11028. Greens Bank (Jackson, MS)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 21, 1884
Location: Jackson, Mississippi (32.299, -90.185)

Metadata

Model: gpt-5-mini
Short Digest: fea577ea

Response Measures

None

Description

Green's (Greens) Bank at Jackson suspended payments July 21, 1884 and a receiver (J. L. Power) was appointed. Suspension repeatedly attributed to extreme stringency of the money market and inability to realize on first-class securities; assets were reported in excess of liabilities and creditors approved a plan for resumption. Articles report steps for resumption (July 31, 1884) and later partial payments (March 1885). No contemporaneous run on the bank is described.

Events (4)

1. July 21, 1884 Receivership

Newspaper Excerpt: Judge Peyton granted the petition and appointed J. L. Power of Jackson receiver. Later in the day the bank made an assignment of assets to the receiver, without preference to any creditor.
Source: newspapers

2. July 21, 1884 Suspension

Cause: Macro News
Cause Details: Extreme stringency of the money market and inability to realize on first-class securities; could not borrow funds in New Orleans/New York despite ample collateral.
Newspaper Excerpt: This Bank has been forced to suspend for want of ready cash.
Source: newspapers

3. July 31, 1884 Reopening

Newspaper Excerpt: GREEN'S BANK TO RESUME. JACKSON, MISS., July 31.-Two hundred creditors ... have approved of a plan of adjustment ... steps will be taken for the resumption of the bank.
Source: newspapers

4. March 14, 1885 Other

Newspaper Excerpt: A BROKEN BANK'S FIRST PAYMENT. JACKSON, MISS., March 14.-Green's Bank, which went into the hands of a receiver last July, announces that it will be prepared on Monday to pay the first installment of 25 per cent. and interest, amounting to about $125,000.
Source: newspapers

Newspaper Articles (22)

1. July 22, 1884 New-York Tribune New York, NY

Article from New-York Tribune, July 22, 1884

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CLOSED BY A STRINGENT MONEY MARKET. AN ASSI IGNMENT THAT WILL VEX MISSISSIPPI SHERIFFS, CANTON, Miss., July 21.-Judge E. T. Peyton, of the Ninth Chancery Court, now sitting here, to-day heard the petition of Joshua Green, the principal stock. holder of Green's Bank at Jackson, Mississippi, for the appointment of a receiver for that bank. The petitioner alleges that the bank cannot comply with the require mosts of its charter. Judge Peyten granted the prayer of the petition and appointed 8. J. Power of Jackson reeilver. Later in the day the bank made an assignment at assets to the receiver, without preference to any cred-

2. July 22, 1884 Savannah Morning News Savannah, GA

Article from Savannah Morning News, July 22, 1884

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FAILURES IN BUSINESS. A Private Banking House of Elmira Closes Its Doors at Noon. ELMIRA, N. Y., July 21.-The private banking house of F. G. Hall closed at noon to-day. Inability to realize on real estate and securities is given as the cause. The bank carried about $90,000 or $100,000 in deposits of business men, laboring men and farmers. The amount of the liabilities are not known. A RECEIVER APPOINTED. ST. LOUIS, July 21.-Ethan Hitcheock has been appointed provisional receiver for the St. Louis Ore and Steel Company, which was attached by the Laflin & Rand Powder Company. It is said that the assets are more than ample to meet the liabilities, and time is only needed by the company to realize and resume. The St. Louis Ore and Steel Company has a capital of $5,000,000 and a bonded debt of $2,660,000. The unsecured indebtedness is unknown, but is said not to be large. A BATCH OF FAILURES. NEW YORK, July 21.-Green's Bank, at Jackson, Miss., has failed, and J. L. Power has been appointed receiver. There are no preferences. The bank claims that its assets exceed its liabilities. R. H. Smith, of Richmond, Va., dealer in hay and feed, has assigned, making preferences. Fendell Horn, dealer in wines and liquors, at New Orleans, La., has failed. ANOTHER INDIANA BANK IN TROUBLE. INDIANAPOLIS, July 21.-A dispatch from Richmond, Ind., says that the Richmond National Bank was unable to meet its balances to-day, and will close its doors to-morrow. The officers claim that the assets will certainly exceed the liabilities by $200,000, and that in the end even the stockholders will lose nothing. IN A BAD BOX. CHICAGO, July 21.-Henry Stevens, a paper box dealer, has made an assignment. His attorney says that the assets approximate $100,000, and that the liabilities amount to half that sum. WHEELS CEASE TO REVOLVE. OVID, MICH., July 21.-Schofield & Cooper, one of the largest carriage manufacturers in the State, made an assignment to-day. Their liabilities are about $100,000 and the assets $75,000. BOSTON JOBBERS SUSPEND. BOSTON, July 21.-Tucker, Hammond & Co., jobbers of small wares, have suspended and assigned to Wm. R. Brown, Treasurer of the Boston Water Power Company, with preferences. The liabilities are over $100,000. The assets are nominally the same.

3. July 23, 1884 The Daily Cairo Bulletin Cairo, IL

Article from The Daily Cairo Bulletin, July 23, 1884

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THE BANK OF JACKSON, MISS. An Old Institution Goes Under, But Does the Square Thing. CANTON, Miss., July 22.-Judge E. G. Peyton, of the Ninth Chancery Court, now sitting here, yesterday heard the petition of Joshua Green, the principal stockholder of Green's Bank, at Jackson, Mississippi, for the appointment of a receiver of the bank. The petitioner alleges that the bank cannot comply with the requirements of its charter. Judge Peyton granted the petition, and appointed J. L. Power, of Jackson, receiver. Later the bank made an assignment of all the assets to the receiver without preference to any creditor. The assets are thought to be sufficient to cover every liability. Hal Green went to New Orleans a few days ago to negotiate a loan for the bank of $25,000 on $400,000 of collateral, but failed. Colonel Ed. Richardson then let him have $100,000 in United States bonds, but so close was money in New Orleans, that he could not raise the $25,000 on them. Hence the trouble and assignment. Green's Bank was the depository of almost every Sheriff in Mississippi, and much trouble and annoyance will grow out of the failure. It is thought the liabilities will reach $250,000. The business was established in 1848 by J. and T. Green, and incorporated in 1875, with an authorized capital of $100,000, of which $50,000 was paid in. Joshua Green was President and Wm. H. H. Green, Cashier. They formerly did a good business, and were looked upon as well off, financially. The Hanover National Bank was the New York correspondent.

4. July 23, 1884 The Clarion Jackson, MS

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Greens Bank. Times-Democrat.] In regard to the suspension of Greens Bank, Jackson, Miss., we are informed by a.reliable gentleman in this city, who is well posted concerning the condition of the bank, that its assets are fully $100,000 more than its liabilities, and that the suspension is due entirly to the present strie gency of the money market, and an inabilholds. ity to realize on first-class paper which it

5. July 23, 1884 The Clarion Jackson, MS

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Greens Bank. The failure of Greens Bank was a surprise and a shock to this community not exceeded by any occurrence which we can now recall. So long had the bank been one of the institutions of the place, and SO cautious and prudent had been its methods, that it had gained the confidence of the citizens to an extent which scarcely be realized; and even now that the bank has closed its doors and its effects have been placed in the hands of a receiver, the confidence of the community in the judgment and the honesty of the owner and officers of the bank is such that most of the depositors believe that the extent of their loss will not be more than temporary inconvenience. Joshua Green, the President and owner of the bank has been a resident of Jackson for little less than 49 years, during which time, until Monday last, he has never failed to meet his financial obligations. The banking business of which Greens Bank is the successor was started in 1848, by Joshua Green and his brother Thomas Green, under the firm name of "J. & T. Green." In 1876 Green's Bank was chartered by the Legislature, Joshua Green and Thomas Green becoming the stockholders. Thomas Green died several years afterwards and Joshua Green became, by purchase, the owner of his brother's stock, so that now he is sole stockholder. W. H. H. Green is the cashier and a salaried officer. The suspension was caused by inability to realize on the securities of the bank, which Mr. Green believes will be ample when the money market shall become a little easier, being, in value $100,000 in excess of liabilities. In addition to the assets of the bank Messrs. W. H. H., and J. J. Green have property estimated by them to be worth $250,000 with which they promise to make good any deficit. We know little of the private man agement of the bank, but from what we do know, and from long knowledge of the gentlemen who have been connected with, it we are prepared, now, to say that it is an honest failure, and we believe that an exhibit of the bank's assets will show that its investments have been carefully and prudently made. All creditors of the bank will fare alike, as, on the application of Mr. Green, (to guard against litigation which would have embarrassed and jeopardized the interest of depoitors had an assignment been made) Col. J. L. Power was appointed receiver by the Chancellor of this District. The receiver is now engaged in making a statement of the assets and liabilities of the bank to be presented to a meeting of the creditors to be held in Representatives Hall on July 26, at 12 M. The great confidence felt by the community in Mr. Green has had no little to do with preventing "a run". on the the Capital State Bank, though that institution was prepared to pay all its depositors, and its officers seemed rather to enjoy the opportunity of showing how solvent it really was. It is fortunate for Jackson and the surrounding country that we have another bank in our midst with large facilities for rendering to the commercial community such assistance as may enable it to get along till the crops begin to move, when it is believed money will not be so tight.

