First National Bank (Bellingham, WA)

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Suspension Does Not Trouble These Depositors, SEATTLE, Wash., June 23.-A special from New Whateom, Wash., says that the First National Bank closed its doors yesterday. Inability to realize on its se. curities is the cause given for suspension. The bank's officials state that their assets are double their liabilities and that depositors will be paid in full. The bank examiner will be here in a few days. Depositors feel confident that they will receive 100 cents on the dollar. There is no excitement and the suspension did not precipitate runs on the other banks.

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National Bank Closes The First National Bank of Whatcom closed its doors to the public yesterday at 12 o'clock. Two or three weeks ago there was an incipient run on the bank, but it did not amount to much, and the directors thought they would be able to weather the severe financial storm through which the country is passing, but circumstances beyond their control rendered them unable to do 80. Suspension for a time at least was their only alternative and as already stated, yesterday a notice to that effect was placed upon the bank's doors. There was no excitement whatever about town, there being a confident feeling among the bank's depositors that there would be no loss, and few troubled themselves even to go to the bank and make inquiries. Cashier Atkins, when seen by a HERALD reporter, had nothing to say except that every depositor would be paid in full. The assets of the bank were more than ample to meet all liabilities, which were only about $50,000, while the securities held by the bank were more than double that sum. It might, under existing circonstances, take some time to realize on these, but of the ultimate payment of every dollar, there was absolutely no doubt. County Treasurer Rogers had on deposit a few thousand dollars, but this al-o secured by county warrants and other good collateral.

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THE PANIC UP NORTH

Oldest Bank in New Whatcom Shuts Its Doors. NEW WHATCOM, Wash., June 22.-The First National Bank, the oldest in the city, closed its doors to-day at noon. Cashier Atkins states that depositors will be paid in full. No statement has yet been sent out of assets and liabilities.

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Other Bank Suspensions

WASHINGTON, NJune 23.-Controller Eckels has been officially informed of the fallure, yesterday, of the following national banks: The First National Bank of Kendallville, Ind.; the First National Bank of Santa Ana. Cal.; the First National Bank of Whatcom, Wash. He has ordered Bank Examiner Cleary to take charge of the Whatcomb Bank, and Bank Examiner Packard to take charge of the Kendallville bank temporarily. He has appointed Robert Wingate receiver of the Merchants' National Bank of Tacoma, Wash. NIAGARA FALLS, N. Y., June 23.-The Cataract Bank, of this city. the largest bank in Niagara county. closed its doors at noon. Its deposits amount to over $700,000. Cashier Rankin says the assets are far in excess of liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted atother banks they were refused. President Porter is confident-that the bank will resume. He does not think a receiver will be necessary. NEW WHATCOM. Wash., June 23.-The First National Bank has closed its doors. The cashier states that depositors will be paid in full.

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THE DAILY LIST

Banks and Business Houses Forced to Suspend-New York Troubles. NEW YORK, June 23.-Sheridan and Byrne, builders, are financially embarrassed. Their liabilities exceed $225,000. Abraham Steers, one of the largest lumber merchants and planing mill men in the city is temporarily embarrassed. being unable to get further accommodations. His creditors today granted an extension. His liabilities are $380,000, assets $475,000. Its Doors Still Closed. SAN FRANCISCO, June 23.-The Pacific National bank did not reopen its doors today. The deposits amount to about $1,500,000. Its loans and discounts are said to be $2,500,000. The embarrassment appears to be entirely due to the recent monetary troubles, and it is expected the depositors will lose nothing. The officers of the bank say they will resume in a short time. It may be that the closing down of the Pacific bank will result in the suspension of the People's Home Savings bank, a collateral institution, under practically the same management. Its total deposits are about $1,700,000. There is no apprehension as to runs on other banks. Cataract Bank Fails. NIAGARA FALLS, June 23.-The Cataract bank of this city the largest bank in Niagara county, closed its doors at noon. There is great excitement among the business men in consequence as over $700,000 of their money was on deposit there. Resources More Than the Liabilities. SAN FRANCISCO, Cal., June 23.-The People's Home Savings bank closed its doors this morning. It affiliated with the Pacific bank which closed its doors yesterday. The resources are said to exceed the liabilities. Depositors Forced the Suspension. MINNEAPOLIS, Minn., June 23.-The state bank of this city suspended payment this morning. Assurance is given that it will resume in a few days. The bank has a paid up capital of $75,000. Steady withdrawals by depositors were the cause of the action. A Week's Disasters. NEW YORK, June 23.-Bradstreet's reports 360 failures in the United States this week, against 159 for the week a year ago. Stood the Run for Five Days. SAN BERNARDO, Cal., June 23.-The First National Bank closed its doors today, after undergoing a run for the past five days. ) Banks Reported as Failed. WASHINGTON, June 23.-Controller Eckels has been officially informed of the failure yesterday of the following national banks: The First national bank of Kendallville, Ind.: the First national bank of Santal Ana, Cal., and the First national bank of Whatcom, Wash.

