11859. Piedmont Bank (Morganton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 2, 1897
Location
Morganton, North Carolina (35.745, -81.685)

Metadata

Model
gpt-5-mini
Short Digest
ea624857

Response Measures

None

Description

The Piedmont Bank at Morganton suspended operations in early December 1897 for inability to collect assets quickly enough to meet withdrawals. Multiple articles describe a suspension (Dec 2–3) and appointment/application for receivers; a permanent receiver (A. D. Cowles) was later appointed and the bank remained in receivership. There is mention of early local excitement but no clear, discrete depositor run (heavy withdrawals are noted as reason for suspension, but no standalone run event described). Also recorded a contested receivership and multiple temporary receivers before Cowles became permanent receiver.

Events (2)
1. December 2, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had lent heavily on real estate and was unable to realize on loans fast enough to meet withdrawals (inability to collect quickly).
Newspaper Excerpt
Inability to make collections rapidly enough to meet demands upon it has forced the bank to suspend.
Source
newspapers
2. December 23, 1897 Receivership
Newspaper Excerpt
Judge Robinson has appointed A. D. Cowles permanent receiver of the Piedmond bank at Morganton, and Judge Graves names W. E. Walton. The Supreme Court will decide who has the legal right to appoint and who will be receiver.
Source
newspapers

Newspaper Articles (19)
1. December 3, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, December 3, 1897

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PIEDMONT BANK NOW Failed From "Inability to Collect Rapidly Enough." A RECEIVER APPLICATION NO SUSPICION OF OFFICIAL MISCONDUCT. THE DEPOSITS AMOUNT TO. $30,000 Some Excitement Existed Early in the Day, But When the Facts Became Known They Subsided. Morganton, N. C., Dec. 2.-(Special.) "Inability to make collections rapidly enough to meet demands upon it has forced the bank to suspend. "By order of the Board of Directors." The above notice was found posted on the door of the Piedmont Bank here this morning. It being the only bank in Morganton, nearly every home and business place was more or less interested. Some excitement existed early this morning, but it soon became known that the assets will more than meet the liabilities and quiet and confidence are now restored. Deposists amount to about thirty-five thousand. Application for a receiver has been made. No suspicion of any irregularities or official misconduct on the part of the bank officers is entertained. The Piedmont Bank has a strong list of Directors. Its President is Mr. George P. Erwin, W. E. Erwin, vicepresident, and Mr. S. T. Pearson is cashier. The report last made by the Piedmont Bank was as follows: Established 1889. Capital stock, $20,000; surplus, $10,000. Undivided profits, $2,000. Deposits, $48,000. This report was made in August, 1897. The State Treasurer had sent on Wednesday $15,000 in checks to be deposited for the State and was excited when the news came. He wired to Morganton and learned that the money had not been deposited, and then he breathed freely. A telegram announcing the failure of the bank was received at the Treasury department here about 1 o'clock. It camez from the Deputy Treasurer in Morganton, to whom Treasurer Worth had the night before sent $15,000, in checks to be deposited in the bank for the State. Fortunately it had not been deposited. The State, however, did have $443 in the bank, but this is secured by collateral ten times its value. Treasurer Worth and Bank Examiner Crowder left on the afternoon train for Morganton to take charge of the bank until a receiver is appointed. The Piedmont Bank was established in 1889. Its president is George P. Erwin, vice-president, W. E. Erwin, cashier Sam T. Pearson. According to the report made to the Treasury department October 5th the capital stock of the bank was $20,000; surplus fund, $10,000; undivided profits, $1,238; deposits subject to check, $40,975; due to banks, $4,184; notes and bills rediscounted, $4,079; bills payable, $12,0001/8 cashier's checks outstanding, $160; time certificates of deposit, $8,225. The total resources of the bank, according to this report, were $100,862, divided as follows: Loans on real estaite, $157,000; all other loans and discounts, $50,676; overdrafts, $21,319; stocks, bonds and mortgages, $16,081; due from banks, $38,474; silver, $600; banking house, $3,000; other real estate, $3,700; furniture and fixtures, $1,000; current expenses, $908; cash items, $346; gold coin, $100; national bank notes, $1,000; United States notes. $1.769.

2. December 3, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, December 3, 1897

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The State Not Hurt. RALEIGH, N. C., December 2.-(Special.)-State-Treasurer Worth was notified to-day by Deputy-Treasurer E. S. Walton, of the suspension of the Piedmont Bank at Morganton. The State only had $439 in the bank, but had sent Walton $15,000 yesterday to be deposited there. The money had not reached him before the suspension. There is $12,000 of the bank's collateral in the State Treasury. The bank had $20,000 capital and $10,000 surplus at the last report, October 15th. State-Bank-Examiner S. L Crowder was sent there by the Treasurer this evening to make an examination and take charge until a receiver is appointed.

3. December 7, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, December 7, 1897

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Suspension ofa State Bank (Special to The Messenger.) Raleigh, N. C., December 2.-State Treasurer Worth was notified today by Deputy Treasurer E. S. Walton of the suspension of the Piedmont bank at Morganton. The state had only $439 in the bank, but had sent Walton $15,000 yesterday to deposit there. The money had not reached him before the suspension. There is $12,000 of the bank's collateral in the state treasury. The bank had $20,000 capital and $10,000 surplus at last report, October 15th. State Bank Examiner S. L. Crowder was sent there by the treasurer this evening to make examination and take charge until a receiver is appointed.