6. July 24, 1884 The Aberdeen Examiner Aberdeen, MS

Article from The Aberdeen Examiner, July 24, 1884

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INSTEAD of the Suspension of Green's Bank at Jackson resulting as anticipated in a tremenduous "run" on the Capitol State bank, the opposite condition of affairs existed, and the Ledger reports "deposits in excess of demands," and says further, "this bank is prepared for any kind of a run that may be made upon it."

7. July 24, 1884 The Aberdeen Examiner Aberdeen, MS

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Failure of Green's Bank. Our special dispatches from Jackson give the particulars of the suspension of Green's Bank, at that city, which occurred this morning. Green's Bank was the oldest banking institution in the State, and has never closed its doors on account of panics or monetary depressions that have occurred during its existence. The Bank had a fine reputation in this section. and the news of its suspension is a great surprise. We trust the claim that the Bank's assets are more than sufficient to meet its liabilities, is correct, The appointment of Col. J. L. Power, of the Clarion, ns Receiver, will no doubt prove satisfactory to all parties interested.-[Vicks burg Post.

8. July 24, 1884 The Brookhaven Leader Brookhaven, MS

Article from The Brookhaven Leader, July 24, 1884

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SUSPENSION OF GREEN'S BANK. Through Stringency of the Money Market the Bank is Forced to Close. Monday morning the following notice was posted on the door of Green's Bank: To CREDITORS OF GREEN'S BANK-This Bank has been forced to suspend for want of ready cash. It had been promised money on its ample securities, but the extreme stringency in money centres frustrated its plans. It has assets of 100,000 in excess of its debts. This suspension is made in the interest of creditors to prevent sacrifice of assets, so that all Creditors may be paid in full, and Col. J. L. Power has been appointed Receiver to that end. A meeting of the Creditors is called in REPRESENTATIVE HALL, ON JULY, 26, at 12 M., to take such action as they may see proper in the premises, when statements will be ready. JOSHUA GREEN, PRESIDENT. We, the undersigned, have property to the full amount of $250,000, with which we propose to make good any possible deficit in the assets of Green's Bank, so tbat under no possible state of the case can any creditor of the Bank loose anything. J. J. GREEN, W. H. H. GREEN. JACKSON, MISS., July 21st, 1884. The suspension created a great deal of surprise in Jackson, as it doubtless did throughout the country. The bank has always been considered one of the most solid institutions of the kind in the country, and it had the implicit confidence of depositors. It had stood many severe crashes, but has at last, through the stringency of the money market, been forced to temporarily suspend. Nothing but sympathy can be heard on all sides for the unfortunate condition of affairs even among the largest depositors. It is the general impression in Jackson that the bank will be able to pay all depositors dollar for dollar, and will be able in a short time to open its doors and resume business. The officers have been in the bank all day receiving their friends and explaining the condition of things. Mr. W. H. H. Green, cashier of the bank, was seen by a State Ledger reporter, who said that noth ing but the kindest expressions of sympathy had been indulged in by any one. He said that the suspension would only be temporary and that the bank would be able in a short time to square up all balances, as its true assests are at least one hundred thousand dollars in excess of liabilities. As will be seen by the above notice two of Mr. Joshua Green's sons propose to make good any possible deficit from their personal property, which is valued at $250,000. Credible information fixes the liabilities at $256,000 and is not known what proportion of this amount is due depositors. Mr. W. H. H. Green went to New Orleans the latter part of last week to borrow money, but he found the money market so tight that it was impossible to obtain cash with the verv best of security. As the cur-

