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MANY BUSINESS FAILURES. Two Big Ones in Montreal-Westinghouse Applies the Air-Brakes. MONTREAL, Jan. 21.--The firm of Gilmour, Lindsay & Co. had two demands for assignment made upon them today. Their total liabilities are $225,000. McLachian Bros. & Co., whose troubles were noted a few days ago, have assigned, with liabilities of $800,000. NEW YORK, Jan. 21.-The Equitable Insurance Company, because of small capital affairs. and unprontable business, will wind up its The Mound City Distillery Company has secured in New York attachments for $1,291 against Bamberger & Keanpfer, wine dealers, San Francisco. The Suffolk National bank, of Boston, hold a note for $5,000 against Higgins & Co., Brooklyn, N. Y., soap makers. The bank learns that the company has transferred, hence an attachment has been sued out. PITTSBURG. Jan. 21.-A letter from London states that Westinghouse has received $250,000 for airbrake patents from a London company. He is also to receive $30,000 a year to cover any airbrake inventions he may produce. It is the expectation here that Westinghouse will now rescue his electric company, which is in sad financial straits. OMAHA, Jan. 21.-For some unknown cause a run was made on the South Omaha branch of the Nebraska Savings and Exchange bank this afternoon. The bank was kept open till a late hour to pay all the depositors in full. President Miles says the bank is fully prepared to meet every obligation. ATCHISON, Jan. 21.-The Cawker City state bank has failed and is in the hands of a receiver. The liabilities and assets cannot be ascertained. CHICAGO, Jan. 21.-George M. Bogue was this morning appointed receiver of the Pacitic Railway Company, of Los Angeles. Cal., on complaint by judgment creditors. The bill sets forth that the company, which was organized in 1889 by C. B. Holmes, a well-known cable road man, and other capitalists with a capital of $25,000,000, is insolvent. It is stated as probable that the company will shortly be reorganized. A confession of judgment the other day for $1,628 on a note executed January 6, to Edward W. Russell by C. B. Holmes, is said to be the entering wedge in that direction. The Pacific railway is a cable road operated by C. B. Holmes. its president. Thestockholders are mostly Chicago men. Over $1,000,000 was raised in this city alone. Instead of being a paying investment the road has lost money from the start, and now its indebtedness is said to reach $500,000. The trouble seems to be that the investment was too heavy for the amount of business to be done. The recent judgment is said to be the first move by the Chicago stockholders to put the Pacific railway on a new basis. It is, "in fact, a preconcerted movement on the part of the creditors to obtain other judgments and have the road placed in the hands of a receiver. It is the intention to completely reorganize the company. It is said that the road is now earning $350,000 a year net, and that by cutting down expenses and running it on close business principles it can be made to pay, or at least clear expenses. There is a side issue in connection with this matter. A corporation known as the National Railway Company met yesterday. It is one of C. B. Holmes' street car syndicates, and it seems that some of the stock of its St. Louis lines was transferred to the Los Angeles road. The stockholders were inclined to trake a row about it, until explanations were made and a 7 per cent. dividend declared. KANSAS/CITY, Jan. 21.-While the run on the Kansas City Safe Deposit and Savings bank was continued this morning, the indications were that the end is near.
