People's Pilot, Volume 4, Number 48, Rensselaer, Jasper County, 23 May 1895 — Seattle, Wash., Bank Suspends. [ARTICLE]

Seattle, Wash., Bank Suspends.

Washington, May 22.—Mr. Eckels, controller of the currency, yesterday received a telegram stating the Merchants’ National bank of Seattle, Wash., had suspended. The bank’s capital was $200,000, and at the time of its last report it had assets amounting to $635,000 and a surplus of $25,000. One of the main causes of the bank's failure was too great holdings of real estate and securities upon which it could not realize. The bank was a government depository.