State Savings Bank (Dallas, TX)

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SPOUTED SAVINGS

That is the Condition of what you had in the State Savings Bank or this City, or a part of It Has Gone at last. The Institution goes by the board with A Erash, with $51,000 Liabilities and $41,000 Assets, which are in the Hands of Assignees. Local Depositors Suffer to the tuno of Nimeteen Thousand Dollars-Full Line of Assetts and Liabilities-Ineidents on the Streets-All the other Banks in " Solid Condition. The first bank that ever suspended in Dallas went by the board yesterday. It was the State Savings Bank. Ever since late Friday evening a few have known that the bank was in a tottering condition, but the bubble did not burst until yesterday morning. The bank was incorporated in 1876, and commenced'businesson the 1st day of February, of that year on an authorized capital of one hundred thousand dollars, ten perjcentum_of which was paid in. Mr. E. H. Gruber, the president, being the largest stock-holder. Later, ten per centum was again paid in, making twenty thousand dollars capital upon which it was doing busis ness. A good share of business was at once obtained, at one time there being eighty-five thousand dols lare in the vaults belonging to local depositors. The general diss trunt of saving banks about the years 1876 and 1377 affected the business of this saving's bank also. From that time on the bank has been in a weak and shaky condition. At one time last winter another banking firm had to tide it over, but its business seems not to have recuperated since then. Mr. Gruber went to New Yerk week before last to negotiate for a loan of $15 000 with his correspondenta, Donnell, Lawson & Co., bankers of that city. For the loan of this sum he proposed to turn over collaterals, worth,as he claimed, twenty-five thousand dollars. Mr. Boone, of the New York banking firm, came out here on Tuesday last, and after making a thorough examination of the securities offered by Mr. Gruber, declined to make the loan. This unfavorable answer was given Mr. Gruber some time Saturday, after hich he made an effort to get assistance from Messrs. Adams & Leonard and Captain A. F. Hardie, president of the City bank. Upon submitting his securities to them his request for assistance was denied. He did not know up to an early hour yesterday morning that he would be denied the amount asked for, and claims that he could have gone on, if the assistance had been fortheoming. The news had leaked out as early as Saturday night that the bank was in trouble and it was the talk on the streets all day Sunday. Early yesterday morning knots of men might have been seen standing about, here and there, talking. the matter over in low sullen tones, many wondering If at the usual hour the bank would open. :Some prophesied that it would and others that it would not. A short while before nine o'clock, the hour of opening, a crowd collected on the block on which the bank stands, eagerly awaiting to see what would be done by the bank officials. The hour arrived at last and the doors remaining closed the crowd became restless and a good deal of speculation and hard talk toward the institution was indulged in. The following notice was written out to be posted on the door, but fearing that it would create unnecessary excitement, it was decided not to post it : NOTICE! Owing to recent heavy demands upon the State Savings Bank and its inability to realize upon its assets to meet the further demands likely to be made, the bank has this day made a general assignment for the equal benefit of all its creditors. A meeting of creditors will be called at an early day. E, A. GRUBER, President. It was not long before it became generally known that the assignment had been made. Some laughed and jested about the matter, while the blow that fell upon others was perciptible, the loss no doubt being keenly felt in these dull times Without consultation with creditors, the assignment was made early after it became known that assistance could not be secured, and Mr. Charles Fred Tucker, an attorney at law, and Mr. W. H: Gaston, president of the Exchange bank, who was absent from the city, were made by Mr. Gruber, the assignees. Enterance through a back door was effected early in the morning by a HERALD commissioner, who found the president and cashier and several depositors in conversation. Mr. Gruber seemed averse to having the matter inquired into, and rarely ever answered a question without profering his advice as to what ought to be said in the newspapers. It was like pulling hen teeth, 80 to speak, to get anything that was not generally

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Savings Bank Failare

DALLAS. Texas, May 28.-The State Savings Bauk of this city bas m de an assignment. Charles Fred Tucker, attorney at law, and Wm. H. Gaston are the assignees. When the bank closed Saturday even ing it had only about $40 in cash on band.- The amount due depositors is about $19,000, ranging from twenty-five cents to $1,200 The total of the bank's assets is $41,000; total liabilities, $51,600 Deposits offered Saturday, amounting to about $1,000, were not entered on the credit account and were returned to day. There is a light run on the other four local banks, but no trouble is anticipated.

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Financial Circles

Everything was quiet among all the banks in the city yesterday, and no perceptible effect on the feeling of confiderice which prevailed before the suspension of the State Savings bank existed. A few small depositors in the First National drew their money before noon, but every demand having been satisfied by this bank, as well as all the others, the fact of the suspension of the State Savings was in a measure forgotten before the close of business yesterday evening. Every bank in the city has ample means to satisfy creditors on demand, and it is now believed that business in financial circles will continue uninterrupted. No new points were elicited concerns ing the failure of the State Savings, the report in THE HERALD day before yesterday having been exhaustive of the subject in every point of detail. It was stated yesterday that a meeting of creditors would be called at an early date by the assignees, one of whom is now at work adjusting and arranging its affairs.

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STATE NEWS

-The city of Navasota owes $301 87 more than its assets. -New Irish potatoes are retailing at SI a bushel in Columbus. - Wheat in Colorado county will make thirty bushels to the acre. - Professional burglars are prosecuting their busines in Waco. - Two steam threshers are getting ready for work in Comanche county. - Crop prospects in Milam county are fine. There has been plenty of rain. THE Georgetown Sun enters upon its second year with flattering prospects. THE Rockdale Messenger has put on its summer suit. It now wears a patent inside. - The Telegram calls the loafers who frequent the Recorder's "court hoodlums. - There are now 400 members of the Murphy or blueribbon brigade in Dallas. - There are forty prisoners in the Marshall jail. Among the number is Rothschild. - On Wednesday Houston was visited by 800 negros excursionists from Galveston. - Mr. W. L. Simpson and Miss Tennie Rogers of Chappell Hill, both died on Monday. -Wash Jones, the Radical candidate for congress is billed for Round Rock on the 31st inst. - The Williamson county Greenbackers claim an enrollment of seven hundred members. Miss Dora Schroeder died at La Grange from the effects of a coal oil explosion kindling a fire. THE Columbus Citizen says the West wants the State police force kept in the field and must have it. -Bryan's drayman wants to abandon the respectable calling in which he is engaged and run for the legislature. - Bellville's brass band is progressing finely. It is expected that they will soon furnish delightful music. — A negro child playing in a pig pen, on a farm two miles from Dallas, was badly "chawed" up by an enraged sow. State troops have been sent to San Saba to quiet any disturbance that may grow out of killing Brown by Kendall, A year old child of Capt. Allyn was killed at Corsicana by a careless negro nurse who was "fooling along" with a derringer pistol. - The fire department of Bryan contemplates a grand fourth of July celebration in the way of a picnic and public speaking. -A special to the San Antonio Express from Eagle Pass says king Fisher's bond is amply sufficient, unquestionable and according to law. -The State Savings bank of Dallas has busted. Assets unknown. Six dollars in cash was turned over to the assignee. The bank owes depositors $20000. - Cards and whiskey caused N. Wade a respectable citizen of LaGrange to take arsenic. An emetic was administrated and caused him to throw up the arsenic. -The Navasota Tabletlearns that nearly the whole amount required has been promiseu by citizens to secure the tap of the Central and Montgomery road at that place. - The Tremont Hotel at Galveston was sold at trustee's sale, on Tuesday, for $45,925. Marx & Kempner were the purchasers. The original cost was nearly $400,000. - As Dallas can't have bull and lion fights it does the next best thing: It has a bear and dog fight; one bear being pitted against five bull and three cur dogs. The "bar" whipped. The San Saba News says "our town has been the scene of confusion, undue-excitement and even alarm for the last few days, occasioned by the shooting of W.A. Brown on Tuesday. Mr. Hector Bell, foreman of bridges on the Sunset route, was run over and killed near Alleyton, by his hand car. Mr. Bell was a much respected citizen of Columbus. A Greenback convention was held at Rockdale and a platform adopted declaring a complete separation from both political parties. An organiza-

