21783. Dollar Savings Bank (Richmond, VA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 24, 1873
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini
Short Digest
65cb5c86

Response Measures

Full suspension

Other: Bank was later adjudged bankrupt and officers were arrested for alleged embezzlement; suspension appears permanent.

Description

Multiple articles report a run of small depositors and that the Dollar Savings Bank 'closed' or 'suspended' on 1873-09-24 during the national panic. The bank briefly resumed business (reported 1873-10-08) but was later adjudged bankrupt (U.S. District Court) in March 1874 and its officers were arrested in 1874–1875 for embezzlement. Sequence: run → suspension (Sept 1873) → short reopening (Oct 1873) → ultimate bankruptcy/receivership (Mar 1874). Because the episode ends with permanent closure/bankruptcy, I classify it as run_suspension_closure.

Events (5)
1. September 24, 1873 Run
Cause
Macro News
Cause Details
Panic stemming from failures (Jay Cooke & Co., Clews, etc.) and general scarcity of currency during the national financial crisis of Sept. 1873
Measures
Banks paid out currency early in the day; savings banks required legal thirty days' notice; some institutions suspended paying out all currency
Newspaper Excerpt
There is a run of small depositors on the banks, but they are holding out as yet
Source
newspapers
2. September 24, 1873 Suspension
Cause
Macro News
Cause Details
Scarcity of currency and fallout from the wider financial panic (drawn funds, failures elsewhere) forced suspension/closure of payments
Newspaper Excerpt
The Dollar Savings Bank closed this morning. Messrs. Isaacs, Taylor & Williams, bankers, suspended on account of the scarcity of currency
Source
newspapers
3. October 8, 1873 Reopening
Newspaper Excerpt
The Dollar Savings Bank, in Richmond, which was recently compelled to suspend payment has resumed business.
Source
newspapers
4. March 9, 1874 Other
Newspaper Excerpt
John E. Bossieur, President of the Dollar Savings Bank ... was to-day thrown into bankruptcy and arrested on a criminal charge in connection with his management of that institution
Source
newspapers
5. March 26, 1874 Receivership
Newspaper Excerpt
The Dollar Savings Bank, which suspended during the recent financial crisis, was to-day adjudged a bankrupt in the U. S. District Court.
Source
newspapers

Newspaper Articles (25)
1. September 24, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 24, 1873

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TELEGRAPH [SPECIAL DISPATCHES TO THE GAZETTE.] FINANCIAL AFFAIRS. FROM WASHINGTON. WASHINGTON, Sept. 24.--Everything better finanis quiet here to-day, and a much City Savcially feeling is prevalent. The run on the that institu Bank has entirely ceased, and ings is `considered perfectly safe. The dispatch- more tion New York are looked upon as notes from and hopes are indulged that, embar withstanding favorable, the forebodings of further and that the worst has been past, restored. confidence rassment, will SOOD again be entirely FROM RICHMOND. Sept. 24.-The Dollar suspended Savings RICHMOND, Isaacs, Taylor & Williams paid Bank and The regular banks have of busithis morning. upon them up to the close has all demands The feeling in the community that ness to-day. very much, and it is thought telt for improved is over. No apprehension the is banks. the worst of the State funds held by Dollar Savthe safety VA., Sept. 24. -The Isaacs, Taylor RICHMOND, this morning. of the ings Bank closed suspended on account double scarcity & Williams of currency, have their assets being their liabilities. the above concerns the stone yard cutIn both of at the government stone There is ters employed depositors to a large amount. neighborhood considerable were excitement banks. There in the IS a run of small out of the various the banks, but all are holding the storm depositors OD will doubtless weather Bauk as yet and the day, the Freedo Savings private inrequiring through legal notice, as also other stitutions. A general meeting of Coro the members Exchange of and the Chamber Association of Commerce, and leading merchants will of Tobacco 'clock to consider the state be affairs held and at one adopt o some measures to strengthen the public confidence. FROM LONDON. Sept. 24 The house suspend of Clews LONDON, & Co., have decided to the A dispatch Habieht from Berlin announces failure of a bank in that city. 24. The 138,00 pounds to drawn day LONDON Bank Sept. of England on balauce Twenty thoufrom for the shipment to New York. above was also to the sawe place to sand was shipped pounds in addition to the believed day. in financial LONDON, Sept 24. bullion It is from England to circles United that a States flow of will commence soon. The amount the LONDON, Sept. 24.-4 p. the Bank of Engof bullion withdrawn from £138,000. land 00 balaece to-day is Messrs, Clews. Habicht LONDON, notified Sept. yesterday by Henry safe, Clews and & & Co. Co., were of New York, that they of the were latter house first knew of the immediately suspension called in their suspend solito-day. and They after consultation decided account to of Henry citor, payment. Their liabilities OD Their other liabilClews & Co. £64,000. are £240,000. They have assets sufficient those of ities are own liabilities, but not their afto Henry meet Clews their & Co. Liquidation dition of of the New penoy. fairs York depends house. upon The London the con house has not lost a FROM NEW YORK. YORK, Sept. 24. -The President de- of NEW Southern Railway Company obliged to the Canada rumor that they have been to the nies the all contracts for the present owing entirely cancel crisis. He says the road was be true. financial finished and it could not, therefore, of asserted on the authority of Trust one Com- the It is committee of the Union be much examining Carlton's defalcation will yesterpany that first supposed. Up to noon but less than defalcations at discovered aggregated which he $75,000. the day the Many of the securities company are on believed loaned the better funds character of than at You's first suppos- dealers to be It of is said a number of New shippers to stop sending ed. have telegraphed grain money east to with owing western which to the to difficulty meet sight of drafts. procuring Sept. 24. -The Stock orders. Exchange Gold NEW remain YORK, closed until further opened will NEW at Y ORK. 112 Sept. 24-10:40 a. -Howes & Macy Wall have and just Broad suspended. streets for in already addition present to the the an upusual lively regular aspect, dealars, hundreds by of cugeneral presence public of have been drawn there riosity. YORK, Sept. 24. Mr. Macy, for a statement of Howes & NEW Macy, in reply to firm a request said the only explanaof the of affairs their suspension of the was that which to all applied firms tion under the existing occumstances of depositors. Such having must a large suspend. number Hisfirm had financial yielded crisis be to and houses the inevitable would resume result of when the present the crisis should The over. Sept. 24 -11:45 a. m. today NEW YORK, Banks at a meeting but ce not to pay out any the Clearing solved Clearing House payable at more currency lock House up tify all checks to prevent any of greenbacks. It is paid as usual, the rule only. allchecks This is will intended be understood, ge amounts however bonds that ap to checks for 24-10:30 m. No ply NEW only YORK, the Sept. sub Treasury this morning. nervous. were offered on at the street is rather of the Stock The Brokers feeling are but congregated are doing in little front or street no business. quotaExchange, following are the opening Rock Islaud, 86 The Central, 91 offered bid ; Western Un bid, offered tions 62 bid, Union 64 offered Pacific, Shore. 21 Pacific 80 bid. Mail, 32 in to take session iou, 35 A offered meeting Lake of action the bank in regard presidents to proper is now measemergency. remain ures in the Clews present & Co. say they the money will mar Henry until the tightness in some more settled. closed affairs are panic ket NEW gives YORK, way and Sept. 24. business -The in money bread stuffs. no has completely is nothing blocked doing and consequently subThere have been established. 10:50 The half up Treasurer prices NEW YORK to Sept. this 24- hour has bought a

