Article Text
Asks for Receiver. Hartford, Conn., Dec. 22.-A petition for the appointment of a receiver for the Windham County National bank of Danielson, was presented in the superior court today.
1365. Windham County National Bank (Danielson, CT)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- national
- Bank ID
- 1360
- Charter Number
- 1360
- Start Date
- December 22, 1903
- Location
- Danielson, Connecticut (41.803, -71.886)
Metadata
- Model
- gpt-5-mini
- Short Digest
f531ef3e95afde87
Response Measures
None
Description
Bank was closed by state court order Dec 22, 1903 after a stockholder's petition alleging officers used bank funds for stock speculation. Federal Comptroller appointed a receiver; federal receiver superseded state appointee. Bank was examined and found solvent and authorized to resume business Jan 15, 1904. No bank run is reported in the articles.
Events (6)
1.
June 29, 1865
Chartered
- Source
- historical_nic
2.
December 22, 1903
Receivership
- Newspaper Excerpt
- a temporary receiver was appointed to-day for the Windham County National bank of Danielson... Judge Gager ... appointed Joseph P. Tuttle as temporary receiver; Controller of the Currency appointed Ellis W. Pepper as receiver; federal examiner assumed possession.
- Source
- newspapers
3.
December 22, 1903
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Petition alleged president and certain directors had been using bank funds for stock speculation and committed fraudulent acts; capital possibly insufficient for indebtedness.
- Newspaper Excerpt
- by the judge's order, the bank was closed until January 14; a notice to that effect having been posted on the doors of the institution
- Source
- newspapers
4.
December 23, 1903
Other
- Newspaper Excerpt
- Two receivers for the Windham County National Bank... federal officer in control of affairs (dispute between state-appointed and federal-appointed receivers).
- Source
- newspapers
5.
December 24, 1903
Other
- Newspaper Excerpt
- Receiver finds the cash accounts are correct... scrutinizing the paper and collateral (examination ongoing).
- Source
- newspapers
6.
January 15, 1904
Reopening
- Newspaper Excerpt
- The Windham County National Bank... was authorized by the controller of the currency to resume business... receiver reports the bank is entirely solvent and its capital unimpaired.
- Source
- newspapers
Newspaper Articles (21)
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WINDHAM NAT'L BANK FAILS ACTION BY FORMER CONGRESSMAN RUSSELL'S WIFE. On Petition by Her a Temporary Receiver is Appointed-Allegation Made That the President and Certain Dt. rectors Have Been Using the Funds of the Institution for Stock speculation. Hartford, Dec. 22.-On petition of Mrs. Ella S. Russell of Killingly, widow of Former-Congressman Charles A. Russell, a temporary receiver was appointed to-day for the Windham County National bank of Danielson. The complaint alleged that the president of the bank, and certain directors have been using the funds of the bank for stock speculation to such an extent that it is doubtful if the capital stock of the bank is equal to the outstanding indebtedness, Judge Gager of the superior court appointed City Attorney Joseph P. Tuttle of Hartford as temporary receiver, and by the judge's order, the bank was closed until January 14; a notice to that effect having been posted on the doors of the institution late this afternoon. Danielson, Dec. 22.-The last published statement of the condition of the Windham County National bank is dated at the close of business November 17, 1903. It is as follows: Resources: Loans and discounts $225,933.89 Overdrafts, secured and unsecured 1,639.96 United States bonds to secure circulation 25,000.00 Premiums on United States bonds 1,000.00 15,000.00 Stocks, securities, etc 3,000.00 Furniture and fixtures Due from national banks not 1,015.44 reserve agents Due from state banks and 134.29 bankers Due from approved reserve 47,028.32 agents 2,049.23 Checks and other cash items 4,000.00 Notes of other national banks 436.04 Fractional paper currency, etc. Lawful money in bank: $17,080 Specie 8,000 Legal tender -25,380.00 Redemption fund with United States treasurer 1,250.00 $352,921.17 Total resources Liabilities: $ 50,000.00 Capital stock paid in 10,000.00 Surplus fund Undivided profits less expenses 5,471.70 and taxes paid National bank notes outstand25,000.00 ing 11,433.45 Due to other national banks Due to trust companies and 7,791.82 savings banks Individual deposits subject to check 213,912.76 26.37 Certified checks 2,584.37 Cashier's checks oustanding 6,700.00 Notes and bills rediscounted Bills payable including certificates of deposit for money 200.20 borrowed Total $352,921.17 The report is signed by the president and directors. In a recent report, the state board of equalization set the value of the bank shares at $107 each.
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present he is secretary and trust officer of the Central Trust Company of Illinois, at Chicago. Mr. Murray has accepted the appointment. His nomination will be sent to the Senate immediately after the holidays. The appointment is made upon the personal recommendation of Secretary Cortelyou, who has known Mr. Murray for many years. His new position pays $5,000 a year. Secretary of War Root said this morning that the President had never as yet asked him to accept the chairmanship of the republican national committee as has been reported. Mr. Root admitted, however, that when the question of the successor to Senator Hanna as chairman was recently discussed there was some mention of his name in this connection. The postmaster general today appointed C. M. Waters general superintendent of the division of salaries and allowances of the Postoffice Department, to take effect January 1. This is the position formerly held by Geo. W. Beavers, of New York, under indictment for bribery. Secretary Cortelyou, of the Department of Commerce and Labor, today decided to order the deportation of the English glass blowers who have been detained at Ellis Island by the immigration authorities. Mr. Bunau-Varilla, the Panama Minister, presented to the State Department a complaint received from the Panama Consul at San Francisco to the effect that the San Francisco postoffice authorities had refused to transmit mail addressed to the "Republic of Panama" and that they had insisted on its being addressed "Department of Panama, Republic of Colombia." Acting Secretary Loomis at once called the attention of the Postmaster General to the matter, and instructions will be forwarded to the San Francisco postoffice to rectify the matter. The Comptroller of the Currency has appointed Ellis D. Pepper receiver for the Windham County National Bank, of Danielson, Conn., and has instructed National Bank Examiner Barrows to take and hold possesion of the bank until Receiver Pepper arrives. The bank had already been closed by the State authorities, who, upon the application of Mrs. Ella S. Russell, widow of ex-Congressman Russell, appointed Joseph P. Tuttle receiver. She alleged that the officers of the bank had been using the funds for purposes of speculation. The action of the federal authorities will supersede those of the State. The apostolic delegation has received word from Rome that the Pope has granted dispensation from abstinence on the coming New Year's Day, which falls on Friday. The delegation has sent out circular letters to all the bishops notifying them of this fact. Governor Taft's recent tentative agreement with the friars in the Philippines for the sale of their lands to the United States has been approved by the President. The amount to be paid for the lands is $7,239,784. A conference was held at the White House this morning between the President and Secretaries Root and Shaw for the purpose of making arrangements for an issue of 4 per cent. bonds in payment for the lands. President Roosevelt today granted eleven pardons and denied the applications of thirteen petitioners for executive clemency. Among those pardoned were David V. Rieger, convicted in 1899 at Kansas City of misapplying certain credits of the Missouri National Bank; Charles H. Snowden, sentenced in New York last year to two and a half years in the Elmira Reformatory for embezzling letters, and Howard C Harrington, serving a five year term at San Juan, Porto Rico, for counterfeiting. The other cases include a number of the postoffice robbers, thieves and burglars in the Indian Territory and Texas. The Postoffice Department has issued a fraud order against the Golden Thoughts Publishing Company, of Mansfield, Ohio, forbidding it further use of the mails. The publishing company, of which George W. Cupp is the head, promised prizes aggregating nearly $40,000 for correct guesses on the vote in Ohio for Secretary of State, November 4, 1902. It published a list of prize winners which the department declares to be largely fictitious. Cupp was called to Washington to explain to the attorney general for the postoffice department and admitted that he had no tangible assets to pay the promised premiums, but that he hoped to be able to get the money. Inexhaustible oil and coal deposits have recently been discovered in eastern Asia, according to a report sent to the Department of Commerce by United States Commercial Agent Greener at Vladivostock, Siberia. While serving with the troops on guard at the tomb of President McKinley, at Canton, O., Second Lieutenant Floyd C. Miller, of the First Infantry, disappeared on December 4 and has not been heard from since,
