The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-19
MORE BANKS GONE
TWO IN KENTUCKY AND ONE IN
MINNESOTA.

tional. ut Louisville, KY, Is What Every
body Has Expected-One More Added t
the Long List of st. Paul FaiIures-Th
Usual Causes Assigned for the Failure
-Othe Failures OF Minor Note.
Newport, Ky, Jan. 1S.-The failure D
the First National bank to open its door
this morning was a great surprise L
the business men of the city. While
statement was given out by the officer
that no one would lose anything, Their
were all sorts Of rumors flying about
Fortunately the integrity OF the officer
is such that no suggestion of wrong do
ing found credence. The first eviienc
of weakness was the refusal Of the Off
GERS TO pay, on Saturday afternoon
$1,000 10 the treasurer of the Belvill'
school board, which he mad but recently
deposited, and which he had been al
vised he ought 10 get out. This was no
made public until today.
Cashier w. B. Youtzy has been witt
the bank since its organization in 1873
The capital stock of the bank is 100000
Its president is john Trap; vice-presi-
dent Joseph Wright. President Trap
who was elected last week in place OF Dr.
Henry GunlIel, who retired on account
of advanced wears. is a resident Of Day
ton, Ky, ard Is one OF the wealthies'
man in the &C unit y
Later in the day George foutzey, q
brother of the cashier Of the First Ma
iional bank. assigned individually to the
Covington Trust company. This was
followed by the Standard Carriage COM
pany, of which George Youtzey was
president The capital stock OF the
Standard company is $4,000. The as
sets and liabilities of the Standard com
pany and of George Youtzey individually
are not given. The assignment OF both
is due TO the First National bank clos
ing its doors today.
IL is learned now that the directors
were in session all day last Saturday, on
which day the bank opened with only
$500 in it's vaults. At that time 1t was
known that the bank could not open its
doors today. At that meeting Cashier
Youtzey resigned and his resignation
was promptly accepted. The banks IN
Covington agreed on Saturday afternoon
20 loan the bank 100000, but later the
proposition was declared off Congress
man Berry who holds $4,000 Of the stock
made special appeals, but all calls for
help were in vain. The directors, H. q.
Gunckle. John Griese, ]. +. McCracken,
George YoutZey, Charles Spinks, j. a.
Winter. John Trap. Charles Weideman,
and John Wright all offered to give their
individual endorsement for the s25O,0oO
of liabilities, but the cash could not be
secured with which to continue the bus
mess.
MIR o. P. Tucker, United States bank
examiner, will arrive tomorrow 10 take
charge OF the First National bank.
the Standard Carriage company's as
signee is the Covington, KY, Trust COM
pany. IS capital stock is $4,000, owned
in equal parts by George Youtzy, 7. b.
Youtzy and Henry Higgins. Nominal
assets of the company are S130,736; la
bilit:es, Sac $50. This leaves a surplus OF
sS46o6. George Youtzy says the concern
viii pay dollar for dollar. In his individ-
ual assignment, Mr.. George YoutZy's as
sets and liabilities are very small.
Cincinnati, Jan. 18.-No excitement
was created in Cincinnati by the New
port, KY, bank failure. Most Of the
banks here claim to have known that
the bank has been in a straitened condi-
ton for some time. 1t is said that
President John Trap, who was elected
president last week, is sick at home in
consequence of the failure and cannot
be seen. Cashier Youtzey is also indis-
posed and in fact, none of the officers
deposit of SIS, 900 in the bank to hold
81 900 of stock and to be endorser for
Cashier YoutZey TO the amount of $50
900. Congressman Berry also has a large
interest in the bank, being interested
with the cashier in real estate.
Washington, Jan. 1S.-The comptroller
OF the currency has received a telegram
that the first National bank of Newport
Ky. has suspended. The bank had a
81 =-Ec0 !
last report. December Il, it had surplus
and dividend profits amounting to S779,-
1853: owed deposits SH9 sos; owed other
banks about $4,000
ONE AT LOUISVILLE.
Louisville. Ky. Jan. 1S.-National Bank
Examiner Escott this morning closed
the doors Of the German National bank,
J. NJ. knight, president. The capital
stock Of the institution is S2l,500, with
a surplus OF $1,000. The banl- is an old
one. but for some time has been regard
ed as unsafe.
In a signed statement President !
Mcknight says that depositors will be |
paid in full and that it is probable that !!
the stockholders will reorganize the in |
stitution.
The last statement issued by the hank. |
December II. 1895, made a very bad /
showing. The figures showed that the |
% per cent rule had been violated, by 4
about per cent. Under the head of r. 1
sources, at was given out that the bank !
held S11S.025 in securities. stocks. etc.
This was very unsatisfactory, as the |
electra was not considered definite
definite enough and since the statement
was issued the Withdrawals have been
steady. President Mcknight. OF the /
bank. for years has been prominently
identified with the banking business and /
involved in a number of outside financial
operations.
Examine, Fscott, who took charge of !
the banks affairs, made the following
statement
There has been no. run on the bank.
but IN View of losses sustained through
loans. shrinkage in values.
etc, and a gradual loss of business. To-
sether with q lack of confidence in the
of the bank. the comptroI- I
or believes Il 70 be to the best interas.
both of the depOsitors and the stockholm
ers' 10 close the bank and liquidate its
anairs through a receiver This failure
should not create distrust of any other
banks IN the city. as they are all in good |
condition and strong in their cash 70
serves. For some time the bank has
oeen weak. but tAere was nothing in its
condition until lately that warranted me
in closing il
cannot now state the assets or la
nilties. as We have hardly got well to |
work on the books. nor can ] saw mora