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A Louisville Bank Fails. LOUISVILLE, Ky., July 25.-The Merchants' National bank of Louisville, has suspended.
6481. Merchants National Bank (Louisville, KY)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
- 2161
- Charter Number
- 2161
- Start Date
- July 25, 1893
- Location
- Louisville, Kentucky (38.254, -85.759)
Metadata
- Model
- gpt-5-mini
- Short Digest
119cd46589757a2f
Response Measures
Full suspension, Books examined
Description
Multiple contemporary newspapers report heavy withdrawals/drains from country banks causing the Merchants' National Bank of Louisville to suspend on July 25, 1893; controllers later authorized resumption and the bank reopened Aug 31, 1893. Cause is withdrawal pressure from country banks (local_banks).
Events (5)
1.
July 31, 1874
Chartered
- Source
- historical_nic
2.
July 25, 1893
Run
- Cause
- Local Banks
- Cause Details
- Steady and growing demand/withdrawals by country banks and country depositors produced a run on the bank.
- Measures
- Bank suspended payment (closed doors) after heavy withdrawals; officers asserted solvency and promised depositors would be paid in full.
- Newspaper Excerpt
- The failing of the Merchants' National was caused by the withdrawals of country banks.
- Source
- newspapers
3.
July 25, 1893
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension triggered by heavy withdrawals/drain from country banks and depositors; bank closed its doors at 10 o'clock.
- Newspaper Excerpt
- The Merchants' National bank of Louisville, has suspended.
- Source
- newspapers
4.
August 31, 1893
Reopening
- Newspaper Excerpt
- Two more suspended banks, the Louisville City National and the Merchants' National, resumed business yesterday (Aug. 31).
- Source
- newspapers
5.
June 2, 1894
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (24)
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dianapolis National Bank failed to open its doors this morning. AN INDIANAPOLIS BANK. INDIANAPOLIS, July 25.-The Bank of Commerce did not open its doors this morning. The statement of the Indianapolis national bank on July 14, showed resources, $2,318,154. Liabilities: Due depositors, $1,194,586; United States deposits, $193,100; (deposits of disbursing officers, $106,900; due other national banks, $146,503;due banks, $73,579; notes and bills rediscounted, $51,187; bills payable, $58,000. Capital stock, $300,000; surplus, $100,000; undivided profits, $44,448. The Indianapolis, National was considered one of the strongest banks in the city and was designated the depository of the United States. President Theodore Haughey, last night, consulted with other bankers, having previously secured $50,000 to tide him over yesterday. He said the failures at Louisville and New Albany had aggravated the local situation and it was thought best to suspend. The Bank of Commerce has not been one of large deposits, and the failure will not have much effect locally. Theindebtedness is said to be $150,000. At 11 o'clock a heavy run was being made on the Indiana National. The Louisville Deposit Bank has failed. A LOUISVILLE BANK. LOUISVILLE, Ky., July 25.-The Merchants' National bank has suspended. The Fourth National bank has sus. pended. AT MILWAUKEE. MILWAUKEE, July 25.-The Wis. consin Marine and Fire Insurance Company Bank closed its doors this morning. The bank was commonly known as the Mitchell bank. The notice on the door says it is closed on account of the monetary stringency. The statement
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IN WALL STREET. Bank Failures in the West Helped to De press Values. Special Dispatch to The Evening Star. NEW YORK, July 25.-The opening of today's market recorded variations of 1-4 to 3-4 per cent either way from last night's closing. Financial institutions in all parts of the country are daily closing their doors and communities not yet affected are apprehensive and cautious. The demand for currency in the south and west continues, nearly a million and a half being shippped to these points. Yesterday and today's large. shipments, it is expected, will be quite as The sentiment among traders early in the day was a trifle more encouraging, and they hoped to see prices rally somewhat on good buying of small lots, but the bears were aided in their efforts by several important bank failures, the decreased earnings of St. Paul and Atchinson, and the utter lack of support on the part of the bulls. Louisville has been watched with more than usual interest for several days, and rumers of impending trouble were verified today by the announcement that the Merchants' National Bank, with a capital of $500,000, and the Louisville Deposit Bank, capital $300,000, had failed. The Indianapolis Bank, which closed its doors today, had deposits amounting to $1,700,000. These suspensions were announced shortly after 1 o'clock, and a vigorous and successful assault was made all along the line, prices yielding easily in consequence. St. Paul sold off from 51 3-4 to 48 7-8, Rock Island from 57 3-4 to 55 7-8, Western Union from 74 to 72 1-4, North West lost 5 per cent to 90, Lake Shore 1 1-2 to 114 and Burlington 4 to 70 1-2. In the industrials the result was the same, General Electric declining to 46, a loss of 3 per cent from the opening. Sugar sold down to 71, a loss of 1 3-4 per cent, and Chicago Gas conceded 2 points to 50 1-2. Atchison's earnings second week July decreased $91,429. St. Paul earnings third week decreased $77,000. The clearing house statement today shows a large volume of business. Exchanges, $93,834,693; balances, $5,015,437. The subtreasury was again debit $604,622. Money on call was easy, loans being made at 4 per cent. Time money at moderate rates was offered to railroads having obligations to provide for at an early date, but was not accepted. For speculative purposes, however, time money is not obtainable anywhere in the east except at fancy rates. At 2:30 the market rallied somewhat from the low prices recorded during the preceding hour, during which time the lowest figures of the day were reached, and from one-half to one per cent were added to values. Northwest touched the lowest figure of the year, selling at 89 1-2 on report of the failure of John L. Mitchell's bank of Milwaukee, one of the largest banks in the city. Owing to the connection of the Mitchell family with this property, it was feared that considerable stock might be thrown on the market. The closing was dull, but at slight advances from minimum figures.
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THREE MORE IN LOUISVILLE, Two National and a Private Bank Forced to Close Up. Special to the Indianapolis Journal. LOUISVILLE, July 25.-Panic reigned in banking circles here to-day, and as a result three more failures are added to the list, making five since Saturday for Louisville. Runs were in progress on all the banks and none can tell where the trouble will end. The institutions gone up to-day are the Merchants' National, the Fourth National and the Louisville Deposit Bank. The Merchants' was the first to go. Half an hour later the Deposit Bank posted a notice and about the same time the Fourth National went to the wall. At that hour the excitement was running high and every one of half a dozen banks was crowded with depositors who were in line waiting their turn with the paying teller. The first failure of the present crisis was that of the Kentucky National Bank, Saturday. Then came the Louisville City National Monday, after the intervention of a Sunday holiday. and the Merchants' National. The Louisville Deposit and the Fourth National to-day. The failing of the Merchants' National was caused by the withdrawals of country banks and country depositors. The Louisville Deposit was the only bank in the city not a member of the clearing-house association, and, in its time of need, none of the other banks would give it any assistance whatever. The suspension of the Fourth National was a result of the panic. For a week there has been a stendy pulling out of deposits. This changed into a run after the suspension of the Kentucky National last Saturday. and the run continued Monday and Tuesday, and until the funds were exhansted to-day. The Merchants' National was capitalized at $500,000. and J. H. Lindenberger is president. The Fourth National has a capital of $300,000. and a surplus of $5,000; George Davis is president. The Lonisville Deposit Bank has a capital of $800.000, and a surplus of $16,128; Moses Sch wartz 18 president. The last state. ment of the Fourth National was as follows: Resources.
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SHUTTERS UP IN LOUISVILLE. One Bank Failure Follows Another in the Kentucky City. LOUISVILLE, July 25.-The Merchants' National Bank closed its doors at 10 o'clock this morning. This is the third national bank of this city which has suspended since Saturday. It was the steady and growing demand from the country banks which caused the trouble. President J. H. Lindenberger says the bank is abundantly solvent, and there is no doubt that the depositors will be paid in full. He also says the stockholders will receive face value for their shares. The Merchants' National Bank was organized as a state bank in 1860 and became a national institution in 1874. Its capital stock is $500,000. At 10.30 the Louisville Deposit Bank was closed. It was organized a little over a year ago by Moses Schwartz, its president, with a paid up capital of $300,000. It was started at a bad time, and was refused admittance to the Clearing House. It however seemed to prosper for awhile, and at one time its stock sold above par. It might have pulled through but for the suspension of the three national banks. The Fourth National Bank is also among the victims.
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More Bank Suspensions. INDIANAPOLIS, IND. July 3.-The Bank of Commerce did not open its doors this morning. INDIANAPOLIS, IND., July 25. - The Indianapolis National Bank suspended this morning. LOUISVILLE, Ky., July 25.-The Merchants' National Bank suspended payment this morning. MILWAUKEE. WIS., July 25.-The - Wisconsin Marine- and Fire-Insurance Company Bank closed its doors this morning. This is Senator Mitchell's bank and has been considered the strongest bank in the city. TOLEDO, O., July 25.-The Farmers' National Bank of Findlay, O., closed its doors at noon to-day. No excitement prevails, and the other three banks in the city are prepared for any run that may follow. LOUISVILLE, Ky., July 25.-The Fourth National Bank threw up the sponge at 1:18 o'clock this afternoon after a hard fight. A run during the morning, with a drain from country banks. caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." Four national banks have thus far suapended since Saturday. The officers of the Merchants' National bank assort their solvency. Depositors and stockholders will receive dollar for dollar. By 10:30 o'clock it became evident to the directors of the Louisville Deposit Bank that they could not meet the day's demands, and as the general condition of financial affairs was such as to preclude the hope of outside assistance, the directors ordered tne doors to be closed, and papers were prepared making an assignment to the Ger. maus Trust Company.
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LOUISVILLE BANKS SUCCUMB. Three Yield to Heavy Withdrawals of Deposits. Louisville, Ky., July 25.-The Merchants' National Bank suspended payment this morning. The Fourth National bank threw up the sponge at 1:18 o'clock this afternoon after a hard fight. A run during the morning, with a drain from country banks, caused the suspension. President George Davis was seen just after the closing of the doors. "All the information we have to give out at this time," he said, "is that no one will lose a mill by our suspension." Four national banks have thus far suspended since Saturday. The officers of the Merchants' National Bank assert their solvency, and that depositors and stockholders will receive dollar for dollar. By 10:30 o'clock it became evident to the directors of the Louisville Deposit Bank that they could not meet the day's demands. As the general condition of financial affairs was such as to preclude hope of outside assistance, the directors ordered the doors to be closed, and papers were prepared making an assignment to the Germania Trust Company. The Deposit Bauk was organized a little over a year ago by Moses Schwarze, its president, with a paid up capital of $300,000. It was started at a bad time, and was refused admittance to the clearing house. It, however, seemed to prosper for awhile and at one time its stock sold above par. It might have pulled through but for the suspension of three national banks. A NEGRESS STARTS A RUN. At 1 o'clock this afternoon a small run was caused on the German Bank by an old colored woman who had $50 deposited there. She did not have a certificate with her, and lovdly demanded that she be given her money without identification. The noise she made attracted attention, and in a few moments a hundred people were about. The bank officials had a strong box, said to contain $300,000, brought over from the Louisville Trust Company. The money was spread out on the counter and the cashior announced that he was ready to pay off any and all claims. A few of the small depositors drew their money, but the others were spedily satisfied that the BGerman ank was in no:danger and left. Subsequently a heavy run started on the German Bank and continued up to 3 o'clock. The bank has over $500,000 in cash and $1,500,000 worth of securities, which can be turned into money at a moment's notice. Several banks kept open until 6 o'clock.
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BANK BREAKING BREVITIES, The Fourth and Merchant's National and the Deposit Bank, all of Louisville Kentucky, suspended, yesterday. The G. B, Hodgeman, Manufactur ing Company, cooperage and bridge timber, and wholesale dealers in lum ber have gone into the hands of a re ceiver, Ripley & Bronson, Iron merchants of St, Louis Mo, assigned yesterday; liabilities $150,000; assets, Irrbably, about the same, A. meeting was held in Denver to de vise means of taking care of the desti tute who number over 8,000,
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Business Complications. The Louisville Bank of Deposits has failed. The Indianapolis National bank has closed. The Taylor County (Miss.) bank has assigned. The First National bank, Orlando, Fla., has suspended. The Bank of Commerce, Indianapolis, has suspended. The Merchants' National bank, Louisville, has failed. E. J. Gaynor, railroad contractor, Pottsville, Pa., has failed. The J. Obermann Brewing company of Milwaukee has failed. The Wisconsin Fire and Marine Insurance bank has closed. Parkhurst & Wilkinson, Chicago iron merchants, have assigned. The G. B. Hodgman Manufacturing company, Sandusky, o., has assigned.
