Spokane National Bank (Spokane, WA)

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SPOKANE BANK CLOSED

The Spokane National and Its Three Branches Suspended. SPOKANE FALLS, Dec. 17.-[Special.]The Spokane National bank, one of the largest banks in the city, closed its doors this morning. Its immediate liabilities are estimated at $300,000. W. Hussey, the cashier, claims the assets will exceed the liabilities by $150,000. The suspension was precipitated by the failure of three branches in the Coeur d'Alene mining district, viz.: Bank of Wallace, Bank of Wardner, and Bank of Murrav. The bank has been known to be in financial straits for the past year, but heretofore it has been assisted by other banks. The bank was formerly a United States depository, but the government withdrew its deposits about two weeks ago.

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THE SPOKANE BANK SUSPENDS

One of the Largest Institutions in the West Closes Its Doors. (By telegraph to the Dispatch.] SPOKANE FALLS, WASH., December 17.-The doors of the Spokane National Bank, one of the largest institutions in the city, were not opened this morning. For about a year it has been known among bankers that this bank was in financial straits, and more than once other banks have helped it out. The collapse was precipitated by the failing of three branches in the Cour d'Alene mining district-namely the Bank of Wallace, the Bank of Wardner, and the Bank of Murray. It is said to have been brought about by failure to realize on securities held by the bank for advances made for the development of various mining properties. The bank was a United States depository, but the Government withdrew its deposits about two week ago,

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Failure at Spokane

SPOKANE FALLS, Wash., Dec. 17.The Spokane National bank, one of the largest banks in the city, closed its doors this morning. Its immediate liabilities are estimated at $300,000. W. Hussey, the cashier, claims that the assets will exceed the liabilities by $140,000. The suspension was precipitated by the failure of three branches in the Couer d'Alene mining district, viz: the Bank of Wallace, Bank of Wardner and the Bank of Murray. The bank was known to have been in financial straits for the past year, but heretofore had been assisted by other banks. The bank was formally a United States depository, but the government withdrew its deposits about two weeks ago.

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THE SPOKANE NATIONAL BANK

SPOKANE FALLS, Dec. 17.-The Spokane National Bank, one of the largest banks in the city, closed its doors this morning. The immediate liabilities areestimated at $300,000. W. H. Hussey, cashier. claims the assets will exceed the liabilities by $150,000. The suspension was precipitated by the failure of branches in the Coeur d'Alene mining district, viz., the bank of Wallace, the bank of Wardner and the bank of Murray. The bank is known to have been in ffnancial straits for the past year, but heretofore had been assisted by other banks. The bank was the United States depository, but the government withdrew its deposits about two weeks ago.

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A SPOKANE BANK SUSPENSION

The Failure of Branches in Mining Districts Drags It Down. SPOKANE FALLS, Wash., Dec. 17.-The doors of the Spokane National Bank, one of the largest institutions in the city, were not opened this morning. For nearly a year it has been known among bankers that this bank was in financial straits, and more than once other banks have helped it out. The difficulty was precipitated by the failure of three branches in the Ceour d'Alene mining district, said to have been brought about by a failure to realize on securities held by the bank for advances made for the development of various mining properties.

