Article Text
A Bank Suspended. WILMINGTON, N. C., Nov. 25.-The first national bank of this city suspended payment this morning owing to the stringency in the financial affairs.
12000. First National Bank (Wilmington, NC)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 1656
- Charter Number
- 1656
- Start Date
- November 25, 1891
- Location
- Wilmington, North Carolina (34.226, -77.945)
Metadata
- Model
- gpt-5-mini
- Short Digest
78a0123f
Response Measures
None
Receivership Details
- Depositor recovery rate
- 61.0%
- Date receivership started
- 1891-12-21
- Date receivership terminated
- 1899-09-21
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 20.3%
- Share of assets assessed as doubtful
- 53.3%
- Share of assets assessed as worthless
- 26.3%
Description
The First National Bank of Wilmington suspended payment on 1891-11-25 citing stringency in financial affairs and later was declared insolvent; a receiver was appointed in December 1891. Newspapers report crowds outside the bank but no explicit run (mass withdrawals) is described. Cause attributed to prior heavy losses and slow collections (bank-specific adverse information / general stringency).
Events (6)
1.
July 25, 1866
Chartered
- Source
- historical_nic
2.
November 25, 1891
Other
- Newspaper Excerpt
- Large crowds are gathered around the bank discussing the situation, but the excitement is of a subdued character and everything is comparatively quiet.
- Source
- newspapers
3.
November 25, 1891
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Directors cited long-existing causes: capital impaired by heavy losses several years earlier and slow collections due to recent monetary stringency, forcing suspension to protect depositors and stockholders.
- Newspaper Excerpt
- In consequence of the stringency in financial affairs and their inability to meet further demands, the directors of this bank have decided to suspend business until further notice.
- Source
- newspapers
4.
November 26, 1891
Other
- Newspaper Excerpt
- Comptroller Lacey instructed Bank Examiner Alden to proceed from Washington City at once to take charge of the bank.
- Source
- newspapers
5.
December 21, 1891
Receivership
- Source
- historical_nic
6.
December 21, 1891
Receivership
- Newspaper Excerpt
- The controller of the currency today appointed Mr. William S. O'B. Robinson ... receiver of the First National Bank of Wilmington, N. C., insolvent.
- Source
- newspapers
Newspaper Articles (25)
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A North Curolina Bank Suspends. WILMINGTON, N. C., Nov. 25.-The directors of the First National Bank have decided to suspend business until further notice. The capital stock of the bank is $250,000. The last published statement shows deposits of $405,000:
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BANK FAILURE IN WILMINGTON. Doors of the Fr.t National Bank Have Closed WILMINGTON, N. C., Nov. 25.-The First National bank of this city has failed. It one of the oldest national banks in the state, and its stockholders are among the wealthiest citizens of the state, and its stockholders are among the wealthiest citizens of the state. The bank has not been in a prosperous condition for a long time and the attempts of the new officers to save it have resulted in failure. It is supposed that the institution lost under the presidency of Mr. Burruse, who, while regarded as an honest man, was not a discreet and wise officer. The late Mr. Chadbourn, who succeeded as president, found the bank in a bad condilion, and applied himself to putting it on a secure basis. Upon his death Mr. B. F. Hall accepted the presidency. The other officers were G. Herbert Smith, vice-president, and H. M. Bowden, cashier. The following notice was posted on the dooor of the First National bank this morning : "In consequence of the stringency in financial affairs and their inability to meet further demands, the directors of this bank have decided in the interest of all concerned to suspend business until further notice." Nobody is admitted. The officers are in the bank, every entrance to which is closed and it is impossible now to get any statement as to the condition of its affairs. The capital stock is $250,000. The tast published statement shows deposits of $405,000. An employee of the bank, who is familiar with its affairs, has expressed the opinion that the depositors would suffer no loss. Large crowds are gathered around the bank discussing the situation, but the excitement is of a subdued character and everything is comparatively quiet. The Bank of New Hanover and the Wilmington Savings and Trust Company are not affected by the suspension.
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BUSINESS FAILURES. Col. French, of Boston, Assigns-San Francisco Wheat Shippers Embarassed. BOSTON, Nov. 25.-Colonel J. H. French has assigned. A prominent banker says he owed the Maverick bank $800,000, and held $258,000 of stock, which is valueless. His liabilities amount to at least $900,000. The assets arelarge, but not sufficient. SAN FRANCISCO, Nov. 25.-The high prices bid for charters for wheat carrying vessels some months ago, when the prospects for an abundant export of wheat were greater than the events have since justified. have caused trouble to sevoral well known shipping firms, and various methods have been resorted to to overcome the difficulty. When William Dresbach had no wheat on hand to fulfill his engagements and the prices quoted precluded him from loading the ships he had chartered, he instituted a plan of giving each vessel, as its turn came to load, a written acknowledgement of indebtedness for the difference between the figure it might be able to procure a cargo at and the price mentioned in his charter. He arranged with all for time to clear off his indebtedness, and as lawsuits could only confirm the judgement of which he had acknowledged the liabillity by written statements, the shipowners accepted the inevitable and are doing the best they can under the circumstances. The firm of Lowenthal, Livingston & Co. is in difficulties of the same character as Dresbach, and a meeting of the firm's prospective creditors was held on Monday to hear what was proposed to be done in connection with the ships chartered by the firm to carry wheat across the Atlantic. A gentleman well known on 'change, speaking of the matter, said yesterday: The firm acknowledge that it could not load Vessels under the existing circumstances, and made the following proposal: Taking 30 shillings as the present basis of freights they agreed, If allowed to, to relinquish the charters. to acknowledge themselves indebted to the ship owners for the difference between those figures and the prices they chartered at originally. or course they stipulated for time to meet their engagements, and there is no reason for believing that owners will be inclined to deal more harshly with this firm than they did with Dresbach. The terms proposed have been submitted to several ship owners by cable, and answers should arrive tomorrow. WILMINGTON, N. C., Nov. 25.-The First National bank of this city suspended payment this morning. Owing to the stringency in fuancial affairs the bank was unable to meet further demands. It is impossible now to get any statement of the condition of affairs. The capital stock of the bank is $250,000. The published statement shows deposits of $405,000. An employe of the bank who is familiar with its affairs expressed the opinion to a reporter that the depositors would suffer no loss. Largo crowds have gathered around the institution, but everything is quiet, WASHINGTON CITY, Nov. 25.-Lacey, comptroller of the currency, was informed this morning of the suspension of the First National bank of Wilmington, N. C. He instructed Bank Examiner Alder to proceed from Washington City at once to take charge of the bank. BALTIMORE, Nov. 25.-G. Cassard & Co., the big provision and pork dealers, made an assignment for the benefit of their creditors this afternoon. Samuel Snowden was made a trustee and gave bonds of $250,000. This is just double the assets of the firm. The liabilities have not yet been made public, but It is said on good authorQty that they will be equal to the assets.
