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Runs ou Savings Banks. OMAHA, Neb, June 13.-The American National bank is in the hands of the comptroller. J.L. McCague, is president and it is supposed that the American National connection with McCague's savings bank, which failed yesterday, caused its downfall. There were heavy runs on all the savings banks here this morning.
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An Omaha Savings Bank Closed. OMAHA. June 12-At 4:12 o'clock this afternoon the state bank examiner closed the doors of McCague's Savings bank at Fifteenth and Dodge streets. No statements of the bank's condition have yet been issued and it is impossible tonight to estimate the liabilities and assets. John L. McCague, vice president of the bank, says the suspension is due to inability to raise money on securities. He fixed the liabilities at $400,000 and the assets of the bank at $460,000 to $475,000. He states positively that depositors will be paid in full. When asked whether or not the American National would be affected by the suspension of McCague's Savings bank, he said he could not certainly see why it would. McCague Bros. were also engaged in the real estate business. and their affairs are said to be largely extended, although the full particulars cannot be given tonight.
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AN OMAHA BANK FAILS. The McCague Savings Bank Is Forced to Suspend. OMAHA, Neb., June 12.--At 4:12 this afternoon the state bank examiner closed the doors of the McCague Savings bank, at Fifteenth and Dodge streets. Nostatement of the bank's condition is yet issued and it is impossible tonight to estimate the liabilities and assets. John L. McCague, vice-president of the bank, said the suspension was due to inability to realize on securities. He fixed the liabilities at $400,000, and estimated the assets of the bank at $460,000 to $475,000. He states positively that depositors will be paid in full. When asked whether or not the American National would be affected by the suspension of the McCague Savings bank, he replied: "I cannot certainly see why it should." The McCague brothers were also engaged in real estate business, and their affairs are said to be quite largely exended, although full particu lars can not be given tonight.
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OMAHA BANKS STAND A RUN. Closing of American National Caused by the McCague Failure. OMAHA, NEB., June 13.-There WAS a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the Clearing House Association would stand by its members. of which the American National is one, but when the assets of the American National Bank came to be examined they were pronounced not good enough and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning and the crowd which had collected became greatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank. the American Savings Bank, the and other was a of all was out as soon as was no to it. institutions called Globe morning. for Loan and there and there Cash Trust steady Company paid apparent drain limit deposits Toward noon the lines had dwindled till they appeared no larger than upon any day of business. Bank Examiner Griffith. who took charge of the American National for the controller. this morning could not say much about the assets. A great deal of paper, thought not to be firstclass, figures in the resources of the bank. The falling off in deposits amounted to nearly $200,000 since May 4, and this has badly crippled the institution. The Dime Savings Bank compelled its depositors to givesixty days' notice of withdrawal. This action, together with the promptness with which the other banks met all demands. is believed to have stopped what almost promised to be a panic. Caused by the Plankinton Failure. LANSING, MICH., June 13.-Advices have been received from Bank Commissioner Sherwood from Crsytal Falls. Upper Michigan, that the State Bank of Crystal Falls has suspended payment. The bank WAS organized about a year ago with a capital of $25,000. It had deposits of $60,000. The cause of the failure is the suspension of the Plankinton Bank of Milwaukee. Taking Precautions at Detroit. DETROIT, June 13.-For some time there has been uneasy feeling in the banking atmosphere of this city occasioned by the numerous failures in savings institutions that have recently occurred throughout the country, especially in the west. Although until this morning there had not been a decided run on any of the savings banks of Detroit, considerable money has been withdrawn in a quiet way. and to forestall any movement that might result disastrously to them and as all act of self-preservation the officers of these institutions met last night and decided to require the notice allowed by law in case of unusual demands. This morning depositors were handed copies of the foregoing circular and told that their deposits would be paid in full at the end of the specified time-sixty days. This seemed to allay the excitement.
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MILD PANIC AT OMAHA. Suspension of a Savings Bank Leads to the Failure of the American National. OMAHA, Neb., June 18.-Omaba passed through a mild financial panic, to-day, as the result of the failure of the McCague Savings Bank, last evening. The news of the suspension of the savings bank, last night, was ground for the belief that any run this morning would be made upon the American National Bank, as that and the McCague Savings Bank were closely connected. To meet this emergency a request was made by the American Na. tional upon the Clearing House Association for funds to meet demands. The Clearing House Association was in session until 11 o'clock this morning. It was found that $160,000 would be needed. and the association decided not to advance this amount, as it was feared the securities of the bank could not be realized upon promptly enough to relieve the bank's wants. Accordingly President John L. McCague decided not to open the doors of the bank this morning. This morning depositors, alarmed by reports, began a run on the savings banks of the city, the other national banks not being affected. The heaviest run was on the Omaha Savings Bank, acknowledged to be the soundest concern in the city, where all depositors were paid in cash. At 3 o'clock the bank closed and notified depositors that it would open at 9 A. M. and continue to pay in full. The Dime Savings Bank, the American Savings Bank and the Globe Loan and Trust Company took advantage
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RUN ON OMAHA BANKS. American National Was Closed by the McCague Failure. OMAHA, June 13. The runs made on most of the savings banks in the city today as a result of the failure of the Mc. Cague Savings bank yesterday and the closing of the American National this morning were without serious results to any of the institutions concerned. All paid out freely, except the Dime, which demanded the sixty days' notice. The Globe paid until noon and then required the sixty days' notice. The heaviest run was on the Omaha. of which Senator Manderson is president. Its loby was packed all day, but depos itors were paid as fast as they could be accommodated. Senator Manderson made a reassuring speech from the counter to the crowd this afternoon and at the closing hour said that the bank was as stable as the hills. The hope in financial circles is that the worst is over and there is little fear that disaster awaits any other bank in the city. The books of the McCague Savings and the American National are being examined, but no statement can be made before tomorrow or Thurs day. The McCague brothers. who practically owned both institutions announced today that their securities were good and that the depositors in both banks would be paid in full. The prompt manner in which the banks have met the runs today has allayed the alarm perceptibly and, though the rune may continue tomorrow, no serious apprehension is felt.
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BETTER FINANCIAL OUTLOOK. A General Feeling That the Worst is Over, Few Small Failures. WASHINGTON, June 13.-The financial condition of the country as viewed from a Treasury standpoint shows general improvement. Bank and commercial failures are fewer, Europe is buying our grain in greater quantities, gold shipments have ceased, at least for the present, confidence is being restored and money is not so tight. The Treasury net gold has increased from $89,000,000 to $91,300,000. and the demand for small money in the West will have the effect to further increase the Treasury gold. The rate of exchange is sufficiently high to warrant the shipment of gold abroad. but the fact that commercial paper is for sale in London has a deterrent effect. There is a general feeling that the worst is passed. the weaker financial institutions and business firms having suecumbed, while those that passed through so far unseathed are the stronger for having weathered the financial storm. More Bank Troubles, SALT LAKE. UTAH, June 13.-The Park City Bank suspended yesterday. The liabilities are $130,000; assets as much. A claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar. OMAHA, NEB. June 13.-The American National Bank is in the hands of the comptroller. J. L. McCague is president, and the supposed American National's connection with the McCague Savings Bank, which falled yesterday, caused its downfall. There are heavy runs on all the savings banks here this morning, WASHINGTON June 13.-The Comp= troller of the Currency has appointed Joseph W. Bennett receiver of the Oglethorpe National Bank of Brunswick, Ga.
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RUNS ON OMAHA BANKS, The Closing of One Causes Others Trouble. Anxious Depositors Clamoring for Their Money. The American National Compelled to Close Its Doors. Runs on Savings Banks in Kensas City and Detroit-Defalcations Discovered in a New York Savings Institution. By the Associated Press. OMAHA, Neb., June 13.-At 4:12 yesterday afternoon the state bank examiner closed the doors of the McCague Savings bank, at Fifteenth and Dodge streets. John L. McCague, vice-president of the bank, said the suspension was due to inability to raise money on securities. He fixed the liabilities at $400,000 and estimated the assets of the bank at $460,000 to $470,000. He stated positively the depositors would be paid in full. The American National bank was closed this morning, by order of the comptroller of the currency. Runs were soon in progress on the Globe Loan and Trust company, the Dime Savings bank and the Nebraska Savings bank. It is understood the affairs of the American national are entangled with those of the McCague Savings bank, which closed yesterday afternoon. A run of extensive proportions began on the Omaha Savings bank at the opening this morning, and the bank was soon besieged by depositore. Senator Manderson and Vice-President Kimball of the Union Pacific, directors of the bank, made speeches to the crowd, guaranteeing them their money, but the run continued. The bank examiner is in charge of the American national. The clearing house, at a meeting last night decided to give it no help, and the decision of the comptroller to close it forthwith. Its statement, May 4th, showed: Capital stock, $200,000: loans and discounts, $531,690; eurplus, $16,000; undivided profits, $5161; due depositore, $577,526. The run on the Omaha Savings bank continues and President Manderson announced to a crowd at 1 p. m. that the bank was ready to pay every dollar. President McCague of the American National said this afternoon his bank closed with almost $100,000 in cash and exchange in the bank, and the mail brought a remittance of $20.000 from New York, He said while adverse circumstances had overtaken the bank, he was positive the depositors would be paid in full. The Dime Savings bank, the American Savings bank and the Globe Loan and Trust company took advantage of the 60-day rule, but the other savings bauks paid depositora in full on demand. NEW York, June 13.-The correspondent here of the American National bank of Omaha, the First National bank, reports a substantial balance to its credit.
