Evening Wisconsin from West Su-
Derior, says: The Bank of Superior, do
ng business at the East End, suspended |
Today on account of a run which they |
we're threatended on account OF the re-
cent failure. An assignment was made
by the directors TO Henry S. Butler, who
has taken possession. The bank had |
$4,000 capital, and $500 0surplus, which
vas largely tied up in investments. The
pig proportional deposit Of 800 900 was
constant menace, and slight run was
Saturday. which influenced
he closing of the institution. The de-
,osits are mostly in small amounts. and
he bank expects 10 be able 10 liquidate
n full unless there is continual decline
n assets. The city of Superior has slS,-
10 in the bank, making nearly $50, 600
ost by the city during the past week
West Superior, Wis, Dec 2s-The
Sank of Superior, which suspended to-
lay, was capitalized at SIS. 900, and had
5000 surplus. Its deposits at this time
we're about 100000. and the city, as u.s.
ial, is caught in the affair, for about 3d.
$4,000. The bank was organized In
$50.
MINNEAPOLIS FAILURE.
Minneapolis, Mimi, Dec. 2S-The
Scandal, small concern of this city,
With a capital of $50, 900, suspended pay
nents this noon upon the advice of Bank
examiner Kenyon. President Snyde
avs that he believes the creditors will
'ventually be paid in full. According
o the last report the bank had resources
mounting TO s432, 900. The time and
emand deposits amount 10 over $780,
90. The suspension is due TO the ina
'ility 70 realize on the securities, con-
listing mostly of real estate.
JUST QUITTING BUSINESS.
Kansas City. Dec. 2S-The Mccoy
,anking company. Of Independence, Mo,
vent into voluntary liquidation today in
compliance with an order made al a
meeting OF the board Of directors held
n December %. The bank refused 10 |
eceive deposits this morning and began
aging the depositors in fuI. The reason
iven for the bank going out OF business
; that its president. William Mccoy,
: too advanced in years TO manage its
fairs longer. The capital stock Of
he bank is $4,000 The banks de-
osits amounts TO about So. 900 and il has
loans Of $4,000.
TO CO RE A COLD IN ONE DAY
AXE Laxative Bromo Quinine Tablets.
II druggists refund the money il IL !