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Other Bank Failures, MINNEAPOLIS, June 23.-The State Bank of this city suspended payment this morning. the assurance being given to depositors that it would resume in a few days. The bank has a paid-up capital of $75,000. Steady withdrawals by depositors were the cause of the action. The bank is one of the smaller ones of the city. SEATTLE, June 23.-A special from New Whatcom. Wash.. says the First National Bank closed its doors at noon yesterday. Inability to realize on its securities is the cause given for suspension. The bank's officials state that their assets are double their liabilities. and that depositors will be paid in full. GREENVILLE. Mich., June 23.-The failure of the City National Bank. which suspended payment yesterday, was due to a steady run on the bank. which has continued since June 1. The examination up to this time shows deposits of $210,000 and assets of $312,000. It is not known yet whether the bank will be able to resume or will be compelled to go into a receiver's hands. The bank was examined on Sept. 28. 1892. and reported in good condition. INDIANAPOLIS, June 23.-The First National Bank of Kendallville suspended payment today.

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CAUGHT IN THE FLURRY

Three Banks Fail at New What. com, Wash.-Other Failures. NEW WHATCOM, Wash., June 23.The First National bank closed its doors yesterday. Inability to realize on its securities is the cause given for sus pension. The bank officials state that the ir assets are double their liabilitiesand that depositors will be paid in full. The Columbia also closed its doors today. NIAGARA FALLS, N. Y., June 23.The Cataract bank. of this city. the largest bank in Niagara county, closed its doors at noon. There is great excitement among business men in consequence, as over $700,000 of their money was on deposit there. The suspension was totally unexpected, and was not preceded by a run on the bank. Cashier Delaney says that the assets will be far in excess of the liabilities. CHICAGO, June 23-Friedman & Friedman, wholesale clothing dealers, confessed judgment today for sums aggregating $67,300. The total liabilities of the concern are about $92,000. The assets are about the same. The failure is attributed to the stringency of the money market. WASHINGTON. June 23.-Comptroller Eckels today appointed Robert Wingate receiver of the Merchants' National bank of Tacoma, Wash. CINCINNATI, June 23.-W. Coflin & Son. owners of the Cincinnati Dry Dock company. assigned today to V. D. Collins and H. D. Peck. Assets and liabilities estimated at $50,000 each. The failure was hastened by the assignment of the Crane Lumber company, for which this firm had indorsed. KEARNEY, Neb., June 23. - The Kearney Paper Mill company assignéd this morning.