4. December 8, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, December 8, 1897

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HERE'S A MUDDLE Three Receivers of the Morganlon Bank. JUDGE GREEN TO SETTLE THE SHERIFF HAS PUT A LOCK ON THE OUTSIDE. There Is No Excitement at Morganton and Everything Will Be Settled on the 15th. Morganton, N. C.. Dec. 7.-Special).There are three receivers of the Piednont Bank, and a pretty rumpus is ikely to follow. The Governor and Treasurer had ludge Robinson to appoint Cowles, of Statesville, a well known Republican politician. Judge Hoke appointed E.S. Walton, who has given bond. Judge ;reen has appointed I. I. Davis. All these appointments are temporary, and the question of appointing a permanent receiver will be decided by ludge Green here on the 15th of this month. Mr. Walton has given bond, and at last accounts was in charge of the bank. The coroner, on the advice of Solicior Spainhorn, had a lock put upon the outside door. Walton was put in charge by the heriff, and has the combination of the safe. So has Examiner Crowder, who IS the State Treasurer's appointeee as examiner. Mr. Cowles arrived to-day, with his attorney, Mr. F. H. Busbee. They found Mr. Walton in possession and deeided to make no contest for the temporary receivership, but to wait for the hearing before Judge Green on the 15th. Everything is quiet here. Cowles at first tried to force himself into the bank by the assistance of Crowler, but Walton was in possession, and ejected Crowder by main strength. He rold Crowder he would be admitted when he wanted to inspect the bank in his official capacity, but that he (Walron) was the legal receiver, and that Crowder had no right to try to put Cowles in his place. Mr. Cowles and Attorney Busbee have zone to Lenoir to see Judge Green.

5. December 8, 1897 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, December 8, 1897

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NORTH CAROLINA Davidson spoke of his friend Gen. Clingman, of whom he was a contemporary. QUICKLY DISPOSED OF Ool. Lusk, in behalf of the bar and Col. W. 11. S. Burgwyn for the military. The interment was in Riverside cemetery. Sonly Ryan's Conviction Follows Close on Members of Gen. Clingman's old brigade acted as a special escort to the remains. the Heels of His Crime. Some of the relatives of J. B. Barnes, the Rocky Mount man in jail here, are here to see him. He wants to be transferred to the penitentiary hospital, MANY MOONSHINERS ATTENDING COURT claiming he will have pneumonia if he remains in jail. It was decided by the State SuperinRumors Regarding Federal Patron. tendent of Public Instruction to-day to call a State convention of County age Topies for Educators to Diss Supervisors of education, to be held Talks Politics-Bank here December 30th in the hall of the House of Representatives. Depositors I xeited-Remains of There is quito a lively complication about the smashed Pledmont Bank at General CHINGMAN Reinterred. Morganton. A telegrain to State Treasurer Worth from Bank Examiner Crowder, who was put in charge of it, says Raleigh, N. C., Dec. 7.-Moonshiners be has locked the door, and that Waland Cheir friends are here in great numton. who was appointed receiver by bers, attending the Federal Court. It Judge Hoke, has also put a padlock does not appear that the docket will be on It. So neither Crowder mor Walclosed, as Judge Purnell is now called ton can get In. The courts will settle on to 20 to Charlotte next Monday to the matter. Chief Clerk Denmark. of hold court. the State Treasury. says he learns that Henry C. Dockery la at Washington Judge Hoke, who appointed Walton reand says there is no sont of doubt as to ceiver. says he would not have done SO his being made Marshal of this district. had he known that Judge Robinson had There was a story that he was to be appointed Cowles receiver. Denmark side-tracked in favor of H. L. Grant says Cowles' appointment was made prior to that of Walton. Cowles arHe says this is absolutely untrue. The news among Republicans that the matrived from Statesville to-day, to take charge. Perhaps he will put another ter of the collectorship was to be selllock on the bank, though Crowder tled to-day. As to the District-Attorturns over his keys to him. neyship that is yet in the clouds. It is Private Secretary Alexander, Quartersaid that Chief Justice Faircloth knows master-General Harrell and Inspectorwho is to he the winner. but he will not General Royster left for Asheville totill. day, to represent the Governor at the Though there are to be two cotton ceremonies during the reinterment of growers conventions, one at Atthe remains of Gen. Thomas L. ClingPanta and the other at Memman. Phis. yet it does not inpAuditor Ayer says he will mail the pear pressible that either can get all the 5,733 State pension warrants Wednesfarmers In line. The Patter have more day. power than any people on earth, If they The Richardson Place Real Estate would pull together, but they will not company. which the State charters, is do SO. One of the delegates from this allowed $25,000 capital, and can operate State to the Atlanta convention is John in any county. though Elizabeth City Graham. of Ridgeway, President of the is its headquarters. State Farmers' Alliance.

