4489. Hide & Leather Bank (Chicago, IL)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: December 25, 1897
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: d54e2209

Response Measures

None

Description

Multiple newspapers (Dec 25, 1897–Jan 5, 1898) report the Hide and Leather Bank of Chicago went into voluntary liquidation and its assets were transferred to the Union National Bank. There is no mention of a depositor run or emergency suspension by authorities; the action is described as voluntary liquidation implying permanent closure.

Events (1)

1. December 25, 1897 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank went into voluntary liquidation; assets transferred to the Union National Bank as reported in multiple papers (Dec 25, 1897 onward).
Newspaper Excerpt: The Hide and Leather bank in Chicago went into voluntary liquidation and the assets were transferred to the Union national bank.
Source: newspapers

Newspaper Articles (8)

1. December 25, 1897 The Diamond Drill Crystal Falls, MI

Article from The Diamond Drill, December 25, 1897

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35,565,000 bushels; corn, 38,539,000 bushels; oats, 14,282,000 bushels; rye, 3,645,000 bushels; barley, 4,605,000 bushels. The internal revenue receipts for November amounted to $13,959,296, an increase as compared with November last year of $1,257,927. The makers of book paper in Wisconsin, Michigan, Indiana and Ohio have formed an association to stop the cutting of prices. No appointments will be made by the president during the holiday recess of congress except in case of emergency. The United States supreme court has djourned to the 3d of January. The consolidation of the three great cracker companies of the United States is now an assured fact, its capitalization being $55,000,000. John Osborne, 12 years ola, and Erwin Warren Oelm, 16 years of age, were drowned while skating on thin ice at Buffalo, N. Y. The Christmas money order business of the New York post office this year greatly exceeds that of any previous year. Leading cotton planters met in Memphis and formed an association to mainrain prices. J. A. Hanway, receiver for the defunct National bank of North Dakota. was arrested in Fargo on a charge of being short $10,000 in his accounts. The Golden Rule dry goods store was burned at Danville, III., the loss being $100,000, and Miss Mary Reed, a clerk, perished in the flames. Three schooners of the Gloucester (Mass.) fishing fleet with 49 men were given up as lost. Mrs. August Radke, of Oshkosh, Wis., gave birth to a 19 pound baby, breaking the record for weight in this country. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. Freezing weather has greatly damaged the orange crop in California. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. Fire destroyed the business portion of Doniphan, Mo. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. The Auditorium theater and the Auditorium hotel in Kansas City, Mo., owned by Alexander Fraser, were burned, the loss being $300,000. The Hide and Leather bank in Chicago went into voluntary liquidation and the assets were transferred to the Union national bank. The doors of the First national bank of Pembina, N. D., were closed, with liabilities of $95,000. Leda Charland. 13 years old, George Morin. aged 15, and Frank Waterman, aged 18, were drowned at Gardner, Mars., while skating on thin ice. Three young persons were drowned while skating on a creek at Tonawanda, N.Y. Mrs. Ann Kelly. aged 65 years, and Miss Mary Baird, aged 80 years, died in Plainfield, N. J., from drinking wood alcohol. Engineers J. S. Hodson and L. B. Horton were killed in a railway wreck at Cayuga. Ind. Miss Leila Herbert, aged 30, daughter of ex-Secretary of the Navy Herbert, killed herself while despondent over ill health by jumping from a high window in Washington. Twenty-year-old Peter S. McMahon, crazed by cigarettes, shot and killed himself at Syracuse, N.Y.

