Article Text
Boom Town Bank Busted. LOUISVILLE, Kr., October 19.-W. E. Carl has been appointed receiver for the Peoples Bank of Middlesborough which has failed for $28,000 nominal assetts $78,000, practically worthless. Depositors will lose all.
7380. Peoples Bank (Middlesboro, KY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- October 19, 1892
- Location
- Middlesboro, Kentucky (36.608, -83.717)
Metadata
- Model
- gpt-5-mini
- Short Digest
d500fd55
Response Measures
None
Description
Multiple contemporaneous newspaper reports (Oct 19–26, 1892) state W. E. Carl/Cabell appointed receiver for the People's/Peoples Bank of Middlesborough (Middlesboro), Ky., reporting failure and that depositors will lose all. No article mentions a depositor run prior to suspension; the bank was placed in receivership and effectively closed. OCR variants of receiver name (W. E. Carl/Cabell) and town spelling (Middlesborough/Middlesboro) corrected to W. E. Carl (as reported) and Middlesboro in notes.
Events (1)
1.
October 19, 1892
Receivership
- Newspaper Excerpt
- W. E. Carl has been appointed receiver for the People's Bank of Middlesborough, which has failed for $28,000; nominal assets, $78,000, practically worthless. Depositors will lose all.
- Source
- newspapers
Newspaper Articles (7)
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Bank Depositors Lose Everything. LOUISVILLE, Oct. 19.-W. E. Carl has been appointed receiver for the People's Bank of Middlesborough, which has failed for $28,000. Nominal assets, $78,000, practically worthless. Depositors will lose all.
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ASK your grocer for Princess Flour, Made by Blanton. Watson & Co. TELEGRAPHIC BREVITIES. Swisher Bros., of Columbus, O., dealers in leaf tobacco and cigars, have asked for a receiver. Mrs. Lucy Whalen, a niece of the Mormon prophet. Joseph Smith, is dead at Burlington, la., aged fifty-two. Ida Lange, of Dubuque, Ia., six years old, is afflicted with Jumpy jaw, a disease that seldom attacks human beings. Mayor Grant, of New York, has been offered $40,000 a year to accept the presidency of a Kentucky distilling company. John Kowaski and Levi Adair were fatally injured by the bursting of a cannon at Republican rally held at Emporia, Kan. Isaac Phillips shot and killed 'Squire O'Donnell, a justice of the peace, during a heated political discussion at Hazieton, Pa. Jack Davis, the pugilist whose swinging left killed Dick Nolan at Memphis some time ago, has been indicted for manslaughter. Joseph Matthews and wife, living near Claremont. 8. €., went to a religious meeting and locked their four children in the house. Fire consumed the house and all the little ones. W. E. Carle has been appointed receiver for the People's Bank, of Middlesborough, Ky., which has failed for $28,000; nominal assets, $78,000, practically worthless. Depositors will lose all. Temporary receivers have been appointed for the Dartsmouth Spinning Company, Augusta, Ga. The creditors are mostly banking concerns in Philadelphia. The total indebtedness is $194,000. Lieut. Alfred von Alvensleben, of the famous Second Regiment of German Imperial Hussars. was picked up in the streets of New York, dangerously ill, and taken to Bellevue Hospital, where he died. At Greensboro, N.C., Charles Reynolds and Merriam Headin, both colored, were hanged publiely in the presence of several thousand people. Their crime was the murder of Solathill Swain, a White man eighty years old. A report on the condition of the Order of Tonti shows that the assets of the society are $2,642. 884. and that $1.304,714 has been distributed to beneficiaries. The officers are said to be perfectly honest, no irregularities having been discovered in their accounts. William McFarland, the owner of two elks which have been exhibited at Memphis, was attacked by one of the animals Wednesday and badly hurt. The animal drove one of its antlers through McFarland's body. inflicting what is thought to be a mortal wound. Chief of Police O'Mara, of Pittaburg, has been indicted at Moninouth, N. J., for conveying Frank Mollick, who was arrested on suspicion of being an accomplice of Bergman in the attemp ed assassination of H. C. Frick, of the Carnegle Company. He took Mollick out of the State of New Jersey without a requisition. Frauk S. Gray. formerly business manager of the New York Mail and Express. has obtained a judgment of $18,145 against Elliot F. Shepard in default before Justice Beach, of the Supreme Court. Gray had a contract with Shepard to run for five years, beginning April 18, 1888, and was to receive a yearly salary of $6,000, and also for the last three years additional compensation of $5,000 yearly. On Jan: 4, 1890, he was discharged.