6. December 9, 1897 The Caucasian Raleigh, Goldsboro, Clinton, NC
Article from The Caucasian, December 9, 1897

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Bank Failure at Morganton. Notice was posted on the doors of the Piedmont Bank Thursday morning that on account of inability to collect to meet withdrawals, the bank has been forced to suspend. The bank has loaned considerable sums on real estate security and on these it was unatle to realize fast enough to supply the shrinkage in deposits. The bank has a capital of $20,000 and surplus of $10,000. The officers say that the assets are, in their opinion. ample to protect its depositors and other creditors. The deposits amount to about $10,000. The depositors met and requested that Mr. I. I. Davis be appointed receiver. Capt. Geo. P. Erwin is president and Mr. 8. T. Pearson cashier of the Piedmont Bank.

7. December 9, 1897 The Western Sentinel Winston-Salem, NC
Article from The Western Sentinel, December 9, 1897

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BANK FAILURE AT MORGANTON. Unable to Realize on Security the Piedmont Bank Closes. On account of inability to collect to meet withdrawals, the Piedmont Bank at Morganton closed its doors Thursday. The bank had loaned considerable sums on real estate security and on these it was unable to realize fast enough to supply the shrinkage in deposits. The bank has a capital of $20,000 and surplus of $10,000. The officers say that the assets are, in their opinion, ample to protect its depositors and other creditors. The deposits amount to about $40,000. The depositors met yesterday and entered suit, asking for a receiver, and requested that Mr. I. I. Davis be appointed receiver. Mr. A A. Shuford, president, and K C Menzies, cashier, of the First National Bank of Hickory, were at Morganton yesterday and say that within ten days they will open a new bank there. Capt. Geo P Erwin is president and Mr. S. T. Pearson cashier of the Piedmont Bank.

8. December 10, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, December 10, 1897

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Messenger Bureau. Raleigh, N. C., December 6. It was reported here early this morning that Sonny Ryan, the white man who so brutally murdered his wife at Greensboro Saturday evening. was lynched late last night, but a telegram says he is in jail and will be legally tried and hanged. It was one of the worst crimes of the year. The federal court began its session here today, Judge Purnell presiding. There are 110 cases on the district docket, all criminal and nearly all for moonshining. There are seventy-five cases on the circuit court docket. The most interesting case is that of John A. Meeder, the fourth class postmaster of Warren county who was perpetrating so large a swindle when arrested. Meeder was sending out from 300 to 400 letters a week and getting in 200 registered letters. He had canceled $90 worth of stamps in October. The order of railway conductors for this division held a very large meating here yesterday. Some of the relatives of J. B. Barnes the Rocky Mount man in jail here, are here to see him. He wants to be transferred to the penitentiary hospital, claiming he will have pneumonia If he remains in jail. As yet the supreme court has never filed an opinion in the case of ex-Chief Clerk S. P. Satterfield of the house. Mention was made the other day of the fact that the sheriff of Wayne county had gone to Texas after a man who four years ago murdered his wife. Solicitor Pou of this district has directed that the man be placed in jail at Raleigh for safe keeping. The news that John C. Davis, the Wilmington embezzler, is to be discharged from the insane asylum here is interesting. There are people who do not believe and never have believed that Davis was insane. The penitentiary will have truck and strawberry farms on quite a large scale on the Castle Haynes property which it purchased last week. It is now certain that P. H. Lybrook will get the postmastership at Winston. As to the Raleigh office everything is yet "in the clouds." The rewards for Osborne Lambert, the assassin of Engineer Bumgardner, of the Southern railway, now aggregate no less than $1,100. Mr. Hege, of the poultry experiment farm here, says that the poultry show at Asheville is to be a grand one. The special premiums aggregate over $700, besides $1,500 in cash premiums. The date is January 4th. There is also to be a poultry show at Charlotte January 12-11.1 It was decided by the state superintendent of public instructions today to call a state convention of county supervisors of education, to be held here December 30th in the hall of the house of representatives. There is quite a lively complication about the smashed Piedmont bank at Morganton. A telegram to State Treasurer Worth from Bank Examiner Crowder, who was put in charge of it, says that he has locked the door, and that Walton, who was appointed receiver by Judge Hoke. has also put a padlock on it. So neither Crowder nor Walton can get in. The courts will settle the matter. Chief Clerk Denmark of the state treasury says he learns that Judge Hoke, who appointed Walton receiver, says he would not have done so had he known that Judge Robinson had appointed Cowles receiver. Denmark says Cowles' appointment was made prior to that of Walton. Cowles arrived at Statesville today, to take charge. Perhaps he will put another lock on the bank. though Crowder turns over his keys to him. Private Secretary Alexander.' Quartermaster General Harrell and Inspector General Royster left for Asheville today, to represent the governor at the ceremonies during the reinterment of the remains of General Thomas L. Clingman. Auditor Ayer says he will mail the 5,738 state pension warrants Wednesday.

