New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-20
,roiontown's Suspension
aid to Plot Against
Josiah Thompson.
prCEIVERS TAKE
HIS PROPERTY
NE Assets Placed at $4,000,
moo and Liabilities at
S22,000,000.
Is, Telegraph % m. rrit-in.l

.,-,,-tovn. Penn. Jan. Follow
.la suspension of the Uniontown
-" First National Bank. which
,,sr6av voluntarily closed is doors
l IL row in charge Of federal in
A.,.,rstors. Josiah Thompson is fac
az army OF angry creditors. He is
- ~ the slO0.OO0.000 Greene Coun-
C.sl Land Syndicate. one OF the
--sst '~dcrcrdent coal land owners
=, United states and president %
o., closed harS.
2. accented today voluntary le-
r.-shin IN the Psyette County
-.~-. turned over hts affairs 20 =
~,v4rate % receivers and started
Vev York. ostensibly % negotiate
"A, 70 save The bank.
p-,bably ten thousand persons are
tied By this financial upheayal,
...ss has upturned all Of Western
D,.-,vivaria and parts o. Ohio and
w.. VIRGINS. The Controller % the
C~--s-cv IN Washington admits that
-. sHsi-s q he bank have been un-
,,asf,c.orv since 1912, and there has
s..n virtually run on the Sank for
0,s o. Thompson's creditors. by his
-, admission. Is Republican state
Tsi-rsn William Crow, virtually po-
H.,-sl euler" % Fayette County. He
,.srowledced to-day that he had sold
.osI lands 20 Nr. Thompson and that
!. held the lstter's notes. He main
.,,-s tha. Thompson's affairs will be
..rL.e5 Thompson was an aspirant
az the Governorship nomination in
=. e common talk about town that
--iiors OF dollars have been with
s-swr from the bank by depos'tcrS IN
,ss last two wears. Il is said the With
5..vsl Of 100000 o. deposits since
1s.e-ber ST.. 1914. coming on top OF
-. v-i.l5rawal o. Sl4O0.00O in the
,,s,e6irc fourteen months. caused the
t-,s;s Scarcity OF money and inability
y, -ssli-c on The vast amount OF paper
-l;.b the bank is reputed 10 hold arc
,,,5 bv Thoupson'S many friends 20
s.rs caused The embarrassment OF the
.-,,,.-.fo- kewlSe. il IS said. Ikomp-
Inv las been forced INTO a corner ss
81, result O. sales Of coal lands 70
s,s-s,o~s dating back 70 1907. In the
ln o. equity fled to-day = IS set
oh that Thompson's assets are S'o'-
100000 and that his total Indebtedness
+, ss2.000.o0o. Of which 100000 IS
AL Of the crash, il is said. IS q
l,..is between Thompson, as the head
n an frdcDcr dent syndicate, and pow
,-f-' financial interests, IN wnlcn me
i...a- are said 20 have aimed at the
.rsr-brow Of Thompson and ms lleu-
.,-er+s by forcing the value OF their
.,.i and coke land holdings 20 such a
law level that they could be bought
i9r song. 49, -
..s Somiratirc head OF large cor
....,,or has been meteoric. Starting
~ sr Inheritance Of 100000, he IS
,,.rsiifed with having won SlUU'..
IN 00O fortune. The confidence or
.t,s. v--o have invested with HIM IS
.souo by the fact that the directors
NJ ,to First National Bank have vol
v,,ari, pledred their private funds
IN rehabilitation Of its affairs ana as
Guarantee 10 depositors that they
Wbiie the creditors petition declares
here is 100000 Of unsecured prop,
,-.v /. asserts that the balance OF
$4,000 600 : secured by mortgage or
rs3ge Of Substantially the entire. as
.s,. ~ Tho defendant. leaving nothing
In. soyi,ies out OF which unsecured
,re5itors can be paid and on which
they cannot realize.
Three large coal land deals, said 70
bs nsn6inr are Thompson's hope for
rrornt relief Closing any one OF
Zen according 70 report, will enable
l;-, 70 a., the bank on It's feet.
When me bank became memoer OF
,,s District Regional Reserve BANK II
I, ,sid - have had a surplus OF ST.
-wSo6 and that 100000 was distrio-