Newspapers / Wilmington Morning Star (Wilmington, … / Nov. 26, 1891, edition 1 / Page 1
Part of Wilmington Morning Star (Wilmington, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
-?. isa :;---,-:-- ,-:,r-' By WIL IiIA.31 S. BERNARD. PUBLISHES. DAILY EXCEPT MONDAYS. ' KATBS or SUBSCSIPTIOO, M ABYAMCS . i'i ll ; One Year (by Mail), Postage Paid. .$6 00 Six Months, " " .............. 8 00 Three Months, - " 1 60 One Month, " - " .60 f3F To City Subscribers, delivered in any part of the City, Twelve Cents ner week. Our Citv Aeents are not authorized to collect for more than three months advance. -X'" -; - -f. . . ' M . . . Entered at the Post Office at Wilmington, N. C, as Second Class Mail Matter. . OUTLINES. S A MOKNINGr iilii VOL. XLIX.-NO, 56. WILMINGTON N. THURSDAY NOVEMBER 26; 1891. WHOLE NO. 7.767 NEW ADVERTISEMENTS. C0N0LEY MURDER TRIAL The Russian Foreign Minister assures- Germany of the peaceful intentions of France and Russia. . - - The new Government in Brazil is ; in sympathy, with the dominant party and everywhere . the change of President meets with ap i proval and satisfaction. .:Vi A black mailer who threatened the lives of and numbered many titled -.- ladies of : London among his victims, was sen tenced to twenty ye?s penal servi tude. - -The Massachusetts r mem bers of the Republican ; National Com mittee say Blaine will be nominated for the Presidency practically without op-, position unless he positively declines before the Republican Convention meets. Steamer Vigilancia at New York fro-azil, reports several of the crew stnc&en with yellew fever. The Grand Ducal theatre at Oldenburg. Ger., was burned Tuesday ; night. New York markets: Money easy; at Z, Per cent, closing offered at 3 per cent.; cotton steady; middling uplands 8 cents; middling Orleans 8 cents; Southern flour dull and weak; wheat dull, and weaker No. 2 red $1.04 in store and at elevator, and $t.063 1. 07 4 afloat; options closed easy; corn inegular and quiet; closing steady; No. 2, 75 cents at elevator and 76 afloat; rosin dull but steady; strained, common to good $1.351.40; spirits turpentine dull and weak at 3535J cts. Lightning struck a gas reservoir in Washington Monday. When Congress is in session Congressmen should remember this. That Shelby ville girl who is eating dog to cure consumption has started on her third dog. She sticks to it with dogged resolution. The McKinley act has increased the tariff on pickles thirty per cent There is no wonder that pickle eaters should sour on the Republican party. In the last State elections the Democratic gams were principally in the rural districts, which shows what the "campaign of education" is do ing. - Manufacturing mummies seems to be a paying industry in Egypt. The museum of Berlin has just discovered that a lot it paid 800,000 marks for was a put up job. Brown & Roddick Carpets. H. L. Fennell For W. W. W. " Munson & Co.-Gents'wearing apparel LOCAL DOTS. . jftems of Interest Gathered Here and There and Briefly Noted. Our Raleigh letter is again crowded out. ; ' . The market house will remain open this morning till 11 o'clock. y Mrs. Donald McRae has very generously remembered the old soldiers by a donation of $100 to the Soldiers' Home, - '. -. " - A shower at 12 last night called forth many a sad ejaculatory "umph" from the pectoral regions of prospective sportsmen. '"- ; " a The Orton and S. H. Fishblate's store give North Front street a Welcome Week appearance in ' advance by their artistically "fetching" decorations. A band of ten pieces, composed of mrabers from the Germania, Second Regiment and Southport bands went up to Clinton yesterday to play at the fair there. - Work or the Welcome Arch, to span Front street at the intersection of Princess, is well under way, and when erected will be a thing of beauty, if not a joy forever. If wild game of all kinds be not bagged to-day, they will be mon strously "skeered." Everything that can pull a trigger will blaze away at something if it doesn't rain. Justice Bunting tried Maggie Epps, colored, for disorderly conduct, yesterday; M. Bellamy Esq., appearing for the State and A. J. Marshall, Esq., for the defence. There was a judgment of guilty, and defendant was fined $10 and costs. : . The Sunday School children of the First Presbyterian and St. Andrew's congregations met yesterday afternoon in the First Church. Mr. P. Mclntire presided, and short