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Small Town; Small Bank. GLADSTONE, Mich., June 3.-The Exchange bank last night made an assignment for the benefit of creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton bank of Milwaukee, and the outcome depends entirely on the latter institution.
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Caused by the Plankinton Failure. GLADSTONE, MICH., June 3.-The Exchange Bank last night made an assignment for the benefit of its creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton Bank of Milwaukee, and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made.
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DAY ASSIGNS. The President of the Milwaukee Bank Wrecked Financially. MILWAUKEE. June 3.-Frederick T. Day president of the Plankington ban. this afternoon made a voluntary assik, ment to Willium H. Momsen, cashier of the band. Mr. Day's nominal assets are placed at $600,000, and his liabilities at $500,000. So far the examination of his assets has been only cursory, but it is believed that enough can be realized from his assets to meet all his debts. In doing this, however, his large private fortune will be utterly wrecked. Reckless banking methods were the cause of Mr. Day's failure. There was nothing new in banking circles here today other than a slight increase in the run on the Commercial bank. The run is without sensational features, and is due to the feeling of distrust engendered by the Lappen and Plandington bank failures. The people who are taking their money out are small depositors. Amoug business men the Commercial bank is considered sound, owing to the known conservatism of its officers. GLADSTONE, Mich., June 3.-The Exchange bank has made an assignment for the benefit of its creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton bank, of Milwaukee, and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made. JOLIET, III., June 3.-Sanger, Moody & Steele, stone quarrymen, assigned Liabilities, $54,330; assets, nominally $177,000, of which $85,000 is an old goverment debt, which they probably can never realize anything from. WASHINGTON, June 3.-Comptroller Eckels has instructed Bank Examiner Geary to take charge ot the failed Merchants' National Bank of Tacoma, Wash. CHICAGO, June 3.-The Grant Locomotive works IS being pressed by its creditors, and in order to provide ready .cash, has called a meeting of stockholders. The trouble was precipitated recent prevented by the the strike company from of machinists, making which deliveries on its contracts, and thus securing ready money. The establishment is solvent and the assets greatly exceed the liabilities. NEW YORK, June 3.-The steamship Campana, which sailed for Europe this morning, carried $1,000,000 gold coin and the steamship Paris had on board $500,000 gold coin and $828,172 of silver.
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Other Business Troubles. CHICAGO, June 3. - The Grant locomotive works is being pressed by some of its creditors, and in order to provide ready cash has called a meeting of stockholders. The trouble was precipitated by the recent strike of machinists. which prevented the company from making deliveries on its contracts and thus securing ready money. The establishment is solvent and the assets greatly exceed the liabilities. PHILADELPHIA, June 3. -Executions were issued this afternoon from Common Pleas Court in judgment entered against Clark Thomas & Co., furniture dealers, on judgment notes aggregating upwards of $100,000. Five executions were issued from the same tribunal against Philip Shafer. a furnitue dealer, on judgmentsaggregating $25,000. NEW YORK. June 3.-It has been figured out that there is due the public from the National Bank of Deposit $938,000, and that its assets are a little short of $1,100,000, which means that the stockholders of the bank will receive about 50 cents on the dollar. MILWAUKEE, June S.-At 4:30 this afternoon F. T. Day, president of the Plankinton Bank, made an assignment to W. H. Momsen, cashier of the defunct bank. The assignee's bond is fixed at $800,000, which represents the amount of the assets. GLADSTONE, Mich., June 3. -The Exchange Bank has made an assignment for the benefit of its creditors and has closed its doors. The suspension was caused by the failure of the Plankinton Bank, of Milwaukee. JOLIET, III., June 3.-Sanger, Mooday & Steel, stone quarrymen. made an assignment to-day. Liabilities, $54,330: assets nominally $177,000. of which $85,000 is an old government debt that is probably valueless.
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PRICE THREE CENTS ed, have taken fright at the Plankinton Bank failure, and have disregarded the causes of that failure, which the business men represent to be only the careless and foolhardy speculations of one man. The Commercial and the Second Ward Banks were crowded to-day with depositors in the savings departments, who are giving notice in order that at the end of the thirty or sixty days, which ever it is, according to the law in their case, they will withdraw their savings. The officials of both institutions, however, feel no alarm. Defunct Bank Cashier Imprisoned. OMAHA, NEB., June 3.-Cashier Ezra D. Higgins, of the defunct First National Bank, of Ponca, Neb., was imprisoned here yesterday on the indictment charging him with complicity in the wreckage of the bank. The president, Dorsey, has not yet been arrested. Other Failures. GLADSTONE, MICH., June 3.-The Exchange Bank last night made an assignment for the benefit of its creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton Bank, of Milwaukee, and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made.
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A MICHIGAN BANK CLOSED. Gladstone, Mich., June 3.-The Exchange Bank last night made an assignment for the benefit of its creditors and has closed its doors. The suspension is caused by the failure of the Plankinton Bank of Milwaukee, and the outcome depends entirely on the latter institution. RUNS ON MILWAUKEE BANKS. Savings Department Depositors Take a Foolish Fright. Milwaukee, Wis., June 3.-Runs were made to-day, as yesterday, on practically all the banks in the city. In greater or lesser degree small savings depositors, always timid and easily alarmed, have taken fright at the Plankinton Bank failure and have disregarded the cause of that failure, which business men represent to be only the careless and foolhardy speculations of one man. The commercial and savings departments are requiring notice of depositors that at the end of thirty or sixty days, whichever it is according to law in their case, they will withdraw their savings. The officials of both institutions, however, feel no alarm.
