Indiana State Sentinel, Indianapolis, Marion County, 26 July 1893 — Page 6

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THE INDIANA STATE SENTINEL, WEDNESDAY MORNING JULY 26, 1893 T W E LYE PAGES.

WALL-SI, GROWLS

Because Its Bankers Are Paid Double Eagles Instead of Gold Coins of Lesser Denomination THE BANKS MAY PROTEST On Account of the So-Called Inconvenience. The London Market Regulates the Value of Silver. Further Shipments of Cnrreney from Xetr York Ilanka to Cincinnati and St. Louis Institution The Failure of the Commercial Uank of Milwaukee Confidence at Denver Other ew) of the Financial Outlook. NEW YORK. July 21. Bank presidents today reported that the situation was fairly easy with som? shipments of currency to St. Louis.' Denver and Kansas City. The sub-treasury was debtor at the cb-aring house today $1,390,000 and it paid $1,373,000 of that in gold, all in double ra rles. In addition to that some of the debtor banks paid their balances in gold, so that more than $1,700.0! in sold had to be distributed by the clearing hou.se am-ng the creditor banks. There is considerable dissatisfaction arnnn? the banks at the sub-treasury in this matter. One prominent bank president, speaking the views of several of them this morning on this subject, said: 'I do not kn-uv what is the object of this obstructive policy of the treasury ofllcfciK but whatever it is. it is an eT-eedingly inconvenient one for the banks. Whv th: treasury in conducting its business vih the banks should make it as Inconvenient as possible for the banks Is to me incomprehensible. If the p. ivernment must pay out gold to tho banks why cannot they pay out five-dollar places and two-and-a-half-dol-lar pieces, of which they have plenty, Insten i of double, eagles, which we cannot u.-. The pold coin of the smaller denominations w could use in making tip cash for pay-rolls, but we cannot use the twenty-d0!ar g"ld pieces for that purpose, and they are. therefore, practically not available for every day, ordinary use. I do not know what action the banks will take in this matter but I think they will probably present a very strong protest to the secretary of the treasury against a continuance of the practice complained of. We do not know whether Assistant Treasurer Jordan is simply obeying -the instructions of his superior .Heer (the U. S. treasurer) in this matter or is carving out a policy of his own, but whichever it is it is exceedingly ill judged." The large balance due to the clearing house today by the sub-treasury was mainly caused by the payment for gold delivered to the assay of! ice yesterday. The payment for jensions, too, at this time of the year is always unusually heavy. The clearing house loan committee met today but did not issue any more loan cert'Ticat'-s. They arrangfd. however, for the retirement tomorrow r Monday of $1"0,0'V of the certificates. The total amount of certificates now outstanding is 5.-2.1W, i . Speaking of the general financial situation this afternoon, Frederick I). Tappen, president of th Gallatin national bank, said that he thought there was a decided improvement, money was easy and there was a more confident feeling everywhere. With reference to tomorrow's bank statement Mr. Tappen said he thought it would show a large decrease in loans and a decrease in the deposits with a consequent increase in the reserve. . The amount of cash in the banks would probably be less than last wick. Til K I'UIt i; OK SI L 10 It. London rite It for the World Send In Currency Went. The Post's Washington correspondent says: "So much criticism has been passed upon the policy of the treasury in determining the price which it would pay for silver bullion, and the question has t-en raised in so many quarters whether thy Loud on market or the New York market should be used as a basis that it was suggested today to Mr. Preston, acting- direct. r of the mint, the wisdom of explaining clearly to the public the theory un which the treasury is proceeding in this matter. "I claim," said Mr. Preston, "that In ascertaining what is the 'market price of silver, in accordance with the law, the price of silver in the London market must necessarily be taken into account. It is the price of silver there that regulates the price of silver the world over. The London rate has regulated it all through this century and regulates It now. There is, indeed, but one market price of silver today. The precious metals always tend to have the same value the world over. London is still the world's market for silver and the price in London is the market price of the metal, allowing, of course, for transportation, brokerage, insurance, etc. Aek a banker in I'aris, Melbourne, Calcutta or Hong Kong the price of silver and before answering you he will consult tha latest London quotations. The countries having silver to sell look to London. Nations that want silver look to London for it. There the world's demand and supply of the metal meet. There the price is fixed. Now, England obtains most of the silver with which It supplies the markets of the world from the United States. Mexico and South America. The London market bein? so largely supplied by the United States we shall naturally expwt to find silver cheaper In the United States than In London, and when we do not so find It we cannot help Inquiring Jrrto the cause of so strange a phenomenon. "It is because the treasury is bound to follow the law. I have no doubt that the present administration would be glad to pay $1.1:9 an ounce for silver If it believed that was the bona fide solid market price for the mtal. The matter is a very simple one. The treasury is anxious to buy silver like everything else Its called upon to buy, as cheap as possible." A tour of the banks and principal brokers' offices in Wall-st. today showed that the bankers are waiting and watching the finaclal development all over the country. Special attention la being paid to St. Louis, Cincinnati and New England. The Western national bank shipped $2.".00O to Chicago and it is said that the Fourth national font about 5i'0.000 to St. Louis and Chicago; the Chemical bank almost as large an amount to western plont, and there are rumors unconfirmed at the present writing of other currency shipments. The Inilow of currency to several banks thus far today .iggregate a!Ut $70OC0. There arrived ty fcteamer today from

Europe $213,500 in gold and $315,000 more will be started from the other side tomorrow.

