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OHIO BANK ASSIGNS CLEVELAND, Ohio, Jan. 10.-The Fuelld Avenue Trust and Savings Company assigned this morning to Frank Ginn. Boon after the assignment Ginn Issued . statement saying that the bank was molvent and would pay dollar for dollar: but the concern assigned because It was unable to realize on its securities and meet the unusual demands recently made upon It. When the last statement was issued the company had a surplus of $65,000.
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BUSINESS REVERSES Rice Malting Company, Near Chicago, Suspends-Cleveland Bank in Trouble. Chicago, Jan. 10.-The P. M. Rice Malting company, operating one of the largest plants in the world at Cragin, near here, was placed in the hands of the Equitable Trust company as receiver today. The liabilities are $100,000; assets $375,000. President Rice stated today that the receivership was due to the failure of the company's best customers, the Colonial Brewing company, of New York, and a distillery in Kentucky. Cleveland, Jan. 10.-The Euclid/Avenue Trust and Savings company made an assignment today to Attorney Frank H. Ginn. The latter's bond was fixed at a quarter of a million. Subsequently Ginn made a statement saying the directors state that no depositor will lose a dollar. The bank is solvent. Its present embarrassment arises from the fact that its patrons have been unable to meet their obligations with sufficient rapidity to take care of the unusual withdrawals.
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ANOTHER CLEVELAND FAILURE. Euclid Avenue Trust and Savings Company Closes Doors. CLEVELAND, Ohio, Jan. 10.-The Euclid Avenue Trust and Savings Company assigned this morning to Frank H. Ginn, with a bond of $250,000. The company in two days has reduced its liabilities from $2,200,000 to $1,400,000. Its book assets today are $2,000,000. It has a surplus of $100,000 and stockholders' stability of $500,000. The Euelid Avenue Savings Bank is a comparatively new bank.
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"Sympathy" Failure. Painesville, Jan. 11.-The People's bank of this city closed today on account of the suspension of the Euclid Avenue Trust & Savings company of Cleveland. Dr. H. C. Brainerd is vice president and G. H. Stewart a director of the local bank. A big run was expected on the bank this morning which It was thought it would be impossible to meet. The assignment was made to Harley Barnes, vice president of the Pierce Trust company of this city, No statement of assets and liabilities has yet been made. A statement issued by the bank October 1 last showed its total resources to be $230,640 capital stock paid in, $50,000; individual deposits, $173,640: undivided profits, $7,000.
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FAILURE ANOTHER BANK PEOPLE'S BANK OF PAINESVILLE, OHIO, CLOSED. Suspension Due to the Troubles of Euclid Avenue Company of Cleveland. PAINESVILLE, Ohio. January 11.-The People's Bank of this city closed its doors today, on account of the suspension of the Euclid Avenue Trust and Savings Company of Cleveland. Dr. H. C. Brainard is vice president and C. H. Stewart a director of the local bank. A big run was expected on the bank this morning, which it was thought would be impossible to meet. The assignment was made to Harley Barnes, vice president of the Pioneer Trust Company of this city. No statement of assets and liabilities has yet been made. A statement issued by the bank October 1 last showed its total resources to be $230,640; capital stock paid in, $50,000; individual deposits, $173,640; undivided profits, $7,000. G. G. Grant. one of the directors of the bank, made the following statement today: "There is no reason why the bank should not pay every dollar. This bank was run independent of the Cleveland bank, and its securities are independent. It is impossible to realize quickly on securities, on account of close connections, but we have less than $500 with the Cleveland bank." CLEVELAND, January 11.-President Brainerd has given out the following statement concerning the condition of the affairs of the Euclid Avenue Trust and Savings Company: "I am sure that the bank is in a solvent condition and that the depositors will not lose one penny which the bank holds in trust. The stringency in financial circles made it impossible for the bank to meet the heavy demands made on its commercial accounts. Among the large depositors were many small banks, which require large amounts of money at this time of the year. The deposits failed to keep pace with the withdrawals from this source, which by no means were abnormal, and the assignment was the result."
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INSOLVENT BANK IN CLEVELAND, 0. Following Upon Collapse of EverettMoore Syndicate. Cleveland, Ohio, Jan. 10.-The Euclid Avenue Trust and Savings company made an assignment today to Attorney Frank H. Ginn. The latter's bond was fixed at $250,000 by Judge Bloch of the insolvency court. Subsequently Mr. Ginn made the following written statement: "The directors of the bank decided to make an assignment for the benefit of all its creditors for the reason that the bank has been unable to realize upon its assets rapidly enough to meet the unusual demands which have been made upon it recently. The directors state that no depositor and no customer of the bank will lose a dollar, that the bank is solvent and that the present embarrassment arises from the fact that patrons have been unable to meet their obligations to the bank with sufflcient rapidity to take care of the unusual withdrawals. "The bank has liquidated during the past three months from about $2,200,000 to $1,400,000 deposits, and the assignee will merely continue the liquidation under the orders of the court." It is stated that the bank carried about $120,000 in securities of the Detroit & Toledo line, which recently passed into the hands of receivers. As a result of the financial embarrassment of the Everett-Moore syndicate, it is understood that the bank found it impossible to realize upon these securities.
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BANK CLOSED. People's Bank of Painesville, Ohio. Officials of Venezuela Fear Exploding Bombs. A Kentucky Ravisher Strung Up for His Deed. PARKER-HUGHES CASE DECIDED. Painesville, Ohio, Jan. 11.-The Peopie's Bank of this city closed today on account of the suspension of the Euclid Avenue Trust & Savings company, of Cleveland. A big run was expected on the bank this morning, which it was thought it would be impossible to meet. Assignment was made to Harley Barnes, vice president of the Pierce Trust company. No statement made of assets and liabinities. The statement issued by the bank on October 1 last showed tne total resources, $230,640; capital stock paid in, $50,000; individual deposits, $113,640; unaivided profits, $7,000. G.G. Grant, a director, made the following statement: "There is no reason why the bank should not pay every dollar. This bank was run independent of the Cleveland bank and its securities are independent."
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SANTA FE, N. M., SATURDAY, JANUARY 11, 1902. ANOTHER CLEVELAND DR. RICHARD ANTHONY NAVAL EXPERIMORMON COLONIES BANK CLOSES DOWN IS ACQUITTED MENT STATION IN MEXI The People's Bank Oloses Its Doors on AcHe Had Been Charged With High Treason Senator Hale Has Introduced a Bill count of the Suspension of the Euclid by the British at Capetown, Who AlExample of What Intelligent Pl Avenue Trust and Savings leged That He Had Extended to Follow the Example of Can Accomplish in the Aid to the Boers. Company. Germany. Arid Region. A BIG RUN HAD BEEN EXPECTED ANTHONY IS A CITIZEN OF ONLY $400,000 ASKED FOR THAT COULD NOT HAVE BEEN MET 5,000 MORMON SETTLE THE UNITED STATES Painesville, Ohio, Jan. 11.-The PeoThe Building Is to Be Part of the Naval Washington, Jan. 11.-A cablegram, They Have Planted Prosperous Colonie ple's Bank of this city closed today on received by the state department from Academy at Annapolis, Maryland-It the States of Chihuahua and Sonora account of the suspension of the EuUnited States Consul General Bingham Will Deal With Naval Engineering They Overcame Successfully clid Avenue Trust and Savings Comat Capetown, announced the acquittal Problems of Interest. pany of Cleveland. A big run was exGreat Obstacles. and release of Dr. Richard S. Anthony, who has been on trial there on the pected on the bank this morning, which Washington, Jan. 11.-At the instance it was thought it would be impossible charge of high treason and aiding the Dr. R. G. Lambert, who repres to meet. The assignment was made to of the navy department, Senator Hale enemy. Anthony is an American citithe Deseret News of Salt Lake, introduced a bill intended to carry out Harley Barnes, vice president of the zen, but lived for some time in South who stands high in Mormon coun Pierce Trust Company. No statement the long-cherished plan of naval englAmerica, where he married a Boer wospent yesterday in Santa Fe on his 1 was made of the assets and liabilities. neers, especially Engineer-in-Chief man. Mrs. Anthony is at present in to the Mormon colonies in Mexico f The statement issued by the bank on Melville, to provide a navy experimenChicago. where he will visit the colonies in I October 1 last, rebelved Total resources tal plant OF the first class, somewhat zona and New Mexico. The trip on the lines of the magnificent German $230,640; capital stock paid in $50,000; take him about two months and he naval experimental plant at Charlotindividual deposits $173,640; undivided promised to write the New Mexican OFFICIAL MATTERS. tenberg, which has been of such beneprofits $7,000. G. G. Grant, a director, interesting letter later descriptive made the following statement: "There fit to the German navy. The bill prothe Mormon settlements of Ramah POSTOFFICE ESTABLISHED vides for an appropriation of $400,000 is no reason why the bank should not Valencia county, and Fruitland, A new postoffice has been established pay every dollar. This bank was run for the construction of a building at Juan county, after his visit to th at Rountree, Guadalupe county, with independent of the Cleveland bank, and the naval academy at Annapolis and colonies. The work of the Mormons special service from Liberty. its securities are independent." its equipment, to deal with engineering Mexico was described to a New M min ROAD on
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BANK'S DOORS CLOSED. Painesville, Ohio, Institution Affected by Cleveland Failure. PAINESVILLE, Ohio, Jan. 11.-The People's Bank, here. of which Dr. H. C. Brainard, of the Euclid Avenue Bank, is vice president, and C. H. Stewart, director, made a general assignment this morning to Harley Barnes, vice president of the Pioneer Trust Company, for the protection of all its creditors. The action was brought about by the suspension of the Euclid Avenue Trust and Savings Company of Cleveland, which, it is understood, was the chief correspondent. It is not thought that this bank will be badly crippled, as it numbers ameng its stockholders the most stable business men of the town. The directors of the bank worked all night, and finally decided that the course taken was the best, as it would be impossible to stand a run at its time. The news of the Cleveland bank's suspension got to the depositors of the People's Bank last night. and a big run was anticipated this morning, Nothing sensational has developed this morning. "They'll get every dollar," is the expression of the bank people; twe are good for it."
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OHIO BANK ASSIGNS The Euclid Avenue Directors Say no Customer Will Lose a Dollar. (By the Associated Press.) Cleveland, Ohio, Jan. 10. .-The Euclid Avenue Trust and Savings Company, at 84 and 86 Euclid Avenue, made an assignment today to Attorney Frank H. Ginn. The latter's bond was fixed at $250,000 by Judge Bloch, of the Insolvency court The assignee stated that the bank "has been unable to realize upon its assets rapidly enough to meet the unusual demands, which have been made upon it recently. The directors state that no depositor and no customer of the bank will lose a dollar, and that the bank is solvent, and that its present embarrassment arises from the fact that its patrons have been unable to meet their obligations to the bank with sufficient rapidity to take care of the unusual withdrawals.' According to the last published statement of the bank, issued October 1st, 1901, the capital stock paid in amounted to $500,000; total resources $2,964,002, individual deposits $2,197,773; surplus funds $65,000. It is stated the bank carried about $120,000 in the securities of the Detroit and Toledo line, which recently passed into the hands of receivers. As a result of the financial embarrassment of the Everett-Moore Syndicate, it is understood that the bank found it impossible realize upon these securities.
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FOLLOWS THE EUCLID Painesville, Ohio, Bank Closes Its Doors Without Statement. Painesville, Qhio, Jan. 11.-The People's bank, of this city, closed its doors today on account of the suspension of the Euclid Avenue Trust and Savings company at Cleveland. No statement of assets or liabilities is given out.
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CLEVELAND COMPANY ASSIGNS. Euclid Avenue Trust in Trouble Because of Failure of Everett Moore Syndicate. Cleveland, Jan. 10.-The Euclid Avenue Trust and Savings Company, at 84 and 86 Euclid avenue, made an assignment to-day to Attorney Frank H. Ginn. The latter's bond was fixed at $250,000 by Judge Bloch of the Insolvency Court. The assignees stated that the bank "has been unable to realize upon its assets rapidly enough to meet the unusual demands which have been made upon it recently. The directors state that no depositor and no customer of the bank will lose a dollar and that the bank is solvent and that its present embarrassment arises from the fact that its patrons have been unable to meet their obligations to the bank with sufficient rapidity to take care of the unusual withdrawals." According to the last published statement of the bank, issued Occt. 1, 1901, the capital stock paid in amounted to $500,000; total resources, $2,964,002: individual deposits, $2,197,773; surplus fund, $65,000. It is stated the bank carried about $120,000 in the securities of the Detroit and Toledo Line, which recently passed in the hands of receivers. As a result of the financial embarrassment of the Everett-Moore syndicate, it is understood the bank found it impossible to realize upon these securities.