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Omaha Banks in Trouble. OMAHA, Neb., June 13. The American national bank is in the hands of the controller. J. L. McCague is president, and it is supposed that the American national's connection with the McCague saving bank, which failed Monday, caused its downfall. There were heavy runs on all savings banks here Tuesday morning.
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MORE WILDRUNS ON BANKS A Couple of Failures Start a Rush at Omaha. All the Institutions Except the Two Previously Closed Weather the Storm-Only One Even Takes Advantage of the Sixty Days' Clause. Kansas City the Scene of a Still More Absurd Run. Omaha, Neb., June 13.-There was a run on every savings bank in the city this morning, precipitated by the failure of the McCague Savings Bank yesterday, followed by the downfall this morning of the American National Bank, in which the McCagues are largely interested. It was unofficially stated yesterday that the clearing house association would stand by its members, of which the American National is one, but when the assets of the American National Bank came to be examined they were pronounced not good enough and the aid of the associated banks was withheld. The ominous sign appeared on the door this morning and the crowd which had collected becamegreatly excited. The McCagues tried to reassure the depositors, telling them that every account would be paid in full. At the Omaha Savings Bank, the German Savings Bank, the American Savings Bank, the Globe Loan and Trust Company, and other institutions, there was a steady drain of deposits all day Cash was paid out as long as called for, and there was no apparent limit to the supply. Senator Manderson and Vice President Kimball, of the Union Pacific, directors of the bank, made speeches to the excited depositors, guaranteeing them their money, but the run continued. The Dime Savings Bank compelled its depositors to give sixty days' notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed, to have stopped what almost promised to be a panic. A CRAZY RUN AT KANSAS CITY. Kansas City, June 13.-As a result of the suspension yesterday of the People's Savings Bank, an insignificant institution with deposits of only $25,000, a run was started this morning on the Kansas City Safe Deposit and Savings Bank. The bank took advantage of the clause of its by-laws requiring depositors to give thirty days' notice of the withdrawal of deposits. That checked the run and at it noon was practically over. None of the other banks experienced a run. Just why the Kansas City Safe Deposit and Savings Bank should have been selected for a run is a mystery. It is the largest and one of the soundest institutions of the kind in the state and has the confidence of the banks and merchants generally. A RUN CHECKED AT DETROIT. Detroit, Mich., June 3.-The State Bank of Crystal Falls, Mich. has suspended as a result of the failure of the Plankington Bank of Milwaukee. The bank is only a year old and its capital is $25,000. The deposits foot up $60,000. The officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits. A run was started this morning upon the People's Savings Bank, one of the strongest in Detroit, but the sixty-day notice requirement checked it. The officers coneur in a statement that "it was not for want of money that we took this action, for we could have secured enough to have paid every depositor, but we did not think this the wisest plan.' A NASHVILLE BANK SHUT. Nashville, Tenn., June -The Nashville Savings Company, of which Thomas S. Marris is owner and president. filed an assignment to-night. The liabilities are $282,876, and the assets are valued at $ 125,000. The deposits amount to $109,010 22, and the certificates of deposits to $72,911 21. Among the assets are $60,000 on deposit with Arthur, Ketcher & Co., suspended bankers of New York. In an interview President Marr says the failure was due to the shrinkage in values and steady withdrawal of money by depositors since failures have become so frequent. The recent failures of local business houses and the suspension of the Commercial National Bank also caught him for large sums. ASSETS WIPED OUT. Mankoto, Kan. June 3.-The bank of Burr Oak, Jewell county, closed its doors yesterday morning. The bank was owned by Hulbert Bros., and the liabilities are placed at $35,000. The assets are practically nothing. C. D. Hulbert, one of the proprietors of the bank, has fled and his whereabouts are unknown The depositors are greatly excited, and if he should return either of his own accord or to answer a criminal charge, there being some inclination among the depositors to prefer such a charge, he would be roughly dealt with. A BANK FAILS IN UTAIF. Salt Lake, Utah, June 13.-The Park City Bank suspended yesterday. Its liabilities are $130,000, and its assets as much. The claim is made that the bank will shortly resume. The assignee says that depositors are to be paid 80 cents on the dollar.
