The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-23

CHICAGO. Dee 2e-The assets % the
National Bank OF Illinois. which closed
yesterday. are said 70 include in addition
70 s2,sIs-ooo loaned to the Calumet Eiec-
trfc Light Company, Sno,e9e advanced 20
Robert Berger. son-in-law o. President
George Schneider; s5cl0oa advanced TO @.
A Weiss another son-In-law and over
sSea GO doubtful debts Berger Is A part
ner in the firm OF Z. s. Dryer 4 Co.
which also went into the hands Of re-
ceiyer yesterday. The losses Will fall
upon Isu individual depositors and so
national. state and private banks. The
deposits OF the treasarers OF Chicago and
Cook county aggregate almost $1,000 eo.
The amount az the present time on de-
posit by the state treasurer is compare
lively small. Among the depoSItOrS were
many large corporations and receivers.
including the receivers Of the Northern
Pacinc railroad and the receiver OF the
whisky trust. The deposits OF E. :. Dryer
& Co. include the fund of<fhe Vest Park
board. The amount was about s3lo lS0.
The failure OF Angus < GiRdele. general
contractors: the American Brewing. Malt
ing and Elevator Company. the George A.
Weiss Mailing and Elevator Company,
and George A Weiss individually, were
all due 10 the collapse of the National
Bank OF Illinois. ana small runs on thr1e
banks were the echoes today OF the bank
on the Garden City Banking and Trust
Company. the Hibernian Savings bank
and the Illinois Trust and Savings bank.
but none OF the runs Were OF muca impor-
tance. The officers of the Garden city
Banking and Trust Company had expect
ed that a run would De made upon their
institution. and We're ready TO meet IL.
They threw open the doors OF the bank
an hour earlier than usual. and they said
hay q d
way. so they could transact their usual
business without being disturbed Quite
a crowd OF depositors had gathered be-
fore the doors were opened and as soon
as the bank was ready for business The
depositors gave the paying teilers al they
cared 10 do. The run Aept up with en-
ergy for over an hour. and then oied
away. AT the close OF banking the officers
OF the institution announced that during
the day The amount OF money taken IN
was treble that paid out. and the bank
was declared IN better shape than at tl4s
openins Of the doors il The morning.
TIE run on the HloeTn.Aa SAVINGS bank
was Of snort duration, as the officers de-
ci.ned 10 make aay payment on time de-
posts unless gwen sixty days notice
They sad tais was not because they were
not prepared 10 pay a. deposstoTs n full.
but because Sney wished 10 avoid efnoar-
rassuent TO small bankers VINO might not
be pre- pared 20 pay all her depositors and
Who m. .ghs be paced in an embarrassing
position. The stronger banks were pay
ing al demands for tine deposits.
There was a slight run on the Illinois
Trust and Savings bank shorty after Il
opened this morn ng. the similarly OF It's
name and that OF the National Bank OF
Illinois having led some depositors 10 be-
ieve that the former was embarrassed.
During The run n 1881 President John J.
Michel. of the Illinois Trust and Savings
bank, gave orders 10 pay al. depositors
who called for their money. and was eriu-
c.sed by other bankers for doing so. Tn.s
morning, as soon as Il became evident
that there was likely 10 be crowd n
the bank, Instructions were given 70 the
te.lers to serve the customary sIxty-Gay
not. .ce. but 10 pay ali deposftors who could
SHOW that they wanted 500 OF the-r money
for a legitimate purpose. The result was
that the score or more OF people who lined
up AZ the paying teii6rs' windows soon
q sperssd Before the close OF banking
hours the excitement had completely died
out The giving OF the notice was sane
toned By The clearing house committee,
and the object was cine Illinois Trust be-
ing the strongest savings bank IN the city,
70 give the smaller ores the opportunity
20 point 10 Its action as an excuse Tor
giving the notice themselves wfhen they
The Illinois Trus. and Savings bank : "a .d
TO have 50 90 COO In cash on hand. and was
today t0anlng money instead Of as ~ 1875,
calling loans IN TO meet the demands OF
the savings dcpos.t0rs.
The American Brewing, Mating and
Elevator Company. the George weiss
Mating and Elevator Company ana
George \. Weiss assigned this evening
In the county court. the assignments or
the two companies, which are intimately
connected ~ business. and that % Weiss
we're brought into court together az s
O'Clock The assignee of the American
Brewing. Mailing and Elevator Company
Is the Cnlcago Tide and Trust company
The George A Weiss Mailing and Eiesa-
tor Company assigned 10 the security Il
tie and Trust Company, and that com
panv Is the assignee OF Weiss also. No
statement was fled as to the assets ana
liabilities.
The failure Of the two corporations was
the result of The failure 81 the NaHonAI
Bank % Illinois The two companies were
borrowers from the bank and were IT.
tlehted 10 & when it failed 70 an amount
OF over S5go0eo As soon as the failure OK
the bank was announced preparations
we're begun for The closing up ~ the bust
ness of the two companies The corpora
tsons were both organized through tho
Efforts Of George A Weiss. The American
Brewing Mailing and Elevator Company
Is The owner Of extensive matt houses on
North Ashland svenue. which are leased
70 the other company. and are used ~
f. IN the manufacture of malt Iue Amer
g.sn Mating Brewing and Elevator Com
uauv has a large brewery adjoining the
malt houses An6 the two are closely re-
lated ln business. one huylnr and selling
80 ;ha other.
Judge Horton earlier n the day ap-
ra3nted a receiver for the general con-
traetinE arm q angus & G!aaele On the
anp!lraffau OF John Angus. Gre % the
members o. the lrn. TIE assets of the
concern were paced a. ss.sa and Haol{-
tsses AZ S.s5 sE- Ar answer vas died 30 the
bsu hv George A. Glade3e. the other merE-
har q the nrrn. conseutlnE 20 she appoint
meat 81 A receiver. According 20 TIE b4i}.
.he National Bank of Illinois. wh3ch fail
"a Monday loaned the frm 10 as9 and
fha sasp~nsion of that Institution has
rsarly destroyed the credi; o the con-
fraetsrx ar-n. 50 there was 1o-htaE left
h8t an application 20 court fer RELIEF.
The aasets 81 Ihe p2rtnershlp consist
Principally % real estate. notes secoanLs
rese4vaSi@ and contracts for fhe csan pie
s{ar % usEhEBc WORKS elevated railroad
e-snstractlon and the erection % osls3alnSs-
Rsb~r7 4 Jsakins. ore u Jne directors
CT ghe National Bank o. Illinois. says.
The directors did no, kaov the slEs .,
TO- loan Or the Calumet k<secfFsc- The
discovery - the cgG84fion % tas ioan was
a. n ach - a surprise 30 re ss 20 tAs pub
Ie The same IL trsze % ths loan 10 Dryer
q Company.
Banks In coed Condition
I-nssr rhe general cali issued ~ rae
comptroller % ne currency. ths national
hanks 0: shts city h2vs prepared a state