First National Bank (Norfolk, VA)

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Failure of the First National Bank of Norfolk. [Special telegram to the Dispatch.] NORFOLK, Va., May 26.-The First National Bank of Norfolk has failed, and the result will be very serious, it is thought. The following notice on the door of the bank this morning created quite a sensation in financial circles: "For prudential considerations the directors of the First National Bank deem it due to all concerned to suspend on and after today, May 26, until Tuesday, June 2d, 1874."

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SUSPENSION OF A NORFOLK (VA

) BANK.-A special to the Richmond Enquirer from Nortolk, dated the 26th instant, says: "The First National Bank of this city suspended this morning. At a meeting of the directors this afternoon it was ascertained that the bank had hopelessly failed. It is stated on the street that the depositors will only realize about 25 cents on the dollar. Several merchants here will suffer by this loss, but none will be foreed to suspend business."

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SUSPENSION OF A BANK

-A special to the Richmond Enquirer from Norfolk, dated the 26th inst., says: "The First National Bank of this city suspended this morning. At a meeting of the directors this afternoon it was ascertained that the bank had hopelessly failed. It is stated on the street that the depositors will only realize about twenty-five cents on the dollar. Several merchants here will suffer by this loss, but pone will be forced to suspend business."

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SUSPENSION OF A NORFOLK (NA

) BANK A special to the Richmond Enquirer from Nortolk, dated the 26th inst., say: s: The First National Bank of this city, suspended this morning. At a meeting of the directors this afternoon it was ascertained that the bank had hopelessly failed. It is stated that the depositors will only realize about twenty-tive cents on the dollar. Several merchants here will suffer by this loss, but none will be foreed to suspend business.

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The Piedmont "Virginian" announces the death at Orange Court-house, on the 19th, of Professor John F. Allen, in the 50th year of his age. Hon Willoughby Newton, of Westmoreland, a well known Virginian, in other days, who once beat Senator Hunter for Congress, died on the 23d inst. Congressman Mellish, of New York, who was sent to the Lunatic Asylum in Washington last week, died there Sunday, William Shakspeare Caldwell, who gave $250,000 for a Asylum in Richmond, Va., a few days since, died in New York Monday. W. T. Anderson, of Lynchburg, Va., has fallen heir to $150,000 by the death of a relative in England. The First National Bank of Norfolk, Va., suspended Tuesday.

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THE FIRST NATIONAL BANK SUSPENSION

-We tear the suspension of this bank is much worse than at first supposed, as rumors contipue to find their way about putting worse and worse features on the matter. At the best it is thought with good management that the depositors will sustain a loss of 25 or 35 cents on the dollar. This is not SO bad in a bank failure, it is true, but it is bad enough. The First National Bank has never been considered A No. 1 since it sustained a loss of some twenty-five thousand dollars under its first president. Since then it has been kept afloat by putting the best foot forward until the present time, when we hear that a meeting of merchants and others interested took place to investigate 2nd discuss its condition with the view, it is said, of coming to its rescue. It was thought and put forward as an exhibit at this meeting that $25,000 aid would put it on its pins again; but on close investigation by an old merchant, an expert in such matters, a deficit of some filty or sixty thousand dollars was apparent. even after all the stock was considered sunk. Not, we presume, in the latter case, allowing each stockbolder liable for double the amount of stock held by him, as the national bank law put it. Fortunately for the monetary and commercial interests of this community, this bank-failure in no way involves our other banks or merchants, and cannot reasonably have any effect in impairing public confidence in our other banking institutions, for the reason that the First National, as we said before, has not stood in good repute since the loss it sustained in its youthful days.-Norfolk Day Book, May 28th.

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Items of General News

SUSPENSION OF A NORFOLK (VA.) BANK. -A special to the Richmond Enquirer from Norfolk, dated the 26th inst., says: The First National Bank of this city suspended this morning. At a meeting of the directors this afternoon it was ascertained that the bank had hopelessly failed. It is stated on the street that the depesitors will only realize about twenty-five cents on the dollar. Several merchants here will suffer by this loss, but none will be forced to suspend business. The Arkansas House of Representatives on Saturday, by a vote of 47 to 9. adopted resolutions declaring that Senators Dorsey and Clayton obtained their seats by bribery and corruption, and asking the United States Senate, if they do not resign within ten days, to inquire into the circumstances of their election and expel them. The House also passed a joint resolution for a final adjournment on Thursday next. About forty crusaders were arrested again at Pittsburg, Pa., Saturday, and confined in the central police station, charged with obstrueting the sidewalks. They were released upon giving bail for a hearing on Monday. Great excitement prevailed, and large crowds gathered about the police station. The women say they are determined to continue their work, notwithstanding the action of the authorities. CHEAP.-The most fashionable of Saratoga cottages rent for $3,000 for the season of three months, others being $2,500, others $2,000, and so on down to $500. Who wouldn't have so cheap an article? Hon. David B Mellish, member of the House of Representatives from New York city, who was taken to the Government Asylum for insane persons some two weeks since, died in that institution OH Saturday afternoon. It is reported that two fast day trains soon on adelphia will and be put Pittsburg, the road which between will Pbil- stop only at Harrisburg and Altoona, and run at the rate of forty-five miles an hour. Bishop Clark, of Rhode Island, has issued a pastoral letter urging that all the churches in his diocese take up collections for the relief of sufferers by the Southern inundations. Governor Seymour, of New York, authorizes the Utica Observer to announce h that he is out of the race for Governor, and "refuses to be a candidate for any office in the gift of the people." James R. Randall, author of Maryland, My Maryland," has written a poem entitled "Alexandrine," the refrain of d which is of the Tennyson "Alexandrovna" order. o The President's Long Branch cottage this season will be "the Executive mann sion by brevet." A new "drag" is being o built to receive guests at the depot. e Ex-Gevernor Rufus B. Bullock, of d Georgia, the carpet-bagger, that abscondit ed after depleting the treasury, has turned n up again in New York.

