The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1897-01-06

decided to close the bank and asked
bin to take charge.
A Kansas County Insolvent.
Dighton, Kan, Dec. 3O.-Lane county
has formally been declared insolvent by
the county commissioners and the coun-
ty treasurer has been ordered to stop
further payment of interest on the
county's bonded Indebtedness, which
amounts to $125, 900. The securities are
held by 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-
ators and paid their taxes promptly,
but the nonresident landowners, such
as the Jarvis-Conklin Mortgage com:
rany. had not paid any taxes for years.
which prevented the county from rails
ing enough money by taxation to meet
it's obligations.
A Virginia National Bank Fails.
Washington, Dec. 3O.-The failure of
the Commercial national bank of Roam
oke, Va, was made known to the comp
troller of the currency by telegra phi and
Comptroller 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 $3.50. 704, includ-
t,,Tr lie -
100000; surplus, $4,000; undivided
profits. $4,000; owing depositors, $75,.
600: other liabilities. $35 900
Receiver Named.
Sioux City, Ia, Dec. 3O.-On applica-
ton Of w. L. Honsinger, vice president
and large shareholder in the Farmers
Trust company of this place, G. H. Hoi-
lister was on Tuesday appointed re.
ceiver for the institution. Tightness
Of the money market rendered it inn
possible for the company to meet its
debentures when the makers of notes
on which they were secured defaulied
payments. Receiver Hollister estimates
| assets at $23S,OOO and liabilities at
| $4,000.
Another Minneapolis Bank Failure.
Minneapolis, Mimi, Dec. 3l.-The
| Bankers Exchange bank went into the
| hands of Bank Examiner Keny on
| Wednesday morning. Deposltors had
drawn out about $4,000 the past few
days. and President Field concluded to
close up, though he had in the vaults
nearly 80 per cent. of all the money on
deposit The bank is less than year
old, having been Incorporated last May.
| Its loans and discounts are $4,000, it's
capital 100000. and its deposits about
$4,000. Depositors will be paid in full
and fair sum will be left for stock
holders.
A North Dakota Failure.
| Grand Forks, n. d., Jan. 1.-At 4
meeting of the directors of the Second
national bank Thursday morning they
decided not to open for business. The
action is announced to be due to recent
heavy Withdrawals of depositors and
| the impossibility of realizing on assets.
! Immediately following the failure OF
the National bank of Illinois and the
| bank of Minnesota, the bank had sus-
tanned a shrinkage of $4,000, while
their deposits amounted to about ST.
600 during the past IA days. On last
Monday the bank published a state
ment of their condition at the close o!
business, December II, which showed
| loans and discounts, $15S,0S6.92; due
| from national and state banks and APP
proved reserve agents, So, 342.59; due 70
| banks and depositors, $179,749.76; re-
discounts, $4,000; capital stock paid in
$4,000, with undivided profits amount
ing to $4,000.
Going Out of Business.
| Crete, Neb., Jan. 1.-The Crete ma
tional bank closed it's doors Thursday
evening and went into voluntary ligui
dation. Deposits are only $4,000, and
will be paid on demand by the First ma
| tional bank, where money is deposited
to pay them. The Crete national has on
hand in cash $4,000, and only closed
because the business did not pay. The
stock is mostly held by nonresident
parties. The bank was organized in
1898, and was capitalized at $4,000.
Did Not Last Long.
| Webster, s. d., Jan. 1.-The new bank,
recently organized here, is already in
solvent. L. E. Egge, the moving spirit,
collected so per cent. of the capital
stock and deposited it in the defunct
Bank of Minnesota. of St. Paul, and the
Columbia national bank, of Minneapo-
| lis. The new bank was to be of $40, 900
| capital and to commence business on
or about January l, 1897. Mr.. Egge
had collected the amount above stated
and deposited the same to his credit,
and when the crash came he gave his
personal note to each and every stock
holder. The total amount involved is
| $13,500.
| The Grant Monument.