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State Savings Bank

There was a meeting of the creditors of the State Savings Bank, held in the law office of Helm & Ramsey, yesterday morning at ten o'clock, to consid er what action it would be best for them to take in the matter. After a short session they adjourned without having taken any definite action, to meet in the parlor of the Le Grande hotel at four o'clock in the evening. At the appointed hour a party of creditors numbering some twenty five assembled. A feeling of distrust seemed to pervade the whole meeting regarding the suspension, a few giv. ing expression to insinuating remarks as to the genuineness of the failure. On motion of Major Brooks, Colonel Jhon B. Stone was appointed chairman of the meeting. On motion of Colonel J. B. (Simpson Major Brooks was appointed secretary. Captain S. J. Adams, of the firm of Adams & Leonard, bankers of this city, was called on and said that they should await the action of the committee He discountenanced either basty expression or action in the matter. He moved that a committee of three be appointed, which was seconded and carried. The chair appointed Captain S. J. Adams, Colonel J. B. Simpson and Mr. Goldthwaite as a committee of three to examine into the matter. Major Brooks moved that Captain Gaston and C. F. Tucker, the masignees, be requested to take charge of the books. Carried. Captain Adams moved that the meeting adjourn, subject to the call of the chairman, which was earried, and the meeting adjourned. Captain Gaston and C. F. Tucker, the assignees, expressed to a HERALD reperter that they had taken the books in possession and were perfectly willing to be examined by the committee and export. Mr. Tucker said that Mr. Paul Furst, the book keeper, had been sick for several days, but would soon be out and that he would assist the committee in going over the books.

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Dellas City Lumber Yard

Financial Circles. Everything was quiet among all the banks in the city yesterday, and no perceptible effect on the feeling of confidence which prevailed before the suspension of the State Savings bank existed. A few small depositors in the First National drew their money before noon, but every demand having been satisfied by this bank, as well as all the others, the fact of the suspension of the State Savings was in a measure forgotten before the close of business yesterday evening. Every bank in the city has ample means to satisfy creditors on demand, and it is now believed that business in financial circles will continue uninterrupted. No new points were elicited concerns ing the failure of the State Savings, the report in THE HERALD day before yesterday having been exhaustive of the subject in every point of detail. It was stated yesterday that a meeting of creditors would be called at an early date by the assignees, one of whom is now at work adjusting and arranging its affairs.

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The Bank of Dallas

In view of the recent bank and other failures in this city, those who have suffered thereby and the public generally, are notified that the Dallas Loan Office, 6071 Main street, opposite the late State Savings bank, is the place where you can get accommodation. This Institution cannot fail, as Richard Cohn, its proprietor's, assets are large and owes nothing. He has a large and secure burglar proof vault in which to deposit securities and other valuables and what is better, he is the proprietor of his own business, runs under his own name and is neither manager or agent. Money loaned at reasonable rates. The larger the sum the lower the interest.-junel-1wk

