13271. Bank of Commerce (Buffalo, NY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 15, 1896
Location
Buffalo, New York (42.886, -78.878)

Metadata

Model
gpt-5-mini
Short Digest
782f85e2093c0e32

Response Measures

None

Description

Articles (Oct–Dec 1896) report heavy withdrawals leading directors to suspend the Bank of Commerce (Oct 15, 1896) and place it in the hands of the State Banking Department; later receivers were appointed (late Nov/Dec 1896) and reorganization attempts failed. Cause is described as long‑standing impaired capital and heavy withdrawals (bank-specific problems). No reopening is reported.

Events (3)
1. October 15, 1896 Run
Cause
Bank Specific Adverse Info
Cause Details
Large/heavy withdrawals driven by affairs of long standing and impaired capital known in banking circles; directors suspended to avoid making themselves criminally liable.
Measures
Directors suspended payments and placed affairs in the hands of the State Banking Department for examination.
Newspaper Excerpt
At 2 a. m. the directors of the Bank of Commerce ... owing to the heavy withdrawals, the bank was compelled to suspend business
Source
newspapers
2. October 15, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors decided to suspend because of heavy withdrawals and to allow examination by the State Banking Department; capital apparently impaired and officers had resigned earlier.
Newspaper Excerpt
The Bank of Commerce has suspended business, pending an examination into its affairs by the banking department.
Source
newspapers
3. December 2, 1896 Receivership
Newspaper Excerpt
Two receivers named. ... Justice Childs today appointed Henry H. Parsons ... and John R. Hazel, as receivers for the Bank of Commerce.
Source
newspapers

Newspaper Articles (19)
1. October 15, 1896 Evening Star Washington, DC
Article from Evening Star, October 15, 1896

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EXPECT TO RESUME. Directors of the Bank of Commerce of Buffalo Decide to Suspend. BUFFALO, N. Y., October 15.-No statement of the assets and liabilities of the Bank of Commerce, whose board of directors decided to suspend today, has yet been made. The bark was supposed to be one of the soundest financial institutions in the city. The individual deposits were $1,059,960; bank deposits, $547,490; loans and discounts. $1,788,920. It is hoped by the directors that after examination by the state banking department the Bank of Commerce will be enabled to resume business.

2. October 15, 1896 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 15, 1896

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Bank Suspension at Buffalo, Buffalo, Oct. 15-At 20'clock this mornlog the directors of the Bank of Commerce, one of the leading financial institutions in this city, announced that owing to the heavy withdrawals the bank was compelled to suspend business and plac e its affairs in the hands of the banking department for examination.

3. October 16, 1896 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 16, 1896

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MAY RESUME BUSINESS. Directors of the Buffalo Bank of Commerce Are Hopeful. BUFFALO, N. Y., Oct. 15.-No statement of assets and liabilities of the Bank of Commerce, whose board of directors decided to suspend business to-day, has yet been made. The bank was supposed to be one of the soundest financial institutions in the city. The individual deposits were $1,659,968 and bank deposits, $547,548; loans and discounts, $1,788,920. It is hoped by the directors that, after examination by the State banking department, the Bank of Commerce will be enabled to resume business. It was learned this afternoon that President R. R. Hefferd, of the bank, resigned that office Oct. 1. For two weeks, therefore, the bank has been without a president or cashier. Attempts at reorganization having failed, there was nothing honorable left to do but close the doors. The following statement has been given out: "The doors of the bank have been closed, not because it had not money to pay out, but because it was the desire of the officers of the bank to do full justice to its creditors and not make themselves criminally liable in case it was found that the bank's capital was impaired."

