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The Milford, N. H., Savings Bank suspended payment this morning. The bank has deposits of about $900,000 and a guarantee fund of $21,000 and should be able to resume business when general conditions improve and pay all depositors in full.
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A BANK IN MILFORD, N. H., SUSPENDED. Milford, N. H., June 12.-The Milford Savings Bank suspended payment this morning. Bank Commissioners Tyford and Baker on Tuesday afternoon served an injunction on the bank, restraining It from receiving or paying deposits. This action was made necessary by the large number of notices of withdrawal of deposits by non-residents, timid depositors and others, who were dissatisfied with the 3 per cent interest that was paid. These payments could not be made without selling Interest-bearing securities at a sacrifice, which would imperil the principal of the other depositors. The bank has deposits of about $300,000 and a guarantee fund of $21,000, and it should be able to resume business when general conditions improve and pay all depositors in full.
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MILFORD SAVINGS BANK Suspends as the Result of Injunction by Bank Examiners. Milford, N. H., June 12.-The Milford Savings bank suspended payment this morning. Bank Commissioners Tyford and Baker on Tuesday afternoon served a court injunction on the Savings bank, restraining the institution from receiving or paying deposits. The order is made by request of the board of trustees to the bank commissioners. This action was made necessary by the large number of notices of withdrawal of deposits by non-resident time depositors and others who were dissatisfied with the rate of 3 per cent interest. These payments could not be made without selling interestbearing securities at a sacrifice, which would imperil the principal depositors. It was deemed better to suspend rather than to lessen the ability of the bank to pay every depositor in full. The demands on the bank were heavy during the panic of 1893, and have continued S) since. It had a steadily improving busi. ness until the closing of the neighboring banks caused many withdrawals, thereby forcing the present position, which otherwise would not have occurred. The bank has deposits of about $900,000 and a guarantee fund of $21,000, and should be able to resume business when the general conditions improve and pay all depositors in ful.
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THE MILFORD BANK SUSPENDS Payment Through the Request of the Board of Directors. By Southern Associated Preas. MILFORD, N. H., June 12. --The Mil ford Savings Bank suspended payment this morning. Bank Commissioners Tyford and Baker on Tuesday afternoon served a court injunction on the Savings Bank, restraining the institu tion from receiving or paying deposits. The order IS made by request of the Board of Trustees to the Bank Commissioners. This action was made necessary by the large numbers of notices of withdrawal of deposits by non-residents, who were dissatisfied with the rate of 3 per cent. interest. These payments could not be made without selling in terest bearing securities at a sacrifice, which would imperil the principal of other depositors. It was deemed better to suspend rather than to lessen the ability of the bank to pay every depositor in full. The demands on the bank were heavy during the panic of 1893 and have continued since.
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NEW HAMPSHIRE BANK SUSPENDS, Three Per Cent. Interest the Trouble-Many Withdrawals, MILFORD, N. H., June 12.-The Milford Savings Bank suspended payment this morning. Bank Commissioners Tyford and Baker on yesterday afternoon served a court injunction on the Savings Bank, restraining the institution from receiving or paying deposits. The order is made by request of the board of trustees to the bank commissioners. This action was made necessary by the large number of notices of withdrawal of deposits by non-residents, timid depositors and others who were dissatisfied with the rate of 3 per cent. interest. These payments could not be made without selling interest-bearing securities at a sacrifice, which would imperil the principal of the other depositors. It was deemed better to suspend rather than to lessen the ability of the bank to pay every depositor in full. The demands on the bank were heavy during the panic of 1893, and have contimued since. A steadily improving business until the closing of neighboring banks caused many withdrawals, thereby forcing the present position, which otherwise would not have occurred. The bank has deposits of about $900,000 and a guarantee fund of $21,000. and should be able to resume business when general ccnditons improve and pay all depositors in full.
