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FAILURE OF A PRIVATE BANK. POOR PEOPLE LOSE THEIR EARNINGS. A DISASTER IN INDIANAPOLIS THAT WAS EXPECTED BY FINANCIERSOTHER ASSIGNMENTS. INDIANAPOLIS, Feb. 1 (Special).-Well-informed financiers have expected for some time the failure which took place to-day of Ritzinger Brothers' bank. It has been known in banking circles that the firm was heavily burdened with depreciated real estate, which was unloaded on it in the panic of 1873, in addition to which it has since suffered several large losses from unfortunate loans. The founder of the bank, J. B. Ritzinger, died six years ago, after he had taken the present proprietors into partnership and on his deathbed he advised his wife to withdraw from the concern her capital, amounting to $200,000. She did this and it had the effect to seriously cripple the bank. It has been generally understood that the capital of the firm was $50,000, but Rand & McNally's Bankers' Almanac for 1886 reports it at $10,000. The deposit account averaged about $500,000. When the bank closed on Saturday night it had about $v3,000 in cash on hand, of which $7,500 was in silver. A steady run of three weeks, started by the failure of a whiskey firm which the bank had been upholding, had reduced it to this state. The depositors were of the poorer class, many of them being German gardeners, butchers and laborers, and it was little more than a savings institution operated as a private bank. The run this morning on Fletcher & Churchman's bank was caused by the popular belief that there were close relations between it and the embarrassed firm. When a run was made on Ritzinger's several years ago, Stoughton A. Fletcher, the father-in-law of Frank Ritzinger, sent money into their back door by the basketful and carried them safely through their trouble. It has since been supposed that Fletcher & Churchman are responsible for the Ritzingers. During the run on them this morning, W. H. English went into the throng of depositors and offered to indorse the certificates of all who wanted their money, telling them that they could get it at his bank, the First National. This allayed uneasiness. The bank now has available cash to the amount of $1,100,000 to meeta possible demand of $1,200,000. The mos accurate information that can be obtained indicates that the liabilities of the Ritzingers will amount to about $450,000, and their assets, consisting largely of real estate, are valued at $300,000. The notes due the bank amount to about $109,000, and the overdrafts to $15,000. The Nassau Bank, of New-York, holds notes indorsed by Ritzinger & Brothers on collateral security for an indebtedness of the Ritzingers to the amount of $30,000. The papers of assignment were made out after midnight last night. The assignee 18 George B. Yandes. SELLING SECURITIES OF A SAVINGS BANK. New-HAVEN, Conn., Feb. 1 (Special).-The remaining securities of the Townsend Savings Bank, face value $489,466 were sold at auction to-day and brought $434 40; $33,062 75 of Selma, Rome and Dalton Railroad stock sold for $5; one judgment against J. M. Ryder for over $200,000 sold for $200.
