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Its Doors Closed. ATLANTIC CITY, N. J., May 2.-The Merchants bank of this city suspended payment today because of a run caused by the published report that its branches at Elmer, Pleasantville, Egg Harbor City and Mullica Hill were closed up on account of the suspension of the bank of America at Philadelphia. The depositors are principally small business men. The deposits are estimated at $50,000.
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Run on 4 Bank. ATLANTIC CITY, N. J., May 2.-The Merchant's Bank of this city suspended payment at 2 o'clock to-day on account of a run caused by the published reporte that their branches located at Elmer, Pleasantville, Egg Harbor City and Mullicabill had closed up on account of the suspension of the Bank of America, in Philadelphia. There la all excited crowd about the bank. The depositors are principally small business men. The capital of the bank fully paid up is $50,000; deposits estimated at $50,000.
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THE PRUDI TIAL'S S Handsome New Office Rapid Growth and Prosperity of the Company's Busi ness in This City-Its Standing and Prospects. Since the Prudential started business in this city its office has been located the corner of Seventh and Market streets, in the Exchange Building. Its rooms were thought to be ample and convenient enough for a long time, but the rapid increase in the company's business the past two years has oom pelled them to seek a larger place to accommodate their own force and their patrons. The place selected by the company's superintendent, Benj. Specht, Esq. of this city, is the second floor of No. 714 Market street, Hawkins & Co.'s build. ing, formerly occupied by the Mercantile Printing Company, an excellent place and centrally located. To say that Mr. Specht has displayed good taste and judgment in fitting up and furnishing the new office is stating It very mildly On seconding the short stairway on Market street and standing In the vest! bule, the visitor faces the finely fin'shed walnut doors, marked respectively for the different offices within. After passing through the waiting room and enter ing the superintendent's office, the first door on the right, we were shown handsomely furnished room with all the fixtures : and conveniences requisite to entertain those who called to see him on business or for a social chat after the duties of the day were over. We were then escorted through the different apartments. The first, and adjoining the superintendent's office, is the cash. ler's. Here is kept the safe and the company's supplies. The supplies are Paced in a series of ueatly arranged walnut drawers, so that in a moment any piece wanted can be found. This office is in charge of a genial and competent Cashier. In the next room to the left. which is the agent's room, were several busily en. gaged la making out and settling their weekly accounts. talking over the experiences and incidents of the day, all smiling and cheerful. This room is furulshed with several long tables and chairs. On the tables are spread the supplies end wr ting material for their use. The next apartment, which was used by the five assistant superintendonts, two of whom at that moment were engaged over the books and policies of claimants who liad just come in to receive the checks the company gives out when death occurs. The others were in. structing some new men in their duties, just starting out to collect and canvass, This room is fluely turuished with six polished oak desks, made in Chicago expressly for the superintendent. The walls celling of the different roome are neatly papered and bordered the wood work is in cherry and walnut. the whole carefully selected with view to afford as much light as possible, well as to give a pleasing and cheerful tone to the whole office. On returning to the superintendent's office on our way out we asked him about the company 5 standing and busi. ness here-in Wilmington. Waiting until he had directed a lady to one of the assistants relation to her policies and books, he said: The Prudential has a great number of policies in force in this city and State. We have a large number of agents and five assistant superintendents, with a constantly increasing business as time lvances. "Can every body Insure in this com pany, we inquired. We take any person, he said, "of sound health, male or female, from one to 70 years of age upon the payment of weekly premiums five cents and upwards. The death claims are paid promptly, usually within twenty four to forty-eight hours after occurs, affording relief when most needed. 'What class of people the mechanics and laboring men and their families mostly, or are they the business ineu that hold the greater number of the policies 'All classes, be re. plied, "insure in the Prudential It the pioneer in industrial Insurance in this country and all are treated alike providing they pay their premiums. The company business and assets, be said, had been increasing rapidly since its incorporation fourteen years ago, until on the first day of January last they were nearly four million dollars, with a surplus to policy holders of nearly one and half million. bas paid In death claims over five million dollars a now doing business in fourteen states of the Union. Hardly a day passes, said he. that we do not at this office ad Just one or more claims, and the people daily see more and more of the benefit derived from holding large small policy