Show FAILURE AT MILWAUKEE The Back rounded by Alex Mitchell I forced to Suspend MILWAUKEE July 25The Wisconsin Marine and Fire Insurance bank closed its doors this morning The bank is commonly known as the Mitchell bank Notice on the door says it is closed on account of the monetary stringency The statement on the first instant places the resources at 8940344 liabilities due depositors de-positors 7870504 due others 500000 The bank has a capital of 500000 of which JohnL Mitchell holds 313300 David Ferguson 166600 Washington Becker 20000 J 11 Murphy 1000 Undivided profits 75841 The Milwaukee people had become imbued im-bued with the idea that this old bank was a Gibraltar of finance and could not credit the reports that it was closed I was the general belief that when all other banking institutions had disappeared from the face of the earth the bank which Alexander Mitchell founded would continue con-tinue to do business at the old stand Cashier Murphy says the bank has been subjected to a heavy strain and the end was inevitable but that the bank is not insolvent and that onlv time is needed to meet every liability Washington Becker has been appointed receiver The City of Milwaukee has 1600000 in the bank and will probably have to temporarily suspend payment The bank was the depository of the Chicago Milwaukee waukee St Paul railway and arrangements arrange-ments have been made for the payment of checks drawn on that bank by the Wisconsin Wis-consin National bank Runs were at once started on a number of other banks but at each large depositors deposit-ors came to their assistance and the offi cers assured those interested that they were perfectly safe The general opinion is that the worst is past |