The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-12-31
A FEN MORE BANKS BURST
VAN NORTWICK BANK OF BATA-
VIA, ILL.,, is THE PRINCIPAL.
FAILURE.
TWO Minneapolis BANKS SUSPEND
One National and One State Institution.
The Commercial Bank of Roanoke.
Va, Succumbed to Heavy Run.
Other Failures.

Batavia, ILL.,, Dec. 29.-Willam and
John s. Van Nortwick's bank did not open
its doors today Although over $1,000 was
taken in yesterday in deposits no trouble
was caused or excitement created outside
the Institution. Something over $4,000
was paid out yesterday, according to
Cashier Grimes and all money taken in
yesterday and during the time within the
law will be paid back, according to the
cashier.
| There was no run on the other banks of
Batavia today as result of the closing
of the Nortwick bank and no failures were
reported The Van Nortwicks held 434
shares in the Atlas National bank of Chi
cago and tine closing of the bank is due to
the assignment of the brothers to the
Equitable Trust of Chicago. Cashier
Grimes, who was I'll charge of the Mort
WICK bank, said today he had no intima-
ton that the bank would liquidate until
43O p. m, when G. ii. Wilson, represent
ing the Equitable Trust company, walked
into the bank and said that he had been
sent down by the company to take charge.
DO you know of any other failures re-
sulting from the closing of the Van Mort
wick bank?" was asked of Cashier
Grimes.
.'The assignment made by the Mort
wicks includes, everything that they have,
even to their hOmested. They held back
nothing and it is my belief that the credi-
tors of the bank will be baid dollar for
dollar all the bank owes them"
Cashier Grimes further stated that he
knew of no reason why any of the institu-
tons the NOrtwicks were interested in
should close their DOORS as they were all
making money. The Nortwicks are un-
derstood to have gone to Appleton, Wis,
last night, where John 5. Nortwick is pres
ident of one of the principal banks, besides
teng interested with his brother in the
Appleton Manufacturing company.
The directors of the First National
Bank of Batavia had a meeting last night
to discuss the outlook for today and gave
out the report that the First National
would be able to meet all demands upon it
today y ~
! The, fate of the. Van Nor1Mick mills
will be determined in large degree by
a conference to be held in this city to-
morrow William Van Nortwick was en-
gagged all day in making arrangements
|
various Van Nortwick enterprises, by
which the firm could unload some of the
vast properties it had accumulated in
the last six years and get cash therefor.
So successful was he that tonight he sent
an important message to his brother,
John s. Van Nortwick at Appleton, Wis,
to meet him in Chicago tomorrow. Little
was given out rs to the nature of the
settlement which the brothers are hope
full of making. All that could be learned
was that some of the plants were passed
into other hands and large part of the
Van Nortwick heritage was to be disin-
tegrated. The factory of the Appleton
Manufacturing company ut Geneva. ILL.,,
will pass into the control of the Pecks
of Geneva, who now hold stock in the
|, company. The settlement is to carry
with it the payment of the claim of the
Atlas National bank for 100000, which
has passed into the hands of the trustee
of the clearing house banks.
| THE ASSIGNEE'S STATEMENT.
Chicago Dec. 29.-Mr. Lyman A. Wal
ton, secretary of the Equitable Trust
company who was entrusted with the as
signment paD,rs of the Van Nortwick
bank, has returned from Batavia. When
seen he disciaimed all knowledge Of the
banks affairs.
II spent only thirty minutes in Batavia" !"
said Mr.. Walton, ''and did not have time
} to look over the situation carefully The
immediate cause of the failure was, of
course, the liquidation of the Atlas bank.
The Van NOrtwick interests are so large
that it will take some time before the eX-
act figure can be given out"
THE AFFAIRS AT APPLETON.
Appleton, Wis, Dec. 29.-The failure
of Van Nortwick brothers bank at Bata-
via, ILL.,, which involved the Appleton
Manufacturing company, the agricultural
works at Geneva, ILL.,, and the Western
Paper. Bag, company at BATAVIA, has not
yet affected the Fox River Valley proper
ties or any of the Nortwicks connections in
this city. Up to date it is only the Illinois
property of the brothers that is affected,
but it is believed that the Fox river prop
critics will pull through unharmed The
alleged claim of 100000 of the Atlas
bank of Chicago for loan to the Van
Nortwicks, is only $12000O, only that
part of the whole having been paid over by
the bank. The Citizens National bank
of this city, of which John s. Van Mort
wick was president, will not be involved.
John s. Van Nortwick has resigned as
| president and director and his place has
been filed by Lamar Olmstead as presi-
dent and John McNaught0n as director.
No run has begun on the bank, though
the news of the embarrassment of the
Van Nortwick has created furry in
business circles, and is the one topic OF
conversation throughout the city today. 1t
is believed that the joint affairs of the
Van Nortwicks. aside from the individual
affairs of William, in whose interest the
.claims at issue were incurred, will come
out all right Chicago dispatches place
the entire liabilities Of the brothers at