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An Expected Failure. WILMINGTON, N. C., Nov. 27.-The Clinton Loan association at Clinton, Simpson connty, has suspended. It was a small state banking company with a capital of $50,000 and has been known to be in a shaky condition for some months.
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TELEGRAPHIC BREVITIES. The grand jury in New York has indicted Chace, the alleged oplum smuggler. At Lehigh, I. T., yesterday, two unknown men fired into the house of Peter Fleanteau and killed his wife. A Mormon elder by the name of Taylor Is converting the people of Millie, Mich, by the EDORE. An exedus of the population is in progress. A man bss been arreated in B town not far from the scane of the recent Western Union Junction train robbery, and charged with the crime. The Clinton Loan Association at Olinton, N. C., bas suspended. It was a small State banking company, with a capital of fifty thousand dollars. The formation of & tonnage pool, to include all freight between Chicago and the Atlantic seaboard, has been favorably considered by the trunk lines. Mrs. Anthony J. Drezel, wife of the head of the great banking house of Drexel & Co., died this morning at her country house, Bunnymode, Delaware county, Pa. In a glove fight to a finish at Birmingham, Ala., last night, Eugene McElroy, of Birmingham, knocked out Frank Fitzwilliams, of Cincinnati, in the third round. In a Chicago saloon row last night Robert W. Tasker, a laborer, was shot and instant!y killed by I. W. Simon, a son of the proprietor. Young Simon claims that he fired the fatal shot to save his father's life, as Tasker waschoking him. The firm of Field, Lindley, Wiechers & Co., bankers and brokers of New York, RSsigned to-day. The head of the firm is a son of Cyrus W. Field. Assignee Gould, when seen at the firm's office this afternoon, said: "The assignment was made for this reason: Elward M. Field, the senior mem. ber of the firm, has apparently gone dis. tracted."
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The Clinton Loan association, at Clinton. N. C., has suspended. It was a small state banking company with a capital of $50,000, and has been known to be in a shaky condition for some months. As it is, the failure has no connection with the suspension of the First National bank of that state.
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Loan Association Failure. WILMINGTON (N. C.), Nov. 27.-The Clinton Loan Association at Clinton, Sampson County, has suspended. It was a small State banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National Bank of this city.
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Other Business Troubles. CHICAGO, Nov. 27.-A bill was filed in the circuit court today by M. Lamb and Sarah A., Edith and Virginia Copeland, of Washington City, asking the appointment of a receiver for the American Mining and Smelting Company. an Illinois corporation owning three silver mines in Colorado, on which it has expended nearly $500,000. Complainants assert that in October, 1889, they owned $321,000 of stock, and that by fraudulent manipulations Daniel P. Hells and C. A. Otis have deprived them of their rights. WILMINGTON, N. C., Nov. 27.-The Clinton Loan Association, at Clinton, Simpson county, has suspended. It was 8 small state banking company. with a capital of $50,000, and has been known to be in n shaky condition for some months. Its failure has no connection with the suspension of the First National bank of this city.
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A Loan Association Suspends. WILMINGTON, N. C., Nov. 27.-The Clinton Loan association, at Clinton, Samson county, has suspended. It was a small state banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National bank of this city.
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Loan Association Fails. WILMINGTON. N. C., Nov. 27.-The Clinton loan association at Clinton, Sampson county, has suspended. It was a small state banking company, with a capital of $750,000, and has been known to be in a shaky condition for months. Its failure has no connection with the sussion of the First national bank of this city.
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Clinton Loan Association Suspends. WILMINGTON, N C., Nov. 27.-The Clinton Loan association at Clinton, Sampson county, has suspended. It was a small state banking company with a capital of $50,000, and has been known to be in a shaky condition for somemonths. Its failure has no connection whatever with the suspension of the First National bank of this city.
