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CINCINNATI, Ohio, Sept. 11, 1869.Pearce, Atkins & Company, proprietors of the Franklin Cotton Mills at No. 103 West Second street, assigned this morning for the benefit of creditors. Assets $240,000; liabilities, $163,000. No preferences. Dull business and slow collections are the alleged causes of the failure. NEW ORLEANS, Sept. 11, 1896.-The Bank of Commerce closed its doors today. It is a State institution.
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Failure of Another New Orleans Bank. NEW ORLEANS, September 11.-The Bank of Commerce, a state institution, did not open its doors this morning. President Nichols gives the following explanation: "Owing to the unprecedented run on the bank for the past six weeks and the impossibility of realizing with sufficient rapidity on the assets, and after consulting with the vice presidents of the clearing house and submitting a statement to them, we, deemed it advisable, in order to protect the interests of depositors, so that they might be paid in full in a short while, as well as the stockholders, to take this step of liquidating-a step which none feel more than we do." The bank owes depositors between $300,000 and $400,000, while the assets of the bank are about $800,000. The bank had quite a long list of small depositors.
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NEW ORLEANS, Sept. 11. - The Bank of Commerce, a state institution, failed to open this morning. President Nichol gives the followlog explanation: "Owing to an unprecadented run on the bank the past SIX weeks and the impossibility of realizing with sufficient rapidity on the assets, and after consulting with the vice president of the clearing house, submitting a atatement to them, we deemed it advisable in order to protect the interests of depositors, BD they might be paid in full, in a short while, as well as the stock. holders, to take the step of liquidation, a step which none deplore more than we do." The bank has deposits of between three and four hundred thousand dollars, while the assets are about $860,000. The bank had a long list of small depositors.
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A receiver has been asked for the company building the trolley road between Baltimore and Washington. Peace, Atkins and Co., proprietors of the Franklin Cotton Mills, Cincinnati, assigned this morning. Liabilities $163,000. James Cherry, a cigarmaker of Norfolk, threw himself under a train of moving cars at the depot of the Norfolk and Western Railroad this morning, and was cut in two at the hips. The officers of the United Society of Christian Endeavor announce to-day that the next international Christian Endeavor convention will be held July 7-12, 1897. San Francisco has been se. lected as the place. Another New Orleans bank, the Bank of Commerce, closed its doors to-day. There W3S a great crowd about the bank building shortly atter the doors were closed. It is stated that the doors were closed as a matter of precaution, there having been 8 run on the bank yesterday. Depositors, it is understood, will lose but little. The steamship Fuerst Bismarck which ar. rived at New York last night brought $3,697,800 in gold. Aggregate arrivals thus far are $23,172,050. Lazaid Freres have deposited $3,000,000 gold in the subtreasury in exchange for greenbacks. An explosion occurred at the mills of the Ohio Gunpowder Company. at Youngstown, Ohio, this morning about 8 o'clock, in which two men lost their lives. The explosion was heard for miles.
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Another Bank Closes, NEW ORLEANS, Sept. 11.-The Bank of Commerce, a state Institution. did not open its doors this morning. President Nichols gives the following explanation: "The unprecedented run on the bank for the past six weeks and the impossibility of realizing with sufficient rapidity on the assets and after consulting with the vice presidents of the clearing house and submitting a statement to them. we deemed it advisable, in order to protect the Interests of depositors, 80 that they might be paid in full In A short while. as well as the stockholders. to take this step of liguidating-n step which none feel more than we do." The bank owes depositors between $800,000 and $400,000. while the assets of the bank are about $800,000. The bank had quite a long list of small depositors,
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New Orleans Bank Bursts, the Fourth Within a Few Days. New Orleans, Sept. 11.-The Bank of Commerce closed its doors to-day. The Bank of Commerce was organized in 1887. with a capital stock of $100,000. Wm. P. Nichols, a nephew of Chief Justice Nichols, of the Supreme Court, is its president. There was a great crowd about the bank building shortly after the doors were closed. It is stated that the doors were closed as a matter of precaution, there having been a run on the bank yesterday. The depositors, it is understood, will lose only a little. Washington, Sept. 11.-Acting under the general instructions given them, the receivers of the several failed national banks at New Orleans took possession of all the property found in the vaults of the institutions. Among these were a number of hoxes containing securities and other papers of depositors and others left with the banks for safekeeping. Comptroller Eckels to-day wired instructions to the receivers to deliver the boxes :0 all owners who are not indebted to the banks, and to all owners the papers not relating to their transactions with the banks or which could not be used in settling them.
