Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-11-16
A BIG SMASH.
FAILURE oY SIX HOUSES IN puRHsn.
NORTH CAROLINA.
Great Excitement IN R~alsigh-rhs Liabili-
tiss-Prspsripg FOR Winter visi-
tcrs-0ther Notes.


ham. Mn UNflNfN NitIt IIdN1 N%NtANsA'A'F
this moruing, the aggregate liabilities OF
which approximate Sl.000.O00. The trms
making assignments are the Bank OF Dur
ham. W.. L. Blackwell. president, 100000;
f. !. Parrish. $4,000 w. r. Ellis, S28,-
COO; Muse & shaw, $4,000; Robbins &
stone, $1,000; j.. W. Blackwell, 100000.
The great majority OF people here were So
founded at The news. which was received
sarly this morning. BlackwelPs liabilities are
estimated at si00,0 900; Parrsh'sat $4,000;
and the Others al large amounts. The sched-
uIe % assets has not been obtsincd. Con-
corning these there are various rumors. some
stating that most ~ the houses will psy out,
Others saying thai all are ruined and viii tall
short Of their liabilities. Parrish and LOckart
are two lesd1ng tobacco warehousemcn, ana
their failure must necessarily cripple
the tobacco interests u Durham. The
failure a Blackwell. president OF the
Bank 0f Durham. a private banking
institution. g. the largest. lie was generally
considered worth bali a million and thought
10 be perfectly solvent. HIS iSilure was the
biggest SURPRISE Of all. Interest in the mat
fer has caused some investigation during The
day. ADD ~ is learned that last June bis re-
port 10 the state Treasurer showed the FOL
loving figures: Capital stock, $4,000; un-
divided profts, $4,000; deposit, $4,000,
SGg. 900 81 watch was subject 10 check, The
remainder subject 10 ten days notice OF
Withdrawal by dsp0siior. There were loans
amounting 10 $40. O0o. $4,000 Oi which
was secured by individual notes and paper,
without Enforcement. The rediscOuDtcd
papcr amounted TO 1902, 600; overdue paper
$1,000: ovrrlraits, S2j 900. A note on
lie stttrmcni said that Blackwell, owner of
tn RoDk % Durham, held Teal estate valued
al e3-3G'O. on which there was no encum'
trluca. The crash appears 10 be pretty
thorough. T. is thought that the hank
would even now pay up every cent II real
c.f,fe should scii Tor IT, value or cost; but
the depression IN value consequent on The
tremendous failure VIII make this wcil-nigh
IMPOSSIBLE. II IS impossible 10 obtain fuil
details up 10 the close % tins report.
State. Innigr1tiOn-Agcnt Patrick has Just
made 4 visit o. OxiOrd. PittsOOrO', Southern
Pms. end Durham, where be arranged with
toe best families 10 take winter hOarder-
from the Sorta. lie has bad numerous ap-
plicafions from those who heretofore win
ira in Florida. lut o. whom that state has
become undesirable on account Ot yellow
foyer. 4 number ~ wiutcr cottages have
been built a. Southern Pines, and ell have
been engaged.
u appears that the movement to hold a
convention OF State pensioners in this city
VIII lc successful. Application has been
mode for low railroad aDd hotel rates. The
convention viii be composed Of disabled
Confederate veterans who are now drawing
pension, from Che state. Their object wi
De g. hayc the pensions increased u posi-
b'c. rnd rcrlrps 10 suggest some measure
by which this may bc done without a strain
ON tho state Treasury.
The colond military company OF Char
Lore has already decided 10 attend the inou-
duration Of President Harrison in Washing
ton city.
A call has been issued for o conference Of
thc Strie Committee aud Other prominent
Pr0hlhlioni.ts 10 meet In Greensboro on
Tuesday. November 2oth.
Gentlemen who have travelled IN all the
southern states during The present year say
tlai North Carolina Is m the lead IN the
matter Of railway construction. This de-
yclopmcut Is not confined u any particular
section of the state; g. Is General. II u the
opinion ~ men well informed That The big
schemes az railway consolidation Will affect
North Cnroliua very iniuriously. The rail-
Wa1s, IL all w%cieunder one control, could GER
tliulv De- made oppfcs.0rs. and IN two ways.