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DETROIT BANES REQUIRE NOTICE. Savings Cannot be Withdrawn Except Under the Ninety Days Notice-A Run Started and Checked. DETROIT, MICH., Jnne 13.--For some time there has been an uneasy feeling in the banking atmosphere of his city, occasioned the numerous that have the country, espeoccurred saving institutions throughout by failures recently there cially had Although in the been until West. this morning not a decided run on of the banks considersavings has been of Detroit, any able money withdrawn in a to movement to quiet that way, might and result forestall disastrously any them and as an act of mutual protection, the officers of those institutions met last night and adopted the following notice to depositors: "There has recently been developed in our city an uneasiness among saving depositors which has been (without cause) directed against some of our strongest banks. To stop the heedless withdrawal of deposits and the lecking up of currency in a time of financial stringency, the undersigned banks respectfully decide in the event of unusual demands OH them and to ensure equal protection to all their depositors, to require the notice provided fori the by-laws of the several banks. "We would, therefore, ask our depositors to review the situation calmly and accept with patience our action, which is taken in our mutual interest and for the benefit of the country at large. "PEOPLE'S SANINGS BANK, "MICHIGAN SAVINGS BANK, "DETROIT SAVINGS BANK, "CITIZENS' SAVINGS BANK, "HOME SAVINGS BANK, "CITY SAVINGS BANK, "WAYNE COUNTY SAVINGS BANK, "CENTRAL SAVINGS BANK, "DETROIT RIVER SAVINGS BANK, "PENINSULAR SAVINGS BANK, "DIME SAVINGS BANK, "GERMAN-AMERICAN BANK, "AMERICAN BANKING AND SAVINGS AssociTION, "STATE SAVINGS BANK." doors of the SavWhen Bank, the largest Peoples in ings one of the Detroit, opened at 10 o'clock this morning an immense crowd of people flocked in with the intention of their were handed of depossts. foregoing They withdrawing told copies the circular and that their deposits would be paid in full at the end of the specified time-90 days. This seemed to allay the excitement somewhat. M. W. O'Brien, president of the Peoples was interviewed the Associated and had this to Bank Press by say: really no this The is excitement. "There and is the contagion occasion for spreading to stop needless withdrawal of and of currency in a we deposits time taken of financial looking stringency up have this action to allay fear." At the people's Bank things began to quiet no down when for it was seen there was of men to toward the had business occasion much de making alarm. quelling heavy A long deposits line citement and everything is comparatively quiet at the other banks. Deposits in the People's Saving Bank amount to over $6,000,000. State Banking Commissioner Sher. wood pronounces it and the other savings bank in the city in a first class condition and says there is no occasion for alarm. OMAHA, NEB., June 13.-The American National Bank was closed by order of the comptroller of currency this morning. Runs started on the Globe Loan & Trust Co., the Dime Savings Bank, the German Savings Bank and Nebraska Savings Bank. No statement of the condition of of the American National is made at once except the fact that the clearing house refused to assist it. It is understood that the affairs of the bank are entangled with those of the McCague Savings Bank that closed yesterday afternoon. The run was of extensive proportions en the Omaha Savings Bank and all the morning the bank was besieged by depositors. Senator Manderson and Vice President Kimball of the Union Pacific, directors of the bank, made speeches to the excited depositors guaranteeing them their money, but the run continued. COLUMBUS, O., June 13.-The Franklin Buggy Company has been put in the hands of a receiver. It is the smallest and youngest company in this business in Columbus. Liabilities are stated to be about $75,000. Assets will hardly cover that sum. The concern was not making money, and the receivership is said to be intended to wind up a losing business on account of the tightening of the times. CLEVELAND, O., June 13.-At the instance of the National Bank of Commerce, W. M. Reynolds was to-day appointed receiver of the Williams Publishing Company, a company doing a large printing and publishing business. The assets and liabilities are not known. NEW YORK, June 13.-Defalcations ag gregating $70,600 have been discovered in the Irving Savings Institution, 96 Warren street, New York. The shortage was discovered by the State Bank Examiners, who are still at work on the books and will not complete their work of the accounts some as there are accounts to 17,000 bank's individual for time, scrutinizing investigate besides the regular bank books.