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PRIVATE BANKERS FAIL. The Firm Considered One of the Best of Its Class in the Country. Chicago, June 3.-Herman Schaffner & Co., private bankers at No. 100 Washington street, made an assignment in the county court this morning. Nostatement of the affairs of the bank was filed with the application for a receiver. It is stated that the creditors of the bank will lose nothing. Attorney Levy Mayer, representing the assignée, stated this morning that, even in the event of forced liquidation, there will be enough money to meet all liabilities. The firm was considered one of the most solid private banks in the country. It did a small deposit and brokerage business, and its greatest business was commercial brokerage business with banks all over the country. In the regular course of its business the bank sold commercial paper without indorsing it, and also without any liability. Most of the paper was bought on the strength of the mercantile houses by which it was indorsed. THE SENIOR PARTNER DISAPPEARS. The assignment was undoubtedly caused by the disappearance of Hermann Schaeffner, senior member of the firm, of which the other member is A. T. Becker. Yesterday noon Schaeffner left his coat in the office and stated to his partner that he was going out on an errand. Since then nothing has been heard or seen of him. He has not been at his home at No. 3217 Wabash avenue, and the police have made vain efforts to discover his whereabouts. This fact started a rumor on the board of trade this morning that he had committed suicide. The worst is feared by his friends and business associates. Mr. Schaeffner's partner was too much moved over the disappearance of his associate last night and he became ill, and to-day he is at home suffering from depression, and so ill that he is confined to his bed. The bank has been in trouble for several days and imponding disaster appeared to have a most distressing effect upon Schaeffner. No statement of the assets and liabilities has been made, or is possible until the assignee goes over the books. A meeting of those interested in the bank will be held on Monday or Tuesday next to see about resuming business. A MICHIGAN BANK CLOSED. Gladstone, Mich., June 3.-The Exchange Bank last night made an assignment for the benefit of its creditors and has closed its doors. The suspension is caused by the failure of the Plankinton Bank of Milwaukee, and the outcome depends entirely on the latter institution.
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Bank Failure. By Southern Associated Press. GLADSTONE, Mich., June 3 - -The Exchange Bank last night made an assignment for the benefit of its creditors and has closed its doors. The suspension was caused by the failure of the Plankinton Bank of Milwaukee, and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made.
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of the thirty or sixty days they may withdraw their savings. The officials of both institutions. however. feel no alarm. President Geilfuss said at noon that none of the mercantile fraternity had withdrawn any deposits, and that the run differed in nowise from the movement yesterday. The bankers of the city see no cause for alarm. and feel that the temporary fears of which the small der ositors are at present possessed will soon pass away. GLADSTONE. Mich., June - The Exchange Bank last night made an assignment for the benefit of its creditors, and has closed its doors. The suspension was caused by the failure of the Plankinton Bank of Milwaukee. and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made. INDIANAPOLI. June 3. -Receiver Johnson of the defunct Greenwood Bank has Instituted suit in the Johnson Circuit Court against J. M. Starbuck. OX-Gov. Chase. and all others connected with the management of the bank. He has also advertised the furniture of the bank for sale. and with the proceeds and the cash on hand the receiver expects to declare a first dividend of 25 per cent. early in July.
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On Account of the Plankinton. GLADSTONE, Mich., June 5.-The Exchange bank has closed its doors. The suspension was caused by the failure of the Plankinton bank of Milwaukee, and he outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made.
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Michigan Bank Closes. GLADSTONE, Mich., June 3.-The Exchange bank has made an assignment for the benefit of its creditors and has closed its doors. The suspension was caused by the failure of the Plankinton bank of Milwaukee and the outcome depends entirely on the latter institution. No statement of the bank's condition has yet been made.
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FAILLITES DE BANQUES L "Exchange Bank" de Glad stone, Mich., a fait faillite. C'est une conséquence de la faillite d6 la "Plankinton BaLk" de Mi'waukee. MM, SAuger, Moody et Steel de Jolliet, Ill., ont fait faillite. La "Patt r's Bak" one des plus vieilles banques du comté de Paulding, Ohio, viont de fermer ses portes. Elle avait été établie en 1874 et faisait des affairea considérables. MM Ch-vraton, Martin et Cie banquiers avenue Ogden à Chra go viennent de déposer leur bilan Passif 100.000 dollare. Lq "Merchants National Bank," la plus vieille de Tacoma, Wash., a suspendu BEB paremente. Son capital était de $250,000. La Plankin'on Bai k" de Mil waukee, a fait failli'e. MM. Hermann, Schaffner et Cie banquiers de Chicago ont déposé leur bilan On dit que Schaffner B'est suicidé. La "Bank of Beresford," S. D vient de fermer ses portes. A sa tête se trouvait A. A. Amee. La "Sandusky Savings Bank Company" de S ndueky O. a suspendu 803 paiements. La "M rchants National Bank" de Fort Wo th Texas, à fermé ses portes. La "Canyon Bank" de Spokane à fait faillite. -MM. Madowaraft frères, banquiers de Chicago, ont déposé leur bilan. A Milwaukee la "South Side Savinga Bauk" et la "Second Ward Bank" sont sur le point de suivre l'exemple d - 8 banques BUB nommée3. Il en est de meme de la "Illinois Trust & Savings Bank of Chica go."
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CLOSED ITS DOORS. Gladstone. Mich. June 5.-The Exchange bank has made an assignment. The suspension was caused by the failure of the Plankinton Bank of Milwaukee, and the outcome depends entirely on the latter institution.