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Show BBkr BBBAbIO DANK FAILURE. L - BBBB?Ikl,lisnie( I'Mla.lslrhta r fci,n,l BBBV':c I'hla, Dec n. A sensation BBflVfalcd In this city by the an BBBj10"1 ' l,'c suspension of tho BV; ll Street, National bank, re-BR re-BR T''aatT.eof tho strongest flnan-Pt flnan-Pt (t nstltutlont In tho city. The aua-f aua-f .slon carried with It tho closing of I, e Cliettuut Trust and Saving Fund I inipany doing bushiest under the ' stato banking laws. William M. Sin-Iferly, Sin-Iferly, publisher uf the Philadelphia lllccon), I president of both companies land the aaino men, wllli one oxeeptton , I act a officer nnd directors I The first Information the publlo re-Icciveil re-Icciveil Ibat the Imnk were 111 troubla I wet In the form ot a notice potted on I the door of tho building oeeuplod I Jointly by the tonccrus, signed by National Na-tional Hank Kxamlucr William M. Hart, to the effect that the Chestnut Street Nntlunal bank had closed It Idoora pending nn Investigation of Ita affair No atatcmentof asset and liabilities Is available, but It I ttated that the deposit of the Chestnut Street bantc amounted to 81.700,000, aud ot tha trust coniimny Il.3n0.000. President Slngerly gave out a brief statement tonight In which ho tald: "He nro working to secure the Indebtedness Indebt-edness of the two bank ao that they can go Into voluntary liquidation, and thus avoid n receivership. The net earning of the lleconl last year are said to havo Ken 1110,000, more than sulllclent lo nay dividend on a turn sufficient lo pay all of Mr. blngerly'a Indebtedness to tho banks, llic statements of tha cnuso of tho failure current here ngrce with those rosile by Comptroller Kckelt at Washington, Wash-ington, that It wnt primarily duo to the lo of much money by Mr. Singer l In his uiiprodiictlvn paper mill at Klkton, Md., ono of tho largest In tho country. One statement placed tho Mini thus Involved nt nearly a million dollar. Mr. Slngerly also ha much money Invested In other ilitirprlsca In this and other cities. Humors woru current that the ownership of the Record would pas from Mr. Slngerly, but this ho denied, hi friend stating pos-lllirly pos-lllirly that ho I In, absolute control Bf the paper, nnd Villi continue at It head On Monday of this week the Chestnut Chest-nut Street National. bo,nk( mado tho following ropr totlx- clearing 'house:' Lost) nnd drscounta, S3, lot, 000; legal reserve, Ho",000; deposit. 11,789,0007 dae from tianks,133.t,000; tine td banks, IKis.uOO; circulation, 113,000. sTha reserve has been bnlowsthe legal requirement for several week. The deposits nn October 9, when tho bsnk' reported lo tlui coiuptrollr'r of tho tnasusy, auiounrf. to l3,;3'JJ05i, Tho shrinkage In Oil sum', therefore, Jias.lcen uioro than !300,0U0 In a tittle over two' month's. "" It Jt alj that'therc-hnvo been quiet but -teady. runt 'on both. lank, for .toverat daj patt Of the il(l'0Hs ,n the bank, tho city ta represented by l2il,tSi the tato by S3,000, and the.' national government by a large sum, lut all of these creditor aro believed to be protected. Much sympathy Is expressed on all sides for Mr. Slngerly. He ha occupied occu-pied such, a prominent place In the affair of the state and city for year past that tho new of hi flnauclal tilt-Gcultlc tilt-Gcultlc naturally created a sensation. |