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Poreign Affairs

LONDON, May 2S.-A midnight train of American Pullman pal cars will be put ou the Midland Railway between London and Leeds, Sueffield and Bradford, Dext Monday. Similar cars will be run directly between this and Liverpool as soon us the Midland is open to the latter place. HAVANA, May 28.-The journals of to-day discoss the scandalous increase of contraband goods introduced into the island concea ed in barrels of flour. The Voz says a matter 80 grave deserves immediate investigation by the In tendents without waiting orders from the United States, and this contraband game has been carried on on a large scale for many years. Many of the reputable merchants express the opinion that Gen. Concha will be able to stop smuggling, provided he treats all concerned in the business with impartial severity instead of the jaxity heretofore in vogue. ROME, May 28.-The health of the Pope is very much improved to-day. and he is able to be about, but his physicians advise him not to go into the open air. PARIS, May 29.-The Minister of Interior has issued an order prohibiting the sule in Paris of the Nineteenth Century newspaper, because "it is offensive to public morality." LONDON, May 29 -A despatch to the Standard says Gen. Concha has seized the heights near Artaban and the roads leading from Biscay, by way of Villaral and Gumboa. The army of Don Carlos consequently abandoned Durango, and retired into Guipuzeoa. It is reported the Carlists have received twenty Krupp steel cannons, and are re-organizing their forces. VIENNA, May .-Despatches from represent the condition of the H by Father as serious. Telegrabhie-American Matters. NORFOLK, May 26 -Ata meeting of the directors of the First National Bank, it was ascertained that the bank had hopelessly failed. It is stated on the streets that the depositors will realize about twenty-five cents on the dollar. Several merchants here will suffer by this loss, but none will be forced to suspend business. New ORLEANS, May 28.-Chief State Engineer Thompson writes Gov. Kellogg that 3,000,000 cubic yards of levee is required to be built to save the State from overflow next year, and that Louisiana cannot pay for the construction of more than one-third. He suggests that an appeal be made for national aid. ROCHESTER, May 23.-The German Catholic Convention adjourned last evening. It meets in Cincinnati on the 24th May, 1875. NEW YORK, May 23.-The will of Henry R. Rutgers, of New York, was admitted to probate yesterday. It disposes of the property valued at $2,000,000 in real estate and securities, to his widow and six children. GRAND RAPIDS, MICH, May 28 -J. J. Elliott's lightuing rod manufactory was burned this morning. Loss $35,000. ELWOOD, ILL, May 29.-Fifteen firms were burned out last night; loss $50,000. ST. LOUIS, May 29.-By a cyclone, several houses were unroofed and steamboats lost chimneys. DEFIANCE, OHIO, May 29 -The business square was burned last night. CINCINNATI, May 29.-Judge wayne, of the United States District Court, yesterday rendered a decision in the case of the Newport and Cincinnati Bridge Company, against the United States. The auit was bronght by the plaintiffs to recover $457,000 damages for changing the plans of the bridge during its constraction. The United States District Attorney demurred. Judge Swayne ruled out the demurrer, but gave leave to answer. The case will be heard on its merits. An appeal to the Supreme Court is probable in any event. HALIFAX. May 29.-Theship Alfred, of Drammen, from Pensacola for Liverpool, was abandoned at sea. The crew was saved. WASHINGTON, May 29.-The committee, by a strict party vote, discharged from further consideration Sykes vs. Spencer, in the Alabama Senatorial contest. This confirms Spencer in his seat. CHICAGO. May 29.-Rochefort passed here for New York. No demonstration. PROVIDENCE, R. I., May 29.-The prohibitory liquor law passed both houses. NEW YORK, May 29.-The Southern Bagging Company's wurehouse, on Carbarry and Decatur streets, WHO burned last night: loss $125 000

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Odds and Ends

W. R. TAYLOR, railway postal om Washington to Lynchburg, was SW "IIn 2316 lb no of P arn from the Winebester News, by OHN FREY, special agent, for robbing ai', taken before Commissioner Y and sent to jail in default of $5,00 TII (VA) NTOJUON V NO -A special to the Richmond Enquir om Norfolk, dated the 26th ult., The First National Bank of this city ended this morning. At a meeting of rectors this afternoon it was ascertain at the bank had hopelessly failed. It ated on the street that the depositors ly realize, about twenty-five cents on ollar. Several merchants here will 7 this loss, but none will be forced to put There is a gentleman living on outhwestern Railroad, near Columbu eorgia, who has thirteen daughters. 1ya clothing for them by the и holesal bus, when last in Columbus he boug 70 yards of calico, 100 of lawn, 13 is, 26 pairs of shoes, and other goods coportion. Unlike many fathers ve only one daughter, he paid cash 1 his purchases. Though an old , has never bought a bushel of corn or und of meal, but raises them himse seop pus 'que' uu UJOMS Jessing beq 0 dollars B de NW According to ANN ELIZA YOUN ho ought to know, CANNON'S four e equally divided into two slaves and lers. The first wife rules him becau e is afraid of her, the fourth because in love with her. The two between e drudgery and subsist on bread and $500.00 WELL SAID.-Think before you hat you shall speak, why you eak, to whom you shall speak, hom you are to speak, what will come hat you may speak, what may be the it from what you may speak, and nos teqm 04 eq Aum oq eak. Turn your speech seven ways, ero will never come any harm hat you have spoken. HERE is the pithiest sermon reached: 'Our ingress into life is d bare; our progress through life is e and care our egress out of it we ot where but doing well here, we 0 well there I could not tell more reaching a year.' 10 Hardly bad we time to rejoice irit with our agricultural friends on ilure of the fly, chinch-bug, winter nd them' to put in appearance this hen a small hailstorm struck in to 0 general joy. On Monday last a tion of this kind swept across the wn neighborhood to the serious detrime 7 the growing wheat. Some fields, e told, were injured to the extent of alf. But the range was narrow.hester News, 29th. 100 The body of ALANSON DYER, ied at Rutland, Vermont, in March, I congestion of the lungs, was sinterred for removal. The body und to be petrified, and weighed 200 pounds. At death the weight 45 pounds. The dog tax seems to be worki ell in Virginia. Forty five counties irn $41,000 during 1873; as the om this tax which go to the support of hools. In one county the tax broug nearly two thousand dollars, but 10nome siq] Jo dollars puesnoq 000 à 01 годешер JOJ no pied q ' bose sheep bad been killed by dogs. estimated that the entire State

