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Bank Falls in a Receiver's Hands. ENTERPRISE, Kan., May 31. - The Bank of Enterprise, of which Banker Case was cashier, went into the hands of a receiver yesterday. Mr. Case's death will prevent the removal of the Ehrsam Machine company's shops to Kansas City.
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ENTERPRISE BANK CLOSED. TWO FAILURES IN OUR NEIGHBORING CITY. J. M. Van Norstrand, a Leading Merchant, Closed Under Chattel Mortgage-The Bank Failure Not Unexpected-The Case Funeral. Special to the Reflector. ENTERPRISE, May 31-The Bank of Enterprise was closed last evening by Bank Commissioner Breidenthal. The failure was not unexpected. Indeed for several months it had been looked for by those posted on its condition. The bank was incorporated in 1883 with a capital of $50,000 of which $20,000 was paid in. This was increased to $75,000 in 1889 and $100000 in 1892. A large portion of the stock is held by New England investors, friends of the late C. M. Case who has been since 1887 its cashier and manager. The bank was a heavy creditor of the machine shops and their interests were considerably identified. With the industrial depression of last summer the bank's business fell off and interest payments drew heavily on its resources. C. B. Hoffman had been president until a short time ago when he sold his stock and no successor had been elected. There was no president; J. M. Van Norstrand is vice president. In Jan. 1893 it had $44,000 deposits with assets worth at face value $185,000. When closed yesterday its deposits were only $4,000. There is other indebtedness of about $14,000. Assets are abundant nominally but actually will probably realize but little. The loss will fall mostly on eastern stockholders, although the fact that during its prosperous years the bank paid large dividends will to some extent lessen their grief. The heaviest local loser is Dr. A. G. Eyth who had about $700 in the bank. Chas. Rennecker, adjudged insane two weeks ago, had $450 in the bank. A receiver will be appointed in a few days. J. M. Van Norstrand, a leading dealer in general merchandise, was closed last evening under a chattel mortgage held by the bank. He had been in business here two years. The G. A. R. also attended in a body. Rev. W. L. Seabrook made a most appropriate and earnest address, dwelling upon the deceased's love for Masonry and paid a tribute to his strong character. Rev. A. S. Dechant offered- the prayer and the Enterprise choir furnished the music. There was a remarkably large crowd present, many from McPherson and Salina attending. The physician in charge stated that Mr. Case's decease was due to congestion of the brain, induced by stomach troubles from which he has suffered. He was unconscious for about 36 hours before his death. He had about $25,000 life insurance of which $7,000 was in fraternal associations.
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Bank Falls in a Receiver's Hands. ENTERPRISE, Kan., May 31. - The Bank of Enterprise, of which Banker Case was cashier, went into the han Is of a receiver yesterday. Mr. Case's death will prevent the removal of the Ehrsam Machine company's shops to Kansas City.
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BANK OF ENTERPRISE FAILURE. Additional Facts in Regard to Its Condition and the Losers. ENTERPRISE, June 2.-Full particulars in regard to the Bank of Enterprise, which has just been closed, have now been made public. The late C. M. Case was its cashier and manager. There was no president; J. M. Van Nostrand is vice president. In January 1893, it had $44,000 deposits, with assets worth at face value $185,000. When closed its deposits were only $4,000. There is other indebtedness of about $14,000. Assets are abundant nominally but actually will probably realize but little. The loss will fall mostly on eastern stockholders, although the fact that during its prosperous years the bank paid large dividends, will to some extent lessen their grief. The heaviest local loser is Dr. A. G. Eyth, who had about $700 in the bank. Charles Rennecker, adjudged insane two weeks ago, had $450 in the bank. A receiver will be appointed in a few days. J. M. Van Nostrand, a leading dealer in general merchandise, was closed under a chattel mortgage held by the bank.