addresses were made to the children by Rev. Dr. Hoge, Rev. Alex Sprunt, Major T. D. Love and Mr. Mclntire. Mrs. A. A. Willard, for the La dies' Benevolent Society, has addressed to Col. F. W. Kerchner a note thanking him for acheck for $25.50 sent as Chair man of the Capt. W. H. Bixby Compli mentary Banquet Committee. This money, she says, will relieve many suffering from cold this winter. MORE TESTIMONY- FOR THE STATE. According to the official count Roswell P. Flower's plurality m New York City1s59,502, which is getting pretty close to the 60,000 predicted before the election. A Republican remarks that "the President issued his Thanksgiving proclamation without a single hint at politics." He has had more politi cal hints than he wants lately, PERSONAL PARAGRAPHS. Pertinent Paragraphs Pertaining Princi pally to People and Pointedly Printed. Jacob Duval, a Baltimore burglar, is of a placid, happy frame of mind. He slept soundly through his trial last week and had to be waked up to hear the sentence passed on him. The fact that the German Govern ment asks for an extraordinary credit of over 100,000,000 marks to provide the army with a new field gun, is not one of the assuring signs of peace. '. - .- The man who walks the floor nighto expostulating with the baby may find comfort in the thought that he is not the only one, as there are 36,000,000 or 37,000,000 babies born every year. - ; Gen. John- H? Rice, of Kansas, the father of the third party, says it has been so mutilated by thqmen who have been running it that he de clines to recognize it as to is pro geny. " y-":.-...'-"--:x'v: Lv. A Kansas man has discovered that throwing dust in the air will Jring down rain. But the way things have been going in Kansas for some years it isn't every man that can ''raise the . dust" to do it." ; ; Another real Sir Roger Tichborne has hen found in Australia, and they found him in an insane asylum. The woman who found him is taking him to England, where he will ; prob ably wind up in another insane asylum. -" It t ook a verdict of $5,147 to shut up Sam M. Shutt, who had a leg am putated on the Cumberland Valley Railroad. Sam was lucky it was his leg and not his head which was cut off. If his head had been cut off he wouldn't have got a dollar. Mr. O. W. Scott, of Magnolia, was busy yesterday with wholesalers. Mr. S.'B. Hall, of Hallsboro, Columbus county, was in the city yes terday., Mr. N. G. Wade, a merchant of Latta, S. C was in the city yesterday, adding to his stock. . Mr. R. B. Leonard and Thomas Lewis, of Shallotte, are" buying whole sale goods in the city. -- ': Messrs. Louis Marines, of Ma rines, and J. H. White, of, bhallote, are in the city, bargaining with jobbers. Messrs. J. R. Ward, of Town Creek, and J. W. Brooks, of Tub's Inlet, Brunswick county, -are renewing pur chases for their stores in the city. ' Messrs. C. A. Durham, Balti more; J. C. Ulmhorne.- Springfield; James Hall, Philadelphia; G. G. Bow den, 'B. D. Hasell, E. M. Bach, J. H. Cohen, J. Bistel, New York; R. R. Hal liday, Richmond; J. E. Robbins, Vir ginia; Wm. B. Starkoff, Baltimore; B. F. Scribner, New Albany, were among the arrivals at the Orton yesterday. The following were among the arrivals in the city yesterday : T. B. Galloway, Goldsboro ; . . S. Fairly, Charleston; H. C. Canaday, L. C. Mer nmon, Jacksonville ; B. Williams, Bur gaw ; W. H. Shearin, Castle Hayne, E. B. Borden, Jr., Goldsboro ; P. D. Small, Charlotte; Mrs. W. B. Goodwyn Jack sonville ; H. I. McDuffie, Fayetteville ; R. E. Lee, Laurinburg ; R. D. Caldwell, Lumberton ; Dr. F. H. Heath, Fayette ville. : Weather Forecasts. The following are the : forecasts for to-day: For Virginia-and North Carolina Fair weather, nearly stationary tempera ture, variable winds, increasing 'cloudi ness; possibly warmer, with light rains Friday. ' - ' For South Carolina, Georgia and East Florida Cloudiness and rain Thursday, reaching the northern portion of South Carolina and Georgia in the afternoon. Easterly winds, stationary temperature; cloudy weather and rains are probable Friday. There are indication of storm devel opments in the East Gulf. See ether local on fourth page.