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STOCK SPECULATION ed as Reason for Asking for Receivership for This Bank. rtford. Conn., Dec. 22.-A petition 1 receivership for the Windham ty National Bank of Danielson. presented in the superior court e Judge Gager by Mrs. Ella S. ell of Killingly, widow of Former ressman Russell. today, alleging the president of the bank and cerof the directors have been using unds of the bank for stock specu1 to such an extent that it is ful if the capital stock of the is equal to the outstanding indness. She further alleges many ulent acts by the bank officers n she named. the judge's order. the bank was 1 until Jan. 14, a notice to that having been posted on the doors e institution. her complaint Mrs. Russell names efendants Comfort Starr Burlinof Brooklyn, Conn.. the bank lent, Charles P. Backus, the er, and James Perkins, John el and Albert D. Putnam, direcall of Killingly. the complaint presented by Mrs. 11 she says that she represent's S as well a herself, she being the r of 10 shares of the stock of the She alleges that the defendants d a syndicate for the purchase d speculation in stocks on borI money and that they borrowed used for this purpose money of ank to a considerable amount. Si alleged further that Burlingame, resident of the bank. spent a large of his time in New York directing eculation which was on the whole cessful, that Burlingame by tele: or otherwise communicated with us at the bank or elsewhere the sity of raising money to answer of stock brokers for margins and Backus thereupon called in other ors of the bank who were memof the syndicate and that the five ors of the bank she alleges con-
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A Receiver Appointed. Washington, Dec. 22.-The controller of the currency has appointed Ellis W. Pepper, at present receiver of the Southport National Bank of Connecticut. to be receiver of the Windham County National Bank of Danielson, Ct. The controller has instructed the national bank examiner at Danielson to remain in possession of the bank until the receiver he has named can relieve him. Controller Ridge ley said that under the law he would permit receivers appointed by state authority to take control of the bank's affairs.
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WINDHAM BANK CLOSED. Officers Charged with Using Funds in Speculation. Hartford. Conn., Dec. 22-On petition of Mrs. Ella S. Russell, of Killingly, widow of former Congressman Charles A. Russell, a temporary receiver was appointed to-day for the Windham County National Bank, of Danielson. The complaint alleged that the president of the bank. and certain directors have been using the funds of the bank for stock speculation to such an extent that it is doubtful if the capital stock is equal to the outstanding indebtedness. Judge Gager, of the Superior Court, appointed Joseph P. Tuttle, City Attorney of Hartford, as temporary receiver, and by the judge's order. the bank was closed until January 14, a notice to that effect having been posted on the doors late this afternoon. In her complaint Mrs. Russell names as defendants Comfort Starr Burlingame, of Brooklyn, Conn., the bank president: Charles P. Backus, the cashier, and James Perkins, John A. Payne and Albert D. Putnam, directors, all of Killingly.
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MANY FRAUDULENT ACTS CHARGED IN COMPLAINT Receiver Appointed for Windham County National Bank on Petition of Mrs. Ella S. Russell. SPECULATED ON FUNDS HARTFORD, Conn., Dec. 22.-A petition for the appointment of a receiver for the Windham County National Bank of Danielson was presented in the Superior Court today by Mrs. Ella S. Russell of Killingly, widow of former Congressman Russell. She alleges that the president of the bank and board of directors have been using the funds of the bank for stock speculation to such an extent that it is doubtful if the capital stock of the bank is equal to the outstanding indebtedness. She further alleges many fraudulent acts by the bank officers. According to a recent statement the Windham County National Bank of Danielson, Conn., had on deposit $259,000. The capital stock is $50,000. Comfort Starr Burlingame, of Brooklyn, Conn., the bank president, Charles P. Backus, the cashier, and James Perkins, John Payne and Albert D. Putnam, directors, all of Killingley, are named as defendants by Mrs. Russell, who alleges that they formed a syndicate for the purchase of and speculation in stocks on borrowed money. To meet the calls for margins, Mrs. Russell avers that the directors and officials she names conspired to get her to borrow of the bank money to meet the necessities of arranging notes with different makers. Mrs. Russell declares that the defendants have carried notes which they knew were not good, at their face value, on the books of the bank in order to make it appear that the capital of the bank was unimpaired and the five officials voted to pay dividends to stockholders when they knew that the capital stock of the bank was impaired. At the hearing this afternoon' Joseph P. Tuttle, of Hartford, was appointed receiver.
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EXAMINER BARROWS IN CHARGE Receiver Appointed by Court Could Not Assume Controi of Failed Bank's Affairs. Danielson, Conn., Dec. 23.--In accord. ance with the order of Judge Gager of the state superior court, who after hearing in chambers at Hartford yesterday appointed Joseph P. Tuttle of that city receiver of the Institution on the petition of a stockholder. the doors of the Windham County National bank were not opened for business today. Among stockholders and depositors there was much interest as to the probable action of Receiver Tuttle in view of the fact that another receiver, Ellis W. Pepper. had been appointed by the national comptroller of currency Arthur Atwood. a director of the bank. who is also agent of the Quinebaug Cotton mills of this place, declared himself pleased with the action of the national comptroller and expressed confidence that the affairs of the Windham County bank would be found to be satisfactory Mr. Atwood is not one of the directors mentioned in the allegations presented before Judge Gager in Hartford by the petitioner for the receivership, Mrs. Charles A. Russell, wife of the late congressman. A LITTLE ANXIETY. A little anxiety was manifested today among people having money in the Windham County Savings bank. some of the officers of which are also directors of the national bank, but though there were some withdrawals of small amounts, the trouble did not reach the proportions of a run. John A. Payne is president of the savings bank and James Perkins and Albert D. Putnam are among the directors. They were all referred to in the complaint alleging speculation with the national bank funds filed In the Hartford proceedings yesterday. Officers of the savings bank said today that while they do not anticipate trouble reasonable precautions will be taken to protect the bank and no sums of very large amount will be paid out. MR. BARROWS IN CHARGE Hartford. Dec. Federal interference in the matter of receivership of the Windham County National bank of Danielson set awry the arrangement of the superior court, made through Judge Gager yesterday in this city, on the petition of Mrs. Ella S. Russell, widow of Congressman Russell. As a result of this petition of a stockholder of the bank Joseph P. Tuttle of Hartford was appointed temporary receiver under a bond of $20,000. When Mr. Tuttle went to Danielson to assume control of the bank's affairs and presented himself at that institution today he found United States Bank Examiner Edwin A. Barrows of Providence there. Mr. Barrows had already assumed control of the bank's affairs as a representative of Ellis S. Pepper. who was appointed receiver of the bank by the comptroller of the currency at Washington. Mr. Tuttle thereupon returned to Hartford. He said he would not enter a protest as he was satisfied that the Federal officer was in lawful authority. but he made a formal demand upon Mr. Barrows to turn over the bank's affairs. This demand was refused. In an interview Mr. Tuttle said that had 1 he reached the bank first, he would likewise have declined to vacate for Mr. Pepper or his representative. It was a question of which receiver would get there first and the Federal representative won. Attorney Edward D. Robbins, who represented Mrs. Russell in the court proceedings yesterday said today in relation , to the action of the comptroller of the currency that It was immaterial to him which receiver took control. He was of the opinion that whichever receiver got to the bank first would be recognized. He added that there was legal ground for the : a action taken in the Superior court, , stockholder having made application for a received.
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CONNECTICUT BANK CLOSES ITS DOORS. WASHINGTON, Dec. 23.-A federal receiver was today placed in charge of the Windham County National bank of Danielson, Conn., which was closed by the state authorities.
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TWO RECEIVERS FOR A CONNECTICUT BANK Man Appointed by State Court Found a Federal Officer in Control of Affairs. HARTFORD, Conn., Dec. 23.-Federal interference in the matter of the receivership of the Windham County National Bank of Danielson, set awry the receiver of the Supreme Court, made through Judge Gager, in this city, on the petition of Mrs. Ella S. Russell, widow of Congressman Russell. As a result of that petition of a stockholder of the bank, J. P. Tuttle, of Hartford, was appointed temporary receiver under a bond of $20,000. When Mr. Tuttle went to Danielson to assume control of the bank's affairs and presented himself at that institution to-day, he found that United States Bank Examiner Edwin A. Barrows had already assumed control of the bank's affairs, as a representative of Ellis S. Pepper, who was appointed receiver of the bank by the comptroller of the currency at Washington. Mr. Tuttle thereupon returned to Hartford. He made a formal demand upon Mr. Barrows to turn over the bank's affairs, but this demand was refused.
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Connecticut Bank Closed. Danielson, Conn, Dec. 24.-In accordance with the order of Judge Gager of the state superior court, who, after a hearing in chambers at Hartford, appointed Joseph P. Tuttle of that city receiver of the Windham National bank on petition of a stockholder, the doors of the bank were not opened for business. Among stockholders and depositors there was much interest as to the probable action of Receiver Tuttie in view of the fact that another recelver, Ellis W. Pepper, had been appointed by the national comptroller of the currency.
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TWO RECEIVERS Appointed for the Windham County Bank at Danielson, Ct. Hartford. Conn, Dec 23-Federal interference in the matter of the receivership of the Windham County National Bank of Danielson set awry the arrangement of the superior count, made through Judge Gager, yesterday, in this city on the petition of Mrs. Ella S. Russell, widow of Congressman Russell. As a result of this petition of a stockholder of the bank, Joseph P. Tuttle of Hartford, was appointed temporary receiver under a bond of $20,000. When Mr. Tuttle went to Danielson to assume control of the bank's affairs and presented himself at that institution, today, he found United States Bank Examiner Edwin A. Barrows of Providence, there. Mr. Barrows had already assumed control of the bank's affairs as a representative of Ellis S. Pepper, who was appointed receiver of the bank by the comptroller of the currency at Washington. Mr. Tuttle thereupon returned to Hartford. He said he would not enter a protest, as he was satisfied that the federal officer was in lawful authority, but he made a formal demand upon Mr. Barrows to turn over the bank's affairs. This demand was refused. In an interview Mr. Tuttle said that had he reached the bank first, he would likewise have declined to vacate for Mr. Pepper or his representative. It was a question of which receiver would get there first, and the federal representative won out. Attorney Edward D. Robbins, who represented Mrs. Russell in the court proceedings, yesterday, said, today, in relation to the action of the comptroller of the currency that it was immaterial to him which receiver took control. He was of the opinion that whichever receiver got to the bank first would be recognized. He added that there was legal ground for action taken in the superior court, a stockholder having made application for a receiver.
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WINDHAM BANK AFFAIRS. The Receiver Finds the Cash Accounts Are Correct. Danielson, Conn., Dec. 24.-Ellis W. Pepper. the receiver, has examined the cash accounts of the Windham County National Bank, which was closed by an order of Judge Gager on Tuesday, and, it is understood, has found them to be correct. He is now scrutinizing the paper and collateral. The directors, in interviews to-day, expressed continued confidence that the receiver's report will show the affairs of the bank to be absolutely correct. Mr. Atwood. of the board, says that criticism of certain notes held by the bank, which. it has been alleged, will be used to provide funds for certain investments, is unreasonable, as any single indorser is able to replace all the notes with cash, and this will be done, he says, if the receiver should require it. The amount of these notes is said to be $23,100.