4. October 16, 1896 New-York Tribune New York, NY
Article from New-York Tribune, October 16, 1896

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A BUFFALO BANK GOES UNDER. FORCED TO CLOSE BY HEAVY WITHDRAWALS NO RUN ON OTHER BANKS. Buffalo, Oct. 15. - The Bank of Commerce of this city closed its doors this morning pending an examination by the Banking Department. Withdrawals from the bank have been recently quite large, and at a meeting of the Board of Directors last night it was deemed expedient to suspend and place the bank in the hands of the Banking Department. The directors, however, expect that the bank may be able to resume in a short time. The Bank of Commerce was organized of in $300,000 July, 1873, and is quoted as having a surplus and a capital of $200,000. The officers are: Prestdent. R. R. Hefford; vice-president, William H. Gardner: cashier, William P. Reed: directors, James Tillinghast, R. R. Hefford, James F. Chard, William H. Gardner, William H. H. Newman and William H. Gratwick. Cashier Reed resigned a fortnight ago, ill-health being given as the cause of his retirement. There was no run upon any of the city banks as A result of the suspension of the Bank of Commerce. At several banks visited this morning deposits were being made as usual. The presidents and cashiers united in saying that the embarrassment of the Bank of Commerce had not been felt by them at all. There was not even a suggestion to of withdrawals anywhere. They attributed this the fact that the trouble in the Bank of Commerce was due not to present business conditions. but to affairs of long standing. which have been known inside banking circles for some time. Colonel Rochester, cashier of the Third National Bank, and a member of the Clearing House Committee. said: "Our committee desires to state that the reports of all the banks of the city to the Clearing House last Friday showed them to be in an exceptionally strong condition. None of the banks, so far as I know, and I think I can speak from accurate information, are in any way involved with the Bank of Commerce, either by loans to them or by exchange of any securities. The Bank of Commerce did not call upon the Clearing House Committee for assistance, but the directors and stockholders decided to suspend until they could ascertain exactly how they stood, as the officers and directors had no wish to make themselves criminally liable in receiving deposits when their capital was impaired."

5. October 16, 1896 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, October 16, 1896

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Big Buffalo Bauk Suspends. BUFFALO, Oct. 16.-At 2.a. m. the directors of the Bank of Commerce, one of the leading financial institutions of the city, announced that, owing to the heavy withdrawals, the bank was compelled to suspend business and place their affairs in the hands of the banking department for examination. Nothing can be learned as to the assets and liabilities.

6. October 16, 1896 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, October 16, 1896

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Buffalo Bank Suspends. BUFFALO, N. Y., Oct. 15.-The Bank of Commerce has suspended business, pending an examination into its affairs by the banking department. The directors state that on account of large withdrawals they decided to take this step.

7. October 17, 1896 The Diamond Drill Crystal Falls, MI
Article from The Diamond Drill, October 17, 1896

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LATER. Mrs. Col. Vernon, of Red Key, Ind., gave her two small children a dose of poison and then poisoned herself. No cause is known for the deed. Michael Boyd and a man named Murphy were asphyxiated in a large gas tank at Syracuse, N.Y. Thomas White Ferry, ex-United States senator, died at his residence in Grand Haven, Mich., from cerebral apoplexy, aged 69 years. The Marine national bank at Duluth, Minn., suspended with heavy liabilities. The Second national bank. the oldest financial institution in Rockford, III., closed its doors, having gone into voluntary liquidation. Settlers in Ontonagon and Gogebic counties, Mich., were meeting with heavy losses by forest fires. The Bank of Commerce, one of the leading financial institutions in Buffalo, N. Y., suspended because of heavy withdrawals. The Union Pacific fast mail was held up by three masked men near Uintah, Utah, and the mail car was robbed. James Michael, the Welshman, broke the world's five-mile bicycle record ons the Garfield park track in Chicago, his time being 9:17 1-5. A gang of masked men looted the little town of Peryear, Tenn., and then started fires in many places, but the were extinguished with small loss. ) George Harris, William Smith an Charles Jones were killed and two cit! zens were wounded during an attemp to rob the bank at Meeker, Cal. Cummings Bros., exporters of hard wood lumber and logs at Houston, Texa failed for $100,000. Three men were fatally injured anti 20 others were more or less seriously injured in a trolley accident at a rail way crossing in Hazleton, Pa. J. A. White shot and killed Richard M. Adams and William Jackson, police officers who were trying to arrest him at Columbus, Ga., and was himself shot dead. In a wreek on the Florida Central road near Swansea, Gr... Baggage Master Lines and Mail Clerk Thomas were pinned down in the debris and burned to death. The annual report of the third assistant postmaster general for the past fiscal year shows that the total expenditure for the year was $90,626,296 and receipts $82,499,208, leaving a deficiency of $8,127,088, or a reduction of $1,679,956 less than the preceding year.

