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A Bank Suspends. Asheville, N. C., July 31.-The First National bank of this city did not open this morning. A notice was posted stating that owing to the inability to collect and the stringency of the times, the bank would go into voluntary liquidation. The last statement was made on May 14, showed loans and discounts $308,267.94 and deposits $77,859.85.
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TO GO INTO LIQUIDATION. First National of Asheville, N. C., Closes Its Doors. ASHEVILLE, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted on the door stating that owing to the inability to collect and the stringency of the times, the bank will go into voluntary liquidation. The last statement, made on May 14, showed loans and discounts, $308,267.94; over drafts, $10,323.23; deposits, $76,859.85; capital stock. $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has teen attempted and there is no excitement.
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NATIONAL BANK CLOSED. Asheville, N. C., July 31.-The First National bank of this city did not open this morning. A notice is posted on the door stating that owing to its inability to collect and the stringency of the times the bank will go into voluntary liquidation. The last statement made on May 14th, showed loans and discounts of $308,267; over drafts $10,323.32; deposits $76,859.85; capital stock $100,000, surplus $20,000. Three other banks in the city opened as usual. No run was attempted and there is no excitement.
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VOLUNTARY LIQUIDATION, The First National Bank of Asheville Closes Its Doors. ASHEVILLE, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted stating that owing to the inability to collect and the stringency of the times the bank will go into voluntary liquidation. The last statement made on May 14th showed loans and discounts, $308,267.94; over drafts $10,323.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city reopened as usual. No run has been attempted and there is no excitement.
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ASHEVILLE BANK SUSPENDS. It Will Go Into Voluntary Líquidation-No Excitement. ASHEVILLE, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted, stating that owing to the inability to collect, and the stringency of the times, the bank will go into voluntary liquidation. The last statement, made on May 14th, showed loans and discounts $308,267.94; overdrafts, $10,323.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted, and there is no excitement.
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ANOTHER BANK CLOSED. The First National of Asheville Goes Into Liquidation Asheville, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted on the door stating that owing to the inability to collect and the stringency of the times, the bank will go into voluntary liquidation. The last statement made, on May 14, showed: loans and discounts, $308,267.94; overdrafts, $10,323.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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ASHEVILLE BANK FAILS. The First National Does Not Open for Business. Asheville, N. C., July 31.-The First National bank did not open this morning. A notice was posted on the door stating that owing to inability to collect and stringency of times the bank will go into voluntary liquidation. The last statement, made May 14, showed loans and discounts of $308,267.94; overdrafts, $10,325.25; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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ASHEVILLE BANK CLOSED. The First National Pleads Inability to Collect. Asheville, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted stating that owing to the inability to collect and the stringency of the times, the bank will go into voluntary liquidation. The last statement, made on May 14, showed: Loans and discounts, $308,267.94; overdrafts, $10,323.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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Failures. The First National bank of Asheville. N. C., has gone into voluntary liquida sion. The George 8. MacDonald company, manufacturers of brooms and brushes F Huntington, W. Va., has assigned. Assets and liabilities unknown. The Golden Rod Silk company of Paterson, N.J., has given notice of its failure and a receiver has been appointed. Liabilities, $108,000; assets, about $75,000. S. F. Westeont, ex-county terasurer, grain dealer and miller, of Wilmington, 0,, has assigned to F.M. Moore, Jr. Mrs. S. F. Westcoat has also assigned. Assets and liabilities unknowa.
