7901. Franklin Bank (Boston, MA)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
March 15, 1878
Location
Boston, Massachusetts (42.358, -71.060)

Metadata

Model
gpt-5-mini
Short Digest
706b0cc5

Response Measures

Partial suspension, Books examined

Description

March 1878: panic began with run on Five Cent Savings Bank; uneasiness spread to Franklin Bank which limited payments (Mar 15). By May 14 regulators (savings bank commissioners) restricted Franklin to paying 20% over two six-month periods. That indicates a run preceded regulatory-imposed limitation/suspension. Sources do not state a final reopening or permanent closure, so outcome is unsure.

Events (2)
1. March 15, 1878 Run
Cause
Local Banks
Cause Details
Panic and heavy withdrawals triggered by a run on the Boston Five Cent Savings Bank spread to Franklin Bank (depositors frightened by other local savings-bank run).
Measures
Limited amount paid on demand to $25; required sixty days' notice for withdrawals over that amount.
Newspaper Excerpt
The uneasiness has spread to the Franklin Bank, Boylston street. the managers of the Franklin have limited the amount paid to depositors on demand to $25 and sixty days' notice is required for all sums over that amount.
Source
newspapers
2. May 14, 1878 Suspension
Cause
Government Action
Cause Details
Regulatory action by savings bank commissioners limiting payments to depositors (20% now, 20% later), effectively restricting full withdrawals.
Newspaper Excerpt
The savings bank commissioners have restricted the Franklin bank to paying twenty per cent. to the depositors during the next six months, and twenty per cent. for the subsequent six months.
Source
newspapers

Newspaper Articles (11)
1. March 15, 1878 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, March 15, 1878

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whole of the same, shall be educational fund, which said fund shall be invested in bonds of the United States bearing a rate of interest not less than four per centum per annum, both principal and interest payable in coin, the interest on such educational fund only to be appropriated as above provided, and that for the first ten years the distribution of the net proceeds and interest of the fund to and among the several States, Territories and the District of Columbia shall be made according to the number of their respective population of ten years old and upward who cannot read and write, as shown from time to time by the last preceding published census of the United States. The first apportionment is to be made on or before the 31st of July, 1878, when the States and Territories shall be entitled to receive their distributiv shares. Goode will offer an amendment providing that one-fourth of the money appropriated by this bill shall be given to agricultural colleges and institutions of learning established in accordance with the Act of Congress of July 2, 1862, unless in any case the State Legislature shall otherwise direct. Run on a Boston Savings Bank. BOSTOM, March 15.-The run on the Boston Five-Cent Savings Bank, begun yesterday, has developed into a genuine panic. School street, where the bank is located, has been blockaded by a crowd to-day, and the excitement has been intense. The committee examining the securities states that after deducting all the depreciation which the assets, embracing stocks, bonds, etc., have suffered, and allowing $16,700 with which to pay interest falling due on the 1st of April, the bank will still have a surplus of upward of $429,000. The uneasiness has spread to the Franklin Bank, Boylston street. one of the strongest banks in the country. The managers of the Franklin have limited the amount paid to depositors on demand to $25 and sixty days' notice is required for all sums over that amount. This action reduces to three the number of banks in Boston paying in full on demand. A large number of depositors in the provident institutions for savings are partaking of the general scare, and have applied for and obtained their money to-day, and the same is true of the Suffolk, although these banks are as far as known-solvent. A suit Against the Panama Trau⑉18 Company. NEW YORK, February 15.-The World says Charles A. Jones has sued the Panama Transit Company for $50,000. His agent purchased the stoamship Georgia when ashore in the Straits of Magellan for $950, but before he could take possession the company's steamer Wilmington arrived and Captain Holmes threatened to seize the Georgia if not given up peaceably, whereupon Jones, agent, entered into an agreement to sell her for $1,350 and Captain Holmes gave draft on Valparaiso for that amount. The draft was dishonored, it is claimed. at the instance of Holmes. Meauwhile the Georgia was taken away. Ats Peruvian port Captain Dow. in the employ of the Panama Transit Steamship Company, made an offer on the 12th of June to give Jones $16,250 gold and costs in settlement of his claim. This offer was accepted, but the gold was not forthcoming, drafts being offered instead. These Jones, owing to his former experience, refused. Ten days afterwards the Georgia escaped and Jones now seeks $50,000 damages. Judge Freedman denied the application to strike out a portion of the complaint. A Queer Assertion. NEW YORK, March 15.-A Herald's Washington special says that silver bullion is now held at a higher price in San Francisco than in London. It looks as though the mine owners who are few in number, and who control the supply in California and Nevada, are putting up the price on the Government now that the silver bill has forced the Treasury to be a regular purchaser of a fixed amount. The Secretary, it is understood. has not yet had occasion to buy in the San Francisco market and he will doubtless buy in the cheapest market, wherever that may be; but if the country sees that the Nevada mine owners mean to use the silver act to make a corner, it will not be inclined patiently to submit to this. General Anderson's Case. NEW YORK, March 14.-A Herald New Orleans special says There appears little doubt that the extra Legislature is to be held here in connection with the Returning Board pardons. It was stated this morning by undoubted authority that fourteen Democratic Senators have agreed to stand by Governor Nicholls in pardoning Anderson, and they would delay legistion until Anderson's case was decided by the Supreme Court. In furtherance of this arrangement they have not passed any of the important House bills sent to them and are delaying matters in every possible way. The correspondent hints that this movement is likely to cause a disruption of the Democratic party. aliver Bullion Certificates. WASHINGTON, March 15.-The Committee on Banking and Currency this morning agreed upon a bill providing for the issuing of silver bullion certificates, The bullion is be counted at its equivalent in coin, less Mint charges and cost of transportation. Certificates are to be issued by any silver coining Mint or Assay office, and to be redeemable at the Assay office in New York and the Mint in San Francisco. The certificates are to be legal tender in payment for all Government dues. A Louisinum Representative Dead. WASHINGTON, March 15. Secretary Evarts this afternoon telegraphed from the State Department the following, addressed to Hon. Samuel J. Randall, Speaker of the House of Representatives: "A telegraphic communication has just been received from the United States Consul General at Havana, stating that Hon. John Edwards Leonard, Representative from Louisiana, died this morning of W. M. EVARTS, yellow fever. "Secretary of State," The Union Pacific Open. OMAHA, March 14.-The first overland passenger express train from the West since Friday last arrived this afternoon. All the snow-bound passengers have now reached this city. The Union Pacific in now running all trains on schedule time. Four hundred miles of road was cleared from the effects of the worst storm in the history of the road, in sixty hours. The New Hampshire Election. CONCORD, March 14.-Returns are in from all the towns in the State except 16. For Governor, Prescott received 38,520 McKean, 36,571, and scattering, 535. The sixteen towns to hear from voted last year:

