The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1878-01-05
Financial Disasters.

The following failures and suspensions were
announced on Saturday last:
J. d. Park 4 Co., wholesale druggists Of
Cincinnati. There is no statement OF their
liabilities and assets.
Edward Albro Co., hardware merchants,
of Halifax, N. s., are reported embarrassed.
They are said to owe 100000, and to have
only 500, 700 to pay it with. John B. Flow
ers, dealer in boots and shoes, of the same
city, has failed.
The Real Estate Savings Institution in St.
Louis. Its assets, mainly bonds and mortga-
ges on real estate, are placed at $4,000
The liabilities to depositors are about $780,
600. 1t is thought the depositors will get
their money back, and perhaps the stockhol-
ders receive something.
The trustees of the West Boston Savings
Bank, in Boston, decided to close up the
concern.
The Rockland County National Bank, at
Nyack, N. Y, suspended.
A receiver for the Jersey City Savings Bank
was appointed.
The Bank Commissioners of New Hamp-
shire have cut down the deposits in the Derry
Savings Bank 25 per centum, to meet the
shrinkage in its investments, and it is under
stood that the bank viii hereafter pay but 4
per cent. interest.
AT EVANSTON Ill., the Clcpucu
Smelling and Refining establishment has gone
into bankruptcy Liabilities $l05, 900; assets
$s3, 200. Herman Schwab, cigar dealer of
the same city, has also become bankrupt.
He owes S26, 900 and has about $1,000 worth
of assets.
George B. Bigelow, prominent lawyer of
Boston, was arrested on Saturday, on the
charge of embezzling $40, 600 which he held
in trust He was released on 100000 bail.
George Winks & Co., dry goods importers
of Montreal, failed on Saturday. They owe
$500, 600 and promise to pay rs cents on the
dollar.
The bank of George N. Brooks, LowviIle,
n. Y, was compelled to suspend Saturday,
by q run. 1t owes $4,000 and claims to
have equal assets.
There was partial run on the Rochester
Savings Bank, at Rochester, N Y, Saturday.
1t was entirely causeless. The bank has a
surplus Of 100000.
De Monday the failure was announced of
the well-known New York brokers, Bonner
4 Co.. and the fight of John Bonner, the
senior member of the firm, to Canada. Sew
eral other firms have failed in consequence
The Bankers and Brokers Association, of
which Bonner was president, krs also sus-
pended, having been 'sgutted" by Bonner
The liabilities Of the firm are variously esti-
mated at from $500, 600 to 81 100000.
Polledo, Rionda & Co., large sugar traders
at Havana, Cuba, failed. The liabilities are
unknown.
The enxsensive banking house of Jacob
Bum, of Springfield, H., made an assign
ment Wednesday. His wife joins him in the
assignment. 1t is said the liabilities will
reach $4,000, and that the assets will be
sufficient to pay everything if time be allowed
and the property not sacrificed. The imme-
date cause of the failare was the large
amount of unproductive real estate held by
the hank.
Hickox & Spear, bankers, of San Francis
CO, suspended Wednesday.
In the city of New York, during Deem
Der, one hundred failures and assignments,
with liabilities aggregating nearly s., 700, 900,
were reported. This is the heaviest record
of the kind for any month of 1877, and the
figures show an increase of 25 per cent in
number and 300 per cent. in amount on the
LIST for Novau1har