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McKinley's Prosperity (?) Increasing. Frederick Fuchs, picture frame dealer, Baltimore, Md., has made a deed of trust. William H. Hartlove, of the same city, filed a petition for the benefit of the State insolvent laws. Kent & Boynton, dealers in clothing at Salem, Mass., have made an assignment. Jerome J. Davis, dealer in dry goods at Owosso, Mich., has given chattel mortgages aggregating $16,000. James Horne, dealer in dry goods at Red Oak, Iowa, has given a chattel mortgage. The St. Louis Car Wheel Co., of St. Louis, has given a trust deed for $50,000. Provisions for the relief of the suffering miners of Illinois are coming in very slow. Relief headquarters have been open but nothing beyond a few cash contributions from labor unions have been received. At Lawrence, Mass., the Everitt Mills shut down on July 30 for a period of five weeks. Operations were also suspended at the Atlantic Mills for one month. The agents of the mills claim that they are obliged to curtail the production of cotton goods, and believed that the month of August affords the best opportunity to do so. J. G. Evans & Co., millers, Haddonfield, New Jersey, have assigned. FALL RIVER, Mass., Aug. 1.-The voluntary curtailment in production which is being made by the cotton mills of Fall River includes the mills of nine corporations, representing about 875,000 spindles and 8,000 operatives. Most of the mills in the movement began curtailing yesterday, but several shut down a week ago. PATERSON, N. J., Aug. 1.-The Golden Rod Silk Company, of Paterson, has given notice of its failure, and a receiver has been appointed to wind up its affairs. The liabilities are estimated at $103,000, due to the raw silk trade in New York. The assets are about $75,000. The company ascribes its losses and failure to continued labor troubles. The strikers a few months ago retarded orders, causing a loss of trade and crippling of resources. BUFFALO, N. Y., Aug. 1.-The shipments of coal westward by Lake from this port show a falling off of 225,000 tons, as compared with last year to this date. The receipts of grain, including flour in its wheat equivalent, aggregated since the opening of navigation 93,948,136 bushels; an increase as compared with last year of 15,000,000 bushels. At this date last year the lake receipts of grain were largely in excess of any previous year in the history of the port. The First National Bank of Asheville, North Carolina, suspended on Saturday. The bank's last statement showed the deposits to be $76,859 and the loans and discounts $308,267. Bell Cloak Co.. Columbus, O., has given a trust deed. The Bank of Mammoth Springs, Ark., has suspend d. The general strike of the Pants Makers: Union, a branch of the Socialist Trade Alliance, went into effect Sunday in the 250 shops in the Greater New York district. There are nearly 3000 operators out, and in consequence of the strike 5000 finishers are idle. Thirty-two employes of the San Francisco Mint have been laid off on account of the stoppage of the coinage of silver.
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# A WIFE'S JEALOUSY. Tries to Kill Her Husband and Then Kills Herself. ASHEVILLE, N. C., August 17.-Special.-At Hendersonville this morning Mrs. Ben. F. Hood shot her husband twice, one bullet breaking his right arm, the other taking effect in his breast, inflicting a serious wound. Mrs. Hood then shot herself, causing instant death. Jealousy is supposed to have been the cause. Mrs. Hood was a Miss Cowles, of Ohio, and was about fifty years old. She has a brother now a judge in Ohio and Mrs. Senator Fairbanks, of Indiana, is a niece of Mrs. Hood. Mr. Hood is a native of North Carolina, but moved to Ohio just after the war and married there. The appointment of George S. Powell, as receiver of the First National Bank has been held up, it is supposed for political reasons, he being a Free Silver Democrat. The merchants of Asheville are preparing to contest the right of the County Commissioners to levy a purchase tax.
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Appointed Bank Receive & The cohtroller of the currency has appointed Virgil S. Lusk receiver of the First National Bank of Asheville, N. C.