2. December 28, 1897 Willmar Tribune Willmar, MN

Article from Willmar Tribune, December 28, 1897

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MINOR NEWS ITEMS. For the Week Ending Dec. 23. Josiah Quincy (dem.) was reclected mayor of Boston. Slight shocks of earthquake were felt at Ashland and Richmond, Va. The United States supreme court has adjourned to the 3d of January. Freezing weather has greatly damaged the crop in California. the French Alphonse orange Daudet, famous novelist, died in Paris, aged 57 years. were Three young persons drowned while skating on a creek at Tonewanda, N.Y. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. The constitutionality of the civil service law was upheld by the Illinois supreme court. The Chinese government has granted Russia permission to winter a squadron at Port Arthur. The United States training ship Alliance has arrived in New York after an extended cruise. In Guatemala six political prisoners accused of aiding the revolutionary party were-shot. By the bursting of a land boom in Australia C. H. James failed in Melbourne for $4,250,000. The Northwestern overland limited train was wrecked at Vail, Ia., and 19 persons were injured. The reciprocity negotiations between the United States and Germany are practically suspended. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. Twenty-year-old Peter S. McMahon, crazed by cigarettes, shot and killed himself at Syracuse, N.Y. In an open letter to the Federation of Labor Secretary of the Treasury Gage defends the gold standard. Burts Scrafford and Charlie Clifford were blown to pieces by an explosion of dynamite at Clearwater, N.Y. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. In a riot during a trial in the courthouse at McArthur, O., Elijah Brown and Teeters were Plyly fatally injured. A number of earthquakes occurred around Smyrna, Asia Minor, and several persons were killed and many injured. The Pennsylvania republican committee has decided to hold the next state convention at Harrisburg, June 2,1898. Mrs. Ann Kelly, aged 65 years, and Miss Mary Baird, aged so years, died in Plainfield, N. J., from drinking wood alcohol. A wreck caused by a runaway freight train at 'Altoona, Pa., resulted in several men being badly injured and 50 cars demolished. The makers of book paper in Wisconsin, Michigan, Indiana and Ohio have formed an association to stop the cutting of prices. Dr. Zertucha, whose cowardly be: trayal of Gen. Maceo resulted in his $ death, has been made mayor of Bejucal, Havana province. The Hide and Leather bank in Chicago went into voluntary liquidation 3 and the assets were transferred to the Union national bank. i The Citizens' bank at Oelwein, Ia., II. C. Sturgis & Co., proprietors, made a voluntary assignment and closed its e doors. Liabilities, $35,000. Charles Doring, cne of the best-known bandmasters in the United States and f organizer of the famous Doring's band, died at his home in Troy, N. Y. Rev. W. M. Brown, originator and president of the True Reformers, a powerful organization among the negroes of the south, died in Washington.

3. December 29, 1897 The Ely Miner Ely, MN

Article from The Ely Miner, December 29, 1897

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THE WEEK'S NEWS Happenings of the Past Seven Days in Brief. ROUND ABOUT THE WORLD Casualties and Fires, Personal and Political Notes, Business Failures and Resumptions, Weather Record. INTELLIGENCE FROM ALL PARTS DOMESTIC. The consolidation of the three great cracker companies of the United States is now an assured fact, its capitalization being $55,000,000. John Osborne, 12 years old, and Erwin Warren Oelm, 16 years of age, were drowned while skating on thin ice at Buffalo, N. Y. The Christmas money order business of the New York post office this year greatly exceeds that of any previous year. J. A. Hanway, receiver for the defunct National bank of North Dakota, was arrested in Fargo on a charge of being short $10,000 in his accounts. The Golden Rule dry goods store was burned at Danville, III., the loss being $100,000, and Miss Mary Reed, a clerk, perished in the flames. Three schooners of the Gloucester (Mass.) fishing fleet with 49 men were given up as lost. Mrs. August Radke, of Oshkosh, Wis., gave birth to a 19 pound baby, breaking the record for weight in this country. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. Freezing weather has greatly damaged the orange crop in California. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. Fire destroyed the business portion of Doniphan, Mo. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. The Auditorium theater and the Auditorium hotel in Kansas City, Mo., owned by Alexander Fraser, were burned, the loss being $300,000. The Hide and Leather bank in Chicago went into voluntary liquidation and the assets were transferred to the Union national bank. The doors of the First national bank of Pembina, N. D., were closed, with liabilities of $95,000. Leda Charland. 13 years old, George Morin, aged 15, and Frank Waterman, aged 18, were drowned at Gardner, Mars., while skating on thin ice. Three young persons were drowned while skating on a creek at Tonawanda, N.Y. Mrs. Ann Kelly, aged 65 years, and Miss Mary Baird, aged 80 years, died in Plainfield, N. J., from drinking wood alcohol. Engineers J. S. Hodson and L. B. Horton were killed in a railway wreck at Cayuga, Ind. Miss Leila Herbert, aged 30, daughter of ex-Secretary of the Navy Herbert, killed herself while despondent over ill health by jumping from a high window in Washington. Twenty-year-old Peter S. McMahon, crazed by cigarettes, shot and killed himself at Syracuse, N. Y. Burts Scrafford and Charlie Clifford were blow to pieces by an explosion of dynamite at Clearwater. N. Y. The United States training ship Alliance has arrived in New York after an extended cruise. Mrs. Barney Picker, aged widow, died in want at Lima, O., and the administrator found over $10,000 in cash and $6,000 in notes secreted in an old bonnet. In Milwaukee Walter C. Sanger broke his own world's indoor bicycle record for half a mile, unpaced, riding the distance in one minute flat. A loss of $150,000 was sustained by a fire which consumed the A. H. Andrews corapany's furniture factory in Chicago. Postmaster-General Gary has decided to order a special issue of stamps commemorative of the holding of the transMississippi exposition at Omaha the coming year. The school board of Iron Mountain, Mich., has forbidden its teachers to attend dances or parties on evenings preceding school days. The reciprocity negotiations between the United States and Germany are practically suspended. A train struck a stage coach at a crossing near Passaic, N. J., and 20 persons were injured. three fatally. Charles E. Stubbs has been sent to this to encour-

4. December 30, 1897 Audubon Republican Audubon, IA

Article from Audubon Republican, December 30, 1897

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A WEEK'S RECORD All the News of the Past Seven Days Condensed. HOME AND FOREIGN ITEMS News of the Industrial Field, Personal and Political Items, Happenings at Home and Abroad. THE NEWS FROM ALL THE WORLD DOMESTIC. A wreck caused by a runaway freight train at Altoona, Pa., resulted in several men being badly injured and 50 cars demolished. Jack McCune, a gambler, who killed William A. Albin August 6, committed suicide in the jail at St. Joseph, Mo. The Travelers' Insurance company has withdrawn all its business from Kansas. The visible supply of grain in the United States on the 20th was: Wheat, 35,565,000 bushels; corn, 38,539,000 bushels; oats, 14,282,000 bushels; rye, 3,645,000 bushels; barley, 4,605,000 bushels. The internal revenue receipts for November amounted to $13,959,296, an increase as compared with November last year of $1,257,927. The makers of book paper in Wisconsin, Michigan, Indiana and Ohio have formed an association to stop the cutting of prices. No appointments will be made by the president during the holiday recess of congress except in case of emergency. The United States supreme court has adjourned to the 3d of January. The consolidation of the three great cracker companies of the United States isnow an assured fact, its capitalization being $55,000,000. John Osborne, 12 years old, and Erwin Warren Oelm, 16 years of age, were drowned while skating on thin ice at Buffalo. N. Y. The Christmas money order business of the New York post office this year greatly exceeds that of any previous year. Leading cotton planters met in Memphis and formed an association to maintain prices. J. A. Hanway, receiver for the defunct National bank of North Dakota. wasarrested in Fargo on a charge of being short $10,000 in his accounts. The Golden Rule dry goods store was burned at Danville, III., the loss being $100,000, and Miss Mary Reed, a clerk, perished in the flames. Three schooners of the Gloucester (Mass.) fishing fleet with 49 men were given up as lost. Mrs. August Radke, of Oshkosh, Wis., gave birth to a 19 pound baby, breaking the record for weight in this country. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. Freezing weather has greatly damaged the orange erop in California. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. Fire destroyed the business portion of Doniphan, Mo. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. The Auditorium theater and the Auditorium hotel in Kansas City, Mo., owned by Alexander Fraser, were burned, the loss being $300,000. The Hide and Leather bank in Chicago went into voluntary liquidation and the assets were transferred to the Union national bank. The doors of the First national bank of Pembina, N. D., were closed, with liabilities of $95,000. Leda Charland, 13 years old, George Morin, aged 15, and Frank Waterman, aged 18, were drowned at Gardner, Mars., while skating on thin ice. Three young persons were drowned while skating on a creek at Tonawanda, N. Y. Mrs. Ann Kelly, aged 65 years, and Miss Mary Baird, aged 80 years, died in Plainfield, N. J., from drinking wood alcohol. Engineers J. S. Hodson and L. B. Horton were killed in a railway wreck at Cayuga, Ind. Miss Leila Herbert, aged 30, daughter of ex-Secretary of the Navy Herbert, killed herself while despondent over ill health by jumping from a high window in Washington. Twenty-year-old Peter S. McMahon, crazed by cigarettes, shot and killed himself at Syracuse, N.Y. Burts Scrafford and Charlie Clifford were blow to pieces by an explosion of dynamite at Clearwater. N. Y. The United States training ship Alliance has arrived in New York after an extended cruise. Mrs. Barney Picker, aged widow, died in want at Lima, O., and the administrator found over $10,000 in cash and $6,000 in notes secreted in an old bonnet. In Milwaukee Walter C. Sanger broke his own world's indoor bicycle record for half a mile, unpaced, riding the dis-

5. January 1, 1898 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, January 1, 1898

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A WEEK'S RECORD All the News of the Past Seven Days Condensed. HOME AND FOREIGN ITEMS News of the Industrial Field, Personal and Political Items, Happenings at Home and Abroad. THE NEWS FROM ALL THE WORLD DOMESTIC. Burts Scrafford and Charlie Clifford were blow to pieces by an explosion of dynamite at Clearwater. N. Y. The United States training ship Alliance has arrived in New York after an extended cruise. Mrs. Barney Picker, aged widow, died in want at Lima, O., and the administrator found over $10,000 in cash and $6,000 in notes secreted in an old bonnet. In Milwaukee Walter C. Sanger broke his own world's indoor bicycle record disfor half mile, unpaced, riding the tance in one minute flat. A loss of $150,000 was sustained by a fire which consumed the A. H. Andrews company's furniture factory in Chicago. Postmaster-General Gary has decided order a special issue of stamps commemorative to of the holding of the trans- the Mississippi exposition at Omaha coming year. The school board of Iron Mountain, Mich., has forbidden its teachers to attend dances or parties on evenings preceding school days. The reciprocity negotiations between the United States and Germany are practically suspended. A train struck a stage coach at a crossing near Passaic, N.J. and 20 persons were injured, three fatally. Charles E. Stubbs has been sent to Europe by this government to encour- in age the use of the American horse the cavalries of Europe. The constitutionality of the civil service law was upheld by the Illinois supreme court. In an open_letter to the Federation of Labor Secretary of the Treasury Gage defends the gold standard. It is announced that President McKinley will send a message to congress a recommending the, establishment of department of commerce and industry. Chadwick Marshall and John McDonald, the alleged murderers of Orville Hayden at Farmington. Wash., were taken from jail by a mob and hanged. W.H. Hughes, A. H. Dolphin, John Bright and Samuel Sevier, hunters from Chicago, were frozen to death near Dawes creek, in Newton county, Ky. In a riot during a trial in the courthouse at McArthur. O., Elijah Brown and Plyly Teeters were fatally injured. At the commencement of 1898 the United States will have 184,464 miles of completed railway. A buggy containing William Pearcy and Miss Brooks, of Farmington, Ind., was struck by a train and the latter was killed and the former fatally hurt. Freight traffic through the United States and Canadian Sault canals for the year 1897 exceeds all previous years by nearly 2,000,000 tons. The visible supply of grain in the United States on the 20th was: Wheat, 35,565,000 bushels; corn, 38,539,000 bushels; oats, 14,282,000 bushels; rye,3,645, 000 bushels; barley, 4,605,000 bushels. The consolidation of the three great cracker companies of the United States is now an assured fact, its capitalization being $55,000,000. Leading cotton planters met in Memphis and formed an association to maintain prices. A report as to the penitentiary scandal in Nebraska discloses irregularities aggregating $537,871.87. The doors of the First national bank of Pembina, N. D., were closed, with liabilities of $95,000. William Gordon Prince, who was the oldest living graduate of Harvard col- 94 lege, died in Dedham, Mass., aged years. Twenty-year-old Peter S. McMahon, killed crazed by cigarettes, shot and himself at Syracuse, N.Y. Three schooners of the Gloucester (Mass.) fishing fleet with 49 men were given up as lost. Mrs. August Radke, of Oshkosh, Wis., birth to a 19 pound baby, breaking gave the record for weight in country. The exportation of raw cotton from the southern states to Japan is practically double what it wnslast season. damFreezing weather has greatly aged the orange crop in California. The Southern Express company's of- of fice at Columbia, S. C., was robbed $10,000. Fire destroyed the business portion of Doniphan, Mo. The Auditorium theater and the Auditorium hotel in Kansas City, were Mo., owned by Alexander Fraser, i burned, the loss being $300,000. The Hide and Leather bank in Chiwent into voluntary liquidation the and cago the assets were transferred to Union national bank. y Leda Charland. 13 years old, George Morin, aged 15, and Frank Waterman, Gardner, aged 18, were drowned at Mars., while skating ou thin ice. Mrs. Ann Kelly. aged 65 years, died and Miss Mary Baird, aged 80 years. in Plainfield, N.J., from drinking wood t alcohol. Samuel Sloan, president of the Delaf Lackawanna & Western railroad, $16,t ware. was presented in New York with a is e 000 Engineers golden service. J. S. Hodson and L.B. Hor- at ton were killed in a railway wreck h Cayuga. Ind. 1, Miss Leila Herbert, aged 30, daughter is of ex-Secretary of the Navy Herbert, ill r killed herself while despondent over

