8d7e9db9Accommodated withdrawals, Full suspension, Books examined
Other: Assignments to cashier (deed of assignment) and invoking 60-day notice by savings banks.
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THREE MORE BANKS GONE TO PIECES St. Paul Is the Scene of the Crash This Time. ALL STATE CONCERNS GERMANIA, ALLEMANNIA AND WEST SIDE. Each of the Three Claim to Be Solvent and Promise to Meet All Their Obligations Dollar For DollarFailure of the Bank of Minnesota Caused a Panicky Feeling and the Panicky Feeling Did the Rest -Financial Notes.
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RUNS ON ST. PAUL BANKS FORCE THREE TO THE WALL. WERE CLOSELY ASSOCIATED. TWO OF THEM MAKE ASSIGNMENTS TO THEIR CASHIERS. One in Hands of State Bank Examiner -Attorney General Will Test the Right of the Others to Assign-Devil's Lake, N. D., Failure. St. Paul, Minn., Jan. 4.-As a direct result of the closing of the Bank of Minnesota, two weeks ago, which created new distrust among the banks depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions and all closely associated, to-day closed their doors, one being in the hands of the state bank examiner and the others making assignments. During the time that has intervened since the closing of the Bank of Minnesota, the Germania bank paid out $225,000 to frightened depositors and early to-day the directors concluded that they would stop the drain and make an assignment to the cashier, Peter M. Keerst. The Allemania bank, which, like the Germania. had a large clientage among the Germans and whose vice president had formerly been president of the Germania, then became the target for as lively a run as could be seen during panic times anywhere. People crowded about the doors and fairly fought for a place in the line before the paying teller's window. The bank officials realized fully what such a run meant, and promptly called on Bank Examiner Kenyon to take possession of the bank and that official is now in charge. The West Side bank, a small but possibly stronger bank, cleared through the Allemania,and to-day its clearings were returned by the latter institution. Following this, there was a decided run inaugurated on the bank, and at 2 o'clock this afternoon the bank officials closed the doors and called a meeting of the directors to decide what action to take. Their decision was apparent late in the afternoon, when they filed a deed of assignment to Cashier S. Staples, the president of the bank. Considerable public money is tied up in the three institutions, but there is an ample supply for all immediate needs in the other banks of the city. The assignment of the Germania and West Side banks has brought up a somewhat new question in the banking laws of this state, and the courts will be called on to settle it. The state bank examiner doubts their rights to assign, holding that they should have, under the law. turned over their assets to him. The attorney general intimates that he will bring action to test the matter as soon as the papers can be prepared. During the day numerous reports of trouble among the other banks were current, and a few banks suffered runs of greater or lesser intensity, but the savings banks were protected by the law that allows them to require sixty days' notice before paying out deposits. and the national banks are in strong condition and have no fear of anything of the sort. The last officialestateent of the condition of the Germania bank, made December 17. showed the total resources to be $1,625788.01, and the liabilities $1,166,988.74. The official statement of the Allemania bank, made December 17, showed the total resources $1,061,009.97; liabilities, $602,245.37. Devil's Lake, N. D., Jan. 4.-The Merchants' National bank closed its doors today, pending action of the comptroller of the currency. The bank was organized in 1887 with a $50,000 capital. Two or three years later F. Ashley Mears bought the controlling interest and increased the capital to $100,000. In 1892, when Mears' string of banks and concerns went down the af-
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THREE HREE ST. PAUL BANKS FAIL. All the Failures Tracable to the Closing of the Bank of Minnesota. The Germania, the First the Close Yesterday, was Capitalized at $400,000, and Had a Reserve of $58,797.27- On December 17, the Last Statement was Made, and it Showed the Bank in Good Condition. Changes in the Management of the Bank Given as the Reason for a Run that Swamped the Institution-The Other Two Followed on Account of Runs, Started by the Germania's Trouble.
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Three More St. Paul Banks Close. ST. PAUL, Jan. 5.-As a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among bank depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions and all closely associated, yesterday closed their doors, one being now in, the hands of the state bank examiner and the others making assignments Bank Examiner Kenyon is in charge of the Allemania.
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THREE BANKS HAVE CLOSED In St. Paul as a Result of Failure of the Bank of Minnesota. e / THE FRIGHTENED DEPOSITORS e : I Make a Lively Run for Their Money and Cause a Panic-Fight Each Other in the Lines. I I r St. Paul, January 4.-As a direct re: sult of the closing of the Bank of Minnesota two weeks ago, which created new distrust among depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul r banks, the Germania, the Allemania a and the West Side, one of them nae tional institutions, all closely associat: ed, closed their doors today, one being in the hands of the state bank examiner e : and the others making assignments. . During the time that has intervened since the closing of the Bank of Minne e : sota, the Germania paid out $225,000 to i frightened depositors and early today i the directors concluded they would stop the drain and make an assignment to the cashier, Peter M. Kerst. The Allemania Bank, which like the Germania, had a large clientage among the Germans, and whose vice-president had formerly been president of the Germania, then became a target for a lively run. People crowded about the doors and fairly fought for a place in the line before the paying teller's window. The bank officials realized fully what such a run meant and promptly called on the bank examiner to take possession of the bank, and that official is now in charge. The West Side Bank, a small but possibly stronger bank, cleared through the Allemania and today its clearings were returned by the latter institution. Following this there was a decired run inaugurated on the bank and at 2 o'clock this afternoon the bank offlcials closed the doors and called a meeting of the directors to decide what action to take. Their decision was apparent late in the afternoon when they filed a deed of assignment to Cashier Staples, president of the bank. Considerable public money is tied up in the three institutions. Owing to the excitement caused by the closing of the Germania and Allemania Banks today, many depositors went after their money at one or two other banks, the Minnesota Savings Bank being the center of excitement. President William Bickel, Jr., is a son of the first vice-president of the Allemania. This bank was open for business but at 3 o'clock was taking advantage of the rule allowing sixty days' notice before allowing withdrawals of deposits. A few minutes before 2 o'clock the West Side Bank, organized in 1886, with a capital of $100,000, closed.
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THREE MORE BANKS GONE TO PIECES St. Paul Is the Scene of the Crash This Time. ALL STATE CONCERNS GERMANIA, ALLEMANNIA AND WEST SIDE. Each of the Three Claim to Be Solvent and Promise to Meet All Their Obligations Dollar For DollarFailure of the Bank of Minnesota Caused a Panicky Feeling and the Panicky Feeling Did the Rest -Financial Notes.
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Three More St. Paul Banks Close. ST. PAUL, Jan. 5.-As a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among bank depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions and all closely associated, yesterday closed their doors, one being now in the hands of the state bank examiner and the others making assignments. Bank Examiner Kenyon is in charge of the Allemania.
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FIELD, SCHLICK & CO. 217.24 Due from sundry banks employes were discussing the mattter of Receiver's account (cash on hand) 16,617.17 whether the ghost would walk for December salaries on Jan. 15. City Treasurer Horst, Total $145,499.79 however, says there is still enough on hand Liabilitiesto make good the pay rolls for last month. Capital stock $25,000.00 The amounts belonging to the city in the 300.00 Surplus banks that suspended yesterday are as follows: Allemannia 88,209.50 Deposits subject to check $104,793.82 Germania 1,948.50 Demand certificates of deposit 49,793.82 West Side 24,132.06 Time certificates of deposit 21,894.50 Certified checks 1,263.26 Total 4,626.45 Undivided profits $176,144.88
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SAVINGS BANKS SAFE. Protect All Depositors by Requiring Withdrawal Notices. The suspension of the Germania and Allemannia banks caused something of a run, as it is always the case, on the savings banks. It is a needless alarm. At the State Savings Bank of St. Paul those desiring their money were allowed to draw until after 3 o'clock, the close of banking hours. The board of trustees then held a meeting and passed the following resolution: Resolved, That the state of public feeling is such that the board of trustees of the State Savings bank of St. Paul deems it expedient and in the true interests of the depositors of the bank to and it does hereby require the sixty and ninety days' notice of withdrawals of deposits provided in section 24 of the bylaws. The Savings Bank of St. Paul, at Sixth and Cedar streets, paid all depositors until 2 o'clock, but while the institution is in shape to stand a run, the bank officials thought it wise to take advantage of the sixty and ninety days' clause of the by-laws, and informed depositors that the notice of withdrawals would have to be given. The Minnesota Savings bank at Seventh and Wabasha streets, also served depositors with the same notice. The officers of each of the three institutions, said there was no need of alarm on the part of depositors, but in the state of the public feeling, it was thought wise, if not necessary, to require the notice to be given.
