Click image to open full size in new tab
Buffalo, N. Y., Oct. 15.-At 2 o'clock this morning the directors of the Bank of Commerce, one of the leading financial institutions in this city, announced that owing to heavy withdrawals the bank was compelled to suspend business and place its affairs in the hands of the banking department for examination. Nothing can be learned as to the assets and liabilities.
Click image to open full size in new tab
A BIG BANK BROKEN BUFFALO, N. Y., Oct. 14.-At - 2 oclock this morning the directors of the Bank of Commerce, one of the leading financial institutions in this city, announced that owing to heavy withdrawals the bank was compelled to suspend business and place their affairs in the hands of the banking department for examination. Nothing can be learned as to the assets and liabilities
Click image to open full size in new tab
BUFFALO. N. Y., Oct. 14.-The Bank of Commerce has suspended business pending an examination into its affairs by the banking department. The directors state that on account of large withdrawals they decided to take this step.
Click image to open full size in new tab
BUFFALO, N. Y., Oct. 15.-At 2 o'clock this morning the directors of the Bank of Commerce announced that owing to the heavy withdrawals the bank was compelled to suspend business and place its affairs in the hands of the banking department for examination.
Click image to open full size in new tab
BUFFALO, N. Y., Oct. 15.-At 2 o'clock this morning the directors of the Bank of Commerce announced that owing to the heavy withdrawals the bank was compelled to suspend business and place its affairs in the hands of the banking department for examination.
Click image to open full size in new tab
Bank Suspension at Buffalo, Buffalo, Oct. 15-At 20'clock this mornlog the directors of the Bank of Commerce, one of the leading financial institutions in this city, announced that owing to the heavy withdrawals the bank was compelled to suspend business and plac e its affairs in the hands of the banking department for examination.
Click image to open full size in new tab
FORCED TO CLOSE BY HEAVY WITHDRAWALS NO RUN ON OTHER BANKS. Buffalo, Oct. 15. - The Bank of Commerce of this city closed its doors this morning pending an examination by the Banking Department. Withdrawals from the bank have been recently quite large, and at a meeting of the Board of Directors last night it was deemed expedient to suspend and place the bank in the hands of the Banking Department. The directors, however, expect that the bank may be able to resume in a short time. The Bank of Commerce was organized of in $300,000 July, 1873, and is quoted as having a surplus and a capital of $200,000. The officers are: Prestdent. R. R. Hefford; vice-president, William H. Gardner: cashier, William P. Reed: directors, James Tillinghast, R. R. Hefford, James F. Chard, William H. Gardner, William H. H. Newman and William H. Gratwick. Cashier Reed resigned a fortnight ago, ill-health being given as the cause of his retirement. There was no run upon any of the city banks as A result of the suspension of the Bank of Commerce. At several banks visited this morning deposits were being made as usual. The presidents and cashiers united in saying that the embarrassment of the Bank of Commerce had not been felt by them at all. There was not even a suggestion to of withdrawals anywhere. They attributed this the fact that the trouble in the Bank of Commerce was due not to present business conditions. but to affairs of long standing. which have been known inside banking circles for some time. Colonel Rochester, cashier of the Third National Bank, and a member of the Clearing House Committee. said: "Our committee desires to state that the reports of all the banks of the city to the Clearing House last Friday showed them to be in an exceptionally strong condition. None of the banks, so far as I know, and I think I can speak from accurate information, are in any way involved with the Bank of Commerce, either by loans to them or by exchange of any securities. The Bank of Commerce did not call upon the Clearing House Committee for assistance, but the directors and stockholders decided to suspend until they could ascertain exactly how they stood, as the officers and directors had no wish to make themselves criminally liable in receiving deposits when their capital was impaired."
Click image to open full size in new tab
BUFFALO, Oct. 16.-At 2.a. m. the directors of the Bank of Commerce, one of the leading financial institutions of the city, announced that, owing to the heavy withdrawals, the bank was compelled to suspend business and place their affairs in the hands of the banking department for examination. Nothing can be learned as to the assets and liabilities.