in the hour of bereavement when assistance and protection is need d without delay The future for the Prudential here and elsewhere is very bright Indeed. Other Banks Suspend. PHILADELPHIA, May -Following the crash of the Bank of America on Tues. day, and the Gloucester City National Bank on Thursday, came the suspension of the Fidelity Surety, Trust and Safe Deposit Company of Camden and the Merchants Bank of Atlantic City, with its brauches yesterday. Charles Work president of the Gloucester City Bank. was also president of the Fidelity Surety and Trust Company It was forced to close its doors owing to its supposed connection with the Gloucester Bank and the Bank of America. ruu was started on the Merchants Bauk of Atlantic City, and its Eimer. Egg Harbor, Pleasantville and Port Morris branches, by the impression that it was a part of the Work system, and they all closed their doors during the day. It seems that the Merchants has not been connected with the Work eyetem for a year except that the Bank of America was its correspondent in this city. The failure of these institutions cccastoned no Hurry on the street. The opluton in financial circles was that no other institutions would be affected. George F. Work, the backer of the Bank of America, has proposed a plan of the ac resumption which contem ceptance by the depositors of 10 per cent. cash, and note for six months for the other 90 per cent. o: their deposits. thinks the bank will be able to resuble
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The Merchants' Bank Closes Its Doors. ATLANTIC CITY, N. J., May 3.-A notice was posted on the doors of the Merchants' bank in this city, yesterday afternoon, notifying depositors that the bank would suspend business temporarily. Owing ta the fact that the statement had been circulated that the bank was connected with the defunct Bank of America, of Philadelphia, the depositors made a heavy run on it and the funds ran out. A meeting of the stock. holders has been called to arrange the dif, ficulty. The statement of the connection with the Bank of America is denied by the cashier, O. R. Dunkle, but the main bank, with its branches at Pleasantville, Mullica Hill and Egg Harbor City, have all been ordered closed.
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Another Bank Suspends. ATLANTIC CITY, N.J., May 2.-The Merchants' bank suspended payment this afternoon on account ot a run caused by reports that several of their branches in neighboring towns had suspended on account of the suspension of the Bank of America in Philadelphia. Deposits are estimated at $50,000.
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Suspended Temporarily. ATLANTIC CITY, N. J., May 3.-About 2 p. m. yesterday a notice was posted on the doors of the Merchants' bank, in this city, notifying depositors that the bank would suspend business temporarily, owing to the fact that the statement had been circulated that the bank was connected with the defunct Bank of America, of Philadelphia, causing the depositors to make a heavy run on it and the funds ran out.
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Another Bank Pulled Down. ATLANTIC CITY, N.J., May 2.-The Merchants' Bank of this city suspended payment at 2 o'clock to-day on account of a run caused by published reports that their branches located at Elmer, Pleasantville, Egg Harbor City and Mullicahill had closed up on account of the suspension of the Bank of America in Philadelphia.
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An Atlantic City Bank Suspends. ATLANTIC CITY, N.J., May 2.-The Merchants' bank suspended payment this afternoon on account of a run caused by reports that several of their branches in neighboring towns had suspended on account of the suspension of the Bank of America. The deposits are estimated at $50,000.
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ATLANTIC'S SHAKY BANK. The State Is in Control - A Plan of Resumption. Special to the Jersey City News. ATLANTIC CITY, May 6, 1890.-Robert Field Stockton yesterday served an injunction, secured by his father, Attorney General Stockton, from the Court of Chancery, restraining the Merchants' Bank from resuming business. The injunction was served on Cashier Dunkle, and this of course virtually puts the control of the bank in the hands of the Board of Bank Commissioners, who will thoroughly investigate its condition. The cashier, Oliver R. Dunkle, has been prostrated since the doors closed and denies himself to all. The directors still look forward to reopening, but it is asserted that this will be impracticable, and the seeming unwillingness of those in charge to make public a statement which can be regarded as authentic makes a great many people skeptical of the bank resuming business at an early day, if ever. A scheme has been set on foot to try to get the heavy depositors to agree not to withdraw more than a certain percentage monthly until things are on a more substantial basis, and the Board of Directors will try to make such a scheme practicable. A number of the larger depositors, realizing their position, seem to favor this course, thinking that a part is better than none at all. Now, however, that the State has hold of the concern, the proper officials will see whether or not things rest upon a substantial foundation, and if they do not the future guardianship will be lodged in them. The Chancellor this morning appointed John Hood, of Camden, receiver of the Merchants Bank. His bonds were fixed at $50,000.