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Small Depositors Over the Fatiures Abating. The committee appointed to look into the affairs of the defunct State Savings bank, have done nothing as yet. Mr. Paul Furst, bookkeeper of the bank at the time of the suspension, began working on the books yesterday at the solicitation of the committee. They are to report the result of their investigation at four o'elock this avening, and will in all probability begin work this morning. The public announcement yesterday of the suspension of the First National Bank failed to cause the excitement anticipated. It is generally thought that the bank will come near, if not quite paying dollar for dollar. There was an error in yesterday's HERALD concerning the amount, which is corrected by the following figures: There is now due local depositors twenty-one thousand dollars, fourteen thousand of which is time certificates, which leaves a remainder of seven thousand subject to check. From Monday up to Friday evening the bank had paid out nine thousand dollars in paper that was not due. Yesterday the bank received the following telegram from the comptroller at Washington city, to whom the cashier telegraphed, asking for a receiver: WASHINGTON, May 31, 1878. R. P. Aunspaugh, Cashier First National Bank, Dalias, Texas: Examiner ordered to Dallas to take charge. Do no business beyond collecting debts and delivering special deposits. J.S. LANGWORTHY, Acting Comptroller. Early yesterday morning excitement 8 prevailed to a limited extent, and as soon as the banks were opened a small number of light depositors with drew their funds, or demandK ed their time certificates from f the City Bank, which were promptly turned over, although they a were not bound to deliver them. Mr. Hardie, the president, stated that the bank was in a healthy condition and n could pay every dollar it owed, and if necessary, he could command fifty thousand dollars more on short notice. The banking firm of Adams & Leon g ard took in several thousand dollars more than it paid out yesterday. Captain Gaston, president of the Ex. change bank, stated that there had been no perceptible change in the e bank's business and that thesuspension of the other two banks had no appar. Is rent effect on it. t The excitement has abated, and lit. tle or no uneasiness is entertained among the business men and principle depositors.

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attracted some attention to our nancial condition from abroad, have atus, ther in as reality our the class little commercial of or depositors no or effect financial in upon both suspended banks were not generally erchants or business men, but taken a whole, were citizens who rarely it post themselves as to the actual ondition of banking institutions, even doing business with them is a well known fact that there a lack of confidence in both the late Savings and First National bank time before the climax was capped now that these two banks have by the board, the question natu arises, are the other banks safe aking the expression of confidence mong business men, and other reason hich are plainly understood in thi ommunity, as a guide, we can safely they are. Whenever there is loca onfidence in a monetary institution hat institution is generally safe and in; ealthy condition. Of the State Saving ank, it is questionable, if it were to ecuperate and start again with an as ured backing to do a legitimate basi if it could ever regain the confi once reposed in it. The Firs National stands some better, and if th ope expressed by Mr. Kerr, its presi ent, that it will pay out dollar for dol proves true, it might in time re eem its good name; yet that is ex remely doubtful for an unfortunat ank is like an unfortunate female nce let her fall and her prog is downward. It is shee onsense to throw all the blame o suspended bank, in every case pon the shoulders of its president an fficers. It is often the case that the affer more than anyone else if not is he loss of money, in the loss of caste heir former 'friends, without takin ime to inquire into the whys an herefores, like in the case of the com arison above alluded to, are ready t. them down, and to impute dishor to their every act. The world old and uncharitable at best, but whe comes to money, that all powerfu ommodity, the human family is a avenous in its quarrels over it as th arnivorous beasts over their prey. I Iways has been and always will be so "money is the root of all evil. 'aking a common sense, practical vie the situation here in Dallas, it ca be discovered that there has bee great deal of smokeand very little fire is positively known that not uarter of a dozen business houses o usiness men have been directly affect by these failures, for our busines as a class are men of sagacity an ualification for doing business, an hat explains the whole thing. ( ourse there are sufferers here wh ould ill afford to lose their money, an is deplored; but sympathy is cheap article and there is alway lenty of it to be had in cases like these gnorance of the law excuse one, and the rule is Jus applicable to other transaction every day life. There is no doub our mind that the banking busines this city has been greatly overdon hen our population, both as to num and character, is taken into con ideration. Five banks were just abou too many. There is a good payin usiness here for three banks at th utside, and for the present those who their money in the two suspende

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The Bank of Dallas

In view of the recent bank and other failures in this city, those who have suffered thereby and the public generally, are notified that the Dallas Loan Office, 6071 Main street, opposite the late State Savings bank, is the place where you can get accommodation. This institution cannot fail, as Richard Cohn, its proprietor's, assets are large and owes nothing. He has a large and secure burglar proof vault in which to deposit securities and other valuables, and what is better, he is the proprietor of his own business, runs under his own name and is neither manager or agent. Money loaned at reasonable rates. The larger the sum the lower the interest.-junel-1wk

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The Bank of Dallas.