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WEAK BANKS CLOSE THREE OF THE SMALLER INSTITUTIONS OF ST. PAUL SHUT THEIR DOORS, ONE GOES, OTHERS FOLLOW. AND ALLEMANNIA GERMANIA, WEST SIDE SUSPEND IN THAT ORDER. COULDN'T STAND WITHDRAWALS. Maurice Auerbach Appointed Receiver of the Allemannia-The Others Assign. St. Paul banks were put to the test yesterday. Three comparatively unimportant ones went to the wall. The others were impregnable. In fact, public confidence was shown in all the others by the fact that a larger number of deposits than usual were made in those institutions. Of the three that failed, two were understood to be under a strain really before the opening of business today, one carrying the other down; the third was embarrassed by one of the others, and was caught in the maelstrom. The Germania bank, whose condition has been common gossip for about two weeks, did not open its doors yesterday at all. One hour before the usual banking hour, there was filed in the office of Clerk of the Court Rogers a deed of assignment to Peter M. Kerst, who has been the cashier of the bank. When 10 o'clock came and the doors of the Germania were not opened to the bank customers, the news spread like wild fire. The expected had happened. The Allemannia bank was soon in the throes of a lively "run." The morning deposits were not coming in, and it became apparent that the contest was an unequal one. The officers of the bank decided to protect their depositors by suspending payment, so that all would be on an equal footing. The savings banks were afterwards drawn upon by depositors to such an extent that most of them claimed the 60 days' notice for savings deposits, which the law allows them, and the other savings banks will do so today. About noon the West side bank succumbed to the pressure. This bank cleared through the Allemannia and its suspension was due directly to the going down of the Allemannia. The other banks, as told heretofore, took care of their customers all day, with the exception of the precautions taken by the savings banks to protect their depositors. Reassuring advices were received from Chicago and New York last night after the close of business, and there will be no dearth of money today with which to pay off any claims, even if they are presented, which is considered unlikely. Bankers last night agreed that there was no possibility of any more local banks suspending. In fact, a large number of the depositors in the banks from which withdrawals were made yesterday. hurried to the other banks of the city to re-entrust their savings.
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BUSINESS TROUBLES. Frightened Depositors Force St. Paul Banks to Close, ST. PAUL, Jan. 4-As a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among depositors and started runs on a number of city banks that were reputed to be as strong as the depositors wished, three St. Paul banks. the Germania, the Allemania and the West Side, none of them national institutions, all closely associated. closed their doors today. one being in the hands of the state bank examiner and the others making assignments. During the time that had latervened since the closing of the Bank of Minnesota, the Germania paid out $225,000 to frightened depositors, and early today the directors concluded they would stop the drain and make an assignment to the cashier. Peter M. Kerst. The Allemania bank. which, like the Germania, had a large clientage among the Germans, and whose vice president had formerly been president of the Germania, then became the target for a lively run. People crowded, about the doors and fairly fought for a place in the
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# NO CAUSE FOR ALARM. As far as the closing of three comparatively small banks in this city yesterday is concerned, it is a reason for confidence in the future rather than for alarm. There is not the slightest foundation for the senseless agitation that exhibited itself in the minds of a few of our people; and we hope, both for the credit and the prosperity of the city, that there will be no more of it. The facts are perfectly evident on their fact, and there is no reason to conceal, deny, distort or misrepresent them. The closing of the Bank of Minnesota, together with recent bank failures in Minneapolis, had filled the public mind with apprehensions that were groundless. These were the cause of wild rumors without foundation, and of an alarm that the events themselves could not have created. The failures yesterday would not, but for these preceding events, have caused a ripple on the surface. It is utterly absurd that they should be regarded now as serious. That the business of the Germania has for some time been unsatisfactory was a matter of general knowledge. The same has been true lately of the Allemannia; a fact which was brought sharply to the public notice rather than relieved by heavy deposits of public moneys. In ordinary times, neither of these institutions would have experienced difficulty in weathering the storm. But with the distrust created by other failures, withdrawals became frequent and deposits fell off. To this there is but one end in the banking business; just as the cessation of purchases will speedily end the career of any merchant. The West Side