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A BANK STOPS PAYMENTS. THE FIRST NATIONAL OF WILMINGTON IN TROUBLE. Its Suspension the Outcome of Heavy Losses Made Several Years Ago and Slow Collections Owing to the Recent Monetary Stringency-Depositors Apt to Be Paid in Full. WILMINGTON, N. C., Nov. 25.-The following notice was posted on the doors of the First National Bank this morning: "In consequence of the stringency in financial affairs and their inability to meet further demands the directors of this bank have decided in the interest of all concerned to suspend business until further notice." The officers were in the bank, every entrance to which was closed. Its capital stock is $250,000. The last published statement showed deposits of $405,000. An employe of the bank who is familiar with its affairs expresses the opinion that the depositors will suffer no loss. Large crowds gathered around the bank disoussing the situation, but the excitement was of a subdued character and everything was comparatively quiet. The Bank of New Hanover and the Wilmington Savings and Trust Company are not affected by the suspension. A BANKER EXAMINER SENT ON. WASHINGTON, Nov. 25.-Mr. Lacey, controller of the currency. was informed this morning of the suspension of the First National Bank of Wilmington, N. C. He instructed Bank Examiner Alden to proceed from Washington at once to take charge of the bank. STATEMENT OF THE DIRECTORS. The board of directors have given to the press the following official statement concerning the bank: "The causes which led to the suspension have existed a long while. The capital was impaired by heavy losses several years ago, as is generally understood from the fact that no dividends have been declared since 1887. The directors hoped that by careful management the earnings of the bank would be sufficient in a few years to cover these old losses, but slow collections in consequence of the general stringency prevailing in our section this fall have compelled them to abandon this hope and close the bank to protect depositors as well as stockholders against further risk. Notwithstanding the shrinkage in many securities on account of the general depression in business, it is hoped that the resources of the bank under prudent handling will yield more than enough to pay the depositors in full."
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A BANK'S EMBARRASSMENT. The First National of Wilmington, N. C., Unable to Meet Demands Upon It. WILMINGTON, N. C., Nov. 25.-The following notice was posted on the doors of the First National Bank this morning: "In consequence of the stringency in financial affairs and their inability to meet further demands, the directors of this bank have decided. in the interest of all concerned. to suspend business until further notice." The officers are in the bank. every entrance to which is tightly closed. and it is impossible now to get any statement of the condition of affairs. The capital stock of the bank is $250,000. The last published statement shows deposits of $405,000. An employee of the bank, who is familiar with its affairs, expressed the opinion that the depositors would suffer no loss. Other banks are not affected. WASHINGTON, Nov. 25.-Mr. Lacey. Comptroller of the Currency. was informed this morning of the suspension of the First National Bank of Wilmington. N. C.. and instructed Mr. Alden. Bank Examiner. to start from Washington at once to take charge of the bank.
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A Southern Bank Failure. WILMINGTON, N. C., Nov. 25.-The First national bank of this city suspended payment this morning. Owing to the stringency in financial affairs, the bank is unable to meet further demands. It is impossible now to get any statement of the condition of its affairs. The capital stock of the bank is $250,000. The last published statement shows deposits of $405,000. An employee of the bank, who is familiar with its affairs, expressed the opinion to a reporter that the depositors would suffer no loss. Large crowds gathered around the institution, but everything is quiet. WASHINGTON, Nov. 25.-Lacey, comptroller of the currency, was informed this morning of the suspension of the First National bank of Wilmington, N. C. He instructed Bank Examiner Alder to proceed from Washington at once to take charge of the bank.
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The Wilmington Bank Failure. From the Wilmington Messenger. The fact is, the impending crisis had long been anticipated in financial circles and ample provision had been made to meet all emergencies The embarrassment of the First National bank had been watched and its suspension had been regarded as a foregone conclusion. Reserve funds were therefore kept on hand for panicky depositors, but of these there were not near as many as was expected.
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EXPOSITION ENDED. THE MANAGERS SAY IT HASNOT BEEN VERY PROFITABLE. Collapse of a Building and Loan Association-Five Years for Pointing a Pistol at a Companion-The Latter Killed. [Spectal telegram to the Dispatch.] RALEIGH, N. C., November 28.-The Southern Exposition ended to-day. The work of removing the exhibits began. Presentation of testimonials were made to F. B. Chilton and John T. Patrick, managers of the Exposition. They say the Exposition has not been very profitable pecuniarily. All the perishable articles on exhibition have been given to the soldiers' home at St. John's Hospital here. BUSINESS FAILURES. News reached here to-day of the smash of the Building and Loan Association at Chnton, which had banking privileges, and $50,000 capital. It was established ten years ago, and its bus ness methods were not very able in character. D. B. Nicholson 18 cashier. having early this year succeeded W. A. Johnson, who is said to be the largest stockholder. The failure will probably annoy some merchants there. The failure of the First National Bank at Wilmington causes the assignment of John L. Boatwright, grocer of that city, for the benefit of creditors, John H. Sharp being the assignee. Bank-Examiaer Alden is now in charge of the suspended bank, and Daniel L. Russell, of Wilmington, will become its receiver. CONVICTION UNDER THE NEW LAW. A new law in North Carolina makes it a crime to point a gun or pistol at any person even in sport. John Boon, fourteen years old, was brought to the penitentiary to-day trom Onslow county, and gets five years for pointing a pistol at another boy, He thought it was only capped, not loaded, but it was discharged and the boy instantly killed. MYSTERIOUS DISAPPEARANCE. The wife of a negro named Levi Perry, living here, has mysteriously disappeared. Though the police, aided by many people, have searched for her for three days it is to no purpose. Her husband is nearly insane with grief. The woman was last seen Wednesday on the banks of a creek three miles from here. Yet the stream is shallow and has been searched for miles. WILMINGTON'S WELCOME WEEK People from all parts of the State will be at Wilmington next week at the Welcome- Week" festivities, which begin Tuesday and end Saturday. The plans are well arranged and there are special attractions every day and night. Wilmington is the gateway to the South. It needs to be more closely connected with the rest of the State. The visitors there will find the place a typical southern city, and will also discover what the word welcome means. The railway rates are only & cent a mile. The programme of amusements is a complete one. YOUNG MAIL- OBBERS. Sabra Choate and Rilev Caddell, both white youths under twenty years of age, are under arrest in Allegbany county on charges of systematically robbing the mails on horse routes. Many people there say they are the victims of a conspiracy, though the evidence against them is strong. Governor Holt to-day refused to commute the death sentence of Alfred Dawnes. the Charlotte burgiar, and he will therefore be hanged December 3d. T. Palmer Jerman, of Raleigh, was to-day appointed executive clerk by the GoverMr. Capehart resigned.
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LATE NEWS. The First National Bank of Wilmington has suspended. The Republican National Convention will be held in Minneapolis, Minn., on the 7th of next June. A commercial college is to be established at Charlotte. The college will be Junder the management of parties from Maine and Maryland. On thanksgiving day the members of the firm of W. Duke, Sons & Co., at Durham, sent the children at the Oxford Orphan Asylum money, 'food and wearing apparel to the amount of $1,000
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The Wilmington Broken Bank. WASHINGTON, Dec. 4.-[Special] Comptroller of the Currency Lacey today received a letter from the examiner in charge of the First National Bank of Wilmington, N. C., but declined to disclose its contents. Ho said, however, that the bank would probably be placed in the hands of a receiver.
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News in North Carolina in a Condensed Form. THE STATE'S PROGRESS. Incidents and Industries, Efforts and Energies, Persons and Things from Cherokee to Ourrituck. Five large flats or apartment houses are in course of construction at Salem. The discovery of green sand in New Hanover county is one of great importance. Much pork will be put up in Johnston county this season, the Smithfield Herald says. The people of Sampson county are reforesting, by protecting the young pine trees, 2 million of which are growing. As yet there is no news as to the whereabouts of Cashier Bowden, of the smashed First National bank at Wilmington. Moore Bros. of Four Oaks, general merchants, have assigned. They also dealt in turpentine. The preferred debts aggregate $1,000. Mr.H.M. Butters, of the town of Hub, has put $250,000 in the lumber industry in North Carolina. His big mills now cut 100,000 feet of timber daily. Miss Meddie Johnson, a pupil at Greensboro female college, died last Sunday, of grippe, after fifteen days' sickness. Grippe is prevalent in several sections of the State. The three-year-old child of Arthur Rumage, of Davie county, was accidently burned to death Monday by its clothing, the Times says, having caught fire from the fireplace. H. & L. Wright of Salisbury who have assigned, bare assets of $13,000, liabilities $11,000, and have surrounded all their property, not even reserving the homestead. Last week a granite block was shipped from the Mount Airy ite to quarries Philadelphia which granover tons and form which, weighed the News nineteen states, will the base of a huge monument.. Frank Shoe, aged 4 years, son of Albert Shoe, postmaster at Finger, Stanly county, while playing around a well fell in. Soon after, his parents missing him, they instituted search. The Salisbury Herald says the little fellow was found in the well, cold and stiff in death. Mr. Rufus Baker, who lived near Four Oaks, Johnston county, was run over and killed by a passing train near Benson Wednesday night. He was drunk and was walking on the track. He waste ribly mangled, his head cut off, body severed and one hand cut off. Thieves, the Charlotte News says, are about to take the Mill Hill section of Cabarrus county, and are carrying off corn, cotton and anything they can get their hands on. Some parties selling liquor in the neighborhood are suspected of securing the stolen goods. Hundreds of dollars' worth have been stolen, the is thorand that will and be oughly trouble it is organized thought gang there in making arrests. Never were burglars so daring or burglaries so numerous. At Charlotte a night or two since the house of Mrs. Biggs was entered. found two awaked and white men She standing beside her bed, one with a
