2353. Oglethorpe National Bank (Brunswick, GA)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
3753
Charter Number
3753
Start Date
May 18, 1893
Location
Brunswick, Georgia (31.150, -81.491)

Metadata

Model
gpt-5-mini
Short Digest
3222f7c15dfbbdab

Response Measures

Full suspension, Books examined

Other: A receiver was appointed (Comptroller ordered an examiner and later a receiver was named) and the Comptroller took charge of the banks.

Receivership Details

Depositor recovery rate
65.5%
Date receivership started
1893-06-12
Date receivership terminated
1899-10-23
OCC cause of failure
Losses
Share of assets assessed as good
16.6%
Share of assets assessed as doubtful
61.1%
Share of assets assessed as worthless
22.3%

Description

Multiple contemporaneous newspaper dispatches report that M. (Max) Ullman, president of the Oglethorpe National Bank, committed suicide on May 18, 1893; the news precipitated depositors' withdrawals, the bank closed its doors the same day, and a receiver was appointed by the Comptroller in mid-June 1893. OCR variants of the bank name (Oglethorpe/Oglethorp/Ogelthorpe) were corrected to Oglethorpe National Bank. Cause classification: run triggered by bank-specific adverse information/embarrassment (suicide amid loan/financial troubles and preexisting weakness); suspension ultimately led to receivership (closure).

Events (6)

1. July 16, 1887 Chartered
Source
historical_nic
2. May 18, 1893 Other
Newspaper Excerpt
M. Ullman, president of the Oglethorpe National Bank, committed suicide in the toilet-room this morning.
Source
newspapers
3. May 18, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Suicide of the bank president (after being asked to repay a loan) and reported prior financial troubles/rumors prompted rapid withdrawals.
Measures
Closed doors; officers said claims would be paid in full; bank examiners were wired for.
Newspaper Excerpt
The news spread rapidly and depositors started a run, and in a few minutes the Oglethorpe National Bank closed its doors
Source
newspapers
4. May 18, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Immediate suspension followed the run triggered by the president's suicide and reports of the bank's shaky condition.
Newspaper Excerpt
In a few minutes the Oglethorpe National Bank closed its doors, followed almost immediately by the First National Bank.
Source
newspapers
5. June 12, 1893 Receivership
Source
historical_nic
6. June 12, 1893 Receivership
Newspaper Excerpt
Comptroller of the currency has appointed Jos. W. Bennett receiver of the Oglethorpe bank, Brunswick, Ga.
Source
newspapers

Newspaper Articles (21)

Article from The Waco Evening News, May 18, 1893

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James E. Horne & Co. Suicide-Bank Suspensions. By Associated Press to The News. NEW ORLEANS, May 18.-A southern afternoon press special from Savannah says that Max Ullman, a prominent merchant and Local Time Card. banker of Brunswick, Georgia, Georgia, committed suicide there this morning. Missouri, Hansas Texas. The Oglethorpe National Bank Passenger Trains-South Bound and the First National Bank, both 10:45 p. a No. I arrives of Brunswick, suspended today. No. 1 leaves 10.55 p, IN Great excitement is said to be there 2:20 p. No. 8 arrives 2:30 D. no No. Sleaves but no further details have been ob. North Bound. tained yet. 6:20 a. . No. 2 arrives 6:40 a. ID No. 2 leaves No. . arrives 3:10 D. a We are ahead of you in one No. . leaves 8:25 p. IX respect," said a German to an No. 1. has through Wagner sleeper to Sar Antonio via Lockhart and Luling American. "We have built a J. K. SMITH church which is so long that it Ticket Agent, Pacido Hotel Block takes a full half hour to go from the entrance to the chancel." Oh Cotton Belt House. GOING WEST. tnat's nothing," replied the Ameri11:15 a . Tarin No. 1 leaves can. We have a church which is Train No. 1 arrives 11:00 a a 80 large that the infant who is GOING BAST. Train No. 2 arrives 5:48 D o taken in at one entrance to be bap. Train No. 2 leaves 6:15 D 1. tized goes out at the other entrance 10.00 8. m Train No. 28 arrives 7.00 a. no Train No. 27 leaves a full-fledged minister with his sec. Between Waco and 8t. Louis solid train vis ond wife. - Fliegende Blaetter. Paragould to St. Louis on Iron Mountain traci


Article from The Record-Union, May 19, 1893

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COMMITTED SUICIDE. The Way & Georgia Bank President Rรฉpaid a Loan. BRUNSWICK (Ga.), May 18.-M. Ullman, President of the Ogelthorpe National Bank, committed suicide in a toilet-room this morning. Beside being President of the Ogelthorpe Bank, he was President of the Brunswick Brewing and Ice Company and a line of river steamers, and was a large stockholder in various enterprises. President Burthage of the First National Bank requested Ullman to repay a loan made the day before. "All right, wait a moment," said Ullman, stepping into the toilet-room. A moment later Burthage heard a report. Ullman was found sitting upright with a bullet hole in the center of his forehead. The news spread rapidly and depositors started a run, and in a few minutes the Oglethorpe National Bank closed its doors, followed immediately by the First National Bank. A slight run was commenced on the Brunswick State Bank, but it met all demands. Mayer & Ullman, wholesale grocers, closed temporarily. The Brunswick Brewery and Brunswick Cotton Factory will also close temporarily. The Oglethorpe Bank was capitalized at $150,000, and the First National at $200,000. The officers of both banks say the claims will be paid in full.


Article from The Indianapolis Journal, May 19, 1893

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Suicide and Two Bank Suspensions. BRUNSWICK, Ga.. May 18-M. Ullman, president of the Oglethorpe National Bank, committed suicide in the toilet room of the bank this morning. He was considered one of the wealthiest men in this section. The supposition is that Uilman had become crazed by financial troubles. The news spread rapidly and depositors started a run. A few minutes later the Oglethorne National Bank closed its doors, and it was immediately followed by the First National.


Article from The Helena Independent, May 19, 1893

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BLEW OUT HIS BRAINS. A Bank President So Starts n Run and Neveral Failures. BRUNSWICK, Ga., May 18.-M. Ullman. president of the Oglethorpe National bank. mmitted suicide in the toilet room of the bank this morning. Besides being president of the Ogiethorpe bank. he was president of the Brunswick Brewing and Ice company and the line of river steamers. and a large stakeholder in various enterprises. President Burthage, of the First National bank, requested Ullman to repay a loan made the day before. "All right, wait a moment." said Ullman, stepping into the toilet room. In a moment Burthage heard a report. Ullman was found sitting upright with a bullet hole in the center of his forehead, The nows spread rapidly and the depositors started a run. In a few minutes the Oglethorpe National bank closed its doors, followed almost immediately by the First National bank. A slight run commenced on the Brnnswick State bank, but it met all demands. Mayor & Ullman, wholesale grocers, closed temporarily. The Brunswick brewery and the Brunewick cotton factory will also close temporarily. The Oglethorpe bank was capitalized nt $150,000 and the First National at $200,000. The officers of both banks say the claims will be paid in full. LINCOLN, May 18.-The Nebraska Savings bank is in trouble. For several days there has been a quiet run on this institution, which to-day assumed extensive proportions. The clearing house was called on for assistance, responded promptly. The officials are confident the bank will weather the storm. It has a capital of $250,000; deposits $150,000. CHICAGO, May 18.-The Evanston National bank. of Evanston, III., closed its doors to. day at the suggestion of the bank examiner. The bank has a capital stock of $100,000, and did business with the broken Chemical National, of this city. A notice on the bank door saya the depositors will be paid in full, and it is said the bank will resume next week. LONDON, May 18.-Stocks opened steady in consequence of the better feeling abroad, and closed firm. but without decided buoyancy. While there WHE an absence of gloomy rumors, a cloud of doubt seemed to overhang the situation respecting several firms which had been temporarily assisted. Operations were very cautions, under the suspicion that the recovery in the market of might only be temporary. The Bank England rate of discount has been advanced to four per cent, the highest for some time.


Article from The Times, May 19, 1893

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PREFERRED DEATH TO POVERTY. Bank President Ullman Suicides-Several Suspensions Result. BRUNSWICK, GA., May 18.-M. UIIman, president of the Oglethorpe National Bank, committed suicide in the toiletroom of the bank this morning. Up to this time he was considered one of the wealthiest men in this section. Besides being president of the Oglethrope Bank he was president of the Brunswick Brewing and Ice Company, and a line of river steamers, and was a larger stockholder in various enterprises. President /Burbage, of the First National Bank, called at the Oglethorpe Bank shortly after opening and requested Ullman to repay a loan made the day before. "All right, wait a moment," said Ullman, stepping into the toilet-room. A moment later Burbage heard a report. Ullman was found sitting upright with a bullet hole in the centre of his forehead. In his pockets were found an ounce bottle of laudanum, and an unsigned bond drawn to protect a large depositor who had demanded his money the day before. The supposition is that Ullman had been crazed by financial troubles, and that his inability to protect his friends drove him to suicide. The news spread rapidly, and depositors started a run. In a few minutes the Oglethorpe National closed its doors, followed almost immediately by the First National. A slight run commenced on the Brunswick State Bank, but it met all demands. Mayor & Ullman, wholesale grocers, have closed temporarily. The firm is composed of Sam Mayer and M. Ullman. The Brunswick Brewery and the Brunswick Cotton Factory will also close temporarily. Rumors affecting the two banks had been in circulation for several days. These became public after the tragedy, causing the runs. The Oglethorpe was capitalized at $150,000, and the First National Bank at $200,000. The officers of both banks say that claims will be paid in full. Bank examiners have been wired for, and pending their arrival nothing definite will be known. Business will not suffer to any great extent. WASHINGTON, D. C., May 18.-Comptroller Eckels this afternoon ordered Bank Examiner John Carskedan, of West Virginia, to Brunswick to take charge of the First National Bank and the Oglethorpe National Bank of Brunswick, both of which closed their doors this morning. The First National Bank had capital of $200,000 and the Oglethorpe Bank of $150,000. The resources of the banks on May 4th, as reported, were for the former $492,000, and for the latter $682,000. Illinois Bank Failure, EVANSTON, ILL., May 18.-The Evanston National Bank, of this city, closed its doors this morning, at the suggestion of National Bank Examiner George B. Caldwell. The bank formerly did business with the Chemical National Bank, of Chicago, but after the failure of that institution transferred its accounts to the Metropolitan National Bank, of Chicago. Nebraska Bank In Trouble. LINCOLN, NEB., May 18.-The Nebraska Savings Bank is in trouble: For several days there has been a quiet run on the institution, which to-day assumed extensive proportions. The clearing house, was called on for assistance and responded promptly, and the bank is confident it will weather the storm. The bank has a capital of $250,000 and the deposits amount to $150,000.