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Another Bank Fails. By Southern Associated Press. OMAHA, Neb., June 13.-The American National Bank is in the hands of the Comptroller. J. L. McCague is President and it is supposed that the American Nationals connected with the McCague Savings Bank which failed yesterday caused its downfall. There are heavy runs on all Savings Banks here this morning.
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OMAHA BANKS. Another Failure and Several Runs in Progress. OMAHA, June 14. -There is a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the downfall of the American National bank, in which the McCagues are largely interested. It had been unofficially stated that the Clearing House association would stand by its members, of which the American National is one, but when the assets of the bank came to be examined they were pronounced not good enough, and the aid of the associated banks was withheld. The ominous sign appeared on the doors, and the crowd which had collected became greatly excited. The McCagues tried to assure the depositors, telling them that Every Account Would Be Paid in full. At the Omaha Savings bank the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady train of depositors all morning. Cash was paid out as soon as called for and there was no apparent limit to it. Toward noon the lines had dwindled till they appeared no larger than upon any day of business. Bank Examiner Griffith, who took charge of the American National bank for the comptroller, could not say much about the assets. A great deal of paper thought not to be first class figures in the resources of the bank. The falling of in deposits amounted to nearly $200,000 since May 4, and this has badly crippled the institution. The Dime Savings bank compelled its depositors to give 60 days notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed to have stopped what almost promised to be a panic.
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A HARD ROAD FOR THE BANKS. Runs Are In Progress, and Some Institutions Suspend. OMAHA. June 13.-The American National Bank was closed by order of the Comptroller of the Treasury this morning. Runs were started on the Globe Loan and Trust Company. the Dine Savings Bank. the German Savings Bank. and the Nebraska Savings Bank. No statement of the condition of the American National was made except that the Clearing House refused to assist it. It is understood that the affairs of the bank are entangled with those of the McCague Savings Bank, that closed yesterday afternoon. It was said yesterday that the Clearing House Association would stand by its members. of which the American National Bank is one. but when the assets of the American National came to be examined they were pronounced not good enough. and the aid of the Association banks was withheld. The ominous sign appeared on the door this morning. and the crowd which had collected became greatly excited. The McCagues tried to reasoure the depositors. telling them that every account would be paid in full. At the institutions above named there was a steady drain of deposits all morning. Cash was paid out as ROOD as called for. and there was no ap. parent limit to it. Toward noon the lines had dwindled until they appeared no larger than upon any day of business. Bank Examiner Griffth. who took charge of the American National for the Comptroller this morning. could not say much about the assets. A great deal of paper which is thought not to be first class figured in the resources of the bank. The failing off in deposits had amounted to noarly $200,000 since May 4. and this badly crippled the institution. The Dime havings Bank compelled its depositors to give sixty days' notice of withdrawal This action. together with the promptness with which the other banks met all demanda, is believed to have stopped what promised at first to be a panic. The run was of extensive proportions on the Omaha Havings Bank. and all the morning the bank was besieged by depositors. Senafor Man.
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BUSINESS TROUBLES. Runs on Several Banks in Omaha and Detroit-A Nachville Bana Faile. NASHVILLE, June 13.-The Nashville Savings Company, of which Thomas S. Marr is president, the oldest financial institution in Nashville, filed articles of assignment tonight. The liabilities are placed at $220,000 and the assets, accord. ing to the president's estimate, will pay not more than 25 or 30 per cent. KANSAS CITY, Mo. June 13.-As a result of the suspension yesterday of the Peopie's Savings bank a run was started on the Kansas City Safe Deposit and Savings bank this morning, but the bank took advantage of the thirty-day clause and at noon the run was practically over. None of the other banks experienced any run. MOBERLY. Mo., June 13.-The Exchange bank. of Moberly. made an assignment today for the benefit of its creditors. No statement is yet obtainable, but it is believed that payments will be made in full. -OMAHA, June 13-The American National bank was closed this morning by order of the comptroller of the currency. and runs are now in progress on the Globe Loan and Trust Company, the Dime Savings bank and the Nebraska Savings bank No statement of the American bank has been made but the clearing house refused to assist it. It is understood that its affairs are entangled with those of Mc. Cague's Savings bank. which closed yesterday afternoon. A run of extensive proportions began on the Omaha Savings bank at opening this morning, and all morning the bank was besieged by depositors. Senator Manderson and Vice President Kimbali, of the Union Pacific, who are directors of the bank. made speeches to