Lamborn & Gray (Alliance, OH)

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Assignment of a Banking Firm

CLEVELAND, Dec. 24-Lamborn & Gray, bankers, of Alliance, have assigned individually and as a firm. Rumors are plenty but facts are scarce. The liabilities and assets are unknown. The business of . the houses at Alliance and Canton are said to be heavily involved, and a large number of farmers are said to be severe losers.

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church, near here. The weapon used was an axe, and all three were struck several blows. No clae to the murderers, and there is great excitement. NOT BILL YOUNGER BUT CLIFTON WARE. CHATTANOOGA, Dec. 24.-Bill Younger, arrested at Warren, Ala., on Saturday, by Sheriff Foute, of London county, Tenn., confessed his identity to a minister to-day and stated he had been associated with Jesse James, but denied that the James brothers were concerned in the Muscle Shoals robbery. A special from Jefferson City, referring to this arrest, says the prisoner is not Bill Younger but Clifton Ware, who deliberately killed Robert Cammings at Madison, in Monree county, Mo., on the 21st of last May. Governor Crittenden has a dispatch from Sheriff Foute announcing the arrest of Ware. LYNCHED. EVANSVILLE, Ind., Dec. 24--Charles Harvey, Petersburg, who murdered Hensy Custin, Jr., on Friday night, was taken from the jail on Sunday morning at 1 a. m., and hung to a tree. There is no doubt of his guilt. BATHER SCALY. CLEVELAND, o., Dec. 24.-Lamborn & Gray, bankers, of Alliance, have assigned individually, and as à firm. Rumors are plenty, but the facts are scarce. The liabilities and assets are unknown. The business houses in Alliance and Canton are said to be heavily involved, and a large number of farmers are said to be severe losers. SHOOTING AFFRAY. INDIANAPOLIS, Ind., Dec. 24.-A shooting affray took place at Richmond this evening. Henry W. Johnson, a prominent criminal lawyer, while attempting to shoot Baumer Brother, shot Policeman Wertenberg in the thigh, which may prove serious, and was himself shot in the back of the head by an unknown party. The shooting was the result of a law suit between Baumer Bros. and a man named Vaughan. Johnson was the attorney for the latter.

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NEWS IN BRIEF

The remains of ex- Governor Lowe, of Iowa, will be buried to day in Glenwood cemetery, at Washington. The liabilities of Lamborn & Gray, bankers of Alliance, who assigned, are various ty estimated at from $100,000 to $500,000. Aesets unknown. Charles Conrad, a young man employed by the Columbus Sewer Pipe company, fell through an elevator opening, breaking his neck and killing him instantly. Chairman Randall heg called a meeting of the House Appropriations Committee for to-day, for the purpose of organizing and making assignments of sub-committees. A fire at Chippewa Falle, Wis, at an early hour yesterday morning destroyed Lafay, ette mill and warehouse. and other buildings. The loss is about $30,000; insurance $20,000. Mr. A. B. Chandler, of Cleveland, 0., has accepted the position of general manager of the Baltimore & Ohio telegraph department and will take charge on the retirement of Mr. Gaorge P. Frick, January 1. Three convicts in the Ohio penitentiary, e James McCrum, of Pickaway county; Jas. n M. Stewart, of Athens county; and Alonzo Stevenson, of Muskingum county, got pard dons from Gov. Fester as their Ohristmas gifts,

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The Bank Failure.

eland, December 25. - The lies of Lamborn & Gray, bankers in dance, who assigned, are vari-estimated at from $100,000 to ; assets unknown.

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BUSINESS COMPLICATIONS 87,000 Spindles Stopped by the Failure of A. D. Smith & Co. PROVIDENCE, R. I., Dec. 26.-The firm of A. D. Smith & Co. have made an assignment. The liabilities are said to be over $1,000,000, largely due to Providence banks. The firm operated two cotton mills in this city, two in Johnstown and one in Woonsocket, in all 87,000 spindles. The failure involves the suspension of the Providence Steam Mill Company the Groton Manufacturing Company and Franklin Manufacturing Company. It is said at Bradstreet's agency here that they have rated Smith & Co. low since 1879. There is, they say, large property, but mostly in plant, and the firm has been working on a large indebtedness and insufficient active capital. The assignees of the firm are Royal C. Taft, C. W. Carpenter and E. W. Mason. CHATTANOOGA, TENN., Dec. 26.-J. & B. Lambert, dealers in dry goods, at Huntsville, Ala., have been closed out by their creditors. The liabilities are $63,000. The assets are not known. CLEVELAND, Dec. 25.-The liabilities of Lamborn & Gray, the bankers of Alliance, who recently made an assignment, are variously estimated at from $100,000 to $300,000. The assets are not known.

