Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-03-21
FROM NEW YORK.

New York, 20. The suspension Oft Bull
heads bank, occasioned quite sensation to-
day. The bank, for many years was under
the presidency of Mr.. Williamson a wealthy
merchant, and occupied a high rank. The
Dividends were worked up to four per cent.
quarterly, and the stock at enc time was in
the vicinity Of 80. The surplus of the bank
was certainly very small, and the highest
price of the stock was due chiefly to the
large dividends. 1t is stated that recently
internal dissentions arose and that the officers
and clerks Of the bank laid petition before
the directors requesting the president to re-
sign, which he did short time since. 1t is
reported that the bank lost in deposits on
Williamson's resignation. When the news
became generally known, a crowd of excited
depositors surrounded the bank building, at
18th street and third avenue, and strenuous
efforts were made to obtain interviews with
the officers. Thefront windows and doors
were tightly closed, and two policemen were
stationed at the head of the stairway leading
to the directors room. The following notice
was placed over the main enterance to the
bank: "What is the result" and similar
questions. The crowd seemed to increase
momentarily, till late in the afternoon. The
steps, sidewalks and stairways were thronged.
Repeated messages were sen: 70 Wi!letts the
cashier, but that gentleman refused to make
any definite statement till about half past
two o'clock. when he admitted that defaulca.
ton had occurred in the clerical department,
which rendered it absolutely necessary to
suspend payment. An examination Is making
under the advice Of counsel. The exact
amount of losses is not yet apparent, but he
though. that the depositors would not suffer
to great extent. While refusing TO admit
tina, the bank had become insolvent, Willitts
seemed to think that its credit had suffered to
great extent and that the stockholders
would be heavy LOSERS. Acting president
Meade says that the investigation began some
days ago and soon apparent that the accounts
had been kept in very loose manner.
Many of the books were found badly mutt
tailed, and several glazing errors were discov-
cred this forenoon. 1t was discovered that
the capital was seriously impaired and the
committee thought it imprudent to continue
the business and the bank therefore closed
and the examination Of the books continued.
Mead says that the accounts examined to the
present time show that the assets of the bank
cannot meet its liabilities. The discrepan-
cies have not yet been fastened on any par
ticular person and the committee are COM
pletely befogged as to the author Of the
trouble. Mr. Meade says that no definite
statement in regard to the losses sustained
can be made at present, but thinks the
amount will not far fall short Of $500, 90
The Bulshead is state bank, incorporated
in 1854. 1t stood December 2Sth last as fol-
lows capital stock $500, 900; surplus $780,
200 circulation $4,000; deposits 81 ,07S, 900
! unpaid dividends $4,000; loans SIG, 800;
stocks S3O,700; real estate SCI, l00 due
from other banks $4,000; specie $4,000
legal tenter S12 500; over drafts $1,000
Last years dividends at l6 per cent. was paid
the stockholders, and the stock lately has
been quoted at $50. The bank always has
been considered perfectly safe, and the re-
port of its insolvency, caused CONSERVATION
among its depositors, many of whom are
butchers, drovers, and tradesmen with small
accounts. One of the directors said this at
ternoon that the bank no doubt had los,
heavily but he felt confident that the deposi
tors would net suffer to a great extent. lie
said receiver would be appointed.
Bids were received at the comptrollers of.
fee to-day for 81 200, 000 for the city improv.
ment stock, at rates ranging from 100 to loS
with one bid at los. $1,000. 500 were
offered.
Judges Davis. Ingraham and Barrett COM
municatsd with Mr.. Allen, Fosters counsel,
this afternoon, and informed him in reply &c
| his informal application for the sense of the
,UURSS Ou u mOtiUI iut VI
| of the execution of Foster, that should the
motion he made in open court it would be de-
MED. This of course destroys Fosters last
| nope of further respite. The sheriff and his
deputies are busily engaged in completing
the preparations for the sad tragedy, and the
construction of the gailows was begun this
| forenoon. 1t is the same one used in 1871
for the hanging of Thomas, the negro, and
has done Its terrible duty in the case of clever
others during the last ten years. The scat.
| fold stands at the southeastern angle Of the
prison yard, about ten feet from Fosters cell
The condemned man sitting in cell coult
plainly hear the carpenters at work. Foster
was up early. His spirits seem to sink al
the hour OF doom draws nigh. He is very
taciturn and seems unable to contemplate hi!
/ fate with calmness and resignation. Still h
is quiet and devotes himself with earnestnes
to prayer and preparation for the last end
His wife, brother and brother in law called .
an early hour. Crossing the prison var
they could see the carpenters at work on tn
scaffold. Rev. William Schoonmaker, chap
lain of Sing Sing prison, conversed with hi,
some time, counseling resignation and urgin
him not to encourage any hope of averin
his fate. After the departure of tho chaI
lain Foster threw himself upon his bed, HI
wife taking seat on the side of it and I'll
brother occupying chair directly facing hel
They then conversed in low tones, both door
Of the cell being open so that the deput
sheriffs could see although they could M