The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-05
BANK TROUBLES IN ST. PAUL
Germania Bank and A,lemauia Bank
Close Their Doors.
THE WEST SIDE BANK CARRIED DOWN.
Runs on the Institutions We're the
cause OF Suspcnsion--Othcr Finan-
oini and Commercial Affairs.

st. Paul Mimi, January 4-The Cor
mana hank n s.ato lrs,,,,,to, .,,o,
s,oo 400 " '''' "ls'""''oh' Sap''"'
St"'VS' ia not omen FOR uusiRStsi this
mor.has but announced Us ass gl.inent
10 Peter NJ l<erst cas,ia,. =, 10 ,.,,i,
.t,b. h,,,,,, -, ~ " ~ I'm
""''h stoou run OF heariy TWO weeks.
It's deposit ors starting to withdraw Their
accounts AT tho Time of tho susnensi,n nj
Tho pa,,,, - ,,,.,. - VI ''e gus fe''S'N' Va
''N VI -i''Hcsota'
Inc last official statement of the bank
was December II. 1896. and showed 70.
so,,rc.s Of 4, go, n, I,at'i,s,,
'o"' - VI Sl'o-o''oeoi ihaoa"ues; Capitu
stock, SiOO,0W surplus and und v.ded prof.
ITS. SIS, 7G. q; dividends rlr,l s2onl. hank
h,,';dt,-,. ,a,, e. 49, ,,' -
D",''" IVAN ''rvc, ihhV!ouai deposits
SUBJECT to check, S3lo. lDl Az demand certiil-
Gates of dcposit s7S,o, time ,srt,fcatss az
depoo,ts sdas 0o "a. ,s,.,5no, onnn,,s a.,
u,poo''S' So'''Vi'''V' erWhei checks' sii'-
iooo2; cash caedltors' checks. SiS05il, due
10 banks. 500, II. total. 81. s25. 7Gs. Of
M ,.ar',,,,,,, -, W. ~, 80 ,
A"S He'iiausd path mas pecn ORGANIZED
Tor many years, Ex-Governor Alexander
Ramsey beng for a long time president
.rd W. iit.,,, I,t,t,,, ,,-tlo r.. -,
49, -'' ''eNS' S"S4'4ei' "a io" sea'S
ago Governor Ramsey retired aad Mr..
Bickel became pros dent. but last spring
Mr. R,cr,i r.,t,,.s, - a., ~, ,,,,',''
49, i'NN'I is''ou from lhe ~iiih' pecoHi-
ing wee president of the newly organized
Al.emania bank. lie WIS ailccea,IeI by
Gustave w.alius no nr.s,1s,, ~ tho ca
mana. The change in the official head
OF the bank is boieved to have caused a
shifting of ACCOUNTS.
Press reporter today that the closing was
me result Of an unreasonable pane and
mat the bank would be opened tor bust
ness Just as soon as the people regained
the usual good sense. 1np bank. as 4,
result of the paWchy feeling had paid
oul 10 deposutors S229,Wo IN the last nane
DAYS, ana, as they saw VIVA. the colt.lil-
atloh, oil this would lead to. the directors
had DECIDED to close for the pre- eni.
MI Wiilius says he fua. expects TO
business by the last of March.
=, Inc ALeinanI1 bank. caphdl 100000 and
navlns c4leniase similar 20 that OF tho
Gernania, Closed its doors soon after the
Other BANK ha announcs,i its assignment
me Allemania bank was organized
i u, year. beng ne successor to the Com
merclhl bank, William Bickel, the former
!ras ienl OF the Germanla bank, Joining
Iorccs WIN Albert Scherer of The Com
mercial, to organize the new bank. of
Wnlch Mr.. Schofer was made president.
me Commercill had formerly been ii Ma
tional bank, but after It's failure in the
srrihS of 1882 it was reorganized AZ State
bank ana became merged last spring into
me present Aliematlu bank. This bank
was also a suiigrer by the panicky feeling.
as the bank of Minnesota had closed,
It's last official statement at the close
OF business December H., 1896. showed re-
sources to The amount of sl,otl, N997 Lila
hiiities' Capital stock naid in, .sigo,m0; un-
div.dual donos!ts. 1893. ~, interest cer-
titicates,, SlN, U.s. %, coll certificates, SS35t
due banks and bankers. 366,lt5.2I; total
No6l ,Coo,el.
President Scheffer said that they had
been suffering from the panic the failure
being due TO the combined Withholding
ana Withdrawn! of deposits There had.
Tor some time, boen u gradual drain on
the bank. and 1t seemed TO gain added
force as soon as the announcement of the
Germania feilure was announced. a good
crowd of dcpositors soon gathered de-
handing their money, and at il o'clock Vi
was Was decided to close At once, State Bank
Examiner Mckeon being called in TO take
possession of the bank
owing TO the excitement caused by the
closing Of the Gernania and Alleinania
hanks today. many depositors started af-
ter their money in one or two other
banks, the Minnesota Savings bank beirg
the center of excitement. The cashier OF
the hank, William Bickel, Jr., Is a son Of
mo nrst vice president of the Alemanin,
a9d this fact seemed TO Inrn the minds
of the people that way. 4'he bank was
open as usual for business at 2 p. m, and
was taking advantage of the rule requir-
u1g sixty days notice before allowing
withdrawal of deposits.