2794. Brunswick State Bank (Brunswick, GA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 18, 1893
Location
Brunswick, Georgia (31.150, -81.491)

Metadata

Model
gpt-5-mini
Short Digest
be3d3faf

Response Measures

Full suspension, Books examined

Other: Receivership assigned; attempts to reopen by northern capitalists mentioned.

Description

May 18, 1893: following the suicide of the Oglethorpe National Bank president there was a slight run on the Brunswick State Bank that met demands. The Brunswick State Bank then failed to open on May 26, 1893 and was temporarily closed; attempts to reorganize/reopen were made in June 1893 but the bank remained in receivership and ultimately wound up (receiver activity and lawsuits through 1895–1897). Sequence: run → suspension → receivership/closure.

Events (3)

1. May 18, 1893 Run
Cause
Local Banks
Cause Details
Contagion from the suicide and immediate runs/closings of the Oglethorpe National Bank and First National Bank in Brunswick; depositors' panic and circulating rumors about the local banks.
Measures
Met all demands; paid withdrawals as presented.
Newspaper Excerpt
The news spread rapidly, and depositors started a run. ... A slight run was commenced on the Brunswick State Bank, but it met all demands.
Source
newspapers
2. May 26, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Persistent rumors and loss of confidence following earlier local bank failures and evidence of speculative misuse of bank funds by local bank officers; directors decided to temporarily close the bank amid anticipation of a run.
Newspaper Excerpt
The Brunswick State Bank did not open for business this morning, and remained closed all day. The bank was the repository of the State and the State has in it now $30,000.
Source
newspapers
3. June 7, 1893 Receivership
Newspaper Excerpt
Today was set for hearing the application for a permanent receiver for the bank. ... Messrs. Marsh and Thayer, the northern capitalists who will open the bank, want time to go north to get a cashier and select a president. They have ample funds at hand and only want time to secure officers that the people will have confidence in.
Source
newspapers

Newspaper Articles (23)

Article from The Record-Union, May 19, 1893

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COMMITTED SUICIDE. The Way & Georgia Bank President Répaid 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 Morning Call, May 19, 1893

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STILL THEY GO DOWN Western Banks Keep on Closing Their Doors. Hopes of a Better State of Affairs Are Thrown Out, but Very Vaguely. Special to THE MORNING CALL BRUNSWICK, Ga., May 18.-M. Ullman, president of the Oglethorpe National Bank, committed suicide in the coilet-room of the bank this morning. Besides being president of the Oglethorpe 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 and U!Iman 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 it met all demands. Mayer & Ullman. wholesale grocers, closed temporarily, and the Brunswick Brewery and the Brunswick cotton factory will also close temporarily. The Oglethorpe was capitalized at $120,000 and the First National at $200,000. The officers of both banks say all claims will be paid in full. EVANSTON, May 18.-The National Bank of Evanston, III., closed its doors this morning at the suggestion of the Bank Examiner. The bank has a capital stock of $100,000, and did business with the broken Chemical National in this city, The notice on the doors says depositors will be paid in full, and it is said the bank will resume next week. LINCOLN, 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. The officials are confident the bank will weather the storm. It has a capital of $250,000. The deposits are $150,000. CHICAGO, May 18.-Six hundred thousand bushels of corn were reported sold out in the Board of Trade to-day for account of N. W. Warren & Co. The firm claims to be selvent, but its accounts are tied up by the Columbia Bank failure. MINNEAPOLIS, Minn., May 18.-The run on the Farmers' and Merchants' Bank, which began Saturday afternoon and which reached a climax yesterday, completely exhausted itself to-day.


Article from The Seattle Post-Intelligencer, May 19, 1893

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GEORGIA BANKER'S SUICIDE. M. Ulmann, of Brunswick, Kills Him. self in the Bank. BRUNSWICK, Ga., May 18.-M. Ulmann, president of the Oglethorpe National bank, committed suicide in the toilet room of the bank this morning. Besides being president of the Oglethorpe bank he was president of the Brunswick Brewing and Ice Company and ran a line of river steamers and was a large stockholder in various enterprises. President Burthage, of the First National bank, requested Ulmann to repay a loan made the day before. "All right: wait a moment," said Ulmann, stepping into the toilet room. A moment later Mr. Burth. age heard a report and Ulmann was found sitting upright with a bullet hole in the center of his forehead. The news spread rapidly, and depositors started a run. In a few minutes the Oglethorpe National bank closed its doors, and was followed almost immediately by the First National A run was commenced on the Brunswick State bank. but it met all demands. Mayor & Uimaan, wholesale grocers, closed temporarily, The Bruns. wick 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 that the claims will be paid in full.