'o Explanation Necessary. PORTLAND, Or., July 21. In response to a telegraphic query from the editor of the Pacific Banker and Investor of this city the following was today received from Comptroller of the Currency Eckels: "I am la receipt of your telegram of yesterday. At New York, I said: 'Disasters have fallen upon speculative Institutions in the boom cities of the states of Washington, California, Colorado, Kansas and Missouri which have injured solvent ones. I do not see that any explanation of that language is necessary. There is no reflection upon the state or upon any Institution or upon any city except such as have been known and are looked upon as a city where speculation is rife. There is no one but believes that the great majority of the financial institutions of the states named are absolutely solvent. On the other hand, no one would deny that of recent years speculation has been carried on in certain localities West to a degree not warranted by the growth in population. It is Just as well to be philosophical and to state honestly the cause of the present depression, and not to grow excited without having reasons therefor." Condition of New York Itnnkn. WASHINGTON. July 21. The official statement of the condition of national banks in New York City at the close of business July 12, based on reports furnished the comptroller of the currency In response to a call made by him was completed this afternoon. It shows that th3 reserve held by the banks was 25.30-100 per cent, or only 30-100 more than the legal requirement. Notwithstanding this apparently slight surplus over the amount to be held in reserve as required by law. Comptroller Eckels states that the New York City banks are in excellent condition and show a remarkable firmness, considering the extraordinary demands that have been made on them. A Milwaukee Hank Anslgfns. MILWAUKEE, Wis., July 21. The Commercial bank this morning assigned to A. B. Guilfus, the cashier, who filed a bond of $l,cr0,000. The troubles of the bank are said to result from its acceptance of a large amount of the paper of Corrlgan, Ives & Co. The officers of the bank are: E. R. Paine, president; J. G. Flint, vice-president, and A. B. Geilfus, cashier. The capital stock of the bank was ?2r.0,000. The July statement gave the total liabilities at Jl.Gr.6.S50.S7, of which $037,743.22 was due depositors on demand and $52S,915.22 due depositors on time. The Rev. TnlmnKe Talks. CHICAGO. July 21. The Pev. DeWitt Talmage is at the Auditorium. Speaking of the financial situation he said: "Greater crops will be harvested this year than ever before and this more than anything else will create a condition of placidity. Congress . will meet and give the country a 1-read pill, just as a physician would administer a harmless pill to a patient suffering from imaginary disease. Next winter will, I believe, be a season of great plentil'ulness and commercial activity, for -prosperity always accompanies such a reaction." Cheyenne Hanks Firm. The comptroller of the currency received advices this afternoon from Cheyenne, Wyo., that the banks there stand firm. Excitement is ended and no more trouble Is feared. Today's deIoslts far exceed the withdrawals. The examiner in charge of the First national bank of Cheyenne writes the compt roller that no more trouble is apprehended there and that the depositors who withdrew their money from the First national bank are now depositing it with the Stock Growers' national bank, Runs on banks have Ceased. Silver Ilouglit nt 70. WASHINGTON, July 21. In purchasing silver bullion today at 70 cents per ounce, the treasury department paid a lower price than it has ever paid for the commodity. The highest price paid for silver bullion under the Sherman law was $1.20 per ounce. AFFECTS L AHOIl AXD CAPITAL. Important Declaio i ly the Minnesota, Supreme Court. ST. FAUL, July 20.-A very Important decision was handed down by the supreme court today, which has a wide bearing on labor and capital alike. It Is In the case of the IJuha manufacturing company of this city vs. W. C. IloIIis et ab, representing the Northwestern lumberMen's association. Tne case excited a great deal of interest a few months ago, when it tirst came up. The Hohn manufacturing company was a member of the association, and the constitution provides that no wholesale dealer shall sell goods at any place at less prices than retail dealers. The Uohn manufacturing company was accused of violating the agreement, was notiiied by the secretary that a circular would be sent to all members, notifying them of the fact. The Hohn company served an injunction on Secretary Hollis on the ground chat Its business would be seriously injured by such action. The lower court sustained the plea and granted a permanent injunction against the lioycott. The order of the lower court was reversed in today's decision, for the reason that the Hohn company, being a member of the association, should conform to its rules, and hence had no ground for an Injunction. The supreme court holds that any man. unless under contract obligation, or unless his employment charges him with some pub'ic duty, has a right to refuse to work for or deal with any man or class of men he sees fit. and this right, which one man may exercise singly, any number of men may exercise Jointly. In his opinion, which is quite ions. Judge Mitchell reviews the history of the case, and then says that it presents one phase of a subject which Is likely to be one of the most Important and difficult which will confront the courts during the next quarter of a century. "This Is the age of associations and labor unions." continues the court. "Confined to their proper limits, they are not only lawful, but laudabl. Carried beyond these limits, they are liable to become dangerous agencies for wrong and oppression. Beyond what limits these combinations cannot co without interfering with the legal rights of others is the problem which the courts will doubtless be frequently called on to pass upon." Dl EL TO THE DEATH. Two Mexicans llatf Their Wounded Honor Satlfled. VICTORIA. Mex., July 21. A duel that resulted fatally to both the principals took place in the outskirts of this city yesterday. Francisco Villareal, a prominent yoüng law student, and Juan Rangela, a young business man. became Involved In a quarrel over a young lady, and they engaged In a duel to satisfy their wounded honor. Ilangela ued a knife and Vlllareal a pistol. Villareal was stabbed three times, but as he fell he fired a bullet into the body of Rangela. Both men lived but a short time. Prencher fiullty of Abdnctlon. VICTORIA. B. C. July 20. The Rev. A. R. Reams, the Mercer, Cal., preacher, who abducted Lucy Rucker, the sixteen-year-old daughter of one of the deacons of his church, seems to have escaped. Reams arrest here a month sko was followed by lengthy legal proceedings, which finally resulted in the Issuance of extradition papers by the Ottawa authorities. Defaulting Cashier In Jail. TACOIA. Wash., July 20.-S. B. Duslnberre, cashier of the Bank of Puallup, who was arrested for embezzlement of $tl,(y und released on ball, has been rearrested on a second charge of embezzlement. He was hell in tla.Ccw, in default of which he went to Jail. I Cure crrousnea and Constipation. Dr. Shoop's Restorative'1 Nerve Pills sent free with Medical Book to prove merit, for 2o starb n. Druggists, 2ic. Dr. fchoop. jiox X. Racine. .Wis.

C IN DENVER, Suspension of Other Banks in the City Because of an Army of Scared Depositors, WHO CROWD THE STREETS. The Senseless "Run" Lasts But a Short Time, And a Feeling of Confidence Rules Again. D. H. Moffatt Secures IleJivy Shipments of Money from the East to Tide Ills Dank Over the Dinleulty Kansas City's Trouble Over Finances Practically Over Failures of Other Small Dunks Elsewhere. DENVER, July 18. No such a scene was ever witnessed in the west as could be seen here this morning shortly after 10 o'clock, when the banks were supposed to open their doors for business. The failure of three savings banks yesterday had excited the masses, and at the hour of opening the streets were crowded with anxious depositors. The eleven clearing-house banks, located within four blocks of each other, were surrounded, and far into the streets the crowds gathered until officers and special police were called out to clear the way for traflic. At 10 o'clock the Union national, with a capital of $1.000,000, posted a notice that they would not open their doors. This started the panic, and following quickly the Commercial national posted a similar notice, and then the National bank of commerce, and people asked, "Where will this stop?" A run was immediately begun on all the other banks, though to no great extent upon the People's national. The First national seems to be the soundest of all, it having over sixty per cent, of its deposits on hand, with a private fund of $1,500,000 in addition to draw upon. The Colorado national and several others are in equally as good condition. Those withdrawing their money are all small depositors, the large holders being satisfled to let their accounts remain in the banks. The banks are paying all demands except on time certificates, requiring that those remain until the expiraton of the time. The Union bank's resources consist of loans and discounts amounting to $1,622,6SS.S3; U. S. bonds to secure circulation, $1"0,000; cash and exchange. $147,567.82, and the redemption fund due from the U. S. treasurer of $6,750. It has overdrafts, secured and unsecured, amounting to $32,077.72. The liabilities to depositors amount to $53.1,558.23. There are $14,097.62 due to other national banks, and $29,808.65 to state banks, and the bank had paper outstanding for $170,000. President Woodbury's opinion is that the bank will reopen and continue business as before. It 3 ae of the oldest bank? in Denver and hes always been regarded as one of the solid ones. The failure of the Chamberlain Investment company a few days ago affected the Union national bank considerably; the company had become Indebted to the bank in the neighborhood of $50,000, which weakened the bank in the estimation of those who know the relationship. The Commercial national bank closed its doors this morning within a few minutes after the opening, for it become apparent from the size of the crowd in front of the bank that a run was to be continued. A notice was posted on the door, "Closed for liquidation, by order of the board of directors." The bank was in bad shape. It has a capital stock of $230,000, and only had $2,000 in cash In the bank. Small depositors rushed to the American national bank this morning and began to draw out their deposits. The American national bank has less t-mall depositors than any other of Its capital $1,000,000 in this city, as its dealings have been largely with men who handled big money. The vice-president of the bank said that those who are drawing money are those who usually paid the grocers and butchers with checks which came to the bank through the clearing house. The depositors had to go to the bank In person to draw the money. Excitement Abates. The excitement and demand upon the banks after money continued unabated until about 2 o'clock, when it almost entirely subsided, at all the banks except the Utah state national and the German national, where the line of depositors seemed to increase instead of diminish. This bank is understood to have a special train on the way from Kansas City bearing $490,000. and that it will reach here early tomorrow morning. The First national bank received $100,000 at a little after 1 o'clock and $250,000 more at the closing hour. This came from New York. It was money due President Moffatt for bullion he had sold. Just before the close the failure of the Mercantile savings bank, with a capital of $100.000. was announced. Its assets are sufficient to pay all liabilities in time. At 3 o'clock, the closing hour. there were hardly half a dozen people in any of the institutions except the above named. Mr. Moffatt, president of the First national, stated that the deposits at his house during the day exceeded the withdrawals. The bank has always been most conservatively managed and is almost exclusively owned by Mr. Moffatt. The prevailing opinion among the bankers and business men is that the panic is over, and that no more banks will be obliged to close, although the run In a mild way may continue against two or three banks for a day or two. It is believed by financiers that today's run will result In the people having more confidence In the strong .banks; that the money withdrawn today will at once be redeposlted and a better footing be es tablished in financial circles, which will make money easier. The suspended banks expect to resume business in a short time. The constant drain on' the banks by scared depositors is what brought about the crisis. It is stated by bankers that no less than $S.000.000 has been drawn from the banks during the last three months. Of this $3,000,000 has gone East in regular lines of business, but there Is $3,000.000 hoarded in the city. The safety deposit vaults are full and there Is rea son to suppose that the homes of worklngmen contain secret places In which their savings are hidden. If one-fiftieth of that amount was let Into circulation the stringency In Denver would cease. Dry Goods Company Full ore. The McNamara dry goods company. one of the largest institutions of the kind here, failed this morning. The 11a