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STATE NEWS. Os of the State Press-Drops Turpentine and Grains of Rice from the Ea - Clusters ef Grapes and Tobacco Stems from the North-Stalks of Corn and Grains of Wheat from the West-Peanuts and Cotton Seed from the South Guilford College is to receive a $7,000 benefaction, says the Asheviille Citi- In Rutherford county 1930 votes were cast against the school tax and only 116 for it. Brevard News: A canning factory is an enterprise which will materialize for Brevard in the near future. The North Carolina Rolling Exposition on wheels will be named Charlotte. That city paid $500 for the privilege. Mayor Linn of Salisbury has ordered the police to arrest all women appearing on the streets in Mother Hubbarde. Two baseball mines, composed of the young women of the town, played a match game of ball at Concord Thursday afternoon. The North Carolina Baptist calls upon friends of Wake Forest College to provide a fire proof building for its $50,000 library. J. A. Hammond and Bird Shepherd, two convicts on the State farm, have let it leak out that they are the Bostian Bridge wreckers. It is rumored that a Boston capitalist will take $50,000 of stock in the proposed electric railway line from Morganton to Blowing Rock. The first bale of new crop cotton was sold in Wilmington Friday 13. It was grown in Orangeburg county, S C., and weighed 596 pounds. Mr. T. L. Alexander, for a long time a prominent citizen of Charlotte, died st his home in that city Saturday afternoon, aged 65 years. Marion Messenger: When the two factories are in full operation all three employ near 100 hands, or more. This will mean a good pay roll. The jury which investigated the Buncombe lynching decided that the negro was hung by "about 15 men whose names are unknown." The falling off in the acreage of tobacco in this state is so great as to attract much attention. It is reported to be 47 per cent. under an average. At one of the election boxes in Rowan Last Tuesday, according to the Salisbury Sun, the men got to discussing religion, and the election broke up in a row. Yadkinville Ripple: Sandy James Hutchens, who was carried to the State Hospital at Morganton some time ago, escaped and is at home again. The Winston Journal learns that the Masonic picnic at Mocksville Thursday realized about $500 net for the Oxford orphans. Three negroes are engaged in the manufacture of tobacco in Davie county. The style of the firm is Dulin Brothers. They employ about 25 hande and do business in a log house. The appointment of George S. Powell as Receiver for the First National Bank of Asheville has been held back. A. Gudger, who has turned Republican, wants the place. Mark Cotton, who was hit by a passing freight train on Eeast Market street crossing some weeks ago, settled the matter, being paid, so it is said $100.-Greensboro Record. Elkin Times: Robert Gravely, who killed George Law in a drunken brawl near Mt. Airy a year ago, was captured in West Virginia a few days ago and is now confined in Dobson jail. M. Beckett, local agent of the Singer Sewing Machine Company at Asheville, has disappeared. The Citizen says there is a shortage of several hundred dollars in his accounts. Concord Standard: Jno. L Milan, the absconding ticket agent of the Seaboard Air Line office at Charlotte, and who has been in hiding for a week or more, has been arrested at Morristown, Tenn. The Greenville Weekly says ex Gov. Jarvis, who was an advocate of the school tax and claimed to have advocated such a measure for 25 years, failed to turn up at the polls and vote for it. Shelby Aurora: Mr. Marion York has found a rich gold mine on the land of J. S. Cox, at the foot of Pilot moun
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MR. G. S. POWELL, DEMOCRAT HAD BEEN APPOINTED. PRITCHARD GOT HOT IN THE COLLA Congressman D. Graffenried's PersonalityVacancy Occasioned by Senator George's Death to be Filled Until 1900--Money May Probably be Appointed. Washington, D. C., Aug. 23.-(Special -When the First National Bank o Asheville, N. C., failed, Deputy Comptro ler Coffin visited that city to inspect th affairs of the bank, and also to find suitable person to be appointed receive After searching over the Mountain Cit the found a gentleman, Mr. J. G. S Powell, who possessed the necessar qualifications. Mr. Coffin returned t Washington and reported the result o his investigations to Secretary Gag who decided to appoint Mr. Powell r ceiver. When it became known that Pow ell had been appointed the Ashevill Republicans discovered that the appointe was a silver Democrat and had give loyal support to Mr. Bryan in the pres dential campaign. When Senator Pritel ard heard of this he decided to take hand, and according to the story be con municated with Secretary Gage and re quested that Mr. Powell's appointmen the held up; that a mistake had bee made, and that the appointee was "th worst silver Democrat in Asheville." Th Decretary, of course, complied with Ser m/tor Pritehard's request and asked th Benator to name some one else for th position. The name of ex-State Senate Moody was presented. Mr. Moody's qua Sentions were looked into by the depar ment, and they were found wanting Moody being unable to fill the bill, Ser avor Pritchard, BO goes the story. we notified and requested to name anothe man. This time Mr. Virgil Lusk, also a ex-member of the Legislature, was re ommended. As in the case of Moody, h qualifications are now under investig tion by the department. In the meantime Senator Pritchar sent his trusted friend, G. Wiley Shool 10 Washington to look after Lusk's in terests. Shook has had two interview with Deputy Comptroller Coffin without any satisfactory results. Should It tur out that Lusk lacks the necessary abilit he will be forced to step aside and M Powell's appointment will hold good. Shook is quoted as saying that it is good joke on gold standard Republicar and a Republican administration to hay a free silver Democrat to settle up tl affairs of a broken national bank. It possible that Mr. Powell's appointment will be announced this week. One of the few Southern statesma who have remained in Washington du ing the heated term is R. C. De Graffer ried, of Longview, Taxes. His family with him. Mr. De Graffenried has a tracted unusual and favorable attentio in this part of the hemisphere, and for new Representative is a strong favorit in social as well as political circle Although Congress is not in session th representative of the Third Texas di trict thinks he can not at this time d better for his people than to remain a the ing fairs him, seat with and of the of when a government nation. diligence with This the characteristic and he return study has of been the coole wit de a weather he shall rejoin his constituent it will be with an equipment in state craft that must result beneficially to th section he shall represent in the a)
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General Notes. WASHINGTON, Aug. 23.-To-day's statement of the condition of the treasury shows: Available cash balance, $221,162,543; gold reserve, $143,168,756. The controller of the currency has appointed Virgil S. Lusk receiver of the First National Bank of Asheville, N. C. Dr. Jacob Coble was to-day appointed a member of the pension examining board for Gosport, Ind. Joseph B. McCrellis, of Indiana, has been appointed a clerk in the War Department at $1,000 a year.
