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Bank Failure in Ohio. Sidney, O., Aug. 24.-The German American bank, the oldest financial institution in Sidney, was today placed in the hands of a receiver, the bank being unable to meet its obligations as they became due. Liabilities, half million; assets $200,000.
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OHIO BANK GOES INTO A RECEIVER'S HANDS. SIDNEY. Ohio, Aug. 24.-The German American bank, one of the oldest financial institutions in Sydney, was today placed in the hands of a receiver. The liabilities are over $250,000 and its assets $200,000. Later. F. B. Reed. cashier, and John M. Wagner, president, made individual assignments.
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BANK FAILURE. Was the Oldest Financial Institution in Sidney, Ohio. Sidney, O., Aug. 24.-The German American Bank, the oldest financial institution in Sidney, was today placed in the hands of a receiver. The liabilities are $250,000; assets, $200,000. Later F. B. Reed, cashier, and John M. Wagner, president, made individual assignments.
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IN RECEIVER'S HANDS. German American Bank at Sidney, Ohio, in Trouble. Sydney, Ohio, Aug. 24.-On application of Cashier Frank S. Reed, the German American Bank, the oidest financial institution in Sydney, was, today, placed in the hands of a receiver. Reed stated in his petition that the bank could not meet its obligations. The bank has a capital stock of $73,000. Its liabilities are estimated at $250,000 and assets at $200,000. The opinion prevails that the bank will pay creditors in full, many of the stockholders in partnership being wealthy men. Following the appointment of the receiver Cashier Reed and President John H. Wagner made individual assignments. Later Peter Wagner, father of John H. Wagner and a large stockholder, assigned.
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Prices Go Booming. The announcement threw the trading ring into the wildest confusion. In an instant prices soared as traders endeavored to buy cotton to protect themselves. October and December cotton, within a minute's time, went up thirty-one and thirty-two points. The general estimates of the interest of the firm in the market range all the way from 50,000 to 100,000 bales. Ohio Bank Assigns. Sidney, Ohio, Aug. 24.-The German American bank, the oldest financial institution in Sidney, was today placed in the hands of a receiver, the bank being unable to meet their obligations as they became due. The liabilities are $500,000 and the assets $200,000.
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Sidney, O., Bank Fails. Sidney. O., August 24.-On application of Frank B. Reed, cashier of the German American bank, the oldest flnancial institution in Sidney, was today placed in the hands of a receiver. Reed stated in his petition that the bank could not meet the obligations as they came due. The Ynnk has a capital stock of $73,000. Its liabilities are estimated at $250,000 and assets at $200,000. W. H. C. Goode was appointed receiver. The opinion prevails that the bank will pay creditors in full. many of the stockholders being wealthy men.
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MUCH WORSE Is the Failure of the Sidney BankMrs. Linder Makes Assignment. Sidney, O., Aug. 26.-There has been very little information given out since the German American Bank went into the hands of a receiver yesterday morning to show the true condition of its affairs. Enough, however, developed today from reports from those having money on deposit in the bank to give evidence that the liabilities will be much larger than $200,000. The last report shows the resources of the bank as follows: Loans and discounts, $498,205.31; stocks, bonds and mortgages, $26,085.57; due from banks and bankers, $31,780.46; real estate, furniture and fixtures, $15,430.91; current expenses and taxes paid, $2,323.69; cash, $40,839.40. Total resources, $614.665.24. The liabilities, according to this report, were: Capital stock paid in, $73,500; surplus fund, $109,000; other undivided profits, $4,849.52; individual deposits, $427,315.72. Total liabilities, $614.665.24. This afternoon Mrs. Mary Linder, a stockholder in the bank, assigned to Joseph D. Anderson, of St. Mary's. John H. Wagner and F. D. Reed, the President and Cashier, respectively, of the bank, are still confined to their beds. Mr. Wagner is reported seriously ill this evening. This afternoon Judge Hoskins appointed J. B. Trimpe, C. F. Hickok and C. W. Fraser appraisers of the property of Peter and John Wagner, and A. Friedman, M. L. Heffelman and R. V. Jones appraisers of the property of F. D. and Mary Reed. A meeting of the members of the Sidney Commercial Club was held today and resolutions were passed deeply regretting the forced closing of the bank. It was resolved to do the utmost to preserve confidence in local business affairs. Faith was expressed in the integrity of John H. Wagner and the other officers of the bank and sympathy extended to them.