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NEW ORLEANS, LA., September 11.The Bank of Commerce closed Its doors to-day. It was organized in 1887, with a capital stock of $100,000. William P. Nichols, nephew of Chief-Justice Nichols, of the Supreme Court, is its president. There was a great crowd about the bank building shortly after the doors were closed. It is stated that the doors were closed as a matter of *precaution, there having been a run on the bank yesterday. The depositors, it is understood, will lose but little.
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TROUBLE IN THE CRESCENT CITY ANOTHER BANK WENT DOWN YESTERDAY. The Bank of Commerce Closed Its Doors. As Usual, the Assets Are Said to be More Than Liabilities-A Lively Run on Another Bank--Two Clerks of the Union National Placed Under Arrest. The Government Continues the Transfer of Money to Meet Demands.
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New Orleans Bank of Commerce Closes Its Doors-Fourth Bank to Go Under in New Orleans in a Short Time-City on the Verge of a Panic. New Orleans, Sept. 11.-The Bank of Commerce closed its doors to-day.
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AS A MATTER OF PRECAUTION The Bank of Commerce, New Orleans, Closes Its Doors. New Orleans, Sept. 11.-The Bank of Commerce closed its doors today. The Bank of Commerce was organized in 1887 with a capital stock of $100,000. William P. Nichols, nephew of Chief Justice Nichols of the supreme court, is its There was a great crowd president. about the bank building shortly after the doors were closed. It is stated the doors were closed as a matter of precaution, there having been a run on the bank yesterday. Depositors, it is understood, will lose only little.
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The Fourth Since the Financial Fanis Begun In New Orleans. New Orleans, Sept. 12-The failure in rapid succession of the American, the Union and the Mutual banks, all national institutions, and the very strong evidence in the case of the first two of crookedness, had the effect of causing a somewhat panicky feeling. The Associated banks, however, had anticipated this, and took precautions which somewhatichecked the panic. Thursday morning a very heavy run began on the Bank of Commerce, a state institution, which has a large number of depositors, doing the business of the Homestead associations, and all day long a swarm of depositors crowded the building. The bank paid all who came, and it was announced that the Whitney National and the other banks proffered the Bank of Commerce all the money it needed. The Bank of Commerce failed to open its doors yesterday. The Bank of Commerce was organized In 1887, with a capital stock of $100,000. William P. Nichols is its president. There was a great crowd about the bank building shortly after the doors were closed. It is stated that the bank was closed as a matter of precaution, there having been a run on the bank. Depositors, it is understood, will lose but little, as the bank has a surplus of $57,000.
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New Orleans, La., is having a time with its banks. Four of them closed their doors in the past four days. The bank of Commerce was the first to go to the wall and the three others followed by runs being made on them. The people of all classes are heavy loosers, but will be paid their money back in time.
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New Orleans, Sept. 12.-The Bank of Commerce was organized in 1887, with a capital stock of $100,000. William P. Nichols, nephew of Chief Justice Nichols, of the supreme court, is its president. It is stated that the doors were closed as a matter of precaution, there having been a run on the bank Thursday. Depositors, it is understood, will lose but little.
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The Bank of Commerce of New Orleans, suspended on the 11th.
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Two of the individual bookkeepers of the Union National Bank, of New Orleans, which suspended on Wednesday, were arrested charged with falsifying the books and accounts. One of them has since committed suicide. "Suicide is confession" said Webster. The Bank of Commerce in New Orleans has also closed its doors. Also the First National of Helena, Montana.
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BANK-WRECKERS IN NEWORLEANS CAPITAL AND SURPLUS OF THE BANK OF COMMERCE WIPED OUT-OVERDRAFTS OF MORE THAN $300,000. New-Orleans, Sept. 23.-Another sensation was sprung this afternoon when the liquidators of the recently suspended Bank of Commerce came into the Civil District Court with a report. They find that the affairs of the bank have been mismanaged; that some of the accounts have not been properly kept, and that grave irregularities have been committed. The overdrafts amount to more than $300,000. The bank is insolvent and its capital and surplus are lost. All that can be accomplished under most favorable circumstances will be the payment in full of deposits and bills payable by the bank. This, however, is not certain.