Article from The Herald, May 19, 1893

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A BULLET THROUGH HIS BRAIN, The Sensational Suicide of a Bank President. He Was Asked to Repay a Loan Which Embarrassed Him. Several Banks and Other Business Institutions Suspended in Consequance of the Tragedy, Financial News. / By the Associated Press. BRUNSWICK, Ga., May 18. --- -M. Ullman, president of the Ogelthorpa National bank, committed suicide in a toilet room this morning. Besides being president of the Ogelthorpe bank, he was president of the Brunswick Brewing and Ice company and a line of river steamers and a large stockholder in various enterprises. President Burthage of he First National bank requested Ullman to repay a loan made the day before. "All right wait a moment," said Uullman, stepping into the toilet room. A moment later Burthage heard the report of a pistol. Ullman was found sitting upright with a bullel hole in the center of his forehead. The news spread rapidly, and the depositors started a run. In a few minutes the Ogelthorpe National bank closed its doors, followed almost immediately by the First National bank. A slight run was commenced on the Brunswick State bank, but it met all demands. Mayer . & Ullman, wholesale grocers, closed temporarily. The Brunewick brewery and the Brunswick cotton factory will also be closed temporarily. The Ogelthorpe bank was capitalized at $150,000, and the First National at $200,000. The officers of both banks say the claims will be paid in full.


Article from The Daily Morning Astorian, May 19, 1893

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WOULD NOT FACE DISHONOD. Brunswick, Georgia, May 18.-M. Ullman, president of the Oglethorpe National Bank committed suicide in the toilet room of the bank this morning. President Burthage of the First National Bank requested Ullman to repay a loan made the day before. "All right; wait a minute," said Ullman, stepping into the toilet room. In a moment Mr. Burthage heard a report and Ullman was found sitting upright, with a bullet hole in the center of his forehead. The news spread rapidly and the depositors started a run. In a few minutes the Oglethorpe National Bank closed its doors, followed almost immediately by the First National. A slight run was commenced on the Brunswick State Bank but the bank met all demands. Mayor and Ullman wholesale grocers, closed temporarily. The Brunswick Brewery and the Brunswick Cotton Factory will also close temporarily. The Oglethorpe Bank was capitalized at $150,000, and the First National'at $200,000. The officers of both banks say that the creditors will be paid in full.


Article from St. Paul Daily Globe, May 19, 1893

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FINANCIAL SISUATION. Stockholders of a Texas Bank Allege a Conspiracy to Wreck. FORT WORTH, Tex., May 18.-Stockholders of the Merchants' National Bank of Fort Worth ask for a receiver for the bankand an injunction to prevent the officers from longer acting. The petition alleges bribery and conto wreck the bank. Specific inof alleged misuse of bank and of taking stances of spiracy the the bribes assets by officiais of the bank are set forth in the petition. PHILADELPHIA, May 18.-Execution a judgment for $39,230 was issued yesterday upon against Edwin J. and Charles E. as Edwin J. Howlet A & bag Son, Howlet. paper trading manufacturers. be statement of the firm cannot obtained. PITTSBURG, May 18.-The Godfrey & Clark Paper company, whose financial embarrassment occurred several days will be placed in the hands of an ago, assignee and the business operated firm for the of the creditors. The that will be able to states benefit they ultimately for dollar their indebtedness dollar in a short time the and pay and hold expect of property operate again against it. to take The of judgments entered is Each the amount firm $190,000. his member real and of the firm has placed all of personal property at the disposition of the creditors. The property will aggregate half a million. NEW YORK, May 18.-There was considerable talk late this afternoon of exports of gold by Saturday's European steamer. Estimates placed the shipment on the day named as high as $3,000,000. Lazard Freres, it was said, $1,500,000, and Heidelbach, & Co., $500,000. Ickelheimer will ship At The the other subshippers were not named. treasury it was said that $60,000 gold had been received, but that no specie had been ordered as yet for shipment Saturday. LINCOLN, Neb., May 18.-A small rnn begun on the Nebraska Savings was bank I last Tuesday, which continued and in a scramble for a institution was resulted today, notwithstanding the perfectly assurances few hours solpayment of vent. that the Prompt all the demands depositquieted the nervousness of ors and the excitement was over almost as soon as it begun. Ga., May 18.-Dispatches Ga., state from SAVANNAH, Brunswick, Oglethorpe that the National bank and the of that city, and that doors First National this bank, morning, closed M. Ulman, their of the latter, banks have president cide. These committed been and looked their suiupon as shaky for some time, failure created no surprise in this city. NEW YORK, May 18.-In the United States circuit court Judge Lacoube has granted a decree of $1,671,519 in favor New of the Central Trust Company of York against the City Railway ImproveThe suit was brought foreclosure of a for ment the company. mortgage trust com- of $1,467,000 held by the pany since Feb. 1, 1889, and on which no intorest has ever been paid. The Railway Improvement comwas under pany City organized 1891, the laws with of a prior to Feb. 1, of $1,500,000, increased to subsequently paid-up capital New Jersey which $3,503,500. business was The are chiefly and the purpose of men, incorporators street the railways. company was the construction of WASHINGTON. May 18.-Comptroller Eckels this afternoon ordered Bank Examiner John T. Carskedan, of West take Virginia, to Brunswick, Ga., to charge of the First National bank and the Oglethorp National Bank of Brunswick, both of which closed their doors this morning. EVANSTON, III., May 18.-The Evanston National bank of this city closed its doors this morning at the suggestion B. of National Bank Examiner George Caldwell. The bank formerly did business with the Chemical National bank, of Chicago, but after the failure of that acinstitution it transferred its counts to the Metropolitan National bank, of Chicago. The reasons given for the suspension are heavy withdrawals and the stringency of the money market. All the men connected with the bank declare that depositors will be paid in full, and that the bank will reopen in three days. The is capital stock of the institution $100,000. The bank had $154,7 773 of less deposits subject to check, and a little than $50,000 in cash with which to meet a run. The surplus fund was $245.87.


