Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-01-05

The u r3rmdOleti JlAo = Il ~ e-A
vss-srdav, was Capitalized at
100000. and Had a Re
rive OF s58, 1871 On De-
.suber II, the Last State
,rea5 was Made, and it Showed
-.5 Bank in Good Condition.
,-ranges in the Management Of
.-s Bank Given as the Reason
+- "a Run that Swamped the In
.--u+ion-Tha Other Two Follow
sfon Account Of Runs, Started
rv the Germania's Trouble.
S. Paul. Mimi, January 4.-As a
result of the closing Of the Bank
. Minnesota. two weeks ago. which
created new distrust among bank de-
ars and started runs on a number
..., banks, that were reputed not
-. .e as strong as depOsitors wished,
~ 81. Paul banks, the Germania,
PHI. auemania and the West Side none
rem national institutions, and all
a.y associated, to-day closed their
one being now in the hands of
e bank examiner and the others
making assignments. During the
t.u.r.at has interviewed since the clos
r- he Bank of Minnesota, the Ger
bank paid out S225.00 10 fright
. ieDOsitOrS. and early to-day the
re drain and made an assignment
q. cashier. Peter III. Kerst.
The Allemania bank. which, like the
cu3nia, had a large clientage among
PHI. Germans. and whose vice president
r. formerly been president of the
C.-mania then became the target for
lively a run as could be seen during
uic times anywhere. People crowd
about the doors and fairly fought
.-a a place i'm the line before the pay
r- teller's window. The bank officials
-.ized fully what such a run meant,
aud promptly called on Bank Examiner
E.rv1n TO take possession of the bank,
and that official is now in charge.
The West Side bank. a small, but
possibly stronger bank. cleared through
the AIlemania. and to-day its clear
ings were returned by the latter insti-
tuition. Following this there was a
decided run inaugurated on the bank,
and at o'clock this afternoon the bank
onicials closed the doors and called
meeting of the directors to decide what
action 10 take. Their decision was
apparent late in the afternoon when
1nac filed a deed of assignment 10
Charles r. Staples, the president or
.a. lnk. Considerable public money
is t.i up ia the three institutions. but
there is an ample supply for all imme-
s-s needs in the other banks of the
city,
ST. Paul. Mimi. January 4.-The
Germaria Bank. a State institution,
capital St00. COO. did not open for busi-
ness to-day. but announced its assign
ment 10 Peter NJ KerSt. who for the
past year or two has been the cashier
Of the bank. The announcement
stated that this action was taken after
fun consideration of all the phases OF
the situation, as il was deemed best Tor
an concerned that this action be taken.
The bank stood q run for nearly two
weeks. it's depOsitOrs beginning TO
Withdraw their accounts at the time the
Bank of Minnesota closed. on Decem-
ler 81. The last official statement of
t.e condition of the bank was made
December II. 1896. and was as follows:
Resources loans and discounts, S9lo,-
+-l-S. oyerdrafts. secured and unse-
cured. s. $500. stocks and bonds. SSi,-
s9rs5. banking house, S253,S411O;
furniture and iNings. S1O.32S; other
rersee SI5.14- a: taxes paid, $2.13l.9O;
due from other banks. S59.259.IS;
checks and cash items S2.555.I5; eX-
changes for clearing, S2ItOE46; cur
r.rcv. $40 .339: nickels and cents S2i4.-
. gold. Sl03.560; silver, 4.Sit25;
utaL Si625. .76S.01: liabilities. capital
-.ef Sff10oo, surplus and undl1lded
rea.s 25ST9721.
Dividends urpoii. s.. bank building loan'
s. individual deposits subject to
...k NEIqiA. demand certificates OF
C...s.I S. sql. time certificates of deposit.
sHtg. certified checks. Sll45oo2; cash
creditors checks. SLerzu. due 70 banks
Hrl. total $16-5.5t>.o
".- Germanl3 bank has been organized
... many years. Ex-Governor Alex. Ram
being ro- 20 long time president. ana
m E.ckel cashier. A few years ago
Governor Ramsey retired and Mr Bickei
.me president but last spring MI
s. retired from the hank becoming
r president Of the newly organized Al
'-r.u bank. T5c was succeeded by Gus
Wuius as president Of the Germania;
Monk being vice president and T..
-r Nr~-t cashier. The directors are Gus
-.N ..lrius. William B'cke' Albert Span
sar.re. Jos. Haaig. j. B. Hermann. +.
-rsford. r. "a. Henk. q. T.. Holman,
Hurst Adam Eeyer. w. n. Harris.
ST. Horst. John Klein and William
loruztlon. The change I'm the official
,-.7 af the bank last year is believed 10
.e elused "a shifting of accounts.
President Wuuus told an Associated
Press reporter to-day that the closing was
result of am unreasonable panic and
'. the bank would Doe opened for bust
l.-s just as soon ass the people regained
t.r usual cool sense. The bank. rs
s-.- ol the panicky feeling had paid out
" isnosit0rs $50 600 iu the last nine days.
ana a~ they saw what the continuation Of
would lead To- the directors had de-
..l to close for the present. Mr.. VIII
Tins says be fully expects TO have the bank
''a.o,1 and ready for business by the
.-. %. March,
81. Paul. Minn.. January 4.-The Al
"mduia Bank. capital S400 GOO and hav-
.aE % clieutage similar to that of the
1ermania. closed it's doors soon after
'He other bank had announced its as
s.-ument The Auemania Bank was
orsanized last year. being the successor
no the Commercial Bank. William