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ANOTHER SENSATION SPRUNG In Connection With the New Orleans Bursted Bank. New Orleans, Sept. 23.-Another sensation was sprung this afternoon when the liquidators of the recently suspended Bank of Commerce came into the Civil District Court with a report. They find that the affairs of the bank have been mismanaged; that some of the accounts have not been properly kept and that grave irregularities have been committed. The overdrafts amount to more than $300,000. The bank is insolvent and its capital and surplus is lost. All that can be accomplished under most favorable circumstances will be the payment in full of depositors and bills payable by the bank. This, however, is not certain. There are some ugly rumors afloat reflecting severely against certain of the bank officers,
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OVERDRAFTS OF $300,000. Further Discoveries of Fraud in One of the New Orieans Banks. NEW ORLEANS. Sept. 23.-The liquidators of the recently suspended Bank of Commerce came into the Civil District Court to-day with a report. They find that the affairs of the bank have been mismanaged; that some of the accounts have not been kept properly. and that grave irregularities have been committed. The overdrafts amount to more than $300,000. The bank is insolvent and its capital and surplus is lost. All that can be accomplished under most favorable circumstances will be the payment in full of deposits and bills payable by the bank. This, however, is not certain.
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NEW ORLEANS, Sept. 24.-Messrs. Reynes and Bush, receivers of the Bank of Commerce, have filed a report in the civil district court in which they state that grave irregularities have been committed, and that the overdrafts amount to more than $300,000.
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At New Orleans, La., the grand jury brought in seven indictments for embezzlement against President Nicholls and Cashier DeBlanc of the suspended Bank of Commerce. The specified charges are that they at various times embezzled sums of money that had been deposited in the bank. Beginning on July 23d, 1893, when they took $23,500 and from that time until February, 1894, an aggregate of $96,000, is charged to have been taken by them. They have been arrested and are in the custody of the sheriff.
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ARRANGED PARAGRAPHICALLY FOR THE BUSY READER.
Happenings Both Home and Foreign as Taken From the Latest Dispatches.
Notes From the South. The tugboat Dauntless, held at Brunswick, Ga., on the charge of filibustering, has been released on bond.
The Southern railway reports for August the gross earnings of $1,442,001, a decrease of $109,551; net earnings of $420,908, decrease $44,425.
D. Silver, a prominent merchant of Sparta, Ga., was assassinated on his way from his store shortly after dark. The murderer made his escape.
Dr. W. L. Ryder, who assassinated Miss Sallie Emma Owen in Talbotton, Ga., on the night of April 5th has been convicted and sentenced to hang January 15th, 1897.
At New Orleans, La., President Nichols and Cashier Deblane, of the lately suspended Bank of Commerce, have been arrested. They gave bond in the sum of $500 each.
Reports received from all sections of Texas indicate that the cotton crop has been seriously damaged by heavy rains. Cotton was full flown and hundreds of acres are washed clean.
A tremendous cloudburst struck the town of San Marcos, near San Antonio, Texas, and washed a large portion of the town away. Several people are missing and it is believed they have been drowned.
Capt. George H. Berry, of the Effingham Hussars, a company of the First Regiment, Georgia cavalry, was assassinated while on his way from Savannah to his home in Effingham county, about three miles west of Savannah.
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SENSATIONAL DEVELOPMENTS LOOKED FOR IN THE CASES TO-DAY. New-Orleans, Oct. 13.-The Grand Jury late this afternoon returned eleven indictments in blank, but they are understood to be against the officers and directors of the suspended Bank of Commerce. It is said that sensational developments will follow to-morrow. The indictments against the directors are under Section 877 of the Revised Statutes of Louisiana, which relates to officers concealing the failing condition of a banking institution.
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Stole $300,000 From the Bank Another sensation was sprung at New Orleans the other day when the liquidators of the recently suspended Bank of Commerce came to the Civil District court with a report. They find that the affairs of the bank have been mismanaged; that some of the acounts have not been properly kept, and that grave irregularities have been committed. The overdrafts amount " more than $300,000.
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Six Per, Cent. Gold Bonds The liquidators of the Bank of Commerce of New Orleans hold, among the assets of the bank, $10,700 bonds of the Cordova Coal, Land and Improvement Company. The total issue of these bonds was $76,550, of which some $1,500 have been retired. They are secured by over 20,000 acres of coal lands in Walker and Jeerson counties, Alabama, within thirty miles of Birmingham. Some of these are among the finest coal lands in the state, and the whole are worth from $300,000 to $400,000. A $600,000 cotton mill is in full operation on land given by the Cordova company and next to its present holdings. Interest at the rate of 6 per cent. is now running on the bonds, the first semi-annual payment being due in January next. The liquidation of the affairs of the Bank of Commerce has proceeded to a point which makes it desirable that the bonds held in its assets be sold, and the liquidators are prepared to receive bids for them for cash. They certainly offer a fine chance for a good investment in these days when many cities sell their 31/2 and 4 per cent. bonds at a high premium, and the 5 and 6 per cent. bonds of large corporations throughout the country are readily sold above par. Parties interested re invited to address Messrs. E. H. Reynes and R. G. Bush, Liquidators Bank of Commerce, New Orleans.