Meadville Savings Bank (Meadville, PA)

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Business Embarrassments

DAYTON, Jan. 13.-The Sachs-Pruden Brewery Company's board of directors, by direction of the stockholders, to-day applied for receivers, and A. A. Winters and John Munger were appointed receivers. Liabilities, $127,000; asserts, $400,000, including the brewery, which is rated the best equipped establishment in the city. MILWAUKEE, Jan. 13.-E. B. Paine, President of the defunct Commercial Bank, made an assignment to John Campbell at noon to-day. The assignees gave a bond for $50,000. Mr. Paine is one of the bondsmen of the bank to indemnify Milwaukee county against loss of its funds. MEADVILLE, Pa., Jan. 13.-The Meadville Savings Bank closed its doors this morning "temporarily," according to a card on the door.

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FAILURE OF A SAVINGS BANK AT MEADVILLE. Erie, Penn., Jan. 14 (Special).-The Meadville Savings Bank, of Meadville, Penn., closed its doors yesterday. The city had scarcely recovered from the Delameter Bank failure, and this shock, which was quite unexpected, will be severely felt. The house was a private banking institution of $75,000 capital, paid up, and its president, Cyrus W. Ketcham, who had established the house in 1867. was the most conservative banker in this section of the State. The deposits are small, and are largely among the business houses. The liabilities are estimated at about $75,000. The bank's assets are farm mortgages, and the failure was not due to a run, but because the bank was unable to meet its New-York paper. The failure caused a run on the other banks, but the run exhausted itself. The directors of the bank say they will be able to pay every cent of the liabilities.

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MONEY CAME IN STEADILY

But it Wasn't Enough to Keep the Bank on Its Feet. MEADVILLE. Pa., Jan. 14.-A state. ment was issued today by President Cyrus Kitchen of the Meadville Savings bank which closed its doors Sat. furday morning, in which the cause of the suspension is charged to the finan. cial stringency and difficulty of mak ing collections. Deposits have decreased $1,000 daily for some time, until when if certificate for a large amount was presented for payment Saturday morning the bank had not the funds to meet it. The bank claims to be able to pay all claims if it is granted sufficient time,

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TWO GIRLS AND A PISTOL

Alleged Agents for Collecting Money from a Wrecked Bank. (By Associated Press.) MEADVILLE, Pa., Jan. 17.-Two young ladies called at the residence of Cyrus Kitchen, President of the recently suspended Meadville Savings Bank, and according to Mrs. Kitchen's story, demanded $800. which had been deposited in the bank by their father. One of the girls. Mrs. Kitchen states, held a loaded revolver to her head and threatened to blow her brains out if the money was not produced immediately. The girls are Miss Lucy Jobe, a teacher. and her sister Minnie, a dealer in hair goods. They were both arrested. The girls deny that they used any re. volver or made any threats. but say they were there on business. Miss Minnie having been asked to call. 80 that the Kitchens might make some purchases.

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But Deny They Pulled a Revolver on Bank President's Wife. By The Associated Press. MEADVILLE, Pa., Jan 17.-Two young ladies called at the residence of Cyrus Kitchen, president of the suspended Meadville Savings bank, demanded $800 deposited in the bank by their father Mrs. Kitchen says one of the girls held a revolver to her head and threatened to blow her brains out if the money was not produced immediately. The girls are Miss Lucy Jobe, a teacher, and her sister Minnie, a dealer in hair goods. They were both arrested. The girls deny that they used any revolver or made any threats.

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WANTED THEIR FATHER'S MONEY

Two Young Women Accused of Using Revolvers In - Suspended Bank Case. MEADVILLE, Pa., Jan. 17.-Miss Lucy Jobe and her sister Minnie called yesterday at the residence of Cyrus Kitchen, President of the recently suspended Meadville Savings Bank, and, according to the story related by Mrs. Kitchen. demanded $800 on deposit in the bank to the credit of their father. Mrs. Kitchen says that one of the girls seized her, and holding a revolver to her head, threatened to kill her if the money was not produced immediately. The sisters were arrested last night. Mrs. Kitchen was too prostrated to appear against them at the hearing and the trial was postponed. The Misses Jobe deny they used revolvers or made threats.

