19016. Columbian Bank (Philadelphia, PA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: July 30, 1887
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: d5983313

Response Measures

None

Description

Contemporary articles (July 30, 1887) report the Columbian Bank closed its doors and posted notices that an assignment was to be made; assignees named S. Edwin Megargee and F. P. Kernan. Causes cited are heavy dealings/acceptances for Henry S. Ives & Co. and large advances on consignments that could not be realized — a bank-specific distress. Some reports inconsistently call it a private institution, but multiple articles explicitly call it a state institution; I report as state. No clear standalone depositor 'run' (mass withdrawal) is described as causing failure, though officers closed doors and checks were dishonored. Assignment/receivership indicates permanent closure.

Events (2)

1. July 30, 1887 Receivership

Newspaper Excerpt: At noon another notice was issued, saying that the assignment had been made to S. Edwin Megargee and F. P. Kernan, attorneys.
Source: newspapers

2. July 30, 1887 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Heavy acceptances and advances for Henry S. Ives & Co. and large advances on consigned merchandise (funds tied up and uncollectible) left the bank without funds; checks were dishonored by correspondent banks leading to suspension.
Newspaper Excerpt: The Columbian Bank closed its doors this morning and on the door a notice was posted stating that by order of the Board of Directors the bank would make an assignment.
Source: newspapers

Newspaper Articles (16)

1. July 31, 1887 New-York Tribune New York, NY

Article from New-York Tribune, July 31, 1887

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THE DECLINE IN STOCKS. ATTEMPTS TO EXCUSE THE DEPRESSION-GOSSIP ABOUT THE ABSENCE OF H. H. POWERS, The attempts to excuse the prevailing depression in the stock market on the ground of the recent collapse of the great Baltimore and Ohio deal, the financial embarrassment of a small dealer in stock privileges and the suspension of a private banking institution in Philadelphia are likely soon to be proved futile. Those persons who supposed that the proposed transfer of the control of the Baltimore and Ohio Railway to an irresponsible buyer was parailel to the purchase of the West Shore by the New-York Central are alone seriously disappointed by the ignominious end of the negotiations. The statement printed officially in Baltjmore dispatches that President Garrett declared the negotiations off because Henry S. Ives tried to sell the telegraph system to the Western Union is refuted by the simple fact that the railroad company owns the telegraph lines and that the proceeds of the sale, when completed, would have passed through the Baltimore and Ohio treasury and were applicable only to dividends on the company's stock. Whatever the plans of Mr. Ives may have been, it is colerably certain that he could not have hoped to use the money receved from the sale of the telegraph system to the Western Union to complete his purchase of therailroad property. Neither the control of the stock nor the preatical management of the company had been turned over to him. The suspension of the Columbian Bank, of Philadelphia, was announced yesterday as one of the consequences of the failure of the Baltimore and Ohio deal. It was said that the bank was obliged to suspend payment in consequence of the non pament of a draft for $10,000 OD the firm of Henry B. Ives & Co., of this city. The president of the bank was quoted in the published dispatches as saying that the refusal of the draft was due to , blunder, but whether the fault was that of the bank or the New-York firm was not made plain. The assignment by the bank yesterday after his statement that the blunder bad been corrected proved that this was not the real cause of the failure. Henry S. Ives left the city for Cincinnati on Friday evening. One of his partners said yesterday that be had gone West simply to attend to the formal retirement of the proposed issue of Cincinnati, Hamilton and Dayton Bailroad preferred stock and to other routine matters. It was denied that his visit had anything to do with the calling of

2. July 31, 1887 New-York Tribune New York, NY

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A DRAFT ON IVES NOT PAID. HOW THE COLUMBIAN BANK FAILED. HTS CONNECTION WITH THE NEW-YORK OPERATOR SAID TO HAVE HASTENED THE ASSIGNMENT. PHILADELPHIA, July 30.-The Columbian Bank closed its doors this merning, and posted a notice that by order of the Board of Directors the bank would make an assignment. At noon another notice was issued, saying that the assignment had been made to S. Edwin Megargee and F. P. Kernan, attorneys. All efforts to obtain any statement as to the amount of liabilities or the officials and bank the both futile, proved assignees declaring that they had not had time to inquire into the condition of affairs. It is believed, however. that the failure is complete. The Press says: It has been known for some days that the Columbian Bank's position was rather a precarious one and there have been several rumors as to its suspension, both here and in New-York. The cause which leads up to the difficulty is the acceptance by the Columbian Bank of the paper of Henry 8. Ives & Co., of NewYork. For some time past the bank has been doing considerable business for Messrs. Ives & Co. and recently the acceptances for them amounted to as much as $100,000 at time. This money, one of the bank officlais said on Tuesday to a Press representative, was promptly paid. We have been doing considerable business for Mr. Ives since," he continued, and we consider that we are amply secured.' The bank officials refused to state the amount of Ives's business with the bank since the payment of the $100,000, and reiterated the statement that the institution was fully protected. Other of the bank's money is tied up in advances, it 1s said, on drugs and articles of merchandise from Mexico. A gentleman in a position to know, who is not an official of the bank, said that he supposed the liabilities would be from $300,000 to $400,000, and that the persons who had made small deposits in the bank would be the chief sufferers The effect in York New-York will be to show conclusively the position of the Ives party. Ed. mund D. MeLonghlin, the counsel for the bank, said that when the Farmers and Mechanics' Bank threw out the Columbian's checks, the Columbian had $50,000 worth of securities there. Cashier Bradford said that he had gone to the Farmers and Mechanics' Bank several times during the day, inquiring whether securities that he was offering would be accepted for further accommodation. He continued: 'I was put off from time to time until the refusal was made known. It was then too late, or might have got the accommodation at Brown's or Drexel's. have $20,000 in securities now on that desk. The statement that the liabilities will be between $300,000 and $400,000 is exaggerated. The question with us is simply one of tight assets.' " President Bell, of the Farmers and Mechanics' who was asked in reference to Mr. McLaughlin's statement that the Farmers and Mechanics' Bank held $50,000 worth of the Columbian's securities when the latter's checks were thrown out, said: The securities held by us were covered by advances already made to the Columbian Bank except a small margin that we always keep. What may be coming to the Columbian Bank they will receive. am sorry, indeed, that they did not have $50 000 with na, for I would like to have helped them out. It would not have been just to the stockholders and depositors of the Farmers and Mechanics', however, for us to have carried their load. Securities were offered to us yesterday, but I did not think it wise to accept them. Our decision was made known much before 3 o'clock' Farmers the with been has dealing Columbian The and Mechanics' since it began active business nearly six years ago. The account was always considered a very satisfactory one. The Columbian generally had a handsome balance, which frequently reached $15,000 and $20,000. Lately, however, this balance has run very low, and the account has been watched by the Farmers and Mechanies' with a good deal of care. A few days ago a draft made by the Columbian Bank on Ives & Co., York, New-York, for $10,000 was not paid when presented. Mechanics' still more Farmers the made and refusal The solicitous. and careful President Phillips, of the Columbian, explained that they were well protected, that Ives had offered them any amount of excellent security and that the nonpayment of the draft was owing altogether to offer to not PIP Mechanics pur Farmers The blunder. contest this explanation, but it did not alter its policy. of line depositors, considerable has Columbian the and in addition has a branch bank, called the ColumMr. where Phillips Germantown, in Bank. bian Savings and some other gentlemen influent ally connected with the bank live. savings bank is largely patronized by mill operatives and other working people of Germanthe of general system. bank part The The savings town. but 1871, in Was issued Columbian the charter of The active business was not entered on until be ween five and six years ago. The institution is State bank, and by the terms of its charter the stockholders are apparently individually liable in double the amount of their holdings. President Phillips returned from New York last night. He had been informed of the turn of affairs by telegraph, and he spent most of the day at the office of Co. Details of the embarrassment had not been furnished him by wire, and he was only able to surmise them. He said He said that the blunder respecting the nonCo., draft that à on Ives the of $10,000 parently payment had precipitated the trouble, had been adjusted and the draft set off against the firm's account with the bank. He did not say in what the blunder consisted. said that a good deal of enmity had been shown to Ives & Co., and that there were endeavors in several directions to injure them, endeav however, he added, that had not been successful. He thought the firm was strong and solid, and said that the Columbian Bank had done great deal of business for them, amounting said knew that he He million half dollars. to at once the Farmers and Mechanics' Bank had refused two or three Western items of uls bank, but added that the Columbian had ample security deposited with the Farmers and Mechanics, beyond that drawn upon. He could not, at that moment, be said, give specifically the all with not he was as acquainted the future, for plans details of the case. He called a meeting of all the officers of the bank last night at his house for an investigation of the bank's affairs. One of the officers of the bank said the doors were closed this morning order to prevent a run of the depositors. "I think you can safely say he continued, at and the signees subsides excitement the after that have rinished their work the depositors will be paid in full. A statement will be furnished by the president on Monday If we had had fair treatment yesterday we securihad We ample ourselves talked over. have prinoo ties to cover our liabilities of resterday, but the trouble . of the notaries the just hands into got checks our i few minutes before o'clock. We do not care now to Mr. Phillips's = these securities prices. our market connection with Henry S. Ives was by no means new. of of for him with relations period had had We business over two years. and he had not been associated with or losing his of money in money several making Ives schemes." Philadelwas the bank the the in depositors Amoug organized he Club. bank present Baseball phia follows: President, Charles L. Phillips; cashier. John Steward assistant cashiers, Harper Steward and S. Bedford: directors, Charles L. Phillips, J. Brown, F. Gillig. John W. Steward, M. J. McGlynn. John P. B. The Ste capital Steward. N. John Harper Rogers, McGrath. stock was $200,000, divided into 2,000 shares, all paid in. The Columbian Bank is a private institution, with a reported capital of $200,000. It is not a member of the Philadelphia Clearing House and its clearings were made by the Farmers and Mechanics' Its principal York New-York correspondent formerly Was the American Exchange in Europe, but in the last year or two it seems hands. other 8 business the have transferred to George H. Stayner, of the firm of Henry S. Ives & Co., said yesterday that the failure of the bank was not due to any neglect on the part of the firm. We did not pay the draft for $10,000 about which so much has been said, he remarked, for the very simple reason that it had already been once paid in Philadeiphia. am sorry that the bank is in trouble of any kind, for the president has been warm friend of mine for many years. have a letter from him to day in which he contradicts the published that failure wasdue to any fault our part. This firm never borrowed money from the bank and does not owe it a cent." THE DECLINE IN STOCKS.

3. July 31, 1887 The Memphis Appeal Memphis, TN

Article from The Memphis Appeal, July 31, 1887

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THE EFFECT IN NEW YORK. Several Failures Reported-Ives Out of Town. New YORK, July 30.-The Post's financial article says: There was no definite cause assigned for the decline in prices this morning aside from the general attack which has been made on the market the past week. The managers of the attack on the market werestrengthened today by the sus pension of the Columbian Bank, of Poiladelphia, which, it is claimed. supplied a considerable proportion of the money by which Henry S. Ives has bean enabled to carry on their negotiat for some time. At the office of Henry S. Ives & Co., it was asid that Mr. Ives was not in the city. His partner, Mr. George H. Stayner, W&B in, but was too busy to ta k to newspaper reporters. It was claimed this morning by friends of Mr. Ives that the Columbian Bank wasindebred to the firm of Henry S. Ives & Co. The general belief in the street, however, is that the account stands the other way. U. D. Oameau, of No. 81 New street, a member of the Consolidated Ex. change, has failed. Two hundred shares of New York and New E g. land stock were sold for him under the rule. J.O. Helm, snother broker in the Consolidated Exchange, has failed, and 1160 shares of St. Paul and 120 shares of Lake Shore were sold out under the rule for his account. His indebtedness to the clearing house will probably not exceed $2000. Ia regard 60 Harry Powers, the Post says: Late yesterday afternoon reports were flying around that Harry H. Powere, a well known "put and call" broker on the street, was in trouble, that he would be unable to meet his contracts, and throu h that bringing down the brokerage firm of Gould & Henry. Mr. Kennsdy, of the firm of H. I Nicholas & Co., hearing the rumor in regard to Powers's statding, ca lei upon the firm for 8 deposit of 8 5 per cent. margia which he was entitled to on a 500 share con tract of the firm which he held. He could not find any member of the firm and was unable to get a check the amount. Mr. Kennedy did not care to wait, and sold the 500 shares on the Stock Exchange for the account of Gould & Henry. The price obtained was 92, and the loss on the transaction to the firm Was only $375. Gould & Henry said that the whole thing was a blunder, and that the house had not suspended and did not intend to. It was said that Powers was simply a little pressed for money and bad gone to one of his uncles, who is reputed to be worth $1,500,000, and expected to raise sufficient money to relieve the pressure. At the office of Gould & Henry this morning it was learned that Powers had not yet arrived with the money, but they were expecting him every minute. Further than that nothing would be said.

4. July 31, 1887 Fort Worth Daily Gazette Fort Worth, TX

Article from Fort Worth Daily Gazette, July 31, 1887

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BAD BANK FAILURE. The Columbian Bank of Philadelphia, a State Institution, Makes an Assignment. The Immedia'e Cause of the Failure the Tying Up of Thousands of Dollars of the Bank's Money. Small Depositors Will be the Chief Sufferers-Three Large Firms Make an Assignment at Chattanooga. PHILADELPHIA, PA., July 30 -The Columbian Bank, a state institution, closed its door this morning and on the door & notice was posted stating by order of the board of directors the bank will make an assignment to S. Edwin Megargee, and F. P. Kernan. It is believed, however, that the failure is a complete one. PHILADELPHIA, PA., July 30.-The checks of the Columbian bank were thrown out by the Farmers, and Mechanics' National Bank because of the lack of funds. It has been known for some days that the Columbian Bank was in 8 precarious condition and there have been several rumors as to its suspension, both here and in New York. For some time past the bank has been doing considerable business for Messes. Henry S. Ives & Co., and recently its acceptances for them amounted to as much as $100,000 at a time. The bank officials refused to state the amount of their business with the bank since the payment of the $100,000, and reiterated the statement that the institution was fully protected. Other money of the bank is tied up in ad vances on drugs and other articles of merchandise from Mexico, which at this time it is impossible to realize upon, and which the consignees are not able to protect. A gentleman in a position to know, who is not an official of the bank said that he supposed the liabilities would be from $300,000 to $400,000, and that the persons who had made small deposits in the bank would be the chief sufferers The trouble was apparently precipitated by the failure of Ives & Co. to honor & draft for $10,000 drawn on them by the Columbian bank. The bank has & branch savings bank in Germantown largely patronized by mill operators and other working people. IVES NOT THE CAUSE OF THE FAILURE. NEW YORK, July 30.-George Styner of the firm of H. S. Ives & Co., denies that any dealings with his firm embarrassed the Columbian bank of Philadelphia, and he states that the bank is indebted to his firm in the sum of $67,000. Ives, he says, has gone to Cincinnati to attend a railroad meeting. BIG SUM OF MONEY TIED UP. PHILADELPHIA, PA, July 30.-A gentleman who is in a position to know said to a reporter this afternoon: "The status of the affairs IS just this, when the negotiatiations for the purchase of the Baltimore and Ohio stock from Robert Garrett were in progress Ives deposited a considerable amount of money as a margin or premium, and when the negotiations were declared at an end Ives did not get his money back and Garrett went to Europe, thus leaving it tied up for some time at least. Therefore Ives was considerably crippled and was probably unable to settle with the Columbian. A solicitor for the bank states that there are probably $100,000 funds tied up in merchandise which was bought inforeign countries on letters of credit issued by the Columbian, and the bank paid the drafts attached to the bills of lading when presented. They were unable to realize on these goods, and they are now in storage. CONSOLIDATED EXCHANGE FAILURES. NEW YORK, July 30.-The Post's financial article says the attack on the market was strengthened by the suspension of the Columbian bank of Philadeiphia, which it is claimed supplied 3 considerable proportion of the money by which Henry S. Ives & Co., have been enabled to carry on their negotiations for some time. It Was claimed this morning by Ives' friends that the Columbian bank was indebted to the firm of II S Ives & Co. The general belief is that the account stands the other way. M. D. Cameau, member of the consolidated exchange, has failed. Two hundred shares of New York and New England stock were sold for him under the rule. J. C. Helm, another broker in the consolidated exchange, has failed. Eleven hundred and sixty shares of St. Paul, and 120 shares of Lake shore were sold out under the rule for his account. Late yesterday afternoon reports were fiying around that H. H. Powers was in trouble, and that he would bring down the brokorage firm of Gerald & Henry. Mr. Kennedy, of the firm of H. I. Nichols & Co., hearing the rumors in regard to Powers' standing, called upon the firm for the deposit of 5 per cent margin, which he was entitled to on 500 share contract of the firm which he held. He could not find any member of the firm, and was unable to get a check for the amount. Mr. Kennedy did not care to wait, and sold the 500 shares in the stock exchange for the account of Gerald & Henry. The price obtained was 92, and the loss on the transaction to the firm was only $375. Gerald & Henry said that the whole thing was a blunder, and that the house had not suspended and did not intend to. It was said that Powers was simply little pressed for money and had gone

5. July 31, 1887 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 31, 1887

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WOUND UP. The Philadelphia Columbian Bank Shuts Its Doors. NO STATEMENT OBTAINABLE. A Liberal Victory-Ordered to Rome -Blaine and Sherman-B. & O. -Yellow Fever - Etc. Bank Burst. PHILADELPHIA, July 30.-The Columbian Bank, a state institution, closed its doors this morning and on one door a notice was posted stating that by order of the directors the bank would make an assignment for the benefit of creditors. t noon another notice was issued, saying the assignment was made to Edwin McGargee and F. P. Kernan, two attorneys. All efforts to obtains as to the amount liassets proved statement abilities or futile, of the both dethe bank officials and the assignees claring that they had not time to inquire into the condition, of affairs as yet. It is believed, however, the fail ure is a complete one. President Bell, of the Farmers' and Mechanics Bank, with which the Columbia has kept an account for several years, stated that checks of the latter were dishonored, because they had no money to their credit, and furthermore had no securities OL deposit, as was claimed by the Columbian's officers. Mr. Bell said the securities referred to consisted of checks and drafts on outside banks, and that the Farmers' and Me chants' would not accept them except for collection, and if they proved good the money would be paid, but nothing would be advanced. It is understood from reliable sources that the chief causes of the failure were advances made on the Ires-Stayner party of New York, and advances on consignments of merchandise shipped from South America and other points, which were not taken up by the consignees, thus leavA ing the bank in a crippled condition. partial statement of the assets and lia bilities is promised for this afternoon, although it is doubtful if anything very definite will be learned before a thorough examination is made and this will consume considerable time. The failure caused some excitement in the city, although among financial men it was not much of a surprise. NEW YORK, July 30.-The Post's financial article says: There was no definite cause assigned for the decline in this morning, aside from the attack which has on the past week. general the prices market been The made manof this attack on the were by the strengthened agers suspension market which of the Columbian Bank of Philadelphia, it a of the money proportión is claimed, supplied considerable by which S. Ives & to on their enabled Henry carry Company office negotiations of where Ives time. At the & it was said, was in His partner, for Company, some the city. Ives John not H. was in, but too It this morning Stayner. was claimed busy by Bank to friends talk. of Ives that the Columbia was indebted to Ives & Company. The general belief on the street is that the account stands the other way. 2.30 p.m., it was stated by officials that they would not issue a statement to-day, it being impossible to get the matter in shape to do it. Among the bank's assets are bonds and stocks put down at 133,000, but their market value is very doubtful. A gentleman who is in a position to know said, this after noon: The status of the affair is just this When negotiations for the purchase of the Baltimore & Ohio stock from Robert Garrett were in progress, Ives deposited a considerable amount of money, as a margin, and when the ne gotiations were declared at an end Ives did not get his money back, and Garrett went to Europe, thus leaving it tied for some time at least. Therefore, Ives was somewhat crippled and probably unable to settle with the Columbian.' H. NEW YORK, July 30.-George Stayner, of Ives & Co., denies that any dealings with his firm embarrassed the Columbian Bank, and he says that the to his firm in the sum of he says. bank $65,000. is indebted Ives, has gone to Cincinnati to attend a railroad meeting.

6. August 2, 1887 New-York Tribune New York, NY

Article from New-York Tribune, August 2, 1887

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ANXIOUS TO REOPEN COLUMBIAN BANK. PHILADELPHIA, Aug. 1 (Special).-The creditors of the collapsed Columbian Bank desire that a meeting should be held. One of the heaviest creditors, a stockholder, said to-day: "We have assets that we cannot realize upon immediately without serious loss. If a forced sale is made, we are bound to lose money; but, even in that event, we have capital enough to settle with our creditors. My idea is to call all our depositors together, explain our position thoroughly and ask them for their confidence and their promise not to draw too heavily upon us, and if they agree to this, as I am sure they will, we will make out all right." Another stockholder said: " If there are no technical or legal objections in th e way. we shall certainly resume in a day or so on a new basis. The affairs of the bank can be adjusted. Our credit is not impaired. We owed barely $5,000 to the Philadelphia banks when the crash came, for we had very recently made some large clearances." President Phillips declares that the statements of the bank's dealings with Ives & Co., of New-York, are greatly exaggerated and says that the assignment was due to a temporary lack of funds in Philadelphia. He says the assets will fully meet the liabilities, which cannot possibly be more than $300,000, but that many of the assets are of such a nature that a forced sale would be ruinous.

7. August 2, 1887 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, August 2, 1887

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The Broken Columbia Bank. (By telegraph to the Dispatch.) PHILADELHHIA, August 1.-Nothing new has transpired in connection with the failure of the Columbia Bank and no statement has as yet been issued. President Phillips déclares that the statements of the bank's dealings with Ives & Co., of New York, are greatly exaggerated, and says that the assignment was wholly due to temporary lack of funds in Philadelphia. He says the assets will fully meet the liabilities, which cannot possibly be more than $3,000,000. But many of the assets are of such a nature that a forced sale would be ruin. The assignees have done nothing yet beyond notifying the holders of securities and other creditors that the affair is now in their hands. This evening President Charles L. Phillips, of the suspended Columbian Bank, authorized the publication of the following statement of the financial condition of that institution Liabilities to depositors: Savings-fund depositors, Germantown, $76,636.96 savings-fund depositors, Philadelphia, $62,389.37 banking depositors, $127,574.99; certificates of deposit, $12,000-total, $278,901.33. Assets : Loans, $153,347.49; advances on merchandise, $125,000; bonds and stocks, $132,000; mortgages and ground-rents, $51,655.06; cash due from correspondents, etc., $16,898.77-total, $478,901.32. By this showing the assets are about $200,000 in excess of the liabilities, which is exactly the amount of the stock of Columbian Bank.

8. August 3, 1887 Butte Semi-Weekly Miner Butte, MT

Article from Butte Semi-Weekly Miner, August 3, 1887

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New York Stock Exchange in a The State of Unwarranted Excitement. How the Closing of a Philadelphia Bank Affected Great Interests. No Mention is Made of the Losses Sustained by the Gullible Depositors. PHILADELPHIA, July 30 The Columbian Bank, a state institution. closed its doors morning and on the door notice posted stating that by order of the board of directors the bank would make an 88 signment for the benefit of its creditors. At noon another notice was issued saying assignment had been made to S. Edwin Megargee and F. P Kernan. twoattorneys. All efforts to obtain any statement as to the amount of the liabilities or assets proved futile. Beth the bank officials and the assignees declaring that they had not time inquire into the condition of affairs as yet. It believed. however the failure complete one. President Bell of the Farmers and Mechanics Bank. with whom the Columbian has kept an account several years, stated that the checks of latter were dishonored they had money to their credit and furthe had no securities on dep sit. claimed by the Columbian's officials. Mr Bell said t securities referred to consisted of checks and drafts on outside banks, and that the Farmers and Mechanies them except except not wou d collection, and they proved good the money would be paid. but nothing would reliafrom understood advanc able sources that the chief causes of the the to made heavy were failure Ives-Stay or party of New York, and ad vances on consignments of merchandise shipped from South America and other points which were not take up by the consignees, thus leaving the bank in crippled condition. A partial statement of assets and liabilities is promised for this afternoon, although very doubtful if any ex thing can be learned before thorough amination made, and this will consume consider ble time. The failure caused some excitement in the city although among financial men it was not much of surprise SLIM CHANCES. PHILADELPHIA. July 30 2:30 it was stated by theofficials that they wouldissue no statement to-day, it beingan impossible matter to do it. Among the bank's assets are b nds and stock put down at $133,000, but their market value is very doubtful. IVES co. DENY. NEW YORK, July 30.-Geo. H. Staynor of Ives & Co. denies any dealing of his firm with theembarrassed Columbian bank and he says that the bank is indebted to his firm in the sum of $65,000. Ives. he says, basgone to Cincinnati to attend arailroad meeting. The firm of Gould. Henry & Powers brokers settled the claim H. a difference in of Nichols on account transaction of Lake Shore, but the claims of the holders of puts and calls have not ren settled. Powers did not appear at and his brokers of to-day the office although admitted he is embarrassed hisfriends claim he will settle with every one in full PANIC IN NEW YORK. NEW YORK, July 30.-The selling yester day which caused heavy liquidation in the alternoon, developed into a panic at the opening of the exchange this morning and stocks were sold at any sacrifice, the only object of brokers seeming to be the closing of accounts of ruined speculators. The the non-apof decline cause greatest pearance of Harry Powers, who took the place Russell Sage as the leading writer of privileges on the street His business At tocks their calls was large. and operators held his puts and against security no the office of Gould & Henry, who do most business of stock exchange Powers statement could be obtained although one of the attaches admitted that embarrassed but would probably com all right and settle everything in full. There be he need no suspension to-day even though is bankrupt. as the ball holiday prevents any stocks being put to him to-day DOWN THEY WENT. NEW YORK, July 30.-The news of the non-appearance of Powers caused the of fering of stocks in such volumes that prices began a rapid decline, which was only limited by the fact that no cash he could realized from any sales made to hour: day. Reading fell five per cent in the first Northwest, 3% St Paul 21/2; Missouri Pacific 21: Canada Southern 3% Rich mond Terminal, 21/2 and Western Union 2% THE MARKET WEAK. NEW YORK, July 30.-Noon The stock market continued extremely active after 11 a.m and the fluctuations were exceptionally violent. Prices remained weak tral and Canada Southern lost 2 1/2, Jersey Crn and Northwestern 1% in the first 15 minutes. This was followed by rebound, Canada and Northwestern quickly rose 21. New 21/3 CenEngland 21/2 Reading 2, Jersey and Lackawana Southern tral market and Louisville Nashville 1% and the The amounts. der smaller remai tied then showed less activity but slowly set end. down and remained feverish to the PRESS OPINIONS. NEW YORK July 30 -The Post's finan cialarticle save There was no definite cause assigned for the decline in prices this morning, aside from the general attack which has been made on the market the past week. The managers of this attack on the market strengthened by the suspension of the Columbian Bank Philadelphia which, it is claimed. supplied to enabled were Co. Ives which considerable proport of the money 8. Henry carry on their iations for some time of Ives Co. it said that At the office Ives was not in the eity. His partner George to talk H Staynor. was in, but too busy the It claimed this morning by bank friends of Ives that the Columbiar general was indebted Ives Co. Th belief in the street is that the ac count stands the other way HUNTING FOR POWERS NEW YORK, July 30 -Regarding Har Fowers the Post says: Late yesterds afternoon reporte were flying around tha Harry H. Powers. the well known put an call be broker was in trouble, that he woul unable to meet his contracts of through that bring down he brokerage fir firm Gould & Henry. Mr Kennedy, of th H. Nicholas & Co., hearing th rumor in regard to Powers' standing called cent upon the firm for a deposit of which firm of the 500 margin. which was entitled contract He held. firm and could not find any member of amout was unable to get check for sold the Kennedy did not care to wait an T 500 shares on the stock exchar the price account of Gould & Henry obtained was 92 and the loss to't only $375. Gou

9. August 4, 1887 The Austin Weekly Statesman Austin, TX

Article from The Austin Weekly Statesman, August 4, 1887

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MORE BANK EMBARRASSMENT. A Philadelphia Institution Finds Itself Among the Breakers. Philadelphia, July 30 The checks of the Columbian bank were thrown out by the Farmers' and Mechanics' National bank because of the lack of funds. It had been known for some days that the Columbian bank was in a precarious condition, and there had been several rumors as to its suspension, both here and in New York. For some time past the bank has been doing considerable business for Messrs. Henry S. Ives & Co., and recently its acceptance for them amounted to as much as $1,000,000. At the time the bank officials refused to state the amount of the Ives business with the bank since payment of $1,000,000, and reiterated the statement that the institution was fully protected. Other money of the bank is tied up in advances on drugs and articles of merchandise from Mexico, which, at this time, it is impossible to realize upon, and which consignees are not able to protect. A gentleman in a position to know, who is not an official of the bank, said that he supposed the liabilities would be from $3,000,000 to $4,000,000, and that persons who had made small deposits in the bank would be the chief sufferers. The trouble wasapparently precipitated by the failure of Ives & Co. to honor a draft for $10,000, drawn on them by the Columbian bank. The bank has a branch savings bank in Germantown largely patronized by mill operatives and other working people. DENIES IT. d NEW YORK, July 30.-George Staynor, of the firm of H.S. Ives & Co., denies that any dealings with his firm damaged the d Columbia bank of Philadelphia, and he r states that the bank 18 indebted to his firm in the sum of $67,000. Ives, he says, has e gone to Cincinnati to attend a railroad d meeting there. y A gentleman, who is in a position to know, said to a reporier this afternoon. "The status of the affair is just thiswhen negotiations for the purchase of the Baltimore & Ohio stock from Robert Garn rett were in progress, Ives deposited a considerable amount of money as a 0 margin, or premium, and when the negotiations were declared at an end, Ives did S e not get his money back, and Garett went to Europe, thus leaving it tied up for some time at least. Therefore, Ives was cony d siderably crippled, and was probably unable to settle with the Columbian solicitor e for the bank. e " He states there are probably $1,000,000 in funds tied up in merchandise, which r. o was bought in foreign counties on letters of credit issued by the Columbian, and the o bank paid the drafts attached to bills of lading, when presented. They were un1. able to realize on these goods, and they S are now in storage. e

10. August 5, 1887 Burlington Weekly Free Press Burlington, VT

Article from Burlington Weekly Free Press, August 5, 1887

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$300,000 TO $400,000 SAID TO BE THE LIABILITIES OF THE COLUMBIAN BANK. A Philadelphia Institution Brought to Grief Through Business with Ives & C. Small Depositors the Chief Sufferers. PHILADELPHIA, July 30.-The checks of the Columbian bank of Chestnut street were yesterday thrown out by the Farmers and Mechanics' bank because of a lack of funds. The officials refused either to confirm or deny the report or to make any statement whatever. President Bell, of the Farmers and Mechanics' National bank, made the following statement: "The Columbian bank's checks are refused because they had no money here." It has been known for some days that the Columbian bank's position was rather a precarious one and there have been several rumors as to its suspension, both here and in New York. The cause which leads up to the difficulty is the acceptance by the Columbian bank of the paper of Henry S. Ives & Co., of New York. For some time past the bank has been doing considerable business for Messrs. Ives & Co. and recently the acceptances for them amounted to as much as $100,000 at a time. This money, one of the bank officials said recently, was promptly paid. "We have been doing considerable business for Mr. Ives since," he continued, "and we consider that we are amply secured." The bank officials refused to state the amount of Ives' business with the bank since the payment of the $100,000, and reiterated the statement that the institution was fully protected. Other of the bank's money is tied up in advances, it is said, on drugs and articles of merchandise from Mexico, which at this time it is impossible to realize upon. The condition of the bank was brought to public notice by the fact that a number of checks which came to several national banks in this city were sent around to the Columbian bank for payment. As usual, checks on the Farmers and Mechanics' bank were given for the amounts of these checks by the cashier of the Columbian bank, and these checks, it was found on presentation at the Farmers and Mechanics' bank, were not good. The effect of the embarrassment and the amount involved are difficult to ascertain. A gentleman in a position to know, who is not an official of the bank, said that he supposed the liabilities would be from $800,000 to $400,000, and that the persons who had made small deposits in the bank would be the chief sufferers. Later-A notice has been issued saying that assignment has been made to S. Edwin Megargee and F. P. Kernan, two attorneys. All efforts to obtain any statement as to the amount of liabilities or assets proved futile.

11. August 6, 1887 New-York Tribune New York, NY

Article from New-York Tribune, August 6, 1887

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TELEGRAPHIC NOTES. REORGANIZING THE COLUMBIAN BANK. PHILADELPHIA, Aug. 5 (Special).-President Philips, of the suspended Columbian Bank. said to-day that the largest of the institution's creditors are subscribing to reorganize it as a National bank. The smaller creditors, he said, do not represent $20,000. DEATH OF A BRAVE ENGINEER PITTSBURG, Aug. 5 (Special).-Frank Kirkpatrick, an engineer of the Pennsylvania Railroad. is dead. A few years ago when Mrs. Carnegie, mother of Andrew Carnegie, was injured in & wreck Kirkpatrick tenderly cared for her, and to his efforts she owed her life. For this Andrew Carnegie pre sented him with a $1,000 4 per cent Government bond. ALABAMA'S FIRST BALE OF COTTON. SELMA. Aug. 5 (Special).-Alabama's first bale of cotton was received here to-day by Hooper & Co., cotton commission merchants, from B. L. Allen, of Newbern, and was sold to Partridge & Co. for 124 cents per pound. It weighed 440 pounds and classed as strict low middling. HIS YOUNG WIFE GIVEN BACK TO HIM. PHILADELPHIA, Aug. 5 (Special).-The habeas corpus suit brought by John W. Rogers against his father-in-law, the Rev. John T. Swindells, to recover the custody of his young wife, Margaret Elizabeth Rogers, was to-day disposed of by Judge Brogy, who made an order reuniting them. Thev laft the courtroom arm-in-arm. HURT IN A COLLISION OF TRAINS. GREENFIELD, Mass., Aug. 6.-As an accommodation train on the Fitchburg Railroad, heavily loaded with employes of the Turners Falls Catlery Company, was passing around a curve about a mile east of this place this morning it ran into the tender of the engine of a construction train on the main track. The accommodation train's engine was badly damaged and two of the passengers were hurt. They are "Chris" Luipold and Jacob Sauer. The former was injured seriously about the head and the latter's leg was broken He was also hurt internally. SHOT DEAD BY AN OFFICER RISING SCN. Ind., Aug. 3.-Marshal James W. Kyle, of Patriot, Ind., attempted to arrest "Pat" Lampkin on Wed. nesday night. but Lampkin resisted and fired a shot at the officer, when the area and killed Lampkin instantly

12. August 8, 1887 New-York Tribune New York, NY

Article from New-York Tribune, August 8, 1887

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MONEY AND BUSINESS. Liquidation made further progress last week; at San Francisco in the bursting of the wheat ring and the suspension of the Board; at Philadelphia in the stoppage of the Columbian Bank, and at New-York and Cincinnati in the exposure of Ives & Co. and their relations with railroads. The California wheat ring, according to reports telegraphed, had taken contracts for 1,050,000 tons of wheat, held 250,000 in Liverpool unsold, and 200,000 on the way thither, and was demanding $2 15 per cental for the same stuff in San Francisco which was selling in Liverpool for to $170 last week. The chance for a rattling loss somewhere seems to be favorable. As the clique appears to have used up in buying more wheat the money deposited by sellers, the Board stopped operations in the hope that somebody able to meet a deficit of $9 per ton might come to the front. Whether large amounts of money shipped by New-York banks to San Francisco last week will serve to "restore confidence" remains to be seen. The Wall Street and other people who spent several months in telling the world what a vastly important arrangement Ives had certainly completed," and how much it would bless the entire universe, must feel some desire to hunt holes and pull the holes in after them, in the light of disclosures at Cincinnati. No substantial foundation appears for the negotiation from which such wonderful things were expected, and on the strength of which wise men hoisted prices for months. The mysterious and tremendously powerful combination of capitalists behind Mr. Ives seems to have been a key to the treasury of the Cincinnati, Hamilton and Dayton, and power to hypothecate securities for which that company would like to receive some money, It is not strange that investors display some willingness to keep out of a market which hangs half a year on such an operator in a twitter of delighted expectation. Last week stocks advanced an average of $1 77 per share, with indications at times of foreign buying. It is stated that £101,000 was taken from the Bank of England for this country, a movement which only some operation in stocks could have warranted. The bank advanced its rate to 3 per cent, with the evident purpose of stopping a larger flow hither. There is nothing in commercial returns to warrant gold imports at present. The exports of merch ndise for the past five weeks have been 61-2 per cent below those of last year, and the imports 71-2 per cent above those of last year, which would point to a large excess of imports in July. The stock of unsold California wheat in Liverpool and on the way tends to check shipments for the present, as does the accumulation in Atlantio ports. Latest advices are not satisfactory as to the harvesting of wheat or the injury sustained by corn from drouth, and this month even the cotton crop seems to have suffered some One of the polite invitations of bullish spiders to speculative flies affirms that the farmers have not had such crops for years before, railroads are rushed with traffic, manufacturers are driven hard and conservatism has never ruled SO far as it does now in American business affairs." No one expects the wheat or corn crop to reach that of last year, and both were far below the maximum hay, fruit and tobacco are short, and cotton and oats only have been expected to return full yield. The railroads are SO " rushed" that East-bound shipments from Chicago are less than 30,000 tons weekly, though the same roads have carried over 90,000. The manufacturers are so "driven" that the product of iron is about 25 per cent smaller than May 1; the spinners have taken of cotton in forty-nine weeks 48,000 bales less than for the previous year, and the consumption of wool, with a much smaller domestic yield, has required 15,000,000 pounds less from abroad than last year. As for the ruling conservatism," the Harper, Ives and Mackay speculations which have ripened, and the far greater real estate speculation which has not yet ripened, illustrate the meaning of the word. The banks began to report declining reserves last Saturday, but lost only $1,200,000 of their surplus. The Treasury took in at points $2,300,000 more gold than it paid out, while putting out $100,000 silver and $600,000 legal tenders. Secretary Fairchild's order is criticised as affecting the sentiment of the Street rather than the actual supply of money, but a statement from the Department showed an increase of $77,507,183 in the circulation outside of the Treasury

13. August 11, 1887 New-York Tribune New York, NY

Article from New-York Tribune, August 11, 1887

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TELEGRAPHIC NOTES. DIVIDING A SCHOOL ON THE LIQUOR QUESTION. NASHVILLE Tenn., Aug. 10.-Willis Mc Dearmon, a school teacher near Babattia, Jacks n County. found his schoolhouse surrounded by a mob yesterday morning who reaused him admission on the ground that he was a Prohibitionist. Me Dearmon opened another schoolhouse The anti. prohibitionists installed a new teacher and pupils divided according to parents' views on the question. ATTACHMENTS ON THE FIDELITY BANK. PITTSBURG, Aug. 10.-In the Common Pleas Court. No. 2, to-day A. W. Kittridge, counsel for the defunet Fidelity Bank of Cincinuati, presented a petition asking that the at tachment issued al the instance of the Daquesne Bank and Farmers and Mechanics' Bank, of this city, and the National Bank of New. Brighton, Penn., on funds in the Fidelity Bank be dissolved. The court grauted a rule on defendants to show cause why the motion should not be granted. The amount involved is said to be about $200,000. A COSTLY CITY GOVERNMENT. PHILADELPHIA, Aug. 10 (Special) - The money asked by the heads of the different city departn nts 10 run their respective offices during 1888 loots up $17,820,288 10. This 18 an excess of $7,996,488 06 over 1887. The Public Buildings Commission. have K in charge the erection of the new City Hall, ask for $714,450 more for next year than it received this year. The demand is considered exorbitant. APPOINTED APPRAISERS OF ASSETS. PHILADELPHIA, Aug. 10 (Special).-James W. Latta. Clandius B. Linn and H. H. Ellis were to-day appointed appraisers of the assets of the suspended Columbian Bank. STEALING THE FUNDS OF A SOCIETY. PHILADELPHIA. Aug. 10 (Special).--Charles A. Wentworth secretary of the Emeraid Building Association, was committerl to-day by Judge Lennon. in default of $1,800 ball, for alleged embeaslement of $400 of the funds of the society.

14. August 11, 1887 New-York Tribune New York, NY

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ATTACHMENTS ON THE FIDELITY BANK. PITTSBURG, Aug. 10.-In the Common Pleas Court. No. 2, to-day A. W. Kittridge, counsel for the defunet Fidelity Bank of Cincinuati, presented a petition asking that the at tachment issued al the instance of the Daquesne Bank and Farmers and Mechanics' Bank, of this city, and the National Bank of New.Brighton, Penn., on funds in the Fidelity Bank be dissolved. The court grauted a rule on defendants to show cause why the motion should not be granted. The amount involved is said to be about $200,000. A COSTLY CITY GOVERNMENT. PHILADELPHIA, Aug. 10 (Special). - The money asked by the heads of the different city departn nts 10 run their respective offices during 1888 loots up $17,820,288 10. This 18 an excess of $7,996,488 06 over 1887. The Public Buildings Commission. have K in charge the erection of the new City Hall, ask for $714,450 more for next year than it received this year. The demand is considered exorbitant. APPOINTED APPRAISERS OF ASSETS. PHILADELPHIA, Aug. 10 (Special).-James W. Latta. Clandius B. Linn and H. H. Ellis were to-day appointed appraisers of the assets of the suspended Columbian Bank. STEALING THE FUNDS OF A SOCIETY. 10 A. Westworth

15. August 17, 1887 New-York Tribune New York, NY

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THE COLUMBIAN BANK FAILURE. STORIES OF IRREGULARITIES IN ITS AFFAIESPRESIDENT PHILLIPS'S TRANSACTIONS PHILADELPHIA, Aug. 16.-The Evening Telegraph this a'ternoon devotes considerable space to an arti le on the affairs of the suspended Columbian Bank, from which the following is an extract: The failure of the Columbian Bank has given birth to some Telly my rn nors of alleged irregularities. and to some talk of possible prosecutions The all its of the bank are still in state of chaos. The assignees are trying to get some light on its buriness methods. Their investigations have -hown that it was very careleasly managed. and that a large portion of its 245618 consist 01 merchandise which has little, 11 any, Belliz a State bank. the law required auto value. scriptions to be paid in money and not in promissory notes It made the stockholders via 10 for twice the amonet of their stock The charge 18 now made that Presi eut Philips se. cured Co trol of the stock by issuing shares to bimeen and other members of his family or relatives whom be could tep. resent It said that in payment for a portion of the stock he gave promissory notes instead of money. and that when failure was innoment these notes were withdra ND and unil 1700 to raise money and securities which have a certain face R value but are prietically worthleas were substituted addition to this, it is said that the day before the failure . transler of the sto k held by Lawyer John 1. Rogers was marie to and accepted by President Phill. relieving Mr. Rogers of the liability attaching to him as a aloc kholder an i translerries it to Mr. Philips. It 18 also charged that al. though the transfer took place the day before the failure it ears emother date. AB interview was had with Lawyer Rogers and he devotes considera le of his statement to an explanation of the pecuHar business method, of the bank of which he (Rogers) did not approve, and which finally in iniced him to withdraw from the board of directors. As to the transier of his stock Mr. Rogers was that he got some stock from Mr. hillips on cer. tain conditions and trans errel 11 back to him in pursuance of those c nutions, but he declined to say anything as to the time of making the TABSTER but declares that if he is still hante on the stock in question he will not shirk the responsibills do not think," said Rozers, in conclusion, "that Mr. Philips has been gailty of any wrong. He may have made mis akes- the best of 118 do 80 at times-and he may not have been as good a business man as others. but his inten. tions were good. He was anthusiastic on this business of advancing money on were andise shipped from abroad and thought there was a great deal of money in 11. The trouble was that the bank 1. aned the monev on some one else's valu. attea. which was not always right, and although there was good margin. still when an attempt was made to seil the goods it W. sometimes to und that they would not yieid the amount of the drafts, an sometimes that they could not be sold at all. Tnus the bank. beginning some years back, accu. mulated a lot of stuff and finally hail to give in. There was a good profit in the business of course. when there was any print at all, as the 08 k got interest on the money for sixty days, in addition to a commission; but you see where the trouble was."

16. October 9, 1887 The Sun New York, NY

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tivity, and energy. J. K. Virtue, first baseman of the Canton Club of the Ohio League, the team that didn't win the championship, but was as strong or stronger than the champions, joined the club on Thursday morning, and will finish the season at first base. Toy will be re- leased to make room for him. Virtue was a star in the Ohio League class, and may hold his own in the Association. Toy has done the Cleveland Club good service in all positions, but will never be more than a mechanical fielder, and is a very uneven and weak hitter. Your correspondent would like, as a matter of news, to tell the plans of the Cleveland Club for next season; but they would be turned awry by publication. Suffice it to say, Cleveland will have as good a team as can be secured next season, and it will play its home games on im- proved and very handsome grounds. The team will, in all probability, gather at Atlanta or Macon, Ga., early in April, get into condi- tion, and play games with any Northern team that comes along—if any come. Then it will go into the Association fight in condition, and maybe it will not be last. The games to be played after the season will be with Indianapo- lis and Pittsburgh certain, and perhaps with Chicago and Cincinnati, the latter Sunday games, if at all. It is now probable that the second game of the St. Louis-Detroit world's championship series will be played here next Tuesday in- stead of at Chicago. The last games of the season by the Cleveland Club are as follows: At Indianapolis—Oct. 11, 12, 13; with India- napolis Oct. 14, 15. This series of games is for "tail-end" honors. At Cincinnati—Oct. 16, 17, 18; with Pittsburgh Oct. 19, 20. At Pittsburgh Oct. 21, 22. ### GLASSCOCK TALKS. INDIANAPOLIS, Oct.8.--Glasscock declares em- phatically that he will not play ball in Indian- apolis next year. He wants to be traded to Chicago or Detroit. He says: "It might as well be understood right now that I am not satisfied to play ball in Indianapolis. I never was and never will be. I won't play here again next year, no matter what may happen. I will quit the business first. I have never been treated right here, and have been a mark for almost everybody. I have errors given to me when I wouldn't have got them in any other place in the country, and in spite of the fact that I have played the best ball I ever played, my record is away down. Another thing, there are men in this club I don't speak to and never will. I am dissatisfied here, and it would be better all round for them to trade me off. I know they can get Pfeffer for me. Anson and I talked it over the other day, and I think they can get Sam Thompson for me, and they had better take one of them. Either of them is a more valuable man to this club than I am, and would get along better. A lot of papers lately have quoted me as saying I was satisfied here. It isn't so." It is known to a few people that Glasscock asked President Brush to release him, but there is little probability of this being done. ### BASE BALL NOTES. The League schedule ended yesterday. The League championship season has ended. A glorious wind-up for Harry Wright's team. Esterbrook would look well on Brooklyn's third base. Cuban Giants and Baltimores at West Farms to-day. Brooklyn's reserve list will be rather small this season. Dan O'Leary would make a live manager for the Indians. There will be a rise in the stock of the Brooklyn Club before long. Baldwin has caught fifty-one consecutive games for Cincinnati. Manager Fogel has done much to improve the India- napolis Club. Now for a first-class manager for the Indians and they may be a success. The Brooklyn and Metropolitan Clubs will play at Ridgewood to-day. Digby Bell—Go to the Polo grounds? No, that club is dead to the world. Boston is willing to spend $30,000 for a team to win the pennant next season. The other day Umpire Connelly fined Ramsey $50 for questioning his decisions. It is probable that the League will go back to the per- centage system next season. The American Association clubs have until the 17th to play off postponed games. Director Gordon.—The New Yorks will play better next year, and don't you forget it. Jones or Hogan, and possibly both, will be released by the Metropolitan Club this fall. It is probable that one of the world's championship games will be played at Buffalo. To-morrow one of the New York teams will play at Trenton and the other at Nyack. There will be many changes in the different League and Association clubs next season. Indifferent base running, sleepy fielding, and childish batting lost the game to Philadelphia. St. Louis will have all the chance they want to sell Caruthers and Bushong to the Brooklyn Club. Curry, Ferguson, McQuade, and Gaffney will probably be the Association umpires next season. The salaries of Ganzel, Twitchell, and Thompson of the Detroit Club will be increased next season. Umpire Valentine will have a benefit at Indianapolis. He will captain and pitch for one of the nines. Cincinnati has a wonderful pitcher in Smith. He shows improvement with every game he pitches. If the scheme develops, the Jersey City Club will be a strong one next season, and it will be successful, too. The Cleveland Club has engaged Harkman P. Ober- lander, the left-handed pitcher of the Scranton Club. Capt. Swartwood of the Brooklyn Club says that three years is long enough for any player to stay with a team. Purcell's work as captain of the Baltimores is excel- lent. He does no loud coaching, and offends no one with his remarks. Had Mullane not been laid off by the Cincinnati Club earlier in the season, they would now have been close on to first place. As far as the New York and Brooklyn Clubs are con- cerned, the trouble over the world's championship games has been settled. It has just been learned that New York and Chicago by virtue of the percentage system with Detroit made a net return of $10,000 to the latter. But little of the late success of the Metropolitans is due to the training of Lynch. If the club needed a train- er, why not give Holbert the place? Hudson has reported in St. Louis for duty, and is now practising daily. If he shows up well he will have a chance in the world championship series. Mike Kelly, when asked the other day if he would play in Boston next season, said: "Well, I guess not. I'm no use to them, and they had better let me go." So large a number of exhibition games have been ar- ranged by the League and Association clubs this fall that the snow will fly before they are all played. The manner in which the League clubs have been instructed not to make known who they reserve, would indicate that they have begun against the Brotherhood. Indianapolis will have a winning team next year. Manager Fogel is now consummating several deals, which will bring four or five of the best players in the country here. Reports from San Francisco say that the New York Club will be met with a royal reception on their arrival out there. Director Appleton, who is now out there, pre- dicts a brilliant success for the club. There have been not a few whispered conversations among Association and League managers lately, and it would not be surprising if the Association would join issues against the combination of ball players. Manager John Kelly of the Louisville Club has signed a contract to umpire the St. Louis-Detroit world cham- pionship series. He will be assisted by Umpire Gaffney of the League, who will stand back of second base. There is not much harmony among the Baltimore players. Kilroy and Burns had a war of words on Tues- day. Tucker and Greenwood had a spat on Wednesday Barnie evidently has his hands full in keeping peace in his base ball family. Kansas City, Denver, and Omaha are probably the only clubs in the Western League that will end the sea- son financially ahead. Even Topeka, with a winning but expensive team, is said to be far behind. The stock- holders' profit will consist of glory alone. Umpire Valentine had an expensive experience the other night, says the Boston Herald. He had evidently been out with the boys, as he didn't show up at the hotel until about 4 o'clock in the morning, and then he left his room door open. When he woke up he found himself minus $200, which some sneak thief had appro- priated while he slept. Many stories are told by the Metropolitan players about Sadie Houck. During the short time he was with that club he made a great name for himself as an Indian. Sadie had a diamond ring, and it was his delight when stopping at a hotel to cut his name on the window glass with his diamond. At one hotel he stopped at with the club he destroyed several window panes. The Philadelphia Club was in the collapse of the Co- lumbian bank, and has about $7,500 tied up in the insti- tution, with poor prospects of obtaining more than one- fourth of the sum. John I. Rodgers, one of the proprie- tors of the club, was a director of the institution. One result of the failure was a suit brought recently by John S. Stevens against the club and John I. Rodgers, on a two months' note for $5,000, dated July 5, 1887. President Stearns of the Detroit Club says: "This talk about the oppressed, down-trodden ball player is all rot. The ball player has a firm grip on the big end of the situation, and he knows it. If he had any real grievances there would be some sense in a brotherhood, conferences, &c. When the enormous salaries and gen- erally fine treatment of ball players are considered, it is quite refreshing to hear any of them prating about op-