Falls City Bank (Louisville, KY)

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Carried by the Clearing House

LOUISVILLE, July 10.-The Falls City bank made an assignment this morning. Maj. Tillman. cashier says the liabilities are $431,000; assets nominal, $1,223,000. It it said that from the beginning of the financial panic last year the bank has been carried along by the clearing house, being on the ragged edge all the time. The bank owes the clearing house $223,900. It has been known for several days it WAS only a matter of time before the bank would have to go. Depositors will be paid in full and stockholders will possibly get thirty-five conts.

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A LOUISVILLE BANK FAILS

Depositors Will be Paid in Full-Stockholders in the Soup. LOUISVILLE, KY., July 10.-The - Falls City Bank, established in 1865, went to the wall this morning, making an assignment to the Mechanics Trust Company, and closed its doors at No. 701 West Main street. The liabilities are $431,300, of which $223,900 are due the clearing house, and the deposits are $191,700. The assets, nominally, are $1,223,000. From the beginning of the financial panic last year the bank has been carried along by the clearing house being on the ragged edge all the time. It, has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full and stockholders will get possibly 35 cents on the dollar. The capital stock is $600,000; J. T. Moore is president. The bankers regard the failure as an excellent one, as the creditors were getting ready to bring attachments.

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A FINANCIAL CRASH

The Falls City Bank, of Louisville, Closes Its Doors. LOUISVILLE, KY., July 10.-Financial circles received a tremendousshock this morning, when it was officially announced that the Falls Citv Bank had closed its doors. It was S private corporation, and has been in a shaky condition since last fall, when a run was made on it by its depositors. The liabialities are about $431,000; assets, nominal, $1,223,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits.

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FALLS CITY BANK CLOSES ITS DOORS

-It was Robbed several Years Ago and Has Never Recovered. By The United Press. LOUISVILLE, Ky., July 10.Financial circles received a tremendous shock this morning, when it was officially announced that the Falls City Bank had closed its doors. It was a private concern, and has been in a shaky condition since last fall, when a run was made on it by depositors. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits. In March, 1873, on a Saturday night the bank was robbed of between four and six hundred thousand dollars in cash and convertable securities. The thieves rented a room just over the bank's vault and worked through the top. The robbery was not discovered until Monday morning as the thieves had fastened the bolts back SO that they could not be opened except by expert workmen. The thieves were never caught, though between $200,000 and $300,000 was recovered at a cost of $83,000.

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BIG BANK FAILURE

The Falls City Bank, of Louisville, Forced to Close Its Doors. Louisville, July 11.-Financial circles received a tremendous shock Friday morning when it was officially announced that the Falls City bank had closed its doors. It was a private corporation, and has been in a shaky condition since last fall when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000. Assets $100,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose any of their deposits. The Falls City bank officers now state that their assets will be $1,200,000, and liabilities little more than half that amount. The-depositors will be paid in full, and it is expected there will be something left for the stockholders. The bank's money was tied up in loans and this. together with the depositor's withdrawals, brought about the collapse.

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A HEAVY FAILURE

Falls City Bank Suspends With Liabilities of $1,000,000. LOUISVILLE, Ky., July 10.-|Special]Financial circles received a tremendous sheck this morning when it was officially announced that the Falls City Bank had closed its doors. It was a private corperation and had been in a shaky condition since last fall, when a run was made on it by its depositors. The liabilites are about $1,200,000, assets $600,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose all their deposits. In March, 1873, on a Saturday night, the bank was robbed of between $300,000 and $400,000 in cash and convertible securities. The thieves rented a room just over the bank's vault and worked down through the top. The robbery was not discovered until Monday, as the thieves had fastoned the bolts back SO that they could not be opened except by expert workmen. The thieves were never caught. thought between $200,000 and $300,000 was recovered at a cost of $83,000.