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in full, Monday morning. More than half a million dollars in deposits, which has been locked up for several weeks, will be disbursed. The company is enabled to make a settlement by the sale of its magnificent five-story fire-proof building, which was purchased by Venable Bros. at a sacrifice sale for $160,000 cash. This, ith the money in the hands of the recelver, will allow the bank to pay dollar for dollar. Bank of Sumier Suspends. ATLANTA, June 24. -The Bank of Sumter, at Americus, declined to receive deposits or pay checks to-day. Its correspondent Its New York, it is alleged, refused to extend the usual time loans after promising as it is claimed, to do so. The Sumter Bank, had, it is said, made loans on the strength of its correspondent's pirmise. The bank expects to reopen in few days. Deposits are $50,000, $17,000 on time certificates. There is no excitême) over the action of the bank. Wrecked by a Member of the Firm. ELWOOD IND., June 24.-The Alexandria Investment Company has been wrecked by Fran's P. Scearce, Lexington, Ky. He has forged papers obtaining over $50,000 in that way alone. His partner, J. P. Lauck, also from Lexington, Ky., is a loser to all extent of nearly $60,000 by the misdeeds of his partner, who leaves him penniless. The affairs of the. Alexandria concern have been assigned to L. B. Jackson and Anderson Scearce was arrested. More Western Bank Feilures. NEW WHATCOM WASH., June 24.The Columbia an First National banks closed their doors yesterday, The cashier of the latter says the assets are $428,000, and the liabilities 10,000. Other Birth ness Failures. NEW ORLEANE, LA., June 24.-The Plaquemine Shinat and Lumber Company failed yesterdly for a large sun. The assets and >liabilities are not given, but it is claimed creditors will be paid in full.

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LATER NEWS WAIFS

FINANCIAL AND COMMERCIAL Comptroller Eckels has been officially in formed of the failure of the following National banks: The first National Bank of Kendallville, Ind.; the First National Bank of Santa Anna. Cal.; and the First National Bank of Whatcom, Wash. He has ordered Bank Examiner Packard to take charge of of the Kendal'sville bank. At San Francisco the Pacific bank has closed. The Peoples Home Saving bank, under the same management, has also,gone down. At Greenville, Mich., the City National bank has suspended. The Cataract bank, Niagara Falls, N. Y.. the largest bank in Niagara county, closed its doors. The New York clearing-house committee authorized the taking out onFriday of $450,000 in clearing-house certificates. The total now outstanding is $5,350,000. The East Side bank, Los Angeles, Cal., opened its doors again on Saturday morning. This is the first of closed banks to resume. A feeling of confidence has returned. The other banks will open in a day or two except the City bank, which is in the hands of a receiver.

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Bank Receiver Appointed United States Bank Examiner Charles Clary, who has been examining into the condition of the First National and Columbia National banks of Whatcom, yesterday received a telegram stating that George B. Blanchard, of Tacoma, had been appointed receiver for the banks. Mr. Blanchard is expected to arrive this morning and enter upon his duties. "It is probable," said a stockholder yesterday, "that the First National will resume business within a few days."

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LOCAL AND PERSONAL T, W. Gillette has returned from a short trip to Seattle. Mrs. F. C. Thomas and daughter are visiting East Sound. L. H. Baldy went over to Olga on the Dispatch yesterday morning. V. S. Pruner, wife and family went over to Friday Harbor yesterday. Forty passengers left on the Dispatch yesterday morning for Orcas island. Mr. and Mrs. T. A. Creighton are spending a few days at East Sound. Superintendent Copeland, of the Great Northern coast lines, came down from New Westminster last night. The Rose berry fete given by the ladies of the Presbyterian church last night was well attended and proved a most enjoyable affair. An excellent musical and literary program was rendered. Geo. B. Blanchard, the newly appointed receiver for the First National and Columbia National banks of Whatcom, arrived from Tacoma last night and is registered at The Fairhaven. A. L. McCoy, of the well-known rail) road contracting firm of McCoy & O' Brien, is in the city. Mr. McCoy recently came down from the Kootenai country, where he has a contract on the Nelson & Fort Sheppard railroad. The "Sideboard," corner of Eleventh and Harris, has just received a large stock of California and imported wines and brandies. Something nice for either table use or sick room. They are also adding draught beer for the summer trade. A young lad named Thornwalt, who lives with his parents in Gise's addition, is accused of entering houses in that locality during the owners' absence and appropriating anything that took his faney, besides turning the household goods topsy turvy. Recently he entered Mr. Austin's house and took, among other things, a razor, which he afterwards returned. It is proposed to have the boy sent to the reform school.