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THE SUSPENSION OF THE NORFOLK FIRST NATIONAL BANK.-The Norfolk "Day Book" says the depositors n this bank will lose from 25 to 35 cents on the dollar. It adds The First National Bank has never been considered A No. 1 since it sustained a loss of some twenty-five thousand dollars under its first president. Since then it has been kept afloat by putting the best foot forward until the present time, when we hear that a meeting of merchants and others interested took place to investigate and discuss its condition with the view, it is said, of coming to its rescue. It was thought and put forward as an exhibit at this meeting that $25,000 aid would put it on its pins again; but on close investigation by an old merchant an expert in such matters, a deficit of some fifty or sixty thousand dollars was apparent, even after all the stock was considered sunk. Not, we presume, in the latter case, allowing each stockholder liable for double the amount of stock held by him, as the national bank law put it.

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The First National Bank of Norfork, Va., has suspended.

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CURRENT TOPICS AT THE CAPITAL

LOYALTY PROMOTED BY VEGETABLES. WASHINGTON, Tuesday, Jan. 22, 1878. Yesterday General Sherman received from Major Brisbin, commanding the post at Fort Ellis, Montana, reports of the company gardeners for the year just ended. They state that the troops have for two years been constantly in the field during all the Summer, or growing months; yet both seasons they have had excellent gardens. The amount of perishable stuff produced was enormous. There have been no desertions from Fort Ellis for a long time, and the commander attributes this in a large measure to the manner in which the soldiers are fed and cared for. The vegetables raised were potatoes, onions, turnips, carrots, beets, parsnins, salsify, and cabbages. They were cultivated in twenty-six and a half acres, by companies F. G, H, and L, of the 2d, and company G of the 7th Cavalry. DRIBLETS FOR CREDITORS. The Controller of the Currency has declared a dividend of 45 per cent in favor of the creditors of the Third National Bank of Chicago, and 25 per cent in favor of the creditors of the Central National Bank of Chicago, payable as soon as the schedules are received from the receivers and examined. He has also declared dividends in favor of the creditors of the following banks: First National Bank of Norfolk, Va., 10 per cent, making in all 45 per cent; First National Bank of Delphi, Ind., 25 per cent, making in all 50 per cent; First National Bank of Duluth, Miun., 20 per cent, making in all 65 per cent, and 7 per cent in favor of the creditors of the First National Bank of Selma, Ala., in all 42 per cent. A SWEDE LEARNING FROM AMERICANS. Lieutenant Smolenski, of the Swedish Artillery, is passing a few days in Washington as the guest of Mr. Thomas P. Morgan, president of the Board of Fire Commissioners. Lieutenant Smolenski was one of the Commissioners from his country to the Centennial Exhibition, and while in Philadelphia became much interested in the American plan of dealing with fires in large cities. On returning to his home he obtained leave from his Government to come back and make a tour of American cities 110 order to give our Are systems a more complete examination. He is an enthusiast on this subject, spending much time in the engine houses and riding on the engines with the firemen when they are called out by an alarm. He will leave for Chicago in a few days.