8. October 17, 1896 The Sun New York, NY
Article from The Sun, October 17, 1896

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Buffalo's Suspended Bank. BUFFALO, Oct. 16.-State Bank Examiner Clark took possession of the suspended Bank of Commerce this morning and began and investigâtion of its accounts. Mr. Clark held a consultation with the directors this morning and afterward said it would be several days before he will be in a position to make a statement of the bank's condition. So far nothing has come under his attention which will require any order of court.

9. November 24, 1896 Kansas City Daily Journal Kansas City, MO
Article from Kansas City Daily Journal, November 24, 1896

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Certain to Be a Receiver. Buffalo, N. Y., Nov. 23.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless. Other bankers are not inclined to assist, and stockholders of the suspended bank cannot agree now among themselves any more than they could before its affairs reached such a shape as to compel suspension.

10. November 24, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, November 24, 1896

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DAY'S LIST OF FAILURES Schedules in the Assignment of Hilton, Hugbes & Cc., Filed. New York, Nov. 23.-Schedules in the assignment of Albert B. Hilton, who conducted business under the firm name of Hilton, Hughes & Co., successors to A. T. Stewart & Co., were filed today. The schedules shows liabilities to the amount of $1,891,376; nominal assets $1,600,347, and actual assets $732,174. Buffalo, N. Y., Nov. 23.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless. Other banks are not inclined to assist and the stockholders of the suspended bank cannot agree now among themselves. Detroit, Mich., Nov. 23.-Mably & Co., one of the leading retail clothing firms of the city, this morning filed a chattel mortgage for $150,000 to the Union Trust company as trustee for their creditors. A blanket mortgage covering the entire stock of clothing, boots and shoes, men's furnishings, etc., was also made to the Union Trust company. In the circuit court Judge Donovan appointed the Union Trust company receiv er, with power to at once take possession of the store and carry on the business in accordance with the terms of the chattel mortgage. The indebtedness of the firm is a IIttle less than $400,000. Bruce Goodfellow, president of the company, said later that he hoped that the firm would be able to reorganize and continue the business.

11. November 24, 1896 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 24, 1896

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Other Business Troubles. PHILADELPHIA, Nov. 23.-A bill in equity was filed in the United States Circuit Court to-day by George A. Lee, of New York, against the Pennsylvania Traction Company, of Lancaster. Lee says he is a holder of $10,000 of the bonds issued and secured by the mortgage of Jan. 5, 1894, and of bonds to the aggregate amount of $700,000, issued under and secured by the mortgage of April 5, 1894. Lee claims the company has defaulted in the payment of interest, and he asks that a receiver be appointed. BUFFALO, N. Y., Nov. 23. - That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless. Other bankers are not inclined to assist, and the stockholders of the suspended bank cannot agree now among themselves any more than they could before its affairs reached such a shape as to compel suspension. WASHINGTON, Nov. 23.-The Controller of the Currency has received information of the failure of the Dakota National Bank, of Sioux Falls, S. D. The bank has a capital of $50,000. and at the time of the last report it had a surplus of $50,000 and liabilities amounting to $230,000, exclusive of stock. Bank Examiner Zimmerman has been placed in charge. NEW YORK, Nov. 23.-Schedules in the assignment of Albert B. Hilton, who conducted business under the firm name of Hilton. Hughes & Co., successors to A. T. Stewart & Co., were filed to-day. The schedules show liabilities to the amount of $1,891,576; nominal assets, $1,600,342, and actual assets of $732,174. LONDON, Nov. 23.-The failure is announced of Webster & Bennie, warehousemen, with liabilities estimated at £180,000 ($900,000) and estimated assets at £120,000 ($600,000.)

12. November 24, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, November 24, 1896

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Bank Will Suspend, BUFFALO, N. Y., Nov. 23.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless. Other bankers are not inclined to assist, and stockholders of the suspended bank cannot agree among themselves, any more than they could before its affairs reached such a shape as to compel suspension.

