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Financial News, BALTIMORE, March 9.-A receiver was appointed yesterday for the Lexington Savings bank, of Baltimore. The suit is brought by two stockholders and credifors of the bank. It was alleged that Everett J. Waring,president and cashier of the bank, has left the city, and his wherebouts are unknown.
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SMALL BANK CLOSED. The President and Cashier Is Alleged to Have Disappeared. BALTIMORE, March 8.-Circuit Judge Stockbridge to-day appointed James E. Tippett receiver for the Lexington Savings Bank of Baltimore, No. 341 North Eutaw street. The suit is brought by Messrs. Frank Osinger and Joseph H. Pentz, stockholders and creditors of the band. It is alleged that Everett J. Waring, president and cashier, has left the city and his whereabouts are unknown, and that the bank has suspended business, refused to pay its creditors and closed its doors. A crowd of depositors surrounded the bank this morning. They are all laboring negroes and were greatly disappointed when thy found they could not get their money. They have been attowed to deposit from twenty-five cents up, and there are about 500 of them. None of the deposits are large, but they represent the all of the industrious negroes. The bank is a small one.
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NEWS OF THE DAY. Cardinal Gibbons arrived in Wheeling W. V., yesterday and was accorded a most hearty and enthusiastic reception. The interstate commerce commission yesterday decided that no disturbance of rates will justify violation of the long-and-short-haul clause without an order from the commission. In Minnesota, North and South Dakota it has snowed every day this month. Sunday's storm was the greatest in weeks. Railroad trains are tied up in every direction, and many of the small branch lines are abandoned. At the Charleston, W. Va., election yesterday the democrats elected the entire ticket with the exception of two councilmen by majorities ranging from 26 to 170. The citv gave a republican majority of about 200 at the November election. The Lexington Savings Bank, a colored corporation of Baltimore, yesterday went in the hands of a receiver because of the unaccountable absence of Everett J. Waring, its president and cashier. James E. Tippett was the receiver appointed, his bond being for $10,000. Capt. Theodore A. Bingham, at present on duty with the batallion of engineers stationed at Willet's Point, N.Y., has been detailed by Secretary of War Alger to report to Gen, J. M. Wilson for assignment to duty in charge of public buildings and grounds of the District of Columbia. Report of the treasurer of the Preachers' Aid Society was made to the Baltimore Annual Conference in Baltimore yesterday showing a deficiency of over $31,000 by the defalcation of the late Richard Cornelius. Adoption of the arbitration treaty was urged and the anuual memorial service of the body was held. In the North Carolina House of Delegates yesterday the amendments and substitutes for the bill to repeal the lease of the North Carolina Railway were tabled, thus disposing of the matter for this session. Both sides claim to be satisfied, but the practical result is that for the present the ninety-nine years' lease to the Southern stands. The recent announcement by Secretary of the Treasury Gage that he intends to run his office just as he did his bank-on business and civil service principles, was good news to the thousands of clerks in the Treasury Department, but fell like a wet blanket on the practical politicians, the fellows who are out for the spoils. It is said that he may ask the president to name competent clerks as assistant secretaries. Secretary of the Interior Bliss has announced that he will make changes in the department only where necessary. Competent men will be retained as far as possible.