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CLEVELAND BANK IS FORCED INTO THE HANDS OF A RECEIVER Cleveland, O., Jan. 10.-The Euclid Avcapital stock paid in amounted to $500,000; total resources, $2,964,002; individual deenue Trust & Savings company made an posits, $2,191,773; surplus funds, $65,000. assignment today to Attorney Frank R. It is stated the bank carried about $120,Ginn. The latter's bond was fixed at 000 in the securities of the Detroit & To$250,000 by Judge Bloch of the insolvency ledo line, which recently passed into the court. hands of receivers. As a result of the Subsequently Mr. Ginn made the folfinancial embarrassment of the Everettlowing written statement: Moore syndicate It is unde tood the bank The directors of the bank decided to found it impossible to realize upon these make an assignment for the benefit securities. of all the creditors for the reason that the bank has been unable to realize upon its assets rapidly enough to Cleveland, O., Jan. 10.-United States meet the unusual demands which have Judge Wing today appointed Albion E. been made upon it recently. The diLang of Toledo receiver of the Lake rectors state that no depositor and no Shore & Electric Railway company, on customer of the bank will lose a dolapplication of Valentine, Clark & Co. lar, that the bank is solvent and that of Chicago. The Lake Shore Electric its present embarrassment arises from the fact that its patrons have been is one of the Everett-Moore roads. The unable to meet their obligations to the railway property has already been surbank with sufficient rapidity to take rendered to the receiver along with the care of the unusual heavy withdrawbooks and all the property of the comals. The bank has liquidated during the pany. Attorney Walker of the syndipast three months from $3,200,000 to $1,cate was in the court when the receiv400,000 deposits, and the assignee will ership was granted. He said that the merely continue the liquidation under uncompleted part of the system would the orders of the court, be rapidly completed. This action was FRANK H. GINN, (Signed) taken with the knowledge and acquiesAssignee. cence of the bankers' committee of According to the last published stateseven. ment of the bank, issued Oct. 1, 1901, the
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UNRAVELING A TANCLE EVERETT-MOORE COMMITTEE 15 OPTIMISTIC Bonds Will Be Sold to Satisfy Claims of Some Anxious CreditorsMoney for Workmen Is Not Available. CLEVELAND, Ohio, Jan. 10.-Regarding the situation in the affairs of the Everett-Moore syndicate the bankers' committee tonight stated that word had been received from Cincinnati assuring the committee of confidence in the outcome of the syndicate's affairs. The committee is in communication with a large number of miscellaneous creditors, many of which are yet to be heard from. A subcommittee has gone to look over the condition of the syndicate's traction companies. Which these were would not be disclosed. The main desire of the committee is to dispose of sufficient bonds to enable it to pay off a nmber of the smaller creditors, who are necessarily anxious. Mr. Newcomb, chairman of the bankers' committee, is authority for the statement that the Sandusky division of the Detroit & Toledo Short line had $40,000 on deposit in the Euclid Avenue Trust and Savings company, which went into the hands of a receiver today, and said that unless some other way of obtaining money was devised that the employes of that division to whom the money was to be paid for labor, would have to wait.
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Bank's Doors Closed. (By Associated Press.) PAINESVILLE, OHIO, Jan. 11.-The People's Bank of this city closed its doors to-day on account of the suspension of the Euclid Avenue Trust and Savings Company, of Cleveland. A statement issued October 10th last showed its resources to be $230,000; capital stock paid in, $50,000; individual deposits, $173,640; undivided profits, $7,000. G. G. Grant, one of the directors of the bank, made the following statement to-day: "There is no reason why the bank should not pay every dollar."
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AN OHIO BANK CLOSES. Directors Were Afraid of Run Because of Cleveland Failure. Painesville, O., Jan. 11.-The People's Bank of this city closed its doors today on account of the suspension of the Euclid Avenue Trust and Savings Company of Cleveland. Dr. H. C. Brainerd is vice president and C. H. Stewart director of the local bank. A big run was expected on the bank this morning, which it was thought would be impossible to meet. The assignment was made to Harley Barnes, vice president of the Pioneer Trust Company of this city. No statement of assets and liabilities has yet been made. A statement issued by the bank Oct. 1 last. showed its total resources to be $230,640; capital stock paid in, $50.000: individual deposits, $173,640; undivided profits, $7,000.