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from Liverpool October 12 and arrived at Sandy Hook lightship a little after midnight on the 18th, covering a distance of 2,782 miles in 5 days 14 hours and 24 minutes, beating the record by 1 hour and 34 minutes. Her days' runs were as follows: 448, 508, 505, 530 and 288. Two distinct earthquake shocks were felt in Morgan county, Ind., on the 19th. Buildings in Martinsville were shaken and clocks were stopped. No damage resulted. AT Waco, Tex., on the 19th, O. W. David, for twelve years county tax collector, was indicted by the grand jury for embezzling $27,000. David was removed recently, when the shortage became known, and the amount was made good by his bondsmen. He was released on bail. AT Emporia, Kan., on the night of the 19th, by the bursting of a cannon which they were serving at a republican rally, Julius Kowalski and Lane S. Adair were badly injured. Kowalski had both his arms torn off and Adair lost one hand. It is feared that Kowalski will not recover. AT West Winsted, Conn., on the 19th four hundred school children were seated on temporary seats fifteen feet high rehearsing for the Columbus day celebration, when the benches collapsed and three hundred children fell to the floor. Many received broken limbs, but none were killed. "Doc" CAMPBELL, who created a national sensation some years ago by being sent to the Ohio penitentiary for changing the number on a tally sheet in the interest of the democrats, was caught and jailed at Springfield, O., on the 19th for stealing a horse and buggy. THE sale of the Algeria stud, the property of the late William L. Scott, was continued at Tattersalis, N. Y., on the 19th. The famous stallion Rayon d'Or, by Flagiolet, out of Auricaria, was sold to August Belmont for $32,000 after lively bidding between that gentleman and B. G. Haggin. THE equity suits, quo warranto proceedings and petitions to the courts for the appointment of receivers have caused the downfall in quick succession of a number of the short term orders in Philadelphia. W. E. CARL has been appointed roceiver for the People's bank of Middlesborough, Ky., which has failed for $28,000; nominal assets $78,000, practically worthless. Depositors will lose all. THE Monmouth county (N. J.) grand jury has found indictments for kidnaping against Chief of Police O'Mara, of Pittsburgh, for carrying off Frank Mollick, who was arrested on suspicion of being an accomplice of Bergmann in the attempted assassination of Mr. Frick of the Carnegie Company. He took Mollick out of the state of New Jersey without a requisition. THE chief of the revenue marine service, in his annual report, says the entire service has cost during the year nearly a million dollars Over $20,000 of this amount has been expended in enforcing the law regulating the anchorage of vessels in the bay and harbor of New York. C. BURKHALTER & Co., wholesale grocers of New York, have made an assignment, with preferences aggregating over $183,000. It is believed that the total liabilities will reach $700,000. IT has been arranged between the vatican and the United States government that an American war ship shall convey the papal exhibits at the world's fair across the ocean. THE first long distance telephone message ever sent from Chicago to a daily newspaper was received on the 21st by the Brooklyn (N. Y.) Standard Union. Not only were the words of the correspondent distinctly heard, but his voice was as clearly recognizable as if he stood in the office when the mes. sage was received. ON the 21st four children of Josh Matthews, living near Claremont, Sumpter county, S. C., were burned to a crisp. The father and mother had been in attendance upon some religious observance, and had locked the children in the house. AT the faculty meeting of Lehigh university at Bethlehem, Pa., on the 21st, two students were expelled and four suspended for hazing. A DOZEN buildings at Atlanta, Pa., burned on the 21st, causing a loss of $70,000, with $30,000 insurance. It was of incendiary origin. THE $5,000 reward offered by the Missouri, Kansas & Texas railroad for the extermination of the Dalton gang has been distributed. Each of the families of the four murdered citizens of Coffeyville, Kan., received $1,000, and the other $1,000 was divided among five other citizens. The relief fund, besides this contribution, now amounts to $5,950. AT Pittsburgh, Pa., on the night of the 20th, as GusSmith and Hans Sutter, laborers in Carnegie's upper Union mill, were going to their work, they were set upon and fatally beaten by five men, alleged to be strikers. There was no positive clew to the assailants. COLUMBUS DAY was Attingly observed all over the country on the 21st. In all the principal cities parades by school children, military and civic societies were the principal features. IN his annual report, recently, the paymaster of the United States army states that the expenditures on account of the armv were nearly $300 000 less
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Financial and Commercial. J. Coon & Co., bankers, of Alvington Ont,, have assigned. Liabilities, $60,000: assets, $20,000. W.E. Carl has been appointed receiver for the People's bank of Middlesborough, Ky., which has failed for $28,000; nominal assets, $78,000, practically worthless. Depositors will lose all.
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SOUTHERN FINANCIAL NEWS. NEW BANKS. Bastrop, La.-The Bastrop State Bank has been organized with James Bussey, president; Samuel Wolff, vice-president, and A B. Marks, cashier. It will commence business about January 1. The capiral stock 18 '000'093 Columbia, S. C-A bill has been introduced in the legislature to incorporate the Columbian Banking & Trust Co. Glasgow, Ky.-The First National Bank of Glasgow will shortly commence business with G. C. Young. president, and W. B. Smith, cashier. The capital stock is $50 000. Jasper, Fla.-The First National Bank of Jasper will probably scon be Paducah, Ky.-The corporate exis tence of the American-German Na tional Bank of Paducah has been exended to November 30, 1912. Sisterville. W. Va.-The Tyler County Bank was chartered by A. C. Jackson, E. A. Durham, J. T. Jones nd others. It will 80 on commence business. The capital stock is $15,' ). Atlanta, Ga.-A bill has been inroduced in the legislature to authorze and direct the governor and treasrer to issue state bonds to the -10d the .J° And 01 ( 1899$ 10 anow ion of the public debt maturing in 893. Atlanta, G&-A bill has been inroduced in the legislature authorizng the mayor and general council to ssue $250,0.0 of new water works 'spao Barnesville, Ga.-The town will old an election on December 15 " ote the issuance ot $15,000 of 6 per ent. bonds. Bel Green, Ala.-A bill has been ntroduced in the legislature authorsing Franklin county to issue $20,0 ) f courthouse bonds. The county lerk can be addressed. Graham, Va.-The Bank of Graham as declared a dividend of 4 per cent. Key West, Fla.-P. A. Williams, eceiver of the Bank of Key West, is red 15 jo pueplaip puoces 8 Paid ent to depositors. Middlesborough, Ky.-W. E. Caell, receiver of the People's Bank, claims uo pueplaip B Aud shortly III4 roven. Birm ngham. Ala.-A bill will be ntroduced in the legislature authori Ing the issuance of $100,000 of 30-year per cent bonds. The proceeds are to e applied to the liquidation of the loating debt of the city, the refunding f certain 9 per cent bonds, etc, Goldsboro, N. C.-The North Star tate Lumber Co. has executed a nortgage to the Baltimore Trust & Guarantee Co. to secure an issue of 100,000 of bonds. Rusk, Texas.-F. W. Bonner & Sons, bankers, have executed a deed f trust to Thomas Finty, Jr., secure heir creditors. The assets approxi000'99$ 1 pus 000'091$ atte Spartanburg, S. C. - The Home Building and Loan association has een organized with A. H. Twitchell, resident. Spartanburg, S. C-The Spartan Mills have declared a dividend of 3 er cent. Montgomery, A'a-A bill has been ntroduced in the legislature authorzing the Board of Revenue of Mont omery county to issue $300,000 o oad and bridge bonds. The First United
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SOUTHERN FINANCIAL NEWS. Manufacturer's Record. ### NEW BANKS. Bartow, Fla. The Polk County National Bank and the Bank of Bartow have consolidated. Brinkley, Ark. The People's Savings Bank has been incorporated with Parker C. Evan as president, J. J. McNally as vice-president and C. B. La Belle as secretary and treasurer. The capital stock is $25,000. Davis, W. Va. The National Bank of Davis, tully reported in our last iseue, has been authorized to commence business. Thos B. Davis is president. Hagerstown, Md. A. C. Strite and others have applied to the comptroller of the currency for authority to organize the People's National