2. March 15, 1878 Daily Press and Dakotaian Yankton, SD
Article from Daily Press and Dakotaian, March 15, 1878

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MISCELLANEOUS. MARRIED Sioux City, March 15.-John M. McDonald, sheriff of Woodbury county, was married last night to Miss Nettie Foster. The affair was very private, only a few of the intimate friends of the bride and groom being present. A VERDICT FOR THE GOVERNMENT. Philadelphia March 15.-In the suit of the United States vs. Minor Trust company, to force the tax against the deposits and capital of the bank which is the same that Jacob Huntseinger, now serving a term in the Berk's county jail, was defaulting. The president of the bank resisted the claim, upon the ground that the capital had been wasted, the deposits had been squandered, and only existed upon the bank. The jury however, gave a verdict for the government THE ARLINGTON CASE. Richmond, March 15.-In the the United States circuit court to-day, Judge Hughes rendered a decision in the Arlington case, sustaining the plaintiffs demurer, the attorney general's suggestion, that because the United States was indirectly defendant to the suit, the court had no jurisdiction to try it. The ruling is that if sovereign power intervenes in the suit in which it is not a defendant on the record, with objection that it cannot be sued, the court will look into the grounds of its right to intervene, and that accordingly the government in this suit must stand on the strength of its title, and not upon its exemption from suit. A CAUSELESS RUN. Boston, March 15.-A run, now causeless, is on the Five Cent Savings bank, one of the largest savings banks in the state. A GENERAL PANIC. Boston, March 15.-The run on the Boston Five Cent Savings bank begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded by the crowd to-day, and the excitement has been intense. The committee examining the securities of the state, after deducting all depreciation, which the assets embracing stocks, bonds, have suffered, and all owing $167,000 with which to pay the interest falling due on the 1st of April, the bank will have a surplus upwards of $429,000. Uneasiness has spread to the Franklin bank, in Boylaton street, one of the strongest savings institutions in the country. The managera of the Franklin have limited the amount paid to the depositors on demand, to $25, and sixty day's notice is required for all sums over that amount. This action reduces to three the number of the banks in Boston, paying in full, on demand. An unusually large number of depositors in provident institutions for savings, are partaking of the general scare, and are obtaining their b money. SUSPENSION Cinclubati, March 15.-The examiners appointed by Judge Bennett, to Investigate the affairs of the Cincionati Savings bank report to-day the assets at $480,000; liabilities $437,000. The examiners declare that the affairs of the bank have been prudently managed, and the security on hand for the payment of the obligations is more than ample PENNSYLVANIA'S UNIVERSITY. Philadelphia, March 15.-The medical department of the university of Pennsylvania graduated to-day 127 students, and conh terred the honorary degree of doctor of laws a on John Weigh, United States minister to England,

3. March 15, 1878 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, March 15, 1878

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MASSACHUSETTS. GLOUCESTER, Mass., March 15.-The schooner Carrie P. Morton and crew, fourteen men, have not been heard from since Jany. 3d, and they are believed to be lost. BOSTON, March 15.-A run, now causeless,is being made,on the Five'Cent Savings bank, one of the largest savings banks in the city. The state detectives at Tewksbury yesterday arrested a number of men on charge of living in open polygamy; an attempt is being made to establish a polygamous colony at Tewksbury." BOSTON. March 15,-A run on the Boston five cent. savings bank, began yesterday, has developed into a general panic. School street. where the bank is located, has been blockaded by the crowd to-day and the excitement has been intense. The committee examining the securities state that after Ideducting all depreciation which the assets, embracing stock, bonds. &c., have suffered, and allowing $167,000 with which to pay the interest falling due the 1st April. the bank will still have a surplus of upward of $429,000. The uneasiness has spread to the Franklin bank in Boylston street, one of the strongest aving institutions in the country; the managers of the Franklin have limited the amount to be paid to depositors on demand to twenty-five dollars, and sixty days notice is required for all sums over that amount; this action reduces to three. the number of banks in Boston paying in full on demand. An unusual number of depositors in the Provident institution for savings, partaking of the general score, applied for and obtained their money

4. March 16, 1878 New-York Tribune New York, NY
Article from New-York Tribune, March 16, 1878

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BANK TROUBLES. RUN ON BOSTON SAVINGS BANKS. A PANIC AMONG DEPOSITORS-THE FIVE CENT BANK pronounced SOLVENT-ONLY THREE BANKS PAYING ON DEMAND-ACTION OF THE STATE SENATE. BOSTON, March 15.-The run on the Boston Five Cent Savings Bank, which begun yesterday, has developed to a general panic among savings banks depositors. School-st., where the Five Cent Bank is situated, has been blockaded by a crowd to-day, and the excitement has been intense. The committee, which have been engaged in examining the securities of this bank for the past two weeks, say that after deducting all the depreciation which the assets, embracing stocks, bonds, etc., have suffered since the last statement of the bank was made. and allowing $167,000 with which to pay interest falling due on the 1st of April, the bank will still have a surplus of $429,000. The uneasiness has spread to the Franklin Bank on Boylston-st., one of the strongest savings institutions in the country, the managers of which have applied the brakes in season to prevent the calamity which has overtaken some other banks. The amount paid to dopositors on demand has been limited to $25, and sixty days' notice is required for all sums over that amount. This reduces the number of banks in Boston which are paying in full on demand, to three. An unusually large number of depositors in the Provident Institution for Savings, partaking of the general scare, applied for and obtained their money to-day, and the same is true of the Suffolk Bank; although these banks are, as far as is known, solvent to the last degree. The bill enlarging the powers of Savings Bank commissioners passed the Senate to day. It empowers commissioners, when the security of depositors requires limitation of payments, to direct any savings bank as to the time and amount of payments, and any person aggrieved by such Order shall have the right to uppeal within thirty days to the Supreme Judicial Court.

5. March 16, 1878 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, March 16, 1878

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HARD-PAN. Financial Florry in Boston. BOSTON, March 15.-The run on the Boston Five-Cent Savings Bank, begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded all morn. ing, and the excitement is intense. The committee examining the securities state that after deducting all the depreciatian which the assets, en.bracing stocks, bonds, etc. have suffered, and allowing $167,000 with which to pay interest falling due on the first of April, the bank will still have a surplus of upwards of $429,000. The uneasiness has spread to the Franklin bank, in Boyleston, one of the largest savings banks in the country. The managers of the Franklin have limited the amount paid to depositors on demand to twenty-five dollars, and sixty days' notice is required for all sums over that amount. This action reduces to three the number of banks in Boston paying in full on demand. An unusually large number of depositors in the Provident Institution for Savings, partaking of the general scare applied for and obtained their money to-day, and the same is true of the Suffolk, although these banks are as far as known solvent to the last degree.

6. March 16, 1878 Daily Globe Saint Paul, MN
Article from Daily Globe, March 16, 1878

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SAVINGS BANK PANIC. Wild Rush of: Reared Depositors on the Boston Institutions--A Cincinnasi Concern Closes its Doors. BOSTON, March 15.-The run on the Boston five cent savings bank, begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded by a crowd to-day, and the excitecitement has been intense. The committee examining the securities state that after deducting all the depreciation which the assets, embracing stock, bonds, &c., have suffered, and allowing $157,000 with which to pay the interest falling due the first of April, the bank will still have a surplus of upward of $429,000. The uneasiness has spread to the Franklin bank in Boyleston street, one of the strongest savings institutions in the country. The managers of the Franklin have limited the amount paid to depositors on demand to twenty-flve dollars, and sixty days notice is required for all sums over that amount. This action reduces to three the number of banks in Boston paying in full on demand. An unusually large number of depositors in the Provident Institution for savings are partaking of the general scare, and applied for and obtained their money to-day, and the same is true of the Suffolk, although these banks are as far as known solvent to the last degree. SOUND BUT SUSPENDED. CINCINNATI, Ohio March 15.-The examiners appointed by Judge Burnett to investigate the affairs of the Cincinnati savings bank, which recently suspended, report to-day that the assets are $480,000 and the liabilities $437,000. The examiners declare that affairs in the bank have been prudently managed and that the security on hand for payment of obligations is more than ample.

7. March 16, 1878 The New York Herald New York, NY
Article from The New York Herald, March 16, 1878

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RUN ON SAVINGS BANKS. BOSTON, Mass., March 15, 1878. The run on the Boston Five Cent Savings Bank, which commenced yesterday, has developed to a general panic among savings bank depositors. School street, where the Five Cent Bank is located, bas been blockaded by a crowd to-day, and the excitement has been intense. The committee, which have been engaged in examining the securities of this bank for the past two weeks, state that the bank, after making all proper deductions, will still have a surplus of $429,000. The uneasiness has spread to the Franklin Bank in Boylston street, one of the strongest savings institutions in the country, the managers of which have applied the brakes in season to prevent the calamity which has overtaken some other banks. The amount paid to depositors on demand has been limited to $25, and sixty days' notice is required for all sums over that amount. An unusually large number of depositors in the Provident Institution for Savings, partaking of the general scare, applied for and obtained their money to-day, and the same is true of the Suffolk Bank, although these banks are, as tar as known, solvent to the last degree.

