Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-24
EErTRELY SECURE,

/ savings banks, as lie felt asstlred that
their deposits ssefe
EEfTRELY SECURE,
and that a run during the present panic
! might possibly result in the loss of both
principal and interest OF the amounts
! deposited. The mayor said that in a
time Ike this any bank should have
time to realize upon its securities, so as
to enable 1t 10 meet the demands of its
| depositOrs. The effect Of the panic up
ON importing business, or the with
/ drawing OF goods from landed houses
FOR the current demands of trade, is
/ hardly perceptible AS shown by the
receipts of,duties Of the seventeenth the
amount received at the custoInhOuse
was SSS2, 600; on the eighteenth $685.
/ l0l; on the nineteenth 1882, 059; on the
twentieth 1878, 1853; on the twenty-sec-
ond S3S7, ,2S0. Mr.. Bailey, the new re-
1 ceiver OF banks of the commonwealth,
was at the bank to-day at an early hour
busily engaged examining the aceounts.
He stated that be was not ss yet suffi-
/ ciently familiar with the condition to
| give an account Of the property belong
| ing TO the bank, but was satisfied that
the depositors were fully secure. Furth-
er than this he could not say.
A sTUNNER.
The following private dispatch is
made public:
"LoNDoN, September q.
"Messrs. Jay Cooke, McCulloch & Co.
are throwing out drafts drawn by Jay
Cooke d Co., and which have come TO
hand since the news of the suspension
was received"
THE UNION TRUST COMPANY.
Further inquiry relative to the petition
in bankruptcy against the Union Trust
company, has ELECTED facts that Kendrick
& Co, brokers in Wall street, are pc
titioners and creditors, and that the petit
ton is based upon allegations that the
company refused to pay check of petit
tiOners for fifty-two thousand dollars, as
far back as the thirtieth, on tine ground
that the check had not been through
the clearinghouse, when in fact the
Trust company well knew it had, and
the Trust company had by collusion
with other parties endeavored in a most
unjust manner to embarrsss the business
Of petitioners. II petitioners succeed in |
having their petition granted, an as
signee in bankruptcy will succeed. Re |
ceivers are now in charge Of the compa. |
ny's assets. A director of the Union 4
Trust company said to-day that he had |
no idea when business would be resumed. |
Attachments had been issued against |
the real and personal property Of Chas.
T. Carleton,
THE MISSING SECRETARY,
and he thought the company would not |
suffer to a very great extent through mis- /
operations. He believed the securities |
held by the company were perfectly |
good. DR.. Thos. Carleton, father of C. |
T. Carleton, the Ascending secretary, |
was interviewed yesterday. DR.. Carle- |
ton was, it appears, in the Office of the
Union Trust company when his son took |
his final departure. "Cbarley seemed
said the doctor, "to be
VERY NERVOUS AND EXCITED
when he was not busy signing the
checks. He confessed to me several
times since his wife died that be has not
been himself; and l have frequently
found him weeping, while he has been
continually despondent and depressed
l supposed on the morning in question
be was thinking of his loss, being also
fiurried about the affairs of the company.
| talked to him earnestly; telling him
he should be cool and not excited. FL
nally, just before noon, Charley went
and got his hat, saying to me:
YOU MUST EXCUSE NE,
but it is necessary for me to go out for
a few moments; I will be back very
soon.' Surprising that he was going
out on business l did not attempt to stop
him. After waiting some time for him
to return, / went away. My son did
not, as has been stated, go to the safe
and take out a thousand dollars.
He could not have done so,
as the cashier pays out the money.
He did not even take his overcoat, and
nothing is missing from his wardrobe at
home except the clothes he wore. IL
can't understand why Charley should
have run away. He has friends who
would have made up any deficiency.
1t is my opinion
HE HAS BEEN CRAZY
since the death of his wife. "6eing ques-
toned as to the loan said to have been
made to him by his son, DR.. Carlton
said: "My business that morning was :
about these very loans. Some time ago
.he Trust company loaned me thirty
thousand dollars, for which I gave the
very best securities; and when l
heard of the failure the Union
bank went up there to offer
10 pay the loans if the company !
wished. I saw Mr.. Sehell, and he told
ne that it was not necessary. However,
)n Saturday, after banking hours, re-
,eived a notice, calling in the loans,
and this very morning paid fifteen thou
'and dollars, and would have paid the
-emainder, but one OF the checks 1 held
WAS DTSHONOREp
1y city bank because the institution
ssuiDg it had not that amount on de-
DOsit in the bank. This loan was not
made to me, but to my son, personally,
IS has been stated by the Trust COM
Dany."
"Do you know of any speculation
% which your son has been engaged?"
" Yes; have been told since bis de-
)arture that Mr.. Carleton had speculated.
He bought fifteen hundred shares Of Pa
,itic Mail and one thousand shares of
Western Union, but l cannot speak
definitely as to other investments"
" Do you think that Mr. Carleton took
any Of the missing securities or bonds
with him?"
" No, do not. was told by gentle
nan who was with my son at the time,
hat he went to one OF the downtown
lSnks where he had deposits and with
lrew two thousand dollarsn
Have you seen your son since Fri
lay last?"
"From She time he left my Office at
noon ON that day, l have neither seen
nor heard from bim, and have not the :
slightest idea of his whereabouts
PLENTY OF FUNDS.
Assistant Treasurer Hillhouse received
rom Washington this morning twenty
million dollars in greenbscks, to prevent
he possibility Of his becoming embar-
,assed in the purchase Of bonds.
WAITS.
The official statement Of the Union
Trust company viii not be furnished till
evening.
The associated banks will hold o
meeting tomorrow for the purpose of
making arrangements to issue another
so, 100000 loan certificate. The S10,-
10000 issued Monday has been ex-
Mr.. Meigs, the government examiner, {
sfter an examination into the affairs of !
he National bank Of the Common l
wealth, express confidence that the de- I
lositors will receive every dollar due
hem.
The president of the bank states that
here is no intention of making an at
empt to resuseitate the banks, as it is
elt that 1t would bs impossible.
NJ. P. Bayne & Co. have brought suit 7
against Geo. Ellis, an officer of he bank
'fthe Commonwealth, for forty thousand
lollars. The plaintiffs allege that they
procured from the bank a small loan
which has not matured, giving as Sc
,urity railroad bonds to the amount of I
orty thousand dollars, aud when they
the loan to the bank and de- 7
handed the securities, were informed I
hat they had been disposed of, and the |
proceeds thrown in the general assets Of /
he bank. I
RECIPROCITY. s