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OTHER BANKS SOLID A Streement Made by Mr. Warren Hussey. IT IS THE TALK OF THE TOWN How the News Was Received by the Depositors Incidents of the Day. Early yesterday morning, before the hour when laborers and mechanics begin their daily toil, a crowd of blue. shirted knights of the tin-bucket brigade collected at the corner of Howard street and Riverside avenue, in front of the Spokane National bank. Some of the men decided to lose a day's work to assure themselves that all was well with their deposits. A faint spark of hope that the doors would open and the whole thing prove a horrible dream glowed in the breast of the populace that collected there. Nine clock came. The curtains were not lowered, nor the doors opened. The erowd dispersed. At 9:30 o'clock Perry Griffin, the city possenger agent of the Union Pacific railway, dashed down Riverside avenue to his office. He had just arisen and read the news in the REVIEW while he ate the frugal breakfast of a railroad official. He seized his hat and left the restaurant without paying his bill, so great was his haste to know the worst. He looked over his books in feverish haste. When he had finished, a smile overspread his face. The Union Pacific railway was saved. Only 83 cents of the company's money was in the financial cataclysm. The remainder had been drawn out a day before. The passenger agent returned to his unfinished meal, and ate an additional bowl of mush with a relish. When Judge M. T. Hartson heard the news, he smiled complacently. When his friends met him and told him of their losses, he condoled with them. The temptation to crow over his less fortunate fellow-men was strong. He smiled broadly as he turned the combination of his safe and opened his books. An awful change was wrought in his features. The happy, gay, debonair smile vanished, and in its place there was a wan, pinched face that looked as though it had aged ten years in a single second. A piece of paper fluttered to the floor, and told the story. It was an overlooked deposit check for $150. Such were the experiences of a day. There were many anxious faces but all was quiet on the Potomac. During the forenoon the steps leading to the closed doors were covered by an expectant throng of depositors and curious idlers. It hung around the deserted building like a dark cloud over a waterspout, as though the people expected that some miraculous power might swing open the carved doors, unlock the time lock on the great vaults, and enable them to march in and draw their own deposits. The crowd was as orderly as if it were attending a funeral, as it really was in one sense of the word, but a good deal of good natured badinage passed among the victims, who were evidently determined to make the best of a bad,bargain. But no beneficent genii came to open the doors and fill the vaults with gold and silver, and even if the throng had been turned loose in the money drawers they would not have been much better for the privilege. The sufferers got pienty of cold comfort. Any number of men were around who "knew all about the shaky condition of this bank months ago," and who, had they only known that their friends

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estimated at $100,000, and assets of $50,000 $60,000. Owen Brothers, agents of the Atlantic Mills, Providence, R. I, have made an assignment to Charles H. Merriman. The liabilities are large, but the muls will contin ue running as usual. The doors of the Spokane National Bank, Spokane Falls, Wash., were closed Wednesday.

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The Spokane National Bank of Spokane Falls, Wash., has suspended, owing to the failure of several branches. Tuesday afternoon Gov. Steele returned the Kingfisher, O.T., capitol bill to both houses of the legislature with a communication setting forth his objections to it. The legislature refused to change the bill.

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THE BROKEN SPOKANE BANK

Government Had $21,000 on DepositPetitions For a Receiver. WASHINGTON CITY, Dec. 19.-[Special.]Several requests have been received from Spokane Falls for a receiver for the Spokane National band. Comptroller Lacy says he will not appoint any one until after a full investigation. all He said he would appoint no one who is in any way interested in the affairs of the bank, and probably no resident of Spokane Falls. In the Spokane National bank at Spokane Falls, recently suspended, the government had something over $21,000 on deposit. Of this, $14,000 was credited to the Indian land office fund.

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Bank Failure at Spokane Falls

SPOKANE FALLS, Dec. 17.-The doors of the Spokane National bank, one of the largest institutions of the city were not opened this morning. For nearly a year it has been known among bankers the bank was in financial straits, and more than once other banks have helped it out. They did 80 this time, but finally decided the bank would have to suspend.

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THE BROKEN BANK

A Receiver Will Not be Appointed for Some Time. [Special Service of the REVIEW'S Washing. ton Press Bureau.| WASHINGTON, Dec. 19.-Several appli. cations have been made that a receiver be appointed for the Spokane National bank. Comptroller Lacy said to-day that he would not make an appointment for two weeks at least. He proposes to make a full investigation of the affairs of the bank to ascertain as to its solvency. He said he would appoint no man who had in any way been connected with the bank or who had an interest in its affairs. He did not think he would appoint any citizen of Spokane.

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A Noble Sacrifice

Spokane Falls Globe. When the Spokane National bank suspended the sympathy of all this community went out spontaneously toward Mr. W. H. Taylor. He was only a small stockholder in the bank, and had little or DO voice in its management. But the bank's susppnsion to him was an irreparable calamity, owing to his identification with the institution. He had been president of the Board of Trade. He had vigorously and_intelligently fostered and encouraged every legitimate

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BAD FOR THE BANKS

Several Stand Long and Heavy Runs, but Some Are Not Strong Enough. OMAHA, Jan. 22.-The run on the South Omaha branch of the Nebraska Savings bank was continued this morning, but as depositors were paid in full confidence was restored and the run ceased. KANSAS CITY, Jan. 22.-The run on the Kansas City Deposit and Savings bank ceased this morning. Since Monday it has paid out $150,000, and $900,000. was prepared to pay the full amount of deposits, The Central bank was absorbed today by the Merchants' National bank, which will pay all claims. The Central bank went out of business because the profit was too small to pay adequate interest on the capital. WASHINGTON CITY, Jan. 22.-[Special.]-It is expected that Comptroller Lacey will appoint a receiver for the Spokane National bank to-morrow. MEDICINE LODGE, Kan., Jan. 22.-The First National bank was placed in the hands of the government examiner today. There has been a run on the bank for the past four days, but the principal cause of the suspension was a quarrel among the stockholders. The assets are $82,000, and the liabilities $50,000. Stanford, Yuman & Eldred, general merchandise, were taken possession of today by the sheriff. Their liabilities are $75,000 and their assets about the same.

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Cannot Understand the Delay

SPOKANE FALLS, Jan. 28.-[Special.]-Creditors of the defunct Spokane National bank are unable to understand the long dolay in the appointment of a receiver. The time within which R receiver should have been appointed expired yesterday and creditors will meet to-morrow and instruct their attorneys to proceed through the United States court to have a receiver appointed immediately.

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Receiver of Spokane's Broken Bank

WASHINGTON CITY, Jan. 28.-[Special.]Herman L. Chase, of Tacoma, was today appointed by Comptroller Lacey to be rereiver of the Spokane National bank, of Spokane. Mr. Lacey was urged strongly to appoint a resident of Spokane, but refused to do so, as the rule in such cases is that the receiver shall not live in the city where the bank is located. ATCHISON, Kan., Jan. 28.-The State National bank of this city closed its doors this morning, and will go into voluntary liquidation. The bank has a capital stock of $250,000.

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RECEIVER APPOINTED

-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.

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RECEIVER APPOINTED

-The controller of the currency has appointed Herman L. Chase of Tacoma, Wash., receiver of the Spokane National Bank of Spokane Falls, Wash.

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Will Settle up the Business

SPOKANE FALLS, Feb. 16.-H. L. Chase, recent appointed receiver of the Spokane National Bank, has arrived in this city from Tacoma. He will at once enter on his duties and settle up the business of the bank.

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Spokane National Bank Litigation

PORTLAND, Aug. 10,-[Special.]-A case out of the usual style now before Judge Deady in the United States circuit court here, is that of H. L. Chase, receiver of the Spokane National bank, against the Merchants' National bank, of this city. The firm at Spokane drew a draft for $6,000 on a Seattle merchant in favor of another Spokane firm. The latter firm sent the draft to the Spokane National to be forwarded to Seattle for collection. This was done, and the Seattle bank secured its acceptance. A few days afterwards the Spokane National ordered that the acceptance be sent to the Merchants' National bank here, which was done. The Spokane bank owed the Merchants' bank about $13,000 and on the 15th of last December the latter pressed the former to make good its overdraft, and the Spokane bank charged up to the Merchants' bank the $6,000 acceptance. The Merchants' let the matter run and on December 17 the Spokane bank failed. In January the money was paid and now Receiver Hall claims that the creditors of the bank are entitled to the $6,000, while the Merchants' bank claims it is entitled to apply the money on the debt of the Spokane bank.

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Suspended Bank Dividend

SPOKANE (Wash.), Oct. 22 -In accordance with the decision of the Comptroller of the Treasury in declaring a dividend of 15 per cent in favor of the creditors of the Spokane National Bank, which failed about one year ago, Receiver Chase has begun the payment of checks. The amount to be paid out by this dividend is $42,588.