The San Francisco call., 1896-12-25
NOW FIGURING
ON THE ASSETS
Chicago Bank Directors to
Sell the Calumet
Road.
Officers of the Defunct Illinois
National Expect to Pay the
Depositors in Full
Public Confidence Seems to Have Been
Restored and the Run Has
Feen Stopped.

CHICAGO, ILL, Dec. 24.-The local
financial situation resumed Its normal
condition to-day, except for the assign
ment of the Calumet State Bank, small
institution at Blue Island, outside the
city, which IS not expected to have more
than local effect. Heavy Withdrawals
drained the working resources OF the
bank, an indirect result of the financial
crash in this city. Only few more de-
positors than usual were at the Hibernlan
and illinois Trust and Savings banks to
Withdraw their savings, and complete
confidence may be said to have been re-
stored on the public, so far as it can be
gauged by outward signs.
Directors Adams, jenkins, Corwith,
Kerfoot and Page of the defunct National
Bank of Illinois made an informal call on
Temporary Receiver McKeon at the bank
to-day and also conferred with each other
in an informal manner, as all the directors
were not present. They urged Mr.. McKeon
to make a very careful account from the
Calumet roads bonds held by the banks.
These directors went to the bank IN their
capacity of creditors. They are anxious
to see the best interests of the bank sub
served and wished to know exactly what
the bonds were worth as assets. The di-
rectors talked among themselves as to the
best plan to facilitate the sale of the
Calumet road and thereby realize enough
to pay in full the depos1tors of the de-
funct institution.
They said that was their only aim now,
and that there was no doubt that all but
the stockholders would get dollar for dol
lar due. The stockholders do not expect
so much. On account of the large part
which the Calum ct securities play in the
banks assets. Director George E. Adams
and Comptroller Eckels should be careful
to appoint as permanent receiver q man
who would inspire confidence and be
above suspicion of being interested in
depreciatlng the value of the Calumet Sc
curitles. There is sharp contest for the
receivership, one of the candidates being
ex-Mayor John P. Hopkins
Edward d. Valentine, capitalist, who
was director of the collapsed bank, said
to-day that he resigned from the directory
about year ago because he would not
approve the additional loan of 5000, 900 on
Calumet bonds, whichwas carried on the
bank books as 'foreign exchange" He
declared that every director was cognizant
of all the bank dealings in Calumet.
Director Jenkins, when asked if there
would be any prosecutions in connection
with the wreck, said, mo; not at pres
ent."
Otto Wasmansdorff of the defunct pri-
vate banking firm and son-in-law of Pres
ident Schneider of the National Bank of
Illinois has mortgaged his household
goods for $500, and the mortgage was re-
corded this morning.
w. A Paulsen, who was president of the
defunct Central Trust and Savings Bank,
began suit to-day in the Superior Court
against President W. C. D.Grannis, Direc-
tor Charles B. Farwell, Ex- United States
Senator, and the Atlas National Bank,
claiming $3.50. 900 damages. Paulsen alleges
that his bank was forced to close because
the Atlas refused to clear for him, well
knowing he was solvent at the time,
which was said to have been done in re.
venge for Paulsen's refusal to use the
banks funds to pay personal note OF
g2n mn