The evening times. [volume] (Washington, D.C.) 1895-1902, 1896-01-29

The Northeastern Savings and Deposit
Bank, a small financial institution doing
business at the corner of II and Second
streets northwest, has closed its DOORS
Considerable mystery surrounds the re-
cent operations of the bank, and it is
rather difficult 10 learn anything regard
! ing its affairs.
IL is stated that the failure about week
! or ten days ago of the firm of Joseph Hill
man 4 Co., commission merchants and pa OK
ers On Louisiana avenue, is the indirect
cause Of the banks trouble. Mr.. Hillman
was, up To the time of his firms assign
ment, the cashier of the Northeast Bank,
and. fearing that his transactions would in
volve the institution, the depositors made
a run on the bank.
DEPoSITORS PAIDIN FULL.
They were all paid in full on demand up to
yesterday, when the concern shut down.. A
notice was posted on the outside that bust
ness had been suspended for the present, but
that creditors would be paid in full.
No statement of the concerns financial
condition has been given out. Mr.. Charles
Knoder, who has acted in the capacity of
teller, bookkeeper and general all around
man for the bank, was ut work on the books
until late hour last night, but could not
be found, today, to ascertain the result of
his examination.
1t is stated that n considerable amount OF
liabilities will fall due on the first of the
coming month, and that the unexpected run
on the bank will make it impossible for
these to lie met. The officials, however.
give out the statement that no losses will
occur.
Thcbank was Incorporated somcthingovcr
year ago, and started in business with
capital stock of $4,000
|, Its patrons have come almost entirely
from the employees OF the Government Print
ing office and the numerous small shop
keepers in that viciaity. To majority OF
these comparatively small loss would
prove very embarrassing in their business.
THEY ARE SLIGHTLY SUSPICIOUS.
Some OF them seem to be a little sus-
picious and quietly suggest that possibly
everything has not been as We'll con-
Quoted as might have been. A number
We're fortunate enough to withdraw their
money before the clOse-down.
The Officers of the institution are pTcsi-
dent. William A. Engel; vicc-president,
A. K. Applcnan; Hon. w. f. Sadicr, Andrew
Gleeson and James L. Pugh Jr. MT GecSon
is the recently elected delegate to the Re
publican national convention, and it is
stated that as he and Mr.. Pugh but lately
became connected with the bank they can
not DE held in any way responsible for the
failure
william A. Enge, who is president of the
concern. is also manager for the Pabst
Brewing Company in this city. He could
not be found today, and those who are sup
posed to be best informed in regard to the
banks condition refuse to make any state
ment.
Other city banks, it is said, will not
suffer by the failure of the Northeastern, as
their securities are ample.
Mr. Pugh states that he was elected to
the directorate without his knowledge or
consent. and that he knows nothing OF the
banks business.
1t is the general understanding that an
assignment will be made today to the
banks attorney, Thomas 7. Woodward
Until this is done and a record filed with
the court no statement of the bank can be
had. -.-..-
The firm OF Hiilman & Co., produce
dealers and packers. at No. 922 Louisiana
avenue filed an assignment this after
noon to A. II. Duvall. Assets are given
at $4,000 while the liabilities roll up
into the neighborhood OF $4,000.
Joseph Hillman, the senior member of the
firm, has until recently been the cashier OF
the lately defunct Northeastern Bank.