2. September 25, 1873 The New York Herald New York, NY
Article from The New York Herald, September 25, 1873

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The Crisis in Richmond, Va. RICHMOND, Va., Sept. 24, 1873. The Dollar Savings Bank closed this morning. Messrs. Isaacs, Taylor & Williams, bankers, suspended on account of the scarcity of currency, their assets being double their liabilities in both of the above concerns. The stone cutters employed in the government stone yard were depositors to a large amount. There is considerable excitement in the neighborhood of the various banks. There is a run of small depositors on the banks, but they are holding out as yet and will, doubtless, weather the storm through the day. The Freedman's Savings Bank requires the legal notice, as also other private institutions. A general meeting of the members of the Chamber of Commerce, Corn Exchange, the Tobacco Association, and leading merchants will be held at one o'clock to-day, to consider the state of affairs and adopt some measure to strengthen public confidence. The meeting of merchants and manufacturers, including the various commercial associations 01 the city, held at one o'clock to-day. was the largest gathering ot the kind ever held in Richmond, and the greatest interest was manifested in the present financial crisis. A series of resolutions were adopted with great unanimity, and were in effect as follows:That the present condition of affairs in Richmond has arisen from causes and induences external to the banking and mercantile business thereof, and is in nowise attributed to irregular operations or undue expansion on the part of its banks or merchants. That the banks of the city are at present believed to be of undoubted solvency and that no loss can result to creditors it the banks are allowed to proceed as heretofore. That the meeting deprecates the uneasy feeling prevailing in the city, as tending to produce a panic and a run on the banks, thereby being likely to cause their suspension. as well as to arrest and overthrow all business. That in view of the undoubted solvency of the banks. and to prove their confidence therein, the members of the meeting pledge themselves to abstain from running on the banks and to contine themselves to strictly regular and necessary checks and drafts in°the course of business, making them as limited as practicable; and further, they will continue as heretofore to make deposits, and they urge upon all persons having business with the banks to pursue a like course of confidence, thus avoiding the greatest contingencies of prostration and disaster. No further suspensions are reported. The banks all held out to the closing hour. paying up promptly. The excitement has greatly subsided.

3. September 25, 1873 Wilmington Daily Commercial Wilmington, DE
Article from Wilmington Daily Commercial, September 25, 1873

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The Situation, Yesterday. The Philadelphia Ledger, says There was generally a calmer feeling in financial circles yesterday, and the loan certificate policy adopted by the banks in this and other cities inspired hopes of a speedy progress towards recovery from the effects of the panic. The New York Stock Exchange will remain closed until further notice. Two suspensions were reported yesterday in New York-Howes & Macy, and Brown & Watson, gold brokers. The suspensions reported elsewhere were Brown, Lancaster & Co., at Baltimore Brown & Gray, at Wilkeebarre ; and the Dollar Savings Bank. and I-sace. Taylor & Williams, at Richmond, Virginia. The policy of suspending the payment of currency by the banks, except in small amounts, has been adopted in Baltimore and Richmond. In Chicago and Cincinnati the financial condition is reported sound. Not a single case of failure or embarrassment is reported in mercantile circles anywhere.

4. September 25, 1873 Nashville Union and American Nashville, TN
Article from Nashville Union and American, September 25, 1873

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The Developments Elsewhere. Failure of Henry Clewes' London House. LONDON, Sept. 4.-Clewes, Hambicht & Co. were informed yesterday that Henry Clewes & Co. were safe, and first knew of the suspension of that New York house to. day. They immediately called in their solic tors, and after a consultation decided to suspend payment. Their liabilities are £240,000. Their other liabilities are £64,000. They have assets sufficient to meet their own liabilities, but not those of Henry Clewes & Co. The liquidation of affairs depends upon the condition of the New York house. £158,000 were drawn from the Bank of England on balance to-day, for shipment to New York. It is believed in financial circles that a flow of bullion from England to the United States will commence. Petersburg. RICHMOND, Sent. 24.-The corporation of Petersburg had over two hundred thousand dollars in the suspended banks of that city. McIlvaine & Co., of Petersburg, one of the largest commission firms in the State, is reported suspended. The Directors of the Citizens' Bank o! Petersburg, at a meeting yesterday decided to suspend to-day. Richmond Failures. The Dollar Savings Bank closed this morning. Isaacs, Taylor & Williams, bankers, suspended on account of the scarcety of currency, their assets being double their liabilities. In both the above concerns the stone cutters employed in the Government stone yard, were depositors to a large amount. There is considerable excitement in the neighborhood of the various banks. There is a run of small depositors, but the banks are altholding out and will doubtless weather through the day. The Freedmen's Savings Bank requires legal notice, as also other private institutions. A general meeting of members of the Chamber of Commerce, the Corn Exchange, the Tobacco Association and leading merchants will be held to-day, to consider the state of affairs and adopt measures to streugthen public confidence Pennsylvania. 14 PHILADELPHIA, Sept. 24.-No failures are reported at Allentown, Bethlehem, or Harrisburg, Pennsylvania, or Trenton New Jersey. Wilkesbarre. WILKESBARRE, Sept. 24.-Brown & Gray, bankers, suspended this morning. A

