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Closed Its Doors. NORTH TONAWANDA, N. -Y., April 26.-The Lumber Exchange bank closed its doore, this morning. A RECEIVER APPOINTED. CHICAGO, April 26.-Judge Horton has appointed Charles L. Boyd, receiver for the private banking firm of Schaar, Koch & Co., whose assets are, $75,000; liabilities, the same. The bank had 600 depositors, chiefly among poor foreigners.
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Bank Suspends Business, North Tonawanda, N. Y., April 26.The Lumber Exchange bank will suspend business tonight. Its deposit funds are being transferred to the state bank today. The institution is perfectly sound, but it has not been making any money and has decided to liquidate. The State bank will handle its business with depositora
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Bank Suspends Business. North Tonawanda, N. Y., April 27.The Lumber Exchange bank has suspended business. Its deposit funds are being transferred to the State bank. The institution is perfectly sound, but It has not been making any money and has decided to liquidate. The State bank will handle its business with depositors.
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nearly due to the amount of $200,000. Wages of ouddlers at the iron mills at McKeesport, Pa., were reduced a few days ago. A strike of all the workmen in builders' trades, Chicago, is expected to be declare 1 May 1, and yet some people claim that a wave of prosperity is sweeping over the country. Schaar, Koch & Co., private bankers, Chicago, Illinois, are in the hands of a receiver. Baker J. Lamar, of Urbana, Md., has appointed a trustee. Burruss, Son & Co., the oldest banking house of Norfolk, Virginia, has failed. The business was established in 1864. The prosperous (?) condition of business generally precluded collections and they were forced to the wall. Harry A. Cassin, cashier of the Georgia Savings Bank and Loan Banking Company, of Atlanta, Georgia, has been arrested. He had confessed defalcations to the extent of $45,000, which his friends agreed to make good, but the officers of the concern discovered that the shortage will be several times the sum named. A receiver has been appointed for the United States Bond Company, of which Cassin was also cashier. A receiver has been appointed for the Superior Consolidated Land Company, of Wisconsin, upon application of the estate of Thomas Scott, of Philadelphia. The secured indebtedness of the company aggregates $650,000. The Lumber Exchange Bank, of North Tonawanda, N. Y., has suspended business. Its deposit funds are being transferred to the State Bank. The bank is perfectly sound, but it has not been making money, and has decided to liquidate. Thomas Holloway, of Worcester county, Md., has been declared insolvent; liabilities $12,000. Chicago, April 28.-"It is disgrace and the Penitentiary or the lake, and I have chosen the latter,' wrote John Sheldon, the leading banker of Sheldon, III., to his confidential friend and attorney, J. H. Moffet. The receipt of the letter in Paxton, III., where Moffet lives, was followed by the closing of the leading bank of Loda, the assignment of four of the leading business firms and individual assignments by as many of the leading citizens of the town. In addition, it is said, Banker Sheldon's financial troubles involve the funds belonging to the school trustees of Loda township and that trust estates involving between $200,000 and $250,000 went down in the general erash. The financial wreck which brought Sheldon to this end was precipitated apparently by the demand of the heirs of the Sheldon estate in Chicago for $30,000 realized a year ago from the sale of North Chicago Street Railway and Diamond Match stock. Sheldon was unable to meet the demand upon him, came to Chicago and wrote a 20 page letter to his confidential friend, advising him that he would take his life by jumping into Lake Michigan, and indicating as the best line of procedure closing up his own involved estate. Carried down with Sheldon are a number of Loda business firms, including the Slocum & Bradley Company, a hardware and lumber firm; Gray & Swanson, dry goods and groceries; Nels Peterson, furniture and farm implements; W. L. Kinsman, grain dealer, and a number of individuals, including John Peterson, E. E. Slocum, Fannie S. Bradley and several others. These people were all on bonds for Sheldon. the amount of which, it is said, is between $130,000 and $200,000 in trustees' guardian estates. Liberty Cycle Company of Bridgeport, Conn., has assigned. The Savings Bank of Phoenix, R. I., has suspended; liabilities of $417,693; assets nominal. F. A. Phillips, Jr., the Consolidated Stock