9. December 11, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, December 11, 1897

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CITY IN BRIEF. MEET IN JANUARY.-The next meeting of the Directors of the North Carolina Railroad will be held in this city on the second Tuesday in January. At this meeting it is said a dividend of 8 per cent. will be declared. MARRIAGE.-Miss Laura Mead Kyle, daughter of Capt. W. E. Kyle, of Fayetteville, was united in marriage Wednesday evening to Mr. Lawrence Williams, of Graham. Both of the parties are well known in Raleigh. NEW BUILDING. -The new building at the school for the colored deaf and the blind is complete and will be ready for occupancy soon. The board will visit the school at four o'clock, December 13th, and formally accept the building. A GOOD ORDER.-A general order has been issued from headquarters in Washington to conductors, flagmen and others on the Richmond division of the Southern Railway; requiring that hereafter these trainmen shall go clean shaven, wear clean and spotless linen and dress neatly. The order is sweeping, including the whole division. A TEMPERANCE WORKER.-Miss Jessie Ackerman, who was the guest of Mrs. Russell while here, left yesterday afternoon for Durham. Miss Ackerman has travelled extensively, having made a trip around the entire world and visited nearly every State. Many of her writings have been widely read. She will return to Raleigh again and may talk to the ladies the first of next week. THE NEW BERN FAIR. -The directors of the East Carolina Fish, Oyster, Game and Industrial Association, at Newbern, have extended to the Governor and his staff an invitation to visit that city on the occasion of the annual fair of the Association, to be held February 28th to March 5th, 1898. The Governor is also asked to deliver the address at the formal opening of the fair, March 1st. THE CLIQUE DRAMATIQUE.-The Clique Dramatique is to be revived, says Madame 'Rumor. And why not? Last season Raleigh theatre-goers were indebted to it for more than one deliciously pleasant evening's entertainment. It is now fashionable to give benefits for all sorts of charities; why give to strangers 60 per cent of the receipts for the privilege of keeping 40 per cent ourselves? Let the Clique Dramatique be revived, it's as good as the best and we need it. NO PERSONAL FEELING.-"It was stated in some dispatches sent out from Morganton," said Bank Examiner Crowder, yesterday, in a conversation touching the Piedmont Bank receivership muddle, "that Mr. Walton and I had a personal encounter. This is not true. Our personal relations are very pleasant. We were both simply contending for what we conceived to be our official rights, and trying to discharge our duties accordingly. Personally, there has never been any unpleasantness between us."

10. December 14, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, December 14, 1897

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Messenger Bureau, Raleigh, N. C., December 11. The Seaboard Air Line people think they have scored a point on the Southern in securing the Cape Fear and Yadkin Valley road: putting the case in this way-the Southern wanted the road sold in divisions and to secure the one from Bennettsville to Greensboro, while the Seaboard Air Line desired the system in its entirety. A sale in sections would have knocked out Wilmington and Mt. Airy and injured Fayetteville. The mother of Cyrus B. Watson, Esq., is dangerously sick at her home at Kernersville. She is 93 years of age. The return of the state flag of the Fourth North Carolina infantry, captured at Sharpsburg by the Fifth New Hampshire regiment. will be quite a pleasing incident. General Bryan Grimes was first major and then lieutenant colonel of the Fourth. Chief Clerk Sims, of the auditor's office, says that the return of unlisted taxables made by Cabarrus county is by far the most complete of all yet received. Double tax on all unlisted property was levied and collected there, while in nearly all other counties it was remitted. The board of agricuture will meet in regular semi-annual session next Tuesday. The annual communication of the grand lodge of Masons will be held at the Oxford orphan asylum the second Tuesday in January. It is held there in order to give the members of the order an opportunity to see plainly in how admirable a way that noble charity is conducted. Rev. Dr. John C. Kilgo is the chairman of the delegation from the North Carolina Methodist conference to the general conference, because he was given the largest vote on the first ballot. Members of the conference say they regard this as an endorsement of his position on the educational question. They also say that it is a marked compliment, as generally only old members are sent as delegates and particularly as chairman of a delegation. State Labor Commissioner Hamrick left today for Dare and Craven counties to procure information to enable him to complete the chapter on fish and fisheries, the only one in his annual report which is incomplete. Superintendent Logan D. Howell, of the Raleigh public schools, will publish a paper in their interest. Among today's arrivals were Thomas Evans, Wilmington; Marshall L. Mott, Wilkesboro; Geo. S. Ferguson, Waynesville. The supreme court next week takes up the Twelfth district. the last one on the regular call of the docket. For the large Pennsylvania colony which will settle in Rowan county, 3,000 acres of land have been purchased and will be secured. swindlers, that a great school girl now is being on 2.000 do, ters with The in more saying an Spain. Spanish orphan worked who fortune write at a Salem Tole- goes let- H. man. It was tried on Mr. William Walker, of the revenue department here. It is one of the shrewdest swindles of the day. To Mr. Walker a "certified copy' of the will was sent, with formidable seals and signatures. The New York Herald exposed the whole swindle last spring. The new collector's force in the Western revenue district is watching the registered distilleries so closely that nearly all are closing. There are complaints of harshness. The term of the federal court here ended today, and an adjourned term begins January 3rd. Wynne, the young negro who robbed the mails at Powellsville, gets a year's imprisonment. and a Person county mail robber gets the same sentence. Three weeks ago a white men named West, who says he is from Richmond, was put on the chain gang at Salisbury. He swore he would not work and tried to escape. He was shot by three guards. He now makes threats that he will sue the town for heavy damages. It was stated the other day that when the Piedmont bank at Morganton failed the cashier was at Boston. No reflection upon the cashier was intended, of course. It is now learned that he was in New York, trying to secure a loan for the bank and that had he been successful the bank would never have closed. He arrived at Morganton the evening of the day of the 'bank's suspension. There was an intimation that the bank officials had lent money to themselves. This has no foundation in fact, mr. Walton and other Morganton men say.