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Among the pensions issued at Washington are the following. PennsylvaniaOriginal P. Foust Somerset. reissue, Samuel Scritchfield. Manus Choice; Newton H. Braddock. Wind Ridge; original widows, etc. Angelina L. Robison (mother) Polk Venango; Thomas Barnes (father) Towanda, Bradford. THE Allegheny Valley Railroad ticket office at New Kensington has been robbed again. This time the thieves secured $25 in broad daylight, while the people in charge were at dinner. FRITZ ELWINGE, aged 35 years, of Girard' was shot fatally Saturday afternoon by Dell S. Edgar. Edgar is in jail. He is 32 years of age and has a wife and two children. AT Altoona while cleaning a revolver Daniel Swartz accidentally discharged the weapon and the bullet entered his wife's right side just below the heart. DR. SCHAEFFER, superintendent of public instruction, stated at Harrisburg that he was opposed to the passage of a compulsory school law in this state. Ex-Banker F. A. ROCKAFELLOW, recently convicted of embezzlement, was sentenced at Wilkesbarre to two years and two months in the penitentiary. THE Meadville savings bank suspended. The institution is an incorporated partnership in which the stockholders are individually liable. A MORTGAGE was filed at Lancaster against the Pennsylvania traction company for $2,000,000, to secure bonds for that amount. THE bar association of Montgomery county has decided by a vote of 18 to 9 that it is inexpedient to admit women to the bar. THE Standard Sewer Pipe company, of Huntingdon, have resumed work employing 70 hands after several weeks' idleness. CHARLES D. COURTNEY an inmate of the Soldiers' home in Erie, fell down stairs at the home and broke his neck. ONE HUNDRED employes at the Enterprise glass plant Beaver Falls, struck for an advance in wages. STEPHEN FAIRCHILD. a brakeman. was run over by a train and beheaded at Broadford, Fayette county. THE Eagle hotel at Gettysburg was destroyed by fire. Loss $30,000; insurance $16,000. SCARLATINA is SO prevalent roundabout Buffalo Mills that the schools have been closed. THE old and historic building at Bellefonte, the Conrad house, was destroyed by fire.

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Bank Stockholders Assign

MEADVILLE, Pa., Jan. 24.-The stockholders of the Meadville Savings bank, which closed January 13, have assigned to James W. Smith, an attorney of this city. They were forced to this action by several suits started by depositors. A statement of the bank's condition will be issued soon

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IN OUR OWN COMMONWEALTH

The Democratic city convention at Carlisle renominated John R. Miller, a leading lawyer, for mayor. At midnight Mr. Child's physicians issued the following bulletin: "Mr. Child's had a better day, though there is no striking change in his condition." Execution has been issued from the Delaware county court against the Briggs Brick company, of Norwood, upon judgment notes aggregating $18,000. The South Chester police have arrested "Jersey" Gerand, who is charged with being implicated in the murder of Charles McGlone on the night of Jan. 19. An official report of the appraisers of the defunct Meadville Savings bank shows the assets to be $51,000; liabilities, $127,000. The stockholders are individually liable. A fire of unknown origin badly damaged the malt house and contents of the Eberhardt & Ober Brewing company. located on Trov hill, Allegheny City. The loss is $35,000; insurance, $25,000. An early resumption of work at t the Keystone Rolling mill and the Pittsburg Tube works is probable. The mills have been idle since June. They furnish employment to 700 men when in operation. The Farnum Cotton mills at Lancaster announce a reduction in wages of 10 per cent. 800 run hands, will The hureafter mills which employ four days over every week instead of on alternate weeks. The twenty-live collieries of the Reading Coal company in Shenandoah, employing 10,000 men and boys, shut down last evening for an indefinite period. The shutdown was caused by over-production. Among the fourth class post masters ap pointed are the following: Alice Daley, Benezett, Elk county; W. A. Meehan, Long Valley, Bradford; Albert Huling, Red Cliffe, Forest: D. M. Smith, Scott Center, Wayne: J. B. McMananey, Cambria. The Phenix Iron company has just received the contract from the Southern Pa. cific railroad to put up near New Orleans an iron bridge over two miles long which will take 50,000,000 pounds of iron. The contract will keep the works busy two years. The West Chester authorities have dragged the city reservoir for the body of John Beitler, the ost master who disappeared from Howeltville with a lot of money received from Italians and Hungarians. It was supposed he had committed suicide.

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LOOKING BACKWARD.

Leading Events of a Memorable Twelve Months.

THE YEAR 1894 PASSED IN REVIEW.

Failures, Casualties, Crimes, Foreign and Industrial Happenings, Meteorology, Political, Social and Sporting Events Chronologically Recorded.

BUSINESS FAILURES.

BANKS GENERALLY. OTHERS FOR $500,000 AND OVER.

