New-York tribune., 1896-12-31
THE MINNEAPOLIS CRASH.
ANOTHER SMALL BANK SUSPENDED
PAYMENT YESTERDAY.
APPLICATION MADE FOR RECEIVER FOR THE
NORTHERN TRUST COMPANY - CLEARING

APPLICATION MADE FOR A RECEIVER FOR THE
NORTHERN TRUST COMPANY - CLEARING
HOUSE WILL. STAND BY ITS MEMBERS.
Minneapolis Dec 3O-The Bankers Exchange
Bank went into the hands of Bank Examiner
| Kenyon this morning. Depositors have drawn
out about S3o. 900 in the last few days and Pres-
| dent Field concluded to close though he had In
the vaults nearly 80 per cent of all the money on
deposit The bank is less than year old. having
been Incorporated last year. Its loans and dis
counts are $GS 900. its capital $50 600 and its de-
posits about $4,000 Depositors will be PAID
in full and a fair sum will be left for stock
! holders.
| George Maxwell, vice president OF the North
ern Trust Company. made application this morn
I ing for a receiver for the company a. X NC
| Gill, Ex-Governor Of Minnesota, Is president OF
the organization The following statement was
issued by the company:
This company has for some time been seek
ing to realize upon its loans and securities ana
has until now been able to maintain itself with
out difficulty. but the present depressed condi-
ton Of finances Is such that It has been unable
to realize as 1t had hoped. and the suspension
within two or three days Of some OF the banks
| Of the city in which was deposited some OF its
| available funds has somewhat embarrassed IT
| in the transaction OF its business. Independent
of it's assets. the company has list OF RESPONSE
| bic stockholders. who are abundantly 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 appre-
! hension as to the ultimate results. Their claims
will all be paid in full. even II the company Is
not permitted to Immediately resume business
as is now hoped
| The liabilities Of the company are about 5000
| 600 Judge Jamison issued restraining order
| returnable at 10 O'Clock tomorrow morning.
| Judge Belden signed an order this morning ap-
pointing Judge A. LELAND receiver OF the Wash
| ngton Bank under bond Of S2OOOOO The petit
| ton recites that the bank has S2IIt4 more liza
| blties than assets.
Deputy Controller Coffin Is still in charge Of
| the Columbia National Bank awaiting the arrival
| of Bank Examiner Cooke.
The Farmers and Mechanics Bank issued a
notice this morning requiring all depositors TO-
| give sixty days notice before being permitted to
| draw deposits The bank issued statement
| saving il had $SO0,OO0 in its vaults.
The Clearing House Association held a meeting
and resolved to stand by all of the ten banks
which members of the organization.
The correspondents In New-York Of the Bankers
| Exchange Bank of Minneapolis. were Gilman. Son
| & Co.. at No g. Cedar-st.. with whom the bank
| had a small credit balance. The Newyork bust
ness Of the bank did not amount to much.
| An attachment has been obtained here by Hays
| & Greenbaum against the Columbia National
| Bank of Minneapolis. on claim OF Adoph fea-
body for So 900 The Sheriff served II on the Han
over National Bank. which is the New-fork CORE