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TWO BANKS CLOSE. National Institutions In Ohio and Oklahoma Forced to Suspend Operations. Canton, Ohio, May 24.-The Canton State Bank closed its doors today. The cause of the failure is unknown. The report of the financial condition of the bank on March 6th, last, showed its resources were $839,552. First National of Lexington Fails. Washington, D. C., May 24.-The comptroller of the currency has been advised that the First National Bank of Lexington, Oklahoma, failed today.
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BANK CLOSED ITS DOORS. First National at Lexington, Okla., Suspended Business. The First National Bank of Lexington, Okla., having failed to open its doors yesterday, Vice President Lawrence Voltz explained that he found there was insufficient cash on hand for his needs and he concluded to close the bank temporarily. He is confident that the bank will be closed only a few days. The failure is due to inability to realize on collateral. The controller of the currency has been advised that the First National Bank of Lexington, Okla., failed yesterday. National Bank Examiner Myron R. Sturtevant has been appointed receiver. The last examination of this bank showed its capital to be impaired by losses, and the controller ordered an assessment on the stockholders to make the impairment good, or the placing of the bank in involuntary liquidation. The following is a statement of the resources and liabilities of the bank, as shown by the last report of condition, March 14, 1905:
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TWO MORE BANKS GO TO THE WALL Institution in Ohio and One in Oklahoma Forced to Close. CANTON, Ohio, May 24.-The Canton State Bank, with deposits of more than $600,000, closed its doors to-day. The directors state that the bank will not be able to resume business. The failure was brought about by heavy loans to W. L. Davis, vice president of the bank. by the cashier, Corwin B. Bachtell, without the consent of the other directors of the bank. According to the statement made by counsel for the directors, more than $400,000 has been given to Davis for which no adequate security has been furnished to the bank. Davis has deeded to the bank property valued at $200,000. The city of Canton has $76,000 on deposit in the bank. The Canton Young Men's Christian Association and many school teachers were also depositors in the bank. OKLAHOMA CITY, Okla., May 24.The First National Bank of Lexington, Okla. failed to open its doors at 9 o'clock to-day. Vice President Lawrence Voltz says that he found there was insufficient cash on hand for present needs and he concluded to close the bank temporarily. He is confident that the bank will only be closed for a few days. WASHINGTON. May 24.-National Bank Examiner Sturtevant has been appointed receiver for the First National Bank of Lexington, Okla. The last examination, of this bank showed its capital to be impaired by losses, and the Comptroller ordered an assessment on the stockholders to make the impairment good, or the placing of the bank in voluntary liquidation.
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TWO BANK FAILURES. Canton, 0., Institution Closes Its Doors -Will Not Resume. Canton, Ohio, May 24.-The Canton State bank, with individual deposits of more than $600,000, closed its doors today. The directors state that the bank will not be able to resume business. The failure was brought about by heavy loans to W. L. Davis, vice president of the bank, by the cashier, Corwin B. Bachtelle, without the consent of the other directors of the bank. According to a statement made by counsel for the directors more than $400,000 has been given to Davis for which no adequate security has been furnished to the bank. Davis has deeded to the bank property valued at $200,000. The city of Canton has $76,000 on deposit in the bank. The Canton Y. M. C. A. and many school teachers were also depositors in the bank. Washington, May 24.-The comptroller of the currency has been advised that the First National bank of Lexington, Okla., failed to-day. National Bank Examiner Myron R. Sturtevant has been appointed receiver. The last examination of this bank showed its capital to be impaired by losses, and the comptroller ordered an assessment on the stockholders to make up the impairment, or the placing of the bank in voluntary liquidation. Oklahoma City, Okla., May 24.-The First National bank of Lexington, Okla., having failed to open its doors to-day Vice President Lawrence Voltz explains that he found there was insufficient cash on hand for his needs, and he concluded to close the band temporarily. He is confident that the bank will be closed only a few days. The failure is due to inability to realize on collateral,
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Oklahoma Bank Suspends. Oklahoma City, Okla., May 25.-The First National bank of Lexington, Okla., failed to open its doors during the day. Vice President Lawrence Voltz stys that he found there was insufficient cash on hand for his needs and he concluded to close the bank temporarily. He is confident that the bank will be closed only a few days. The failure is due to inability to realize on collateral.
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SHORTNESS OF CASH Causes Failure cf National Bank in Lexington, Okla. Washington, May 24.-The comptroller of the currency has been advised that the First National Bank of Lexington. Okla., failed, today. National Bank Examiner Myron R. Sturtevant has been appointed receiver. The last examination of this bank showed its capital to be impaired by losses. and the comptroller ordered an assessment on the stockholders to make up the impairment or the placing of the bank in voluntary liquidation.
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OKLAHOMA BANK FAILS Capital Was Impaired and the Comptroller Ordered That Operations Cease. Oklahoma City, Okla., May 24.-The First National bank of Lexington, Okla., failed to open its doors at 9 o'clock today. Vice President Lawrence Voltz says that he found there was insufficient cash on hand for present needs and he concluded to close the bank temporarily. He is confident that the bank will only be closed a few days and the failure is due to inability to realize on collateral. Washington, May 24.-The comptroller of the currency has been advised that the First National bank of Lexington, Okla., failed today. National Bank Examiner Sturtevant has been appointed receiver. The last examination of this bank showed its capital to be impaired by losses, and the comptroller ordered an assessment on the stockholders to make the impairment good, or the placing of the bank in voluntary liquidation.