In view of the recent bank and other failures in this city, those who have suffered thereby and the public generally, are notified that the Dallas Loan Office, 607½ Main street, opposite the late State Savings bank, is the place where you can get accommodation.

This institution cannot fail, as Richard Cohn, its proprietor's, assets are large and owes nothing. He has a large and secure burglar proof vault in which to deposit securities and other valuables, and what is better, he is the proprietor of his own business, runs under his own name and is neither manager or agent. Money loaned at reasonable rates. The larger the sum the lower the interest. - junel-1wk

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The Bank of Dallas

In view of the recent bank and other failures in this city, those who have suffered thereby and the public generally, are notified that the Dallas Loan Office, 6071 Main street, opposite the late State Savings bank, is the place where you can get accommodation. This institution cannot fail, as Richard Cohn, its proprietor's, assets are large and owes nothing. He has a large and secure burglar proof vault in which to deposit securities and other valuables, and what is better, he is the proprietor of his own business, runs under his own name and is neither manager or agent. Money loaned at reasonable rates. The larger the sum the lower the interest.-junel-1wk

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NO. 41, 5 on the 31st, adopted unanimously the following resolution; The Ancient Order of Hibernians of the 3 State of Pennsylvania in convention assembled. unanimously declare: That we are 3 true and firm members of the Holy Mother ) Church, and we do resolve that we conf demn any member of this order who takes part in any organization the objects of which can antagonize the peace and good order of this glorious commonwealth. As : loyal citizens of the United States. we propose to put down our feet upon any semblance of communism. We absolutely repudiate all connection with organizations which have been instruments in the hands of designing men to cast infamy upon the Ancient Order of Hibernians. and we further avow our firm determination to indignantly spurn every and all attempts which shall be made to cast disgrace upon our order. Taught by the Modoes. The Bannock Indians, numbering about two hundred warriors under Buffalo Horn, encamped in the lava beds in California, last week. and ordered the settlers to leave at the penalty of death. The Indians are well supplied with ammunition sold to them at Boise City about two weeks ago on the order of Gov. Brayman, on the ground that they were good Indians. About twenty mounted troops, under the command of Major Collins and Capt. Bernard, will leave immediately for the scene of trouble. A Texas Bank Suspended. The State Savings Bank of Dallas, Tex., closed its doors on Saturday with a cash capital of $40. E. H. Gunter, president and principal stock-holder, was formerly in the banking business in Leavenworth, Kas., where he failed for $268,000. 1 The depositors are losers to the extent of about $10.00. Assets, $41,000; liabilities, $52,000. R. At Newport, R.I., Gov. Van Zandt and his associates on the ticket were elected. In the Senate a preamble and resolut tions were introduced protesting against e disquieting the country by re-opening questions that have been settled by law. Benefactor Incog. 1 The Presbyterian home for the aged, ( in New York, received $30,000 from some person unknown. to be used for the benefit 1 of that institution. I Cotton Mills Stopped. 1 At F'all River, Mass., 12,000 out of 30,000 looms are idle and others will stop. t Some 4,000 employes are thus thrown out 1 of employment. The Last of the Lot. The Syndicate has taken from the I 1 treasury the remaining $15,000,000 of 41/2 t per cent bonds, which completed the fifty millions bargained for on the 11th of April. a

