619b2714Full suspension, Books examined
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DOORS OF JAPANESE AMERICAN BANK CLOSED. Examiner Takes Charge at San Francisco and of Branch at Los Angeles. San Francisco, Oct. 18.-The Japanese American Bank with branches at Los Angeles and Ogden, was closed by the bank examiner today. The Los Angeles branch was also closed. It is said that the assets amount to only 15 per cent of the liabilities. A run by Japanese depositors almost depleted the Los Angeles branch of cash before it closed.
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cisco concern. and having deposits of about $200,000. was closed today. The cause for the closing has not been given out, but the trouble is beHeved to have been the natural consequence of the recent failures of Japanese banks in Oakland and Sacramento. Following those failures, there were large withdrawals by depositors from the local institution A dispatch from San Francisco says: San Francisco, Oct. 18.-The Japanese-American bank of this city was closed today by State Superintendent of Banking Alden Anderson after an examination conducted by the state bank commissioners that the bank's affairs would be adjusted without drastic action but a crisis was brought on by a run on the Los Angeles branch which was caused by the rumor that the Sacramento Japanese bank closed recently by the commission was connected with the Japanese-American bank On receipt of news of a run on the Los Angeles branch Supt. Anderson ordered the immediate closing of both the San Francisco bank and its Los Angeles branch. The bank has a branch in Ogden also and a telegram was sent to the governor of Utah, by the California bank commissioners, suggesting that this be closed. State Supt. Anderson says that the affairs of the bank are in a muddled condition and that so many of the loans were made On worthless securities that it is hardly likely that the depositors will obtain more than 15 cents on the dollar. J. W. Harper has been placed temporarily in charge of the closed bank, which is capitalized at $200,000 The assets of the main branch are as follows: Loans. $371,000. overdrafts. $1,459; value of bank premises, $6,000; due from other banks, $38,000; cash on hand, $9,600; surplus. $8,500. Its llabilities are. Due to banks, $135,000; deposits, $115,500; bills payable, $104,800 The Los Angeles assets are: Loans. $266,000; overdrafts, $1,000; stocks and bonds, $4,000; bank premises, $12,000; real estate, $1,800; due from other banks, $16,000; cash on hand, $14,000. Its liabilities are: Deposits, $235, 000; bills payable, $13,800. This report was the last of the triweekly reports which the bank commissioners have been receiving from the banks since they began to watch it in August, but it is believed that a large part of the cash on hand has been withdrawn by depositors since the run on the Los Angeles branch was begun.
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LOCAL BANK DID NOT CLOSE BUT PARENT INSTITUTION IS CLOSED ON COAST. Japanese-American Institution is in Financial Distress-Depositors Are Nearly All Japanese. Notwithstanding the fact Ithat the San Francisco and Sacramento, California banks have closed their doors, the local bank is doing business to day. Definite information from the local bank as to what effect the closing of the California banks will have upon the business of the bank in this city, could not be learned at the bank today. The cashier is out of the city' and the employes at the bank had no authority to speak, The cashier of the home bank will not return to the city until some time tomorrow, and until that time nothing can be learned regarding the situation. Those in the bank today are not inclined to give out any information as to the relationship, If any, of the Ogden bank with the San Francisco or the Sacramento banks. There are said to be a number of white depositors in the local bank. The Japanese-American bank of San Francisco, one of he largest Japanese banks in the west, with branches in Los Angeles and Ogden, was closed today by the California state banking superintendent. The bank's assets aamount to only about 15 per cent of Its liabilities. Most of the depositors are Japanese and in Los Angeles they made such a run on the bank that It was almost depleted of its cash before its doors were closed. The Japanese-American bank of Los Angeles, a branch of the San Fran-
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SAN FRANCISCO JAPANESEAMERICAN BANK CLOSED San Francisco, Oct. 18.-The Japanese-American bank, one of the largest Japanese banks in the west, with branches in Los Angeles and Ogden, Utah, was closed today by State Banking Supt. Alden Anderson. The bank's assets amount to only about 15 per cent of its liabilities. Most of the depositors are Japanese and in Los Angeles they made such at. run on the bank that It was almost depleted of its cash before its doors were closed. Los Angeles, Oct. 18.-The JapaneseAmerican bank of this city, a branch of a San Francisco concern, and having deposits of about $200,000. was closed today by order of State Bank Supt. Anderson, Practically all of the depositors are Japanese. Their deposits amount from $1 upward. The cause for the closing has not been given out. but the trouble is believed to have been the natural consequence of the recent failures of Japanese banks in Oakland and Sacramento. Following those failures, there were large withdrawals by depositors from the local institution. On receipt of news of a run on the Los Angeles branch Superintendent Anderson ordered the immediate closing of both the San Francisco bank and its Los Angeles branch. The bank has a. branch in Ogden also and a telegram was sent to the governor of Utah by the California bank commissioners suggesting that this be closed.
