The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-30
LIST GETS LONGER
NEXT BANK IN THE ROW GETS
f0PPLED OVER.

sequence, In PART OF the Atias Natiooai
Failure, and With Very Large Outside
Intsrests-Two More Minneapolis Bank,
Get Into Too Deep water-FaiIure a
Roanoke, va.-Lsadvilie Bank in Liqui
dation-Commercial Failures.
Batavia, Ill. Dec. 29.-William and
John Van Nortwicks bank did not open
Ats doors today. Although over $1,000 was
taken in yesterday in deposits no trou-
bic was caused or has been created out
eide the institution. Something over s4,-
coo was paid out yesterday, according to
Cashier William L Grimes, and all money
taken in yesterday and during the time
within the law will be Immediately paid
back, according to the cashier.
There was no run on the other banks
of Batavia today as result of the clos
ing of the VanNortwick bank. and no
failures are reported. The VanNortwicks
held 464 shares in the Atlas National
bank and the closing of their bank here
Is due 70 the assignment Of the brothers
TO the Equitable Trust company of Chi
rago.
Cashier Grimes, who was in charge Of
the VanNortwicks' bank, said today that
he had no intimation tina: the bank would
iquidate until y O'clock yes terday after
noon. When &. Q. Wilson, representing
the Equitable Trust company, walked
Into the bank and said he was sent by the
company 10 take charge. Deposits were
refused the last ten minutes of the regu-
lar hours Of the bank, though some mon
ey was paid in after Wilson arrived. The
last deposit received was taken in about
2.30 o'clock.
Cashier Grimes said:
The doors of the VanNortwicks' insti-
tuition did not open today, as c. c. Will
con, Of the Equitable Trust company Of
Chicago, is in charge Of the bank. No
excitement was caused in the street and
no run was apparent on the other bank
the First National"
do you know of any other failures re-
quilting from the closing of the VanNort-
wick bank?'
The assignment made by the VAN
Nortwicks includes everything they have
even to their homestead. They held back
nothing and il is my belief that the credi-
tcrs Of the bank will be paid dollar for
dollar"
Cashier Grimes further stated that he
knew Of no reason why any of the inst
buttons the VanNortwicks were interest
ed In should close their doors, as they
were al making money. He refused to
give any statement as to the fact that
the institution was in the hands of a re-
ceiver, and it was his place to report on
the condition Of the banks affairs
The VanNortwicks are understood 10
have gone to Appleton, Wis, last night.
where John S. VanNortwick, president of
one Of the principal banks. besides being
interested with his brother in the Apple
ton Manufacturing company.
The directors of the First National
bank of Batavia held a meeting last night
to discuss the outlook today and gave it
out that the First National would be able
10 meet all demands made upon it today.
Cashier Joseph Jobleter said this morn
ing:
I'VE could have stood the pressure a
little longer. but to protect the majority
we closed this morning. We have s33 900
IN cash in the vault, and inside of sixty
days expect to have fully 500. 900 more
collected. Our total liabilities are only
S347.e0o, and much of that we understood.
is not immediate. There is no doubt but
what we will be able to make a full ac-
count with our depositors and a fair SET
cement with the stockholders
The recent Withdrawals which caused
The trouble were of the city and state
funds, Of which we have large deposits.
and also by country correspondents. OF
the city and state money only about Sill
POO remains in the bank The most of
our individual depositors were busienss
men"
The officers are: Charles Kittleson. pres
ldent; H. Thorson, vice-president: Joseph
pooleter, cashier; j. c. Kittleson, assist
ant cashier.
Among the directors are A. K. Tiesburr
and Thomas Hanson. The bank is in
the immediate charge of c. H Coffin.
deputy comptroller of the currency. He
states that the officers of the bank applied
70 the banking house committee for as
elstance yesterday, but this BODY and the
directors of the bank finally agreed that
the best thing under the circumstances
would be TO close.
Il believe" said Mr.. Coffin, that the
action was anticipated by all parties in
tereS.ed and the suspension viii not causo
any further trouble. All the national
banks of this city are in a vary strong
condition. financially, as we have salts
Ned ourselves by examination"
WISCONSIN INTERESTS.
Milwaukee, Wis, Dec. ga special IN
me wisconsin from Appleton, Wis. saws:
The failure of the VanNortwick brothers'
bank at Batavia, Ills. which involved
the Appleton Manufacturinf companv.s
agricultural implement works AT Geneva
ILL., anu the western Paper Bag COM
pany paper bag mill at Batavia, Ill. has
nor anected the Fox River Valley prop
critics of the brothers. namely the Conn
bined Locks Paper company. the Annie
ton Paper and Pulp company of this civ
ana the Western Paper Bag company-s
MIL at kaukauna. Up to date il is only
me Illinois property of the brothers that
IS affected, and it is believed that the
FOX river properties will pull tbrouo,,
unhurt. The alleged claim of $500 900 of
the Atlas bank of Chicago for loans m
the VanNortwicks is only S12e. 600. only
that part of the whole sum having hsa,
paid over by the bank. The Citizens Ma
tional bank of this city. of which John s
NanNortwick was president, will nor he
Involved in the failure.
John ). has resigned as president and
director and his place has been filled hv
Lamar Olmstead as president and John
McNaughton as director. No run has h.
gun on the bank. though the news of the
NanNortwicks' failure has created A 1,1r-
~ IN business circles and is the one topic
OF interest throughout the CITY.
II is confidently believed that the io,r.
affairs OF the VanNortwicks, aside from
the individual affairs OF William. in
whose interest the claims at issue wera
incurred, VIII come out all right. Chicago
dispatches place the entire liabilities ~
the brothers at $50. 000 while the COM
oIned Locks plant alone is worth nearly
oouoie that amount. AS matter OF fac.
the loan OF the Atlas bank is only sla0 900
instead OF 100000, as stated. John L.
NanNortwick refuses absolutely To he in
serViewed today.
CAUSES OF THE FAILURE.
Chicago. Dec. 29-Attorney 4 "
Green, who drew up the assignment pa
pers for the Batavia bank, disclosed the
principal cause which led TO the assign
ment in an interview today Aside from