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KRUMBHAAR'S ULTIMATUM TO BANKS. He Tells Several Philadelphia Houses They Must Fix Up Their Capital. PHILADELPHIA, April 12.-State Superintendent of Banks Krumbhaar to-day notified half a dozen financial institutions of this city that they must make good impairments in their capital or they would be closed. Mr. Krumbhaar refused to discuss the matter, but two of the institutions so notified by him are the Finance Company of Pennsylvania,and the Investment Company of Philadelphia. Both of these companies were said to have been badly shaken during the financial panic of the tall of 1890. George W. Blabon, President of the Finance Company, this evening acknowledged that the company had received a notice such as the above from Superintendent Krumbhaar. He said that the company held among its assets $500,000 each of the bonds of the Oregon and Pacific Railroad and the Charleston, Cincinnati and Chicago Railroad. He said Superintendent Krumbhaar probably inferred that if these securities were forced upon the market they would be practically worthless, hence his action. Mr. Blabon said that the officers of the company did not agree with Superintendent Krumbhaar in this, but believed that the securities would be valuable. Mr. Blabon added that if it is found that the capital was impaired it will be reduced sufficiently to meet the deficit. A gentleman closely connected with the investment company, said that the company had been embarrassed by the failure of the Baring Bros., but that since that time they had notified all the depositors to withdraw their accounts, and they had not received any deposits since. He added that the company was gradually liquidating its liabilities, and that stockhoiders would be the only losers, if there is any loss.
