The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-12-24
SINGERLY'S BANK FAILS.
TRUST COMPANY ALSO sUsPENDs
PAYMENT IN PHILADELPHIA.

PAIN EMIT IN PHILADELPHIA.
-
The Chestnut Stree, National n,pk ana the
-. 49,. -, -, ,.,,,-, r,,c
pe"pA' N's"' 'NeF e w
Carving Mr. einseriSs Anterprises-An
EGSrt 70 Pledge the "Rscord" TO save the
m,nk.s Creaiterp nay Prove successfuI.
FHiLApkLPHiA ueo o. AiIor = mon'hs
struggle 70 aVoia q cohapse. tno Cnesthut Street
Nationai Sang closed its doors tnis morning
ana passeo INTO the henos Oh the Neuonei Bank
Examiner. AZ tno same nmo inc onesthut
o.reet trust savings Funa COMPANY suspend
u payments ihe Two ihs.itu.lons are UNI
uet inc sano n"neee"en.' Co,. W'ham sing
er.y' p,opt.o.or VI 'ne khn"uelphi. <ntco'o'
peing the PRESIDENT OF eeen. Ihe pank was
iofoeo " oiose peoease ~ ueciino IN 'aiueo Oh
seooHs anu oohue VI oe.oo"s o.nsoiiy pulp
anu paper company Oh HiApon' hao.' "hicn were
socspeea M s.ouLi.y = money eousncea oy inc
jam "hon - S'ouuosot u III so'e e".o
eonLs Pouno' nov tne proouct may 20 oousht
y = eehts = pouhu. u .rue' company sus'
penoea payment because is eneirs are IN.
voiVeo WIN thoseo OF tne oenk. itis also eaia
.'at tne eruss eonioehs mus h"o "any iosihe
lnnes,mente.
nshk examiner ".aiemm NJ nerot TOOK charge
ottno oahk. ne mad known OF its condition Tor
some time' ana comptromer hcReis nas Deen
'u'y in'orneo Oh inc aetaiis OF tho business LOT
seVorAi monlhe' II was 'housht py them ana
ps the omcers OF the oahk tnat arrange
menus might DO maze oy "nien inc ihsti'
eution could DO Kept open, ana COL sineeriy
Deievea this uhtli last n'Rnt. NO statement OF
inc hapiltles o. asse's mas poeh maze YET, put
u oank o"es IN inc he'shoornooo OF %''ooo.-
GOO. Arrangements were made on wednesday
TO raise 80. OOO, 900. but 1t was found that this
lowed.
Tho banking community had known for sew.
pub S', was Oh wholly shs is''i uupraps spSha for tho De' s an.
noupcemept of Suspension. which was posted
up on the entrance to the bank building, a hand,
TO-DAY to o-a draw S' money for rho holiday i'd pu peb.
Thoy found the iron gratinss in front OF the
entrance closed and an attendant behind them.
collected about the entrance, blocking Chest
lns oAhk, ana tney Rept Ihe people moving. inc
police had little difficulty in clearing the way,
women mnnv Of them sepositorss stood IN frnn,
II became Known sar,v IN Iha dav t,.t M
other banks were Affected. and dsnositar. in n
other banks showed little inclination to with
draw their accounts. nv mon what exc;teuent
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there had been subsided and tho bankers no
longer feared a panic. President singerly said
Tonight that mn etatement cou,d ba made va,
'H"' W." ..A"o so''
we are now at work. he said, trying to
secure tho Indebtedness OF the bank with a
view 70 gong into voluntary nquidation.
Co. Singerly 10 said to be Interested In more
%PH nv hns e 1ndn ,S any R StnsG man a. Rihiindelphtn.
since 1877; He has built q thousand houses,
Rhsre; including the bank building which bears
ton Worsted Mile here. . farm, machinery
mabuiact3ry IN Norristown, ana IN several
philadelphia enterprises, among which are:
lemons store, OF. Cheetnmt street; the Philadel-
pnia Fnoto- Ehgraying COMPANY; the Item.
nr3ndt Engraving company, Q similar plant In
battimore, ana Litt brotherS store mere. he
iofEeriy owned the ienipie Eheatre' when oc-
cupien Tue eite OF tne oanR ouiioing; y was