- Examination of Witnesses Closed-and . Court Announces that ArRuments Will be Heard Mo Holiday Becesa Taken. . ' f Star Correspondence . Fayetteville, N. C Nov." 25. There's many a Thanksgiving turkey in the good old counties of - Robeson and Richmond, but the chances are that there will be vacant seats at he old homesteads herej'and there when the dressing and the giblet stews are passed around, for it is not believed that there will beany adjournment of court for the observance of Thanksgiving Day. Counsel may now be observed when ever there is a -moment of leisure studiously reviewing their notes, or Sit ting with arms folded, plunged in reverie. Oratory is being crvstalized, and elo quence thrilling distilled in the alembic of the profound legal maid. There are, altogether, ten lawyers, and if His Hon or gives them the scope whfch may pos sibly be desired Cumberland Court will not close until the-late hours of next Saturday night. . D. E. McNairt: Conductor on the C. C. R. R.; on duty April 21st; left Laurin burg 6 a. m., and went through to Wil mington that day; saw defendant come from his father's residence to the depot; shook hands; defendant said he was go ing to Alma with witness; remember prisoner getting aboard train; didn't see prisoner, or have conversation with him, between Laurinburg and Maxtcn. but saw and talked with him between Max ton and Alma. Cross-exafninedHever told Capt. Elmore I saw defendant get off train at Alma, and go directly to depot ot Maxton. L. R. & Alma R. R.; thought it about 7.10; when the train ar rived at Alma; cou dn't remember how many passengers I had the morning of April 21; A. J."Cottmgham was on the train, and got off at Maxton. Records of C. C. R. R."Co. put in evidence, and showed two first-class passengers be tween Laurinburg and Maxton, on the train to Wilmington. April 21st. Didn't carry defendant to Wilmington; thinks he told Elmore at this term of court that he carried defendant to Alma. Dr. R. F. Lewis : Character of Capt, McNair is good. Cross-Examined Held inquest on the body ot Simeon Conoley theday after the killing ; saw and talked to Effie Conoley that she didn't say anything to witness about the murder ;. witness asked any member ot the family to make a statement, as he wished to get all the information possi ble; inquest held in Eme Conoley's presence; was told that Ed. Conoley was. the only one who went out to the fence to see the man who'hailed; didn't ex amine Effie Conoley, because she didn't seem to know anything about it. Ver dict of coroner's jury produced in court that Simeon Cono'ey came to his death by two pistol shots in the head at the hands of a man calling himself Lum Johnson. R. McCaskill and W. D. B. McEach ern recalled: Both testified that Capt. McN air's character is good. Horace Jones : Work on Capt. Mc Nair's freight train; the tram started from 6 a.; m. April 21st; that morning saw conductor and McDougald talking together; defendant got on train, hav ing something like a rubber coat on his arm and with a package wrapped in paper; knows defendant have traded with him. Cross-Examined One or two other passengers were on the train whom witness did not know; saw de fendant get off at Alma; didn't know where he went from there; it was some thing after 7 o clock when the train reached Alma. J. F. Roberts testified to the charac ter of defendant and witnesses. J.P.John. Jr.: Live at jonns sta tion; character of Edgar Gillespie is pretty mean. Defence was here permitted to sub mit evidence given at Mill Prong, as follows : Sallie Wilkes : Saw a man April 21st, fourteen miles from Conoley's, on the public road, 'about thirty yards off; looked like- a negro; had a duster, a broad-brimmed hat, and a valise strapped on his shoulder, hanging down on one side; couldn't tell whether he had beard; was tall and slender tall as Simeon Conoley: wore dark pants. Henry Smith: Saw a man April 21st; not like anybody ever saw before ; wore a long duster, wide-brimmed hat. long mustache, little beard under chin, on opposite side of road; saw him in Cobb s lane, about 2 o'clock; had on spectacles; slim, tall man ; had a valise on shoulder with stick run through it. r Harriet Humphrey : - Saw a man pass on the road April 21st; was a black man ; took him to be a negro ; tall and slender, had on duster, wore glasses,had package on shoulder, - oil cloth coat ; about 2 o'clock when he passed the house. TM miles frm Shannon. TThis is testimony of above three wit nesses at preliminary examination. Re porter. : r Etne Conoley being unable to , get to Court on account of feebleness, counsel and jury went to witness at the Martin House, and