13. November 29, 1896 New-York Tribune New York, NY
Article from New-York Tribune, November 29, 1896

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RECEIVERS FOR A BUFFALO BANK. Buffalo, Nov. 28.-It is stated here that Superintendent Küburn of the State Banking Department has advised Attorney-General Hancock that, unless the Buffalo Bank of Commerce is in condition to resume business by December 1, he will apply to the Supreme Court for the appointment of John R. Hazel and Henry H. Persons as receivers. Mr. Hazel is the Eric County member of the State Republican Executive Committee, and Mr. Persons is an ex-State Senator and a banker of East Aurora, this county. The fees will amount to between $100,000 and $150,000.

14. December 3, 1896 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, December 3, 1896

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committed suicide in Philadelphia. It is proposed to present an address to Rev. Dr. John Watson (Ian Maclaren) before his departure from New York for England in a few weeks. Leadville, Col. The report of a probable sympathetic strike of miners in other camps in aid of the Leadville strikers is declared to be unfounded. Buffalo, N. Y.-The Bank of Commerce will go into the hands of a receiver. Other bankers are not inclined to assist the stockholders. Washington Consul Weisike reports from Managua, Nicaragua, to the state department that the duty on lard has been suspended for six months. Gen. John B. Gordon announces that the next annual reunion of the United Confederate Veterans will be held at Nashville, Tenn., May 5, 6 and 7, 1897. A monument to New Jersey troops who took part in the battles of Chickamauga, Chattanooga and Missionary Ridge was dedicated at Orchard Knob, Tenn. Senator Chandler, of New Hampshire, while on a visit to New York, spoke in favor of short-term notes to raise revenue to pay government expenses. Captain J. M. Mitchell and L. C. Bryan of Chicago were probably fatally burned by an explosion of gasoline which wrecked their boat Pilot at Cairo, Ill. Thomas S. Jones was arrested at Birmingham, A'a., on the charge of embezzling $19,000 while holding the office of sheriff and tax assessor of Augusta, Ga. The funeral of Frank P. Arbuckle, of Denver, who the police believe was murdered, took place at St. Chrysostom's Protestant Episcopal church, New York city. Patrick Meagher, a justice of the peace at Gilbers, a suburb of Elgin, Ill., and his mother were found dead in bed at their home. Their deaths were caused by asphyxiation. Chairman Bynum of the national democracy who is in New York, stated that the sound-money democrats intend maintaining their organization throughout the country. New Haven, Conn. General E. E. Bradley has been nominated for mayor by the gold standard democrats and the republican nominees for auditor and city clerk are indorsed. At Newark, N. J., Miss Elizabeth Smith, daughter of United States Senator James Smith, Jr., was married to Peter Hauck, Jr., son of the millionaire brewer of Harrison, N. J. Assemblyman Abell, of Brooklyn, intends introducing in the New York legislature a bill to place all gas, electric light, telephone and telegraph companies under state supervision. The liabilities of the assigned firm of Hilton, Hughes & Co. of New York are $1,891,576.18. The nominal assets are $1,600,312.47; actual assets, $782,174.70. The employes have been paid. Chillicothe, Ohio Steps have been taken by Joseph S. McKell and other capitalists for the organization of a company for the purpose of operating a factory for the manufacture of beet sugar. Fort Wayne, Ind. A. C. Hollibaugh, who was arrested here a few days since by the government officials has been identified as the man who passed forged checks at Logansport and Plymouth. Countess Jarocke, who for twenty years has vainly pressed a claim for $2,000,000 held by the government belonging to her ancestor, Gen. Pulaski, has wearied of the struggle and threatened suicide. The president has filled the vacancy in the chief justiceship of the court of claims, caused by the death of Judge Richardson, by the promotion to that office of Judge Charles C. Nott, now a member of the court. Washington The commissioner of patents has issued an order directing that any person disbarred from practice before the patent office by order of the commissioner be denied access to the files of the office. Topeka, Kan. John W. Breidenthal, chairman of the democratic state central committee, has announced his candidacy for the United States senate, to succeed William A. Peffer. Senator Peffer is a candidate for re-election. Captain J. H. Stickle, at one time a candidate for United States senator, has been sentenced to two years in the penitentiary for embezzling $800 of the funds of the defunct Blue Valley bank of Hebron, Neb., of which he was president. Mrs. Swearpier, wife of a rancher, living near Tacoma, cut the throats of her three little girls, aged respectively 5 years, 3 years and 9 months. She then used the knife on herself, inflicting a severe but not necessarily fatal wound. Mrs. Nat Godwin in her suit for a share of her husband's income claims that he is the owner of several plays from which he receives an annual in-