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A RECEIVER FOR AN ATLANTIC CITY BANK Trenton, N. J., May 6 (Special).-Chancellor McGill this afternoon appointed John Hood receiver of the Merchants' Bank of Atlantic City, which collapsed in the wreck of the Bank of America of Philadelphia. The application for a receiver for the Camden Fidelity Surety. Trust and Safe Deposit Company was referred to Vice- hancellor Bird, who will hear arguments on Thursday. Mr. Hood was required to furnish $30,000 bonds. Every bank in the State within the jurisdiction of the Bank Commissioners will be subjected to - a thorough examination.
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punor 'Yeuour pesoddns our countries on to contain tissue paper wrapped in a few "SIIIQ pood THE Secretary of the Treasury has ordered the release of the cargo of the steamship City Berlin, which was seized by the custom-house authorities at New York for failure to enter. JOSEPH H. FORD, formerly bookkeeper for H. B. Claffin Co., and lately cashier of the Chicago Beef Company at New York, has been missing several days. He had considerable money on his perpue watch p[o] Alluable B pus uos chain. THE settlement among the creditors of Henry S. Ives & Co. for five cents on eq 07 about si dollar the An application for order for authority to examine the accounts was made. It is shown that ninety per cent. of the creditors have signed the compromise agreement. THE New York Assembly, by a vote of 75 to 29, has passed the bill to abolish capital punishment in that State. THE Gloucester City (N. J.) National Bank closed its doors on the 1st. The out 07 enp eq of posoddns sp uorsuedsns Phila up America JO Bank out JO Failure delphia, with which it had dealings. AT Benzonia, Mich., on the 1st, C. T. Wright, the wealthy lumberman and president of the Otter Creek Lumber Company, who was convicted of murder in the second degree for killing Dr. Thurber and Sheriff Marshall, was sentenced to life imprisonment at hard labor in Jackson prison. AT Omaha, Neb., on the 1st the tailor q ere uo 408 SUM Drawn 'Π― 'N JO doys the explosion of a can of gasoline and the proprietor was burned to death. Forty girls were cut off from escape from the building, and had the chemical engine been five minutes later all of them would have lost their lives. OFFICERS went to the home of Henry the uo "X 'N 'Suis Suid TE Raymond O 1st to arrest him for bigamy. Obtaining siq 07 o.8 04 offects the more room to change his clothes, the accused man drew a revolver and shot himself through the breast, inflicting a fatal "ΡΠΈΠΏΠΎΠΌ THE wealthiest convict who ever wore stripes in the Joliet (Ill.) penitentiary was discharged from that institution on JOJ eouo 78 the pue 1st out having recently fallen heir to over half a million dollars in that country. The morj dn ques SUM eq tab time offerials Rock Island for one year for forgery, his myse B st there 7nq record. THE Baptist and Catholic churches, also the Catholic parsonage, at West Boyleston, Mass., were burned on the 2d. pensis oum ueu the JO RAIN of alleged illegal registration in the Paul, 7S JO spras Sixth pus Fourth Minn., at the recent election, have been arrested on the charge of perjury. THE Merchants' Bank of Atlantic City, uo 'pr equ uo partient pepuedens "I N accountofarun caused by published reports that their branches located at Elmer, Pleasantville, Egg Harbor City, -08 uo dn closed peq II!H Muttice pus JO Bank our JO uoisuadsns JO tunoo America in Philadelphia. BUSINESS failures occurring throughout the country during the seven days with compared se 2111 O.IOM % May pepue 218 the previous week. For the corresponding week of last year the figures 214 GJOM the uo 10.1 MON 78 pecunous SEM II 2d that negotiations were in progress for the purchase of the Alton & Terre Haute railroad by the Cleveland, Chi18 Company, 7S 28 obeo '000'000'01$ JO peΓ§io the AT San