A. & J. C. S. Harrison (Indianapolis, IN)

Episode Information

Episode UID
5979728691015
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
trust
Bank ID
597972869 hash
Start Date
July 17, 1884
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1cbd1f72f1ebdce2

Response Measures

None

Description

Receiver appointed and bank described as insolvent; no reopening reported.

Events (3)

1. July 17, 1884 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors believed the bank was in distress/insolvent leading to withdrawals; clearing-house checks refused
Measures
Partial payments made for immediate needs; paid percentage demands; refused payment of clearing-house checks (~$26,741–$27,000)
Newspaper Excerpt
a small run on the private banking house of A. & J. C.S. Harrison
Source
newspapers
2. July 18, 1884 Suspension
Cause
Government Action
Cause Details
Court action following insolvency/run led to sheriff taking possession and appointment of a receiver
Newspaper Excerpt
The banking house ... did not open its doors this morning. A petition was filed by Alfred Harrison ... asking for the appointment of a receiver
Source
newspapers
3. July 19, 1884 Receivership
Newspaper Excerpt
Judge Robert N. Lamb was to-day appointed receiver of the suspended banking house of A. & J. C. S. Harrison. Judge Lamb accepted the trust, filed a bond ... and at once took charge of the bank
Source
newspapers

Newspaper Articles (15)

Article from St. Paul Daily Globe, July 18, 1884

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The Indianapolis Banks. INDIANAPOLIS, July -There was a mild renewal of the financial excitement here to-day, resulting in a small run on the private banking house of A. & J. C.S. Harrison. It was understood the bank was in distress, and a meeting of the clearing house was held for the purpose of determining whether assistance should be extended. Before action could be taken J.C.S. Harrison arose and in positive terms declined assistance. He then returned to his place of business, where quite a crowd of depositors had assembled. Harrison made an address, saying the bank's resources were ample to pay all debts, avowing wiilingness to pay percentage demands where money was absolutely needed, and declaring he would not be driven to the wall. Payments were made during the day in accordance with this rule, and while unsatisfactory the depositors were compelled to be content. During the afternoon Harrison announced that to-morrow all checks will be honored. If not for their full face, at least sufficient for immediate needs. Harrison to-day refused payment of clearing house checks to the amount of $26,741. The checks were provested, and the bank ruled out of the association. The bank is comparatively a small concern.


Article from Alexandria Gazette, July 18, 1884

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RUN ON A BANK. INDIANAPOLIS, Ind., July 18.-There was a run yesterday on the small banking house of A. & J. C.S. Harrison. The depositors were paid only a portion of their checks. Harrison refused payment of clearing house checks to the amount of $27,000 and was ruled out of the association. Ingram and A. E. Fletcher, of Fletcher & Sharpe, have deeded property to trustees for the benefit of their creditors to the amount of $450,000.


Article from St. Paul Daily Globe, July 18, 1884

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The Indianapolis Banks. INDIANAPOLIS, July 17.-There was a mild renewal of the financial excitement here to-day, resulting in a small run on the private banking house of A. & J. C.S. Harrison. It was understood the bank was in distress, and a meeting of the clearing house was held for the purpose of determining whether assistance should be extended. Before action could be taken J. C. S. Harrison arose and in positive terms declined assistance. He then returned to his place of business, where quite a crowd of depositors had assembled. Harrison made an address, saying the bank's resources were ample to pay all debts, avowing willingness to pay percentage demands where money was absolutely needed, and declaring he would not be driven to the wall. Payments were made during the day in accordance with this rule, and while unsatisfactory the depositors were compelled to be content. During the afternoon Harrison announced that to-morrow all checks will be honored. If not for their full face, at least sufficient for immediate needs. Harrison to-day refused payment of clearing house checks to the amount of $26,741. The checks were protested, and the bank ruled out of the association. The bank is comparatively a small concern.


