Click image to open full size in new tab
Article Text
First National Bank of Cedar Falls, Io., Suspends Payments WATERLOO, 1.0, May 16. The First National bank of Cedar Falls suspended close of business yesterday. being the assignment of & Brother, which involved at M. the Fields by was William filed this and who a stock. Field & are ity of morning the control Brother majorthe largest importers of draft horses in the West. among coach decline and is due to the which they of the at $100,000 to and estimated failure stock liabilities $150,000, handle. bank the Fields while their The are in the personal liabilities of will be fully as much more. No state- The ment of assets can be given as yet. resources consist of 125 imported draft of coach horses, and vast tracts and land in Iowa, the Dakotas and Kansas. The bank is in the hands of the comptroller of the currency. It is said to all be solvent, and will be able to pay claims in full. The creditors. 152 in number, are mostly farmers from the surrounding country. WASHINGTON, May 16. -Comptroller Eckles has bean informed of the failure of the First National bank of Cedar Falls, Io. Bank Examiner John McCough has been ordered to take charge of the bank. The comptroller today appointed Albert Watkins, of Lincoln, Neb., receiver of the First National bank of Ponca, Neb. He also appointed David Armstrong, of Little Rock. Ark., receiver of the First National bank of Little Rock, vice Logan H. Root, resigned. GRAND RAPIDS Mich. May 16.-In the United States circuit court today a decree in foreclosure was handed down, and a judgment in favor of the Farmers' Trust and Loan company, of New York, the for $36,397.80 was entered against The Toledo & South Haven railway. road is thirty miles long, narrow gauge, and runs from South Haven to Lawton. BLOOMINGTON. III., May 16.-The Exchange Bank of Normal, a suburb of this city, closed its doors today. It was private banking institution, conducted a H. Schuereman, and the cause is business without has been expected some average $90,000, was supposed to be May 6.-Erastus doing The tal by The NEW W. stock deposits crash YORK, adequate $95,000, and capital. Wiman timer capi to made a general assignment Lawyer today David Bennett King, of 44 Pine The assignment was signed by Mr. and Assignee would not make any street. Wyman Wyman King. that formal Mr. the statement. He merely said assignment was without any preference. MILWAUKEE, May 16.-H. Penner & whose bedding factory was burned today. Co., last week, made an assignment Assets. $20,000; liabilities, not stated. MONROEVILLE, Ind., May 16.-The Bank of Monroeville, which its doors last Friday a on hour had depleted its closed Citizens' one after business cash run of has opened its doors for that it hand, this morning, with a statement inwould pay dollar for dollar ou all debtedness. NEW YORK, May 6.-An attachment $95,000 against the West Superior the for Iron and Steel company in favor ot of Atlantic Trust company, the trustée Cecil B. Griffith, was granted by attach- Judge Andrews today. Copies of the Cenhave been served upon the tral ment Trust company and Knickerbocker Trust company. PITTSBURG, May 16. - Judgments been entered in court here today have against the Godfrey & Clark Paper bringing the total against the company, up to $94,000. The firm hopes, and however, company to weather the trouble soon resume business. CHARLESTON, S. C., May 16.-The with of the Bank of the Carolinas, doors office at Florence, this state, closed home today with a notice of temporary suspension until a meeting of the directThe capital stock of the bank is ors. $60,000. It has branches at Kingstree, nearly Conway, Williston and Varn- in ville, in this state, and several towns North Carolina. It is belleved that the bank has assets to cover all indebtedness. Stringency of the money market and consequent inability to realize on securities held by the bank is the cause of the failure. SIOUX CITY, 10., May 16. - E. B. assignee for Ed Haakinson's to. filed his schedule of The total value of assets day. estate, Spalding, values to which he will have access is $24,245, as against Haakinson's scheduled total of $1,877,7SS, a discrepancy of The explanation is that of the the $1,853,534. bulk securities hypothe- originally scheduled had been cated previous to the failure. In the matter of the Sioux City Dressed Beef and Canning company assignment. also H. J. Taylor, as assignee, the filed an amendment to schedule of assets which place the total valuation of available property at as against the assignée's valuaa discrepency difference in valuation is also attributed to the 841. $38,257, case tion of The $836,198, amounts hypotheca- of in $797, this of tion of securities, large the which have been floated through nany. defunct Union Loan and Trust com-