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Falls City Bank Agsigns

LOUISVILLE, Ky., July 10.-The Falls City bank made an assignment this morning. Major Tellman, cashier, says the liabilities are $431,000; assets (nominal) $1,223,000. It is said that from the beginning of the financial panic last year the bank has been carried along by the clearing house, being on a ragged edge all the time. The bank owes the clearing house $223,900. It has been known for several daysit was only & matter of time before

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FALL CITY BANK, Louisville, Ky., Goes to the Wall-Depositors to be Paid in Full. LOUISVILLE, KY., July $10.-The Falls City bank went to the wall this morning. The bank made an assignment to the Mechanics' trust company and closed its doors at 71 West Main street. The liabilities are $431,000, of which $223,900 is due to the clearing house. and deposits are $191,700. The assets (nominal) are $1,223,000. From. the beginning of the financial panic last year the bank has been carried along by the clearing house, being on the ragged edge all the time. It has been known for several days that it was only a matter of time before the bank would have to go. Depositors will be paid in full, and the stockholders will get possibly 35 cents on the $1. The capital stock of the bank is $600,000, with J. Q. Moore president. Bankers regard the failure as an excellent one, as creditors were getting ready to bring attachments.

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HEAVY BANK FAILURE The Falls City Bank of Louisville Closes Its Doors-Liabilities One Million. A Wind Storm at Faribault, Minn., Does Much Damage to Property. LOUISVILLE, July 10.-The - Falls City bank of Louieville has closed its doors. It was a private corporation and has been in a shaky condition since last fall, when a run was made on it by depositors. The liabilities are supposed to be about $1,300,000; assets $500,000. Its capital stock was placed at $600,000. It is thought that the depositors will not lose their deposits.

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CLOSED ITS DOORS

The Falls City Bank of Louisville, Ky., Succumbs to a Continuance of Adversity -An Assignment Made and the Doors Closed-The Depositors will be Paid in Full and the Stockholders May Realize Something. LOUISVILLE, Ky., July 11.-The Falls City bank has closed its doors and entered into a deed of assignment, conveying all of its assets to the Mechanics' Trust Co. for the benefit of its creditors. The news caused a great shock in the business community, although it has been known that the bank was in a shaky condition for some time. Generous and prompt assistance has kept the unfortunate financial institution on its feet for six months, but the collapse will have but little effect on local financiers. The failure six months ago might have entailed serious consequences and have forced several banks to the wall. There is a general feeling of confidence throughout the local money market and all the banks can stand the slight run that may be caused among their depositors by the Fall City collapse. The history of the bank's embarrassments dates from the beginning of the panie which spread over the country last fall in consequence of the Barring Bros' complications and the collapse of the Argentine securities. Though ably managed, the Falls City bank had got very low in its cash when the tidal wave broke over the country, and rumors of its shaky condition having been circulated throughout business circles there was a steady withdrawal of deposits. At this time a meeting of the clearing house and banks was held and a special aid committee was appointed to inquire into the standing of the bank daily and render the necessary assistance to tide them through the crisis when a failure would mean disaster to all. The local banks advanced $100,000 and offers came from the country banks as well, but they were declined. For a week past the directors of the bank and the clearinghouse committee have been in consultation daily regarding the collapse that was bound to come in time, and it was generally agreed that as there seemed to be no means of building up the business at present, and the situation was becoming daily more complicated, a suspension and assignment was the wisest thing that could be done. The local bankers are loth to discuss the failure. In March, 1873, on a Saturday night, the bank was robbed of between $300,000 and $400,000 in cash and convertible securities. The thieves rented a room just over the bank's vault and worked down through the top. The robbery was not discovered until Monday morning as the thieves had fastened bolts back so that they could not be opened expect by expert workmen. The thieves were never caught. though between $200,000 and $300,000 was recovered at a cost of $83,000. The Falls City bank officers now state that their assets will be $1,200,000 and liabilities a little more than half that amount. The depositors will be paid in full, and it is expected there will be something left for the stockholders. The bank's money was tied up in loans, and this, together with the depositors' withdrawals, brought about the collapse.