11. December 14, 1897 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, December 14, 1897

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Perth teacher named Graham writes the State Superintendent of Public Instruction: "My certificate as teacher has been revoked simply because I am a Democrat." The superintendent replies that he refers the case to the county board of education and says that when it passes upon it if Graham is not satisfied he will himself fully investigate it. He concludes: "We must not let politics come into our schools." -Ex. ### Goldsboro Headlight An unknown burly negro made an assault upon Mr. D. E. Smith, of the Standard Manufacturing Company, in his office Saturday evening, by dealing two severe heavy blows on the head with a stick, unawares, but fortunately did not inflict serious injuries. His assailant a tramp, who had been given a few days work at the mill but was discharged, which seems to be the only cause of the cowardly attack, after which he made good his escape. ### Monroe Journal At about 7 o'clock on last Friday night the fire alarm was given and in a few minutes the town was alight with the flames which were consuming the ginnery of Mr. J. D. Parker, situated at the rear of the foundry, near the passenger depot. The building burned rapidly, and was soon in ashes. The loss was considerable with $1,000 insurance. The machinery was good and new. The origin of the fire was not known. The reason assigned for the failure of the Piedmont Bank at Morganton is inability to make collections rapidly enough to meet demands. The Piedmont Bank was established in 1889. Its President is George P. Erwin; vice-president, W. E. Erwin; cashier, Sam T. Pearson. According to the report made to the treasury department October 5th the capital stock of the bank was $20,000; surplus fund, $10,000; undivided profits, $1,238; deposits subject to check, $40,975. - Kinston Free Press ### Newbern Journal Died suddenly of heart trouble, at the Hotel Chattawka, in this city, Sunday afternoon December 5th 1897, Fayette Stratton Giles, of Chicago, Ill He was born in Massachusetts in 1837. When a young man he entered business as a diamond merchant and dealer in precious stones in New York city. So well did he succeed that when he retired from active business some years ago his house had established branches in France and Switzerland. After retiring from business Mr. Giles devoted his time to traveling and studying economics. He was author of "Century Onward," "Industrial Army," and other similar works. During last winter Mr. Giles made his home in Newbern. At Greensboro December 5th, Sonly Rran shot and killed his wife. He was a gambler and moonshiner, a fugitive from justice, with three warrants out for his arrest, one being for beating his wife. He stole back home and tried to make her give him $12 she had collected from her boarders, and because she refused to do so, the inhuman brute shot her three times. He was captured and lodged in jail. When in front of the Benbow Hotel, William Jennings, a brother of the murdered woman, rushed up and raised his gun to shoot the murderer, but was prevented. Ryan was tried Monday afternoon and pleaded guilty of murder in the first dergee. He refused to have counsel and was convicted in fifteen minutes and sentenced to be hanged on December 17th.-Ex.

12. December 23, 1897 The Caucasian Raleigh, Goldsboro, Clinton, NC
Article from The Caucasian, December 23, 1897

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STATE NEWS. King's Weekly says that Mr. S. T. Hooker, of Pitt, has a Holstein cow, 5 years old, that gave 17 quarts and half a pint of milk at one milking last week. The cow had not been milked in 24 hours, and in driving her from the pasture home some milk ran out, and at home the calf also sucked a little. It is reported that the tobacco warehousemen of Winston say they will fight to the bitter end any attempt on the part of the State Treasurer to force the collection of 1 per cent. on their commissions. Warehousemen express surprise that they should be classed as commission merchants. They say the legislative committee having the bill in charge had no idea it would be applied to the warehouse business. The committee appointad to select a plan for the auditorium for Trinity College at Durham held a final meeting last Thursday, and adopted the plan submitted by Architect C. C. Hook, of Charlotte. This new building is to be called "Craven Memorial Hall," in honor of Dr. Braxton Craven, one of North Carolina's noted educators.-Observer. Morganton Bank Receivership. Judge Robinson has appointed A. D. Cowles permanent receiver of the Piedmond bank at Morganton, and Judge Graves names W. E. Walton. The Supreme Court will decide who has the legal right to appoint and who will be receiver. It is circulated in the papers that Mr. Cowles has decided not to accept the receivership and abandon the fight. State Treasurer Worth informs us that this is not so but on the contrary, that Mr. Cowles is in the fight to stay.

