People's Pilot, Volume 2, Number 43, Rensselaer, Jasper County, 14 April 1893 — CLOSED ITS DOORS. [ARTICLE]

CLOSED ITS DOORS.

Failure of a State Bank at Sibley, la.— Liabilities Will Reach 5150.000 and the Assets Not Over Half as Much. Sibley, la., April 7.—The Northwestern state bank of Sibley closed its doors Thursday morning. Great excitement was created for the reason that it was the leading bank of the place. Soon after the doors were closed it was announced that a general assignment had been made for the benefit of creditors with no preferences, and H. E. Thayer was announced as the assignee. Parties representing the creditors state the liabilities are fully 8150,000 and that the assets will not exceed 875,000, while the bank officers state that they will be able to pay dollar for dollar in a reasonabl» time. The greater portion of the liabilities, probably with the exception of 810,000, represent the claims of depositors, mostly business men in Siblhj, and farmers-in the surrounding country.