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OVER A MILLION

Enormous Debts of the Falls Bank of Louisville, Ky. LOUISVILLE, Ky., July 11.-The Falls City bank has closed its doors, making an assignment to the Mechanics' Trust Company. Bad debts and bad management are responsible. For over six months the clearing house has been tiding it over, but it was never able to recover from the panie of last December, when the general money market was so tight. It had a capital stock of $600,000. The liabilities, ineluding the capital stock, will reach $1,200,000. The depositors will probably be paid in full, but the stockholders will be fortunate if they get 10 per cent. The bank has been in a tottering condition for some time. It began to topple last December, but the other banks, fearful that its failure would precipitate a general crash, came to its rescue. First the clearing house loaned it $50,000, then a month later $50,000 more. It has thus been kept up until the danger of a general panie was averted. The other banks, however, have since obtained a firm footing and recently concluded to withdraw the props from the Falls City bank. This was done with the above result. In 1869 this bank was the victim of one of the most sensational robberies in criminal history. The robbers engaged a room overhead and bored through the walls into the vault, securing $400,000 in money and collaterals.

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Shaky Since Last Fall

LOUISVILLE, Ky., July 11.-Financia circles received a tremendous shock this morning when it was officially announced that the Falls City bank had closed its doors. It was a private concern and has been shaky since last fall, when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000; assets, $1,000,000. Its capital stock was placed at $600,000. It is not thought that the depositers will lose anything.

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FINANCIAL AND INDUSTRIAL -A

F. Phelps, fruit and general commission, of Omaha, failed. Liabilities, $25.000; assets, $10,000. He has a house also at Leavenworth. Kan. -The commander of the British naval officers in Newfoundland waters has issued an order closing fifty-eight lobster factories along the French coast, which, it is alleged, are running in violation of the modus vivendi. Over a thousand fishermen and others are thrown out of employment. Much indignation prevails. and it is doubtful if the season passes without a collision. -At Louisville, Ky., the Falls City Bank went to the wall. Major William Tillman, the Cashier, gives out the following statement of each in round numbers: Liabilities-Individual depositors. $161,000; savings deposits, $30,700; c rtificates of deposit. $15,700; the banks and clearing house, $223,900; total, $431,300. Assets-

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Shaky Since Last Fall

LOUISVILLE, Ky., July 11.-Financial circles received a tremendous shock this morning when it was officially announced that the Falls City bank had closed its doors. It was a private concern and has been shaky since last fall, when a run was made on it by its depositors. The liabilities are supposed to be about $1,300,000; assets, $1,000,000. Its capital stock was placed at $600,000. It is not thought that the depositors will lose anything.

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A Bank Gone to the Wall. LOUISVILLE, July 10.-The Falls City bank went to the wall this morning. The bank made an assignment to the Mechanic Trust Co. and closed its doors. Liabilities $431,300, of which $223,000 is due the clearing house, and deposits are $191,700. Assets nominal are $1,223,000. From the beginning of the financial panic last year the bank has been carried along by the clearing house.

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An "Excellent" Bank Failure

LOUISVILLE, Kv., July 10.-The Falls City Bank, established in 1865, went to the wall this morning, making an assignment to the Mechanic Trust Company and closed it doors at 701 West Main street. Liabilities $431,300, of which $223,900 is due the clearing house. and deposits are $191,700, assets nominally $123.600. From the beginning of the financial panic last year the bank has been carried along by the clearing house, being on the ragged edge all the time. It has been known for several days that it was only a matter of time before it would have to go. Depositors will be paid in full and stock. holders will get possibly 35 cents on the dollar. The capital stock is $600,000. J. T. Moore Is president. Bankers regard the failure as an excellent one, as creditors were getting ready to bring attachments.

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An "Excellent" Bank Failure

LOUISVILLE, Ky., July 10.-The Falls City Bank, established in 1865, went to the wall this morning, making an assignment to the Mechanic Trust Company and closed it doors at 701 West Main street. Liabilities $431,300, of which $223,900 is due the clearing house. and deposits are $191,700, assets nominally $123.000. From the begiening of the financial panic last year the bank has been carried along by the clearing house, being on the ragged edge all the time. It has been known for several days that it was only a matter of time before it would have to go. Depositors will be paid in full and stockholders will get possibly 35 cents on the dollar. The capital stock is $600,000. J. T. Moore is president. Bankers regard the failure as an excellent one, as creditors were getting ready to bring attachments.

