7e8c1fccFull suspension, Books examined
Other: Later creditor suit to compel incorporators to pay stock; indictments for perjury of officers/subscribers.
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A Shaky Bank. VIRGINIA, Nev., December 7.--The Bank of Gold Hill has suspended until an examination of its affairs can be made. There has been a heavy run on the bank by holders of certificates of deposit and by those having stock transactions with it Liabilities not ascertained.
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A DOWNWARD PLUNGE. All the Fayorite Mining Stocks go to Pieces at San Francisco. SAN FRANCISCO, Dec. 7.-All the favorite mining stocks took a fearful downward plunge this morning. Consolidated Virginia, which sold yesterday at $65, opened this morning at $42 50, and quickly after went to $86. Ophir followed suit. Sales on this stock were made yesday at $40, but it opened to-day at $29, closing at $27 25. Best & Belcher opened at $62, a loss of $5, and without any attempt at recovery closed on the first board at $19 25. Savage did no better. It opened at $18, a loss of $6, and finally closed at $11 75. The break in Sierra Nevada was not 80 bad, being strongly beld at $13.50 and closing at $14 25. Gould and Curay sold at $15.50 vesterday, but opened this morning at $13, closing at $12. The break has created widespread consternation. The only assumption is that the holders having corralled all the "shorts" are now letting the stock go. If this should prove correct heavy further declines may be expected. No failures are reported this morning. There was a sharp recovery in prices at the atternoon session. Consolidated California and Virginia under moderate sales went to $53,but finally closed at $52. Best & Belcher was also better at $23. Chollar improved and Hale & Norcross closed firm at $950, but under heavy sales weakened to $9. Ophir and Gould & Curry were exceptions, the former closing at $22 and the latter at $10. The closing prices of the others were: Crown Point $10, Mexican $13 25, Potosi $15 25, Savage $21, Sierra Nevada $16, Union Consolidated $9, Utah $17 and Yellow Jacket $9 75. A BANK FAILS. VIRGINIA CITY, NEV., Dec. 7.-The Bank of Gold Hill has suspended until an examination of its affairs can be made. There has been a heavy run on the bank by holders of certificates of deposit and by those having stock transactions with it. The bank's liabilities have not been ascertained. OIL'S TUMBLE. PITTSBURG, Dec. 7.-A sudden and heavy decline in oil to-day caused a panic at the exchange and the dumping of a large lot of certificates on the market. The session opened with a weak feeling, bearish field news having a depressing influence. The first sale was made at 80 and a gradual decline to 771/8 followed. Prices then remained without material change until shortly before noon, when the bears made a terrific onslaught on the market and values dropped in a very few minutes to 71½, 81/2c. below the opening. A scene of the wildest excitement ensued. The holders of long oil did everything in their power to stem the current. but without avail, and becoming panic stricken, commenced unloading. At 71½ the decline was checked, and, with a strong effort, the market rallied to 73½ at 1 o'clock. Only one small failure occurred. The money difference is not known. The bottom also dropped out in New York and oil fell to 72. rallied and closed at 74, after opening at 80.
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VIRGINIA CITY, NEV., Dec. 7.-The Bank of Gold Hill has suspended until an examination of its affairs can be made. There has been a heavy run on the bank by holders of certificates of deposit and by those having stock transactions with it. The bank's liabilities have not been ascertained.
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Salt Lake Democrat. WEDNESDAY, DECEMBER 8, 1886 TELEGRAPHIC BREVITIES. Prince Alexander arrived in London Tuesday. The French Chamber of Deputies Tuesday voted in favor of disposing of the Crown diamonds. A Pittsburg dispatch says: James G. Blaine, Jr., began work on the Pittsburg Times as a reporter Tuesday evening. A San Francisco dispatch says: Kulman & Co., stock brokers, who suspended last week, resumed business Tuesday. A San Francisco dispatch says: It was learned late last night that R. C. Tobin, a stock broker at 314 Montgomery street, made an assignment late yesterday afternoon to T.J. L. Smiley. The liabilities are stated to be $25,000. A Virginia City, Nevada, dispatch says: The Bank of Gold Hill has suspended until an examination of its affairs can be made. There has been a heavy run on the bank by holders of certificates of deposit and by those having stock transactions. The liabilities are not ascertained. A Richmond, Va., dispatch says: Governor Lee has decided not to interfere with the judgment of the Court in the case of Cluverius, either by commutation or pardon. The execution will take place Friday, unless an application for a respite is made, which will be considered by the Governor. A London dispatch says: Dispatches from Adelaide state that large findings of gold have been made in the South Australian diggings in the region of Teelulpa. Five thousand men have already congregated in that locality. The largest nugget yet found is said to weigh thirty ounces. A London, Ontario, dispatch says: Dr. Weir, or Oscoda, Michigan, was again before the court Tuesday, formally charged with the murder of Mabel Clark. After William Featherly, of Oscoda, and other witnesses had given their evidence, Weir's solicitor asked for time to enable him to obtain certain evidence necessary for the defense. The judge acceded to the request, and remanded Weir for eight days. A Corruna, Mich., dispatch says: At Henderson Tuesday morning Fred. Josyln, a school teacher, shot and killed Thomas Morrison. The teacher had punished young Morrison, as his father thought, too severely and Morrison visited the school to investigate. He entered the school room, and walking up to Josyln, told him he was about to give him the same treatment, whereupon Josyln drew his revolver and shot Morrison dead. The estate of the late Samuel J. Tilden, it is claimed under the laws of 1885, regarding taxes upon estates, is subject to a tax of five per cent. on all bequests to relatives beyond the second generation; that is, beyond nephews and nieces. Inasmuch as the bulk of the estate is bequeathed to persons outside this limit and for public benefit, the Treasurer of Westchester county, whose duty it is to collect those taxes, has begun an investigation, and if he finds that a tax is due, he COMO to col.
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MISCELLANEOUS. The Chinese Government has refused to grant permission to the American Methodist Episcopal Mission for its steam lanch to ascend interior rivers on missionary work.-Coal in immense quantities has been discovered in Hénderson and Smith Counties, Tex. In the former County one vein is 20 feet in diameter, and only 30 feet below the surface.-Enterprise, Miss., on the Mobile & Ohio and New Orleans & Northeastern Railroad, is in a state of intense excitement over the discovery of iron. It is thought to exist in large quantities in that vicinity.-] failure of Frankel & Co., the California stockholders, has caused wide-spread ruin. It is said that the absconders took away with them $250,000 in gold. A Beam of anthracite coal seven feet six inches in diameter has been struck at Bauff, N. W.T. This seam is only one out of six in that locality, the smallest being three feet in thickness. The six seams contain enough coal to supply the entire Northwest Territory for the next 50 years.-The six days' bicycle race for the championship of the United States closed at Omaha, Neb., Saturday night, and was won by John S. Prince, who made 767 miles and 9 laps, beating the championship record made in Minneapolis last month by 27 miles. Frank Dingley, of Minneapolis, covered 765 miles; Albert Schock, of Chicago, 756 miles; Tom Hardwick, of Kansas, 746, and E. N. Ballock, of Omaha, 672.-The name of the American Opera Company has been changed to that of the National Opera Company.- Dom Pedro," the 13-yearold intractable elephant at the Zoo," Philadelphia, died on Friday night. The body was dissected at the University by Dr. R. S. Huidekoper.-Fully 100 foreigners were in Pittsburg last week on their return from the West to their former homes in Europe. The majority of them were Germans, though & few of them were Irishmen.-Pleuro-pneumonia has appeared among imported Jersey cattle near Dallas, Tex. Some animals are dying and others are being killed. There is great excitement among stockmen.Dispatches from Adelaide state that large findings of gold have been made in the South Australian diggings in the region of Teetulpa, and that 5,000 men are already congregated in that one locality. The largest nugget yet found is said to have weighed 30 ounces.-At Virginia City, Nev., the Bank of Gold Hill has suspended until an examination of its affairs can be made. There has been a heavy run on the bank by holders of certificates of deposit and by those having stock transactions with it.-The temperature at San Diego, Cal., during the month of November averaged 68 degrees. There were 28 perfectly clear days.-Judge Sage, at Columbus, O., ordered the Bell telephone case dimissed without prejudice and without record as far as its status in the Ohio District is concerned.-The United States steamer Dolphin had a six hours' trial trip at sea. The trail was very satisfactory. She developed & speed of 14
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CREDITORS' CLAIMS. Bank Incorporators Asked to Pay Up Their Stock in Full. VIRGINIA, Nev., September 13.The suit of O. F. Ross et al. VS. the Bank of Gold Hill is on trial in the District Court. The action is brought by creditors, to compel C. C. Stevenson, Richard Mercer, W. H. Blanvelt, D.O. Mills, I. L. Requa and Robert Morrow, incorporators and subscribers to the capital stock of the suspended bank, to pay up the full amount which each subscribed thereto. The sum realized is to be used in judgment of the creditors' claims against the suspended bank. The total sum sued for by the creditors is about $100,000.
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THE BANK OF GOLD BILL. / Two of its Officers Indicted for Perjary. VIRGINIA, Nev., Oct. 7.-The Grand Jury found jodictments for perjury yes. terday against W. H. Blauvelt and F. Mercer, both of whom were subscribers to the capital stock of the suspended Bank of Gold Hill. The charge ou which they were indicted is based on their tes. timony in the suit of Ross and others V8. the Bank of Gold Hill, recently decided in favor of the plaintiffs in the District Court.