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Closed Its Doors, ERIE, Penn., June 28.-The Keystone national bank closed its doors at noon, to-day. The suspension Wig a complete surpris. Ex Congressman Griswold is president of the bink.
18662. Keystone National Bank (Erie, PA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 535
- Charter Number
- 535
- Start Date
- June 29, 1897
- Location
- Erie, Pennsylvania (42.129, -80.085)
Metadata
- Model
- gpt-5-mini
- Short Digest
457a162a
Response Measures
None
Receivership Details
- Depositor recovery rate
- 55.0%
- Date receivership started
- 1897-07-26
- Date receivership terminated
- 1906-10-01
- OCC cause of failure
- Excessive lending
- Share of assets assessed as good
- 17.9%
- Share of assets assessed as doubtful
- 65.6%
- Share of assets assessed as worthless
- 16.5%
Description
Contemporary reports (June 28-29, 1897) state the Keystone National Bank of Erie closed its doors by unanimous vote of directors and will pay depositors in full. Later (July 27, 1897) a receiver (Frank M. Hayes) was appointed. No articles describe a depositor run prior to suspension; the closure appears voluntary by directors followed by receivership.
Events (4)
1.
October 19, 1864
Chartered
- Source
- historical_nic
2.
June 29, 1897
Suspension
- Cause
- Voluntary Liquidation
- Cause Details
- Directors by unanimous vote decided to close the bank; multiple reports state depositors will be paid in full. Described as a surprise decision by directors rather than an announced run or regulatory closure.
- Newspaper Excerpt
- The Keystone National bank closed its doors at noon today. The suspension was a complete surprise.
- Source
- newspapers
3.
July 26, 1897
Receivership
- Source
- historical_nic
4.
July 27, 1897
Receivership
- Newspaper Excerpt
- Frank M. Hayes has been appointed receiver of the Keystone National bank of Erie, Pa.
- Source
- newspapers
Newspaper Articles (18)
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Bank Closed. ERIE, Pa.. June 29.-The Keystone National bank closed its doors at noon today. The suspension was a complete surprise. Ex-Congressman Griswell was preside nt of the bank.
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NEWS IN A NUTSHELL. The Keystone National bank of Erie, Pa., has suspended. The Union Trust and Savings bank at Tacoma has suspended. Queen Victoria has invited all the tolonial troops to a luncheon parade at Windsor castle next Friday. The 15th annual encampment of the Vermont division, Sons of Veterans, opened at Lyndonville last night. The corner stone of the Church of Our Savior at Middleboro, Mass., was laid yesterday in the presence of many people. After years of ironclad agreement to maintain prices, the Boston bicycle pool has been at last broken, and prices are being cut. The Dominion parliament was prorogued last night by Lord Aberdeen, governor general. There was but a small attendance of members. Mrs. John B. Varick of Manchester has been reappointed as a member for five years of the New Hampshire state board of charities and corrections. Miss Helen Woodruff Smith, only daughter of Commodore James D. Smith, formerly president of the New York Stock Exchange, was married aboard the Viking, at Larchmont, Conn., yesterday to Homer S. Cummings, Yale '91. With a view to securing the admission of Montreal into the circuit of the Eastern League of Baseball clubs, the Montreal Baseball association has been formed with a capital of $10,000. The intention is to buy out the Wilkesbarre franchise. Cyrus A. Worthy, night depot master for the Boston and Albany company at Springfield, Mass., for the past 25 years, died last evening. He was a well-known character among railroad men, among whom he was highly respected. He was born at Stockbridge, Mass., Sept. 28, 1821, and with the exception of about six years has been in the employ of the Boston and Albany since 1843. The first counterfeit of the new design of silver certificates has reached the secret service bureau at Washington. It is of the $5 denomination. and bears :heck letter B, plate No. 4. It is a photolithographic proruction and is printed upon two pieces of paper, between which silk fibre has been dispributed, then pasted together. Much DR the work on the note is blurred and ndistinet.
