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THE MINNEAPOLIS JOURNJLL.
PRICE TWO CENTS. DP TO THE ALDERMEN Concessions to the Omaha Road Are Considered. BUSINESS MEN SPEAK Tell What They Think the Road Should Do. DISCRIMINATION IS DENIED -J- Judm- WiU«n Finally Admit*, How ever, That He Wai Referring to t.rulu Rate*. ' $ y&fi <$> <S> First—ln view of the value of Mm- <$• <$> neapolU shipping interests to the <•> v Omaha road, and. the failure, thus far <$> <?*> of said road to reciprocate, we ask <§> v? that said Omaha read and North- <♦> <! s Western system, pledge themselves to <$> <•> assist in every way In their power to <S> <?■• obtain from eastern trunk lines in con- <$> <j> V nection with the Chicago-Minneapolis <§> <t> roads, a recognition of the twin '<$>. <♦• cities as a Mississippi river point, <«> <£> and the establishment of Mississippi <•> <?> river point" rates on both east and <•> <£> west bound freight. <$> <•> Second—Also pledge themselves to <§> <?■ co-operate with us in securing a more <$> <• favorable adjustment of all merch- <$> <$>andise class rates as against Chicago^ <$> <?> in territory southeast, south and <«> <^ southwest of Minneapolis <3> <£> Third—The moving of the head- <§> <» quarters and shops of their road, now <§> <» N located in St. Paul, to this city. <$> <• Fourth— to arrange their time <$> <?> cards as to have all morning trains <«> <• from the Southwest Minnesota Val- <$> <♦■ ley —Western division— in <$> <r Minneapolis at "about 7 o'clock in the <$> $ morning, and leave for the southwest j <$> <§> not earlier than 6:30 p. m. Until they '<$> <?> are able to get their headquarters and <$> <♦■ shops transferred to Minneapolis, they <•> <•- shall run all passanger trains to and •*> <•■ from Merriam Junction via the Mm- <£> <•■ neapolls & St. Louis, arranging their <$> <•> time cards to arrive and depart as <$> <?> above outlined. <5> Fifth—So to arrange their freight <§■ <-' train service that Minneapolis shall <$> <?> be the headquarters for all freight <S> $ crews and road engines engaged in <$> <• handling Minneapolis freight. v*> <* <!> This states In brief official form the policy and purpose that the business men of Minneapolis deeire the Omaha and North-Western railway systems to pur sue toward Minneapolis in the future. More than that, they will insist that the railway officials agree to the same in ■whole or large part before being granted the valuable concessions pending in the city council. The business men voiced their demand through George H. Partridge. E. F. Smith and others of the Commercial Club at this morning's session of the council com mittee appointed to consider the question of the vacation of certain North Minne apolis streets In furtherance of the new terminal plans of the Omaha road. There were present besides the mem bers of the Commercial Club fully one half the members of the city council, and, representing the railway company, Super intendent. Trenholm, Division Superin tendent Winter and Judge Thomas Wil sjn, general counsel of the company. The BnKfneMH Men's Position. Mr. Partridge presented the demands of the city's business interests at the con clusion of a session devoted to settling some minor points where the language of the ordinance left a possible chance for a future misunderstanding. Mr. Partridge explained that his com mittee had not as yet had time to see the railway officials, as they desired. He hoped that when they did meet all that was asked would be conceded. The busi ness men of Minneapolis were asking no more than the business actually justified. He then read the resolutions adopted by the Commercial Club at Tuesday night's meeting and closed with the statement given above setting forth the demands of the allied, business interests of Minne apolis. Wilson Denies Dlscriminatlon. At the conclusion of Mr. Partridge's re marks Judge Wilson jumped to his feet mimatedly and declared that ,so far as .he charges of discrimination in favor of Chicago were concerned* he would like to lay that the North-Western railway com pany had had a bigger fight right along against the business influence of Chicago and Milwaukee in favor of favorable rates for the twin cities than it ever had ie all Its experience with the interstate com merce commission. It had been one con stant battle with those two