6. January 1, 1898 The L'anse Sentinel L'anse, MI

Article from The L'anse Sentinel, January 1, 1898

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A WEEK'S RECORD All the News of the Past Seven Days Condensed. HOME AND FOREIGN ITEMS News of the Industrial Field, Personal and Political Items, Happening's at Home and Abroad. THE NEWS FROM ALL THE WORLD DOMESTIC Burts Serafford and Charlie Clifford of were blow to pieces by an explosion dynamite at Clearwater. N. Y. The United States training ship Alliance has arrived in New York after an extended cruise. Mrs. Barney Picker, aged widow, died in want at Lima, O., and the administrator found over $10,000 in cash and $6,000 in notes secreted in an old bonnet. In Milwaukee Walter C. Sanger broke his own world's indoor bicycle record for half a mile, unpaced, riding the distance in one minute flat. A loss of $150,000 was sustained by a fire which consumed the A. H. Andrews company's furniture factory in Chicago. Postmaster-General Gary has decided to order a special issue of stamps.com memorative of the holding of thetransMississippi exposition at Omaha the coming year. The school board of Iron Mountain. Mich., has forbidden its teachers to at tend dances or parties on evenings preceding school days. The reciprocity negotiations between the United States and Germany are practically suspended. A train struck a stage coach at a crossing near Passaic, N.J., and 20 persons were injured, three fatally Charles E. Stubbs has been sent to Europe by this government to encourage the use of heAmerican horse in the cavalries of Europe. The constitutionality of the civil service law was upheld by the Illinois supreme court. In an open letter to the Federation of Labor Secretary of the Treasury Gage defends the gold standard. It is announced that President MeKinley will send a message to congress a recommending the establishment of department of commerce and industry. Chadwick Marshall and John McDonndd, the alleged murderers of Orville Hayden at Farmington. Wash.. were taken from jail a mob and hanged. W.II. Hughes. A.II. Dolphin, John W. Bright and Samuel Sevier, hunters from Chicago, were frozen to death near Dawes creek, in Newton county, Ky. In riot during a trial in the courthouse at McArthur. O., Elijah Brown and Plyly Teeters were fatally injured. At the commencement of 1898 the United States will have 184,461 miles of completed railway. A buggy containing William Pearey and Miss Brooks, of Farmington, Ind., was struck by a train and the latter was killed and the former fatally hurt. Freight traffic through the United States and Canadian Sault canals for the year 1897 exceeds all previous years by nearly 2,000,000 tons. The visible supply of grain in the United States on the 20th was: Wheat, 35,565,000 bushels: corn, 38,539,000 bushels: oats, 14,282,000 bushels: rye,3,645, 000 bushels; barley, 4,605,000 bushels. The consolidation of the three great cracker companies of the United States is now an assured fact. its capitalization being $55,000,000. Leading cotton planters met in Memphis and formed an association to maintain prices. A report as to the penitentiary seandal in Nebraska disclose irregularities aggregating $537,871.87. The doors of the First national bank of Pembina, N. D., were closed, with liabilities of $95,000. William Gordon Prince, who was the oldest living graduate of Harvard college, died in Dedham, Mass., aged 94 years. Twenty-year-old Peter S. McMahon. crazed by cigarettes, shot and killed himself at Syracuse, N.Y. Three schooners of the Gloucester (Mass.) fishing fleet with 49 men were given up as lost. Mrs. August Radke, of Oshkosh, Wis.. gave birth to a 19 pound baby, breaking the record for weight in this country. The exportation of raw cotton from the southern states to Japan is practically double what it was last season. Freezing weather has greatly damaged the orange crop in California. The Southern Express company's office at Columbia, S. C., was robbed of $10,000. Fire destroyed the business portion of Doniphan, Mo. The Auditorium theater and the Auditorium hotel ,in Kansas City, Mo., c owned by Alexander Fraser, were burned, the loss being $300,000. r The Hide and Leather bank in Chicago went into voluntary liquidation and the assets were transferred to the e Union national bank. P Leda Charland, 13 years old, George Morin, aged 15, and Frank Waterman, I aged 18, were drowned at Gardner, a Mags., while skating on thin ice. Mrs. Ann Kelly, aged 65 years, and t Miss Mary Baird, aged 80 years, died I in Plainfield, N.J., from drinking wood alcohol. b Samuel Sloan, president of the Delat ware. Lackawanna & Western railroad, f was presented in New York with a $16,n 000 golden service.