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CASHIER NOT AT HIS HOME. Euclid Trust Company Officer Seeks Rest. ADVISED BY FIRM'S ATTORNEY. Had Been Bearing Heavy Burdens of Responsibility for Some Time, It Is Asserted - Many Rumors Afloat in the City. CLEVELAND, Jan. 11.-C. H. Stewart, treasurer of the Euclid Avenue Trust and Savings Company, which assigned on Friday, has not been at the bank's office since Thursday evening. At his home, Kenilworth, on Euclid Heights, it was said that he was ill, and that Dr. Brainard, the president of the bank, was treating him. This the doctor emphatically denied, saying that he attended Stewart's wife. W. L. Rice, attorney for the Euclid Avenue Trust and Savings Company, said today: "Mr. Stewart is out of the city. I know where he is. He said he was ready to return to the city whenever I deemed it wise for him to do so." Thought Best to Leave. "Is it a fact, Mr. Rice, that Stewart left the city because of the bank failure?" he was asked. "Well, he left because he believed it would be best. It would have been very unpleasant to remain to face the criticisms and remarks of the people who say unkind things on such occasions. I have been in direct communication with him today, and he can be here in a day or two if I wish it. He would come tomorrow or the day after." "Has his absence any significance?" "None, other than I have stated, I thin .ot Told of Departure. K. E. Gill, one of the directors, had not been informed of Stewart's departure. "If it is true that Stewart has left the city, then I am very much surprised," said Gill. "I know of no reason for his going away, except that most of the fight for the last month has fallen on his shoulders. When the bank's doors closed he may have felt like getting away from people. "A man does not like to face people and answer questions at a time like that. Stewart is a great worker, and has had to shoulder most of the responsibility. I know of no other reason for his leaving the city." Many Rumors Afloat. All sorts of rumors are afloat regarding Stewart's sudden disappearance, and all that is definitely known is that he has disappeared. This bank assigned as the result of heavy withdrawals occasioned by the Everett-Moore syndicate trouble, these men having been stockholders. All the New York creditors of the Everett-Moore syndicate, It is said, have agreed to extend the time of payment on their claims eighteen months, and have
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NEWS IN OUTLINE. Jim Mays, a negro, attempted to rape a white girl near Springfield, Ky., and a mob hanged him in a high school yard. The People's Bank of Painesville, O., has closed in consequence of the suspension of the Euclid Avenue Trust and Savings company at Cleveland. All creditors will probably be paid. Articles of incorporation of the Omaha, Kansas and Gulf Railroad company have been filed with the secretary of state of Nebraska. Andrew Carnegie has offered the city of Columbus $150,000 for library purposes, provided, etc. The thirty-sixth annual convention of the Bricklayers' and Masons' International Union opened at Pittsburg today. Burglars entered the residence of Mrs. Everhard Fuller at New York and stole $6,000 worth of Jewels. Receiver of Taxes John Koellner, of New Rochelle, N. Y., is under arrest, having confessed a shortage of perhaps $7,000. Henry C. Payne, of Milwaukee, the new postmaster general, passed through Chicago Saturday on his way to assume his duties. Chicago teachers have started a new tax fight and declare they will defeat traction franchise extensions if dues are not fully paid. French national revenues for December show a deficit of $1,654,368, making a total for the year of $46,830,440. An international sporting tournament is being arranged in England to take place during the king's coronation festivities. Deputy Marshal J. N. Hollenback and his son were shot, and the former was killed, by alleged moonshiners Saturday near Martinsboro, Ala. Miss Helen Gould is at St. Louis, and nothing in the Dridge City is too good for her.
