3c9e0526Full suspension
Other: Bank made an assignment to trustees; local bank offered temporary loan which was refused.
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Tight Money Causes a Bank to Fail. MONTGOMERY, ALA., July 6.-Moses Bros.' Bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in the assignment to H. A. Sayre. R. B. Snodgrass and S. M. Levine. They say their assets will amount to more than their liabilities. Neither figure can yet be approximately estimated. The failure is due to stringency of money.
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Business Embarrassments. MONTGOMERY, Ala., July 6.-Moses Bros.' Bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in their assignment to H. A. Sayer, H. B. Snodgrass and S. M. Levin. They say their assets will amount to more than their liabilities. The liabilities are said to be about half a million dollars. Moses Bros. did a savings bank business, and have many scores of depositors among the poorer people. The firm stands very high for integrity. EAST HAMPTON, Mass., July 6.-The Williston mills corporation filed a voluntary petition in insolvency to-day because of an attachment for $40,000 placed on the mills. The corporation is twenty-tive years old. Its present capital is $350.000. The present assets and liabilities are not stated. NEW YORK, July 6.-Solomon & Frank, wholesale tobacco-dealers at No. 85 Maiden lane, assigned to-day to Louis H. Rasconer, without preferences. BOSTON, July 6.-Joseph W. Parker. merchant tailor. made an assignment to-day. Liabilities, $65.000; nominal assets slightly in excess of this sum.
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POOR PEOPLE LOSE ALL An Alabama Savings Bank Fails Half a Million. MONTGOMERY, Ala., July 6.-Moses Bros.' Bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in their assignment to H. Sayre, R. P. Spodgrass and S. M. Levin. They say their assets will amount to more than their liabilities. The suspension is due to the stringency of money. The liabilities are said to be about $500,000. They did a savings bank business, and have many scores of depositors among the poor people. There is a great throng of them around the doors this morning. A local bank offered Moses Bros. $100,000 on Saturday to tide over, but they refused it. Each individual has included his home, all real estate and personal property, in the schedule of assignment.
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POOR PEOPLE LOSE ALL An Alabama Savings Bank Fails Half a Million. MONTGOMERY, Ala., July 6.-Moses Bros.' Bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in their assignment to H. Sayre, R. P. Spodgrass and S. M. Levin. They say their assets will amount to more than their liabilities. The suspension is due to the stringency of money. The liabilities are said to be about $500,000. They did a savings bank business, and have many scores of depositors among the poor people. There is a great throng of them around the doors this morning. A local bank offered Moses Bros. $100,000 on Saturday to tide over, but they refused it. Each individual has included his home, all real estate and personal property, in the schedule of assignment.
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POOR PEOPLE LOSE AL An Alabama Savings Bank Fails Half a Million. MONTGOMERY, Ala., July 6.-Moses Bros.' Bank suspended payment this morning. All their real estate, personal property and bills of exchange have been included in their assignment to 11. Sayre, R. P. Spodgrass and S. M. Levin. They say their assets will amount to more than their liabilities. The suspension is due to the stringency of money. The liabilities are said to be about $560,000. They did a savings bank business, and have many scores of depositors among the poor people. There is a great throng of them around the doors this morning. A local bank offered Moses Bros. $100,000 on Saturday to tide over, but they refused it. Each individual has included his home, all real estate and personal property, in the schedule of assignment.