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of other banks, but at each large depositors came to its assistance, and officers assured those interested that they were perfectly safe. The general opinion is the worst is past. RUNS ON LOUISVILLE BANKS. LOUISVILLE, July 25.-The Louisville Deposit Bank failed to open its doors today. The Merchants' National Bank has suspended, as also the Fourth National Bank. There were runs on several other banks, mostly small, but all stood the strain. The failure of the Merchants' National was caused by the withdrawals of country banks. The Deposit Bank was not a member of the Clearing-house, and none of the other banks would assist it. The Fourth National failed as a result of the panic caused by the failure of others. None of the failures are considered bad. The depositors of the two national banks will be paid in full. The Merchants' National has a capital of $500,000, the Fourth National a capital of $500,000 and a surplus of $25,000. The Deposit Bank has a capital of $300,000; surplus, $16,000. The last statement of the Fourth National Bank showed a paid in capital stock of $300,000, a surplus fund of $37,000 and undivided profits of $27,956. The Merchants' had a paid in capital of $500,000, a surplus of $100,000 and undivided profits of $21,394. The Deposit Bank statement showed a capital stock of $300,000, undivided profits, $19,155. All the bank officials express confidence that no one will lose a cent if they get time to realize on their assets. Shortly after assignment of the Fourth National President Schwartz filed an individual assignment of all his personal property to the same assignee. The Sweetwood Distillery Company also made an assignment, Mr. Schwartz being President of that company also. No statement has yet been prepared. A FAILURE AT FINDLAY, OHIO. FINDLAY (0.), July 25.-The Farmers' National Bank, one of the popular financial institutions of this city, closed to-day because of its inability to realize upon its assets. The officers assert that they will be able to pay depositors dollar for dollar, and have a surplus when affairs are settled up. Ever since the failure ex-Secretary Charles Foster has been drawn upon heavily, and was unable at the present time to meet the constant drain. There was no run on other banks in the city.
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Two at Louisville. LOUISVILLE, July 26.-The Merchants National bank has suspended. LOUISVILLE, July 26.-At 1:30 p. m. the Fourth National bank closed its doors.
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AND YET THEY COME. Tuesday evening and Wednesday morning papers were curiosities. Take the Daily News for illustration: One column had a telegraphic report from Eckels, Comptroller, stating that all the trouble was over-the country was safe, and no failures were probable. This was written the 24th. On the 25th and 26th it took over two columns of fine type to record the failures, among them the oldest and strongest banks in the U.S. The most remarkable statement ever made in the financial world came in the finance columns of Tuesday, from New York. It was the statement that "the Philadelphia banks are unable to meet their payments, and the New York exchange is disturbed at this failure on their part!" And yet, so fearful is the goldbug organization that they do not dare to throw Philadelphia into bankruptcy. One attachment issued and over goes everything! We make up a list of a few of the failures, as they occur in one daily issue: Bradford & Church, bankers, Chicago. Henry Bach, wholesale clothing, N. Y. Wisconsin F. & M. Ins. Co. Bank, Milwaukee, by far the strongest bank in the city, and caused great excitement. The city had $1,630,000 in the bank, and will have to suspend payment, as the county did when the Commercial recently closed out. The C. M. & St. P. Ry is also mixed up in it. Several other Milwaukee institutions follow the above failure. New York-a panic raged on the N.Y. stock exchange all day Tuesday, "owing to the bank crashes." "Everything is all right," says Eckels!! INDIANAPOLIS. The Bank of Commerce failed Wednesday. The failure is for over a million dollars.; It was a U.S. Depository, and had over $800,000 of the government funds in it. "It is only a weeding out of banks that ought not to exist," said Eckels, recently! The Indianapolis National Bank failed the same day. "This was one of the oldest and soundest financial institutions in the west." Last week's statement showed over $1,000,000 of bonds to secure depositors! It was the oldest in the city. C. W. Depauw, the banker capitalist, failed on Saturday. The other banks are being run on and several factories have closed. LOUISVILLE. The Louisville Deposit Bank, failed the 25th. The Merchants National went down also, the third national bank to fail in three days, in Louis ville. The Fourth National closed its doors the afternoon of the 25th. The Bank of Commerce went down same day. The Hudson River Tunnel Co., Jersey City, has tumbled. The Hodgman Manufacturing Company, Sandusky, has "gone out." Ripley & Bronson, iron merchants, St. Louis, failed. Olaf Pary, New York Mills, Minn., has collapsed. Wealthiest Finlander in the west. Montezuma Silver Mines, Col., in a receiver's hands. Parkhurst & Wilkinson, iron, Chicago, gone under. $1,000,000. Farmers National Bank, Toledo, closed its doors at noon today. (25th.) Gayner, the great railroad conductor, Pottsville, Pa., assigned today. The St. Louis Steam Heating Co. closed today. Tacoma banks are in trouble. The Manchester National Bank of the Commonwealth went over the 25th. Eastern Cotton mills closing every day. Gloomy. On the morning of the 26th the papers were at last compelled to get off their perch, and admit that the situation as to finances was gloomy, and foreboded disaster. The display heads say, "The New York Money Kings Do not Like the Situation." The New England banks are all tottering. A. meeting of the silver men of New York was broken up by the republican goldbug gang. It was held at 5th Avenue Hotel. Wall Street is at last gloomy. The cloud is darkly gathering. And yet it is but the beginning.