Article from The Morning News, May 19, 1893

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DID NOT CAUSE SURPRISE. Financiers Here Aware of the Weakness of Brunswick's Broken Banks. Stock of the Oglethorpe Bank Offered in Savannah for Months Without Takers-Only Small Holdings Owned by Local Capitalists-The Bulk Unloaded About a Year Ago-President Uliman a Former Well-Known and Popular Savannahian-Views of a Brunswick Bank President on the Situation. The announcement of the failure of the First National and Oglethorpe National banks of Brunswick, which reached here just after Savannah's banks had opened for business, did not cause much of a stir in local financial circles, as both banks had been looked upon for a long time as shaky institutions. The failure was no surprise to the local ank officials. They have been chary of the Brunswick banks for over a month and were prepared at any time to hear they had closed their doors. Some of the a paper went to protest in New York week ago and in the last few days they have shown other signs of weakness. Quite a large block of stock in both banks was held by Savannahians up to about a year ago, but the holders became, in many instances, dissatisfied with the speculative management of the concerns and unloaded as much as possible. Nevertheless, about $40,000 of the stock was held here by individuals, who will in no wise be affected by the failure as far as their financial stability is concerned. This $40,000 was distributed among about dozen business men. the largest single holdings not footing up over $5,000. President Herman Myers of the Savannah National is one of these stockholders, and he left yesterday for Brunswick to represent the Savannah stockholders' interests. NO MARKET FOR THE STOCK. For several months there has been no market anywhere for Oglethorpe stock. It has been offered repeatedly in the Savannah market, but nobody would touch it. This state of affairs shows how Savannah's financiers have looked upon the broken bank. The suicide of President Max Ullman of the Oglethorpe National caused more surprise and gossip than the failure of the two banks. He was well and favorably known in Savannah, having resided here for many years. He traveled the southeastern states for four years for H. Myers & Bros. and was one of the most popular traveling men on the road. Mr. Ullman left Savannah to go into the cotton business with S. Mayer at Albany and afterward worked for the house of S. Mayer & Glauber in Americus. Later he married one of Mr. Mayer's daughters, who is sister of Mrs. Emanuel Smith of this cfty. Mr. Ullman moved to Erunswick ten years ago with Mayer & Glauber, and shortly afterward became a member of the firm. He took a lively interest in the development of Brunswick and was soon looked upon as one of its most progressive and pushing citizens. He put his money into all the local industries and did every thing in his power to make Brunswick one of Georgia's foremost cities. BRUNSWICK'S LEADING FINANCIER. Nothing was complete in the town unless Max Ullman was interested in it. and when he undertook the organization of the Oglethorpe bank he had no trouble in interesting the monied people of Brunswick and Savannah in the scheme. Those in Savannah who were intimate with him say he was a man highly sensitive of his honor, and they believe when he found himself face to face with the ruin of his cherished financial scheme -the bank-this sensitiveness caused him to take his life rather than meet the people and stand the calumny which he feared would be heaped upon him for the disaster. President C. B. Lloyd of the Brunswick State Bank was in the city yesterday en route to New York for the benefit of his health. As soon as he heard of the suspension of the two banks he wired his cashier. Mr. Cunningham, for particulars and also as to the possible effect on other financial institutions. He received a reply that the failures had not caused as much excitement among the people as had been anticipated and there was practically no rush being made. WILL NOT CRIPPLE BRUNSWICK. For some time." said Mr. Lloyd, "we have been aware that the First National and Oglethorpe were suffering on account of the general financial depression, but were in hopes they would tide over: still the failures were not a surprise to me. The Merchants and Traders Bank the Brunswick Savings and Trust Company, and the Brunswick State Bank are perfectly solvent and will in no wise be affected by the failures. A few minor industries may be temporarily affected by the suspension, but things will, I am satisfied, work out all right. The most regrettable feature of the entire affair was the suicide of Mr. Ullman. He was a public-spirited citizen and Brunswick will miss him. His brother and other relatives are wealthy, and I believe they will see that the Oglethorpe's affairs are properly righted.


