The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-29
BUSINESS Troubles.
Banks In Trouble IL the Northwest-Me
camille Failures.

MINNEAPOLIS. MINI. Dec. D.
The Scandia Bank. OF this city. closed
its doors this afternoon.
The last obtaInablc statement OF the
cOuuitiOu OF tnc uanK wAs .i..ae O,toD,s
9Th last. IL showed loans ana discounts
amounting 10 sisy,zas, ana deposits assre-
gazing So, 55i. It's business nas uccu IL
most wAOny with Scans.
SUPERIOR, WIS, .>cc. -5.-AntiCipat-
ms a run to-day, tne Dana OF superior
did not open Tor business tnis motninE.
Henry >. Butter Is Assignee, ana mas
assumed charge o. the D~nn alalia.
Inc luIure Is uue 70 poor business --nd
heavy Withdrawals since recent iaiiutts
IN 81. Pau. chicago, ANA tins city inc
capital OF the Uann WAS SZa,VF, WITH SUR
Plus OF 5000. Tho deposits were nearly
slU0.oO, including Sl5.ziV OF cty Iunds.
ms makes nearly S5v,VW OF pubic ilnoS
tied up m week. Omdais OF the oanN
say they Will pay IN tuh.
CHICAGO, Dec. 2.-ine Atlas National
Bank. az Washington ana LaSalle streets.
was practically IA charge OF inc Ihi,o6o
Clearing HOu,c Association, representing
tie associated Financial institutions OIL
the c4ty, when the doors were OPENED 20
Nhc public at lV o'clock this morning.
William c. oakley, "a former national
bank examiner. was appointed the agent
OF the associated banks 10 supcriut-nd
the clerical and other details in connec-
ton with the work of voluntary hqWda-
uon with the necessary cash assistance
OF other banks.
Small accounts We're paid I'm full when
presented this morning, but. IN no case
did the large depCsiiors press FOR imnt-
date payment accepting me signed guar
antee OF the banks m the Clearing House
that ali depOsitors would get their money
in full. Many business men and bankers
called to express their sympathy with The
officers ana directors of me bank.
10 is believed the stockholders viii get
nearly ali that is due them az par.
The well known connection between inc
Atlas Bank and the Dime Savings BANK,
"a small hut old institution, caused the
circulation oil the report mat II would
also be forced o. liquidate. lts doors were
opened for business as usual, but the,e
VAS little business TO do. IepOsitors
came 10 draw out their savings hut they
were presented with u blank notice %
the hank that they desired TO withdraw
so much I'M ninety days from date. and
requested 10 ON out the paper
other banks Of The city were doing husi-
ness under normal conditions this morn
iug
Tho general opinion IS that the Dine
Iauk will follow the Atlas into voluntary
liquidation within ninety days.
The resources OF the Atlas National
Bank are estimated at SZ.JJUuNu. Win ""-
LEGATIONS upprOXimatius the sam" amount.
owing 90 inability % realize tnr d'ih'
value of the assets on declining mar
kef 10 will bee necessary for me BANKS
which are members Of the Clearing HOUSE
Associations 200 advance between 500 WN
and $500 600 pro rated according to their
capital stock, iu order 90 pay au approved
claims IN full AZ once This is expected
10 be done within week The amount
of money needed 90 complete the llQuldi BE-
tiOn is about 500 OOr more than was no
first expected by the Clearing, House
Committee. After Chairman Lomard.ot iu'
Clearing House committee who if srI'
ing ass trustee for the associated banks
had held conference to-day with Cashier
>. ~. Stone. the acting manager of thf
bank and had gone over some Of th,
accounts Ie expressed himself as conn.
dent that the bank had not only ample
assets 90 cover all Liabilities. but tho
stockholders would not suffer as severely
as was az first expected. MI Stone also
said the stockholders would not fare bad
ly Bon The division of the assets.
President GraEuis is reported % hs
seriously ill at his home ana mis- ply
sicians will not allow him 10 do auythnl
in connection with the liquidation of 90,
banke 10 was known 90 the inner -uHu
cill circle that the Atlas bank had mol
been doing a profitable business for ;
year. and within Sis weeks the stOcf
WAS offered freely from 80 down 20 O1
Lately II has been struggle lor tn'
bank 10 keep open. and the assistance q,
honombly discharge IT'S Obligations Do
fun was gladly accepted
KANSAS CITY MO. Dec ~ -rh'
Mccoy Banking COMPANY OF lndonon
dcncc Mo. went into voluntary hQuida
ti0n to-day. The reason given IS ina
iis president. VIM. McCog = too ad
Nanced On years Go manage MS affair
longer. The capital stock or The DAM
is SlO.O0l. ON August 10Th. when the las
report was made. Il owed to rs deposi
tors $35,ls). It's outstanding loan
amounted TO ST. 262.
CHICAGO. Dec. - The Excelsior M1
chino and Boiler WORKS Company. Yves
tern avenue and Sixteenth street. failed
to-day Tho company made ana assign
mcnt In the County Court 90 the EQuita
bio Trust Company The assets OF tn
corporation are $4,000. and the iabilite
are said TO be abOu, the same. nm
only cause assigned tor the failure D.
hard times ANA business depression. Ih
assignee took charge OF the works.
MARQUETTE. MICH. Dec 2>-Loui
Grnhower the leading drv goods mer
chant OF this city and having a. larg
branch store at Baraga. failed this morn
ing. hts stores being closed under fore
closure OF chattel MORTGAGES agsregatin'
SZ3 olo. NO statement oi assets and liu
bilitios has vet been made.
MACON. GA. Dec 2S-Thc wholesale
whisky house Of the Sicsol & Wolf Com
pany has been closed under mortgage
held 10y the Exchange Bank or This Cit'
10 the amount Of $50 600. n is said tho ns
sets Of the company will cover this in
dchtcdncss. Mr.. Siesel the senior mem
her Of the firm charges Jake Wolf. th'
secretary and treasurer. with being de
falltor Wolf has been absent "a wcci
and cannot boo located. Tho failure IS du
IN mart 10 this alleged shortage
CTNCINNATT o.. Dec. 22.-Gaorgc \
Graeeel s. CO.. dry goods dealers. assignee
to-day Trey have been in business fol
twcrty years. Assets. $4,000 liabilities
'21 001