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demand for carpets. In regard to the shut down the officials state that the pending tariff legislation makes it unwise to store carpets at present. The curtailment of production will affect 2,500 employes, while it will keep the market well in hand. Repairs will also be made in the interval. STRATS ON FULL TIME. Oakland, Me., March 8.-The Oakland wool mill began running on full time this morning. It employes 250 operatives and has been running on short time for several months. BUSINESS FAILURES. Charleston, W. Va., March 8.-Jelenke Bros. & Loeb, the largest department store in the state, wholesale and retail, assigned this morning. Assets large and liabilities $75,000. POOR NEGROES CAUGHT. Baltimore, Md., March 8.-A receiver was appointed today for the Lexington Savings bank of Baltimore. The suit is brought by two stockholders and creditors of the bank. It is alleged that Everett J. Warring, president and cashier, has left the city and his whereabouts are unknown. The bank closed its doors this morning. A crowd of depositors Burrounded the bank all day. They are laboring negroes and were greatly disappointed when they found that they could not get their money. They have been ailowed to deposit from 25 cents up, and there are about 500 of them. None of the deposits are large. RECEIVER APPOINTED. Cincinnati, Ohio, March 8.-Herman Brockman was this afternoon appointed receiver of the Consolidated Building and Savings company. The liabilities are $230,000; assets, $175,000. The failure atfects almost all the employes of the Consolidated Street Ralway company, 88 well as others. The concern lost $40,000 on real estate loans and other unproductive Investments. It was incorporated in 1885 with a capital of $600,000. There were 5,212 shares subscribed of from $100 to $500 each, but the weekly receipts had fallen to $750. About half the shareholders had asked for withdrawals and had ceased weekly payments. The directors asked for a receiver. INSOLVENT BANK DIVIDENDS. 3 Washington, March 8.-The comptroller of the currency has declared dividends in favor of the creditors of insol7 vent national banks as follows: Ten / per centy the Marine National bank of t Duluth, Minn; 10 per cent, the American
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Business Embarrassments. LOUISVILLE, Ky., March 9.-The Germania Safety Vault and Trust Company made an assignment this afternoon to the Columbia Finance and Trust Company. No schedule of assets and liabilities was filed. The Germania Company went into the hands of a receiver when the German National Bank collapsed, J. H. McKnight being president of both institutions. It was reorganized but was unable to do a paying business. BALTIMORE, March 9.-The safe of the Lexington Savings Bank, a colored people's institution, was opened this afternoon and found to contain $28.72. Net liabilities are about $16,000, $7,800 being due the depositors, who number about 700. The deposits are all small, the largest being $600. Nothing is known of the whereabouts of the colored lawyer, Everett J. Waring, who was president and cashier of the concern. CANTON, O,, March 9.-C. C. Snyder, one of the older business men of the city, engaged in the hardware trade, assigned this morning. Slow collections and general der pression are the cause assigned. The assets are estimated at $60,000; liabilities not estimated. Charles S. Harrison, of Mansfield, O., a nephew, was nominated assignee.
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FAILURES. Cincinnati Loan Company and Baltimore Savings Bank Closes, Cincinnati, March 10.-Herman Brockmann was this afternoon appointed receiver of the Consolidated Building and Savings company. Liabilities $620,000; assets $175,000. The failure effects almost all the employes of the Consolidated Street Railway as well as others. The concern lost $40,000 on real estate loans and had other unproductive investments. It was incorporated in 1885 with a capital of $600,000. There were 5,212 shares subscribed of from $100 to $1,500 each but the weekly receipts had fallen to $750. About half the share-holders had asked for withdrawals and had ceased weekly payments. The directors asked for a receiver. Baltimore, March 10.-A receiver was appointed today for the Lexington Savings bank, of Baltimore. The suit is brought by two stock holders and creditors of the bank. It is alleged that Everett J. Warring, president and cashier, has left the city and his whereabouts are unknown. The bank closed this morning. Depositors surrounded the bank all day. They are colored laborers and they were greatly disappointed when they found they could not get their money. None of the deposits are large. Canton, O., March 10.-C. C. Snyder, one of the oldest business men in this city engaged in the hardware business assigned this morning. Slow collections and general depression are the causes assigned. Assets are estimated at $60,000; liabilities are not estimated. Charles S. Harrison of Mansfield, O., a nephew was nominated assignee.
