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A PRIVATE BANK Brought to Suspension by Failure of Debtors. CLARKSVILLE, Tenn., Dec. 10.-Franklin Bank, a private concern, with capital of $50,000, suspended payment this morning on account of the recent failure of Henry S. Befeart, New York, a large tobacconist, with whom the Franklin bank has been doing a large credit business. Kendrick, Pettus & Co., a large tobacco firm assigned today. This firm had large deposits in the Franklin bank. Liabilities, $41,000.
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Business Troubles. N. L. Avery and Raphael Semmes, dolug business as N. L Avery & Co., at a number of places in Arkansas, have assigned. Liabilities $60,000; nominal assests, $60,000. Hamilton & Bishop, stock brokers, New York, have assigned. Liabilities $75,000. The Franklin bank, a private concern, a Clarksville, Tenn., has suspended as the result of the failure of Seafort, a New York tobacconist. Kendrick, Pitts & Co., tobacco. dealers, who had business with the bank were foread to assign. Liabilities $41,000.
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Financial Failures in Tennessee. CLARKSVILLE, TENN., December 10.The Franklin bank, of this city, suspended payment this morning. The failure was caused by the recent failure of Henry Seafert, of New York, a large tobacconist, with whom the Franklin bank had been doing a largecredit business. Liabilities over $200,000, and assets exceed the liabilities by about $50,000. The directors hope for an early settlement, but the prospects are discouraging. Kendrick, Peetus & Co., a large tobacco firm, made an assignment to-day. Liabilities, over $400,000; nominal assets exceed this amount. The suspension of the bank in which the firm had large deposits, and the stringency of the money market, was the cause of the assignment. A run on the Farmers and Merchants' National Bank followed, and the doors were closed. This was caused by the other failures, but that institution will probably resume business in a day or two. Great excitement exists in business circles.
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Business Trouble in Clarksville, Tenn. (By telegraph to the Dispatch.] NASHVILLE, TENN., December 10.-A special from Clarksville, Tenn., says: The Franklin Bank of this city suspended payment this morning. The failure was caused by the recent failure of Henry Seafort, of New York, a large tobacconist, with whom the Franktin Bank had done a large credit business. The Franklin Bank is B private institution, with a stock of $50,000. The assets'and liabilities of the bank are not known 68 yet. Kendrick, Pettus & Co., a large tobacco firm, made an assignment to-day. The
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Tennessee Banks Suspend. The suspension of the Franklin Bank : of Clarksville, Tenn., yesterday was followed by the assignment of Kendrick, Pettus & Co., tobacco dealers. Two or three hours later the Farmers' and Merchants' National Bank suspended payment. The Franklin Bank was a private institution, with a capital stock of $52,000. Kendrick, Pettus & Co.'s liabilities are $410,000. Their assets are not known.
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GENERAL NEWS. The liabilities of the Franklin Bank which suspended Wednesday at Clarksville, Tenn., are over $200,000; assets $50,000. Frank McCormick, a school boy of Port Jervis, N. Y., shot himself Wednesday rather than to go to school. He is probably fatally wounded. Col. Corbin, of Gen. Miles's staff, says the tenor of the despatches from the Indian country leads him to believe the bottom is dropping out of the threatened uprising. A considerable number of bucks, he says, have left the Bad Lands and gone to Pine Ridge. During the trial trip of the cruiser Newark Wednesday, an accident occurred to the starboard engine. It will be Immediately repaired and the trial will be continued today. The speed attained by the vessel thus far has exceeded that which the contract called for.
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A TOBACCON Sr ASSIGNS. His Liabilities $250,000, But His Assets Equal to Them. NEW YORK, Dec. 11,-Henry Siebert, a tobacco commission merchant at Nos, 76 and 78 Broad street, has suspended. Mr. Siebert did a large business, handling western tobacco on commission chiefly, and has for many years received large consignments of tobacco from Clarksville. His liabilities are estimated at $250,000. It is thought be has enough assets to pay in full. AN ASSIGNMENT AT CLARKESVILLE. NASHVILLE, TENN., Dec. 11.-R. H. Walker & Co., tobacconists at Clarksville, Tenn., assigned to-day. Their liabilities are $40,000 and their assets $53,000. J. C. Hambaugh, a member of the firm, made a personal assignment. The firm was involved by the failure of the Franklin Bank.
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Nubs of News, The American bank will not resume business. These are about $190,000 due depositors. The Western Union directors declared a quarterly dividend of 1} per cent Wednesday. Freedom of the city of Edinburgh, which was recently presented to Parnell. hes been withdrawn. Bullion to the amount of £350,000 was withdrawn from the Bank of England Wednesday for shipment to America. Two Hotchkiss machine guns with ammunition were shipped to Fort Mead, 8. D, from Fort Monroe, Va., Wednesday. The entire force of Clark's thread mills in Newark, N. J., and Kearney, struck Wednesday. Over 3,000 men and girls are out. The Franklin bank of Clarkeville, Tenn., suspended payment Wednesday. Liabilities $200,000, and the assetts excect the liabilities by about $50,000. In the case of the government against Slavin and McAuliffe, charged with a breach of the peace 14 engaging in a prize fight, a verdict of not guilty was returned by consent of the prose= cution, and the prisoners were released.