9. July 25, 1884 The Kenosha Telegraph Kenosha, WI

Article from The Kenosha Telegraph, July 25, 1884

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West and South. IN the Fourth Minnesota District O. C. Merriam has been nominated for Congressman by the Democrats. THE National Teachers' Association held its closing exercises at Madison, Wis., on the 17th. Fifty of the teachers had arranged for a trip to Alaska. KANSAS Republicans met in State Convention at Topeka on the 17th and nominated Colonel John A. Martin for Governor; A. P. Riddle for Lieutenant-Goveruer, and Albert H. Horton for Chief Justice of the State Supreme Court. The platform recalls the triumphs of the Republican party, indorses the nomination of Blaine and Logan, and commends the platform adopted by the National Republican Con vention. IN W ilson's saw-mill, near Ellenboro, W. Va., the boiler exploded the other morning, killing a boy and fatally wounding a young man and woman. The engine was thrown forty feet, and the mill structure destroyed by fire. AT Baltimore recently Valentine Fritz was prostrated by heat. His idiot son slipped into the room where he lay and drove a long nail into his head, a fact which was only discovered by accident two days afterward. THE suspension of the private bankinghouse of A. & J. C. S. Harrison, at Indianapolis, was announced on the 18th, and by order of the local court was placed in the hands of the Sheriff. The liabilities were estimated at $500,000. THE other day Thomas Johnson was about to whip his step-son at Clifton Forge, Va., and had tied the boy's hands behind his back preparatory to the castigation. The boy loosed himself and rushed to a river close by, into which he plunged. His step-father followed, and both were drowned. ON the 18th the completion of the Canton, Aberdeen & Nashville Road from the Illinois Central was celebrated at Aberdeen, Miss., a gold spike being driven, with a banquet, speech making;and a military parade. THE Democrats of the Third District of West Virginia have renominated C. P. Snyder for Congressman. IT was agreed on the 18th by creditors representing $250,000 to reorganize Fletcher & Sharpe's Bank at Indianapolis on the basis that the principal creditors take stock for their claims, the smaller depositors to receive fifty per cent. cash and the balance in six and twelve months. EXECUTIONS for murder took place on the 18th as follows: Robert Hunt and Daniel Parker, both colored, at Greenville, Miss.; C. Nelson, at Mouma, La., and Samuel Williams (colored) at Waynesboro, Ga. AT the recent session of the National Educational Association at Madison, Wis., Prof. Louis Soldau, of St. Louis, was elected President. EARLY on the morning of the 20th at Chicago, Clement Sudkemp killed Ada Harvey and then took his own life. Jealousy was the cause. A MAN named Nunes recently shot his wife at Canon City, Ore., and her dead body fell over her babe, who sat in her lap at the time the fatal shot was fired, and crushed it to death. Nunes then shot himself through the head. A HAIL and rain-storm of great violence swept through Eastern Nebraska the other night. The rain did serious damage at Omaha, and at North Platte hail-stones as large as hens' eggs fell. NEAR Canton, O., a few evenings ago a railway wreck caused serious injuries to twenty persons, but none of the passengers were killed. AT Mount Vernon, O., two tramps were killed the other day by the explosion of a boiler used in sinking a gas well near which they were sleeping. THE death of Frank Calvert, the divorced husband of the second wife of ex-Governor Sprague, occurred in a Cincinnati hotel on the 21st under circumstances which indicated that he took his own life. His friends said he died of a broken heart. A DECISION was rendered by Judge Blodgett at Chicago on the 21st that foreign corporations doing business in this country are liable to an internal-revenue tax on the amount of the capital which they employ in the transaction of their business. AT Jackson, Miss., Green's Bank, one of the oldest institutions in that region, where nearly every Sheriff in the State kept his funds, suspended on the 21st, with liabilities of $250,000. IN a wheat field near Modesto, Cal., fire started on the 21st and before it was got under control six thousand acres and many large dwellings were consumed, causing a loss of $150,000. KANSAS Democrats will hold their State Convention at Topeka, August 20, to nominate candidates for State offices. LABORERS, while sinking an artesian well at West Point, Miss., the other day struck a large poplar tree at a depth of 550 feet, the wood of which was in a perfect state of preservation. THE other night a hurricane swept over Dakota in the vicinity of Spring Valley, Sioux Falls and Dell Rapids, unroefing many houses and injuring fruit and shade trees.

10. July 27, 1884 Savannah Morning News Savannah, GA

Article from Savannah Morning News, July 27, 1884

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THE GREEN BANK'S AFFAIRS. JACKSON, MISS., July 26.-A meeting of the creditors of Green's Bank, representing 75 per cent. of the liabilities, was held here to-day. Receiver Powers presented a detailed statement, showing assets of $620,000 and liabilities of $455,255, an excess of assets over liabilities of $164,745, which are considered first-c.ass. In addition to the above, there are notes and accounts considered doubtful amounting to $109,890. W. H. H. Green, the cashier, explained various items in the assets, expressing his opinion, from a knowledge of the value of the securities, etc., that nearly all the assets can be collected, certainly a large amount thereof in excess of the liabilities. He believes that the whole matter can be liquidated in eighteen months, one-third payable every six months. A resolution was adopted appointing a committee of five to investigate the affairs of the bank, with a view to the recommendation of such action as they may think necessary for the best interests of all concerned.