THE

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PRICE, bllitles are placed at $260,000. The assets at this time are not known. The failure was brought on by an attachment served on the house at 10 o'clock this morning by the Union national bank, which failed to open its doors this morning, for $71,780, and the Colorado national for $2.847.74. The president of the latter bank had a private claim for $25.000, and D. Sheedy, an officer in the Denver national. one for $40,000. The failure was not un expected, but it had been hoped that money would be easier and that the firm would be able to pull through. The stringency In the money market and inability to place securities or secure an extention from the banks, aided by the closing of the savings banks yesterday, was the direct cause. Had the banks which closed yesterday been able to secure cash with which to carry them over the "hard spots." the failure could not have occurred. Nearly the entire amount falls on Denver banks and commercial houses. The AVomt Over nt Knnsns City. KANSAS CITY, Mo., July 13. Although last night the bankers of Kan sas City do not expect to get through to day without trouble, none came, and the impression prevails that today marks the beelnnlnpr of the end of the recent financial flurry. There is evidence today that the people have stopped to think. It is a notable fact that no man who had money in the banks of Kansas City or the Missouri' national has the slightest doubt of getting every cent of it. The banks in Kansas City which failed are: The National bank of Kansas City, the Missouri national bank, the Kansas City safe deposit and savings bank and the Bank of Grand-ave., the latter being a state bank. The Chemical Will Xot Resume. CHICAGO, July IS. The committee having in charge the reorganization of the Chemical national bank, which sus pended some time since, has decided that resumption ol Dusmess is not. practical at the nresent time. The reasons given for declining to resume are the stringency of the money market and the inability of some of the stock holders to meet the assessments wnicn would b? levied on them if the bank resumed. One In Ohio, TOLEDO, O., July 18. The Citizens bank of Ada, the most prominent one in Hardin 'county, failed to open its doors this morning. Peter Ahlfield has controlled it for over a quarter of a cen tury and is one or tne weaitniesi men of that section. No statement of assets and liablltles or the cause of the failure can be obtained. Forced to Snspend. ARMOURDALE, Kas., July IS. The Citizens' bank suspended payment today. with assets of $151.500 and liabilities of $126,500. State Bank Commissioner IJreidenthal took possession of the bank. Among the heavy creditors of the ba-.dc is the county of Wyandotte, which had on deposit some $40.000 of Its funds. A "Wnshlnsrton. Failure. ANACORTES. Wash., Ju'y .18. The bank of Anacortes failed to open its doors today owing to inability to realize on securities. Liabilities $29.000; assets $78,000. Depositors will be paid in full. COMPTROLLER ECKELS SPEECH. His Views of Dud Tlnnklnff anil Room" Institutions. NEW YORK, July 18. Comptroller of the Currency James II. Eckels was a guest of his predecessor, ex-Comptroller A. B. Hepburn at dinner at the Union league club this evening. He spoke as follows: "The condition which confronts the American people Is one that deserves the thoughtful attention of every citizen who has at heart the interest of the country. It isn't a time of panic because we have passed the period in our history when a panic is a possibility, but it Is one of a slow liquidation, the results of undue speculation and unwise financial legislation. Nothing 13 to be gained by taking on a fright that Is unwarranted by either the Immediate past or the immediate future. "What the American people ought to do in the midst of the failures that have occurred is not to give way to uncalledfor alarm, but to study the character of the institutions which have failed, the causes which have produced them and the localities in which they have occurred. After such a study let them view the solvent Institutions everywhere about them, and the conclusion that must irreslstably follow is that the legitimate life of the country is not threatened, but instead will come out of the present turmoil the stronger for having passed through It. In conservative business centers the failures have been few either in banking or other lines. Bad banking of any and all kinds is dangerous and must inevitably bring disaster upon those who engage in it. The present stringency has simply hastened the closing of some banks because they were inherently weak. Others have closed a? a resultant effect of having alive the operations of speculators in the extreme West and in portions of the South.' The art has not been discovered of making something out of nothing, and the financier who stakes his all upon an unbuilt city, reaching out Into the waste places of the earth, must bring about the ruin of his own and kindred institutions which have trusted in him and pinned their faith to assets unborn. "Disasters have fallen upon the speculative institutions in boom cities of the states of Washington. California, Colorado, Kansas and Missouri, which have. In turn, njured solvent ones, but the states of New England, the east and middle states and those of the northwest, not less than of the south, have thus far escaped and will because the foundations upon which they are built is of rock and not of sand. Such a review as that which I have Indicated cannot but have the effect of quieting the fears of the timid and encouraging those who have thus far maintained an unswervng faith in the speedy coming of better times. "It ought to check those who invite disaster by withdrawing from solvent institutions the money which the depositor cannot possibly use. TJhe people are hoping and asking much from the banks of the country. In turn the banks have the right to considerate treatment from the people. Let those who have so long transacted buslr.es with the banking institutions have sufficient confddence in them to know and feel that if In years past thfy have proved safe they are ilkely so to do In the present emergency. Runs on banks but destroy the interest which otherwise would be protected and those who Indulge In them cause to come about the thing which they say they wish to avert. "In conclusion, permit me to say that I indulge relther extravagance rt speech or undue flattery when I ray that the course followed by the banks of this great city through the past stress has been such as to commend them to the srood wishes of the cltliens of the pub-