Francisco, Cal., on the 2d Frank Williams, convicted of robbing the stage at Downieville, Cal., of United -ues SEM 'oSe months euios mail States tenced to imprisonment for life. (*x 'N) Allbany the 78 THIS V stockyards on the 2d destroyed structures -ue pue punor$ JO acres x18 tailed a loss of $50,000. THE accounts of Charles Ebers, exAuditor of Henry County, O., have been officially investigated and are found to short 000'02$ about eq CONGRESSMEN SAYERS, of Texas, and Bland, of Missouri, have returned to the Treasury the drafts made in their favor for the money they lost through the defalcation of Silcott. As there was no other way for the Treasury Departpeurnt SUM # Aenour eq: accopt 04 quow 'punj consieneo the 1 THE Sioux City (Ia.) committee that guaranteed $70,000 toward the erection of a temple for the National Order of Railway Conductors, has withdrawn the offer and ordered the money returned to the subscribers, because of the failure May sq work be 04 equal to peeside se n the uo quest route . 'M o Northern Pacific railroad, was recently arrested in Chicago for robbing the United States mails between Duluth and Brainerd, Minn. REPORTS from Rice. Olmstead, Fairbault and other Southern Minnesota counties indicate that winter wheat is practically all killed and farmers are up persue 1 "xey pue oats spring B. R. WHITTHORNE, late cashier of the National Bank at Shelbyville, Tenn..
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Another Now Jersey Bank Fails. The Merchants' Bank of Atlantic City, N. J., has suspended payment on account of a run. This was caused by published repo: ts that their branches. located at Elmer, Pleasantville. Egg Harbor City, and Mullica Hill. had closed on account of the suspension of
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Another Now Jersey Bank Fails. The Merchants' Bank of Atlantic City, N. J., has suspended payment on account of a run. This was caused by published reports that their branches. located at Elmer, Pleasantville. Egg Harbor City, and Mullica Hill, had closed on account of the suspension of the Bank of America in Philadelphia. The depositors are principally small business men, and an excited crowd gathered about the bank. The capital of the bank is $50,000, and the deposits are estimated at the same amount.
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Bank Suspension. ATLANTIC, N. J., May 2.-The Merchants Bank of this city suspended payment at 2 o'clock today on account of a run caused by published reports that their branches located at Elmer, Pleasantville, Egg Harbor City and Mullicanil had closed up on ac count of the suspension of the bank of America in Philadelphia. There is an excited crowd about the bank. The depositors are principally small business men. The capital of the bank full paid is $50,000. Deposits are estimated at $50,000.
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BANK OF AMERICA OFFICERS HELD FOR TRIAL Philadelphia, May 8.-Pre-ident Lonis Ffeiffer, Cashier Dungan, Assistant Cashier Joshua Pfeiffer and Paying Teller Hergesheimer, of the suspended Bank of America, had a hearing this afternoon before Magistrate McCarty, on the charges brought yesterday by Roger Maynes, a depositor of the bank. There were two charges brought by Mr. Maynes against the bank officials. One charged them with conspiracy to injure Mr. Maynes's credit, by refusing payment on his check and informing the person presenting the check that Mr. Maynes had not sufficient funds on deposit. The other charge was that officials accepted $3,300 from Mr. Maynes on April 29. when they knew the bank was insolvent. The Magistrate held the president and cashier in $2,000 bail each. and the other two officials in $1,000 ball each, for trial. Camden, N. J., May 8.-John Hood, of this city. has taken the oath as receiver of the Merchants' Bank. Atlantic City, and will go to there to-morrow to take possession.
