Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1897-01-21
THE EFFECTS OF CONFIDENCE
FLORIDA BANKS SUSPEND.

1
OCALA, FLA, Jan. 14.-The Mer
chants National Bank closed it's door,
this morning, and the depositors will
nave to wait for their money. Tht
only cause assigned for the failure O.
4 the bank is that it was impossible tt
make collections. The bank had {
capital stock of $4,000 The institu
ton was founded II years ago in oppo
sltion to the First National Bank O.
Ocaia., whose president, E. W. Agnew
Is under i've years sentence for EN-
bezzling bank funds.
| JACKSONVILLE, FLA, Jan. 14.-Tht
Orange City Bank, a private institu
ton, of which John Il. Stillman, chair
man of the Republican Executiv.
Committee of this State, is president
has closed it's doors, and r. s. Leavit1
of Orange county, the assignee, is now
in charge. The cashier was Arthur
Stillman, brother of the president. The
Stiliman brothers were the principa
| owners of the bank, and they have as
signed all their property for the bene
fit of their creditors. There was nc
warning of the failure, and within the
past few weeks several northern PEG
| pie who have winter homes in the
vicinity of Orange City have deposited
! various sums in the bank. No state
| ment of the assets or liabilities has vet
been announced.
BRooKsvILLE, FLA, Jan. 1.-THE
Bro.ksville State Bank has closed it,
doors, temporarily. on account of the
suspension of the Merchants National
Bank, of Ocala. The losses are pretty
general. Confidence, however, remains
in the honesty of the officials of the
bank
Boston, Jan. 14.-There is every in
dication that New England is on the
verge of another mill curtaiIment, al
though one not so extensive, probably,
as that which ACQUIRED during last
summer. Hon. T. jefferson Coolidge,
treasurer of the Amoskeag Mills, saws:
Business has been SO bad for the
last few weeks that curtailment of
production seems almost necessary.
The Fall River mills appear to be the
greatest sufferers, but all lines are suff.
erlng from overproduction. am in
hopes OF some improvement in the
spring, but as yet there are no signs of
any. Theagreat demand for our wheat
is very favorable sign, and should
hNAP SAO oiOOdtlOA. llo tmpOtGTlSu
ment of the country pi events the PEG
pie from using goods of which they
were formerly large consumers, and in
consequence we have an oyerproduc-
tion in all commodities. The only
remedy apparent is curraiiment of
production, and think it will have to
come shortly in some of the mills which
have been unable to sell our good.
If curtailment is made each mill
will probably take its own course
Some mills may think it cheaper to
shut down entirely for time. while
others may think it cheaper to keep
running on forty hours, or less, a
week"
The Staunton Life, Insurance Com
pany filed a deed of assignment on the
18th. The deed was executed by Davis
A. kayser, president, and Geo p. Nc
Neill, secretary, to r s. Ker, attorney
An arrangement has been effected with
the National Life Association of Hart
ford, Conn for the reinsurance OF the
policy holders. The enumerated assets
of the company are $4,000. Liabilities
not known. The assignment is due to
the distrust of Staunton insurance in
engendered by the misfor-
tunes of some previous ones, by which |
it was impossible to obtain new insur
ance or to retain the better class of the |
old The assignment lcreated no ex-
element in Staunton. as it had been
for some time.
CINCINNATI, Jan. 18-The First Ma.
tional Bank of Newport, KY, closed |
it's doors this morning. The capital |
stock OF the bank is 100000.
LOUISVILLE, KY, Jan. 1S-The Ger
man National Bankdid not open it's
door this morning and the announce
ment was made that the institution
was in the hands of bank examiner.
The capital stock is $251 500, with a
surplus of $31, 900.
ST. PAUL, MINI. Jan. 19.-The Min
aesoIa Savings Bank has made an as
'ignment- Assets 100000; liabilities
s210, 900.
The Seaboard Fight Renewed.