Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-05-31
MIDDLETON ( CO. SUSPEND,
TO GEORGE F. GREEN,
A HALF MILLION said TO Be INVOLVED.
DEposIToRs AND STOCK CUSTOMERS ON THE
ANXIOUS BENCH.


ANXIOUS BENCH.
Some excitement was created uptown this morn
ing by the discovery of the following notice posted
upon the entrance to the banking house Of Middle
ton 6 Co. 1927 street:
"Owing to heavy and Immediate demands we
have assigned to Mr. George f. Green for the bene-
| ut OF our creditors"
There was no name signed. but it was ascer-
tained that the only member OF the firm was S. E.
| Middleton, ID. w. Middleton having withdrawn
| from the firm several days ago. crowd was soon
| collected about the doors and in groups on the
sidewalk discussing the situation. A large number
| OF those present were depositors who had come
there with checks to be cashed One man reached
there at 10 o'clock with check for $50, and he
| had the melancholy satisfaction Of reading the
notice posted on the door.
| STATEMENT OF MR. GEO. F. GREEN, THE ASSIGNEE.
: STAR reporter was admitted to the Office soon
| after 10 O'clock but found that neither of the
Messrs Middletons had arrived. A couple OF clerks
and MI. Green, the assignee, were the only occu-
pants OF the Office The telegraph instrument
which received the stock quotations was in opera
t1on IN the rear room, but no quotations were
posted. Mr.. Green, who is the bO0kkeeper OF the
firm, made the following statement to a STAR re-
| sd. w. Middleton retired from the firm week
ago. owing to l-health and dissemination to con-
tinue to struggle against what he thought the in
o.
manage to keep open and SO assumed the liabilities
put steady withdrawal by GepOSitOrs has daily
increased, and he found 1t impossible to meet the
demands Both have assigned everything, l be-
l!eve TO me, and shall bring matters to settle
ment as soon as possible
LIABILITIES NOT KNOWN YET.
"What is the extent of the liabilties?" asked the
reporter.
81 haven't an idea" replied Mr. Green. 81 win
not be able to tell that until have examined the
books'
While it is not stated authorltatively, 1T is
believed that the embarrassment Of the firm arises
from unfortunate Speculations in Wall street.
The firm OF ID. W. Middleton was established in
1857, the members Of the firm being d. W. Middleton
and s. f. Middleton The capital was $4,000. ID.
W. Middleton was the Of the late d. W. Middle
Loh formerly clerk OF the U.s. Supreme Court, and
lie Is cousin OF his partner.
THE MIDDLETOSs NOT TO BE SEEN
About 1850 the doors were opened, and the
anxious depositors Ocked in, but they heard little
MI Green was the only one that could be seen, but
he had nothing to say. Neither OF the MddletonS
appeared at the Office, and visitor to their house
early this morning was informed that they could
see no one.
.Agentleman whois acquainted with the affairs
OF the f1rm said that the trouble began by dis
agreement between the partners, which finally cu-
minated In the withdrawal of D. w. Middleton.
HE TOOK THE CAT.
one OF the depositors after walking about the
office In gloomy mood finally seemed to grasp the
situation and assuming q more cheerful counte-
nance said, with laugh:
wen, can't get my money here. 1 will take
ScRed m caf ana ha hstng the he action IL to the word
walked away amid general laugh.
NEW YORK BRANCH.
Last fall the firm established a branch house In
New York and partner by the name Of Deichman
took charge
D. W. MIDDLETON WANTED TO CLOSE LAST MONDAY
I'D. W. Middleton wanted to close the bank last
Monday" said one OF the heaviest creditors OF the
no 6oir hol
said that either he would take AXE the b bank and
cose Or So d D. areM H dd 9
known the condition OF affairs to of the heav-
lest creditors and got their consent to go Last
night, however, he went to see ID. w. Middleton
and In their talk ID. w. showed him the useessness
OF going On, and he decided to close the bank"
TUE NOTICE OF DISSOLUTION OF PARTNERSHIP.