15. December 3, 1896 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, December 3, 1896

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TALK OF WALL STREET. A favorable prospective feature is the likelihood of no gold exports from here next spring, due to heavy accumulations of exchange now. The Omaha has earned a dividend on common stock and many directors expect a dividend, probably small, will be declared in January. The surplus for the stock for the year will be in excess of $500,000, which will be enough to pay 2½ per cent. The Vanderbilt contingent is bullish on Omaha and higher prices are predicted for it. Burlington will probably get above 80 on this rally. Omaha gross increase, $726,524 for year to date; last year's surplus, after dividend on preferred, $348,258. Earnings for Northern Pacific, third week of November, decrease, $97,942; from July 1, decrease, $85,533. ANTHRACITE POOL. NEW YORK, Dec. 2.-The agreement entered into on Feb. 1 of this year by the presidents of the anthracite coal mining and carrying companies, at the instance of powerful financial interests, will expire nominally on Jan. 1, 1897. At the time of the agreement, however, it was arranged that the contract would run on subject to thirty days' notice from any interest. There is the best authority for the statement that no notice of withdrawal has been filed, and that none will be. The companies for the first time in the history of the anthricite trade, kept faith with each other absolutely, and all interested looked confidently for the banner year of the industry. The well-laid plans were, however, nullified to a very large extent by the continued depression in general business disturbances in the money market and anti-election agitation. The first six months of the trade were very poor, as the agreement did not really become operative until June, and the tonnage for the year, as compared with 1895, will show a heavy falling off. Recently business has been very light, more particularly at tide water, where prices, with the single exception of chestnut, which has been in fairly good demand, have been and are now being cut twenty-five cents below the nominal September circular. Trade is now improving under the stimulus of the colder weather. but officials of the various companies agree that the best that can be expected in the present month is to get up to the September figures. BANK CLEARINGS. St. Paul-$783,990.63. Minneapolis-$2,537,632.75. New York-Clearings, $141,915,611; balances, $9,639,947. Boston-Clearings, $20,682,991; balances, $2,334,961. CLOTHING FAILURE. BOSTON, Dec. 2.-The assignment of the wholesale clothing firm of Whitten-Burdett Co., of this city, is announced today. An account of stock is now being taken, and a statement of assets and liabilities will be prepared as soon as possible. NEW YORK MONEY. NEW YORK, Dec. 2.-Money on call, easy at 1½2@2 per cent; last loan, 2, closed 1½2 per cent. Prime mercantile paper, 4@5 per cent. Sterling exchange easier, with actual business in bankers' bills at $4.861/2@4.86% for demand and $4.83%@4.83% for sixty days. Posted rates, $4.841/2 and $4.871/2@4.88. Commercial bills, $4.83. Bar silver, 651/8c; silver certificates, CHICAGO MONEY. CHICAGO, Dec. 2.-Money steady at 6@7 per cent. New York exchange, 60c premium. Foreign exchange firm; demand, $4.86%; 60 days, $4.83%. TREASURY STATEMENT. WASHINGTON, Dec. 2.-Today's statement of the condition of the treasury shows: Available cash balance, $224,814,190; gold reserve, $131,651,631. FOREIGN FINANCIAL. NEW YORK, Dec. 2.-Evening Post's London financial cable: The stock markets were quiet and irregular today. The chief feature was the rise in Americans, which were more active than for several days past. As cabled on Monday, the buying of Americans here in the last two days has been of a good kind and today prices shot up from the opening, New York prices supporting the rise here. The close was at the best. RUBBER DIVIDEND. NEW YORK, Dec. 2.-The United States Rubber company has declared a dividend of 4 per cent on preferred stock, payable Jan. 15. Action on the dividend on the common stock was deferred until Oct. 23. TWO RECEIVERS NAMED. BUFFALO, N. Y., Dec. 2.-Justice Childs today appointed Henry H. Parsons, of East Aurora, and John R. Hazel, as receivers for the Bank of Commerce. The officials and a majority of the stockholders of the bank opposed the appointment and urged that the Fidelity Trust and Guaranty company be appointed to wind up the bank's affairs. A bond of $100,000 will be required from the receivers.