Article from The Portland Daily Press, May 20, 1893

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CRAZED BY MONEY TROUBLES, Banker Ulman Took Laudanum and Then Blew Out His Brains. BRUNSWICK, Ga., May 19.-M. Ulman, proprietor of the Oglethorp National Bank, who committed suicide yesterday, was considered one of the wealthiest men in this section. Besides being president of the Oglethorp Bank, he was president of the Brunswick Brewing and Ice Company, and a line of river steamers, and was a large stockholder in various enterprises. President Burbage of the First National Bank called at the Oglethorp Bank yesterday shortly after opening, and requested Mr. Ulman to repay a loan made the day before. "All right; wait a moment," said Ulman, stepping into the toilet room. A moment later Burbage heard a report. Ulman was found sitting upright with a bullet hole in the centre of his forehead. In his pockets were found an ounce bottle of laudanum and an unsigned bond drawn to protect a large depositor who had demanded his money the day before. The supposition is that Ulman had become crazed by financial troubles, and his inability to protect his friends drove him to suicide. The news spread rapidly, and depositors started a run. In a few minutes the Oglethorp National Bank closed its doors, followed almost immediately by the First National. A slight run commenced on the Brunswick State Bank. but it met all demands.


Article from The Roanoke Times, May 20, 1893

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TRAGEDY IN A BANK. Bank President Ulman Commits Suicide and Two Banks Suspend. BRUNSWICK, Ga., May 19.-M. Uilman, president of the Oglethorpe National bank, committed suicide in the toilet room of the bank. Up to this time he was considered one of the wealthiest men of this section. President Burbage of the First National bank called at the Oglethorpe bank shortly after opening and requested Ullman to repay a loan made the day before. "All right, wait a moment," said Ullman, stepping into the toilet room. A moment later Burbage heard a report. Ullman was found sitting upright with a ...liet hole in the center of his forehead. The supposition is that Ullman had been azed by financial troubles. The news spread rapidly and depositors started on a run. In a few minutes the Oglethorpe National base closed its doors, followed almost immediately by the First National. The Brunswick brewery and the Brunswick cotton factory will also close temporarily.


Article from River Falls Journal, May 25, 1893

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THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150,000 and $200,000, will now be divided according to law. THE Brunswick national bank and Oglethorpe national bank, both of Brunswick, Ga., suspended, and M. Ullman, president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) national bank, with a capital of $100,000, were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland, O., were damaged to the extent of $150,000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago. FREDERICK C. SCHENCK, for seventeen years consul to Barcelona, Spain, beginning in Hayes' administration, died at Lafayette, Ind., aged 53 years. THE death of James E. Murdoch, the famous tragedian, aged 83 years, occurred at his suburban home near Cineinnati of various ailments combined with old age. IN session in St. Paul the international convention of press clubs elected John A. Cockerell, of New York, as president. It was decided to establish a home for aged and infirm journalists. AT Bellaire, O., Ethelinda Mayhue has brought suit for divorce against Oliver Mayhue, a grocer. They were married April 20, 1854, and have fourteen children. Cruelty was the charge. THE directory of the world's fair adopted a rule that for the future all children under 12 and over 6 years of age will be admitted to the fair for twenty-five cents. IN the southeastern Kansas coal fields 5,000 miners struck for higher wages. FIRE suffocated twenty-five horses belonging to the People's Outfitting company in Chicago. FIVE distilleries withdrew from the whisky trust and the monopoly was said to be on the verge of dissolution. The headquarters are at Peoria, III. IN St. Louis the stable of the Crum Livery company was destroyed by fire and 150 horses were burned to death and Eddie Quinn, a 7-year-old boy, lost his life in the flames. The total loss was $200,000. A FOREST fire wiped out the town of Bryant. Wis., not a single house of any description being left to mark the town site. No lives were lost. FLAMES destroyed Meed's sawmill, planing mill, boarding house and thirty or forty residences in the south part of Antigo, Wis., the loss being $100,000. FLAMES that started in the mill property of Sample & Cump in Saginaw, Mich., burned a district a mile in length and four or five blocks wide, destroying 275 buildings and other property, the total loss being $900,000; insurance, $600,000. Robert Turner, aged 89. lost his life, and several other persons were injured. AT the National Editorial association in Chicago Walter Williams, of Columbia, Mo., was elected president for the ensuing year. A CONCERT of sacred music closed the Woman's World's Fair Auxiliary congress. No less than twentysix nations and 110 women's organizations were represented in the congress, and every line of woman's work, from household economy to woman in national politics, was discussed. THE forest fires raging in Michigan reached Louis Sand's lumber campnear Lake City and resulted in burning to death eleven men. DOMESTIC trouble caused George Lankford to shoot and instantly kill his wife at Marietta, O., and then to kill himself.


