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SIDNEY, OHIO BANK CLOSES ITS DOORS German American Institution Fails With a Shortage of More Than $250,000. Sydney, Ohio, Aug. 24.-The German American bank, the oldest financial institution in Sydney, was today placed in the hands of a receiver. The liabilities are $250,000 and the assets $200,000. Later, F. B. Reed, cashier, and John M. Wagner, president, made individual assignments.
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OHIO BANK GOES INTO A RECEIVER'S HANDS. SIDNEY. Ohio, Aug. 24.-The German American bank, one of the oldest financial institutions in Sydney, was today placed in the hands of a receiver. The liabilities are over $250,000 and its assets $200,000. Later. F. B. Reed. cashier, and John M. Wagner, president, made individual assignments.
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GERMAN-AMERICAN BANK IN HANDS OF RECEIVER. Sidney, O., Aug. 24.-On application of Cashier Frank E. Reed the German American bank, the oldest financial institution in Sidney, was today placed in the hands of a receiver. Reed stated in his application that the bank could not meet its obligations. The bank has a capital stock of $73,000; $250,000 are the estimated liabilities, and assets at $200,000. The opinion prevails here that the bank will pay creditors in full, many of the stockholders in partnership being wealthy men. Following the appointment of the receiver, Cashier Reed and President John H. Wagner made individual assignments. Later Peter Wagner, father of John H. Wagner, and a large stockholder, assigned.
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IN RECEIVER'S HANDS. German American Bank at Sidney, Ohio, in Trouble. Sydney, Ohio, Aug. 24.-On application of Cashier Frank S. Reed, the German American Bank, the oidest financial institution in Sydney, was, today, placed in the hands of a receiver. Reed stated in his petition that the bank could not meet its obligations. The bank has a capital stock of $73,000. Its liabilities are estimated at $250,000 and assets at $200,000. The opinion prevails that the bank will pay creditors in full, many of the stockholders in partnership being wealthy men. Following the appointment of the receiver Cashier Reed and President John H. Wagner made individual assignments. Later Peter Wagner, father of John H. Wagner and a large stockholder, assigned.
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THE WORLD'S NEWS THE WAR. EPORTS from Port Arthur via Chifu indicate that the Russians R hold the Japanese at bay. At Liaolitse, Itsheshan and Panlunshan the Russians have been forced from the fortifications, but still sweep these positions with artillery, preventing their occupation by the enemy. The fall of the fortress will follow the final of Itsheshan or from these points is capture artillery Laolitse, brought when to bear on Golden Hill and the city proper. The Japanese cruisers Nisshin and Kasuga are reported to have silenced forts at Taipangtse, two miles east of Golden Hill. By order of the Czar, the Russian flage have been lowered on the Askold and Grozovol at Shanghai. Both ships will disarm. POLITICAL Elihu Root announced, while at Sagamore Hill, that under no circumstances will be be the Republican candidate for Governor of New York. Judge Parker is working on his letter of acceptance, which will be made public about September 15. FOREIGN. Alexis Nicholaevitch, heir to the 1 throne of Russia, was christened in the chapel of the Peterhof Palace. The g Czar signalized the event by issuing a t manifesto granting exceptional privileges and immunities to the Russian, 1 Finnish and Jewish peoples. e As a result of the two years' dock e strike at Marseilles merchant ships are e being withdrawn from the Mediterranean. f Panic-stricken foreigners are leaving Asuncion under escort of the diplomatic corps. The belief is growing that y the government of Paraguay must yield t to the revolutionists. MISCELLANEOUS. Atotal of $144,712,787 was expended for pensions within the fiscal year ending June 30, 1904. The Postoffice Department has issued a fraud order against the Provident Mercantile Company, of Philadelphia. t Salvatore Bossoto, an Italian youth, n was shot dead in his father's restaurant in New York, supposedly by the e agent of an Italian secret society of banditti upon whom he had informed. Paymaster Dana White, of the O'Rourke Construction Company, New e York, was held up by an Italian highwayman near Little Falls, N. J., and robbed of $5112. Miners deported from Cripple Creek have sent a petition for intervention to n President Roosevelt. J. T. Laney, formerly receiving clerk ! for the Western Union Telegraph Comr pany at Dallas, Tex., was arrested, and confessed stealing $11,000 on false < telegrams. e The German-American Bank at Side ney, Ohio, was placed in a receiver's hands. Li Masked horsemen killed more than o 1000 thoroughbred sheep in Crook couny ty, Oregon. The financial embarrassment of Thomas E. Waggaman, treasurer of the Catholic University of America, is 3, attributed to unfortunate real estate ventures in Washington city. The Chicago court issued an injunction restraining the city from interfering with the lodging of non-union men employed in the stock yards packing houses. H. F. Page & Company announced their suspension on the New Orleans Cotton Exchange, and caused another wild market. John Redmond and a party of Irish Nationalist leaders arrived in New York to attend the Irish League convention.
