Boston (MA) Journal
June 8, 1893
New Albany, Indiana, June 7 – The New Albany Banking Company suspended payment this morning and closed its doors. The suspension was caused by the run made on the Bedford Bank at Bedford, Indiana, yesterday that forced it to close. The principal stockholders in the two banks are J. S. Windslay of this city, W. S. Windday [sic] of Bedford, and W. I. Breyfogle of Chicago, formerly of this city. Yesterday W. L. Breyfogle executed a deed of trust of $300,000 worth of unencumbered real estate in Chicago for the benefit of the depositors of the two banks there. It is claimed that the assets are $212,000, its liabilities $100,000, and that depositors will be paid 100 cents on the dollar. A demand of assignment was today made to John H. Stolzenberg.
Typed and donated by Randi Richardson.