e7e2cd871503e80aAccommodated withdrawals
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A Small Run at Madison. Madison, Wis., June 5.-There was a small run on the First National Bank today, but not enough to cause any great excitement. The bank's balance at the close of business Saturday showed $259,000 on hand to meet demands, and the officers of the bank are not at all alarmed.
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A Wisconsin Bank Suspends. MANITOWOC, Wis., June 6.-The State Bank of this city has closed. The capital stock was $50,000 and the surplus $10,000. The Manitowoo Savings Bank is experienceing a light run. Reports from Racine say a run is in progress on the Manufacturers' National Bank. At Madison the run on the First National Bank has increased in vigor, while other banks are having increased demands.
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Wisconsin Hanks. MANTTOWOC, Wis.. June 6.-The State bank of this city failed. It had a capital of $50,000. surplus $10,000. Manitowoe savings bank is now experiencing a slight run. At Madison the run on the First national has increased. and other banks are having increased demands.
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Rune on " Isconsin Banks. MASTIOWOC, Wis., June 6.-The State bank of this city. failed today. It had a capital of $50,000 and a surplus of $10,000. The Manitowor Savings bank is now experiencing a slight run. Reports from Racine say that a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased, and other banks are having increased demands, (Ca/vin C. Barnes is president an t George B. Burnit cashier of the State bank, of Manitowoc. John Sebutte is president and L. Schutta cashión of the ManitowoeSaviogs bank E. yr. Erskine is president and B. R. Northrys cashiér of the Manufacturers' National bank, of Racirie N. + Van Slyke is president and W. Ramsay cashike of the First National bank, of Madison.]
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WISCONSIN BANKS, The State Bank of Manitowoc Succumbs -Runs on Others. MILWAUKEE, Wis., June 6.-The State Bank of Manitowoc has failed. It had a capital of $50,000 and a surplus of $10,000. The Manitowoc Savings bank is now experiencing a slight run. Returns from Racine say a slight run is in progress on the Manufacturers' National. At Madison the run on the First National has increased, and other banks are having increased demands.
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slight run. Reports from Racine say that a run is in progress on the Manufacturers National bank. At Madison the run on the First National has increased. Other banks are having increased demands.
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CRIPPLED BANKS. Small Country Banks in Wisconsin Suspend Payment. NEW YORK, June 6.-State Examiner Preston took charge of the affairs of the Canal Street bauk, at 206 Canal street, this morning. The bank went into voluntary liquidation yesterday because of the refusal of the Shoe and Leather bank to clear for the Canal Street bank. Two RIVERS, Wis., June 6.-The Bank of Two Rivers failed this morning. A statement from the officials as to the cause and condition of the bank cannot be had, as the cashier and principal owner, David Becker, is not in the city. MILWAUKEE, June 6.-The flurry in financial circles of last week has passed away. This morning there is not a run on a single bank in town. The Commercial, Second Ward and South Side Savings banks present their usual appearance, and confidence seems to have been completely restored. It was thought that the flurry in Chicago would have its effect here, but its influence does not seem to have been felt at all. TOLEDO, O., June 6.-A Blade special says the savings bank of Andrew Sauer, at Defiance, failed. Particulars soon as received. Liabilities, $100,000. TROY, N. Y., June 6.-The affairs of Neher & Carpenter, brokers and private bankers, who failed some time ago, are not in an encouraging condition. The liabilities are about $235,000 and the actual value of the assets $131,000. Neher & Carpenter were the Eastern agents of the North western Guaranty Loan association, of Minneapolis. MILWAUKEE, June 6.-A special from Manitowoc, Wis., says the State bank in that city has closed. Its capital stock was $50.000, and the surplus $10,000. The Manitowoc Savings bank is now experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased in vigor, while other banks are having increased demands. SPOKANE, Wash., Jnne 6.-The Washington National bank and its adjunct, the Washington Savings bank, closed their doors this morning. They were crippled by the quiet run yesterday. Both show strong assets in excess of liabilities, but could not get money in time for the sudden whirl. The other banks are being subjected to a severe run, but seem to be standing the strain well.
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THE panic which is running over the country is exactly like the Indian scare in the early 60's, with the exception that the Indian scare injured no one while the present panic is injuring every one by depressing business and is wiping away fortunes. There is just as much reason for the panic now prevailing as there was for the Indian scare. There is no bank in the world which can pay all its depositors if all call at once. If a farmer has a mortgage on his property he is not expected to pay it on demand. Not one in a hundred could do so. A run was made on a Chicago bank on Monday. It was the Illinois Trust and Savings Bank. They were prepared for it and placed seven tellers at seven windows. When the time for closing came the bank remained open. All through the night it remained open and the President announced that it would remain so until every man was paid. The certificates were not due until July 1 and the bank saved $35,000 in interest due. The depositors threw that much away in their fright. At Madison a farmer was refused a loan of $200 at the First National Bank. He went home and reported that the bank had no money to lend. This caused a rush the next day and the next but the bank stood it all right. Together with breaking the banks this frenzy of fear has paralyzed business. There is no money with which to do business. It is stowed away in secret places and burglars and foot pads will soon reap a har rest. They will not miss the opportunity they now have and will quit breaking safes for the less dangerous and more profitable business of "going through" people who have money stowed away.
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JUST A LITTLE RUN. Madison Wis., June 6.-There. were rumers of a slight run on the First National bank this morning, but there were not enough calls of depositors to create any excitement. The bank's weekly balance sheet shows $359,000 in cash on hand this morning to meet demands and no fears are entertained by the officers.
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CRASHES AT OTHER POINTS. The following is a summary of the financial disasters recorded Tuesday: Maintowor, Wis.-State Bank of Maintowoc after standing a three weeks' run. Defiance, 0.-Andrew Sauer's Savings Bank: liabilities, $100,000; assets $150 000. Boston.-Potter & Potter, magazine and newspaper publishers; liabilities $100,000. Philadelphia.-Same E. Prince. marble quarryman; liabilities $100,000; nominal as. setts $250,000. Troy. N. Y.-Neber & Carrenter. private bankers and brokers; liabilities, $235,000; actual assets, $131,000. Three Rivers. Mich.-Bank of Three Rivers, capitalization, $10,000; accounts due depositors at last statement, $60,000. Spokane, Wash.-Washington National and Washington Savings Banks; assets in excess of liabilities. Racine, Wis.-A run is in progress on the Manufacturers' National Bank. At Madison the First National is being subjected to a heavy run. Two Rivers, Wis.-The Bank of Two Rivers failed. The owner, David Becker, is not in the city. Evanston, III.Charles S. Winslow has been appointed receiver of the Evanston National Bank, Spokane. Wash.-The Comptroller has directed Bank Examiner E. T. Wilson to take charge of the Citizens' National Bank and the Washington National Bank. New Albany. Ind.-The New Albany Banking Company closed its doors owing to the fall of the Bedford Bank. Assets claim. ed, $212.000; liabilities. $100,000. Bedford, Ind.-The Belford Bank has suspended after a run. Palouse, Wash.- The First National Bank has suspended, owing to the Bank of Spokane's failure. Chicago-Joseph Rathbone & Co., lumber dealers. have assigned. Scheduled assets, $500,000. The run on the Banks has ceased. Cleveland, 0.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. No cause except fail 'rres in other cities.