Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1897-01-18
BANKS STILL GOING UNDER
Two Banks Close Their Doors IN Ken
tucky To-day. One at Louisville,
the Other at Newport.
MINNESOTA SAYINGS BANK ASSIGNS
Boston Stock and Grain Exchange,
with Many Branch Offices
Throughout the East, is
Forced to Close.

Louisville, KY, Jan. 18.-National Banl
Examiner Escott this morning closed th'
German National bank, of which NJ. Nc
Knight is president. It's capital is $261,
500, with surplus of $4,000. The banl
is an old one, but for some time hns beer
regarded as unsafe. In signed state
ment President Mcknight says depositort
will probably reorganizs the institution
The last statement issued by the bank
was on December II, 1896, and made a
very bad showing. The 25 per cent rule
had been violated by about per cent.
Under the head of resources, it was given
ont that the bank held $113,025 in securi-
ties, stocks, etc. This was very unsatis-
factory as "etc." was not considered def
mite enough and since the statement was
issued Withdrawals have been steady.
President Mcknight has been engaged
in a number of financial operations.
COULDN'T MEET DEMANDS.
st. Paul, Minn., Jan. 1S.-The Mime
sofa State Saving banks closed this morn
ing and filed deed of assignment nam
ing VIM. Biokel as assignee. An affidavit
was filed stating that the assets would
amount to about $250,0O0, while the liza.
bilities are in the neighborhood of $780,
600. The eficers of the bank deemed this
step the best under the circumstances to
protect the depositors. The recent fur
ry in banking affairs caused the with
drawal of deposits to such an extent that
although the bank required sixty days
notice it was unable to raise money to
meet the demands.
STOCK EXCHANGE FAILURE.
Boston, Mass, Jan. 1S.-The Boston
Stock and Grain exchange, with offices in
nearly all principal New England cities,
closed up business to-day. Creditors will
not suffer, it is said.
SURPRISE FAILURE.
Newport, KY, Jan. 18.-The failure of
the First National bank of Kentucky to
open its doors this morning was a sur
prise to business. While statement was
given out by the officers that no one
would lose anything, there were all sorts
of rumors floating about. The first evil
dence of weakness was the refusal of off.
GERS Saturday afternoon to pay $4,000 to
Treasurer Bellue, of the school board,
which was recently deposited. Its capi-
tai stock is 100000. Its president, John
Trapp, who was elected last fail in place
of Henry Jenkel who retired on account
of advanced years, is resident of Day
ton, KY, and one of the wealthiest men in
that part of the country.
George Youtzey, brother Of the cashier
of the First National bank, assigned indi-
vidually to the Coyington Trust COM
pany. The Standard Carriage supply
company, of whloh George Youtzey was
president, also assigned. The capital
stock of the Standard company is $780,
600. The assets and liabilities of the
Standard company are not given.
The directors of the bank were in ses-
sion all day Saturday, on which day the
bank opened with only $500 in it's
vaults. At that meeting Cashier Youtzey
resigned and his resignation was prompt
ly accepted. Banks in Covington agreed.
Saturday, to loan the bank $4,000, but
later the proposition was declared off.