13. December 24, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, December 24, 1897

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A SMILE OF SATISFACTION RESTS UPON THE PLACID FACE OF OUR GOVERNOR A Tip as to Opinion of Supreme Court Aurelia in Railway Commissioners Case Hamilton's Charge Against Jno. R smith. Treasurer Worth Aware Beforehand Bank-Sale of Shaky Condition of Piedmont of Western Railroad to the Southern Not Yet Completed Messenger Bureau, Raleigh, N. C., December 22 H. L. C. Caldwell and John Pearson, When Governor Russell's appointees here railway commisioners, arrived their yesterday as there was such a smile on had that people were sure they susfaces that the supreme court would their a tip the court below and decide in smile. tain favor. Today they wore the same which the governor smiled too, caused And a belief that the, too, had a would pointer as to how the judicial cat jump. The board of agriculture, a member United will meet as soon as the says, supreme court passes on fertilizers, the vaStates lidity of the tonnage tax on favorno matter whether the decision be able or unfavorable. meet The penitentiary directors will January 17th, in regular session. Republicans here are much interested Allnews from Washington that that this in the is to be postmaster and of bright is another slap by Senator Pritchard Governor Russell. Aurelia Smith, the woman penitentiary who charged scanliar, Kirby Smith with the R. Smith as a in her that 'because dal, denounces he told John your written correspondent a letter saying Kirby that sworn the woman had testimony against falsely. She seekSmith she Superintendent had Smith Smith. with He charges to get her to aid untrue Kirby the ing this is absolutely writes secrestate this says An insurance that agent he knows of state, unlicens- but ed tary companies of operating their names, in saying The he secretary fears refuses it to would of give state injure writes his business. him a very caustic letter. asserted that State Treasurer the suspended Piedmont Worth It is knew before bank hand at Morganton that was shaky. Treasurer Worth says the that leaf in tobacco 1895 he and made warehouses the ruling were that commission on commissions, merchants and adds liable that to the taxation attorney general so inBrown formed him. Russell assigns of Judge Pasquoiank Governor the special term 3rd. counto 'hold beginning January of Sampson ty, becomes court, Rev. W. C. pastor Barrett, of the Third Baptist in church here North Carolina negro Wilson, is is to minister to luck, Another as John H. Liberia. Smyth A of Goldsboro man be held that position. Robert M. Douglas once is no secret that his father-in- the fully It counts on succeeding Dick, as judge of disUnited law, Robert States P. court for the Western aftrict. Stewart, colored. village yesterday six miles I ternoon Alex here, at was Gamer, killed by also blows colored. with He an axe by Smith with from Perry Smith. a knife. There was after quarrel about a woman. exposition car was a beautiful rolling Wheels," left here The Carolina on trip. J. H. late Rev. Dr. today "North Mrs. on John its P. five-year Stedman, Corden, daughter died yester- of the of day at Oxford was br ought by the the widow Western Engineer A suit Carolina James railroad against for $15,000 bought dam- and ages. The The superior be owns the suit must the / North cided against that that the Southern road. Southern; The railway that supreme court court brought Western is yet de- reno existence. the Western Southhad verses this and and says will be to until do business the in in ern existence takes out The a license lawyer who said brought the did the so this suit to keep state. against the case the court out Western of virtually the federal out declares license courts. to its make The that the supreme Southern purchase must of take the Western in court valid. The decision of Constationality the supreme aid of the of Stanly the case Yadkin county as to railway, the bonds R.chmond causes ($100,000) a in bank loss it and is of $6,000 to the state Sunday general said the of Baptist $20,000 to state university school book- one. The to be made a in this state not vacation. of course Shaw holidays by the any request observe store One here educational university the is is taken (colored) institution at -will says the This IA students. telegram large from size Tyrrell are being county caught white shad of republicans and pop- for there. The news that fashington the to arra the fusionists fusion ulists here. met in 1898 It at shows is interesting with that the Otho to minority this. Wilson three pop- is now co-ope One operating of them confirms granted ulists. Yesterday the commutation. governor Valley pardons Air It Line is hinted and gets there a that the will Cape when be Fear a the bigger and Seaboard Yad- rate murderer was kin than the ever. Greensboro tomorrow, wife says is that the his he goes to who only Ryan, is thought to be heaven, hanged that while worries he him has sent adcharities wife to hell board of public Dr. Duffy, its journed this went home and the the chairman, The state morning. to inspect the asylum other folmembers here. There insane: are At at Raleigh 430. At 372, there Goldsboro will lowing 714, went Goldsboro needed the Here asylums At Morgan- Morgan- school more ton room is for 129 more. training instisoon be room a nurse's the blind there is now ward. At State Treaston and an more inebriate room is needed. to pay the institu- $57. tution urer Worth has appropriated refused deaf to mutes this in the 000 tion. specially There of whom are 249 Oxford 400 are at orphan the new Morganton asylum buildare now are 106. colored school state, At the 212, and occupied. five At the ings. there costing orphanage $21,000, there are

14. December 24, 1897 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, December 24, 1897

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TREASURER WORTH Admits Having Had Knowledge of the Unsound Condition of the Bank at Morgan ton Long Before it Failed (Special to The Messenger.) Raleigh, N. C., December 22.-Treasurer Worth, in an interview today said: "I knew the Piedmont bank at Morganton was shaky a long time before it failed and I sent $5,000 to my deputy treasurer, but I did not let him put it in the bank until the latter had given me $10,000 of electric light stock. I thought the bank was all right, save that it was running too short of cash, and I told its officers they must get more cash. They said they had gotten almost $15,000. The law requires that even if I know a bank is shaky, or even if I apply for a receiver, there must be thirty day's notice to the bank." F. L. Shaw, for 'twenty-five years foreman of the Carolina Central railway shops at Laurinburg, died here today, aged 64. The United States supreme court postpones until February 21st the hearing of the case involving the constitutionality of the tonnage tax on fertilizers.