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CURRENT EVENTS. Robert J. Powley was electrocuted at Auburn (N. Y.) prison Tuesday morning. The execution was success. ful. The seventh annual convention of the Ohio German Teachers' association is in session at Dayton with a large attendance, Senator Pettigrew was on the floor 01 the senate Tuesday, and was congratu. lated by his colleagues on his speedy recovery from his recent illness, The Keystone national bank, of Erie, Pa., by a unanimous vote of its directors, has decided to close its doors, The depositors will be paid in full. Henry Gersoni, a well-known Jewish scholar, rabbi and writer, is dead at his home in New York, aged 54 years. He was an accomplished linguist and wrote many articles on the Jews in Russia, The Clinton Lithographing company, of Chicago, has assigned. A suit in court was the immediate cause of the assignment. The nominal assets are $419,694, and the liabilities, $104,442. Fire in Philadelphia destroyed the large five-story building north of Montgomery avenue and between Fourth and Fifth streets, occupied by several manufacturers. The loss will aggre. gate about $150,000. One thousand miners employed by the Coal Creek company, in Tennessee, returned to work Tuesday morning at the old scale after a brief strike. The men were in sympathy with the strik. ers in the Jellico district. Secretary of State J. A. Rease, of Illi: nois, has issued a writ recalling the order for a special election in McHenry county on August 3 to elect a county judge. A new writ was issued calling for an election on August 18. Samuel Clark, a negro, climbed upon the porch roof of the house occupied by Mrs. Grady, a colored woman, at Greens. burgh, Pa., and breaking the window of her sleeping-room, drew a revolver and shot her dead. The cause of the murder is a mystery. Clark is still at liberty. Three hundred Bannock Indians have broken away from the Fort Hall reservation in Idaho, and their actions have alarmed the settlers in the adjacent territory. Gov. Steuneberg has been appealed to for protection, and he has telegraphed the Washington authorities for assistance. A Firecracker Story. He did it in sport; He alone is to blame: The fuse was too short, Now his finger's the same. - Washington Star.
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brought about a deadly shooting affray at a pienie near Vaneeburg, Ky., in which two persons were killed and many others were wounded. Four masked men made a desperate attempt to rob the Butte county bank at Belle Fourche, S. D., but only secured $75. Cramps seized five persons who were bathing in various sections of Chicago and all were drowned. Passenger trains collided near Vandalla, III., killing R. T. Sherman and W. P. Coon, of Indianapolis, Ind., and fatally injuring Samuel Parkinson, of Columbus, O., and Frank Owens, of Terre Haute, Ind. The boiler of a thrashing machine engine exploded at Adair, Ga., killing three men instantly and fatally wounding four others. I The steamer St. Louis broke the ocean record between New York and Southampton, her time being 6 days 10 hours and 45 minutes. The Keystone national bank at Erie, Pa., by a unanimous vote of the directors, decided to close its doors. The depositors will be paid in full. Arthur Gardiner, of Chicago, broke the world's mile bicycle handicap record in Springfield, Ill., going the distance in 2:05 1-5. The Union trust and savings bank at Tacoma, Wash., went into the hands of a receiver. The house of George Copeland was struck by lightning at Cadillae, Mich., and his wife and sister and her little child were instantly killed. Robert J. Powley was electrocuted in the Auburn (N. Y.) prison for the murder of his wife. The reports as to the condition of the crops throughout the country were all favorable. Three hundred Bannock Indians broke away from the Fort Hall reservation in Idaho, and the settlers were greatly alarmed. The University of Illinois at Champaign has decided to admit women to the medical college. T. M. Cleveland and his wife, of Washington, were killed and four other persons were injured in a runaway accident near Dover, N. J. The Clinton Lithographing company of Chicago failed for $104,000. A severe downpour, amounting almost to a cloudburst, carried away many bridges and in some cases wiped out roads near Waupaca, Wis. Thus far over 500,000 - persons have visited the exposition at Nashville, Tenn., and the success of the enterprise is assured. Two sections of a Christian Endeavor excursion train on the Northwestern road collided at West Chicago, Ill., and four persons were killed and 15 others were injured. Enemies of Leon Olchofski blew up his block of buildings in South Scranton, Pa., with dynamite, and 20 other houses had all the windows blown out and plaster torn from the walls. Several persons were badly injured, O1chofski probably fatally. "Schweinfurth," the so-called "Messiah" of Rockford, Ill., has purchased land in Benton county, Ark., where he will establish one of his "heavens." The Grand View, the leading hotel at Tallulah Falls, a well-known Georgia summer resort, was burned. The grain dealers' national convention met at Des Moines, Ia. The republican members of the senate committee on judiciary have practically agreed upon an amendment to the tariff bill making it an offense punishable by fine and imprisonment for any person or corporation to monopolize or conspire with any other person or corporation to monopolize trade in any article protected by the tariff bill. The proposed boxing match between Fitzsimmons and Sullivan in Brooklyn, N. Y., on July 5 has been prohibited by the police. Secretary of Agriculture Wilson has decided that officials of the government must obey the orders of courts whether they are engaged when summoned
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MINOR NEWS ITEMS. For the Week Ending July 1. William B. Mackeller, head of the type trust, died in Philadelphia. At Cambridge, Mass., Harvard university graduated a class of 773 men. William F. Hoey, the well-known comedian, died in New York, aged 42 years. Mark Twain has rejected the plan of the New York Herald to raise funds to pay his debts. The Union trust and savings bank at Tacoma, Wash., went into the hands of a receiver. The Western Door company, a trust with headquarters at Rock Island, III., has collapsed. Robert J. Powley was electrocuted in the Auburn (N. Y.) prison for the murder of his wife. The Grand View, the leading hotel at Tallulah Falls, a well-known Georgia summer resort, was burned. Judge Thomas M. Cooley, of Ann Arbor, Mich., the noted authority on constitutional law, has become a hopeless invalid. Four masked men made a desperate attempt to rob the Butte county bank at Belle Fourche, S. D., but only secured $75. The National Grain Dealers' association in session in Des Moines, Ia., elected W. T. McKay, of Kentland, Ind., as president. Arthur Gardiner, of Chicago, broke the world's mile bicycle handicap record in Springfield, Ill., going the distance in 2:05 1-5. Parry Gilliam, a negro, was taken from the Monroe county (Miss.) jail by a mob and hanged for attempting to assault a white woman. Estimates on Chicago's population made by accountants in the employ of the Lakeside Directory company place the figures at 1,828,000. The Mohammedans in Teheran, Persia, invaded the Jewish quarters of that city and inflicted shocking maltreatment upon the residents. The Keystone national bank, of Erie, Pa., by a unanimous vote of its directors, has decided to close its doors. The depositors will be paid in full. Five Indians, including Chief WeeSug, died at Malone's Point, Minn., as a result of drinking pain killer, hair oil and other preparations containing alcohol. Col. F. B. Mussey, the well-known Washington correspondent, died at Middlebury, Vt., of Bright's disease. He was 51 years of age and had been ill for some time. The Anchor line steamer City of Rome arrived in New York from Glasgow after a thrilling experience with fire on board ship, but none of the passengers were injured.