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BANKS SHORT OF CASH The Siringency on the Pacific Coast Be ing Felt With Full Force. SAN FRANCISCO, Cal., June 26.-The People's Home Savings Bank failed to open its doors yerterday morning. On the door was the following notice: Bank closed temporarily in order to protect depositors and give them time to collect on securities We have sufficient assests. more than our liabilities." Columbus Waterhouse deeded all his property to the People's Home Bank. that they might raise money on it to tide them over the crisis This property is far in excess of all liabilities of the bank. Failure to realize on securities immediately is the cause of the suspension. The directors of the bank have ordered the regular dividend to be paid July 1. The stock dividend will be withheld. SAN BARNARDINO. Cal.. June 24. The First National Bank closed its doors yesterday morning. This notice was posted on the door: "Owing to the stringency of the money market and the unusual withdrawal of deposits during the last five days this bank is forced to close its doors temporarily.' SEATTLE. Wash.. June -The Columbia National Bank of New Whatcom suspended yesterday. NIAGARA FALLS, V. Y., June :4.The Cataract Bank of this city, the largest bank in Niagara county, closed itsdoors yesterday. There is great excitement among business men in consequence. as over $800,000 of their money was on deposit The suspension was totally unexpected and was not preceded by a run on the bank. The bank officers confidently expected to receive help from out of town vister day morning, but the money dil not come. Cashier Rankin says that the assets will be far in excess of the liabilities. The bank people claim to have plenty of securities, but when they tried to get them rediscounted at other banks they were refused. President Porter IS confident the bank will resume and he does not think a receiver will be necessary. WASHINGTON. June ":4.-Comptroller Fekels has been officially informed of the failure of the following national banks: The First National Bank " Kendallville, ind., the First National Bank of Santa Ana. Cal.. the First National Bank of Whateom. Wash He has ordered Bank Examiner Cleary to take charge of the Whateom bank and Bank Examiner Packard to take charge of the Kendallville bank temporarily. CINCINNATI, Ohio. June :4.-Samuel W. Coflin & Son. owners of th Cincin nati Dry Docks Company, assigned yesterday to Val P. Collins and H. D. Peck. Assets and liabilities are esti mated at $50,000 each.

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Debtors of Suspended Banks Sued

George B. Blanchard, who was appointed receiver of the Columbia National and First National banks of Whatcom by Comptroller Eckels on June 27, began suit in the United States court yesterday against twenty-two debtors of the insolvent institutions for the collection of $18,$11.50 in promissory notes. The debtors of the Columbia National bank are: Michael Anderson, $600; Francis D. and E C. Graves, $400; N. C. Hadley, F. N. Barney and W. L. Miller, $500: Kildall Bros., $78.62; W. L. Miller, $132.21; E. T. Vernon, $150; Samuel Wadell, $1,450; J. F. Wardner, $3,000; Charles D. Winkler and W. H. Eddy, $1,000. Those of the First National bank are: W. 8. Anderson, $472: W. L. Miller, $738; W. L. Ellis, Alex M. Sneath and E. Griffin, $300; D. C. Jenkins, $2,000; J. R. Jenkins, $176; Mamie $9,810. E. Jenkins, $760; W. D. Jenkins,

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The Osceoia Libeled at Fairhaven

FAIRHAVEN, Sept. 28.-[Special.]- The bark Osceola, Capt.Langdon, which finished loading a cargo of lumber today at the Fairhaven Lumber Company's mill for Chile, was libeled this afternoon by the receiver of the First National bank, of Whatcom, to secure payment for a bill of $150 for groceries furnished the captain's family by Kildall Bros., of Whatcom, who assigned to the bank priortoitssuspension

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MORE WARRANTS FOR ATKINS

The Whatcom Bank Cashier Gives More Bond-Wants Full Investigation, Cashier C. M. Atkins, of the suspended First National Bank of Whateom, who was arrested on Friday at Whatcom on charges of embezzlement made by J. K. Rae, appeared yesterday before Commismoner Spriggs, who issued the warrant for preliminary examination. An attorney who was interested was not able to be present and the hearing was continued to next Tuesday morning at the request of Atkins' attorneys. Atkins was arrested upon only one of the seven warrants sworn out, and he had been bound over in the sum of $1,000 by Commissioner Williams, of Whatcom, to appear before Spriggs yesterday. Upon his appearance the other six warrants were served, and when the case was continued he put up $2,500 additional bond for his release. The principal witbesses for the United States, who had accompanied Atkins from Whatcom, gave their personal recognizances before leaving. It is said that Atkins will make an effort to obtain a complete vindication of his conduct from Commissioner Spriggs, and that the charges will be investigated to the fullest extent at the preliminary examination. His friends denounce the arrest as spitework. Commissioner Spriggs explains that the reason Atkins will not have a preliminary examination before Commissioner Willlams, of Whatcom, a fact causing a good deal of unpleasant comment among Atkins' friends, was that the latter is a strong friend of Atkins', and did not deare to hear the case.

