New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-15
RANK FAILURE IN BALTIMORE.
T. J. NICHOLSON & SONS ASSIGN.
r.Mosr A RIOT BY THE EXCITED DEPosIToRS
No ETCI-RFS OBTAINED.

\
NO FIGURES OBTAINED.
po,tr,ore Ian IA (speclnD. Financial circles wero
startled to-day BY the announcement OF the failure OK
I + Nicholson q sons one OF the leading banking
houses Of Baltimore. The assignment was made 10
John NJ Carter, a lawyer, and Matthew NJ HIhe'i,
boohkeeper Of the firm, as trustees 1hey qnaiine"
n the sum Of 100000 the bonds beng iuflshed oy
the Fidelity and DEPOSIT Company. Neither ina
trustees nor J. Ii. r. Nicholson. the only surviving
member Of the firm can state the liabilities 1t Is
estimated that they will exceed S3oO,oOo ana may
reach 100000. The assets are estimated at @2Oo'-
OOO In financial circles 1t is believed That the hiuo
IS very bad one, and that the sudden dea'n VI
A. j. Nicholson the other member 81 the nfh' aoouo
n week ago. WAS caused by worry over the Impending
crash. lie drppd dead while t"lhihg 10 Ss'e''.
lancers in hi, private Office, and II is reported uao
tue subject Of their conversation ut the ufhe WE
the firms tigltened circumstances.
lie did not leave any will and II was SAID to-oaN
tina; the assignment WIS made to se'Iie up o'e e
1t was about O'Clock this afternoon "ueo u''
following placard posted on the ciose" uoo' vi "o
banking house on Baltimore-st:
owing TO the death Of Mr. ~ j. Nichoisoh ~'"
the IL health OF Mr. j. ii. r. Nicholson this sirrn has
mad, an assignment 10 John W. Carter ana hho'"sw
X Aiken for the benefit Of creditors. statements
OF the assets and liabilities will be prepared as
speedily possible
depOSitors they were cOnirOntn Ds Tue "pn"'i''S
neut Oh the doors In few minutes crowd had
,th.,sd TN. hank IS in the heart of the business
section and soon merchants and bankers @efo
iostling each other and almost hghung u get INV"
m. buildng The depositors became angry ana ex'
cited and began making threats one DIG man
nushed through the crowd. put his shoulder 70 tne
door and Was about to try 10 force II open when .
policeman prevented him. shortly after O'CLOCK
toepbone call was sent TO the Central station asking
that detail Of officers be sent TO the bank ms great
crowd had collected and was acting IN disor'ery
and menacing manner. The officers were haSuiy uiS'
matched to the scene. and found crowd numperna
nearly 200 persons congregad in front Of the bank
cl,poriny for admission. Many who declared ticHlf
so,ves denostors hammered excitedy on the locAea
doors with their fists, aud shouted for 'nS
clerks 10 open the doors Inside the bank III u'e jim
,a.lgh, several clerks and the cashier could be seen
moving about. They appeared 10 be niSh'enea anu
looked relieved when they caught sight oi the DUG
ooots OF the officers The crowd was driven back oy
the policemen and many stationed themselves on thd
o,noste side Of the street " await Developments
crowd gathered at tile side windows on hcTieiiahs
alley and hooted NJ those inside They were soon
driven await Just about this time the bank runners
began to arrive from the other banks. They vainiy
sought admission and departed one by one.
In the private Office sat j. ii. X. NICHOLSON APP
narently pustrited. Beside him WIS his brother.
bishop Isaac Lee Nicholson, Of the Protestant Epls-
copal Church, Of Milwaukee, trying TO comfort him.
Edwin warfeld vcepresIdent Of the Fidelity and
Deposit Company was also with the Frustrated banker
aier e said that II absolutely Impossible ms yen
IN tell the liabilities. several baltimore banks and
two OK three New York banks are affected by tho
failure In the deed OF trust by John III. *. NICHOLSON
nl OF the property OF the firm both real personal ana
mixed is given 10 10 toward quidsting the debts VI
the firm. Two funds are provided for individual aid
partnership They are to be kept separate ana DIS
inct From the first l. to be paid such loans ana
claims properly chaIgeabe TO that nnd ana our
Of the remaining fund are 10 be paid all the business
debts without distinction.
, The firm was organized I'm 1928, and the members
have always enjoyed the highest confidence of Tie
community.