FOR

T THE WULWB

25 CENTS. LIBERAL TERMS TO AGENTS.

lie. There has been displayed a wisdom that has met every emergency,, and the safe financial condition of affairs on the part of the banks has been a constant source of Inspiration to all the country. COMPTROLLER ECKELS' POLICY. He Talks Concerning the Denver Dank Failures. WASHINGTON, D. C, July 20. James H. Eckels, the controller of the currency, immediately on his return from New York this morning, addressed to the national bank examiner at Denver a dispatch defining the policy of the administration with reference to insolvent national banking institutions generally, as follows: "Frank Adams, national bank examiner, Denver. Col.: " I wish you would announce to the officers of the banks which have failed in Denver that It Is my intention to lend them every aid possible looking toward speedy resumption on their part, and that I shall grant to them sufficient time to enable them not only to collect such amounts as are speedily collectible, but to get together such amounts of money as will enable them to open upon a small basis. It seems to me that such citizens as have, by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confidence and brought about this condition ought, in view of the damage they have done their city, as quickly as possible, to repair it by standing ready to deposit with them. I fully appreciate all the circumstances of the situation, and that no unnecessary loss Is entailed, you are authorized to employ as assistants to protect paper and collect in moneys, the most competent and trustworthy employes In such institutions. I have also ordered Examiner McHugh of Iowa to report at once to assist you. I desire that this telegram be given to the press at Denver, evidencing as it does that the controller has faith in the ability of the banks of Denver to resume and of his desire to lend them every assistance consistent with his official duty." When asked to express more fully his views on the condition of affairs, Mr. Eckels said the. failures in Denver yesterday, like a number of other national bank failures, were caused by no fault of the bank officials, but through a foolish and uncalled for lack of confidence on the part of depositors. "It is my intention," he said, "where a bank has been properly conducted and whose assets under ordinary circumstances would have permitted it to remain solvent, to give every opportunity to the institution to resume business. All the Denver banks that failed were well managed and every opportunity will be given them to resume. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume." Notifications of two more failures reached Mr. Eckels this forenoon. The unfortunate banks are the First national of Harrlsonville, Mo., which went under this morning, and the Oklahoma nawhich closed Its doors yesterday. John I. Mercer of Helena, Mont., was today appointed receiver of the Livingston national bank of Livingston, Mont. Controller Eckels' efforts to secure a reopening of the insolvent Chemical bank of Chicago have failed. This morning Mr. Eckels received the following telegram from the Chemical bank committee: "After long, p-.tlent and earnest efforts, the committee of the stockholders of the Chicago chemical bank has concluded that resumption is not practicable at this time. At first the problem seemed easy, but the many financial disasters throughout the country have excited the public and produced unusual caution, and made it very difficult to collect outstanding bills or raise money by usual process. The conditions imposed by the controller were well received, but the present stringency seems an obstacle too serious to be overcome by the stockholders. "Signed 'E. H. GARY, "R. J. BENNETT, 'S. JS. GROSS. A. Ii. BARN KS, k"W. VAN NORTWICK. "Committee." DOIULE MURDER AND SUICIDE. Shocking Tragredy Which Occured In Southern Illinois. METROPOLIS, 111., July 21. The most shocking double murder that ever occurred in this section took place in this city this evening when Richard Shoemaker killed Richard Lukens, Jr., and George Lukens. wounding their father, Richard, and then committed suicide by sending a bullet into his own body. All the parties were men of high social standing in this city, and were well known throughout southern Illinois and In Kentucky. Richard Lukens, Jr., married Shoemaker's step-daughter, Miss Lillian Jones, some three years ago. Shoemaker was Miss Jones' guardian and upon her marriage he was called on for an accounting. Seemingly he had run through with a large sum left her by her father. Suits were brought in the courts and a bitter feeling resulted. Recently a piano in Mrs. Lukens possession was sold by Shoemaker and on its removal hot words were exchanged. This evening Shoemaker, armed with two large revolvers, walked to Richard Lukens Jr.'s gate and finding the young men standing in the yard, opened fire, shooting George in the right temple and then sending a bullet through Richard's heart as he was holding his babe in his arms. Shoemaker then entered th.e yard and fired shot after shot into the quivering bodies. Richard Lukens, sr.,: hearing the fire, ran to the scene of the trouble, only to be met by the murderer, who opened fire on him, s'aooting him in the thigh, fly this time a crowd was gathering and Shoemaker ran a couple of squares and then sitting down sent a bullet into his abdomen and was dead in a few minutes. Shoemaker was about forty years of age and leaves a wife and two children. The Lukens boys were aged about twenty-eight and thirty. Both had wives and each one child. Shoemaker had been preparing himself all day and this afternoon showed a bag of cartridges to a friend, asking in a nonchalant manner If they would kill a man. Miss Garrett's Suicide. PHILADELPHIA. July 19. Miss Emma Garrett, who committed suicide in Chicago last night, had a world-wide reputation as a teacher of deaf children. She was the principal of the oral school for the deaf located at Elwyn. Pa., a few miles from this city. Previous to the establishment of the Elwyn school she was associated wltn her sister In a elmilar institution at Scranton, Pa. The Misses Garrett were the pioneers In this line of teaching in thid country. Their method was to take deaf children under school age und teach them to read sound by the motion of the lips. Both the Elwyn and Scrantoa schools huve recently been made state institutions. Miss Garrett was betweeen forty and fifty years of axe. ...

