Article Text
IT is speculation and overtrading that causes the panies and the financial troubles of the country. The Commercial Gazette says: Of the five National Banks which were embarressed last week four of them owed their trouble to speculation. The St Albans Bank was obliged to suspend because its President had undertaken a big deal in the securities of the Southeastern railway. The Elmira Bank was seriously embarrassed by the run upon it qwing to & report, which was not denied, that its President had lost $50,000 in a pork speculation. The suspension of the First National Bank of Indianapolis was due, in partial least, to the heavy drafts upon it by depositors who had margins to meet in Chicago, and the Indiana Banking Company suffered in the same way. The banks themselves regard with great suspicion any man upon whom there is the slightest taint of speculation, and they must expect the public to scrutinize with equal severity the acts of those with whom they deposit their money.
