Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1882-12-28
By Telegraph.
CRASH!
Sudden and Complete Collapse Of Pri.
vate Banking Establishment ut
Victor, n. Y.
The Failure Brought About by the
Rochester Embezzlement and
Suspension---Ruined
Depositors.
Failure Of a Montreal Boot and shoe
Firm for 500 OOO-- -GrO>s
CRASH !!
Failure Of Montreal Boot and shoe
Firm for 500, OOO---Gro.s
Fraud Charged.

ROCHESTER,, N. Y, Dec. 221-Close on the
heel Of the disastrous failure of the City hank,
Of this city, comes the news of the suspe. .sion
Of the banking house of William G.
Moore, at Victor, which took place
Wednesday morning. An early dep ,sitor,
who made his appearance at the usual hour
Of opening, found the bank closed. The
bad news quickly spread through the village,
and soon the usual quiet gave way to \ ur-
MOL of excitement Investigation showed
that William c. Moore had made an assigl-
ment conveying his interest i'll farm of III
acres, upon which there was a mortgage of
$1,000, the bank building and whatever of
value remained in the vaults, which is e'tl-
mated at about $4,000, to Joseph
Upton, brother Of c. E. Upton, of
the City bank, this city. The value of
on which there is a mortage Of 5000 held by
the New York Life Insurance company So
far as could be ascertained, these items COM
prised the total assets Of the suspended
banking honse, which may be summarilel as
follows: Cash and bills receivable, ST.. ~;
interest in farm, $1,000; interest in banking
buildings, $500; total, s2l, 600 The amount
Of deposits can not Of course, be definitely
ascertained, but so far as learned there are
about twelve hundred persons with balances
on deposit The following are few of the
sufferers and the amounts of their balances, in
round figures: v Conover, 5000: Clark 4
Aldrich, 81 600; Robert J. Marten, school col
lector, 5000; NJ A Wilbur, $1,000; John s
James, 81, 500; Peer 4 Houston, sl,5W: Mrs.
c. F. Dickinson, $500. The remaining de-
had Init N ha hal
but in many cases the little was their all
Moore is q brother-in-law of Charles E. Up
ton, and his failure was caused by the fact
that he had loaned Upton $4,000 from the
funds deposited in his bank. The total de-
posts were about s1OO,OOO, and the available
assets are estimated at $1,000 The excite
ment is great but a general feeling of sym
patty is expressed for Mr. Moore even by
those who have lost by his failure. Business
men doubt if the bank will pay 10 cents ON
the dollar.
The excitement over the embezzlement of
$3.50, 900 of the City banks funds by its presi
dent, c. E. Upton, still runs high. Neither
Upton nor Cashier Barnard will make a state
ment 1t proves that the city of Rochester has
lost about $50, 900 by the suspension of the
bank. At "a meeting of the depositors last
evening" a committee of seven was appointed
to examine into the affairs of the bank, with
view of bringing those crllninally liable to JUS
tee committee of five was appointed to go
to Albany and secure the appointment Of re-
ceiver in favor of the depositors.
MONTREAL, Dec. 2.-Perry 4 Cassills, one
of the largest and most reputable firms here,
boot and shoe manufacturers, suspended yes
terday with alleged liabilities of about $4,000
to 100000. Their downfall has arisen out of
gross fraud of the senior partner in giving
notes, without the knowledge of Cassils, to
Seath & Co., leather men, without value of any
kind but personal loan of a
comparatively small amount The fraud has
been going on for over a year, and it is said
the notes have been discounted not only in
Nelson's, which has most of them, but al the
Merchants and Union banks here, as well as
in New York, Boston and Chicago. Ca~sils
repudiates his liability on the paper, as Perry
was prohibited by the articles of partnership
from signing any security for the firm. The
affair has created a great sensation here, and
will be taken into the criminal court. Cassils
belongs to family of milionaires in this CT Y,
and his credit stands as high as ever, the sus-
pension being merely to find out the extent of
the surrephtious dealings that have been in
progress