Show A NATIONAL BANK FAILS The Chemical National of Chicago Closes Its Doors CHICAGO May 8 Bank Examiner James B Sturges will tomorrow morning make an examanation into the affairs of the Chemical National bank branch of the bank located at the Worlds fairgrounds fair-grounds which has exclusive privilege of the banking business at the fair It has been thoroughly secured by officers and directors at the main office so that none of the depositors of the Worlds fair branch will suffer The president of the bank is J O Curry who came to Chicago a short time ago from Aurora The bank was supposed to be one of the soundest financial standing and gave every appearance of a profitable business It was organized five years ago as the Chemical Trust and Savings bank and a year ago was reorganized as a national bank under its present title The Chemical National is not a member of the Clearing House association and the first outward signs of trouble was given at noon today when the bank officers made application through the Illinois National bank which cleared for it upon the clearing house for aid A committee began an examination of the bank securities and after several hours it is said notified President Curry that it would be impossible for the clearing house to extend financial aid or credit to the bank After this verdict there was a long conference con-ference of the bank officials and at the close word Was sent to the comptroller of the treasury that they would not open their doors tomorrow pending a full and complete examination by the bank examiner exam-iner Later in the evening word was received re-ceived from Washington that Bank Examiner Ex-aminer Sturges would take charge of the bank tomorrow The causes leading to the trouble is said to be an accumulation of paper upon which the bank is unable to realize easily It is said however that the securities are adequate |