Bank. Jasper, Fla. A bank will soon be organized. Laredo, Texas. The First National Rank has reorganized with W. S. Darland, president; F. R. Malone, vice-president, and F. R. Malone, cashier; capital stock, $75,000. Morgan City. La. T. J. Clay, Chas, Lehman, C. P. Shaver and others have incorporated the bank of Morgan City with a capital stock of $25,000. Washington, N. C. A. M. Dumay and associates have applied to the comptroller of the currency for authority to organize the First National bank of Washington. Atlanta, Ga. A bill has passed the legislature to authorize the city to issue $250,000 of additional water works bonds. New Orleans, La. The Jefferson City Gaslight Co. has declared a semi-annual dividend of $3 per share. New Orleans, La. The St. Charles Hotel Co. has declared a dividend of 5 per cent. New Orleans, La. The New South Building and Loan association has declared a semi-annual dividend of 5 per cent. on its stock from first to twenty-third series, inclusive, and 4 per cent. on stock from twenty-fourth, to thirty-first series, inclusive. New Orleans, La. The New Orleans City and Lake Railroad Co. has declared a quarterly dividend of $1.75 a share. Laredo, Texas. The city council has passed an ordinance authorizing the issue of $125,000 in bonds to cancel $10,000 of outstanding bonds, $40,000 outstanding warrants, and to build a schoolhouse. The mayor can inform. Manchester, Va. The city has called in its 6 per cent 10 year bonds dated January 1, 1882 They are payable after January 1; J. W. Bronaugh, Jr., city treasurer. Middlesborough, Ky. A 10 per cent dividend on the assets of the People's Bank was declared on the 14th inst. W. E. Cabell, receiver. Newberry, S. C. The National Bank of Newberry has declared a dividend of 50 per cent. This large dividend is due to the bank reducing its surplus by $75,000. Baltimore, Md. The Merchants & Miners' Transportation Co. has declared a semi-annual dividend of 4 per cent. Birmingham, Ala. The Birmingham Trust & Savings Co. has declared a dividend of 3 per cent. Cumberland, Md. The Cumberland & Elk Lick Coal Co., has declared a dividend of 1 1-4 per cent. El Paso, Texas. The date of holding the election reported last week has been changed to January 17. An iesuance of $205,000 in bonds is the matter to be considered. The mayor can inform. Houston, Texas. Hayes & Son, of Cleveland, Ohio, have purchased $40,000 of city bonds at $12.25 premium. The bonds are 30 year 6 per cents. New Orleans, La. The State National Bank has declared a semi-annual dividend of 4 per cent. New Orleans, La. The New Orleans Gas Light Co. has declared a semi-annual dividend of $2.50 per share. Richmond, Va. The Merchants' National Bank has declared a semi-annual dividend of 3 1-2 per cent. Richmond, Va. The Fire and Marine Insurance Co. has declared a semi-annual dividend of 5 per cent. During November the mill of the Peters Lumber Co. at Alco, Ala., cut 4,100,000 feet of lumber. J. J. Lacey & Co., of Bluefield, W. Va., are at work rebuilding their recently burned saw mili. They will shortly be ready to resume operations with a fine equipment of machinery. J. F. Randolph, of Salem, W. Va., has about completed his new saw mill, built to replace the one burned recently, and operations will soon recommence. ### BUCKLEN'S ARNICA SALVE. The Best Salve in the world Cuts, Bruises, Sores, Ulcers, Salt Rheum, Fever Sores, Tetter, Chapped Hands, Chilblains, Corns and all Skin Eruptions, and posi-