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A Loan Association's Collapse. WILMINGTON, N. C., Nov. 27.-The Clinton Loan Association at Clinton, Sampson county, has suspended. It was a small state banking company, with a capital of $50,000, and has been known to be in a shaky condition for some months. Its failure has no connection whatever with the suspension of the First National Bank of this city,
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# The Bank and the Outlook. As our readers know the Clinton Loan Association, when closed by orders of the State Treasurer, was given until Dec. 22nd to try to put the affairs of the bank in shape to continue business. The bank was given to understand that about $40,000 would have to be raised, or a receiver would be appointed to take charge of the bank and wind up its business. The stockholders have held several meetings discussing the situation and subscribed about $17,000 of new stock among themselves. They then called several citizens meetings in the court house and appealed to the business men of Clinton to subscribe the remainder of the stock. The President of the bank in his speech set forth what a great calamity it would be to the county if a receiver were appointed. That a receiver would proceed to collect at once what was due tho bank and that the result would be that many citizens who are largely involved would be ruined and that the great majority of the county would feel the bad effects either directly or indirectly. About $7,000 additional stock was subscribed, making about $24,000 in all subscribed up to date. The time given for putting the bank on its feet again expires next Tuesday. THE CAUCASIAN interviewed Rev. Mr. Stewart the President yesterday afternoon as to the prospects. He said that the outlook was gloomy and that he had but little hopes of raising the stock. He said that if he failed that he would go to Raleigh next Tuesday to look after the appointment of a receiver for the bank. This whole bank affair is certainly very unfortunate, in fact a calamity from every point of view. But at the result of this effort be what it may one thing is certain and must be preset to every business man that Sampson must have banking facilites.
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THE BANK RECEIVER HERE. Commenced Work at Once---A Difficult Work--A Good Man in Charge. Mr. W.A. Dunn of Scotland Neck arrived Monday night. As before stated Mr. Dunn was appointed by Judge Whitaker receiver to wind up the affair of the Old Clinton Joan Association (joint stock company) and the new bank, known as Olinton Loan Association, which were decided as insolvent before the Superior court in Wake county, on Dec. 22nd. THE CAUCASIAN has given every possible item of information about our bank tr: uble, and has used every diligent mean in informing its readers of its affairs, and shall continue to do so. We called on Mr. Dunn and found him hard at work in the old bank office. Of course he could givo no intelligent statements in so short a time but we found him very willing to make any statements he thought would be of any interest or information to the people. He seems very much in earnest and will begin work at once and use every possible means to make a prompt and just statement. And we feel safe in predicting a very satisfactory settling up of the bank, and we think it very fortunate for all concerned that Mr. Dunn accepted the receivership. HIS DUTIES. It may be of some information to give some of the duties of the receiver and how payments are made. A receiver of a bank is like an administrator of an estate He collect all claims and disposes of its property and then report to the court how much he has on hand, and then by order of the court pay it out e pro rata. It is not necessary to get S judgment to hasten payment, for one S claims can not be paid before another, S but equal payment to all. It is Mr. Dunn's duty to collect all 11 claims, notes &c., held by the bank. We believe he will deal as liberally as possible with all, but they have to be collected. Now let all realize this and try and pass this trouble off as lightly and e quietly as possible.
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BANK STOCKHOLDERS HOLD A MEETING Trying to Stop Lawsuits and Settle the Tronble. The stockholders of the Clinton Loan Association held a meeting in Olinton Tuesday. A majority of the stock was present or represented. A resolution was passed to the ffect that each stockholder should guarantee to become responsible for the indebtedness of the bank to the amount of the stock held by each in addition to the stock held This will probably guarantee an amount sufficient to cover all indebtedness we are told. If this is so, it will make all lawsuits started unnecessary and put the business in such a shape that receiver Dunn can proceed to wind up the business satisfactorily. A committee composed of Mess's. H. E Faison, T. M. Lee, Abram Hobbs and J. L Stewart, was appointed to see stockholders not present and urge them to agree to the same policy. This committee will a'so represent the s'ockholders in an executive capacity till the next meeting of the stockholders, which will be on July 7th. A committee was also appointed to wait on Mr. A. F. Johnson and to offer a compromise settlement with him of the amount that it has been claimed that he owed. The stockholders have shown a proper spirit. Now would it not be well for the depositors to meet them part of the way with some equitable compromise? We think if the stockholders and depositors can have an understanding this whole very troublesome and complicated matter might soon be settled without long delay and heavy cost in lawsuits.