The daily morning journal and courier., 1902-06-21
CLOSING OF NEWPORT BANK
ATTEMPTED SUICIDE CAUSES
 CALL FOR EXAMINATION.
Cashier Anthony s. Sherman, Who Shot Himseif StiIi Hovers Between Life and Denth-Condttion of the Tnstitu~ ton Not Yet Known-Shermnn Had Sought Advice of the City Solicitor.

Newport, R. l., June 20.-Cashier An
 thony s. Sherman of the Merchants bank, who shot himself last night, still | hovers between life and death, from the
 pistol wound inflicted last night and 1 the institution, over which for many
 years he had unquestioned control, is
 closed pending an Investigation The | bank is private institution.
 Governor Kimball has been asked by creditors of the bank to order an fn- quiry under the state law, which pro- vides that if evidences of bankruptcy appear a receiver may be asked for. Until these steps are taken the real reason for MT. Shermans desire to end his life will not be known.
 It is learned from City Solicitor Bur- dick that he was called upon by Cashier Sherman of the Merchants bank two days ago for advice and, acting under directions from the cashier, drew up a petition to Governor Kimball asking for commission to examine into the affairs of the bank. MT. Burdick states that when he forwarded the petition he had no idea that the banks affairs were in such condition as he is now led to suppose them to be, which in his words is very bad.' He has had no oppor- tunity to make any examinations of the accounts and his information was se- cured from MT. Sherman in a profess sional way.
 When Mir. Burdick learned of MT. Sherman's attempt at suicide, he ad- vised that no effort be made to open the bank and posted the notice direct ing all inquirers to his office. Many depositors have called on him and he has told them that the attention of the governor has been called to the banks condition and that future proceedings are we'll defined by law. Until they have been followed out it will be im- possible tosnake definite statements.
 According to the last annual report of the state commissioner the Merchants bank condition was as follows: Re- souces, debts due from all other banks, $161 141.76; specie actually in bank, s50295; bills in other banks. $7.244.28; deposits in other banks, $12220.17; it's own stock held by the bank, $22,200; real estate st0142 Total s213, ,451,69.
 Liabilities, capital stock actually paid in. $10O 900; deposits on interest, $98,- 7SS54; debts due other banks s11,01754; | dividends unpaid, $238; net profits on hand, s3,45761 Total $213, ,451.69.
 Special report-Par value of shares, | $10O; last semi-annual dividend paid l January 19o1 s2,00o; reserved profits at time of last dividend, $1,123.65 debts | due and not paid, $2,775; largest amount | of indebtedness of any one person or | firm $14,3S5.23
 The bank did business with summer residents. who held MT. sherman in very high regard. Through their in fuence he became vice president of the ! Madison Square National bank of New York.
 A year ago the Merchants bank ceased to be a member of the clearing aouse of Newport. So far as can be earned, the stockholders, under the banks charter, are responsible only for heir stock Should the institution be bankrupt. the customers would there ore lose, as well as the stockholders.
 The death of MT. Shermans father, William B. sherman, who was presi- lent of the bank, few weeks ago. weighed on the sons mind It is known .lso that the cashier was interested in ertain stocks which of late have not roved profitable.
 Within the past day or two cashiers hecks have gone to protest, and yester ay the clearing house refused to ham, le checks drawn upon the bank. Il