The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-01-02

Coy, Is too advanced In years TO man
age its affairs longer. He is So years
old. The capital stock OF the bank is
$4,000. On August 10. when the last
report was made. II owed TO its de
positors $55. It's outstanding loans
amounted to $72.262.
Suspension of tho Scandal Bank.
Minneapolis. Mimi. Dec. 20. - The
Scandia bank suspended Monday. IL
was one OF the smaller banks of the city
and was loaded up with real estate on
which IL could not realize.
A Car Company Closes shop.
Laconia. n. H.. Dec. 20.--The Laconia
Car company was forced into insolvency
Monday The total liabilities are placed
at $017.000 and assets al s407 900.
Minneapolis Banks suspend.
Minneapolis. Mimi. Dec. 3O.-The Co
luInbia national bank, whose president
is Charles kittleson. ex-state treasurer,
and whose cashier is Joseph Bobleter,
also an ex-state treasurer. failed TO open
liz doors Tuesday morning, and George
NJ. Coffin. deputy controller OF the eur
rency. who happened TO be IN the city.
took charge. Cashier Bobleter said
that the liabilities. not including the
capital stock. etc. and including prin-
cipully deposits. amount in round num-
bers 10 $247.000. while the assets, most
~ notes. amounted 10 $4,000. lie said
that he had no doubt but that the de-
pcsitors would in time be paid in full.
The state is n creditor TO the amount OF
$4,000 and the county TO about $1,000.
The city had $1,000 on deposit. At the
present time. according TO Cashier Bob
Letter, there is $4,000 cash in the vault,
and 100000 will be collected within the
next 30 days The suspension was or
dered for the purpose OF protecting the
majority OF the creditors. The banks
capital is S20O.000.
Closed It's Doors.
The suspension of the Scandal Mon
day and the Columbia Tuesday morn
ing created CONSERVATION among the
patrons of the Washington bank and
such a run ensued that the bank was
compelled 10 close its doors shortly
after noon. Depositors drew their
checks directly at the bank and through
the clearing house at such a rate that II
was evident that the interests of all the
depositors demanded a suspension 81
business. The bank knew that It's
strength would be sorely taxed, and had
made arrangements 10 get $4,000 in
cash which would have tided il over
safely, but the money was not forth
coming Tuesday morning, and after
vain attempt 10 stand the demands,
Cashier Brecke telephoned Bank EN-
aminer Kenyon that the officials had
decided TO close the bank and asked
him to take charge.
Kansas County Insolvent.
Dighton. Kan. Dec. 30.--Lane county
has formally been declared insolvent by
the county commissioners and the coun-
~ treasurer has been ordered to stop
further payment OF interest on the
county's bonded Indebtedness. which
amounts 10 $4,000. The securities are
held 10y 40 corporations and individuals
in New York and New England and
have been quoted almost at par. Chair
man Helmie, OF the county board. de-
clared the settlers were not repudi-
ntors and paid their taxes promptly.
but the nonresident landowners. such
pany. had not paid any taxes for years,
which prevented the county from rails
ing enough money by taxation to meet
its obligations.
A Virginia National Bank Fails.
Washington. Dec. 30.--The failure OF
the Commercial national bank of Roam
oke. Va. was made known TO the comp
trnIIar 90 tho nnrrop,v Ia, ol,,rr,,,L .,,,t
Eckels immediately wired
Bank Examiner Sands TO take charge.
The failure is attributed partly TO spec
ulation incident TO the Roanoke boom.
Mr. Eckels says the failure is not inn
portant. On November 81. the date Of
the last report OF the condition Of the
bank. the assets were S263, 704. includ-
ing bonds 90 secure circulation; stocl'.
100000; surplus. $4,000; undivided
profits. $4,000; owing depositors. SIS,
600; other liabilities. $4,000
Receiver Named.
Sioux City, Ia, Dec. 30.--On applica-
ton OF w. +. Ilonsinger, vice president
and large shareholder in the Farmers
Trust company Of this place, G.. II. Hol-
lister was on Tuesday appointed re
ceiycr for the institution. Tightness
of the money market rendered IL I'M
possible for the company 10 meet is
debeniures when the makers of notes
ON which they were secured defaulied
Receiver HOLSTER estimates
assets at S23S.o00 and liabilities at
$4,000.
CHARGED WITH MtIRDER