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Medalis, Mo, Bank Closed. Sedalia, Mo., May 4.-The First National bank failed to open today. The bank had a capital of $250,000 and was supposed to have a reserve of $25,000. The suspension is attributed to the 1088 of business brought about by the publication in a St. Louis paper several months ago of a telegram say. ing the bank had isiled. Other banks became suspicious. It is the general belief the depositors will be paid in full.
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SEDALIA BANK SUSPENDS. The First National's Credit Impaired by a False Report. Sedalia, Mo., May 4.-The First National Bank of this city, one of the oldest financial institutions in Central Missouri, failed to open its doors for business today. A notice, signed by the officers and directors, was posted on the door, notifying depositors of the suspension. The bank has a capital of $250,000, and was supposed to have a reserve fund of $25,000. The cause of the suspension is attributed to a loss of business brought about by the publication, several months ago. of a false telegram from this city stating that the bank had failed. Other banks became suspicious, and the standing of the First National Bank became impaired. The notice of the suspension has caused much excitement throughout the city. It is the general belief that all the depositors will be paid in full.
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All Caused by a Fake Telegram. SEDALIA, Mo., May 4.-The First National Bank of this city, one of the oldest financial institutions in Central Missouri, failed to open its doors for business to-day. A note signed by officers and directors was posted on the door notifying depositors of the suspension. It was brief and as follows: "We deem it best to close. As affairs now present themselves to us, we are forced to this issue and will notify the Comptroller of the Treasury of our action." The bank has a capital of $250,000, and was supposed to have a reserve fund of $25,000. The cause of the suspension is attributed to a loss of business brought about by the publication in a St. Louis paper several months ago of a "fake" telegram from this city stating that the bank had failed. Other banks became suspicious and the standing of the First National Bank because impaired.
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BANK SUSPENDS PAYMENT. The First National of Sedalia, Mo., Falls to Open Its Doors. SEDALIA, May 5.-The First National bank of this city, one of the oldest financial institutions in central Missouri, failed to open its doors for business. A notice signed by the officers and directors was posted on the door notifying depositors of the suspension. It was brief and as follows: T "We deem it best to close; as affairs now present themselves to us we are forced to this issue and will notify the comptroller of the treasury of our action." The bank has a capital of $250,000 and was supposed to have a reserve fund of $25,000. The cause of the suspension is attributed to a loss of business brought about by the publication in a St. Louis par per several months ago of a "fake" telegram from this city stating that the bank had failed. Other banks became suspicious and the standing of the First National bank became impaired. The notice of the suspension has caused much excitement throughout the city. It is the general belief that all depositors will be paid in full. The failure of this bank has not nffected the remaining five banks and none of them will be annoyed by a run on the part of their depositors.
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A BANK SUSPENDS. It Was One of the Oldest Financial Institutions in Central Missouri. SEDALIA, Mo., May 4.-The First National bank of this city, one of the oldest financial institutions in central Missouri, has suspended payment. The bank has a cap. ital of $250,000, and was supposed to have a reserved fund of $25,000. The suspension is attributed to the loss of business brought about by the publication several months ago of a false telegram stating that the bank had failed. The notice of the suspension has caused much excitement throughout the city. It is the general belief that all depositors will be paid in full.
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SEDALIA BANK SUSPENDS. Sedalia, Mo., May 4.-The First National bank failed to open today. The bank has a capital of $250,000 and was supposed to have a reserve of $25,000. The suspension is attributed to the loss of business brought about by the publication in a St. Louis paper several months ago of a telegram saying the bank had failed. Other banks became suspicious. It is the general belief the depositors will be paid in full.
