Article Text
His Liabilities, All Told, Will Come Within $150,000, for Which He Has Property More than Ample to Liquidate. City National Bank of Louisville Fails and Others in Trouble. Judgment for $87,175 Forces the $1,000,000 the Concern of Parkhurst & Wilkinson to Wall at Chicago-Other Failures. FAILURE AT CONNERSVILLE. The Citizens' Bank, owned by Hon. James N. Huston, Suspends Payment. to the Indianapolis Journal. Special CONNERSVILLE, Ind., July 24.-People Bank the front of the Citizens' 8 passing o'clock this morning saw this notice posted on the door: CONNERSVILLE, Ind., July 24, 1893. To make Depositors: collections. Finding or to it realize utterly upon stringency impossible my assets, to prevailing, owing to the I have general concluded, monetary in the interest set now concerned, to suspend business. of all statement is being prepared the which bank. will I can assure will be in forth A the assets and depositors liabilities that of every claim paid against the with bank the least possible entire estate, delay. full and to the bank's assets my inviolate In addition real and personal, shall be hela against the bank in full. for both the payment of every claim J. N. HUSTON. To many persons the suspension was in it but the more observant saw strinsurprise, natural result of the prevailing gency the in the money market. To a reporter Mr. Huston greatest said: liability of this bank personal could "The possibly exceed $150,000. My receivable, entire property, not are cattle, worth horses, much bills more including than etc., this amount, of the not bank itself. the assets I hold manufactory stock. estate busi- in Further, town lots and real Clinton ness blocks, county. Marion county. in IIIFayette Ohio, and tracts of land uncounty, and Pennsylvania absolutely it necesincumbered, nois would that. go were toward paying deposmy sary, liabilities. dollar You for can dollar assure will be As paid for itors that soonest possible time. after a at the in Connersville at my settlement remaining 18 effected I would not say present." Huston had nothing to say as to years the Mr. of the bank. In the twenty be one of future it had grown to The bank of the its biggest existence concerns in Mr. the Huston's city. father in was incorporated into by J. N. Huston's hands and has on the 1870, death passed of the former in 1875, since been Connersville under his Times control. of this afternoon in the The "Mr. Huston was very careful even this says: of the bank. and did Before morning management doing not good. neglect the cashiers oppor- open- of tunity of sent for the and ing hours he factories in this city, that the two prominent their regular pay rolls, This act disbursed not be in want. be reworkmen was considerate might and one that will membered. deed of vastly more Huston impor- pmt "Another executed. Had Mr. statetance the was customary sign without condition, the a run ment out would of the have bank's instituted undoubtedly upon imNamediately other been banks-the First the the the Fayette Savings-at A lack result tional could and hardly be have imagined. ensued that of might confidence have demoralizad would the entire business intrests of utterly the city. false, which circumstances, usually "Reports, in the wake of such the farmers would were follow a circulated crisis when that the affair was cannot learned. recause show that it itself was sult. but facts the Indeed malicious the suspension falsehoods that It have has due to against Mr. all his been nttered he had transferred Huston. had lost been told into that other hands; that be had been property through speculation; that real he estate, and giving mortgages had become on heavily could in debt. not that he slanderous things The records at More imagined. all, and have been are open to will one the courthouse ventured that nowhere the trans it is more open than that had find any Huston. He says had actions how extensively the was he known of Mr. his credit report imbeen circulated he would have that enspended the tightening a month paired ago. This. connected made with the step inevitable, it of money although matters, greatly to of be deplored, confidence. but. caused no in loss the Citizens' as Bank seDepositors feel that their be in money their own is pockets, cure as it would the trustful assurance that his every- obliand thing have he controls will go to meet aftergations. Business in the city small is good. excitement this denoon. veloped and this the morning has interests died away. will Mr. Huston's other in any manner, to not be citizens affected will be sincerely years. glad has and our Huston, who, in past Connersville, see worked Mr. invaluable good of for affairs cireumstances again resume have. unfortunately, control suspended."