Article from Daily Kennebec Journal, July 19, 1884

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TELEGRAPHIC SPARKS. Sam Williams, colored. was hanged at Waynesboro, Friday noon, for murder. There is much sickness in Panama In one hospital there are over a dozen cases of yellow fever. The democrats of the 3rd Congressional district of West Virginia, Friday, renominated C. P. Snyder. Postmaster General Gresham has stated positively that letter carriers will receive leaves of absence as provided by law. a A well being dug at Durham. N. C., caved in Friday, burying seven men: three were taken out. One man was badly injured. 0 In the U. S. court at Cincinnati, Friday, / George Haber was appointed receiver at Cine cinnati of the Northern division of the Teledo, Cincinnati & St. Louis railroad. In accordance with the resolutions adopted by the New Orleans board of health, July 9th, the president of the board, Thursday, issued rigorous quarautine regulations. The executive committee of the United States Lawn Tennis Association met Thursday night in New York and decided to hold the annual tournament at Newport. Ang 26 The business failures throughout the coun try, in the last seven days, number for the United States, 1092 and for Canada 23, an increase of 17 failures over the number of last week. Lewis Bishop, the actor, who shot himself a few days ago, in his boarding house on Limington avenue, New York, is wanted in Boston on charge of forgery and is now under arrest. Two sons of Mr. Platt, United States consul at Cork, were boating at Queenstown, Friday, when the craft upset. One of the boys was drowned and the other boy's recovery is doubtful. The treasury department has made a ruling that United States shipping commissioners are the only persons entitled to receive compensation for shipping seamen for coast or contiguous trade. The New York police sent out an alarm Friday giving a description of John P. Locher of Rutland, Vt.. who unaccountably disappeared on the way to Washington, with 810,000 in his possession. Frank E. Everett for a number of years a banker of Golden, Col., committed suicide Thursday by shooting, while insane from the effects of chloral, taken for medical purposes. He formerly resided in Boston. Gov. Cleveland and staff arrived at the State camp at Poughkeepsie, N. Y., Friday. and was received with a salute of 21 guns. At 5 e'clock he reviewed the second provis ional regiment and left for Albany on the 7 o'clock train. Six sleepers were placed across the track of the B. & M. railroad, at a point between Atkinson depot and Plaistow, N. H., Thurs. day night with the evident intention of wrecking the train The obstructions were dis covered and removed by hands of the freight I train passing on another track. In the court of common pleas at Newport, R. I., Friday, Wm. H. Shea, aged 22, was convicted of the murder of Eugene Barker, a policeman of Newport, who was attempting his arrest on the 22nd of April last. The det fense was temporary insanity, induced by I jealousy. Shea was sentenced to the State prison for life. 3 8 A diver has examined the sunken schooner off Corson's Inlet. N. J., and finds it to be g the Deborah H. Diverty. from Albany to Richd mond with coal. No bodies were found and the . boat and compass is gone. It is supposed t the crew of six men with two other men and one child. all of Dennisville, N. J., took to I the vawl and it sank with them. y The banking house of A. & J.C. S. Har8 rison of Indianapolis did not open its doors , Friday forenoon. Upon petition of Alfred t Harrison, senior partner, the court appointed , John Clay Poole receiver, who at once took r charge of the bank. No statement of its s affairs is obtainable at present. The bank 8 had about 400 depositors. some of considerable sums. The city has $60,000 on deposit there.


Article from National Republican, July 19, 1884

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MORE BANK FAILURES. Another Indianapolis Firm Goes Under-Chicago Brokers Get Left on Corn. INDIANAPOLIS, IND., July 18.-The private banking house of A. & J. C. S. Harrison, notwhithstanding the assurances given by the latter gentleman yesday, did not open its doors this morning. Before the hour for opening the sidewalk in front of the building was blocked by a crowd of depositors seeking payment of the balance due. them, but they were disappointed. Duting the morning Atfred Harrison, by his attorneys, appeared before Judge Walker and asked for the appointment of a receiver. Judge Walker named John Claypool, but he declined to act. The name of John S. Shann was then proposed, but he also declined, and under orders from the court the sheriff took possession pending the appointment of a receiver. The bank has from 300 to 400 depositors, and the amount of the deposits is variously estimated at from $500,000 to $600,000. A considerable portion of this money is trust and municipal funds, City Treasurer Pattison having $40,000 on deposit with the firm. Mr. Pattison, it is understood, will be fully secured. Friends of Mr. Harrison say that he confidently expected assistance this morning, and claim that he depositors was honest that yesterday they would in lose assuring nothing. the There is a general belief that the failure is a bad one and that the depositors will realize but little. The failure has had effect upon the other city banks, the effect of it having been discounted by the partial suspension yesterday. J. C. Harrison is receiver for the Indiana Banking company, which failed last August for $750,000. Up to April 1 he had collected $123,000. and since that date a 10 per cent. dividend has been paid. There is an impression that the accounts of this receivership and of the Harrison bank are badly confused. Harrison is supposed to have at present about $60,000 in money belonging to the depositors of the banking company. CHICAGO, July 18.-Harmon Spruance & Co., one of the oldest and most conservative houses on the board of trade, announced its suspension this afternoon, and stated that the differences against it would be adjusted as soon as its trades could be transferred. The firm is understood to have been short about 1,000,000 bushels of corn, and to have lost both on the ascending and descending market. It declines to make any statement, but the liabilities are estimated at $100,000. The firm has been in existence twentyfive years. Harmon Spruance, the head of the house, was once the president of the board of trade, and wasrated as worth $200,000.