5. September 25, 1873 The Daily Phoenix Columbia, SC
Article from The Daily Phoenix, September 25, 1873

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banks throughout the city. No suspensions of payment has occurred -day. The directors appear to be more confideut. $2,500,000 loan certificates were issued by the Clearing House. The Government bought over $2,500,000 in bonds. 3.50 P. M.-The street is very quiet at this hour; the day closes hopeful, but rather gloomy. WILKESBARRE, Ps., Séptember 24 Brown & Gray attribute their failure to Henry Clews. The miners were large depositors. CHICAGO, September 4-Bank ness good and a comfortablefeelingprevails. HALIFAX. September 24-Brown WOD by several lengths. PATTERSON, N. J., September 24)415 locomotive men were discbarged from the Rogers locomotive iron works to-day-making 1,000-twi-thirds force. WASHINGTON, September 24.-The Freedmen's Savings Bauk is enforcing the legal thirty days' notice from lepo sitors. MILWAUKEE, September 24.-The Chamber of Commerce adjourned Monday, 29th. The resolutious don't interfere with former contracts, but commend that all outside trading ceuse. CHARLESTON, September 24.Money is 80 stringent here that no obligations are contracted, and all business limited in amount. There is some demand for cotton, at low figures, but the difficulty in negotiating exchange stops sales, and the relief from that source is 80 slow in coming, that factors would, at the moment, accept low rates for most articles of produce. Paper falling due is renewed in full, or with a small payment on account, and creditors are disposed to be indulgeut. No failure has been reported. The banks pay checks as usual and there has not been the first symptoms of a run. RICHMOND, VA., September 24 -The Dollar Savings Bank closed this morning. Isaacs, Taylor & Williams, baukers, suspended, on account of scareity of currency. The assets are double the liabilities in both the above concerns The stone-cutters employed at the Go vernment stone yard were depositors to a large amount. There is considerable excitement in the neighborhood of the various banks, and a run of small depositors on the banks, but all are holding out as yet, and will doubtless weather the storm through the day. The Freed man's Savings Bank require legal notice, as also the private institutions. A general meeting of the members of the Chamber of Commerce, Corn Exchange, Tobacco Association and the leading merchants was held at 1 o'clock, to con sider the state of affairs and adopt some measure to strengthen public conti dence. It was the largest gathering of the kind ever held in Richmond. The greatest interest was manifested to prevent a financial crisis. A series of resolutions was adopted with great unanimity, in effect as follows: That the present condition of Affairs in Richmond has arisen from causes and influences external to banking a mercantile busiis in no or on gular ness, and operatious wise attributed undue expansion merchants; to irrethe part of the banks or that the banks of the city are at present believed to be of undoubted solvency, and that no loss can result to creditors, if the banks are allowed to proceed as heretofore; that the meeting deprecates the uneasy feeling prevailing in the city, astending to produce a panic and a rnn on the banks, thereby being likely to cause their suspension, as well as to arrest and overthrow all business; that in view of the undoubted solvency of the banks, and to prove their confidence therein, the members of the meeting themselves to abstain from runand to necessary pledge ning strictly the banks, regular and contine themselves checks and drafts in the course of businessmaking them as limited as practicable, and continue as heretofore to make deposits; and that they urge upon all persons having business with the banks to a like course the of and pursue avoiding greatest disaster. of contingencies confidence, No further thus all prostration suspensious out till reported. closing hour, The paying banks held the up promptly. The excitement has greatly subsided. ALLENTOWN, Pa., September 24. Thomas B. Parker shot his wife, this morning. and then blew his brains outcause jealousy. The parties are very wealthy. The wife is supposed to be mortally wouuded. The tragedy causes intense excitement. UTICA, N. Y., September 24.-The Republican Convention nominated Francis A. Thayer for Secretary State: Nelson

6. September 25, 1873 Rutland Weekly Herald Rutland, VT
Article from Rutland Weekly Herald, September 25, 1873

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THE PANIC IN RICHMOND. RICHMOND, Va, Sept. 24. The Dollar savings bank closed this morning. Isaacs, Taylor & Williams, bankers, suspended on account of the scarcity of currency, their assets being double their liabilities in both of the above concerns. The stone cutters employed in the government stone yard were depositors to a large amount. There is considerable excitement iu the neighborhood of varoius banks, but they are all holding out as yet, and will doubtless weather the storm through the day. The Freedmen's savings bank requires legal tender, as also other private institutions. A general meeting of the chamber of commerce, corn exchange, tobacco association and leadidg merchants will be held at 1 o'clock to-day, to consider the state of affairs and adopt some measure to strengthen the public confidence. FAILURES IN EUROPE. LONDON, Sept. 24. The house of Clews, Habicht & Co. have suspended. A dispatch from Berlin announces the failure of a bank in that city. MONEY COMING FROM ENGLAND. The £138,000 drawn from the Bank of England on balance to-day was for shipment to New York. Twenty thousand pounds in addition to the above amount was also shipped to the same place to-day. THE LONDON FAILURE. Messrs. Clews, Habicht & Co. were notified yesterday by Henry Clews & Co., of New York, that they were safe, and first knew of the suspension of the latter house to-day. They immediately called in their solicitor, and after consultation decided to suspend payment. Their liabilities on account of Henry Clews & Co. are £246,000. Their other liabilities £64,000. They have assets sufficient to meet their own liabilities, but not those of Henry Clews & Co. The liquidation of affairs depends upon the condition of the New York house. The London house has not lost a penny.

7. September 25, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 25, 1873

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RICHMOND. Special Dispatch to The Chicago Tribune. RICHMOND, Va., Sept. 24.-The suspension of the Petersburg banks and soveral commercial firms there yesterday, caused a run on our banks at an early hour to-day. Great excitement was manifetd for a while. The savings banks all claim notice, The National and State Banks meet all demands promptly. Currency WAB received from the North, which enabled them to pull through to-day. SUSPENSIONS. Isaace, Taylor & Williams, stock-brokers and bank ers, suspended. They did a very largo deposit business. The Dollar Savings Bank and the BuildingFund Association paid out all their currency and suspended. Their funds were loaned on real ostate, and they could not readily meet the rueh. MEETING OF MERCHANTS. The merchauts, manufacturers, and citizens, and members of the Corn and Tobacco Exchange and Chamber of Commerco met this evening, and, after the passage of resolutions expressing perfect CONFIDENCE IN THE SOLVENCY OF THE BANKS here, further resolved to make their usual deposits and not to withdraw their balance now in banks hero, This action procludes a disastrous run on our main banks, four of which have each $220,000 of State money therein, besides Post-Office and Internal Revenue funds. The First National Bank of Virginia, State Bank, Merchants' Bank, Planters' National Bank, and Richmond Banking and Insurance Company have met promptly all domands made upon them, and deposits have been made as usual during the day, and at the hour of closing there was nothing observable about the banks which would lead any one to suspect that anything more than the usual daily routine of business was being transacted. IRON WORKS SUSPENDED. The Tredegar Iron Works, employing 1,600 hands, temporarily stopped work to-day, a Northern railroad failing to meet their obligations for several hundred thousand dollars' worth of railroad material furnished.

