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A Bank Suspends. Asheville, N. C., July 31.-The First National bank of this city did not open this morning. A notice was posted stating that owing to the inability to collect and the stringency of the times, the bank would go into voluntary liquidation. The last statement was made on May 14, showed loans and discounts $308,267.94 and deposits $77,859.85.
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BANK DID NOT OPEN. ASHEVILLE, N. C., July 31, 1897.- - The first National Bank of this city did not open this morning. A notice was posted on the door stating that owing to the inability to collect and the stringency of the times the bank will go into voluntary liquidation. The last statement made on May 14, showed loans and discounts $308,267.94,over drafts $10,323.23, deposits $76,859.85, capital stock $100,000, surplus $20,000. The three other banks in the city opened as usual. There was no excitement and no run.
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Bank Closed. ASHEVILLE, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted on the door stating that owing to the inability to collect and thestringency of the times, the bank will go into voluntary liquidation. The last statement made on May 14th showed loans and discounts $308,267.94, over drafts $10,323.23; deposits $76,859.85; capital stocck $100,000; surplus $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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NATIONAL BANK CLOSED. Asheville, N. C., July 31.-The First National bank of this city did not open this morning. A notice is posted on the door stating that owing to its inability to collect and the stringency of the times the bank will go into voluntary liquidation. The last statement made on May 14th, showed loans and discounts of $308,267; over drafts $10,323.32; deposits $76,859.85; capital stock $100,000, surplus $20,000. Three other banks in the city opened as usual. No run was attempted and there is no excitement.
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ASHEVILLE BANK FAILS. The First National Does Not Open for Business. Asheville, N. C., July 31.-The First National bank did not open this morning. A notice was posted on the door stating that owing to inability to collect and stringency of times the bank will go into voluntary liquidation. The last statement, made May 14, showed loans and discounts of $308,267.94; overdrafts, $10,325.25; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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National Bank Closed. ASHEVILLE, N. C., July 31.-The First National Bank of this city did not open this morning. A notice was posted on the door stating that owing to the inability to collect and the stringency of the times, the bank will go into voluntary liquidation. The last statement made on May 14 showed loans and discounts, $308,267.94; overdrafts, $10,323.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted and there is no excitement.
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Voluntary Liquidation. ASHEVILLE, N. C., July 31.-The First National bank, of this city, did not open this morning. A notice was posted on the door stating that owing to the inability to collect and the stringency of the times, the bank will go into voluntary liouidation. The last statement, made on May 14, showed loans and discounts $308,267.94; overdrafts, $5,133.23; deposits, $76,859.85; capital stock, $100,000; surplus, $20,000. The three other banks in the city opened as usual. No run has been attempted, and there is no excitement.
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A Bank Suspension at Ashville Asheville, N. C., July 31.-The First National bank, of this city, did not open this morning. A notice was posted stating that owing to the inability to collect and the stringency of the times the bank will go into voluntary liquidation. The last statement, made on May 14th, showed loans and discounts $308,267.94; overdrafts, $10,323.23; deposits, $76,859.85; capital stock, $100,000; surpius, $20,000. The three other banks in the city opened as usual. No run has been attempted, and there is no excitement.
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Failures. The First National bank of Asheville. N. C., has gone into voluntary liquida sion. The George 8. MacDonald company, manufacturers of brooms and brushes F Huntington, W. Va., has assigned. Assets and liabilities unknown. The Golden Rod Silk company of Paterson, N.J., has given notice of its failure and a receiver has been appointed. Liabilities, $108,000; assets, about $75,000. S. F. Westeont, ex-county terasurer, grain dealer and miller, of Wilmington, 0,, has assigned to F.M. Moore, Jr. Mrs. S. F. Westcoat has also assigned. Assets and liabilities unknowa.
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ASHEVILLE'S BANK RECEIVER. Asheville, N. C., Aug. 16.-George S. Powell, of this city, to-day received official notification of his appointment as receiver of the First National Bank of Asheville, which recently closed its doors.
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Receiver of Asheville Bank. ASHEVILLE, N. C., August 16.George S. Powell, of this city, to-day received official notification of his appointment as receiver of the First National Bank of Asheville, which recently closed its doors.
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Appointed Bank Receive & The cohtroller of the currency has appointed Virgil S. Lusk receiver of the First National Bank of Asheville, N. C.
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V.S. Lusk Appointed Receiver Washingon, August 23.-The comptroller of the currency has appointed Virgil S. Lusk receiver of the First National bank of Asheville, N. C.
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Virgil S. Lusk, Receiver. WASHINGTON, D. C., August 23.The Comptroller of the Currency has apnointed Virgil S. Lusk receiver of the First National Bank of Asheville, N. C.
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Bank Receiver Appointed. Washington, Aug. 24.-The comptroller of the currency has appointed Virgil S. Lusk receiver of the First National bank of Asheville, N. C.
