The Nevada journal., 1855-03-02
Adams g. Co..
TO THEIR CREDITORS.

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Comments which have made on the closing of our
House, TO require that before presenting
creditors the proposition which is below should acquain
he public, friends already acquainted with the
which demonstrate that real causes of
pension not of our own making.
The stoppage of well-known and popular House is
misfortune and humiliation enough without having to
bear responsibility for the faults of others Had our pur
poses and efforts been seconded they should nave Dee
IN quarters where had right to expect II, the
calamity which has just overtaken the community would
never nave happened.
Such the relations of Banking houses to each Other
and such the of public confidence in banks that
without of mutual good faith and cooperation
at least general idea of each others
position no system of Banks conducted upon any large
and liberal principles withstand general crisis but
mus. fall together, in confusion and disaster
such as we have jus: witnessed
Tho Grst Banking house in the country cannot always
orsee Its position and ability through
crisis it ascertain, and ought to withhold from
those who have an interest and right to know. For
months leading banking house in This city has been
quietly strengthening itself and sustaining its parent
house elsewhere at the expense Of every other banking
house here, and especially The house of Adams &
Co hold to-day thousands of dollars in bills receivable
from merchants for indispensable accommodations
wherewth to meet their loans suddenly called in fer
which the hard cash has left our vaults.
Could have upon the arrival of the Nicaragua
steamer, February 4h of the protest of the paper
Page Bacon os St. Louis in Wall street. January 18th
the day of tho departure the Nicaragua steamer On the
other side that there appre hend such
lnishap, the ether banking houses, and Adams & Co,
Lmong them, could have prepared themselves for the
worst Even after the Page, Bacon Co, of this
city Saturday, February 17th had been possible by any
amount of diligence TO ascertain the true position of that
house, Adams Co, could then have prepered for
the wcrst, Unfortunately, it was not possible.
either from ignorance of its condition. or for some
best understood by itself that house only
lled the public and its friends with unfounded ideas
,ts strength and but imposed upon the anxious
rcruiny of the other banking houses 10 repeated
INQUIRIES to cntreaes the urgent house received
always the of the perfect ability Page
v Co. TO meet any run, Therefore it that did
here from all parts of the state
would nave done had the truth been revealed him
a 70 us On the contrary sent best rcsour
ocs, as forward dei into the interior Monday, Tues
di anl Wednesday of last week, than $3.50 600 in
o for the purch of gold dust alone for the weekly
shipment, while allowed another large amount of coin
be invested in bullion the way for the shipment
cro ihs freely expended The coin which was our
,-b.ccd in Efforts sustain that house, in redeem
ug their cerfcate throughout the State, and in every
ether way,
1nch condition when on wednesday night, Mt
hourour house nstounded by tho that Page,
Iac3n k.le. uHab.e TO go und would not again
open helr doors.
II which not only falsifed the repeated
md Eoomn given by that house, but which
tond destitute Of the preparations which, but for
ose assurances should most certainly have made-i
n event. toe, which aggravated in the highest
ce BY tao tone and temper cf the extraordinary cir
,IlrI ar1ict. announced 1t TO the public
Fc5 I'd uas day of general celebration an; hoped
with a larre amount of gold dust vuuls VIC could
tins a-;sis then evidently impending But between
ard n. Of that dny found n had quietly set In,
~ri.c! :9ot from in about two hours over S2OOO0O
coin, aud that unless supply of coin could
to rcpicnised, must to protect the rights of n
creditors The city and throughout the mines, close
<oors. Immediately. and all that night made every
for xhich men could everywhere In town, 10 procure
coin. Gold dust had; had my own private property
and tina properly of friends. which, with unparalleled
generosity they had placed nt disposal We offered
million quarter of dollars in the best securities In
..e world to raise lh Of tho sum in coin. Every
cisrt and every sacrifice were vain it could not be
,'one. The rest is known.
rncro acts which 1t Is painful fer 10 present 10
The public Hitherto haze withheld them ou; OF regard
tbtLc iecIngs Oh oincrs; alWiyS
high consideration But the evident disposon in
few qaarCfs 10 mIsrepresent misunderstood te mer-
is Of tho case has forced disclosure which could
not longer withheld without prejudice TO house
Those being .c ef suspension, desire to make
tho creditors the house throughout tho state the follow
lhg proposition:
Thlt within thirty days from this date the Receiver shall
ay them twenty five per cent in cash upon u claims
That the creditors shall receive the balance of their claims
(roIn Receiver fast he declare the dividends
for this purpose he shall be allowed to administer the
as promptly possible without hdrance md to the best
advantage fer the creditors and for the greater security OF
fe creditors that his present bonds, which are for one
on Of ollars 81 all be increased II deemed necessary
That Adams & Co. shall be allowed To resume their bus
ns us heretofore with snch mid they obtain from
StcIr friends and cusomer and in this connection am
deeply graed state that the whole body of our clerks
viii devotion TO the house which they have done so
luch tuid up, for which words can thank them,
volunteered and all their services for IN entire
wear without hire or reward beyond resubssence.
As desirable that should obtain promptly rs
possibly the Of creditors upon this proposition
Which confident Is for their best interests, and will
s,cure the early payment of their claims in full earn
esy request thcm TO notify US, Banking House In
Nevada, OF their assent thereto need not say how ac
ccphoe that assent will be, that shall endeavor to
rcGuiio II with the energy and fidelity of which
hope the Public has had proof in its fomor dealings
Win our house. II
ASK any one who has ever used
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