16. December 4, 1896 Kansas Agitator Garnett, Greeley, Topeka, KS
Article from Kansas Agitator, December 4, 1896

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KANSAS AGITATOR, GARNETT, KANSAS. MORE PROSPERITY. TRENTON, N. J., Dec. 2.-Two men were CORRESP shot, one of them seriously, to-day, in a fracas between two men who were seeking employa @@ ment on the Trenton reservoir. IN UNION THERE Hundreds of men out of work congregated Never before in the at the reservoir site, hoping to get employment. it been more necessary Among the crowd were many Hungarians and form, in the line of Italians, and these the other workmen tried to churches and the mor drive away. This attempt was resisted, and one Italian named Salvator drew a revolver and unite, to stand catalogu a world-wide evil that i fired several shots into the crowd. One man was shot in the side and arm. His condition a special target. Wit is considered serious. Another man named deceitful phrases, those Wm. Lennox was shot in the arm. Salvator evil upon our state inva was arrested. ety and every organiza This was a fight for bread. They are thoroughly * with money and means Fowler & Sons Packing Company, of Kansas our prohibitory law. At our political state o City, will reduce wages of employes IO per inant parties, the liquo cent., Jan. I. by its delegates, who C interests, which, thougl Receivers have been appointed for the Bank blow at our prohibitory of Commerce, of Buffalo, N. Y. * Now, we ask, who re * resubmission of our pro In the little city of Monroe, La., there are members of the Christia forty families utterly destitute of food. The cur state?-they who citizens are collecting food and funds for them. the soul's salvation and

17. December 17, 1896 The Butler Weekly Times Butler, MO
Article from The Butler Weekly Times, December 17, 1896

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Henry H Pearsons and John R. Hazlas are arpointed receivers for the Buffalo, N. Y., Bank of Commerce.

18. December 24, 1896 The Morning News Savannah, GA
Article from The Morning News, December 24, 1896

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BANK BOOKKEEPER IN JAIL. He Is Accused of Embezzlement and Falsifying the Books. Buffalo, N. Y., Dec. 23.-Edwin J. Smith, individual bookeeper of the Bank of Commerce, has been arrested on complaint of the receivers of the bank, charged with falsifying the books, and effecting practical embezzlement of between $2,500 and $3,000. Smith has confessed.

19. October 7, 1898 New-York Tribune New York, NY
Article from New-York Tribune, October 7, 1898

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# HE BORROWED MUCH MONEY. A JERSEYMAN ACKNOWLEDGES A LARGE INDEBTEDNESS, WITH ONLY HYPOTHETICAL ASSETS. Trenton. N. J., Oct. 6.-A bankruptcy petition has been filed in the United States District Court for New-Jersey by Andrew Brown, of Millburn, N. J. The petition says that Brown is indebted to the extent of $841,858.58, consisting principally of judgments obtained upon promissory notes. The creditors are in most instances either banks or individuals who accommodated Brown. In his petition Brown says he has assets amounting to $271,000. This is made up of a claim against the Bank of Commerce, of Buffalo. Brown states in his petition that in accordance with an agreement made in August, 1895, he turned over to the bank a large amount of real estate and other property. The bank, he charges, failed to carry out its part of the agreement, and he has been damaged to the extent of $271,000. A suit for this amount is now pending in the United States District Court for Erie County, N. Y., against H. H. Persons and John R. Hazel, receivers for the Bank of Commerce. The amount due by Brown to his creditors is for debts incurred in 1889 and since that time.