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# A Merchant Bank Depositor Sues. In the Vice-Chancellor's Court, at Camden, on Monday, argument was heard on behalf of Rutus E. Smith, of Elmer, a depositor, to recover $431.71 from the defunct Merchants Bank, of Atlantic City. His action was to garnishee the amount which is in the hands of the receiver, John Hood. In his testimony Mr. Smith claimed to have given a draft upon his account in the Elmer bank for $431.71 in payment for a carload of grain. The amount was paid to the cashier of the bank in two checks. As the transaction was simply one of trust, the complainant demanded the entire sum, which the receiver refused to countenance. Decision was reserved.
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VERDICT FOR A BANK RECEIVER. May's Landing, April 17.-In the Atlantic County Court yesterday a suit of John Hood, as receiver of the defunct Merchants' Bank, of Atlantic City, against E. T. Evard and Louis Evans, administrators of the estate of Robert T. Evard, was tried. R. T. Evard was one of the bondsmen of Oliver R. Dunkle, the cashier, whose manipulations, it 1s alleged, ruined the bank. The sult was brought to recover a shortage against the estate as Dunkle's bondsmen. Judge Reed instructed the jury to find a verdict in favor of the receiver for $20,000 and costs.
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TO BE BROUGHT BACK The Ex-Cashier of a Defunct Atlantic City Bank. May's LANDING, N. J., Aug. 19.Sheriff Charles S. Lacy, of this county, left here this morning for Fort Payne, Ala., to bring back to this county Oliver R. Dunkle, ex-cashier of the defunct Merchants' bank, of Atlantic City, on a charge of embezzlement and falsification of his books. About a year ago the Merchants' bank, which had branches in Pleasantville, Elmer and Egg Harbor City, closed its doors, with liabilities to the amount of $100,000. At that time Cashier Dunkle was charged with causing the bank's downfall by embezzling its funds. Nothing was done, however, until last September, when Receiver Hood secured an indictment against Dunkle. The charges are numerous, and embody many things that will go to show the reason of the bank's failure. A few days ago Assistant Prosecutor Clarence T. Cole suddenly appeared in Fort Payne and had the ex-cashier placed in jail to await requisition papers from Governor Abbett. These were signed on Saturday. Dunkle will be placed in prison here, but will probably obtain bail. Dunkle is now a prominent church member and superintendent of a Sunday school at Fort Payne. He is about 60 years of age. His arrest has caused a sensation in this county.
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Names Erased From a Bond. CAMDEN, N. J., Jan. 18.-Testimony was heard in the suit of John Hood, receiver of the insolvent Merchants' bank, at Atlantic City, against Robert Stroud, who was one of the men on Cashier O.R. Dunkle's bond for $20,000. Dunkle is short in his accounts, and the present proceedings were brought to recover the deficiency from his bondsmen. A former clerk in the bank, who is now in the employ of the receiver, testified that he saw the eashier erase from the bond the name of George W. Dunkle, while immediately above this the name of Robert Stroud bad been erased. Further testimony for the receiver will be presented.
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Names Erased From a Bond. CAMDEN, N. J., Jan. 18.-Testimony was heard in the suit of John Hood, receiver of the insolvent Merchants' bank, at Atlantic City, against Robert Stroud, who was one of the men on Cashier O. R. Dunkle's bond for $20,000. Dunkle is short in his accounts, and the present proceedings were brought to recover the deficiency from his bondsmen. A former clerk in the bank, who is now in the employ of the receiver, testified that he saw the cashier erase from the bond the name of George W. Dunkle, while immediately above this the name of Robert Stroud had been erased. Further testimony for the receiver will be presented.
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Names Erased From a Bond. CAMDEN, N. J., Jan. 18.-Testimony was heard in the suit of John Hood, receiver of the insolvent Merchants' bank, at Atlantic City, against Robert Stroud, who was one of the men on Cashier O. R. Dunkle's bond for $20,000. Dunkle is short in his accounts, and the present proceedings were brought to recover the deficiency from his bondsmen. A former clerk in the bank, who is now in the employ of the receiver, testified that he saw the cashier erase from the bond the name of George W. Dunkle, while immediately above this the name of Robert Stroud had been erased. Further testimony for the receiver will be presented.