1.
December 22, 1899
Daily Kennebec Journal
Augusta, ME
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the those not connected with the that in- it tution expressed sincere regret storm. not been able to weather the succeedPresident H. H. Stevens. who abCharles H. Cole, some months ago, refused to say anything his regard- son. the comptroller': action. but comis a clerk in the bank. was dispaten taken aback when the that such shown him and intimated entirely unfrom Washington was had been for. Young Stevens hour and at the bank at a late entering interviewed just as he was makes his father's house where he Press He read The Associated doorstep. patch while standing on the seemed the aid of a street lamp, and compreaghast when he fully carried its meaning. He at once in bed. to his father, who was then with after a few minutes he returned reword that his father absolutely it. to say anything regarding interview, Stevens also denied an had been hough he admitted that books. he very late on the Receiver Wing at a late hour could hotels not be located at any of the large bankers the city. The few State street surprised were seen were all greatly affairs the outcome of the bank's close of all agreed that at the not the there was the less was the <<<<<<<<<<<<<<<<<<<<<<<<< a the of Saturday and the in finanoadway Bank had been taken and circles as one of reassurance opinion and it was the universal stocks had the flurry in copper Globe Bank, The closing of the everything coming when brighterefore, in a fair way of becoming and there seemed most discouraging that but few who did not intimate worse day norrow would be even a last however, Saturday. were of the Bank opinion had )thers, the failure of the Globe for. so far discounted and provided financiers, least among conservative effect upon it would have but little action stocks and that by concerted Clearing the strong backing of the stocks any future gale in local be weathered with comparative one of Nevertheless the failure-is since most startling and far-reaching Bank eight closing of the Maverick involves ago, and as it intimately stocks, value of Boston's pet copper anxiously outcome tomorrow, is is known that the bank in has fact been ever in some months. Cole. ficulty the Cole's the at the many that he was irement for " was known copper cominterested in the big Mining known as the United States H. Stevens, One of the directors. H. of presielected to fill the position everything and since then has done going un ssible to keep the bank from coupled The tight money market, stocks, howthe great decline in all and, last carried down the coppers, forced to call ursday, the bank was for assistance. Clearing House naturally hurthe communication. to the resa Clearing House came certificates to and the issued $3,500,000 in meet its inthe Globe Bank to Monday, to other banks. On firm otedness the failure of the brokerage company, but financed the mining and as the no other firm followed of sucgave no intimation in sitbeing reseemed in a the old wound will be be seen, opened but Vhether tomorrow, remains to will be made that every effort financial instithe known part of the strong Upon their sucavert a panic. broker depends to the status have of been many earrying houses Christmas which heavy blocks of copper A few of these houses have alattempted to protect filed against attachments have the United been States Minpromoters Charles H. Cole, late Coolidge president and the Co., Globe Bank, Wm. H. ward action H. Clark. of the comptroller the guaranty in wait"he a made <<<<<<<<<<<<<<<<<<<<<<<<< for the been bank very generous on as much as desire to assist agreed that imated and a it is generally last week. a bank had been closed. ensued which the panic would have carried down undombredly have (Continued on page 8.)
2.
December 22, 1899
Las Vegas Daily Optic
Las Vegas, NM
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Boston Stock Exchange. Boston, Mass., Dec. 22-The galleries of the stock exchange were crowded today when business began. The market was weak at opening. Trading was very animated and violent fluctuations in sugar were recorded. Cop-pers were a trifle weak. Montana dropping five but recovering half the loss almost immediately. The market showed good support. Receiver Wing and President R. H. Stevens, of the Globe bank, declined to say anything about the situation today. There was no unusual scene around the bank although the number of out of town customers who came to draw money for Christmas were considerably upset by the information that the bank had closed. The Na-tional Shawmut offered to advance today to all depositors of the Globe bank against their deposits 50 per cent of the net amount of same. The action of the National Shaw. mut bank had an excellent effect in all circles and within a short time after if became known that except for the feverish tendency of some transactions on the stock exchange the financial sections of the city were quiet as usual. It was learned in connection with the Globe bank case today that of the $3,500,000 advanced by the Boston clearing house to the bank last Saturday $200,000 had been repaid. The nominal market value of securi-ties given in the clearing house for the loan is $4,500,000.
3.
