22c8c0f1Accommodated withdrawals, Borrowed from banks or large institutions, Full suspension, Books examined
Other: Directors and stockholders later faced suits; assignee appointed; evidence of embezzlement and re-hypothecation uncovered.
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Failure of the Penn Bank, of Pitto burg. PITTSBURG, PA., May 21. - The Penn bank of this city, closed its doors and posted the following: "Owing to a continued run for several days we have decided that It is wise for our depositors and all concerned to suspend payment for the present." There Is great excitement, and a large crowd surrounds the bank. Officers have been placed at the doors.
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The roon Bank suspension The Penn bank of Pittsburg suspended Wednesday, in consequence of a run upon it which had continued for several days. Its president, Mr. Riddle, said the deposits had decreased over $500,000 within five days, owing to unfounded reports made current by interested and malicious persons." A stockholder says the bank is entirely solvent and will pay all its indebtedness. The capital stock is $200,000. Mr. Riddle said that the directors of the bank had begun an examination of its affairs, and everything indicated that all claims would be paid in full. He declined to make any statement of the liabilities and arrests, but it was learned from an out side source that the liabilities will not exceed $1,500,000, and that the assets will more than cover this. The only question is 11. regard to the time necessary to realize
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Another Bank Suspended. The Penn Bank of Pittsburg suspended Wednesday, in consequence of a run upon it which had continued for several days. Its President, Mr. Riddle said the deposits had decreased over $500,000 within five days, "owing to unfounded reports made current by interested and malicious persons." One of the stockholders says the bank is entirely solvent and will pay all its indebtedness. The capital stock is $200,000. Mr. Riddle said last night that the directors of the bank had begun an examination of its affairs, and everything indicated that all claims would be paid in full. He declined to make any statement of the liabilities and arrests, "but it was learned from an outside source that the liabilities will not exceed $1,500,000, and that the assets will morethan cover this. The only question is in regard to the time necessaay to realize."
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PITTSBURG CATCHES IT. The Failure of the Great Penn Bank. PROMISES TO RESUME BUSINESS SOON Excitement Caused by the Announcement of the Unexpected Failure Great Crowds Gather at the Bank Doors. PITTSBURGH, May 21.-The doors of the Penn Bank were closed at noon to-day, and the following announcement was posted upon the panels: "Owing to the continued run for several days, we have decided it wise for our depositors and those concerned, to suspend payment for the present." This announcement was so unexpected to the general public that at first the import of the words was scarcely realized. Among the first to gather on the iron steps to read the words were several district messenger boys, and they repeated aloud: "The bank has failed." They laughed at their own statement, and so did several men who were walking along the street, they not even taking the trouble to see what was written on the little piece of white paper. In a short time, however, the news spread and the consternation and alarm which was at first felt. grew as the moments passed, and the wildest kind of rumors were set afroat about other financial institutions. In a hour it was known among bankers and business men that there was no necessity for alarm, as no other banks. were in danger. The Penn Bank was yesterday assisted in meeting its obligations at the Clearing House by a loan of $100,000. made by the Farmers' Deposit National Bank, through which it cleared. It was hoped that mat ters would be in better shape to-day and that the bank would be able to meet its paper when presented. The result was a disappointment, and the checks on the Penn Bank were returned by the Farmers' Deposit National President Riddle said: "I have no details to give, but I wish to say I am here to face the music and do my duty. Owing to an unfounded report made current by interested and malicious persons, there has been a run on us for several days, our deposits having decreased $500,000 or $700,000 in five days. We therefore deemed it wise to take the action we have now done. Further than that I have nothing to say." Rumors and Rumors. All sorts of rumors were soon in circulation the vast majority of which were untrue. The bank did an immense business and yesterday its stock was quoted at 130. The announcement of the failure created consternation in many quarters and it sold the lowest for a long time. There was a frenzied effort to sell and blocks in million barrel lumps were hurled from the market. This Looks Well. The directors of the bank held a meeting this afternoon at which it was ascertained that the depositors could be paid dollar for dollar if a little leniency was exercised It was also stated that offers of assistance had been received and it was possible the bank might resume in a few days. The Latest. A meeting of the Board for final action was held this evening and it was decided to open the bank Friday morning. The bank was found to be solvent.
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The state of the Banks The excitement caused by the suspension of the Penn bank, in Pittsburg, has subsided, and there was no run on any of the banks on Tuesday. The Penn bank officials say they will reopen their doors with $600,000 cash on their counters. The stockholders of the Penn bank have aunounced that "business will be resumed with $680,000 in cash on their counter, and a reserve fund of $450,000 for emergencies." The amount liable to draft by depositors is $900,000, but depositors rep resenting $150,000 have signed an agree. ment not to withdraw. Ellett, Drewry & Co., wholesale dry goods dealers, of Richmond, Virgina, have made an assignment with preference amounting to $103,000. Their total liabili. ties are placed at $200,000. Mr. Drewry thinks they will be able to pay in full. In St. Louis attachments aggregating over $40,000 were filed against the firm of Kaufman, Cohen & Co, wholesale milliners. call Issued for Ten Millions to Bonds The secretary of the treasury has issued the 128th call for the redemption of bonds. The call is for ten million dollars three per cent. bonds issued under the act of Congrees, approved July 12, 1882, and notice is given that the principal and ac. crued interest will be paid at the treasury of the United States on the 30th day of June, 1884, and that the interest on the bonds will cease on that day.
