The New York herald., 1878-11-02


leetsd refused at time TO cash them On inquiry
being made Il found that the individual In ques
ton had been buying pound notes at fifteen shlngs
piece from the working classes In the locality, who
were OF he opinion that paper was o. iis value see
prise was the Glasgow shopkseper VINO, having
Keen eye TO business, Affixed to MS WINDOW early IN
the forenoon OF the day OF The crash notice TO the
effect that he would accept Guy OF Glasgow bauS
notes in exchange Tor goods.
TEE MANx MEN,
Nowhere perhaps mas the CITY Bank failure caused
more distress than in the Isle OF Man. where. under
the name oi tho Bank of Mona carried on business
a. four branches. IL had almost monopoiy 0i the
deposits Of the island me sum on hand a. the time
oi the stoppage beng close upon f400, 900 Many
persons haa their all lodged account, aud are now
left without = dollar. The names are gwen Of one
bank, and both are now destitute A. Que OF the
hshng villages great distress Is anticipated. The
rely those small savings for the winter's hvingos
themselves and families
rHE sHAREHoLDRRa
But while the deposIors have our sympathies 1t ID
the shareholders who most be pitied and
condolsd with. 1t means ruio 10 many household.
Tnere hundreds who were u few weeks ago iiyius
IN comfort aud ancied security VINO to-day lind their
source OF income suddenly cut OF That doubts about
the state OF the banks affairs existed apparent by
the absence from the list copartnery the
Of tne merch .nt princes OF the large cities ana iha
the contrary, with feeling oil pltifui sur
prise that on. hnds II i crowded win tue
0i persons whose means are held ia trusL Ws hnd
that there are IN ali 800 women registered on the st
OF partners and tue total amount ot stock opposite
their uames fl03 56u OF these twenty five are
WIDOWS, having $3.50. whlcn. with the exception Of
one holding Of f2. 100. mostly in flOO shares.
Cergymen are rsprsse ented the exlen. OF thirty
three propristors, ana ;heir proportion reaches
fI9970. while there fewer than l80 cases IN
wnlcn the stock is held 10 trust, the amount being
fl32 S22 DURING the last ten years the number OF
holders had beeu selling out and The stock gradu
ally being divided into sma portions Many and
who stand Ia the unfotunats position Of partners
the bank Widows whose entire worldly store
ship; small tradesmen who had nvested the most Of
what they had been able TO iay by ministers who
looked 10 the dividends 10 assist N the educating Of
their families; doctors, who. with increasing prac
tioes, placed their surplus incomes IN sate keep
ing;' commercial men VINO had put al odd thousand
INTO The concern-ali are personally spoken OF aud
condoied with. More than one Instance Is pointed
brothers representatives OF their widowsl sstsrs
aud relatives are trustees or orphans Ruin, u NOS
absolute bsgeary, Is the only conceivable prospect
many cases; III others, men, who have by steps
climbed the ladder ot fortune just their way
begin the world anew; and merchants Of compsratlvs
afnuence, wn0 while compelled 0ulwardly face
matters 6odIy, are nwardiy worried with the thoHsht
q having 20 part with perhaps the larger porson OF
One instance. In winch u wiuow 10 concerned seems
singularly hard. During nistims her husband was
connected vito inland revenue, and some TOUR nvs
years ago he died suddenly, leaving her sum OF
ABOUT f300 BY oi friends portion 0t ,hs
money was invested share OF the City OF Glas
gov Bank, wnie the remainder was spent In furnish.
ing u pretty, commodious house, Win the viiw OF
keeping lodgsrs She mad cnd. aud strovs hard
10 gain a lIveiih00d-the weekly boarding aud
meet What must be the iuevi.able result oi 4 call.
however small, upon herf Attention ~ drawn
70 an sny i,vy IN Tue s 81 81 wasre
gov indicated AZ possessing numerous shares, while
following her name are records S several transfers OF
stock. Inc hardship OF The IS lurhef explained
by tho statement tnat on the death OF the head Of the
house the money was placed in stock In tns widows
name s'in trustn Tor the lamIy. The children grew
up, aud last year 0ne-haf OF the holding appor-
tiuned among them All are involved. II Is their
sntire possession. Again we hear OF q widow lady,
whose husband was connected with the bank, DsinG
seized with paralysis on nearing her daughter rsadIpg
annou Dceneut in the papers or the st0ppage VI
tns bank, ana she IL NOT expected TO recover An-
other lazy, whose entire lunus were invested the
for hsr what PARISH she may require 10 claim upon
tor relief she IL without Q penny the
wo som one b nrasc 90 S ;ns n % case o.
