4febeadcFull suspension, Books examined
Other: Receiver appointment mentioned; OCR errors in articles corrected in notes.
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# ABSOLUTELY PURE drawals. A constant drain on the banks by scared depositors brought about the crisis. It is stated by bankers that no less than $8,000,000 has been drawn from the banks in the last three months. Of this at least $5,000,000 is locked up in this city. The First National, Colorado National and several others could not be closed even if the run continued. # LOST WHILE FIS Frank Treen Suppose Drowned in Cedar B
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The Whatcom Bank Receiverships. Whatcom, Nov. 6. -Special.-At the meeting of the depositors in the Bellingham Bay National bank yesterday, representing about two-thirds of the total deposits, the following resolutions were adopted: "Whereas, The experience of the bank depositors of New Whatcom with receivers appointed from non-residents has been very unsatisfactory in the past, and whereas, the Bellingham Bay National bank has recently failed: therefore be it resolved by a meeting of the depositors of said bank, held November 5, after due notice to all concerned, that we indorse the appointment of a resident of Whatcom county to the position of receiver of said bank, and respectifully petition the comptroller to appoint such a resident for the following reasons: "An outside receiver meas the employment of outside attorneys and the corresponding increase la all expenses in liquidating the bank. A local receiver would be, under the circumstances. better qualified to cope with the affairs of the bank. the securities held by the same, and to realize for the depositors. And we would most earnestly request that as we are the par ties most interested in this matter, that our wishes as to a local appointment recelve your careful consideration." E. J. Hin, one of the capdidates for the receivership end the Whatcom member of the state Democratic committee, made a brief but emphatic speech opposing the resolution in general as reflecting upon the judgement and good faith of Comptroller Eckels, but the depositors were in no mood for the consideration of questions of sentiment or of other than what they deemed the practical and substantial facts of the condition confronting them, and the resolution was promptly rushed through. The resolution has special reference to the receivership of George B. Blancharl, of Tacoma, of the Columbia National and First National, of this city, which suspended during the panic of 1893. He was also in charge, as examiner, of the Bellingham Bay National until It resumed. The others have not resumed, and there is no likeWhood that they ever will, and the experience of their creditors with Mr. Blanchand is milly referred to in the resolutions as "very unsatisfactory." Yet there is a report current now that he has been appointed receiver of the Bellingham Bay National.
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U. S. GIVES DOUGLAS POST Assistant to General Drain Made Bank H. Douglas, principal assistJames Drain receiver the National has the First Seattle, which closed its doors the first this The by the CurrenJohn Pole Mr. Douglas left for his new post yesterday. His family Mr. Douglas was identified with the since bank closed January Recently tailed by the comptroller's office the receiver na Freeno, Cal., in get ting his