cities in be half of Minneapolis and St. Paul. In response to a question interposed by Mr. Partridge here. Judge Wilson admit ted that the fight had been made almost wholly in behalf of the grain interests of Minneapolis, acd that the item of mer chandise had not entered into the contest to any great extent. He Insisted, how ever, that in general the two roads had been doing their full share to help out the twin cities. Judge Wilson in behalf of his road ac cepted the proposition contained in the ordinance requiring the company to pay its share of the expenses of permanent Improvements on streets on which its property abuttea. He objected to the clause requiring the city engineers' ap proval of future bridges over Seventeenth avenue and also insisted that the council enter into a contract never to vacate the approaches to Seventeenth avenue, which 6treet is not included in the street vaca tion plan, but reserved for possible future use in the event that a bridge is ever needed over the river at that point. He was overruled on both ponts, however. The height of the Plymouth avenue bridge was increased from 13}£ feet to 14 feet on the insistence of the third ward alder men. ' Omaha Official* Coming. The committee decided to postpone ac tion for two weeks, which was not dis All-Day Battle With Boers Richmond, Cape Colony, June 27.—A large force of Boers, commanded by Malan and Smit, attacked Richmond at daybreak, June 25. The fighting lasted till dusk, when the Boers retreated on the approach of British reinforcements. pleasing to the Commercial Club delega tion. It is understood that before the next meeting this city will be visited by some of the Omaha officials for a confer ence with the Commercial Club committee, and an effort made to reach an agree ment. The members of the committee as sert that they are making only a reason able request in view of what Minneapolis contributes to the support of the Omaha In addition to the valuable privileges asked of the council. ON THEIR OARS Favorable Day for the Race Between Yale and Harvard. New London Harbor Alive With Brilliantly Decor ated Craft. New London, June 27.—An intensely hot sun shone this morning—the day of the Yale-Harvard boat race—on New London harbor, in which was as pretty a fleet of boats as has ever been seen here. It was a varied assemblage of craft, from government boats to naphtha launches in the steaming class and from cat boats to the great single stick racing boats in the sailing class. Above and below the bridge during the early hours of the morning, there were enough handsome private boats to have lined the four-mile course inclose column, three or four vessels deep on each side. The boats comprising this fleet were brightly decorated, with the favorite col lege colors of the owners prominently dis played amidst the usual abundance of na tional emblems, club sennants and bur gees. By 11 o'clock most of the vessels of the fleet down the harbor were on the move to take advantageous positions above the bridge and along the course, and shortly after that hour the majority of the boats had droDDed anchor beside the flags that marked tne lake in which the crews rowed, directed in this operation by the officers of the U. S. S. Dalles which acted as course boat. In the fleet the United States govern ment was represented by the Dolphin, having aboard Secretary of the Navy Long and carty; the Gresham, with a number of the lighthouse and revenue service offi cials aboard; the Dalles, the Dexter and the Algonquin of the revenue service, act ing as course boats, and the Onondaga, with a party of congressmen mostly from New York. The betting, which was not heavy, was at odds of 5 to 2 on the Yale freshmen early in the day, while the Yale varsity crew was the favorite at 5 to 4. Preliminary Spurts. At Red Top, where Harvard's headquar ters are located, Coach Storrow gave his final instructions to the crimson crews i and then the varsity and freshmen went out on the river for a limbering up. After rowing up the river 200 yards they started on a race for an equal distance. The freshmen splashed at the start, but the varsity pulled like a unit, the blades cut ting the water with deftness and pre cision. On this trial, as well as on the other two which were held, the varsity eight finished perceptibly ahead of the youngsters. The