15. December 24, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, December 24, 1897

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KNEW IT WAS SHAKY. I And Yet he Did Not Close it up as he Should Have Done. Treasurer Worth, in an interview said: "I knew the Piedmont bank at Morganton was shaky a long time before it failed, and I sent $5,000 to my deputy treasurer, but I did not let him put it in the bank until the latter had given me $10,000 of electric light stock. I thought that the bank was all right until I saw that it was running too short of cash, and I told its officers that they must get more cash. They said that they had gotten almost $15,000. The law requires to t sum. If I know a bank is shaky, or even if I apply for a receiver, there rust be thirty days' notice to the bank'

16. December 25, 1897 The News & Observer Raleigh, NC
Article from The News & Observer, December 25, 1897

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WALTON MUST NOW GET OUT. Cowles to Take Charge at Once and Walton to Pay Costs. Another and final whack was yesterday taken by the Supreme Court at the Morganton bank receivership squabble. On motion of counsel for the State Treasurer, it was ordered that William E. Walton surrender at once to Andrew D. Cowles, receiver, all the assets and control of the Piedmont bank. If it is deemed necessary the sheriff of Burke County is directed, upon demand, to put Cowles in possession. Walton is charged with the costs of the appeal.

17. December 26, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, December 26, 1897

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ACROSS THE BORDER. NEWS NOTES GATHERED IN THE NORTH STATE CAPITAL. The Railroad Commissioners' Squabble-The Governor Is Very MadCompliments to the Chief JusticeFarmers Happy-Personal Notes. RALEIGH, N. C., December 25.-(Special.)-There was crisp weather here today, with the mercury well down in the twenties. There was an almost general suspension of business. The public offices were closed. The national and State flags were displayed on the Capitol. There were services at the Episcopal, Catholic, and Methodist churches. At the Railway Commission office the new commissioners, Pearson and Caldwell, were seen this morning. Clerk Brown, of the commission, arrived this morning. He said: "I am just telling these gentlemen that as the Supreme Court recognized them as commissioners I give them my services. I would have been here yesterday but for a delayed train." Pearson and Caldwell said: "We are doing no business. Nothing of any kind will be done until after the holidays. We will probably go home this evening." Adjutant-General Cowles arrived here to-day, upon a telegram from the Governor. It was at the latter's instance that he was appointed receiver of the Piedmont Bank, at Morganton. The Governor's telegram called him here on that business. The Governor was very angry because a story got abroad yesterday that Cowles was sent for to protect the new railway commissioners in their office. Cowles said to-day that he had given the $20,000 bond, and would take charge of the bank next Monday. Certain matters which were obstacles have been removed, and it is arranged that the $67,000 of the bank's collateral held by other banks shall be turned over to the receiver to be collected. The amount due other banks is only $25,000. The saving to depositors will, of course, be the difference between the two sums. as there will be no forced sale at a sacrifice. Cowles says he will give a $25,000 bond to the banks to cover the debt. Railway-Commissioner Otho Wilson arrived this morning. Chairman Wilson, who arrived yesterday morning, was here only a few hours. It seems that there are now five commissioners, and will be until January 20th, when the United States Supreme Court hears the matter. Many compliments are paid-Chief-Justice Faircloth for the stand he took in the matter of the railway commissioners. Prominent men say he stood for law and order, and for good conservatism. W. P. Batchelor, who went to Baltimore to examine into the status of the guarantee companies, says that he was told by one company's officials that it cost them over $2,800 to get into one State. He says in his report to the Secretary of State that so far as the bonds of employees, officers, administrators, and guardians are concerned, the business is properly guarded, but as to bonds in attachment and those guaranteeing performance of contracts, bonds in injunction cases, and other court proceedings there is some doubt, and an element of speculation, but that companies say the safeguard is ample. The Secretary of State licenses the Merchants' and Manufacturers' Fire-Insurànce Company of Baltimore. He will in a day or two license the Guarantors' Finance Company, a new one, of Philadelphia. Work begins at once on a new ceiling, of steel, to replace the plaster one in the Supreme-Court room. It is asserted here that James H. Young (colored) is figuring on a transfer from the State Agricultural Department to the office of Revenue Collector here. He is

18. January 16, 1898 Richmond Dispatch Richmond, VA
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ACROSS THE BORDER. NEWS NOTES GATHERED IN THE NORTH STATE CAPITAL. WITH INCREDULITY. RECEIVED The Report That Judge Dick will Resign-More Mormons ArriveFifty Now at Work-Anti-Spanish Feeling-Personal Notes. RALEIGH, N. C., January 15.-(Special.)-The news that Judge Dick will resign is received with incredulity. It is treated as stale news. His son-in-law, Judge Douglas, is confident of getting his place whenever he does step off the bench. Robert Hancock, of New Berne, said yesterday before leaving here that he had not seen the Governor during his visit. To-day a paper says he did see the Governor, and that the latter had given him some plain talk. At the executive office to-day there was a refusal to answer the question whether Hancock had seen the Governor or not. It is the belief here that Hancock will quickly lose his place as president of the Atlantic and North Carolina railway. This is said by people of all parties. Feeling against him is high. He protests his absolute innocence of any and all charges. Six more Mormons have arrived to do work in this State, bringing the number up to fifty. The engineer who will look for the route for the lumber railway between Raleigh and Lillington will be here next week to begin the survey. The anti-Spanish feeling here is more intense than ever. The ex-Confederates are declaring that a fleet ought to go to Habana and end matters once for all. This is the prevailing sentiment in the State. There are excellent reasons for saying that after the meeting of the Railway Commission week after next a large reduction in passenger rates will be ordered. It has been in view since the new commission came in office. It is the wish of Senator Butler, and, of course, also of Governor Russell. A telephone line between Raleigh and Chapel Hill will be constructed. The State University Dramatic Club entertained a very large audience here last evening with "London Assurance," and then attended the "charity ball" Hyacinths are in full bloom here, and to-day there is again spring weather. The Bank of Pitt County, it is officially announced, will go out of business. At the next meeting of the Rallway Commission, the question of who can and who cannot have free passes will be specially taken up. Adjutant-General A. D. Cowles resigns as receiver of the Piedmont Bank, at Morganton. It is said L. A. Bristol will succeed him. S. P. Satterfield, who was convicted in the Superior Court here of criminal negligence as regards the assignment act, but who was acquitted by the Supreme Court, is here, and wants to be chief clerk to Revenue-Collector Duncan. A swarm of other seekers after the places in the S revenue service is here. They all have a fine contempt for civil service. James A. Cheek told me to-day that all the deputy revenue collectors in the field would resign as soon as Duncan came in. At the revenue office it was learned that this was absolutely incorrect. I It is said by some prominent Republicans that they do not believe Governor Russell will serve his full term: that he sees his administration is a failure; that 1 he has no following, and is literally c proving an "old man of the sea" to his party. o Rev. Dr. Pittinger, the rector, says it S is the hope to begin work the coming spring on the new Church of the Good