7. January 5, 1898 The Herald Los Angeles, CA

Article from The Herald, January 5, 1898

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"Never trust the advice of a man in dif ficulties." Henry Clews, in his financial circular of December 31, says: The year closes with a most gratifying improvement in of as compared with finance, every department industry, the conditions trade and existing at its opening. The recovery does not consist so much in realized profits as in the bettered conditions of and credit and in stocks of goods confidence tion of surplus the and reduc- and the relation between supply in the markets at healthier demand large. without The its year, however, has not been to the accumulated This is very additions the nation. evident wealth from seek- the of amount of idle capital now and the large ing employment prevailing from low the rate of interest, as well as fact that many millions of our floating capital are now finding temporary employment in Europe-astate of things almost new in the history of our foreign financial relations. + The statement of the Farmers and Bank of this city, apcolumn, Merchants' pearsi another makes which the fine very inbest showing yet offered by this stitution. With assets of $5,189,862.89, the bank shows a surplus as to depositors of $1,896,459.07. Its assets include available cash amounting to $2,181,655.71; bonds, etc., $573,781.71; and loans and discounts, $2,291,039.03, besides a comparatively small amount of real estate. The showing is one of which its officers may well be proud. + President Batterson of the Travelers' Insurance company of Hartford has sent word to Superintendent Webb McNall that his company will discontinue business in Kansas, since it will not submit to the demands of the Kansas department. He adds: "We have no confidence in the present management of your department, and prefer to withdraw rather than be supervised by you and visited by your agents. Your power for mischief is so great and your methods in discharging the duties of your office so unusual, that we retire from your state during your term of office without a pang of regret." The controversy between Mr. Patterson and the Kansas department began several months ago, when Mr. Batterson was asked to receive the Kansas examiners, who were to conduct an investigation of his company at the company's expense. He demurred at this, saying that he would gladly furnish any information desired, but that he would not submit to an expensive examination (costing, it was estimated, some $20,000) unless it was undertaken at the department's expense. This refusal led to the litigation before the United States circuit court at Topeka, where affidavits from officials of other companies were produced to show how little they thought of the examinations of the Kansas department. + Notice has been served on the directors of the Pennsylvania Building and Loan association to appear before the attorney general in Harrisburg to show cause why a receiver should not be appointed. Congressman Hicks is president of the association, which is capitalized at $30,000.00. A permanent receivership has been appointed for the Mechanics and Traders' Savings, Loan and Building association of Chicago. The decree orders that the resociation's charter be annulled and the assets and property distributed among the st/Ickholders. The court finds that $300,00€ of the association's assets has been dissipated through mismanagement, and estimates the assets at $458,907. Liabilities are $742,000. The Hide and Leather bank of Chicago has gone into liquidation, its assets being transferred to the Union National bank. + The great English banking firm of Morton, Rose & Co. is hereafter to be known under the name of Morton, Chaplin & Co. + Estimates of January payments of Interest and dividends place the figures at $90,000,000 in New York, $15,000,000 at Boston, and $10,000,000 at Philadelphia. + The stockholders of the Chase National bank have decided to increase the capItal stock from $500,000 to $1,000,000, in accordance with the recommendation of the directors made a few weeks ago. The increase will be made by the absorption of part of the bank's surplus and undivided profits to that amount. The bank will thus begin the new year with a capital of $1,000,000 and a surplus of nearly $1,000,000. + The summary of mortgages recorded during December, 1897, in this county shows the following loans made by banks, building and loan societies and Arivate individuals: No. Amt. 6 $81,394 Los Angeles Savings bank 6 36,200 Security Savings bank 15.000 Main Street Savings bank

8. January 5, 1898 The Herald Los Angeles, CA

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"Never trust the advice of a man in difficulties.' Henry Clews, in his financial circular of December 31, says: The year closes with a most gratifying improvement in every department of industry, trade and finance, as compared with the conditions existing at its opening. The recovery does not consist so much in realized profits as in the bettered conditions of confidence and credit and in the reduction of surplus stocks of goods and the healthier relation between supply and demand in the markets at large. The year, however, has not been without its additions to the accumulated wealth of the nation. This is very evident from the large amount of idle capital now seeking employment and the prevailing low rate of interest, as well as from the fact that many millions of our floating capital are now finding temporary employment in Europe-asta of things almost new in the history of our foreign financial relations. + + The statement of the Farmers and Merchants' Bank of this city, which apbearsinanother column, makes the very best showing yet offered by this fine institution. With assets of $5,189,862.89, the bank shows a surplus as to depositors of $1,896,459.07. Its assets include available cash amounting to $2,181,655.71: bonds, etc., $573,781.71; and loans and discounts, $2,291,039.03, besides a comparatively small amount of real estate. The showing is one of which its officers may well be proud. + + President Batterson of the Travelers' Insurance company of Hartford has sent word to Superintendent Webb McNall that his company will discontinue business in Kansas, since it will not submit to the demands of the Kansas department. He adds: "We have no confidence in the present management of your department, and prefer to withdraw rather than be supervised by you and visited by your agents. Your power for mischief is so great and your methods in discharging the duties of your office so unusual, that we retire from your state during your term of office without a pang of regret." The controversy between Mr. Patterson and the Kansas department began several months ago, when Mr. Batterson was asked to receive the Kansas examiners, who were to conduct an investigation of his company &t the company's expense. He demurred at this, saying that he would gladly furnish any information desired, but that he would not submit to an expensive examination (costing, it was estimated, some $20,000) unless it was undertaken at the department's expense. This refusal led to the litigation before the United States circuit court at Topeka, where affidavits from officials of other companies were produced to show how little they thought of the examinations of the Kansas department. + + Notice has been served on the directors of the Pennsylvania Building and Loan association to appear before the attorney general in Harrisburg to show cause why a receiver should not be appointed. Congressman Hicks is president of the association, which is capitalized at $30,000.000 + A permanent receivership has been apfor the Loan and pointed Savings, Mechanics Building and association Traders' that The decree the charter be the and property among The court assets association's of the Chicago. st/ickholders. distributed annulled orders finds and that $300,000 of the association's assets has been dissipated through mismanagement, and estimates the assets at $458,907. Liabilities are $742,000. + + + The Hide and Leather bank of Chicago has gone into liquidation, its assets being transferred to the Union National bank. + The great English banking firm of Morton, Rose & Co. is hereafter to be known under the name of Morton, Chaplin & Co. + + Estimates of January payments of and dividends place the figures at in New York, at and $10,000,000 at Boston, Interest $90,000,000 Philadelphia. $15,000,000 + The stockholders of the Chase National bank have decided to increase the capItal stock from $500,000 to $1,000,000, in accordance with the recommendation of directors made a few weeks ago. The will be made by of of the bank's to that amount. vided increase the part profits surplus the absorption and The undi- bank will thus begin the new year with a capital of $1,000,000 and a surplus of nearly $1,000,000. + + The summary of mortgages recorded during December, 1897, in this county shows the following loans made by banks, building and loan societies and Arivate individuals: No. Amt. 6 $81,394 Los Angeles Savings bank 6 ........ 36,200 Main Street Security Savings bank