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NT report reached Colon Monday leath in Panama of ex- Vice Presi Ezeta. cretary Long has retained Private etary Louis Harvey Finney. d Mr. Herbert in the same capacity cretary of the Interior Blies has d as his private secretary Price , who acted in that capacity fo Francis. e Senate, in executive session day confirmed the nomination r A. James to be pension agent oit, Mich. akle Bros. & Loab, owners of department store in Charleston Va., failed Monday. Assets lities about $100,000. e General Arbitration Treaty n the United States and Grea in was Monday sent back to to foreign committee. cien Loeser. since 1873 chief record department of the New York om House, but prior to that in ed States army. is dead. bill was introduced in the y Legislature Monday providing the organization of the Delaware Oyster Tongers' Association. Greenwich, Conn., dispatch Andrew Carnegie, who has ned to his bed by an attack risy for about a week, is improving A is Norling shot and fatally wounded vife and killed himself in Kansas on Monday. Norling was drunl had been quarrelling with "OB is stated that one of the principa gn missions will go to Penn nia. The names of ex-Senato eron and Charlemague Tower tioned. e Governor of Oregon on Saturday inted the Hon. H. W. Corbett United States Senate to succee tor Mitchell. Mr. Corbett tor from Oregon from 1866 to 1872 0 Brazilian troops in Babin red a serious defeat at the hand he funaties. The Federal ier, Uol. Clesar, was killed, and , quantity of arms and ammunition captured. e new Attorney-General of ed States, Judge McKenna, ally presented to the Justices Supreme Court in Washington day, by his predecessor in office Harmon. receiver wasappointed in St. Loui Saturday for the People's vay of that city, and a receiver d for the Fourth Street & Arsena vay. The two corporations tically identical. receiver was appointed in Balti , Monday for the Lexington Bank, a colored institution of It is alleged that Everett 10 cashier and president ing.
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More Prosperity (?) Compiled from the New York Sun, Philadelphia Ledger, Baltimore Sun, Baltimore American, Baltimore Evening News, and Associated Press Dispatches. The Singer Lumber and Manufacturing Company of Huntington, West Virginia, have failed for over $200,000. A notice was posted on Saturday at the National Tube Works, McKeesport, Pa., announcing an average reduction of wages of ten per cent. Every department was included in the reduction, affecting 3000 men. The workers accepted the cut. A receiver was appointed in St. Louis on Saturday for the People's Street Railway of that city, and a receiver was asked for the Fourth Street and Arsenal Railway. An Ishpeming, Michigan, despatch says that 200 families of the striking miners at Norway are on the verge of starvation. An Amesbury, Massachusetts, despatch on Saturday, says that notices have been posted in all the mills of the Hamilton corporation that the mills will shut down all next week, but will resume the week following. This is in accordance with the plan for curtailment at Fall River. The shut down will cause about 900 employes to be idle. Henry Wietheger, Yeast Manufacturer, Baltimore, Md., is in trouble. Sinepuxent Bay Company, of Baltimore, Md., and Washington, D. C., has been placed in the hands of a receiver. The Lexington Savings Bank, of Baltimore, Md., a colored institution, has closed. Perkins Square Building Association, Baltimore, Md., is short $40,000, and Mark B. Ambler and John F. Jones, late secretary and treasurer, respectively, are on trial in the Criminal Court on the charge of conspiring to defraud the association. A receiver was appointed in Cincinnati, Ohio, Monday, for the Consolidated Building and Savings Company. The shareholders are mostly employes of the Cincinnati Street Railway Company. The liabilities are placed at $230,000, and assets at $175,000. Jenkle Bros. & Loeb, owners of a large department store in Charleston, West Virginia, have failed. About 200 operatives of John & James Dobson's Falls of Schuylkill blanket and cloth mills went on strike because of a reduction of 7 per cent. in wages. C. C. Snider one of the oldest business men of Canton, Ohio, engaged in the hardware trade, assigned on Tuesday. Slow collections and general depression are the causes assigned. The assets are estimated at $60,000; liabilities not estimated. The Germania Safety Vault and Trust Company, of Louisville, Kentucky, have assigned. The last statement placed the assets and liabilities at $271,136 each. It is thought that stockholders will realize 50 cents on the dollar. The condition of the dockers' strike at Luddington, Mich., is more aggravated. Manager Crapo, of the Flint and Pere Marquette Railway, will not discharge non-union men. The strikers offered to work for 18 cents per hour. Over 1,300 men have been brought here, and 1,100 have gone away again. The new hands are cut down to 10 cents per hour. The big Derby Cotton Mill, at Shelton, Conn., at which 27 weavers recently struck, has been permanently closed by Robert Adams, the owner. Mr. Adams ordered all unfinished work shipped to his Paterson (N. J.) mills. Two hundred hands are thrown out of employment. All of the factories of the Peck, Stowe & Wilcox Company, manufacturing edge tools and general hardware, at Southington, Conn., have shut down indefinitely. This throws out of employment a large number of hands, who for the past six months have been working on a short schedule.
