Article Text
Making in all, $148,701.23. The great probability is that the bulk of this money will not be realized for some time to come, after the liquidation through which the national banks must pass in the hands of receivers. Two officers of the Treasury Department of the United States Government took possession of the books and funds of the Merchants National Bank to-day preparatory to winding up its affairs as required by law. A number of the people of the country came to the city this morning for the purpose of making an attempt to draw out their deposits, but finding there was nothing to be accomplished they quietly returned home, carrying along with them their sore and sad disappointment. There is to be a meeting of merchantsand business men at the Tobacco Exchange tomorrow for the purpose of devising measures to meet the extraordinary panie. There are a number of rumors in regard to the meeting and probable propositions of relief that may be suggested, but nothing detinite has transpired. A case of peculiar hardship in connection with the swamping of the city's funds was the inability of the School Board to pay the salaries of the teachers. Application was made by the chairman of the Finance Committee and the president of the School Board on Monday for $10,000 to pay the teachers