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PITHY NEWS ITEMS The North Carolina grand Raleigh. council of the Royal Arcanum met at Mills The Goldsboro, N. C., Cotton May. will resume operation during A pants company has been established at Elkin, N. C. 5,000 spindle cotton factory N. C. has been A proposed in Laurinburg, The preachers in Lexington, Ky., Col. have united in the fight against Breckinridge's re-nomination. Cleveland, Ohio, had a small riot last week, which was quelled by the police. banking firm of Hinton & Dunn, business. Petersburg, The Va., is to retire from ink factory and a barrel Waynes- factory are An to be new enterprises at ville, N. C. Atlanta architect has completed S. C., An drawings for the Newberry, cost is the proposed water works, and the estimated at $30,000. sturgeon which was 81 feet caught long A weighed 300 pounde, was river Kinston, N.C. Tuesday and morning in Neuse near Advertisement will probably soon for be a for plans and drawings made courthouse for Mecklenburg seat. county, $50,000 N. C., at Charlotte, the county The First National Bank of Sedalia. has fuiled. Capital $250,000. in full. Depositors Mo., will probably be paid company has been organized Fla., by A Pritchard at -Titusville, for for Captain the purpose of erecting fibre. factory manufacturing palmetto The Pine Lumber Co., at Newberne, saw has lately finished its new about mill, N. C., and commenced operations two weeks ago. Comptroller General Ellerbe C., issued to circular from Columbia, S. not I treasurers ordering them them for county receive money tendered state to licenses to sell liquors. Wednesday was the hottest May day known in New York. The merever registered 83 and there was no till night. cury abatement of the heat from morning the South is by no means free in such cases from While blame in yet movethe Coxey my of it pr oves the real soundness in by its failure to take its mox nts of any ment people socialittic and trampe. part office M. Braxton's bank C. which is nearly completed, of the building, Newport News, Va., is finished one in at in the South. It is hardwoods finest and has the latest improvements. Tuesday night George Gay Mrs. the Clara St. went boating on The Sherwood river at Jacksonville. washJames day their dead bodies were ed ashore. next They were lovers. Thursday Mr. Albert Johnson, of N. C. the oldest living locomotive Raleigh, engineer in this country, He is his 81st birthday. Air Line. celebrated yet in the employ of the Seaboard Application is to be made on May 22 of Abingdon, Va., for the removal at C. Haskell and D. H. Conklin, Ohio John of the South Atlantic & by receivers Co. The action is made himself Railroad MeGeorge, Jr., for road and William others, and alleges that the is not being managed properly. The hosiery mill in the State which peniat Columbia, S. C., will tentiary destroyed by fire last week, was continued in A new building already has be J. M. Graham, who secured. of the plant, has ordered con- buy charge siderable new machinery, and will more later on. Col. Carter M. Braxton, of Newport News. Va., states that representatives comNorthern car-manufacturing of R have been in that place recently the pany investigating its advantages for location of R ear-building plant have to A about thirty aeres and to cover capital of about $1,000,000. While in Raleigh, N.C., Mr. Nich Co., Treas. of the Dwight Mfg. have matter Chicopee, ols, MARR is report to ecessity for some said moved from that of it the is n Massachusetts large pri to mills heSouth. to be the Wynne, See'y and Treas. nd- of J.S. Raleigh (N. C.) Cotton Mills vocated the building of another install- cotton there, to be erected on the took and mill plan. The suggestion has been ment $100,000 local company It to carry it into execution. Melrose has already formed been named the Cotton Mills new cotton mill to be built The two miles from Welford, requisite at Tuscapan, 10,000 spindles and the factory S. C., will be, at first. all the 30, looms contain, but as time rolls that OD conwill will be the capacity of enter000 The directors of that new folcern. have been decided upon Pres. AS prise Dr. C. E. Flemming, S. C.; of lows: Whitney Mfg. Co., Whitney, Clifton the D. E. Converse, Pres. of the MontMfg. Co., Clifton, S. C.:J. H. and PaPres. of the Spartan Cleveland, colet gomery, Mills, S. C., and J. B.
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THE LATEST NEWS. Sparks from the Wires--Most Important Events Throughout the World for a Week. Bud Kaxon, a notorious moonshiner in Pickett county, Tenn., was killed by his two sons. The health officers of the District of Columbia have condemned the Coxey camp, and it will be ordered vacated. The Ashland Iron Company of Balti more county, has applied for a receiver to wind up its affairs. The company is capitalized at $300,000. NASHVILLE, Tenn., May 9.-S. Hen lin & Co., wholesale and retail dealers in tobacco and cigars, assigned this morning to Chas. Frankland. ST. JOSEPH, Mo., May 9.-Schuster & Co., wholesale clothiers of this city, assigned this morning. Their liabili ties amount to half a million dollars. UNIONTOWN, Pa., May 9.-Four workmen of the Coke plant here were beaten by strikers. One of the men is injured fatally. The deputies fired twenty-five shots but hit nobody. The strikers, however, quickly dispersed. NEW YORK, May 9.-An immense fire is raging here at the Clyde steamship docks. It started with an explosion of naptha. Shipping is imperiled. The adjoining ferry houses have already been burned. The loss will be large. Great excitement is caused by the fire. VIENNA, May 9 -The miners' strike at Olmutz, Moravia, is spreading rap idly. There are over 3,000 men out, and the number is being added to hour ly. The strikers have assumed a menacing attitude, and rioting is im inent. Two battalions of soldiers are stationed at Olmutz in readiness to quell any disorder that may arise. Sedalia, Mo., May 8.-It is reported here that J. C. Thompson, Cashier of the ruined First National Bank of this city, is an absconder and a forger to a large amount, and that a warrant has been issued for his arrest Mr. Thompson left here last Friday for St. Louis. At the latter city, it is reported, he bought a ticket for Washington, since which time nothing has been heard of him.
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MISSOURI STATE NEWS. The First National of Sedalla. SEDALIA. May 8.-W. A. Latimer, na tional bank examiner, has charge o: the First national bank, which sus pended May 4. It is said that he found less than $1,000 in cash Mr. Latime has been busy day and night investi gating the bank's condition, but when seen last night and interrogated about the rumor that Cashier J. C. Thomp son was a fugitive, he would neither affirm nor deny the report. He admit ted, however, that he had wired con siderable important information to Comptroller Eckles regarding the bank's condition, and also consid erable regarding Mr. Thompson personally, but beyond that he would say nothing. It is known tha Mr. Thompson has lost heavily in the past three or four years in real estate deals in Kansas City and California and the belief is fast gaining ground that depositors will realize very little out of the bank's assets. Mr. Thomp son has for years been one of the lead ing citizens of Sedalia, a pillar in the Episcopal church and there was never a public enterprise that he did not con tribute to it both his time and means His residence property has been adver tised at sheriff's sale to satisfy a judg ment in favor of the First national bank of Jefferson City; and this, it is be lieved. is but the beginning of much litigation. A few years ago the First national did the largest banking busi ness in the city, but when the rumor came a year ago that it was in a shaky condition many of its theaviest depositors changed to other banks, but up to the very last it had a goodly num ber who stood by it and were positive that the stringency of the times was the sole cause of the trouble. A RECEIVER APPOINTED. SEDALIA, May 11.-Bank Examine: Latimer has been appointed receiver the First national, having resigned temporarily as examiner. It is be lieved that Cashier Thompson has flec to Mexico. and the statement is made that he commenced crooked work in the bank two years ago. Thompsor has many friends, who express sym pathy for him, and they would have raised thousands of dollars to have prevented the crash. TURNS OVER EVERY DOLLAR. SEDALIA, May 11.-Cyrus Newkirk president of the suspended bank, has given a bill of sale on every dollar's worth of property owned by him, here and elsewhere, in behalf of the bank's depositors. HOT AFTER THOMPSON. SEDALIA, May 12.-Reliable information coming from a government official has been received from Washington to the effect that the treasury department is taking extraordinary measures to secure the arrest of Cashier Thompson. It is stated that the total of the misappropriation by Thompson can not be estimated with any accuracy; in fact a guess might easily be $100,000 away from the actual figures. LOOKS LIKE A CLEAN SWEEP. As the examination continues the condition of affairs grows worse. The investigation thus far, while far from being complete, warrants the statement that the bank examiner will be compeled at an early date to order an assessment of 100 per cent. on the cap ital stock. That means a levy of $250, 000, a sum which, as large as it is, may not be sufficient to repay depositors dollar for dollar. Republican State Convention. The Republican state central committee met at Excelsior Springs and decided to call the state convention for August 15, at Excelsior Springs. The basis of representation was one delegate for each 250 votes cast for Maj. Warner in 1892, and one for every fraction of 125. It is estimated that this ratio will give the state convention about 1,200 delegates. The date and mode of electing the delegates to the state convention was left discretionary with the county committees, provided that all delegates must be elected not later than August 11. A Coal Famine Imminent. It was stated on the 9th that the question of coal supply for St. Louis had reached a critical stage, caused by the miners' strike. There was estimated to be about a ten-days' supply on hand, and after that is exhausted, and the miners were still idle, many of the large industries would be compeled to shut down. The street railway companies had about a week's supply, the water-works about enough to run for two weeks, and the price of coal had jumped from 7 cents to 15 cents per bushel, with little to be had at those figures, Heavy Failure in St. Joseph. A. N. Schuster & Co., wholesale clothing. St. Joseph, have assigned; liabilities, estimated, $500,000. Mr. Schuster's real estate possessions in St. Joseph, aggregating $1,000,000, were placed in the hands of the assignee. The firm did a business of over $1,000,000 annually, and was until a short time ago considered one of the most substantial in the west. ST. JOSEPH, May 11.-The liabilities in the Schuster failure are placed at $500,000 and the assets at $800,000. From Washington. NEW POSTMASTERS. Edge Hill. Reynolds county. J.S. Eaton, vice David Latham. resigned. Leopolis. Livingston county, Arsenius Fable F. DeSales. vice resigned. Overton. Cooper county, W. F. Allen, vice H. H. Woolridge resigned. Valley Forge. St. Francois county, D. F. Giessing, vice Fred Giessing, resigned. W. H. Emerson. Hon. W. H. Emerson, ex-representative from Pettis county in the legislature, died at his home in Lamonte the other morning, aged over 50 years. A Great Strawberry Festival. The Daughters of the Confederacy have concluded
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NEWS ITEMS. Fort McIntosh will Le removed to Laredo, Tex. Miss Cordelia Clymer, of Bucyrus, O., will teach music in Honolulu. Two messenger boys were killed at Winnipeg, Man., by the fall of a chimney. The will of Marquis Eugene K. L Murphy, of San Francisco. is to be conA tested. war is on in the National Burial Case association that means cheaper Mr. caskets Richard Potter, a member of New York's four hundred, is down with Half a smallpox. dozen Berlin editors got short terms of imprisonment for criticising the police. The World says the New York and Brooklyn ice companies have formed a gigantic trust Bill to allow cities to furnish electric power for heating passed the Massachusetts legislature The Indiana appellate court decides that injured employes can not recover from railroads after accepting benefits The paving brick companies of Galesburg, Ill., Friday morning opened an abandoned coal mine, putting fifty men to work. The city gas trustees of Fostoria, O., shot an oil well on the Charles Redfern farm, in Perry town ship, which it is said does 500 barrels a day. The coal operators of the New river and Kanawha districts met at Clifton Forge, Va, and agreed to start up May 14, regardless of the strike. Judge W. S. Blair. of Jefferson county, III., has decided to attack the constitutionality of the senatorial apportionment acts of 1893, and 1882, Maj. D. D. Wheeler, depot master at Gen. Miles' headquarters. has been II!M ail 1 MON 01 occupy the same position at Governor $ island. It IS announced that the prospectus of a new daily newspaper in Dublin. devoted to the interests of the Healy faction of the Irish party, will shortly be issued. William N. Whitely, the burned-out reaper manufacturer, has contracted with other firms to furnish 5,000 machines which had been ordered of him this season. Albert Woodley, Wednesday morning shot and killed a Mrs. Buchanan, a widow, in Allegheny, Pa., and then nttempted his own life. He will recover. Jealousy the cause. The sheriff Thursday. sold out the furniture, silverware, paintings, etc, belonging to the Monmouth Park association, at the office on Madison ave nue, New York, for 450, The house committee on public build. ings and grounds authorized favorable reports on bills for public buildings at Altoona and Pottsville, Pa., Cumberland, Md., llelena, Mont. and Boise City, Idaho. Rt. Hon. Herbert Henry Asquith, British secretary of state for home affairs, was married in St. George's church, London, to Miss Margot Tennant, daughter of Sir Charles Tennant, of Glasgow. Information in possession of the Bureau of American Republics shows that abundant rains have fallen along the line of the International railroad in Mexico. This fact insures a good cotton crop this year. Controller Eckels appointed W, A. Latimer, bank examiner, temporary recolver of the First National bank, of Sadalia, Mo. Mr. Eckels said the appointment was made to place the bank in a position to sue. Middleton, 0., was terrible excited Wednesday night over the alleged defalcation of City Treasurer Weisbrodtof almost $30,000 of the city funds. The peculations are thought to have exfroms Knew .10A0 popusit The secretary of war has given perU SD Print 41 10 Act! on .101 mission Leper hospital for Louisiana at the ye: quest of the Louisiana representatives, acting in the name of the state of Louisiana and the city of New Orloans. Fifty striking potters, with their families, have arranged to leave East Liverpool, O., for England early next month to work in English potteries. The men are all skilled workmen, and more of the English strikers may follow them.
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Bank Receiver. A Washington, Special-The comptroller of the currency has appointed William A. Latimer, the present bank examiner iii Missouri. receiver of the First National bank in Sedalia.
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# THE FIRST NATIONAL OF SEDALIA. Receiver Latimer is nearing the end of his examination of the affairs of the First national bank of Sedalia. G. G. Thorne, the government expert sent to Sedalia by Comptroller Eckles, has finished his labors and left for Washington with the report of Mr. Latimer, who is acting in the dual capacity of examiner and receiver. Receiver Latimer declines to make public the nature of the report, but gives out the ambiguous information that his duties as receiver may require his staying in Sedalia at least three weeks longer and possibly for twelve months.
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BANK WRECKERS. Sensational Disclosures Made by the Filing of a Suit at Sedalia. SEDALIA, Mo., Sept. 13.-W. A. Latimer, receiver of the First National bank of this city, filed a suit today in the United States circuit court at Jefferson City, for $358,000 against the directors of the suspended institution. The petition is of a consational nature and makes public for the first time the alleged methods of President Cyrus Newkirk and Cashier J. S. Thompson, as well as those of the directors, in conducting the business of the bank. Only three of the directors, E. C. Cassidy, H. W. Wood and J. W. McClure, have property that can be reached by the suit. J. S. Thompson, the cashier, is a fugitive in Mexico, and Cyrus Newkirk, the president, is now residing in California. In a nutshell it is charged that the directors allowed Newkirk to overdraw his account to the amount of $101,000 and permitted Thompson to gamble away $71,000 in stocks and real estate, besides allowing insolvent parties without security to draw $90,000 out of the vaults. The receivers allege that the defendants as receivers during the whole time between September 6, 1890, and May 4, 1894, utterly failed and neglected to perform their duties, and failed to hold a meeting of said board of directors to look into and after the affairs of the bank. They also signed and attested false reports to the comptroller.
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DIRECTORS WERE NEGLIGENT. Charges Made by the Receiver of a Sedalia Bank. SEDALIA, Mo., September 14.-W. A. Latimer, receiver of the First National Bank of this city, has filed a suit in the United States circuit court at Jefferson City for $358,000 against the directors of the suspended institution. The petition is of a sensational nature, and makes public for the first time the alleged methods of President Cyrus Newkirk and Cashier J. C. Thompson, as well as those of the directors, ir conducting the business of the bank. J. C. Thompson, the cashier, is a fugitive in Mexico, and Cyrus Newkirk, the president, is now residing in California. It is charged that the directors allowed Newkirk to overdraw his account to the amount of $101,000, and permitted Thompson to gamble away $71,000 in stocks, wheat and real estate deals, besides allowing insolvent parties, without security, to draw $9,000 out of the vaults,
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LOOKING BACKWARD. Leading Events of a Memorable Twelve Months. THE YEAR 1894 PASSED IN REVIEW. Failures, Casualties, Crimes, Foreign and Industrial Happenings, Meteorology, Political, Social and Sporting Events Chronologically Recorded. BUSINESS FAILURES. BANKS GENERALLY. OTHERS FOR $500,000 AND OVER. Jan. 3-Southern Land and Improvement Co., Frankfort. Ky.; $500,000, Jan. 9-Citizens' bank at Ogden, Utah Bank of Port Washington, Wis. Jan. 10-W. T. Beek & Co., San Francisco commission merchants; $750,000. Jan. 14-Mendville (Pa.) savings bank Jan. 16-Merchants' bank, Ellis. Kan. Jan. 16-Third national bank, Detroit Bank of Zumbrota, Minn. Jan. 324 Westview savings bank, at Louisvilie, Ky. Jan. 24-First national bank, Fort Payne; Ala. Feb. 9-Signa Iron Co., of Philadelphia; $100,000 Feb. 14-American national bank at Springfield, Mo Burlington (Ia.) Fire & Tornado Insurance Co. Mar. 2-State bank at Brookville, Kan. Mar. 7-Bank of Harrison, Neb. Mar. 13-Bank of Excelsior Springs, Mo. Mar.28--Peoplelssavings bank of Duluth, and Merchants' bank of West Duluth. Apr. 6--J. B. Watkins Mortgage Co. of Lawrence, Kan: $5,550,000, Apr. 10-Aspen (Col.) national bank. Apr. 18-W. Thomas & Son. whisky dealers and distillers at Louisville, Ky.; $500,000. Apr. 19-West Superior Iron & Steel company of Milwaukee: $2,500,000. Apr. 24-Merchants bank of Enid, O. T. Apr. 27-Henry Newman & Co., importers of clothing supplies in New York: $1,500,000. Apr. 30-Scandinavian and Finland Emigrant Co. of New York; $4,000,000. May 4-First national bank of Sedalia, Mo. May 7-State national bank at Wichita, Kan. May 8-A. N. Schuster & Co., clothing dealers at St. Joseph, Mo.: $500,000. May 16-National bank of Pendleton, Ore. May 18-The order of Tonti to ha nds of receiver in Philadelphia. May 20-Traders' bank of Tacoma. May 24-Bank of Tempe at Phoenix, A. T. May 31-Bank at Enterprise, Kan. June 4-Steele & Walker, wholesale grocers at St. Joseph, Mo.: $700,000. June -Farmers' and Merchants' bank at South End. O. T. June German national bank at Denver, Col: $853,000. June 8-Union Warehouse Co. of New York; $1,000,000. June 10-American Investment Co. at Emmettsburg, In.: $800,000. June 18-Goodwin & Swift, of New York, electric railway builders and promoters; $750,000. June 21-Black Hills national bank of Rapid City, S. D. July 26-First national bank of Grant, Neb. Aug. 1-Baker City (Ore.) national bank. Aug. 7 Citizens' savings bank at Portsmouth, O. Aug. 10-Second national bank, Altoona. Pa. Aug, 18-Wichita (Kan.) national bank. Aug. 17-Commercial & Savings bankof Ludington, Mich. Sep. 6-Middleton (Pa.) bank. Sep. 7-Mutual Benefit Life associatio n of America ,headquarters at New York: $10,000,000 Oklahoma county bank at South Enid, O.T. Sep. 10-Citizens' bank of Plattsmouth, Neb. Sep. 21-Commercial bank at Weeping Water, Neb. Oct. 1-First national bank of Fayetteville, N.Y. Oct. 5-Coffin & Stanton, stock. brokers in New York: $3,600,000. Oct. 10-American Debenture Co., of Chicago; $1,500,000. Oct. 11-First national bank of Kearney, Neb. Oct. 12-Buffalo county national bank at Kearney, Neb. Oct. 16-Merced bank, at Merced, Cal. Oct. 23-George M. Irvin & Co., of Pittsburgh, Pai $1,000,000. Oct. 25-J. J Reithman and J. J. Reithman & Co. wholesale druggists in Denver; $500,000. Nov. 8-San Bernardino (Cal.) First national bank. Nov. 12-First national bank of Johnson City, Tenn. Nov. 10-Portland (Ore.) savings bank; $1,430,000. Nov. 23-Brown national bank at Spokane, Wash. Nov. 27-Kendall Banking company at Howard, S.D. Security National bank of Grand Island, Neb. Nov. 28-Bank of Canova, S. D. Dec. 4-North Platte (Neb.) national bank. Tacoma (Wash.) national bank. Dec. S-Farmers' Insurance Co., of Seattle, Wash. Dec. 11-Commercial bank, at St. Joseph, Mo.
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Assessment Upon Stockholders. SEDALIA, MO,, April 15.-James H. Eckels, Comptroller of the Treasury, to-day ordered Receiver W. A. Latimer to make an assessment upon the stockholders of the First National Bank for $187,500, which is equal to 75 per cent. of the capital stock, of $250,000.
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HAVE NCRVE, IF NOT MONEY. The Directors of That Sedalia Bank Will Resist Mr. Eckles' Assessment. Sedalia, Mo., April 18.-The directors of the suspended First National bank have decided to resist the payment of the 75 per cent assessment ordered to be paid by Comptroller of the Currency Eckles prior to May 15 next. The ground for resistance would be that the bank was not legally chartered, nor had it been a legitimate banking institution s'nce 1890, when by false representations on the part of its officers it was permitted to reorganize and increase its capital stock from $100,000 to $250,000. Legal talent has been secured and protracted litigation is assured.
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Will Resist the Assessment. SEDALIA, MO., April 18.-The stockholders of the suspended First National Bank have decided to resist the payment of the 75 per cent. assessment ordered to be paid by Comptroller of the Currency Eckels prior to May 15th next. The ground for resistance will be that the bank was not legally chartered, nor had it been a legitimate banking institution since 1890, when, by false reports on the part of its officers, it was permitted to reorganize and increase its capital stock from $100,000 to $250,000. Legal talent has been retained, and protracted litigation is assured.
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Julia E. Dockery, Kirksville, chairman of ex-ecutive board. # Refuse to Pay the Assessment. Says a dispatch sent from Sedalia: Receiver W. A. Latimer has been officially notified that he would not be able to collect the 75 per cent. assessment against the stockholders of the defunct First national bank except by a lawsuit. The shareholders set up the claim that the bank was not a legally chartered institution at the time of its failure, nor had it been since 1890. In that year the bank was reorganized, aud at the same time its capital stock was increased from $100,000 to $250,000. The stockholders claim that had the proper authorities at the national capital given the case the investigation that it demanded, reorganization and the increase of the capital stock would have been impossible. When Receiver Latimer was interrogated on the subject he did not deny having been notified of the prospective litigation. "This is a case that must be tried in the courts instead of the newspapers," said the receiver, "and all that I care to say now is that I will institute suit against all shareholders who have not paid their assessment by May 15 next." # Sent to an Asylum. Information was filed in the probate court of Newton county, the other day, alleging the insanity of Mrs. Marie Crays, and on trial she was so found and ordered taken to the asylum at Nevada. Mrs. Crays is possessed of considerable financial means. She went to Neosho from Southwest City some three months ago, and since that time has been making life unbearable, it is said, for a leading attorney, against whom she threatened to bring suit for $300,000 for breach of promise. # Want to Be Close to Zion. The recent convention of Mormons at Independence was very successful. The statement in the convention that the time is at hand for the "Gathering of the Saints" in Zion (Independence) is bearing fruit. Many Mormons are in that town inquiring about houses and farms. They expect all the "Saints of the Lord" to gather there, and there await the coming of Christ, which they say is near at hand. # Supported by Tax-Payers. During the past year there were 2,723 patients admitted to the female hospital in St. Louis. There were 346 births at the institution during the year. The expenses averaged $232.61 per patient. There are about 525 paupers in the St. Louis poorhouse, the majority being males. In the insane department there are about 775, of whom the greater number are females. # Missouri University Glee Club. The students of the Missouri state university have organized a glee club, composed of thirty members, which will soon start on an extensive tour through Missouri and the adjoining states. # War On Tobacco Chewers. One of the most prominent street railway presidents in St. Louis has declared war on tobacco chewers. He calls them hogs, and says they can not expectorate and ride in his cars. # Sewers of St. Louis. There are about 66½ miles of sewers in the city of St. Louis, not including private sewers. There were about 15 miles of district sewers constructed last year. # Hanged Himself. John T. Wolff, a cigar-maker, aged 42, who resided at 3150 Iowa avenue, St. Louis, hanged himself with a clothes line. He was found by his wife. # College President Chosen. Rev, George A. Ayres, recently of Washington college, Tennessee, has been chosen president of the Presbyterian college located at Independence. # Miner's Head Blown Off. D. O. Lapoint, a miner, was killed in the Kohinoor mine, Joplin. A charge of dynamite exploded while he was stooping over it and blew his head off. # Married on a Train. Lafayette Ligon, of Liberty, and Miss Kate Horenecker, of Smithville, were married on a railway train. There were objections to the match. # Elected to the Legislature. Poy Woodside, democrat, was elected to the legislature in Oregon county by 7 votes over Alf. Harris, populist, to succeed J. B. Old, deceased. # By Shooting. Odis Simpson, aged 20, son of G. W. Simpson, fatally shot himself at Brunswick. The recent death of his mother was the cause. # Sedalla High School. The new high school building at Sedalia will be three stories high, 90 by 110 feet, will accommodate 600 pupils and cost $30,000. # An Old Citizen's Sudden Death. Geo. F. Fisher, aged 75, dropped dead at Independence of heart disease. He had resided in Jackson county for sixty-five years. # Death of a Bank Cashier. E. W. McJunkin, aged 53, died at Selalia a few days ago. Mr. McJunkin was cashier of the First national bank of that city.
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From the Nation's Capital. Our government calls upon Guatemala for explanations regarding the abuse of Americans. The secretary of the interior decides against a Northern Pacific claim to land in Idaho. A statement of the condition of the treasury shows an available cash balance of $184,074,764 and a gold reserve of $90,329,135. The United States has been requested by the Chinese government to take under her protection the Chinese residing in Guatemala. Officials of the government take no stock in the statement that ex-Senator Ransom's appointment as minister to Mexico is illegal. William Latimer, receiver of the First National bank at Sedalia, Mo., was instructed by Controller of the Currency Eckels to levy an assessment of $187,500 upon the stockholders to pay the bank's indebtedness. The state deparement has checked in its inception an attempt, made by the Haytien government, to impose a discriminating tax upon American citizens and other foreigners residing in Hayti.
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# FEDERAL BANK SUPERVISION. Says the Globe Democrat: The stockholders of the collapsed First National Bank of Sedalia have raised a new legal question in their attempt to evade the assessment made upon them for the payment of the outstanding liabilities. They hold that they should not be required thus to make good the losses that ensued in spite of the supervision of the government through its bank examiner. In other words, they claim that they were released from liability when the government permitted the bank to run along in a bad condition. The plea is a plausible one, but it is hardly to be expected that any court will consent to help stockholders out of a bad place by such means. There is nothing in the laws pertaining to the national banking system which can be interpreted as making the government a guarantor of the absolute correctness of the investigations of its bank examiners. The fact is notorious that such investigations are rarely, if ever, thorough and reliable. Even when the examiner is competent and anxious to perform good service, he can be deceived more or less by the officers of the bank, and his report may represent a condition existing during his presence only, to be changed as soon as his back is turned. Deceptions of this kind have occurred so often that when a new one happens it does not cause any surprise. As a matter of fact, all forms of bank supervision are defective in some respects, and it will not do to depend upon them except in a general way and under favorable conditions. It is only occasionally that a federal bank examiner discovers that a bank is in a shaky condition, or that some of its officers or employes are stealing its assets. As a rule, such discoveries are made by accident, or by the confession of guilty parties, and the persons most surprised are those who should have found out the facts long before by reason of their relation to the business of the institution. There is a constant tendency on the part of the best banks and other concerns handling large amounts of money to impose closer restrictions upon their employes, and to introduce more effective plans of supervision. The directors of all kinds of corporations are taking more interest in their duties and acting upon a higher sense of responsibility. Much of this improvement is due to the guarantee indemnity companies, which have so much at stake in the integrity of their patrons; but there is reason to believe, also, that the necessity of self-protection has led to the adoption of better methods of surveillance and detection by private firms and companies. In due course of time, federal bank supervision will probably be made adequate and satisfactory; and until then, stockholders will be obliged to pay the losses which it does not prevent.
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MISSOURI STATE NEWS, An Inoperative Law. The Pettis county grand jury has made a recommendation which may lead to the repeal of an inoperative law. The report says: We recommend the repeal of the law requiring grand jurors to examine the books of the county officials. The improbability of the possibility of drawing 12 men at any one time that would have the ability to recognize an error in bookkeeping, even if such error should be bold on its face, conneoted with the limited time in which juries would be compelled to audit the books of every department to honestly find an error, makes it apparent to us that the law is very absurd and unreasonable. Therefore, we ask for its repeal, and would recommend in its place that the county court be empowered to employ experts to examine the books, when in their judgment the court thought it necessary, or a commission be appointed by the state, as in the case of banks. The Case of Ex-Banker Newkirk. At Sedalia Judge W. W. Wood overruled the motion to quash the four indictments found against Cyrus Newkirk, president of the suspended First national bank, charged with having received deposits when he knew the bank to be in a failing condition. The defendant, whois 76 years old, is quite ill in California, and his physicians say that to compel him to return to Sedalia in December, the time set for the trial of the cases, will result fatally. The bank failed May 4, 1894, with a shortage of $254,000, and the depositors have not yet received a dividend.
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other occupants of the schoolhouse to find his home in flames. It was impossible to enter the house, as it was crumbling when Penrod reached It. The children's beds were by the window, however, and Penrod burst the window open and succeeded in pulling the 8-year-old and 4year-old boys out, horribly burning himself in the act. They never regained consciousness and died in a short time. The others were burned (until only a few bones were found in the debris of the house. The coroner's inquest threw no light on the origin of the fire. A WHOLESALE FIREBUG. Detroit, Mich., March 24.-A special to the News from Cleveland, Ohio, says: William Ingless, under arrest here for incendiarism. confessed today to having set fire to forty buildings in Detroit. BICYCLE WORKS BURNED. Reading, Pa., March 24.-The large plant of the Acme bicycle works was destroyed by fire early this morning. All the valuable machinery was destroyed, making the total loss about $75,000, covered by insurance. The building contained material for fully 5,000 bicycles. BANKERS INVESTIGATED. St. Paul, Minn., March 24.-A Bismarck, N. D., special to the Pioneer Press says: The banking methods of some of the suspended national banks of the state are being investigated by the United States grand jury now in session. Two indictments have already been found, one against Lee Booker, extreasurer and president of Grand Forks National bank, and the other against H. F. Salayards, president of the First National bank of Minot. Booker is charged with making false returns to the comptroller of the currency. He was arraigned today, plead not guilty, and was held for trial in $5,000 bonds. Salayards is charged with aiding and abetting in making false entries in the bank's books. He pleaded not guilty and was held in $6,000 bonds for trial. The indictment of Booker came as a great surprise to his friends throughout the state. He was state treasurer for three years, entering the office in 1893, and has always taken an active part in state politics. BOGUS BONDS MUST BE PAID. Kansas Cty, March 24.-A special to the Star from Sedalia, Mo., says: Judge W. W. Wood, of the Johnson county circuit court, has decided that the Sedalia school district must pay $23,000 to the holders of school bonds issued in 1883 and fraudulently sold to eastern people. The bonds were paid ten years later and left in the custody of J. C. Thompson, cashier of the First National bank and financial agent for the school bonds. Instead of turning them over to the treasurer to destroy, Thompson resold them to eastern people and by paying the interest on the coupons the swindle was not detected until the bank failed and Thompson had fled to Mexico. SHOT HER PARAMOUR. Middlesboro, Ky., March 24.-A special from Hancock county, Tenn., states that Martha Bull shot and killed her paramour, Thomas McRae, and then shot herself. The Bull woman thirty years ago was a leader of society in Camden, Va. She claimed to be collaterally related to Washington. DURRANTS APPEAL San Francisco, March 24.-The attorneys for Theodore Durrant have filed a petition in the supreme court for rehearing of the application, previously dei nied, for a new trial. No new points are cited and it will be decided without argument. The prosecution believes the I petition will be denied.
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INVESTIGATION ASKED FOR. Depositors of a Defunct Sedalia Bank Make Grave Charges Against Comptroller Eekels. Sedalia, Mo., May 2.-(Special.) A letter containing grave charges reflecting upon the official conduct of the comptroller of the currency, prior to, and subsequent to. the wrecking of the Sedalia First National bank, has been prepared and signed by the majority of the depositors of the bank and will be forwarded to-morrow to Judge James Cooney, of Washington, demanding that he press the request of the depositors for a congressional investigation. The letter recalls the circumstances connected with the failure of the bank, its robbery, the flight of the cashier to Mexico and the farcical attempt to extradite him, and the indictments against President Cyrus Newkirk, now living in plenty in California, which were never tried. The summarized charges are: "First-In July, 1893. the bank was publicly and widely reported as in a failing condition, and such facts were known to the comptroller of the currency. "Second-That, by the neglect or care. lessness of the United States officials, the bank was permitted to run until its prestdent. cashier (J. C. Thompson) and other officers had robbed it of all they could place their hands upon, and closed it themselves when there was nothing more left for them to plunder. "Third-That, shortly prior to the abandonment of the bank, W. A. Latimer, now receiver, was sent to Sedalia to examine the bank, but, as he was about to enter upon his examination, the comptroller of the currency sent Latimer a telegram to defer the examination, said intervention having been procured by the officers of the bank through influential persons, and the officers took advantage of the respite to spread the report that the condition of the bank was SO good that the examiner would not waste his time to examine the books, and they proceeded without delay to secure deposits. and to rob. wreck and transfer for their own use and benefit the assets and appropriate the property of the bank to their own use, close its doors and flee from the country. "Fourth-That Receiver Latimer's administration has been of unreasonable length of time; that he has made no effort to recover property that was transferred by fraud and stealth by the officers of the bank just prior to its abandonment: that he has, by mismanagement, greatly reduced the assets and the funds available for liquidation: that he has paid numerous large and unnecessary lawyers' fees, and that property of the bank has been left in charge and control of relations and kinsmen of the former officers of the bank, and he keeps on his force of clerks and employes the relations and clerks of the former officers of the bank."
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LETTER FROM SENATOR VEST. He Explains His Request Relating to the Sedalia National Bank. SEDALIA, Mo., Aug. 31.-United States Senator George G. Vest has addressed a letter to Congressman James Cooney of the Seventh Missouri district in reply to a recent communication from James H. Eckles, Comptroller of the Currency, in which the reader was led to infer that Senator Vest had requested in 1894 that the proposed examination of the Sedalia First National Bank, in April of that year, be deferred until certain that the bank's assets could be realized upon. The letter is as follows: "My attention has been called to a letter of the 22d inst. from the Hon. J. H. Eckels, Comptroller of the Currency, to the Hon. James Cooney, in which the statement is made that in April, 1894, I requested the postponement of an examination by the National Bank Examiner of the First National Bank of Sedalia. The facts are simply these: "In March, or April, 1894, Mr. Cyrus Newkirk, President of the bank, and Mr. J. C. Thompson, the cashier, wrote me that an examination of the bank was about to be made before the time fixed by the established rule of the Comptroller, and that, on account of a false report put in circulation by some one that the institution had failed, and the additional fact that on account of the stringency prevailing they were unable to collect, there was danger of a run on the bank if an examination was made before the regular time. They requested me to lay these facts before the Comptroller of the Currency. Believing them to be honest men, and that their statements were true, I did so. I have no apology to make, and hope there will G. G. VEST." be the fullest investigation.