Article from The Democratic Leader, July 19, 1884

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Indianapolis Hit Again. INDIANAPOLIS, July 18.-The banking house of A. and J. C. S. Harrison did not open its doors this morning. A petition was filed by Alfred Harrison, the senior partner, asking for the appointment of a reciever and the court appointed John Claypool, son of Hon. Solomon Claypool, who is attorney for J. C. S. Harrison in the receivership of the Indiana Banking Company. Mr. Claypool filed a bond at once and took charge of the bank. No statement is obtainable yet. There are about 400 depositors, some for considerable sums, among them $60,000 of the city funds.


Article from Eureka Daily Sentinel, July 19, 1884

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EASTERN Blaine's Letter of Acceptance Sent to the Press. MORE FAILURES IN NEW YORK AND INDIANAPOLIS. Mrs. Ferdinand Ward Will Spend the Summer at East Haddam. HER HUSBAND WILL SPEND THE SUMMER IN A NEW YORK JAIL. The Report of Cholera in New York Not Well-Founded. [SPECIAL TO THE SENTINEL.| Queer Sensation. CLEVELAND, July 18.-A lady, with her face closely veiled, was seen sitting in the Union Depot here yesterday. She was accompanied by an elderly couple, and attracted much notice. Through her evident efforts to conceal herself, inquiry disclosed the fact that her name was Morgan and her home in Philadelphia. Some time ago she was remarkable among her acquaintances for her unusually clear complexion, which her parents discovered was the result of using arsenic. They at once stopped her dangerous indulgence, when the young lady was taken ill. As she recovered, her face became covered with yellow spots, which deepened in color until they became as black as the skin of a negro. The physicians were unable to do anything for her, and she was sent to the Hot Springs. Even this treatment was of no avail, and now, accompanied by her parents, she is on her way home. Pedagogic Business. MADISON, Wis., July 18.-At the last day of the convention of the National Teachers' Association the Committee on Nominations recommended the renominstion of President T. W. Bicknell, who declined the honor. F. Louis Soudon of St. Louis was then recommended as Bicknell's successor, with W. E. Sheldon of Boston as Secretary. A resolution was unanimously adopted that the thanks of the convention be tendered to Senator Blair of New Hampshire for his successful labors in behalf of Federal aid for the common schools of the country. Supt. Swain of Indiana was congratulated for the successful exposition of the educational exhibit, being the greatest of the kind ever seen in America. Blaine's Letter. AUGUSTA, Me., July 18.-Mr. Blaine's letter of acceptance has been mailed to the press. It opens with the discussion of the differences between the Republican and Democratic parties on the tariff question, and the importance of the protection of American labor. This takes up one-half of the letter. The subject of American commerce and Civil Service receive atten tion. The policy of & friendly union between the States of North and South America is defended as a policy of peace and humanity. The style of the letter is plain, simple and direct. It contains about 6,000 words. Out of Sight Out of Mind. WHEELING, W. Va., July 18.-William Scholes, a stock dealer, with a beautiful wife and 11-months-old child, who lived in Pottsville, Ohio, left home to purchase cattle, leaving everything in charge of a young man whom he employed as foreman. He returned Wednesday. Finding his house closed he forced a shutter open and entered. His child lay on the floor starved to death, and the body half decomposed. The wife and the young foreman had disappeared. There were also $2,000 in bonds and money, which he left in his wife's care. More Lightning. INDIANAPOLIS, July 18.-The banking house of A. & J. C. S. Harrison did not open its doors this morning. A petition was filed by Alfred Harrison, senior partner, asking the appointment of & receiver, and the Court appointed John Claypool, son of Hon. Solomon Claypool, who is attorney for J. C. S. Harrison in the receivership of the Indiana Banking Company. Mr. Claypool filed a bond at once and took charge of the bank. No statement is obtainable yet. There are about 400 depositors-some for considerable sums. Among them is $60,000 city funds. Mrs. Ferdinand Ward. NEW YORK, July 18. -The Herald's New Haven special says: Mrs. Ferdinand Ward, will, in a few days arrive at the Champion House, at East Haddam, where she will spend the Summer months, while her husband the partner of young Grant] remains in Ludlow Street Jail. She has alreadv sent her horses and carriage. and