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 The Salt Lake Herald, May 19, 1893

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TWO GEORGIA BANKS CLOSE. The President of One of Them Suicides By Shooting Himself, BRUNSWICK, Ga., May 18.-M. UIIman, president of the Ogelthorpe National bank, committed suicide in the toilet room of the bank 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 the First National bank had 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 Mr. Burthage heard the report of a gun, and Ullman was found sitting upright with a bullet hole in the center of his forehead. The news spread rapidly and depositors started a run. In a few minutes the Ogelthorpe National bank closed its doors, followed almost immediately by the First National. A slight run was commenced on the Brunswick State bank, butit met all demands. Mayor & Ullman, wholesale grocers, have closed temporarily; the Brunswick brewery and Brunswick cotton factory will also close temporarily. The Ogelthorpe was capitalized ati$150,000 and the First National at $200,000. Officers of both banks say claims will be paid in full.


Article from The Indianapolis Journal, May 27, 1893

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Banker Charged with Embezzlement. WILKESBARRE, Pa., May 26.-Last February private banker E. V. Rockafellow closed the doors of his bank on 840 depositors. The report of the assignees shewed that depositors would get 4 per cent. A meeting of all creditors was held yesterday. Heretofore it was impossible to serve warrants of arrest on the ex-banker. physicianshaving testified that he was unable to leave his bed. Last evening Constable Bauer, disguised as a delivery man for a grocery store, got access to Rockafellow's kitchen. He made his way up stairs and served nine warrants on the banker charg-. ing him with embezzlement. Rookafellow, however, secured bail in the sum of $25,000 Other Business Troubles. BRUNSWICK. Ga., May 26.-The Brunswick State Bank did not open for business this morning, and remained closed all day. The bank was the repository of the State, and the State has in it now $30,000. TACOMA, Wash., May 26.-The Bank of Puyallup, at Puyallup. closed its doors this morning. A. G. Matthews filed suit for a receiver, stating liabilities of the bank were 880,000.


Article from The Morning News, May 27, 1893

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Atlanta, Ga., May 26.-State Treasurer Hardeman was notified of the suspension of the Brunswick State Bank to-day. This bank was designated some time ago as the depository into which the state taxes from Glynn. Appling, Camden and Wayne counties should be deposited by the officials. About a month ago Assistant State Treasurer W. A. Speer inspected this bank and found its affairs to be in good condition. The state has in the bank $30,899 73, but it will not lose anything, as it has a bond for 850,000. The bondsmen for the bank are W. E. Burbage, W. E. Kay, M. J. Colson. M. Kaiser, W. A. Cunningham, Thomas W. Lamb. H. S. McCraig, M. T. Putnam, M. Nichollson, C.B. Lloyd, John E. duBignon and J. J. Spears. They give in real estate for taxes amounting to $110,000.


Article from Richmond Dispatch, May 27, 1893

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MORE BRUNSWICK TROUBLE. A State Bank Fails to Open for BusinessIts Condition. (By telegraph to the Dispatch.} SAVANNAH, GA., May 26.-A special to the Morning News from Brunswick, Ga., says the Brunewick State Bank did not open for business this morning and remained closed all day. The situation at one time was alarming, but affairs are now undergoing investigation. and nothing will be done until the bank's condition 18 known. C. B. Lloyd, of the Wholesale and Retail Builders' Supply House, of Brunswick and Savannah, is president and Frank Cunningham cashier. Mr. Lloyd is now in New York. The bank was a depository of the State and the State has in it now $30,000. Rumors affecting the bank began to circulate yesterday. G. Lowenstelt. had placed a draft on New Orleans for $1,800. It was credited to him and he drew several hundred dollars. He called for a balance of about $1,100 and Mr. Cunningbam turned the check down, not knowing whether the draft would be paid and not caring to take the risk. Lowenstein went out threatening to place the bank in the hands of a receiver. Vice-President Alfred J. Crovelt board the rumors and called a meeting of the Board of and all night they discussed the Directors situation and telegraphed friends, anticipating a run this morning. It was finally determined by the directors to temporarily close the bank. The concern has been offered aid from the North. It was organized four years ago by Crovelt & Whitfield as attorneys for eastern capitalists, E. S. Marsh & E. D. Thayer, of Brandon, Vt., being among them. It prospered 80 that the present president, Mr. Lloyd, bought them out and operated it with Cashier Cunningham, who is also a stockholder.