8. September 26, 1873 Staunton Vindicator Staunton, VA
Article from Staunton Vindicator, September 26, 1873

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menced in New York last Friday, creating a financial crash very similar to the "Black Friday" of last year, and damaging pret- ty much the san class of business men.- The first brick that went down was Jay Cook & Co., who had advanced too much money on Pacific Railroad bonds, and who could not sell the bonds fast enough to ob- tain means sufficient to meet their other en- gagements. A number of smaller houses followed them in the fall, and then came the great house of Fisk & Hatch, which had also spread itself too thin on railroads bonds, including the Chesapeake & Ohio Railread for which company it was the banker. When the run created by Jay Cook & Co. reached them they had to pay out $1,700,000 in currency and could ob- tain no more though their liabilities were ample for ten times the amount. A half dozen brokers suspended Monday in Phila- delphia, and on Tuesday the crash reached Petersburg, Va., where the correspondents say, five bank Presidents have been trying to carry 4,500 shares of Petersburg Rail- road stock, and all of their banks broke. The Dollar Savings Bank in Richmond and the banking firm of Isaacs, Taylor & Williams suspended. We give below a history of the flurry as gathered from our exchanges, adding that since the failure of Henry Clews on Wednesday the New York market has been comparatively quiet: # THE WILD SCENES ON CHANGE. When men went down to their business yesterday morning, confident and happy, they heard that Jay Cooke & Co. had sus- pended and that the Northern Pacific Rail- road had "burst." Immediately a rumor ran through the street, and men felt as if the bottom of Wall street had literally dropped out and they were all to go with it. For the moment no one could understand where he stood. The biggest men and the smallest cut round to the Stock Exchange, and when its ponderous doors opened and the first call was announced the brokers were quaking in their shoes, and the noise and mingling of tongues were entirely worthy of the ancient Tower of Babel. # EVERYBODY WAS SHOUTING, nobody was listening, and the President had difficulty in rapping with his gavel to get the excited creatures below him to lis- ten to his voice. The suspension of Jay Cooke & Co. was then announced, and a monstrous yell went up and seemed to liter- ally shake the building in which all these mad brokers were for the moment confined. When the call took place stocks of all kinds and descriptions came tumbling down at a trightful rate, and in a moment many saw themselves ruined This only served to in- crease the hubbub to a demoniac revel. Many tore their hair and ran about as if crazy, pushing, battling, shouting, shriek- ing to others equaly crazy. The Stock Exchange had lost its head, and the usual pandemonium of daily occurrence was as mere music to the noises which were being made. Everybody was trying to sell, no- body was willing to buy, and, with the ges- ticulations of the principals the breathless running in and out of clerks, the "tick- tick" of the telegraphs, the overwhelming confusion of tongues and the shuffle and pat- ter of the feet on the floors. a stranger might have well believed himself in a madhouse. In the Gold Exchange the scene was only a repetition of that occurring in the Stock Ex- change, and the excitement was up to fever heat. But # THE SCENE OUTSIDE did not differ to any great extent from that occurring in the board room. Knots of people were collected on the street corners

9. October 8, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 8, 1873

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VIRGINIA NEWS. The Dollar Savings Bank, in Richmond, which was recently courpelled to suspend payment has resumed business. Messrs. Isaacs Taylor & Williams, backed by a number of capitalists, of Richmond, have procured a charter from the State and organized the "Bauk of Commerce," of which Mr. Isaacs has been elected president. The new institution has commenced business under favorable auspices. Messrs. Lancaster & Co. are preparing an exbibit which will undoubtedly demonstrate the solvency of their old firm. and they will shortly be able to resume business. The mercantile community has been exceedingly magnanimous in their dealings with the banking institutions, and now see the fruits of it in increased public assurance and a promise of better feeling in commercial circles. So far no claim against any Richmond banking concern has been sold or offered for sale at a price less than par value. A preliminary meeting of veterans of the Mexican war was held in Richmond yesterday, Capt. Robert Scott presiding. It was resolved to hold a general meeting of the veterans of Virginia, October 28, to perfect organization, with a view to representation at the general convention at Washington. There were twenty-five present, several from other States.

10. February 20, 1874 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, February 20, 1874

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Items. THE spring lamb moveth up this way, Next Sunday will be Pater Patrie day. COLEMAN'S DEFALCATION was $16,000 in bonds, and he is in bonds for it. IT IS MUCH HARDER to climb the Jungfrau and Mitterhorn than a whisky horn. THE fierce blasts of March are anticipated with feelings of dread by the average citizen. FORTY car loads of freight, destined for New York, arrived via Chesapeake and Ohio railroad yesterday. MR. ROBERT H. MAURY has been appointed as expert to unravel the mysterious sinking fund disaster. VIRGINIA members of Congress are hammering away on that body for a reduction of duty on leaf tobacco. THE Chesapeake and Ohio railroad company are having a large track scale put in near the depot at Hinton. CALVIN DAVIS has been elected to represent Danville in the Virginia penitentiary for five years, for stealing a horse. SLEEPING CARS as at present managed, are productive of celibacy. No girl will marry after seeing an unwashed man in his sock-feet. WHAT A JOLLY GIRL to spark would be one of those nychatopians who cannot see in the daylight, but do wonderfully well in the dark. AN OLD MAID in Massachusetts has twenty-eight pet rabbits, and with these for pets and a hot brick for comfort she manages to get along very nicely. GEO. B. DEETON, a conductor on the Chesapeake and Ohio railroad, had his hand badly mashed while coupling cars at Gordonsville, on the morning of the 16th. THE NORFOLK VIRGINIAN is in a quandary to know "whether Governor Kemper has really accepted the position of Grant's Lieutenant and Fugleman." A MANCHESTER WIFE thus manages to secure for herself a quiet day. She notifies her husband in the morning that her mother is coming to spend the day with her. OUR NEW RESERVOIR is expected to cost $300,000. If a City Hall is ordered to be constructed, it will not cost less than that amount, and may be will go as high as $500,000, THE INVITATIONS to some entertainments in this city are printed on large boards, so that in case of the happening of an accident one could be carried home on his admission ticket. IT MAY BE ASSUMED as a postulate susceptible of easy demonstration, that that it is no more right in law to legislate about Sunday than any other day. All the days are equal before the law, or should be. IT IS STATED as one reason why a recent marriage here should be placed in the category of swell-head affairs that the minister got twenty dollars for his part of the job. A good woman is cheap at that price, we think. CAPTAIN CLAYTON, stevedore, was seriously injured yesterday by a bale of cotton which struck him in coming down a hatchway at the wharves of the Chesapeake and Ohio railroad. He was bruised about the head and face, and it is thought internally injured. DR. W. LEIGH BURTON'S poetical description of the skedaddle of the Senators on Thursday, has been printed on slips by Captain C. F. Johnston, newsdealer, 918 Main street, and was sold at the Capitol like hot cakes to-day. It is published in extenso in the Petersburg News of yesterday. A PARTY writing from Little Rock, Arkansas, says, "there are very few Virginians here. I have only met two—Mr. John W. Rison, formerly of Richmond, and Mr. Charles A. Ginnochio. The latter is an enterprising Italian, who formerly lived in Petersburg, where he has a host of friends." IT IS STATED that the affairs of the "Dollar Savings Bank" of this city are being investigated. During the late panic it incontinently "busted," and has not since shown any signs of vitality. It is alleged that the perspiration of many a poor man's eye-brow has been swallowed up in its financial chasm. THE PETERSBURG GUARD, Capt Hill, the colored company who will the be guest of the Attucks Guard and others in this city on the 23rd, are highly spoken of by the papers of the Cockade City. The News says: "We are betting our pile on the Guards, for they are equal to the best colored company in the State or elsewhere." WEDNESDAY NIGHT a passenger from the South on the Northern bound, got out at the Eighth street depot, in this city, to wet his whistle. Meanwhile the engine blowed its whistle and started and he was left behind. Procuring the aid of Policeman Pryde he was shown to the telegraph office, where he telegraphed for his baggage. He lost his ride on the sleeping car, however. AN EVENING CONTEMPORARY favors a municipal legislature, with two branches for Richmond, for the reason that they "would afford checks upon each other." Checks are good. We have many a time invested our last red in a stack. But, seriously, our idea is that the people favor the two-branched council because the single one they have had heretofore have dealt too much in checks, for whose payment they were responsible.