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Virgil S. Lusk, Receiver. WASHINGTON, D. C., August 23.The Comptroller of the Currency has apnointed Virgil S. Lusk receiver of the First National Bank of Asheville, N. C.
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IT WAS TALK FOR EFFECT. "And now comes the news from Washington that G. S. Powell could not be receiver of the First National Bank because he was a free silver man. But one of the original free silver men of North Carolina was V. S. Lusk. Time was when he talked of nothing else, even in his sleep: when it was free silver or nothing with him. Has the Treasury Department his written recantation? It would be interesting reading."-Asheville Citizen. When Mr. Lusk voted for McKinley he followed the example of that illustrious politician who always "talks mit" the silver men, "but drinks mit" the gold men. Nobody ever took Lusk's silver talk seriously. It was just Eke Pritchard's nd Pearson's-just to fool the Populists in order to effect a fusion that resulted in crivifying the Republican party and restoring it to power. That accomplished, they dropped their silver talk and became gold-bugs of the regulation Republican stripe. The history of this matter illustrates Republican methods. They stop at nothing to get pie, When the Asheville lank failed, Mr.Coffin, Deputy ComptrolDr. visitid Asheville, he ascertained that Mr. Powell was the fittest man for the position and was most satisfactory to the depositors of the bank. When his report reached Washington, Mr. Powell was promptly selected, and as promptly gave his bond and made ready to enter upon the discharge of his duties. Then Senator Pritchard made the wires hot with telegrams demanding the place, first for Gudger, then for Moody and then for Virgilius Semper Lusk when the others were turned down. He couldn't be heard till he said that Mr. Powell had been a delegate in the Chicago convention, and voted for Bryan. That opened the door, evoked the appointment, and turned the bank over to politicians. 1111 Mr. Powell is one of the wisest business men in Western North Carolina. But in Pritchard's eyes, he is unfit be cause he voted for Bryan. He doubtless egards the turn down by Pritchard and his crowd as "a decoration of honor."
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BANK OFFICERS ARRESTED. They Are Charged With Embezzlementand Conspiracy-A Child Run Over, ASHEVILLE, N. C., Oct. 7.-Special.Major William E. Breese, president; W. H. Penland, cashier, and J. E. Dickerson, a director of the First National Bank of this city, which closed its doors in July, were arrested here to-day by United States deputy marshals from Greensboro. The grand jury of the Federal Court, which is now in session at Greensboro, returned true bills yesterday against these gentlemen. Special Bank Examiner Maxey left here Tuesday and furnished evidence to the grand jury in Greensboro yesterday. The charge is embezzlement and conspiracy. Bonds of thirty thousand dollars each were required. Major Breese gave his bond early in the day but the other two were not so successful, and were committed to jail. Major Breese then relinquished his bond and went to jail with his friends. Later in the day all gave bonds and were released. A two-year-old son of G. T. Wilson. of Yancy county. who was visiting in Asheville. was yesterday run over by a street car and seriously injured. One leg had to be amputated, and n is feared he cannot live.
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ASHEVILLE'S BROKEN BANK. The Trial of the Indicted Officers Postponee and Their Bail Reduced. ASHEVILLE, N. C., Nov. 5.-Special.The case against Breese, Penland and Dickinson. the officers of the suspended First National Bank came up in the Federal Court to-day. The case was continued till the May term and their bonds reduced to $15,000.