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Cream of the State Press Drops of Turpentine and Grains of Rice from the East-Clusters of Grapes &nd Tobacco Stems from the North-Stalks of Corn and Grains of Wheat from the West-Peanuts and Cotton Seed fromtheSouth It is said the recent McDougald trial $8,000. Capt. L. W. McLaurin, a promine nt citizen of Laurinburg, died Tuesday. Five large flats or apartment houses are in course of construction at Salem. Two young ladies died at the Greensboro female college last week of the grippe Efforts are being made to put the suspended bank at Clinton on a good fooung The discovery of green sand in New Hanover county is one of great importance. Much pork W 11 be put up in Johnston county this season, the Smithfield Herald say J. W. Summers, Esq., a prominent lawyer of Mecklenburg, will make Asneville his home. The new band of the Fourth Regiment, at Ashevile, will be regularly enlisted In a few days. A railroad is being surveyed from Red Spring to a point on the Wilson Short Cut, near Mt. Tabor A special train carrying the Ema Juch Opera Troupe was recked near Oxford last Wednesday afternoon. Mr. Jethro Howell, of Fork township Wayne county, from four acres has gathered 2,057 pounds of lint cotton. Henry Grady Lodge. No. 102, I. O. 0. F., was organized at Oxford Tuesdul evening. Mr. U. F. Crews is Noble Grand. Gov. Holt has pardoned Robert Smith, who was sentenced from Wayne county for five years for lare ny. The people of Sampson county are reforesting, by protecting the young pine trees, a million of which are growing Owing to his continued ill health, Mr. Covington retires from the editorial control of the Farmer and Scottish Chief. As yet there is no news as to the whereabouts of Cashier Bowden, of the smashed First National bank at Wilmington. Miss Laura Thacker, a pupil at the Greensboro Female College, died last Thursday night, after an illness of about two weeks. It is stated on good authority that Mr. B. L. Duke, of Durham, will put $30,000 in the many ture of plug tobacco at Mt. Airy tave Oaks, general Moore Bros. of merch ints, have Four Pd. They also dealt in turper he preferred debts aggrega W. R. used Ate $1,000 cold a big load at Gravely S Farmers Warehouse last Saturday at an average of $21, says the Rocky Mount Phoenix. An Asheville paper states that 6 552 guests registered at the Battery Park Hotel since January 1, 1891. The hotel has now about 90 guests. Mr. Robert Morrison, a prominent business manof Wilmington, died there suddenly Sunday in the 68th year of his age, of heart disease. Two hundred and forty dollars is what the entertainment given at Char lotte Monday evening by the amateurs, netted the Queen City Guard. The dwelling of Mrs. M. E. O'Berry, near Dudley, was burned Sunday. Only a small quantity of furniture was saved There was no insurance. J. C. Ramsey, of Greensboro, dealer in toys, confections, &c, has made an assignment to James E Boyd. The assets and liabilities are unknown. Mr H M. Butters, of the town of Hub, has put $250,000 in the lumber industry in North Carolina His big mills now cut 100,000 feet of timber daily. The postoffice at Dudley, Wayne county. will be incharge the the Goldsboro Headlight states, of a negro woman, the wite of J. F. Baker of that place. The barn of W. M. Hankins, with 1,400 bushels of rice, 150 bushels of corn. & were destroyed by fire Sat urday at his farm six miles from Wil mington. Jno. Cook, of St. John's while on his way to town was thrown from his wagon and received a big gash on the
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THE WORLD'S NEWS ST SINCE FULLY CONDENSED FOR BUSY AND PEOPLE. State, $8,000. The McDongal trial cost the State The Plow, ton. the name of a new Force paper and at Lincoln. Grip doing some Stanly damage. A regula: county kyelone last week passed through An ondeming alled in indignation Roberson meeting has been quittal of McDougal. resolutions county on the to pass aoit W. is said, 8. O'B, will Robinson be of Goldsboro Receiver Wilmington. of the broken appointed bank the marriage of Ed. announcing chairman Cards are out Chambers Smith, the of Col. Paul Falson, Committee Cashier ter of Bowden and Demoeratic Miss Faison, Executive daugh. been Bank of Umangton or First National heard from. has no: been denied. reports about him, Many have damaging not yet Samuel of his was Surry bed the last cause. county Hanes, week, was a well-to-do excessive found dead farmer drink in Maj. ses visited the Wilson Onslow of 16. R. Commission Onslow county. himself favorable tailroad. expres. about tentary The Weldon not News Fays the General Hansom, rented the pent. ral tors would not rent because unless the lands of generefused bought to do. his stock, which the directo they Mai. Finger ending spent on public says $740,000 1st last. The the year creake $756,000 of July was spent. for previous was $100 two and report. about does valuation The not appear and is just half taking The on the effect in$800,000, year will year's is term now terms week. will The be average increased and only the about school three months. concounty, Mrs. Elizabeth lost her Berry, of Wayne tents