Article from Santa Fe Daily New Mexican, May 29, 1893

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Bank Failures. BRUNSWICK, Ga., May 29.-The Brunswick State bank failed to open to-day. Investigation is now being made into its business. State funds to the amount of $30,000 are deposited in it. Toledo, Ohio.- - The People's bank of North Baltimore, has closed its doors. The announcement was made to depositors that Cashier Waldo had gone to raise money to meet all liabilities and that they would re-open. The closing was precipitated by the failure of Charles Foster, who is a heavy stockholder. This bank has many thousands of dollars of deposits of oil operators and producers, and their loss will be heavy. A tremendous run was started on the First National bank, the only other bank in North Baltimore, but it is promptly meeting all demands as fast as presented.


Article from River Falls Journal, June 1, 1893

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A VILLAGE in Cherokee county, Tex. was almost wiped out by fire and Dr. J. E. Roberts was burned to death in his office. AT Arcola Ill., ex-Mayor Dimond was shot and killed by David E. Miller, his partner. AT the Carson (Nev.) mint coinage is to be suspended after the present month. IN the Arab camp in Chicago three camels and seven Arabian horses, one valued at $10,000. perished during a fire. IN three days thirty convicts died in the Pratt mines near Birmingham, Ala., from pneumonia. AN Indianapolis servant girl, Anna Wagner, is charged with the death by poison of five members of the Koesters family, where she was employed. THE doors of the Farmers' state bank of Brooklyn, Mich., were closed with liabilities amounting to about $20,000. THE death of Gen. Ralph W. Kirkham, a hero of the Mexican and civil wars and a millionaire, occurred at Oakland, Cal., aged 72 years. AT Moberly, Mo., Effie Polson, a 16year-old girl, poisoned herself with strychnine because her father told her to perform household duties while her sweeth art was in the parlor. A BILL passed the Michigan legislature giving women the right to vote at municipal and school elections. IN central Missouri a cyclone did immense damage. The town of Ladonia, with 1,200 inhabitants, was entirely destroyed and twenty persons were killed. At Moberly, Sedalia, Brookfield and other places property was destroyed. TWO-THIRDS of the business portion of Rocklin, Cal., was destroyed by fire. Two MASKED men held up a westbound passenger train at Coleman. Tex., and robbed the express car of all its contents. AT the age of 73 Prof. Moses G. Farmer, of Boston, one of the pioneers of modern application of electricity to industrial uses, died in Chicago of pneumonia. THE failure was reported of the Brunswick state bank at Brunswick, Ga., where the state funds were deposited. THE execution of Robert Alexander and Louis and Howard Pugh, negro boys, took place at Tuskegee, Ala., for criminal assault on Mrs. Cox, a farmer's wife. This was the first legal hanging for this offense in the state. SIXTEEN foreign countries dissatisfied with the single judge plan of making awards at the world's fair have decided to enter into competition among themselves. THE legislature of Michigan adjourned sine die. The session was thirty-five days shorter than the preceding one-in fact, the shortest for the last ten years. A REWARD has been offered by the father of Lou Trenck, who was hanged by an Indiana mob in Jackson county, for the conviction of the ring leaders. IN northwest Louisiana thousands of people have been rendered homeless by the floods, and an appeal has been issued for aid. GEORGE BURGESS, Bert Corey and R. Corey were drowned while fishing in Wall lake near Marshalltown, Ia. IN Illinois a cyclone wrecked many houses, barns and trees at Rentchler, Olney and Lawrenceville and injured several persons. CHARLES FOSTER. one of the most prominent business men in Fostoria, O., and ex-secretary of the treasury, made an assignment with liabilities of $500,000 and assets about the same. Stringency in the money market was given as the cause. IN the library of the Woman's building on the world's fair grounds a marble bust of Harriet Beecher Stowe, the famous author of "Uncle Tom's Cabin," was unveiled by Mrs. Isabella Beecher Hooker, her sister. The entire work is a gift of the women of Connecticut.