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THE FINANCIAL SITUATION. On the 25th the Mitchell bank at Milwaukee closed its doors Its deposits amount to nearly $3,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their loors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also falled on the 25th. They are the Merchants' National, the Fourth National and the Louisville Deposit bank. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockhoMers will not be more than 60 per cent. In either case. The situation on the New York stock exchange on the 26th was critical and a panic was narrowly averted. The news that the Erle railroad had gone into the hands of a receiver was largely responsible for the break in stocks which felt from 1 to 4 points. H. I. Nicholas & Ea. brokers, assigned.
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FINANCIAL AND INDUSTRIAL -Money 1s piling up in the banks of Chicazo. Financiers of the city are greatly encouraged. Feeling in the stock market is confident. Street railroad shares particularly firm. Wheat advanced 2 cents a bushel. Exports were heavy, 495,000 bushels and 67,000 barrels of flour. Corn made about the same advance as did wheat. Country news and country buying furnished the impetus. Provisions shared the upward movement of grain. Lard showed a gain of 30 cents and ribs of 35 cents a hundred. -The attempt to cover a little short pork at Chicago jumped the price very quickly $2 a barrel, from $10 50 to $21.25, closing at $20.50. -At Indianapolis, the Indianapolis National Bank and the Bank of Commerce: at Milwaukee. the Wisconsin Fire and Marine Insurance Bank: and at Louisville, the Merchants' National and Louisville Deposit Banks suspended Tuesday morning. This makes four Louisville banks that have collapsed in three days. In each case the depositors will be paid in full. although the stockholders may lose considerably. -The reported failure of the International Trust Company at Denver is untrue. The company, as trustee under a second mortgage, has simply made a formal party defendent in the suit for a receiver for the Pueblo City Railway. -The Obermann Brewing Company. of Milwaukee, involved in the suspension of "Mitchell's bank." made an assignment to protect creditors. -The G. B. Hodgeman Manufacturing Company. one of the largest concerns in Sandusky, Ohio: E. J. Gayner. the Pottsville, Pa., railroad contractor; and Ripley & Bronson. iron merchants at St. Louis, made assignments. -The Plainview (Neb.) State Bank. which was burglarized of $3,000 in cash, has suspended. -The National Bank of the Commonwealth and the Bank of New England at Manchester, N. H., have suspended. -A New York report says that Grand Master Workman Powderly of the Knights of Labor, has resigned, and that James J. Linehan, President of the Trade and Labor Assembly of Chicago, is likely to be his successor. -The extensive woolea-mills of Scatchard Bros. Philadelphia. which have been giving employment to about two hundred and fifty hands, haveshutdown indefinitely owing to the depression in trade The firm has been in business for over a quarter of a century. and this is the first time that operations have been suspended in the mills. -The failure of H I. Nicholas & Co. members of the New York Stock Exchange, was announced Wednesday afternoon. The firm is composed of H. I. Nicholas. John D. Nicholas. Walter C. Taylor and Marcus Mayer The firm was considered quite a prominent firm in stock exchange circles. -R. G. Dun & Co.'s Weekly Review of Trade says: This week the country has stood surprisingly well an extraordinary strain. The failures of many banks and firms have come despite the relaxation in Eastern and in some Southern and Western money markets. Denver banks were overthrown largely by the crazy wisdom of the people. but in most citles statements show the hund in altha condition and
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THREE BANKS TO REOPEN. : LOUISVILLE. Ky,, Aug. D:-One of the four suspended national banks, the Fourth National. is expected to reopen Monday and the City and Merchants' will not be far behind.
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NATIONAL BANKS TO RESUME BUSINESS. Chicago, Aug. 26.-At a meeting of the stockholders of the National Bank of Kansas City, held here yesterday, It was unantmously decided to resume the business of the bank. Sixty-five stockholders repre. senting over 6,100 share-about a two-thirds Interestwere present. A careful Investigation showed the affairs of the bank to be In excellent condition, and by a unantmous vote the bank was declared solvent. Ways and means for the management will be sought at once and the bank will reopen within twenty days upon the policy laid down by the Controller In his recommendation. Louisville, Ky., Aug. 26.-The Fourth National Bank, one of the few Louisville banks which suspended payment during the recent pante. 'resumed business to-day. The City Nath nal and the Merchants' National will also resume within a few days. An informal meeting of the stockholders of the Kentucky National Bank will be held to discuss the matter of reopening that institution.