by fire Monday house week. and Its are Burglars, reported pickpockets to and robbers in the work in d; every town prize The smoke stack be at State. nearly ed killed two house at Durham of B. fell L. Duke's ed two others men who Were and working on it. badly Friday, injured National. on The armored the most structed for formidable the erniser vessel New yet con York, 1, 15,000 people. Philadelphia navy, in the was presence of launched as I Airy, L.B. N Herring, C., was former'y of ng rain storin y, during a this falling a severe building wind instantly at Roanoke, and killed Va.. Mt. by morning. a of fl The treasurer has eir ey Senator filed Calvin a suit against Allen United county, States ey delinquent taxes, S. Brice for $17,850 in at that vihe had no years, inconstantly during that place. the refused last few residence to The Paytaxes there Senator' alleging inno railroad The annual report of the er, that a law commissions be Kentucky d. separate passed recommends or passengers. coaches for white providing for and black Io inn, millers been Thirleen subscribed carloads by of flour have hike Russia. for the starving Minneapolis peasants of vill As Christmas all on York Friday to it is and proposed New Year come are each. have three day's holiday in New ese his to ion is who The is illness still confined of Gen. B. F. Butler. ak Lowell, you cian to drinking in actributed by his bed physi- in ny the Merrimack impure ael from The oldest or river. Water the States capital in the and the #8 far of government in New was an, seat lation back is is Sante Fe., as 1640: which yet Mexico United the Porter's centure only 6,185, according popu- to ver milsm man The S. widow S. Cox of the late tutmen behaif handsome silver was Vase presented Congress. ore life of the officers and yesterday on forsaving service. Ited ther our named a most The wife Coleman and were child the of a negro ted Friday night. outrage at Some Vicksburg died the house tered terrible while misereant en- victims of RES ble face asleep the ear or and the child. of the poured woman molten and they lead on were the It In the selection barw to lettery of Louisiana bie oc recured a majority. men appear to have A able ting be mittee held meeting of in the of Democratic the National Com ble! ath. holding 1892, to select Washington, time And January party the Democratic Convention place fo pta Foreign men byer. is well Russia how ought to to understand the century the with one She began the has had eight manage within famines, this as sh pretty the 1811,1812 hese again Citize. of Brazil protest
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AT THE NATIONAL CAPITAL. Mr. Crawford, of North Carolina, on the Mileage Committee. THE WORK OF SPEAKER CRISP. Mr. H. G. Williams, Brother of Congressman Williams, Will Get His Old Position in the House. WASHINGTON, D. C., Dec. 14.-The Senate is in session this afternoon considering a long list of Presidential appointments. The House will re-convene Wednesday. Two committees have been announced, viz: Mileage and Accounts. Mr. Crawford, of North Carolina is the second man on the first mentioned committee. The Speaker cannot well ignore the solid supp rt the Tar Heel delagation gave him. Mr. Henderson, Chairman of our delegation told me vesterday that the Speaker was hard at work on the formation of the committee, but had not completed any but the two mentioned above. There was a competitive examination in the Hall of the House for the positions of Reading Clerk of the House Saturday night. North Carlina had three candidates in the field, Messrs. Smith and Ferguson of Col. Cowles' district and Capt. John B. Hussey formerly editor of the Greensboro Patriot but more recently a resident of thiscity. There are tworending clerks and each one receives $3,700. The delegation hasgiven Col. Henry G. Williams, brother of Hon. A. H. A. Willams, its united support for his former position as Assistant Superintendent of the House Document Room. This makes his election a certainty. I was told at the Treasury Department this morning that the Examiner's report on the condition of the First National Bank of Wilmington had not yet been received and that nothing would be done until the re port was in and examined. If the directors make necessary arrangements. the Bank will be allowed to resume business. If not, a receiver will be appointed and the gentleman will probably be Mr. W. S. O. B. Robertson, of Goldsboro. Messrs. Tom Ransom and Julian S. Carr are in the city.
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WILMINGTON'S BROKEN BANK. The Examiner Reports it Insolvent-A Receiver to be Named. WASHINGTON, Dec. 17.-The controller of the currency to-day received a telegram from the examiner in charge of the First National Bank of Wilmington, N. C., saying that the bank is practically insolvent, and suggesting the appointment of a receiver to wind up its affairs. The controller will appoint a receiver in a few days, probably to-morrow.
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To Appeint a Bank Receiver. WASHINGTON, Dec. 17.-[Special]The comptroller of the currency to-day received a telegram from the examiner in charge of the First National Bank of Wilmington, N. c., saying that the bank is practically insolvent and suggesting the appoitment of 3 receiver to wind up its affairs. The comptroller will appoint a receiver in 2 few days, probably to-morrow.
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AN INSOLVENT BANK.-The controller of the currency has received a telegram from the examiner in charge of the First National Bank of Wilmington, N. C., saying that the bank is practically insolvent and suggesting the appointment of a receiver to wind up its affairs. The controller will appoint a receiver in a few days, probably tomorrow.
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A RECEIVER APPOINTED.-The controller of the currency today appointed Mr. William S. O'B. Robinson offGoldsboro' receiver of the First National Bank of Wilmington, N. C., insolvent.