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LIABILITY OF STOCKHOLDERS

-In the United States Circuit Court yesterday G. E. Bowden, receiver of the First National Bank of Norfolk, recovered by the verdict of a jury $1,376 against Lipman Seldner, a stockholder. The judgment IS for the benefit of the creditors of the bank, Mr. Seldner being held liable to the amount of his stock under the banking act. He held stock to the amount of $1,000, and $300 was stock dividend received by him, the $76 being interest.-Baltimore Sun, 10th.

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debts, dues, and demands due the state. Under this act many bonds were put out with coupons, which expressed on their face that they were receivable for taxes.

On the seventh of March, 1872, however, the general assembly passed another act pro- hibiting the officers charged by law with the collection of taxes from receiving in payment thereof anything else than coin, or treasury, or national bank notes. The supreme court of appeals of Virginia decided at its Novem- ber term, 1872, in the case of Antoni against Wright, that in issuing these bonds the state entered into a valid contract with all persons taking the coupons to receive them in pay- ment of taxes and state dues; that the act of 1872, so far as it conflicted with this contract, was void; and that the writ of mandamus was the proper remedy to compel a collector to accept the coupons in question when offered in payment of taxes.

On the fourteenth of January, 1882, the general assembly passed another act, entitled "An act to prevent frauds upon the common- wealth and the holders of her securities in the collection and disbursement of revenues," which provided, among other things, that coupons should not be received for taxes until their genuineness had been established by an appropriate judical proceeding, the nature of which the act duly set forth.

On the twentieth of March Andrew Antoni tendered to the treasurer of the city of Rich- mond a coupon for $415 in payment of taxes. It was refused and Antoni potitioned the su- preme court of appeals for a mandamus to re- quire its acceptance. That court being equally divided in opinion on the questions involved, denied the writ and the case was brought to this court for review Chief Justice Waite in delivering the opinion of the court says the question we are now to consider is not whether if the coupon tendered is in fact genuine, and such as ought un- der the contract to be received and the tender is kept good, the treasurer can proceed to collect the tax by distraint or such other process as the law allows, without mak- ing himself personally responsible for any trespass he may commit, but whether the act of 1882 violates any implied obligation of the state in respect to the remedies that may be employed for the enforcement of its contract if the collector refuses to take them.

The right of the coupon holder is to have his coupon received for taxes when offered. The question here is not as 'to that right, but as to the remedy the holder has for its enforcement when denied. At the time the coupon was issued there was a remedy by mandamus from the supreme court of appeals to compel the tax collector to take the coupon and cancel the tax. By the act of 1882 the following changes are made in the old remedy: First, the taxes actually due must be paid in money before the court can proceed after the collector has signified in the proper way his willingness to receive the coupons if they are genuine and in law receivable; second, the coupons must be filed in the court of ap- peals; and third, they must be sent to the local court to have the fact of their genineness and receivability determined, subject to an ap- peal to the circuit court and the supreme court of appeals. As the suit is for a mandamus all the provisions of the general law regulating the practice not inconsistent with the new law remain, and if the petitioner succeeds in getting his peremptory writ he will recover his costs. No issues are required that it would not have been in the power of the collector to raise be- fore the change was made, and there is no ad- ditional burden of proof imposed to meet the issues, so that the simple question is whether the requirements of the advance of the taxes and the change of the place and manner of trial impair the obligation of the contract on the part of the state to furnish an adequate and efficacious remedy to compel a tax col- lector to receive the coupons in payment of taxes in case he will not do it without com- pulsion. In the opinion of this court they do not.

Inasmuch as we are satisfied that a remedy is given by the act of 1882, substantially equivalent to that in force when the coupons were issued, we have not deemed it necessary to consider what would be the effect of a statute taking away all remedies. The judg- ment of the Virginia supreme court of appeals is affirmed. Justices Field and Harlau dis- sented.

