Article Text
First National of Tyler. Tyler, Texas, November 30.-The First National bank of this city failed this morning and did not open Its doors for business. The president of the bank, H. H. Rowland, placed a notice on its front door that all depositors would be paid in full. The bank directory gave out a lengthy statement, in which they stated that heavy withdrawais had for some time been made by depositors: that about the time of the failure of the City National bank here on October 18. 1896, $30,000 were withdrawn and that from November 21 to 28 between $70,000 and $80,000 had been taken out by depositors and that since the bank's public statement of October 6, 1896, the bank's liabilities in the shape of bills payable and rediscounts have been reduced over $61,000. The officials of the bank, anticipating heavy withdrawals this morning. made every effort to procure the cash to meet the demands of depositers, but the time in which TO secure such funds was too short and they falled to do so. The directory states that there will be an effort to reorganize the bank and to resume business with reasonable hopes of success. The failure of this bank caused an almost total collapse here, as it did nearly all the business of this community. The failure of this bank precipitated a small run on the Tyler National bank here, the officers of which got out and published a statement of its condition, which seemed to satisfy its depositors and the withdrawals ceased.