the following testimony was taken (Court being adjourned for the noon recess) : Can see pretty well, though sight is not a3 good as it has been ; the man who went off with Sim eon was ten steps from the house ; a bright moon was shining that night; can see the eye of a needle, but hands shake so badly ; couldn't thread it; saw the man distinctly ; the day Daniels, the in surance man, came to the house it was late in the evening, before dark ; ate supper there that night; uritnpss was in bed when Daniels talked to her: daughter Lizzie was the rnW nne rnuid cooiL and she . couldn't from the insurance man ; the had been searched -couldn't say when, hut it was after the murder, and before Lumberton court; Arch' Graham, K T.each. Norman McLeod and Millard Moore made search for the clothes turned over the beds, opened trunks, .examined, cribs and smokehouse; never made a statement different to the one at this court:" at the coroner's inqust Dr. Lewis never asked her to testify. Cross- Examined-Wzt sitting slanting irom the door, not far away from 'the fire place on the night : the man called and Simeon was killed; chimney at the west end of thef house, in the centre; had to look slanting out of the door; a negro named Tom McKae : resembles the man who went off with 'Simeon, but didn't think he troubled anyone; didn't see the man when he came up to the paling; nobody went out but SiroeonTand Ed win, a little boy; Dan Conoley was there that night; couldn't say ; what was the' color : of the man's coat; noticed - the . wind blow it about him; when he caught it up, witness seeing to his hips; didn't notice the color"T5f hair; couftin't say whether he wore beard or not; Dr. Lewis came to, the nouse tne day after the " murder, but said nothing to her, only shaking hands; the .inquest was held in the house; D. B. McLauch lin came before Dr. Lewis, and express ed compassion ; for what witness had undergone; remembers Edwin McNeill's summoning her to court, j ' ; ". Special Star Correspondence. D. B. McLauchlin: Live near An tioch, : two and a half miles from the scene of the murder: heard of the mur der on the evening of April 22d; went over at once and had a conversation with Effie Conoley; went to investigate the murder; expressed sorrow for Mrs. Conoley, who said her cup was full; asked her if she saw a disguised man, and she replied in the negative; that no one saw him but . Simeon and Edwin; that Lizzie "glimpsed" him. Diagram "here exhibited, showing location of the dwelling, the chimney, door, kitchen, well, gate, and the point where Conoley was found. Reporter. Didn't think any one going from the well to the point where Conoley was killed could have been seen by any one sitting on the south side of the dwel ling; am acquainted with the location of the premises; Effie Conoley told witness she was sitting near the fireplace; one could hardly have seen anybody passing sitting where she said she was; know M. A. McDougald father of defendant; had seen John McDougald, but didn't know him; defendant hasno other brother; know Lizzie Conoley. Cross-examined Did not make the plot and diagram; am not positive that they are what they purport to represent ; thought the kitchen properly represented in the diagram; the path bends before the building; couldn't say the dwelling sat in the middle of the yard; the plot was not made by measurement; witness knows if Mrs. Conoley was sitting in the southeast corner of the room she could not have seen any one walking from the well out to the spot of the killing. E. A. McNeill: Live in Robeson, about one mile and a quarter from where Conoley was killed; saw Mrs. Conoley previous to Robeson court; said she didn't know why they examined her: she knew nothing. Cross-Examinedhm the well is between the house and the gate; the kitchen is southeast of the house; one sitting in the southeast cor ner of the house couldn't see anyone walking on the path. Geo. Cole : Am doing business ' in Richmond county; April 21st carried timber down the creek to Alma and stopped at McKay's store at Campbell's bridge, where he bought crackers; didn't know Conoley; never left the pants, lampblack, shirts," &c, such as were found at Campbell's bridge; thence at 10 o'clock went to the place of work up the river; had one hand with him that night. " Malloy McBryde: Live about two and a half miles from the scene of the murder ; know the premises