The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-30
MONEY MAD IN MINNEAPOLIS.
TWO MORE BANKS FORCED no
CLOSE THEIR DOORS.


The Columbia National and Che
Washington Bank the Institutions
lnsOiVed-Thc Closing of the For
mer Precipitnted "a Rum on the
Lntter-Both Institutions Expect TO
Pay Their Creditors In FulI--FaiI-
ures in Other cities.
Minneapolis, Minn., Dec. 29.-The Colum-
bia National Bank, whose president is
Charles Kittleson. ex-state treasurer and
whose cashier Is Joseph Bobleter. also an
ex-state treasurer, failed to open it's doors
this morning and George M. Coffin, deputy
controller of the currency, who happened
to be in the city. took charge. Cashier
Bobleter said that the liabilities, not in
cluding the capital stock, etc., and includ-
ing principally deposits, amount in round
numbers to $2i7,OO0 while the assets. most
ly notes, amounted to $l5OOO0 He said that
he had no doubt but that the depositors
would in time be paid in full. The state
is creditor to the amount of $4,000 and
the county to about $1,000. The city had
. 200 on deposit. AT the present time, ac-
cording 20 Cashier Bobleter, there is $685.
900 cash in the vault, and 100000 will be
collected within the next thirty days. The
suspension was ordered for the purpose
of protecting the majority of the creditors
The banks capital Is $4,000.
The suspension of the Scandia Bank
yesterday and the Columbia this morning
created consternatIon among the patrons
Of the Woghtnpfnn nd n
run" ensued that the bank was COM
PEELED to close its door shortly after noon.
Depositors drew their checks directly ut
the bank and through the clearing house
at such rate that 1t was evident that
the interests of all the depositors demand
ed the suspension of business. The panlS
knew that it's strength would be sorely
taxed to-day, and had made arrange-
ments to get $4,000 in cash, which would
have tided 1t over safely, but the money
was not forthcoming this morning, and
after vain attempt to stand the de-
mands, Cashier Brecke telephoned Bank
Examiner Kenyon that the officials had
decided to close the bank, and asked him
to take charge.
Cashier Brecke stated this afternoon
that aside from the matter of cash on
hand, the bank was in excellent shape.
Exactly what will be done has not yet
been determined. II Is very likely that the
suspension VIII be only temporary, as the
resources of the bank are in such shape,
according to Mr.. Brecke, that It's depos-
itors can be paid in full in a comparatively
short time, and 50 cents on the dollar
within two months. In round numbers,
the liabilities are 100000, and the assets
100000. OF the latter only $14,500 is real
estate. The bank had some city deposits,
5000 OF state money and $4,000 of the
county's.
The banks officials are: President, A.
G. Haugan, who is at present city treas
urer; vice president, X. s. e. John; CASH
ier o. r. Brecke. The banks loans and
discounts are $507,l45 Its deposits are
$45S,000 and its capital stock 100000.
The announcement Of the failure OF the
Columbia and Washington banks caused
a considerable furry at nearly all of the
other banks of the city. The biggest run
was on the Farmers and Mechanics Bank,
the largest savings institution In the north
west, with deposits of over 100000. This
bank Is said to be entirely safe. 1t stood
constant run of eight days during the
panic of 1898