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BANK FAILS AT LEXINGTON Washington, May 25. -The comptroller of the currency has been advised that the First National Bank of Lexington, Okla., failed today, National Bank Examiner Sturtevant has been appointed receiver. The last examination of this bank showed its capital to be impaired by losses and the comptroller ordered an assessment on the stock holders to make the impairment good, or the placing of the bank in voluntary liquidaton.
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GENERAL NEWS SUMMARY. The First National Bank of Lexington, Oklahoma, failed on May 24. Holzman & Co., of Cincinnati, bankers and brokers and members of the New York Stock Exchange have assigned Assets and liabilities are about equal, $100,000. The suspension of the Canton State Bank at Canton, Ohio, on May 24, caused the People's Deposit Bank of Mineral City, Ohio, to close its doors the next day. Burnett, Cummins & Co., bankers, of Boston, Mass., have failed. Liabilities, $1,700,000; assets nominal. It is announced suspension of the firm was due to the late financial troubles of the railways in which it is interested. According to the report of Secretary Haywood to the Convention of the Western Federation of Miners at Salt Lake last week the membership numbers 58,000 men, of whom 9906 were taken in during the past year. The Federation embraces 238 Local Unions, 11 District Unions and 3 State Unions. The only bridge crossing the Mississippi river between St. Louis and Memphis-opening a new gateway with the South and Southwest-was opened at Thebes, Ill., on May 25. The bridge was dedicated to the uses of five great railroad systems and the business of two great sections of the nation. It cost approximately $3,000,000. The San Francisco Bulletin has been sued for $50,000 damages by Mrs. E. E. Dobson, widow of Dr. Dobson, a San Francisco society woman whose picture was used in the paper, by mistake, as that of "Countess Leona," a notorious character, in connection with the case of E. J. Smith, the defaulting Tax Collector, at the time he fled from the city.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank falls. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (I11.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, M h., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co. Saulte St Marie, Mich. : liabilities $85,000; assets $65, 000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. -Ladoga, Ind., bank; assets $80,000 liabilities $109,000. 24-Canton, O. state bank closes Lexing. ton Okla., First national bank falls, 26-Barberton O., First national bank Jun, -Ladysmith, Wis., First national bank closed. 9-Fyfe & Munson, Chicago, placed in re celver's hands, 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly H Co., Chicago, 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, III., and Toluea, III., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes, 20-City national bank Kansas City, Mo. Aug 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky: due tc overloans. Sep. 19-Minot, B. D., national bank closes doors. Oct, 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency,
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed: receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-American bank. Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.: liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis: liabilities, $200,000. Apr 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 24-Canton, O., state bank closes... Lexington, Okla., First national bank fails. 26-Barberton. O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands 23-Vicksburg, Mich., exchange bank. 26-Knight. Donnelly & Co., Chicago 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, IIL, national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'eago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company. American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failcres Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 23-Strauss-Green Co., Toledo, O.; liabilities $115,000, assets $100,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 6-Spartansburg, Pa., bank; capital, $25,000. 7-Coe Co., Minneapolis; liabilities, $200,000. 31-Citizens' bank, Lorain, O., as result of defalcation. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 16-Owosso, Mich., private bank closes. 23-Merchants' Trust Co., New York, closed. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank 27-R. H. York & Co.. old Cleveland, O., brokers; liabilities, $40,000. Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 21-City Trust Co., Philadelphia, closes doors. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities. $125,000. 13-Citizens' bank, Yellow Springs, O.; liabilities, $50,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 10-Four Denver, Col., Western bank officials' arrested on fraud charge. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. 27-Johnson & Sloan, Minneapolis, Minn.; liabilities, $200,000 First national bank, Orville, O., closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis. Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed: receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.: due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home SavIngs and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 23-Strauss-Green Co., Toledo, O.; liabilities $115,000. assets $100,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co. Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 6-Spartansburg Pa. bank: capital, $25,000. 7-Coe Co., Minneapolis; liabilities, $200,000. 31-Citizens' bank, Lorain, O., as result of defalcation. Apr. 3-Ladoga, Ind., bank; assets $80,000. liabilities $109,000. 16-Owosso, Mich., private bank closes. 23-Merchants' Trust Co., New York, closed. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank 27-R. H. York & Co., old Cleveland, O., brokers; liabilities, $40,000. Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in recelver's hands. 21-City Trust Co., Philadelphia, closes doors. 23-Vicksburg, Mich. exchange bank. 26-Knight, Donnelly & Co., Chicago, 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, III., and Toluca, III., national banks close. 6-Hagerstown. Ind., Commercial bank; liabilities, $125,000. 13-Citizens bank, Yellow Springs, O.: liabilities, $50,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 10-Four Denver, Col., Western bank officials arrested on fraud charge. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot. S. D., national bank closes doors. 27-Johnson & Sloan, Minneapolis, Minn.: liabilities, $200,000 First national bank, Orville, O., closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home SavIngs and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn. close doors; first named in liquidation.
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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3--Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III, national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.