Payne & Company (Warrenton, VA)

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Bank Suspension at Warrenton, Va. THE SUDDEN DEATH OF MR. PAYNE FORCES HIS FIRM TO MAKE AN ASSIGNMENT. BALTIMORE. MD., January 13.-A special from Warrenton, Va, says: The sudden death of C.R F. Payne, active partner of the firm of Payne & Co., bankersin Warrenton, made it necessary that an assignment of their assets should be made, and an announcement to this effect was made to-day. The surviving partner has made full assignment of all assets to Albert Fletcher, A. D. Payne and R. Taylor Scott, who have taken charge thereof and assumed the trust. No preferences have been made, and the pro rata to depositors and other creditors will be made with as much dispatch as is possible,

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CONDITION OF BUSINESS

BANK SUSPENSION CAUSED BY-DEA PII. BALTIMORE, Jan. 13.-A dispatch from Warrenton, Va., says: The sudden death of C. E. F. Payne, the active partner of the firm of Payne & Co., bankerf. In Warrenton, made it necessary that an assignment of their assets should be made, and an announcement to this effect was made to-day. The surviving partner has made a full assignment to Albert Fletcher, T. 8. Payne, and R. Taylor Scott.

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Doctor Mary Walker is writing a spectacular play. The costume of the ballet is expected to be unique. If Mr. Cleveland wants to know exactly wherethe Democratic party stands in the matter of Civil Service reform, let him appoint Senator Pendleton to a place in his cabinet. Mrs. Henry Ward Beecher says the report that her husband will succeed James Russell Lowell is ridiculous. That is so, but what would it be if the report were true! It was one of Butler's claims for Presidential support that hismoney was ready. The logical sequence now appears in a mortgage on his Washington house for 'ready money.' Thurman, Hoadly and Pendleton are making faces at each other. In the meantime, Cleveland fixes up his Cabinet and entirely overlooks the three good boys. The people ought never to forget that if they want their children and their neighbors' children educated they will be obliged to vote against every Bourbon who runs for an office. The number of failures in the United States and Canada for the past week is 420, a decrease of 37 as compared with the preceding week. This would seem to indi cate that the period of business depression is nearly at an end. A telegram from Lynchburg says that a very heavy wind-storm prevailed there throughout last Friday night, interfering with telegraphic communication and doing much damage to barns and other property in the surrounding country. A large frame church in Rock bridge county was blown from its foundation and wrecked. Let them take notice now that the badly-salaried public school teacher of the State is not being promptly paid, even after one year of partial control by the school hating element. Four years of Bourbon intermeddling with our school system will kill it as dead as a mackerel. The annual report of the Department of Agriculture, now in press, makes the record of corn production for the year 1884, 1,795,000,000 busbel; that of wheat, nearly 513,000,000, and of oats, 583,000, 000. These aggregates are the largest ever recorded, and are the figures for permanent record. o P.T. Barnum, the great show. man, has offered General Grant one hundred thousand dollars cash and a share of the gate money for f the of exhibiting the General's vast collection of trophies. General Grant should accept the offer. It would be % good thing for him as well as-Barnum. a A tremendous rumpus has been a stirred up among the managers of the New Orleans exposition. They need $250,000 cash at once. Some ofthe workmen who have waited for weeks for their money have e threatened to burn the buildings e unless they are paid. Director General Burke has asked for twen t 1 ty-four hours more time to raise the money, and unless it is forth = coming trouble will ensue. Evi0 dently a crisis is at hand. The democrats of the Indiana legislature are proposing to gerrymander the state so that the repube licans can only elect three mem li bers ofcongress in the future. Maa jor Steele has persisted in getting fo himself elected in a very close disu triet for the last three elections, o but it is proposed to everlastingly F bury him in the new apportion 0 ment. Gerrymanders do not alin ways gerrymander though, as both en parties have more than once bad the demonstratedtothem in Indiana. in The great iron firms of Oliver S Bros. & Philips and Oliver & ca Roberts, of Pittsburg, have sus g pended. The liabilities are from ei $3,000,000 to $5,000,000. It is 18 thought the assets will be large fi enough to meet this. Their may la roll was $250,000 a month, and dull W times and low prices compelled the at suspension. This is a strong arguao ment against the action of laborers st in striking. If this strong firm st could not stand up before present wages, what must be the condition of smaller ones! lin of Dr. Payne, of the banking firm W of Payne & Co., died suddenly at ut Warrenton, Va., recently. It was W found, after his death, that the a bank, of which he was the praere tical manager, was in a bankrupt ha condition and consequently its D doors were closed. Judge Jas. no Keith was the other member of the in firm of Payne & Co., but the manco agement of the business was left to with Mr. Payne. On learning the

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VIRGINIA NEWS.

A Pennsylvania company has just begun to work a gold mine in Charlotte county. It is said that the yield of ore is very satisfactory.

James Grubbs, a well-known and popular citizen of Warren county, died suddenly of heart disease last Monday morning in his 66th year.

Louis Herring, a prominent crockery and tinware dealer and manufacturer of Petersburg, died suddenly yesterday morning of heart disease.

The road commissioners of Dranesville district, Fairfax county, have condemned the bridge over Difficult run, on the Alexandria turnpike.

The Winchester and Potomac Railroad Company announces a dividend of 3 per cent. for the past six months, payable on demand at the Company's office in Winchester.

By request of the vestry of St. Paul's Church, Richmond, Rev. Dr. Minnegerode has withdrawn his resignation as rector of that church. The withdrawal has caused much joy among the congregation.

The charity ball, which took place at Richmond last night, was an interesting event in society. Among the managers were Mrs. Gov. Lee, Mrs. T. M. Logan and Mrs. Charles E. Stuart, of Alexandria. Gov. Lee delivered the coronation address.

Mr. J. P. Cooper, of Isle of Wight, England, who has for several months been associated with Mr. W. L. Royall in representing the English holders of Virginia bonds, will sail next Wednesday on the steamer Eider. Mr. Cooper expects to return in March.

Mr. G. E. Walraven, of Baltimore, and Miss Jessie Caldwell, daughter of Postmaster L. W. Caldwell, of Warrenton, and sister of Mr. F. H. Caldwell, editor of the True Index, were married yesterday, Rev. Walter Robinson officiating. The bride received many handsome token.

At a late hour Wednesday night a collision occurred on the Richmond and Petersburg division of the Atlantic Coast Line, near Swift Creek, between a passenger train and a freight train. Both locomotives were disabled, the track blockaded and all trains delayed. No one was injured. The accident was caused by a misplaced switch.

Judge Wm. McLaughlin, of the thirteenth judicial circuit, is holding a special term of the Circuit Court of Fauquier county to try the cases growing out of the suspension of Payne & Co., late bankers at Warrenton. Several of the most important of the cases have been compromised, and it is probable most of the others will be settled in the same way. A number of nice questions as to the liability of drawers, indorsers and depositors are involved in these cases.

The city council and mayor of Winchester, in responding to the resolutions passed by the Vermont Legislature thanking the citizens of Winchester for aiding in the dedication of monuments to their fallen soldiers on the battlefields of Cedar Creek and Opequon, say: "The citizens of Winchester appreciate highly your words of confidence and good will, and they reiterate the fact that the monuments which the citizens of Vermont have erected on the fields of civil strife at Opequon and Cedar Creek to the memory of their dead shall be as faithfully preserved and as scrupulously protected as if they stood upon the battlefields of Vermont, where Starke's courage illuminated the patriotic hearts of Virginians and New Englanders alike in the times that tried men's souls, and when Washington and Patman stood shoulder to shoulder in their common defense of the freedom of the colonies."