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DOMESTIC. Tom Logan and Wyatt Cooper brought about a deadly shooting affray at a pienic near Vanceburg, Ky., in which two persons were killed and many others were wounded. Passenger trains collided near Vandalia, Ill., killing R. T. Sherman and W. P. Coon, of Indianapolis, Ind., and fatally injuring Samuel Parkinson, of Columbus, O., and Frank Owens, of Terre Haute, Ind. Lightning struck the convict camp at the lumber mills near Dakota, Ga., and four of the convicts were killed and ten others were injured, some fatally. Estimates on Chicago's population made by accountants in the employ of the Lakeside Directory company places the figures at 1,828,000. Four masked men made a desperate attempt to rob the Butte county bank at Belle Fourche, S. D., but only secured $75. The boiler of a thrashing machine engine exploded at Adair, Ga., killing three men instantly and fatally woundIng four others. The steamer St. Louis broke the ocean record between New York and Southampton, her time being 6 days 10 hours and 45 minutes. The Keystone national bank at Erie, Pa., by a unanimous vote of the directors, decided to close its doors. The depositors will be paid in full. Arthur Gardiner, of Chicago, broke the world's mile bicycle handicap record in Springfield, Ill., going the distance in 2:05 1-5. The Union trust and savings bank at Tacoma. Wash.. went into the hands of a receiver. The Clinton Lithographing company of Chicago failed for $104,000. The house of George Copeland was struck by lightning at Cadillac, Mich., and his wife and sister and her little child were instantly killed. Robert J. Powley was electrocuted In the Auburn (N. Y.) prison for the murder of his wife. The reports as to the condition of the crops throughout the country were all favorable. Three hundred Bannock Indians broke away from the Fort Hall reservation in Idaho, and the settlers were greatly alarmed. The University of Illinois at Champaign has decided to admit women to the medical college. T. M. Cleveland and his wife. of Washington, were killed and four other persons were injured in a runaway accident near Dover, N. J. Enemies of Leon Olchofski blew up This block of buildings in South Seranton, Pa., with dynamite, and 20 other houses had all the windows blown out and plaster torn from the walls. Several persons were badly injured, Olchofski probably fatally. The Grand View, the leading hotel at Tallulah Falls, a well-known Georgia summer resort. was burned.
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EAST By a unanimous vote`of its dir tors the Keystone national bank of Erie, Pa., has decided to close its doors. The depositors will be paid in full. Henry Gersoni, aged 54 years, a wellknown Jewish scholar, rabbi and writer, is dead at his home in New York City. He was an accomplished linguist and wrote many articles on the Jews in Russia. On the New York stock exchange, on the 30th, the suspension of Harvey B. Rich was announced. Mr. Rich has been a member of the exchange since 1885. Two members of a coaching party were killed and four others were injured on the 29th ult. near Budd lake, a pleasure resort near Dover, N. J. At New York City the annual excursion of the County Cork men was held on the 80th ult., two barges being taken out in the bay. There was a big crowd aboard, and while off Liberty island Miss Nora Murphy fell overboard. Bartholomew Clancey, to whom the young woman was affianced, jumped after her, and both were drowned. Pending a settlement of the wage scale Chambers' glass works at New Kensington, Pa., and the two tin plate works at that place, are shut down. c As a result about 1,500 men are out of work. Two of the railways of India have placed largeorders for steel rails in the United States. The price is said to be n £1 per ton below the figure at which the contract could be filled in England. e The monument of the First Minnen sota regiment was dedicated on the Gettysburg (Pa.) battlefield on the 2d in the presence of a number of distinguished Minnesotans. The monument is one of the finest on the field and was erected at a cost of $20,000. At Philadelphia on the 2d a fast freight and coal train on the Pennsyle vania road collided and Robert RéaS gan, a fireman, was killed. Both ene, gines were completely wrecked, involvy ing a loss of over $10,000. o, For the week ended July 2 business a failures in the United States numbered 241, as compared with 257 for the corresponding period of 1896, and 80 in Canada, as against 22 for the same time last ad year. During the past six months there - were 7,024 business failures reported to Bradstreet's in the United States, a re falling off of 578 from the like total ft last year, with which exception it is at the largest aggregate of failures in a 1like period. a The Reading and the Delaware and cHudson Canal Coal companies, have ch issued schedules of new prices, showing it. an advance of 25 cents a ton for thracite coal, beginning July 1. Diplomas were given to nearly 706 young men at Yale college on the goth 1] ult. The approximate numbers of the various departments follow: Academic th e: 290, scientific 240, law 80, divinity 30 medical 30. This is the largest clas that ever graduated from the uni versity.
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DOMESTIC. It is said that the scheme of Eugene V. Debs to plant a socialistic colony in the west has been abandoned, and to take its place there will be a small migration of unemployed men to the state of Washington. Pary Gilliam, a negro, was taken from the Monroe county (Miss.) jail by a mob and hanged for attempting to assault a white woman. Tom Logan and Wyatt Cooper brought about a deadly shooting affray at a picnic near Vanceburg, Ky., in which two persons were killed and many others were wounded. Passenger trains collided near Vandalia, Ill., killing R. T. Sherman and W. P. Coon, of Indianapolis, Ind.. and fatally injuring Samuel Parkinson, of Columbus, O., and Frank Owens, of Terre Haute, Ind. Lightning struck the convict camp at the lumber mills near Dakota. Ga., and four of the convicts were killed and ten others were injured, some fatally. Estimates on Chicago's population made by accountants in the employ of the Lakeside Directory company places the figures at 1,828,000. Four masked men made a desperate attempt to rob the Butte county bank at Belle Fourche, S. D., but only secured $75. Cramps seized five persons who were bathing in various sections of Chicago and all were drowned The boiler of a thrashing machine engine exploded at Adair, Ga., killing three men instantly and fatally wounding four others. The steamer St. Louis broke the ocean record between New York and Southampton, her time being 6 days 10 hours and 45 minutes. The Keystone national bank at Erie, Pa., by a unanimous vote of the directors, decided to close its doors. The depositors will be paid in full. Arthur Gardiner, of Chicago, broke the world's mile bicycle handicap record in Springfield, III., going the distance in 2:05 1-5. The Union trust and savings bank at Tacoma, Wash., went into the hands of a receiver. The Clinton Lithographing company of Chicago failed for $104,000. The exchanges at the leading clearing houses in the United States during the week ended on the 25th aggregated $979,269,233, against $1,054,145,233 the previous week. The increase compared with the corresponding week of 1896 was 8.5. A wind and hailstorm in Missouri did great damage at Rich Hill, Macon, Sedalia and St. Joseph, and several lives were lost. Advices from various portions of the country say that there is no step backward in business. Improvement continues gradual and prudently cautious as before, although in many branches evident where no signs of it appeared a few days ago. Elders Rydalch, Pomeroy, Parish and Jones, Mormon elders from Utah, were run out of Meridian, Miss., by citizens. The sidewheel steamer City of Buffalo broke the speed record for the great lakes, her average time from Cleveland to Put-in Bay being 22 miles an hour. A special crop report covering 600 points in Iowa, Nebraska, Kansas and Minnesota says that corn and small grains, with the exception of winter wheat and oats, promise well. # Johnnie, the famous pacer, broke his neck; in a pasture at Napoleon, O. He was owned by W. H. Barnes, of Sious City, Ia., and was valued at $15,000.
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NUGGETS OF NEWS. The wheat crop of the United Kingdom is reported away below the average. Frank M. Hayes has been appointed receiver of the Keystone National bank of Erie, Pa. The convention of the Women's Home Missionary society of the Methodist church is in session at Ocean Grove. Pasquale Dedario, the Italian who murdered the little child, Modestino Moffo, was hanged at Philadelphia this morning. The young king and the Queen regent of Spain had a narrow escape being shot by a bird shooter in the woods of St. Sebastian. Sir Wilfred Laurier, the Canadian prime ininister, had a conference in London with Mgr. Rafael Merry Del Val, the papal delegate to Canada. Important results are*expected.
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NUGGETS OF NEWS. The wheat crop of the United Kingdom is reported away below the average. Frank M. Hayes has been appointed receiver of the Keystone National bank of Erie, Pa. The convention of the Women's Home Missionary society of the Methodist church is in session at Ocean Grove. Pasquale Dedario, the Italian who murdered the little child, Modestino Moffo, was hanged at Philadelphia this morning. The young king and the Queen regent of Spain had a narrow escape being shot by a bird shooter in the woods of St. Sebastian. Sir Wilfred Laurier, the Canadian prime minister. had a conference in London with Mgr. Rafael Merry Del Val, the papal delegate to Canada. Important results are expected.
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CONDENSED NEWS Gathered From All Parts of the Country by Telegraph. Frank M. Hayes has been appointed receiver of the Keystone national bank at Erie, Pa. The New York Herald's correspond. ent in San Salvador says: Otto Munchmeyer, United States consul in San Salvador, has committed suicide. At New York 2,300 garment workers went on a strike Monday. One hun. dred and twenty-five shops in New York city and Brooklyn are affected. There was shipped Monday from the Bethlehem Iron Co. Ordnance works to the Washington navy yard a large consignment of gun tubes, hoops and other supplies. The New York cotton mills in Saco, Me., will shut down Saturday for five weeks, the reason assigned being the necessity of reducing the output. The mills employ 1,500 operatives. Klondyke matters are about to be investigated by the Mining Exchange of New York and steps taken to have the most reliable information in the event of the listing of Alaskan gold stocks. A party of men, who wish to try the Klondyke gold cure, will leave Chicago on a special train next Saturday night en route for the newly discovored Alaskan gold fields. There will be 150 individuals in the party. Mr. Uhl, late ambassador to Germany, and Mr. Terrell, late United States minister to Turkey, called at the white house and the state department Monday to pay their respects to the president and the officials. Pasquelle Dadario was hanged in the county prison, Pniladelphia, Tuesday morning for the murder of Modestino Moffo. The drop fell at 10:08½ The victim of the murder was a three year-old child. The crime was one of the most brutal in the police records of Philadelphia. A. T. Genest, a well known Montrea engineer, leaves on the 8th of Augus for the Kiondyke, with eight or ter assistants in behalf of a Canadian syn dicate. Mercier, a French Canadia scout and explorer, well known in con nection with other explorations il Alaska, is also going. During the session of congres Church Howe, of Nebraska, was ap pointed and confirmed as consul gen eral at Apia, Samoa. He does no care to take the place and has nov been selected for consul at Palermo Italy, and Luther W. Osborn, a lawye of Blair, Neb., will be named for con sul general at Apia. The last of the summer conference at East Northfield. Mass, the genera conference for Christian workers will
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A WEEK'S NEWS CONDENSED. Friday, July 23. Marcus Nichols, a. wealthy farmer, residing near Bridgeport Conn., was murdered by burglars. President McKinley will summer on Lake Champlain, and will leave Washington on Wednesday. A bear escaped from his trainer near Hamburg, N. Y., and treed five bloomer girls before he was recaptured. James R. Keene, the veteran Wall street operator, is said to have increased his fortune $2,000,000 by the rise in sugar stock. The Chinamen of Philadelphia will oppose the payment of the alien tax on the ground that they are barred from citizenship. Saturday, July 24. The knee pants makers' strike in New York is gaining strength. For criminal assault on a 3-year-old child, Jim Grey, a negro, was lynched yesterday near Goldville, S. C. Fire last night destroyed the main building of the Peoria (Ills.) Grape Sugar company, causing $500,000 loss. While standing with his mother beneath a tree near Upper Lehigh, Pa., 16-year-old George Remps was killed by lightning. The Japanese cabinet has agreed to the proposal of the Hawaiian government to submit the questions at issue between the two governments to ar= bitration, NOB M n lay. J Ily. 26 Three 40-knot torpedo boats are to be built in this country for a South American government, Rev. Dr. Malcolm McGregor Dana died at his home in Brooklyn yester= day. He was 60 years old. Because they could not marry Patrick and Annie Sulliyan, cousins, committed suicide at Westchester, N. Y. John Griffin, a cold storage house laborer in Buffalo, N. Y., was killed by ammonia fumes. His body was burned as if by fire. The Chittenden collection of old stamps, worth $8,000, has been stolen from Dr, J. Bruce Chittenden's house in New York. Tuesday, July @7. The wheat crop of the United Kingdom is reported away below the average, Frank M. Hayes has been appointed receiver of the Keystone National bank of Erie, Pa. Pasquale Dedario, the Italian who murdered the little child, Modestino Moffo, was hanged at Philadelphia this morning, The young king and the Queen regent of Spain had a narrow escape being shot by a bird shooter in the woods of St. Sebastian. Theodore H. Schintz, a Chicago law= yer and real estate dealer, who failed to the extent of nearly a million dollars, has been arrested on a charge of fraud in selling a trust deed for $5,000. Wednesday, July 28. Secretary Sherman denies that he intends resigning his office, President McKinley left Washington for his summer home on Lake Champlain. William Skelly, a wealthy truckman of Brooklyn, was instantly killed at Coney Island yesterday by falling under a truck. English papers look upon Hawaiian annexation and the correspondence bearing upon it as indicative of approaching trouble. The president has appointed Major Moses P. Handy, of Illinois, special commissioner of the United States to the Paris international exposition of 1900. Thursday, July 29. The British military station at Hallfax is being greatly strengthened. Rev. James Trobec, of St, Paul, has been appointed bishop of St. Cloud, Minn. Marquis Ito, the ex-Premier of Japan. now in Paris, declares that there is no danger of war between Japan and the United States over Hawaii, It is not likely that there will be any further extended correspondence between the state department and the Japanese minister on the subject of Hawaiian annexation. William R. Valentine, a well known Brooklyn newspaper man, who claimed to be the author of "Casey at the Bat," died yesterday at Oyster Bay, L. L, aged 35 years, of abscess of the brain.
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McKinley's Prosperity (?) Increasing. The Indiana Farmers' Savings and Loan Association is in the hands of a receiver, at Fort Wayne. The liabilities will reach $94, 000, covered by assets consisting of farm mortgages amounting to $99,600. The Chicago Sugar Refinery, which uses 400 tons of bituminous coal daily, has suspended owing to the high price of fuel. The Aurora (Illinois) Cotton Mills have closed on account of the coal famine. The concern employs 600 hands. George W. Wagner, merchant at Spring Grove, Pa., is in the hands of the sheriff. A cut of 10 per cent. has been made in the wages of the operatives at the shoe manufactory of Hefferman & Co., at Salem, Mass. The condition of business and the shoe market is assigned a3 the cause. The Brownell Car Company of St. Louis, Missouri, has filed a deed of trust for its creditors. The Dwight and Barnett Paper Company, dealers in printing and wrapping paper, of Chicago, have assigned. All through trains over the Pittsburg division of the Baltimore and Ohio Railroad are guarded by men with Winchester rifles to prevent tramps from holding up trains. The liabilities of Theodore H. Schintz, the Chicago lawyer and real estate dealer who assigned last week, have been found to reach $1,000,000, while his available assets have dwindled to less than $100,000. The bank of Mammoth Springs, Arkansas, failed on Saturday; assets $100,000 and liabil ities $71,000. The Naumkeag cotton mills, at Salem, Massachusetts, will close down on August 2 for two weeks, throwing 1500 hands out of work. Two thousand three hundred garment work ers went on strike in New York Monday. One hundred and twenty-five shops in that city and Brooklyn are affected. The York Cotton Mills in Saco, Me., will shut down today for five weeks, the reason as signed being the necessity of reducing the output. The York mills employ 1,500 operatives. The agents of the Atlantic and Everett Cot ton Mills, of Lawrence, Mass., respectively, have announced that operations will be suspended at their mills during the month of Au gust. Both mills will close down today, Saturday. No reason was given by the agents for the shutdown. About 2,500 operatives will be affected. The Keystone National Bank, of Erie. Penna., is in the hands of a receiver. Henry J. Horn and John H. Horn, a pack ing firm at Sharon, Md., have made a deed of trust. E. S. Eberly, merchant, Durlach. Pa., has assigned, under a judgment of $25,000. Receiver John H. Bryant has sold the Seattle Coal and Iron Company to Murphy, Grant & Co., of New York, and four others, for $130,000. The purchasers are the five creditors whose claims thereupon the court decided were prior. The Chicago Metropolitan Electric Com pany failed Tuesday. Poor collections are said to have caused the assignment. Executions aggregating $37,274 against the Daimler Moior Company, at Steinway, were filed with the sheriff of Queen's county, N. Y., Tuesday. The company manufactures motors for vachts and carriages, and it has several good-sized yachts in course of con struction. The directors of the Lyman Cotton Mills, of Holyoke, Mass. have voted to pass the regular semi-annual dividend of 2 per cent,, which has been declared every six months for 12 years. Treasurer Parsons stated that the busness for the last six months had been excep tionally poor. The capacity of the mill is 100,000 spindles, of which 65,000 spindles have been shut down. The mills will continue partially closed down until there is a better demand. West Virginia Hard Wood Lumber Com pany, Pittsburg. Pa., and Jack, W. Va., has appointed a receiver. J. B. Boone, dry goods, Waxahachie, Tex., has given trust deed. Executions were issued by Sheriff Brod beck on the property of Miss M. E. Davis, of York, Pa., on Tuesday. Miss Davis has been doing business as a milliner; liabilities near $4,000, YORK, PA., July 27.-Eight more farmers and merchants failed today, which makes 21 since Friday. The largest failure was for $12,000. This is the largest number of fail ures ever recorded here at one time. Hard times is the cause. Hon. T. Jefferson Coolidge, treasurer of the Amoskeag Cotton Mills, of Manchester, N, H., one of the largest industries of the kind in the world, says, regarding the shutting down of the mills, which has just been announced "We have balanced our accounts for the first six months of the year, and find that we have made no money and have not moved our goods. I have, therefore, ordered the mills closed for August at least. The dividends of the mills have been gradually reduced dur ing the last twelve years. The closing will effect about six thousand employes. It is reported from Fall River, Massachusetts, that the Wampanong Cotton mills will be closed two weeks during August. The Stevens mill shut down Saturday night for a month, and the Richard Borden mills will begin a curtailment next week. These factories employ about 1800 hands, and it is un derstood that they are short of supply of cotton. James Potta Biser, of Petersville, Frederick county, Md., has made a deed of trust. The O. D. Myer Company, retail dealers in dry goods at Cleveland, O., has given chattel mortgages aggregating $31,000. Ashley & Pierce, dealers in clothi 1g at New Bedford, Mass., have made an assignment. E. E. Schluter, Toledo, O., grocer, has given a chattel mortgage for $3,800, and has made an assignment. The Elmwood Cycle Company of New York city has assigned. Greatest of Corporations. CHICAGO, July 25.-The Post says: An dustrial e scale which will
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What Has Been Done During the Past Twelve Months. THE YEAR 1897 A BUSY ONE All of the Important Happenings the World Over Briefly Noted in Chronological Order. BUSINESS AND INDUSTRIAL NOTES Disasters of Various Kinds-Crimes, Suicides and Lynchings-A Year's Famous Dead -Political Events-Sporting BANK FAILURES. Jan 2-State savings, Whitehall, Mich Citizens' national, Fargo, N. D Omaha (Neb.) savings, $850,000. Jan Germania ($1,000,000) and West Side, St. Paul, Minn First City, Nora Springs, la Merchants' national, Devil's Lake, N. D. Jan -Commercial, Eau Claire, Wis Bank of Canton, Minn Citizens', Lanesboro, Minn. Jan 8-Bank of North St. Paul, Minn. Jan 9-First national, Alma, Neb. Jan 12-Bank of Mayview, Mo. Jan 13-Seattle (Wash.) savings. Jan 14-Merchants' national, Ocala, Fla. Jan 15-Citizens' state, Fullerton, Neb. Jan 16-Bank of Conway, Mo. Jan 18 -German national, Louisville, Ky. First national, Newport, Ky Minnesota savings, St. Paul. Jan German savings, Des Moines, 1a., $554,000. Jan 23- Upland (Ind.) bank (voluntary suspension Farmers' and Merchants' bank, Excelsior Springs, Mo. Jan 25-Pottsdam (N. Y.) national. Jan 26-First national, Olympia, Wash. Jan 29-Wautauga bank, Johnson City, Tenn. Jan 30-Dime savings, Chicago. Feb 2-First national, Oakesdale, Wash. (Ind.) (voluntary suspension) Moscow national. Feb 4-First national, Griswold, Ia. Feb 5-First national, Franklin, o Northwestern national, Great Falls, Mont., $700,000. Feb 8-State savings, Atlanta, Ca. Feb 9-Farmers' and Merchants', Freeport, Ill. (voluntary suspension). Feb 10-Bankers' exchange, Minneapolis, Minn. Feb -State trust and savings, West Superior, Wis. Commercial savings, Leeds, la Merchants national, Helena, Mont., $1,000,000. Feb 16-Merchants' national, Jacksonville, Fla State national, St. Joseph, Mo. Feb 4German-American, Tonawanda, N. Y. (Resumed March Feb -Bank of Lithonia, Ga Security Loan and Trust company, Des Moines, Ia. Commercial, Milwaukee, Wis. Feb -Mullanphy savings, St. Louis, Mo., $500,000. Mar &-Lexington savings, Baltimore. Mar 12-Bank of Mulhall, O. T. Mar 22-West Point (Ga.) state bank. Mar 123-Farmers' and Merchants', Paris, Tex. Mar 24-De Kalb county bank, Maysville, Mo. Mar 27-American exchange, Buffalo, N. Y. (voluntary suspension). Apr 5-Globe savings, Chicago, $640,000. Apr 27-N. Barnes, Son & Co., bankers, Norfolk, Va. Apr 28 Bank of Hutchinson, Kan William Van Ordstrand & Co., bankers, Heyworth, III. Apr 29 New Hampshire Banking Co., Nashua, $849,352. May 3-J. B. Wheeler & Co., bankers, Manitou and Aspen, Col. May -Exchange bank, Atkinson, Neb. Dalles (Ore.) national. May 12-Traders' Lynchburg, Va. May 19-Miners' state, Cripple Creek, Col. Belknap savings, Laconia, N. H. State May -State, Monticello, Ind Third nationnational, Logansport, Ind al, New York. May 21-First national, Orleans, Neb. May 24-Bank of Johnston, Neb. Jun 1-Merchants', Lincoln, Neb. Jun 9-Boone county, Harrison, Ark. Jun -First state, Fenton, Mich. Jun 29-Union Trust and Savings, Tacoma, Wash Keystone national, Erie, Pa. (voluntary). Jul 7-First national, Mason, Tex. Jul 14-Nebraska national, York, Neb. Jul 23-Bank of Monmouth Springs, Ark. Jul 31-First national, Asheville, N. C.,. voluntary) Aug 21- People's savings, Mount Pleasant, Mich Aug 27-Bank of Minneapolis, Minn. Aug 31-State, Ambia, Ind First state, McPherson, Kan. Sep 2-First national, Greensburg, Ind. Sep 14-Bank of Durand, III. Sep 18-First national, Benton Harbor, Mich Sep 20-Bank at Rico, Col. Sep 29-Bank at Montrose, Col. Oct 18-City, Sherman, Tex. Oct 19-Edgerton (Wis.) bank. Oct 21-Bank of Lodi, Wis Oct 22-National of Asheville, N.C. Nov 9-John A. Willard, banker at Mankato, Minn.: $480,000 Nov 13-Bank of Antigo, Wis Banks at Leavenworth, Marengo and English, Ind. Nov 16-Della county (Col.) bank. Nov 20-State bank of Holstein, Neb. Dec 2-Piedmont state, at Morgantown, N.C. Dec 13-Stock exchange, at El Reno, O. T. Dec 21-First national, Pembina, N. D. Dec 3-Chestnut Street national, and Chestnut Street Trust and Savings Fund Co., Philadelphia; $3,000,000.
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T. S. Buckingham will preach on Sunday night next on "Why the Rest Day was changed from Saturday to Sunday." Guy H. Kennedy was called last week to Erie, Pa., to assist the receiver of the Keystone National Bank at that place. His work for the Citizens' National here and the First National of Covington, Ky , has-given him a high place in the opinion of bank officials and his services are constantly in demand. He was recently offered a position in Havana, Cuba, in the largest bank in the city.
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# TRUST COMPANY NOT LIABLE. It Held Stock in a Bank That Afterward Failed. Justice Brown of the United States Supreme Court has affirmed the opinion of the United States circuit court of appeals in the case of George C. Rankin, receiver of the Keystone National Bank of Erie, Pa., against the Fidelity Insurance, Trust and Safe Deposit Company. The case involved the question of liability on the part of the trust company for shares of stock held by it and taken as collateral in a failed bank. The record in the case showed that in 1890 the company had accepted 230 shares of the stock of the bank as collateral on a note for $15,000 given by Delamater & Co. of Meadville, Pa. Afterward Delamater failed, leaving the bank stock in the hands of the trust company. Then the bank failed, and the receiver sought to collect 100 per cent on the shares from the company as the rightful owner of the stock. The court held that the company had not sought to take upon itself the statutory liability of a shareholder, and that it could not therefore be legitimately held, thus affirming the decision of the United States circuit court of appeals for the third circuit.
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SUPREME COURT DECISIONS. The Dismissal of Appraiser Shurtleff Sustained-Opinions in Banking Cases. Washington, April 6.-The United States Supreme Court to-day rendered a decision in the case of Ferdinand N. Shurtleff, formerly a member of the Board of General Appraisers at the port of NewYork, who resisted dismissal on the ground that under the law he was entitled to life tenure. He undertook to establish this claim after his dismissal by bringing action in the Court of Claims. The Court of Claims upheld the power of the Secretary of the Treasury to dismiss, and the Supreme Court affirmed that finding. The opinion of the lower court was affirmed in the case of Kaoru Yumataya, a female Japanese immigrant, against Thomas M. Fisher, immigration inspector at Seattle, Wash., and she will be deported. The woman was ordered to be deported on the strength of a report made by Fisher that she was likely to become a public charge. She attempted to secure a writ of habeas corpus on the ground that the order of deportation was in contravention of the Constitution of the United States because it was not in accordance with due process of law, and also that it was contrary to the provisions of the treaty between the United States and Japan permitting the citizens of each country to enter the other. The United States District Court for the District of Washington overruled both contentions, and to-day's opinion affirmed that opinion. Justice Brown affirmed the opinion of the United States Circuit Court of Appeals in the case of George C. Rankin, receiver of the Keystone National Bank, of Erie, Penn., against the Fidelity Insurance, Trust and Safe Deposit Company. The case involved the question of liability on the part of the trust company for shares of stock taken as collateral in a failed bank. In 1890 the company accepted 230 shares of the stock of the Keystone Bank as collateral on a note for $15,000 given by Delamater & Co., of Meadville, Penn. Afterward Delamater failed. leaving the bank stock in the hands of the trust company. Then the bank falled, and the receiver sought to collect 100 per cent on the shares from the company as the rightful owner of the stock. The court held that the company had not sought to take on itself the statutory liability of a shareholder, and it could not be held.