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BUSINESS NOTES. The city of Albuquerque has defaulted on the payment of the city's bonded debt held by New Yorkers. S. M. Folsom, of the suspended Albuquerque National bank and the savings bank, has resigned as president of the Now Mexico National bank at Socorro and has been succeeded by M. W. Browne, of Socorro. The Socorro Fire Clay company has failed, and it is learned that the indebtedness of the company is large. The Albuquerque foundry was caught to the extent of over $300. The president of the company is a Colorado Springs man. A run was started on the Now Mexico National bank at Socorro yesterday, and $18,000 were drawn out by depositors, but the bank is all right up to date. The solid firm of Browne, Manzanares & Co. is behind this institution. It is claimed that the Albuquerque Savings bank will in time pay out dollar for dollar. The assets are placed at $250,000 as against liabilities of $189,000. Many railroad employes and families residing at Gallup, San Marcial and other points were caught for their savings. Treasurer R. J. Palen has figured up the territorial finances and finds that the suspended Albuquerque National bank carried $59,500 of the territorial funds. Thus is tied up just about one-half of the available cash of the territory. This will greatly cripple many, as it will necessitate cutting down all appropriations at least 50 per cent. The last report of the condition of the New Mexico Savings Bank & Trust company, of Albuquerque, made at the close of business January 4 last, makes the following showing: Resources-First mortgage loans and notes receivable, $192,063.32; stocks and bonds, $21,659.33; cash on hand and sight exchange, $48,417.01. Liabilities-Capital stock, $50,000; surplus, $10,000; undivided profits, net, $1,356.69; debentures, due 1898, $48,700; savings deposits, $143,582.97; collateral loans, guaranteed, $8,500.