Omaha daily bee., 1899-12-19
TRUST COMPANY CLOSES ITS DOORS.
Capital S2,5OO,OOO, and Profits and
SurpIuN Much Moro.

NEW YORK, Dec. 1S.-The Produce Ex-
change Trust company of this city has
closed its doors. A motto upon the door
says that the company has suspended pay
ment pending an examination of it's books
The suspension of the firm of Henry
Allen G. Co., bankers and brokers, has been
announced on the stock exchange
The following statement of it's condition
was issued by the Produce Exchange Trust
company today: Assets: Cash on hand
s11SO00; cash in Western National bank,
s533.0OO; cash in National City bank, $780,
600; cash in First National bank. Jersey
City, Sl25. 900: cash in Standard bank, $685.
900; New York City bonds, $4,000. .OOO other
bonds, $S50,000: time loans, 1860, 600; de-
mand loans. S6S5, 900: bills receiy-
able. SSi7 900; due from banks. 1910
OOO; syndicate loans. s4433, 500; total assets,
$l1.719,5O0. Liabilities Capital and surplus
s5,oOO,OOO; individual deposits, s292s 600;
trust funds. s21 600; due to banks, BOO
600; total liabilities. S11,649. GOO.
The notice posted on the door of the COM
pany's Office reads
"Tbe board Ct directors OF the Produce
Exchange Trust company has deemed it to
the best interests of its depostors and stock
holders to suspend payment pending the re-
adjustment of its affairs The following
u,
Armstrong. George r. Bdwell. Edward A.
Maher and Frank Brainard, nae been ap-
pointed by the board of directors to take
charge of the property and affairs OF the
company and are in possession thereof for
the board OF directors.
"ALMON GOODWIN.
WILLIAM NELSON CROMWELL.
Counsel for Committee"
The Produce Exchange Trust company
was organized q couple OF years ago with
capital OF So 100000, and had a reported
surplus and undivided profits at this time
OF over S2.500000. It's business was chiefly
with merchants, tradesmen and corporations
ia its immediate vicinity and 1t was also
supposed TO do some Of the banking business
of the Standard Oil company II had been
designated by the banking department of the
state as legal depository for state moneys
and municipal moneys as well as for the
funds OF savings banks and state banks The
officers OF the company are: President.
Turner Beall; vice presidents. Edwin
Gould, Thomas A. Mcintyre and s ID.
Scudder secretary treasurer, S. L. Chamber
lain: assistant secretary treasurer. William
L. Laws, The trustees OF The company are
CharleS p Armstrong AMI d Barber,
Frank Brainard, Turner A Beall. George r..
Bidwell, Charles A. Deshoa. A. F. Goepel.
Edwin Gould n Irvine Keyser. Edward r.
Ladew, Henry A. Niece, W. Willis Merrill.
J. w. Middendorf, Edward Maer. 6. u.
scudder, John a, shibey John p. Truesdell.
e. NJ Warner, John Skelton Williams, H. +.
C. Young and Thomas A, Mcintyre.
a letter from Edwin Gould datei De
cemher 8, to the executive committee OF
the Produce Exchange Trust company, Is
published, in which Gould indicated his in
tention TO resign from the vice PRESIDENCY.
The letter was written after an examination
OF the books and accounts Of the company,
when he had found matters for which he
did not care to assume responsibility.
Il found, he wrote, that large sums OF