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A FINANCIAL CRASH
The Mississippi Valley Bank of Vicksburg in the Hands of an Assignee. The Cause of the Failure-What the Officers Say-Great Excitement Over the Break. VICKSBURG, Miss., November 21.-Like an electric shock was the announcement on the streets this morning that the Mississippi Valley Bank had closed its doors, and its affairs placed in the hands of Geo. S. Irving as receiver. This was first made public by a card posted on the door, reading, "Bank Close1; in the Hands of a Receiver." The news spread like wildfire, and in a short time the building was filled with people seeking information. It appears that the firm of A. K. Bonham & Co., of St. Louis, of which George M. Klein is the principal partner, had become seriously involved through speculation in grain futures by Mr. Bonham. On last Saturday evening Mr. Klein sentJohn F. Halpin to St. Louis for the purpose of looking into the affairs of that firm. Not being able to get any satisfactory information through Mr. Bonham, it was not until yesterday that Mr. Klein learned that Bonham & Co. were responsible for an enormous sum due on future contracts. As soon as this fact was ascertained, he determined to adopt the course he has taken for the purpose of protecting the bank's creditors. In the act of assignment Mr. Klein has endeavored to protect, as far as possible, all of his poorer class of depositors, the most of the preferred creditors being depositors in the savings department of the bank. Mr. Klein has private interests in this and other States, among which is an interest in the houses of John F. Halpin & Co. and Gus Asher, of this city; an interest in J.J. Powers's o.l-mill and the steamers Issaquena and Tributary, is very largely interested in the city gas works and owns several pieces of very valuable real estate in this city. All of i these, besides the property owned by his father, John A. Klein, sr., has been placed in the hands of the assignee. Mr. Klein thinks the assets of the I bank, and of himself and father will more t than pay his liabilities. The failure of the bank will also involve the house of J.F. i Malpin & Co., of Vicksburg, and possibly some other Vicksburg houses will be more or less affected by it. The failure caused more excitement and comment in the city f than any other business event that ever 3 occurred here. Numerous telegrams were I also received from all parts of the country in reference to the suspension. The bank officials gave everyone prompt explanations of the causes of the failure, the t status of the bank and prospects for settlement. Liabilities, $500,000; assets fully 1 as much, but slow to realize on; amount . due to preferred creditors, $369,550.