Red Lodge picket. [volume] (Red Lodge, Mont.) 1889-1907, 1897-01-02
COLI MIiIA NATIONAL GOES UNDER.
Another minneapolis Bank Unable
tn Stand EarI TimeS.


MINNEAPOLIS. Dec 29.-The Columbia
National bank, small institution cf
comparativey recent establishment, and
s2oO.0oo capital closed this morning ard
is in the hands of the bank examiner.
According to the last statement, Dectm-
Der II. it had loans and discounts Of
s34S. .145; bonds to secure circulation, s'0,O3e:
real estate and mortgages, SlS,I2s; cue
from other banks, $42,S91; cash reserve.
s34. .S72; other cash items, $ll,S52. L'ab'l-
ties: National bank notes outstanding.
s45 900: due to other banks, Sl36,519; depos-
it's subject to check, S1O1,507 certificates
Of deposit, $G3, ,59i; certified and cashiers
checks, $3313; bills payable, $1,000.
Cashier Joseph Jobleter said: 1--WE
could have stood the pressure a little
longer but to protect the majority we
closed this morning. We have $50, 900 in
cash, and inside of 60 days expect to have
fully 800. 900 more collected. Our total LA
bilties are only $247, 900. There is no doubt
that we will be able to pay depositors in
full and effect fair settlement with the
stockholders Recent Withdrawals Of city
and state funds by country correspond
ents caused the trouble The o1hcefS
are: Charles kittleson, president; H.
Thorser, vice president; Joseph Jobeter.
cashier. The bank is in charge of George
II. Coffin, deputy comptroller. II believe
said he. "the suspension will not cause
anv further trouble. The national banks
of this city are strong financially, as we
satisfied ourselves by an examination
Examiner Cook was ordered from chi
cago to take permanent charge. The lat
est report received, that Of october .,
gave assets Of $641 600, but these have
probably shrunk since. The comptroller
ascribes the failure to a lot Of Slow as
sets on which ready money could not be
realized, and says this has been the cause
of most of the recent bank failures.
The following announcement was maze
by the clearing house committee this af-
ternoon:
'rhe clearing house committee deem it
their duty to announce that their lnVes-
LEGATIONS made today have caused us 70
decide in advancing whatever sum may
be needed by the Swedish-American bank
to meet promptly any calls upon them by
the denositors.
Washington Bank Closed.
MINNEAPOLIS Dec. 29.-The Washington
this noon. 1t had capital of $10o,ooo, ano
by it's latest statement, at the close OF
business, December II, had s5ol lo4 IN loans
and discounts, $14,22S in overdrafts, Sc
cured $20,165 in stocks and bonds, $l4,4G
in real estate, and $SS,272 cash on hand
Deposits, $780,, 1872; certified deposits, Sl12,
5S7; bank deposits, $S4,937. A. c. Hougan
city treasurer, was one Of the founders
of the bank and one Of the directors
O. E. Breecke is cashier.
The suspension Of the Washington
bank vas due to the fact that its clientele
being the same as that Of the suspended
Columbia bank and Scandia bank, became
alarmed and began to draw out deposits
this morning at such a rate that the man
agement decided that the best Interests
of all would be served by closing the bank
It's condition is most excellent, the as
sets being 100000, and the liabilities 500,