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FAILURE NO SURPRISE. The Merchants' National, of Jacksonville. JACKSONVILLE, FLA., February 16.The Merchants' National Bank, of this city closed its doors to-day by order of the directors. The bank had a capital stock of $100,000, and was the successor of the oldest banking-house in the State. That the institution was not in a sound condition was known in banking circles for several months, and the failure was not a surprise. The heavy withdrawals of deposits within the past month, and the inability to realize on securities, are stated by the president, John L. Marvin, to be the cause of the failure. His statement to the local press was as follows: "The Merchants' National Bank was forced to close by constant withdrawals of funds by depositors and inability of the bank to realize on amounts due it from borrowers. The assets, however, are ample to pay depositors in full, but it will take a little while to realize on the securities. Comptroller Eckels has been notified, and will shortly appoint some one to take charge of the bank, which will remain closed until a receiver is appointed." The bankers of this city last Saturday held a conference and appointed a committee, consisting of Messrs. H. G. Aird, R. C. Cooley, T. P. Denham, and B. H. Barret, to investigate the bank's accounts. These gentlemen made a thorough examination, and Mr. Cooley, who was authorized as spokesman for the committee, said that it was the belief of the committee, after examining the securities, that depositors would be paid in full, but that it would take some little time. One thing the committee emphasized, and that was the failure was not brought about by anything dishonorable. The deposits amounted to $112,000, and the outstanding loans amount to $232,000. No other statements have been given out. The bank's failure has caused the failure of the large retail shoe house of Charles Marvin & Co. The president of the bank was the principal owner of the shoe house.