Tirst. rates could be raised, no matter how
hieh 20 there was eQulli2qtl0n. and the pcO-
ule would have 90 foot the bills. Second, a
great railway combination, which would
control the movement OF the cotton crop,
could also control 10 a large degree the price
az cotton. Al this talk about consolidation
viii be- sure 10 Intensity the desire Ter a RAFT
way commission. 4 recent decision Of the
Iuitcd states supreme Court shows that thc
States have The power "a appoint such com
missions. and t. clOlhc them with very fall
authority. II mny, in fact. be almost as
stunned that North Carolina viii I'm . few
months have a commission as a safeguard.
The Democratic campaign I'm North Caro-
lima. great as was the work done, cost ONLY
some $1,000. TITS said. The Republicans are
believed 10 have expended, one way and
smother. e0mo seven times as much. This Is
apart from money put in in TIE way OF brides.
Nc. which doubtless would make quite "A
cum. The scope Of the Republican move
meutt 10 capture The state is only Just now
coming 10 no realized.
Wilmington. though there Is q falling on
in cotton receipts as compared with last year,
Is doing well this season in n commercial
way. Great results are expected 10 follow
the completion Of the Cane Fear and Iafkin-
Valley railroad TO Wilmington. The stock
81 this enterprising road IL now qToted at
l0j. Eight ycirs ago The road was a
mere venture; TOW IL is a great enterprise,
successful and growing daily IN strength.
Tue test of the cotton picking machine
here was q failure. That Is the summlng.up
Of the views OF people who ought 70 know
about such things. IL is very evident that
the negro Is not 10 be displaced by the ma
chine.
An earnest effort will be made TO increase
'hc public school facilities IN 1889. The Con-
slitutt0n requires the public schools TO be
kept open four months in the wear, but that
mandate Is not O1eycd. Many people now
believe the Elair bin will now be passed. but
n IL is rs benefits are conditioned upon
equal state appropriations.
The Farmcrs' Alliance tobacco warehouse
~ oxford Is open for business. 1t is the
first in the State to lie under Alliance man.
sgcment.
The negroes are reported TO be making
things particularly unpleasant for those OF
their race who had IN, courage 20 vote The
Democratic ticket. The women are said TO
be worse than the men In their threats.
Quite rapid work Is being o on -. An
drew's Presbyterian church ut Wilmington.
Green peas and snap beans OF the second
crop sre being shipped from the Newberne
truck farms to the northern markets. IIey
are grown In the open air. Three crops OF
lrisa potatoes have been grown there Ia one
season.
Ia Wayne county last Monday night Ruff
fin Pate. while 'possum hunting. was crush.
ed L. death 10y = tree which he had cut down.
The top as It fell struck other trees, and the
failing tree spnnglug backwards pinned
Pate % The ground. causing Instant death.
~ Weldon tome DAYS ago the screams OF a
cbild were heard coming from a boN'car
containing cotton. The car was opened and
there was found an eight.ycsr>old negro
boy. who, It appears, bad been In that situa-
iiOn three DAYS without either food or water.
The boy had fallen asleep In the car at
Wedgedeld. :. G.. iu.t before the doors were
locked. lie was sent home none the worse
for his novel adventure.
There Is a good desl Of "throwing out F"
% votes in the receut election. For in-
stance, two tow nSbips were thrown out in
Polk county. three N Fender, one in Jones, |
Que 10 Richmond. and seven in Warren.
FURTHER PARTICULARS or THE DURHAM CRASH.
iSpocial telegram to the Dispatch.l
DuRuAm, y. c.. November 15-W. Il. |
Blackwell. owner Of lhe Bank OF Durham, /
VINO assigued lest night TO Y. b. Ballard and
W. 5. Halliburton, conveys everything eX.
cep. legal exemptions. The employees are
preferred lrst; second, the hank deposi;ors;
third, Graham & Ruin and Fuller a Snow, |
attorneys; fourth. homo merchants; fifth, |
holders OF notes, drafts. and aceeptances on
which j. ;. Cars name appears rs surety,