Article from The Morning News, June 7, 1893

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A RECEIVER APPOINTED. Lloyd & Adams' House Under Financial Embarrassments. The creditors of Lloyd & Adams, who have been embarrassed through the suspension of the Brunswick State Bank, yesterday petitioned the superior court for the appointment of a receiver to take charge of the business for the purpose of trying to save it from further trouble. Judge Falligant appointed Mr. P. M. Adams, the junior member of the house, receiver with power to conduct the business for the best interests of all concerned. Lloyd & Adams' assets more than cover all liabilities, and with judicious management it is believed things can be straightened out.


Article from The Morning News, June 8, 1893

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BRUNSWICK STATE BANK. The Doors to be Reopened and Depositors Paid in Full. Brunswick, Ga., June 7.-The BrunsState Bank will reopen in fifteen days and all the depositors will be paid. Today was set for hearing the application for a permanent receiver for the bank. At the appointed hour Attorney Crovatt for the bank appeared before Judge Sweat and requested that the bank be allowed to reman in the hands of the temporary receiver for fifteen days, and said that at the end of that time they would reopen. Mr. Crovatt stated that Messrs. Marsh and Thayer, the northern capitalists who will open the bank, want time to go north to get a cashier and select a president. They have ample funds at hand and only want time to secure officers that the people will have confidence in. All the depositors are willing to take their money in installments should they desire it. Security was furnished Messrs. Marsh and Thayer for the amount they will have to supply that was borrowed from the bank under the old management.


Article from The Cecil Whig, June 17, 1893

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1 From the special correspondent of THE WHIG. f Brunswick's Bursting Boom. BRUNSWICK, GA, June 8, 1893. e DEAR WHIG:-I think it was some three ) years ago I wrote you some account of the boom that had started in Brunswick. e Capalists from New York came down here, purchased two or three hundred acres of I town lands, laid out building lots, started the Brunswick Company, induced citizens to take stock in the same, built a magnificient hotel at a cost of 165,000 dollars, built e street railways, had the stock listed at the stock exchange at New York, sold lots at exhorbitant prices, induced people to build, started a boom of speculation and in fact set people crazy as to the future of Bruns. wick. Lots valued at 300 dollars before the $ boom, rapidly sold for one to two thousand, with few exceptions, and all lseemed anxious to speculate in town lots. To accommodate P borrowers, four banks were] started, two f National, the First National bank and the Oglethorpe National Bank, and two State banks, the Brunswick State Bank and the Merchants and Mechanics Among and foremost of the speculators were the presi dents of the Oglethorps National Bank, the First National Bank and the Brunswick State Bank, who it appears now were using the funds of their respective institutions in private speculations, and 80 the thing went on. And now comes the inevitable result. Five or six weeks ago faint rumblings of the storm began to be heard and telt. A few conservative men who had not participated in kite flying, began to set their houses in order. Well the burst came. Talk about your western cyclones, the worst of them were but gentle zephyrs in comparison to the cyclone that struck this town three weeks ago. leaving ruin and desolation in its track. Three weeks ago the president of the Oglethorpe National Bank entered it at 9 a. m., had a short talk with his compeer and associate the president of the First National, then passed into a private room and blew his own brains out. The bank immediately closed its doors (which it would have done at any rate.) As soon as the President of the First National Bank reached his bank he closed its doors and they both remain closed. The failure of the two prominent banks caused a run on the two State Banks, and one week later the Brunswick State Bank went under. The Merchants and Traders Bank still holds out and may weather the storm. We all hope it may, but the feeling of distrust is so prevalent in this community that no one can estimate for the future. The U.S. bank examiners are in charge of the two National Banks and the probabilities are they will be put in the hands et receivers. An effort is being made by the stockholders and directors of the Brunswick State Bank to reopen it and make a fresh start with new officers, but the general impression is that they will all go into the hands of receivers. If so, then great distress and suffering must accrue in the course of winding up these institutions, and it will be a long time before depositors get paid off, if ever. am pleased to be able to say that the Cecil delegation located here escaped the fury of the storm with but slight damage and are safely anchored in port with sails all set for coming breezes. Of course business is in a measure paral. yzed for the present and every thing looks dark. But when the effects of storm have passed away, it will start up again on better and firmer grounds and the sad experience of the last few years will be remembered as a costly lesson to profit by in the future. CECIL Yours,


