19180. Shackamaxon Bank (Philadelphia, PA)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: May 29, 1885
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 9ef62801

Response Measures

Full suspension, Books examined

Other: Assignment to assignees (W. H. Swire and Joseph C. Ferguson) and later court decision approving assignment; criminal indictments of officers followed.

Description

The bank posted a suspension notice May 29, 1885; depositors gathered (a run). Cause was large overdrafts and apparent fraud/embezzlement tied to William Bumm & Sons and Joseph/James Conklin. The bank made an assignment (June 3) and assignees/receivers were appointed thereafter, indicating permanent closure.

Events (3)

1. May 29, 1885 Run

Cause: Bank Specific Adverse Info
Cause Details: Large undisclosed overdrafts and misappropriations (checks and paper tied to William Bumm & Sons and large withdrawals by Joseph/James Conklin) revealed; insolvency discovered.
Measures: None reported in articles (no successful reopening; directors resolved to suspend).
Newspaper Excerpt: Depositors are gathering around the bank building and the excitement is increasing.
Source: newspapers

2. May 29, 1885 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors found aggregate deficit (~$200,000 to larger later estimates) from undisclosed checks and paper; decided to suspend and did not open for business that morning (doors not opened at 10 o'clock).
Newspaper Excerpt: A notice is posted on the door of the Shackamaxon bank ... announcing the suspension of that institution.
Source: newspapers

3. June 3, 1885 Receivership

Newspaper Excerpt: The Shackamaxon bank ... to-day made an assignment for the benefit of its creditors, Joseph C. Ferguson and William H. Swire being the assignees.
Source: newspapers

Newspaper Articles (22)

1. May 29, 1885 Evening Star Washington, DC

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ACCOUNTS $200,000 OVERDRAWN. The Shackamaxon Bank. of Philadel. phia, Closes Its Doors. PHILADELPHIA, May 29.-A notice is posted on the door of the Shackamaxon bank, at Frankford avenue and Norris street, this morning, signed by T. H. Huggard, cashier, announcing the suspension of that institution. The president is John Rose. The bank's capital is $120,000 and the surplus $30,000. It is said that the accounts have been overdrawn $200,000. The city has on deposit in the bank $10,000. Depositors are gathering around the bank building and the excitement is increasing. It is officially explained that the cause of the failure of the Shackamaxon bank was that the corporation held $100,000 of personal checks of the late Wm. Bumm, wholesale salt dealer, and $80,000 of paper endorsed by him.

2. May 30, 1885 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, May 30, 1885

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CRIME RECORD. Suspended. PHILADELPHIA, Penn., May 29.-There was an early morning sensation on Third street to-day, when the announcement was made that the Shackamaxim bank had closed its doors, its accounts having been overdrawn to the extent of $200,000. In a very short time a great, excited, noisy, anxious, angry throng gathered about the institution. The bank had a large number of depositors. Not only the largest carpet manufacturers were creditors, but also butchers and drovers and all the small shopkeepers for a mile around. The late William Bumm, salt importer, who was a leading politician, and who for years represented the Eighteenth ward in select council, was the originator of this bank, which was opened about ten years ago. Ever since his death, a little less than a year ago, the affairs of the institution have been the subject of watchful concern on the part of the officials of the Philadelphia clearing house, and more especially of D. B. Cummings, president of the Girard bank, which institution made all collections for the INSOLVENT BANK. Mr. Bumm practically owned it. Thomas L. Huggard was nominally the cashier, but in reality the clerical drudge of the place, all the routine doing and keeping up the ordinary business daily of the accounts. bank Mr. Bumm managed his own affairs with a care which precluded the of an possibility sort of exclusive anybody else gaining Bumm's insight into his peculiar doings. successor had assumed control and the accounts of the institution could be overhauled. A very critical state of affairs was found to exist. On Monday the auditof the bank for ing met at committee the the purpose board of of directors examining the accounts. When Cashier Huggard was called upon to explain certain matters, It is said that he was taken suddenly ill, so periously as to alarm the gentlement present, by whom he was removed to his home. The directors, however, succeeded yesterday in that sums money from been discovering obtained large the cashier, of of which had they had not been informed. They found checks indicating that William Bumm & Sons, salt merchants, had obtained the sum of $115,000, and that Joseph Conklin, a street cleaning contractor having no acin the The $88,000. count whatever aggregate bank, deficit had discovered obtained was $203,000, or $50,000 more than the combined capital and surplus of the bank. No entry was made of these transactions. Upon the discovery of these facts a special meeting of the board of directors was called yesterday afternoon. Mr. George W. Bumm, who, as a member of the board of directors and also a member of the firm of William Bumm & Sons, was present at the meeting and made a statement, in which he pledged the firm, as liable for the money which his firm had drawn, and in consequence his attorney contessed a judgment in favor of the bank for $115,000. The directors unanimously, near midnight last night, resolved to suspend, and accordingly at 10 o'clock this morning the doors of the bank were not opened for business. The stockholders, it is understood, indebtedness. will pay off In every addition, dollar the directors of the themselves, it is said, have $110,000 locked up in the bank, $30,000 of it having been deposited but a few days ago. The bank was made one of the city depositories last June, and the city had deposited in the bank about $10,000.

