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A Lumber Firm Assigns. TOLEDO (O.), Nov. 28.-The lumber firm of Bills & Koch has assigned, with liabilities of $150,000 and assets of about $88,000. A dispatch from Tecumseh, Mich., says the banking firm of O. P. Bills & Co., the senior partner of which is interested in the lumber firm, closed its doors to-day. No statement was made, beyond that of the bank being all right.
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Business Troubles. TOLEDO, O., Nov. 28.-The lumber firm of Bills & Koch has assigned with liabilities of $150,000 and assets of about $88,000. A dispatch from Tecumseb, Mich., says the banking firm of O. P. Bills & Co., the senior partner of which is interested in the lumber firm, closed its doors teday. No statement was made beyond that of the bank being all right. TOLEDO, O., Nov. 28.-The lumber firm of Bills & Kock has failed. Assets, $130,000; liabilities, $130,000.
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Two Concerns Fall. TOLEDO, Ohio, Nov. 28.-The lumber firm of Bills & Koch hasassigned with liabilities of $150,000: assets about $68,000. A dispatch from Tecumseh. Mich., says the banking firm of O. P. Bills & Co., the senior partner of which is interested in the lumber firm. closed its doors to-day. No statement is made beyond that of the bank being all right.
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RUINED BY WHEAT. A Toledo Lumber Firm, With Michigan Connections, Makes an Assignment. Unfortunate Wheat Speculations Said to Be the Cause of the Failure. TOLEDO, O., Nov. 28.-The lumber firm of Bills & Koch has assigned its business to E. W. Loud, of Detroit, on a claim of $64,000 cash procured on accommodation paper. Other creditors have since filed claims, swelling the total liabilities to $150,000. The assets thus far are estimated at $88.000. Unfortunate wheat speculations on the part of the senior member of the firm is said to be the cause of the failure. Mr. Bills, the senior member, is also interested in a bank and lumber business with his brother-in-law, L. B. Church, at Alma and Ithaca. Mich., which is transacted under the firm name of Church, Bills & Co. It is stated that Mr. Bills has been unfortunate in wheat speculation. He has drawn from the business of Bitls & Koch within the last thirty days over $25,000 in cash. Some time ago this firm bought the planing mill plant from Whitney & Tracy, but recently sold it to Merrill, Ring & Co. for $9,000. The banking house of 0. P. Bills & Co., of Tecumseh, Mich., is seriously involved in the failure, and has closed its doors.
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IS A QUICK CRASH Chinch, Bills & Co. to Close Their Ithaca Bank. DUE TO THE OTHER FAILURE Mr. Bills is Said to Have Turned Over All His Property for the Benefit of His Creditors, ITHACA, Nov. 29.-Beaides their Toledo business, the Bills family are interested in no less than five banks in Michigan, including the one at Tecumsch. The suspension of 0. P. Bills & Co., at the latter town, seems likely to produce a distubance in financial affairg in this state which has been equaled by no business trouble in years. Church, Bills Co., bankers, of this place, failed to open their doors this morning. Cashier W. B. Scattergood says that he can give no statement at present further than that the failure of O. P. Bills & Co. has embarrassed them.
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A Michigan Bank Suspends. TECUMSEH, Mich., Nov. 29.-The doors of O. P. Bills & Co.'s bank remain closed, notwithstanding the assurance yesterday by Bills that he hoped to resume in a few hours. A considerable amount of school money and other public funds are said to be on deposit in the bank. ITHACA, Mich., Nov. 29.-Church, Bills & Co.'s bank closed this morning. The deposits amount to $30,000. It is not known to what extent the bank is involved with the failure of Bills & Co. and the Toledo Navigation Company.
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LIKE TWIN FAILURES. A Michigan Bank Closes After the Assignment of a Toledo Firm. TOLEDO. Ohio. Nov. 28.-The lumber firm of Bills & Koch has assigned its business to E. W. Lond of Detroit on a claim for $64 000 cash procured on accommodation paper. Other creditors have since filed claims swelling the total liabilities to $150,000. The assets are estimated at $88.000. Unfortunate wheat speculation on the part of the senior member of the firm is said to be the cause of the failure. TECUMSEH. Mich., Nov. 28.-The firm of O. P. Bills & Co., bankers. has its doors closed to-day. Mr. Bills with other gentlemen is locked in the bank building and refuses all requests for an interview as to why the bank failed to resume business. There is a rumor that some startling develop ments in connection with a Toledo man, with whom Mr. Bills is associated, has caused a temporary suspension pending an investigation into the bank's affairs.
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Failed to Open the Doors. DETROIT, Nov. 28.-A special to The News from Tecumseh says: The firm of O. P. Bills & Co., bankers, had its doors closed Monday morning. Mr. Bills with other gentlemen is locked in° the bank building and refuses all requests for an interview as to why the bank failed to resume business as usual Monday morning. There is a rumor that some startling developments in connection with a Toledo man, with whom Mr. Bills is associated, has caused a temporary suspension pending an investigation into the bank's affairs.