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HELENA'S HARD TRIAL Her Financial Institution: Subjected to a Severe Strain. CONFIDENCE IS RESTORED The Doors of Two Banks Close. to But the Others Are Able Meet All DemandsAssignments Special Dispatch to the Standard HELENA. July 27.-After standing of 60 days. out continued run Montana against a long National bank and the their doors the At the National First bank failed to open clearing house situathis meeting morning. yesterday afternoon anxiety the in was bad enough to cause meettion banking quarters. Subsequent of the all held by the directors National ings were National and the Montana banks First decided to close both been and morning. it was Their currency had found this to the lowest ebb and it was meet drained gather more in time to was impossible to of depositors, which it news the demands would be made to-day. last The evenquickly known spread around the city were though no official statements and deing. the result was gloom to the future. jection made. and and a feeling of uncertainty as During the evening hours. assignments largest made by C. W. Cannon, the were of real estate in this city, and and owner well known merchant Holter, the The liabilities of Mr. Cannon esticapitalist. up at $236,951. with assets liabilfooted at $1,800,000. Mr. Holter's at mated were $486,223 with assets estimated made ities Both assignments were protec$1,200,000. for the purpose of fairness debtors. and for both creditors and tion to the evening the streets were filled During small groups of people filled discussing with with the situation, and the air was the exrumors, " hich added to several eitement. senseless It was rumored that assignwere in trouble, but no offices of houses were made, although the elerk of ments the clerk and recorder and the until a the district court were kept open late hour for the filing of papers. BroadMain street from This morning Grand. where the leading banks On way located, to was packed with people. was are the doors of the First National bank the following notice We are compelled to suspend business under from stringency of the money market and able to the drafts on deposits without being of our loans. heavy corresponding reduction command make assets are ample. but we cannot By order Our the currency to continue payments. of the board of directors, E W. KNIGHT. Cashies On the Montana National bank, the following notice was posted Montana National bank. under the to strin- the The the money market and owing inability to gency of drafts on deposits and the outstanding heavy corresponding reduction in The make a compelled to suspend business. loans, is assets are amply sufficient to pay the all nec lia bank's but it is impossible present. essary bilities, funds to continue payment at By order of the board of A directors. L.SMITH. Cashier. As this result was expected. the crowd Merover toward the corner of the surged chants' bank and, as the hour of 10 o'clock the I approached. gazed expectantly at was a front door for developments. It crowd of sightseers rather than of depos the itors. and when, promptly on time, of doors were thrown open. a yell the line ap plause started from one end of small the other and was reachoed. A to of depositors followed. but offset the amount run passed out was more than men the deposits. Many business banks started by out in the interests of the gathered money which was placed to and credit. Others talked with the more excited their depositors, and at noon the was run had stopped and business in the bank At running under normal conditions. that hour the deposits received during several the day exceeded the withdrawals by hundred dollars. I Confidence seemed fully restored when W. F. Hart. manager of the Bi-Metal Col. lie mine at Philipsburg. arrived with $25. 000, which he deposited He had heard had that the bank was in trouble and brought the money over on a special : train. t 3 o'elock, when the bank closed. the situation was so good that President receivHershfield and other officers were ing congratulations from all quarters. There were no runs in the other banks nor are there any reasons to-night for believing that the situation will grow worse The Montana Savings bank gave notic that the 90 days clause would be in to-day force and it is understood that the ruse Savings bank has $800,000 in money in its Despite strenuous demands, Presivaults. Cruse would not loosen up this dent for the benefit of the other banks. money Assignments to-day were filed by Ashby and the Paynter Drug company. I No statements are given. Mr. Ashby immediately resigned his office of presiof the Helena National bank. dent His assignee is Robers S. Ford of Great Falls, and the assignment is in no way connected with the all airs of the Helena National bank. The assets in both eases are amply sufficie to settle all liabilities. Attachments have been filed by the Cruse Savings bank on the real estate owned by the Helena Electric Railway for $20,000. and against the company Helena & Frisco Mining company for $15.000 on other blocks of real estate. d Until the bank examiner arrives tomorrow the condition of the closed banks will not be definitely known. though the assets are largely in excess of the liabili ties. Au the close of business yesterday of the Montana National had liabilities $900,000 with assets of $1,750,000 and capital and surplus of $700,000. It is under stood that both banks will resume busi all early date. Large amounts of ness at are ou the way but failed to currency arrive in time to prevent the closing. To-night there is a restoration of con* fidence the and decided feeling that the 19 panic reached its climax. and that from now on, there will be no more trouble. Livingston suffers e pecial Dispaten to the Standard LIVINGSTON. July 27. The Merchants'