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Telegraphic Brevities. The weather on the Continent of Europe is extremely cold. Several persons have frozen to death in the French provinces. The Federal Controller of the Currency yesterday appointed Mr. William S. O'B. Robinson, of Goldsboro', receiver of the First National Bank, of Wilmington N. C., insolvent. The receipts from customs at the port of New York during the first twenty days of this month were $5,362,768, a decrease of $1,764,677, compared with the receipts during the corresponding period of last year. The net gold in the Federal Treasury yesterday amounted to $129,750,389. a decrease of nearly $2,000,000 since the 10th instant. The cash balance was $132,200,000. the lowest figure it has reached this month. The meeting called by Alabama's Agricultural Commissioner Lane, to be held in Montgomery for January 6th to devise plans to decrease the acreage of cotton, has been changed so as to be held in Memphis on the same date. IntheCourt of Claimsat Washington yesterday judgments were rendered in favor of John D. Pope et al in their suit against the United States to recover the value of lands in South Carolina sold in satisfaction of the direct tax of August, 1861. The north-bound Lebigh-Valley Buffalo express struck a rock that had rolled from the mountain side at Rockport, Pa., yesterday morning. The engine was demolished, and Michael Lebelle, aged forty, a New Jersey Central engineer, who was riding on the engine on his way to work. was crushed to death. The fireman was badly hurt, and the passengers were shaken up, though none were injured. While the south-bound Buffalo express was running around the wreck the train was derailed, but no one was hurt. The Mississippi "Cotton-Planters' Association of the Memphis district met in the MempLis County-Court room yesterday morning pursuant to adjournment. Dr. G. Godwin, Commissioner of Agriculture of the State, was called upon to address the meeting on the subject of decreasing the acreage of cotton-growing in the South. He thought that the greatest obstruction to an effort to effect a reduction of the acreage of cotton was the tenant system of the South. He was of the opinion that 6,000,000 bales of cotton raised annually equal to the present demand and thought it might bring more money than 8,000,000 or 9,000,000 are now bringing. He had heard it suggested that no attempt of this character would succeed because selfish interests would defeat it. Some planters would increase their acreage and take advantage of others. He was of the opinion that farmers in order to succeed would have to raise the necessaries of life in addition to their cotton. Dr, Godwin thought the mortgage system a most pernicious one and in many instances ruinous to the farmer. Dr. A. F. McKinney was of the opinion that the cotton acreage should be decreased. The difficulty is not so much that bo much cotton is raised, but that not enough is raised of other products. Mr. H. L. Bedford thought one difficulty that stood in the way of reducing the acreage was that negro labor would be largely affected by reduction and much of it would be left unemployed, and the country could not stand this. It would tend to anarchy. He did not see any field for negro labor beyond cotton-planting. A resolution was passed endorsing the Memphis Appeal-Avaianche in its fight against the alleged manipulations of the cotton market by the New Orleans and New York bears, and siding with the farmers. Adjourned sine die.
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BUSINESS FLUCTUATIONS Some of the Most Notable Collapses of the Financial World. JANUARY. 5. Failure of Dueber Watch company. Canton. O.: liabilities, $450,000. 14. Failure of O'Donnell, Spencer & Co., lumber dealers at Saginaw, Mich.: $100,000. 20. Failure of the American National bank of Kansas City for $300,000. FEBRUARY. 18. Suspension of the American Loan and Trust company of New York: deficit of $656,000. MARCH. 20. Suspension of the Keystone National bank of Philadelphia. Failure of the banking house of Theodore Schwartz & Co. at Louisville; liabilities, $750,000. 23. Suspension of the Washington National bank in New York city; shortage. $148,000. MAY. 4. Failure of J.H. Lippincott, of the American Graphophone company and North American Phonograph company, for $100,000. 8. Suspension of the Spring Garden bank and the Penn Trust and Safe Deposit company in Philadelphia. 12. Failure of Levy Bros. & Co., clothing manufacturers, in New York, for nearly $1,000,000. 19. Failure of Satterlee, Bostwick & Martin. insurance brokers, in New York, for over $100,000. 20. Assignment of the Davis Shoe company at Richmond, Va.: liabilities, $3,000,000. 25. Failure of Potter, White & Bayley, shoe manufacturers, in Boston, for $1,000,000. JUNE. 4. Assignment of the Connell-Hall-McLester company, dry goods house, in Nashville; liabilities, $464,000. 12. Failure of the London and Liverpool Clothing company and Mack & Co. in New York; liabilities over $250,000. 22. Failure of Sax Bros., bankers, in Nashville, for $600,000. 25. Assignment of the wholesale shoe firm of Emile Marqueze & Co., in Boston; liabilities, $460,000. JULY. 11. Failure of Hard Bros. & Co., spring bed makers, in Oneida, N. Y., for $125,000. 13. Failure of R. M. Bingham & Co., wagon makers, in Rome, N. Y., for $225,000. 20. Suspension of the Merchants' National bank of Fort Worth, Tex.; liabilities, $500,000. AUGUST. 2. Assignment of Abraham Backer, commission merchant and note broker, in New York: liabilities, $4,000,000. 8. Assignment of the Masonic Savings bank in Louisville, owing $1,000,000. 19. Receiver appointed for the American Wheel company, of Chicago, which has plants in six different states; liabilities, $1,800,000. 21. Seizure of the assets of the Mexican Northern railway in New York on a claim for $109,000. 22. Failure of S. V. White & Co., grain speculators of New York and Chicago, for nearly $3,000,000. OCTOBER. 19. Assignment of Jonathan Stewart, of Trenton: liabilities, $329,000. 22. Assignment of the Bank of Lewisburg, Tenn. NOVEMBER. 1. Failure of Maverick National bank in Boston; liabilities, $8,000,000. 7. Supension of National bank of Corry, Pa.: liabilities, $740,000. 10. Assignment of C.B. Paul, Louisville, lumber dealer, for $200,000. 12. Assignment of H. B. Smith & Co., New York ship brokers, for $800,000. 13. Failure of Louis Adler, New York cloak manufacturer. for $150,000. S. N. Stroube, California horse breeder, failed for $150,000. 15. Failure of Bonner & Bonner, bankers, for $500,000, in Tyler, Tex. 20. Shortage of $133,000 causes closing of Milford (Mich.) bank 25. Failure of First National bank, Wilmington, N.C. 27. Assignment of New York banking firm of Field, Lindley, Wiechers & Co., with liabilities of over $1,000,000. DECEMBER. 1. Receiver appointed for Richmond, Nicholasville and Beattyville railroad, Kentucky; debt. $3,000,000. 11. $250,000 assignment by Francis H. Baker & Co., dry goods dealers of New York.
