Hide Article Text (OCR)
OCTOBER 24. 1895.NUMBER 10.ifoil “The lie circn* rdav, was l AugustaFirst National Bank Closed.We regret u. announce tlial the First National Bank failed to nprnus door* this morning, but Insteadcme Wallace posted a notice that the tank hadtime ago.thoritiesof m until u and they the showm*d and that the comptroller of thecurrency had been notified.The failure of the bank created very little. If any, surprise. Its busi-ne-i-i for some years pa*t ban been their re* dwindling away month bv mouth, and they Each succeed!ng statement has beenIt i« to be rcerrtted that the failure of .the lank involves the Kttia mills, which are owned by the tank. They will I** chtfed ai**0. This is unfortunate although they have Wen run only semi-«ca* ion ally for some months pa*t berauftntf the lark of means to operate them full time.White we regret this lank failure, yet inasmuch as it has to cotue sooner or later, it is a relief to know that it If over and dime with so f.tr a- theof depre-lworcc than the last. People who us evident-1 understand the figures shown by such genertl basinet Interwu of the city acteristics statement* have constantly wondered areconcerned. It* condition during how and why the comptroller of the tbewtat two or three year*, and more. for they re (lUttit tlt;» their feet, * since do*treasury permitted It to continue d business. The Iasi statementthe defunct State National Bank upon »• Wallace j which It was dosed up by the depart icate show meut was a better one than the Firstt that en-1National fed in the In lastingWellingtonj aationai h;w m:i(Je for two yearsflut it seems to be the pulley of the j panic and a run on other banks, present administration to never do** a national tank until it is cumto especially during the past eighteen Of mumK has lwn a constant menace to all *ort§ of buMnrss. It was liable to fall any day. The other banks andbosinest men generally knew this.Its failure was liable to precipitate aCon-j seijueutly these hanks have l***n com*pellef. lo keep on hand a large cashblc time* tics of twoilk than an ; and Fitt-thelr big lat by some they were each other I ever afterpolled tudo so; it want* to reduce the | reserve: to restrict their loaning oper-'number of tank failure* to a mini- ations and to refuse many good loans mum. ! while the cash lay idle In their vaults.A* a result of tills policy the bank This was good Judgment and soundhas continued to do business for business policy, but the result was a| months and months since K actually general stagnation of business and ticca me bankrupt. Every dollar that worked many hardship* upon thosecould lie raised on its jv**ts has been who really needed accommodations used to -keep Its doors open. Every from the banks. The sospenw Is now dollar that could be borrowed from its over and business will **»n get back eastern stockholders has gene the into its usual channels.—Mull. i!d.same route. Finally an effort was '.. ~ M .I rr lT*L T, TlT TOn,,in Bl“ lil= h»s »« ^ ‘bout our Uwitoon It,boud tnSumner county eanill(U„ for commiuion„ m lh#to lake the bank and W off It, do- ,„„th dis[nct. „e is, good, care pwitnn- Ohter II. L Baity made flI|, cMuc.cnlioos buniwu man. ha, a trip to naltlnwrew complete such made a ,urctSl in Wc f„r h!lnse|f an arrangement and Mr a time It via- anii p0„„5e5 ,)le firmnc5S „f r„ar. thought that thi« would be done, aelerand good judgment that will Hut delay, intervened. In the mean make him' a splendid servant o( the time, checks were presented and paid people.until there was 1111 more money. Re Thomas Murphy was horn May I, lief was to have come yesterday. hut 1844, in Davies county, Missouri, it did not. There was no money on He was raised on .1 farm. In August hand this*morning ami the bank of- 11*21. at the age of IS, he enlisted in fleets did the only thing left for them the volunteer service from Missouri to do. in the war of the rebellion. He visit may seem strange that such a with Col. Mulligan at the battle of condition should exist and sollUte be and later, April 6, M08,bis boyhood 5 Iowa and * year 1«T6, aear Oxford, ued to live ndlng school s education, ire business ie year 1889, During that limbs com-anual labot. 1 Milan and rt hi* family g except hisas treasurer,hird term as ort.i to all those elf, with UM ’ which Sum-known generally about it. One explanation of this fact that it is a penitentiary offense under the United Slates laws to circulate any reportderogatory lo the condition or stand-mg of a national bank.was m the memorable battle of Shiloh, iTenn.) with Gen. lien. M. Prentiss. At that battle he served in the center of the line of Gen. Prentiss' brigade and with the balance of the brigade was taken pruning, J. T. and B. M n 00 their st the boys a const! tu-bicycle club arge wheel-will have u I cycle riders lie Wichita he coostitu-Ir organ Iza-dace to aid Ir organlza-iclmeu rode Bog.rtod regularlymay ?