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Bank in Difficulty. BOSTON, Jan. 7.-The saving S bank commissioners petitioned the Supreme Court today for the appointment of a receiver to wind up the affairs of the Millis, Mass.. Savings Bank. It is stated that the directors of the bank made two or three bad loans, thereby somewhat crippling the bank.
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Too Many Bad Loans. BOSTON, Mass., Jan. 14.-Judge Morton, in the superior court today appointed G. W. Miller receiver of the Millis, Mass., Savings bank. The application for a receiver was made last week on account of the bank having made several bad loans during the past half-year.
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Too Many Bad Loans. BOSTON, Mass., Jan. 14.-Judge Morton, in the superior court today appointed G. W. Miller receiver of the Millis, Mass., Savings bank. The application for a receiver was made last week on account of the bank having made several bad loans during the past half-year.
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MILLIS (MASS.) SAVINGS BANK. Boston, January 14.-Judge Morton, in the superior court today appointed G. W. Miller receiver of the Millis, Mass, Savings bank. The bank's embarrassment is due to bad loans.
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RECEIVER FOR A BANK. Boston, Jan. 14.-Judge Morton, in the superior court. today appointed J. W. Miller receiver of the Millis, Mass., Savings bank. The bank's embarrassment is due to bad loans.
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-General Francis C. Barlow, known lawyer, died in New York-Bill introduced in the Virginia legislature to restore the whipping post-Samuel Ruff killed by Henry Martin at Unionville, Conn-John P. Spaulding and John L. Bremer. two leading business men of Boston, are dead—Mrs. Frost got a verdict of $300 egainst Rev. J. D. Waldron at Saco, Me. Monday, Jan. 13. South Tamworth (N. H.) Methodist minister charged with having four wives -Great Britain seeking an understanding with Venezuela through new channels Germany not seeking to form coalition of European powersagainst England-Number of Armenians slain in Harpoot and Diarbekir provinces now placed at 15,845-Sixty members of the Uitlander reform committee now under arrest-Quarrel between Emperor William and Prince Frederick Leopold very bitter - English ship Janet Cowan wrecked on Vancouver island and the captain and six men pe ished-Coroner's jury in the shooting case of Charles F. Parker at Baltimore rendered verdict against Mrs. Angelier-President Eliot of Harvard charges Susan B. Anthony with misquoting him-The silver substitute for bond bill will pass the senate, it is expected, by half a dozen votes-Arrival in New York of Mine. Sarah Bernhardt and company from Havre— John A. Laudid of Everett, Mass., died from injuries sustained by being struck by a train--Judge Lyman Trumbull of Chicago may be the Populist candidate for president-Olteyville (R. 1.) mill operatives will demand abrogation of the fine system-Death of Nicholas Molter, the Providence brewer-Ric vein of gold discovered near Canton, Ga-Henry Blackman of the Church of the Advent, Boston, elevated to the priesthood-Horan P. Snow arrested in Boston on a charge of embezzlement - Secretary Pullman anticipates no trouble for the Red Cross in entering Turkish dominions -Lasker takes the lead in the St. Petersburg chess tournament-Samuel R. Ross committed suicide at Providence. Tuesday, Jan. 14. Turkey excludes the Red Cross from her domains-Boston school board of 1896 organized by the choice of Isaac F. Paul as president-Expert cracksmen arrested in New York on suspicion of being concerned in the Brentano safe robbery-Governor Morton, it is said, sure of solid support of New York delegates to the national convention-Europe surprised at American neutrality in the Transvaal affair-Sensational charges against the management of the Virginia penitentiary - Determined attempt to burn a Cambridge (Mass.) church—Six bolting ministers agreed to return to the Bowell cabinet on conditions - Insurgents raided a village 12 miles from HabanaMark Peterkin arrested in Boston for Canadian officers on the charge of arsonVirginia's anti-flirtation law will be repealed-Dishonest cashier caused suspension of a Columbus (O.) bank-Electric railways demoralized underground telephone wires near Pittsburg-Negro preacher sentenced to death for murder at Somerville, N. J-Premier Greenway will probably carry Manitoba on the school question-A fortune of $100,000, held in trust by Captain John Allen of Manchester-by-the-Sea, Mass., squandered in stock speculations— Report that the Queen of Korea is alive --Edison completes an separating roads trying to form a polling collector of customs reported to be a defaulterKaiser may challenge for the America's cup-Catholic missionaries trying to convert Protestants in New York— Cherokee Indians protest against the conclusions of the Dawes commission-Indications that the United States yet may construct the Nicaragua canal-Contest for the Democratic national convention lies between New York and Cincinnati— Bernard