Click image to open full size in new tab
BUFFALO, N. Y., Oct. 15.-The Bank of Commerce has suspended business, pending an examination into its affairs by the banking department. The directors state that on account of large withdrawals they decided to take this step.
Click image to open full size in new tab
BUFFALO, Oct. 15.-At 2 a. m. the directors of the Bank of Commerce, one of the leading financial institutions of the city, announced that, owing to the heavy withdrawals, the bank was compelled to suspend business and place their affairs in the hands of the banking department for examination. Nothing can be learned as to the assets and liabilities.
Click image to open full size in new tab
Bank Will Suspend, BUFFALO, N. Y., Nov. 23.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless. Other bankers are not inclined to assist, and stockholders of the suspended bank cannot agree among themselves, any more than they could before its affairs reached such a shape as to compel suspension.
Click image to open full size in new tab
Buffalo, N. Y., Nov. 25.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless.
Click image to open full size in new tab
Buffalo. N. Y., Nov. 25.-That the Bank of Commerce will go into the hands of a receiver now seems inevitable. All attempts at reorganization have proved fruitless.
Click image to open full size in new tab
Buffalo, N. Y., Dec. 3.-Justice Childs has appointed Henry H. Persons of East Aurora and John R. Hazel as rereivers for the defunct Bank of Commerce. A bond of $100,000 will be reguired from the receivers.
Click image to open full size in new tab
Henry H Pearsons and John R. Hazlas are arpointed receivers for the Buffalo, N. Y., Bank of Commerce.
Click image to open full size in new tab
BUFFALO, N. Y., December 23.Edwin J. Smith, individual book-keeper of the Bank of Commerce, was arrested on complaint of the receivers of the bank, charging him with falsifying the books, and thus effecting a practical embezzlement of between $2,500 and $3,000. Smith confessed.
Click image to open full size in new tab
Buffalo, N. Y., December 23.-Edwin J. Smith, individual book-keeper of the Bank of Commerce, was arrested on complaint of the receivers of the bank, who charged him with falsifying the books, effecting a practical embezzlement of between $2,500 and $3,000 Smith confessed.
Click image to open full size in new tab
A JERSEYMAN ACKNOWLEDGES A LARGE INDEBTEDNESS, WITH ONLY HYPOTHETICAL ASSETS.
Trenton. N. J., Oct. 6.-A bankruptcy petition has been filed in the United States District Court for New-Jersey by Andrew Brown, of Millburn, N. J. The petition says that Brown is indebted to the extent of $841,858.58, consisting principally of judgments obtained upon promissory notes. The creditors are in most instances either banks or individuals who accommodated Brown.
In his petition Brown says he has assets amounting to $271,000. This is made up of a claim against the Bank of Commerce, of Buffalo. Brown states in his petition that in accordance with an agreement made in August, 1895, he turned over to the bank a large amount of real estate and other property. The bank, he charges, failed to carry out its part of the agreement, and he has been damaged to the extent of $271,000. A suit for this amount is now pending in the United States District Court for Erie County, N. Y., against H. H. Persons and John R. Hazel, receivers for the Bank of Commerce.
The amount due by Brown to his creditors is for debts incurred in 1889 and since that time.
Click image to open full size in new tab
WON BY A POPULAR NORFOLK ATTORNEY AT TRENTON, N. J. Our townsman, Mr. E. F. Aydlette, recently won a brilliant legal victory at Trenton, N. J., from Norris Morey, Esq., one of the leading lawyers of Buffalo, N. Y. The action involved albout $50,000 worth of property in this State.
The following account of the case appeared a few days ago in the Buffalo Courier: "Trustee Cook of Andrew Brown, formerly known as the lumber king of Buffalo, and now of Short Hills, N. J., Instituted an action in North Carolina to recover some $50,000 worth of property, which he believes he has proof still belongs to Brown.
"For the benefit of Brown's general creditors, Henry H. Persons and John R. Hazel, receivers of the Bank of Commerce of Buffalo, applied to United States Judge Kirkpatrick to have the trustee restrained from proceeding with the action. After hearing argument Judge Kirkpatrick refused to grant the order. He said the claim could only be enforced in North Carolina, and if the trustee thought he had a valid claim it was his business, in the interest of his creditors, to go to North Carolina and see it out.