bank is a small institution, apparently perfectly solvent, which had to yield to the accident that it cleared through the Allemannia. This formal connection required its suspension to protect its own interests. And this is all that there is of the little flurry yesterday. We cannot reprehend too strongly the folly of those who began to draw their deposits out of the vaults of other banks. It is not only without reason, it is suicidal. The depositors can break any bank in the world if they all demand their money. No such institution keeps or can keep enough cash on hand to pay all depositors on demand. The savings banks, which are above reproach, have very properly taken advantage of the law requiring sixty days' notice before deposits can be withdrawn. Although amply able to meet every demand upon them, the sight of people taking out their funds has an alarming effect upon the minds of those who know nothing of the circumstances. As to the other banks, they are as proof against attack as any other in the country. The statement which we print from the comptroller of the currency at Washington shows the senselessness of wild rumors that find credence in such times. Nowhere are the national banks better fortified. And those that are still doing business under the state law are impregnable. The fact is that every weak banking institution has been weeded out, and some that are able to pay in full have been foreed to suspend. Now the thing to do is for the people to understand that all that are left are secure against any attack, and to realize that their money is safer where it now is than it would be in their own hands. We assure every reader that there exists no longer the least cause for disturbance or doubt in any quarter; that the storm has wholly passed; and that the man who draws any money out of any institution hereafter, except for legitimate needs and business purposes, is guilty not only of outrageous folly, but of a crime against the interests of St. Paul, and especially against his own. "A BURLY HATRED OF CANT." The death of Joseph McCullagh, the virile editor of the St. Louis Globe.
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More Minnesota Bank Failures. ST. PAUL, Jan. 5.-As a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among bank depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions and all closely associated, have closed their doors, one being now in the hands of the state bank examiner and the others having made assignments.
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THREE BANKS SUSPEND. Bank Examiner at St. Paul Kept Exceedingly Busy These Days. Cashier Cornelius of the Farmers' Bank of Baltimore Suicides. ACCOUNTS WERE $60,000 SHORT. He Had Been Very Prominent as a Local Preacher-His Dead Body Was Found In a Pond. St. Paul, Jan. 5.-As a direct, result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among bank depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions, and all closely associated, yesterday closed their doors, one being now in the hands of the state examiner and the others making assignments. During the time that has intervened since the closing of the Bank of Minnesota the Germania bank paid out $225,000 to frightened depositors, and early yesterday the directors concluded that they would stop the drain and made an assignment to the cashier, Peter M. Korst. The Allemania bank, which, like the Germania, had a large clientage among the Germans, and whose vice president had formerly been president of the Germania, then became the target for as lively a run as could be seen I during panic times anywhere. People crowded about the doors and fairly fought for a place in the line before the paying teller's window, The bank officials realized fully what such a run meant, and promptly called on Bank Examiner Kenyon to take possession 1 of the bank, and that official is now in charge. The West Side bank was small, but tuh the
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CAUGHT IN ALL THREE. / State, City and County Had Money In St. Paul Banks. ST. PAUL, Jan. 5.-The public school funds were on deposit in all three banks that closed on yesterday. The state had $10,456 in the Germania, $35,302 in the Allemania and $3646 in the West Side bank. The county treasurer had deposited $9633 in the Germania, $26,215 in the Allemania and $7564 in the West Side bank. City Treasurer Horst had on deposit city funds in the Germania $49,793, in the Allemania, $151,456 and in the West Side $21,894. The West Side bank has not closed finally, but in view of the panic create. by the sudden closing of the Germania and the Allemania, and because of the summary return by the latter of the West Side bank clearings, it was decided to close pending action by the bank's directors.
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More Minnesota Bank Failures, ST. PAUL, Jan. 5.-As a direct result of the closing of the Bank of M innesota two weeks ago, which created new distrust among bank depositors and started runs on a number of city banks that were reputed not to be as strong as depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institationsand all closely associated. have closed their doors, one being now in the hands of the state bank examiner and the others having made assignments.