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PERFECTLY SOLVENT. The Penn Bank of Pittsburg to Resume in the Morning. PITTSBURG May 22.-Before 9 o'clock this morning a number of men gathered around the entrances of the Penn Bank. Some of them were mere idlers drawn to the spot by curiosity, and they seemed to be surprised that the windows and doors remained in their wonted positions and that building itself had not been sold for scrap iron. Others in the crowd were depositors and after a while they made a run on the bank It was one of the most peculiar runs ever heard of for it was a run to make deposits instead of te withdraw them. Manager Parke, of Liberty Hall, was in the lead and he was quite agrieved because the bank would not accept his daily deposit. A merchant whose business amounts to millions a year. wanted to add $75,000 to the $200,000 he has already in the bank. Every arrangement has been made and the bank will resume in the morning.
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The Penn Bank Re-Opens. PITTSBURG, May 22.-A more complete understanding of the exact condition of the Penn bank, and a feeling that they will be able to pay all liabilities. together with the concerted action of the bankers last night has had a reassuring effect and confidence has to a large extent been restored. It was feared there would be runs on several of the banks reported on the street last night as in a weak condition, but a visit to the alleged shakey institutions at noon found all serene, with checking out not much greater than usual. Bankers express themselves as perfectly able to meet the demands made on them. The officials of Penn's bank are busy today getting affairs into shape for resumption to-morrow. Their clearances were made good to-day, and to-morrow they will open their doors with $600,000 in cash on counters. Many of the largest depositors have signified their intention of allowing their money to lay in the bank, and long before the regular hour for opening this morning a number of the heaviest depositors forced their way to the side entrance and insisted on making deposits; the bank refused to accept, however, until they resume to-morrow.
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THE FAILED FIRMS. sum Struggling to Grasp the Rock of Financial Salvation. Resumption and Compromise-Others Gone Down into the Whirlpool. THE PENN BANK. PITTSBURG, May 22-A more complete understanding of the exact con dition of the Penn bank and a feeling that they will be able to pay all liabilities, together with the concerted action of the bankers last night, has a reassuring effect, and confidence to a large extent has bee restored. It WAS feared that there would be runs on several banks which were reported on the street last night as in a weak condition, but a visit to the alleged shaky institutions at noon found all serene, with the checking out not much greator than usual. Bankers express themselves as perfectly able to meet demands made on them. The officials of the Penn bank are busy to-day getting aftiairs in shape for resumption to-morrow. Their demands were made good to-day, and to-morrow they will open their doors with $600,000 in cash on the counters. Many of the largest depositors have signified their intention of allowing their money to lie in bank, and long before the regular hour for opening this morning, a number of the heaviest depositors forced their way to the side entrance and Insisted on making deposits, which the bank refused to accept, however, until they resume to-morrow.
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The Penn Bank Resumes Payment. PITTSBURG, May 23.-The doors of the Penn Bank were thrown open at half-past 2. The bank was crowded, but there were nearly as many depositors as people drawing out. The doors were kept open until 5 o'clock inorder to satisfy all demands. Long before that hour the run had ceased, and it is expected when the bank opens to-morrow the. scare will be over and business proceed the same as before the suspension. The deposits to-day are said to have been $50,000 in excess of the amount withdrawn. Officials of the bank are preparing evidence, and in a few days will bring suit againt several prominent business men for maliciously circulating the rumors which caused the run on the bank and compelled suspension.
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re FINANCIAL FANCIES. 8 a to THE PENN BANK AGAIN SUSPENDS. The President Prostrated and the Doors Closed. e The Cause of the Second Minfortune-Condle tion of the Instliution-Ferdinand Ward's Schemes-Ills Open Letter to the Pablic. PITTSBURGH, PA., May 26.-The Clearing a House throw out $265,000 of checks of the Penn Bank this morning and again the bank is closed. Exactly what led to this condition of affairs is not definitely known at this time, Yesterday afternoon President Riddle had a long talk with the writer and he was hopeful both as to the bank and his own health. This morning at quarter past ten o'clock he WHB as cheerful as before and said business was going on smoothly. An hour and a half later he lay dying in his room at the Duquesne Club and the bank was closed, the following notice being posted on the panels of its door: "Mr. Riddle, the President and chief executive officer of the bank, having becomesuddenly and seriously ill and unable to communicate with the Board of Directore, it is deemed proper to close the bank under the existing circumstances until he sufficiently recovers to be present in the adjustment of affairs. By ORDER OF THE BOARD." It was impossible to gain admission to the bank. Police officers had charge of the building, and refused to admit any one except the directors. Although there were many large depositors and many who are largely interested in the outcome of the failure among those who sought admission, they were not able to get into the room where the directors were in session. It was impossible to learn just what caused the crash. According to the statement of the bank it had raised $931,000 to pay $918,000 of liabilities. It is said there were $300,000 of certified checks of the bank out, which were not included in the statement of liabilities and which bad to be paid. There has been a quiet run on the bank and it has paid out $300,000 in the last twenty-four business hours. There were eleven banks in the pool which loaned the Penn $310,000, and they are all amply secured against any loss. CAUSE OF MR. RIDDLE'S ILLNESS. What happened in the bank to cause Mr. Riddle's eudden illness is not known. It is evident that large checks were unexpectedly drawn against the bank, and persons who were supposed to be friends of the bank, and willing to aid it, suddenly showed a want of faith It is known that President Riddle was suddenly stricken down with a hemorrhage. He had several small hemorrhages during the week, but W86 up at 6 o'clock this morning, and seemed to be in better and brighter spirits than for several days. There is no doubt that the sudden collapse of the bank was not looked for. The most intimate busineas friends of Mr. Riddle, who had essieted him and were entirely in his confiti dence, knew nothing until the bank was closed and he was prostrated at the club. Mr. Riddle felt most keenly the blow which had fallen upon him, and at the residence of Mr. D. A. Stewart, yeeterday, he said: "There were a couple of days last week when I believed that after all it i was possible for a man to die of a broken heart."
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THE OILED BANK. The Way It Looks Two Days Later. Still Investigating the Affairs of the Late Finest-in-the-City---Prospects for Good Dividends for Depositors Very Slim. PITTSBURG May 29.-So much that was amazing has become known in connection with the failure of the Penn Bank, that it would take something quite out of the ordinary to excite even a ripple of interest. The rumors which are afloat to-day are ugly ones in part. It is said that although there was over $10,000 in the hands of the bank when it closed the amount which was turned over to the assignee was not quite $4,000. It is also said there has been a great shrinkage in the amount of securities, and that there is not as much be half in the way of collateral and securities in the bank now as there was on Saturday night, or even when it closed its doers finally This has had a very bad effect the men who toward are not friendly upon de the much bank. have and aid they been it. feeling disposed to to Among other barrels of for a rtwo oil things were bought it is said the that bank 300,000 day before checks are out for of it the closed. bank and that in the payment certified the same There is no trace of this oil, although the certificates ought to be in the bank now. Re-hypotheenting. It is asserted by oil brokers that the bank was in the habit when it carried the accountst the Oil Exchange of re-hypotheeating the oil held by it for their customers. Among the facts discovered by the directors is that a very large amount of securities, reaching a sum between $200,000 and $250,000 were sent on to New York by President Riddle as collateral for notes which were being floated in New York It is thought he was floating a large amount of paper in New York and eisewhere and that the sudden contraction in the money market caused the trouble The Pictitions Firms. The individual bookkeeper, George W. asked directors Rowley, the fictitions Jr. was upon and his particularly other examination overdrawn in regard by the to accounts. He replied that he could have told the board as to them 'long ago, but he had been engaged by President Riddle and he did not consider it his business to report to M. acin never to any counts keeper. other J. question authority. Young. had The stated general been that sent the bookhim for entry The usual bookkeeping customary in banks requires that that this should have been done. and had the rule been complied with the directors might have discovered the looseness before the great break came A Statement Coming. Some of the directors stated this morning that overdrafts reach over a million but about $150,000 of this is legitimate being the overchecking of responsible de positors business men who will make their accounts good. Everything however, they said was in such confusion that they were not in a position to produce a definite statement at this time. John Dalzell, Esq., counsel for President Riddle, declined to to to answer bank any affairs, questions but put stated him that relative the a statement by Mr. Riddle is in preparation and will be forthcoming in a few days. Asks Suspension of Judgment. President Riddle in a card published to day asks for a suspension of judgment uniil he is able to make a statement Lucky Fellows. On Monday morning last two diseansolate looking bankers sat in the rotur la of the Monongahela House looking and wait had an an they it in true ing. were They executing just conceived Napoleonic idea had each for their had sent up by and were see messengers style. balances: They drawn waiting them checks to what the harvest would be Both entlemen assert that they collected their balances in full. but a director of the bank says not. He SAVS that one (a banker of Washington Pa..) who had on when has thus far out $101,000 only deposit gotten the $20,000 bank of broke, Cleve the The other Rose, is amount land, ex-Mayor gentleman said by the from director of to have only secured a small portion his balance. There is little doubt. however the money which was said by some to have been a MonHouse was in Rose's papers ongahela that deposit reality by Mr. the money which was being drawn out.
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THE BROKEN PENN BANK. The Concern Was Wrecked by Its President, Whose Assets Have Disappeared. PITTSBURG, May 30.-An intimate friend of George W. Rowley, individual book-keeper for the Penn Bank, made a statement for him, today, that the checks on D. Wilson & Co., Hill & Co., and Watson & Co., the mythical firms, were drawn and signed by President Riddle, and that the latter represented all these firms. The blind pool lost over $4,000,000 in oil, and the overdrafts on the bank aggregate $1,300,000. Riddle, who at one time possessed $400,000, lost it in oil. The rumor that the Pennsylvania Protective Association is seriously involved by the failure is denied. The association had $4,000 deposited in the bank when the doors were closed, but no claims have ever been rejected, and they will continue business. Notices have been served on the directors for a meeting on Saturday morning. to prepare a statement for the members, which will be published on the 5th of June. Thos. J. Watson, an oil broker whose account was overdrawn $97,000, left suddenly for New York this evening with his wife. Detectives have been shadowing his house for two days, and telegrams have been sent East to arrest him for conspiracy. There is great excitement to-night, and other arrests are expected Search is being made for about $200,000 worth of securities sent East on Friday or Saturday, and of which there is no trace. Attorneys are examining a big box of papers found in the bank which may throw some light on the oil operations of the. bank and explain many things which are muchtalked of mysteries at this time. Nearly all the assets of Mr. Riddle which are valuable were disposed of weeks ago. Those turned over were those on which money could not be speedily obtained. A special from Harmony, Pa., says the Harmony Savings Bank closed its doors yesterday, owing to its money being tied up in the Penn Bank. As it was known this bank did business with the Penn Bank, a run was feared, and it was deemed best by the officers to close before the rush should commence. There was no state ment of liabilities, but they are believed to be small.
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GENERAL NEWS. The billiard match in Chicago between Slosson and Senafer Saturday night, champions game, 800 points, was won by the former, who ran out on the 25th inning. Schaefer SCO ed 687. Depositors in the Union bank at Greensburg, Pa., will receive three cents on a dollar. Cashier Hoyt, of the Butter county, Pa., savings bank, is short $22,000 in his accounts. President Arthur left New York for Washington Laturday afternoon Samuel M Shoemaker, the pioneer in the express business of the country, and one of the organizers of Adams' Express Co., died in Baltimore Saturday night, aged 64. Doctor Strausberg, the well known financier of Berlin, is dead. The rolling mills in the vicinity of Cincinnati all shut down Saturday night, throwing 3000 men out of employment. Ricker's store, the Knights Templar Hall and three dwellings were burned at Paducah, Ky., Saturday night. Loss $50,000. Mr. Levi Lincoln Thaxter, husband of Mrs. Celia Thaxter, died in Boston Saturday, at the age of 60. He was a fine scholor and critic, and was devoted especially to Greek literature and the poetry of Robt. Browning. He had appeared as a reader of Browning upon the platform, as well as in private circies, and was an enthusiastic admirer and interpreter of that writer. His home was at Kittery, on the shore opposite the Isle of Shoals, but his winters were mainly spent in Boston. John C. Eno, the absconding president of the Second National Bank of New York, was arrested in Quebec, Saturday, on board the Vancouver, just as she was about to leave for England. Eno refuses to return to the United States voluntarily, and his extradition will be attempted. In a drunken row in Springfield, Mass, Saturday night, James O'Brien stabbed P. Murphy savagely in the head, face, 8 de and leg and then escaped. Five bodies have thus far been recovered from the ruins of the collapsed buildiug in Baltimore and three are yet under the wreck. The decay of a large girder caused the disaster. "Rufe" Minor, a noted bank robber has been arrested in New York. He is credited with having "cracked" banks in nearly every section of the country Three men were killed by the explosion of a boiler Saturday in a Detroit. Mich., mill. Four others were seriously injured, one of whom will die. Cashier Reiber and President Riddle of the Penn bank, Pittsburg, Pa., have been placed under arrest. The despatch sentfrom Hanover, N. H., Friday, announcing the suspension of two Dartmouth col lege editors was erroneous. 1 he trustees were recommended to withhold their diplomas but have taken no action.
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NEWS OF THE WEEK Eastern and Middle States HENRY WARD, a resident of Philadelphia, was knocked down, jumped upon and bitten to death by a large hog that he owned. THREE boys, aged respectively seventeen, twelve and eleven years, were drowned by the upsetting of a raft which they were propelling on Beaver river, at Croghan, N. Y. THE loss of life among Gloucester (Mass.) fishermen since August 1, 1883, caused by the heavy gales on the fishing banks, has now reached a total of 254 men, the largest loss recorded from that port in any year. The dead of the past winter have left seventy widows and 134 fatherless children. The disastrous winter fisheries were first opened in 1830, and since that time 447 vessels and 2,000 lives have been sacrificed in the fisheries centered at Gloucester. A PITTSBURG (Penn.) dispatch says that disgraceful disclosures have been made concerning the affairs of the suspended Penn bank, and that depositors will be fortunate if they get five per cent. of their deposits. Many fictitious deposits with capitalists have been unearthed, and it is charged that much money was lost in oil speculation. A deficiency of over $1,250,000 was discovered. THE Glendower iron company, of Danville, Penn., has failed for about $200,000. BROOKLYN real estate is valued at $291,000,000, an increase of $10,000,000 over last year. PRESIDENT ARTHUR reviewed the large parade in New York on Decoration day, and listened to General B. F. Butler's oration before the Grand Army posts in the Academy of Music at night. All the cemeteries around New York were visited by throngs, and the e graves were covered with flowers
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J. F. HOYT, cashier of the Butler Sav600'553 s1 and "Rush assuy sig up saoes Ex-PRESIDENT Eso of the Second National Bank of New York, was arrested at returned eq pus *3*18 em no Pagend T to New York provided a hole big enough 02 em ⑉ punoj eq use get him through. CHRISTOPHER DOYLE. the hero whosaved fifteen women and children from drowning at the time of the Tiveli disaster, near 1ˢᵗ em no ренмолр SWAY sailing in Curtis Caeek. VICE-PRESIDENT John B. Carson, of the St. Joseph Railway, has been appointed General Manager of the Louisville, New et Albany & Chicago line. REV. FATHER P. J. GLEASON, of St. Louis, Mo., having been restored by the Propaganda at Rome to his pastoral funecharge the 01 Denner 01 08 IIIM eq "suon church . 20 O'DONOVAN ROSSA asserts that the recent London explosions are but the beginJuou the up pessedxe eq Aven the JO Suju future. ON the 2d statues of Garibaldi were unveiled in Italy, and the anniversary of his death celebrated. M. L. BUNDY, of Newcastle, Ind., has been appointed receiver of the Hot Springs Bank POPS LEO is much exercised over votes in the French Senate and House of Deputies granting divorce, and rendering seminarians liable to military service. IT is charged by President Riddle of the Penn Bank, Pittsburgh, Pa., that the collapse of the institution was due to the directors' connection with the oil pool. A JUDGMENT has been obtained against Dr. J. H. McLean for legal services rendered him in his contest for Colonel Broadup 1998 speat THE Quebec authorities on the 24 discharged from arrest John C. Eno, ex-President of the Second National Bank, New York, on account of a fatally defective paSpot PUB SUM an anq "II" " JOHN STEWART PARNELL, President of the Irish National League of Ireland, sends to Sullivan, President of the American League, a letter of thanks for contributions from the United States, to be used in the suopere Supproadde *0140 10 has disbanded the Fourth Regiment of Infantry, Ohio National Guard, for inefficiency at the Cincinnati riots, and partialem SE " AI -0,1 OUM officers eq: JO eq: Jepun ported for duty at the riots. -ng eng 10 "I S3KVP agent perior Court at Fort Wayne, Ind., died 10 III us Jerse 'PT ey: 30 2q2yu ens no three weeks. His age was sixty-five. -euju Court our 10 aspar SUM "H ablest em su SUM pus 'ssued usa; lawyer that had ever graced the bench. siq pus Improved SEAL pujm SH terse, compact and energetic style gave to enjua CRIMES AND CASUALTIES. 18 AUM PARZ BceHoB . 4:85 eqs NO Knupp's tunnel. near Ligonier, Pa., killSupering puw ueur enju But Reed. em uo snojes . 4100 eqs NO reported. SUM Prod zur u! " 30 Julling eqs 4:05 eqs NO XIS 10 drath the pesnes "PM persons and serious injuries to others. Other victims supposed to be buried rujns om III AT Dallas, Tex., Oliver B. Taylor, charged with robbing the United States mails, has been lodged in jail. AT Rhuampenk, capital of Cambodia, fire destroyed the whole quarter outside the French concession. The King lost 105 B 4708 eq: 10 Sujueze equal so explosion occurred outsideof the detective office at Scotland Yard, London. One building was demolished and several persons were injured. 10 цвшом Insure us 4708 eq: NO N. Y., imitated Mrs. Edmunds, of St. Louis, by cutting the throats of her four children and then dragging a nine-yearold child to the railroad track with her, where both were killed by a passing train. 28 breaker USIS eqs NO result 4q 000'91$ SUM "O "pust AT Lille, France, a balloon accident, on the 1st, resulted in the death of three persons and serious injury to others. Jedeey-Nooq 'M 9 3*12 the NO in the Marathon County Bank, Wausau, "f 194 РОШЕМ pus soys ***IM Beales, the messenger. No cause as: "peuzis ON the 2d a horrible murder of a family 1 -0.1 FEM "sea Jeau 'epdoad 10 1 ported. A NOTORIOUS burglar, known as "Recky I 'PG our no "O 18 решя SEAL "ma by Henry Seitz. By the careless tapping of a blast at the usm 0.453 PT am no "IIIII Jolling were killed. A SERIOUS election riot occurred in -Jad Sixis :pg our no sons were injured. I go shoold A e SUM there Po equ NO earthquake on the Island of Khisin, near the mouth of the Persian Gulf. Twelve
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BROKER WATSON GORED. HIS BULLISH RAID ON OIL ENDS IN DISASTER. Light at Last Let in on the Ruin Wrought by the Middletons Behind the Desk at Washington-W. P. Dickson Named as Assignee for the Morgans-Other Commercial Complications. PITTSBURG, June 25.-Great excitement was occasioned in oil circles here to-day by the failure of Thomas F. Watson, the heaviest dealer on the floor of the exchange. He has been heavily "short" for some weeks, and this morning was unable to fulfill a contract for the delivery of 77,000 barrels. His shortage was $11,000. Watson was prominently connected with the Penn Bank muddle, and is under bail, charged with conspiracy to defraud that bank. When the bank closed his account was found to be $97,000 overdrawn. Watson was a fearless operator, and has been "bearing" the market since the bank's failure. THE MIDDLETON STATEMENT. WASHINGTON, June 25.-The statement of the assignee who has been examining the books of Middleton & Co., the bankers who failed in this city recently, was made public to-night. It shows the total liabilities to be $465,000; the face value of the assets $374,311, of which $70,304 represents the value of such as are considered good, and $6,312 the value of such as there is a possibility of realizing upon. Among the total losses are individual overdrafts amounting to $168,957. The cash found in the bank's assets amounted to $305. A HOTEL ASSOCIATION ASSIGNS. ST. LOUIS, June 25.-The Lindell Hotel Association has made an assignment to James L. Huse for the benefit of its creditors. The assets and liabilities are unknown. The association is composed of Charles R. Scudder, Henry Ames and J. H. Chassaing. ROME BANKERS FAIL. ROME, GA., June 25.-R. T. and C.B. Hargrave, bankers, failed to-day. Their liabilities are $60,000 and the nominal assets $75,000. The stringency of the money market caused the failure. THE MORGAN FAILURE. NEW YORK, June 25.-Matthew Morgan's Sons have assigned to W. P. Dickson.
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AN INTERESTING SUIT WITH THE PINN.BANK FOR A PARTY. The Dispute Between the Assignee and Directors of Pittsburgh's Defunct Bask Indirectly at lieus is a Wherling Court-A Complicated Case Before a Wheeling Equire. There was an Interesting sult in Equire W. Caldwell's court yesterday, in which, although the sam involved was comparatively small, all the questions now In dispute over the affairs of the bankrupt Penn Bank were directly or Indirectly at lastie. The parties to the suit were Charles 0 Emmons, of Pitts. burgh, n depositor in thelate bank, Thomas Hare, one of the Directors, and Ed. ward L. Hose, agent in this city of the Howe Bewlog Machine Company. Home time before the Pean Bank suspended payment the Howe Bewing Machine Company, through its agent at Pittsburgh, drew on Mr. Rose for $900 due on account, and taking the draft to the Penn Bank, had It discounted, the draft thus ber coming the property of the bank. The bank a afterwards suspended, but, as will be rememd bered by the public, reopened its doors in a K few days, having In the meantime secured enough money by loans, as was supposed, to tide the institution over its difficulties. Itis e claimed by interested parties that after re' opening the doors of the bank the members 8 of the Board of Directors quietly and quickly withdrew all money on deposit to their Indi10 vidual credit, and then again suspended. At any rate the back W:B open only a few days. d after the second suspension Charles C. Emmons, of Pittsburgh, came to thiscity and d entered suit against the Penn Bank, for n $209 33, due him as a depositor, and gar1 maheed the monay due on the draft in Mr. 1. Rose's hands. Mr. Rose answered that he le had funds belonging 10 the bank, and judg. ment was given in favor of Mr. Emminous k against the bank. n, n The Howe Bewing Machine Company also 1⑈ had a claim against the bank for $180.73, d which claim It transferred to д. W. Donel, book-keeper in the fillse here, and he sued in Squira Caldwell's court and garnisheed ce the funds of the bank in Mr. Rose's pornesd sion. Judgment was also given in this case. 10 Yesterday Mr. Hare, one of the Directors n of the Penn Bank, attempted In Squire = Caldwell's court to prevent the payment by e Mr. Rose of the claims of Messra. Emmons and Donel, alleging that the draft upon Mr. d Rose purchased by the bank had come into his possession before the funds were garnie, sheed, and that the money held by Mr. Rose is was really not the property of the bank, but his individual property. Mr. Hubbard ap0, peared for Mr. Hare and Mr. Dovener for Γ. Mr. Emmons. It was sought by Mr. Hubbard to have Mr. Rose amend his answer and deny 18 that he had any money belonging to the à Penn bank, but this he declined to do. Mr. Hare's only recourse, therefore, is a suit against Mr. Hose to recover on the draft. In the meantime the assignnee of the Penn bank, Henry Warner, has entered suit at 18 Pittsburgh against the members of the Board of Directors, to recover money drawn from 10 the bank by them after the first suspension. If this suit is auccessful Mr. Hare's claim to da the draft on Mr. Hose falls to the ground.
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THE ringleaders of the Turkish mutiny at Assiout have been sent to Cairo. The Mudir's failure to suppress the mutiny is considered suspicious. THE Sixth District Republicans of Ohio have nominated H. C. Glenn for Congress and James C. Holcomb for Presidential elector. O. C. MERRIAM, a wealthy lumberman of Minneapolis, has been nominated for Congress by the Minnesota Democrats of the Fourth District. THE Cabinet discussed the question of preventing the introduction of cholera from foreign ports on the 18th. THE Philadelphia cricketers defeated the first eleven of Surrey, Eng., on the 18th. YELLOW FEVER has broken out at Panama. JAMES G. BLAINE'S letter of acceptance of the nomination was given to the public on the 19th. F. SCHULTZE has been confirmed prorector of the North American College at Rome. DAN PARKER and Robert Hunt were hanged on the 18th, at Greenville, Miss. A NEW counterfeit $10 Treasury note has been turned loose upon the country. CUMMINGS NELSON was hanged at Houma, La., on the 18th, for the murder of John Martin. THE Dutch State Council has declared for Queen Emma as regent during the minority of Princess Wilhelmina. THERE are rumors of apprehended trouble between the cowboys of Colorado and the Utes. A FIREAGAIN devastated Cedar Springs, Mich., on the 18ch. Three men and a boy were burned to death. AT Marseilles, during the twenty-four hours ended the evening of the 18th, the deaths numbered fifty-eight; at Toulon sixteen. DR. SCHWEINFURTH, the German African explorer and traveler, has called upon England to send relief to Gordon. PROF. F. SOLDAN, of St. Louis, Mo., has been chosen President of the National Teachers' Association. HENRY BLOOM, Baltimore & Ohio express messenger at Pittsburgh, Pa., has been arrested for the theft of $10,000. A COMPANY has been formed at Pittsburgh, Pa., for the purpose of building and operating a creamatory. SAM WILLIAMS, colored, was hanged at Waynesboro, Ga., on the 18th, for a murder committed last October. MATTHEW ARNOLD'S eldest daughter is engaged to be married to Frederick Whitledge, a young lawyer of New York. GOVERNOR CLEVELAND and staff visited the State military encampment at Poughkeepsie, N. Y., on the 18th, and gave a reception. ONE of the sons of United States Consul Pratt at Cork was drowned while boating at Queenstown. The other was rescued. THE plague has made its appearance at Kahrs, being imported from Persia. All Moslem pilgrimages are to be stopped. Two freight trains on the Pennsylvania Railroad collided near Bainbridge, Pa., on the 18th, wrecking the trains but injuring nobody. THE Catholic societies of Philadelphia have made elaborate preparations for the reception of Archbishop Ryan. FIVE alleged cases of cholera in New York tenements on the 18th proved, upon investigation, to be but children's summer complaint. A LAND cave buried seven menin a well at Raleigh, N. C., on the 18th. Three were rescued and workmen were still digging for the others. LONDON health officers are organizing a hospital service in the event of the appearance of cholera. Italy and Switzerland will combine on defensive measures against the scourge. CASHIER REIBER of the Penn Bank, of Pittsburgh, Pa., says the bank was never legally organized and believes the directors drew over-drafts. THE A. and J. C. S. Harrison Bank at Indianapolis has closed, and one of the proprietors calls for the appointment of a receiver. JOHN CONNORS, supposed to have mur dered Supervisor Casey at Troy, N. Y., has been captured at Kansas City, after evading arrest for years. THE President has appointed R. A. Fiske' of California; John Trowbridge, of Mary. land, and Geo. F. Barker, of Pennsylvania, Commissioners to the National Conference of Electricians.
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The Penn Bank's Affairs. PITTSBURG, Sept. 2.-R. M. Kennedy to-day filed an affidavit of defense to the suit of State Treasurer Baily against the directors ot the defunct Penn Bank to recover on the bonds given by the directors as security for the deposit of State funds amounting to $10,000. Kennedy disclaims liability as a signer of the bond, and disputes the commonwealth's right to a receiver. In the suit of the Penn Bank against him to recover $66,000 overdrafts, Kennedy also makes a detense, claiming that he never received overdrafts and had no knowledge of them until after the close of the bank.
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FAILURES IN BUSINESS. Private Bankers of Cincinnati Assign Owing Many Benevolent Societies. CINCINNATI, Oct. 13.-S. S. Davis & Co., private bankers, made an assignment to T. C. Campbell to-day. Their liabilities are estimated at $60,000, and the assets at $15,000. Among the liabilities are a number of trusts of benevolent and secret society organizations. ASSIGNED TO SECURE AN EXTENSION. CHATTANOOGA, TENN.. Oct. 13.-Eugene Hammel, dealer in ladies' and gentlemen's furnishing goods, has made an assignment. His liabilities are $12,000, and his assets $10,000. The assignment was made to obtain an extension of time, and he will reopen. INDICTMENTS IN THE PENN BANK CASES. PITTSBURG, PA., Oct. 13.-The grand jury to-day found a true bill against President Riddle and Cashier Reiber, of the defunct Penn Bank, for conspiracy and the embezzlement of $1,200,000, and against L. J. Watson, the oil broker, for conspiracy to defraud the Penn Bank depositors. A BATCH OF ASSIGNMENTS. CHICAGO, Oct. 13. -Morgan Roth & Co., dealers in gentlemen's furnishing goods, were closed by the Sheriff to-day. Their liabilities are $35,000 and the assets about $23,000. Zimmerman & Co., cloak manufacturers, to-day made an assignment. Their liabilities are $80,000 and the assets $55,000. Wardell & Hinckley, dealers in machinery and engines, were closed to-day by the Sheriff. Their liabilities amount to $25,000 and assets to $18,000.
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BUSINESS FAILURES. Oliver Bros. & Phillips- The Penn Bank Case-Other Failures. PITTSBURG, Jan. 17.-There continues to be much gossip about Oliver Bros. & Phillips' suspension. The impression is growing that the firm thought it best to suspend, and did so voluntarily. They concluded that it was uselese to endeavor to carry their debt load any longer in the face of the present condition of trade. H. W. Oliver has been hypothecating his securities since last May, and so have the other members of the firm. Mr. Oliver put up part of his holding in the Pittsburg & Western stock in Pittsburg, but most of it is held as collateral in New York. PITTSBURG, Jan. 17.-A declaration has been filed in the case of the Penn Bank, for the use of the assignee, against the directors of the defunct institution, in which the damage is laid at $6,000,000. The suit, however, is simply the bringing up of the old question of liability in a new form, and in reality involves only the amount of over drafts, which is less than $900,000. D. W. C. Carroll has made an assignment ef all his property, real, personal and mixed, valued at several hundred thousand dollars, LO John Ben. ford, for the benefit of creditors The limited partnership, now operating the Fort Pitt Botler Works, under the firm name of D. W. C. Carroll & Co., is not affected, the partners state, by this assignment. Henry M. Breckenridge, of Harrison Township, vinegar manufacturer, has assigned to 4. Erastus McKelvey. The chief item of the schedule is 617 acres of ground in Harrison Township. Jadgments aggregating $15,000 have been entered against Breckenridge and executions issued. The assignee states that creditors will be paid in full.
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SUNDAY'S NEWS IN BRIEF. Domestic. Alexander Dirjan, manufacturer of moldings, Brooklyn, assigned. Liabilities, $66,000. Eugene Glenn, tried at Petersburg, Va., for the murder of C. W. Holland, was acquitted. A gang of three counterfeiters was captured in a small secluded cabin, near Bourbon, Ind. The banking houses of Amos Henderson. Lancaster, Pa., with $200,000 deposits, suspended. The cold wave checked the rise in the Ohio and its branches and averted a threatened flood. The imports of specie for the week ending Jan. 18, were $240,000, and the exports $6,290,000. The pallium for Archbishop Leroy, of New Orleans, was received and conferred Saturday, Jan. 17. The Houston Spring-wagon Works. Columbus, O., were destroyed by fire. Loss, $75,000; insurance, $50,000. A special Chicago jury returned indictments against seven of the participants in the election frauds of that city. Herman Toller was struck by an engine on the Cincinnati Northern Railway, near Montgomery road, and instantly killed. Efforts are being made to impeach Judge Frank A. Guthries, of Charleston. W. Va. There are flfteen charges against him. The revised figures of the loss by the fire at Keefer & Son's flour mill, Covington, Ky., are $65,000. The insurance is $52,000. The boiler at Earnest's saw mill, near Lebanon, Pa., exploded and killed three workmen, and seriously injured three others, Work in the Sunday Creek Valley (Corning, 0.) mines is going on quietly. The miners are being paid seventy cents a ton, and ask no more. D. E. Swan, an embezzler of the funds of the Northern Pacific Railway Company, has been sentenced to the penitentiary for thirteen years and six months. John Berbech, of St. Louis, committed suicide by jumping off the middle pier of the bridge over the Mississippi. The distance to the water was seventy feet. He had just been fined $500 for adultry. James F. Collins, of Cadez, O., who absconded with his accounts with the Adams Express Company and the P., C. & St. L. Railway Company, short about $3,600, was captured in New Orleans and brought back home. An attempt was made to blow up the hat factory of Crofut & Knapps, Bridgeport, Cor with dynamite. The building was partly damaged, but no one was hurt. Seventeen employes who did not go out on the strike were in the building at the time. Declarations have been filed in the case of the Penn Bank of Pittsburg for the use of Assignee Warner against the directors of the defunct institution, in whict the damages are laid at $6,000,000. The amount in reality involved is $900,000, being overdrafts. John Kurtz and James Hyland, two farmers residing near Middlesex, Pa, quarreled in the home of the former, after becoming intoxicated on hard cider, The latter, on being ejected from the house, returned armed with an ax, broke in the door and killed Kurtz.
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The Defunct Penn Bank. PITTSBURG, Feb. 28.-In the suit of Assignee Warren against the Directors of the defunct Penn Bank, to recover $450,000 of securities which were taken by the Directors to indemnify them for personal notes given as security to associated banks for a loan to tide over the first suspension, Master George P. Hamilton has completed his report. The ground taken by the assignee was that the securities belonged to the stockholders and depositors, and the Directors had no right to seize them to secure themselves. The text of the decision has not been filed. but it is generally known to be in favor of the Directors.
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# HOTEL GOSSIP AND STRAY CHAT. Senator Camden, of West Virginia, with his white chin whiskers and mustache, in which there is generally a trace of the constant chewing of tobacco, is often seen in New-York. He is slightly stoop-shoul- dered. In conversation he is one of the everyday men- common, plain and sensible. I was chatting with him on Monday about the inquiries made by the Senate Com- mittees for information from the Executive branch of the Government, when he said: "This is all poitties, of course-sparring fer position. Every one understands that. My own view of the matter is that the Senate has no right to ask the President his reasons for the suspen- pension of an officer. That act is his Presidential and ex- ecutive prerogative. If a Senator votes for a confirmation or against a confirmation no one has the right to ask him for the reasons why he so voted. That is the Senatorial prerogative. If the Senate should ask the President for his reason for suspending an official he has only to an- swer that he did it for reasons satisfactory to himself and for the good of the service. Then he has the Senate in a hole. The Senate has, however, a right to all the information regarding an appointment that is submitted for confirmation. It has also a right to any information from the Departments, unless, possibly, from the State Department in the matter of secret negotiations within the province of the President and the Secretary of State." I fell into conversation with the Senator about the charges made in regard to the election of Senator Payne of Ohio, when he said: "Although I have been actively engaged in politics and political movements of all kinds for over twenty years, I have never in all that time known of any transaction that amounted to the direct sale or purchase of a vote. I do not believe we are any more virtuous in West Virginia than they are in Ohio, or In other States. I have known money to be spent freely in politics in various ways by which votes were in- fluenced and secured. We pay the bright men to organ- ize their friends, and as it takes time for the work the pay is generally liberal. So it is customary to pay the expenses of men running for the Legislature who can- not afford to go into that body for the mere pittance that is paid them. But such things are always done through the committees. I am inclined to think that this talk about buying members at Columbus has come about through the fact that several of the men who were there to advocate Mr. Payne's election are in the habit of spending money lavishly in their everyday affairs. They spent money liberally at Columbus and paid the expenses of large numbers of persons to stay there and help them in their fight. They may have paid the expenses of persons who went over the State in Mr. Payne's Interest. These men who went over the State may have been members of the Legislature. But I do not believe that any member of the Legislature received a dollar for his vote. I am positive too, that Senator Payne himself had nothing whatever to do even with the pay- ment of the expenses such as I have suggested." Mayor Fulton, of Pittsburg, who is at the Hoffman House, has a big face of hatchet shape, smooth- shaven, and a powerful frame. He was a bell founder before he became Mayor, and showed me proudly the other day that the callouses were still on his hands. He was backed for the Mayoralty by "Chris." Magee and received the labor vote. He isn't exactly a moralist, and there were people in Pittsburg who held up their hands in horror at the idea of making him the city's chief ex- ecutive, since he has been in office, so I am told by Pittsburgers who opposed his election, he has managed the city affairs with an iron hand and a grasp that has not only astonished his opponents, but has created genuine admiration for him. There has even been talk of running him for Governor, but he has stopped it by the emphatic declaration that he knows enough to run a Mayor's office, but would have to let other men run the Governor's office if he were put there, and that he does not propose to undertake any business or accept any office that he cannot run himself. A Pittsburg man, who has recently come to New- York to live, is W. N. Riddle, the old president of the Penn Bank, about the failure of which there was so much scandal. Mr. Riddle came out of the affair with flying colors, it being shown that after the bank had become involved through the fault of others he put up his entire private fortune in the effort to save the bank. John A. Griffith told me yesterday that within two weeks all the suits that were brought against Mr. Riddle, growing out of the bank failure, have been withdrawn by the prosecutors. The evidence was so conclusive in Mr. Riddle's favor that the statement was made in open court that this was the reason for withdrawing the suits. I am told that the Young Men's Republican Club is negotiating for the lease of the old St. Nicholas Club house near Madison Square as a permanent head quarters. Don M. Dickinson, the Democratic dictator of Michi- gan, made a flying trip through New-York to Washing- ton on Tuesday. His mission, I am told, is to present evidence which he says will clear Judge Powers of Utah from charges of a serious nature made against Lim since his appointment.