four-oared crew next went out and indulged in a number of short spurts. While they were out a launch containing Secretary of the Navy Long arrived at Red Top pier and was greeted with much enthusiasm by the Harvard contingent. The visitors remained about a quarter of an hour and then passed down the river. None of the crews was out over fifteen minutes this morning. The remainder of the day until the hour of racing will be spent in quiet. Coach Storrow said that the men were all in good physical condi tion. At the Yale quarters the men spent the morning hours in restful quiet. It Is probable that they will not put their foot in a boat until the hour of racing arrives. The Two Contests. The first race of the freshmen eights starts at the drawbridge about 4 o'clock and will be rowed up stream, finishing at the navy, distance two miles. Harvard has the east course. The 'varsity fours will be called im mediately after the finish. This also will be up river, two miles, starting at the navy yard and finishing at Gales Ferry. Harvard will aeain be on the east side. The chief event, the 'varsity eights, Is scheduled, for 6:30; distance four miles, down the river, the tsart being at Gales Ferry and the finish at the drawbridge. In this race Yale has the east course. The referee will be W. A. Meikelham in the 'varsity race. D..M. Goodrich will be timekeeper for Harvard and G. S. Mum ford and D. F. Downs will be the judges to represent Harvard. Harrison McKee will be a neutral judge. FIGHTING BURNING OIL FATAL, EXPLOSION' OF A CANNON Standard Oil Property in Indiana Struck by Liuhtnlng and Burning I p. Decatur, Ind., June 27.—The fir e which was started at Preble Tuesday night by lightning striking a tank of the Standard Oil company, containing 50,000 barrels of oil : is still burning. Three hundred men from this city, Huntington, Montpelier Lima, Ohio, are fighting the flames and making efforts to save five other tanks that contain over 500,000 barrels of oil. Joe Kintz and V. D. Lewton of Lima, Ohio, were loading a cannon to shoot the burn ing tank when it exploded, and they were fatally burned. The loss to the Standard Oil company alone will reach $60,000. Many of the inhabitants have been badly burned. FILIPINOS STILL FIGHT Lieut. Downs and Others Killed and Several Wounded. Manila, June 27.—Lieutenant Edward I Downs of the First infantry and one pri- ! vate of that regiment have been killed in j the southern part of the Island of Samar. i Captain Woodbum of the Nineteenth ' infantry has captured Samson's camp in i the island of Bohol. Private Kraua of that regiment was killed and four men were wounded. Lieutenant Mina McNair has captured fifty-four insurgents in the northwestern part of the province of Tayabas, island of Luzon. The army register gives the name of Major Thomas C. Woodbury of the Nine teenth infantry, but does not mention a Captain Woodburn. THURSDAY EVENING, JUNE 27, 1901. EVANS TO GO HIGHER More Than "Equally as Good" for Him. PENSION HEAD STICKS * Not Resign While He Is "»» Under Fire. THERE'LL BE NEW COMMISSIONER But No Great liu»li Will Marie the Selection of Ev«m' Snccecior. «J^J!* T^S,' r<!!f rnal Bur**u, Boom 46. .Port Building, Washington. Washington, June 27.—General Sickles' interview, in which he alleges that the v— y^ A WARM ISST7R. A WARM ISSUE. Joey Babcock's Dog Is Stirring Up Plenty of Excitement Any Way. republican national committee promised In the president's behalf that Commis sioner Evans would not be reappointed, has given rise to the impression that the commissioner of Densions serves for a fixed term. Such is not the case. When once confirmed nothing except death, res ignation or removal can put an end to his service. Mr. Evans has no desire to leave the nension office. He has been so bit terly attacked that he rather enjoys fight ing the battle out, and when he leaves the office it ■Rill be because it is the de sire of somebody higher up, for some such reason as General Sickles cites, that he do so. Another version of the affair, emanating from some of the president's professional eulogists, that- he loves Evans so intensely that he would not remove him or even accept his resignation, but that he does intend to promote him to a higher and an easier position, does both the president and the commissioner a grave injustice. It puts the president in a most unhacpy light while it represents Mr. Evans as willing to be placated by some higher office, and so spirited away from the post of his greatest duty. Neither the presi dent nor Mr. Evans has done anything to deserve being painted in such hypocritical colors. Doubtless there will be a new commissioner of pensions as soon as it can be suitably arranged, but the reason for it will not be pity for any failing health of Mr. Evans, for his health i 6 not failing, nor any desire to go into private business, because he has no such desire, Dor any feeling that he should be pro moted, because his own preference would be to stay where he is, but it will be be cause his management of the office has antagonized certain persona who were able to secure an agreement about the time of the Grand Army encampment of 1900 that if they would then desist in their at tacks upon him, the occasion for them would be ended not long after the next Inauguration. It Is doubtless the presi dent's purpose to carry out this arrange ment, and, of course, he will do so by tendering Mr. Evans, who has been a faithful and extremely efficient officer something thit will bear the semblance of a sromotion. But the Dromotion will be a result and not the cause of the change. The southern dem- SOUTHERNERS ocracy seems to have dropped Bryan for DROP BRYAN, good. Southern demo crats who have been In Washington recently talk with much earnestness about a candidate from their section for the presidential nomination in 1904, and with one accord dismiss Bryan with scarcely a notice. Representative Adolph Meyer of Louisiana is the last southerner to take the public into his confidence as to these matters. He is sure that silver and expansion will not be issues in 1904, and goes so far as to de clare that silver will not even be men tioned in the platform. Obviously, such a declaration leaves Bryan out of the question entirely. Mr. Meyer calls atten 'jf>B t<* 4h» fact that the country hag twice declared against free silver, and that the democratic party would be very foolish indeed to undertake to revive a corpse. REDEMPTION OF Internal Rev en v c Co ramissioner REVENUE Yerkeu has issued a circular letter of in- STAMPS. structions to Collec- tor Yon Bombach and other collectors throughout the country covering the redemption of un used Internal revenue stamps, which will be of no use to holders after next Mon day, when the modifications of the war revenue law go into effect. The instruc tions cover every point In connection with redemption, and will be of Interest to many persons in the northwest. Copies of the circular have been sent to Collec tor Yon Bombach for distribution to those who apply for them in his district. Captain D.W. Hand CAPTAIN HAND of the Forty-fifth volunteers, spent a ON THE couple of days In Washington this PHILIPPINES, week. On Tuesday af ternoon he went to New York, where he Joined hia wife. To gether they will spend a week or ten days at the Buffalo exposition, after which they will go home to St. Paul, where Captain Hand will settle down again as a business man, taking up his old position as a lum ber merchant. He did not come through the twin cities on his way east from San Francisco. Says Captain Hand: There is a splendid opening in the Philip pines for "American industry of every kind. Our soldiers were greatly impressed with both people and climate, and many of them intend to return after a short visit to their homes. The hardships to be encountered are nothing in comparison with what the early pioneers withstood in Minnesota, Wisconsin, the Dakotas and Montana, and the promise of quick returns are everywhere good. Hard ly any capital will be needed. The land is rich, the crops grow in profusion, living is very cheap, and on a small income a man can live as well as the moderately rich live in this country. There is much about the country that is attractive and it will not be long until the better parts of the islands are filled up with American citizens. —W. W. Jermane. Washington Small Talk. Rural free delivery service is to be estab lished at Emerson, Mills county, and Kent, Union county, lowa, Aug. 1, with two routes running from each place. Postmasters appointed to-day: Minnesota— St. Boniface, Hennepln county, Nicholas Kraus. North Dakota—Hensel, Pembina county, Donald Thompson. Wisconsin—Amos, Dane county, Charles O. Tellefson. ON THE MIAMI Journal Excursion Passes Mackinac Bound for Home, Special to The Journal. Mackinac Island, Mich., June 27. —The Journal Pan-American excursion arrived at Mackinac this morning on the North Land at 11:30. The travelers transfer to the Miami and sail for Duluth at 1:30. Finest kind of weather, and all well. BURGLARS AT WORK Saloon and General Store at Red Lake Falls Robbed. Special to The Journal. • Red Lake Falls, Minn., June 27.