Article Text
Bank Suspension. PHILADELPHIA, December 10.-The Fourth National Bank suspended today. This is its second failure within a few years.
19050. Fourth National Bank (Philadelphia, PA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 286
- Charter Number
- 286
- Start Date
- December 19, 1871
- Location
- Philadelphia, Pennsylvania (39.952, -75.164)
Metadata
- Model
- gpt-5-mini
- Short Digest
060f2fc1
Response Measures
None
Description
Contemporary dispatches (Dec 19–20, 1871) report the Fourth National Bank of Philadelphia was suspended by the Clearing House and its affairs placed in the hands of a receiver (Henry Perkins). Reports attribute the suspension to mismanagement/overextension and heavy overdrafts by officials; no contemporaneous article describes a depositor run as the proximate cause. Thus the sequence is suspension followed by receivership/closure.
Events (2)
1.
December 19, 1871
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Suspended by the Clearing House due to alleged mismanagement, over-extension (too heavy business for capital), and large improper overdrafts by officers/directors; withdrawal of city funds may have hastened suspension.
- Newspaper Excerpt
- PHILADELPHIA, December 19.-The Fourth National Bank suspended from the Clearing House to-day.
- Source
- newspapers
2.
December 20, 1871
Receivership
- Newspaper Excerpt
- The affairs of the Fourth National Bank have been placed in the hands of a receiver. Henry Perkins has been appointed receiver of the Fourth National Bank, closed by the action of the clearing-house.
- Source
- newspapers
Newspaper Articles (22)
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MISCELLANEOUS Baker Dying-Seward Surplus Not Sick- VanBishop Bank stock and Nominaished-Kentucky National Schooner Mensatorial WreckedTelegraphing tion-A British Stopped by Storm-Geor- OpposiElection for Governor-No to a gia Robbers Hanged tion-Express at Chicago-ResignaTree-Small-pox in the Ontario Government-C'hal- Match. tions Row n Single Sculling C. leuge to December 19.-Rev. Oswan Baker. CONCORD. bishop of the Methodist Episcopal Church. is dying. December 19.-The report of Seward's AUBURN sickness is untrue. Fourth PHILADELPHIA, December been placed 19.-The in the hands National Bank has It is thought the deposits. but the of a receiver. to $500,000, will vanished. be paid. amounting stock FRANKFORT, and surplus Steprenson Ky., have December succeeded, 19.Mc- in has the Creevy. whom to succeed Davis been United nominated States Senate by the Democratic caueus. WEST, December -The wrecked British on KEY E. H. Brown was Captain Riding schooner Rock. Vessel a total loss. the dead. December 19.-A storm thirty-six on plains OMAHA. stopped telegraphing for hours. December 19.-The unexpired election term today AUGUSTA, for Governor B. Bullock. to fill was the the quietest 1000 votes ever of Rufus Georgia. Only about all for held in in Richmond county- took no were polled Smith. The Republicans in the State James M. the election. The vote opposition part in 200,000. There being it/is no believed to that about the not Democratic more than candidate, 60,000 votes have been polled in the State. December 19.-The few express days MEMPHIS were captured a taken from robbers Verona, who Missouri, were by a dissince in Union City last night the jail guised the jail mob, at and hanged to a tree in yard. December 19.-The immigrants. small-pox is CHICAGO, It is mostly among 19.-On the increasing. TORONTO, Ontario, December to-day, after some opening business of the House, had been disposed govern- of, the routine general stated that his not longer attorney a diverse vote, could successment, after the government their resigexpect and to carry that they on had placed lieutenant govfully, in the hands of the same. They nations who had accepted the are aponly ernor. hold office till their successors pointed. N. B., December 19.-Robert challenged ST. JOHN, the Paris crew, has of Fulton, of the champion sculler match George Halifax, Brown, to row a single Nova sculling Scotia, on the at and Digby, $1500. a first Annapolie of June, 1872, for $1000 19.-Last to night MEMPHIS, December lurking around the building robbers man was City seen in which the express by at Union On being approached and Policeman were confined. Kline he started to run, was pursued by turned and fired. in the The The depot man joined The officer. shot in the shoulder. and was subsequently derer pursued was the officer. Before captured daylight killing chase mur- this and the under guard. men about thirty Farrington. the guard, took the express of the a hanging an placed powered morning The robber, body and killed disguised Levi murderer to murderer over- tree. was found away. after daylight, Sealer, from Kentucky. His name was Report. Weather War DEPARTMENT, Office Chief Signal Officer, 7:30 P.M.) Washington, December 19, 1871, HOURS. OF THE PAST TWENTY-FOUR which was, SYNOPSIS of low barometer MassachuThe area afternoon, central over beyond our Monday has moved northeast short time setts bay, and was followed for a which stations, weather. A disturbance atternoon by clear existing Monday apparently was indicated Southwest, has northeast, in the extreme through Kentucky north the barometer, passed producing a rapid by snow fall from in Tennessee it to is accompanied and New England. where continues Michigan The temperature Iowa and still anowing. low and is still falling from from very to Wyoming. The show reports that a Wisconsin received to-day Monday, California storm prevailed there on has severe abated. The barometer stabut has rapidly now at the Rocky Mountain tions risen as far as heard from. PROBABILITIES. will The northeast into distarbance on the Pacific Montana, coast and probably barometer pass and rising Rocky temperature Mounfalling Wednesday at the north of Misprevail The high barometer pressure. tains. moves east with diminished prevail west of he Apalachian range. souri and cold northwest winds Cloudy weather, [CONTINUED ON EIGHTE PAGE.
