The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1897-05-01

patches
The Baltimore Evening World on Monday
says: An extensive New Hampshire cotton
mill HIS given notice Of a reduction of wages.
Three mills at New Bedford, Mass, with a
combined capital of 100000, are on the
verge Of bankruptcy and unable to meet paper
nearly due to the amount of 5000, 900. Wages
of nuddlers at the iron mills at McKeesport,
Pa, were reduced few days ago. A strike
OF all the wofkmen in builders trades, Chica-
go, is expected to be declare May /, and yet
some people claim that wave of prosperity
is sweeping over the country.
Sehaar, Koch & Co., private bankers. Chi
cago, Illinois, are in the hands Of receiver.
Baker J. Lamar, Of Urbana, Nd, has APP
pointed trustee.
Burruss, Son & Co., the Oldest banking
house Of Norfolk, Virginia, has failed. The
business was established in 1864. The pros
porous (?) condition of business generally
precluded collections and they were forced to
the wall.
Harry A. Cassin, cashier of the Georgia
Savings Bank and Lean Banking Company,
of Atlanta, Georgia, has been arrested. He had
confessed defalcations to the extent Of S45,
600, which his friends agreed to make good,
but the officers of the concern discovered that
the shortage viii be several times the sum
named. A receiver has been appointed for
the United States Bond Company, of which
CasSin was also cashier.
A receiver has been appointed for the
Superior Consolidated Land Company, of
Wisconsin, upon application of the estate of
Thomas Scott of Philadelphia. The secured
Indebtedness of the company aggregates $780,
600.
The Lumber Exchange Bank, of North
Tonawanda, N. Y, has suspended business.
It's deposit funds are being transferred to the
State Bank. The bank is perfectly sound,
but ii has not been making money, and has
decided 10 liquidate.
Thomas Holloway, of Worcester county,
Nd, has been declared inselvent; liabilities
900.
CHICAGO, April 28-"It is disgrace and the
Penitentiary or the lake, and | have chosen
the latter, wrote John Sheldon, the leading
banker Of Sheldon, H., to his confidential
friend and attorney, j. Ii. Moffet. The re-
ceipt of the letter in Paxton, ILL.,, where Moi
fet lives, was followed by the closing of the
leading bank of Loda, the assignment of -four
of the leading business firms and individual
assignments by as many of the leading cltl-
zens of the town. In addition, it is said,
Banker Sheldon's financial troubles involve
the funds belonging to the school trustees of
Loda township and that trust estates involving
between $500, 900 and $3.50, 900 went down in
the general crash. The financial wreck which
brought Sheldon to this end was preclpltated
apparently by the demand of the heirs of the
Sheldon estate in Chicago for $50, 900 realized
a year ago from the sale of North Chicago
Street Railway and Diamond Match stock.
Ill 70 tba araanH
him. came to Chicago and wrote a 20 page
letter to his confidential friend, advising him
that he would take his life by jumping into
Lake Michigan, and indicating as the best
line of procedure closing up his own involved
estate Carried down with Sheldon are
number of Loda business firms, including the
Slocum & Bradley Company, a hardware and
lumber firm; Gray Il Swanson, dry goods and
groceries; Nels Peterson, furniture and farm
implements: W. L. Kinsman, grain dealer,
and number of individuals, including John
Peterson, E. E. Slocum, Fannie S. Bradley
and several others. These people were all on
bonds for Sheldon. the amount of which, it is
said, is between 100000 and 5000, 900 IN
trustees guardian estates.
Liberty Cycle Company of Bridgeport,
Conn, has assigned.
The Savings Bank Of Phoenix, R. l., has
suspended; liabilities of SAT-, 698; assets non1i-
nal.
f. A. Phillips, Jr., the Consolidated Stock
and Petroleum Exchange broker New York,
has failed.
State Bank Examiner Breidenthdl has taken
charge Of the Bank of Hutchinson, Kan,
private concern. The bank was areorganiza-
ton of the Valley State Bank, which closed a
year ago, but has not been able to regain pres
tge.
At Dayton, Ohio, the Central Union Tee-
phone Company has filed mortgage to the
Illinois Trust and Savings Bank for So, 600, 000
w. J. Dunn, carpenter and builder, Pitts
burg, Pa, has failed for $4,000.