311601121 31160
national
011d100b995a632cCapital injected, Full suspension, Books examined
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Suicided-Two Banks Busted. NEW ORLEANS, May 18.-The southern afternoon press special from Savannah says that Max Ullman, a prominent merchant and banker of Brunswick, Georgia, committed suicide there this morning. The Oglesthorpe Nathional bank, and First National bank, both of Brunswick, suspended today. Great excitement is said to prevail there, but no further details have been obtained as yet.
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COMMITTED SUICIDE. The Way & Georgia Bank President Répaid a Loan. BRUNSWICK (Ga.), May 18.-M. Ullman, President of the Ogelthorpe National Bank, committed suicide in a toilet-room this morning. Beside being President of the Ogelthorpe Bank, he was President of the Brunswick Brewing and Ice Company and a line of river steamers, and was a large stockholder in various enterprises. President Burthage of the First National Bank requested Ullman to repay a loan made the day before. "All right, wait a moment," said Ullman, stepping into the toilet-room. A moment later Burthage heard a report. Ullman was found sitting upright with a bullet hole in the center of his forehead. The news spread rapidly and depositors started a run, and in a few minutes the Oglethorpe National Bank closed its doors, followed immediately by the First National Bank. A slight run was commenced on the Brunswick State Bank, but it met all demands. Mayer & Ullman, wholesale grocers, closed temporarily. The Brunswick Brewery and Brunswick Cotton Factory will also close temporarily. The Oglethorpe Bank was capitalized at $150,000, and the First National at $200,000. The officers of both banks say the claims will be paid in full.
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National Banks Suspend. NEW ORLEANS, May 19.-The Oglethorpe National bank and the Brunswick National bank, both of Brunswick, Ga., suspended just after Max Ullin, one of the leading merchants and bankers of that city, had committed suicide. What connection his death has with the suspensions is not yet known, but dispatches say there is great excitement in Brunswick.
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PREFERRED DEATH TO POVERTY. Bank President Ullman Suicides-Several Suspensions Result. BRUNSWICK, GA., May 18.-M. UIIman, president of the Oglethorpe National Bank, committed suicide in the toiletroom of the bank this morning. Up to this time he was considered one of the wealthiest men in this section. Besides being president of the Oglethrope Bank he was president of the Brunswick Brewing and Ice Company, and a line of river steamers, and was a larger stockholder in various enterprises. President /Burbage, of the First National Bank, called at the Oglethorpe Bank shortly after opening and requested Ullman to repay a loan made the day before. "All right, wait a moment," said Ullman, stepping into the toilet-room. A moment later Burbage heard a report. Ullman was found sitting upright with a bullet hole in the centre of his forehead. In his pockets were found an ounce bottle of laudanum, and an unsigned bond drawn to protect a large depositor who had demanded his money the day before. The supposition is that Ullman had been crazed by financial troubles, and that his inability to protect his friends drove him to suicide. The news spread rapidly, and depositors started a run. In a few minutes the Oglethorpe National closed its doors, followed almost immediately by the First National. A slight run commenced on the Brunswick State Bank, but it met all demands. Mayor & Ullman, wholesale grocers, have closed temporarily. The firm is composed of Sam Mayer and M. Ullman. The Brunswick Brewery and the Brunswick Cotton Factory will also close temporarily. Rumors affecting the two banks had been in circulation for several days. These became public after the tragedy, causing the runs. The Oglethorpe was capitalized at $150,000, and the First National Bank at $200,000. The officers of both banks say that claims will be paid in full. Bank examiners have been wired for, and pending their arrival nothing definite will be known. Business will not suffer to any great extent. WASHINGTON, D. C., May 18.-Comptroller Eckels this afternoon ordered Bank Examiner John Carskedan, of West Virginia, to Brunswick to take charge of the First National Bank and the Oglethorpe National Bank of Brunswick, both of which closed their doors this morning. The First National Bank had capital of $200,000 and the Oglethorpe Bank of $150,000. The resources of the banks on May 4th, as reported, were for the former $492,000, and for the latter $682,000. Illinois Bank Failure, EVANSTON, ILL., May 18.-The Evanston National Bank, of this city, closed its doors this morning, at the suggestion of National Bank Examiner George B. Caldwell. The bank formerly did business with the Chemical National Bank, of Chicago, but after the failure of that institution transferred its accounts to the Metropolitan National Bank, of Chicago. Nebraska Bank In Trouble. LINCOLN, NEB., May 18.-The Nebraska Savings Bank is in trouble: For several days there has been a quiet run on the institution, which to-day assumed extensive proportions. The clearing house, was called on for assistance and responded promptly, and the bank is confident it will weather the storm. The bank has a capital of $250,000 and the deposits amount to $150,000.
