The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-05-19
A CRASH At BRUNSWICK.
N. Ullman Commits Suicide and Two
Banks Fail.

Ullman the President of the Ogle-
thorpe-The Two Failures Looked for
for Some Time Past-Depositors Apt
to Be Paid in Full - Considerable
Stock Held in Savannah.
Brunswick, Ga, May 1S.-President M.
Ullman of the Oglethorpe National Bank
committed suicide in the toilet room of
the bank, k,at 10 o'clock this morning Mr.
T1lman was also president of the Bruins
wick Brewing and Ice Company, the
Cumberland route line of steamers, a
half partner in the firm Of Mayer & Ull-
man, wholesale grocers, and a large stock
holder in several big concerns of different
kinds in Brunswick and elsewhere, and
until to-day counted by a majority of the
citizens as one of the wealthiest men in
this section.
Immediately after the suicide the Ogle-
thorpe Bank closed its doors, followed by
the First National Bank a few minutes
later.
President w. E. Burbage of the First
National Bank, director in the Ogle-
thorpe National and Mr. Ullmans
closest friend, was the last man
who saw him alive. He walked
to the bank with Mr. Ullman. about 9
o'clock, both chatting pleasantly. Shortly
afterward Mr.. Burbage came from the
First National and requested Mr. Ullman
to repay loan from the day before. Mr..
Ullman said "All right; wait minute" "
and stepped out to the toilet room A
moment later Mr., Burbage heard a report,
which he thought was a chair falling
Finally, when Mr.. Ullman did not return,
he went for him, and found his body sit
ting upright on a bench with bullet
hole in the center of his forehead and
blood flowing in a rapid stream to a pool
that had already formed below. Mr..
Burbage hurriedly spread the news, and
it went like wildfre
THE CITY WILD WITH EXCITEMENT.
The streets were soon crowded with
excited citizens. A slight run commenced
on the Brunswick State Bank, but Cash
ier Cunningham and Vice President A. j.
Crovatt met all demands and Mr.. Crovatt
stated that if necessary they would re-
main open until o'clock to pay any per-
sons who wanted their money. AT the
Merchants and Traders Bank no run was
perceptible and Cashier Lane stated their
readiness to pay any one who called for
his money.
The Brunswick Saving and Trust Com
pany is also solid and no run was made
there.
The Oglethorpe and First National banks
Burbage and Ullman, the two presidents,
entertained a Damon and Pythias friend
ship for one another.
President Burbage stated to the MORN
ING News correspondent this afternoon
that he believed both banks would pay in
full when they got in the money that is
due them. Some of the largest depositors
in both the closed banks express the same
opinion.
The firm of Mayer g. Ullman, Wholesale
grocers, have closed their doors tenpor-
arily. The firm is composed of Sam
Mayer and M. Ullman.
The Brunswick brewery will close tenn
porarily.
The Brunswick cotton factory will be
closed temporarily. President H T.
KennOn says the factory is perfectly SOL
vent. They owe the First National Bank
a nominal amount, but have held the
money in hand to pay all their indebted
ness pending the settlement of a small
matter in court
Rumors affecting the Oglethorpe and
First National banks have been circu-
lated under cover for several days, and
these rumors caused a run that forced
them to the wall.
VERDICT OF THE CoRONER's JURY.
The jury under Coroner Jennings found a
verdict that Mr. Ullman came to his death
by pistol shot from his own hand. In
his pockets were found an ounce bottle of
laudanum and an unsigned bond drawn
drawn up to protect large depositor,
who presumably had demanded his
money the day before.
The supposition is that President Ull-
man had been nearly crazed by financial
troubles and his inability to protect his
friends drove him to suicide His friend
ship for Mr.. Burbage and not being able
10 pay him the money he had promised
~Se'ciN mn W h IGdllIdblOll VI blt5 emu
that was near, and in a moment he de-
cided to kill himself. That he
contemplated this act seems proba-
bic from the fact that he carried
pistol and laudanm on his person. He
was an extremely peacable man and no
one ever knew him to carry pistol be-
fore.
During the day countless rumors were
atioat, but no one now doubts in the least
that all the other Brunswick banks are
perfectly solvent The Merchants and
Traders has been overwhelmed with Of
iers of assistance from banks all over the
country, but Cashier Lane wired back
That he had all the money he wanted and
there was no run.
HEAVY ovERDRAFTs.
a matter of much speculation in the
minds Of the people here is how the Ogie-
thorpe banks officers allowed so many
overdrafts to come in. From the state
ment made May 4, 80 given below,
and published officially on May Is, a
complete knowledge of the condition Of
The bank may be gained. Another matter
OF speculation is why the statement which
was sworn to on May 4 was held over
until May l6 for publication.
Hanlr fr,s