Article from The Morning News, June 24, 1893

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BRUNSWICK'S STATE BANK. Crovatt to Make Another Effort to Have it Opened. Brunswick' Ga., June 23.-Vice President Alfred J. Crovatt of the Brunswick state bank left tonight for New York on bank business. Mr. Crovatt has been working night and day to get the bank open and if the parties in power fulfill their promises to him and do not impose too many conditions on the depositors he will yet succeed. Mr. Crovatt promises definite news at an early date. Tuesday next is the last day of grace before appointing a permanent receiver and Judge Sweat has been lenient on the bank, but he can hardly give them more time. In a short while Judge Sweat goes on the Circuit and the Grand Jury will have to be discharged, six months elapsing before another convenes- It costs the tax-payers of Glynn $42 every time the Bank case is called, bul the people are willing to pay it if Messrs. Marsh & Thayer, the northern capitalists, will open it.


Article from The Morning News, July 21, 1893

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LIABILITY OF STOCKHOLDERS. Changes of Ownership Must be Advertised for Six Months. Brunswick, Ga., July 20.-The MORNING NEWS correspondent has unearthed news that will create a sensation in Brunswick regarding the re-opening of the Brunswick State bank. It is claimed. on what is considered good authority, that any person who has held stock in this bank and has transferred it to another, is still liable for the stock unless he gives public notice through the press for six months after the transfer. Receiver Brobston was looked for to get his views, but he was spending the night on St. Simons island. One who claims to know the banking laws quotes the code of 1882 as authority for his statements. Under this law the original stockholders of the State bank and all present ones will be liable. The original stock was owned by northern capitalists. They transferred it without giving notice and under this section of the code they are liable. One who claims to be on- the inside stated tonight that the bank would surely re-open since this law had been found. He gives Receiver Brobston credit for unearthing the law by persistent and untiring search for the assets and responsibilities of stockholders. If the bank is re-opened it will doubtless be the result of Mr. Brobston's efforts and close work on the matter. No depositors or any one interested here were aware of this existing law, and the news of it will be received with joy by hundreds of small depositors as well as the large, who did not expect to realize over 5 per cent. Too much credit cannot be given Receiver Brobston for his untiring efforts in behalf of the depositors, and if the bank is reopened as the result of the discovery of the points of law, the credit will belong solely to him.


Article from The Morning News, February 24, 1894

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BRUNSWICK'S STATE BANK. Another Effort to Reorganize the Institution. Brunswick, Ga., Feb. 23.-W. F. Scott. of Brandon, Vt., is in Brunswick investigating the affairs of the Brunswick State Bank in the interest of Messrs. Marsh & Thayer of Vermont, who were very large stockholders. If Mr. Scott finds the bank's condition in anyway favorable he will probably recommend the offering to the depositors and other creditors of a compromise, and endeavor to place the bank back on a sound footing. Messrs. Marsh & Thayer are very much interested in having the affairs of the Brunswick State Bank wound up satisfactorily as it is generally believed that through an incomplete transfer of their stock when they sold to the parties owning the majority stock at the time of the bank collapse, the papers were not complete from a strictly legal point of view, such a gap being left down as to make it an open question whether the receiver cannot sue and hold them liable for the entire amount of stock they formerly owned, under the liability clause relating to transfers of stock. Receiver Brobston, with the assistance of his attorneys, Messrs. Goodyear & Kay, are searching for every point that will enable them to gain money for the creditors, and if the transfer of stock was illegal in Messrs. Marsh & Thayers' case there have been other illegal transfers by parties who are now able to pay. It is barely possible that the parties interested will get together, propose a compromise to the creditors, open the bank and endeavor to work out its assets. rather than risk the court's decision on the transfer of their stock. Marsh & Thayer are able to open the bank, and. should they decide to do so, would continue it and make money. It is thought that the investigations of Mr. Scott will result favorably, but the people are still very skeptical of any rumors that are encouraging in regard to the bank.


