Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-01-19

Great Surprlse-The st. Paul
Bank was a Savings Institution
and Quit to Save the Depositor.
Louisville, KY, January 1S.-Na-
tional Bank Examiner Scott this morn
ing closed the doors of the German Ma
tional Bank, J. NJ. McNight, president
The capital stock of the institution Is
S251 500, with a surplus of $3l GOO. Ihe
bank is an old one, but for some time
past has been regarded as unsafe.
The last statement issued by the
bank. December II, 1896, made a very
bad showing. The figures showed that
the % per cent. rule had been violated
by about S per cent. Under the head
of resources it was given out that the
bank had S11302529 in securities,
stocks. etc. This was very unsatlsfac-
tory as the "etcetera" was not consld-
cred definite enough and since the
statement was issued the Withdrawals
have been steady. President Nc
Night. of the bank, for years has been
prominently identified with the bank
ing business and involved in number
of outside financial operations.
In a signed statement President NC
Night says that depositors Will be pala
in full and it is probable that the
stockholders will reOrganize the instl-
tuition. 60,
Newport, Ky, January lS.-lhe Iah-
ure of the First National Bank OF New
port to open doors this morning was
a great surprise to the business men OIL
the city. While statement was gwen
ont bv the officers that no one Woulu
lose ANYTHING there were all sorts OF
rumors flying about. Fortunately the
integrity of the officers is such thal no
suggestion of wrCng doing has lounu
credence. The first evidence OF weak
ness was the refusal of the ofhcers 10
nav on Saturday afternoon $1,000 10 the
treasurer of the Bellevue school DoaFu,
which il had but recently depOslIeu
and which he had been advised ne
ouobt 10 get out. This was not made
public till to-day .,.t
Cashier T. b. YoUtsey has Deeh @ "!su
the bank since its organization III 90
The capital stock Of the bank IS f-JV'-
O00. It's president is John frapp; wee
president Joseph Wright Freslaent
Tramp who was elected last week III
place of DR.. Henry Gunkel, VINO reIirsu
on account of advanced years Is a res
ident of Dayton, Ky, and is one OF the
wealthiest men in the county.
CINCINNATI. o.. January le.-No eN-
citement is created In Cincinnati by the
Newport Ky. bank failure Most oil 'ne
hanks here claim to have known that the
hank has been in straightencd condition
for some time. 1t Is said that President
robn Tram. who was elected president
last week. is sick at home i'm consequence
Of the failure and cannot "'
cashier Youtscy is also indisposed. and
in fact none Of the officers can ne seen.
Mr.. Tramp is said TO have a deposit Oh
s15 600 i'm the bank. to hold $llvl oil s'ocA'
and 10 be endorser for Cashier AoutseY 10
tho amount of 100000 Congressman Berry
also has a large interest in the bahW' DC
ire, interested with Cashier Ioutsey ih
land company. 1t is charged that hea'S
looms tn Youtsey are among the causes
of the failure.
ST. PAUL. Mimi, January lS.-Ine
Minnesota State Savings Bank CLOSED l'7
doors this morning and filed deed OF as
sienment naming William Bickel as as
sienee. An affidavit was filed stating th'l
the osset, would amount TO about S2N.'0''
,.nil. the liabilities are in the neighoor-
hood of S22O.OlO The officers oil the Dams
d.cred this step the best under the cir
cumstances to protect the depositorS' "e
vent furry i'm banking affairs caused
Withdrawals Of deposits to such an extent
that although the bank required lhe sixty
da,.e, notice. It was unable TO raise
enough ready money TO meet demands.
poSTON. January 1S-The Boston stock
ord Grain exchange with officers in nearly
all IN eprincipal New England cities clos
cd nm business to-day. The creditors VIII
not suffer. it is said.
Poor business rersulting from the hHah-
cial depression of the past year Is gwen
nc the cause of cessation of business.
rise in the market last week is said 10 nave
r.ocfnitoted the action. The exchange is
a. Massachusetts, corporation. with iis cap
ital all paid in. and has been doing ousl'''.'S
for several years. The members ol ',''
firm announce that the libilues are Simply
normal and tha thy prompt SUSPENSION VI
operations further indebtedness mas ",''
avoided and all the claims can be sel'e''
A. meeting of the stockholders has been
oal1ed TOR the first Monday in February
whom the affairs of the corporation VIII DE
definitely settled.
WATERLOO Ind, January le.-ll. \.
Cornberrv. the Garrett banker and al
iocod snbezzlap. who has been twice arrest
de- during the past week on grand jury in
5i.+,,oots and who has been the central
e-eyre in the financial complications Of
his county. died early this morning OF
bear- failure. There were five indictments
AGAINST him. which caused his arrest last
saturday. and late Saturday evening ne
was released on S70O0 bond.
COLUMBUS. o., January lS--Ine Co
lumbus Cabinet Co. has gone into the
hands Of Charles r. Wheeler las receiver.
Liabilities. $4,000. assets said TO be S@'V90'
but money is wanted to pay claims due.
NEW YORK, January ls.-The failure
NJ Touis Nelson has been announced on
the Consolidated Stock Exchange. The
susnension is considered unimporiant and
is attributed to being short Of Sugar and
St. Paul
CINCINNATI O.. January iS-T ). Nc
Namara. sr.. doing business as the Phoe-
niy Carriage Works. assigned to-day TO
Robert Ramsey. The assets are $i)0y;
liabilities the same.
,--r, ,r,r-o GIN -ATOpCIITp