11. March 10, 1874 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, March 10, 1874

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CITY NEWS THE DOLLAR SAVINGS BANK.-Upon pecition, signed by the trustees of the Mutual Building Fund and Dollar Savings Bank, " Judge Hughes, of the United States district court, yesterday issued a warrant for Mr. John E. Bossieux, president of the Dollar Savings bank. This was placed in the hands of Deputy Marshal Nye, who arrested Mr. Bossieux, and carried him before United States Commissioner Adkins, by whom he was bailed in the sum of $5,000 for his appearance at the next term of the United States strict court, which commences next Thursday, Mr. L. J. Bossieux surety, to answer charge as set forth in the petition of the trustees to the effect that their demands against the said John E. Bossieux are: First. $11,983.17, exclusive of interest, overdrawn by him from said bank. Second. A very large amount of money, the exact amount of which can not now he ascertained, received by him for said bank and appropriated by him for his own uses and purposes. Third, fourth, and fifth. certain promissory notes. specifically described in the petition. The petitioners further represent that within the past six months the said Bossieux did, with intent to hinder, defraud and delay his creditors, convey and transfer certain specified real estate in trust to secure Bossieux & Brother the payment of certain promissory notes. It is further charged that Bossieux, on 21st of February, 1874, did fraudulently stop or suspend, and has not resumed the payment of his commercial paper within a period of fourteen days. The petitioners therefore pray that he may be declared a bankrupt, and that his property betaken possession of by the court The specifications and details are too voluminous for publication in this journal The above summary presents a statement of the case in its most important aspeets. We KNOW little of the merits of this case, but the circumstances would indicate that the Dollar Savings bank, like other monetary institutions of this and other places, had not put its money 'where it would do the most good, consequently when the September panic struck it, it was unable to pay all of its depositors. The "shortness" would appear to be about $40,000. There should, however, be a practicable bridge between this sum (due mostly to laboring people in small sums), and perfect pecuniary happiness to all concerned in those deeds of trust on real estate and good notes which the bank was said to possess, and we hope it will so be found in the wind up. That John E. Bossieux has either done anything wrong in the premises, or contemplated doing so, we shall not believe until the same is made manifest by proof. He is a native of this city, a member of the city council, noted in business circles for his honesty, activity and enterprise, and socially for an urbane courteousness that has attached to him many friends That such a man should damn himself by a wilful act of wrongdoing in a community where he is so well known is not easy to believe. THE POLICE FORCE.-Mayor Keiley's message says more system has been infused in the conduct of the department of the correctional police than formerly existed-a pleasing assurance. He adds, firstly, in respect to the spring sickness which so often attack our Knights of the Billy, and secondly as to kindred matters, as follows: "I am unable to report any material improvement to the loss of time from sickness. l'his amounted during the past year to eleven hundred and thirtytwo days. As the compensation of the force is unaffected by sickness, this amount of lost time represents an outlay by the city of nearly $3,000, for which she received no aquivalent I have communicated with the authorities of four Northern and four Southern cities and find our proportion of sickness in the force considerably in excess of the most unhealthy of the eight cities. In every other respect the council will find the report of the chief reflecting the highest credit on the force, he arrests made during the year were 6,393 those of the preceeding year 6,121. The large number of arrests is supposed by the chief of police to be accounted for in part by the fondness of the colored people for this means of redressing their wrongs among themselves, but this cause can have affected but slightly the result, inasmuch as the colored arrests number but 41 more than the whites in this large aggregate of nearly 6,500. Indeed it must be said to the credit of the colored people, that while the white arrests for 1872 exhibit an increase of 441 over the arrests for 1873, the colored arrests for 1873 exhibit a decrease of 169 from those of 1872. One reason of this decline is the fact that I believe I have succeeded in breaking up most vicious and unlawful practice, for many years prevalent, of arresting whole companies of colored people on general warrants. During the year but one instance of this sort was reported to me, and as I required the money taken from the negroes on this occasion, under color of law, to be refunded to them, the experiment was, so far as I know, not repeated. "I regarded this matter as a flagrant outrage, and should feel it to be my duty to bring it to the notice of the grand jury if less stringent remedies should fail in reforming it. KATIE PUTNAM.-This charming, fascinating, and bewitching little artist, of real, modest, true naturalistic genius, was greeted at the Theatre last night with an other good house, but not such an one as her merit demanded. The play of 'Lorle, with Katie in the title role, supported by Brown as Christoph Balder, and Nugent as Reinhardt, and the remainder of the company, passed off very agreeably. To-night Sans Souci" will be produced. We doubt not the piece will sparkle with pleasantry, and that Katie will shine forth in all her brilliancy THE CAPITOL.-Donn Piatt's celeentitled above anneared

12. March 10, 1874 The New York Herald New York, NY
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ARREST OF A BANK PRESIDENT. RICHMOND, Va., March 9, 1874. John E. Bossieur, President of the Dollar Savings Bank, which suspended during the financial crisis was to-day thrown into bankruptcy and arrested on a criminal charge in connection with his management of that institution. An investigation has been progressing for some time past on the part of the trustees which has brought to light facts showing gross mismanagement of the officers. It is stated that the stockholders and directors will lose about $200,000. Bossieur has given bail in $5,000. Other arrests in connection with the affair will probably follow.