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NUMBER 13. Totten land lottery is Bruce G. Warren of Forest River, North Dakota, aged 22. Chicago packers resumed the importation of strike breakers on a large scale. Seven carloads arrived over the Erie and two carloads over the Monon. A petition has been mailed to President Roosevelt asking him to intervene in behalf of the men deported from Cripple Creek Saturday and protect them in their return to the district. The German American bank, the oldest financial institution in Sidney, Ohio, was placed in the hands of a receiver, the bank being unable to meet obligations as they became due. The liabilities are half 'a million, assets $200,000. At Newport Ward won the national tennis championship over Clothier. A Nyborg, Denmark, dispatch says that a large steamer flying the Russian naval flag passed through the great belt, southward bound. Justice Hurley said that if the showing was made to him that Postmaster General Payne had treated a court subpoena with scorn and refused service from a constable, an attachment would be issued for his arrest on the charge of contempt of court. Payne is wanted as a witness Friday. Chairman Cortelyou was the guest of the president last night. The only callers of importance at Sagamore Hill during the day was former Lieutenant Governor Woodruff of New York. His mission was to discuss the appointment of a successor of the late J. P. Brigham as assistant secretary of agriculture. Because the companies refused to abide by the wage agreement two strikes, affecting 2,000 men, was declared by the amalgamated association of iron steel and tin workers against the plants of the Republic Iron & Steel company, Pittsburg, and the Monagahela Steel & Iron company, McKeesport. In New Orleans notice was posted on the cotton exchange that H. F. Page & Co., cotton brokers, one of the most important firms on the exchange was unable to meet calls for margins. Prices soared as traders endeavored to buy cotton to protect themselves. October and December within a few minutes went up 31 and 32 points. General estimates of the interest of the firm in the market range all the way from $50,000 to $100,000 bales. The czar issued a lengthy manifesto on the occasion of the christening of the heir to the throne. Its text conforms with the outline given before. The christening took place yesterday in the church at Peterhof palace with imposing ceremony. A procession of gilded coaches accompanied the infant prince from Alexandriavilla to the church. After the metropolitan of St. Petersburg had administered the sacrament to the heir the emperor invested the latter with the insignia of the order of St. Andrew. Immediately thereafter, ringing bells and the firing of a salute of 101 guns announced the completion of the ceremony.
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A. P. Cary, of Sidney, has succeeded James Bailey as manager of Reed's Cottage resort at Lewistown reservior. Mr. Cary has been appointed to the place by the receiver of the German American bank, at Sidney. He says that while the stockholders may lose their stock the depositors in the defunct bank will undoubtedly be paid in full. The resort will not be closed.
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A Partial Report Made T. L. Robinson, W. H. Moreland and W. E. Kilbourne, appraisers in the case of the German American bank, made a partial report Thursday afternoon. They make a partial report of the assets of the bank and ask for an extension of time to make their detailed report. The report made shows: cash on hand and in banks $4,957.16, bonds $500. five pieces of real estate $34,700. notes and overdrafte, $200,877.66, total assets $241,634.82. A motion was also filed in the case that the receiver be authorized to insert notices in each of the weekly newspapers in Shelby county and a paper of general circulation in Cleveland and Cincinnati, notifying all parties holding claims against the German American bank to present them duly verified to the receiver for his allowance or rejection and that they present said claims within the next thirty days. On the motion for an extension of time to make a detailed report the appraisers were allowed an extension of ten days. The receiver this morning reported to the Court that the books of the bank are in such condition as to require an expert accountant to determine the assets and liabilities of the bank and its shareholders accurately and asks the Court to appoint an ex pert accountant.-Sidney Daily News.