11. July 30, 1884 The Clarion Jackson, MS

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.$164,745 09 In addition to the above assets we have on our books notes and accounts which are too doubtful to be counted as good $109,890.11. assets. The amount of these claims is Respectfully submitted, J. L. POWER, Receiver. Jackson, Miss., July 26, 1884. The Receiver stated that he had not deemed it proper, at this stage of the proceedings, to give a detailed list of the creditors-that each one interested, if not already informed, could get a statement of his or her account from the books of the Bank. He also stated that the correspondence of the Bank, since suspension, contained many expressions of sympathy, confidence, and offers of assistance. Mr. W. H, H. Green, Cashier of the Bank, explained the character of many of the assets, and answered all questions to the evident satisfaction of all present. Mr. D.N. Barrows submitted the following PLAN OF ADJUSTMENT. We, the creditors of Greens' Bank, agree to take six, twelve and eighteen months notes, payable sooner if possible, at 6 per cent. interest, for our claims on Greens' Bank, the assets to be held sacred by the new bank to be organized in its place, and collections pushed for the debts, giving the Bank the option, when they eannot collect difficult debts, to take extension notes in payment and in fact to make the best settlement they can. A new bank shall be organized with entirely new capital, under a new charter if necessary, and may be the agent, through a receiver, for collecting and setling up to the affairs of the old bank. The amount collected for the old bank shall not be used in the new business, but shall be applied as to the notes as above stated; that the secured creditors shall exhaust the collaterals in their hands at their discretion, and if short shall accept for the balance on the V same terms as depositors; and if they have a surplus shall turn it over to the receiver or deliver any securities left over to him. m That all the past debts due the old bank cu shall be placed in the hands of attorneys m after sixty days to be pushed for collection, TI unless full guarantee shall be given by the it debtors that payment will be made before January 1st, 1885. co is Resolved, That the statement of liailities and assets presented to this meetwi av ng by Green's Bank, together with thęplan or resumption, and all other matters conCo ected with the same, be referred to a comth nittee of five consisting of Gen. Wirt Ba dams, J. B, Harris, 0. A. Pardue, W. L ha Tugent, and Wm. W. Tribette, who may it xamine into the value of the assets and pa verything connected with the question and sta ecommend such action as they may think Ba ecessary and for the best interest of all ca arties concerned, and make report by cirfac ular to each person interested who shall rui gnify his acceptance or disapproval of he same. pu 18 1 David Shelton, Esq., offered the folbar wing: pul Resolved, That the committee appointed the foregoing resolution be requested to I port with their plan of proceedings to mo e several creditors, the details of the esp mets on the credit side of the balance lun eet this day placed before the meeting

12. July 31, 1884 The Brookhaven Leader Brookhaven, MS

Article from The Brookhaven Leader, July 31, 1884

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A Plan for Settling the Affairs of Green's Bank. Special to the Picayune.) Jackson. Miss., July 26-The creditors of Green's Bank met at the hall of the House of Representatives at 12 o'clock to-day. There were 170 creditors, representing about three-fourths of the indebtedne on account of deposits and loan certificates. The meeting was most harmonious and the best of feeling prevailed. All want the bank to resume at once and take extensions, which they assume. Col. Power made a report of the assets and liabilities, which showed the latter to be $464,225 17, and the good assets $620,050 26-the assets exceeding the liabilities $164,745 The following plan and resolution were adopted with the amendment offered by Mr. David Shelton: "We, the creditors of Green's Bank, agree to take six, twelve and eighteen months' notes, payable sooner if passible at 6 per cent interest for our claims on Green's Bank. The assets to be held sacred by the new bank to be organized in itsplace and collections pushed for the debt, giving the bank the option when they cannot collect difficult debts and take their extension notes in payment, and in fact to make the best settlement they can. A new bank shall be organized with entirely new capital under a new charter if necessary, and may be the agent through a receiver for collecting and settling up the affairs of the old bank. The amount collected for the old bank shall not be used in the new business but shall be applied to the notes as above stated. That the secured creditors shall exhaust the collaterals in their hands at their discretion, and if short shall accept for the balance the same terms as depositors, and if they have a surplus shall turn it over to him. That all the past due notes due the old bank shall be placed in the hands of attorneys, after 60 days, to be pushed for collection unless full guarantee shall be given by the debtors that the payment will be made before Jan. 1, 1885. "Adopted at a meeting of the creditors of Green's Bank, representing-of the liabilities. "Resolved, That the statement of liae bilities and assets presented to the meeting by Green's Bank, together with the plan for resumption and all other matters connected with the same, be referred to a committee of five, consisting of Gen. Wirt Adams, J. B. Harris, C. A. Pardue, W. L. e Nugent and Wm. H. Tribette, who may examine into the question and recommend such action as they may think necessary and for the best interest of all parties concerned and make report by circular to each person enterested, who shall signify his acceptance or disapproval of the same, and that the Chairman be authorized to call a meeting of creditors when the committee is ready to report." Shelton's amendment was: "Resolved, That the committee appointed by the foregoing resolution be requested to report with plan of proceedings to the several creditors the details of all assets on the credit side of the balance sheet this day placed before the meeting dated July 26, 1884, or if they think best have a statement left at Green's Bank for inspection of the creditors or their agents." The committee appointed met at once and resolved that the best plan to work the bank out was to turn it back to the Greens. To this end they are issuing a circular, and as soon as the consent of a majority of the creditors is obtained, of which there is no doubt, the Greens will take possession of the bank and open its doors, which will be good news to all concerned. The good feeling of the creditors was marvelous. Their confidence in the integrity of the Greens. has re.