13. March 12, 1874 Delaware Republican Wilmington, DE
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Adolph Rammens, lately Tax Receiver of Louisville, died suddenly in that city on Monday. lhe life was insured for about $150,000, of which $90,000 was obtained within the last two months, and the insurance agents have had his stomach sealed up for analysis, to discover the cause of death, which was certified by the family physician as congestion of the brain. Rammens was to have met a committee of Councils on the day of his death to make a final settlement of his accounts. At Richmond, Va., on Monday, John E. Bossieux, President of the suspended Dollar Savings Baok, was thrown into bankruptcy. He was also arrested on a criminal charge and balled in $5000. An investigation of the atfairs of the bank has shown 'gross mismanagement" on the part of its officers, and it is believed other arrests will be made. At Wallingford, Conn., on Saturday, John Anderssen, a Swede, entered a wheel factory, where he had been employed, and shot two men, fatally wounding one of them, named Horstic Hall. He then shot himself and cat his own throat, inflicting fatal injuries. The man whom he first shot was employed in his place. A large trunk, full of wedding dresses, valued at $2500, was seized by the custom house authorities at New York on Saturday. It is reported that the wife of a New York official recently returned from Europe with $100,000 worth of goods in her trunks. Henry Conners, of Montrose, N.J., wagered on Saturday that he could drink a pint of whisky and a gallon of beer in one hour. He did what he wagered, but died of the effects in a few hours. He was 45 years of age. Stephen Harris, a civil engineer of Pottsville, was killed on Tuesday at Trackville. While attempting to jump from a coal train he fell 11 under the wheels, and the whole train passed over him. David. C. Stiles and Edward Yorke, prominent. citizens of Rahway, N. J., quarrelled about drinks, on Saturday evening, and Stiles was fatally stabbed by Yorke. MAIL CONTRACT.-The Post Office Department has awarded to Dinan & Ramsey the W Contract for carrying the mail from Moorton to " Leipsic, four and a half miles and back, six times a week, at $349 a year.

14. March 27, 1874 Alexandria Gazette Alexandria, VA
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FROM RICHMOND. RICHMOND, Mar. 26.-The principal business that occupied the attention of the Senate to-day was the discussion of the bill looking to the consolidation of the Richmond and Danville and Piedmont Railroads. The joint resolution for an extension of the session of the Legislature, was taken up but no definite action had. The committee to whom the bill had been referred reported in relation to the division of cities and towns into wards. In the House of Delegates, a bill was introduced to incorporate the Ladies' Memorial Association of Manassas. The joint resolution asking the Seuators and Representatives in Cougress to vote for an appropriation by Congress to William and Mary College, was agreed to. The bill to provide for the lease of the penitintiary was postponed until Tuesday next, and the tax bill was considered until adjournment. Several of the members of the "Press Convention" were ou the floor of the two Houses of the Legislature to-day, to whom, of course, the "privileges" were extended. A petition is before the Legislature asking an appropriation of $2,500 to the Central Lunatic Asylum, to be used in building a ward for violent patients, sixteen of such being represented to be in different jails in the State. The argument in the Coleman defalcation case was concluded to-day, and the case given to the jury at about 2 o'clock. who, aftera very short absence, returned into Court, and through their foreman, rendered a verdict of guilty, as certaining the term of imprisonment to be four 1 years in the penitentiary. The coupsel for the accused immediately made a motion to set aside the verdict and to arrest sentence, which was overruled. It is thought the case will be taken to the Court of Appeals. Coleman is still to be tried on an indictment for embezzlement and lareeny of the public funds. The argument in the case of Taylor VS. f Hutchioson, before the Court of Appeals, was concluded to-day by Mr. H. O. Claughton for the appellant, and the case submitted. The "Press Convention" which has been in a session here, adjourned to-day, a resolution having bden adopted to charge local rates for advertisements from advertising agents. Maj. Kelley, of Fredericksburg, was requested to deliver an address at the next meeting, and S Messrs. Bail, Lovell and Conrad were appointed a committee to prepare an address to the publishers of the State. The Dollar Savings Bank, which suspended during the recent financial crisis, was to-day adjudged a bankrupt in the U. S. District Court. A colored man employed as engineer in the bone mill of Messrs. J. G. Downward & Co., was caught in the belting attached to the machinery this morning and crushed to death.

15. March 31, 1874 Evening Star Washington, DC
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When a street car conductor quits the road now they call him a "retired packer." The Dollar Savings bank, of Richmond Va., which suspended during the recent tinancial crisis, has been adjudged bankrupt in the United States court.