the crowd, guaranteeing them their money, but the run continued. A bank examiner is in charge of the American National. The clearing house. at its meeting'la night, decided to give it no help. and the decision of the comptroller to close it followed. The statement made on May 4 showed: Capital stock $200,000 Lease and discounts 571,699 Surplus 16.000 Undivided profits 5,161 Due depositors 577,326 President McCague, of the bank said this afternoon that his bank closed with almost $100,000 in cash and exchange in the bank and the mail brought remittances of $20,000 from New York. He said that while adverse circumstances had overtaken the bank he was positive the depositors would to be paid in full, The Dime Savings bank, American Sav. ings bank and Globe Loan and Trust Company took advantage of the sixty-day rule, but the other savings banks paid depositors in full on demand. NEW YORK, June 1&-The correspondent here of the American National bank. of Omaha, is the First National bank. which reports a substantial balance to its credit. LANSING, Mich June 13.-The commis sioner of banking has received notice that the state bank at Crystal Falls has made an assignment. The capital stock is $250.000 and deposits $60,000. The bank is involved in the failure of the Plankinton bank at Milwaukee. DETROIT, June 13-Fourteen savings banks in this city, in view of the ten-
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Savings-Bank Runs. [By telegraph to the Dispatch.) OMAHA, NEB., June 13.-There was P. run on every savings bank in the city this morning, precipitated by the failure of the McCague savings Bank yesterday. followed by the downfall this morning of the American National Bank in which the McCagues are largely interested. it was unofficially stated yesterday that the Clearlog-House Association would stand by its members, of which the American National 18 one, but when the assets of the American National Bank came to be examined they were pronounced not good enough. and the aid of the associated banks was withheld. At the Omaha Savings Bank, the German Savings Bank. the American Savings Bank, the Globe Loan and Trust Company, and other institutions there was a steady drain of deposits all day. Cash was paid out 498000 as called for, and there was no apparent limit to 11. Senator Manderson and Vice-President Kimball, of the Intoa Pacine, directors of some of the banks, made speeches to the excited depositors. guarentering them their money, but the runs continued. The Dinne Savings Bank compelled 118 depositors to give sixty days' notice of withdrawal. This action. together with the promptness with which the other banks met all demands, 13 believed to have stopped what almost promised to be a panic. KANSAS CTTY, Mo., June 13.-As a result of the suspension yesterday of the People's Savings Bank. an insignificant institution with deposits of only $25,000. a run was started this morning on the Kapeas City Safe-Deposit and Savings Bank. The bank took advantage of the clause of its by-laws requiring depositors to give thirty days notice of the withdrawal of deposits. That checked the run. and at BOOD it was practically over. None of the other tanks experienced a run. Just why the Kansas City Sate-Deposit and Savings Bank should have been selected for run is a mystery. It 18 the largest and one of the soundest institutions of the kind iu the State, and has the confidence of banks and merchants generally. DETROIT. June The officers of all the savings banks in this city agreed to enforce the time limit upon withdrawals of deposits A run was started this morning upon the People's Savings Bank one of the strongest in Detroit, but the sixty-day notice requirement checked it. The bank officers concur 111 the statement that "It was not for the want of money that are took this action. for we could have secured enough to have paid every depositor, but we did not think this the wisest plan."
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MORE SAVINGS BANKS RUNS. Detroit Officials Put on the BrakesTrouble at Omaha. CHICAGO, June 14.- The savings bank run seems epidemic. At Detroit a run was threatened and the officers of all the banks met and agreed to require the time limit of all depositors. The run was started, but every depositor was required to give the legal notice, and confidence was partly restored. At Omaha there was a run on every savings bank in the city caused by the failure of the McCague bank and American National. McCague says he will pay every depositor. All the banks met the run with cash, and the run was greatly abated by night. The Nashville Savings company has made an assignment with liabilities of $282,000 and assets of $125,000. The Irving Savings institution at New York is short $70,000, due to the rascality of its president, secretary, and paying teller.
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DEPOSITORS EXCITED. Vallure of the McCague Savings Bank Pre. cipitates a Run on Others. OMAHA, June 14.-There was a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the down. fall yesterday of the A merican National bank, in which the McCagues are largely Interested. The ominous sign appeared on the door yesterday morning, and the crowd which had collected became greatly excited. The McCagues tried to reassure the depostors, telling them that every account would be paid in full. At the Omaha Savings bank, the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady rain of deposits all the morning. Bank Examiner Griffith, who took charge of the American National for the comptroller, said the falling off in deposits of the national amounted to nearly $20,000 since May 4, and this had badly crippled the institution.