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CONTROLLER ECKELS BUSY. Many Suspended Banks Want to Resume Business. The controller of the currency was a busy man today. President Laws of the People's National Bank of Denver, Col., which recently resumed, applied, on behalf of that bank, for authority to absorb the assets of the People's Savings Bank of that city. The controller reserved his decision. Prestdent Dow of the Commercial National Bank of Denver, and President Walters of the First National Bank of Birmingham, Ala., applied to the controller today for authority to reopen those banks. The controller has authorized the City National Bank and the Merchants' National Bank of Louisville, Ky., to resume business September 1. The only bad news received by the controller today was the suspension of the First National Bank of York, Neb.
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National Banks Reopen. LOUISVILLE, Auz. 28.-The Fourth National mank. one of thefive Louisville banks to suspend paymentduring the recent panic, has resumed business. The City Nationat" and the Merchants National will also resume in a few days. CRICAGO, Aug. 28,-At a meeting of the stockholders of the National Bank of Kansas City it was unanimously decided to resume the business of the bank.
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Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently sus= pended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver, Col.; the State National Bank of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.
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Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver. Col.; the State National Ban k of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.
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More Banks Resume. The following additional national banks, which recently suspended payment, have been permitted to reopen their doors for business, viz: The German National Bank of Denver, Colorado, the State National Bank of Denver, Colorado, the First National Bank of Canon City, Colorado, the Louisville City National Bank of Louisville, Kentucky, the Merchants' National Bank of Louisville, Kentucky, the First National Bank of Ashland, Wisconsin, and the First National Bank of Platteville, Wisconsin.
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More Banks Resume. LOUISVILLE, KY., Aug. 31.-Two more suspended banks, the Louisville City National and the Merchants National, resumed business yesterday.
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Two Suspended Banks Resume. Louisville, Ky., Aug. 31.-Two more suspended banks, the Louisville City National and Merchants' National, resumed business yesterday.
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THE WORLD AT LARGE. Summary of the Daily News. WASHINGTON NOTES. REPRESENTATIVE GEARY, of California, author of the Chinese exclusion act, called on Secretary Gresham and urged him to enforce the law. Mr. Geary received very little satisfaction. SECRETARY HOKE SMITH has revoked the former ruling of the department, which held that ditches, canals and reservoirs for irrigating purposes cannot be located on unsurveyed public land. IN view of the present peaceful condition of affairs in Samoa Secretary Herbert will not send a naval vessel to Apia for some time to come to represent the interests of the United States in Samoa. SECRETARY CARLISLE does not approve the bill to permit extension of the time in which whisky may lie in bonded warehouses without incurring the penalty. He believes the matter is not of sufficient importance to justify special legislation. SECRETARY CARLISLE has recommended an immediate appropriation of $300,000 for continuing the coinage of fractional silver coin and one of $44,000 for distinctive paper for printing treasury notes. THE department of agriculture has received cable advices that the French government will admit American for age into France free of duty. THE treasury is paying out gold now. Its paper resources are exhausted because of heavy expenditures. JOHN QUINCY, assistant secretary of state, has resigned, in order that he may take charge of the democratic campaign in Massachusetts. YUNG Yu, the new Chinese ambassador to the United States, says there will be no retaliation for the Geary act until its provisions are actually enforced. THE following named banks, which recently suspended payment, have been permitted to reopen their doors for business: State national bank, of Vernon, Tex.: First national bank, of San Marcos, Tex.: First national bank, of Lockhart. Tex. A REPORT has gained circulation that the president has recently been operated on for cancer, but his friends say there is not a word of truth in it. THE senate has confirmed E. G. Spillman, West Virginia. register of the land office at Kingfisher, Ok. A fight was made against him because he was not a resident of Oklahoma, but he won. THE following national banks which recently suspended payment have been permitted to reopen their doors for business: German national bank, of Denver, Col.; State national bank. Denver; First national bank, of Canon City, Col.. Louisville City National bank, of Louisville; Merchants national bank, of Louisville: the First national bank, of Ashland, Wis.