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BUSINESS FLUCTUATIONS. Some of the Most Notable Collapses of the Financial World. JANUARY. 5. Failure of Dueber Watch supeny, Canton. O.: liabilities, $450,000. 14. Failure of O'Donnell, Spencer & Co., lumber dealers at Saginaw, Mich.; $100,000. 20. Failure of the American National bank of Kansas City for $300,000. FEBRUARY. 18. Suspension of the American Loan and Trust company of New York; deficit of $656,000. MARCH. 20. Suspension of the Keystone National bank of Philadelphia. Failure of the banking house of Theodore Schwartz & Co. at Louisville; liabilities, $750,000. 23. Suspension of the Washington National bank in New York city: shortage, $148,000. MAY. 4. Failure of J. H. Lippincott, of the American Graphophone company and North American Phonograph company, for $100,000. 8. Suspension of the Spring Garden bank and the Penn Trust and Safe Deposit company in Philadelphia. 12. Failure of Levy Bros. & Co., clothing manufacturers, in New York, for nearly $1,000,000. 19. Failure of Satterlee, Bostwick & Martin, insurance brokers, in New York, for over $100,000. 20. Assignment of the Davis Shoe company at Richmond, Va.; liabilities, $3,000,000. 25. Failure of Potter, White & Bayley, shoe manufacturers, in Boston, for $1,000,000. JUNE. 4. Assignment of the Connell-Hall-McLester company, dry goods house, in Nashville: liabilities, $464,000. 12. Failure of the London and Liverpool Clothing company and Mack & Co. in New York; liabilities over $250,000. 22. Failure of Sax Bros., bankers, in Nashville, for $600,000. 25. Assignment of the wholesale shoe firm of Emile Marqueze & Co., in Boston; liabilities, $460,000. JULY. 11. Failure of Hard Bros. & Co., spring bed makers, in Oneida, N. Y., for $125,000. 13. Failure of R. M. Bingham & Co., wagon makers, in Rome. N.Y., for $225,000. 20. Suspension of the Merchants' National bank of Fort Worth, Tex.; liabilities, $500,000. AUGUST. 2. Assignment of Abraham Backer, commission merchant and note broker, in New York; liabilities, $4,000,000. 8. Assignment of the Masonic Savings bank in Louisville, owing $1,000,000. 19. Receiver appointed for the American Wheel company, of Chicago, which has plants in six different states; liabilities, $1,800,000. 21. Seizure of the assets of the Mexican Northern railway in New York on a claim for $109,000. 22. Failure of S. V. White & Co., grain speculators of New York and Chicago, for nearly $3,000,000. OCTOBER. 10. Assignment of Jonathan Stewart, of Trenton; liabilities, $329,000. 22. Assignment of the Bank of Lewisburg, Tenn. NOVEMBER. 1. Failure of Maverick National bank in Boston; liabilities, $8,000,000. 7. Supension of National bank of Corry, Pa.: liabilities, $740,000. 10. Assignment of C. B. Paul, Louisville, lumber dealer, for $200,000. 12. Assignment of H. B. Smith & Co., New York ship brokers, for $300,000. 13. Failure of Louis Adler, New York cloak manufacturer, for $150,000. S. N. Stroube, California horse breeder, failed for $150,000. 15. Failure of Bonner & Bonner, bankers, for $500,000, in Tyler, Tex. 20. Shortage of $133,000 causes closing of Milford (Mich.) bank. 25. Failure of First National bank, Wilmington, N. C. 27. Assignment of New York banking firm of Field, Lindley, Wiechers & Co., with liabilities of over $1,000,000. DECEMBER. 1. Receiver appointed for Richmond, Nicholasville and Beattyville railroad, Kentucky; debt. $3,000,000. 11. $250,000 assignment by Francis H. Baker & Co., dry goods dealers of New York.