*- nslladIf.4c.Iff oOfaOS.a balance of •I9.3T3.IW that has not been checked tspoc. Besides thin there arc checks out which huve|not been paid. These do not exceed 63tti6 and may be two hundred dollare or less.The county is secured by the board of the Indemnity company that made the bonds for all the banks la«t July. The probabilities are that this company will make iu guaranty good. But there never should have been any county money in thin bank. Everybody knew the bank to be bankrupt *s a matter of fact when the county money was awarded to It last July The commissioner* did not pretend that it was solved. The same may be said of the years 1893 and 1894, but tbo argument was used that the taking of the couoty money from It would cause a bank failure. Well, we have the failure anyhow. But we hope the county will get out without Joss. If It does, the only satisfaction that some of our people will get out of It will be the knowledge that a foreign corporation, the Indemnity company, is “holding the lick.1’ If they were chump* enough Lo sign this bond, they are not entitled to much sympathy.We understand that some of the stockholder*, particularly the Zeig-lers Of Pennsylvania, are heavy cred iters as holder* of certificates of dcp» it. The general creditors arc not rnaoy nor are tbelr accounts large- It ta stated that their deposit* subject te check do not exceed 08.0410; there were only about 610.000 outside of the county fundsatthc lime of the last statement, September :23rd. They have fallen off*slnce then. But quite a number of our business men are caught on small amounts, hut none of them are large enough to embarraw* any of them.There has been acutely 00 ex citement over the failure. None of the other bank** have suffered in the least They .have known that the failure of t he Firm National was iiu-ineot and Inevitable and have fortified themselves accordingly There la no cause whatever for any uneaaf ness about the other -bank* and this *eem« to be very generally understood. We have looaed into the matter closely and have not learned of a dollar that the failure af the First National caused to be pulled out ofThe heaviest creditor of the d,**!! °‘ ^...... ^ «. . served a long tcTtn in the numerousbank U Sumner Co,, nty Spencers rcbc, un* cmltlrl lhe ,uujlbook*show that then- U in this Dank hardships.At the close of the civil war he went west and traveled over nearly all the territories of the western half of the United States. He spent two years m the service of the Indian department with headquarters at Ft. Sill.I. T., was with Gem. Sheridan and Caster on the border of Kansas and eastern Colorado in 1868, during the whole Indian campaign, w'ich closed the spring of '69. He was also with Gen. Forsyth on the Republican river in one of the hardest fought Indian baules of the frontier, so declared by the Indians engaged in it and by everyone else familiar with Indian history.Mr. Murphy has been on the frontier all of his life and claims to he one of the pioneers of this county. He traveled through this county before it was inhabited. He settled here in '67 and with the exception of the two years spent at Ft Sill, he has lived here ever since. He located on his present farm in Falls township in 1872. He has always been a good citizen, and has become a stressful farmer and stock grower. His neighbors have shown their appreciation of his good citizenship by making him township trustee in times past, and he will uidoubtedly poll a very strong home vote for commissioner. He posseses the requisite qualities to make him a splendid commissioner and ii elected the people may rely on his standing lor economy and retrenchment.k—the best I the other bank*.The Big Fight Called Off.Hot Springs, Ark., Oct. 21Tb* fight between Corbett and Fitzsimmons wa* declared off by the Florida Athletic club at a conference between the managers of Corbett and Fitzsimmons. The club a*k«i that the contest be postponed until November II. Brady acquiesced, but Julian would not. The coolest wjw declared off. Brady then said hi* la*t siy, that Corbett would meet any man In the world, Fitzslmmooa preferred, on November 11, the man to Ik? named wilhlo 21 hour*.Veodig announced that he would match Maher against Corbett and find someone to take his place against O'Donnell, the contest between Maher and Corbett to be 630,000 a side.Marriage License.j Allen Willey. 2fi..............Cicero1 Minnie Idol 2o................CiceroSubscribe for the VoiCK—the best.
Newspaper Details
Peoples Voice
Wellington, Kansas, US
Thu, Oct 24, 1895
Page 1
Full Page
Clipped by
John L.
USA 08 Jun 2021
Other Publications Near Wellington, Kansas
Peoples Voice
Wellington News
Wellington Daily News