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Three St. Paul Banks Go Under. ST. Paul, Minn., Jan. 5.-As a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among the banks, depositors started runs on a number of city banks yesterday that were reputed not to be as strong as depositors wished. Three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions and all closely associated, were forced to close their doors. They are in the hands of the state bank examiner
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BRIEF NEWS. Ottawa, Canada, was visited by an earthquake Saturday morning. No serious damage has been reported, but the shock was distinctly felt all over the city. Dr. Rizal, the leader of the Philippine revolution, was shot at Manilla, in the Philippine Islands, Dec. 30, in the presence of an immense crowd. He was first sentenced under Gen. Polavieja's new policy of vigorous repression and summary earrying out of sentences. Gen. Polavieja absented himself during the execution. Great precautions were taken to prevent a popular demonstration. On his trial by court-martial Dr. Rizal admitted that he was the author of the constitution of the Philippine League, the object of which was revolutionary, but denied that he had taken any active part in the rebellion. Edward J. Ivory, of New York City, now under arrest in London on the charge of planning dynamite explosions during the recent visit of the Czar to England, will be defended by John F. McIntyre, who has resigned the office of Assistant District Attorney of New York and sailed for London. Gen. Weyler may be removed from command of the Spanish army in Cuba. It is asserted in Madrid that a decision has been reached to recall him, but that the Premier, Senor Canovas del Castillo, has suspended the order. The enthusiastic reception that Cecil Rhodes is receiving in Cape Colony is looked upon by Trausvaal officials in the light of an insult. A significant speech was made New Year's day by Judge Jorrisen, on the occasion of wellwishers calling upon President Kruger. Rhodes was classed as a highwayman. The war correspondent of La Tucha, of Havana, has interviewed Weyler, whose column he joined at San Cristobal. The Captain-General declares that the revolution in Pinar del Rio is suppressed, and that not over 500 rebels are now in that Province. These, he thinks, will soon surrender, or die of disease and hunger. The statement published by a Boston paper that Gen. Gomez receives a salary of $100,000 a year as Commander-in-Chief of the Cuban army is denounced by Gonzalo de Queseda, Charge d' Affairs de la Republique de Cuba, at Washington, who says that the brave commander fight for glory alone. A terrible state of affairs is reported in the labor market of Nicaragua. Hundreds of men, women, and children are held in virtual slavery. These people have sold their labor for small sums of money advanced them, and are now endeavoring, by every means except an armed revolution, to escape from the servitude incident to the sale, authorized by the Constitution of Nicaragua, and vigorously enforced by military power until the money or goods advanced, interest thereon and heavy fines, have been paid in full by labor at low rates Henry Delgado, the correspondent of the N. Y. Mail and Express, who is held by the Spanish as a political prisoner, is now confined to the hospital at San Ambrosco, suffering from an abscess. He will likely die unless permission can be obtained for the performance of a surgical operation upon him. The Spanish authorities are not opposed to this being done if the prisoner will meet the expense. Three St. Paul banks closed their doors Monday, and runs were begun on several to others. The day was an exciting one in financial circles. The banks that have suspended are the Germania, Allemania and West Side, all State institutions. The steamer Commodore, which cleared Jacksonville, Fla., for Cienfuegos, Cuba, Thursday, with a cargo of arms and ammunition, foundered off New Smyrna early Saturday morning. Of the 28 men on board the vessel at the time of the disaster, 20 have been accounted for. The other eight must have been drowned. Stephen Crane, the novelist, was on the vessel, but reached shore safely in a lifeboat in company with Capt. Murphy, commander of the lost steamer, and two of the crew. The Cubans charge treachery in the wreck of the steamer, saying that so soon as it was discovered that the vessel was leaking, the pumps were tried, but were found to have been tampered with, and were useless. The men were then set at work bailing out the vessel with buckets, a futile task that was soon abandoned. Three Spanish newspapers, the Imparcial, Heraldo and Correspondencia, of Madrid, have withdrawn their correspondents from Havana. This action was taken on account of Government prosecution of these papers. Heavy snowstorms raged throughout the Northwest during the early part of this week, and train service is badly crippled. A dispatch from St. Paul reports the storm the worst that has occurred for years. Devil's Lake and Grand Forks, N. D., reported no train for over 36 hours. Dispatches from Yankton, S. D., say that only one railroad in the State moved train Sundav. and that was a local. Nebraska
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St. Paul, Jan. 6. -As - a direct result of the closing of the Bank of Minnesota two weeks ago, which created new distrust among depositors and started runs on a number of city banks that were reputed not to be as strong as the depositors wished, three St. Paul banks, the Germania, the Allemania and the West Side, none of them national institutions, all closely associated, closed their doors today, one being in the hands of the state bank examiner and the others making assignments.
