People's Pilot, Volume 2, Number 51, Rensselaer, Jasper County, 9 June 1893 — Collapse at Defiance, O. [ARTICLE]

Collapse at Defiance, O.

Defiance, 0., June 7.— The Defiance savings bank of Andrew Sauer ha# failed, with a paid-up capital stock of but $37,500. Its assets will amount to not less than $160,000, with liabilities not to exceed SIOO,OOO. The failure is attributed to the great amount of loans made by the bank, which aggregate $127,000, thus bringing the working capital of the bank down to very close figures. Together with the failure of the; savings bank, Andrew Sauer turned over his property both personal and real, amounting to fully SIOO,OOO