"There was a warm legal fight over the matter between E. F. Aydlette, of Elizabeth City, N. C., representing the trustee, and Norris Morey, of Buffalo, representing the bank."
Click image to open full size in new tab
A Tract of 39,400 Acres in Tyrrell County is Involved.
The case of Persons Hazells, Receivers of the Bank of Commerce of Buffalo vs. C. G. Bealing and others came up before Judge Purnell yesterday in the United State Circuit Court.
This was a suit in equity to foreclose a certain mortgage held by the Bank of Buffalo and to declare null and void certain tax deeds acquired by Wirgman and others-covering 39,400 acres, situate in Tyrrell county-said bank alleging said deeds were procured by conspiracy, etc., in that the defendants in the present suit improperly induced the tax collector to sell said bonds for taxes and thereby purchased the same by collusion.
The cause was set down for hearing today by Judge Purnell, for the purpose of deciding the relevancy of certain testimony offered by the parties to said suit as hearing on the questions above stated. It was a mass of testimony and embraced about eight hundred typewritten pages.
By agreement of counsel the cause was continued until May 14th, 1902, when the same will be argued upon the merits and a final disposition made of all the questions involved.
The attorneys in the case were Jas. E. Shepherd, of Raleigh; Norris Morey, of Buffalo, N. Y., and W. D. Pruden, of Edenton, N. C., for the plaintiffs, and F. H. Busbee, of Raleigh, and E. F. Aydlett, of Elizabeth City, for the defendants.
It seems that the Bank of Commerce of Buffalo held mortgages for about $50,000 on the tract of land in Tyrrell county. After the bank came in possession of this mortgage, it is alleged that Frank M. Wirgman, Charles G. Bealing and others entered into a conspiracy and had the land sold for taxes, and became purchasers thereof. One year subsequent thereto, the bank having failed to redeem the land, Wirgman and Bealing procured a deed from the sheriff of Tyrrell county, and claim the land under this title from the sheriff. The bank claims that by reason of those facts, they acquired no legal title to said land, and asked that the court as a court of equity decree Wirgman and others trustees and holders of the legal title for the Bank of Buffalo.
(Continued from Fin
the proposition for reciprocity originally favored a reduced 20 per cent, and by Mr. Shafroth, who vigorously opposed the bill, said that the sugar trust, was waging war of extermination on the best sugar industry, of which he was chief beneficiary.
Mr. Henry (Miss.) supported the bill on the ground that while it was bad, it was a step in the direction of reduction of duties.
The leaders of the House have been much worried as to how the controversy were to be relieved today when Mr. Richardson, who is acting as the Republican leader upon this occasion, informed them after a careful canvas he had made that, when the attempt is made to overrule the chair in order to offer an amendment to abolish the differential on refined sugar, the chair will be sustained.
On both sides it is conceded that uncertainty regarding the fate of the bill hinges upon the question of ruling of the chair. Despite Mr. Richardson's canvass, there are those among the opponents of the bill who still confidently say they will win the victory.
The Speaker announced the appointment of a committee to attend the funeral at Arlington Cemetery, of General Rosecrans, including Mr. Richardson and Mr. Taylor (Ala.)
The Postoffice Appropriation bill was sent to conference. Messrs. Cannon (Ills.) and Swanson (Va.) were named as conferees.
OVER THE MO
A Fine Turnpike Ashe to Wilkes Built by Con
Click image to open full size in new tab
The Tyrrell land suit was argued once more yesterday before Judge Purnell. This is a suit brought by the receivers of the Bank of Commerce of Buffalo, N. Y., against C. G. Beling, F. F. Brown, F. W. Wirgman and Andrew Brown. It involves the title to about 70,000 acres of timber land in Tyrrell countny. The attorneys are, for the plaintiff: Judge James E. Shepherd, Mr. W. D. Pruden, of Edenton, and Mr. Norris Morey, of Buffalo; for the defendants, Mr. F. H. Busbee and Mr. E. F. Aydlett, of Elizabeth City.