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SPARKS FROM THE WIRES. -Small-pox is spreading in Jersey City, Hoboken, Newark and Trenton. -The report of ex-Secretary Seward's sickness Is untrue. -Wm. M. Tweed has sold the Metropolitan Hotel to a couple of railroad ticket agents. -The Pacinc Railroad trains move slowly, and are forty-eight to ninety hours behind. -The small-pox reports from Brooklyn are unfavorable, and it is spreading in all directions. -John C. Heenan is connected with the New York voucher robbery. and an order has been sent to England for his arrest. -The Rev. Osman C. Baker, bishop of the Methodist Episcopal Church in New Hampshire. is dying. -The grand jury in New York have indicted Hank Smith, Republican, and James M. Sweeney for complicity in the ring frauds. -William Beust having saved a wife and seven children from a burning house in New York yesterday, perished with the eighth child. -At a meeting of the Federal Council of the Internationalis: held in New York on Monday night, the Crispin, Typographical and Jewellers' Unions affiliated with them, and became a part of the Internationals. -The Fourth National Bank of Philadelphia has been placed in the hands of a receiver. It is thought that the deposits amounting to a half million will be paid, but the stock and surplus have vanished.
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LATEST BY TELEGRAPH. FOREIGN NEWS BY THE CABLE. Miscellaneous and Washington News. HOME NEWS. OLIVE LOGAN MARRIED. Internationalist Organization Growing. NEW YORK, Dec. 19.-Small pox is spreading in Jersey City, Hoboken, Newark and Trenton. At a meeting of the Federal command of the Internationalists last night, the Crispin Typographical and the Jewelers' Unions affiliated with them and became a part of the Internationalists. William Boust, having saved his wife and seven of his children from a burning house, perished in the flames in attempting to save the eighth. Wm. M. Tweed has sold the Metropolitan Hotel to a couple of railroad ticket agents. John C. Heenan is connected with the voucher robbery. An order has been sent to England for his arrest. The small pox reports from Brooklyn are unfavorable. It is spreading in all directions. Wirt Sykes was married to Miss Olive Logan to-day. The Grand Jury indicted Hank Smith, Republican, and James M. Sweeney, for Ring frauds. CONCORD, Dec. 19. -Rev. Osman C. Baker, Bishop of the Methodist Episcopal Church, is dying. AUBURN, Dec. 19. - The report of Seward's sickness is untrue. PHILADELPHIA, Dec. 19. - The Fourth National Bank has been placed in the hands of a receiver. It is thought that the deposits can be paid, but the stock and surplus have vanished. FRANKFORT, Dec. 19,-Senator McCreery is at home Stephenson has succeeded in obtaining the nomination to succeed Davis in the United States Senate, by means of a Democratic calcus. OMAHA, Dec. 19.-The Pacific trains move slowly, being 38 hours behind time.
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General Summary. Market Reports. we [Reported Expressly for the ABGUS.] w WASHINGTON Dec. 19. -Senate In to day's session, Mr. Morrill, of Vermout, reported the House bill appropriating $4,000,000 for public buildings in Chicago, and asked its immediate cousid eration. a to stock for Mr. gambling Edmunds introduced by public officers, bill and punish other It or employes ing or fine in purposes. stocks of the bonds, government prohibits under from penalty all officers speculat- of and imprisonment. Mr. Conkling moved to take up his resolution directing the committee on retrenchment to inquire into the Schurz charges against the New York custom house. Mr. Schurz offered and amendment to the pending bill, specifying numerous alleged abuses and frauds in the New York custom house as special objects of inquiry. The resolution was then adopted unanimously. Mr. Summer moved to take up the resolution offered by him last May, calling on the of the Navy for information about number of on the coasts San since Secretary the of Domingo ships acquisition employed the of begining Sama of negotiations for the na Bay, with the cost of sending and keep ing them there. said that whenever this information should be obtained he would moveto refer it to the committee on retrench ment: [Laughter.] Mr. Patterson, referring to a recent artiele in the New York Times, criticising in severe terms the former committee on retrenchment, of which Mr. Patterson was chairman, denied the truth of the statements, and defended the action of that committee. Mr. Blair offered a resolution. which was adopted, directing the committee on retrenchment to inquire whether any Minister of the United States. in any foreign country, is in company 18 his official its interests: and, so, of using engaged any pasiton mining for if the whether promotion and it is compatible with his duties as such Minister. The resolution of the committee on elec tions, declaring Mr. Norwood entitled to a seat in the Senate from Georgia, was agre ed to, and Norwood was sworn in. CHICAGO, Dec. 19.-Gregoria Peare, who killed men in his saloon on the day of the fire was murfirst and to states great the two degree to-day convicted sentenced of prison. The small-pox is on the increase in the city LONDON, Dec. 19.-A Paris special says French has received the folfrom the of the corena attests lowing specturum the government eelipse expedition: the the "The existence of matter in the space beyond at mosphere of the sun. PHILADELPHIA, Dec. 19 Henry Perkins has been receiver the National amount appointed Bank Its deposits of Fourth to be tween and which, it is d but the and disbelieved, $500,000 surplus will be paid capital $600,000, during stock the have month, of appeared under the mismanagement its officers. NEW YORK, Dec. 19.-A Herald special 8 states that the Bishop of Londonderry denounced the proclamation forbidding the in his sermon OD d formed and on to procession procession attacted Sunday. attempting by The of marob the cathedral was the A fight ensued, several was hurt, but $8 military. to persons excitement the during procession which finally dispersed. Great and re more fighting is expected. is LOUISVILLE. Ky, Dec. 19.-Hon. T. C. le McCreery, States nominated ly Kentucky, late was United Frankfort by the Senator Democrat last from io legislative caucus at night ly to succeed Garrett Davis. A AUGUSTA, Ga, Dec. 19.-Milton Smith w was to ry fill team Democrat, the unexpired elected of Governor Governor to-day, Bullock store of Castle & in de P stroyed was QUINCY, by Dec. fire Co, this 19.-The this morning. city, was extensive entirely valued at $93,000-insured for $54,000. LISBON, Dec. 19.-The press of the city show much anxiety over the largely increas st, ed emigration of workmen to the United 8. States and recommend that measures b taken to prevent further increase. g NEN YORK, Dec. 19.-A Madrid lette dy states that Gen. Sickles received secret or 11 ders to return to Washington immediatel s, for consultation on an important state C k, public matters. is CITY OF MEXICO, Dec. 11.-Auarch throughout Mexico, and the com y increase. m ed. North Amercan ser es plications continues A The Juarista are alarm protectorate is onl discussed. Foreigners say for the country g salvation ously will be placing the or under the Ameriean flag. r, PARIS, Dec. 19.-Due D'Aumale an Prince de Joinville took seats in the Nation
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Bank Suspension. PHILADELPHIA, December. 19.-The Fourth National Bank suspended from the Clearing House to-day. This is the second failure within a few years.
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Bank Failure. PHILADELPHIA, December 20: - The affairs of the Fourth National Bank have been placed in the hands of a receiver. The cause of the suspension is supposed to have been a too heavy business for the extent of the capital and too liberal accommodation. It is reported that a member of the city council has been permitted to overdraw his account to the amount of $60,000. The tax receiver of this city loses $54,000 on deposit in the bank.
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Telegraph News in General.) Manchester, 19. The republican ward caucuses have been held to elect delegates to the State council in the senatorial and county conventions. The city sends 38 delegates to the State convention at Concord, January 3d. Hartford, 19. The Orient Fire Insurance Company organized to-day with C. T. Webster President, and Geo. W. Lester, Secretary. The machinery of the old City Company is to be applied to the new company, of which there is $500,000 capital. Philadelphia, 19. Henry Perkins has been appointed receiver of the Fourth National Bank closed by the action of the clearing house. The deposits amount to between $500,000 to $600,000, which it is believed will be paid, but the surplus and capital stock have vanished under the management of the officers. The withdrawal of the city funds by the new treasury has probably hastened the suspension of the bank. The building has been transferred to one of the securities within sixty days, and the transfer is believed to be bogus. Toronto, Canada. 19. In the House today the Attorney General stated the ministry had placed their resignations in the hands of the Lieut. Governor, who accepted them. St. John, N. B., 19. Robert Fulton of the Paris crew has challenged Geo. Brown, the champion sculler of Halifax to row a single scull July 1st, for $1000 to $1500. Chicago, 19. Policeman Hinckley of the second Precint was attacked to-day with hydrophobia and is in a critical condition. He was bitten about two years and a half ago. Small pox is on the increase mostly among emigrants.
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France. THE ORLEANS PRINCES AND THE ASSEMBLY. PARIS, December 19.-There has been a heated discussion in the Assembly over the question of the seating of the Orleans Princes. Des Jardins moved the restoration of the Princes to all their rights. The Deputies of the Left violently opposed this, but finally the motion, which avoids all advice or responsibility, was passed with but two dissenting votes. Later.--The Duke d'Aumale and the Prince De Joinville took their seats in the Assembly to-day. They sat in the centre of the members of the Right. Their appearance creates no sensation in the body. A bill has been introduced providing for the release of Communist prisoners who held no rank. Telegraphic Summary. Rev. Osman C. Baker, bishop of the Methodist Episcopal Church at Concord, N. H., was in a dying condition last night. A dispatch from Auburn states that the reports of Seward's sickness are untrue. A Democratic caucus of the Kentucky Legislature has nominated McCreery to succeed Davis in the United States Senate, The Fourth National Bank of Philadelphia has been placed in the hands of a receiver. It is thought that the deposits will be paid, but the stock and surplus have vanished. The small-pox in Chicago is on the increase, mostly among emigrants,
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Items. The Hon. Joseph Medill, in answer to an inquiry as to his reason for requesting a military force in Chicago during the days succeeding the fire, says he signed the petition asking for troops because the immense quantity of stores collected could not be protected by local forces, inasmuch as the city in reality did not own the stores, and to a great extent the Government did. The next annual reunion of the members of the New Hampshire Veterans' Union, consisting of the officers of all regiments of the State who served in the late war, will take place in Manchester on the 16th of January next. The citizens of Manchester will provide a dinner for the members of the Association on the occasion, and it is proposed to give a grand ball in the evening. "It is said that Wm. M. Tweed has no desire to enter the Kingdom of Heaven since he has read Rev. xiv., 2, and learned that there will be Harpers there. At a meeting of the King's County Supervisors Tuesday to elect a keeper for the Brooklyn Penitentiary, Harman, (rep.) charged that $38,000 a year were paid to political strikers, appointed as Court officers, for political services. Mr. Johnson (rep.) stated that $500 were offered a Supervisor to vote for the "Ring" candidate. Mayor Kalbfleish was for taking up the charge of bribery, but the election was proceeded with and the "Ring" candidate was elected. On a witness in the Ku-Klux trials at Columbia,S.C., remarking that he had been taxed in a Klan in Georgia to contribute to the order, Mr. Reverdy Johnson asked what was the purpose of the assessment. The witness replied that he understood it was to pay the gentleman and his colleagues; whereupon Mr. Johnson, nothing abashed, told him he was glad he contributed to SO worthy an object. The last New York swindle exposed is that of the collector of assessments who has pocketed half a million or dollars in a few years. The present incumbent, one Starkweather, Goverernor Hoffman's father-in-law, was appointed by Tweed in 1867. The Ontario ministry have tendered their resignations. The grand jury of Jersey City has commenced the investigation of the Fisk-Mansfield case. The Fourth National Bank of Philadelphia, has been put into the hands of a receiver. Capt. Carle of schooner Columbia, of Bangor, was accidentally drowned Tuesday evening in Boston. Connolly is reported quite sick in the Ludlow st. jail. Peter B. Sweeney left New York Monday morning, and it is generally believed that he has fled to avoid arrest. Miss Holt, aged 16 years, was outraged and murdered by some unknown person near Nashville, Hampstead county, Ark., Monday. Thos. Hurst, of Brooklyn, was assassinated last night by three men, and his pockets rifled of $10. He was found in a dying condition. The dispatch published yesterday from San Fraucisco, stating that the Commerical Union Assurance Company of London was about to retire, paying fifty per cent. of its liabilities, is promptly denied. The President has nominated John B. Hay, consul general at Beirut. The bark Rosetta Ann of Sunderland for New York was spoken Dec. 13th, short of provisions, and supplied by the bark Hattie G. Hall, now at Boston.
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NATIONAL BANK MISMANAGEMENT IN PHILADELPITTA. - Philadelphia, December 19.Henry Perkins has been appointed receiver of the Fourth National Bank, closed to-day by the action of the clearing-house. The deposits amount to between $500,000 and $600,000, which, it is believed, will be paid, but the surplus and capital stock have vanished under the mismanagement of the officers. The bank was in trouble two years ago, but was tided over. It is feared that the city will suffer, as several heads of departments had city funds deposited there. Two of the directors of the bank were named as sureties of the new city treasurer. During the investigation of the committee of the councils it was discovered that the bank building bad been transferred to one of the sureties within sixty days, and the transfer is believed to be bogus. No funds of the city treasurer were in the bank, having been recently withdrawn on the new city treasurer taking possession. This withdrawal probably hastened the suspension of the bank.
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E The Fourth National Bank of Philadelphia has suspended. INTERESTING MASONIC INCIDENT.-Last P
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Financial. WASHINGTON, December 19.-The Chief Justice of the Sapreine Court of the United States to -day ann une ed to the bar that opinions on legal tender cases will be read at an early day after recess, and that the delivery of these had been postponed at the request of a minority. NEW YORK, December 19.-The receiver of the Ocean Bank denies that there IS any connection between that institution and the Fourth National Bank of Philadelphia. PHILADELPHIA, December 19.-H. Perkins has been appointed receiver of the Fourth National Bank, which was closed by the action of the Clearing House. The deposits amounted to between five and six hundred thousand dollars, which it is believed will be paid, but the surplus and capital stock have vanished. Under mismanagement of the officers the bank was iu trouble two years ago. No funds of the City Treasurer were in this bank, having recently been withdrawa on the new City Treasurer taking possession. This withdrawal probably hastened the suspension of the bank. During the investigation of the Committee of Councils, it was discovered thot the bank building had been transferred to one of the sureties within sixty days, and the transfer is believed to be bogue.
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Delaware State Journal. I MONDAY MORNING, DECEMBER 25, 1871. AMERICAN NEWS. D Wirt Sykes was married to Olive Logan Dec. 19th New York. Mexico wants to negotiate a new loan at E Washington. Sir Edward Thornton has returned from England to Washington. On Dec. 19th. The Senate Finance Com. mittee decided that the national banks are not required to pay a tax upon their diviC dends Irr the last five months of 1870. A delegation of Cuban ladies from New York called on the President on Tuesday T in reference to Caban affairs. The Fourth National Bank at Philadelphia has suspended payment. Compulsory Education was debated at the Board of Public Education Philadelphia, by a Legislative delegation. In the U. S. Senate Dec. 19th a petition I om Richard H. Garrett, of Caroline county Virginia, was presented asking compensation, to the amount of $2,525 for his barn and good°, destroyed by colonel Baker to effect the capture of John Wilkes Booth and D.C. Harrold, in 1863. Booth and Har. rold were concealed in Garrett's barn which was destroyed by fire in order to get them. Returns to the Census Bureau for the year ending in June show the cash value of farms and agricultural implements throughout the country to be $9,598,667.992. The stcamboat fare from Baltimore to Richn oud is $2; to Petersburg, $2,50. Recently, over 9,000 pounds of dressed fowls were received in Norfolk, Va, in one day. Orchilla, a mass extensively found in Lower California is superceeding cochineal in the art of dying. The Lower California Colonization Company, a party of Americans, have had troubj le in Mexico about their land claims and a number of settlers have fled to Sau Diego, California, for safety. Small pox is spreading in Chicago. By the new Congressional apportionment' Pennsylvania will have 26 Representatives and New York, 89 for the next ten years. A large number of English Criminals have lately arrived at New York. James M. Smith, Democrat, WHS elected Governor of Georgin, Dec. 19 h, to fill the unexpired term of the last Governor-Bul. lock The Canadian Dominion Ministry have resigned Compulsory education has been adopted at Rio Janeiro. Ex-Senator McCreery was nominated by the Democratic Legislative caucus of Kentucky, Monday, succeed Senator Davia. The people of Prattville Ala., are agitaling the subject of a railroad from that place some point on the North and South road, perhaps Elmore Station. Pennsylvania has a State debt of $28,980, 071,73. The Morgan Line of steamers between Mobile and New Orleans has stopped run. nlog. The survey of Etowal river from Coaters: ville to Rome, Ga., is soon to be commenced by United Stater Engineer Walter McFarland. The Mobile Cotton Exchange has elected N. H. Brown, President. At Princess Anne, Md., last Friday snow fell twelve and a baltinches thick on a ley. el. Capt. Trimble, 84 years old, was badly injured last Saturday by a railroad train backing while he was walking on the track. Railread freights belween New York and New Orleana have advancad. The Mobile Cotton Market is buoyant. Merera E & C. Stokes of Philadelphia maintain direct trade with India. The Barnet House, Cincinnati is to b made eight stories high and have four low ere. the Maryland Legislature meeta Janu ary 3d. next. A Salisbury, Md, hog, one year oi weighing 512 pounds recently slaughtered Five hundred copies of the Mobile Boar of Trade Report, are being printed. < The three Secret Masked Societies Mobile makes New Years Parade. The Norfolk, Va. Paid Fire Department is composed of forty members besides of CGTS
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EASTERN NEWS. The Fourth National Bank of Philadelphia has suspended and its affairs are being wound up. Butler of Mas-achusetts has introduced a resolution in Congress declaring the right of women to vote under the Fourteenth Amendment. The last Tammany thief exposed is Starkweather, Collector of Assesqments, who has pocketed $500,000 in four years. He was appointed by Tweed in 1867. Stevenson of Ohio has introduced in Congressa bill to preveut the appointment of dishonest and incompetent Government officials, making the officers appointing and the members of Congress recommending them responsible for their misconduet. The Brooklynites fear that. the small pox has become as prevalent there as it has in Philadelphia. The disease is spreading in Jersey City, Hoboken, Newark ! and Trenton, and special hospitals for patients are being assigned in those places. Thos. McCreery, late United States Senator from Kentucky, has been re-elected to that position to succeed garrulous Garrett Davis, whose term will soon expire. Blair of Michigan has introduced in Congress a bill to legalize polygamous marriages in Utah, and dismiss all the criminal proceedings instituted against the polygamists. The house adopted a resolution directing a committee to inquire into the whole subject connected with Utah, and fix a day for a general debate. A bill has been introduced in Congress which incorporates John F. Miller, William G. Fargo, Paul Shafford, Percy McDowell and others, as Commissioners of two ocean telegraphs, one from the western coast of the United States to China and Japan, and the other from the Atlantic coast to Europe by way of the Bermudas and the Azores, or by any other way that may be approved by the President. The stock of the Atlantic company is fixed at $12,000,000, and the Pacific at $8,000,000. The Salt Lake Review (Gentile) has this paragraph: The Mormon leaders want Utah admitted as a 5 State. We have no desire, under the present unsettled state of affairs. Utah needs considerable reconstruction before it should take its place as a State. The Ku Klux of the South are good citizens compared 1 with the lawless leaders of the , Priesthood in this country. Their antagonism to our laws and free institutions is too apparent, both by S words and deeds, to be misconstrued. First let them learn the duty of loyal citizens, and then it 1 will be time enough to admit them as a State. f Cameron is the oldest Senator, e and Spencer, of Alabama, the youngest. In Taunton, Mass., a man was fined six dollars for spitting on a church carpet. S
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CORRUITED AND PLUNDIRED PHILADELPHIA How John Melloy, Receiver of Taxes. Got Rich. Correspondence of The Sun. PHILADELPHIA, Sept. 19.-For some time past our Reformer Association have been engazed in an attempt to unearth the mysterious operations of John Melley, who in 1888 and 1869 occupied the office of Receiver of Taxes for the period of eleven months. until he was ousted in a contest with "honest" Dick Peltz. The investigating committee, however, thus far have not made any progress, except to prefer a general charge of corruption against Melley, and to prevent the City Comptroller from releasing his securities. By means of bribes paid to certain members of the Councils Melloy has 8 ceeeded in inducing the City Fathers to give their consent to release his bondsmen, and thus the matter stands at present. Where the committee stuck your correspondent began. and the result of his invest gations shows that previous to Melloy's nomination for Receiver of Texas he was the owner of two small houses which were mortgaged almost to their full value. He wasthen. and is still, engaged in the tin business on Market street. At that time, however, he did not own the store in which he sells tinware, and he was so poor that he was obliged to borrow money to pay his political assessments and all expenses attending his election. When Melloy entered his office at least two of his sureties were officers of the Fourth National Bank, an Institution controlled by speculating politicians, and always considered unsafe by business men. Melloy made his deposits in this institution, and when he placed his checks in tr hands of Peirsol, then City Treasurer, that official receipted for them as so much on account when paid. During the time Melloy was Receiver of Taxes the bank failed. Subsequently to this failure he made a deposit of $240.000 of city funds in the defunet institution and 11. that way the United States Examiner Callender, was enable to make a report which led to the reopening of the bank. At the expiration of eleven months Melloy was ousted. as above stated. in a contest with Peltz. No less than $10,000 was spent by each of the contestants in the struggle for the place, whi h is a salaried one. paying legitimately $2,500 per year. At that time there were also some perquiites to be made by the Receiver in the collection of delinquent taxes: but Melloy had virsuously pledged himself before the public to pay that percentage into the city treasury. When he went out of office, after his short term of eleven months, he had on deposit in the Fourth there National Bank $99,000, which remained over eighteen months afterward. during which time 11.18 alleged the interest accruing on was between of the bank sum flicers and divided Melloy, one the it certain newspaper proprietor. The trio then had a quarrel concerning the division of the $109,000. a d the upshot of it was that the principal without intérest. was paid into the city treasury through the present Receiver of Taxes, Robert Beatty. During the time Melloy held office. over $23,000 who it is alleged by burglars. broke were open stolen. an ordinary fireproof vault in the Receiver's office: and as a matter of course the amount had to be paid to the city by Melloy or his a poor man can months to show out what of fat make sureties. in eleven Now, a good office in this city, it is only necessary to show what that man is worth 10-day
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curity, or as collateral security, for any loan of money, or for a consideration shall agreeAto withhold the same from use, or shall offer or receive the custod or promise of custody of such notes as security, or as collateral security or consideration, for any lloan of money." 5th of April last the Controller was advised that bank On the in the City of New-York, with a capital of $1,000,000, a and whose average exchanges at the Clearinghouse did not exceed $300,000, was that morning creditor at the Clearing-house for $4,770,000. A8 it was evident that this large credit was not the result of legitimate business, the examiner was directed to make an exam ination of the bank, which was immediately done, 114 connection with a member of the Clearing-house committee. From the examination, which was thoroughly and carefully conducted, it appeared that deposits had been made in that bank, by one individual, upon the morning of April 5 to the amount of $4,100,000, the whole of which was drawn out upon the same day, upon the checks of the depositor, in legal-tender notes. The president of the bank denied that the bank had any interest in these trans actions, and there was no evidence of any loan, or of ad. vances in any shape. upon these deposits. These traus actions were the subject, subsequently, of an investiga tion by the Bank Committee of the House of Represent tarives, and, although it was clear that the spirit of the law had been violated, no evidence could be obtained to warrant the commencement of a suit for the recovery of the penalty prescribed in the act referred to. The in vestigation undoubtedly had the effect to prevent the repetition of similar transactions; no offenses of this been kind, on the part of any national bank, having since brought to the attention of the Controller. The New-York Clearing house Association subse quently passed a resolution declaring "that the Clearinghouse Committee be and is hereby directed, whenever it appears, in its judgment, that legal-tender notes have been withdrawn from use through the agency of any bank, members of the association, to make an immediate examination of the bank in question, and should there appear to be complicity on the part of the bank or its officials, to suspend said bank from the Clearing house until action of the association shall be taken there on." The withdrawal of currency for illegitimate purposes has, however, since been accomplished without the assistance of the banks. The rigid enforcement of the resolution of the Clearing-house will prevent complicity on the part of banks in such transactions; and it the New-York Stock Board and the leading banking houses will unite with the Clearing-house, and refuse to transact business with unserupulous men. who do not hesitate to embarrass legitimate business for the parpose of increasing or diminishing the values of stocks or bonds in which they are temporarily interested, they can do more to prevent such operations team any Congress enactment. INSOLVENT BANKS. Twenty-one national banks, organized in 11 different States, with an aggregate capital of $1,236,100, have failed since the organization of the system in 1863 The total circulation of these banks was $2,942,793. of which $2,441,430 has been redeemed in full, leaving a belance still outstanding of $501,363, which will also be redeemed, upon presentation to the Treasurer of the United States, from the avails of United States bonds held as security for that purpose. Of these banks, five have been finally closed (two during the past year), baying paid dividends to their ereditors. Six national banks have fatted during the past year. New-York: Of these, the Union Square National Bank, the Fourth National Bank, Philadelphia, and the Waverley National Bank, New-York, have paid their creditors in full-a settlement, it is believed, without a precedent prior to the establishment of the national system. The Eighth National Bank, New-York, has paid dividend of 50 per cent; the Ocean National Bank, New-York, a dividend of 70 per cent; and the receiver of the Ocean National Bank, and of the First National Bank of Fort Smith, Ark., estimate that the creditors of both these banks will últimately receive a dividend of 100 cents on the dollar. The Venango National Bank of Franklin, Penn.: the Merchants' National Bank of Washington. D. C. the First National Bank of Selma, Ala., and the First National Bank of New-Orleans, were United States depositories. e-final dividend in favor of the creditors of the First National Bank of Vicksburg has been unexpectedly delayed by the recent presentation of a claim of the United States for money alleged to have been illegally deposited by the Collector of Internal Revenue of that district, in the year 1868. Since that time no lesses have occurred to the Government by deposits made in the national banks, although many millions of dollars have been continually on deposit with banks which are designated as depositories. The three a first-named banks, at the time of their failure, had large amount of Government funds on deposit. SURPLUS AND SPECIE-EXTENDING THE LIMIT OF SURPLUS. The law requires that every national bank shall carry one-tenth part of its profits to surplus-fund account before the declaration of a dividend, until the same shall amount to 20 per cent of its capital stock. This wise provision has been generally observed. and the returns show that the banks now have a surplus of more than $100,000,000, and considerably more than onefifth of their capital in surplus account. The act also limits the liabilities of any association, person, com pany, or corporation, for money borrowed, to one-tenth of the capital stock paid in. The Controller recommends that this limit be extended to one-tenth of the capital and surplu. which will have a tendency to 10. crease the surplus fund beyond the limit required by the law. The following table will exhibit the aggregate amount of specie held by the national banks at the dates mentioned, the coin, coin certificates, and checks payable coin held by the national banks of the City of New York being stated separately. The country banks have not heretofore separated coin in their reports: -Held NationalsBanks in New- City.-
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Of these banks, the Union Square National Bank, New York; the Fourth National Bank, Philadelphia, and the Waverly National Bank, New York, have paid their creditors in full, a settlement, it is believed, without precedent prior to the establishment of the national system. The Eighth National Bank, New York, has paid a dividend of 50 per cent; the Ocean National Bank, New York, a dividend of 70 per cent; and the receivers of the Ocean National Bank, and of the First National Bank of Fort Smith, Arkansas, estimate that the creditors of both of these banks will ultimately receive a dividend of 100 cents on the dollar. The remaining ten National Banks which have failed are as follows:
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THE COURTS. TRIAL OF CALLENDAR. EVIDENCE FROM VARIOUS SOURCES. At the resumption yesterday in the United States Circuit Court of the trial of ex-Bank-Examiner Charles Callendar for accepting a bribe for reporting favorably upon the condition of the Ocean National Bank, Edward Wolcott, a clerklin the office of the Controller of the Currency, produced certified copies of Callendar's reports upon the condition of the following banks in this city Union Square National Bank, American National Bank, Atlantic National Bank, and the Commonwealth National Bank. These reports were favorable to the banks, and, as they either failed or went into liquidation soon after they were made, Mr. Purdy claimed that they were 'blackmailing reports, or false reports, for the making of which Callendar received bribes." T. O. Edaugh, who is also a clerk in the office of the Controller of the Currency, produced Callendar's report upon the condition of the Fourth National Bank of Philadelphia, and his reports upon the condition of the following banks in this city: Continental National Bank, First National Bank, Third National Bank, Mechanics' National' Bank. National Currency Bank, Central National Bank, Ninth National Bank, Metropolitan National Bank, Broadway National Bank. None of these banks have failed, and only one of them, the Fourth National Bank of Philadelphia, went into liquidation. Mr. Purdy introduced the reports referred to only in connection with the fact that Callendar had borrowed money from the banks reported upon and the allegation that he had threatened to m ake unfavorable reports if the mony he wanted were not loaned to him. Mr. Stevenson, who was President of the Ocean National Bank when it failed. repeated his testimony to the effect that Callendar's first transaction with that bank took place in January, 1868; that the bank's reserve fund was not up to the standard on Oct. 3, 1871, and that to raise it to the required amount Callendar's checks for about $50,000 were counted as legal tenders. The recently-published matter of Callendar's indebtedness to the Ocean National Bank was again considered, but nothing was elicited from the witness, except that, as was claimed, the bank had, on Oct. 3, 1871, loaned Conant, Wild & Co. about $100,000 more than it had any right to loan, and that, at that time, it had $112,000 in Portage Lake bonds, and $100,000 in Decatur, Sullivan and Mattoon bonds. Au examination of the statement-book of the bank corroborated National Bank-Examiner Meigs's testimony that it was insolvent by over $1,000.000, and that it had on hand when it failed about $1,811,450 in unavailable bonds, stocks, and notes. It is claimed by the prosecution that the bank had that amount in such bonds, stocks, and notes on hand for two years before it failed, and that Callendar knew it when he reported that the bank was in a prosperous' condition. It also appeared that the unavailable paper referred to was supposed to be good security where money was loaned on it, and that since the failure of the bank over $152,000 worth of it had been paid. It was further shown from the books, that between July and October, 1871, the business of the bank had increased to the extent of $30,000, and ex-Judge Fullerton remarked that such increase corroborated Callendar's statement that the bank was in a prosperous condition. Isaao H. Bailey, the Receiver of the Common wealth National Bank. testified that he found in that bank notes showing that Callendar owed It about $30,000, and that the notes were indorsed by Wild, Avery & Conant, and Callendar, but that Callendar appeared as the borrower. The Court then adjourned till to-day, when Frank L. Taintor, who is serving out a term of seven years' imprisonment for embezzling the funds of the Atlantic National Bank, will be a witness for the prosecution.
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MacMohon is warmly devoted to the ExEmpress, and his Cabinet selected by himself, was unquestionably chosen with the view of a restoration of the late Emperor's son to the throne of France. The Delaware peach crop promises to be the largest ever-grown Callender, the late Government bank Examiner was a liberal borrower from the savings bank. He borrowed $70,000 from the Ocean National of Brooklyn, on securities worth no more than the price per pound of old paper. Soon after the Fourth National of Philadelphia loaned him, in the most princely manner, $120,000 on securities no less valuable than the others. The Fourth National had failed three times previous to loaning this sum to Callender, and, when immediately thereafter Aleck Cummings made a run upon it another suspension took place from which it can never recover. The jury in the Callender case failed to convict, on the ground that the $70,000 loan was a commercial transaction, and were not given him for the purpose of influencing a report favorable to the bank, for no report was made by Callender concerning this bank after the money was loaned him, therefore the jury could not convict. THE CIVIL RIGHTS BILL. President Grant maks no concealment of his opposition to the Civil Rights Bill as it passed the Senate, and if it reaches him in that condition he will veto it. Vice President Wilson attributes the President's hostility to the measure to a desire to please Southern Conservatives, and to the influence exerted over him by Wade Hampton, in whose opinion on Southern politics, Grant has unlimited confidence. General Hampton has informed the President that public schools for the education of colored children are maintained at the public expense throughout every Southern state and the Civil Right bills which will compel the admission of colored children to all schools will result in destroying the school system in many of the States. Mr Hampton believes that an Executive veto 'ot the bill, should it pass, will socure for President Grant the irrevocable support of the states of Delaware, Maryland the two Virginias, Georgia, North Carolina, Tennessee, Kentucky, Alabama, Florida, Arkansas, Louisiana, and Texas.
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ka legislature began business by the election of D. M. Nettleton, of Clay county, as speaker. One of the most disastrous wrecks in the history of the Rock Island system occurred recently near Volland, Wabaunsee county, Kansas. More than 30 persons, mostly Mexicans, were killed and 55 were injured. The wreckage caught fire and several of the bodies were burned beyond recog. nition. The telegraph operator at Volland is held responsible. A dozen persons were injured, 40 families were made homeless and 2.000 people were driven from their homes temporarily, recently by a fire in the west side tenement district of New York. The last official act of Gov. Mickey of Nebraska, was the issuing of a pardon to Mrs. Lillie, who is serving a life sentence for the murder of her huband. The supreme court of Missouri has extended the time for the filing of the report of the special commissioner in the oil company ouster suits to the April term of court. Because she was displeased with an adverse decision, Rosa Weil, of St. Louis, fired a bullet at Judge J. A. McDonald, of the circuit court, dur ing a session of the court recently. Before she could fire a second shot she was overpowered and taken into custody. The leading railroads in Kansas and the state commissioner have reached an agreement whereby there will be a reduction in freight rates amounting annually to $1,500,000. All suits pending in the federal court against the commissioners are to be dismissed. A circular from the war department states that not in recent years, except in war time, has the army been so badly in need of men as at present. Charges of fraud have been filed with the post office department against the New York cotton exchange by the officers of the Southern Cotton association. An earthquake lasting three hours was recorded by the seismographs on the Isle of Wight and other points in Europe. Judge Landis in the federal court at overruled of Oil company the Chicago Standard the demurrer to eight indictments pending against it, but sustained the demurrer as to two other indictments because of technical defects. An unknown man exploded a bomb Street of killing the in Philadelphia, the Fourth himself National and bank assistant cashier and wrecking the interior of the bank. He made a demand for money before throwing the bomb. The Sultan's troops have captured the stronghold of Raisuli the famous bandit but with his 700 followers he escaped to the mountains. For more than 24 hours the 65,000 consumers of natural gas in Cleveland O., were caused great inconvenience and suffering by the bursting of the main leading from the gas fields. All the negro soldiers in the regular army have been ordered to prepare for service in the Philippines to which point they will be sent in the near future. Fire in a Pullman sleeper caused the death of one passenger and serious of three runCouncil ning injury between others Bluffs, while Ia., and Missouri Valley. The Interstate Commerce commission's report on the car shortage and in the in the hands coal placed famine northwest of for the president. has remedy been No recommendations a were made. The state bank examiner has closed the Bank of Commerce at South St. Joseph, Mo. Engineers on all the raliroads west of Chicago, to the number of 57,000 have made demands on the companies for an increase in wages. The Forty-fourth general assembly of Missouri is now in session at Jefferson City. Unknown persons blew open the safe containing the records of defalcations of N. C. Dougherty, ex-supof the now erintendent in penitentiary, Peoria, Ill., and schools, burned them. The loss of the records affects the liability of bondsmen and prevents future indictments. Attorney General Jackson of New York has commenced suit in the supreme court asking that George B. McClellan be ousted from the office of mayor of New York City on the
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even so vindictive a creature as Underwood finding it impossible to prosecute, or persecute, any further. Rev. Dr. Earle will preach to the colored people at Ebenezer Church this morning at 11 o'clock. At 3:30 and 7:30 he will preach in the Second Baptist Church. (A faster schedule has been adopted for passenger trains on the Richmond and Danville Railroad. The through trains will leave Richmond at 2:40 A. M., arrive at Danville at 9:52 and Greensboro at 12:10. Coming this way trains will leave Greensboro at 1:30 A. M., Danviile at 3:50 A. M. and arrive at Richmond at 11:30 A. M. General Stoneman has appointed the following magistrates for Henrico County: Walter Meade, John B. Crenshaw and G. W. West, vice W. E. Wade and George Marsh. Miss Nellie Grant, daughter of General Grant: Miss Tilt, of Galena, III., and Mr. Casey (brother-in-law of General Grant) and wife were in the city Saturday, guests of Dr. Sharp. Cutting off of heads of county officers goes bravely on Saturday General Stoneman appointed the following sheriffs: for Chesterfield, James Woody, vice Joseph H. Worsham; for Hanover, J. A. Wingfield, vice Edward Vaughan; for Pittsylvania, William Leahy. Ole Bull, the world renowned violinist, is coming to Richmond. He will give two concerts on the 8th and 6th of March next. The Mr. "A, Moseley, of Buckingham," whose political disabilities were removed by act of Congress. is not the veteran editor of the Richmond Whig, who bears that name and has a country home in Buckingham. The Illinois Legislature, by a vote of 51 to 30, has passed a bill restoring capital punishment in that State. The cashier of the Fourth National Bank of Philadelphia has fled the country, being a defaulter for $10,000. There was a run on the bank Saturday.