Article from The Cape Girardeau Democrat, May 27, 1893

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CHIEFS of police of many cities met in Chicago and organized a national union with W. S. Seavey, of Omaha, as president. THE wife of Michael Bierge. a wealthy farmer residing near Barnard, Mo., suddenly became insane and killed her 5months-old bat eand herown throat. dying instantly. THE will of Bishop Ames, of the Methodist church, after standing fourteen years was broken at Baltimore, and the estate, valued at between $150, 000 and $200,000, will now be divided ac: cording to law. REPRESENTATIVE negroes of South Carolina met in Columbia and adopted resolutions in which lynching was condemned and an appeal made to the humane people of the state to aid them in suppressing any attempt to violate the law by lynching. THE Brunswick national bank and Oglethorpe national bank, both of Brunswick, Ga., suspended, and M. UIIman. president of the Oglethorpe, committed suicide. FLAMES of an incendiary origin swept away seventeen business houses and residences at Montfort, Wis. Loss, $100,000. THE doors of the Evanston (III.) national bank. with a capital of $100,000. were closed. FIRE in the building occupied by the Dr. Price Baking Powder company in Chicago caused a damage of $115,000. THE King Iron Bridge company's works at Cleveland. O., were damaged to the extent of $150.000 by fire. IN the jail yard at Lake Charles, La., Lewis Taylor (colored) was hanged for assaulting a negro woman some months ago. FREDERICK C. SCHENCK. for seventeen years consul to Barcelona, Spain, beginning in Hayes' administration. died at Lafayette, Ind., aged 53 years. THE death of James E. Murdoch. the famous tragedian. aged 83 years, occurred at his suburban home near Cincinnati of various ailments combined with old age. Ix session in St. Paul the international convention of press clubs elected John A. Cockerell, of New York, as president. It was decided to establish a home for aged and infirm journalists. AT Bellaire, O., Ethelinda Mayhue has brought suit for divorce against Oliver Mayhue, a grocer. They were married April 20. 1854. and have fourteen children. Cruelty was the charge. THE directory of the world's fair adopted a rule that for the future all children under 12 and over 6 years of age will be admitted to the fair for twenty-five cents. Ix the southeastern Kansas coal fields 5,000 miners struck for higher wages. FIRE suffocated twenty-five horses belonging to the People's Outfitting company in Chicago.


Article from Asheville Daily Citizen, June 13, 1893

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, Bank Receiver. I WASHINGTON, June 12.-Comptroller of the currency has appointed Jos. W. Bennett receiver of the Oglethorpe bank, : Brunswick, Ga.


Article from The Times, June 14, 1893

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BETTER FINANCIAL OUTLOOK. A General Feeling That the Worst is Over, Few Small Failures. WASHINGTON, June 13.-The financial condition of the country as viewed from a Treasury standpoint shows general improvement. Bank and commercial failures are fewer, Europe is buying our grain in greater quantities, gold shipments have ceased, at least for the present, confidence is being restored and money is not so tight. The Treasury net gold has increased from $89,000,000 to $91,300,000. and the demand for small money in the West will have the effect to further increase the Treasury gold. The rate of exchange is sufficiently high to warrant the shipment of gold abroad. but the fact that commercial paper is for sale in London has a deterrent effect. There is a general feeling that the worst is passed. the weaker financial institutions and business firms having suecumbed, while those that passed through so far unseathed are the stronger for having weathered the financial storm. More Bank Troubles, SALT LAKE. UTAH, June 13.-The Park City Bank suspended yesterday. The liabilities are $130,000; assets as much. A claim is made that the bank will shortly resume. The assignee says that the depositors are to be paid 80 cents on the dollar. OMAHA, NEB. June 13.-The American National Bank is in the hands of the comptroller. J. L. McCague is president, and the supposed American National's connection with the McCague Savings Bank, which falled yesterday, caused its downfall. There are heavy runs on all the savings banks here this morning, WASHINGTON June 13.-The Comp= troller of the Currency has appointed Joseph W. Bennett receiver of the Oglethorpe National Bank of Brunswick, Ga.


Article from The Morning News, June 14, 1893

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TRAMMELL IS ON TOP. He Stands the Best Chance to Be Internal Revenue Collector. ecretary Carlisle Believed to Have Promised Col. Trammell the Place. The Fight at Athens to Secure a New System of Water Works-A' Receiver Named For the Brunswick Banks. Washington, June 13. -There is nothing brand new about the collectorship of internal revenue for Georgia. Representative Turner has made his speech for his man and the North Georgia people have made other speeches that are presumed to be counter irritant. Secretary Carlisle appears to have promised to put Col. Trammell in the office and the President will hardly go behind the returns this late in the day. Mayor Tuck of Athens was here to-day on his return south from New York. It appears from his statement that the legal cause which called him to Gotham involves a grave local question for his town. Athens had water works built some ten years ago by a northern concern. The works have proved inadequate after a ten years' trial and a contract entered into with a new company is the issue to be met. The original company claim a thirty years' monopoly of the water rights of the town under their contract and they have enjoined the new company, who have their works nearly complete, from doing business. Mayor Tuck thinks the town will overthrow the injunction. Gen. Gordon returned yesterday afternoon from New York, and is stopping a short distance out of town with his son Frank. He was in the city to-day, but made no official calls, it being cabinet day. He is billed for an address in New York at an early date, with Lee and Grant as his subjects. THE BRUNSWICK BANKS. Controller of the Currency Eckles has appointed Joseph Burnett, a young lawyer of that town, as receiver of the broken, Oglethorpe Bank. Mr. Burbage of the First National, which is also crippled, is still here and wants a show to reopen his vaults, but the probability is that he won't be accommodated unless he can pay his debts. However, he will see Controller Eckles again to-morrow and then the matter will be decided. The following Georgians have been granted pensions for services in the Indian wars: Aaron Roff, Jonathan Miller, A. M. Horne, W. J. Avery, William H. Wilder and James Keheley. The following Georgia widows of Indian fighters come in for $8 per month each on recent adjustments: Elizabeth Moore, Sarah E. Alexander, Harriet Miles, Elizabeth King, Martha Sparks, Electra Carter, Belinda Kelly, Elizabeth Ormond and Mary Gilbert. Secretary Hoke Smith will return to Washington to-morrow from Ocean Beach, Va.