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ALLIANCE

The Failure of the Lamborn & Gray Bank ---The Creditors to be Paid in Full. We mentioned in our last issue the failure of the banking house at Alliance of Lamborn & Gray. It seems rumors were rife of danger on Sunday as to the solvency of the institution, and undoubtedly a general run would have ensued on Monday if the bank had opened. An assignment was made on Monday, Hugh Blakely, William Stalleup and Emery Miller being made assignees. The credit of the bank has always stood high, Dr. Lamborn being known as a man of wealth, owning much valuable real estate. We understand Dr. Lamborn says the creditors will be paid in full. The immediate cause of the assignment was the failure of the Cleveland, Youngstown & Pittsburg Railway Company to meet Lamborn & Gray's draft for $40,000 advanced to the railway company as a mere accommodation of a few days. Mr. Gray, the cashier of the bank, is also treasurer of the Cleveland, Youngstown & Pittsburg Railroad Company, and through him all money of that company has been disbursed. The principal owners of the Cleveland, Youngstown & Pittsburg Railroad are the officers of the National Bank of the Republic of New York City, and most of the bonds of the road are owned by that institution. It has been Mr. Gray's custom to advance funds for the monthly pay-rolls and estimates of the road at the request of the National Bank of the Republic, and draw on them for the amount. The last time this accommodation was given the draft was returned protested. This fact soon became known, and a general run was inevitable. This the bank could not stand, as the $40,000 involved was the working capital of the concern. A conference of the friends of the firm and of the members of it indidividually. The failure last week of Lewis Schilling, of the Excelsior Fertilizer Works, caused a loss of $25,000. A loss of some $40,000 about two years ago through the Manny Brothers, contractors of the C., Y. & P. R. R., is also spoken of, and it is spoken of as a dead loss. It is said the deposits will not fall short of $250,000, largely among farmers. The assignees are preparing a statement which will soon be made public. It is undoubtedly a serious calamity for Alliance, and none regret it more than Messrs. Lamborn & Gray.

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GENERAL

ON the 23d, at Moriah, N. Y., Mrs. Martha Staves suddenly died in church while the congregation was singing. J. & B. LAMBERT, dry goode, Huntsville, Ala., failed on the 26th. Liabilities $63.000. GEN. McKENZIE, commander of the military department of Texas, was relieved on account of severe nervous prostration. Gen. Schofield takes charge. A CRUSADE in Lawrence Kas., resulted in the closing of all saloons on the 26th, and not a drop of intoxicating liquor can be obtained in that town. AMOS P, SMITH & Co., cotton goods manufacturers, Providence, R. I., failed on the 26th. Liabilities $1,700,000. ON the 24th salutes were fired at the various ports and military posts in the United States in observance of the 100th anniversary of the surrender by Washington of his commission as commander-in-chief of the army. A BARBER at New Haven, Ct., on the 24th, received as a Christmas gift, notification of the death of a relative in Germany who bequeathed him $87,000. ON the 24th Lamborn & Gray bankers, Alliance, 0., assigned. Liabilities $300,000. COLD weather struck New York and other eastern points on the 23d. The thermometer at Utica, N. Y,, was 22 below zero, and at Boston, Mass., and other places, from 18 to 30 below. ON the 22d, Miles M. O'Brien, of New York City, was elected president of the "Irish Confederation." Snow to the depth of 20 inches at Cincinnati, O., was on the 23d pretty thoroughly saturated by a rain storm lasting all day. Considerable damage was done by streets being washed, oofs of houses crushed. etc. ON the 23d, at New Haved; Ct., Miss Lizzie Johnston, got rid of an unwelcome lover named Heury Richards, aged 50 years, by shelling him with eggs. THE business failures in the United States for the week ending December 21st, number 281. SNOW on the 21st blockaded railroads in York state. ON the 20th, John Abraham, of Rockford, III.. a poor man, was suddenly enriched by the death of an uncle in Michigan. John now has $60,000 to squander. LOUISIANA democrats in convention at Baton Rouge. on the 20th, declared in favor of laws prohibiting the running of lotteries. ON the 21st, the West Shore Railroad discharged 1,800 laborers near Utica, N. Y., owing to heavy snows and cold weather. DONALD GORDON, dry goods, Rochester, N. Y., assigned on the 20th. Liabilities $200,000. WILLET BRONSON, real estate. New York, assigned on the 20th. Preferred liabilities $42,000. A BLOCK of buildings at Rushford, N.Y., burned on the 21st. Loss $50,000. Two freight trains met on a single track on a bridge at Lackawaxen, Pa., on the 21st, and several cars and part of the bridge were destroyed. ON the 21st at Cambridge, Md., Mrs. Gabriel Kiah, in attempting to save her child whose clothing had caught tire, was herself fatally burned.

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Financial Embarrassment.

Reis Bros., wholesale dealers in fruits and fancy groceries, Cincinnati, assigned on the 29th. Liabilities $100,000.

The dry goods firm of H. E. Mann, St. Paul, Minn., failed on the 28th with liabilities to the amount of $40,000.