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NO SERIOUS RESULTS. Omaha Savings Banks Experience a General Run. OMAHA, June 14.-The runs made on most of the savings banks in the city during the day as a result of the failure of the McCague Savings bank Monday and the closing of the American National bank were without serious results to any of the institutions concerned. All paid out freely except the Dime, which demanded the 60 days' notice. The Globe paid until noon and then required the 60 days' notice. The heaviest run was on the Omaha, of which Senator Manderson is president. Its lobby was packed all day, but depositors were paid as fast as they could be accommodated. Senator Manderson made a reassuring speech from the counter to the crowd and at the closing hour said the bank was as stable as the hills. The manner in which the banks met the run has strengthened public opinion.
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OMAHA BANKS. Another Failure and Several Runs in Progress. OMAHA, June 14. -There is a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the downfall of the American National bank, in which the McCagues are largely interested. It had been unofficially stated that the Clearing House association would stand by its members, of which the American National is one, but when the assets of the bank came to be examined they were pronounced not good enough, and the aid of the associated banks was withheld. The ominous sign appeared on the doors, and the crowd which had collected became greatly excited. The McCagues tried to assure the depositors, telling them that Every Account Would Be Paid in full. At the Omaha Savings bank the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady train of depositors all morning. Cash was paid out as soon as called for and there was no apparent limit to it. Toward noon the lines had dwindled till they appeared no larger than upon any day of busi. ness. Bank Examiner Griffith, who took charge of the American National bank for the comptroller, could not say much about the assets. A great deal of paper thought not to be first class figures in the resources of the bank. The falling of in deposits amounted to nearly $400,000 since May 4, and this has badly crippled the institution. The Dime Savings bank compelled its depositors to give 60 days notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed to have stopped what almost promised to be a panic.
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OMAHA BANKS. Another Failure and Several Runs in Progress. OMAHA, June 14. -There is a run on every savings bank in the city, precipitated by the failure of the McCague Savings bank Monday, followed by the downfall of the American National bank, in which the McCagues are largely interested. It had been unofficially stated that the Clearing House association would stand by its members, of which the American National is one, but when the assets of the bank came to be examined they were pronounced not good enough, and the aid of the associated banks was withheld. The ominous sign appeared on the doors, and the crowd which had collected became greatly excited. The McCagues tried to assure the depositors, telling them that Every Account Would Be Paid in full. At the Omaha Savings bank the German Savings bank, the American Savings bank, the Globe Loan and Trust company and other institutions there was a steady train of depositors all morning. Cash was paid out as soon as called for and there was no apparent limit to it. Toward noon the lines had dwindled till they appeared no larger than upon any day of busi. ness. Bank Examiner Griffith, who took charge of the American National bank for the comptroller, could not say much about the assets. A great deal of paper thought not to be first class figures in the resources of the bank. The falling of in deposits amounted to nearly $400,000 since May 4, and this has badly crippled the institution. The Dime Savings bank compelled its depositors to give 60 days notice of withdrawal. This action, together with the promptness with which other banks met all demands, is believed to have stopped what almost promised to be a panic.
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OMAHA BANK CLOSED. The McCague Savings in the Bank Exam. iner's Hands. Omaha special: Just befrre closing time State Bank Examiner McGrew took charge of the McCague Savings Bank. The institution had been in trouble for some time, but the announcement of the failure caused considerable comment, as there were fears that a stampede might follow. Other banks are well fortified against a possible run. Wm. L. McCague. president of the embarrassed bank. expressed himself us follows: "The withdrawal of deposit has been extensive during the last few weeks. amountImg to about E15 000. With the present stringency in monetary affairs it has been Impossible to obtain money to any great extent on the securities, which are mostly first mortgages on Omaha real estate. The bank has been carrying as a usual thing between 10 and 15 per cept. of the available cash resources, while the requirements of the state only make it necessary for savings banks to Carry 5 per cent. This withdrawal of deposits continued so that finding ourselves confronted to-day with a ehottuge in cash, by the advice of the State Bank Examiner we closed the doors. Depositors will be paid in full as rapidly as the state authorities can realize from the collections or sale of securities. The assets are: Mortgage loans, $250,000; collateral loans, $71,000; stocks and bonds. $94,000; warrants, city, county, etc., 86,000: real estate, $13,000, which with cash and other securities will make a total of $477,000. Deposits are $420,000.