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A Banker Commits Suicide. UllBRUNSWICK, Ga., May 19.-M. man committed suicide Thursday. He was president of the Oglethorpe national bank, Brunswick brewery, Cumberland Route steamers, half owner of Mayer & Ullman's immense wholesale grocery, and until Thursday was considered one of the wealthiest men in this section. His suicide was followed by the immediate suspension of the Oglethorpe and first national banks
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BANKER COMMITS SUICIDE. President Ullman, Unable to Weather the Storm, Shoots Himself. BRUNSWICK, Ga., May 18.-M. Ullman, president of the Oglethorpe national bank, committed suicide in the toilet room of the bank this morning. He was considered one of the wealthiest men in this section. Besides being president of the Oglethorpe bank he was president of the Brunswick brewing and ice company, and line of river steamers, and was & large stockholder in various enterprises. President Burlbadge of the First national bank called at the Oglethorpe bank shortly after opening and requested Ullman to repay a loan made the day before. "All right, wait 8 minute," said Ullman, stopping into the toilet room. A moment later Burlbadge heard a report. Ullman was found sitting upright with a bullet hole in the center of his forehead. In his pockets were found an ounce bottle of Jaudanum and an unsigned bond drawn to protect a large depositor who had demanded his money the day before. The supposition is that Ullman had become crazed by financial troubles, and his inability to protect his friends drove him to suicide. The news spread rapidly and depositors started a run. In a few minutes the Oglethorpe na= tional bank closed its doors, immediately followed by the First D& tional. A slight run commenced on the Brunswick state bank but it met all demands. Mayer & Ullman, wholesale grocers, have closed temporarily. The firm is composed of Samuel Mayer and M. Ullman. The Brunswick brewery and the Brunswick cotton factory will also close temporarily. Rumors affecting the two banks had been in circulation for several days. These became public after the tragedy, causing the runs. The Oglethorpe was cap* italized at $160.000 and the First national at $200,000. The officers of both banks say that claims will be paid in full.
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THE Oglethorpe National and the First National Bank, of Brunswick, Ga., suspended last Thursday, being short in money. President Max Ullman, of the Oglethorpe National Bank, suicided by shooting himself There is great excitement in Brunswick.
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Banker Suicides. SAVANNAH, Ga., May 19.-Max Ullman, a prominent merchant and banker of Brunswick, Ga., committed suicide here yesterday morning. The Oglethorpe national bank and the First national bank, both of Brunswick, suspended yesterday, and great excitement is said to prevail there, but no further details have been obtained yet.