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MUCH WORSE Is the Failure of the Sidney BankMrs. Linder Makes Assignment. Sidney, O., Aug. 26.-There has been very little information given out since the German American Bank went into the hands of a receiver yesterday morning to show the true condition of its affairs. Enough, however, developed today from reports from those having money on deposit in the bank to give evidence that the liabilities will be much larger than $200,000. The last report shows the resources of the bank as follows: Loans and discounts, $498,205.31; stocks, bonds and mortgages, $26,085.57; due from banks and bankers, $31,780.46; real estate, furniture and fixtures, $15,430.91; current expenses and taxes paid, $2,323.69; cash, $40,839.40. Total resources, $614.665.24. The liabilities, according to this report, were: Capital stock paid in, $73,500; surplus fund, $109,000; other undivided profits, $4,849.52; individual deposits, $427,315.72. Total liabilities, $614.665.24. This afternoon Mrs. Mary Linder, a stockholder in the bank, assigned to Joseph D. Anderson, of St. Mary's. John H. Wagner and F. D. Reed, the President and Cashier, respectively, of the bank, are still confined to their beds. Mr. Wagner is reported seriously ill this evening. This afternoon Judge Hoskins appointed J. B. Trimpe, C. F. Hickok and C. W. Fraser appraisers of the property of Peter and John Wagner, and A. Friedman, M. L. Heffelman and R. V. Jones appraisers of the property of F. D. and Mary Reed. A meeting of the members of the Sidney Commercial Club was held today and resolutions were passed deeply regretting the forced closing of the bank. It was resolved to do the utmost to preserve confidence in local business affairs. Faith was expressed in the integrity of John H. Wagner and the other officers of the bank and sympathy extended to them.
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The German-American Bank of I Sidney, 0., goes into a receiver's hands.
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Ohio Bank Fails. On application of Frank B. Reed, the cashier, the German-American Bank, the oldest financial institution in Sidney, O., was placed in the hands of a receiver. The bank has a capital stock of $73,000. The liabilities are estimated at $250,000 and the assets at $200,000.
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NEWS IN SHORT ORDEP. The Latest Happenings Condensed for Rapid Reading. Domestic, The Edward Hines Lumber Company, of Chicago, has purchased a timber tract of 50,000 acres in Mississippi. The sum involved is $1,000,000. In New York a second indictment was found charging Philip Weinseimer, president of the Building Trades Alliance, with extortion. A. A. White, of Baltimore, was among the speakers at the Convention of the National Association of Master Bakers, in St. Louis. Judge Julian Bennett, of Watertown, S. D., who weighed 440 pounds and who was known as the largest judge in America, is dead. Afred Davis, one of the oldest life guards at Atlantic City, was drowned while attempting to secure a bather, who was rescued. George J. Sicard, a former law partner of ex-President Grover Cleveland, is dead at Buffalo, aged 66 years. Four children were drowned in the Brazos River, near Acton, Tex., by the capsizing of a boat. Comptroller Edward M. Grout, whose gubernatorial aspirations have been nurtured by Senator Patrick H. McCarren, of Brooklyn, came out in the open as a candidate for the nomination for governor of New York. Mr. Robert B. Armstrong, assistant secretary of the Treasury, addressed the second'annual Convention of the American Institute of Bank Clerks, in session on the World's Fair grounds. Philip Weinseimer president of the Trades under indictment on the Building Alliance of New charge York He of extortion, pleaded not guilty. was released on $2,000 bonds. Legal proceedings are pending 28 who are against ple Creek, prominent Col., citizens accused kill of in Crip- the of conspiracy and assault to deportation cases. The United Garmentworkers, at their session in Buffalo, took up the case of Henry White, former general secretary, against whom charges have been preferred. d At Youngstown, O., pickets are e guarding the upper mill of the American Steel Hoop Company. Strikebreakers are, however, being admitted. Rev. Henry Baas, of London, Engd land, died suddenly at the Inside Inn, World's Fair grounds. Is The National Association of Master Bakers is holding its annual convention in St. Louis. The Connecticut tobacco crop is said d to be the largest for many years. Thirty-five people were injured in a trolley wreck near Rochester. A e train of two cars collided with a sinis gle car on the Rochester and Eastern e Railway. e A petition has been mailed to Presis dent Roosevelt asking him to interis vene in behalf of the men deported le from the Cripple Creek district. Salvatore Bossato was shot to death e by Carlo Rossati in New York because he disclosed to the police the secrets of the Black Hand. in Another fruitless effort has been in made by the Western railroads to bring about an adjustment of the sugar-rate complications. es Two strikes, affecting 9,000 men, g were declared against the plant of the Republic Iron and Steel Company, nt Pittsburg. d The cotton firm of H. F. Page 1Co., of New Orleans, failed and payn, ed much excitement on the fruction to m Four masked men*held d ct master of the O'Rourke editor I VCompany near Paters Lociate Courier, h Carlyle McKinle and hof died the after Charlestonness lot assistant city soliceHarry a and, O., was stabbed by by itor of Ch-law. n his fatNational Conference of the se Tkh-Day Adventists is in session SNortonville, Kan. The Texas Prohibitionists nominata ed W. D. Jackson for governor and full state ticket. John Redmond, the Irish leader, arrived in New York on the White Star liner Teutonic. hTe German-American Bank of Sidney, O., has been placed in the hands of a receiver. The annual movement of currency r to the West for crop-moving purposes has begun. Fire destroyed five four-story teneis ment houses in the Williamsburg secn tion of Brooklyn. Plans have been completed for an d. expedition to Egypt by several Princenton professors. Mrs. Florence Maybrick left New d aYork for Ellenville, in the Catskill ris Mountains. Fire in the glue factory of Armour n& Co., Chicago, caused a loss of $100, ne 000