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JAPANESE BANK ORDERED CLOSED RUN ON LOS ANGELES BRANCH PRECIPITATES ACTION INSTITUTIONS UNDER SURVEIL. LANCE TWO MONTHS State Superintendent Says Affairs of Organizations in Muddled Condition Because of Loans on Valueless Securities [By Associated Press.] SAN FRANCISCO, Oct. 18.-The Japanese-American bank of this city was closed today by state superintendent of banking, Alden Anderson, after an examination conducted by the state bank commissioners ever since August 25. It was hoped by the commissioners the bank's affairs would be adjusted without drastic action, but a crisis was on a run on which was geles brought branch, by caused the Los by An- the rumor the Sacramento Japanese bank, closed recently by the commission, was connected with the Japanese-American bank. On receipt of news of a run on the Los Angeles branch, Superintendent Anderson ordered the immediate closing of both the San Francisco bank and its Los Angeles branch. The bank also has a branch in Ogden, and a telegram was sent to the governor of Utah by the California bank commissioners suggesting the branch there be closed. State Superintendent of Banks Anderson says the affairs of the bank are in a muddled condition, and SO many of the loans were made on valueless securities that it is hardly likely that the depositors will obtain more than 15 cents on the dollar. Temporarily in Charge J. W. Harper has been placed temin charge of the porarily bank, which was capitalized at $200,000. The assets of the main branch are as follows: $371,000 loans; $1495 overdrafts; $6000 value bank premises; $38000 due from other banks; $9600 cash on hand; $8500 surplus. Its liabilities are $135,000 due to banks: $115,500 deposits; $104,800 bills payable. The Los Angeles assets are: Loans, $226,000; $1000 overdrafts; stocks and bonds, $4000; bank premises, $12,000; real estate, $1800: due from other banks, $16,000; cash on hand, $14,000. Its liabilities are: Deposits, $235,000; bills payable, $13,800. This report is the last of the triweekly reports which the bank commissioners have been receiving from the bank ever since they began to watch it in August, but it is believed a large part of the cash on hand has been withdrawn by depositors since the run on the Los Angeles branch was begun.
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BANK'S ASSETS AMOUNT TO 15 PER CENT OF LIABILITIES SAN FRANCISCO, Oct. 18.-The Japanese-American bank, one of the largest Japanese banks in the west, with branches in Los Angeles and Ogden, was closed today by State Bank Superintendent Alden Anderson. The bank's assets amount to only about 15 per cent of its liabilities. Most of the depositors are Japanese and in Los Angeles they made such a run on the bank that it was almost depleted of its cash before its doors were closed.
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JAP-AMERICAN BANK CLOSES DOORS IN FRISCO San Francisco, Cal., Oct. 18.-The affairs of the Japanese-American Bank of this city which was closed today by State Superintendent of Banking Anderson, was said tonight to be in a muddled condition. A run on the Los Angeles branch caused by the rumor that the Sacramento-Japanese Bank, closed recently by the commissioner, was connected with the Japanese-American Bank. brought on the crisis. State Superintendent Anderson said tonight so many of the loans were made on worthless securities that it Is hardly likely the depositors will obtain more than 15 cents on the dollar. J. W. Harper has been placed temporarily in charge. Thebank is capItalized at $200,000. The assets of the main branch include loans of $371,000 and cash on hand of $9.600. Its liabilities are: Due to the banks $135, 000; deposits, $115,000; bills payable, $104,800. The Los Angeles assets show loans of $266,000; cash on hand $14,000 with $16,000 due from other banks. Its llabilities are $235,000, bills payable $13.000.
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Bank Failure Was Decidedly Complete SAN FRANCISCO, Oct. 18.The Japanese-American bank, one of the big Japanese banks in the west, with branches in Los Angeles and Ogden, Utah, was closed today by State Banking Superintendent Alden Anderson. The bank's assets amount to only about 15 per cent of its liabilities. Most of the depositors are Japanese and in Los Angeles they made such a run on the bank that it was almost depleted of its cash before its doors were closed.
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BANK CLOSED Japanese Institution Closed Its Doors After Side Run. San Francisco, Oct. 19.-The affairs of the Japanese-American bank of this city which was closed today by State Superintendent of Banking Alden Anderson were said to be in a muddled condition. A run on the Los Angeles branch, caused by the rumor that the Sacramento Japanese bank, closed recently by the commissioner, was connected with the Japanese-American bank, brought on the crisis. State Superintendent Anderson said so many of the loans were made on worthless securities that it is hardly likely the depositors will obtain more than fifteen cents on the dollar.