### MR. JUSTICE FIELD DISSENTS.

Justice Field in his dissent says: "I am not able to agree with the majority of the court in the judgment in this case, nor in the reasoning on which it is founded. The legislation of Virginia which is sustained appears to me to be in flagrant vio- lation of the contract with her creditors under the act of Mar. 30, 1871, commonly known as the funding act; and the doctrines advanced by the court, though not so intended, do, in fact, license any disregard of her obligations which the ill-advised policy of the legislature may suggest. I find myself bewildered by the opinion of the majority of the court. I confess that I cannot comprehend it, so for- eign does it appear to be to what I have here- tofore supposed to be established and settled law, and I fear that it will be appealed to as an excuse, if not justification, for legislation amounting practically to the repudiation of the obligations of states and of their subordinate minicipalities-their cities and counties. It will only be necessary to insert in their statutes a false recital of the existence of forged and spurious bonds and coupons as a plausible protext for such legis- lation-and their schemes of plunder will be accomplished. No greater calamity could, in my judgment, befall the country than the general adoption of the doctrine that it is not a constitutional impairment of the obligation of contracts to embarrass their enforcement with onerous and destructive conditions and thus to evade the performance of them. I am of opinion that the judgment of the court of appeals of Virginia should be reversed and the cause remanded with instructions to award the mandamus.

### THE OTHER CASES DECIDED

are as follows: No. 166, Orsor Adams, substi- tuted for George E. Bowden, as receiver of the First National bank of Norfolk, Va., ap- pellant vs. Jacob C. Johnston and Betsy Val- entine. Appeal from circuit court of the United States for the district of New Jersey. Decree reversed with costs and cause re- manded with directions to enter decree in conformity with the opinion of this court. Opinion of Mr. Justice Blatchford. No. 22, John N. Cushing et al. appellants vs. John Laird, the younger, et al. Appeal from the cir- cuit court of the United States for the southern district of New Yoak. Decree affirmed, with costs and interest. Opinion by Mr. Justice Gray.

No. 113. J. P. Giraud Foster and James Thomson, garnishees, appellants, vs. John N. Cushing, et al. Appeal from the circuit court of the United States for the southern district of New York. Decree affirmed, with costs.. Opinion by Mr. Justice Gray.

No. 51. James D. Russell et al., appellants, vs. Anne R. Allen et al. Appeal from the circuit court of the United States for the eastern district of Missouri. Decree af- firmed, with costs. Opinion by Mr. Justice Gray.

No. 82. Wallace S. Jones, executor, &c., et al., appellants, vs. Wm. N. Habersliam and Wm. Hunter, executors, &c. Appeal from

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DEPARTMENT DOTS

The national bank notes received for redemption yesterday amounted to $550,000. The receipts from internal revenue yesterday were $368,464, and from customs $1,001,730. The comptroller of the currency has authorized the First National bank of Vassar, Mich., to begin business with a capital of $50,000. The Treasury department yesterday purchased 327,000 ounces of silver for delivery at the New York, San Francisco, and Philadelphia mints. Bids were opened at the Treasury department yesterday for safes for the postoffice at Philadelphia. George L. Damon, of Boston, was the lowest bidder at $4,276. Reports received by the surgeon general of the marine hospital service show that there were no cases of contagious disease in Brownsville, Texas, or Matamoras, Mexico, during the week ended June 19. The comptroller of the currency has declared a final dividend of 81 per cent. in favor of the creditors of the First National bank of Norfolk Va., making in all 571 per cent., amounting to $101,389 paid to the creditors of this bank. ) The President yesterday appointed Frank F. Clausseu to be melter and refiner of the mint at New Orleans, La., vice M. F. Bouzano, suspended, and B. F. Taylor to be assayor of the mint at New Orleans, La., vice Joseph Albrecht, suspended. As attorney for rhe Chicago and Northwestern Railway company, Mr. Emmons Blaine yesterday made argument before the postmaster general in support of an application of that company for the remission of fines and deductions for non-performance of their contracts to carry the mail. The company allege that they are not properly responsible for delays caused by floods. e