19. January 19, 1898 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 19, 1898

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ACROSS THE BORDER. THE NEWS GATHERED IN THE NORTH STATE CAPITAL. Removing n Landmark-A Slight Fall of Snow-Receiver's Bond Filed-The Populists-Other Political Notes-Briefs. RALEIGH, N. C., January 18.-(Special.) This the removal of the the beiron fence morning around Capitol Square massive gan. The fence was built here in 1853 In by a contractor named Burns. some places it rises eight or nine feet above and rests on a base the street level heavy of granite. The removal of the fence of the Capitol be a decided grounds and the will graceful sloping improvement. certain that the which one corner of the will It stands is quite in arsenal, square, also. Convicts will the the square with streets be removed around pave Belgian block, save in front of the Supreme Court, rock from Castle will where shell Hayne be used, for the reason that it makes an almost noiseless pavement. The fence removed will be placed around the old or City Cemetery. There was a little snowfall last night. weather is more warm weather The colder would relished. have A injured little fruit trees. of Senator be made was sign The and refusal Judge Pritchard expected to rehere. The Republicans are not willing to put in Governor Russell's hands the appointment of a senator or to take chances on the next Legislature. Revenue-Collector Duncan may take charge of his office before February 1st. He has gone to give his bond for $115,000. It is thought that H. C. Thompson or W. H. Martin may be chief clerk, though Senator Pritchard may have picked out a man for that place. Duncan says he has not yet made the selection. The bond of L. A. Bristol for $11,000 as permanent receiver of the Piedmont Bank, at Morganton, was filed here today in the Superior Court Clerk's office. Vice-President Andrews, J. B. Munson, H. W. Miller, and R. L. Potts, of the Southern railway, are subpoenaed to appear at 10 A. M. next Tuesday before the Railway Commission to show cause why they not be summoned for contempt to answer served the yesClerk should Brown in refusing subpoenaes questions. terday, but did not give out the news. Commissioner Abbott said this morning that it seemed that the attack is being directed the Southern men are hugely The Dockery against enjoying railway. Governor Russell's worries and discomfitures. They say "it serves him just right.' Mrs. Albert Watson, who in October was shot here by her husband, is dying as in Johns Hopkins Hospital. The survey of the lumber railway between Raleigh and Lillington began today. counsel and the counsel The general of the Pullman Car Company assistant were local here to yesterday meet the arranging attack which with counsel the is sure to make. filed to the The Railway Bell its exceptions Commission Telephone Company commission's last night order of last week, reducing and fixing rates of telephone rentals. The company } will make a fight in all the courts. The State charters the Times-Mercury t Publishing Company, of Hickory, composed of J. F. Click, E. E. Reynolds, and J. different t that L. it Latto; will publish capital, papers $4,000. of It appears S political faiths. S State was attitude Captain Committee, A. S. Peace, asked of the the Populist ( of the I He are not hero 6 will follow the fortunes one They says: the Populists "They toward worshippers. of Governor. no I man." This is also a thrust at Senator I Butler. Peace says the Populists will not ( divide this year; that they are in better n shape than was hoped for even by the most sanguine, Assistant-Clerk Hanna was at his desk in the office of United States Marshal 1 Henry Clay Dockery to-day. He refused o to resign as requested. Dockery says he will have Hanna on duty "for a little 1 while until the case is passed on." Chief$ Clerk Clifford Carroll resigns and makes 1 no fight. Dockery says he has as yet & appointed no deputy marshals. He could not say when he would do so. 5 The report of State-Auditor Ayer was given the public printer to-day. I In view of Governor Russell's frequent trips to Wilmington, the people are asking if he has been vaccinated. A It is whispered that Auditor Ayer may A be a on the PopuB ticket candidate for Congress the list in this district. Would ReC publicans in such a case endorse him? C e Warden Russell, of the penitentiary, c he is greatly pleased says with Mewy borne, the new Superintendent. c