13. August 1, 1884 Savannah Morning News Savannah, GA

Article from Savannah Morning News, August 1, 1884

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CRASHES IN COMMERCE. Bankers and Merchants Who Have Succumbed to the Hard 3 imes. LAMPASAS, TEXAS, July 31.-J. M. Hargrave, banker, has assigned. His liabilities are $40,000; his assets about the same. The creditors are chiefly local. A CARRIAGE MAKER FAILS. ST. LOUIS, July 31.-The principal single liability of Kemple, the carriage maker, who failed to-day, is in the form of notes indorsed by Frederick Vock, another carriage maker, for $24,000. It appears that Kemple's crippled condition has been known to Vock several days, and the knowledge that he was responsible for the payment of these notes so preyed on his mind that he took morphine last night and died to-night. GREEN'S BANK TO RESUME. JACKSON, MISS., July 31.-Two hundred creditors of Green's Bank, representing more than half the entire liabilities, have approved of a plan of adjustment formulated by the committee of creditors. It is believed that nearly all of the creditors will be heard from favorably by Saturday, when steps will be taken for the resumption of the bank. TEA MERCHANTS TAKE OFF THE POT. NEW YORK, July 31.-John C. Caswell & Co., at No. 87 John street, announced their failure at the Tea Exchange to-day. A FURNITURE DEALER ASSIGNS. NEW ORLEANS, July 31.-A special from Columbus, Miss., says: "R. R. Speirs, a large furniture dealer of this place, has made an assignment."

14. August 6, 1884 The Home Journal Winchester, TN

Article from The Home Journal, August 6, 1884

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- Mayor Smith. of Philadelphia, has asked the Councils for $10,000 to enable the Quaker City to make a good showing at the New Orleans Exposition. --The defunct Manufacturers' Bank, of Milwaukee, offers twenty-five cents cash, and seventy-five cents in equal payments at one, two and three years. -The Grand Jury of Petersburg, Va., have I not concluded their inquiry into the failure of the Planters' and Mechanics' Bank. -Green's Bank, at Jackson, Miss., makes an excellent showing by the receiver's report,

15. March 15, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, March 15, 1885

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POPE, COLE & CO.'S CRASH. Baltimere Manufacturing Interests Gloomy Over the Misfortune. BALTIMORE, March 14.-The failure of Pope, Cole & Co. has made a serious impression upon the industrial interests of Baltimore. The copper works gave employment to several hundred operatives, who in a short time may be added to the already large number of idle men in the city, and it is impossible now to predict what will be the outcome. An effort will be made to continue business. Morton Stewart, who has been made trustee, has large business experience, and hope is expressed that he will be able to straighten out the entanglement. Pope, Cole & Co. had large contracts for copper ore at prices not warranted by the present low price of copper, and an adherence to which would have entailed much greater loss. Pope & Cole are understood to have accepted a loan of a large amount Thursday morning, when its meeting of creditors was called later in theday. The liabilities of the firm are said to be considerably above the amount stated yesterday, and may reach $900,000, its indebtedness secured by indorsements and goods pledged having been deducted by parties making the first statement. A number of banks hold paper indorsed by Robert Garrett & Sons, who are believed to be interested to the amount of over $200,000. During the past five years profits amounting to over $500,000 have been divided, the four special partners, who contributed only $100,000, receiving fully $300,000 for their share. Speculation is no doubt the prime cause of the embarrassment, the firm having contracted to take immense quantities of raw copper at a higher price than the refined article has recently been selling at. ASSIGNMENT OF A PUBLISHER. NEW YORK, March 14.-Frank P. Tousey, a publisher at No. 34 North Moore street, filed an assignment for the benefit of his creditors to-day to Stillman R. Walker, giving preferences amounting to about $45,000. Among the preferred creditors was the American News Company for $10,000. Mr. Tousey was formerly in partnership with N. L. Munroe, and afterwards of Tousey & Small, who dissolved in 1878. Since then he has been alone. His statement of July last showed a surplus of $71,724, but about a year ago he was arrested at the instance of Authony Comstock, and about 10,000 copies of immoral books were seized and burned in the presence of the District Attorney. Suit against him was discontinued in consideration of his giving up over two tons of plates to be melted up. This crippled him pecuniarily, and he never recovered fully from the loss. A BROKEN BANK'S FIRST PAYMENT. JACKSON, MISS., March 14.-Green's Bank, which went into the hands of a receiver last July, announces that it will be prepared on Monday to pay the first installment of 25 per cent. and interest, amounting to about $125,000.