of Conoley have frequently been in the house; the chimney is m the west end ; the house sits east and west; impossible for any one sitting in the southwest of the house to see one walking the path to where Conoley was killed. Cross-Examined. Any one sitting in the south west corner, nearer the door than the fire-place, could see one ,in the path ; was a path leading from the well to a house supposed to be a crib; the night of the murder was a calm night. - E. t . Crows on: Live at Maxton; saw McDougald Wednesday in Maxton; wanted to rent a house; his shoes were dusty and muddy; it was about 10 or 11 o'cIock; defendant got on he Laurin burg train twice; got defendant oranges, who said: "Did you ever feel like you wanted anything and nothing would sat isfy you?" Cross-Examined Shoes looked muddy, lived at Maxton two years. . '-' ' ': "' :"' D. E, McBryde: Live in- Robeson, about eight "miles from the scene of the murder; was one of the magistrates in vestigating the murder, and know noth ing ot threats of lynching; defendant saw ' McDougald at his house on Wednesday, before he - left the country; defendant said nothing about clothes;' witness remarked: "Millard Moore or the public has saddled the crime on you;" defendant re plied: How's that?" Witness respond ed that it was believed that the man who got on the train at the water-tank was the murderer; that . defendant was accused of poisoning his -uncle the Fall before. Defendant said he could prove his whereabouts; - was at Maxton that day; and took the train back to Laurin burg. Asked, witness if he didn't think he had better go home; : witness p!ied: Yes, and work up all the evidence against Millard Moore , and others charged." Defendant . asked if wit ness ; had any further use ,. for him and he replied not, unless . more came against him; defendant hitched up and left, with Jno. Conoley. This was - the evening ot the night the clothes were stolen. Cross-examined Spoke joking ly with defendant; John swore out war rant against Moore at ; witness' request: M. A. McDougald employed counsel to prosecute Kelly, charged with the mur der. '''-VWJ'-iP-vo'-:: : U 'l- : Ed. McRae: Live at Maxton; heard of no threats against the defendant be fore or after he left the county. Alex McKinnon: The characters of Hector Gilchrist and John Williams are good. . . J The examination for both sides closed and announcement was made that the Bench would hear; arguments to-morrow. - ;: .' ; ....'-'."- ;-;." Adjourned. BANK FAILURE. LIST OF CON i RIBUTORS. Subscribers to the Fund for Wilmington's I Welcome Week. : Adrian & Vollers, I T&G D Alder man J W Atkinson, Austern & Salky, Acme Manufacturing Co., B H J Ahrens, Alderman & Flanner, Atlantic Coast Line, Sol Bear. Sol Bear & Co, R R Bel lamy, Brown & Roddick, Brady & Gay lor. Bonitz House, Bank of New,Han over, Wilmington Savings Bank, Burr & Bailey, J D Bellamy. Jr, T F Bagley, M BellamyBoney & Harper. S Behrens, Bridgers & Rankin, Sam'l Bear, Sr, M Bear & Bros. H Cfonenberg, P Christ, Chestnut & Barrentine, M F Croom, W J Croswell, Clyde Line, C C R R Co, C F & Y V R R Co. W M - Cumming, T C Craft, Calder Bros, Cronly & Morris, C C Covington, Carolina Oil and Creosote Oil Co, John E Crow, Carolina Rice Mills, Qarendon Water Works Co, W B Davis. L W Davis, M J Dinglehoef. M T Davis, A David, H C Evansr Owen Fennell, Jr, Fowler & Morrison, S H Fishblate, Fore & Foster, Fillyaw & Scbulken, Fayette ville Steamboat Co, H L Fennell, G R French & Son, J G L Gieschen, I L Green wald, Glameyer & Kuck. Gleaves Hardware Co, William Goodman, R M Gilbert, W I Gore & Company, W H Green & Co, Giles & Murchison, R H Grant & Co, W M Hayes, Jr, Geo Harms. Son & Co, Hall & Pearsall, Geo Honnett, P Heinsberger, Geo W Hug gins, Holmes & Watters, M J Heyer. Hansen & Smith, P H Hayden, Hodges & Taylor, R F Hamme. R W Hicks, J H Hardin, Industrial Manufacturing Co, J H Johnson, Jacobi Hardware Company, J H Jones & Son, B F Keith, M M Katz & Son, B F Krupp. W R Kenan, H H Kasprowitz, T D Love, Munson & Co, W G Mc Rae, J S McEachern, R M Mclntire, S P McNair, Neill McKinnon, Geo L Morton, Mercantile Association of the Carolmas, John Maunder, McNair, & Pearsall, W A Martin & Co, Marlboro House, Iredell Meares, J I Metts,. J Naumber, Navassa Guano Co, Martin Newman, New York Bargain Store, S & W H Northrop. T D-Nutt, Orton House, R C Orrell, D O'Conner, W L Parsley, B F Penny, R H