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Washington News Notes. ashir.gton, August 23.-The comptrollf the currency has appointed Virgiol Lusk receiver of the First National $ of Asheville, N. C. e comptroller of the currency has ded dividends in favor of the creditors solvent banks as follows: Twenty-five ent. the Dalles National bank of 3, Oregon: 5 per cent, the National of Illinois, Chicago, IiI.
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Bank Receiver Appointed. Washington, Aug. 23.-The comptroller of the currency has appointed Virgil S. Lusk receiver of the First National bank of Asheville, N. C.
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BANK OFFICERS ARRESTED. They Are Charged With Embezzlementand Conspiracy-A Child Run Over, ASHEVILLE, N. C., Oct. 7.-Special.Major William E. Breese, president; W. H. Penland, cashier, and J. E. Dickerson, a director of the First National Bank of this city, which closed its doors in July, were arrested here to-day by United States deputy marshals from Greensboro. The grand jury of the Federal Court, which is now in session at Greensboro, returned true bills yesterday against these gentlemen. Special Bank Examiner Maxey left here Tuesday and furnished evidence to the grand jury in Greensboro yesterday. The charge is embezzlement and conspiracy. Bonds of thirty thousand dollars each were required. Major Breese gave his bond early in the day but the other two were not so successful, and were committed to jail. Major Breese then relinquished his bond and went to jail with his friends. Later in the day all gave bonds and were released. A two-year-old son of G. T. Wilson. of Yancy county. who was visiting in Asheville. was yesterday run over by a street car and seriously injured. One leg had to be amputated, and n is feared he cannot live.
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Overloaded With Real Estate. Asheville, N. C., Oct. 12.-When the First National bank failed on July 30, many depositors of the West Carolina bank endeavored to withdraw their funds. The 60 day rule was enforced as soon as the demands became large, and this morning the bank did not open its doors. It is understood that the bank was overloaded with real estate. The number of depositors is large.
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ASHEVILLE'S BROKEN BANK. The Trial of the Indicted Officers Postponee and Their Bail Reduced. ASHEVILLE, N. C., Nov. 5.-Special.The case against Breese, Penland and Dickinson. the officers of the suspended First National Bank came up in the Federal Court to-day. The case was continued till the May term and their bonds reduced to $15,000.
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THEY KNEW IT ALL So Says Breese of Officers of National Banking System. (By the Associated Press.) Charlotte, N. C., July 21.-Wm. E. Breese remained on the witness stand ir the United States District court today, continuing the testimony in his own behalf in the case against him for wrecking the First National Bank of Asheville, of which he was president. When court adjourned his testimony was not finished. The line of his testimony, in addition to bringing out certain facts is to snow that the officers of the government having in charge the national banking system were at all times cogpizant of everything he did and that nothing whatever was concealed from the Comptroller of the Currency. The testimony embraced dozens of letters that had been passed between him and officers of the government, dating from August 30, 1893, four years before the failure of the bank. The letters related to the efforts he was making to save the bank from ruin and to arrange ararngements for liquidating the indebtedness of the institution for the purpose of converting it into a State bank. District Attorney Holton objected to the admission of many letters and several of them were ruled out. After the District Attorney had made repeated objections, this when he had asked that the witness read a certian letter, Maj. Breese created a little amusement by turning to Judge Kelier and saying: "The district attorney wants me to read all the letters that are favorable to him, but he objects to those that are in my favor." The court announced that it was the preogative of the district attorney to object when he saw fit and that the presiding judge would rule on all matters as the merits of the case in question might deserve. The witnes swas starting to tell of a run on the National Bank of Asheville when District Attorney Holton objected, unless the defense proposed to go into the affairs of the National Bank of Asheville. "If they propose to do that, I am willing. Some of the officers of that bank are now in the penitentiary." Counsel for the defense objected sericusly to this remark, Judge Moore saying it could not be excused on any ground.