Article from The Comet, June 22, 1893

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COMPTROLTER Eckels yesterday ap. pointed receivers for the Oglethorp National Bank, of Burnswick, Ga.,; First National Bank, of Lakota, N. D. First National of Cedar Falls, Ia., and the First National, of Brady, Texas.


Article from The Morning News, July 19, 1893

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MR. MYERS MISUNDERSTOOD The Brunswick Men Thought He Was Reflecting on Them. He Denies that He Used Language Ascribed to Him in Brunswick A Sarcastic Letter Ridiculing Mr. Myers' Interview in This City. Messrs. Mershon and Bennett Deny that They Were Appointed to Pay Political Debts. Brunswick. Ga. July 18. -Herman Myers of Savannah, who was quoted as making sensational statements as to the reasons why Controller Eckels appointed Joe Bennett receiver of the Oglethorpe bank and Judge Martin Mershon attorney for the bank. was confronted with these statements to-day and flatly denied making them. He says that he did not use language ascribed to him in reference to these gentlemen. Mr. Myers went over the bank's assets this morning and when he finished Receiver Bennett requested a statement regarding the interview, obtaining a full and complete denial from Mr. Myers. The denial was made in the presence of Mr. Myers' attorney, Judge Spencer Atkinson. Judge Martin Mershon, Receiver Joseph Bennett and Book Keeper E. D. Walter. The Times this morning publishes an extremely sarcastic letter from an unknown person, ridiculing Mr. Myers' interview with the MORNING NEWS reporter. Mr. Myers said on the train to-night that he would reply to this in Savannah. DIDN'T REFLECT ON THE BRUNSWICK MEN. Mr. Myers claims that he did not say anything to reflect on Messrs. Bennett or Mershon. He says Mr. Bennett makes a good receiver. Judge Mershon says that so far as his appointment as attorney is concerned. it was not the result of political obligations or of any application from himself, and that his name was not proposed by Congressman Turner or any one interested in politics in the Eleventh district. He disclaims that Mr. Turner or any other man is indebted to him politically, or that he has ever asked Mr. Turner or any other living man for this or any other position connected with politics. Receiver Bennett says his appointment was not in payment of any political debt, and he can prove it. At a meeting to-night of the depositors of the Brunswick State Bank, a committee was appointed to present a petition to Judge Sweat to allow the depositors to examine the books to ascertain the assets and liabilities.


Article from The Morning News, July 20, 1893

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DID NOT DENY THE CHARGES Mr. Myers Reiterates His Statements About Mr. Eckels. He Did Not, However, Charge Mr. Bennett With Being Responsible for the Appointment of Judge Mershon-Mr. Myers Says the Interview With Mr. Eckels Fully Confirms His Position That the Appointments Were Controlled By Politics. Mr. Herman Myers returned yesterday from Brunswick, where he went to examine the accounts of the Oglethorpe National Bank, in view of the proposition which may come from the solvent stockholders to take up the bank's assets and liabilities and re-organize the institution. Mr. Meyers says his examination was very satisfactory SO far as it was carried, but he says he is waiting for a number of statements and other information which are to be sent him before he can make his report, to the solvent stockholders whom he, Colonel Garrard and Mr. J.P. Williams represent as a committee. [The entire business will be looked into by this committee and if the bank's affairs are found in a condition to warrant such action. the stockholders may make a proposition to Controller Eckels to that effect. DID NOT DENY THE STATEMENTS. Mr. Myers was asked in reference to the statement sent out from Brunswick that he had made a denial of the charges published in an interview with him in the MORNING NEWS last Monday. It was reported that he had made a full and complete denial of the charges in the presence of his attorney, Judge Spencer Atkinson, Judge Mershon, Receiver Ben nett and Book Keeper E. D. Walter. "That statement was false," said Mr. Myers. "I denied nothing in the interthe with of exception view, one statement accredited to me to the effect that Judge Mershon was appointed counsel to the receiver by Mr. Bennett. I said that the agreement was that Judge Mershon was to be appointed, by whom do not know. But of the fact that his appointment was to follow and that he was promised the attorneyship, I am positive that I have sufficient proof. 'As to the other statements in the interview in regard to the appointment being controlled by politics and the hasty action of Mr. Eckels in levying a 75 per assessment, they were entirely correct. and I reiterate them. I say again that the stockholders are not at all satisfied with Mr. Eckels' action in the matter. CONFIRMS HIS STATEMENT. Mr. Myers called attention to an interview with Comtroller Eckels which appeared in the Atlanta Journal of Tuesday afternoon. The statement charged that Mr. Myers was an applicant for the receivership. This is a mistake, as Mr. J. P. Williams said in his interview the name of Mr. Myers was suggested to the Comtroller by himself as a business man who he knew would be acceptable to the other stockholders. Mr. Myers, however, could not have given his entire Mr. time to the work and Mr. Eckels refused to appoint him. Myers himself was never an applicant. Continuing his interview, Mr. Eckels says: "On recommendation of Representative Turner, reinforced by the indorsement of Secretary Smith, I appointed Mr. Bennett. Upon further indorsement by Secretary Smith, Judge Mershon, a lawyer of excellent standing, was named as counsel. "A plainer admission of the charges I make," said Mr, Myers "with regard to the above statement could not be desired. I said that the appointment was controlled by politics and this practically amounts to an admission of that statement. "If Mr. Eckels wanted to regard the wishes of the stockholders at all he should have appointed a receiver who, for reasons which have been given before, I would have been acceptable to them. repeat that it is a dangerous precedent and it will certainly prove injurious to national banks and their stockholders if their policy is to be controlled by politics instead of business methods.