Jefferds, Bailey & Co., furniture manufacturers, Jamestown, N. Y., assigned on the 27th. They owe $100,000.

C. A. Coutant & Co., Chicago dealers in fancy goods and notions, failed on the 27th, with liabilities of $100,000.

The firm of Amos D. Smith & Co., heavy cotton manufacturers of Providence, R. I., failed on the 26th, with liabilities estimated a $1,700,000. Ten thousand operatives are thrown out of work by the suspension.

The grocery firm of French & McKnight, Erie, Pa., suspended on the 26th, with debts to the amount of $30,000.

Lamborn & Gray, bankers, Alliance, Ohio, failed on the 24th for $100,000.

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Financial Embarrassment

The dry goods firm of H. E. Mann, St. Paul, Minn., failed on the 28th with liabilities to the amount of $40,000. Jefferds, Bailey & Co., furniture manufacturers, Jamestown, N. Y., assigned on the 27th. They owe $100,000. C. A. Coutant & Co., Chicago dealers in fancy goods and notions, faiied on the 27th, with liabilities of $100,000. The firm of Amos D. Smith & Co., heavy cotton manufacturers of Providence, R. I., failed on the 26th, with liabilities estimated a $1,700,000. Ten thousand operatives are thrown out of work by the suspension. The grocery firm of French & McKnight, Erie, Pa., suspended on the 26th, with debts to the amount of $30,000. Lamborn & Gray, bankers, Alliance, Ohio, failed on the 24th for $100,000.

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IT WEARY

The Creditors of Lamborn & GrayTire of Monkey Business. credttors of Lamborn & Gray, the bankers of Alliance, be tired of seeing money defunct come The very their of have assigin the hands allege, are nees, from a who, distance they in collusion to dewith Lamborn in a conspiracy fraud them. Uriah Thomas, a creditor to the extent of $16,000, Jonathan Mey ers, William H. Oyer and Mary A. Detcheon, all creditors, filed a petition asking of a which they was over to the the tain appointment property Receiver assignees. allege for cer- The in this action never plaintiffs turned charge that that they the deal is rotten to the core, and are the victims of a high handed conspiracy to cheat and defraud them. allege & made a "pretended Their Gray pleadings William that assignment Lamborn Stallcup, to Miller and of of their property on Emery a part that said the 24th preDecember, 1883; was day tended of assignment made of defraud- for the and with the intent ing, hindering the and other purpose cheating, plaintiffs and creditors delaying in the collection of just claims. They also claim that Levi L. Lamborn has transferred valuable real his his wife and fraudulently estate to BOLS, to and Hugh without consideration for of fraud. thousands transferred the Blakely, purpose many That of he dollars also contracts, bonds and to Levi also safes, a mortgages worth of notes, payable valuable library, L. Lambora; horses and carriages and other items of personal property. They also claim that he has in his possession large same of money. The pleadings innumerate among the items of personal property thus fraudulently transfermortgage against $1,600 red, Coates & for which the A. credi- ought W. to been turned over to tors; Mrs. Lamborn have that has collecting possession of and is the and a of other notes number interest said mortgage thereon, claims and other to own property which in reality are the property of L. L. Lamborn, and which were without consideration. of the transferred Since the date assignment his elegant he has record a deed for valued to private placed on residence, at that $20,000 he his wife. They also claim purchased a house in the name of his son, Leroy, which he paid for out of money that belonged to his creditors; that he purchased the old bank building for his creditors money, and put it that he in wife her with name; transferred his with- his valuable green houses to son and the he out assignment consideration; transferred that since to Hugh Blakely about 100 town lots in Alliance worth $25,000, without consideration and for the purpose of fraud; that the assignees, Stallcup and Miller, have all still have knowledge of these transactions. to act fraudulent are along powerless and and They ask the say court they to appoint a receiver for the property described in the pleadings. The forgoing is about the substance of the claims of the creditors. After the argument counsel appointed Judge hearing Raley of Mathew him the to Early take receiver, and directed charge of all the property mentioned, including the Leroy Lamborn house, the Blakely lots, the greenhouses, horses and carriages, the private residence, the bank building, library, safes, ect., and to collect the rents, intereat and profits. Early was required to give bond in the sum of $25.000, which was furnished. Armed with this order of the Court, Early proceeded to Alliance with three who were at two more Alliance Canton policemen, by officers, against when joi: ed the the whole regiment moved Lamborn fortress. Mrs. Lamborn ad mitted them to the house, when they proceeded to the library and rolled out two safes and carried off the books. They then proceeded to the stable and hitched up a good turnout and made off entire find. The safes were to the old bank sledge and with conveyed the with jimmy. building About and and paper money. valuable opened $1,700 in gold watches, gold jewelry, several and papers, the value of which was not made known, were found in the safes. Whatever else may be said of Doc Lamborn, nobody ever accused him of being a fool, and the end is not yet.