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DEPOSITORS SAFE. The Oglethorpe and First National Will Pay All in Full. Brunswick, Ga., May 26.-It is now considered certain that the Oglethorpe Bank will not resume business, but it is equally certain that no depositor in either bank will lose a cent. While it is not believed that the stockholders in the Oglethorpe Bank will realize anything on their stock they will hardly be assessed, as much of the paper the bank holds can be collected. The First National Bank will probably be reorganized on a $150,000 basis, just onehalf of the former capital stock. Col. W. L. Kay, one of the best business lawyers in the state, is vice president of the First National and is working hard to place it on its feet again. A meeting of the depositors will no doubt be held soon and a proposition made to them to take good negotiable paper for their claims, payable on different dates and to resume their business with the bank. As the largest depositors are liberal-minded business men working for the good of Brunswick, they will probably help Col. Kay in his efforts. It is evident here now that it will be to the interest of the depositors to arrange some way for the bank to resume, even if only for the purpose of gradual liquidation, for the forced methods of a receivership would prove not only disastrous to the people who owe, but to the depositors as well. The stockholders and creditors of the First National will no doubt turn over the management of the bank to the creditors and depositors if they will come together to reopen the doors, and in a short time it is thought this plan will be laid before the people. The building and loan associations are helping Brunswick a great deal by lending money to their stockholders, many of whom are building, and this money distributed through the different channels of trade is relieving the pressure to some extent. None of the agencies represented have shut down on the people and their action is appreciated. Some of the merchants have quit crediting and are bringing their business down to a strictly cash basis, but this action on their part is a move many would have profited by if it had been started long ago. R. R. Hobbs of Albany, Goodyear & Kay, attorneys for Morris Mayer and Anson Tucker of Albany and the East Tennessee railway, filed a petition for an injunction to-day to restrain the insurance company from paying Mrs. Max Ullman $64,000 on her husband's life, and endeavoring to subject this fund to the payment of debts of Mayer & Ullman, and Samuel Mayer, Crovatt and Whitfield represent Mrs. Ullman. Rumors effecting the solvency of Kaiser Bros., wholesale dry goods merchants, are untrue. Kaiser Bros. state their ability to pay $2 for every $1 they owe, and their indebtedness is very small, if any. They are reported favorably upon by the banks.
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Receiver Appointed. The controller of the currency today appointed Mr. Thomas S. Jordan receiver of the First National Bank of Brunswick, Ga., which suspended May 18, 1893.
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Appointed Receiver. By Southern Associated Press. WASHINGTON, D. C., June 17 i Comptroller Eckels has appointed John S. Thomas Receiver of the First National Bank of Brunswick, Ga., suspended May 18 last.
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Brunswick's First National. Washington, June 17.-Controller Eckles has appointed John S. Thomas receiver of the First National Bank of Brunswick, Ga., which suspended on May 18, last.
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IT WILL PROBABLY REOPEN. The Controller is Looking With Favor On Bruswick's Bank. There is little doubt now that the First National Bank of Brunswick will be reopened within a few days, and as it seems under very auspicious circumstances. Controller Eckels has looked with favor on that bank. and although he !appointed a receiver some time ago, he has never levied any assessment on thestockholders. This has not been done on account of the fact that he has been considering a proposition from the stockholders to take up the bank assets and liabilities and reorganize the institution. Pending the consideration of the proposition no assessment has been levied, and it was learned here yesterday that the controller had agreed to the proposition and that it will go into effect shortly. Not only this but there is another plan in the proposition by which one of the two solvent banking institutions left in Brunswick is to be amalgamated with the First National and one good solid banking institution formed, under the name of the First National Bank. Upon the creditors relieving the bank of this liability, the controller will turn the bank over to the stockhoiders and they will probably amalgamate it with one of the other banks and assume the liabilities and assets. There is little doubt but what this plan will be pursued, and thus the stockholders will be given an opportunity of realizing all possible from the assets of the bank. This is what the stockholders of the Oglethorpe National bank wanted or rather they made a similar proposition to the controller, but it was given little consideration. The stockholders of the Oglethrope National Bank are now looking into the assets of that institution with a view to reopening or winding up the bank's affairs. If they decide to reopen the bank, a similar proposition may be made to the controller.
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BRUNSWICK'S FIRST NATIONAL. The Success of the Plan for Reopening the Bank Probable. Brunswick, Ga, Aug. 8.-When seen to-day Col. Kay stated that had nothing to say about the affairs of the First National bank except that the outlook for reopening the bank was encouraging. From parties who claim to know it is learned that all the plans are being carried out and that only a few necessary but trivial matters remain to be attended to before everything can be closed up. The consummation of these plans and the work that has already been done places the people of Brunswick in a position to realize the earnestness of the efforts made by Col. Kay to relieve this community of the disasters which were occasioned by failure of the bankers. When the financial panic commenced Col. Kay was president of the Brunswick Savings and Trust Co., and vice-president of the First National Bank. Being partly aware of the existing state of affairs before the banks closed, he tried to save them. When he approached the president of the Oglethorpe Bank he was assured that $5,000.00 would save him. Col. Kay then placed his own personal property as security and with the co-operation of Col. John E. duBigmon secured the required amount, placed it in the President's hands and thinking the banks safe, left that night for New York on other matters of business. While in New York he learned the news of the bank troubles and returned at once to Brunswick. He at once began straightening out the affairs and to have more time resigned the savings and trust company's presidency against the combined protests of the directors and stockholders. When they finally accepted it, Col. Kay was tendered a banquet, and the severing of his connection was made as pleasant as possible. After this he twice visited Washington to see the controller on his reorganization plan, and finally by determined and persistent efforts, fair propositions, solid facts, and a good showing he succeeded in securing such recognition from the controller as had not before been shown to other banks. His success means the early distribution of over $400,000 in Brunswick, and the people will not soon forget it. Col. Kay modestly declines to discuss his actions in the matter, but the facts are familiar to some.
