The Panola weekly star. (Sardis, Miss.) 1882-18??, 1882-12-09

. sts,esIanl SO 90 lsd s.s 80 sll,sl0 rs


Three National banks have been placed IN
IN. hands Of receivers during tho year cndoi
Nosemitr !, isas-namriy, iho Mechanics
National Hank OF newark. \. j.. on Noy"nber
:, lei; the Pacific National Hank o. i.ss nos.on;
Duffalo. on April y. is~. Tho suspension q
the Two firsf nsmed banks was mentioned ~
the report OF the Comptroller for the year emo,
cf November !. issI. and III, causes which ~
T. 10th of these failures were then fully dis
cussrd. Tho Directors of the Pacific National
Hank Of Boston undertook 70 make gpoi tne
impairment Of lts cspltsl STICK in tho mrnner
authohiei by section so5 ~ the iicsi.ea s,at 'l
utes but .. they failed 70 90 20 rsn,n 'ns ~ ,nhe
charge Of is Affairs 1hq failure of the riss
National Hank Of buffalo was the RESULT o.
the misappfopristion of funfs " ~ frE
dent Iis condition va, ,sessesrn y, sru'ls " ns es.
before stated 1hs affairs of ten National
bsnts have bsen finally closed within tna
year. since the commsnccmsns % @ o., ot s,J s,.ses
IN the hands of receivers and ~ banks hssc
yolunfrr ly closed Their businrse ~ the votes
Of shareholders owning twofhirls o. 'ns.a M
stock, under the proylsions of sec''sn. "a a.
and hzI of the Revised Statutes uf me
banks 60 placed In voluntary liquidafon ~
| their ssockhnIderr, failed 10 pay fhesr D.
puslfnra and In these cn<es Teceisrrs we're
appointed ~ tho ComYsroilsr 70 Vim ~
4 IHEfT IH1fA vi IAI % NAn - " - = -
hands of receivers. 81 have been clo-ed, ieay.
ing B stili in rror-~s Of setilement Ihe los
10 creditors II National banks which n1ss
| leen placnd IN the hands NJ rrc~tv-r- aur ns
nearly twenty Essrs me- v,rsrs nsss s,sp1, ,.a a.
near ~ ezn be estimated. Including disiaen1s
whleh viii probably b. hereafter paid, hH.
harn about f11ol.00l The average snnua'
io@s has becu. thcrcfrrr. about teaen I'M y .ns ns
eaplssl II about ess0eo.W. and which have
| i..', rrsp1nsihie for the safc-kecpink 0l ne'
po~its In their hsnfr asersr NJ constsntyo over
ktnl0.nB. or about one tvent cth OF one W
IN M ij,rs required for lsraldsiinx the AFFAIR
of ,nsoIvrnt hanks drpend- chiefly upon ~
sm1srnf II lisix ton which may erize IN ~
cnsr Il /. imp rzibIc 10 trii In sdvnnct wna
QUESTION: y msy ss,s's. sssg%s II nan, of shes'
casrs no conclusion can b. reechcn unsil w.
matter bas been brought before the courfs
last rr~ou. The dockeis o. the eIprsme cur.
Of most n the stssss. sni ssst o. tss pts,n' ss
when n sppesi is made % these tfibunsl'
Fesrs nftrn eIapec bffofe the csse can ?
Reached Ovinf. however. 70 ~ nccls.on 3 :
Tsdy msd .se form q gsgssdsse ~ me stas y
nnderstood, and IN coiiecfinr ss.sis, !
. sliowinr s,6arfn and enforcing NJ habiiiiy {
ssnrk .h1ldcrs fhrrc Il nov no iu1nccment
prusrses lItisnf on, either % be pr e,n' g "
ordinary ItUtUf@ OF III 8ta- w = .--E-
hnidcfs who become surh dsHnfs VI.
0 | s.rrsscd under their liability. - pfufi,sa !
|. | sertjc6 xisS of fhs Ilevisrd Statutes. In :
. eases Of failure Of National banks mers y !.
y many claims PRES ufed 10 tne rece.vers. un's @
eriy iIsbiItie. II tbe s.eesistlon. sna y
q nrrrsssry. ir, order TO pvptrcf ne tntcfcse
!. ske see,,inc crrditsss. that suce elaine e,n m
y - ,rlr<frd until their nerie havs =.
j. prppcry aiiu5icstsd " n,.. ccnm !"
rrttnt iurisdIcfiou n iah4Isy !" !
r.c,afs for neriir<nf di.cseue ~
n. Sutiss. or fsr maIfeesan.e. = nj ~ ca
- 6eassS ~ any nuthoritsiisc decssnn Y "
% s,cs 4 eisians - there are bssrinE os -,, y
=, rs1frT pDlut n e9mpisfs fe.s sssd
X shru siso Ths tatzi amount peh ~ 49, ~
~ ~ q lnsoIrent Nnft1nal benss ~.
v. 61sf4.z5l 1h< dlviden1s 9 - u. s.s,, Il
S-'t',f <f-Sa- = ~ e~~* ~ Ne pyoyen s'1'''
4 s&ir1S1uo tssks nns,9s p-.a nc ...,., -,
a 90 q Ill. ~ .ss. - ns,'sesl asx ssss>
lko ~ 15rrr0 q e411eV!11. u<@< mss ~.