Article from The Morning News, September 8, 1895

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MUST SETTLE AT ONCE. The State of Georgia and the Broken Brunswick Bank. Brunswick, Ga., Sept. 7.-When the Brunswick State Bank failed it was a state depository and had $30,000 of the state's money on hand, secured by local bondsmen. Since the failure Receiver Robertson has paid off $23,000 of this debt. The accumulated interest, added to the balance due, makes $10,000 in round numbers yet due. Controller General Wright has written that he can wait no longer for a settlement of this balance and unless the bondsmen pay up the state's attorneys will be instructed to bring suit against them. He promises, however, if the bondsmen pay up at once without suit he will try and get the legislature to refund the interest. Edwin Brobston, Glynn's authorized representative at the Atlanta exposition, returned to Brunswick to-day and is busy arranging to exhibit for shipment, It will be a creditable one.


Article from The Morning News, November 12, 1895

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# BUSH CAN'T CLOSE THE BARS. ENOUGH VOTES PLEDGED TO DEFEAT HIS BILL. Seventy-Eight Members of the House and Twenty-Three Senators Already Under Promise to Vote Against It-The Temperance Committee's Favorable Report to Count for Nothing - Speaker Fleming Champions the Bill to Make a Married Woman's Personal Earnings Her Individual Property. Atlanta, Ga., Nov. 11.-A caucus of members of the legislature opposed to the Bush anti-barroom bill to-day showed that there are in the House seventy-eight members pledged to vote against it and in the Senate twenty-three members. From these figures it will be seen that on a full house the bill might pass the House, but it has no chance to get through the Senate. It is a very seldom thing, however, that there are fewer than twenty absentees in the House and with seventy-eight votes solidly against the bill, and many of the remaining ninety-seven doubtful, it is not probable that the bill can pass the House. Even in the Senate its friends number only nine out of the forty-four members. It is almost a certainty, however, that the House bill will be favorably reported by the committee to-morrow or the next day, the majority of the temperance committee being in favor of it. There will, however, be a minority report against it and then it is probable that the bill will be referred back to the general judiciary committee. These figures on the sentiment of the assembly are from a reliable source and may be depended upon. They are the result of the poil made by the steering committee in charge of the bill. Mr. Screven of Chatham to-day introduced the bill to permanently fix the title and status of the piece of ground on the southeast corner of South Broad and Abercorn streets, in the city of Savannah. One of the most interesting events of the day in the House was the discussion over the bill introduced by Speaker Fleming to make the personal earnings of a married woman her individual property and not liable for the debts of her husband. The speaker took the floor to champion the measure, and was urging it when the House adjourned for the day. It will be the first thing to come up to-morrow morning, when the speaker will again take the floor as the champion of the property rights of women. The speeches in opposition to the bill to-day came from Mr. Middlebrooks of Newton and Mr. Johnson of Hall, both of whom took the position that the bill would open the way to endless frauds through the medium or secret contracts between man and wife. For instance, Mr. Middlebrooks said that a tenant might be furnished supplies by his landlord with which to make a crop and when it came time for settlement under a secret contract the wife might come in and lay claim to most of the crop for labor done in making it, according to a secret contract with her husband at the beginning of the season. This would defraud the landlord out of his rights. Mr. Hodges of Bibb got through his bill, which has an important bearing upon railroad litigation. It provides that employes who may be injured while in the service of a railroad corporation through the negligence of the company's employes may sue the receivers or assigners of such railroads, the suit to be brought in the county where the injury was done. As the law now stands persons so injured can get into court only on consent of the receivers. The House passed the resolution this morning relieving the bondsmen of the Brunswick State Bank from the payment of the interest due the state on the fi. fa. issued by the governor against that bank when it failed to collect the $20,000 of the state's money on hand at the time of the failure. This interest amounted to about $2,000. The failure of the bank was largely due to the demoralization of things caused by the last yellow fever epidemic at Brunswick. Senator Cummings' bill to provide for the revision of the jury lists annually in counties where there is a town of 10,000 people, was passed this morning. The Senate also passed a number of other bills, most of them being of only local importance, and none of especial general interest. Among the new bills introduced in the Senate was one by Mr. Whitney, making prize fighting a felony in this state. Senator Johnson introduced a bill to make it a misdemeanor to charge more than 4 per cent. for the negotiation of a loan, as well as a misdemeanor to charge a rate of interest greater than the rate allowed by law. Senator Bussey Introduced a bill to prohibit the sale of all imitations of butter in Georgia. This bill is after the suggestion of the state commissioner of agriculture, who, in his annual report, called attention to the fact that a great deal of imitation butter was being sold in this state, in defiance of the present laws on the subject, and as this business greatly injures the dairying interests of the state, he suggested that some law be passed that would put a stop to it.


