Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1896-12-23
STRlNGENCY OF THE TIMES
Depressing Object Lessons for the Tri-
umphant Advance Agent Of Pros
perity to Study.
LIST OF BUSINESS DISASTERS
Lame Explanation of Illinois National
Bank Failure-Receivers Appoint
ed for Bank of Minnesona-Dry
Goods House Failure.

Chicago, Dec. 23.-W. A. Hammond,
second vice-president of the National
Bank of Illinois, who has been charged
with pulling the wool over the eyes of
the directors, would not talk to-day when
seen in his palatial home at Evanston.
Through intimate friends, however, he
made a statement calculateesto saculpate
several directors as we'll as two or three
others connected with the bank.
Hammond is to be made the scape- goat
for the failure of the National Bank of
Illinois," said a friend. Hammond is
broken man to-day, but he is not any
more to blame for the amount of money
loaned on Calumet securities than are the
members of the finance committee of the
bank and its directors. 1t was necessary
to the purposes of man connected with
the South Chicago City railroad and an
officer of one of the best known banks in
this city to depreciate the Calumet Elec-
trio roads stocks and to this end these
two men brought about the wrecking of
the National Bank of Illinois"
"Ofthe banks funds $2,476, 900 had been
loaned on Calumet securities. The plan
was to combine this valuable property of
sixty-three miles of new track, equip
ment and franchise, with the South Chi
cago railway, eventually combining with
the Chicago City railway, and make for
tune of millions within five or ten years."
says this friend of Hammond.
CHICAGO BANKERS ARRESTED.
Chicago.-E. s. Dreyer and Robert
Berger, of the banking firm of E. S.
Dreyer d Co., which collapsed on Non
day, for whose arrest warrants were is
sued last night, gave themselves up to-
day. Arrangements had already been
made for bonds and the bankers were
promptly released. Dreyer and Berger
are charged with receiving deposits on
Saturday, knowing the bank to be in
solvent.
FAILURE OF BANK OF MINNESOTA.
st. Paul, Minn.-State Bank Examiner
Kenyon was still IN charge of the Bank Of
Minnesota at noon to-day, receivers not
having been appointed. There is no ex-
oitement to-day in business circles, the as
surance that the depositors will be paid in
full being given BY stockholders who IN
dividually can more than pay depositors.
REcEIvERs APPOINTED.
Frank A. Seymour and Attorney W. R.
Lighter were this afternoon appointed by
Judge Otis joint receivers of the Bank of
Minnesota. They were required to file
joint bond of 81 100000.
ANOTHER BANK GOES DOWN.
Weet Superior, Wis.-The bank of West
Superior, capital $4,000 and $4,000 sur
plus, suspended operations this morning
as direct result of the failures OF the
banks of Minnesota and Illinois.
GENERAL sTR1NGENeY oE THE TIMES.
Sioux City, Iowa.-The Arsons-Pelle-
tier Dry Goods company, one of the larg-
est houses in Sioux City, did not open
for business to-day. The stock is in the
hands of the mortgages, who hold claims
for $91, 1913.
j. v. Farwell 4 Co., Chicago, $32,484;
Marshall, Field q Co., $39,595, and the
Farmers Loan & Trust Co.,, Sioux City,
$4,000 are the holders of the first mort
gage.
H. B. Clafin & Co., of New York, hold
second mortgage for $17,512.
No figures as to the assets are given.
The failureis due to the general stringency
of the times.