—Bur glars entered J. H. Paradis' saloon and ,M. Skala's general store last night and carried off the cash register containing $15 from Paradis, and three suits of clothes, several pairs of shoes and $20 from Ska la's. They left tools at 'both places.. ; HOT 'ROUND THE SOO Jane Weather Record for Ten Years In Broken. ' Special to The Journal. .¥.-'.- -V . Sault Ste Marie, 'Mich.; '■ June ; 27.— terday was the hottest 'June day here in ten years, the official . record at the : United States weather bureau being 91 degrees as the maximum. ;The £ mercury .In other thermometers soared to the hundred mark. The 5 heat was rendered more uncomfort able by excessive humidity. At ;noon to day the ninety mark was reached and the mercury will go higher. , McLEOD COUNTY VETERANS. - Special to The Journal. .■'\- >■ -- ■ Glencoe,XiHinn., June 27.—The . McLeod County Veteran*" association, which has been in session:the past two days, | finished yester day afternoon. \ The | following officers '; were elected for the ensuing year: C. >Baker, com mander; T. C. Arnold, lieutenant commander; l ,T.; P. . JacksoD, treasurer. : Brownton, Minn.; .was designated was 'the place tor holding : the next encampment 7 - ~ ~ .J HANNA FOB PRESIDENT Bryan's Ardent Wish May Yet Be Gratified. MARK IS SUSPECTED Politicians' Reading of Columbus Convention Indications. HANNA-FORAKER PACIFICATION Mark Leadn the Ohio Orchestra In stead of Belnar Violin ist No. 2. Mmw York Sun Same fat Smpvlmm. Washington, June 27,—1s Mark Hanna a candidate for the presidency? ' .'.'■ J This question is being asked ' a good many times in political and official circles here. A good many observers think he is. They base their opinion upon recent events in Ohio. It did not escape the notice of the more alert onlookers that Mr. Hanna made peace with his old-time enemy, ex- Mayor McKlsson, in the Cuyahoga county convention last week. Senator Hanna went out of his way to bury the hatchet and secuer a truce. As a rule, he fights and secure a truce. As a rule, he fights and has never chansed his nature. But on this occasion he almost suffered hu miliation for the sake of sweet peace. Led the Orchestra. Those who picked up their ears when they saw the redoubtable Hanna joining hands with his ancient enemy and ac cepting a ticket which that enemy had much the most to say about naming, felt that their suspicions were confirmed when they beheld Mr. Hanna's performance at the republican state convention at Co lumbus. Here Mr. Hanna was not com pelled to play second fiddle in the chorus. He was the leader of the orchestra. He had everything his own way. But apart from a wholesome sitting down upon Former Secretar of the Treasury Fos ter, who would not tote fair, Mr. Hanna again went in for harmony. He wanted harmony and he got it. He nominated a ticket by acclamation, and for once the chief figure in Ohio politics has things in fine shape for the approach ing campaign, with all the factions united in the bonds of common interest. Those Washington observers who think Mr. Hanna has started for the White House bid us take notice of the manner in which the junior senator from Chio patted the senior senator upon the back. If Not Forgiveness, What? Two years ago, according to the pre vailing notion, Mr. Fofaker tried to stick a knife into Mr. Hanna's back. His clos est friends did all in their cower to de feat Hanna's senatorial aspirations and Foraker declined to call them off. He said the campaign was over, so far as he was concerned, when the polls closed elec tion day. Mr. Hanna' had to make his fight alone. Worse, still, Foraker's strongest lieutenants were in the field against him. Mark Hanna has never been noted as a forgiving person. Humility has never been In his line. He has some reputation as a Dunisher of his wicked foes. Yet he and Foraker stand at the platform