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THE CASH was THERE, A Failure at St. Joe Causes a Run on the Banks. Sr. JOSEPH, Mo., June 4.-Steel & Walker, the largest wholesale grocery house on the Missouri river, has gone into the hands of trustees. The failure grew out of the recent failure of A. N. Schuster & Co. The liabilities relarge. A run began on the First National and Central Savings bank, in which Steele & Walker were large stockholders. At the savings banks the depositors were allowed to draw out $50, the 30-day rule being enforced. At noon, when it became evident the banks had plenty of money, the depositors in line dwindled to a few dozen. W. W. Wheeler and Beatty Weakly are named as trustees for Steele. The liabilities are placed at $725,000. It is claimed the assets exceed this amount. In making the assignment nothing was reserved except the homestead of Mr. Steele, both Walkers conveying their residence property to secure liabilities. The firm was composed of D. N. Steele, S. A. Walker and J. W. Walker. Late this afternoon D. M. Steele turned over all of his Kansas lands for the benefit of the firm's creditors. The land is placed at $75,000, which brings the total amount of assets 80 far up to $700,000, with additional assete to be turned in, which will bring the total up to $1,100,000. The list of creditors has now reached a little over $700,000. The firm is indebted to Mrs. Kate Tootle of this city to the amount of $64,000, and Steadman, Steele & Wheeler of Boston represent $110,000. The total amount due local creditors is $270,009. The run on the First National bank of Buchanan county and the Central Savings bank was stopped at noon. The Buchanan had over $1,000,000 in cash when the people started, and while it was at its height a wagon drove up and $400,000 more in currency was unioaded and piled on the counters with an invitation to the people to come and get their money. The bank refused aid offered by the clearing house, which is ready to furnish all that is needed. Over $4,000,000 is in the bank's vaults here, which will be available if needed. At the Central Savings bank the officials took advantage of the 30 and 60 days' notice and paid no more than $50 to a depositor. The run stopped at 2 o'clock, and when the bank closed, after being kept open until night, no one was asking for money. The run was principally caused by small depositors, and the bank had more money when it closed at night than when it opened. S. A. Walker, as soon as the failure of Steele & Walker was announced, tendered his resignation as president of the First National bank of Buchanan county, and R. S. McAimster was place. Tonight all danger of another run on the banks seems to be passed. THE BRANCH HOUSE CLOSES. WICHITA, Kas., June 4.-The failure of the main house of Steele and Walker, at St. Joseph, involved the branch house in this city in the collapse, and its doors were shut this morning. The house was doing a splendid business and it is said made $40,000 profits last year. The stock here is quite large as this has been the distributing point of the main house for the southwest. The "failure has no effect whatever in business circles, in fact the bouse never has been considered in this city as a Wichita institution. A BANK GOES UNDER. BELLEVILLE, Kan., June 4.-The failure of D. M. Steele of St. Joseph caused the bank of Davis, Steele & Co. of this place to close its doors today. It has been considered one of the strongest institutions of Kansas. It is hoped it will resume. The failure will, however, cause considerable difficulty for thetime being. Liabilities, $40,000; assete unknown. ANOTHER GROCER "BUSTED." FORT SCOTT, Kan., June 4.-The W. U. Bell wholesale and retail grocery company of this city executed chattel mortgages tonight to home creditors to the extent of $7500, and the latter will take charge of the business. The liabilities and assets are unknown.
