Arizona weekly citizen., 1884-06-07

| l Profit ana lOss----- . 2a syl T.
 Capital stock account 20uOl Ol
 Iotal----------------------- -Si O. To place, however, this statement of
 assets and liabilities IS not only mIsiead-
 ing m the extreme, but gross insult tu
 the intelligence of the creditors. Tin
 balance-sEeet completed by your con-
 mittee, after close inquiry, IS as follows:
 The balance sheet completed by youy
 committee, after close inquiry, is as fol-
 lows:
 REsoURcEs
 Cash considered good dS Sss5 a
 1il.s receivable cOnsidt req good s5.57s r.
 OseTdfaf'-, cor siderrd gOOd---------- g si1
 tuFhlSHne. Zuh O
 An. K National Bank-------------- 2.,Os | | tlrst National Bank of Los Angelrs 10 .y6 y | Massachusetts Aa ionRl Bulk 55 &
 Merchants Loan and Trust Co..-. S58 5
 Bank of COmmerca. St. LouIs- 6ll 7u 1 Central Bank of Philadeiphia 7Tg2 si | Pima County Bank ------- IS r. l First National Bank. II Paso- q ( l Central Pacific railruad d----------.- 500 0l | Force .osure account. ToAl estate pur-
 l clhse------------.- ND Ul
 Real estate. C. Hudson--------- S.IO 0l | Estlmsted value of Tooie's real estate 2LuO O. l interest on 70. o' "
 TotaI----------.-----.----------------slsi.eOI 5 | LIABILITIEs
 l Due individual deposltors- sIql. .76l & l Ang O-CalIfOrnIR Bank k--...--------. 6J iui SJ | J. W. Ssligman & Co------------- l16sI s,
 fIrst National Bank of Santa fe-- l.l05 g. | Bank or Arlzona- --.------------..-.. ssj .. | k.les Lewis. PhenIx 2lI 3. | lOmbs-One branch 6s.0a3 q | Fi-k. Walbridge X Co.,. G!obe------ ~ O. Silver City ak------------------ III 0
 Total--------------------------------ssi2sg ssi2 SD g2 | Takiu 2 the Tucson and Tombstone bauk-, ard ! omoInIng their affairs. the follOTing is OO- taIned:
 Total reserves Of Tacson- -sisd.2g s2 | Total liabilities or TOmbstone------ 70ou1 2.
 Total---------------------- -S255,2)5 5s Total liabilities Of Tucson. lees bal
 ri ah9e dqe s q S'
 --------------------s.9iaH q. Excess of e
 The statement of the resources anC liabilities of ths Tombstone branch is based on an estimated payment of S20. 000 to preferred creditors.
 4 comparison of the two statements will no doubt be of interest, as the banks statement shows solvent con cern, while that of your committee makes 1t hopelessly insolvent Ohe.
 Cash as per bank statement t.--.=---S S2I fsB Il
 Counting everything that could by any possibility be considered as cash, Ht its face value, your committee found the amount 1t gives. In :ne banks state ment there was carried as cash vouchers for sundry items, aggregaiing to the l difference between the two amounts, some of which may be good and mall | worthless, but none of them cash | Among these vouchers the largest are: |
 a. Check of Charles Hudson, money | used Tn purchase of real estate, Sln.00J. | Regarding thls transaction, the members of the committee could only fud prop erty valued at present at S3,GG0, which IS included m the statement as S3. lUO, value of Hudson's real estate. Now, the balance of the money Is entirely unac- counted for, and MT. Hudson should certainly be called upon to expl .in, as II was the banks, or in other words de positOrs' money, that was so taken out and is gone.
 b. Package Of checks and other me morands showing the liability of the Tucson and Gulf Of California Railroad company to Hudson x Co This amount is secured by S59,O00 of Pima county railroad bonds, which are in the hands of the Anglo CalitornIs bank fo; negOtiation-Sl5S S2lI6. While We have no desire to say anything cOncernin. | either the Tucson and Gulf of Csli- lorna railroad enterprise, or the wis dom of the officials of Pima county who issued the bonds on the faith of tLe county in support of the corporation. still We cannot but be surprised that Hudson X Co, should use depositOrs money to build the line. Bills receivable as per oank---SI75.t6 .t6S 7s z Ifa afa.a !
 Difference. ,5go 5s represents the amount of the notes c which the committee considers queS- q ionable and worthless. The srcarity f rIven on notes generally was of So va n led a nature as to warrant the state {! nent that n this special liEe the busi- less was more closely related to that of ,awn broker than of the banker. The interest due on notes ls conclusive evil ence of the loose. fl not criminal, man. Ter III which the depositors' money Was audled.
 he accrued interest on good notes is--Sio. .s0S s9 h questionable notes-- Auli tN To worthless notes T., i5J su Total ,si9 6l 1me of which has been accommodating il nce 1879, even where there WAS secur- i y given and collection should have N cen forced. !' The amount of aotes whose collection ia
 doubtful is S3O.330, and Of these V, ,, zoo is secured by railroad bonds sIm- ar to those before referred to; S3.S25 Y Aio, Gunsight and PicachO mining h ,curIty; S3.250 by southern Belle nin- e' ,g stock. and Sl0O00 by the stock of n, -l- l,s ] Rkcs so brilliant the fair city of Tue '' ,n, and which levied assessment No. 6 p' D cents a share. to become delin- al lent on May 21th last and ot all these p' ore hereafter.
 Tho worthless notes aggregate S62, T D. and the following are interesting.
 they show how liberal the business fir as in Tucson, and how very different q, on the way it was transacted m Tomb - one, where the money wss deposited m ' hard working men: de
 Princip.l. Interest. P, ]. Hudson. son of Charles < 2eoO c Si-sc9 co , l. Hudson. si.oo; value of III .ecurity S3ti: loss Nn n 6-l to nc nd \ Williams. ha krupis Suls VI sA ~ f r. Bivins. Gunsight man. Sup u A.'uu uo to lily. Ochoa Co, unse- ., o..o =: lily, Ochos & Co.,, second
 mortgage A"'S'' N' -''e- ~ d the gentleman who holds the first ortgaGe has stated that the property is te sufficient to make good his claim, To lich he has commenced to forecloSe. ,ic Note No. 1,0i4, for S3.OO0. was secured the residence of NJ. T. Brown. and AT s been taken out of the bank and re- frc aced by Charles Hudson's cheek. He & s been living m the house referred to .h ! rved the property from assignment as Lo ,on,actaod a p,afsar {, rrh,ob ,ra oou .h.