Article from The Indianapolis Journal, July 19, 1884

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His Banking-House Suspends Operations and Asks for a Receiver. Nobody Found to Accept the Trust-Details of the Bank's Affairs-Proposed Reorganization of Fletcher & Sharpe's. The repeated assertions of Mr. John C.S. Harrison, on Thursday, that his bank would not suspend, and that depositors would be paid yesterday, proved to be, in gambler's parlance, "a great big bluff," as was suspected at the time. If he had confidence in his ability to make pay ments yesterday, in the expectation of reeeiving financial aid from the East, he must have been grievously disappointed, and if he knew, which is more probable, that he could not fulfill his promises, his conduct was not in strict accordance with some people's idea of honesty and veracity. The present opinion prevails that he succeeded in standing off for a single day that disaster that he must have known was inevitable. At the beginning of business hours, yesterday morning, there was a crowd of depositors around Harrisons' bank, anxiously awaiting the opening of the doors. If, on that eventful day, they await as vainly the opening of the golden gates, theirs will be an unhappy fate, indeed. The bank was not opened at all during the day, and no intimation of the intentions of the partners was given to the creditors, in the form of a notice on the door, as is usually the case. Those who had relied upon Mr. Harrison's promises were particularly indignant that he should have deceived them, and threats of vengeance were numerous and vehement. That gentleman was fortunate, perhaps, in having business that called him to another part of the city at that time, for he certainly could not be found down town. Very soon it became known that an application for a receiver for the bank had been made and granted by the court. THE LEGAL PROCEEDINGS. Before Judge Walker, sitting in special ses sion, Messrs. Harrison, Miller & Elam and Claypool & Ketcham, attorneys for the Harrisons, appeared at 9 o'clock in the morning, and filed the following complaint: Alfred Harrison vs. John C.S. Harrison. The plaintiff complains of the defendant and says that the parties are partners doing business, as bankers, at Indianapolis, under the firm name of A. &J. C.S. Harrison, and have been, as such partnership, doing such business for twenty years last past. The plaintiff further avers that run has been going on by their depositors against their said bank for several days last past, wherebyltheir cash resources have been so much reduced that they are unable longer to continue said banking business, and said firm is therefore insolvent. That in order to prevent multiplicity of suits and thereby cause great expense in litigation,and in order to save said estate for the creditors, it is important that & receiver of the said firm be appointed for said firm, to take posession and control of the assets of the firm and administer the same under the order of the court That a dissolution of said partnership be had and an accounting between the parties, wherefore plaintiff prays the court that a receiver be appointed to take possession and control and management of the assets of said firm and wind up its affairs. that said firm bedisolved. an accounting be had between the parties and for all other proper relief. HARRISON, MILLER & ELAM. CLAYPOOL & KETCHAM, 8 Attorneys for Plaintiff. To this an answer was filed by the defendant, admitting the facts set forth in the complaint. Mr. John Claypool, son of the senior member of the law firm of Claypool & Ketcham, was suggested for the position, but declined it, and by mutual consent Mr. John S. Spann was appointed, his bond being fixed at $300,000, and the court took a recess for him to secure the necessary securieties. Mr. Spann, however, did not want the position, for personal reasons, as it is stated, and when this became known, late in the afternoon, when it was too late to select another gentleman, the following order was issued by the court: Alfred Harrison vs. John C.S. Harrison. Comes now the plaintiff and files his complaint, asking the appointment of & receiver, which complaint is, in these words [Here follows the complaint given above], and said defendant files his answer, admitting the allegations of said complaint. And now Hon. Lewis C. Walker, one of the judges of the Superior Courts of Marion county, being satisfied that such reeeiver ought to be appointed, does, with a view to such appointment, take the custody and control of all the property and assets of said partnership firm of A. &J. Harrison, plaintiff and defendant, and does now, preceding the selection and qualification of such receiver, order and direct that the sheriff of Marion county do take possession and control of said prop. erty, including the banking house of said firm, with safes, vaults, and all books, papers, money and assets of every description, and said sheriff is directed safely to keep the same until the further order of said LEWIS C. WALKER, judge. Judge Superior Court. The bank and all the property was there fore turned over to the charge of Sherift Hess, who at once took possession. In all probability some self-sacrificing gentleman will be found this morning who is willing to be the receiver and is able to give the required bond. THE CONDITION OF THE BANK. It is next to impossible to obtain any accurate information regarding the real condition of the bank. Both of the partners declined to make any statements for publication yesterday. In fact, they even refused to see the reporters who called at their houses. An enterprising News reporter did get to see Mr. Alfred Harrison yesterday morning, and his account of the interview is as follows: He was in a crusty humor, and when the re porter requested a statement concerning the bank's condition and an approximate of its as sets and liabilities, he turned white with rage and burst forth vehemently, Young man, I had rather have you to come here to burglarize my house than to catechise me about my business. It is an insult for you to enter my door on that kind of a mission. Put that in your paper if you want to. The young man mildly suggerted that the depositors considered it their business as well as his, and were anxious to hear something authentic touching the suspension, where upon he again exploded with still greater fury, saying: won't tell you anything You can't catΓ©chise me about my business. It is insulting for you to come here now. Put that in your paper; every word of it, I say The old gentleman could searcely retain himself in his arm chair, on account of his indignation, and the re porter, unable to make himself heard, perempsorily retired. Mr. John C. S. Harrison could not be found by the reporters, and at his house they were told that he would see nobody. Mr. Watson, the cashier of the bank, said that he thought its de-