Murray, aged 54 years, was instantly killed at Lynn, Mass., while attempting to cross railroad tracks Twelve edgemakers at Luddy & Currier's shop, Lynn, Mass., struck, because the firm declined to accede to their de mands for an increase of 6 per cent in wages. Wednesday, Jan. 15. Death in Boston of Hon. Martin Brimmer-Refusal of Turkey to admit the Red Cross to Armenia clearly a violation of the Red Cross treaty compact-Republican senators dispute President Cleveland's version of the Monroe doctrine, and will enuneiate Senator Lodge's in its place-American sportsmen in Texas fired upon by Mexican soldiers-Nearly 200 persons in Pennsylvania injured by an oil tank explosion-Papers of an unknown ship washed ashore at Nantucket, Mass-Superior court approves decision refusing Mrs. Addicks a divorce-A mother. crazed by despondency, poisoned. her eight children and then hanged herself in Kansas-Death of Probate Judge William S. Shurtleff of Hampden (Mass.) county-British fleet not going to Turzey, but almost assured of going to Africa -English transport Victoria arrived with 1200 Indian troops at Cape Town Schooner Fortuna sunk in Massachusetts bay by steamer Barnstable. Nine lives lost Ex-Congressman Crapo believes legal tender notes should be redeemed and retired-George W. Wiggin appointed receiver of Millis (Mass. Savings bankGermany fears this country as a rival in the world's markets--Growing favorable prospects of the triumph of the popular loan-General Foraker nominated for senator by Republicans of Ohio-Harold C. Rice gave Boston officers who wanted him a lively chase. Charge of pass-
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less than the amount withdrawn in the year before. Under the head of "Legislation Required," the report says: "Attention is called to the fact that, while heretofore a limited amount of securities, taken to secure indebtedness, has been held by the banks, there is no provision of statute which authorizes the holding of any property (except real estate) so taken, nor is there any provision regarding its sale. It seems desirable, therefore, in view of the considerable amount of stocks, bonds, etc., held at present, that some legislation be adopted which shall authorize the holding and regulate the selling of securities SO taken. "It has been claimed in the case of one railroad company that the payment of an annual dividend of one per cent for two years would make the first mortgage bonds of that company a legal investment for our savings banks; and a strict interpretation of the law might warrant such a claim. It 19 the opinion of this board that, generally speaking, when a railroad company is unable to pay more than one per cent per annum in dividends, its bonds, even though they be secured by a mortgage on all its property, can hardly be considered as coming within the class of securities in which the law intended that the deposits of savings banks should be invested. We desire to renew the suggestion made in our last report. that a law be enacted prohibiting any bank hereafter incorporated from occupying rooms in common with another bank or trust company. "In accordance with the provisions of section 45 of chapter 317, acts of 1894, returns have been made giving a list of all deposit accounts on which no deposits or withdrawals have been made within the past twenty years; th ase returns will be embodied in a supplementary report, to be submitted in a few days." Speaking of banks in the hands of receivers, the commission says that dividends amounting to 75 per cent of the deposits have been declared in the case of the Stockbridge Savings Bank, and that a final dividend will soon be made; and that a final dividend will soon be paid in the case of the Millis Savings Bank. Little progress is reported in settling the affairs of the Suffolk Trust Company, which is in the hands of the court. The commissioners say: "We think the an opportune time in which to with added emphasis, in previous the investing banks the necessity several present expressed repeat, urge upon reports, boards of the would extreme and of views the to in making loans; we escall attention to the property at a loaning pecially caution upon danger distance of from the bank, as conditions affecting or the borrower, or afterwards arise, known in the locality ist, readily the property, which, where may coming while the exis situated, are slow in of parties at a a state of affairs was to tance. property the Such knowledge thereabouts), found when disto exist in 1876 (or of the banks located outside of some Boston had made loans on property in that city, some being on unimproved land, having an inflated value, and in others on estates which depreciated value rapidly in consequence of changes in the character of the occupants." This part of the report deals only with 187 savings banks and institutions for savings, with assets of $503,973,934; thirty-four trust companies, with assets of $134,294,237.10; two trust companies in hands of the courts, and four savings banks in hands of the courts. The second part, dealing with co-operative banks and loan companies, will be issued later.