8. March 20, 1878 Ottumwa Weekly Courier Ottumwa, IA
Article from Ottumwa Weekly Courier, March 20, 1878

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DEPARTMENT COMPLETE WITH NEW TYPE ARD PRESSES. PRINTING OF ALL KINDS. From a Visiting Card to a Mammoth Poster ex ecuted in Good Style. Eastern prices and wrok daplicated. Run on a Bank-Polygamy. BOSTON, March 15.-A - run is now being made on the Five Cent Savings Bank, one of the largest savings banks in the State. State detectives at Tewksbury yesterday arrested a number of men on charge of living in open polygamy. An attempt is being made to establish a polygemous society at Tewke. bury. BOSTON, March 15.-The run on the Five Cent Savings Bank, begun yesterday, has developed into a general panic. School street, where the bank is located, has been blockaded by a crowd to-day and the excitement has been intense. The committee examining the securities, state that after deducting all depreciation, which the assets, embracing stock, bonds etc., have suffered, and allowing $167,000, with which to pay interest falling due the 1st of April, the bank will still have a surplus upwards of $400,000. The uneasiness has spread to the Franklin Bank in Boyleston street, one of the strongest savings institutions in the country. The managers of the Franklin have limited the amount to be paid to depositors on demand to twenty-five dollars, and sixty days notice is required for all sums over that amount. This action reduces to three the number of banks in Boston paying in full on demand. An unusually large number of depos. itors in provident institutions for savings are partaking of the general scare and have applied for and obtained their money to-day.

9. March 22, 1878 Vicksburg Weekly Herald Vicksburg, MS
Article from Vicksburg Weekly Herald, March 22, 1878

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BOSTON SAVINGS BANKS. A Run on One of these Institutions, and Uneasiness in Regard to Another. BORTON, March 15 -The ren on the Boston Five Cent Savings Bank, which commenced Tuesday, has developed into a general panic among savings bank depositors. School street, where the Five Cent Bank is located, hus been blockaded by a crowd to day, and the excitement has been intense. A committee which has been engaged in examiuing the securities of this bank the past two weeks, state that after deducting all depreciation assets, embracing stocks, bonds, etc., have suffered since the last statement of the bank was made, and allowing $167,000 with which to pay interest falling due on the 1st of April, the bank will still have a surplue of $429,000. The uneasiness spread to the Franklin bank, one of the strongest savings institutions in the country, the Managers of which have"applied the brakes in season to prevent the calamity which has overtaken other banks. The amount paid depositors on demand has been limited to $25, and sixty days notice is required for all sums over that amount.