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MINOR NEWS ITEMS. For the Week Ending March 10. The Lexington savings bank of Baltimore elosed its doors. The Consolidated Building & Saving company In Cincinnati failed for $230,000. The legislature of Indiana adjourned sine die, after having been in session 61 days. Anderson & Co.'s private bank at Pleasant Plains, III., was gutted by burglars. Jelenke Bros. & Loeb, the largest department store in Charleston, W. Va., failed for $100,000. The will of the late Cornelia V. R. Thayer, of Laneaster, Miss., bequeaths $200,000 to charity. The Park theater, the popular-price playhouse in Indianapolis, was burned, the loss being $100,000. Clara Rawson Jaccard died of starvation in New York. In two months she would have inherited $21,000. President McKinley's first official act was to sign the commission of John Sherman as secretary of state. The South Ottumwa (la.) bank, a small private institution, closed its doors with liabilities of $17,000. The entire village of West Boylston, Mass., is to be destroyed to make way for new waterworks for Boston. The German-American bank at Tonawanda, N. Y., which suspended about ten days ago, has resumed business. John M. Dandy, one of Chieago's oldest newspaper men, died of pneumonia in Los Angeles, Cal., aged 44 years. Robert G. Blaine, a brother of the late James G. Blaine, died at his residence in Washington, aged 65 years. At Louisville, Ky., the Germania Safeby Vault & Trust company made an assignment with liabilities of $271,000. One of the bunkhouses at the Daly mines near Park City, Utah, was swept away by an avalanche and four men were killed. A block of business buildings was burned at Worcester, Mass., the loss being $400,000, and eight firemen were badly injured. The Missouri legislature has passed a bill which prohibits bookmaking and poolselling, except by a license from the state auditor. A family by the name of Wilson was drowned in Richland creek near Washington, Ind., while trying to escape from a flooded house. J. Walter Blandford, who has been private secretary to Secretary Olney, has been selected to act in a similar capacity to Attorney-General McKenna. A dispatch from Rio Janeiro says that an outbreak occurred in Babia in which a colonel, 200 soldiers and three civil officials were killed by a band of fanatics. It is said that the amount of money involved in the inaccuracies of the books of the Brotherhood of Locomotive Firemen while Eugene V. Debs was grand secretary and treasurer is $57,000.
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A BUSTED CONCERN. | Has Nohting in its Vaults But Promissory Notes. Special Wire to Sunday Light. Baltimore, Md., March 13.-Receiver Tippett has succeeded in opening the safes in the Lexington Savings bank. Twenty-eight dollars and seventy-two cents, and a large bundle of promissory notes were all that was found. The total liabilities of the concern is $20,700. Of this sum $7,800 is due depositors, of whom there are seven hundred; $7,000 is due other banks, and $4,900 should represent the paidup capital stock. Against this there is on deposit in another bank $3,500. President-cashier Everett J. Waring. the colored lawyer, has not been heard from since he disappeared last Friday.