Article from The Morning News, March 3, 1894

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AFTER THE STOCKHOLDERS. Some Have Failed to Pay Their Assessment to the Oglethorpe Bank. A bill of complaint has been filed in the United States court by Judge M. L. Mershou, representing Receiver J. W. Bennett of the Oglethorpe National Bank, of Brunswick, against a large number of delinquent stockholders, most of whom reside in Brunswick and Savannah, who have failed to pay the assessment of $75 per share placed on the stock by Controller of the Currency J. H. Eckles. Those against whom the complaint is made are Mr. A. F. Burbage, W. E. Burbage, W. B. Burroughs. F. E. Cunningham. M. Isaac, W. E. Key. Louis Mayer, S. Mayer. F. M. Scarlett, M. Ullman, Mrs. Francis Ullman executrix estate M. Ullman, Mrs. Henrietta Glauber, heir of D. Glauber and S. Mayer and Ullman of Brunswick, Mrs. M. J. Dixon, Maurice Deitch, D. B. Falk agent of A. Falk. Jr., and D. B. Falk, agent for Z. Falk of Savannah, T. C. Kitrell, of Bolen, Ware county, and W. H. Whaley, of Jesup. All the other stockholders, with these exceptions, paid the assessment of $75 per share made by the controller. The bill alleges the insolvency of the bank, the investigation of its affairs and all the particulars which led up to this assessment by the controller, and shows that the total amount of the assessment still unpaid is $59,300, or, in other words. the holders of 532 shares have failed to pay up. Of the delinquents only 30 shares are held in Savannah. Of the 968 shares which have paid the assessment, 483 shares are held in Savannah. The amount of the assessment collected from Savannah stockholders therefore IS $36,222. which may be counted as loss together with the par value of the stock, which is $48,300. The holders of stock in the Oglethorpe National Bank in Savannah with the amounts held areas follows: Mrs. F. J. Abraham 2 shares, Appel & Schaul 10, Mrs. Kate A. Baldwin 20, J. J. Dale 20, A. Einstein & Sons 15, A. S. Eichberg 5, Eckman & Vetsburg 10, G. Eckstein 15, G. Eckstein & Co. 5. M. Ferst & Co. 7, S. Herman 25, W. C. Jackson 75, William Kekoe 25, A. Leffer & Son 15, S. Meinhard 30, H. Myers & Bro. 48, Savannah Fire and Marine Insurance Company 40, M. Solomons 13, A. Vetsburg 5. J. P. Williams 40, and David Wells 38. Those in Savannah who have failed to pay the assessments are: Mrs. M. J. Dixon 12, Maurice Deitsch 15, D. B. Falk, agent, 3.


Article from The Morning News, February 3, 1895

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for Mrs. Way, against the Royal Insurance Company of London, England. Col. Way had a policy of $7,000 with this company on his house and furniture at Beaulieu, and the fact that one of these insurance cases has already been tried in the city court here, will give it added interest. The testimony in this case will probably be taken before a master in chancery, and the facts at issue given to the judge for his consideration. Those of the sailors of the bark Nevada, which was libelled at this port and to whom money is probably coming out of the registry of the court, are awaiting this session with interest in the hope that the case will be decided, and they will get what is due them if anything is due. This case has been in the court for more than two years and a half, and those of the sailors who had the patience, and who have not died, are still here waiting to see what the result will be. The United States will also proceed against Jacob Rauers for the purpose of condemning certain lands on St. Catherine's Island for the purpose of establishing a lighthouse station there. There are many other cases of minor interest and importance to come before the court, and the session is likely to be a long one. The suit of J. W. Bennett, receiver of the Oglethorpe National Bank of Brunswick, against a large number of the stockholders for the assessments levied on their stock will perhaps be of much interest on account of the fact that many of the stockholders sued reside in Savannah.