Evening journal., 1892-12-01
ASSESSED 0NEH HUNDRED
Woes of Eastern Shore Spec
tators Only Increase.
THOUSANDS DROP IN SAN DIEGO.

he Original Investments Lost and as
Much More to be Paid in Assessments.
Elkton Men swindIed out OF Thousands
OF Doliars-E Experience of New York
Spectator.
From time to time since the failures Of
the California National Bank of San
Diego the EVENING JOURNAL has printed
the disastrous effect of that failure upon
well-known fnanciers and spectators of
this Peninsula, particularly the heavy
losers who live in Elkton and other parts
Of Cecil county, Md.
Los Angeles dispatch to the United
States Investor, well-known financial
paper, shows, by one example how the
Eastern Shore spectators have suffered
in original holdings Of stock and subse-
quent assessments:
Zone Of the striking and characteristic
performances of the late President j. w.
Collins, of the now defunct California
National bank of San Diego, who rem
dered himself late by means of pis
tol, and of d. d. Dare, cashier, who is
now somewhere in Greece or Asia Minor,
came to light here few days ago. DR..
Clark w. Dunlop. of New York, visited
he deposited his money in the California
National. The bank paid interest ON de-
posits, and after DIR. Dunlop's brief stay
he went back to New York and drew on
his deposit there through his New York
bank the Hanover National. 1t was
promptly paid and the doctor was much
pleased On September 3, 1891, few
weeks before the bank closed its doors,
DR.. Dunlop in New York wrote Collins
asking advice concerning securities for
Investment in San Diego, stating that he
had some money he desired him to invest.
Immediately on receipt of this Collins
wired the doctor that he had at once sent
him some securities for his approval.
Meanwhile, for him to deposit his funds
in the Hanover National, to the credit of
the California National until he should
have decided, the latter bank allowing
him interest in the interim.
The security Collins had sent the
doctor was certificate No 800 for 100
shares capital stock of the California
National and accompanying it was a
letter of the business social order, in
which Collins explained that the bank
was paying semi-annual, 8 per cent.
dividend on each share of its capital
stock, that it was loaning its money at
rates above per cent. on its choice of
paper, and that there was no better in
vestment IN town. Dunlop made in
quiries concerning the quoted value of
the stock of this bank. and found it to
be 1922. 90 per share, that being So 90
less than the sum per share at which
Collins offered to sell it, which was $125.
The doctor wired Collins to know if he
could purchase certificate No 369 at
1922. 80, the quoted market price of such
Il y 4 L
could. The same day, the doctor for
war ded to the California National bank
$12, 250, through the Hanover bank. of
New York, and it was duly received; six
weeks after the bank passed into the
hands of a receiver with not enough
assets to pay - per cent. to its deposi-
tors. The United States comptroller Of
currency has levied an assessment of
800 on each share of the stock and Dr.
Dunlop has been requested to pay S10,-
000 or suit will at once be brought
against him for that amount.
Spectators in wild West stock.
The Eastern Shore losers are:
II. H. Brady, of Cecil county, vice
president of the National bank of Mary
land, original investment, SS, 900.
Charles b. Finley, of Elkton. cashierof
the National bank, original Investment,
$4,000.
Clarence Strickland, bookkeeper Of the
National bank of Elkton, original invest
ment, 81 00O
Dr. Charles NJ Ellis, of this town
original investment. s.. 600.
George Cosden, of Cecil county, orig
inal investment, $1,000,
H. H. Haynes, president of the
National bank of Rising Sun, Cecil
county, Nd, original investment,
SIC, ,O0O'
John D. Haynes, cashier of the
National bank of Rising Sun, Nd, origi.
nal Investment. 81 ,000
A man by the name Of Thompson, who
lives in Chicago, H., but spends his
summers near Newark, original invest
ment, $4,000.
Dr. Hare, of Rising Sun, Nd, and
Cashier Ramsey of the National bank Of
Oxford, Nd, are said to be in it for
several thousands.
Miss Martha Finley, the welt-knOwn
Elkton blue stocking, who wrote the
"Elsie Series. is involved. 1t is alleged
that she made an original investment
Of So, OO0
This makes the announced losses foot
up to more than $50 600, to say nothing
of those not announced. Every stock
holder must pay 500 on every share Of
stock held which dOublps the loss