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New Bank for Enterprise. Enterprise already has a new bank to take the place of the bank of Enterprise suspended last week. C. Hoffman & Son have started a private bank. It is not yet incorporated but will be in a few days. Its office is at present in the mills but after the books etc. are removed it will be located uptown in the bank building. No action will be taken in the suspended bank's affairs until late in the week. Eastern stockholders are on their way west and their arrival is being awaited,
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Notes. Newton pays her preachers $15,000. The trustees of Baker have voted against foot ball, 9 to 2. Ellenwood has the only fighting rabbit that history records. Governor Lewelling and Morrill belong to the same iodge of Shriners. A South Lawrence boy is known by his friends as "Jennesse Miller." A Cawker City woman is engaged in the task of raising 700 chickens. Lawrence has a dressmaking plant that pays out $31 a week to assistants. The enrollment in the Chautauqua county institute in Sedan has reached 150. The population of Butler county is 21,116, a loss of 1,434 during the past year. Miss Ida Ahlborn, a Kansas poetess, has married Professor Weeks of Little Rock. The name of the janitor of the Goodland school building is Schwerdtfeger. Twenty-minute sermons are the limit in Topeka during the hot weather. Miss Green, a St. Louis traveling agent, sells fresh paint on the Kansas circuit. An Ellsworth county farmer lost 150 head of sheep in the recent flood in the vicinity. A bright French weekly, "L'etafette du Kansas," was once printed in Leavenworth. Exactly 6,000 people have been buried in Mt. Muncie cemetery in Leavenworth. The senior class of the state university raised $510 to aid poor students through school. Fake doctors can't do much in Kansas. Diamond Dick cured everybody a year or so ago. Mr. Sniff of Newton has been called upon to kneel at the bier of three mules in one year. The average wages paid to the eighty-four country school teachers in Atchison county is $42 a month. A Barber county ground squirrel has developed an abnormal appetite. which requires young turkeys to satisfy. The rainfall in Wichita for June has exceeded in amount the rainfall of any preceding month since a record has been kept. The Fort Scott paper company advertises that it will give $5,000 for a gas well on its premises that will run its boiler plant. The Hanover creamery made nearly 4,000 pounds of butter last week, and it made buttermilk enough to wash down half an acre of corn bread. Mastin Simpson may as well understand at the beginning of his dramatic career that in Kansas "The Belle of Toadaloupe" company will be mobbed if he wears those white wings on the streets.-Kansas City Star. The recent storm entirely destroyed the school building in Cedar Point, Chase county, and badly damaged a number of residences. The financial troubles caused by the failure of the bank in Enterprise are disappearing since it has been announced that the bank will pay out in full, with a prospect of its resuming business.
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FINANCIAL AND INDUSTRIAL The Chicago Milk Shippers' Association, alias the milk trust, as organized in February. 1891. with a stockholding membership of 1,500 dealers. to control the price of milk within the limits of the city of Chicago. received its death blow as a price-fixing concern in the Supreme Court of Illinois Tuesday morning. The business of the association is declared illegal and the man responsible for its downfall, Charles C. Ford. of Chicago. is absolved from the payment of $433.80 which he owed the association in October. 1891. Ford had purchased milk from the trust from April 15, 1891. to October. paying the trust price, 75 cents per can. during May and June. and SO cents during July, August and September. but refusing to pay the rate of 90 cents fixed for October and the remainder of the year, declaring it to be exorbitant and illegal. The trust sued him in the Circuit Court and was beaten. It appealed to the Appellate Court. which deeided that. though the trust was an illegal body, the debt must be paid. The Supreme Court, however, holds the Appellate Court to be in error. The finding of the Circuit Court is affirmed and that of the Appellate Court set aside. The defunct Bank of Enterprise, Kan., has been closed. The depositors were paid in full and the stockholders divided the assets, receiving about 10 cents on the dollar. The Spokane (Wash.) Morning Times has suspended, an attempt to run the paper on the co-operative plan having failed. The Union Bank of St. John's, N. F., was found to be insolvent and the shareholders threaten to prosecute the directors. Appraisers of the assets of Elliott & MeNama. of Mexico. Mo., found $7.838 worth against liabilities of $30,000. The Elkton Mining and Milling Company has given a title bond on its property at Cripple Creek. Colo., the Kentucky Belle and Elkton mines. to James M. Parker. Donald Fletcher. Arthur Bucklev. and others for $500,000.
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[First published in the Abilene Weekly Reflector, September 2, A. D. 1897.] # SERIFF'S SALE. Under and by virtue of an order of sale is- sued by the clerk of the district court of the Eighth judicial district within and for the county of Dickinson, state of Kansas, in an action therein pending, wherein Guilford Smith is plaintiff and The J. B. Ehrsam Ma- chine Company, The Bank of Enterprise, Kansas, George W. Burnham, Albert Webb, Assignee, and Charles C. Scafie, Laurenston S. Scafie and William B. Scafie, partners as William B. Scafie and Sons, and Stuart Hare, receiver, are defendants, to me directed and delivered, I will, on