at Columbus arm In arm. The resolutions praise both Hanna and Foraker, the lat ter a little more warmly. It was Hanna's convention through and through, yet For aker was indorsed for re-election. He was commended by name for his services in connection with the Porto Rico legis lation. In all this the astute onlookers at the national capital perceive the fineness of Mr. Hanna's hand and the existence of a well-developed case of presidential ambi tion. 12 PAGES-FIVE O'CLOCK. N. I BANK GIVES DP TEMPORARILY The Seventh National, Controlled by Perry S. Heath, Decides That Suspension Is Advisable. Institution in the Hands of the Con troller of the Currency-Its Condition and History. .'.- ._■ - ' v. . ■ ■ ■ men. giVen ouUs af,„' W " Pa7ment' "*.""**» *cc* —• The state- . bank^wm" 0" S '!" d* I""» and stockholders of the Seventh National y L" k U speL" lapU°e"r Or°"We"- ** »"" "'"""^ »T ■*<■- «* *>"* : When the bank's doors were closed the following notice was posted: This bank Is in the hands of the controller of the currency. '' -••■•■ —Forrest Rayoor, National Bank Examiner ' ' ' the^Hnt^^^Sw^rf °nal;^ for the week June 22 ' 1901 > ¥ Capital, $374,600; net V 5234,400; loans, $4,407,100; specie. $557 700• legal tenders. $777,700; deposits, $5,712,400. Percentage of reserve. 23.4 S : All the banks made the exchange at the clearing-house as usual, . ' by (SLer^arth^a^' a MUSUaI tOday ' but at 10:45 the do°" were closed dlrecton. d » °, hIS *Ctlon *a3 on at a meeting of the board of directors depositors and the attorney, for the bank, held this morning establishedin 183 N3 atl°F aI °rlginal* the old ,Ward bank, and waa McAnerny, a southerner, who was president of the the institution was held by John McAnerny, a southerner, who was president of the bank. - : ' PERRY HEATH V CONTROLLED •nir^ May ' J B9 n. PlrSt Assistant Postmaster General Perry S. Heath: practically ac Sm^ii aCOi rf ng interest the. stock of the Seventh, and on July 4 Wmiam H fvT£lS!lT^ S T ™1 baDk eXamiDer tO become Vice president of the bank »l - STt£ o rrted ei th gen made at the same timejosiah Quin- °f b° was°h^«n c 'f' ' I B."' J 11"" McAne™y resigned the presidency and Vice President Kimball ar dfr::rar? a s Stf eonows FletCher S' *** 6l6Cted vice president: The dmceri :.' W. : R' Thomas ' P^sident; Fletcher S. Heath, vice president; George ; W. Adams, cashier. '' " . Directors-George W. Adams, : Eugene j Bissell, Thomas M. Boyd - : I etcher S.; Heath. Perry S. Heath, Erskine Hewitt, William H. Ximbalf Alexander McDonald. Guy G. Major. William P. Orr, Josiah Quincy Frank * ■"«, * H. Ray. John A. Sullivan, W.H. Taylor and Samuel Thomas. ':'. .. v- ; ; / j I -.: CLEARING-HOUSE ACTION clearine-hTOse BUSPeDSiOD °' *^ nk followlng statement was made it th« "\ At the clearing-house this morning, the Seventh National "bank came ■-> in debtor, $644,108.95. The clearing-house committee has been.ln session -V. • since 9:30, awaiting the results of the; clearing. When it was found out ■ the debit balance was so heavy, the committee communicated with the r officers of the bank, and was then informed that the . board of directors was in session and that a decision would be arrived at within nft«e«: or ' ' ' twenty minutes as to the action of the bank. In consequence of tills statement, the clearings were held *back thirty minutes. At 10:45 a m ""'■ ' William Nelson Cromwell, Edwin Gould and Mr. Thomas, president of the • bank, came into the clearing-house and informed the committee that in view of their heavy debit balance and for other reasons It was considered - wise that the bank should temporarily suspend. The clearing-house com- J mittee thereupon directed the manager of that institution to eliminate from the clearings all operations of the Seventh National bank. . A member of the clearing-house committee says that at this morning's meeting the name of no institution other than the Seventh National bank was referred to"-' - * The Seventh National bank was the custodian of the funds of the New York post office. Assistant Postmaster Morgan said when he heard the news of the bank'« suspension: . >..' . . The postofflce is amply protected. When the account was opened the bank put up $250,000 in government bonds as security. The present state of the postofflce account with the bank I do not know, but I am investigat ing it. At 