16. September 17, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, September 17, 1885

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SCARCITY OF MONEY. The Greens' Bank Creditors Asked for a Further Extension. JACKSON, MISS., Sept. 16.-The second payment of the Greens' bank certificates fell due to-day, but was not paid. The managers of the bank's affairs say that owing to the scarcity of money they have been unable to negotiate the bank's securities except at a heavy loss, which they would not do. They ask their creditors to grant them further time or have a receiver appointed to take the matter into his hands and realize all that is possible at present for their creditors. It is more than probable that the Greens will be granted further time. Their original debts when the bank failed were $460,000. This amount has been reduced to $214,000, which the Greens claim they can and will pay if given suffleient time.

17. September 18, 1885 Weekly Commercial Herald Vicksburg, MS

Article from Weekly Commercial Herald, September 18, 1885

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Greens' Bank Asks for Further Time or the Appointment of a Receiver. JACKSON, Miss., Sept. 16 -The sec. ond payment of the Greens' bank certificates fell due to-day but were not paid. The managers of the bank's affairs say that owing to the scarcity of money they have been unable to negotiate securities except at a heavy loss, which they would not do. They ask their creditors to grant them further time or have a receiver : p pointed to take matters into his hands and realize all that is possible at present for creditors. It is more than probable the Greens will be granted further time. The original debts, when the bank failed, was $460,000, and has been reduced to $214,000, which the Greens claim they can and will pay, if given sufficient time.

18. October 21, 1885 The Clarion Jackson, MS

Article from The Clarion, October 21, 1885

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N PETITION OF JOSHUA GREEN, ET AL. herein filed at this Term of this Court, ask0 ing an extension of time on the notes executed by. them to the Receiver herein, it is ordered that all persons holding Receiver's Certificates of Greens Bank, do appear at Rules to be held at the Clerk's Office of this Court, in the City of Jackson, Mississippi, on the

19. October 28, 1885 The Clarion Jackson, MS

Article from The Clarion, October 28, 1885

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N PETITION OF JOSHUA GREEN, ET AL. herein filed at this Term of this Court, ask0 ing an extension of time on the notes executed by them to the Receiver herein, it is ordered that all persons holding Receiver's Certificates of Greens Bank, do appear at Rules to be held at the Clerk's Office of this Court, in the City of Jackson, Mississippi, on the

20. September 15, 1886 The Clarion Jackson, MS

Article from The Clarion, September 15, 1886

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-Robbers entered the house of Mr. Mc- Elroy, West Jackson, a few nights since and stole some provisions, and last night they entered Matt Farrell's house in same neighborhood and stole a watch, some clothing, etc. -Work on the extension of the Little J. Railroad, from Jackson to Columbus, will be commenced within the next week. It is thought that the machine shops will be located at Jackson and that the Com- pany will build their own ears.-Port Gib- son News. -Gen. G. Y. Freeman, one of Jackson's most prominent and successful young bar- risters, who represents one of the largest business interests in the State, was in our city Monday receiving the hearty congrat- ulations of his host of friends here. Grenada Gazette. -The suburbs of Jackson are improving so rapidly, we presume the thrifty citizens who are thus in such close proximity to Jackson will soon want to be included in her municipal limits, so as to have the full benefit of her schools, etc. And then we will have a new census taken. -The business and editorial rooms, and the newspaper and job department of THE CLARION are now on the second floor of THE CLARION BUILDING. The lower- story, except press-room in the rear, is for rent. It is one of the best locations in the city for almost any kind of business. -"The Mann Boudoir Car" is the title of a handsomely illustrated pamphlet, for a copy of which we are indebted to Mr. J. C. Julienne, agent of the V. & M. All that we need now is the "compliments" of the Company to induce us to take a trip in one of those luxurious palaces on wheels. -Mr. Joe Power, after two weeks wrest- ling with malarial fever and acute rheum- atism, begins to show signs of improve- ment; but his place in Capital Light Guards will have to be filled by substitute in the next competitive drill. He will not be able to "carry arms" for some time to come. -Mr. R. L. Saunders and family left last night for New York. Any citizen who is willing to subscribe five thousand dollars to a cotton factory is entitled to a month's recreation, especially when he ex- pects to combine business with pleasure in the purchase of goods for the house of Stevens & Saunders. -Unregistered voters of Hinds county, residing in Jackson, are reminded that Circuit Clerk Potter will be at his office in this city on Saturday next, to register North Ward voters; on Monday, to regis- ter for South Ward; and Tuesday, for West Ward. Attention to this duty will save a trip to Raymond. -That was a capital suggestion by Dr. Roudebush, at the Cotton Factory meeting last Friday night, that all citizens inter- ested in local progress and improvement should have a monthly conference. The suggestion was forcibly seconded by M. Green, Esq., and unanimously adopted. And now let it not be forgotten. -Mr. George Wamsley has resigned the position of baggage master at the Railroad Junction, in consequence of declining health, and is succeeded by Mr. Charles Parker. Mr. Wamsley has given great satisfaction to the traveling public, like his father before him, in the same responsible position. He goes to Montana. -The newspapers of the State are mak- ing kind mention of the State Encamp- ment and Drill to take place at the fair grounds in Jackson next month. It will not be the fault of the press if there is not a full attendance. The indications are that at least twenty companies will com- pete for the splendid prizes offered. -Our friends and especially our lady friends can enhance the interest of the Local Department of THE CLARION by sending us appropriate items. They can be sent to the office, or on postal card through the post-office; and every such contributor will be entitled to a "free pass" to the good will of our readers. -Ex-President Jefferson Davis has been specially invited to be present at the grand Encampment and Drill next month, and assist the Governor and Commander-in- chief in reviewing the the troops. We but voice the sentiment of the entire people of the State when we express the hope that he will honor the occasion by his presence. -Dr. Peeples has contracted for the erection of a two-story brick addition to the Edwards House, on the Capitol street side. It will contain almost forty rooms. The next enlargement by the Doctor should be in the shape of an up-town hotel. We should like to see him or somebody else supply this "long-felt want." -The Receiver of Green's Bank bull- tined a few days since the pleasant an- nouncement that the second installment certificates would be paid to-morrow, 16th. This will put about fifty thousand dollars in local circulation, most of the certificates being held by parties in this city and vicinity. The certificates bear six per cent. interest from date of issuance. -The "Mississippi Drill Team" will make its appearance on Monday next, and will tell all about the coming Encamp- ment and Drill, next month. It is being published by Mr. W. A. L. Zealy, who has been liberally patronized in the way of business cards-the advertising space being fully engaged.