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OMESTIC. The Lexington savings bank of Ba timore closed its doors. Mr. Cannon, of Illinois, chairman the appropriations committee of tl house, says the appropriations of tl Fifty-fourth congress amounted to $ 043,437,018, which is $49,797,812 mo than the appropriations for the prece ing congress. Jelenke Bros. & Loeb, the largest d partment store in Charleston, W. Va failed for $100,000. The German American bank at Ton wanda, N. Y., which suspended abo ten days ago, has resumed business. The entire village of West Boylsto Mass., is to be destroyed to make wa for new waterworks for Boston. Clara Rawson Jaccard died of starv tion in New York. In two months sl would have inherited $21,000. In Philadelphia Capt. John D. Ha was sentenced to two years in priso and to pay a fine of $500 for taking pa in a filibustering expedition against tl Spanish government in Cuba. It is said that the amount of mone involved in the inaccuracies of the bool of the Brotherhood of Locomotive Fir men while Eugene V. Debs was gran secretary and treasurer is $57,000. The first formal meeting of Preside McKinley's cabinet was held and affai of state were considered, including tl president's message to congress. Leslie Combs, the most noted moo shiner in Kentucky was found dea near Hazard with his throat cut. He said to have killed 50 men. A train struck Orlando Howe an two sons on a trestle near Oliphan Ark., instantly killing Howe and one so and fatally wounding the other boy. A Louisville & Nashville north-bour mail train was held up by six maske men near Calero, Ark., and the € press car was robbed of $10,000. Anderson & Co.'s private bank Pleasant Plains, Ill., was gutted by bu glars. Three persons were killed and or other fatally wounded by a fire in apartment building in Brooklyn, N. The first official order issued by Se retary Wilson, of the department of a riculture, concerns the exportation beef to foreign countries and provid for assurance to foreign purchasers th they receive just what they buy. The will of the late Cornelia V. Thayer, of Lancaster, Mass., bequeat $200,000 to charity. The Youngstown (0.) council pass a curfew ordinance, and at nine o'clo mightly fire-alarm whistles will be blow to warn boys and girls 14 years old ai less to go home. A family by the name of Wilson W drowned in Richland creek near Was ington, Ind., while trying to esca from a flooded house. Damages by a freshet in the vicini of Bedford, Ind., will reach $2,000,00 all the county roads having been wash out and swept away and farm lan truined. At Louisville, Ky., the Germania Saf ty Vault & Trust company made an a signment with liabilities of $271,000. The one hundred and thirteenth se sion of the "Mother" conference Methodism in America came to an en in Baltimore. The great strike of the metall miners of Leadville, Col., which h been in progress since June 19 last, W realled off by the miners' union. The California Mortgage, Loan ar "Trust company at San Diego failed f $200,000. A cyclone a mile wide struck Ralsto O. T., and nearly every house in tow and in the path of the storm was blow
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# The Lexington's Savings Bank IN THE HANDS OF RECEIV- ERS-SEVEN HUNDRED DEPOSITORS LOOSE THEIR MONEY. Mr. Waring was the absconder of the colored Savings Bank in Lexington, Ky. It was a great surprise to the Lexington people, as it had passed through the financial panic. Mr. Warring had always been held in high esteem by the people. In 1892 he was appointed pension examiner at Washington, and had held several other offices of trust. He is estimated to be worth about $20,000. He was the first colored lawyer admitted to the bar in Maryland. Below we give you a clipping from the Afro-American, of Baltimore, Md. Monday afternoon's papers gave the colored people of Baltimore the first intimation that the Lexington Savings Bank, the last corporation doing business in Baltimore among the colored people, had closed Its doors. The news came like a thunder clap out of a clear sky, for no one was expecting such a result. What added fuel to the flame was that Mr. Waring could not be found. He was at the bank Saturday and had, presumably, gone home, but inquiry at his home failed to relieve the strain, for his wife did not know where he was, he having stated to her that he was going to Washington. All day Monday and Tuesday an orderly crowd surrounded the bank and tried to gain some information as to the condition of affairs. All day Tuesday safe experts were engaged in trying to get the big safe open, aud did not succeed until nearly night. Mr. Waring alone having the combination. Early in the day two white men, F. O. Singer, Jr., and a Mr. Betz, Mr. Singer owning four shares of $100, and Mr. Betz being a creditor for $25, went before Judge Stockbridge and had a receiver appointed. The Drovers and Mechanics Bank also applied for a co-receiver and had one appointed. The condition of affairs as they now stand seems to be about as follows: Due Drovers and Mechanics Bank $7,000, $3,500 of which is secured. Various other amounts will possibly bring the sum total up to $20,000. The largest amount on deposit was $600.
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Patrick Connell, dealer in hardware at 473 Pennsylvania Avenue, Monday made an assignment to John J. Dolan. Jelenko Bros. & Loeb, of Charleston, W. Va., the largest department store in the state, wholesale and retail, have assigned. James E. Tippett has been appointed receiver for the Lexington Savings Bank of Baltimore.