The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1892-01-26

master, until his name and address
could be heard. Hewasa fine looking
young man, and looked to be about 35
yearsof age. Hisname was ascertain
ed to have been John Burns, Of 0ma-
has Neb. He was moplder by trade.
JEFFERSON SAVINGS BANK CLOSED.
shepherdstown Rsgisisr
When the daily papers arrived in
Shepherdstown last Friday morning,
and the failure Of the old banking
firm Of ]. J. Nicholson & Sons, Of Bal
timore, was revealed, considerable ex-
citement was created here, for it was
known that tbs jefferson Savings
Bank was heavy depositor with that
institution. A meeting Of the direc-
tors of the jefferson Savings Bank was
Immediately called, and after a confer
ence it was decided to close the bank
temporarily to avoid run upon its
funds that might prove disastrous. The
doors were thereupon locked and q
notice posted up announcing tempo
rary suspension, with the statement
that no loss to depositors was antici-
pated.
Jefferson Savings Bank had S15, 900
on deposit with the Nicholson Bank.
The loss Of this sum Of itself would
not have prevented q continuance Of
business, but of course the bank was
not in position to stand heavy run
upon its funds, which would in all
probability have resulted had it re-
manned open. The directors have been
using every endeavor to make arrange
ments for resuming businessat as early
q date as possible, but at this writing
we can give no assurance ofwhen that
win be. A paper has been signed by
most Of the depositors agreeing not to
withdraw more than ten per cent. Of
their deposits in any one month, and
when sufficient amount shall have
been signed, in allprobability the bank
will resume business. The creditors Of
the bank have shown every disposition
to help it out Of its present difficulty,
and the directors assure the depositors
that no loss will be sustained by them.
The failure Of the Nicholson Bank
was a great surprise, not only to the
people Of the South and West, where
they had extensive connections, but to
Baltimoreans also. It was established
in 1928, and has always done . large
business. A few weeks ago its head,
Mr.. Andrew ]. Nicholson, died very
suddenly, and its rotten condition
could no longer be successfully con-
cealed. 1t now transpires that for
some time past it has been in shaky
condition and its business conducted
in very loose way. After the death
of Andrew Nicholson, Mr.. J. II. r.
Nicholson had practical charge Of the
bank, but in couple Of weeks he gave
way under the strain and he is now
reported to be mental and physical
wreck.
The Nicholson Bank was the CORES
pondent Of number Of banks in West
Virginia and in the Valley of Virginia,
several Of which are reported to be
heavy losers by it. Its failure has
also resulted in =the assignment Of
three Baltimore firms the Baltimore
Publishing Company, the building sup
plies firm Of Geo. 0. Stephens, and the
boot and shoe house or Allnutt, Nixon
and Goldsborough.
Trustees of the defunct bank have
not yet prepared statement Of its as
sets and liabilities, but it is generally
believed that it is complete smash.
The liabilities may run up to million
dollars, while the assets will scarcely
be couple of hundred thousand.