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A Sunday-School Chautanqua. WINSTON, N. C., April 20.-{Special.]-The creation of & Baptist State Sunday-school board, with headquarters in Winston. and the establishment of 8 Sunday-school Chatauqua at Roaring Gap. in Alleghany county, was an important piece of work transacted by the recent session of the State Convention held in this city. I learn to-day that the State board has elected Professor John T. Alderman, principal of the Reidsville graded school, corresponding secretary. whose duty it will be edevote his entire time to the Sundayschool cause, holding summer institutes and prosecuting the summer Sunday-school Chautauqua work. The board has given orders for a suit of rooms to be fitted up in this city for the secretary and the use of the board. On and after November 1st next the board will take charge of the State supply store. now located at Raleigh, and remove it to this city. The site for the summer Chautauqua has not yet been definitely decided upon, but a land company of Winston offers to donate several acres of land at Roaring Gap, on the Blue Ridge mountains, hence it is the general impression that it will go there. The Baptist is the first denomination in the State to establish a Chautauqua. Receiver W. S. O'B. Robinson. of the defunct First National Bank of Wilmington, who has been in charge for three months, has just finished his first quarterly report, which he has forwarded to the Comptroller of the Currency. He has been requested by the Comptroller to prepare all necessary schedules of the first dividend, which will be paid as soon as schedules and checks are prepared. The dividend will be 15 per cent. on all claims proved up to the 31st of March, 1892. The committee on the course of study at the State Normal and Industrial School, which is to be established at Greensboro, has suggested the following additional chairs for the consideration of the directors, who will meet on May 20th, mathematics. natural sciences, ancient and modern languages, physical training. vocal music, industrial drawing. stenography. type-writing, telegraphy and book-keeping, domestic science (embracing department of cooking, cutting, fitting and general house-keeping). At the meeting applications of specialists will be considered, and some or all of the chairs will probably be filled. Rev. H. A. Brown, of the First Baptist church here, has gone to Richmond to look after his recent call from the new Baptist church there. Messrs. L. V. and E. T. Blum. proprietors of the old Salem Press and Blum's Farmers' and Planters' Almanac, to-day disposed of the entire plant of both, including a job office. to Messrs. C. E. Crist and J. L. Keehln. two young men, who have been in the employ of the old proprietors for several years. The new owners will take charge next Monday, and will continue the publication of the Press. which. by the way. has been conducted under the same management for a longer period than any newspaper in the State. The almanac was established in 1827 by the father of the two brothers, andis generally conceded to be the best-paying piece of property of the kind in North Carolina. The reason assigned for the sale is the old age of the Messrs Blum, one of whom is eighty-odd and the other seventy-odd. It required several thousand dollars to make the transfer.
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NORTH CAROLINA. Creameries have been completed at Statesville and Charlotte and are in opertion. The Wilmington alumni of the Keeley Institute have a "Kecley Bi Chloride of Gold Club." Thos. H. Hoke, of Lincolnton, a prominent merchant and chairman of the Dem ocratic county executive committee, died Thursday. The Comptroller of the Currency has declared a second dividend of 15 per cent. in favor of the creditors of the First National Bank of Wilmington, N. C., (insolvent), making in all 30 per cent. on claims proved amounting to $519,025.10. The Caraleigh Phosphate works at Raleigh turned last week. The less is $27,000. Fred Sherrill, the colored man shot at Winston Sunday night by Thomas Vin. FOD, died, and the murder has escaped. The mayor of Winston offered a reward of $100 for his arrest, and delivery to the citv authorities. SOUTH CAROLINA: An anti-high lic nce municipal ticket has been elected in Mt. Pleasant. The R. & D. shops at Columbia a'e again running full time, and pay out $14,000 monthly. X car load or was-um ped from the Edisto Mineral Spr.ngs at Orangeburg to Baltimere, Md., last week. The safe of Sullivan's store: at Williamston was blown open by burglars Tuesday night and $60 in money and valuable papers were stolen. Dr. Babcock, Supt of the State Insane Asyium was privately married Weduesday to Miss Katherine Guion, one of the nurses of the institution. The vacant scholarships for the Cita. del Academy this year are Abbeville 2, Beaufort 2. Colletin 1, Marion 1, Union 1, Charleston 1, Edgefield 1, Orangeburg ?, Sumter, 1, York 1.
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THREE STATES' BRIEFS. Telegraphic Dispatches From Many Points of Interest. The Fields of Virgina, North and South Carolina Carefully Gleaned For News. VIRGINIA. A Ladies' Bicycle Club has been organized in Salem. Rev. Sam Jones has begun a series of meetings in Harrisonburg. Norfolk iron workers have a movement on foot looking to the reduction of the number of hours of a day's labor. The following appointments have been made to the West Point Military Academy: David R. Powers. Jr., Port Royal, with Willard N. Newhill, of Irvington, alternate. The Salvation Army has lost their suit against the city of Salem. This case has caused considerable excitement, as on the verdict rest the future actions of the "Salvation Army" in Roanoke county. An effort will made to get Governor McKinney to pardon the nineteen-years. old girl, Octavia Hodges, who was committed to the penitentiary last week for six years for the killing of a sewingmachine agent named Cunningbam. She claims that the shooting was done in self defense. NORTH CAROLINA. Creameries have been completed at Statesville and Charlotte and are in opertion. The Wilmington alumni of the Keeley Institute have a "Kecley Bi Chloride of Gold Club." Thos. H. Hoke, of Lincolnton, a prominent merchant and chairman of the Dem ocratic county executive committee, died Thursday. The Comptroller of the Currency has declared a second dividend of 15 per cent. in favor of the creditors of the First National Bank of Wilmington, N.C., (insolvent), making in all 30 per cent. on claims proved amounting to $519,025.10. The Caraleigh Phosphate works at Raleigh turned last week. The less is $27,000. Fred Sherrill, the colored man shot at Winston Sunday night by Thomas Vin. FOD, died, and the murder has escaped. The mayor of Winston offered a reward of $100 for his arrest, and delivery to the city authorities. SOUTH CAROLINA: An anti-high lic nce municipal ticket has been elected in Mt. Pleasant. The R. & D. shops at Columbia are again running full time, and pay out $14,000 monthly. A car load or ped from the Edisto Mineral Springs at Orangeburg to Baltimere, Md., last week. The safe of Sullivan's store at Williamstou was blown open by burglars Tuesday night and $60 in money and valuable papers were stolen. Dr. Babcock, Supt. of the State Insane Asylum was privately married Wednesday to Miss Katherine Guion, one of the nurses of the institution. The vacant scholarships for the Cita. del Academy this year are Abbeville 2, Beaufort 2. Colletin 1, Marion 1, Union 1, Charleston 1, Edgefield 1, Orangeburg 3, Sumter, 1, York 1.