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A Partial Report Made T. L. Robinson, W. H. Moreland and W. E. Kilbourne, appraisers in the case of the German American bank, made a partial report Thursday afternoon. They make a partial report of the assets of the bank and ask for an extension of time to make their detailed report. The report made shows: cash on hand and in banks $4,957.16, bonds $500. five pieces of real estate $34,700. notes and overdrafte, $200,877.66, total assets $241,634.82. A motion was also filed in the case that the receiver be authorized to insert notices in each of the weekly newspapers in Shelby county and a paper of general circulation in Cleveland and Cincinnati, notifying all parties holding claims against the German American bank to present them duly verified to the receiver for his allowance or rejection and that they present said claims within the next thirty days. On the motion for an extension of time to make a detailed report the appraisers were allowed an extension of ten days. The receiver this morning reported to the Court that the books of the bank are in such condition as to require an expert accountant to determine the assets and liabilities of the bank and its shareholders accurately and asks the Court to appoint an ex pert accountant.-Sidney Daily News.
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SPECIALS. Wapakoneta, O., Sept. 15.-A report that the Boesel Bank at New Bremen had lost $40,000 as a result of the failure of the German-American Bank at Sidney and that it was about to go under caused a iun to be made on the bank today. When the depositors went to the bank they found a pile of money awaiting them and the run was soon stopped. The Boesel bank is one of the strongest in this part of the country. Marysville, Ohio, Sept. 19-The assignment of ministers is causing much discussion. The Williams street church, Delaware, wants either Rev. C. R. Havighorst. of Findlay, or Rev. R. D. Hollington, of Kenton, but both will probably be returned to their old charges. The Marysville church wants Rev. A. E Smith, of Marion, and it is understood that he will leave the Conference if he is sent to Marysville. The Marysville church offers him $1,500. Kenton Epworth League church have a delegation here, who ask that Webster T. Stockstill be changed. He has been there seven years and as it is his first charge, they think he should be changed to reap a benefit of experience. It is said that this church would like to have Rev. Jesse Swank, of Bellefontaine, for pastor. Washington, September 18.-Pending an investigation of the case, State Department officials are disposed to treat as a fraudulent scheme to obtain money the information which press reports from Pasadena, Cal., state has come to a relative of Congressman McLachlan, of California, of the reported death of Louis Blaisdell in a Spanish hospital and the detention of his fourteen-year-old daughter in a convent at Arajuez. According to the views of the department officials, the reports bear the earmarks of a gang of imposters who have operated at various places in Spain for a long time and who have obtained sums of money from foreigners who have believed the representations made to them. The customary practice of these imposters is to report that a parent has died. leaving a confession with a priest and a young daughter in his charge, and the information is conveyed that a certain amount of money is required to obtain access to, or data concerning the location of a fortune which the decedent is alleged to have left to a supposed relative in a foreign country. The story is an old one to the department and they have constantly warned the public against being duped by this and similar schemes. The request of Mr. McLachan, acting in behalf of his relative, that an investigation of the facts in the case be made by the State Department, has not yet reached Washington, but as soon as it does it will be taken into consideration. Charles Humphreys, the foundry man, recently received a communication from the gang and turned the letter over to the authorities.
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To allow the filing of a bankruptcy petition the Federal Court at Cincinnati was opened after 9 Monday night. The petition filed is an echo of the sensational failure of the GermanAmerican Bank at Sidney, 0, August 24. Judge Van Deman, of Dayton, Ohio, filed the petition on behalf of Edward E. Burckhardt, executor; Morris M. Line and Lena Robertson, who were patrons_of the bank. They alleged that the liabilities of the bank amount to more than $700,000, while the assets will be less than $200,000. They also stated that the bank was a partnership concern, and asked that the copartners be declared bankrupts, that their assets might be used to pay the creditors. There are 28 partners in the bank. Those holding the largest interests were John H. Wagner, Anna M. Wagner, Peter Wagner, H. C. Wagner, F. D. Reed, J. E. Bush, Daniel Dickens, Mary Linder, B. C. Epler, William Shine and a number of others. Judge Thompson set the preliminary hearing for Friday morning, when the matter of appointing a receiver will be brought up. The failure of the bank created a sensation in Sidney and a large number of people in that locality sustained heavy losses. The partners own considerable property. The creditors will try to get possession of all of it to reimburse themselves.