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Several Institutions Weakened by Steady Withdrawals of Deposits. Four more banks have been added to the list of those at St. Paul, Minn., whose doors have been closed since December 21. They are the Germania, the Allemania, the Minnesota State Savings and the West Side. Of this quartette the most important member is the Germania. This institution, which is a State and not a National bank, was founded in 1884. Its capital was $400,000, with a surplus of $59,000. On December 17 the loans and discounts amounted to $975,000 and the deposits to $1,091,968. The Allemania Bank, with a capital of $400,000, having a clientage similar to that of the Germania, closed its doors also soon after the other bank had announced its assignment. The Allemania Bank was organized last year, being the successor of the Commercial Bank. The West Side Bank of St. Paul cleared through the Allemania Bank, and the latter failure compelled it to close. It is a small concern. There was a heavy run on the Minnesota Savings Bank, which is intimately connected with the Germania Bank. As a result of the run the Minnesota Savings Bank has taken advantage of the sixty-day notice. The Germania, the Allemania and the West Side banks all did business as State banks. Every one of them was literally pulled down by the depositors The Citizens' National Bank of Fargo, North Dakota, is in the hands of the National Bank Examiner. Its capital is $100,000. The City Bank of Nora Springs, Iowa, has suspended.
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QUIET AT ST. PAUL. The Bank Scare Has Passed Away -Excellent Showing Made by Remaining Banks. St. Paul, Minn. Jan. 5.-In banking circles today it seemed almost as if the scare had gone with the blizzard. for the banks were much less worried by withdrawals. The banks that closed vesterday were in charge of their clerical forces, making up the reports. Maurice Auerbach, as receiver, took the place of Bank Examiner Kenyon in charge of the Allemania, his bond for $250,000 being filed this morning. The reorganization committee of the stockholders of the Bank of Minnesota is meeting with the heavier depositors to devise a method of reorganization. Thirty depositors, with $175,000 in the bank. were at yesterday's meeting. The depositors of the Union Stockyards bank at South St. Paul are to meet later in the week to consider the subject of reorganization, the receiver's report showing the bank to be in good condition. At the January meeting of the directors of the Second National bank yesterday there was declared a semi-annual dividend of 7 per cent. This bank has 51 per cent. of its deposits on hand in cash. The other national banks make similar showings. The savings banks. for the protection of depositors. are still requiring the sixty days' notice for withdrawal of deposits, and this together with the strong showing of the other banks has had a quieting effect on the general public. John L. Brady, a banker and creditor of the Germania bank. came before Judge Bunn with an application for the removal of Peter M. Kerst as assignee of the Germania bank. and the appointment of some other suitable person in his place. Judge Bunn, after reading the application. signed an order to show cause. returnable tomorrow morning at 10 o clock. Mr. Brady is understood to be a creditor of the bank to the amount of some $20.000. Chicago III.. Jan. .-. bill for receiver was filed in the circuit court today against the Calumet state bank of Blue Island, which made an assignment in the county court last week. The auditor asserts that the assignment was the result of collusion among the officers of the concern. The assignee is M. C. Eames, who is one of the officers. Assignee Eames of the Calumet bank filed a report today regarding the financial affairs of that institution. It shows total assets of $99,986. upon which. however. he places a value of $74,329. Total liabilities are placed at $70,640.