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FINANCIAL BATTLE IS NOW ON Danielson, Conn., the Scene of a Unique Financial Situation. The examination of the Windham County National bank, which is now in the hands of the receiver, has progressed in such a rapid manner that it is hoped before many days a final decision of its condition will be reached. Mr. Pepper, the receiver, and Bank Examiner E. A. Barrows have since taking charge learned considerable as to how, In many details, the management of the establishment was carried on, and if they decide that the bank is solvent, It will be opened again for the transaction of business. The financial war in Danielson has now resulted in an accusation by directors of the Windham County bank that the attack upon them was brought about by those who were behind a. new banking institution that is soon to begin business there, and it is now said, on the other hand, by one of the originators of the new bank, that instead of their being the aggressors in the financial war, they are really on the defensive, and that a. suit was brought against one of their number by the older institution, with the purpose of killing the new bank. The closing of the bank has been a decided inconvenience to the people of Danielson, especially coming as It did just before the holidays. a time when money used at the holiday season passes through such institutions in large amounts. A number of the business houses in Danielson have temporarily taken their accounts to Putnam, and are making their deposits for the present in the First National bank of that place. Others who are not intending to draw on their accounts immediately are making use of the safe deposit boxes in the Windham County bank. There does not appear to be any great amount of worrying done by those citizens of Danielson who are financially interested in the condition of the bank, and there is a prevalent idea that everything will come out all right. Charles P. Backus, the ex-cashier of the Windham County National bank and one of the men who have been interested in the formation of the new Puritan National bank of Danielson, is well known to the banking men of Providence. and is regarded as a bright young banker. In his associations with President Burlingame of the Windham County bank he has shown considerable skill as a manager. It caused surprise here when it was known that he had recently severed his connection with the older bank, and a short time ago was engaged in purchasing fixtures for the new bank in Boston and Worcester. In a recent interview Mr. Bachus is said to have denied that the new bank had instigated proceedings in court against the Windham County National bank, and went on to say that as far as he could make out all the trouble was brought about by Mrs. Russell. who has figured prominently in the matter.
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THE LATEST NEWS IN SHORT ORDER. Domestic. The Somerset Coal Company has evicted the families of the striking miners. All the collieries are now being worked as they were before the strike was inaugurated. A. J. Lockhart, a peace officer who impersonated Santa Claus at a Christmas I tree affair in Bessemer, Ala., killed John Parsons, who attacked him with a knife. The trial was begun in Grand RapI ids, Mich., of William F. McKnight and ex-Senator George E. Nicholson on charges of subornation of perjury. The plate mill of the Glasgow Iron Company, at Pottstown, Pa., was destroyed by fire. The mill was in full operation and employed about 100 men. Andrea Loscalzo, aged nine years, died at his home in Philadelphia, from acute indigestion, the result of overindulgence in Christmas sweetmeats. . Because his relatives in Germany apparently forgot to send him any Christmas presents, John Sweetz, a New York baker, committed suicide. By the will of Joseph Stickney, filed in New York, the sum of $100,000 is bequeathed to his niece, Ellen T. Stickney, of Baltimore Postmaster Van Cott, of New York, declares all the charges made against the management of his office malicious slanders. Judge Kirkpatrick, of the United States Circuit Court in Newark, N. J., authorized Receiver Tatnall to issue a call assessing the shareholders of the Asphalt Company of America in the sum of $14,000,000. Upon the petition of Mrs. Ella S. Russell, a receiver was appointed for the Windham County National Bank of Danielson, Ct. Mrs. Russell charged that the officers speculated with bank funds. The twin brother of Miss Elizabeth Gillespie, of Rising Sun, Ind., and other members of the family. were arrested for her murder. Writs of habeas corpus were secured in their be. half. Counsel for the Ship Trust promoters were indignant at the publication of letters and cablegrams which showcd how the promoters had tried to drive the French underwriters. The five officers and instructors of a school in Chicago which taught students how to manufacture and imitate all kinds of liquors were arrested on the charge of operating a distillery. Rear Admiral Walker arrived at New York from Panama, and says the marines on the isthmus will be able to deal with any situation that may arise. Joseph Baumenblitt, one of the coun. terfeiters who turned State's evidence, testified in New York against the other members of the gang. Albert Driscoll and J. E. Russell, suspected of being safe-blowers, were sentenced to the county chain gang in Mobile, Ala. The cruiser New York will shortly sail for Panama from San Francisco with the torpedo-boat destroyers Preble and Paul Jones. ing President McKinley's grave, has disappeared, Charles D. Fenstemacher, accused in Philadelphia of using the mails to defraud, committed suicide in his cell.
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DANIELSON BANK. Officials Named in Receivership Asked to Appear in Court. Danielson, Conn., Jan, 7.- Ellis S. Pepper, receiver of the Windham County National Bank and Judge Oldham, of the United States comptroller's office, in Washington, arrived here to-day to conclude the investigation of the bank's affairs. The visit of Judge Oldham who represents the comptroller is made as a result of the report of the bank's affairs presented in Washington by Receiver Pepper. The two Federal officials passed the entire morning in the bank, most of the time being in conference with officers of the institution. Some surprise was occasioned here to-day by the publication of an order signed by Jurge Jager of the superior court directing the bank officials named in the receivership proceedings brought by Mrs. Charles A. Russell, widow of the late Congressman Russell, to appear in court in Hartford on January 14. That date was named in the order appointing Joseph P. Tuttle, of Hartford, temporary receiver as the time for a hearing on the appointment of a permanent receiver, but in view of the fact that Receiver Tuttle relinquished his part in the proceedings after finding a federal receiver in charge of the bank, it was supposed here that no hearing on the permanent receivership would be held. The order which was published in a local paper to-day in legal phraseology directs C. S. Burlingame, John A. Payne, James Perkins, A. D. Putnam and C. P. Baxter, officers of the bank to appear and show cause why a permanent receiver for the bank should not be appointed. It is believed that the hearing will be merely a formal one.
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Bank Authorized to Resume. The Windham County National Bank of Danielsonville, Danielson, Conn., which closed its doors on December 22, by direction of the state court, and for which a temporary receiver was appointed, today was authorized by the controller of the currency to resume-business. This action is taken upon the report of Ellis Pepper, receiver, appointed by the controller, who finds that the bank is entirely solvent and its capital unimpaired.
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Notes of Trade, Labor and Industry an involuntary bankrupt. The concern is a "he plant of the Pennsylvania Car Wheel large manufacturing establishment in the mpany, Allegheny, will resume in full city of Dayton. The company was adjudged giving employment to 700 men. an involuntary bankrupt. Harry E. Talbott E. Corey, president of the United and William B. Ernshaw, of Dayton, were Steel Corporation, sailed for Europe appointed temporary co-receivers to take the steamship La Savoie yesterday, for care of the property until the creditors can months' recreation. elect a trustee. The firm of E. S. Hooley & Co., which susThe National Association of Brokers in during the depression in the stock Refined Sugars, which includes 24brokerage some months ago, has been reinconcerns doing business in the leading cities to membership in the New York of the United States, has held its first anExchange. nual meeting in New York. R. H. Lamconsolidation of all the wholesale groborne, of New York, was elected president. houses of central West Virginia was Among the directors chosen were H. E. at Clarksburg yesterday. New Havemeyer, Chicago; Harry Loy, Dayton, capitalists are back of the deal, which O., and Ariel Meinrath, Chicago. Retiring olves over $2,000,000. President Minford reported excellent progotification of a cut in wages ranging ress during the first year of the organization's existence. 25 to 40 per cent. has been given to the steel workers of the Illinois Steel The foreclosure proceedings of the New mpany's plant at South Chicago. Only York Security and Trust Company and men are involved, but their wages for Charles M. Schwab against the United eight-hour day range from $8 to $15. States Shipbuilding Company and Receiver Smith were adjourned yesterday until Jan. he Eastern Shipbuilding Company of London, Conn., yesterday announced 20, the adjournment being taken in complithe launching of the steamship Dakota ance with the stipulation entered into by all interests in the shipbuilding litigation that the Great Northern Railway's Pacific trade will take place Saturday, all suits should be held in abeyance pending 6. The Dakota is a sister ship to the the decision of Judge Kirkpatrick, of the Federal Court of New Jersey, on the monnesota, which was launched last spring. tions for the consolidation of all the acthe striking girl stogie rollers from Wiltions pending before him. Bros'. factory at Meyersdale, Pa., led demonstration at Elk Lick mine, one of Judge Gager, in the Superior Court at Somerset Coal Company, which resultHartford, Conn., yesterday, ordered the in the six men working there going on discharge of State Receiver Tuttle, of the Windham County National Bank at DanielThe girls belong to the Federation son. Counsel for Mrs. Ella Russell, widow Labor. They had a band and were acof ex-Congressman Russell, who petitioned npanied by several hundred miners, women and children. for the receivership, stated to the court that the old board of receivers had been the annual convention of the United deposed, the bank's capital had been reWorkers of the Pittsburg district, stored and $17,000 worth of paper, which has been in session at Pittsburg for had been put up for speculative purposes, days, the delegates to the national had been taken up by the makers. The avention, which meets in Indianapolis bank, it is announced, will reopen to-day. Monday, were instructed to demand 'At the convention of the International advance in the pick mining rate of ten a ton. This will increase the rate to Union of Hodcarriers and Building Laborers at Trenton, N. J., yesterday, Samuel and will equalize the pick and machine Gompers, president of the American Fedprices. eration of Labor, made an address. He Ianufacturers of rail-rolling plants from spoke of the industrial depression and, York, Pennsylvania, Ohio, West Virwhile he held out hopeful views for the Maryland and Georgia met in Pitts situation, he advised that all union men yesterday to discuss means for should prepare themselves for a depression engthening prices and securing a better by the exercise of frugality. He also adcondition. The manufacturers are vised that the national and State per capita outside of the United States Steel tax of the American Federation of Labor rporation. It is said the organization of be increased because of the great expense for the maintenance of prices may be involved in the spreading of unionism. The outcome of the meeting. convention defeated the proposition for the Manufacturers of steel bars in session at establishment of the international mortuary ttsburg reaffirmed prices. The manufacfund. It was decided that the national are said to be well pleased over the headquarters of the federation be mainprovement which the industry has shown tained in Chicago. the last ten days. At the meeting The United Mine Workers of District No. developed that new orders placed last 6, in session at Columbus, O,, unanimously with the largest steel producers were adopted a resolution favoring the study of than during any similar period economic and political questions, in order last July and this week thus far is to prepare to take possession of the juowing a decided improvement over the diciary, legislative and executive powers of week. government, in order to take away the 'he Pennsylvania coke trade seems to powers of the employers to use governstarted upward with a rush after its mental powers to advance their own ends. period of depression. During the week A resolution was adopted declaring that additional ovens have been fired, and engineers must belong to the miners' union. production increased 20,000 tons. EstiThe strike of the Chicago livery drivers on production show December to began anew yesterday. After a truce of fifthe lightest output of any month of teen days following the Iroquois fire, the past year, the total being 427,928 tons. 1,600 drivers of carriages and hearses were production for 1903 was over a million ordered out again. However, to avoid the a half tons less than for 1902, and nearly distressing interference with the burial of less than for 1901. the dead witnessed at the beginning of the strike, a modification of the strike order petition was filed by three creditors in United States District Court at Cincinwas made, and before the day was over yesterday to declare the Stillwell, hearses manned by union drivers were at & Smith-Valle Company, of Dayton, the disposal of every liveryman in the city.
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CONNECTICUT BANK TO RESUME BUSINESS The Windham County National Bank, of Danielson, Conn., which was closed on December 22, was today authorized by the Comptroller of the Currency to resume business upon the report of Ellis S. Pepper, the receiver appointed by the Comptroller, that the bank is en tirely solvent and its capital unimpaired. A new board of directors has been elected and the suit brought by Mrs. Ella Russell. in the State court, has been dise essed.
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BANK RESUMES Windham County National Bank Reopened Its Doors Today - Capital Unimpaired. Danielson, Conn., Jan. 15.-The Windham County National Bank, resumed business today after having been closed for several weeks on account of receivership proceedings which were terminated yesterday in the Superior court at Hartford. The new directors have issued a statement saying that all the bank's books have been carefully examined and that after charging off all worthless paper and scaling in value all doubtful paper, it has been ascertained not only that the capital of $50,000 is unimpaired, but that there is 8. surplus of $3,000.
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IN BETTER CONDITION. One Failed Bank Resumes and Another Pays a Dividend. Danielson. Conn., Jan. 15.-The Windham County National Bank resumed business, today, after having been closed for several weeks on account of receivership proceedings which were terminated, yesterday, in the superior court at Hartford. The new directors have issued a statement saying that all the bank's books have been carefully examined and after the clearing off all worthless paper and sealing in value all doubtful paper, ft has been ascertained not only that the capital