December 22, 1899
The Sun
New York, NY
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Two or three days ago the Clearing House of Boston advanced $3,500,000 to assist the Globe Bank in its difficulties, all but about $200.000 having been paid in cash before the close of business to-day. Something like $2,000,000 of this amountis in the bank's possession now in cash. The Clearing House declined to lend further assistance. Comptroller Dawes became satisfied to-day that the bank must. in any event. close its doors very soon. and it was seen that in order to protect all the depositors, the institution should be placed in the hands of a temporary receiver before certain creditors should withdraw their funds at the expense of less fortunate creditors or depositors. In the case of the Globe Bank, as in the case of many other banks in principal cities holding deposits large in proportion to the capital stock. the losses of depositors will be comparatively small and the losses of shareholders and directors will be comparatively large. A detailed statement of the bank's condition at the close of business yesterday is expected by Comptroller Dawes to-morrow. The decline in copper values, in which the Globe Bank has for a long time been largely interested. is responsible to a large extent for the disaster. but the more immediate causes were the closing of the Broadway Bank and the Squires failure.
4.
December 23, 1899
Daily Kennebec Journal
Augusta, ME
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BOSTON'S PANIC Did Not Materialize, Friday, as Was Expected. Globe Bank Closed, But Depositors Are Aided by Shawmut Bank. Situation Easier and Confidence Is Returning -Squire Creditors Meet. Boston, Dec. 22.-Another day of unrest in Boston's financial circles went by without incidents of a startling nature, and once more the public was shown how well supported the institutions of this city can be made by a concerted effort. The receivership for the Globe National Bank took nearly every banker and broker by surprise and before business in the money market began, forebodings were dire. But prophesying and fears were not realized, for the situation, tonight, was conservatively considered as good, if not slightly better, than at any time for o fi
5.
December 23, 1899
Daily Inter Mountain
Butte, MT
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CRISIS OVER AT BOSTON. Boston, Dec. 22.-Another day of unrest in Boston financial circles went by without incidents of a startling nature. Not a failure had been announced when the stock exchange closed this evening, and money seemed easy. When early would-be customers appeared at the Globe bank they found Receiver Wing in charge and the clerks at their accustomed places. There was no excitement for a time, but as business on the street grew to its height the bank was the center of attraction and many harsh words were said against it and the officials. In the market itself, the usual mirror of the ups and downs of finances, hardly a good sized ripple was created. Stocks went down, but Boston brokers maintained that quotations here followed New York. Coppers did not slump away as predicted, their weakness hardly touching the low priced ones and being on an average scarcely more noticeable than for weeks past. The Broadway National bank's affairs would have been lost sight of for the time being had not the creditors of the Squire company, the fortunes of which are mingled with those of the bank, met to outline their plans and to form a committee of action. Some demand for ready cash was made on the market here by a Portland savings bank, on
6.
December 24, 1899
The Saint Paul Globe
Saint Paul, MN
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criminal aspect through the arrest today in California of the bank's former president, Charles H Cole. The charge against Mr. Cole is the old one of overdrafts and bad loans, many of them to himself, and the action of Mr. Wing, receiver of the bank, ordering the arrest, while a shock to the friends of the former president, was not a surprise to those who have been watching the course of events and who were acquainted with the affairs of the bank. Rumor was current here late yesterday afternoon that such action would be taken, but for a while it was found impossible to locate Mr. Cole. Late last evening word was received here that he was on the Pacific coast, and this noon came the news of his arrest just outside of Los Angeles, where he had journeyed with his wife and son. A warrant was sworn out during the day in this city and dispatched to Los Angeles. In the meantime the brokers and business men in the city are congratulating themselves that the week is over and that the worst is probably known. DUE TO SPECULATION Just how the affairs of the Globe bank were allowed to reach such a stage is probably known-to few outside of the former president, but it is practically agreed that it was a gigantic speculation in ccpper stock, in which Mr. Cole was so much involved that the bank's money in credit was used until it was well nigh exhausted. The inevitable result followed, except that the closing of the bank was delayed for more than a month and during the last week was bolstered up by the clearing house, which paid its indebtedness to the extent of many millions. The fact that the bank was in difficulty, but kept open through the aid of the clearing house, enabled its depositors to withdraw their accounts, and a very large number did so during the early part of the week, but the city of Boston, which, through Mr. Cole's influence when sinking fund commissioner, had placed nearly $400,000 in the bank, failed to take the hint, with the result that that amount will be tied up for some time to come Notwithstanding the heavy loans, it is generally believed the depositors will be paid in full or nearly so, and it will be the stockholders- and directors who wih suffer. Unfortunately a large number of savings banks are holders of Globe stock,
7.
