The Bryan daily eagle. (Bryan, Tex.) 1895-1898, 1896-12-22
A BIG BANK FAILURE.
The National Bank Of Illinois
Closes Its Doors.
PULLED DOWN TWO OTHER BANKS

PULLED DOWN TWO OTHER BANKS
nsiWeen Twelve snd Fifteen Mnilon
Dollars Are Involved IN the Faiiurs.
II n said Leaning Too Much Money
60 street Railway Company brought
90 the Failure
CmcAoo. Dec. 2i-The National
Bank o. Illinois. one Of the oldest and
best known banking institutions in the
city and with assets between sl2. 900. 600
and si5.000.0Oo. closed its doors today.
The following notice was posted on the
doors before opening banking hours;
"Ths hank is in the hands Of a na-
ional bank examiner by order Of tho
conf iroiier Of the treasury" This &C.
iion was decided upon at a meeting a
the directors Of the bank last night.
after the bank had been suspended from
the Clearinghouse association Of Chica-
go az a meeting Of the clearinghouse
committee held earlier In the day.
OF the 20 banks that cleared through
the National Bank Of Illinois. two have
closed their doors AZ a result of the clos
ing Il that institution They are Dryer
& Co. and WasmansdoriI q Heinemann.
These two institutions were mortgage
loan banks and savings associations IN
small way, and their failures are not ex-
pectcd 20 eject any business houses.
The assets Of T. S. Dryer & Co. IS given
at 81, ,6o0,0oo. with liabilities Of $780, =
600 Figures for Wasmansdora & Hoin--
mann are approximately, assets. $780,
600 liabilities. 100000
The secur y Title and Trust CON-
paay was appointed receiver for both
FIRMS
Six banks made arrangements to
clear through other banks and the bal
anco Of the 10 are making similar ar
rangtments a. fast a. possible
The failure was a great surprise in
financial and business circles. The
causes % the suspension as given in tho
resointious adopted By si.e clearing.
house committee are ''unwarrantod and
injudicious loans." through which the
ld"capital and surus Of said bank is se-
riously imperilled, II no, absolutely
lost"
Ths statement was made that loan
Of about e. 10000 to the Calumet
Street Railroad company Of which J. W.
Fauon Of Farson. Leach & Co, is prcsi
dent. had caused the National Bank OF
Illinois 70 suspend. Mr.. Farson de.
olinod 70 make any statement ON that
subject. but said the failure would not
affect the Calumet road. Heavy loans
on realcsiate are also said to have been
made
The last statement the bank showed
deposits Of sia.i55.s66; loans. to,is9..
6lg. and cash resources, st9SS, s02. Il
Is thought probable that none Of the de.
positors win suffer by the suspensions.
as the bankers who were present at the
meeting Of the committee have recon-
meuded for consideration the PROPOSE.
tion 60 advance % per cent on all ad-
jusitd claims against the National Bank
Of Illinois. In addition TO this the ,
have agreed TO use their influence with
all other members Of the Clearing Hous
association to accept all such claims a.
collateral at the same ratio
The National Bank Of Illinois wa
organized IN August. 1871. with a cap.
ital stock of s900.0Oo which was subse.
queutly increased to si,ooooOO The
Press club was one Of the sufferers By
the suspension. all the proceeds Of ths
advance sale Of tickets for the football
game between the Carlisle indians and
the University Of Wisconsin eleven
which was held under the management
Of the Press club. amounting to ovel
5000. having been deposited Saturday
sis announced that the Drovors' Ma
iional bank. which cleared through IN
National Bank q Illinois, viii slea
through the Commercial National Tn
West Side bank win also clear throngl
Che Commercial National.
The suspension had Int little efTec
ether IN the whoaipt or Stock Ex
change Wheat showed strength afie
che opening at hvc.eighths decline, am
che slockmarket was dull aud only frac
tionally lower.
Neither bank examiner nor any Of
ior Of the National Bank Of Iliinoi
VIII make any statement az present