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THE BROKEN ASHEVILLE BANK. Consultation With the Comptroller Regarding Its Affairs. WASHINGTON, D. C., November 26.(Special.)-Senator Pritchard, Judge Moore, and J. S. Adams, of Asheville, N. C., representing the defunct First National Bank of Asheville, had a consultation to-day with Comptroller-of-theCurrency Eckels in regard to the affairs of the bank. They claim that they are prepared to show there was no criminal intent on the part of the officers of the bank, and that the failure of the bank is due to the depreciation in the prices of property, consequent upon the recent hard times. They also claim that they are prepared to show that the officials of the bank have not made any money as a result of the different investments which they have made, but have wrecked their own fortunes in the attempt to save the bank. And while the officials are left without any funds, they hope, by the aid of their friends and the sacrifice of their homesteads, to enable the receiver to declare a. small dividend.
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# BREESE ON THE STAND Dickerson Has Asked For a Change of Venue. t is Believed This Will be Granted. Freight in Smash Up at Alexander. No One Hurt, (Special to the News and Observer.) Asheville, N. C., March 10.-Today's proceedings in the Breese-Dickerson trial opened with testimony by Director and Vice President R. R. Rawls. With this testimony the Government closed its case. Judge C. A. Moore then proceeded with the defense. In his address to the jury he said that he intended to show that the defendant did not do the things charged, or if he did, not with wrongful intent, as stated in the ill of indictment, to injure the First National Bank. He said the defendant was a self-made man, of good character, an ex-Confederate soldier. He invested his earnings, ten thousand dollars, in the First National Bank and friends in Charleston took stoc kto the extent of ninety thousand dollars. Forty thousand dollars were lent to Penland and family to invest in real estate. The defendant was allowed to improve the property in the same way. This was known to every officer in the bank. At the close of this address Maj. Breese was sworn in. He said that about ten thousand dollars worth of stoc was held among Asheville people. About five thousand dollars was held in vanced money to Mr. Penland to uild Massachusetts. He said the ank ad-thirteen houses and he orrowed money to improve property. The bank got along well till the Kennilworth Land Company was organized. A panic, came in shortly after that and money affairs were strained. The bank was only kept going by money, from five to ten thousand dollars, deposited weekly by Mr. Vanderbilt to pay his laborers. Maj. Breese was asked to explain the Leonard transaction. He said the Comptroller ensented to the bank loaning one hundred thousand dollars to Mr. Graham, a prominent merchant. He (Breese) could not see why he should not do as the Comptroller had permitted, when the bank needed money. So he had issued notes. J. E. Dickerson has applied for change of venue in the bank case. Prejudice existing here against Dickerson is given asi the cause. It is believed that Judge Jackson will allow the change. An electric railroad is being built to Locust Gap, two miles beyond the present terminus of the Asheville and Craggy Mountain railway. V. H. S. Courtney, a clothing merchant here, assigned today. His liabilities are put at nine thousand and twenty-five dollars. His assets include his personal property. A rear end collision occurred at Alexander this morning. A heavy freight run into the second section. Both trains were badly smashed. No one was hurt.
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THEY KNEW IT ALL So Says Breese of Officers of National Banking System. (By the Associated Press.) Charlotte, N. C., July 21.-Wm. E. Breese remained on the witness stand ir the United States District court today, continuing the testimony in his own behalf in the case against him for wrecking the First National Bank of Asheville, of which he was president. When court adjourned his testimony was not finished. The line of his testimony, in addition to bringing out certain facts is to snow that the officers of the government having in charge the national banking system were at all times cogpizant of everything he did and that nothing whatever was concealed from the Comptroller of the Currency. The testimony embraced dozens of letters that had been passed between him and officers of the government, dating from August 30, 1893, four years before the failure of the bank. The letters related to the efforts he was making to save the bank from ruin and to arrange ararngements for liquidating the indebtedness of the institution for the purpose of converting it into a State bank. District Attorney Holton objected to the admission of many letters and several of them were ruled out. After the District Attorney had made repeated objections, this when he had asked that the witness read a certian letter, Maj. Breese created a little amusement by turning to Judge Kelier and saying: "The district attorney wants me to read all the letters that are favorable to him, but he objects to those that are in my favor." The court announced that it was the preogative of the district attorney to object when he saw fit and that the presiding judge would rule on all matters as the merits of the case in question might deserve. The witnes swas starting to tell of a run on the National Bank of Asheville when District Attorney Holton objected, unless the defense proposed to go into the affairs of the National Bank of Asheville. "If they propose to do that, I am willing. Some of the officers of that bank are now in the penitentiary." Counsel for the defense objected sericusly to this remark, Judge Moore saying it could not be excused on any ground.
