The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-31
BUsINAss MOUNTS.
Minneapolis Bank Cioses-Condi-
tion OF Ofher Institutions.

Another Minneapolis Bank ttoser-tohui-
tiOn of Other Institutions.
MINNEAPOLIS, MINI, Dec. 5O.-Tho
bankers Exchange Bank went into The
hands Of Bank Examiner Kenyon this
morning. Dopostors have drawn out
about $4,000 the past few days, ana
President Field concluded TO close.
though he had n the vaults nearly ~
per cent. OF all the money en- deposit.
The bank IS less than "a year old, having
been Incorporated last year. IT'S loans
and discounts are $JsO00; It's capital $4,000,
and it's deposits are about siOvuD. DepOal-
tors VIII be paid i'm fun, and u fair sum
Will be lett for stockholders.
George MaAweu yico-presidcnt Of the
Northern Trust Company made applica-
ton this morning for u receiver oil the
company y. X. McGll, eN-GOycrnor ol
Minnesota, is the president OF the or
SANITATION. The following statement vas
issued BY the company.
This company has for some time been
seeking 10 realize upon it's loans and see
crrities. and has until now been able TO
maintain itself without diilicwty, but the
depressed condition of finances is such
that IL has been unable to realize as 10
had hoped. and the suspension within
%
of the city, i'm which was deposited some
of It's available funds, has somewhat en-
barrassed IL in the transaction Of its
business. Independent Of its assets, tine
company has q list OF responsible stock
holders, who are abundantv able 10 make
good any deficiency that may result from
depreciation in value OF its assets. so
that the creditors Of the company need
have no apprehension as to the ultimate
results. their claims Will all be paid in
fun, even If the company Is not permitted
TO Immediately resume. as is now hoped
The liabilities Of the company are about
judge Jamisor issued restraining or
der. roturnable at 10 o'clock tomorrow
HoIning.
Judge Belden s!gred an order this morn
/ ing appointing Judge a. Icland receiver
of the Washington Bank under % bond
Of 100000.
The petition recites that the bank has
/ S2l1-f moIe liabilities than assets
Deputy Comptroller Colin is stu IN
T charge Of the Columbia National Bank
awaiting the arrival of Bank Examiner
Cooke.
The Farmers and Mechanics Bank is
sued a notice this morning requiring an
depositOrs TO give sixty days notice be
fore being permitted 10 draw deposits.
The bank issued a statement saying IL
had $4,000 I'm its vaults. The Clearing
House Association held meeting and
resolved TO stand by all OF the ten banks
which are members Of the organization.
There was a heavy run on the st. An
thonv Fail Eank. OF this citN TINS fore-
noon. All demands were paid, and the
excitement QulctCd down.
CHICAGO Dec. 30.-W. 4. Paulsen, who
was the principal owner Of the failed
Central Trust and Savings Bank. He'd
bin in the Circuit Court to-day 10 restrain
the Atlas National Bank from dspOsng
q nV
bank and to restrain President Grannis
and Charles g. Farwoll. director and
eN-United states senator, from dieposing
OF their own property. so that Paulson
cannot collect any Of the DAMAGES ne
may ho awarded at tho trial Of his suit
for $500 900 against the bank Grannis and
Farwell. In connection with the $4,000
note and the closing Of paulsen's bank
ly the failure of the Atlas 10 clear for
20. I'm his bill paulson sets UP the lQuida-
tion Of the Atlas Bank now I'm progress.
and states his belief that. nOtwthetand-
ing an the dcpositors are being paid I'm
fun. it is hopelessly insolvent. and will
not pay its depOsitors from its own funds.
lie also alleges that the Atlas Bank sfill
holds MIN as ondorser on the $4,000 note.
although the courts have held IL 10 De
fraudulent and also unlawfully with
holds 900 of collateral bonds belonging
APPLETON. WIS. Dec 3O.-John s.
Van NortwiCk to-day made am Individual
assignment of his Fox river Interests
naming Postmaster John NJ. Bear. or thls
city as receiver. the latter giving bonds
for $3.50 600. The principal property ln-
cluded i'm this ASSIGNMENT are the plants
OF the Combined Locks Paper company.
the Appleton Pulp and Paper company,
Union Papcr Company. at Naukauna.
Wis. Fibre Company, at Monoca, HO
shares I'm the Green Bay ana MISSISSIPPI
Canal Company the face value or WHICH
is $40 0o0. and miner interests including
! his residence In this city.
DALLAS. TENAS. Dec. 30-Teiecram5
TO commercial agencies az Iallas an-
nounco the failure of a. 4. Balm. jew
elor at Austin Texas Liabilities $50 000.
assets. $4,000 Eastern creditors are
caught for only 5000. Inree Austin banks
are owed $1,000
PARKERSBURG, w. VA. Dec. 30
Isaac Prayer q Sons. extensive retail
dry-CoOds dealers. made an assignment
yesterday. Assets and Liabilities are es-
timated M 100000
MONTGOMERY. ALh.. Dec. W.--1Ne
Commercial Bank OF Selma failed 10
Opeu its doors for business to-day. In
sscad notice was posted stating that
the Board of Directors had decided 10
make an assignment. The cause or this
action was the heavy run made ON the
bank I'm the last few days. The bank
was heavy debtor 10 New YORK banks.
among them the Chemical, American,
Exchange National. CITY Third Nation
the Republic and they sent an attorney
some davs ago 20 investigate its con-
di.ion. The knowledge of the attorney s.
presence had a great deal 10 do with the
run The Board of Directors arrived al
the conclusion TO assign after long ana
continued session lasting until after mid
nignt last night. The officers OF the
bank are. II. NJ. Nelson, president: Geo.
A. wilkins vice-president. a. T.. Baker.
cashier.
The patrons Of the bank have conn-
dcnce that IL VIII soon resume business,
and are signing an agreement 10 with
draw their deposits. onc-third I'm three
months one-thrd IN six months and
one third in nine months.
There is no public statement as yet
OF assets and liabilities. The business
men are hopeful that the failure Will
not be detrimental 90 their interests.
UORRIBLE BRUTIIIIT.
| \ Child Whipped Until Limp and Blister