Show ev MONEY EY PINCH risen is STILL GENERAL GENERA Arnold Print Works Employ Employing ing People in the Hands of a Receiver BIG FAILURE AT PORTLAND SAN FRANCISCO STATE BANK ON THE ROCKS North Adams Mass Nov 6 Henry HenryE E Eo Warner of or Boston was wag appointed re receiver receiver celver of ot the Arnold s nf works of this city one of the largest textile con concerns corns cerns In the country by the u United States circuit court at Boston today The corporation has a large printing factory here with offices in New York and Boston and owns the Beaver Eclipse cotton mills of North Adams the Williamstown WIlliams town Manufacturing com cuni mills of ot and the North Manufacturing compa nys flys mills of ot North Vermont The corporation has liabilities of af and nd assets estimated at 15 l Of the liabilities Is represented by promissory notes nates and obligations to banks The corporation Is declared to be solvent but owing awIn to the stringency y of the money market mark t was obliged to have a receiver appoint cd ed In order to conserve its Interests Int The mills and print works w have been heen doing an immense business and ac according according cording to the receiver will continue In operation The Phe he print works and allied aIll d mills employ em play hands Portland Ore Nov G The Title Guarantee Trust company of this city this afternoon passed p into the hands of a receiver Judge Charles M Wolverton in the United states circuit court for the district of Oregon Oregan ap appointed appointed appointed pointed George H Hill vice vlee president of ot the institution as its receiver and fixed his bond returnable in five days das at The usual restrictions for far forthe forthe the protection of af depositors In such cases are to control cantral the acts of the re receiver receiver celver who is in directed by the court to conduct and manage the business and property as In his Judgment will pro produce produce produce duce the tho most mast satisfactory results Could Not Stand a Run I The receiver was appointed on the complaint comp aint of af H Coy who gives his place lace of ot residence as Massachusetts and claims to own awn shares of the capital stock of or the corporation In his F complaint Coy estimates the liabilities of the concern at and the as assets assets sets at and states that should the holidays proclaimed by Governor Gov Chamberlain be discontinued that th tUe tOft a bank would be unable to with withstand withstand withstand stand a great and sudden demand for far ready cash owing to its inability quickly to raise funds on its securities It developed late this afternoon that State Treasurer George A Steel has hason hasan hason on an deposit in the th Title Guarantee some something tIng thing t over of ot the states money maney This money maney is said to be well protected by surety bands bonds and collateral Would Not Help The Portland clearing house heuse association association tion was appealed to several days ago agoto agoto agoto to extend aid to the Title Guarantee but the association declined to come to Its succor The Title Guarantee Trust compa company company company ny engaged heavily in real estate and was the th depository for far Immense sums of or trust and savings deposits Its of at officers are J Thornburn Ross Boss president George H Hill HIlI vice president T P Burkhart treasurer John E Aitchison secretary The bank is capitalized at in 2500 shares The failure of af the Title Guarantee Trust company compan did not nat come as a great surprise to those thase on the inside of finan financial financial cial affairs It apparently has lias been known for far some time that It was In trouble owing awing to the quality and quan quantity quantity quantity of its Hs securities which are of ot such t character as to make them th m hard to realize upon in such times as the pres present present present ent j Further Failures Improbable While the failure of the bank may have a somewhat depressing effect It ItIs ItIs itIs Is not thought that any an serious harm will result as the principal financial Institutions of ot the city are operating on the clearing house certificate plan the I actual coin cain issued being in but small quantities to large employers of af labor I and to large users of money meney The gov gOY governors ernOra holiday haUdy proclamation tion will also act as an Impediment to any concerted run against the banks In Sn fact a run In the true sense under the present banking arrangement Is impossible The banks of ot Portland are taking every precaution to keep matters on a firm level and anil as several millions In Ingold ingold ingold gold have been Imported Imparted from fram Europe and the east it will not be long lang before there will be plenty of m ney to meet ordinary requirements The fact that Portland is the banking depositary of the and has been supplying numerous banks In other cities with large sums of ot money has helped the banks of ot this city in their present state of af financial embarrassment and while they have been keeping their corre carre correspondent correspondent banks up have themselves thema lv s slid partially over the brink It is the consensus of ot opinion among bankers in this city tonight that the worst is over aYer and that the other of af Portland are amply able to take care of af their business |