The Forrest City times., 1897-01-01
MORE BANK FAILuRrs

'ns .oinmo'a and Washingtoa S,,
 Banks of Minneapolis Forced to sn'rl Operations in order that the In,spss
 Their Depositors Might be C.ns.e
 Full. fsyh
 MINNEAPOLIS, Minn., Dec. so Columbia national bank. wbos ia lent is Charles Kittleson psS treasurer. and whose cashier 1sa' seph Bobleter, also an ex-s,ats 'e urer, failed to open its doors , usas day morning, and George M ,e'seH cs deputy comptroller of the cna who happened to be in the ci,, ci,encE charge. Cashier Bobleter ;ss' s,;s .o0s the liabilities, not including ths ua' tai stock, etc, and including n,l sap' pally deposits, amount in ronnd 'a'' bers to S247,o while tha nun mostly notes, amounted to s,,o@as a''a He said that he had no doubt bn. w the depositors would in time he as. in full. sa
 The state is creditor to the ano.. of Sl6, ,000 and the county to abors sas .a 900. The city had Sl, 200 on dsa.s., At the present time, aceordinr Cashier Bobleter, there is ss5 ooo " :" in he vault, and SlOo,OOO will h. asp aas lected within the next thirty d. VI The suspension was ordered for .r purpose of protecting the maio-;,r -, 7, the creditors. The banks canitsl '. Y S2oO, 100.
 The suspension of the Scandia Ma, day and the Columbia ves,arss morning, created consternatlon amoa, the patrons of the Washington hal and such run" ensued that the bans was compelled to close it's doo., shortly after noon. Depositors dr.r their checks directly at the bank ,ra through the clearinghouse at speh rate that it was evident that the i,. terests of all the depositors demapasa a suspension of business. The bapL knew that its strength would h. sorely taxed yesterday and had maa. arrangements to get ss0,0O0 in cash which would have tided it over safely but the money was not forthcomia, yesterday morning, and after vain attempt to stand the demands, Casbis, Brecke telephoned Bank Examine Kenyon that the officials had decided to close the bank and asked him h take charge.
 Cashier Brecke stated yesterday s,, ternoon that aside from the matter of cash on hand the bank was in excel. lent shape. Exactly what will b. done has not yet been determined. l. is very likely that the suspension will be only temporary, as the resources of the bank are in such shape. accordin, to Mr Brecke, that it's depositors can be paid in full in comparatively shori time, and 50 cents on the dollar within two months. In round numbers tn liabilities are S50o, GOO, and the asset S6Uo, 900. Of the latter only sl4, 300 as real estate. The bank had some cit, deposits, &, 900 of state money ant Si,000 of the county's. The banks oi ficials are: president A. c. Haugan who is at present city treasurer; vice president, K. s E. Johnson; cashier 0. E. BreclSe.
 The banks loans and discounts ar, S507, l45 It's deposits are S45s, 900 an it's capital stock Sloo,000.
 The announcement of the failure Q the Columbia and Washington bank caused a considerable furry at nearl i all of the other banks of the city The biggest run was on the Farmer and Mechanics bank, the largest ss' ings in institution in the northwest wit deposits of over six million dollar This bank is said to be entirely sai' 1t stood a constant run of eight daJ during the panic of 1893.