10. March 23, 1878 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, March 23, 1878

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News of the Week. Boston. Counterfeit trade dollars are circulating in Canon Farrar calls Scotland the most drunken country in the world. A bill has been introduced in the Pennsyl vania House making cremation a crime. Tennessee's illicit distillers are reported to be officials. preparing for a battle with the revenue Henry Disston, the great saw manufacturer of Philadelphia, died of paralysis or Saturday evening last. Captain Crapo will shorten his dory six feet and eross the Atlantic again if somebody will guarantee him $5,000. Mr. Samuel W. Small ("Old Si,") of the Atlanta Constitution, will to Paris as member of Commissioner McCormick's staff. Dr. Edward Tallman, convicted of malpraetice, was sentenced at Poughkeepsie, on Sat urday, Sing. to four years' imprisonment at Sing Mr. Bayard Taylor, the new minister to Germany, his daughter and "Mark Twain' and family will sail for Europe on the 11th prox. Mining has been resumed by the principal companies in the coal regions. Ifthey could only resume the old prices they would be happy. Lynchburg, Va., has nearly one hundred tobacco factories in operation, giving not less than 5,000 persons constant and lucrative employment. A colored man, named Taylor, detected in attempting to commit felonious assault upon a little girl, at Pilot. Grove, Mo., on Sunday, was shot dead. The manufacturers of Fall River, Mass. voted on Saturday to reduce the wages of their operatives 15 per cent., commeneing on the 1st of April. Michael La Rose, "a notorious burglar,' was shot and seriously wounded while trying to break into a house at Charlesburg, near Quebec, early on Saturday morning. The wool hat manufactory of Bollman, Hendel & Co., at Adamstown, Pa., wasburned OR Saturday. Loss $25,000. Over 100 fire. men are thrown out of employment by this Our exports of animal products during February -bacon and hams, pork, pickled and fresh beef, lard, tallow, butter and $13,655,218. cheese-were valued in the aggregate, at The announcement is madethat Mr. Charles Stowe, a son of Harriet Beecher Stowe, is to marry next May Miss Laura Pratt, a daugh ter of the Collector of Newport, R. I. The Secretary of the Treasury last week purchased enough silver bullion to run the mints about five weeks. It is said the price paid for the bullion is less than was expected by the sellers. Thirty-three firemen were discharged from the Chicago fire department, recently, and eighty five policemen. Reductions in other departments will continue until the expenditures come within the resources. There are now seventy two postmistresses in the United States, one of whom, Miss Nina Hodges, in the Des Moines postoffice, is said to have handled and paid out four million dollars and cent has fallen short. The run on the Savings Banks in Boston continued on Saturday During Friday and Saturday the Five Cent Savings Bank paid out $180,000, the Provident Savings Institu about $160,000, and the Suffolk Bank $27, 000. The Franklin Bank enforced the sixty days rule. Hayti manages to keep pace with St. Do mingo in the revolution business. The arse nal and fort in Port au Prince are now in the hands of the insurgents, and are being bom barded by the navy, which remains loyal to the government, if there is anything there worth the name. Dates from Rio Janiero to the 22d of Feb ruary state that the yellow fever was quite severe there, fatalities among the shipping reaching twenty five to thirty daily. Strin gent quarantine regulations are being enforced. Other fevers prevail in the city, where the mortality averages fifty daily. Major Robert P. Archer, an Honorary Commissioner from Virginia to the Paris Exposition, died suddenly in Richmond, on Monday, at the age of 60. He exhibited a process of manufacturing tobacco at the Centennial Exhibition, and was perfecting arrangements to exhibit the same process in Paris. A Connecticut Yankee named Ritchel, is said to have solved the problem of serial lo comotion. He uses lindrical balloon that is propelled by fans that make 3,500 revolutions a minute, and in a closed room the machine seems to work. How it would an swer in an adverse gale, is a very different matter. St. Patrick's Day parades took place on Monday in Philadelphia, New York, Wash ington, San Francisco, Richmond, Va., Albany, Quebec, and various other cities. In Washington, the parade was unusually fine, and included two societies from Baltimore. In passing the White House the procession was reviewed by the President and Secretary Schurz. On Saturday, City Treasurer Kilgore, of Pittsburg, secured a brass band, seated the members in a huge wagon, and had the ve hicle conveyed through the streets by a team of six horses. The wagon was decorated with flags and banners, and on the sides was printed the announcement, "Pay your taxes before the 1st of April if you desire to save 10 per cent. A meeting of Cubans opposed to surrender to the Spanish Government was held in New York on Saturday. President Juan Arnao presided, and General Cespedes, Senor Aguil era and others made addresses urging the continuance of the struggle in Cuba, and sug gesting the fitting out of an expedition for that island. A committee of fifteen was ap pointed to select a revolutionary committee of five to look after the Cuban interest. The Louisiana Supreme Court on Monday rendered decision in the appeal case of Thomas C. Anderson for new trial, setting aside the verdict of the inferior court on the ground that the returns of Vernon parish were not susceptible of forgery, and ordering his discharge. This ends the prosecution of members of the Returning Board. The Su preme Court ordered the release of Ander son, but this has not been obeyed, the State having five days to ask for rehearing Joseph Lapage, the murderer of Josie Langmaid, young school girl, was hanged at Concord, N. H., on the 15th. He con fessed the deed, and also to the murder of Miss Ball, school teacher. Gus Johnson, the murderer of a colored ferryman, was hanged in Rome, Ga. Thursday The exe cution was public, and a large crowd was present. Johnson showed no sign of fear and ascended the scaffold with cigar in his mouth. He confessed to four murders. He died in seventeen minutes of strangulation. A singular affair recently occurred at Mad ison, Ind. A lot of little colored boys were playing court, and sentenced one of their number to be hung He was accordingly strung up by his heels to door knob and left there, while one of the executioners went down stairs and told his mother of the affair. She went up stairs and found the boy terrible condition, with blood gushing from his nose and mouth. He had lost his eye sight, and on the next day he died. William Hayward and Daniel Dwyer, con victs in the Massachusetts Penitentiary, at Boston, broke from the guards Sunday morn ing, while passing through the yard, ran to the third story of the workshop, and fastened the door behind them. They then ran along a plank projecting from a window The inner end of this plank being fastened under steam pipe it formed spring board. From this Hayward leaped up over the wall and alighted safely on the ground outside Dwy er missed his footing and fell to the ground, breaking a leg and receiving other injuries. Hayward was subsequently recaptured in Somerville. The steamers for Europe from New York, on Saturday last, were six in number, all with full cargoes. In some instances the

11. May 15, 1878 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, May 15, 1878

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The Financially-Sick List. CHESTER, PA., May 14.-T. W. Dempster, a prominent grocer, failed and absconded. CALAIS, ME., May 14.-A. H, Sawyer, lumber dealer, has suspended. Liabilities, ninety thousand dollars. SPRINGFIELD, Mass., May 14.-Ira B. Wright, for ten years town treasurer of South Hadly, appropriated twenty-five usand dollars of the town funds. He was a prominent church man. TOLEDO, May 14.-Zeller, the absconding bank cashier of Tiffin, Ohio, erroneously reported as having returned to that place in charge of a detective, is still in Canada, having refused to return until extradited. WHEELING, W. Va., May 14.-R. H. Sayre, late postmaster at New Martinsville, in this State, was arrested to-day on the charge of embezzlement in the money-order department of his office. He was admitted to bail. NEW YORK, May 14.-James Meagher, a builder, has been adjudicated a voluntary bankrupt. Liabilities, about four hundred thousand dollars, of which three hundred and eighty thousand dollars are secured. Nearly all the debts are for mortgage deficiencies. Assets, nominal. BOSTON, May 14.-The savings bank commissioners have restricted the Franklin bank to paying twenty per cent. to the depositors during the next six months, and twenty per cent. for the subsequent six months. The deposits amount to three million six hundred and seventy-nine thousand six hundred and thirty-four dollars. FALL RIVER, May 14.-The creditors of the Sagamore mills met yesterday and the financial report was read. The actual assets are five hundred and fifty-seven thousand nine hundred and thirteen dollars; liabilities appearing from the books, four hundred and fifty-two thousand three hundred and fiftytwo dollars; liabilities not appearing from the books, one hundred and sixty-eight thousand dollars. Bankruptcy proceedings will be immediately commenced. The operatives will be paid to-day. All interested favor putting the property into the hands of trustees, in the hope of paying dollar for dollar in a few years. James E. Anderson Still Swearing to the East Feliciana Count. PHILADELPHIA, May 14.-The following letter from Mr. James E. Anderson, now a resident of this city, to Representative Potter, explains itself: PHILADELPHIA, May 14, 1878. Hon. Clarkson N. Potter: The statement in the preamble to the resolution providing for an inquiry into the election of Louisiana, presented in the house by you yesterday, "that James E. Anderson, supervisor of registration of East Feliciana, falsely protested that the election in precincts in that parish had not been fair and free," is in point of fact not true. I am the person who made the returns of election for Presidential electors in 1876 for East Feliciana, and these returns and all papers connected therewith, made and directed by me, are true and strictly in accordance with the facts in the case. This I am abundantly able to show before any competent tribunal empowered to compel the attendance of witnesses and the production of papers. JAMES E. ANDERSON.