WTIWEL OTHER BANK FAILURES. SUSPENSION OF THE KEXTICKY NATIONAL OF LOIISVILLE And the Milwaukee National nnd South Side Savings Inntitutlon The Feeling on the New York Stock Exchange Other llusluess Mutters. LOUISVILLE. July 22. The Kentuckynational bank closed its doors short ly after 10 o'clock this morning and the announcement was made by the board of directors that payment had been suspended. There was no excitement and no one would have suspected that the bank had closed up but for a crowd of loafers and newsboys who congregated on the sidewalk. The suspension had been expected as the bank has a large amount of paper which, though giltedged, could not be realized on. The last statement is as follows: Resources Loans and discounts, $1,719,966.52, overdrafts secured and unsecured, $21,639.95; U. S. bonds to secure circulation. $50.000; U. S. bonds to secure deposits, $300.0u0; merchandise. $50.213.60; stocks, securities, ets., $49.2SS.8S; due from approved reserve agents, $37,622.37; due from other national banks, $37.011."; due from state banks and bankers, $62,819.20; banking house, furniture and fixtures, $182,737.66; other real estate and mortgages owned, J6S.614.2S; current expenses and taxes paid. $12.429.50; premiums on U. S. bonds. $50.0o0; checks and other cash items, $6,121.51; exchanges for clearing house, $4,435.72; bills of other banks, $1.786 ; fractional paper currency, nickels and cents, $1.294.71; specie, $11,173.25; legal tender, $73,302; treasurer (5 per cent, of circulation), $2,230; total, $2.742,624.01. Liabilities Capital stock paid in. $1,000,000; surplus fund, $108,500; undivided profits, $39,350.96; national bank not?s outstanding, $45,000; dividends unpaid. $120; individual deposits subject to check, $311,695.33; demand certificates of deposit, $250; time certificates of deposit, $159.0SS.06; cashier's checks outstanding, $15,075.09; U. S. deposits, $191.731.83; deposits of U. S. disbursing officers, $133,268.17; due to other national banks, $318,814.61; due to state banks and bankers, $231.0o9.1S; notes and bills rediscounted. $125.161.80; bills payable, $37,500; total, $2,742,624.01. The bank was the government depository and the government has a large sum on deposit which is amply protected by U. S. bonds. President Fetter said to the Associated Press representative that he had full confidence in the solvency of the bank and believed that business would be resumed as soon as an exaimnatlon could be made by one of the national bank examiners and the condition passed upon by Controller Eckels. The Kentucky national bank was organized in December, 1878, the late Bland Ballard, judge of the U. S. court, being its first cashier. The capital stock was originally $400.000, but a rapidly increasing business shortly demanded that the capital be raised, nnd It was accordingly Increased to $500,000. The Increase was made in 1874 and the stock has since remained at these figures. It is thought that a run on any of the other banks is hardly probable, and if it does come they are prepared to meet all demand 3 made on them. HANKS WHICH HAVE FAILED. Since Jan. 1 Nearly 200 Huve Cloaed Their Doors. WASHINGTON, July 22. Since the first of January nearly two hundred national banks have closed their doors against less than fifty during the same period last j-ear. Of the failures this year five have been U. S. depositories, as follows: The First national bank of Little Rock. Ark.; the Gate City national bank of Atlanta. Ga,; the People's national bank of Denver, Col.; the German national bank of Denver, Col.; the Kentucky national bank of Louisville, Ky. This latter bank, which closed its doors today, had, by the last report received, $330,000 of U. S. funds. The government, however, will not lose anything by these failures, as each national bank that is a government depository has to deposit U. S. bonds to the amount of government money it Is allowed to carry. These bonds, in case of the failure of the bank, are sold for the account of the government, and, as U. S. bonds are at a premium in the financial market, there is never any difficulty in realizing. This afternoon Comptroller Eckels ordered bank examiners to take charge of the failed banks as follows: Escott, at Louisville, Ky.; Plummer, at Knoxvllle, Tenn.; Sawyer, at Russell, Kas.; Stone, at Vernon, Tex.; Lynch, at Milwaukee, Wis. The abstracts of the reports as to the condition of national banks in Boston, Mass., July 12 show the reserve held to be 29.81 per cent., in Buffalo 22.79 per cent.. In Philadelphia 30.39 per cent., and in Pittsburg, Pa., 24.35 per cent. The legal reserve is 25 per cent, of deposits. Gen. Warner Talks. CHICAGO. July 22. Gen. A. J. Warner of Ohio, the active spirit in the blin the world, though It has no direct agency here. lie said: We can not make money any more In Europe. All the capitals of all the countries are, for banking purposes, next door to each other. Transactions of credit and cash are so immediate that the opportunities which existed formerly of using money to advantage In one place where It is scarce when it is a drug in another, are too quickly remedied to be profiitable.' " 'Why don't you come to America? said I. " 'Well.' he replied, 'if I was well satisfied about your financial conditions and business methods as I am with financial conditions and business methods as they exist over here, I would transact a large part of our business with your country.' "The first and at present only condition (for here sentiment comes in again) which will release us from this thralldom of fear and bring to us the confidence of our own people and of the world. Is the repeal of the purchasing clause of the Sherman act." "What about the proposed Interference with the existing tariff?" "My opinion is that our industries do not need to be alarmed." "Would it not have been an advantage if congress had met earlier than the date upon which it has been summoned?" "It certainly would," said Mr .Depew, "If for no other reason than the plain fact that it is the only body competent to apply the remedy. The sooner the remedy the sooner the cure of the disease, and In this instance the remedy can not be applied too early. The conmetallic convention, which meets in Chicago Aug. 1, is at the Grand Pacific hotel in conference with local silver men on the arrangements of the convention. Gen. Warner said: "The battle of t bimetallism has been fought in the forum of the world, argument Is passed. What Is needed is decided action. We expect a large convention. There will be many

