Article Text
BANK SMASHERY. Closed Yesterday, # What Merchants' Particulars National Bank of the About ColBrought Jane 28. that all was lapse, the and Memphis Avalanche, not right has the the affairs reated Suspicion From upon months, Merchants' and generally National of Bank for some have been very nearly a the institution public places for well known discussed week past, in especially agent as of it the was government purpose of that in a lyux-eyed the city for the supposed of its managewas the details In the Avalanche made to of ment yesterday and for brief the first reference time. Directors was It was then was the matter a meeting of the everything stated held Friday that evening, officers at which in 80 favorawas presented light that by very the satisfactory for "running arrange- the of mental ble were through made safely. planked Large down sams by of machine were top $50,000 from the moneywar the this confiding is package asid. Directors, of and lovely on the to New to came Everything officials, looked and to add hitherto York. anxious some deposits were withdrawn returned. or two of $30,000 all morning their day happiness, package previously would the be Still due, better, by express, a after Saturday all, and about of would be right Friday the officials moet close of bank were hours in a state of rejuvenated the the ecstatic bank enthusiasm rtheir not destined to be as General lovely the officers examiner all was fondly referred prospects. But bank expected. affairs to above, as Wilson, had the become satisfied rotten, and that that the the na- in after tional of the banking bank particular. were law had been He disregarded sought an their innearly terview every with the Directors boon few minutes effected a meeting, and in in a their ideas demonstra- witheregard wonderful change Practical these facts and viewed the to tions the of institution. they figures had convinced through mangentlemen and that operations result of the bank was another this draw agement a glass on darkly. the bank The yesterday By ten morning, or eleven it was time from persistent the Directors. was the payment. demand, In a o'clock, 80 to suspend the Directors, by request of Wilson was to the General found little longer, necessary belonging in possession of liquidation. instita- the reporter keys, books, etc., made an order of officers tion, and had called upon the about the bank was assured Our this that time enough for information, to pay all right; depositors, and that was all there was money stockholdera would be and right, that that even the in bank. fact there Furthermore, be was furnished no necessity a satis- the as for closing statement would The statement, factory during the day. to hand, 80 our repress promised, was did compelled not come to seek other as detailed sources of porter information, with results on above, Gen. possession, and Wilson as follows: found and no nothing cash banks on to the or hand corre- credit banks of taking the concern Paper with amounting other York to about had been sent to money on, all times to the Merchants at spondents. $300,000 different discounted raise to New This, credited and Bank, and now maturing. and be National will return protested institution, which, of liability course, of the collapsed due depositors-say estimated added to the to $200,000, amount as variously liabilities of the $150,000 make the gross As for assets, in adbank -will about $500,000. in New York, the at bank least dition to the paper $400,000 in paper, pastidue, here is under protest $700,000 in has which the about apparently indifferent, or half assets are of which, paper, Thus good, estimate, bad and about collected twenty five in these per at a fair that can be statement the cent. is time From the chances of ju re The reader disjointed may and all holders. of this mostly depositors heavy depositors by the failure were the small ones, caught few in number, noise, having ones make if any been of New who The heaviest and generally paid, with sufferer few Bank by most the collapse exceptions. York. very will Metropalitan the failure is be the the weight of will be felt here as affects our largely In fact in New York, credit and and the depositors Such we the affairs only whom have made of reference. and Bank, prosgeneral outline National since of the Merchants semi-official sources at the pects gleaned from paragraph which appears writing head of the our commercial columns.