The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-11-21
LOCAL LORE.
THE ADAMS BANK ASSIGNMENT.
Latest Developments Connected There
with-some Interesting Railroad
and Telegraph Rumors-Bur-
glars at Eagle Ford.
Assignment. of Adams 4 Leonard.


The announcement of the assignment
of the banking house of Adams &
Leonard, which appeared in yesterdays
HERALD, was the topic OF town talk.
This firm was the oldest banking insti-
tuition in Dallas, and has always been
regarded as solid in every respect.
There seemed TO be an opin-
ION of genuine regret among
our citizens that they should have been
compelled TO the course they have had
10 take. No inventory has yet been filed
IS to the assets and liabilities. Clerks
are now engaged in the preparation of
Il statement of the affairs of the bank,
but 1t will be several days before it can
90 completed. When the announce
uent first became known some timid
depositors in other banks became
alarmed and talked of Withdrawing their
deposits, but this feeling soon wore Off
especially when the statement was
made that every bank in the city was
fully prepared TO meet every demand.
The assignment Of Adams Il Leonard
is attributable to the stringency of the
money market, which has made il difri-
cult to realize on investments. The
general impression prevails that the
tirm will be able to pay every dollar of
Indebtedness and able to resume bushes
within the next 81 xty days.
A HERALD reporter called on Capt.
Adams ut his residence last evening. He
stated that he had turned over every
thing. There were certain trust funds
in tho bank, which he would lave Sc
cured had it been possible. If pending
negotiations on certain transactions
were completed he ought TO be able to
pay every dollar he owed within sixty
days. He had turned over every
thing to Mr.. Flippen, the
assignee, because he believed
him to DO al honorable man, who would
30 manage the affairs of the bauk as TO
pay every dollar it owed, and leave Il
handsome surplus to himself and the
estate OF Capt. Leonard. AS far ss the
Texas Trunk railroad, of which bo il
president, is concerned it will not be
affected Il particle. He did not owe the
railroad cent, on tho contrary il was
indebted to him. Capt. Adams further
stated that If he did not pay every cent
he owed IL would be because he did not
have dollar left to do it with.
IL should be stated here that deposits
made on Wednesday, the day of the
assignment, will not be included in the
assignment, but will be returned to the
depositors.
The following notices arc posted on
the doors of the bank:
"All checks drawn by the First Ma
tional bank, of Decatur on Adams &
Leonard will be paid on presentation at
The American National bank, this city,"
"The American National bank will
protect all checks and drafts of the
First National bank, of Albany, drawn
on Adams ~ Leonard.
az. j. CANNON, Cashier"
"The City National bank will pay all
drafts drawn by the Waco National
bank on Adams Il Leonard"
Albany, Texas, Nov. 20.--To Adams & Leon
ard.
Announce that our drafts on you will
DO paid by tho American National.
Nj. BARTHOLOMEW.
Cashier"
GAIL drafts drawn by City National
bank of Fort Worth on Adams & Leon
ard will he paid by the City National
bank of Dalla on presentation.
ACTION OF THE MERCHANTS EXCHANGE.
Upon the call of Z esident McEnnis,
large number of the members of the
Merchants exchange met at tho ex-
change hall yesterday afternoon at
O'Clock. Mr.. MCEnnis stated that the
meeting had been called by him, at the
suggestion OF numerous members, to
rake some action expressive of the re-
greet OF the exchange ut tho temporary
suspension Of Adams & Leonard.
Their suspension must he a source OF re-
greet To tho whole community, especially
10 the business men, and he hoped their
suspension would last for but brief
period.
Mr., McEnn then called upon gentle
men present for an expression Of their
views.
Mr.. T. j. Trezevant said that while he
knew nolhingo OF the condition uf the
banks affairs he thought he expressed
me sentiment of the community when
he stated that the suspension
was matter of the deepest regret. He
thought Capt, Adams had been little
700 liberal Tor his own good, lie believed
tho suspension was duo TO a desire To
help out the people OF Dallas In the
stringent times we have had In the
last SIX months.
Mr. w, II. Fippen, the assignee OF
Adams 4 Leonard, being called upon.
said that he could make no definite
statement now. lilo had accepted the
trust, hut knew nothing as vet
Of the condition of the business, aud was
therefore not prepared To spenL lie
Was glad to be present at tho meeting
ana see the sympathy and feeling dis
played, IN MI ot which he joined.
MIR. &. Garter, of White & Co.,cottou
motors, uilrr It The following preamble
ana resolutions, which were unnui-
mously adupted;
WusRE 5, This oXrhango has been
informed of the Suspension of the
banking hnuse ul Adams \ Leonard
whose manager, Samuel y. Adams,
n member aud ono of thu
founders Oi tue exchange, aud,
WnEUEAs, W. deem 10 proper 10 OK.
press our ncere regret at tins unex.
peoted misfortune which has overtalou
brother member, who has nlwaN \ been
foremost IN promoting every bushes,
enterprise looking - the advancement
81 Dal,a. ANA her commercial pros
perlty. Therefore. he II
Resolved. That the members Of thi,
exchange do hereby assure Capt. Adam,
that no has our heartieI
embarrassment, which has been forced
upon him solely by the depreciation II
values, aud stringency oi the money
market now prevailing throughout IA,
country generally, aud that we conf
GENTLY trust that his doors will soon h,
upohed for business again.
BE u further resolved, that tho socre
tsry De Instructed Ia deliver copy q
these resolutions to Capt Adams,
Mir. Il. q. Callier, oN-president OF In,
exchange, said that ho had always ON
tertMned y hugh opinion of Capt. Adams
whom he believed had done AZ much lo
the city ps envy mAu iu 10, aud the su.
pen-lpn oi the firm was "a matter of re
greet to him.
MIR. W. l.. Han, director of the Amer
lean National Bank, said there WAS n,
man In Dallas who could look upon IN
suspension rs any thing but ca amt,
i9r me whole town. lie could 40 wher
all We're interested to a great d,preo i'm
matter of this kind The bank of Adam,
n Leonard had existed aimee norll
Texas had amounted 10 ANYTHING, an,
ha> had reputation aud standin
ABROAD perhaps more widely know
than any other bank In this part of IN
state. There are very few who knoy
anything of the banks affairs, but =
sr AS can DO ascertaine,