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stock of $50,000. A year later the building in present use was erected for them, and a few years later the capital stock was increased to $100,000, at which figure it has since remained. The bank has never done a particularly large business, but it has had a great many heavy depositors and has been the custodian of many trust funds. Nearly all the Catholic societies and orders had their funds here and it was the favorite place of deposit for many farmers of this and adjoining counties. For several years past Mr. Harrison has gone on the bonds of a large number of administrators, guardians and other custodians of trust funds. the presumption being that by doing this he secured the money for his bank. It is known that there are a great many creditors of this kind among his depositors, and the failure on this account will cause increased hardship. Several treasurers of out counties had their accounts here, and City Treasurer Pattison had $38,000 on deposit. He claims, however, that he is amply secured, and it is known that within the past forty eight hours he has been given collateral equal in amount to his claim. It is said that this is in the shape of tile-works stock, which is regarded as good property. AFFAIRS OF THE INDIANA BANKING COMPANY. A peculiar complication of the present trouble arises from the fact that Mr. J. C.S. Harrison is receiver of the Indiana Banking Company, which failed about a year ago with liabilities of about $750,000. In a report made to the court of in March, Mr. Harrison stated that he had $123,000 in cash on hand and a dividend of ten per cent was ordered and paid. This amounted to about $75,000, and it is claimed that since that Mr. Harrison has paid out about $15,000 to protect various securities, but is not known how much he may have collected. It isprobable that at least $50, in cash is now in his hands and it is supposed that the money is in this bank. The securities on his bond, which is for $500,000, are Charles Mayer, William Haueisen William Haerle, George W. Stout, George Manfeld and Alfred Harrison. A private consultation between Mr. Harrison and these gentlemen was held on Thursday night, but its result has not been made public. One of the bondsmen gave this assurance to a Journal reporter yesterday: "You can say positively that the money and assets of the Indiana Banking Company are all right, and that the depositors will not lose one cent through Mr. Harrison's failure. This is authentic.' In connection with this matter various rumors are current, and some of them seem to have foundation in fact. is said Mr. Harrison gave his bondsmen indemnifying security in the shape of tile works stock and mortgages on certain property, but the latter had not been placed on record in the county recorder's office up to a late hour last night. From what several of the depositors said yesterday, it is certain that they have received some assurances or security against possible loss, but what they are remains to be developed. Some have talked about a asking for the appointment of new receiver, but Mr. Harrison cannot be removed during the vacation of court unless he chooses to resign. Those who know him best think that there is little probability of him doing this. POSSIBLE REORGANIZATION OF FLETCHER SHARPE'S. A scheme was developed yesterday regarding the proposed reorganization of Fletcher & Sharpe's bank, and it met with considerable favor. Mr. Joseph A. Moore is leading the movement, and he thinks it will be successful. It is, briefly, to reorganize the bank as a joint stock concern, the heavy depositors to take stock equal in amount to their claims, in addition to some outside capitalists who have expressed a willingness to go in. The small depositors, whose necessities are most urgent, are to be paid 50 cents on the dollar immediately, and to receive certificates of deposit for the remainder, payable in six and twelve months. The old partners are to turn over their real estate to cover the amount of the total deposits, and if their property exceeds this in value. they are to receive the amount of the residue in stock. Under this arrangement. it is expected that Mr. Ingram Fletcher, whose honesty and ability is questioned by no one, is to have the active management of the new concern Mr. W. C. De Pauw is talked of as being a party to the proposed reorganization. Such a scheme has been found to be practicable and to work advantageously in other cities, and there is reason to believe that it will here. There is a very strong desire among the depositors that some such action should be taken. A number of the heaviest creditors, representing claims amounting to $250,000, have already signified their willingness to abide by such an arrangement, and the prospects of its consummation seem to be favorable. THE FEELING ON THE STREET. The failure of Harrison's bank does not seem to have created any apprehension of further disaster. The suspension was not unexpected, and as the bank had no large number of depositors as compared with similar institutions, the distress caused by its failure will not be so widespread. The other bankers of the city who were interviewed yesterday, said that they apprehended no further trouble, and that their business was moving along as usual. PAYING OFF IN TRADE DOLLARS. On Thursday morning a man entered Harrison's bank and presented a check drawn in his favor on that bank for $10. "I won't pay it," said*J. C. S. Harrison. "I need the money badly," the check-holder insisted, "and I hope you'll pay it." "Will you take trade dollars?" said Harrison. "What are they worth?" was the inquiry. "Eighty-five cents on the doltar, and I'll give you ten of 'em for the check." The check holder hesitated a moment and then passed the paper over the counter, receiving therefor $8.50 in trade dollars, and other small checks were paid in like coin. On showing to the drawer of the check the ten pieces of depreciated silver, that gentleman promptly made up the deficit and charged the amount to profit and loss. Mr. Harrison has placed this community under great obligations to him for his recent innovations on old fogy methods of banking.
