b4d88a65Accommodated withdrawals, Full suspension
Other: Receivers were appointed; president arrested on embezzlement charges.
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TRUST COMPANY IN TROUBLE. Westchester, Pa., Feb. 3.-The Chester County Guarantee Trust and Safe Deposit Company is'in financial straits, and nnless a proposition which has been submitted to the certificate holders and depositors of the company is accepted, it will go into the hands of a receiver. A large amount of the funds of the bank is locked up in investments, and the impossibility of realizing at once on these securities was the cause of the trouble.
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Was Finally Successful. HORNELLSVILLE, N. Y., Feb. 3.-Samuel Van Winkle was found hanging to a stepladder in his tailor shop on Broad street. He was nearly 80 years old and of intemperate habits. This was his third attempt at self destruction. Trust Company Fails. WEST CHESTER, Pa., Feb. 3.-The Chester County Guarantee Trust and Safe Deposit company of this place, claiming assets aggregating $1,000,000 and with deposits of $500,000, has suspended business. The directors claim that it is solvent and will pay all indebtedness if given time. There has been a run on the company for two weeks, in which time $76,000 was paid out. The run is said to have resulted from failure. to protect the stock at a recent sale when it was offered without a bid being received. Ex-Congressman Smedley Darlington is said to hold $200,000 of the stock. The amount of the liabilities is not known
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timore Evening News, and Associated Press Dispatches. The flour mills of the C. A. Gambrill Manufacturing Company, at Orange Grove, Howard county, will dispense with half its working force on the first of March. These mills give employment usually to about thirty men, and there are as many more coopers making flour barrels for the product of the mills. Twenty or thirty men altogether will be thrown out of work. Wm. E. Cotton, tinner and plumber, Baltimore. Md., has failed. The Henry Sears Company, of Chicago, wholesale dealers in cutlery and hardware, assigned Tuesday. Liabilities about $50,000 and assets $80,000. The Moscow, Idaho, National Bank has been closed by the bank examiner. E. C. Hodges & Co., bankers, Boston, Mass., have failed. The Pennsylvania Lead Company, of Pittsburg, went into the hands of receivers on Tuesday. The application was made by Geo. S. Griscom, as trustee, and H. E. Anderson, who set forth in the bill that the defendant company is indebted to Griscom in the amount of $968,060. and that Anderson holds 100 shares of its capital stock of a par value of $100. The Chester County Guarantee, Trust and Safe Deposit Company, of Westchester, Pa., claiming assets aggregating $1,000,000, and with deposits of $500,000, suspended business on Tuesday. The directors claim that it is solvent and will pay all indebtedness, if given time. There has been a run on the company for two weeks, in which time $76,000 were paid out. At Sterling, III., on Tuesday the extensive works of the Keystone Manufacturing Company, were closed by the sheriff. On application made by creditors in the Cleveland (0.) Common Pleas Court, W. D. Sayle was appointed receiver for the Ajax Manufacturing Company. The liabilities of the company are placed at $37,500 and assets at $85,000. In Louisville, Ky., S. T. Moore & Co., doing an extensive business as manufacturers'. agents and housefurnishers, have assigned. In Chicago the Lonis K. Comstock Company, contractors for electrical works, have assigned. Two judgments, aggregating $4,925, have been entered against Max Oppenheimer & Co., furniture dealers, New York, and executions against their property were issued to the sheriff. A Butte, Montana, despatch, says that a strike, inaugurated on the Butte, Anaconda and Pacific Road by thirty members of the freight crews, on Tuesday night, because one of their number was discharged. threatens to result in a closing down of all the Anaconda Mining properties, which are dependent on the road for supplies, and the enforced idleness of over 6000 men. The labor unions are opposed to the strike. The entire force in the Chicago and Southeastern Railway shops at Lebanon, Indiana. struck on Tuesday for seven months' back pay. As a result the entire road is tied up. The employes III the tin manufacturing plant of Norton Bros., Maywood, Illinois, struck on Tuesday against a ten per cent. reduction in wages. A compromise was subsequently reached, the men accepting a ent of five per cent. The works of the Case Threshing Machine Company at Racine, Wisconsin, are to resume operations next week, after six months' shut down. The United States Rubber Company's factory at Millville, Massachusetts, will close on Saturday night for an indefinite period, owing, it is stated, to over production of rubber boots. Eight hundred people have been employed there on short time for the past few months, following almost a year's idleness.
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More Prosperity(?) Compiled from the New York Sun, Philadelphia Ledger, Baltimore Sun, Baltimore American, Baltimore Evening News, and Associated Press Dispatches. The flour mills of the C. A. Gambrill Manufacturing Company, at Orange Grove, Howard county, will dispense with half its working force on the first of March. These mills give employment usually to about thirty men, and there are as many more coopers making flour barrels for the product of the mills. Twenty or thirty men altogether will be thrown out of work. Wm. E. Cotton, tinner and plumber, Baltimore. Md., has failed. The Henry Sears Company, of Chicago, wholesale dealers in cutlery and hardware, assigned Tuesday. Liabilities about $50,000 and assets $80,000. The Moscow, Idaho, National Bank has been closed by the bank examiner. E. C. Hodges & Co., bankers, Boston, Mass., have failed. The Pennsylvania Lead Company, of Pittsburg, went into the hands of receivers on Tuesday. The application was made by Geo. S. Griscom, as trustee. and H. E. Anderson, who set forth in the bill that the defendant company is indebted to Griscom in the amount of $968,060. and that Anderson holds 100 shares of its capital stock of a par value of $100. The Chester County Guarantee, Trust and Safe Deposit Company, of Westchester, Pa., claiming assets aggregating $1,000,000, and with deposits of $500,000, suspended business on Tuesday. The directors claim that it is solvent and will pay all indebtedness, if given time. There has been a run on the company for two weeks, in which time $76,000 were paid out. At Sterling, III., on Tuesday the extensive works of the Keystone Manufacturing Company, were closed by the sheriff. On application made by creditors in the Cleveland (0.) Common Pleas Court, W. D. Sayle was appointed receiver for the Ajax Manufacturing Company. The liabilities of the company are placed at $87,500 and assets at $35,000. In Louisville, Ky., S. T. Moore & Co., doing an extensive business as manufacturers' agents and housefurnishers, have assigned. In Chicago the Louis K. Comstock Company, contractors for electrical works. have assigned. Two judgments, aggregating $4,925, have been entered against Max Oppenheimer & Co., furniture dealers. New York, and executions against their property were issued to the sheriff. A Butte, Montana, despatch, says that a strike, inaugurated on the Butte, Anaconda and Pacific Road by thirty members of the freight crews. on Tuesday night, because one of their number was discharged. threatens to result in a closing down of all the Anaconda Mining properties, which are dependent on the road for supplies, and the enforced idleness of over 6000 men. The labor unions are opposed to the strike. The entire force in the Chicago and Southeastern Railway shops at Lebanon. Indiana. struck on Tuesday for seven months' back pay. As a result the entire road is tied "P. The employes III the tin manufacturing plant of Norton Bros., Maywood, Illinois, struck on Tuesday against a ten per cent. reduction in wages. A compromise was subsequently reached. the men accepting a cut of five per cent.
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ITS DIFFICULTIES INCREASING. Unester County, Pa., Trust Company Threatened With Receivership. WESTCHESTER, PA., February 8.The financial difficulties of the Chester County Guarantee, Trust and Safe Deposit Company are increasing. The company some time ago found itself in financial straits, with liabilities estimated at $600,000 and assets at $1,000,000. These assets, however, are mostly in western mortgages and shch investments, and cannot be realized on except at a loss. The company made a proposition to its depositors to accept bonds for their deposits, to run ten years and to pay 3 per cent. interest. Some of the larger depositors and stockholders did not take kindly to this proposition, and to-day ried a bill in equity in court, asking for the appointment of a receiver for the company. The court will hear argument on the application on Friday next. The company holds $60,000 of State funds on deposit.
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Smedley Darlington Arrested. WESTCHESTER. Pa., Feb. 14.-Ex-Congressman Smedley Darlington. President of the Chester County Guarantee Trust and Safe Deposit Company. was arrested here yesterday at the instance of Mrs. Mary A. Burnett, a depositor in the institution. Mr. Darlington is charged with embezzlement in that he permitted $1,300 of Mrs. Burnett's money to be received on Dec. 2 last knowing that the trust company was in a state of insolvency at the time. Mr. Darlington was held in his own recognizance. Receivers were appointed yesterday for the company.
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FINANCIER IN THE TOILS. Accused of Receiving a Deposit After Insolvency. Westchester, Pa., Feb. 14.-Ex-Congressman Smedley Darlington, president of the Chester County Guarantee Trust and Safe Deposit Company, was arrested here yesterday at the instance of Mrs. Mary A. Burnett, a depositor of the institution. Mr. Darlington is charged with embezzlement in that he permitted $1,300 of Mrs. Burnett's money to be received on Dec. 2 last, knowing that the trust company was in a state of insolvency at the time. Mr. Darlington was held in his own recognizance for a hearing which has been fixed for next Saturday. Receivers were yesterday appointed for the company.
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West Chester, Pa., Feb. 14.-The court has appointed William E. Chalfont and John A. Rupert receivers of the Chester County Guarantee Trust and Safe Deposit company. The former, who is in the brokerage business, was recommended by the depositors, and Mr. Rupert, who is cashier of the Dime Savings bank, was suggested by the officers of the company.
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AN EX-CONGRESSMAN ARRESTED. Smedley Darlington Charged by Mrs. Burnett With Embezzlement. West Chester, Pa., Feb. 14-Ex-Congressman Smedley Darlington, president of the Chester County Guarantee Trust and Safe Deposit Company. was arrested here yesterday at the instance of Mrs. Mary A. Burnett, a depositor of the institution. Mr. Darlington is charged with embezzlement in that he permitted $1,300 of Mrs. Burnett's money to be received on December 2 last, knowing that the trust company was in a state of insolvency at the time. Mr. Darlington was held in his own recognizance for a hearing, which has been fixed for next Saturday. Receivers were yesterday appointed for the company.
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Charged With Embezzlement. Westchester, Pa., Feb. 14.-Ex-Congressman Smedley Darlington, president of the Chester County Guarantee Trust and Safe Deposit company, was arrested here yesterday at the instance of Mrs. Mary A. Burnett, a depositor of the institution. Mr. Darlington is charged with embezzlement, in that he permitted $1,300 of Mrs. Burnett's money to be received on December 2, last, knowing that the trust company was in a state of insolvency at the time. Mr. Darlington was held in his own recognizance for a hearing, which has been fixed for next Saturday. Receivers were yesterday appointed for the company.
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First Publication July 15, 1897-3w. # Summon by Publication. State of Kansas, to Samuel D. Allen and Jose-phine C. Allen: YOU, and each of you are hereby notified, that you have been sued in the district court of Phillips county, Kansas, in an action wherein John A. Rupert and William Chalfant, jr, as the receivers of the Chester County Guarantee Trust and Safe Deposit Company, of West Chester, Pennsylvania, as plaintiffs, and yourselves and William Bissell, Mary M. Bissell, The Phillips County Bank a corporation, J. W. Edwards and Frank Edwards and John G. Gebhart and F. B. Cannon are defendants. And that you must answer the petition filed by the plaintiffs in said action on or before the 25th day of August, 1897, or the same will be taken as true and judgment against the defendants William Bissell, Mary M. Bissell, and Samuel D. Allen in the sum of fourteen hundred dollars, with interest thereon at the rate of ten per cent per annum from August 1, 1895, cost of suit and against all the defendants for the foreclosure of a mortgage on, and the sale of the southeast quarter of the northwest quarter, and the south half of the northeast quarter, and the north half of the southeast quarter, and the southeast quarter of the southeast quarter of section twenty-one (21) and the southwest quarter of the northwest quarter of section twenty-two (22), in township three (3) south of range seventeen (17) west of the 6th P. M., situated in Phillips county, Kansas. Baring all defendants from any interest therein and other relief will be rendered accordingly. W. G. BISSELL AND DARLINGTON & STURGES, Plaintiff's Attorneys. Attest: [SEAL] A. S. HARWOOD, Clerk District Court. By JENNIE HARWOOD, Deputy.
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First Publication July 15, 1897-3w. # Summon by Publication. State of Kansas, to Samuel D. Allen and Josephine C. Allen: YOU, and each of you are hereby notified, that you have been sued in the district court of Phillips county, Kansas, in an action wherein John A. Rupert and William Chalfant, jr., as the receivers of the Chester County Guarantee Trust and Safe Deposit Compacy, of West Chester, Pennsylvania, as plaintiffs, and yourselves and William Bissell, Mary M. Bissell, The Phillips County Bank a corporation, J. W. Edwards and Frank Edwards and John G. Gebhart and F. B. Cannon are defendants. And that you must answer the petition filed by the plaintiffs in said action on or before the 25th day of August, 1897, or the same will be taken as true and judgment against the defendants William Bissell, Mary M. Bissell, and Samuel D. Allen in the sum of fourteen hundred dollars, with interest thereon at the rate of ten per cent per annum from August 1, 1895, cost of suit and against all the defendants for the foreclosure of a mortgage on, and the sale of the southeast quarter of the northwest quarter, and the south half of the northeast quarter, and the north half of the southeast quarter, and the southeast quarter of the southeast quarter of section twenty-one (21) and the southwest quarter of the northwest quarter of section twenty-two (22), in township three (3) south of range seventeen (17) west of the 6th P. M., situated in Phillips county, Kansas, Baring all defendants from any interest therein and other relief will be rendered accordingly. W. G. BISSELL AND DARLINGTON & STURGES, Plaintiff's Attorneys. Attest: [SEAL] A. S. HARWOOD, Clerk District Court. By JENNIE HARWOOD, Deputy.
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# House Stealing in Kansas. In speaking of the insolvent Chester County Guarantee, Trust and Safe Deposit Co., the West Chester Local News says: "The receivers of the trust company have much to look after, and since assuming their office have had several rather odd experiences. For instance, some months ago they went to Kansas to look up the possessions of the company, and among the places visited was the over-boomed city of Wichita, where thousands of dollars of good Chester county money is hopelessly buried in real estate. Imagine the surprise of the receivers when they ran across parties industriously engaged in stealing the trust company's houses—deliberately raising them on wheels and pushing them off. One house in particular had been jacked up and moved part way across the street and the receivers just got there in the nick of time, and caused it to be returned and placed in as good condition as before disturbed."