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BREESE ON STAND. Submits Correspondence to Show Official Knowledge of Course. (By Associated Press.) CHARLOTTE, N. C., July 21.-William E. Breese remained on the witness stand in the United States District Court today, continuing the testimony in his own behalf in the case against him for wrecking the First National Bank of Asheville, of which he was president. When court adjourned this testimony was not finished. The line of his testimony, in addition to bringing out certain facts. is to show that the officers of the government having In charge the national banking system were at all times cognizant of everything he did, and that nothing whatever was concealed from the Comptroller of the Currency. The testimony embraced dozens of letters that had passed between him and officers of the government, dating from August 30, 1893, practically four years before the failure of the bank. The letters related to the efforts he was making to save the bank, from ruin and to arrangements for liquidating the indebtedness of the Institution for the purpose of converting It into a. State bank. District Attorney Holton objected to the admission of many of the letters, and several of them were ruled out. After the district attorney had made repeated objections, and when he had asked that the witness read a certain letter. Major Breese created a little amusement by turning to Judge Keller and saying: "The district attorney wants me to read all the letters that are favorable to him. but he objects to everything that is in my favor.' The court announced that it was the prerogative of the district attorney to object when he saw fit. and that the presiding judge would rule on all matters as the merits of the case in question might deserve. The witness was starting to tell of a run on the National Bank of Asheville, when District Attorney Holton objected. unless the defense proposed to go into the affairs of the National Bank of Asheville. "If they propose to do that," he sald, "I am willing. Some of the officers of that bank are now in the penitentiary." Counsel for the defense objected seriously to this remark, Judge Moore saying it could not be excused on any ground.
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MORE WITNESSES EXAMINED. Progress in the Breese Trial-The Do fendant Again Gives Evidence in His Own Behalf. Charlotte. N. C., July 23.-Today marked the close of the second week of the Breese embezzlement trial. one of the most interesting and important actions ever brought in the federal courts in this or any other state. A great mass of testimony has been Introduced, and the indications are that at least one more week will be required in bringing the case to a close. William E. Breese, the defendant, has been on the witness stand the greater part of the time since Wednesday at noon. and it is probabie that his direct testimony will not be finished before the adjournment of court Monday afternoon. The district attorney will have him under cross examination for a day and perhaps longer. The defendant was taken off the stand this morning to permit several witnesses who were anxious to return home to testify. Four witnesses tes. tifled to the character of Breese, and the government introduced a witness to testify concerning a note which the First National Bank at Asheville had discounted in Charleston shortly before the failure. Breese resumed his direct termmony. He took up the discount ledger. a book of which S. T. Dorsett testified at length and explained to the jury the method of keeping the book and why it was kept. Considerable time was consumed in the examination in reference to the letters Breese had written other banks concerning notes signed by insolvent persons. The witness said he considered the notes good by reason of the fact that they were endorsed by J. E. Dickerson & Co., the First National Bank of Asheville and ther firms and corporations. He had no intention to deceive when he wrote banks which had re-discounted the notes. Touching the failure of the First National Bank to remit checks for drafts that had been collected for other banks, Major Breese said they were signed and held for the simple reason that it was impossible to send them off. It had been necessary to withdraw the money from the banks upon which the checks were drawn, and as money was being withdrawn from the First National Bank faster than it was being deposited. it was impossible to re-place the funds. The witness was striving to carry the bank along. and still hoped to be able to avert the threatened panic. As it turned out. the depositors at home got the benefit of this action. and the creditor banks in the north lost. The witness averred that he received no personal benefit from any of the money that was withdrawn from the bank. the checks that were charged against his account having been drawn to pay various bills. His overdrafts were for the purpose of making good the interest and renewals of notes.