16. April 30, 1874 The Daily Dispatch Richmond, VA
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APRIL 30, 1874 THURSDAY LOCAL MATTERS. FORGERY. THE SUPREME COURT OF APPEALS TAINS THE JUDGMENT OF THE HUSTINGS COURT. Caleman to go to the Penitentiary Unless Pardoned by the Governor. The facts of this interesting case, as they given on the trial in the Hustings Court, were were fully reported in the Dispatch, and are therefore familiar to our readers. By the verdict of the jury and judgment the Hustings Court Coleman was found guilty of having forged public record the Second Auditor's office of this State, and the sentenced to four years' imprisonment in penitentiary. A writ of error and supersedeas was awarded by one of the judges of the Court of Appeals to this judgement of the Hustings Court, and the case was ably and elaborately argued both by counsel for Coleman and the Attorney-General last week. and unanimous decision reudered by the Court deliverAppeals yesterday-Judge Bouldin ing the opinion of the court. The first error assigned to the judgment lower court was its refusal to set aside the the verdict and judgment on account of the alleged insanity of the witness Colonel Jos. Mayo. Jr., late Treasurer. The Court of Appeals held that this was not error because the evidence and certificate Mayo of Judge Guigon showed that Colonel was not so insane at the time of giving his evidence in the case that he did not know perfectly well what he was talking about and doing. The second error assigned was the overruling of the demurrer to the indictment. This was also held not to have been error, and that the indictment was good. The third error assigned was the refusal of the court to arrest the argument before the jury until the counsel could prepare the bills This of exceptions to the rulings of the court. was also overruled-the Court of Appeals holding that this was a matter of practice as which no strict rule could be laid down, but to must be left to be cont rolled by the sound discretion of the court below in each case. The next error is as to the instructions given and refused by the Hustings Court. chief objection to the instructions being The they affirm that warrant-book of the that Sinking-H und is public record, the subject forgery as such, and is evidence per se of what it contained. The counsel for the prisoner insisting that it is not a public not re. cord authorized by law to be kept, and is evidence per se of what it contains. The Court of Appeals, after a full definition of what constitutes a public record, held that this warrant book of the SinkingFund was public record, and that the instruction of Judge Guigon on this point, too, was correctly given, thus disposing all the errors assigned to the judgment of the Hustings Court, and affirming that judgment throughout. This, of course, sends the prisoner to the penitentiary unless the Governor interposes. Judge Bouldin's opinion was one marked learning and ability. and was to the minds of all the members of the bar present (except, perhaps, the counsel for the prisoner) a complete demonstration of the views taken by the court. UNITED STATES DISTRICT COURT, WEDNES DAY-Judge Robert W. Huches presiding. The following business was disposed of In the matter of Armistead & Peek, bankthe assignee, William B. Mathews, court, filed rupts, his answer to the order of the and exhibited his account as assignee, On the petition of Thomas Danuill, the assignees of Willoughby Newton were dered to show on the 6th of May proximo, why certain property set asideas homestead and exemption, should not be surrendered sold. meeting of the creditors of John Cowles, meet bankrupt, A was ordered to be called to in Norfolk on the 20th of May, proximo. In the case of W. H. Moody, bankrupt, assignee was ordered to give a deed for the the real estate purchased under the order court. the In the matter of James R. Young, bankthe assignee was ordered to convey e certain rupt, real estate sold and pay over the proceeds arising therefrom. The sawe order was entered in the case Benjamin In the matter F. Cocker. of Mary E. Russell, bank a restraining order was granted prohibiting rupt," the sheriff and certain trustees from any portion of the real estate of of the rents petior collecting any portion the tioner, thereof, and giving said petitioner power benefit collect them and apply to the and of herself the matter and family. of Maria L. Hurt, bank In 2 special commission was ordered of to consider rupt, and make report to this court claims the amount and priorities of certain against the bankrupt, the case of Leandor Woodson, Emmett to be Crump, In the assignee, was ordered of May summoned to appear on the 5th day should cause, if any e can, why he and show fined and attached for his contemp not in not be complying with theorder of the court of his ur requiring him to make a settlement accounts as assignee of said bankrupt. Against the Dollar Savings Bank 481 proofs of debt have been filed with the Reg n ister. Judge Hughes will go to Norfolk to-day will return next week. SurreME COURT OF APPEALS. The following business was transacted in the Supreme Court of Appeals yesterday Buford US. Pollok Pollok's administrator vs. Sutherlin, Jones, &c. Adams et als. Petitions for rehearings these three cases were denied. Fultre Davis etals. Appeal allowed Nelson. from a decree of the Circuit Court of (Staunton case.) savings Institution vs. Francis the Lexiegton Smith. Appeal refused to deeree of CircuitcCourt A. of Rockbridge county. A CIVILD ACCIDENTALLY Poisoned.-Acase accidental poisoning occurred about Tuesday of at Mr. S.N. Davis's, who resides interest- one and balf miles from the city. An old, iug little child, about eigbteen months daughter of Mr. Ryland Norvell, in play- conabout the room got hold of a bottle taining a mixture of of aconite, belladona, and chloroform (which is a deadly poison) thinking it was something nice, she took considerable ewallow of it, and was immediately taken with convulsions, which of the lasted

17. April 4, 1875 The New York Herald New York, NY
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DEFAULTING BANKERS. RICHMOND, Va., April 3, 1875. John E. Bossieux, President, and Thomas J. Armistead, Cashier, of the Dollar Savings Bank, an institution which collapsed during the panic in September, 1873, were arrested to-day on warrants charging them with the embezzlement of $14,000 of the lunds or the bank and with making traudulent entries to conceal the same. They were committed to jail, bail being refused. The affairs of the Dollar Savings Bank are now in the hands of the United States District Court.

18. April 5, 1875 The Wheeling Daily Intelligencer Wheeling, WV
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Bank Officers Arrested for Em. bessiement. RICHMOND, A pril 3.-John E. Bosseaux, President, and Thos. S. Ormstead, Cashier, of the Dollar Savings Bank, which collapsed in the panic of 1873, were arrested today, charged with embezzling $4,000 of the funds of the bank, and with making fraudulententries. They were committed to jail, bail being refused.

19. April 5, 1875 Daily Kennebec Journal Augusta, ME
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virginia. Arrested for Embezzlement. Richmond, April 3. John E. Bossieux, President, and Thos. S. Annistead, Cashier, of the Dollar Savings Bank, which collapsed in the panic of 73, were arrested to-day charged with embezzling $14,000 of the funds of the bank. They were committed to jail until Tuesday, bail being refused. The affairs of the bank are now in the hands of the United States District Court.

20. April 5, 1875 Chicago Daily Tribune Chicago, IL
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CHARGED WITH EMBEZZLEMENT. RICHMOND, April, 3.-John E. Bossieux, President, and Thomas L. Armestead, Cashier, of the Dollar Savings Bank, which collapsed during the panic in 1873, were arrested to-day charged with embezzling $14,000 of the funds of the bank, and with making fraudulent entries. They were committed to jail till Tuesday, bail being refused.

21. April 9, 1875 The True Northerner Paw Paw, MI
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The South. Pete McCartney, George Rankin, Mike Rogers, Joe Rittenhouse and John Hall, the notorious counterfeiters who some time ago escaped from the St. Louis jail, have been recaptured in Texas. John E. Bassieut, President, and Thomas L. Armstead, Cashier, of the Dollar Savings Bank, of Richmond, Va., which collapsed during the panic of 1873, have been arrested, charged with embezzling $14,000 of the bank funds. George Drury, a member of the Louisiana Legislature, has been indicted for participation in the forgery of the General Appropriation 11. Goldsmith's stallion Abdallah was instantly killed at Paris, Ky., on Monday, by collision with another horse while going around the track. He was valued at $80,000. The steamer Bruno was fined $500 at Little Rock, the other day, for violating the navigation laws in not flying the United States flag.

