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Not a Dollar Paid Out. YOUNGTOWN, Ohio, July 29.-As a result of malicieus rumors a run was started on the Dollar Savings and Trust company this morning. The bank required the legal notice and not a dollar was paid out. It has wealthy stockholders and 24 number of merchants have drawn large sums from other banks and deposited with it, allaying the excltement.
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THREE MORE AT PORTLAND. Financial Stringency in the Northwest Geting More Dangerous. PORTLAND, Ore., July 29.-The Commercial National Bank, Portland Savings Bank and the Ainsworth National Bank failed to open their doors this morning. With the exception of a slight run on the First National, the largest bank in the city. there 13 no excitement. The Commercial National and Portland Savings Bank are under the same management. A notice posted on each of the suspended banks says: "This bank is forced to temporarily suspend, owing to the heavy withdrawal of deposite during the last sixty days, and inability to realize on securities. Depositors will be paid in full." The Commercial National Bank had a paid up capital stock of $250,000. The Ainsworth National has a capital stock of @100,000. The statement of the Commercial National and the Ainsworth National, published July 12, shows resources as follows: Commercial, $1,950,000; Ainsworth. $687,000. Deposits-Commercial, $1,455,000; Ainsworth, $687,000. The Ainsworth National is a United States depository. No statement has yet been made of the condition of the Portland Savings Bank. It has a capital stook of $200,000, with is surplus of $202,000. At 1 P. M., the closing hour. the excitement had subsided and the withdrawal of deposits at the other banks ceased. while the business houses were making their usual Saturday deposits. Between the noon hour and the closing time deposits greatly exceeded the withdrawals. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. A statement of this bank shows resources $2,955,000, which 18 considered & conservative estimate. The liabilities are placed at $2. 475,000. During the last sixty days there has been a shrinkage of $600,000, while $80.000 has been withdrawn from the Commercial National Bank during the same period. The Commercial National Bank paid out $100,000 yesterday. Staving Off a Panic, YOUNGSTOWN, O., July 29.-Some mischievous person started a story, late yesterday afternoon. that the Dollar Savings and Trust Company was insolvent. This morning when the bank opened a crowd of depositors, mostly frightened women, wives of mill men, were at the bank to demand their money. Cashier Davis asked for the customary two weeks' notice, and not a dollar was paid out. The stockholders in the bank areamong the wealthiest citizens of the place. The bank is believed by all business men to be solvent. At noon several hundred people were crowding around the bank. At least a dozen merchants have drawn money from other banks and deposited in large amounts in the Savings bank. This 18 having the desired effect, and a panic will be prevented.
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BUSINESS TROUBLES. Failures in Different Sections of the Country-Assets Are Ample. PORTLAND. Ore., July 29.-The Commercial National bank. the Portland Savings bank and the Ainsworth National bank failed this morning. With the exception of a slight run on the First National. the largest bank in the city, there is no excite. ment. The Commercial National and the Portland Savings banks are under the same management. The notice posted says the suspension is temporary and depositors will be paid in full. The Commercial National has n capital of $250,000, the Ainsworth National $100,000. YOUNGSTOWN. O., July 29.-As a reanis of malicious rumors n run started on the Dol. lar Savings and Trust company this morning. The bank required legal notice And not n dollar was paid out. It has wealthy stockholders. A number of merchants drew large some from other banks and daposited with it, allaying the excitement. NEW YORK, July 29.-As a result of the action of the savings bank presidents at a meeting Inst night declaring they would require the legal notice for the withdrawal of funds, caused elight runs on the savings banks of this city and Brooklyn to-day. They are all able to protect themsel ves under the time clause of the law, and no failures occurred or ale anticipated. HAMILTON, Ohio, July 29. - The McNeal & Urban : afe and Lock company, one of the oldest safe films in the country, have assigned. AsHets $160,000, liabilities unknown. The firm claims to be solvent. NEW WHATOOM, Wash., July 29.-This morning the Paget Sound Loan, Trust and Bauking company suspended temporarily. The bank is capitalized At $125.000. Liabilities $50,000, assets $200,000. EAU CLAIRE, Wie., July 29.-The Commercial bank, capitalized at $500,000, was placed in the hands of a receiver to-day. President Allen said: 'We calculate depositors will not lose a dollar." KANKAKEE, Ill., July ).-The - First National bank failed this morning. Assets sufficient to pay depositors in full. AKRON, Ohio. July 29.-The Citizens Savings and Loan association failed this morning. It will pay in full.