Jan. 3—Southern Land and Improvement Co., Frankfort, Ky.; $500,000. Jan. 9—Citizens' bank at Ogden, Utah... Bank of Port Washington, Wis. Jan. 10—W. T. Beak & Co., San Francisco commission merchants; $750,000. Jan. 14—Meadville (Pa.) savings bank. Jan. 15—Merchants' bank, Ellis, Kan. Jan. 16—Third national bank, Detroit Bank of Zumbrota, Minn. Jan. 22—Westview savings bank, at Louisville, Ky. Jan. 24—First national bank, Fort Payne, Ala. Feb. 9—Signa Iron Co., of Philadelphia; $100,000. Feb. 14—American national bank at Springfield, Mo Burlington (Ia.) Fire & Tornado Insurance Co. Mar. 2—State bank at Brookville, Kan. Mar. 7—Bank of Harrison, Neb. Mar. 13—Bank of Excelsior Springs, Mo. Mar. 28—People's savings bank of Duluth, and Merchants' bank of West Duluth. Apr. 6—J. B. Watkins Mortgage Co. of Lawrence, Kan.; $5,550,000. Apr. 10—Aspen (Col.) national bank. Apr. 13—W. H. Thomas & Son, whisky dealers and distillers at Louisville, Ky.; $500,000. Apr. 19—West Superior Iron & Steel company of Milwaukee; $2,500,000. Apr. 24—Merchants' bank of Enid, O. T. Apr. 27—Henry Newman & Co., importers of clothing supplies in New York; $1,500,000. Apr. 30—Scandinavian and Finland Emigrant Co. of New York; $4,000,000. May 4—First national bank of Sedalia, Mo. May 7—State national bank at Wichita, Kan. May 8—A. N. Schuster & Co., clothing dealers at St. Joseph, Mo.; $500,000. May 16—National bank of Pendleton, Ore. May 18—The order of Tonti in hands of receiver in Philadelphia. May 20—Traders' bank of Tacoma. May 24—Bank of Tempe at Phoenix, A. T. May 31—Bank at Enterprise, Kan. June 4—Steele & Walker, wholesale grocers at St. Joseph, Mo.; $700,000. June 5—Farmers' and Merchants' bank at South End, O. T. June 7—German national bank at Denver, Col.; $853,000. June 8—Union Warehouse Co. of New York; $1,000,000. June 10—American Investment Co. at Emmettsburg, Ia.; $800,000. June 18—Goodwin & Swift, of New York, electric railway builders and promoters; $750,000. June 21—Black Hills national bank of Rapid City, S. D. July 26—First national bank of Grant, Neb. Aug. 1—Baker City (Ore.) national bank. Aug. 7—Citizens' savings bank at Portsmouth, O. Aug. 10—Second national bank, Altoona, Pa. Aug. 13—Wichita (Kan.) national bank. Aug. 17—Commercial & Savings bank of Ludington, Mich. Sep. 6—Middleton (Pa.) bank. Sep. 7—Mutual Benefit Life association of America, headquarters at New York; $10,000,000 Oklahoma county bank at South Enid, O. T. Sep. 10—Citizens' bank of Plattsmouth, Neb. Sep. 21—Commercial bank at Weeping Water, Neb. Oct. 1—First national bank of Fayetteville, N. Y. Oct. 5—Coffin & Stanton, stock brokers in New York; $3,600,000. Oct. 10—American Debenture Co., of Chicago; $1,500,000. Oct. 11—First national bank of Kearney, Neb. Oct. 12—Buffalo county national bank at Kearney, Neb. Oct. 16—Merced bank, at Merced, Cal. Oct. 23—George M. Irvin & Co., of Pittsburgh, Pa.; $1,000,000. Oct. 25—J. J. Reithman and J. J. Reithman & Co., wholesale druggists in Denver; $500,000. Nov. 8—San Bernardino (Cal.) first national bank. Nov. 12—First national bank of Johnson City, Tenn. Nov. 20—Portland (Ore.) savings bank; $1,430,000. Nov. 23—Brown national bank at Spokane, Wash. Nov. 27—Kendall Banking company at Howard, S. D Security National bank of Grand Island, Neb. Nov. 28—Bank of Canova, S. D. Dec. 4—North Platte (Neb.) national bank Tacoma (Wash.) national bank. Dec. 5—Farmers' Insurance Co., of Seattle, Wash. Dec. 11—Commercial bank, at St. Joseph, Mo.

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Long Delayed Dividend

Meadville, Pa., Dec. 8.-A dividend of 31 2-10 per cent will be paid, commencing tomorrow, to the depositors in the Meadville Savings Bank, which suspended nearly three years ago. The deposits antedating certain changes in the ownership of the bank stock will receive nothing.

