Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1884-07-17
srs FAILURE.
Scenes or Excitement which Recall
the Dark DAYS Of 1879

Scenes or excitement Whtcn becAih
the Dark Days Of 1873.
IsDIAKAPoLIs, July l5.-This morning
the doors Of the banking house ofFletoher
& Sharpe were not opened, but upon the
window vas posted the following notice;
To our Depositors; Owing to our inability
To realize on our securities, we regret TO say
that we are compelled to suspend payments.
Our property Is ample to pay all depositors as
soon as Il can be converted.
FLETCHER & SHARPE.
The members Of TIE firm are Thomas
H. Sharpe, Ingram Fletcher, Albert &.
Fletcher and Stoughton A. Fletcher, Jr.
The latter is now at his summer home in
ludlow, having very poor health. The
other members OF the firm were In the
office at an early hour In consultation
with their attorneys. But as soon as the
determination to suspend was reached
they all went home, leaving the bank in
charge Of, subordinatss. AS soon as the
announcement was known the grestest
excitement was created throughout the
city. The blow was utterly unexpeots d.
| o ily one banker In the Clearing House
mad the faintest idea OF the embArrass.
ment Of the firm. Had the bank asked
for assistance all that might have been
necessary would have been readily forth.
coming Mr., EsSlish of FRS National,
says he would rather bAv loaned them
100000 VI thew pen on~l a.eurity than
to have had the al 'peDsiUn.
The Hon William Wallace was Ap.
pointed receiver on the petition Of
Stoughton A. Fletcher, Jr., and took
charge Of the bank at noon. He reports
that on an examination he estimates the
liabilities al o., 800, 900 and the assets a
&2,000,000. The assets include the per.
sOnal estates VI The partners, which are
estimated at 81 100000. Tns receiver
says this Ia low estimate, but tn,
assets are principally resl estate, upoI
which realization will be SLOW.
The suspension caused run on nearly
all the other banks Of the city, to whom
as stated, the failure was complete sur
prise. The heaviest run was on Rirzin
eer's, q bank where small depositors-
Germans aud workinRmen-have thei
aorounts. There was great crowd her
ali day, but the Amonnt OF money draw
was comparatively small, aud by deposit
from leading German citizens the banl
was stronger At tie close of bushes
hours. A heavy run was also mad
on Fletcher & Churohman, tn
similarity Of the names cAusin
the impression that this bank wa
related IN 81 me way 20 ths suspended in
stitution. But business men made tbei
derosi:s az usual, and the bank his
more money a. night than In the morn
ing. Fletcher & Churohman have ala
large credits both In New York an
in Chicago, which have been called In
The runs on the other banks were nc
serious, but there was steady draw al
day While there was much bette
} feeling Ia the city lat5 in the aiternoo
aud tonight, there is yst great anx!et
; on the part OF bankers aud th
} business public for the result,
} Of to morrow. All tho babkeri
/ however, express confidence that ther
, will be no further suspensions. Their
, has been no such scene OF exoitemer
3 since the panic Of 1873. There are man
3 women In the crowds about one or two {
3 the banks, and in the crush numbt
) we're hurt and several manned. Mr.
5 Thomas A. Sharpe and Mr.. InPrai
I Flttoher are both confined to their hous,
? IN, the latter quite seriously Frustrated
None OF the pafturrs has any thing to 50
D Tor the pubic. The tffsot Of the suspsi
: si,n Throughout tha state ~ great
i tea ed, a. tue ba TX w,s suoh an old an
i we'll known Que, AID bAd suJh Wild
/. spread bu .in,ss rela inns