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A Louisville Cashier Takes Flight

LOUISVILLE, Ky., August 29.-Major William Tillman, cashier of the Falls City Bank, which recently collapsed in this city, has fled to Canada. The news line caused a sensation both in financial and social circles. the fugitive being a prominent figure in both. His flight was prompted by the investigation which is being made into the affairs of the suspended bank, the disclosures being exceedingly damaging.

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A Cashier Skips

LOUISVILLE, Ky., Aug. 29.-Major William Tillman, cashier of the Falls City bank which recently collapsed in this city, has fled to Canada. The news has caused a sensation both in financial and social circles, the fugitive being a prominent figure in both societies. His flight was prompted by an investigation which is being made into the affairs of the suspended bank. The disclosures are exceedingly damaging.

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THE LATEST NEWS.

GENERAL NOTES.

GERMANY, it is said, will remove all restrictions on American pork. THE assessed valuation of South Dakota is $228,318,160. THE John Thompson grocery company, of Denver, has failed for $50,000.

VENEZUELA has not rejected reciprocity with the United States, as reported. A PHILADELPHIA woman went mad through brooding over a clairvoyant's predictions. THE monuments erected at Gettysburg in memory of the Illinois soldiers, were unveiled Wednesday. THE Knickerbocker grain a stock exchange company, of Albany N. Y., has suspended. THE last Saturday's statement of the New York banks show a decrease in reserves of 1,233,000. CHICAGO is to have an Odd Fellows temple thirty-four stories high-as high as the Washington monument.

EX SENATOR TAYLOR has sold the Poorman mine at Caribou, Colo., to Leonard Gow of Glasgow for $850,000.

THE central market company, of Chicago, assined Thursday morning, William P. Williams being appointed receiver. Its liabilities are $160,000. MAIL is sent from Japan to England in less than twenty one days crossing the Pacific and Atlantic oceans and the North American continent. NEARLY all of the short line trains between St. Paul and Minneapolis are to be withdrawn by the Great Northern and Milwaukee roads. THE American steamer George W. Starr has been seized by a government revenue cutter for smuggling Chinese into this country. CABINET makers in Chicago, numbering 2,000, struck Tuesday for an eight hour day. The employers say this is the dull season and they can well afford to keep the shops idle for a time. TILLMAN, late cashier of the defunct Falls City bank at Louisville, has reached Canada. He denies that there is a shortage in his accounts.

REV. J. W. OLMSTEAD, editor of The Watchman, a Boston Baptist denominational paper, died at Manchester-by-the-Sea Monday morning. THE new submarine cable line, which for the first time provides direct telegraphic communication with Brazil, is now open.

CENSUS Commissioner Porter announces as a final report, that the United States has a population of 62,622,250.

MINISTER EGAN's dispatch announcing the success of the Chilian congressionalists has been received at the state department. The delay in receiving the dispatch was caused by interruption in the telegraphing service.

SECRETARY PROCTOR has written his reply to Governor Page's tender of the position of senator from Vermont to succeed Senator Edmunds. He will probably send it early next week or carry the letter in person when he goes north.

THE efforts of Melbourne to produce rain at Cheyenne, Wyo., were successful. A half inch of rain fell Tuesday, when, according to the government signal service observer, there had been no premonitions of a storm.

TWENTY ONE new claimants to Mrs. Hopkins-Searles' estate have appeared, and Edward F. Searles will not now be allowed to enjoy the millions without a hard struggle.

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Clothing House Closed

LOUISVILLE, Oct. 7.-Jacob Kuhn's wholesale jeans clothing establishment assigned today. Liabilities $40,000, assets nominally the same. The failure of the Falls City bank forced payment of his debts.