The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-11-04
THE BANKING FAILURE.
Many Rumors About Affairs ofyvcod
bury q Moulton-Mr. Woodbury.
Gives Up His House.

The assignment of the banking firm OF
Woodbury. s. Moulton, Of this city, CON-
tinued to be q topic Of interest yesterday.
but there were few developments in the
osss. Many rumors were flying about as
20 the large sums which certain people
were said 10 have had on deposit In the
bank. 10 was stated that one leading
physician. had $4,000 there, that another
physician had $4,000 there; that q GER
tain stabie-keeper had $500 there, and
that other people had sums ranging from
5000 down to 5000. OF course there
was a basis Of truth to most Of these
rumors. Many people deposited In the
bank, and Of course there were some
quite large deposits. But generally when
any particular story Of very large de-
pctit would he examined IL would be
found TO be much exaggerated. 1t Is
announced that money brought into the
bank en- the day OF the assignment was
not entered on the books and that the
sums were returned to the depositors.
A desd was recorded yesterday by
which MIR. Theodore G. Woodbury. cjnveys
to Messrs. Bradley and Verrill. the MS
sIanees, his State street residence, to be
used towards the payment Of the firms
debts. Mrs Woodbury. does not sign this
deed, indicating that she has not released
her inchoaJs right Of ownership of one
third of the property under the present
law affecting the rights Of married
women In the property of their husbands.
There vera no revenue stamps on the
deed.
At the Registry of D,sds there was
also recorded at the same time . trust
indenture from Woodbury. s. Moulton
to william NJ. Bradley and Harry n.
vsrrill, assignees of the firm. conveying
all of their property. real and personal,
the proceeds to be applied to the liquida-
ton of the firms debts. This indenture
was not signed by the wife OF either OF
the CO partners. The instrument bears
revenue stamps to the amounted Ss5.s6.
The impression does not at all dimin-
ish that the final. wind-up Of the affairs
will not leave much for the depositors
and other unsecured creditors, IL there
be any. Ths suggestion that ths divi-
been made; but that must Of course be
merely guess.
Statements made yesterday by persons
VINO would seem to have means of know
ing of what they speak. indicate that
the deposits may be larger than was ct
first supposed. 1t was stated that with
In a month the deposits of the firm ag-
gregated s57s, 0C0. and that their current
cash amounted to $4,000. This was
much smaller sum Of current cash than
the law would require a national or saw
ings bank to carry. The above estimate
of deposits seams W be large; but 1t Is to
De remem bersd that the firm paid per
cent on deposits, which is twice ~ much
as any other bank paid for the same kind
of deposits. This would naturally attract
money. IL was stated yes
tsrday that In the town OF Corn ish alone
there were people who had deposited an
aggregate of ten Thousand dollars. The
amount is quite likely exaggerated; but
the statement Indicates the extent of the
country that will be affected by the fail.
ure.
As TO what there will he of assets to
meet this large liability to depositors-if
it shall he found to be go targets a
problem. II all the securities owned by
the firm have Teen pledged for loans, as
some undoubtedly have been, IL may be
that there will be little or nothing for the
depositors.