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THE BREESE TRIAL. Interesting Evidence Brought OutSensational Testimony-The Defendant on the Stand. Charlotte, N. C., July 20.-Today proceedings in the trial of William E. Breese for embezzlement were the most interesting since the trial began, over a week ago, the district attorney resting the case for the government and the defendant, who is accused of taking $114,000 of the funds of the First National bank of Asheville, of which he was president, going on the stand in his own behalf. The most interesting evidence brought out by the prosecution was in connection with the declaration that the First National bank of Asheville, had collected for other banks and failed to remit. Evidence was also brought out to show that officers of the bank had overdrawn their accounts for large sums after they had notified customers that they had agreed to cease "this form of accommodation." The sensation of the day occurred when evidence was introduced connecting the name of J. S. Adams, one of the attorneys for the defense, with the transactions of the bank just prior to its failure. It was shown that a note signed by him had been taken up and replaced by an insolvent note. The insolvent note was discontinued and the proceeds placed to the credit of Mr. Adams. The defense placed Mr. Adams on the stand and a satisfactory explanation was made of the entire transaction. The witness swore that his note which was in the bank was an accommodation note and that he derived no benefit from the proceeds. In order that his position might be understood fully, District Attorney Holton stated that he did not intend to convey the impression that Mr. Adams was connected with any wrong doing. In his testimony, Mr. Breese explained that the failure of the bank was due to the panic of 1892 and 1893, which caused a depreciation in all values in the Asheville section. The ill effects of the panic were visible in Asheville for years. There was a wholesale deprecation of values, ranging from 50 to 75 per cent. and the entire community was almost ruined. He claimed that his investments for the bank were made with the consent of the directors. The witnesses said in a large pocket book were all the notes he had made and the collateral security thereof and that this had disappeared since the second trial. District Attorney Holton said the pocket book would be produced. Breese's direct testimony was in progress when court adjourned until tomorrow. The cases against Penland and Dickerson, other officers of the defunct bank, who are accused of taking about $175,000 have been continued to October, owing to the fact that Judge Keller is called to West Virginia on business.
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BREESE ON STAND. Submits Correspondence to Show Official Knowledge of Course. (By Associated Press.) CHARLOTTE, N. C., July 21.-William E. Breese remained on the witness stand in the United States District Court today, continuing the testimony in his own behalf in the case against him for wrecking the First National Bank of Asheville, of which he was president. When court adjourned this testimony was not finished. The line of his testimony, in addition to bringing out certain facts. is to show that the officers of the government having In charge the national banking system were at all times cognizant of everything he did, and that nothing whatever was concealed from the Comptroller of the Currency. The testimony embraced dozens of letters that had passed between him and officers of the government, dating from August 30, 1893, practically four years before the failure of the bank. The letters related to the efforts he was making to save the bank, from ruin and to arrangements for liquidating the indebtedness of the Institution for the purpose of converting It into a. State bank. District Attorney Holton objected to the admission of many of the letters, and several of them were ruled out. After the district attorney had made repeated objections, and when he had asked that the witness read a certain letter. Major Breese created a little amusement by turning to Judge Keller and saying: "The district attorney wants me to read all the letters that are favorable to him. but he objects to everything that is in my favor.' The court announced that it was the prerogative of the district attorney to object when he saw fit. and that the presiding judge would rule on all matters as the merits of the case in question might deserve. The witness was starting to tell of a run on the National Bank of Asheville, when District Attorney Holton objected. unless the defense proposed to go into the affairs of the National Bank of Asheville. "If they propose to do that," he sald, "I am willing. Some of the officers of that bank are now in the penitentiary." Counsel for the defense objected seriously to this remark, Judge Moore saying it could not be excused on any ground.
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MORE WITNESSES EXAMINED. Progress in the Breese Trial-The Do fendant Again Gives Evidence in His Own Behalf. Charlotte. N. C., July 23.-Today marked the close of the second week of the Breese embezzlement trial. one of the most interesting and important actions ever brought in the federal courts in this or any other state. A great mass of testimony has been Introduced, and the indications are that at least one more week will be required in bringing the case to a close. William E. Breese, the defendant, has been on the witness stand the greater part of the time since Wednesday at noon. and it is probabie that his direct testimony will not be finished before the adjournment of court Monday afternoon. The district attorney will have him under cross examination for a day and perhaps longer. The defendant was taken off the stand this morning to permit several witnesses who were anxious to return home to testify. Four witnesses tes. tifled to the character of Breese, and the government introduced a witness to testify concerning a note which the First National Bank at Asheville had discounted in Charleston shortly before the failure. Breese resumed his direct termmony. He took up the discount ledger. a book of which S. T. Dorsett testified at length and explained to the jury the method of keeping the book and why it was kept. Considerable time was consumed in the examination in reference to the letters Breese had written other banks concerning notes signed by insolvent persons. The witness said he considered the notes good by reason of the fact that they were endorsed by J. E. Dickerson & Co., the First National Bank of Asheville and ther firms and corporations. He had no intention to deceive when he wrote banks which had re-discounted the notes. Touching the failure of the First National Bank to remit checks for drafts that had been collected for other banks, Major Breese said they were signed and held for the simple reason that it was impossible to send them off. It had been necessary to withdraw the money from the banks upon which the checks were drawn, and as money was being withdrawn from the First National Bank faster than it was being deposited. it was impossible to re-place the funds. The witness was striving to carry the bank along. and still hoped to be able to avert the threatened panic. As it turned out. the depositors at home got the benefit of this action. and the creditor banks in the north lost. The witness averred that he received no personal benefit from any of the money that was withdrawn from the bank. the checks that were charged against his account having been drawn to pay various bills. His overdrafts were for the purpose of making good the interest and renewals of notes.