The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-24
+. AND NJ. BANK OF PARIS.
Run on 1t Forced the House to AS
sign.
DEPOsIToRs TO BE PAID IN FULL.
Assignee Says the Assets VIII he
Sufficient - The city National
stood n Run Easily.

Paris, Texas, March 23--This has been
black Friday" for this thriving city
and 1t has passed the scversst crisis in Its
history. For the first time bank has
closed Its doors and suspended payment.
The old Farmers and Merchants bank.
that has been the depository at one tine
or another o. all the business men Of PARIS,
that has pulled many OF them out OF the
hole and enabled them to continue bust
ness. filed a deed of assignment in the
county clerks office at 1910 this morning,
naming d. H. Scott as assignee.
When the failure of Martin, Wise &
Fitzbugh was announced yesterday some
OF the depositors In me Farmers and Mer-
chants bank. who knew that Mr.. Martin
was its president and that the bank was
heavily involved. began to draw out their
money. This morning the bank opened as
usual and the demands of depositors for
their money began. The directors had evil
IDENTIFY prepared for the contingency last
night, and at few minutes before 10
O'Clock the doors werd closed and the deed
VAS filed Immediately afterwards.
A small crowd gathered about the closed
door and peered through the plate glass
with the idle curiosity that tho human
race as whole exhibits on such occasions.
| A few of them were depositors. but most OF
| them had nothing II lose.
| The document filed transfers to d. II.
| Scott all of the property of the bank real,
| personal and mixed. of whatsoever nature.
| kind or description, consisting of real es-
| tate, money stocks and bonds. notes. ac-
| counts evidences OF Indebtedness, and, In
| fact, all property of whatsoever Kind OF
| description which the bank may own foI
| the following purposes.
| D. II. Scott shall take possession OF all
of the said property of said bank consist
| ing of real estate, money, stocks ana bonos
| notes accounts and evidences of debt ant
shall sell said real estate. stocks, houds
and other property for cash at public OF
| private sale as he may deem best and shal
| collCct all notes. accounts ana evidences
OF debt and shall out of the proceeds
such sales and collections and money OF
hand distribute all the property of sac
bank among all of its creditors in proper
ion to their respective claims
Judge Scott the assignee OF the Farmers
and Merchants bank authorizes the state
mont that all the depositors would b
paid in fun He will begin realizing o
securities as soon as possible ana IN
claims Will be paid In instalments II de
| sired.
The Martin. Wise & FitzhuGh debt
covered by real estate VI eaoi'S 49, Va
amount, but IT. Will take tine lesai uile
realize on this
The naid up capital stock Of the bank
5000 600 and surplus of S5Opoo MOI
runs up to $3.50 900, which would have !
L be a total loss before dopositor Won
A suffer. The bank was organizea III TO-
and was one of the few State banks SUI
in existence II had always pursued
l. liberal policy and It's officers and director
5 we're foremost in all and every public ei
h terprise. 1t is not known yet VIVA, !
liabilities are. but 1t Is understoon I'M
nearly all of the depositors had Withdraw
heir money. The stockholders ere nun
erous and all in good circumstances a.
: strong in the confidence OF the peop'e,
= effort will be made to put IL on ''s "fel
e better shape than ever ,,
As soon MS the Farmers and Merchant
II bank closed its doors the news new oN'
n ,be citA with the rapidty OF lightning al
}; ,boro was STAMPEDE to the City Na'ion
d md many people witnessed for the NJ
= time run on a bank great u,os
l. gathered on tho sidewalk ana III 'ho s'la
, T. in front of tho bank ana IL peua.,e ~. ,,,o
b sarv for the notice to clear passage W"
ror several hours a decidedly pani2Ky ieo
Ing prevniled and many momen'ari'E e
nocted tn soc IL close its doors, but ai'
limo Al was learned that the run w
= Soinp made by small dcpositors and IN
the hank would he able to wea,her
o storm that had gathered around ~ u.
- aN,,lai,s began TO come in as fast as 1t W
= u us;d out, The bank officials announc
y l naaa every %~' demand would be met and nd
$ , u,' remain open until p. m, thr
g h murr 1ater than usual. Money came fre
n mIm points and tonight the bank n
MANY Thousand dollars more on manu- u"
. it customarily carries-so ,iuvn ,r, '''o GUAR
r. ,ac, that IL has employed extra guar
'ae' addi,jonal protection 1t Is benev
a , I tho crisis has passed and that
u run Is at an end.