1893

ALR5IARJA'

FA

uini earnest men present men who understand the subject thoroughly. The country is aroused as it never was bofore. A sense of alarm is manifest all over the country at the pos-sit-ilities of the establishment of a single gold standard. The present financial condition is largely artificial and amounts almost to a public crime. The gold men should be held resyonsible for it. He is a fool who is made to believe that the present money stringency is due to th increase of $4,00.0O0 monthly under the Sherman purchase law." Speaking of the much-mooted question of the repeal of the Sherman law. he said: "It will not le repealed without a satisfactory substitute." Two Mllwnukee lknuka Closed. MILWAUKEE. July 22. The South Side savings bank opened as usual this morning, but closed its doors at 10:30. The report of the bank made on the first Wednesday of this month showed: Total resources, $1.13,065.17. G. C. Trimpff is president of the South Side savings bank and J. B. Koetting is cashier. The Milwaukee national also suspended this mornig. Its last report showed resources of $l.i65.3S5.76. George H. Noyes is president of the bank. J. H. McClure cashier, and George II. Noyes and J. H. and J. D. Inbush directors. President Trumpff of the South Side savings bank said depositors had been making large withdrawals during the past month, while collections had len impossible. While they hope to be able to resume after the storm has blown over, they are not able to state anything definite. The closing of the Milwaukee national bank was a surprise even to some of the stockholders. J. M. Pereles. who owns a block of the stock, says there is no reason why the bank should have closed except that the officers were afraid to stand a run. A statement a few days ago showed that the bank had assets in excess of liabilities amounting to between $500,X)0 and $60o00. Three Southern Ilnnka Fall. WASHINGTON. July 22. In addition to the heavy failure of the government depository at Louisville three other failures of national banks were reported to Comptroller Eckels this morning, the failures occurring in sections wide apart. The failed banks are: The State national bank of Vernon. Tex., capital $100,000; the First national bank of Vernon. Tex., capital $80.0o0, and the State national bank of Knoxville, Tenn., capital $100.000. All these banks are small institutions, the deposits in each being in the neighborhood of $100,oio. Governor Cooper, connected with the National bank of commerce of Denver, had an interview with Comptroller Eckels this morning as to the bank resuming business. While not assured, it is probable that arrangements may b perfected by which the bank can resume in a short times. The comptroller has appointed William A. Rice receiver of the Puget Sound national bank of Everett, Wash., and Mr. George B. Hoffman rwelver of the Bozeman national bank, Bozeman, Mont. Persons suffering from sick headache, dizziness, nausea, constipation, pain in the side, arc asked to try one vial of Carter's