22. April 10, 1875 Martinsburg Independent Martinsburg, WV
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Dishonest Broken Bankers. RICHMOND Va., April 3.-John E. Bossieux, president, and Thomas S. Armstead, cashier, of the Dollar Savings Band, an institution which collapsed during the panic in September, 1873, were arrested to-day on warrants charging them with embezzling fourteen thousand dollars of the funds of the bank, and with making fraudulent entries to conceal the same. They were commited to jail until Tuesday, bail being refused. The affairs of the Dollar Savings Bank are now in the hands of the United States District Court FISH COMMISSION. The Governor to-day appointed General Fitzhugh Lee, of Stafford, R. M. Tidball, of Wincheste,, and Dr. Robertson, of Lynchburg,as Fish Commissioners for Virginia, to aid in the propagation of fish in the waters of that State.

23. May 28, 1875 Alexandria Gazette Alexandria, VA
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John E. Bossieux, president of the Dollar Savings Bank, at Richmond, which collapsed in the panic of 1873, who was arrested some time since, charged with embezzling the fuods of the bank. has been discharged, a nolle prosequi having been entered in his case.

24. June 5, 1875 Martinsburg Independent Martinsburg, WV
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John E. Bossieux, president of the Dollar Savings Bank at Richmond, Va., which collapsed in the panic of 1873, who was arrested some time since, charged with embezzling the funds of the bank, has been discharged, a nolle prosequi having been entered in his case. Moody and Sankey, the American revivalists, continue to hold a number of meetings daily in London.There seems to be no diminution in the number of people who gather to hear them. Among their hearers yesterday were the Earl of Shaftesbury, Lord Cairns, the Earl of. Cavan and many clergymen. Mr. Garrett, who is on his return to Baltimore, has been giving his opinion in very decided terms to the people of Chicago 02 the question of the railroad war. He declares his firm intention to fight the battle out without wavering, and asserts the ability of his road to continue the war and maintain its position.

25. December 19, 1876 The Daily Dispatch Richmond, VA
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DOLLAR SAVINGS BANK. DECISION AGAINST THE SPECIAL DEPOSITORS. JUDGE HUGHES THINKS THAT THOSE WHO DEPOSITED UNDER THE RESOLUTION THE BOARD OF DIRECTORS GUARANTEE ING SAFETY TO THE MONEY NOT ENTITLED TO BE CONSIDERED PREFERRED CREDITORS-THECASESTATED AND THE REASONS FOR THE JUDGE'S OPINIONS. In the United States District Court yes terday JudgeHughesdeliveredhis decision in re The Mutual Building Fund and Dollar Savings Bank-ex parta John Beatty. He said: This savings bank suspended payments over its counter on the 230 of September, 1878- memorable day among bank ers. Its managers, in the belief that the failure would be temporary, invited, a few days after, new deposits by means of and as described in the following advertisement which they published in the Richmond newspapers: DOLLAR SAVINGS BANK This bank will resume solution herewith adopted by the Board of Directors on Resolved That this bank resinne business Monday October 6th. by receiving special separat the trust bank new account, pledging use these deposits only in of checks against that new account and as fast the bank can collect and realize from the loans and to pay pro rata instalments on its present indebteduntil the whole shall be liquidated. the same drawing the usual interest as heretofore. until JOHN E. paid. President BOSSIEUX, Thomas S. Armistead, Cashier. Deposits to an inconsiderable amount were made under this call by a few menone of whom was this petitioner- the bank very soon found itself unable to go on, and closed its doors. In February, 1874. proceedings were taken against it by creditors, and it was duly adjudicated an involuntary bankrupt by this Court. There is no evidence that THE NEW DEPOSITS were marked and kept separate as special deposits; and the fact seems to be that they were received over the counter in the same manner as general deposits are received The advertisement itself virtually announced that the new deposits would be treated as a common fund as to the new de positors, and not treated as special separate deposits, except as against the old depositors. dividend has been declared and paid, without prejudice to the claim of the petitioner, John Beatty, and the other depositors under the advertisement of October 3, 1873, to be paid in full, according to the tenor of the advertisement, as preferred creditors. It is claimed on the part of the petitioner that his deposit under the dvertisement of the 3d of October was special deposit and that the advertisement was contract which this Court is bound equo et bono to specifically execute as a court of equity, I do not concur in either of THESE PROPOSITIONS 1. The deposit of the petitioner was not a special deposit; for it is only where the special money or thing deposited is received by the bank to be kept to itself and returned in corpore on demand that the deposit can be claimed to be special True, the advertisement held out that the lank would receive special separate deposits,' but calling a thing what it is not does not make it what is not. 2. It is claimed for the petitioner that he has a higher equity than the former depositors of the bank created by the advertisement of the 3d of October. I do not think so. The former depositors made their deposits on precisely the same terms in all essential respects (save one) as those on which the petitioner made his deposit, those terms being implied in their case, while in his they were expressed In the exceptional respect to which I al lude the case of the petitioner.is weaker in point of equity than that of the former depositors The contract under the advertisement was virtually that all . THE OLD RESOURCES of the bank, as well as the new deposits, would be first used for paying the checks of the new depositors. The bank proposed to go on with its banking business, and the new deposits were of course intended in the regular course of that banking business to be used for the purpose of making new discounts. As the new deposits were to be loaned out for this purpose, the checks of the new depositors would have to be paid in whole or in part from the moneys taken in on notes already discounted, and which would be falling due, SO that the operation of the new arrangement would be as follows Let the old deposits be known as Class D. They had been loaned out in discounting old paper, which we shall call Class X. Let the new deposits be known as Class B. They were to be loaned out in discounting new paper The advertisement of October 3d was virtually a promise to use THE FUNDS COLLECTED on maturing paper of Class X in paying the checks of the new depositors of Class Bthat is to say, the contract required money belonging ex equo et bono to Class D to be paid to Class B. I think such a contract, so far as it was to operate in that way, was ultra vires. The bank had no power to make it. and the contract when made was contrary to equity, and so far as it had the unjust operation described ought not to be enforced in equity But even if it were a contract free from the two objections of being illegal and contrary to equity, and were such a contract as a court of equity dealing with solvent parties should specifically execute, still this court, as a court of bankruptcy, would be unable to decree specific performance. In its nature this court has little to do with the specific execution of contracts. It has to deal with bankrupts who have broken all contracts, and are unable to perform any of them. It is court whose primary duty is the distribution of assets gathered from the wreck of the estates of bankrupts who themselves have already rifled them of every resource available for the execution of contracts. THE POLICY OF THE LAW under which the Court acts is to avoid preferences, and divide the assets orata, share and share alike, among creditors The (business of the Court in this case is to distribute assets under the terms of the law which, except in favor of liens, requires pro rata distribution. If the new deposits which have been spoken of had in fact been special deposits, duly ear-marked and set aside and held as such. the bank would have been a simple bailee of them, and would have been obliged to return them in kind. But they not