Warren sheaf., 1897-01-07
RECENT FAILURES.
Many Banks and Large Business
Concerns Forced to the Wan.

/
Comptroller Ecksls says Suspensions were
Due to Local lCauses-Condltlono Of Banks
Throughout tho Country Go cd =
An Insolvont County.
Washington, Dec. 3o.Comptroller
OF the Currency Eckels said Tuesday
afternoon that he feels no apprehen-
sion over the bank failures which have
occurred of late. Mr.. Eckels, when
asked by representative of the Az.
sociated Press az to the general bank.
ing situation. said: sss
OF course bank failures are more or lac.
disquteting, but those which, have occurred
nave little or no general significance at.
tached to them. They were due largely to
LEGAL causes wholly unconnected with the
general condition Of the banks throughout
the country at large. The case Of the
Atlas bank was not failure at ali. but
was a mere voluntary liquida ton, every de.
poster being paid in full. The two failures
Tuesday are of minor importance, in each
case the banks capital being only SOC. .0Oo
AZ against these few failures based on
local causes. the general condition of the
banks IS excellent. The reports received
under the last call. that of December II.
are uniformly BILE and show an aver
! age reserve held of considerable above the
25 per- cent. required by the law One Of
the last reports, that of the Brooklyn banks.
shows the average reserve to be 34.O2 per
cent. and most Of the reports run Ave or
ten per cent. above the legal requirement.
In each case, too. the assets in detail make
an entirely satisfactory showing as COM
pared with the liabilities. On the whole. II
is evident that tho national banks to-day
are as stable as they ever were. and the
sporadic failure Of a bank here and there
through defects peculiar to the failing
bank is of small Importance. wholly with
out general significance am advised from
Minneapolis that the failure there has oc-
casioned no disturbance beyond the insti-
tuition concerned" s~%
Tho Van Nortwlcks Fall.
Geneva, ILL.,, Dec. 29-William NJ. and
W. NJ. Van Nortwick, bankers at Bata-
| via, ILL.,, made an assignment in the Kane
county court here Monday evening. All
their property, both in the Batavia bank
and stock in the large corporations in
which they are interested were turned
over to the Equitable Trust company, of
Chicago. There were three assign
ments in all. John S. and William M.
assigned all their personal property and
homes, and then assigned as firm. The
failure was due to the liquidation of the
Banks Of Superior, Wis.
West Superior. Wis. Dec. 20. - The
Bank of Superior, doing business a. the
east end, suspended on account of a
run with which it was threatened after
the recent failures.
Another Voluntary Liquidation. ~
Kansas City, Mo-, Dec. 29.-The Nc
Coy Banking company of independence
went into voluntary liquidation Mon
day. The bank refused to receive de-
posits in the morning and began pay
no run on the bank, and the directors
put an advertisement in the Independ-
ence newspapers asking depositors to
come after their money. The reason
given for the bank going out of busi-
ness is that it's president. William Nc
Coy, is too advanced In years to man
age its affairs longer. He is IS years
| old. The capital stock of the bank is
$50,000. On August 10, when the last
| report was made; it owed to its de.
| positors $55,1SO. It's outstanding loans
amounted to $72. .262.
Suspension Of the Scandia Bank.
Minneapolis, Mimi. Dec. 20. = The
Scandia bank suspended Monday. It
was one of the smaller banks of the city
and was loaded up with real estate on
which it could not realize. F'3
.. $AzCars Company Closes Shop x ..4sa5
! Laconia, N. H., Dec. 29.-The Laconia
Car company was forced into insolvency:
Monday. The total liabilities are placed
at $617.000 and assets ut $4O7. 900.
Minneapolis Banks Suspend.
Minneapolis, Minn., Dec. 3U.-The Co.
lumbia national bank, whose president
is Charles Kittleson, ex-state treasurer,
and whose cashier is Joseph Bobleter,
also an ex-state treasurer. failed to open
its doors Tuesday morning, and George
M. Coffin, deputy controller of the cur
rency. who happened to be in the city,
took charge. Cashier Bobleter said
that the liabilities. not including the
capital stock, ETC., and including prin-
cipally deposits, amount in round num-
bers to $247,0OO, while the assets, most
Fly notes. amounted to $3.50, 900. He said
that he had nosdoubt but that the de-
positors would in time be paid in full.
The state is = creditor to the amount OF
$4,000 and the county to about SIS, 900.
The city had 81 200 on deposit. Al the
present time, according to Cashier Bob,
Letter, there is $4,000 cash in the vault.
and $1OO, ,OOO will be collected within the
next 80 days. The suspension was or.
dered for the purpose Of protecting the
majority Of the creditors. The banks
capital is 5000 900.
| Closed Its Doors.
The suspension Of the Scandia Mon