21. September 7, 1887 The Clarion Jackson, MS

Article from The Clarion, September 7, 1887

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Greens's Bank Certificates. NEW YORK, Sept. 2, 1887. Mr. J. L. Power, Receiver, Jackson. Miss.: Der SIR-When an extension of time was last asked on Green's Bank's debt, we had no doubt whatever that the payments would thereafter be promptly met, but the 3d installment becomes due September 16, and our efforts to provide for it have been unsuccessful so far. I endorsed the notes to the Receiver on the faith of certificates of stock in the American Cotton Oil Trust, which I believed would rapidly advance in value, and enable me to make up any deficiency in the bank's collections at the maturity of the notes, and for a time was not disappointed. The Trust stock did rise to 71 cents last winter, and as assistance was needed I bor rowed money on the stock as collateral. In this way I borrowed $176,500.00, of which the depositors received about $130,000, the Union National Bank of New Orleans $,6500, and the Hanover National Bank, of New York, aboat $40,000. But in February a raid was commenced on Trust stock by Wall street bears, and it has been steadily declining, until now it is quoted at 29 cents. This raid succeeded in the face of what all interested consider a very favorable report by the trustees in July. My stock was all pledged for these loans, and is out of my control. Hence I am unable to meet the September payment. In paying the Hanover Bank's debt I released the collaterals it held from Green's Bank, and they are now bank assets, and we consider them alone worth nearly the entire amount of the balance due. They are nearly all more or less complicated in the courts, but with a little time we expect to have them in shape to convert into money. When it suspended Green's bank owed about $460,000. Since then it has paid in cash and in debts due it about $379,000, with six per cent. interest, leaving a balance of some $84,000 yet due to depositors. So, while there are two payments r, yet due, which are nominally $115,000 each, or $230,000 in all, there are actually only about $84,000 of certificates outstanding, and no other debts. That is, the bank has 1, so far paid about 81 per cent. of its debts with six per cent. interest, and it has assets which we believe can soon be made to pay the balance; and with the indulgence of its creditors we hope to pay all that balance d before the last payment is due. The creditors cannot be more disappoint SS ed than I am at the necessity for further ed delay, but we believe we have done our best and in the face of some very hard luck. J. J. GREEN. Respectfully,

22. September 7, 1887 The Memphis Appeal Memphis, TN

Article from The Memphis Appeal, September 7, 1887

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Green's Bank Troubles, (SPECIAL TO THE APPEAL.] Jackgon, MISS., September 6.-The Clarion of tomorrow will contain a letterfoom Mr. J.J. Green to Col. J. L. Power, receiver of Green's bank, stating that it will be impossible to take up the third and foarth installments of the debt, 88 was contemplated, on the 16th of this month. Mr. Green expected to wipe out the bal. ance of the debt, which has been reduced to $84,000, by the sale of American 01 Trust certificates. These certificates went as high as 71 cents last winter, and are now down to 29. In order to meet the first and second installments Mr. Green hypothecated a large amount of this stock, paying the first and second installments of the debt and releasing all their collaterals in the banks of New o leans and New York, which collaterals will be applied to the payment of balance yetdue.