Picket, E J Powers, Paterson, Downing Co, W J Penny & Co, Purcell House, Port ner Brewing Co, Rhodes & Bowden, J B Riley & Co, M Roseman, Geo Round tree, A G -Ricaud, F Rheinstein & Co, S W Sanders & Co, S W Skinner, S & B Solomon,: I bhrier, J A Springer, Smith & Boatwright, A Shrier, Smith & Gilchrist, R N Sweet, Alex Sprunt & Son, S A Schloss ot Co, bneed a o, Mrs C B Southerland, W E Springer & Co, J C Stevenson & Taylor, J C Stout. J H Taylor, H A Tucker, Taylor's Bazaar, The Wilmington Messenger, The Morning Star, H VonGlahn, L Vollers, Vollers & Hashagen, E Van Laer, T A Watson, W A Whitehead & Son, J Weill, Williams & Robinson. Wilmington Gas Co. West & Co, M S Willard, W E Worth & Co. E Warren & Son, Watters & Quince, Worth & Worth, W, O & E C R R Co, Wilming ton Paper Co. W H Yopp, C W Yates. RIVER AND MARINE. " Collision off Frying Pan Shoals. Mr. Dosher, in charge of the Signal Service office at Southport, telegraphed yesterday afternoon : "The schooner Norman, Capt. Henderson, from Savan nah bound to Baltimore, loaded. with lumber, was run into : by the steamship St. Augustine Tuesday night to the east ward of . Frying Pan shoals. The schooner was towed to the bar by the steamer and was then taken by the tug Alexander Jones and passed up for Wil mington. The schooner had her bow sprit and jib-boom torn away, and the whole forward part stove in"; No lives were lest and no one was injured in the collision. After bringing the schooner to the bar, the steamship kept on her course. THE vFIRST. NATIONAL BANK . SUS- ; . PENDS AND. CLOSES ITS DOORS. Tne ; News Surprising, ; but - Excitement Allayed by the Understanding that Depositors " were Safe Other . City Banks Unaffected Official Statement Opinions of Prominent Men Business but Idttle Disturbed. ; ;" j ' The doors of the First National Bank closed and the following placard promi nently displayed attracted a crowd and caused considerable excitement yester day morning: : : ' ' "-"In consequence of the stringency in financial -affairs and their inability to meet further demands, the directors' of this bank have decided in the interest of all concerned to -suspend business until turther notice. 7 Crowds congregated on the portico eagerly perusing the absorbing legend and swayed down the steps and hung in knots on the - sidewalk; All were in tently discussing the situation and won dering what was to become of depositors and their earnings. The gloom of fear, however, was soon dissipated and a gleam ot hope illumined despairing faces, when the in telligence was promulgated by the better informed that depositors were safe, as in the event of the fail ure . of the bank assets the stockholders could be assessed to an extent which BAIES OF ADVERTISING. One Square One Day.. ................. 1 08 '",": y lwo uays. J Vt - ; Days..V,, 8 00 --, i' ne M,'-v,,"",?:,"; 00 : . T,"0 Weeks. ...... 8 CO ry; Three Waeks , . . . . . ...... ....... f 8 0 - One Month.. 10 00 i : Two Months .......18 00 . K Three Months. 84 00 , . bix Months... ........,.;. 40 CC; One Year. 60 or- Contract Advertisements taken at proportion i ately low rates. 7r "'-.-':. ' .,- v' -j. V;'"'-.-: Ten lines solid Nonpareil type make one square.' . ' slight; and that no other bank in this .?; ' : city, or State will be in any way embar- rassed by the failure.-; - '--'-'i ---CC'MWi GEO. R. FRENCH & SONS, " '. Messrs. W. A; French, President of ' " ,: Wilmington Cotton Mills, and Geo. R. French, both comprising the firm of Geo. R. French & Sons, said in their --. - estimation the damage to general busi ness will be the locking up ofbanking capital and the decrease cf banking facilities; beyond this they do not think business will be materially' affected With good management depositors will eventually be paid in full, without the stockholders being assessed. -r The failure dated backseveral years, " when the losses by personal" securities were very, heavy, and the bank had never recovered. . They were informed that no one of the directors was in debted to the bank, and they did not think the stockholders would realize much after the business was settled. If its debtors should be forced to an im mediate settlement with the bank, they might be crippled and some failures result and in this lies the chief danger, though they do not apprehend such results. The ef fect of the failure is worse now than it will be later when it is seen