December 24, 1899
The Seattle Post-Intelligencer
Seattle, WA
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bank's former president, Mr. Charles H. Cole. The charge against Mr. Cole is the old one of overdrafts and overloans made to himself. The action of Mr. Wing, the receiver of the bank, in ordering the arrest, while a shock to the friends of the former president, was not a surprise to those who have been watching the course of events, and who were acquainted with the affairs of the bank. A rumor was current here late yesterday afternoon that such action would be taken, but for a while It was found impossible to locate Mr. Cole. Late last evening word was received here that he was on the Pacific coast, and this morning came news of his arrest just outside of Los Angeles, where he had journeyed with his wife and son. A warrant was sworn out during the day in this city, and dispatched tonight to Los Angeles. Speculating in Copper the Cause. In the meantime the brokers and business men in the city are congratulating themselves that the week is over and that the worst probably is known. Just how the affairs in the Globe bank were allowed to reach such a stage is probably known to few outside the former president, but it is practically agreed that it was a gigantic speculation in copper stocks, in which Mr. Cole became so much involved that the bank's money and credit was used until it was well nigh exhausted. The inevitable result followed, except that the closing of the bank was delayed for more than a month, and during the last week was bolstered by the clearing house, which paid its indebtedness to the extent of many millions. The fact that the bank was in difficulty but yet kept open through the aid of the clearing house enabled its depositors to withdraw their accounts, and a very large number did so during the early part of the week, but the city of Boston, which through Mr. Cole's influence when sinking fund commissioner had placed nearly $400,000 in the bank, failed to take it out, with the result that the amount will be tied up for some time to come. Depositors Will Be Paid. Notwithstanding the heavy overloans, It is generally believed the depositors will be paid in full or nearly so. Unfortunately a large number of savings banks are holders of the Globe's stock, so that the loss will have to be made good by these institutions. While the Globe bank will probably never open its doors again, there seems to be every prospect that the Broadway bank will soon be on its feet again.
8.
December 25, 1899
The Age-Herald
Birmingham, AL
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Officials Sanguine Boston, Mass., December 24.-An official of the Globe bank, when shown Receiver Wing's statement tonight, said: "Matters are progressing smoothly with us, and I think we shall open our doors again next week. A new board of directors will be appointed, and the former stockholders have given options on their stock."
9.
December 26, 1899
Las Vegas Daily Optic
Las Vegas, NM
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Telegrams Condensed Up to this afternoon twenty bodies had been recovered from the mine at Brownsville, Pa. The cabinet today decided to send Spanish prisoners home from Philippines at United States' expense. W. Scarborough under sentence of death in the Philippines was commuted by President McKinley to dishonorable discharge and imprisonment for twenty years. As a result of Globe bank failure in Boston, Lovell Arms Co. assigned to day. Stories of an organized effort by Fenians to raid Canada are given out by press. Not credited by government. Thought to be of Canadian origin in order to frighten Canadians in keeping soldiers at home.
10.
December 26, 1899
The Worcester Spy
Worcester, MA
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Broadway National Bank Has One More Week in Which to Adjust Its Affairs HEROIC EFFORTS MADE IN ITS BEHALF Examiner Wing's Statement Throws Much Light on Globe Bank Transactions Boston, Dec. 25.-There were but few developments in the banking situation today, although Receiver Wing, who is in charge of both the closed institutions, the Globe and the Broadway National banks, did not pause in his work of readjusting the tangled affairs. Late in the day he received word from Comptroller Dawes in Washington, that the time limit for the reopening of the Broadway bank, which expires tomorrow night, be extended for one week. This was good news to those who have been working assiduously toward getting the institution on its feet, and particularly Cashier Curtiss, whose endeavors have earned for him a high place in the business world. Notwithstanding numerous published interviews with prominent bankers and brokers as to the cause of the recent troubles, the general public have been much in the dark until Receiver Wing's long statement, issued last night, which has in a great measure thrown light on many of the transactions in the Globe bank. Further information is looked for when ex-President Cole arrives from California and tells his side of the story, probably in the federal courts. In the meantime dealings in copper stocks on the exchange will be watched with interest and their future course will probably have considerable to do with the closing up of the affairs of the Globe bank.