Article from The Morning News, January 22, 1896

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BRUNSWICK BRIEFS. Directors Elected by the Water Company-The State Bank. Brunswick, Ga., Jan. 21.-The Brunswick Light and Water Company elected directors and officers to-day. W. E. Burbage was re-elected president, with an increase of salary over past years. The directors are A. H. Lane, Henry P. Talmadge of New York, W. E. Burbage, C. Downing and W. F. Winecoff. Receiver Brobston of the Brunswick State Bank announced to-night that the affairs of that institution would probably be wound up and the receivership dissolved at the May term of court. Unless the suits against the stockholders now pending result successfully to the receiver the depositors will receive nothing.


Article from The Brunswick Times, March 30, 1897

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# SHERIFF SALES. gia, during the legal hours of sale on the first Tuesday in April next, all those certain lots or parcels of land lying aud being in the city of Brunswick, county and state aforesaid, and known and designated on map of said city as New Town lots numbers 137, 138, 139 and 140, and bounded east by a street, north by interseetion of Y and A streets, west by Y street and south by lot number 136. The said lots being the land upon which the planing mill formerly owned by Brown and Garber is located. Levied on as the property of Brown and Garber, under and by virtue of an execution issued by H. J. Read, tax collector, for their state and county taxes for the year 1896. Amount of tax $55 principal, with interests and costs. Levy made and re- turned to me by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid, known and described in the map or plan of said city as Old Town lot number 443, levied on as the property of H. T. Dunn, under and by vir- tue of a tax Fi Fa issued by H. J. Read, tax collector, for state and county tax for 1896. Amount of tax $39.50 and costs. Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, county and state aforesaid, known and described in the map or plan of said city as Old Town lot number 181. Levied on as the property of W. D. Burbage, under and by virtue of a tax Fi Fa issued by H. J. Read, tax collector, for state and county taxes for the year 1896 Amount of taxes $21.50 and all cos s. Levy made and returned to ane by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid, known and described on the map or plan of said city as the undivided one-half of Old Town lot number 180 and improvements thereon. Levied on as the property of W. M. Bernyman, under and by virtue of a tax Fi Fa issued from the office of H. J. Read, tax collector, for his state and county taxes for the year 1896. Amount of taxes $13.62 and costs Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid, known and described on the map or plan of said city as New Town lot number 2360 and im- provements thereon. Levied on as the property f Mrs. M. Isaac, under and by virtue of a tax Fi Fa issued from the office of H. J. Read, tax collector, for her state and county taxes for the year 1896. Amount of taxes $21.56 and costs. Levy made and returned to me by E. F. Tay- lor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid, known and described on the map or plan of said city as Moore tract, which said lot or par- cel of land is numbered and designated upon the map and plan of said city and of the addi- tion thereto, as made by Eugene Meader, sur- veyor, A. D. 1896. and adopted by the mayor and council of the city aforesaid, on the 26th day of August, 1896, and the 31st day of October, 1896, as that part or parcel of land begin- ning at the intersection of the southern line of the cotton factory tract and the eastern line of Cochran avenue; thence running south 165 feet, thence in an easterly direction 1002 feet to the western line of the boulevard, thence north 165 feet, thence in a westerly direction 1002 feet to the point of beginning. This being 38-10 acres more or less. Levied on as the property of Mrs. Minnie Gann under and by vir- tue of a tax Fi Fa issued by H. J. Read, tax collector, for her state and county taxes for the years 1895-96. Amount of taxes $56 and all costs. Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place, the un- expired leasehold interest in and to that cer- tain lot or parcel of land lying and being in the city of Brunswick, county and state aforesaid, and known and described on the map or plan of said city as the southwestern 1-4 of town commons lot number 17 and improvements thereon, between Cochran avenue and Stone- wall streets. Levied on as the property of Bento Butler, under and by virtue of a tax F Fa issued by H. J. Read, tax collector, for his state and county taxes for the year 1896. Taxes $320 and costs. Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid, and known and described on map or pian of said city as New Town lot number 1158 and im- provements thereon. Levidon as the prop- erty of Miss Mattie Stantev, under and by vir- tue of a tax Fira issued from the office of H. J. Read, tax collector, for her state and county taxes for the year 1896. Taxes $8.80 and costs. Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place, the unex- pired leasehold interest in and to that certain lot or parcel of land lying and being in the city of Brunswick, county and state aforesaid, known and described on uap or plan of said city as the northeastern 1-6 of town commons lot num- ber 87, between Cochran avenue and Amherst street. Levied on as the property of Charles Walburg, agent for the estate of Lucy Walburg, under and by virtue of a tax Fi Fa issued by H. J. Read, tax col ector, for her state and county taxes for the year 1896. Taxes $0.88 and costs Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land lying and being in the city of Brunswick, state and county aforesaid. known and described on the map or plan of said city as the southeastern 1-4 of Old Town lot number 470 and improvements thereon. Levied on as the property of A. G. Sutton, under and by virtue of a tax fi fa issued by H. J. Read, tax collector for his state and county taxes for the year 1896. Taxes $7.05 and costs. Levv made and returned to me by E. F. Taylor, dp- uty sheriff Also at the same time and place the unex- pired tem of a leasehold interest in and to the eastern 1-2 each of town commons lots numbers 136 and 187, between olf and Albany street, in Brunswick, Glynn county, Ga., as per the map of said city of Brunswick. Levied on as the property of F. E. Cunningham, defendant, un- der an execution issued out of the superior court of Glynn county, Ga., in favor of E. Brobston, as receiver of the Brunswick State Bank, against F. E. Cunningham and Mrs. M S Lloyd, administratrix of the estate of C. B. Lloyd, for $881.67 principal with interest and costs Levy made and returned to me by F. F. Taylor, deputy sheriff. Also at the same time and place that certain lot or parcel of land, lying and being in the city of Brunswick, state and county aforesaid, known and described in the map or planof said city as the eastern 4-9 of Old Town fot number 249 and improvements thereon, Levied on as the property of Reed E. LaMance, under and by virtue of a tax fi fa, issued by H. J Read, tax collector for his stat and county taxes for the year 1896. Amount of taxes $4137 and costs. Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place, one mouse- colored mule, 1 bay mare, 1 timber cart, 1 doubl wagon, 1 single wagon and harness. Levied on as the property of James P. Holmes, under and by virtue of an executi n issued from Glynn superior court in favor of Nelson H. Harrison, and against the said James P. Holmes for $731.00 principal, interest and costs, Levy made and returned to me by E. F. Taylor, deputy sheriff. Also at the same time and place, 13 acres of land lying and being in the county of Glynn, state of Georgia, and bounded as follows: South by the lands of John iggs, north by the lands of Samson White, west by the lands of


Article from The Brunswick Times, March 30, 1897

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Also at the same time and place the unex- pired term of a leasehold interest in and to the eastern 1-2 each of town commons lots numbers 136 and 137, between Wolf and Albany street, in Brunswick, Glynn county, Ga., as per the map of said city of Brunswick. Levied on as the property of F. E. Cunningham, defendant, un- der an execution issued out of the superior court of Glynn county, Ga., in favor of E. Brobston, as receiver of the Brunswick State Bank, against F. E. Cunningham and Mrs. M. S. Lloyd, administratrix of the estate of C. B. Lloyd, for $881.67 principal with interest and costs Levy made and returned to me by F. F. Taylor, deputy sheriff.