there is no great general injury. Other banks will be helped rather than hurt. - RICHARD J. JONES. Mr. R. J. Jones, Chairman of the City Board ot Audit and Finance and Secre- would cover all deposits, It was the one great only and absorbing theme on J tary and Treasuier of the Wilmington the streets, in hotel lobbies and in count ing rooms. How far reaching the in jury to business interests extends aird upon whom the loss would fall was con jecturally canvassed. The officers of the Bank could not be seen in the forenoon, ;but a little later the directors gave to the press the following - official statement: The following statement is authorized by the Directors of the Bank : The causes which led to the suspen sion of the First National Bank have existed a long while. The capital was impaired by heavy" losses several years ago, as is generally understood from the fact that no dividends have been de clared since 1887. 1 The Directors hoped that by careful and conservative management the earn ings of the Bank would be sufficient in a few years to- cover these old losses; but slow collections, in consequence of the general stringency prevailing in our section this Fall, have compelled them to abandon this hope and close - the Bank to protect the depositors, as well as the stockholders, against further risk." Notwithstanding the shrinkage in value of many securities on account of the general depression in business, it is hoped that the resources of the Bank under prudent handling wili yield more than enough to pay the depositors in full. . ' Respectfully, ; B. F. Hall, President. In lieu of giving an opinion of its own, the Star sought the estimate City Court. . Mayor Ricaud presided at the City Court "yestex day and disposed of the following cases : ' F. Reichter of the Palmetto Brewing Co. opposite the Champion Cotton Compress, charged with erecting a wpod en building within the fire limits, con trary to the ordinance, was allowed twenty days within which to make the structure fire-proof if not the building will be torn down. . - .' David Joshua, colored, for disorderly conduct, was fined $20 and cost, $2 75. 2 Sydney Bethea, a colored man' with several aliases, was adjudged guilty of perjury, and in default of a $100. bond, was committfd to the county jail. ,; , Bo ; Star To-morrow. As usual, Thanksgiving Day will be observed as a ' holiday by all the em ployes of the Star, and, in consequence, no paper will be issued from this office to-morrow placed upon the failure of the bank by prominent men of affairs, with especial regard to the effect on the business in terests of the city. , And it will be seen that no fear is entertained of serious re sults, either to other city banks or to general business. . WARREN G. ELLIOTT. Mr. Warren G. Elliott, President of the Wilmington & Weldon and other roads of the A. C. L. system, expressed himself as follows: Of course the failure of a banking in stitution of the importance of the First National Bank in bur community will be attended with embarrassments to many of our citizens who have been de pendent upon it for banking facilities. That its collapse should haye come so suddenly is most unfortunate, for the reason that it gave no opportunity to its patrons to protect jthemselves against sudden demands. It Is, however, for tunate that the deposits in the bank were comparatively small. Experience has shown in other cities that such fail ures, while they cause temporary em barrassment to some, generally result in general good to the business community.-. ;: : A city of the size and importance of Wilmington cannot expect to go ahead without proper banking facilities, and every thinking ; man will at once know that the place which has been occupied by a weak bank will soon be filled by a strong one. This is invariably the case, and there is no reason why it should not be so here. If the people of Wilming ton are prepared to stand the temporary shock and to look calmly at the situa tion there is no reason why we may not soon be in a better condition than ever before. ISAAC bates. Mr. Isaac Bates, when asked what he thought of the bank failure as it con cerned public and private interests, re plied that in his opinion the fail ure, of the First National . Bank has . been to a . great . extent : an ticipated, as it was generally known that it was involved in heavy losses some years ago, and its volume of