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OUR NEXT.] "FAILURE TO REALIZE." An Indianapolis Bank Compelled to Close Its Doors-Effect of the Failure. INDIANAPOLIS, IND., July 15.-The Banking house of Fletcher & Sharpe did not open theirs doors this morning. The following WES posted on the door: "To OUR DEPOBITORS:-Owing to inability to realize on securities, we regret to say, we ara compelled to suspend payments. Our property is ample to pay all depositors as BOON as it can be converted. FLETCHER & SHARPE." (Signed) A great deal of excitement was created by the announcement, and in a short time large crowd of depositors gathered on the side walks around the bank building. Admission to the bank was refused the depositors and reporters alike, and all kinda of absurd reports were current. The bank is the oldest financial institutionin the city, and the firm consists of Ingram Fletcher, Thos. Sharpe. Stoughton A. Fletcher, Jr., and Albert E. Fletcher. The last statement of the bank for the six months ending November 30, 1883, showed a capital of $200 000 with monthly average deposits of $1,700,500. During the forenoon, Measrs. Harrison, Milier and Elam, lawyere, appeared before Judge Taylor, and on the petition of F. .H. Fletcher, Jr., made an application for the appointment of a receiver for Fletcher & Sharpe. The court entertained the motion and appointed William Wallace and fixed his bond at $500,000. Wallace filed his bond and took poesession of the bank this afternoon. He is unable as yet to furnish a statement of the liabilities and assets, but he stated to an Associated Press reporter that a very cursory examination showed liabilities to be $1,800,000. with agests of $2,200,000. It will be several days before a detailed statement can be had. The individual wealth of the owners is estimated at $1,000,000, and it is stated they will make a personal assignment. There are many surmises as to the cause of the failure, Among others it is stated that during the panic of 1873 the firm was compelled to take possession of a large amount of real estate which it held as security and which since has shrunk in value. It is also said the firm made large advances to grain and provision dealers. The Indiana National Bank will protect checks drawn by the Farmers and Mercbants' Bank of Winchester, Indiana, on Fletcher & Sharp. It will also protect the drafts drawn by the First National Bank of Lebanon, Indiana, on Fletcher & Sharp, The effect of the suspension WAS the cause of a run on two or three other banks. The run, however, did not assume the nature of a panic. There was a large crowd at the counters of Ritzinger's bank during the day demanding and receiving money. The depositors of this bank are largely of the working classes, and the amounts paid were generally small. There WAB also a considerable run on Fletcher & Churchman, but all demands were promptly met. Both Ritzinger and Fletcher & Churchman received more money on deposit than was paid out. Ingram Fletcher, of the sus pended firm is seriously ill, and the other partners decline to talk. While there is is some anxiety as to the outcome the general feeling in financial circles is less panicky than during the bank suspensions last August.