Article from Richmond Dispatch, July 19, 1884

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Monetary Troubles in Indianapolis. (By telegraph to the Dispatch.] INDIANAPOLIS, July 18.-Ingram & A. E. Fletcher & Sharpe have deeded property to trustees, for the benefit of their creditors. to the amount of $450,000. There was a run yesterday on the small banking-house of A. & J. C. S. Harrison. Depositors were paid only a portion of their checks. Harrison refused the payment of clearing-house checks to the amount of $27,000 and was ruled out of the Association. The house did not open its doors this morning. A petition has been filed by Alfred Harrison, the senior partner, asking the appointment of receiver. The court appointed John Claypool, son of Hon. Solomon Claypool, who is attorney for J. C.S. Harrison in the receivership of the Indiana Banking Company. Claypool filed his bond at once and took charge of the bank. No statement is obtainable yet. There are about four thousand depositors, some for considerable sums. among them $60,000 of city funds.


Article from The Salt Lake Herald, July 19, 1884

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Business Failures. Indianapolis, 18.-The banking house of A. and J. C. S. Harnison, did not open its doors this morning. A Petition was filed by Alfred Harrison, senior partner, asking the ap. pointment of a receiver and the court appointed John Claypool, son of Hon, Solomon Claypool, who is attorney for J. C. B. Harrison in the receivership of the Indiana Banking Co. Mr. Claypool filed & bond at once and took charge of the bank. No statement 18 obtainable, yet there are about 400 depositors, some for considerable sums, among them 660,000 of the city funds. Ovid, Michigan, 18. - Cotter, Beattie & Co., general merchandise and lumber manufacturers, made an assignment to-day. The firm was a heavy one. This is the third failure here within twenty days. New York, 18.-Schedules in the assignment of Carbart, Whitford & Co., clothiers, to Nathaniel Whitman, was filed to-day. Liabilities $1,556,497; contingent liabilities, $189.898; nominal assets, $1,516,184; actual assets, 911,562. The princi pal creditors are Marlin & Leak $266,660; Lasher, Whitman & Co., $48,381; National Citizens' Bank, $20,000; Estate of Thos. Caroart, $361,059; among the contingent liabilities are National Broadway Bank, $43,438; Ninth National Bank, $82,246; National Citizens' Bank, $45,124.