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imodation train leaving Mystic, in., at 6.45 for New London. Monmorning. He was walking on the :k toward his home in Stonington stepped from one track to avoid a n directly in the path of another. was well known in the newspaper 1d. having been correspondent for il and New York papers and also ing done some magazine work. or . he had been employed as night tchman at the Ninigret mills at stic. up 'doo.L 'H 'M' is A gyman and a former resident of St. n, N. B., who recently renounced the d of his church for the Unitarian h. Monday was deposed from the min- by Bishop Alfred Harding. Episcobishop of Washington. Rev. Mr. op formerly served as assistant recof St. John's church in Georgetown. C.. and created a sensation in ehurch les, when four months ago he anneed his renunciation of the church which he was ordained. Bishop Hardissued a public statement that he had osed Rev. Dr. Troop at the latter's rest and for causes not affecting his al character. he bleached skeleton of a young nan, partly covered by shreds of n which once were part of her hing. was found Monday in a lonely ten of wood land near Islep, Long nd. The coroner found nothing by ch the identity of the young woman a be established. Close to the may blonde JO SSBUI the e SPA II with fragments of a big girlish : of ribbon The teeth were well served, with several gold fillings. It evident that the victim had been SEAL 94L year. C quotu .10] [ et. showing no marks of violence, it is impossible to ascertain whetht is a case of suicide or a myste15 ie National Association of Assistant tmasters closed its annual convenMonday at Indianapolis, Ind., with election of the following officers: sident. Edward W. Wooley, Jersey : first vice president, W. I. LeighConcord. N. H.: second vice prest. A. K. Roberts, Binghamton, N. secretary. Frank Beaslie, RutherS :'H N : wies, Jackson. Mich. The next contion will be held next September at intic City. Forty delegates. repreing half as many states, adopted a lution urging on Postmaster GenHitcheock that assistant postmasbe included within civil service rol and that the office be classified hat subordinate postoffice employes be promoted to the office of asint postmaster e affairs of the Japanese-AmeriBank of San Francisco. which closed Monday by State Supt. of king Anderson, were said that night e in a muddled condition. A run be Los Angeles branch, caused by rumor that the Sacramento-JapanBank. closed recently by the comioner, was connected with the Jape-American Bank brought on the S. Supt. Anderson Monday night
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JAPANESE CAUGHT. Branch of a Frisco Bank Closed in Los Angeles. San Francisco, Cal., Oct. 19.-The Japanese-American bank, one of the largest Japanese banks in the west, with branches in Los Angeles and Ogden, has been closed by State Banking Superintendent Alden Anderson. The bank's assets amount to only about 15 per cent of its liabilities. Most of the depositors are Japanese and in Los Angeles they made such a run on the bank that it was almost depleted of its cash before its doors were closed.
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ANDERSON CLOSES 2 JAPANESE BANKS Main Institution in This City and Los Angeles Branch Show Deficiency Third Branch Located at Ogden, However, Remains Open for Business The Japanese-American bank located at Post and Buchanan streets in this city and the branch at 101 South San Los Angeles, were Pedro street, of Banks closed yesterday by Superintendent Alden Anderson on account of a. defiof cash and lack of proper sefor loans made. curity ciency The *bank and its branches have been under observation for some time and as they failed to make up the deficiencies in the time alloted by Anderson he decided yesterday to close them. OGDEN BRANCH NOTIFIED Besides the main bank in this city and a branch in Los Angeles a third branch is maintained at Ogden, Utah. The officers in control of the Ogden branch were notified of Anderson's action, but did not close that institution, of the from Ogden are as tion. it is Advices out California jurisdic- to the effect that the branch in that city will remain open until further advices are received from the head institution in this city. According to the last statement of the bank its deposits are more than $700,000, with nearly an equal amount of loans. The capital stock is $200,000. $159,425 being paid up. More than $75,000 is loaned on real estate in AlaSan meda, Monterey, Francisco, Riverside, Tulare, OrLos Angeles, Imperial, ange and San Luis Obispo counties. Among the other loans are Japanese government bonds, stocks of various corporations, which are not listed in the report and warehouse receipts. DEPOSITORS EXCITED The closing of the institution in this city caused considerable excitement among the many Japanese depositors. A big crowd filled the street in front of the bank and there was much discussion, but no demonstration. Pracall of the are Their run tically nese. deposits depositors in amounts Japafrom $1 up to considerable sums. In Los Angeles the same situation prevailed. Although the closing of the bank caused considerable excitement, no demonstrations were made. W. S. Vawter was placed in charge of the Los Angeles branch, while J. W. Harper is in charge of the main bank in this city. The directors of the bank are K. Uyeda, R. Kamikawa, K. Abiko, J. Kolke, M. Takekawa, M. Minabe and Y. Maeda.
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OGDEN JAPANESE TO ORGANIZE NEW BANK Special to The Tribune. OGDEN, Oct. 26.-Following the announcement made in The Tribune several days ago, that it is the intention of the local Japanese to organize an independent banking institution to take the place of the branch of the JapaneseAmerican bank of San Francisco, for which a receiver was appointed a few days ago, Saburo Ichimura, the former cashier, said today that as soon as the affairs of the local concern are settled by the court, he with other leading members of the Jap colony, would begin the organization of the independent bank. Mr. Ichimura says that the capital stock will be $50,000. and that the bank will be run independently of any other bank in the United States. Mr. !chimura was on his way to San Francisco to confer with the officials of the parent institution which failed there last week, looking to the purchase of the local branch. when he received a telegram announcing that the bank here had been closed and was in charge of State Bank Examiner Glazier. He immediately returned to the city and has been assisting in the examination of the books and records of the institution. which is being conducted by W. D. Brown, the receiver appointed by Judge Howell to supplant Bank Examiner Glazier. Mr. Brown has about completed his inspection of the records of the bank. and will be ready to make his report to the court in a few days: