a8c4944aNone
Click image to open full size in new tab
A CHARLESTON BANK INSOLVENT. Depositors to Be Paid in Full, But Stockholders to Get Nothing. Charleston, S. C., June 17.-A receiver today was appointed in the United States courts of the German Trust and Savings Bank Company. The bank is insolvent and its affairs will be wound up as soon as possible. It is said that depositors will be paid in full, but that the stockholders will not get anything. The capital stock of the company was $50,000.
Click image to open full size in new tab
Charleston Bank Suspends. Charleston, S. C., June 17.-A receiver was today appointed in the United States courts for the German-American Trust and Savings Bank company. The bank is insolvent, and its affairs will be wound up as soon as possible. It is said that depositors will be paid in full, but that the stockholders will not get anything. The capital stock of the company was $50,000.
Click image to open full size in new tab
CHARLESTON'S BANK CRASH. Sensational Developments Among the Probabilities. Charleston, S. C., June 18.-The breaking of the German-American Savings Bank of this city, for which Capt. James F. Redding was appointed receiver in the United States court last night, was the talk of the town to-day. There are a great many rumors afloat regarding the causes which brought about the collapse of the institution, and there seems to be little doubt that men officially connected with the bank will be found by the investigation now in progress, to be obligated to it for money borrowed. It is against the statutes of South Carolina for an officer of a bank to borrow money from it. Three of the directors of the bank, Messrs. Symons, Hesse and Norris, have issued a call for a meeting of the stockholders for the purpose of reorganizing the institution. J. Fred Lilienthal, formerly president of the institution and now a director of it, made an assignment to-day to Thomas Pinckney, Jr. It is said on all sides that before the affairs of the bank are wound up there will be some sensational developments in connection with the causes which brought about its downfall.
Click image to open full size in new tab
CHARLESTON'S BANK FAILURE. Steps on Foot to Reorganize the Institution. Charleston, S. C., June 20.-At a meeting of the stockholders of the German American Trust and Savings Bank, the institution which was declared to be insolvent a few days ago, which was held to-day, it was determined to reorganize the bank. The stockholders are to put up 33 1-3 per cent. of the face value of their stock as a fund upon which to do business. It was reported to the meeting that the liabilities of the insolvent bank are $235,000; the nominal assets $295,000 and the actual assets $237,000. The investigation being made by the receivers is still in progress. As a result of the bank's failure the Carolina and Georgia Lumber Company was to-day placed in the hands of a temporary receiver.
Click image to open full size in new tab
A Bank Fails. CHARLESTON, June 17 -A receiver was today appointed in the United States court for the German-American Trust and Savings Bank company. The bank is insolvent, and its affairs will be wound up as soon as possible. It is said that depositors will be paid in full, but that the stockholders will get nothing. The capital stock of the company was $50,000.
Click image to open full size in new tab
A Bank Fails.: CHARLESTON, June 17.-A receiver was today appointed in the United States court for the German-American Trust and Savings Bank company. The bank is insolvent, and its affairs will be wound up as soon as possible. It is said that depositors will be paid in full, but that the stockholders will get nothing. The capital stock of the company was $50,000.
Click image to open full size in new tab
CHARRLESTON June 17.-A receiver was to-day appointed in the United States court for the German-American Trust and Savings Bank company. The bank is insolvent, and its affairs will be wound up as soon as possible It is said that depositors will be paid in full. but that the stockholders will get nothing. The capital stock of the company was $50,000. KINGSTON, Ja., June 17 -According to advices received here, that territory in dispute between Great Britain and Venezuela bas been entered by a force of troops of the latter country. The Venezuelan soldiers compelled a party of British surveyors who were at work in the district to suspend operations The surveying party retreated and appealed to the authorities for sup port OCALA, Fla., June 17 -The eight delegates from Florida will go to Chicago uninstructed. In the State convention to nigtht the committee 00 platform made two reports. The majority recommended relegating the financial question to the Chicago convention The minority report, sigged by 22 of the 47 members of the resolutions committee, delared for free silver. The minority report was voted down, 176 1-2 to 170 1-2, and the majority report adopted by the same vote. The delegates to Chicago were then chosen, four being avowed silver men and four supposed to be for gold. CHARLE-TON, June 17.-The steamer Commodore left this port for parts unknown !onight at 8 o'clock. She was released by the United States authorities on boud two weeks ago, she baving been seized last winter on charges of being a filibuster. It is bebelieved here that she has taken on a large cargo of arms and ammunition for Cuba while she has been lying in the harbor. LONDON, June 17 -The British steamer Drummond Castle, which sailed from Table Bay, May 28th, for this port with 350 persons on board, has been sunk near Ushant. the most western of the islands off the coast of Brittaby, France. A telegram to Lloyd's from Ushant says: "The Drummond Castle is supposed to have struck the rocks. One man only (Marquard) was saved here. The vessel completely disappeared. The ships's boat was launched."
Click image to open full size in new tab
A Bank Falls. CHARLESTON, June 17-A receiver was today appointed in the United States court for the German-American Trust and Savings Bank company. The bank is insolvent, and its affairs will be wound up as soon as possible. It is said that depositors will be paid in full, but that the stockholders will get nothing. The capital stock of the company was $50,000.
Click image to open full size in new tab
A BANK TO BE REORGANIZED. The Stockholders to Be Assessed 33½ Per Cent. Charleston, S. C., June 26.-At a meeting of the stockholders of the GermanAmerican Bank, which was recently placed in the hands of receivers, held today, it was determined to reorganize the bank at once, each stockholder paying in 33½ of the face value of his stock. A report submitted to the meeting by Mr. Hastil, one of the stockholders, reflects strongly on A. Bequest, formerly president, and J. F. Lilienthal, one of the directors of the institution. This report showed that the former was obligated to the extent of $12,000 to the bank, and the latter to twice that amount.
Click image to open full size in new tab
THEY WOULD HAVE "SOUND MONEY." S. W. Graves & Co., the leading mantel manufacturers in the South, Knoxville, Tenn, assigned on the 13th. Liabilities $40,000 (sound) The Roanoke Loan, Trust and Safe Deposit Company, Roanoke, Va, cap ital $250,000, has assigned. It is claimed that the assets amount to over $600,000, and the liabilities a little over $200,000, (sound) but it was impossible to realize on securities, which consisted mainly of real estate which has depreciated under a gold standard. Of course this concern contended that the way to make money plentiful was to stop making it. The German-American Savings Bank. Charleston, S C., is in the hands of a receiver. Stockholders will get nothing, it is said. The Eagle and Pl œ nix cotton mills, at Columbus, Ga., the largest mills in the world, went into the hands of 8 re. ceiver on the 13th. Liabilities $1 121,000. These mills had been doing a suc. cessful business for many years, but a year or two of the gold standard ruined them. Cashier A. Brady, of the Loan and Savings Bank, Charlotte, N. C., isshort in his accounts to the tune of $4,500. He is a sound money Republican, and has not been seen since he returned from the National Convention at St. Louis. Brady attempted to help the Democrats steal Mecklenburg county two years ago.
Click image to open full size in new tab
CHARLESTON BANK TO RESUME. The German-American to Be Taken Out of the Court's Hands. Charleston, S. C., Nov. 9.-The German American Savings Bank of this city, which has been in the hands of the United States court since last July, will be allowed to resume business again without the aid of a receiver. The committee appointed by the court to investigate the affairs of the institution, made its report to-day, showing that the bank was in a condition to resume business. Ju ige Simonton, after hearing the report, 1eclined to appoint a receiver for the bank. It will be remembered that it was alleged in July that A. Bequest, the president of the bank, and one of the directors, J. Fred Lilienthal, had been guilty of grave irregularities in its management. These men have been indicted in the county court, and they will be tried this week. Their trial is expected to prove a very sensational one.