The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1905-12-21

Chicago, Dec. 2o.-All officers and
directors of the Chicago National
have resigned and their places We're
taken by men selected blythe clear
ing house association. MIR. and
Mrs. Walsh have turned over to
the officials of the clearing house
all Of their property.
New York. Dec. 1S.-News of the
insolvencics Of important ChlcaSo
trading i~n$tltutlons came WIN q
3 I5g|5i sstg and conTSllsive iiouidation
of stocks made wild work with
carly quotations. Holdinses OF cer-
tain stocks, We're thf0Wn over 5or
anE price My "F Eoafi, % ii 66royaf@d
S5 T,a p2i ~ 3a,fai,tI nf7 Tbn,nHe ~,
T nGT :. Az mais az ma ed Copper de-
rIined ~ points. Union Pacific, 2H,
and almost the entire list howed
losses of i to 8 points. The market
was enormously acflEe during me
![st io oa put o$ tA a.. ttnt fnr" ~ mn
1 NJ 49, S : Hgi5a rocnVeries,
C,,io, 90 M. % ction has haan
a.. r,,.oa,
~ W Gol-pe - ~. Stteao
$500 l"s ~ 1900 "a
-H"t4III'l @iiG LIN h9'N - tNh -
- - ~ - - ~. 49,,
4dtSG ~ ootil -. @scs li"t' 6+Ln,. ~ =
- VIZ " ny -, -
IL u,a,-. ar,l - :. I1,1o,1I -, ~,
sL1,+T ~ ~ 49, -, ho,1ea oScoci1.
tinn the con- y n+1,n1Ia, - and lao Nv offi-
49, ~ - 49, : 80 %"fiIr1I L,1k tha+
y - dnr@5jtor ErilI loSn = cnnt
n,fG c,1i77iia. Of 40 ti,raa Ranks which
~ ,'r,a ~ icoIl, hr91ahee Of he same
inS+itt,l+ior ave- ave- Nv comm
troi1eT 10 laTaa loans made Nv fine chi
capo National hank 10 railroad, coal.
1ni1ine ana other priyate enterprises
controlled by Walsh.
war,od nv RidneIv.
co,,o +i,ro 400 TIA c]n,,,n+ro1,er na1lad
,+tnntion nt tba offirers Of +ha haoE
- +5a fac+ mo- thnv were n 1binp loans
- thara' on+arnris as If Walsh vvhicb in
bie nniniCr ,rern FOO LARGE for tha s1fn-
~ ~ th4 ins+i+17+ion
pane9ta5 nroo1isns we've made tho+
%ho situation shovld he rectifea. but no
action satisfactory to he cOnDtr0Uer
wns taken. Three davs ago he came to
Chicago for the D of making an
INVESTIGATION int the affai of the
three banks and found them in such
condition that ne indeed inrnaiia+a &C.
tion TO he nocossarv.
Other ganks to The Rescue.
Officials Of different chicano hanks
We're told Of the situation and a hur-
,,iad call was sent o,t for a meeting of
REPRESENTATIVES OF the Chicago clear
inr House association ana oficars Of
cifv hanks. The meeting W called ia
order at 3 O'Clock Yesterday afternoon
and was in continuous session until 5
o'clock thir 1nornina.
Careful canvass of the situation re-
~ealed the Chicago National bank had
deposits to an Alnount of SIG, 600, 600 and
The home savings had deposits Of
$4,000,O 600, wide among 5000 deposit
ors.
Extent or the Failure.
The liabilities of the Two banks and
Of the Equitable Trust, We're roughly
estimated at $500 coo. Assets of the
three institutions made up about $40
900, OnD of lis amount and the directors
and officials of the Chicago National
bank came to the front with securities
amounting to about three millions more.
This left a deficit Of about SO. 900, 900
to be faced, and Chicago banks repre-
sented at the meeting declared at once
they would meet the situation and care
for the deficit. II it proved necessary
to advance any more than So, coo. 600 to
meet all demands, the banks pledged
themselves to make up the amount,
whatever it might be.
Take Over Waish's property
r. . o1co ~. = oad ~ na5ifia, .
""n ~ : 1880 een - "Iui1loll y
Institutions and the allied bankers
should take all of Walsh's private on
terprises, including coal mines, rail
roads and stone quarries.
AT the close of the meeting, Comp
troller Ridgely issued the following
statement:
RiancIy'a S+af,,,e,+
..T,,o action Of .bn cIaar;,m 49,.
h.nLs IN comir@ ~ tboa Ia ' af ~ 800" =,
soI,,an+ institnti1ons los ~ rajia3 ~ ~
rnost rri+iraI ritnatior wb;oh e = :" : 3
,1ot bean ta1,oT n,o,nntIv IN l,a,od n,iaI4
have LA TO 49, earic,1s noneao, l,risil'
MT on1v in CSic, co NM eien[.Sa,a me-
act;on of mo ,tSarin~ ho,sa ! y
makes If absnl,t DIV [ az az cro6;taNS
viii rarei1.a tboi,. o,n1oI ~ - :, : 800 :
and shonld thns ,,el;nye INV annrah ,erS
sion m the nart nf re nibiic ~ o.S - :
to financial troubles in C5icaao M