Weekly Phoenix herald. [volume] (Phoenix, Maricopa County, Ariz. Territory [Ariz.]) 1882-1896, 1884-05-15

apparently as disconsolate over the
situation of affairs in this district as
tile most thoughtful and interested
pei son among US. But though min
ing was our great industry and its
cessation our death knell, our
troubles were not to cease with ii,
for, to cap the climax, Hudson u
Co, the great banking firm of this
Territory, Closed the;r doors ana an
nounccd to their deposi;ors by means
of u placarG u the window hat they
had made an assignment for the
benefit of all concerned.
The bank opened al O'Clock yes
terday, ard was transactiug the
usual Saturday business with its ac
usiom ID celebrity an,' method when
the following d spatoh was received
by Mr.. NJ b. Clamp, the charge
afTaiIs here:
Tucson, May 8.
M. 3 CLAPP: Hudson & Co. have
made an asst gnnent to me for the
benefit OF creators, today's d post
as preferred. l authorize you as
my agent, as assignee, to take pos
session of all the firms a7sets AT
Tom bstone. ard hold same Notify
public TO this erect IN EpitGph aud
at bank. I. L. STILES, Assignee.
Another dispatch demanded Mr..
Clapp's presence at headquarters IN
Tucson, and in compliance with
these instructions he closed the
doors at 10 a. M, and forthwith pros
ceeded 10 the ancient ard honorable
pueblo.
The news spread like wildfre, and
soon the building on Filth ST. eet
was besieged with anxious d; pos
itors, eag,r for more information
than the meager placard afforded.
An EpitGph reporter was soon on the
scene of sction, hut a careful ard
thorough investigation elected no
particulars further than as briefly
given above, save in an interview
with the banks attorney that genile>
man made the following statement:
Owing TO the extraordinarily heavy
drains upon Hudson 6 Cos bank,
caused by recent cessation of work
in the mires and consoQ uent wiih>
drawal Of deposits, the bank is
compelled 10 close its doors until
matters are adjusted with the Tue
son bank and balances are called in.
Everything is intact in the bank
and there is every reason to believe
that the suspe nsion is a temporary
one and that not a dollar will be lost.
All day The crowd encompassed the
Gus rumoIs spread through the town,
each succeeding one narrating
verse state Of affairs than its prede>
cess rs, The Indignation Of the UNI
fortunates increased accordingly
until about 3 P. m E, when it seemed
that the eXpectant multitude could
no longer be restrained, and that the
C complete demolition of he building
might be momentarily expected
The grand jury being in session.
their attention vas called 10 the
state of affairs existing in the town,
whereupon they decided 10 recon-
mend that the sheriff of the county
take possession Of the property
forthwith, as it was feared were the
building demolished much property
stored therein for safe keeping and
not the property of the bank, would
be confis Gated by the excited popu-
lace, each intent upon obtaining his
own anu inuifferent as 10 who
Should suffer the consequences.
While Sheriff Ward was acting
upon this re- ommendation, the
grand jury prcceedet to draft the
following resolution, with which |
they subseque ntly proceeded to the
bank building and read them to the |
excited crowd and had several cop |
i;s posted in public places in the
town:
NOTICE 70 THE PUBLIC.
WHEREAS, Ii appears to abe grand |
jury Of Cochise county, now in ses>
SION, that there is immediate and !
pressing danger that the bank build-
ing of Hudson G. Co., in Tombstone.
will be destroyed, and the depos it
ors and creditors will he greatly
damaged and injured in the destruc>
ton of these securities, and
WHEREAS, 1t appears TO said
grand jury that valuable and i'm
portant papers, jewelry, diamonds,
silverware, etc, are deposited in the
vaults of Budson 81 Co.'S bank,
which in the event of the destruc-
Of said building, will probably be
lost TO the owners and depo- itors
be it therefore by the grand
jury
Rsso1red, That j L. Ward, sheriff
of said county, be and he is hereby
instructed to summon from the body
0f Cochise county, guard sufficient
in number to protect said bank
building, and the property and Sc
;urIties therein deposited, and that
said shriff keep said guard stationed
at said building until all danger of
destruction is passed. [Signed by
.rand Jury 1-Eaitd1h