Little Liver Pills. STATR OP INDIANA. MARION COUNTY. ss: In the SujK-rior Court of Marion County, in the State of Indiana. N. 43.4m) Complaint, divorce. Henry F. (Janon vs. Dora Ganon. He It known that on the 7th day if July, the above named plaintiff, by his attorney, hied in the oftic of th- Clerk of the Superior Court of Marion County, in the State of Indiana, his complaint against the above named defendant, Dora Ganon, and the said plaintiff having also filed in said clerk's otliee the affidavit of a competent person, t-howing that said defendant Dora Gunon, is not a resident-of th state of Indiana, and whereas said plaintiff having by endorsement on said coi'iplant. required said defendant to appear in said court and answer or demur thereto, on the 4lh day of September, IKK. Now, therefore, by order of said court, said defendant la.t above named is hereby notified of the tiling and pendency of sail complaint against her, and that unless she si PI tear and answer or demur thereto, at the calling of said cause on the 4th day of September, INK', the same l-Hng the first judicial day of a term of said court, to be licgun and hel 1 at the court house in the City of Indianapolis, on the first Monday in September, lsy:, said complaint and the matters and things therein contained and alleped will be heard and determined in her v absence. JOHN K. WILSON. Clerk. N J. M. CROPSEY, Attorney for plaintiff. I U I ' STMW um MV.? A tin Kit g.i ft!l wtt'Tl f.W Cut Uli out and nd it to u to rrrrrut rfcr t(jisror. S ci7f with jutir f G.I name and ad"arcts. fcjid w fml Ton ML 11 '. if ?': f j3"-7 njlti ior üijr dya on.y. X--i J THE NATICSAl MTB . Vs-ÄX. & ICPffRTIKB C3.. l.iiir-e'f TAh334 Dsorftorn Street, CHICACO.ILU ; "-j W Jei fctcvrr? heuiv pimotof tnuineMer farm f-l Vjj the yr round. "Ham" 1 feetrfct ; ruutfti.kiDtaftif ft trBtM: binary. Cbtaprest po wr n rth. iMDfi4 lbMMtiy m wk or rwtu( nrhto, m mbcV.tr, pump, faa, I' he. jvelirr sr dtatifU vvMatrr, 4. Crra, Bot, laVt fr& Mo in orer tio atu. Ml. Cuarsza - J -vnwafi Profit tmoriiM). CLmaikr fr BARRY'S TRICOPHEROUS f Sly . tialdneaa, rT balr. and dandruff. VAr'rl lkeitliei!g,'wtJi!c:ht)Joft. V Zrl Curei eruptlon and diseases of the afcia. HrJtcuu,burn, bruleehn4 praina. A 11 drujrriU or by luaU M c la. 4 btoue bu N . V. mAWHOODS A tettm of ynt'l lmprndoc, mnatoc Prmlar D-r, Kvrvcti D-lllilr, LnM MtKm1. c. , havtnc lr I vta rwT known rtni"1v,hat Ororrri a ain' l fntnt of arlf. rar, whirh h w.M .nd ,lt . Fkflt to kn filownfrtrm, IcMnn C i. MASON , P. O. ba SIT, Nw Vor C1IJ, ti. Y. I mY ARPUT? Pel1 mor of Mm- MoCaba'a Ilealta LAU I AULIIIO Coracta. Somruffr Oornata and Wiuu than any other atylea made. We ran proie It- Sand forterma. Addreaa, ST. LOUIS CUnlST OO., Drawer 1 f u Louia, Mo, $1.22 BUYS A $30.00 WÄTCII V -'- .'ltiHi hliM. Ua't'iMt 'f I ' .-u tartieihirWf rm tfe mL emt M4 MaW BiAKa. kOfefci.Caav CO-, M.M-pilf, Mm I SPINAL Ir. Hartman' treatment for CLBVAItRL. SURGICAL N0TLL.VCiumDu.O,

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