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SPARKS FROM THE WIRES. Ex-president Harrieon is enjoying the World's fair. Geo. C. Casler has been appointed postinaster at Hill City. Princess Eulalia is disgusted over the manner in which some Americans are worshiping her. The American National bank of Omaha has closed its doors, and there is is very panicky feeling in banking circles. The McCague Savings bank of Omaha has succumbed to the financial stringency of the times with liabilities amounting to about $100,000. Wm. Hammer and Miss Gay Pye were drowned Saturday while boating on lake Madison, S. Dak. Both had just graduated from the Normal school. The state supreme court has decided that laws passed by the legislature without the emergency clause do not go into effect until ninety days after the adjournment of the legislature. The Great Northern R'y has made a cut in passenger rates from Seattle to St. Paul. making the rate $25, and it is expected that the Northern Pacific will go still farther and cut through to Chicago. World's fair rates are going down. At the inquest over the bodies of the government clerks who were killed by the falling in of the old Ford theatre, Col. Aineworth, chief of the record and pension division, came near being mobbed by clerks who blaine him for the fatal accident.
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FAILURES AT OMAHA. Many Big Concerns Dragged Down One After Another. OMAHA, Neb., July 5.-The American Savings bank has gone into voluntary liquidation and asked the state banking board to wind up its affairs. The action is due to the failure of the American Loan and Trust company, which was placed in the hands of a receiver this afternoon, at the instance of the directors of the concern, the company being the principal stockholder in the savings bank. The failure of the investment company is attributed to the failure of the Omaha and South Texas Land company and the American Loan company. The first of the concerns embarraesed had a paid up capital of $400,000. The savings bank was an offshoot, with a capital stock of $400,000, of which $100,000 was paid up. O.M. Garter is president of both institutions. Since the failure of the McCague bank, the American Savings bank's deposits were reduced to $9000; the remaining securities, amounting to $250,000, are of the best. The total liabilities amount to but $153,000. Garter gave a mortgage on his regidence yesterday for $50,000 to protect one of the eastern creditore from whom money was secured. No statement of the bank's exact condition can be obtained tonight.
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ABBREVIATED TELEGRAMS. Bill Dalton and his gang are now reported at Wagoner, I. T. A Chicago and Northwestern passenger train and a work train collided near Crescent City, la., and two workmen-Bert Jackson and Loren Peterson--were killed. An incendiary fire caused $100,000 damage to the Santa Fe hotel at Emporia, Kan. Philadelphia manufacturers are preparing a circular to be sent to the silver advocates in the United States senate proposing a compromise for mutual protection. The Cigarmakers' International union, in session at Milwaukee, has passed resolutions indorsing Governor Altgeld's action in pardoning the Chicago anarchists. Judge Jenkins, at Milwaukee, has appointed Henry F. Whitcomb and Howard Morris as receivers for the Wisconsin Central railroad. The action is the result of the cancellation of the lease to the Northern Pacific. Obituary: At Buffalo, Charles G. Curtiss. At Hillsboro, III., Rev. W. R. Thompson, aged 85. The McCague Savings bank at Omaha, Neb., has re-opened after nearly four months with closed doors. Connecticut's new anti-oleomargarine law is so strict that only two licenses to sell oleomargarine have been taken out in the entire state. Diphtheria has again appeared in Terre Haute, Ind., and the citizens fear a recurrence of last year's deadly epidemic. In a personal encounter over a lawsuit between them at Roodhouse, Ills., Chas. Hopkins stabbed Elijad Arrindell, who died in ten minutes. By a prairie fire in the western part of the Cherokee strip several hundred settlers lost wagons, tents and horses and a number lost their lives. By order of Mayor Mosby the police have made a canvass of Cincinnatiand find that employment is being given to nearly the full standard capacity of establishments in that city. John H. McBride has begun suit in the United States court at Des Moines, La., to recover royalties aggregating $500,000 on an attachment to a sulky plow, for which, he says, he was granted a patent in 1875. Robt. E. Preston. an old employe of the treasmyat Washin ton has been appointed director of the mint. A prairie fire five miles south of Belvidere, Boone county. Ills., started on the farm of Louis Shirley from burning brush and spread over farm lands for four or five miles, destroying farm buildings and hay and straw stacks. The latest reported attempt at train robbery was near McKeesport, Pa., on the B. and O. There was $62,000 on the train, but the officials had word and let the robbers know it and the latter got away. The grand jury at Chicago has found thirteen indictments against F. W. Smith, Oscar C. Churchill and D. Brown, for an alleged wholesale system of arson.