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A BANK TO BE PUT ON ITS FEET. The First National of Brunswick to Start Under a New Head. Brunswick, Ga., Jan. 30. -For sometime past negotiations have been going on with a view to reorganizing the First National Bank ofo Brunswick, which closed its doors about a year ago. The MORNING NEWS correspondent has it from what is considered a reliable source that an agreement has been reached between H. W. Reed, of Waycross, representing foreign capital, and the creditors of the First National, whereby Mr. Reed will assume the liabilities of the bank and pay them dollar for dollar. The same authority in speaking to the MORNING NEWS correspondent stated that the large surplus which would undoubtedly accrue to the shareholders of the First National would be used to increase the capital of the new bank, which will be known as the Brunswick National Bank. All the arrangements have been perfected for the new bank to open on March 1, and while every creditor of the First National has felt certain of the payment of their claims, this arrangement insures full payment at an earlier date than could be had through a receiver, and is gratifying to all concerned. Col. W. E. Kay and W. E. Burbage, prominent members of the reorganization committee, will join Mr. Reed in Washington this week to arrange with the controller for the change.
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BRUNSWICK'S FIRST NATIONAL The Bank to Resume Business Under a Reorganization on March 1. Brunswick, Ga., Feb. 13.-Col. W. E. Key returned to-day from Washington, where he has been in consultation with Controller of the Currency Eckels with a view to reorganizing the First National Bank. While unable to secure an interview with Col. Key, owing to his rush of business, the MORNING NEWS correspondent understands that the plans of reorganization submitted were favorably received by Controller Eckels, who consented to detail a special expert to visit Brunswick and assist the bank's officersin transferring the bank's papers, now in Receiver Thomas' hand's, to the new officials. The plans of the transfer having met with a favorable reception by the controller, the new bank, with $150,000 capital, will be open by March 1. The effect of this will be very beneficial, not only to the shareholders and depositors, but to the general public as well.
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BRUNSWICK IMPROVING. The Business Outlook Steadily Growing Better. Brunswick, Ga.. Feb. 15.-Brunswick's business is steadily improving. The Gress Lumber Company, of Atlanta, has opened a branch office here for the purpose of exporting lumber, both foreign and coastwise. Brunswick is losing no business, but instead, the list of firms here is being slowly but surely added to. The Kennon cotton factory will begin work within thirty days, President Kennon being now hard at work completing preparations for resumption. Cook's, Anderson's, Brown & Garber's and Holman & McArthur's lumber mills are running regularly; all of St. Simon's mills are in operation, and despite the recent depression. no unemployed laborers are standing around the street corners. When the sewerage work commences there will be ample labor for any men now idle in Brunswick. The banks are prosperous. Cashier Lane, of the Merchants' and Traders', reports a larger deposit list and an easier feeling in money matters among the business men. Col. W. E. Kay's plans for reorganizing the First National into a new bank with $150,000 fresh capital have materialized, and this amount, together with a similar sum from the sewerage contractors will be in the city soon. One oyster factory has resumed and another canning factory will resume work in thirty days from now, canning fruits and vegetables. The Altamaha Cypress and Lumber mills are now running full time with sixty-five men, and there is not an idle machine shop, foundry or blacksmith shop in Brunswiek. Several of the firms closed by the bank failures last year have resumed business, and all are arranging to pay their indebtedness promptly. The 'longshoremen and Knights of Labor, who recently struck for higher wages, have returned to work, and happiness and contentment seemingly have the upper hand of affairs. Brunswickians are plucky. They have had almost insurmountable set-backs, but they soon scatter misfortunes and dive deeper into the future and endeavor to pull themselves and their cherished city back to its proper* place in the business world.
