The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-23
THREE FIRMS CARRIED DOWN.
TWO CoNTRoLLED by s0N-EN-LAw
OF ILLINOIS NATIONALS
PRESIDENT.
BANK DOORS OPEN BEFORE HOURS.
Fear of Deposftors as to Savings
Satisfied without Dfffc ulty.-In-
crease I'm Receipts.

the American Brewing. Mailing and
Elevator company, the George A.
Weisse Mailing and Elevator company
and George A Wefsse individually, all
of these being due to the collapse of
the National Bank of Illinois, and small
runs on three banks were the echoes
today of the bank failures Of yester-
day.
Runs were made on the Garden City
Banking & Trust company, the Hiber-
MAN Savings bank and the Illinois
Trust and Savings bank, but. none of
the runs was Of much Importance. The
officers of the Garden City Banking
and Trust company had expected that
q run would be made upon their insti-
tuition and were ready to meet it. They
threw open the doors Of the bank an
hour earlier than usual, as they said
they wanted to get the run out Of the
way, SO that they could transact their
usual business without being disturbed.
Quite a crowd of depositors had gath
cred at the doors before they were
opened, and as soon as the bank was
ready for business the depositors gave
the paying tellers all they cared to do.
an hour and then died away. At the
close Of banking hours the officers Of
the institution announced that during
the day the amount of money taken in
was treble that paid out, and the bank
was declared to be in better shape than
at the opening of the doors in the
morning
The run on the Hibernian Savings
bank was of short duration as the of
ficers declined to make any payment
on time deposits unless given the legal
sixty-day notice. They said that this
was not because they were not pre-
pared to pay all depositors in full, but
because they wished to avoid embar-
rassment to smaller banks who might
not be prepared to pay all their de-
positors at once, and who might be
placed in an embarrassing position If
the stronger banks were paying all de-
mands for time deposits.
There was slight run on the Illinois
Trust and Savings bank shortly after
it opened this morning, the similarity
of it's name and that of the National
Bank of Illinois having led some de-
positors to believe that the former was
embarrassed. During the run in 1895
President John J. Mitchell. of the Hi
nois Trust, gave orders to pay all de-
positors who called for their money,
and was criticized by other bankers for
doing so. This morning, as soon as it
became evident that there was likely
to be a crowd in the bank, instructions
were given the tellers to serve the GUS
tomary Sixty-day notice. but to pay all
depositors who could show that they
wanted $100 of their money for a legiti-
mate purpose. The result was that the
score or more of people who had lined
up at the paying tellers' windows soon
dispersed. Before the close of banking
hours the excitement had completely
died out. The giving of the notice was
sanctioned by the clearing house COM
mittee, and the object was (the Illf-
neis Trust being the strongest savings
bank in the city, to give the smaller
ones the opportunity to point to it's
action as an excuse for giving the no.
tice themselves, which they did, and
thus effectually stopped a run at any
of the savings banks. The Illinois
Trust and Savings bank is said to have
SO, 000, 900 in cash on hand, and was
today loaning money instead of. as in
1898. calling loans to meet the demands
of the savings depositers.
The American Brewing, Mailing and
Elevator company, the George A.
Weisse Mailing and Elevator company
and George A. Weisse assigned this
evening in the county court. The as
signments of the two companies, which
are intimately connected in business,
w.
court together at o'clock. The as
signee of the American Brewing, Malt
ing and Elevator company is the Chi
cagO Title and Trust company. The
George A. Weisse Mailing and Eleva-
tor company assigned to the Security
Title and Trust company and that
company is the assignee Of Weisse Also
No statement was filed as to the as
sets Or liabilities The two companies
carried on business at the same place,
922 North Ashland avenue.
The failure of the two corporations
was the result of the failure of the
National Bank of Illinois. The two
companies were borrowers from the
bank and were indebted to the bank
when it failed to the amount Of over
$780, 00 AS soon as the failure of the
bank was announced, preparations were
begun foETthe closing up of the bust
ness of the two companies The cor
porations were both organized through
the efforts of George A. Weisse, who is
president of the George A. Weisse
Mailing and Elevator company, and a.
son-in-law of President Schneider, Of
the National Bank Of Illinois, The
American Brewing, Mailing and Ele-
vatOr company is the owner of extern
sive malt houses on North Ashland
avenue, which are leased to the other
company and are used by it in the
manufacture of malt The company
has large brewery adjoining the malt
houses, and the two are closely related
in business, one buying and selling to
the other.
Judge Horton. earlier in the day, ap-
pointed receiver for the general con-
tracing firm of Angus & Gindele, on
the application of John Angus, one of
the members of the firm. The assets
of the concern were placed at $780, 600
and the liabilities at $3.50, 000 An an
swer was filed to the bill by George
A. Gindele, the remaining member of
the firm, consenting to he appointment
of receiver. According to the bill
the National Bank Of Illinois, which
failed Monday, loaned the firm $3.50. 600
and the suspension Of that institution
has nearly destroyed the credit of the
contracting firm, so that there was
nothing left but an application to a
court for relief. The assets of the part
nership consist principally Of real es-
tate, notes. accounts receivable and
contracts for completion of public
works, elevated railroad construction
and the erection of bridges.