Arizona weekly citizen., 1884-05-17
TO THE WALL.
The Bank of Hudson < Co. of This
 City Closes Its Doors.
What the Members of the Firm Have to
 Say Regarding the Matter.

There was considerable excitement in business circles in this city Friday about six o'clock over the announcement that Hadson G O., bankers, bad closel theIr door and had made an assignment to NIT. T. l.. Stiles. The firm was con- sidered solid one and the members who compose 1t, Mr. Charles Hudson and Col. J. H. Toole are sill regarded as pc festly good for all demands against them.
 On Saturday the reporter called upon Alr. Stiles ID the office of t'e bank and ne stated that they were busy adjusting matters aud that he did not think that any Of the creditors would lose any thins. At that time no figures could be given but the affairs of the bank were rapidly being put in shape.
 The reporter tuen visited Col. Toole at Lis residencs on Stone Avenue, and found that gentleman in somewhat agitated state Of mind. He said he felt the blow terribly both financially and mentally. He mad spent the best years Of his lie here and this blow WAS one felt to be the severest oi all tha, had ever been giren him by the fates. He says they have securities here sufficient 10 more thar pay the obligations of the 6rm and tina. they w.ll at once be set l hot Naa T.. .as . the cause of the failure to the fact that l firm had been too liberal in loans on real estate and to inning comFsuie-.
 Tue principal trouble arose ia tEe branch bank at Tombstone where tue 1 firm had large loans with mining com panles. The closing down of some of the principal mines there had them placed m the unpleasaut pcedIcamsnt they a.e nov ln aud Rad been the direct cause ot the disaster. The Colonel sta ed that h,. had lost S15,00O m that bank and tuat ne had positively taken no acton to cave himself. He il .s a famiiy coasis i.g ,t wife and four children aud nothing .ed, so far as known, but his home. he nop~s, hoSeg T, to have tne matter straishteued out aud place hims, II uu sclI footing nancIaliy. He Coes DO; propose tD shIrk any obiIgat.on and will remain iu the city.
 rae rep 'rter then called upon Nr Hudson at uis resid nee oI North M .Iu -.Ieef, who has been cOus .dered the head of the firm. He wa considerably asi- tated, but admit ei the r-pOiter readily aud made a out the same statement maie by MT. IUOie. Ihe trouble was tuat the mining companies at Tomb stone winch have rec n,ly shu; down we're mol expected by them tI shut down before the Ii oi June. and tlls expectation piac q t.em iu position tn 4 C u,rG tLem tr close tLe!r doors wngn the mines slut down. Mir. Hu i- -oI \ at q tn st nri.h Df the paTtn-Fs m their firm pad taken any stels io ue- frauI tlrIr crtdiio &, and ;hat wUllt tbty might have ueiI their real and per- nal pto4ery iy transfers. tn,y u.d uut done II, but had placed a. CT laa- ful pas-e>-IoUs In tEe hands uf tLe r.-- ceiNC. Tn r. was cJ. siderable com m, ton tliS morning a, tue Fist Na.i,ual bank ani 1t was rr- ported that a h havy run had been made by dep sltOr, on th-t institution. bus the report prJvcI c. b. uutrue. Air. 1 Jccohs, th. cashier, stated Co the T, DOT er that there hai b.e1 some agitation, bu! | no run on tae baIk, aud that all vas serene. He sad tHat they had no busI- 1 ness to amount tl anything with the l other bank and that Lot twenty y-fiy- ] cents ln account stood unsettled between l taem. He handed the reporter the fol- l towing official statement reggrdiHg the 1 condition or the bank: