National Republican., 1878-09-17
OFFLEY'S SUSPENSION.
Excitement Caused by the Closing
Of a Bank.
An Assignment Made and Formal Notifloa'
ton Given to the Pubiio-Hsavy specu-
lations In District Bonds said to bo
the Cause-An Interview with
MIR. Omey-The Firm will
Meet Its Liabilities.

The news OF the suspension Of II. E. Ofley
Il Co., bankers, corner Of Fifteenth and +
streets northwest, was circulated about the
streets early yesterday morning and was the
general topic of conversation along the WASH
ington Wall street. The following notice was
posted on the front door about nine o'clock
and attracted many readers;
NOTICE.
WASHINGTON. Sept. 10. 1878
We md II necessary for the benefit Of all con.
cerned that We should suspend and make an as
sgnment, which We have executed this morning.
About one o'clock in the afternoon another
notice was posted up, which read as follows:
This bank Is closed II. l.. Ofncy & Co. have
made an assignment for the benefit Of their credit
ors TO the undersigned who will proceed to settle
Ha, n9 Ss SnS pl s9S S tS Iask , as Ssy ss
National Metropolitan Bank. one Of us will he
found hero from one to three p. IN. daily until fur
&c. MARBURY.
4 reporter Of THE REPUBLICAN, visited the
residence Of Mr.. ofiley. No. 80 Second street.
Georgetown last evening. The scribe was In
yited to enter the parlor, and found Messrs.
Onley, Hewitt, and Marbury engaged in an
animated discussion.
Upon being asked for statement regarding
the liabilities and assets Of the bank, Mr.. Oflley
said that 1t would be impossible for him to say
anything about the matter at present. lie had
turned everything over to the assignees and
they alone could make detailed statement
lie did not think. however, that the liabilities
would reach $4,000, and there were enough
available assets, both in cash and checks to
meet that. He could give no reason for tho
suspension other than that he thought 1t best
for all concerned that he should stop business
before he became more heavily involved. Upon
the question Of the purchases OF the 3Gj bonds
lie declined saying anything, AS 1t might have
tendency to dCprcciato them. Tho bonds
were now holding their own In the market.
Mr.. Onlcy stats that he had been treated
unfairly in the star article, as II was intimatel
that he was afral to meet his creditors.
Yesterday morning, about hal!.paSt nine
o'clock, he went to the bank. and shortly after
visited his attorney, General Hcnklc, iOr the
purpose of making an assignment. This busi.
ness occupied his time until afternoon, whcn
acting under the advice of his counsel, he
returned home to seek needed rest. lie would
make a statement shortly which would placl
him properly before tho public. The following
statement explains itself:
wAsHlNyTOE. D. c.. Sept. IL, ISIS.
DEIR SIR Having seen the statement in the Sdr
OF his evening In relation to ynUT connection with
our bank, deem IL Justice In ynu n deny over my
own signature the statement that you had failed
10 put up the amount Of capital agreed upon, and
also 10 deny that you had at any tiIaa drawn out
ANY Of the capital paid In, nor do believe that
any ono Ofmy CLERKS made the assertion attributed
to him In the Iu statement. II were not utterly
TrDStrated 10y sickness | would also deny u large
part OF the Sr article in relation % myself Tlu.y
yOu.s, COLMER Z. OFFlEG.
The firm OF II. Z. Ohlay * Co. commenced
the banking business about three and half
years ago aud consisted of II. f. Oflcy and his
brother. The latter drew ont a short time ago,
and Mr.. Il. c. Hewitt became special partner,
putting in S2Iu,D capital. The bank did not
trnnsnptn heavy tlpppsit buznnag q,
shave notes and hIy and sell District securities.
The fall In the price OF the latter is said TO be the
cause of the suspension. As far as known, no
other banks arc affected by the failure, as the
! broken firm did not trum3act much outside
| business.