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KEYSTONE STATE NEWS CONDENSED

ROBBERS LEFT A TRAIL. Stolen Wheat Dropped From a Hole in a Sack. The granary of James Soults, of Sugar Grove, was robbed of 50 bushels of wheat Monday night. Soults discovered the robbery the next morning and also found a trail, a hole having been forced into one of the grain sacks by the robbers in their haste, allowing the wheat to fall out in a small stream. Soults followed the trail for several miles. It was finally lost near the barn of is man named Hallback. A. warrant was sworn out and Hallback placed under arrest. The stolen property was discovered hidden in the hay mow. The Hollidaysburg office of the Guarantee Loan and Investment Company was robbed. The safe was cracked and $500 in cash and many valuable securities taken. Manager J. C, Akers says the stolen property belongs to private individuals and that the company loses nothing. The sheriff condemned the four rolling mills and 90 houses of the Catasaqua Manufacturing Company at Allentown; and will sell them January 2. Executions were entered in favor of A.N. Ulrich andR, Hamorsley. trustees, for $105,616.67, and A. N. UIrich and J. S. Elverson, trustees, for $104,680.56. A dividend of 31 2-10 per cent will be paid to the depositors of the Meadville Savings bank, which suspended nearly three years ago, Depositors antedating certain changes In the ownership of bank stock will receive nothing. The Westmoreland hospital management has secured an option on the Frank Shearer property, West Pittsburg street, Greensburg, and will probably purchase It and begin the erection of hospital buildings. James Overand, employed by the Equitable Coal company, at Webster, was run over by a trip of empty wagons in the mine, and had both legs broken, besides sustaining internal injuries. Four children of Jesse Cassel of Broad Axe were poisoned by eating apples. It developed that the trees had been sprayed with paris green to kill bugs and the poison stuck to the apples. Judge Miller, of Mercer county, has deferred sentence on William Goldberg, the wealthy junk dealer of Sharon, convicted of the larceny of $300 worth of copper wire. William Mallorv, n blind man, and one of Sharon's best-known citizens, has received information that he will receive about $3,000 by the division of an estale in England. Edward F. Bliss and Peter Dunn are under arrest at Mt. Pleasant for mayhem. Bliss kicked Dunn's eye out and Dunn bit off a piece of Bliss' ear in a fight, The prosecution of D. C. Oyster at Ridgway, ex-president of the bank, was dismissed on his payment of the costs. Alpheus W. Gans, of Fairchance, died from injuries received by failing from a bicycle in a road race last October. Norman Thomas, who as "Razzle Dazzel," has become 80 well known recently, was taken to Warren asylum. A. Nagl has been appointed postmaster at Lillyville, Beaver county, vice W. Liebendoafer, resigned. Frank Griffin, aged 60, was killed by a fall of slate in a mine at Scott Haven, near Greensburg. David McCoy, A stonecutter of Greenville, was beaten by highwaymen and robbed of $40.

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NEWSY NOTES

One successful balloon voyage to the gold diggins will fill the air in the North. west with airships. This is an age in which rapid transit is a necessity. The depositors of the Meadville Savings Bank have received a dividend of 61 per cent., the first that has been paid since the bank run up the shutters in 1894. Germany's estimated crop of beet sugar this year is 1,830,000 tons. There is no reason why the United States may not produce as much within the next ten years. In the free-for-all at Columbus last Friday, Joe Patchen's pacing of a mile in 2:01½ put the 2- minute gait within reach of the modern horse, and tied John R. Gentry's world record. In the third heat of the race Star Pointer made the last half-mile in 1 minute flat. This is a composition on temperance, written by a little Georgia girl: "Temperance is more better than whiskey. Whiskey is 10 cents a drink, and lots of it. My pa drinks whiskey. He has been full 113 times. One night he came home late, and my ma went out and cut some hickories and walloped him good. Then she ducked his head in a tub of soapsuds and locked him up in the barn. And the next morning my pa said he reckon he'd swear off." Llfe in the tropies is on many accounts easier than life in the temperate districts; fruits grow without much feasing; no coal is required to keep the family warm; there is no incentive to effort; labor is cheap, and all that a white settler has to do is to sit on a veranda. But who wants to lead that sort of life? asks the Quincy Whig. Nobody with blood in him. The tropics never produced a soldier, an inventor, a writer, an artist, not even a successful shopkeeper. Life that is easy and lazy is not worth living.