Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-01-01

walked IN to take charge. Deposits
were received until the last minute.
The creditors of the bank are expected
to get their money first, as the great
majority are in need of their savings.
Assets and Liabilities.
The cash value of the assets are rough
ly estimated by the firms attorney in
Chicago, A. w. Green, at 81, 100000, and
the liabilities at 100000 to 100000.
This estimate of assets is believed here
to be too low. The brothers are blamed
for not financiering their business
properly, investing to the limit Of
their resources in various enter
prises without taking the precau-
ton of keeping reserve of quick as
sets, such as stocks and bonds, upon
which they might have realized in an
emergency such as confronted them
after the National Bank of Illinois
wreck and Atlas bank liquidation. A
longtime loan was being negotiated on
the 100000 plant at Appleton, Wis,
which would have enabled the brothers
to weather the storm, when the Illinois
bank failure put stop to that. Having
bank of their own and having bor-
rowed to the legal limit-$300, 000-from
the Atlas bank, in which they were
heavy stockholders, it was difficult
task for the Van Nortwicks to get
large amount of money from a bank
where they were strangers, even on
their money-malSing properties. Their
collapse was the result of failure to bor-
row more money.
Wisconsin Holdings Not Affected.
Appleton, Wis, Dec. 3O.-The failure
of Van Nortwick Bros bank at Bata-
via, H., which involved the Appleton
Manufacturing company's agricultural
works ut Geneva, ILL.,, and the Western
Paper Bag company's mill at Batavia,
has not yet affected the Fox river val
ley properties of the brothers, namely,
the Combined Locks Paper company
and Appleton Paper and Pulp company,
of this city, and the Western Paper Bag
company's mill at Kaukauna. Up to
date it is only the Illinois properties of
the brothers that are affected and it is
believed that the Fox river properties
will pull through unframed.
The Norton Failure.
Joliet, ILL.,, Dec. 3O.-The Edward
Hines Lumber company, of Chicago,
levied Tuesday on the 80 acres of land,
which includes the Touring and straw
mills and canal water power of Norton
& Co., who failed Saturday. This
property is situated in Loclport. The
levy is for a claim of ST ,450. The First
national bank of Joliet, which filed on
assumpsit of $4,000 against Norton g.
Co., also filed bill in the circuit court
to set aside the deed of the same 90
acres, alleging fraud and claiming that
the banks assumpsit suit, filed Satur-
day night, was 11a hours ahead of the
deed made from John L. Norton to his
wife. The deed bears date of Septem-
Der 21, 1856, and has never been re-
corded. The claim of the bank is that
the deed was made within few hours
after the failure. 1t has developed that
Norton owes large sums to farmers as
private banker.
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 $125,0oo. 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
pany, had not paid any taxes for years,
which prevented the county from rails
ing enough money by taxation to meet
its obligations.
A Virginia National Bank Falls.
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 telegraph 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 i'm
portant. On November 81, the date Of
the last report of the condition of the
bank, the assets were $263,7O4, includ
| ing bonds to secure circulation; stool,
100000; surplus, $4,000; undivided
profits, $4,000; owing depositors, SIS,
900; other liabilities, $35,ooo
Receiver Named.
Sioux City, Ia, Dec. 3o.-On applica.
ton Of w. 7. Honsinger, vice president
and large shareholder in the Farmers
Trust company of this place, G. II. Hol
lister was on Tuesday appointed re
ceiver for the institution. Tightnes'
of the money market rendered it i'm
possible for the company to meet it;
debentures when the makers of note.
on which they We're secured defaultec
payments. Receiver HOLSTER estimate.
assets at $23S,o0O and liabilities al
$135,000.
| Assigned.
Columbus, O., Dec. 3O.-Fred j. Colt
schall, dry goods, assigned Tuesday
morning to L. H. Innis for the benefit o.
his creditors. Liabilities, $4,000; as
sets, $4,000.
Pioneer Engineer Dead.
Fremont, o., Dec. 3O.-James r. Fran
-, T1l