business considerable reduced. On that account the failure is less injurious to the busi ness community. Depositors, of course,; will get their money after a time. Aside from temporary inconvenience to de- Gas and Electric Company,, thought de positors would be put to inconvenience : : : by their inability to draw out their de posits, and he saw no reason for sup- -posing that general business interests s would be injuriously interfered with. ' "He did not think that the - stockholders would be called on to pay depositors from their private funds, as the bank's i: assets would be sufficient. , If present -inconvenience should be felt, it would soon pass over. A little time would quiet everything, when sober second thought was taken and reason resumed sway. THOMAS EVANS. --'k Mr. Thomas Evans, a professional ac- , . countant, was of the impression that the : r bank had been so much damaged by -former losses and had curtailed its gen- -eral business to such an extent that it was of as much use to the public with doors closed as open. The depositors . --" would be paid in full after awhile per haps the first installment within sixty . days. It the Government does not close -up the business too suddenly and thus sacrifice securities, stockholders will realize present prices of stock. GEORGE W. WILLIAMS AND DONALD . . M'RAE. . These well known and influential business men give their views as follows: . The failure of the- First National Bank of this city will cause much inconve nience to many of its depositors, but from all we can gather we hope that there will be enough to pay them all off without having to assess the stock holders, and there is a reasonable proba- bility that a portion of the assets will be r realized on and paid to the stockholders : during the next two or . three months. This failure has. caused but little surprise in business circles here," as it has been : believed by many that it was only a question of time when such a pilmina tion must occur. We are convinced that the bank has been under safe, man agement and that the officers have done, all in their power to prevent or delay . such a disaster. As to the other banks in our city, we are satisfied that : they are under safe guidance and are pre- pared to meet any demands made upon them and to grant accommodations lo k, the customers of the First National who . are worthy of their aid. " There has been very little excitement -here and we see no reason why there should be any, and hope that all will act wisely and do mthingto precipitate 1 any further embarrassment, as the oppo site course would tend greatly to the injury of every industry in our city. . " LIABILITY OF STOCKHOLDERS. . .. The liability of a stockholder of a National Bank, condensed into the fewest possible words, seems to be this: Suppose the par value of 7 each share to be one hundred dollars," whoever sub- : scribes for a share pays that sum to- ; wards the capital stock. In the event of loss, such stockholder, if necessary to ' meet the obligations of the bank to de- positors and others, may be assessed i upon each share to the extent of one .; hundred dollars more. ... :;-;;;' The capital stock of the bank is $250,- . 000. ; The total deposits, according to ; the last published statement in Septem ber amounted to about $405,000. but this amount has been, very considerably reduced, it is believed,' within the last few weeks. . The present officers of the . bank are: B. F. Hall, President; G.' H. Smith; Vice-President; H. M. Bowden, Cashier, and B. F. Hall, G. H. Smith, lames B. Sprunt, James H. Chadbourn, and D. G. Worth, Directors. BANK OF NEW HANOVER. In consequence of the closing of the National Bank, there was a rush ot busi ness men to the Bank of New Hanover, yesterday, where - everything was as serene as a summer's day. These new customers opened ..accounts, deposited thousands of dollars, and received all the accommodation desired. This is very gratifying, as it; shows that the suspen sion ot the First National has created no panic whatever, and that the Bank of wt - . m "' t .tl Li:. ,New HanoverJ stands as high in public positors, he thought the interference i confidence as at any period or its ex- with the general business would De i istence.- . . i . Si I . y. i
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 26, 1891, edition 1
1
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75