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NEWS OF THE DAY FROM THE FOUR QUARTERS OF THE WORLD. Comprehensive Review of the Important Happenings of the Past Week Presented in a Condensed Form Which Is Most Likely to Prove of Interest to Our Many Readers The Iowa legislature is in session. W. L. Eaton, of Osage, was elected speaker of the house. Tom Horn, the noted scout and Indian fighter, is in jail at Cheyenne, Wyo., on a charge of murder. One of the professors of anatomy at Ann Arbor has discovered that the soul is located in the spinal column. The president has decided on the nomination of George W. Biber as receiver of the land office at Oregon City, Ore. 2 According to La Presse, the battleship Eassena is outfitting at Brest to take President Loubet to St. Petersburg to return the visit of the Russian czar to France. King Oscar and the Swedish government have decided to present a bill to parliament permitting Iceland to have an independent ministry with headquarters at Reikiavik, its capital. It has been decided to present Admiral Schley a handsome gold and silver loving cup on the occasion of his visit to Knoxville, Tenn. At Yokohoma a report has been received from Seoul, Corea, to the effect that Russia, without awaiting Koere's permission, has pushed its telegraph line across the Toomen river into Korean 1 territory. The Euclid Avenne Trust and Savings Company, of Cleveland, O., has assigned. It is stated that improvements to be made on the Baltimore & Ohio system during the year will cost at least $50,000,000. New York, Chicago and Boston capitalists, includiug J. K. Morgan, have purchased a controlling interest in the Sovereign Bank of Canada; capital, $2,000,6 000. Pending an investigation which is now being instituted, Gen. Wood has suspended Miguel Gener, the mayor of Havana. Twenty-three councilmen of Havana have petitioned Gen. Wood to remove the mayor. Fire Monday morning destroyed a row of wooden business buildings at La Grande, Ore. Loss abont $14,000; insurance about half that sum. George Norris, editor of the Nanaimo, B. C., Free Fress, probably the oldest active newspaper man in British Columbia, died Monday afternoon, of congestion of the lungs. Private telegrams from Warsaw announce the death of Jean de Bloch, counsellor of state of Russia, political economist and railroad expert. A bill granting Mrs. McKinley franking privileges for all her correspondence has been favorably reported in the house. Similar privileges were bestowed on Mrs. Tyler, Mrs. Lincoln, Mrs. Grant, Mrs. Hayes, Mrs. Garfield and Mrs. Logan. News of the wrecking of the fishing schooner Ajax at Welcome pass and of the drowning of one of the owners named Henry Olson, has been brought 3 to Victoria by the steamer Native.
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NEWS IN BRIEF. Overflow From the Wires in a Condensed Form. Smallpox caused the closing of the Richview (III.) schools. Lerona Bell was scalded to death in a pail of water at South Bend, Ind. Ames Boyce, a pioneer of McHenry county, Ill., is dead, aged eighty years. Mrs. Nancy Taylor, aged fifty-six years, burned to death at Muncie, Ind. Suicide is alleged. The extradition treaty between Chile and the United States has been approved by congress. Admiral Schley held a public reception at Savannah, Ga., and received a delegation from Columbus, Ga., inviting him to visit that city. It has been decided to present Admiral Schley a handsome gold and silver loving cup on the occasion of his visit to Knoxville, Tenn., Feb. 5 and 6. The north half of the opera house block at Fayette, Mo.. including the opera house, was destroyed by fire, causing an aggregate loss of $80,000. Dr. Lapponi, the personal physician of the pope. is authority for the statement that the pontiff has not in years enjoyed such perfect health as at present. The People's Bank of Painesville, Ohio, has closed its doors on account of the suspension of the Euclid Avenue Trust and Savings Company of Cleveland. Herbert Reasoner and Fred Foorman, both members of leading families, were arrested at Muncie, Ind., and confessed to burglarizing the First Baptist church. James Burgess was killed and two companions injured by the explosion of a blast in the mines of the Webster County Coal and Land company at Lehigh, Iowa. Andrew Carnegie has offered the city of Columbus, Ohio, $150,000 for library purposes, provided a suitable site is furnished free and the council appropriates $20,000 annually for its maintenance. It is announced at Richmond, Ind., that, by gifts from Sarah Hollingsworth and Zachariah Stanley, late prominent Indianans, $40,000 have been added to the endowment of Earlham college. The discovery of oil in Texas in an entirely new field is said to have increased the wealth of Former Gov. Hogg over $8,000,000, he owning in fee simple 270 acres of land of the 400 acres composing the elevation on which the oil is found.