Article from St. Paul Daily Globe, July 19, 1884

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Another Indianapolis Banking House INDIANAPOLIS, Ind., July 18.-The banking house of A. & J. C.S. Harrison, did not open its doors this morning. A petition has been filed by Alfred Harrison the senior partner, asking the appointment of a receiver, and the court has appointed John Claypool son of Hon. Solomen Claypool, who is attorney for J. C. S. Harrison in the receivership of the Indian a banking company, Mr. Claypool filed his bond at once and took charge of the bank. No statement is obtainable yet. There are about four hundred depositors, some for considerable sums, -among them $60,000 of city funds.


Article from St. Paul Daily Globe, July 19, 1884

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Another Indianapolis Banking House INDIANAPOLIS, Ind., July 18.-The banking house of A. & J. C.S. Harrison, did not open its doors this morning. A petition has been filed by Alfred Harrison the senior partner, asking the appointment of a receiver, and the court has appointed John Claypool son of Hon. Solomen Claypool, ho is attorney for J. C. S. Harrison in the receivership of the Indiana banking company, Mr. Claypool filed his bond at once and took charge of the bank. No statement is obtainable yet. There are about four hundred depositors, some for considerable sums, -among them $60,000 of city funds.


Article from New-York Tribune, July 19, 1884

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troubles OF BANKERS AND merchants. PETERSBURG, Va., July 18.-The Grand Jury has been engaged te-day in examining witnesses in refcrence to the affairs of the Planters and Mechanics' Bank, which made a deed of trust on May 19. One of the witnesses testified that he had given an important paper containing certain facts in reference to the condition of the bank in 1874, to a promisent lawyer of this city. Application W88 made by the Grand Jury for this paper, but the lawyer refused to deliver it. The matter was then taken before Judge E. M. Mans. of the Hustings Court, but as the court is engaged with the trial of a murder case the jury were sent back to their room to examine other witnesses until the court can look into the matter. Indianapolis, July 18.-Tue banking-Γ guse of A. & J. C.S. Harrison did not open its doors this merning. A petition was filed by Alfred Harrison. the senior partner, asking for the appointment of a receiver, and the court appointed John Claypeol, son of Solomon Claypool, who who is atterney for J. C. S. Harrison in the receivership of the Indiana Banking Company. Mr. Claypool filed a bond at once and took charge of the bank. No statement of the affairs of the bank is obtainable at present. The bank had about 400 depositors, some for considerable sums, The city has $60,000 on deposit there. CAIRO, Ills., July 18.-Private advices from Murphysboro, Ills., report the failure of the Savings Bank in that place. The liabilities are not stated. The nominal assets are $50,000. The people are irritated because the bank received deposits up to the hour of closing. Trouble IS apprekended. MANCHESTER, N. H., July 18.-The stock. fixtures and real estate of George S. Clough & Co., wholesale pork dealers. were attached yesterday afternoon by the Manchester National Bank, which holds the firm's paper to the amount of $2,500. It is thought the firm's liabilities are $30,000.


Article from Savannah Morning News, July 20, 1884

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A Receiver for Harrison's Banking House. INDIANAPOLIS, July 19.-Judge Robert N. Lamb was to-day appointed receiver of the suspended banking house of A. & J. C. S. Harrison. Judge Lamb accepted the trust, filed a bond in the sum of $100,000 and at once took charge of the bank, relieving the Sheriff, who has had charge since the suspension.


Article from The Sun, July 20, 1884

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A Receiver Appointed. INDIANAPOLIS, July 19.-Judge Robert N. Lamb was to-day appointed receiver of the suspended banking house of A. & J. C. S. Harrison. Judge Lamb accepted the trust. filed a bend in the sum of $100,000, and at once took charge of the bank, relieving the Sheriff, who has had charge since the suspension.