The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-20
BIG FINANoIAL3CRAsH.
Tho Bank OF Durham, N, c., Falls For
s6oO, 600

Tho Bank OF Durham, N. c., Falls For
1900. 600
DURHAM, N. O., Nov. l9.-The largest
failure ever recorded in this section of the
State occurred early last week and throw
tho whole town into the widest kind OF
excitement. II was the failure Of tho
Bank OF Durham, a State bank, owned by
w. T. Blackwell. People were standing
in groups at all parts Of the town discus
sing the financial situation aud tho widest
kind Of reports could BE- heard. This
evening tho excitement' has somewhat
abated, the people having learned that
the other banks were financially sound
and that tho bank suspended would be
able to pay its depositors In full. II is I'm
possible at the present time TO get a
schedule Of the assets and liabilities. Busi-
ness for today among merchants has been
paralyzed.
The failing bank has made assignment 10
Messrs. w. s. Halliburton. cashier, aud V.
Ballard, business agent, OF w. +. Black
well. The liabilities are estimated at about
500, 600. The amount OF preferred credit
ors is about $4,000. Some Of them are
given below: Mr.. J. s. Carr, president OF
the Blackwell's Durham Tobacco Cooper
alive Company. $4,000 II. W. Fries,
5000; Z. ii. Belvin. cashier Raleigh
National Bank, 5000. The depositon arc
all preferred, and will be paid in full
Mr.. w. 5. Halliburton, cashier Of the
Bank OF Durham, says: 81 do not believe
any one will lose II. Col. W. 4. Black
wells individual property u all unencum-
bered aud goes into the usscts OF the bank
Of which Col. Blackwell is president The
tax valuation OF real estate and personal
property is about 500, 600 II we are able
to collect 20 cents ON the 81 OF money
owing to the bank We shall be able TO pay
all its liabilities and have money left with
out touching Col. Blackvcll's individual
real estate. Our New York correspondents
are the National Park Bank and Fourth
National Bank"
Mr.. V. Ballard, one G. tho trustees,
says: eve are getting up tho schedule
OF assets and liabilities. There win be no
loss 10 q single deposi,or, and l fully be-
lieye all creditors will be- paid In full. {"
lie attributes the assignment OF the bank
10 Mr.. Blackwcll's large aud kindly feel
ing and liis indulgence Of his patrons and
carrying their paper too long.
From private sources | have been ~.
surcd that Col. Blackwell had plenty OF
good paper, but lac did not wish 10 push
the men lac had beiricndod. Col. Black
well is one Of the largest real estate own
en in town, and has always sirived To
push Durham and make il the largest
manufacturing city In the State. lie rs
the founder Of the famous Blackwclls
Dursam Bull smoking tobacco, aud has
always been very liberal aud oniorprsing.
The people here 1ympathizo with him, aud
hope ho will come out well.
On account OF the Bank Of Durham
making an assignment six firms had 10
suspend. and all made assignments, ox-
ccpting one. They are a. follows ". n.
Ellis, dry goods, 10 w. = Halliburton,
trustee; amount of liabilities estimated,
as, 900, preferences, $1,000.
Robbins stone, general merchandise,
TO Lucius lilly, trustee; estimated liabili.
tics, $1,000, assets cannot bc ascortainod.
Muse & Shaw, dry goods. 10 w. s. Hal.
liburton, trustee, estimated liabilities, s25,. 4.
900, assets not known.
james w. Blackwell aud wife 10 s. T..
Watts and J. VI. llicks, trustees, real os.
tate dealers and manufacturers. estimated
liabilities, SlbO. 600; asset. not known.
J. Parrish, leaf tobacco dealer. made an
assignment TO ]. NJ WhiGcd aud iW. NJ.
Fuller, trustees, estimated Liabilities, $780,
600. assets not known.
Mr.. J. \. lockhart, lcal tobacco dealer,
has made y deed oi trust 10 Mr.. J. &. Carr,
securing him for s75,OoO. could not learn
anything further In this case.
LIABILITIES PROBABLY A MILLION.
Mr.. w. w. Fuller, attorney for some Of
the largest failures, esiimi rs the liabilities
at about $4,000 Probably million
would be nearer the mark. lie repre-
scnts the Bank Of Durham and T. J. Par
rish, J. w. Blackwell, ~. 4. Ellis, aud
Muse & Shaw lie belicgcs that the other
failures were brought about by the bank
not being able 10 curry tilem longer.
Mr.. w. NJ. Morgan, cBhicr OF Eugene
MOrehoad * Co, saws thtro IL no moro
danger, their bank Is solil. aud thoy are
able 10 stand run. The; have not lost a
single dollar by the finan alcrisis.
Tho cashier of the Citizens Savings
Bank says there Is no run being male ON
them, and they report no Ices from the
Ill -. Al. A.