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A Whatcom Bank's Hope of Resumption. WHATCOM, Nov. 23.-[Special.,)-Cashier Atkins, of the suspended First National bank, says it will be known December 6 whether the bank will resume. Aid is hoped for from Jacob Furth and Sigmund Schwabacher, of Seattle, two of the largest stockholders.

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Hearing of Cashier Atkins

In the case of C. M. Atkins, late cashier of the defunct First National bank of Whateom, charged with misapplying deposits, the only witness examined before Commissioner Spriggs yesterday was George B. Blanchard, receiver of the bank. His cross-examination was not concluded lest evening. and court was adjourned Until 9 o'clock tomorrow morning.

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THE BLOTTER

UNITED STATES CIRCUIT COURT-HANFORD. J. Edna M. Carver V8. Northern Pacific railroad-On trial. Commercial National bank, of Tacoma, vs. George B. Blanchard, receiver of First National bank, of Whatcom-On trial. SUPERIOR COURT - EQUITY DEPARTMENT LANGLEY, J. H. W. Higgins vs. Louis HagstromFindings of fact and conclusions of law; filed. Roy & Co. VA. William L. Eldred-Order dismissing stipulation. George M. Weigel et al. vs. Fire and Marine Insurance Company-Order fixing amount of appeal bond. Nellie Wilson vs. H. F. Phillips et al.Default and judgment: signed. O. P. Askam vs. C. C. Colman-Judgment for plaintiff; foreclosure of lien. Caroline Scherff vs. Herman ScherffOrder dismissing receiver. CIVIL DEPARTMENT-OSBORN, J. In matter of the application of city of Seattle for writ of certiorari-Order granting writ, C. E. Marben V8. Wing & RochesterJudgment against defendant Wing in sum of $350; case of defendant Rochester continued. In the matter of the application of Sunny Lucky-Motion granted and hearing set for January 13. Nellie M. Scurry et al. vs. W. M. Jones et al.-Perpetual injunction against Jones. W. C. Henderson vs. Aurora BlodgettMotion for default; entered. PROBATE DEPARTMENT-LANGLEY. 1. Estate of Sarah E. Swank-Order approving final account and decree. Guardianship of Everett P. Swank, et al. -Order appointing W. W. Swank guardian. Estate of John H. Pearson-Nomination of guardian of minor.

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George B

Blanchard, receiver of the First National Bank of Whatcom, is in the city.

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The W hateom Hank Troubles

WHATCOM, May 23-[Special.]-Receiver Blanchard, of the Columbia National bank, returned from Seattle this morning. With reference to comments and reflec tions upon his management of the bank's affairs and the statements made at meetings of depositors, he says he is unable to express himself as freely as he would be glad to do, because of the instructions governing him. He suggests that if the depositors and others interested desire he will name three disinterested gentlemen of high standing in the community, who shall be acceptable to the people interested, to whom, if the comptroller permits, he will make a complete showing of the bank's affairs and let the question of approval or condemnation of his actions as receiver rest with them. The suggestion is regarded as a very fair one, and will likely be acted upon. Concerning the First National bank, of which he is also receiver, he saya there are more than forty depositors who have not yet called for the dividend of 15 per cent. declared March 17.

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A Whateom Bank Case Appealed

San Francisco, Jan. If-An appeal has been filed in the United States circuit court of appeals in the sult of the Commercial bank of Tacoma VS. George Blanchard, receiver of the First National bank of Whatcom. in which case a decision was recently given against the latter. One of the directors of the Whatcom bank borrowed $10,000 from the Tacoma bank before the former went into insolvency. A demand was made upon the receiver for the money, but he declined to pay on the ground that the money was loaned to the directors personally and not to the bank. It is the decision against the receiver that is appealed from.