Savannah morning news. [volume] (Savannah) 1868-1887, 1885-04-04
MERCANTILE CALAMITIEs.

The Government not Loser by the
Norfolk Crash-DHn's Report.
WASHINGTON, April 3.-The Comp
troller OF the Currency sad to-day that
while the failure of the Exchange Ma
tional Bank of Norfolk, Va, is a most
serious one, the government is amply pro-
tected and will suffer no loss in conse-
quence.
DEPosITORs HOLD A MEETING.
NORFOLK, VA, April 3.-The depositors
of the Exchange National Bank, which
closed its doors Yesterday, held a meeting
this afternoon to consider what action it
might be necessary to take to protect
their interests. A committee was APP
pointed to take charge of the matter ami
report, after an investigation Of the affairs
OF the bank shall have been made, whether
it will be better that a receiver shall be
appointed or that the Secretary of the
Treasury shall be petitioned to allow the
bank TO 90 into voluntary liquidation.
THE GOVERNMENT DEPOSITS.
PETERSBURG, VA, April 3.-The gov
eminent had on deposit in the Exchange
National Bank of Norfolk between $780,
600 and $500, 600. These funds are inter-
nal revenue collections made in the Sec
ond district of Virginia, of which Capt.
Asa Rogers. OF this city, is Collector.
Since March 81 there has been forwarded
by express from the Collectors Office here
for deposit in the Norfolk bank about
$1,000, which was returned by the express
company to-day to Collector Rogers, IL
not having been delivered at the bank.
Collector Rogers to-day received a tele-
gram from the Secretary of the Treasury.
instructing him to deposit the govern
ment funds collected in this district in
Richmond Hereafter the funds will be
deposited in the First National Bank of
that city.
1855 BEST REPORT.
NEW YORK, April 3.-The failures oc-
curing throughout the country during
the last week reported to X. G.. Dun ~
Co.'s mercantile agency, are the smallest
chronicled in any week since the year
1885 commenced. In the United States
there were 1877 and in Canada "a, a total
of 23l, against 277 last week, and 25S the
week previous. Three-fOprths of the fail
ures are furnished by the Western, South
ern and Pacific States. In New York city
the assignments are light and few.
The following failures are reported TO-
day: j. NJ. Martin, general store. Wood
stock, Va; J. l.. VIII, agricultural i'm
plements, Mount Clifton, Va; j. Il ID.
Beusse, liquors, Athens, Ga.
TRIAL OF THE PENN BANK wRECKERs.
PITTsBURG, PA, April 3.-The trial OF
eX-President Riddle and Cashier Reiber,
charged with conspirng to detraud the
depOsitors of the defunct Penn Bank,
will be taken up in the Criminal Court
next Monday. Riddle, who is under
$4,000 bonds to appear when the case is
called, has been missing for several
weeks, but his friends claim that he will
he on hand when wanted. The case is
attracting a good deal of attention
Some interesting and startling develop
ments are expected. Assignee Warner
is reported TO have said that in his opinion
the bank would not be able to pay pei
cent. of its Indebtedness.
POPE, COLE 4 CO.'S OFFER.
! BALTIMORE, April 3.-Tne trustees o
| Pope, Cole IL Co. have made proposition
! to pay 50 cents on tire dollar OF $500. 00I
unsecured liabilities, of which $4,000 il
| to be paid in cash and the remainder OF
time. The assets are large and there is
probability that a settlement will be madt
on that basis. Such a result viii assure
continuance of the copper works, on,
of the most important industries OF Balti