11.
December 29, 1899
El Paso Daily Herald
El Paso, TX
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BUSINESS CONDITIONS. It is gratifying to learn from the east that the fears expressed in some circles that the decline in stocks would have an unfavorable effect upon trade had no real foundation in the face of the constantly increasing earning power, advances in wages and the approach of the largest interest and dividend disbursements on record. The general busi. ness of the country, indeed, gives no evidence of retrogression, as the recent excitement has been purely a money panic. Now that the smoke has passed away it is shown that the trust company that failed in New York failed because it had made a bad speculation. The Globe bank, of Boston, was not a victim of financial stringency. It failed because its president was speculating in copper shares, the favorite dissipation of Boston speculators. As long as people had nothing else to do with their money they let him have it; the increasing business activity, which has diffused over the whole country the money for a time accumulated in the centres, has called these speculators down. Such failures, therefore, instead of indicating business distress, are logically associated with general business prosperity. Paradoxical as it may seem, the flurry was the result of good times rather than bad times. "The worst day in Wall street for many years," as R. G. Dun & Co. say in their latest weekly review of trade, "was in part the legitimate result of the best year in business ever known, because the country had prospered greatly and had so expanded its business that it could no longer afford to have many millions locked up in carrying stocks representing imaginary values." For this reason the so-called "industrials" are not in favor, and in many cases those who hold them are anxious to realize upon them in order that they may have the money to invest in active business enterprises. These conditions brought about, on the one hand, a disinclination to invest in this class of securities, and on the The inother a desire to sell them. evitable result'of this combination was a slump in the pricesof these securities, and the "pinching" of some who were "long" on the same. The old year could not go out nor the new year dawn under happier conditions. The volume of business is in excess of all previous records. At no time has production been greater or the purchasing power based upon earnings larger, and the general demand for merchandise thus continues active
12.
January 6, 1900
The Dickinson Press
Dickinson, ND
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THE bank suspensions in Boston, following and accompanying a period of "tight money," have made the past week an anxious one in business and financial circles. In these days, all the world is one in matters of finance, and a disaster to British arms in South Africa, with a consequent drop in consols, is felt in all the markets of the world; but the Boston bank suspensions would have come to pass, very likely, if there had been no ultimatum and no war. They represent the in evitable backward swing which follows excessive speculation. In the case of the Globe bank, at least they are symptomatic not of unsound business conditions so much as of unsound financiering. It is the old story of 'Napoleonic" finance, which makes fortunes in a day and loses them as quickly. -Boston Journal of Education.
13.
January 14, 1900
Wheeling Sunday Register
Wheeling, WV
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Wing; "I don't seem to recall any such credit at the Globe in favor of this bank." A return visit was made to the Globe and another examination made, when, sad to relate, instead of the small matter of $250,000, over $600,000 was found to be standing against the credit of the bank which was not charged in the accounts. Thus a mere accident aided and abetted the further downfall of the air castles of the "Three C.'s." This disclosure forced the resignation of Mr. Cole from the presidency of the Globe bank, and another straw was added to the already overloaded back of the poor camel. Things went from Ibad to worse, all under the surface, however, and finally, to avert a general panic in State street, the Clearing House was forced to come to the aid of the Globe Bank. Its president went away, but was ever present in the memory of those who had become involved in his misdirected schemes of financing. Soon it was discovered that the Globe Bank situation was even worse than had at first appeared. It closed its doors, by order of the comptroller of the currency, and a warrant chaging its late president with serious misdemeanors was issued for his arrest. He was traced to Los Angeles, Calif., where he had sought to evade the press of creditors and inquisitive reporters. He willingly acquiesced to the requests of the officers of the law and was brought back to Boston to stand trial. Thus came the financial death of Charles A. Cole, a demise that also took away his friends and co-laborers, William H. Coolidge and Edward A. Clark. These are the men who six months ago were worth more than $1,500,000 each. To-day they are practically bankrupt; their fortunes have returned from whence they came; their securities lie upon the bargain counter of the stock exchange, and the airy castles which they builded in their brief days of power and success have been dissipated in the chilling mists of adversity. Worse than all this is the sad train of trouble and loss it has entailed upon others who were in no sense partners in the ambitious enterprises of the triumvirate. Not to speak of the many personal friends and relatives of the three central figures who have felt constrained to help them bear their financial burdens, at least two brokerage firms have been seriously crippled because of their business relations with the ex-magnates. This and the serious disturbance of the local speculative centre as a whole served to make the ending of the year 1899 an exceedingly gloomy one for State street, Boston's financial centre. The episode has never had a parallel here, for not even the Maverick bank failure, about eight years ago, had such far-reaching consequences in financial Boston as has the downfall of the "Three Cs." And now a brief sketch of these three men, after which a more detailed account of their financial operations, their organizations and re-organizations of different mining concerns. The "Three Cs" were, as previously stated, Charles A. Cole, who is a banker; William H. Coolidge, a lawyer, and Edward A. Clark, a gentleman of wealth and leisure. Just now this famous trio happened to drift into such close business relations leading to such momentous consequences could probably not be satis-
14.