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as Bank Run Staved Off. YOUNGSTOWN, 0., July 29.-As the result of malicious rumors a run was started on the Dollar Savings and Trust company this morning. The bank required legal notice, and not a dollar was paid out. It has wealthy stockholders. A number of merchants have drawn large sums from other banks and deposited with it, allaying the excitement.
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whv credit should not be sound. "No nation." said Harter, "bas ever successfully carried on business under two standards. PORTLAND'S TROUBLE. Three More Banks Fail to Open Their Doors. PORTLAND, Or., July 29.-Three banks failed to open their doors this morning. They were the Commercial National, Portland Savings and Ainsworth National. With the exception of a slight run on the First National there is no excitement. A notice posted on each of the suspended banks says the banks were forced to temporarily suspend, owing to the heavy withdrawal of deposits during the last sixty days and inability to realize on seourities. Dopositors will be paid in full. The Commercial National Bank has a paid-up capital stock of $250,000. Frank Dekum is president. The Portland Savings Bank is under the same management. L. L. Hawkins is president of the Alosworth National, which has a capital stock of $100,000. The statement of the Commercial National and Ainsworth National published July 12, shows the resources as follows: Commercial, $1,950,000; Ainsworth, $687.000. Deposits Commercial, $1,450,000; Ainsworth, $447,000. The Ainsworth National is a United States depository. No statement is yet made of the condition of the Portland Savings Bank. It has a capital stock of $260.000. with a surplus of $202,000. At the closing hour the situation was quiet, all other banks having stood the run. At each of the suspended banks a police officer is stationed to prevent any disorder. Small groups of men are standing on the streets discussing the situation, but there is no sign of any violence. All the three banks which were closed to-day are considered among the strongest in the city and depositors appear to have no fear of losing a cent. It is probable that all three banks will resume in a few days. On account of it being the end of the week most of the banks paid out more than was received. The Merchants' National, where the run occurred yesterday, received deposits in excess of the money paid out. J. Lowenberg, president of the Merchants', yesterday hypothecated all his real property in the city, and is said to have secured $200,000 in cash. This restored confidence and many persons drew their money from other banks and deposited it there. D. P. Thompson was appointed receiver of the Portland Savings Bank this afternoon. The statement of this bank shows resources estimated at $2,950,000. which 18 considered a conservative estimate. Its liabilities are placed at $2,475,000. During the last sixty days there has been a shrinkage of $600,000. while $800,000 has been withdrawn from the Commercial National during the same period. The Commercial National paid out $100,000 yesterday. A small bank at Forest Grove has closed owing to the Commercial National's suspension. The statement of the Union Banking Company, which closed yesterday. shows assets of $98,000 with liabilities of $53,000. The city has a claim for $13,000 and is the principal creditor. YOUNGSTOWN, Ohio, July 29.-As a.result of malicious rumors 8 run was started on the Dollar Savings and Trust Company this morning. The bank required legal notice, and not a dollar was paid out. It has wealthy stockholders. A number of merchants withdrew large sums from other banks and deposited with it, allaying the excitement. KANKAKEE, III., July 29.-The First National Bank failed this morning. The assets are sufficient to pay depositors in full. AKRON. Ohio, July 29-The Citizens' Savings and Loan Association failed this morning. It will pay in full. Capital, $100,000; surplus, $80,000. NEW WHATCOM, Wash., July 29.-This morning the following notice was posted on the doors of the Puget Sound Loan, Trust and Bank Company: "Owing to the constant withdrawals of deposits and inability to realize on securities this bank has suspended temporarily." The bank was incorporated under the State laws In 1890. with a capital stock of $125,000. The liabilities are $50,000 and the assets $200,000. WASHINGTON, July 29.-Comptroller Eckels appointed Louis C. Phelps receiver of the Merchants' National Bank of Great Falls, Mont. EAU CLAIRE, Wis., July 29.-The Commercial Bank, capital $50,000, was placed in the hands of a receiver to-day. President Allen said: "We calculate that the depositors will not lose a dollar." There were light runs on other banks. BOSTON. July 29.-A special from Manchester, N. H., says: Disclosures to-day tend to show that Cashier Morrell knew the worst and ran away rather than face the music. A director stated that in addition to the $60,000 of doubtful paper thrown out of the Derryfield Savings Bank, there is from $10,000 to $18,000 due depositors. It is now thought the deficiency in the bank mav go to $100,000. Rich Red Blood
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Withstood the Run. YOUNGSTOWN. O.. July 29.-Much excitement prevailed in this city this morning on account of a report that the Dollar Savings Bank had failed. The same report was circulated in the east end of the city last night, and when the bank opened its doors this morning there was a crowd of about 300 people waiting for admittance. The rumor was without foundation. and those who wanted their money got it. The fears of the crowd were soon allayed. and the run did not last long.
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BANKRUPT BREVITIES. As a result of the action of the say ings banks presidents of New York and Brooklyn at the meeting Friday night, declaring they would require legal no tice for the withdrawal of funds, there were slight runs on savings banks there yesterday. They were all able to protect themselves under the time clause of th law, and no failures occurred or are anticipated. The First National bank of Kanka kee, Ills., failed yesterday; assets suf ficient to pay depositors in full, A run was begun on the Trenton N. J.Savings bank yesterday; but as the bank is one of the strongest in the state no danger it looked for. The withdrawing depositors were paid in silver dollars. As a result of malicious rumors a run was started on the Dollar Sav ings and Trust company of Youngs town, Ohio, yesterday. The bank re quired the legal notice and not a dollar paid out. It has wealthy stockholders, and a number of the merchants drew large sums from the other banks and deposited with it, thus allaying the excitement. The McNeal & Urban Safe and Lock company of Hamilton, Ohio one of the oldest safe firms in the country has assigned; assets $160,000; liabilities un known. The firm claims to be solvent. A meeting of the creditors of Foster & Co., and Charles W. Foster of Fos teria, Ohio decided to employ an expert to examine the books to see whether there are any irregularities in recent transfers of real estate.
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Run on an Ohio Bank, YOUNGTON, 0., July 29.-As a result of malicious rumors a run was started on the Dollar Savings and Trust company this morning. The bank required the legal notice and not a dollar was paid out. It has wealthy stockholders and a number of merchants have drawn large sums from other banks and deposited with it, allaying the excitement.
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The Worst Over Here. YOUNGSTOWN, Ohio, July 31, 1893.-The mu on the Dollar Savings Bank has enirely subsided. and it is thought confilence in the local banks has been reSeveral tured in the public mind. rokers did a land office business Saturlay. buying book accounts with the Dollar Savings Bank, and this did much loward stopping the run. Quite a numDer of foreigners are drawing out their leposits to leave the country.
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Savings Banks Suspend. SPRINGNIELD. Mo., July 31.-The Springfield Savings Bank. with a capital of $25,000 and deposits of about $100.000. made an assignment this morning. The bank is solvent. and will pay in full. PENDLETON. Or., July 31.-The Pendleton Savings Bank has temporarily suspended. R. T. Cox has been appointed receiver. Assets. $250,000: liabilities. $135,000. YOUNGSTOWN, July 31.-The run on the Dollar Savings Bank has entirely subsided, and it is thought confidence in the local banks has been restored in the public mind. Several brokers did a land office business on Saturday. buying book accounts with the Dollar Savings Bank. and this did much toward stopping the run. Quite a number of foreigners are drawing out their deposits to leave the country. AKRON. July 31.-The Akron Savings Bank did not open this morning for business. William Buchtel. President of the bank, has been appointed receiver. The capital stock is $200.000. with a reserve fund of $50,000. and undivided profits of $18,000. The bank will pay dollar for dollar. The cause of suspension is inability to realize on securities.
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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.