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A SAVINGS BANK SUSPENDS. Numerous Notices of Withdrawals Cause the Suspension. Milford, N. H., June 12.-The Milford Savings Bank suspended payment this morning. Bank Commissioners Tyford and Baker yesterday afternoon served a court injunction on the savings bank, restraining the institution from receiving or paying deposits. The order is made by request of the board of trustees to the bank commissioners. This action was made necessary by the large number of notices of withdrawal of deposits by non-residents, timid depositors and others, who were dissatisfied with the rate of 3 per cent. interest. These payments could not be made without selling interest-bearing securities at a sacrifice, which would imperil the principal of the other depositors. It was deemed better to suspend rather than to lessen the ability of the bank to pay every depositor in full. The demands on the bank were heavy during the panic of 1893, and have continued since. A steadily improving business was done until the closing of neighboring banks caused many withdrawals, thereby forcing the present position, which otherwise would not have occurred. The bank has deposits of about $900,000. and a guarantee fund of $21,000, and should be able to resume business when general conditions improve and pay all depositors in full.
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GRANITE STATE BANK SUSPENDS. Savings Institution Enjoined from Receiving or Paying Deposits. MILFORD, N. H., June 12.-The Milford Savings Bank suspended payment this morning. Bank Commissioners Tyford and Baker on yesterday afternoon served a court injunction on the bank, restraining the institution from receiving or paying deposits. The order is made by request of the Board of Trustees to the bank commissioners. This action was made necessary by the large number of notices of withdrawal of deposits by non-residents, timid depositors, and others, who were dissatisfied with the rate of 3 per cent. interest. These payments could not be made without selling interest-bearing securities at a sacrifice, which would imperil the principal of the other depositors. It was deemed better to suspend, rather than to lessen the ability of the bank to pay every depositor in full. The demands on the bank were heavy during the panic of 1893, and have continued 80 since. There was a steadily improving business until the closing of neighboring banks caused many withdrawals, thereby forcing the present posilion, which otherwise would not have occurred. The bank has deposits of about $900,000, and a guarantee fund of $21,000, and should be able to resume business when general conditions improve, and pay all depositors in full.
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Will Settle In Full. MILFORD, N. H., June 13.-The Milford Savings bank suspended payment yesterday. The bank has deposits of about $900,000 and a guarantee fund of $21,000 and should be able to resume business when general conditions improve, and pay all depositors in full.
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Milford, N. H., Bank Suspends Payment. The Milford, N. H., savings bank suspended payment Wednesday, a court injunction having been served on the bank restraining the institution from receiving or paying deposits. This action was made necessary by the large number of notices of withdrawal of deposits by non-residents, timid depositors and others who were dissatisfied with the rate of three per cent interest. It was deemed better to suspend rather than lessen the ability of the bank to pay every depositor in full. The bank has deposits of about $900,000 and a guarantee fund of $21,000.
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A FEW "SOUND MONEY" MEN. The First National Bank at Pella, Iowa, is closed. E. R. Cassell, its president, lost $14,000 gambling, and the bank couldn't stand the pressure. Cassell has since cut his throat, but is not dead. One of Cleveland's "sound money" postmasters, at Breckinridge, Texas, is short $2,000. The money that he stole is not good in "Yurrup," either. C. L. Woodbridge & Co, importers of dress goods, trimmings, etc., New York, have failed, owing $200,000. They probably understand by this time that money that is good in "Yurrup" don't make business hum-unless there is plenty of it. The Stevens cotton Mills, Lancaster, Pa., have failed owing about $100,000. Single standard dollars don't go very far in the struggle for business existence. Chas. W. Gryne, "sound money" dude and all round sport, left Richmond, Va, a few days ago by thelight of the moon, after overdrawing his bank account to the tune of $600. The Milford, N. H., Savings bank has suspended payments. It claimsto have about $900,000 in deposits, but cannot realize on securities to pay pressing demands. There it is. Se. curities are so low. Well, didn't you goldbugs make 'em low! Now sweat. Hard times and "sound money" has made Birmingham. Ala., too poor to pay the interest on her city bonds. J. M. Heffner, agent for .Adams Express Company and C. B. & Q R.R, at Rock Island, Ill., has gone with $2,500 dollars good in Yurrup. W. W. Taylor, the "sound money" Treasurer of South Dakota, who ran away with $367,000 State money on the 7th of last January, has voluntarily returned and will be tried. He has turned over all his property to his bondsmen. The State offered a reward of $20,000 for his arrest, but detectives failed to locate him.