January 19, 1900
Little Falls Herald
Little Falls, MN
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BOSTON BANK SWINDLES. How McKinley's Controller Handled Them. Boston Correspondence Springfield Republican: The, course of events in the Globe bank failure has this week absorbed attention beyond all other topics: the case of the Broadway bank is very. trifling in comparison. But here was a bank run for months in the interest of stock-gamblers; when its fraudulent condition became known to that smart McKinley politician, young Dawes, who is controller of the treasury, and has for duty to guard the public and stockholders of national banks against just such failures as we now see-he put the evidence in his pocket, hushed the matter up, and here is the result. Had the rascally facts come out in September, when Dawes knew the bank might have gone under, as it has now, but the whole finanical situation would not have been imperiled-and the city of Boston certainly would not now have almost half a million of its public funds tied up in a broken bank. Moreover, the stockholders would have had some chance to save themselves from the loss that now seems certain. When the suspension occurred, pains were taken. by false representations. to show that things were not very bad and the clearinhouse, which boggled about issuing certificates for a few hundred thousand dollars to the Broadwav bank -really unlucky more than rascally -rushed to the rescue of the copper gam olers' bank with $3,500,000 in certicates-and of no avail It is a chapter in the finanical story of Boston and of Washington that ill not soon be forgotten by the sufferers; and itexposes once more. as so often before, the sham morality of the bankers and brokers here. who in 1896, had no terms but such as are due to pick-pockets, for the bonest advocates of currency inflation by means of silver. I have never been one of those advocates; never gave in to the free silver delusionbut no more did I. to the artificial morality and manufactured scare got up by the McKinleyites in that panicky and corrupting campaign. While the Globe bank figures are under investigation. I wish we we could be told how much of its stockholders' money went into Hanna's campaign fund; for most of the Boston banks were then assessed to aid in electing the Ohio president who is now pulling very wire to get himself re-elected. And I fancy it will be found that the gamblers and swindlers who have brought this strange panic upon us-this etarvation of money in the midst oi plenty-were active and shouting denouncers of the "silver mine owners" and the awful doctrines of Bryan and his followers, who the gentle Wolcott called pirates. Is a silver mine fraud, then, so much worse than a copper mine fraud? The success of Mr. Bryan could not have given us half SO swift an inflation of the currency as the outpour of gold has produced, nor led to a tithe of the gambling and fraud which is now coming to light among the virtuous McKinleyites of 1896. So widespread has been the interest manifested in The Chicago Chronicle's
15.
February 26, 1900
Barre Evening Telegram
Barre, VT
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SIMPSON & CO. Large Boston Firm Assign as Result of Globe Bank Failure. Boston, Feb. 26.-The firm of Simpson & Co., glovers and hatters, assigned today as a result of the failure of the Globe bank. The firm operated three stores and has been in business for 28 years. No statement has yet been made.
16.
