The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-09-02
ISLAND CITY NEWS ITEMS
The Liquidation Of Weekes, Mccarthy &
Co. Was Not Unexpected.
AN AGED MAN KILLED BY THE CARS.
Congressman Unwlcy Has Bought II
Cuban Sugar PIantation-Foot-
ball Gume to Be Played.

| Galveston, Texas, September 1.-The
banking house of Weekes. Mccarthy a.
Co. has gone into liquidation. Today the
depositors are being paid in full at thu
bank of Adoue & Lobit. a. II. (Shanghai]
| Pierce shoulders all the obligations of the
bank and has put UP all the money neces'
sary to pay dollar for dollar for every
thing the bank owes. AS au-offset to this
all the assets of the bank have been turned
over to him.
The notice of closing the bank. pub
lished this morning, merely stated that
"the partnership OF Weckes. Mccarthy &
Co. is this day dissolved by mutual Con-
sent and its business closed All Deposit
ors, including the city OF Galveston, VIII
be paid on demand by the firm OF AloGe
& Lobit. and interest on all interest beai =
ing deposits cease this day. Adoue a. Lo-
bit hold for collection the bills receivable
of Weekes. Mccarthy & Co All property
and assets of said Weekes, Mccarthy 6.
Co. have been conveyed to A. II. Pierce
authority to sign the firm name in liquida-
ton"
There was not the least excitement this
morning owing to the firm going out or
business. Teller VIII Skinner and Dvok-
keeper Selltirk simply moved the books OF
Weekes, Mccarthy a. Co. TO the bank Of
Adoue &c Lobit and promptly at o'clock
this morning they were ready TO pay IF
all the depostors and those who had ac-
counts against Weekes, Mccarthy d Co.
The funds of the city of Galveston held by
MIR. Mccarthy were turned over TO Adoue
& Lobit.
At no time were there more than dozen
persons In the waiting line 10 be paid off
by Mr.. Skinner. No one who didn't kEow
the facts would from tho appearance OF
things, have the slightest idea that tho
affairs OF big banking house were then
being wound UP and that the notice " the
dissolution OF the firm had only been mace
public half a dozen hours before. 3y noon
there were only few persons waiting in
line for their money
MIR. Mccarthy denied himself to report
ers, and Captain Weekes could not be
found. No statement as TO the reason OF
the dissolution has been made, but IL Is
understood that the fight against Mr.. Nc
Carthy for city treasurer is ore OF the
frfTCTraf 'GtaTfsuv. 'srvrrat fiarg--aefs4 A,Es-
are said to have Withdrawn their accounts
The connection OF the firm with the Culf
and Interstate railway is also sald to have
been unfortunate
The firm OF Weekes. Mccarthy & Co.
Will be missed. and missed sadly. by a
large class OF people OF small means. who
have been accommodated by the firm with
small loans which are unattractlge to
banks in general but often a Godsend TO
man who needed few dollars. Ed Nc
Carthy has always held that the man who
needed $40 wanted It Just as badly as the
man who needed $4,000. II was this view
which made him popular with the masses,
among whom he has done untold good,
and ii is this class OF small borrowers who
will miss most the bank which has now
gone out OF existence.
IL has been known In Galveston for a
month or two that the bank would probably
go out OF business. hence while the friends
of the concern regret its course, IL Sas no
surprise.
What effect the dissolution will have on
the contest for city treasurer remains to be
seen. Mr.. Mccarthy could not DO seen as
to whether or not he would continue to
aspire to the office. While not unexpected.
now that the bank Is closed. the politicians
who have practically driven II out OF opsi-
ness have not caught their breath enough
to say what they intend TO do next.