After the conference between the. brothers last
Monday the following advertisement was published
In The STAR under the head of Special Notices:
rFSa THE PARTNERSHIP HERETOFORE EX-
W, isting ting between D. " MIDDLETON and f
B. " Tetrne Ths Ss baness % be
continned under the old of Middleton i Co
THE HEAVIEST CREDITORS.
The heaviest creditor of the firm is said to be Mrs
Hutchinson, widow OF Hayward Hutchinson, the
president OF the Alaska Seal company. She had
about 100000 In the hands OF the firm.
Ernest Deichman, OF New York Is O creditor to
the amount OF $4,000. Mr.. Deichman was a part
ner IN the hrm and managed the New York house
Sunday, when the members OF the firm talked over
the affairs OF the bank, and the Mddletons made
an assignment of their interest in the New York
mouse 10 MIN. Even after making the assignment
however. Deichman remained q creditor OF the
house TO the extent of $4,000
THE STOCK CUSTOMERS OF THE FIRM
The failure affects not only the bank depostors
but also the customers OF the firm who dealt in
stocks through the house The back portion OF the
m n broly
ness conducted on the "margIn" plan and as it has
always M been supposed. conducted very safely. One
$l0,OOO OF accrued profits. The business here has
always been In charge OF D. W. Middleton. Mr. S.
r. Mlddieton has generally had charge OF affairs in
New ORR, and, 1t IS said, knew very little of the
affairs OF the house here except In routine way
one OF the Intimate friends OF the Middletons, and
at the same time OF the creditors stated to n
would get
ONE CENT ON TIE DOLLAR.
"How did the affairs of the bank become en-
| tangled?" asked the reporter
"NObody knows" said the gentleman referred to
ut Is supposed that d. w. Middleton got into spec
ulation and when the decline took place lately he
was stranded"
s. E. MIDDLRTONs NOTE TO FRIEND.
Mr.. s. E. Middleton wrote note to one of the
creditors this morning asking him to see that his
friends were not too severe upon him.
The firm was originally established in business
through the influence and financial assistance of
idVo ~. w. MuulctOuk 10 Is stated InaC he DuC
$4,000 in the bank to start 1t. It is said that
neither member OF the firm has any unencumbered
property. The old family residence on Capitol HIN
fell to Miss Middleton In the division OF D. W. Mid
dletons estate
HALF MILLION INVOLVED
Mr. Green, the assignee, when asked by a STAR
reporter for list or partial list OF creditors said
that 1t would be impossible to give it yet The
cash deposits OF the bank, 1t is said, amounted to
ABOUT $25OOOO, but the firm held stocks and Securi-
Ties OF customers amounting to about $25OOOO.
making total Of $500 600 involved In the failure
D. W. MIDDLETON TOO SICK 10 SEE ANY ONE.
A STAR reporter this morning called to see Mr. d.
w. Middleton, who was the recognized head of the
bank, at his residence, No. 2I4 New jersey avenue
southeast. Following on the reporters footsteps
came an anxious brOWed customer, who explained
TO THE STAR man that he had bought outright forty
shares OF stock on the 10th OF Nay for cash. few
days ago he gave verbal order to sell, but could
not learn whether his directions had been complied
with or not He was standing, he said on the brink
OF precipfce. MI. Middleton sent word to both
callers that 1t would be impossible for him to see
them on account OF serious Illness After tue de-
parture or the customer the cOlored waiter took up
stairs second and tnportunate request OF the re-
porter to be seen but for a moment, and shortly
returned with the message: "Mr. Middleton says
that he cannot you; that he is too SICK lie
says that he retired from business connection with
the bank week ago, and declines to say anything
regarding the present state OF affairsn
show long has Mr.. Middleton been siCk?" asked
the reporter.
"About two weeks, believe" was the reply.
TELLER WHITING KNOWS NOTHING OF THE CAUSE OF
THE SUSPENSION.
Mr.. Frank Whiting, the teller of the bank, when
asked by STAR reporter what caused the suspen-