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FORTY DOLLARS IN CASH

All That was on Hand When a Texas Bank Closed is Doors. A special dispatch to the Globe-Democrat, from Dallas. Texas, says: The first bank failure that ever occurred in Dallas was recorded on the morning of the 27th. The State Savings Bank, of which E. H. Gruber was President and prine ipal stockholder, has the following notice posted on its door "NOTICE." Owing to the recent heavy demands upon the State Savings Bank and Its inability to realize upon its assets to meet the further demands likely to be made, the bank has this day made a general assignment for the equal benefit of all creditors. A meeting of creditors will be called at an early day. E. H. GRUBER, President. (Signed) NO UNUSUAL EXCITEMENT was visible, as the bank has been considered weak for some time past. A light run was made on the other four banks, and at noon all was quiet, and nothing serious is anticipated. The total assets of the State Savings are $42,000; total liabilities, $31,635, $19,000 of which is due depositors, ranging in amount from 25 cents to $1,20. The balance is DUE IN NEW YORK, principally to Donnell, Lawson & Co., for exchange. When the bank closed Saturday night, there was only $40 cash on hand. E. H. Gruber was of the banking firm of Clark, Gruber & Co., formerly of this city.

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topher Landheger, at Cincinnati, one of the largest in the West, has been seized by the Government officers on account of alleged non-eancellation of stamps. A destructive fire occurred at Parkersburg, West Pa., on the 24th, 13 houses being burned. Stockholders of the Consolidated Virginia Mine have begun proceedings against the firm of Flood and O'Brien, trustees of the company, to recover the sum of $35,634,338, alleged to have been wrongfully diverted by said trustees in their management of the mine. The defendants claim that the objeet of the proceedings is simply to bear the stock by attacking the management of the mines. Emile Houillion, who was sentenced to be hanged at Columbus, Texas, on the 24th of May, cheated the gallows by taking a fatal dose of poison on the night previous to the day set for his execution. His crime was the murder of Mathias Maisch, a brother lawyer, in 1876, for improper intimacy with his wife. During a severe storm on the night of the 21st, an entire freight train of 18 cars, together with the locomotive, went through a high trestle on the Kansas Pacific Railroad near Denver, into the yawning abyes below. Three men on the locomotive were presumably killed, but a long search for their bodies had proved unavailing, and, still more strange to relate, no trace of the locometive could be found. James O. Taylor, a well-to-do farmer of Clarksville, West Va.,is under arrest charged with the horrible crime of outraging his own daughter, a beautiful girl aged 17. Taylor is a prominent member of the M. E. Church. His daughter, who has always borne a most excellent character, herself preferred the charges against him, the details of which are almost too horrible for belief. The State Savings Bank of Dallas, Texas, suspended on the 27th. Liabilities, $51,000; assets, $40,000. At Arlington, Bureau County, III., on the evening of the 26th, Samuel Kearney, who had been paying his addresses to Mrs. Elizabeth Shehan, daughter of Judge Cullenbine, upon being refused further permission to continue his visits, armed himself, and, gaining admission to Mrs. Shehan's apartment, shot her, but without fatal effect. She then ran down stairs, pursued by him, and the father attempting toarrest the assassin, the latter fired at him, the ball entering his hip. Kearney then seized a carving knife from the table, with which he deliberately cut Mrs. Shehan's throat from ear to ear, and then with a razor he severed his own juglar, falling back dead almost instantly. Mrs. Cullenbine, in attempting to wrest the knife from the assassin, was also badly cut, but both she and her husband will recover. Kearney was about 40 years of age, and had been visiting Mrs. Shehan for about a year. The latter was the mother of two children, and had been separated from her husband for some years. Rev. Dr. Seymour, at the unanimous request of the Springfield (III.) Diocesan Convention, P. E. Church, has reconsidered his former resolution and will accept the Bishopric.

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The Bank of Dallas

In view of the recent bank and other failures in this city, those who have suffered thereby and the public generally, are notified that the Dallas Loan Office, 6071 Main street, opposite the late State Savings bank, is the place where you can get accommodation. This institution cannot fail, as Richard Cohn, its proprietor's, assets are large and owes nothing. He has a large and secure burglar proof vault in which to deposit securities and other valuables, and what is better, he is the proprietor of his own business, runs under his own name and is neither manager or agent. Money loaned at reasonable rates. The larger the sum the lower the interest.-junel-1wk