3. May 30, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, May 30, 1885

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BUSINESS BREAKS. A Philadelphia Bank Closes Its DoorsToo Many Personal Checks. PHILADELPHIA, May 29.-Notice was posted on the doors of the Shackamaxon Bank, at Frankfort avenue and Norris street, this morning, signed by T. P. Huggard, Cashier, announcing the suspension of that institution. President John Ross said that the bank's capital is $120,000, and the surplus $300,000. It was said that the accounts have been overdrawn $200,000. The city has a deposit in the Shackamaxon Bank of $10,000. It is officially explained that the cause of the failure of the bank was that the corporation held $100,000 of personal checks on the late William Bumm, a wholesale salt dealer, and $80,000 of paper indorsed by him. DUN & co.'s REPORT. NEW YORK, May 29.-The business failures occurring throughout the country during the last week, as reported to R. G. Dun & Co., number for the United States 187, and for Canada 19, or a total of 206 as against 239 iast week, and 229 the week previous. The assignments are light in all parts of the country. ASSIGNMENT OF A JEWELER. MEMPHIS, May 29.-F. D. Barnum, a jeweler, made an assignmentto-day. His liabilities are about $13,000 and his assets nominally $17,000. This failure is the result of an assignment recently made by Amos Woodruff, Mr. Barnum being his son-in-law. CLOSED UNDER ATTACHMENTS. JEFFERSON, TEX., May 29.-The bard, ware and furniture establishment of William P. Forrans was closed to-day under attachments aggregating nearly $12,000. A LONDON COLLAPSE. LONDON, May 29.-John Thornton & Son, of Bradford, have failed. Liabilities £50,000.

4. May 30, 1885 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, May 30, 1885

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BANK FAILURE AT PHILADELPHIA. Funds of the Shackamaxon Bank Loaned to Two Firms, and the Concern Suspends. Philadelphia, May 29.-There was an early morning sensation on Third street, to-day, when the announcement was made that the Shackamaxon Bank had closed its doors, its accounts having been overdrawn to the extent of $200,000. In & very short time a crowd of excited, noisy, anxious and angry people gathered about the institution. The bank had a large number of depositors. Not only the largest carpet manufacturers were customers, but also butchers and drovers, and all the small shopkeepers for a mile around. The late Wm. Bumm, salt importer, who was a leading politician, and who for years represented the Eighteenth ward in the Select Council, was the originator of this bank, which was opened about ten years ago. Ever since his death, a little less than a year ago, the affairs of the institution have been the subject of watchful concern on the part of the officials of the Philadelphia clearing-house, and more especially of T. B. Cummins, president of the Girard Bank, which institution made all collections for the insolvent bank. Mr. Bumm practically owned it. Thomas L. Huggard was nominally the cashier, but in reality the clerical drudge of the place, doing all the routine business of the bank, keeping up the ordinary daily accounts, while Mr. Bumm managed his own affairs with a sort of exclusive care which precluded the possibility of any one else gaining an insight into his peculiar doings. Bumm's successor had assumed control, and the accounts of the institution could be overhauled. A very critical stateof affairs was found to exist. On Monday the auditing committee of the board of directors met at the bank for the purpose of examining the accounts. When Cashier Huggard was called upon to explain certain matters, it is said that he was taken suddenly ill, so seriously as to alarm the gentlemen present, by whom he was removed to his home. The directors, however, succeeded yesterday in discovering that large sums of money had been obtained from the cashier, of which they had not been informed. They found checks indicating that William Bumm & Sons, salt merchants, had obtained the sum of $115,000, and that Joseph Conklin, having no account whatever in the bank, had obtained $88,000. The aggregate deficit discovered was $203,000, or $50,000 more than the combined capital and surplus of the bank. Upon the discovery of these facts a special meeting of the board of directors was called yesterday afternoon. Mr. George Bumm, who is a member of the board of directors, and also a member of the firm of Wm. Bumm & Sons, was present at the meeting, and made a statement, in which he pledged the firm as liable for the money which it had drawn, and in consequence. his attorney confessed judgment in favor of the bank for $115,000. The directors unanimously, near midnight last night, resolved to suspend, and accordingly, at 10 o'clock this morning, the doors of the bank were not opened for business. The stockholders, it is understood, will pay off every dollar of the indebtedness. In addition, the directors themselves, it is said, have $100,000 locked up in the bank, $30,000 of it having been deposited but a few days ago. The bank was made one of the city depositories last June, and the city had deposited in the bank about $10,000.

5. May 30, 1885 Eureka Daily Sentinel Eureka, NV

Article from Eureka Daily Sentinel, May 30, 1885

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Secretary of the Navy to-day, reports the trial trip yesterday satisfactory, and that the requirements of the contract for the vessel were complied with. A Bank Failure. PHILADELPHIA, May 29.-A notice was posted on the door of the Shackamaxon Bank this morning, signed by T. H. Huggard, Cashier, announcing the suspension of that institution. The President is John Rose. The bank's capital is $120,000 and its surplus $30,000. It is said that accounts had been overdrawn $200,000. No Baseball on Sunday. CLEVELAND, May 29.-Somers, catcher of the Cleveland Baseball Club, was convicted in the Police Court to-day for playing ball on Sunday. The case will be taken to a higher court. A Destructive Fire. DENVER, Col., May 29.-At Fort Collins this morning C. R. Welch's dry goods store and the Windsor Hotel, adjoining, were burned. The estimated loss is $40,000; insurance $34,000. An Appointment. WASHINGTON, May 29.-Charles Denby, of Indiana, was to-day appointed to be Envoy Extraordinary and Minister Plenipotentiary to China.

6. May 30, 1885 The Semi-Weekly Miner Butte, MT

Article from The Semi-Weekly Miner, May 30, 1885

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# CONDENSED TELEGRAMS. Baron De Staal, the Russian Ambassador, and his wife, will spend the holidays with the Duke and Duchess of Edinburg. A Russian officer and several Cossacks have arrived at Meshed, Persia. Meshed is the capital of the Province of Khorassa. At Fort Collins, Colorado, yesterday morning, C. R. Welsh's dry goods store and the Windsor Hotel were burned; estimated loss, $40,000; insurance; $34,000. The business failures in the United States during the last seven days numbered 206, against 239 last week. The assignments were light in all parts of the country. Sir Peter Lumsden, recently in charge of the British section of the Afghan Boundary Commission, will arrive in Constantinople to-day on his way to London. The weekly statement of the New York associated banks shows a reserve increase of $956,850. The banks now hold $60,769,000 in excess of the legal requirements. The volunteers of India have been placed under the orders of the commander-in-chief of the Queen's forces. The Duke of Cambridge's India volunteers have an extra allowance and wear scarlet uniforms. At Bordentown, N. J., the entire personal property of Mrs. Delia T. S. Parnell, the mother of the Irish land leaguer, has been seized at the suit of Joshua J. Turner and others, and is advertised to be sold June 1st. The London Times in an editorial says: "Henry M. Stanley, in his campaign in Europe in behalf of the Congo state, has shown scarcely less energy, enthusiasm and tact than are displayed in his book on the Congo. His zeal is boundless and his industry unconquerable." Yesterday morning a notice was posted on the door of the Shackamaxon bank, signed by T. H. Huggard, cashier, announcing the suspension of that institution. The president is John Rose. The bank's capital is $120,000, and the surplus $300,000. It is said that the accounts have been overdrawn $200,000.

7. May 30, 1885 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, May 30, 1885

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A Bursted Philadelphia Bank, Philadelphia, May 30.-A notice is posted on the door of the Shackamaxon bank, on Frankford avenue and Norris street, signed by T. H. Huggard, the cashier, announcing the suspension of that institution. The president is John Rose. The bank's capital is $120,000 and. the surplus $30,000. It is said that the accounts have been overdrawn $200,000. The city has on deposit in the bank $10,000. Depositors are gathering around the bank building and the excitement is increasing. It is officially explained that the cause of the failure was that the corporation held $100,000 of personal checks of the late Wilham Bumm, wholesale salt dealer and $80,000 of paper endorsed by him.

8. June 2, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, June 2, 1885

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MERCANTILE CRASHES. The Affairs of the Shackamaxon Bank in a Very Bad Condition. Philadelphia, June 1.-Further investigation into the affairs of the collapsed Shackamaxon Bank show that its condition is even worse than was expected. The total shortage may reach half a million dollars, so that even with the legal assessment on the stockholders of $140,000, double the amount of the capital stock, there will be but sufficient funds to pay the depositors. The directors made a superficial examination of the accounts on Saturday and found things in a most discouraging condition. The books were all in confusion, and it will require several days of expert work to clear matters, so that an accurate statement may be got at. The experts began work to-day. SALE OF MARINE BANK PROPERTY. NEW YORK. June 1.-The Marine Bank building in Wall street was sold to-day by the assignee for $175,000. Two buildings also belonging to the oank brought $85,500. Other buildings, the property of ex-President James D. Fish, which he assigned, were sold under the hammer for $519,250.

9. June 3, 1885 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, June 3, 1885

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THE or Philadelphia-Inquiry Into its Books Shows a Very Bad State of Affairs. PHILADELPHIA, PA., June 2.-The experts are still hard at work at the books of the suspended Shackamaxon bank trying to evolve order out of the chaos. The deeper they delve into the books, however, the larger grows the deficit until it seemed that it would reach far into the hundreds of: thousands. The auditing committee of the Board of Directors compared some of the deposit books with the leigers to-day and found a difference of $7,400 for one day, that is, $1,400 was received in a single day which was not latered upon the books. If this rate of deficit continues the loss will be much larger than the directors thought. A statement was made this afternoon by a friend of James Conklin, highway contractor, who played an important part in the failure, that the amount he drew is much larger than the directors thought; $80,000 was the extreme figures named, but it is stated thatthe amountis $140,000,

10. June 3, 1885 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, June 3, 1885

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Scientific Robbery. PHILADELPHIA, Pa., June 2.-The experts are still hard at work at the books of the suspended Shackamaxon bank, trying to evolve order out of the chaos. The deeper they delve into the books, however, the larger grows the deficit, until it seemed, this afternoon, that it would reach far into the hundred thousands. The auditing committee of the board of directors of the bank compared some of the deposit books with ledgers this afternoon, and found a difference of $1,400 for one day-that is, $1,400 was received in a single day which was not entered upon the books. If this rate of deficit continues, the loss will be much larger than the directors thought. The statement was made this afternoon by a friend of Joseph Conklin, the highway contractor who played an important part in the failure of the bank, that the amount he drew is much larger than the directors thought. Eighty thousand dollars was the extreme figure named, but it is stated the amount is $140,000. The bank has decided to make an assignment to-morrow.

11. June 3, 1885 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 3, 1885

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TELEGRAPHIC BREVITIES. Charles Joel was shot and killed on Sunday, at Poplar Bluffs, Ark., by William Robertson. The cathedral erected by Mrs. A. T. Stewart at Garden City, L. I., was consecrated yesterday. The Manufacturers' Fire and Marine Insurance Company, of Boston. voted, yesterday, to reinsure its risks and discontinue business. George Green, a farmer, living near Elkhorn, Wis., and one of Walworth county's earliest settlers, was killed by lightning yesterday afternoon. By the explosion of a soda fountain at Stuckey's drug store, at Pittsburg, yesterday afternoon, James McConnell, a clerk, was fatally injured. A. Talkington. sheriff of Idaho county, Idaho, with a nosse of three men, shot and killed a horse-thief named Fox, at Lapwai Agency. Fox was resisting arrest. Samuel Eby, the ex-banker of Elizabethtown. Pa., who failed last January. has been arrested on the charge of embezzling $6,000 belonging to the estate of Edward Sweeny, of which Eby was one of the executors. A skiff in which were six fishermen. was swamped in the swells of the Monongahela river, near Six-mile Ferry, at an early hour yesterday morning, and S. Kunkle and J. Sinsteir drowned. The others swam ashore. The funeral of Charles T. Howard, principal owner of the Louisiana lottery, who was killed by being thrown from a horse against a tree, was held at Dobbs Ferry yesterday. The remains left for New Orleans last evening. The Kappes Furniture Manufacturing Company, of Chicago, was levied upon and closed yesterday to satisfy certain judgments entered by confession. The liabilities of the company are stated to be $18,000; assets not given. Mayor Harrison, of Chicago, yesterday afternoon, through his police department, issued an order that all gambling houses not closed on or after the 5th inst., will be raided by the police, and their occupants arrested and their contents destroyed. The experts are still hard at work on the books of the suspended Shackamaxon Bank of Philadelphia. The deeper they delve into the books the larger grows the deficit, until it seemed yesterday that it would reach far into the hundreds of thousands. The bank has decided to make an assignment. The nineteenth anniversary of the Universal Peace Union began yesterday at Philadelphia. The annual report stated that complimentary letters had been sent to Gladstone and others, relative to the settlement of the Afghan question without bloodshed. The final session will be held to-day. The Ohio live stock commission, created by the last Legislature, held a meeting to-day, and from investigations which have been made by the State Veterinarian, expressed the opinion that pleuro-pneumonia. which prevailed among cattle in certain districts last summer, has been entirely stamped out. There has been no outbreak of the disease since June last. Charles E. Ackron, brought from Chicago to Jersey City to answer to fifteen complaints of forgery, was yesterday held to the grand jury. A well-dressed gentleman was in the court-room with a loaded revolver. He declined to give his name, but asserted that Ackron had attempted his daughter's ruin, and that he meant to kill the prisoner in case the court failed. to hold him.

12. June 4, 1885 Savannah Morning News Savannah, GA

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BUSINESS BREAKS. A Receiver for the Broken Bank-The Charges Against Ward, PHILADELPHIA, June 3.-The Shackamaxon bank, which closed its deors a few days ago, to-day made an assignment for the benefit of its creditors, Joseph C. Ferguson and William H, Swire being the assignees. William News, a depositor in the bank. brought an equity suit to-day praying the court to appoint a receiver. The application will probably be heard to-morrow. WARD CHARGED WITH GRAND LARCENY. NEW YORK, June 3.-The grand jury yesterday found an indictment for grand larceny against Ferdinand Ward. The evidence on which it was found was that submitted to Referee Cole to the effect that Ward carried a bag full of securities from the vaults of the Marine Bank prior to its collapse. The indictment, when first presented, was banded to the Recorder of the Court of General Sessions, who immediately directed the chief clerk to issue a bench warrant on which Ward should be brought before him forthwith. Soon after, however, the District Attorney made a motion that the case be transferred to the Oyer and Terminer Court, to which the Recorder consented. The indictment charges Ward with grand larceny in the first degree in carrying away from the Marine Bank a bag containing $1,500,000 worth of bonds and securities. A writ of habeas corpus was obtained by the District Attorney this atternoon from the Court of Oyer and Terminer, requiring the production of Ward in court to-morrow morning. A NEW ORLEANS FAILURE. NEW ORLEANS, June 3.-Richard Rhodes, a dealer in guns and fishing tackle, has made à cession of his property to his creditors. His liabilities are $29,000 and his assets $16,000. FAILURE OF A CROCKERY MERCHANT. PETERSBURG, VA., June 3.-C. G. Taylor, a crockery merchant of this city, assigned to-day. His assets are believed to be sufficient to cover his indebtedness.

13. June 4, 1885 New-York Tribune New York, NY

Article from New-York Tribune, June 4, 1885

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THE SHACKAMAXON BANK FAILURE. PHILADELPHIA, June 3 (Special).-Joseph C. Ferguson and William Swire are selected by the officers of the Shackamaxon Bank as the assignees. It is reported that Joseph Conkling has already passed over $8,000 in highway department claims and agreed to assign to the bank a claim of $26,000 against the city for work on the South-st. bridge. Books have been found showing that he paid money into the bank at various times or at least had received credit for sums supposed to have been deposited. John H. Fow, E. A. Anderson and Joseph F. Full, attorneys, have, on behalf of several stockholders in the bank, filed a bill in equity. They ask for the appointment of a receiver and will be heard in Common Pleas to-morrow. They hold that the directors have been criminally negligent and are not entitled to an assignment. It is alleged that this position has been sustained by the Court before, notably in the case of the Union Trust Company. Cashier Huggard is getting better, but as yet no information has been obtained from him.

14. June 4, 1885 The Dallas Weekly Herald Dallas, TX

Article from The Dallas Weekly Herald, June 4, 1885

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HOW BUMM BROKE A BANK. PHILADELPHIA'S BIG SENSATION. A Financier Who Was Exclusive is Managing His Own Affairs, and Kept the Cashier in IgnoranceHealthy Over-Drafts. PHILADELPHIA,"May 30.-There was an early morning sensation on Third street yesterday when the announcement was made that the Shackamaxon bank had closed its doors, its accounts having been overdrawn to the extent of $200,000. In a very short time an excited, noisy, anxious, angry throng gathered about the institution. The bank had a large number of depositors. Not only the largest carpet manufacturers were customers, but also butchers and drovers, and all the small shop-keepers for a mile around. The late William Bumm, salt importer, who was also a leading politician, and who ior years represented the Eighteenth ward in the select council, was the originator of this bank, which was opened about 10 years ago. Ever since his death, a little less than a year ago, the affairs of the institution have been a subject of watchful concern on the part of the officials of the Philadelphia Clearing house, and more especially of T. B. Cummins, president of the Girard bank, which institution made all collection for the insolvent bank. Mr. Bumm practically owned it. ThomasT. Huggard was nominally the cashier, but in reality the clerical drudge of the place, doing all the routine business of the bank, keeping up the ordinary daily accounts, while Mr. Bumm managed his own affairs with a sort of exclusive care which precluded the possibility of any one else gaining an insight into his peculiar doings. Bumm's successor had assumed control and the accounts of the instition could be overhauled. A very critical state of affairs was found to exist on Monday. The auditing committee of the board of directors met at the bank for the purpose of examining the accounts. When cashier Huggard was called upon to explain certain matters, it is said that he was taken suddenly ill, so seriously as to alarm the gentlemen present, by whom he was removed to his home. The directors, however, succeeded yesterday in discovering that large sums of money had been obtained from the cashier, of which they had not been informed. They found checks indicating that Wm. Bumm & Sons, salt merchants, had obtained $115,000 and that James Conklin, a street-cleaning contractor, the latter having no account in the bank whatever, had obtained $88,000. The defict discovered is $700,000, or $50,000 more than the combined capital and surplus of the bank. No entry was made of these transactions. Upon the discovery of these facts a special meeting of the board of directors was called vesterday afternoon. Mr. George W. Bumm, who is also a member of the board of directors, and also a member of the firm of William Bumm & Sons, was present at the meeting and has made a statement, in which he pledged the firm as liable for the money, which the firm had drawn, and, in consequence, his attorney confessed judgment in favor of the bank for $115,000. The directors unanimously, near midnight Thursday night, resolved to suspend, and accordingly at 10 o'clock yesterday morning the doors of the bank were not opened for business. The stockholders, it is understood, will pay off every aollar of the indebtedness. In addition, the directors themselves, it is said, have $100,000 locked up in the bank, $30,000 of it having been deposited but a few days ago. The bank was made one of the city depositories last June, and the

15. June 6, 1885 New-York Tribune New York, NY

Article from New-York Tribune, June 6, 1885

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THE SHACKAMAXON BANK DEFICIT. PHILADELPHIA, June 5 (Special).-Joseph Conkling, the highway contractor, of whom so much has been said in connection with the Shackamaxon Bank, It is reported, has had a consultation with the directors and agreed to make a statement of his connection with the institution. The story goes that he agreed with William Bumm, that whenever Conkling received a contract Mr. Bumm would furnish the necessary money. According to Conkling's statement the cashier, Huggard, was instructed to give them credit to the amount of the contract. Conkling drew the money and when he received the warrant gave It to Bumm or Huggard and had a settlement. This, in effect, is the statement which Conkling is alleged to have made to the directors, and it is further said that it is corroborated by the pass books and notes of Mr. Bumm to Huggard. which have been discovered. If the story can be substantiated that Mr. Bumm received the warrants that were made out to the contractor or bearer, an effort will be made to hold his estate Itable. In the Common Pleas Court No. 4, the consideration of the motions for the approval or appointment of the assignees of the bank, and for the appointment of a receiver is postponed until to-morrow, Saturday.

16. June 6, 1885 The Milan Exchange Milan, TN

Article from The Milan Exchange, June 6, 1885

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MISCELLANEOUS. PEOPLE are leaving Dongola, expecting a great massacre by the Mahdi's troops. OVERDRAFTS caused the suspension of the Shackamaxon Bank at Philadelphia, Pa. A RUSSIAN naval officer has been arrested at Cronstadt on suspicion, it is reported, of being connected with a plot to ac. quaint England with the method of the closing of the harbor of Cronstadt with torpedoes. THE bill to make ten hours a day's work has passed both houses of the Michigan Legislature. The measure does not apply to farm labor, but to all other kinds, and is mainly directed toward workmen in the lumber region. ON the 30th the Presbyterian General Assembly was in session at Cincinnati, O. MEMORIAL Day was more generally observed than ever on the 30th, reports from all parts of the country giving details of interesting ceremonies. In many portions of the South Confederates joined with Federals, and the Blue and the Gray vied in doing honor to those who had fallen in defense of their opinions. THE Apaches continue their outrages in Southern Mew Mexico. THE Republic Iron Works, at Pittsburgh, Pa., signed the Amalgamated Association scale. RUSSIA is said to have agreed to the English proposals to keep the Tory party from going into power. THE Bosphore Egyptien has made a savage attack on Englishmen in Egypt, and there is more talk of suppression. ON the 30th, the priest at Milford, Mass., forbade the G. A. R. entrance to the Catholic Cemetery to decorate the graves. THE New York Grand Jury returned a presentment against the Board of Health for inexcusable delay in suppressing nuisances in tenement houses. THE Mayor and seventeen prominent citizens of Cincinnati, who borrowed $165,000 for the city, for which the Legislature failed to provide, are [exercised over the prospect of having it to pay. AN exploring party from Canada have sent to Quebec full accounts of Lake Mistassini in the Northwest. It is said to be as large as Lake Ontario. FIFTY removals are to be Imade immedi-telv in the Pension Bureau.

17. June 6, 1885 St. Landry Democrat Opelousas, LA

Article from St. Landry Democrat, June 6, 1885

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An encounter recently took place in Cuba between cavalrymen and bandits, in which several were killed. AT Cleveland, O., an effort is being made to enforce the Sunday law against base ball players. ALL signs indicate that both the iron manufacturers and workmen are preparing for a strike. NOTWITHSTANDING four crypts have been added to the Congressional library at Washington, more space is yet needed. AT its recent meeting the Western Nail Association rejected the scale proposed by the Amalgamated Association, and a lock-out of nail makers is probable. THE Commissioner of Internal Revenue has promulgated a new regulation requiring spirits exported by rail to be gauged at the port of exportation. For the first ten months of the fiscal year ending June 30th aggregate collections of internal revenue were $92,164,417, a decrease from the corresponding period last year of $7,037,885. THE Great Falls Manufacturing Company has instituted suit against the authorities at Washington to restrain them from increasing the water supply there, on the ground that it will injure the company. SLAVERY is to be abolished in Brazil. THE business failures in the United States for the seven days ended the 29th numbered 161. GLANDERS among horses in Quebec has become so serious as to call for official action. SEVERAL Pittsburgh (Pa.) firms have signed the scale of the Amalgamated Association. PEOPLE are leaving Dongola, expecting a great massacre by the Mahdi's troops. OVERDRAFTS caused the suspension of the Shackamaxon Bank at Philadelphia, Pa. THE results of the last trial trip of the Dolphin are reported satisfactory in every respect. FOUR chiefs of divisions in the third Auditor's office have been dismissed by Secretary Manning. RUSSIA is said to have accepted England's latest counter-proposals, which settles satisfactorily the Afghan boundary question. THE United States debt statement will show a decrease for the month of May of about $5,000,000. THE Texas Land Board has inaugurated a vigorous war on the cattle syndicates who are using land unlawfully. CHICAGO'S "Committee of Safety" are going to invoke the courts to compel the Council to complete the canvass of the votes. A RUSSIAN naval officer has been arrested at Cronstadt on suspicion, it is reported, of being connected with a plot to acquaint England with the method of the closing of the harbor of Cronstadt with torpedoes. THE bill to make ten hours a day's work has passed both houses of the Michigan Legislature. The measure does not apply to farm labor, but to all other kinds, and is mainly directed toward workmen in the lumber region. THE New York Grand Jury returned a presentment against the Board of Health for inexcusable delay in suppressing nuisances in tenement houses.

18. June 11, 1885 Iron County Register Ironton, MO

Article from Iron County Register, June 11, 1885

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# CURRENT TOPICS. ## The News in Brief. M. R. H. WITTER, of St. Louis, Mo., was re-elected President of the International Typographical Union. AN English cutter has been seized by the German dispatch boat Pommerania for fishing in prohibited waters. THE failure of the Shackamaxon Bank at Philadelphia, Pa., proves to have been a bad one. Liabilities about half a million. IT is semi-officially announced at Paris that Bismarck offered to arbitrate for the 'settlement of the dispute between Russia sand England. THE Tories are jubilant and the Liberals disconcerted by the statement from Earl "Granville that the Afghan boundary matter is not yet settled. COLONEL STEPHENSON, chief of the middle division of the Pension Office, has been requested to resign. The grounds have not been made public. THE Baron Roger, on the occasion of Hugo's funeral at Paris, tried to protect his grounds by putting cut glass on the wals, but the populace would not allow it. THE total exports of mineral oils during the ten months ended April 30th, 1885, were 468,766,148 gallons; during the corresponding period last year, 16,674,485 gallons. PRUSSIA has presented a scheme in the Bundesrath for a canal from the North Sea to the Baltic, to cost 156,000,000 marks, Prussia to pay 50,000,000 and Germany 106,000,000. MAYOR HARRISON of Chicago has issued an order that all gambling-houses not closed on or after the 5th inst. will be raided by the police, and their occupants arrested and their apparatus destroyed. In the Canadian House of Commons on the 8th, Mr. Lisler will inquire of the Government what steps have been taken for the trial of Riel, and whether an effort will be made to have Gabriel Dumont extradited. LIBERTY HALL, the old home of Alex. H. Stephens, at Crawfordsvälle, 'Ga., has been deeded to the Stephens Memorial Association. Mr. Stephens' remains will be removed on the 10th inst., from Atlanta to Liberty Hall. JUNK dealers at Baltimore, Md., are charged with dealing in bed ticking bought from steamships and used by emigrants. It is thought to be a very dangerous practice and liable to be the means of communicating disease. THERE were 162 failures in the United States reported to Bradstreet's during the seven days ended the 5th, against 161 in the preceding week, and 182, 148 and 130 in the corresponding weeks of 1884, 1883 and 1882, respectively. Ar a meeting of citizens of New Orleans on the 2d to consider the question of continuing the World's Fair, it was unanimously resolved to reopen the exhibition next fall, whether the Government exhibit remains or not. THE jury in the case of John A. Drew, who has been on trial in Washington, D. C., for presenting false vouchers against the Bureau of Medicine and Surgery of the Navy Department, brought in a verdict of acquittal. A CITIZEN of Montreal, Can., named Quillette has brought suit for $10,000 damages against Dr. Berry, City Vaccinator, for causing the death of two of his children with impure lymph. The doctor says the children died from measles. RAIMOND SCHOROCH, the alleged dishonest Post-office clerk, who fled from Hainspoch, Bohemia, with moneys belonging to the Austrian Government, has been held for extradition by United States Commissioner Shields at New York. COMMISSIONER SPARKS, of the Land Office, has made the following order: Final action of this office on all pre-emption and homestead entries in the San Francisco and Humboldt (Cal.) districts, will be suspended until the same have been examined by special agents. VICTOR HUGO's funeral on the 1st was the greatest demonstration of the kind Paris has ever witnessed. The solemnity of the occasion and the words of the orators seemed to awe even the Communists into decency, and there was no rioting or exhibition of disorderly conduct. J. M. REYNOLDS met a horrible fate at the Southern Hotel, St. Louis, Mo., on the morning of the 2d. He fell or threw himself from the third story to the ground floor in the rotunda, and was instantly killed. He was sixty years old, and formerly First Auditor of the United States Treasury. THE Supreme Council of the Royal Arcanum convened in general session at Buffalo, N. Y., on the 3d. The financial report shows 62,549 full and 12,062 half-rate members as reported on January 1st to the Insurance Commissioners, and that insurance amounting to $15,954,000 is at present carried by the members. THE chief of the Post-office inspectors has been informed that Postmaster L. N. Hibbs of Leviston, Idaho, issued money orders to the amount of $15,000 or $20,000, payable to himself, ordered banks in different cities to collect them and forward the money to him, and then absconded.

19. June 14, 1885 New-York Tribune New York, NY

Article from New-York Tribune, June 14, 1885

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EMBARRASSMENTS IN BUSINESS. DES MOINES, Iowa, June 13 (Special).Colonel Hugh Creighton, of the Union Loan Association, has made an assignment. His liabilities are as follows: W. Balls, Hartford, Conn., $23,760; D. E. Kent, West. field, N. Y., $8,223; Sarah Porter, Farmington, Conn., $1,563; W. Boardman, Hartford, $731 50; C. H. B. Tremaine, Hartford, 8522 50 Des Moines Savings Bank, $3,000; Valley National Bank, Des Moines, $1,500; Chieago Lumber Company, Des Moines, $2,800. Total, $44,100. PHILADELPHIA, June 13.-President Judge Thayer, of Common Pleas Court No. 4, to-day delivered a decision sustaining the assignment made by the Shackamaxon Bank on June 3 to W. H. Swire and Joseph C. Ferguson. and refusing the application made by W. News, and joined in by other depositors, for the appointment of a receiver.

20. June 29, 1885 The Washington Critic Washington, DC

Article from The Washington Critic, June 29, 1885

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THE Shackamaxon Bank of Philadelphia is said to have been run into the ground by a lot of pile-driving Pennsylvania politicians. It was a thorough job. At last advices not over $50,000 of assets were left in sight.

21. July 4, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, July 4, 1885

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SHACKAMAXON SCHEMING. Four of the Bank's Officials to be Arrested for Conspiracy to Defraud, PHILADELPHIA, July 3.-A bill in equity was filed to-day in the Common Pleas Court charging the officers of the suspended Shackamaxon bank with conspiracy to defraud the bank. This afternoon warrants were issued by a magistrate for the arrest of George W. Bunn, ex-President of the select council, William H. Bunn, his brother, Thomas L. Huggard, cashier, and Samuel P. Milliken a director of the bank, on a charge of conspiring to defraud the bank of $300,000. Cashier Huggard is also accused of perjury in making talse returns to the State Auditor General. Messrs. Bunn were arrested at their places of business this afternoon, and on being taken before a magistrate each gave bail to the amount of $20,000 to appear for further hearing on Tuesday next. Director Miliken was not found at his home, and up to a late hour had not been arrested. HUGGARD AT DEATH'S DOOR. Owing to Cashier Huggard's critical condition nothing has been done toward effecting his arrest. This evening he was in a semi-conscious state, and his family announced that as soon as it is possible he will respond to whatever demands may be made upon him. The directors of the bank say that the criminal prosecution was begun in good faith, and that the warrants would have been issued weeks ago but for the urgent advice of the counsel, who represented that precipitate action might defeat the end in view. Among the depositors a general feeling of satis. faction was expressed at the prospect of criminal prosecution, which was coupled, however, with an apprehension lest the proceedings would not be vigorously pushed.

22. January 17, 1886 New-York Tribune New York, NY

Article from New-York Tribune, January 17, 1886

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PHILADELPHIA. MAYOR SMITH'S DEFEAT-PHOTOGRAPHERS EXHIBITION-ART [FROM AN OCCASIONAL CORRESPONDENT OF THE TRIBUNE.] PHILADELPHIA, Jan. 16.-The fight that was waged with so much bitterness has been finally settled and Mayor Smith finds himself the under man in the contest. The struggle was fought at the recent primaries and will make William R. Leeds the next chairman of the City Committee, a position the Mayor strove hard to place in other and more friendly hands. This, however, was not the only feature in the race as 11 was more directly a showing of the Mayor's streugth looking to a renomination for the office he now holds: as he has lost the support of over thirds of the wards it is the opinion of many that Mr. Smith's name will not be mentioned in the next Mayoralty convention. There has been an almost clean sweep in the Schuylkill Arsenal, and this week twelve Republicans were dismissed without a moment's warning and Democrats put in their places. of the old force but live Republicans remain. These are positions of trust and require considerable ability to fill. At Democratic headquarters it is given out that a large force will be put to work at the League Island Navy Yard before February 1; that the third-rate monitor Puritan will be sent here to be thoroughly overhauled. The photographers' exhibition given this week has proved the most successful ever held by their association. The display includes 1,752 pictures. Twelve women artists were represented. There are many works shown by foreign artists. At the conclusion of the exhibitions prizes for the best works will be awarded. The rivalry in the Academy of Fine Arts As to who should compose the Hanging Committee for the next annual exhibition was decided on Tuesday, when the following selection was made from ten well-known artists whose names had been placed in the box: Thomas Hovenden, Cecella Beaux, Emily Sartain, George F. Stevens and H. R. Poore. Philadelphia artists who propose taking their pictures to the nineteenth annual exhibition of the American Water-Color Society of NewYork have been making preparations and propose to be well represented. Messrs. Lambdin, Sword. Craig and Richards have had. their works boxed and these will be shipped about January 20. A number of PhiladelpAla artists will in the near future organize a new art club. Robert Newball, the well-known cricketer, received a letter on Wednesday from E. J. Sanders, of the English eleven who visited this country last summer, in which he speaks of the desire of all the members to return for another series of games during the summer of 1886. Parson Thornton, he says, will not be captain of the team on their next trip, and that this place will be filled by Colonel Wolrund. The departmental heads of the city, with Mayor Smith as chairman, have decided to abandon the Civil Service rules in making appointments. The Mayor says he will govern the city to his own liking and he desires " no civil service in his." The investigation into the manner in which the defunct Shackamaxon Bank was run is bringing to light some astouishing methods practised by those in charge. Taylor Faunce, an expert bookkeeper, testified that at tue time of the failure William Bumm & Sons owed the bank $260,312 5 Contractor Coukling, who never had a cent on deposit. was Indebted to the institution $139,670, all of whish had been drawn by him on memorandums. due bills and checks, of which no record was kept. These deficiencies were concealed by false footings OD the ledgers." The society event of the week was the ball given by Mr. James P. Scott on Wedneadav night at her handsome home, No. 2,032 Walnut-st. Instead of giving a fancy areas ball as was the case last year, the hostess ordered that It should be a bal poudre. The Italian opera to be given at the Academy next week is assured of success, the sale of seats being already greatly in excess of all expectations. The Little Tycoon " at the Temple has made is decided hit and promises to enjoy 8 long run. Mary Anderson never played to larger business here, the Opera House being literally packed at each performance. # The treasurer of the Grant Monument Fund in St. Louis has sent 7,000 circulars into the State of Missouri, and has not received a single cent in reply.