11:20 o'clock the officials of the embarrassed bank posted the following notice' Checks drawn by the Manhattan state hospital will be paid at the Chase National bank. Drafts drawn by the St. Lawrence County bank Canton, N. V., will be paid at the Chase National bank. Among the institutions having close business relations with the Seventh National was the stock brokerage firm of Marquand & Co. Frank B. Poor of the firm made the following statement after the bank's suspension: From the outlook Just now, I think we're going on. At the same time cannot tell. Just now everything is uncertain in the business world, but I believe we will get through. Later it was learned from an authoritative source that the bank has on deposit $207,000 of postal funds, all of which is amply secured by bonds. The announcement of the suspension caused only a ripple in the stock market. The first selling of stocks which followed the announcement of the suspension inter* rupted a recovery in prices and caused a reaction of 1 to 2% points in some of the principal stocks. The offering of large sums of money on the exchange at 6 per cent and large buying orders placed in the market rallied prices and left the stock market dull but somewhat feverish until noon. RESULT OP BAD NEWS In banking circles it was said that the Seventh National bank's heavy debit balance to-day was the result of the news of the bank's embarrassment on Tuesday being telegraphed throughout the country. Interior institutions having moneys deposited with the Seventh drew on the bank, and these drafts all coming in at the same time were too much for the institution. The suspended institution is now In the hands of the controller of the currency, who has appointed Forrest Raynor as temporary receiver. Mr. Raynor's examination of the loans of the bank is understood to have proved that the collateral back of them was weak in some instances. The objection of the bank examiner to these collateral securities la said to hay» decided Mr. Cromwell to advise the suspension. President Oakley Thorn of the North American Trust company, which had some business relations with the Seventh National, said his corporation was not in any way affected by the suspension. When asked as to the effect of the failure, he said: I don't know anything about any concern except our own, and that, I can assure you, is all right. If any one asks reference on. the subject I can refer him to the state bank examiner. His statement will, am sure, be taken. I know there are rumors connecting us with the trouble of the Seventh National, but they, are merely rumors. I am happy to say we are all right. At noon President Tappen of the Gallatin National bank and chairman of the clearing-house committee, said he did not think that any firms or banks, even small ones, will fail as a result of the suspension. President Alvah Trowbridge of the Ninth National bank reiterated his denial of connection with any of the financial transactions which impaired the Seventh Na tional. ' I regret the closing of the Seventh National. I don't believe any other bank will be affected. In fact, I am assured by the clearing-house that none will be. The Ninth National is in excellent condition and there was absolutely no warrant for the use of Its name in the dlscussison of the sub ject on Tuesday. Shortly before 1 o'clock Frank B. Poor of Marquand & Co. announced that his firm was in much better financial position than it had been during the morning. It was inferred from this that the firm had received financial assistance, but Mr. Poor would not talk on that subject. It was said this afternoon that, ,the Seventh National had quick assets f about $1,500,000. It was further reported that the depositors would not lose anything. RECEIVER NAMED; -j Controller Danes on the Cause of the Suspension. ■ ■t Washington,; June 27.—Controller Dawes ! to-day ordered . the closing; of I the Seventh i National bank of New York and appointed Forrest Ray nor. national bank examiner, ' temporary receiver. Controller Dawea stated that on Tuesday he received word from the national bank examiner that Henry Marquand & Co. had recently be come indebted about $1,600,000 to th< Seventh National bank of New York. which was secured by coktteral of • doubtful nature. Upon receipt on Wetlaesd&j- of further inforniatit-a regard-