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MORE BANKS FAIL. Three Institutions in St. Paul Close Their Doors. St. Paul, Minn., Jan. 5.-The Germania, the Allemania and West Side banks, all doing business as state banks, on Monday closed their doors, every one of them being literally pulled down by their depositors. The failure of the Bank of Minnesota December 22 caused unrest in the community and depositors withdrew their money from the three banks above to such an extent that they were forced to go to the wall because they had not funds enough immediately in hand to meet the demands made upon them. Each of the three, however, is solvent, and all of them will reorganize ns soon as the machinery for that purpose can be put into use. The directors of the Germania met Monday evening and appointed a committee on reorganization. The Germania is in the hands of P. M. Kerst as assignee and the other two are in the hands of Bank Examiner Kenyon. A receiver will be appointed for the Allemania to-day and the West Side bank will try to make arrangements with its creditors and reopen without the intervention of a receiver.
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ST. PAUL'S CASH. Proof of Claims Against Insolvent Banks has Been Filed. The $257,000 of city funds tied up in the suspended banks of the city is still carried on the balance sheet of the city treasurer as funds deposited in banks. According to the reports from the corporation attorney's office, there is a possibility that $22,480.81 of this amount may be turned over to the city at an early date. When the Bank of Minnesota closed its doors the sum of $49,392.10 was on deposit, $22,480.81 of this sum being what is called the interest coupon account, and was used by the city to pay maturing obligations in New York. According to the views taken by the comptroller and the corporation attorney, this money was a special or trust fund, and an application has been made to the court asking that an order be issued compelling the receivers to return the sum to the city. The corporation attorney stated yesterday that proof of claim had been filed with the receivers of the Germania, Allemannia, West Side and Minnesota Savings banks for the monies belonging to the city which were on deposit with these institutions when they closed. In the case of the Bank of Minnesota the court had extended the time for filing claims to June 1 and consequently no proof of claim had been filed, although this would be done in the near future, and as soon as the court had rendered a decision as to the interest account fund at that bank. The claims filed with the receivers against he four banks are as follows: $120,917 64 Allemannia 52.040 40 Germania 10,013 47 Minnesota Savings 24,954 23 West Side The total amount, including that on deposit In the Bank of Minnesota, is $257,318.06. Personal Injury Case. The personal injury suit of Catherin Larkins, tried before Judge Bunn, went to the Jury at 12:30 p. m. yesterday. At 5 p. m. the jury had not agreed and a sealed verdict was ordered. The personal injury suit of Mary K Eng against Guiterman Bros. is on trial before Judge Bunn and a jury. The plaintiff was an operative in the factory of the defendants and sustained an injury to her hand while operating a machine. She sues to recover $5,300 damages. After Dinner Cigars. Go to Adam Fetsch's for your fine Key West and Domestic Cigars.
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ST. PAUL'S CASH. Proof of Claims Against Insolvent Banks has Been Filed. The $257,000 of city funds tied up in the suspended banks of the city is still carried on the balance sheet of the city treasurer as funds deposited in banks. According to the reports from the corporation attorney's office, there is a possibility that $22,480.81 of this amount may be turned over to the city at an early date. When the Bank of Minnesota closed its doors the sum of $49,392.10 was on deposit, $22,480.81 of this sum being what is called the interest coupon account, and was used by the city to pay maturing obligations in New York. According to the views taken by the comptroller and the corporation attorney, this money was a special or trust fund, and an application has been made to the court asking that an order be issued compelling the receivers to return the sum to the city. The corporation attorney stated yesterday that proof of claim had been filed with the receivers of the Germania, Allemannia, West Side and Minnesota Savings banks for the monies belonging to the city which were on deposit with these institutions when they closed. In the case of the Bank of Minnesota the court had extended the time for filing claims to June 1 and consequently no proof of claim had been filed, although this would be done in the near future, and as soon as the court had rendered a decision as to the interest account fund at that bank. The claims filed with the receivers against he four banks are as follows: Allemannia $120,917 64 52.040 40 Germania 10,013 47 Minnesota Savings West Side 24,954 23 The total amount, including that on deposit In the Bank of Minnesota, is $257,318.06. Personal Injury Case. The personal injury suit of Catherin Larkins, tried before Judge Bunn, went to the Jury at 12:30 p. m. yesterday. At 5 p. m. the jury had not agreed and a sealed verdict was ordered. The personal injury suit of Mary K ng against Guiterman Bros. is on trial before Judge Bunn and a jury. The plaintiff was an operative in the factory of the defendants and sustained an injury to her hand while operating a machine. She sues to recover $5,300 damages. After Dinner Cigars.