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Permitting Banks to Resume. WASHINGTON, March 17.-Comptroller Eckels to-day granted permission to the Brunswick National Bank, Brunswick, Ga., to open for business Monday next. This bank will liquidate business of the old National Bank in Brunswick that failed last year. He has also decided to permit the First National Bank of Orlando, Fla., to reopen for business sixty days from date, provided the bank complies with certain conditions imposed by the Comptroller. These conditions include new management, payment of certain percentage of its old obligations, etc. The bank failed last summer, and has been in the hands of Receiver Stockton ever since.
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# SHERIFF SALES. Will be sold before the court house door in the city of Brunswick, county of Glynn, state of Georgia, on the first Tuesday in April next, during the legal hours of sale, those certain lots or parcels of land lying and being in the city of Brunswick, county and state aforesaid, and known and described on the map or plan of said city made by Geo. R. Baldwin, A. D, 1837, as Old Town lots numbers 157, 158, 208, 209, 210, with the improvements and appurtenances unto each of said lots belonging. Said property levied on as the property of Mrs. A. F. Burbage, under and by virtue of an execution issued from Glynn superior court in favor of Jordan S. Thomas, as receiver of the First National Bank of Brunswick, and against the said Mrs. A. F. Burbage, for $10,500 principal debt, $1,129.90 interest to judgment, January 28, 1895, and further interest at 7 per cent. per year from January 28, 1895, and costs: fi fa proceeding for the benefit of the National Bank of Brunswick, Georgia, transferred. Levy made and returned to me by E. F. Taylor, deputy sheriff. W. H. BERRIE, Sheriff Glynn Co., Ga.
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Will be sold' before the court house door in the city of Brunswick. county of Glynn, state of Georgia, on the first Tuesday in April next. during the legal hours of sale, those certain lois or parcels of land lying and being in the city of Brunswick. county and state aforesaid, and known and described on the map or plan of said city made by Geo. R. Baldwin, A. D, 1837, as Old Town lots numbers 157, 158, 208, 209, 210, with the improvements and appurtenances unto each of said lots belonging. Said roperty levied on as the property of Mrs. A. F. Burbage, under and by virtue of an execution issued from Glynn superior court in favor of Jordan S. Thomas, as receiver of the First National Bank of Brunswick, and against the said Mrs. A. F. Burbage, for $10,500 principal debt, $1,129.90 interest to judgment, January 28, 1895, and further interest at 7 per cent. per yea, from January 28. 1895, and costs: fi fa proceeding for the benefit of the National Bank of Brunswick, Georgia, transferred. Levy made and returned to me by E. F. Taylor. deputy sheriff. W. H. BERRIE, Sheriff Glynn Co., Ga.
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# SHERIFF SALES. Will be sold before the court house door in the city of Brunswick, county of Glynn, state of Georgia, on the first Tuesday in June next, during the legal hours of sale, those certain lots or parcels of land lying and being in the city of Brunswick, county and state aforesaid, and known and described on the map or plan of said city made by Geo. R. Baldwin, A. D. 1837, as Old Town lots numbers 157, 158, 208, 209 210, with the improvements and appurtenances unto each of said lots belonging. Said property levied on as the property of Mrs. A. F. Burbage, under and by virtue of an execution issued from Glynn superior court in favor of Jordan S. Thomas, as receiver of the First National Bank of Brunswick, and against the said Mrs. A. F. Burbage, for $10,500 principal debt, $1,129.90 interest to judgment, January 28, 1895, and further interest at 7 per cent. per year from January 28, 1895, and costs: fi fa proceeding for the benefit of the National Bank of Brunswick, Georgia, transferred. Levy made and returned to me by E. F. Taylor, deputy sheriff. W. H. BERRIE, Sheriff Glynn Co., Ga,