New-York tribune., 1867-08-15
THE UNADILLA BANK.

LARGE MEETING OF CREDITORs-AssETs AND
LIABILITIES OF WATSON AND HAYES-HOMI-
eide NEAR UNADILLA.
Prom Our Special Correspondent
UEADu.LA. Aug. II, 1867.
The recent failure of Watson g. Hayes, and
the consequent failure Of the "Unada Bank proves to
be Of the disastrous events which occurred
TO the people OF this country. The Bank OF 25
years standing and had enjoyed TO an unprecedented
degree the entire confidence Of the community.
NewYorh attempted TO break it, receiving at different
times over $4,000 over its counters. Since t successful
favor with the public The character and number OF tho
creditors may DE judged from the statement that although
Is only $4,000 by Mr. Prentss Of Albany no other losses
exceeding $4,000 The bank was rcsorted TO from all
parts Of the country, and you can hardly ind IN
this section a good farmer, or any knd OF bust
large excited meeting of the creditors took place at
EdsOns Hail this afternoon 1t was decidedly one OF the
has ever attended There we're bankers from New-York
and Albany; distinguished lawyers from abroad deter
veaed merchants manufacturers from the adjoining
towns farmers who had succeeded by long years OF labor
In laying up small surplus from their lnaniacture OF
butter and cheese old men who had sold their farms
and were living on the interest OF their money! heroes OF
the late WAR OF them Onearmed and onelegged,
who had lost their carefully DOuntcs mners and
dressnakels servant girls and day aborers widows and
orphans and the guardians OF nyads, for whom proy-
dent friends had provided what they had deemed b0un
tful support About 800 of these unnvi;od guests were
Jcyee" representing about SO0O00 OF the Indebtedness
ohdon for Pedn and Of D od Of UDhd for or
Secretary Speeches then made denunclatory OF tho
fraud and advising recourse to legal proceedings Mr.
Loom one OF the assignees, reported the following
an appro zimate statement OF tile condition OF the
finances OF tho assmecs.
Firm indebtedness OF Watson & Hayes s272O7 90
Individual Indebtedness OF Watson. 1903 %
Individual indebtedness OF Hayes............U U6l 90
Total. $685. 2u o.
Deducng what was charged both 1905 %
Real indebtedness .,a65G35 %
To pay the above, the assgnees have found 50 far,
property TO the value OF siGS97 The following losses
were reported: -
On Real Estaten Buffalo s2i5s 80
on Paper Mil Binghampton SiG6 90
From Leggett Co., New York 5lS7 06
From MAN, Banburn o...-.................. 4lll
Other Interest ..1yO99 W
silver Mine in Nevada 1900 90
Total losses sa5s5l 50
The assignees reported farm near Buffalo, valued 40
$4,000. but mOrtgaged for $1,000 some oil and silver
stock and an interest IN patent boardedger, out OF
which they hoped 20 something in addition TO tho
$4,000 reported assets 1t is probable from the above
that the claims Watson Hayes are worth about u
better condition The deposits washin gon viii redeem
the circulation, which is about $4,000 aud Leave $1,000
surplus Two gentlemen from the National Bank Burea9
OF the Treasury Department., Messrs. Hownsteln ana
Wade, who have examined into the CONDITION OF us
finances state that there Will probably be Itte lost Dy
the depostOrs in the bank
Resolutions passed by the creditors taxing them
selves One-Laf OF per cent 10 institute legal proceed
iugs against Watson & Hayes; also appointing commit
TO look 10 the interests OF the Creditors Great ndlg
nation expressed on the announcement that tho
signOrs had, within few months conveyed large por-
property their children and other relatives
An offer made 10 give up some OF ths property pus
IL generally thought that this Is only TO cover up other
schemes and induce the creditors 10 their declared
intention Of forcing them into bankruptcy under the Ma
tlonal law
Last saturday man named John De Forrest was shot
through the neck while az work his farm at ROgess
Hollow, about five miles OF here young man named
Rogers cOnIesses 10 have been the who shot him. but
claims that il was Academia. DE Forrest however,
seemed To thnk IL premedtated ana stated that
they had previously had quarrel and that Rogers had
threatened TO shoot him An examination was had be-
fore Justice Terry, who released Rogers there no
testimony that ne the shooting, except that OF
Rogers himself De Forrest has since died. leaving vito
and three children He Is largely and respectfully con-
nected throughout this section OF the State.