March 1, 1900
Burlington Weekly Free Press
Burlington, VT
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YORK 10 New 01 Pentecost objects O. legal suppression of plays, gambling resorts and saloons-Mrs. Nellie Grant Sartoris now convalescing g: no sin S of cancer about her-Fish Fish curing i. dustry of Jeffries point, Boston, likely to be swept away by proposed improvements -Trappist fathers to establish a branch in Cumberland. R. I--Republicans all at sea regarding Puerto Rico: conference had not agreed up to midnight upon a substitute ---- Frank O'Rourke of Boston, a teamster. dies after drinking a quart of whisky on a wager-Five members of one family killed on a railroad crossing near Rochester. N. Y. TUESDAY. FEB. 27. Cronje still holds out, while Boers are gathering for defense of Bloemfontein: Buller reports a long list of casualties -Fourteen wrecks reported among the outlying islands of the Shetland group -Three men badly hurt by explosion in fireworks factory at Newton, Mass -Milton Rathburn of New York breaks his fast after 35 days-Four Worcester oarsmen to row as a crew at the Paris exposition--Oyster trust claims control of fishing grounds of four states-Property valued at $8,000,000 disposed of by the will of the late P. D. Armour. Jr., of Chieago-Court of claims allows only one-half the amount asked by Dewey and his men---Steamers Adula and Panama. seized by American warships. declared lawful prizes by United States supreme court-Passengers of stranded Allan line steamer Californian taken off and landed at Portland-Co-educational trouble at Wesleyan university revived --Simpson & Co., glovers and hatters. Boston. assign. as a result of the Globe bank suspension-Four men killed by breaking of a carriage in a Pennsy Pennsylvania mine-Wachusett Boat club of Worcester, Mass., will send a four to the Paris regatta-Receiver for the United States Milling company, otherwise known as the flour trust, appointed by United States court in Milwaukee Attorney General Griggs said to be slated for a place on the supreme court bench—The president and cabinet are unanimous in supporting the HayPauncefote treaty-United States supreme court denies application of Cap. tain Carter to bring his case before that court—-Mexican forces lose 30 in an allday battle with the Yaquis--Theatre Francais at Montreal and nearly the theentire block burned: loss, $100,000--Report that Herbert von Bismarck may succeed Hohonlohe as imperial chancellor-Russia victorious in contest for power in Persia: England's power considered at an end-Four thousand Chinese gather to prevent the construction of railroad by Germans. WEDNESDAY. FEB. 28. Cronje and his 4000 men surrender and are now prisoners of Roberts' army; Boers trying desperately to outflank the Ladysmith relief column: heavy fighting continues: Buller reports heavy losses-Secretary Secretary Root urges a favorable report on bill to increase efficiency of the army-United States will not give up Cagayan, Sulu and Sibutu islands of Philippine igroup-Captain Taylor to succeed Captain Miller in command of receiving ship VermontEducators and librarians urge pass ge 1 by CO gless of bill giving cheaper postal rates on ublic library books-Fire causes $1,000,000 loss in Newark. N. J-United States court decree holds that the Vermon mileage law is unconstitutional-Cashien of R. D. & Robert E. Spencer company of Thompsonville, Conn., arrested on charge of forg Orono (Me.) youth who placed obstructions on M: ne Central tracks sent to state prison for 10 ayears-Dartmouth Dartmouth 1 medical school graduates a class of 27 young doctors-Control Control of the Erie Telegraph and Telephone company secured cur by th rivals of the Bell company -Seventeen-year-old boy indicted at T Bridgeport. Conn.. for murder American Newspaper Publishers' asU sociation an oints an arbitration com-
17.
March 7, 1900
St. Johnsbury Caledonian
Saint Johnsbury, VT
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Old Concern Forced to the Wall. Lowell, Mass., March 6.-The Howe Lumber company, founded 35 years ago, has assigned, as a result of the failure of the Globe bank of Boston, to which the company owed a large amount of money. The exact assets and liabilities are not yet known.
18.
July 24, 1900
Daily Inter Mountain
Butte, MT
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# BUTTE CITY WATER COMPANY.
Boston News Bureau: Judge Brown of the United States district court has authorized Receiver Wing of the Globe Bank to deposit securities of the Butte City Water Co., valued at $70,000, with the Massachusetts Loan & Trust Co., and to accept the terms of the reorganization plan.
He further authorizes the receiver on the completion of the reorganization plan to receive in place of the stock which he surrenders the new stock and bonds, the cash which has to be paid under the re-organization plan for the coupon scrip is now in the hands of the receiver, and a syndicate has been formed to carry out the reorganization scheme.
The receiver holds now $47,000 first mortgage bonds of $1,000 each, $10,000 bonds of $1,000 each and another $10,000 of the bonds as collateral security for a loan to one A. M. Whitney, and $3,270 in scrip, par value.