try, but some years bacK removed 70 Glasgow,
where no gradually worked himself into isifiy
lucrative connection He saved money, selected Cay
Bank STOCK ~ sfordiDg good security with good
return took q house aud furnished in Keeping with
his position in the prcesston; everything Was gong
on prosperousiy when the crash came. The sn0cK
is Almost TOO much ior him; he says he has barely
enoagh 10 meet ordinary accounts, iet alono contr-
buli0g toward making up the dencis 10 the banks
assets. Again, gentleman well up IN year1, II
pointed out US Of the hapicss snarshoidera
Years ago, IL Is whispered he iouhd his way IRON the
North 0i Scotland " push MS fortune In the more
commercial south To some extent ne was SUCCESS
iu and ulllmaieiy became partner IN local meroAn-
tie house. Declining health compels him -
sssfe s,s ,o,raaen from .he ds aaa sn,s qo.s
the dividsnus accr ung IRON some shares IN ths City
Bank which represent nearly lEs whole OF his Iitn
usd fortune. Nov, however, he Is deprived Of well
n,gh everything A similarly deplorsbe case 10 that
Of the minister Of large Free Church. Some money
had been lett 70 the clergyman aud part OF Il was in-
vested ~ shares IN the CITY BANK. For considerable
time MS good lady has suffered from severe smeut,
tor The alienation OF wnicn residsnes IN o. southern
climate became a necessity. He accordingly Wxs al
loved although with great regret both Of c0ngrsga-
iu.on me pastoral charge 10 take eject As from the
first Sunday oi next month The lady had meanwhile
isit tor the Continent, and TO leave the eongrsga.
ton open ior choice OF another minister matters
were FASTENED, aud u was arranged tnxs the
reverend gentleman should preach ms dare:
well sermon, while the roup vi the household
furniture was advertised Tor aud TOOK place inS
DAY on which the announcement OF the bank iAiiurs
was made. The story oi the failure was terrible
blow TO the pastor. Not only were his shares the
BANK goue, Dut his connection with his cougregation
having been cat he was lott witnout any resource.
rns sale the furniture toox place on the Weunss.
day, aud Friday bad been liked Tor q meeting OF ins
congrsgatvD, AZ which presenIntion OF silver pats
and u purse oi gold have made as L part
ing gut. There was q very large meeting The posi-.
,loa snsr ia,e minister Considered ana Ii was
UNANIMOUSLY and warmly resolved ~ ASK the rsvsr.
end gentleman 10 Withdraw has resig gnatiOn aud agrea
fuii heart accepted the continued ansuti0n and
hdence oil MS people
Othcr snarehoiders are suffering all the agony OF
suspense. One gentleman ol wnom We heard ex-
pressed himself as wIIing TO hand over E25 900
bank 10 compromse The claim against him as shafe-
holder Another partner, whose name Is only entered
Tor one share. offered souie oi his acQuaintanoes
Io,VuV " take responsibility oI
oil mis- shoulders. lhe only society entered snare
holders - the Glasgow Religious Socisty, and the
stock is held In trust being portion u tns money
out oil which allowances made to old and innrm
members White tue socety's funds will ali be
swallowed up, the trusiess-as Is the all
stances where stock 10 bsd IN trust--become per-
soDaliy liable for ca. Great Indignation s expressed
al the conduct OF tt Glasgow directors oi tho
tneir actions TO within the pale Of
tns criminal laws and that they may yet have
very grave cnarges IL Is but 100 that they have
mads shipwfcck oil q noble Institution, reeklossly
divided the piunder among themselves and their
friends, aud have inflicted aud upon thou.
sanus Of innocent suGsrers The statement broadly
made that only one Giass director Tree Tho
charge Of borrowing large sums of money from The
bank anu using ms position director ior his
ends. Indeed It looks if the Board mad
done nOthng elao but met voted Oaen
other additional sums advances, until some
halt dozen dus the ban as mauy Millions
stcritug. Tho seven Glasgow directors hsd only
ABOUT 10 0O0 o STOCK among them, wae those OF the
IL Ilur Honrd