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stock. It has been opposing him. It will appear as a Parnell organ. News bas reached Philadelphia of the loss of the steamer Westburne, with twenty-one of her crew of twenty-five, in the Black Sea November 24. In a street fight at Paul's Valley, I. T., over a woman, Senator Sam Paul, of the Chickasaw Nation, shot his sun Joe. A call has been issued by the Kansas Farmers' Alilance for a convention to meet at Topeka to consider the senatorial situation. Mrs. Dacey, a plucky Wichita woman. made a professional gambler refund, at the pistol's month, $560, out of which he had fleeced her husband. The Franklin Bank at Clarksville, Tenn., failed with liabilities of $200.000. This precipitated the $400,000, failure of a tobacco house and a run on another bank. Mrs. Robt. Champman, wife of a wellknown merchant. started from her home in W chita to visit relatives at Fort Worth. but did not go there Her departure was taken one day after that of a prominent real estate man.
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The Franklin Bank, of Clarksville, a private bank with a capital of $50,000, suspended payment Wednesday. In consequence of this failure Kendrick, Pettus & Co., tobacco warehousemen of the same city were forced to make an assignment.
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Tobacco Merchant Fails. NEW YORK, Dec 12.-Henry Siebert, tobacco commision merchant of 76 and 78 Broad street, suspended. The first intimation the trade received was a dispatch from Clarksville, Tenn., saying that the Franklin bank of that city had suspended on account of the failure of Sibert. Sibert did a large business. Liabilities estimated at a quarter of a million.
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Clarksville, Tenn., thrown into great excitement Wednesday by the failure of the Franklin bank, and Kendrick, Pettus & Co., wholesale tobacco dealers. Run upon Farmers and Merchants bank ensued, and after paying out over $60,000, that house also closed its doors.
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tcn. were run over and killed by a train at Minneapelis, Minn. FIRE destroyed Kittle & Co.'s linseed oil works at San Francisco, causing a loss of $200,000. IN session at New Orleans the National Board of Trade passed resolutionsin favor of reciprocal trade regulations; of revision of the National banking laws; of a postal telegraph and penny postage on local delivery letters, and in favor of a unification of the monetary systems of the leading commercial nations. AT Clarksville, Tenn.. the Franklin Bank failed for $200,000; assets, $250,000. Q. T. ARCHER'S three sons, aged 16, 13 and 9 years respectively, were drowned in the Delaware river at Valley Falls, Kan., while crossing on the ice. IN the jail yard at Meridian, Miss., George Martin, the murderer of William Crouch. was executed. LOUIS SCOTT shot his wife and killed himself at Kaiamazoo, Mich. Domestic trouble was the cause. FLAMES at Sandusky, O., destroyed a grain elevator and 3,000,000 feet of lumber. Total loss, $100,000. AN unknown man at Tennyson, Ind., just before his death made the statement that he was the murderer of John R. Bilderbach near Fort Branch, Ind., twenty years ago, for which crime Thomas Camp was hanged. Camp asserted his innocence on the scaffold. CHARLEY JOPLIN shot and killed at Jenny Lind Ark., John Miller, Miller's wife and grown daughter, Dr. Stewart and a man whose name was not learned, five persons in all. Afterward he killed himself. JOHN L. M. IRBY, the Farmers' Alliance candidate, was elected United States Senator by the South Carolina Legislature. This retires Senator Wade Hampton, who has represented the State in the National Senate for three terms. AT Pine Ridge Agency. S. D., reports were received on the 11th that the ho3tile Indians had been fighting among themselves in the Bad Lands. The fight was for the leadership between Two Strike and Short Bull. and the result was from twenty to fifty dead Indians.
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WEST AND SOUTH. THE Legislature passed over the veto of Governor Steele the bill locating the capital of Oklahoma at Kingfisher. MR. AND MRS. E. T. TODD. of Sioux City, la., and their daughter, Mrs. Slayten, were run over and killed by a train at Minneapolis, Minn. FIRE destroyed Kittle & Co.'s linseed ol works at San Francisco, causing a loss of $200,000. IN session at New Orleans the National Board of Trade passed resolutionsin favor of reciprocal trade regulations; of revision of the National banking laws; of a postal telegraph and penny postage on local delivery letters, and in favor of a unification of the monetary systems of the leading commercial nations. AT Clarksville, Tenn., the Franklin Bank failed for $200,000; assets, $250,000. Q. T. ARCHER'S three sons, aged 16, 13 and 9 years respectively, were drowned in the Delaware river at Valley Falls, Kan., while crossing on the ice. IN the jail yard at Meridian, Miss., George Martin, the murderer of William Crouch. was executed. Louis SCOTT shot his wife and killed himself at Kalamazoo, Mich. Domestic trouble was the cause. FLAMES at Sandusky, O., destroyed a grain elevator and 3,000,000 feet of lumber. Total loss, $100,000. AN unknown man at Tennyson, Ind., just before his death made the statement that be was the murderer of John R. Bilderbach* near Fort Branch, Ind., twenty years ago, for which crime Thomas Camp was hanged. Camp asserted his innocence on the scaffold. CHARLEY JOPLIN shot and killed at Jenny Lind Ark., John Miller, Miller's wife and grown daughter, Dr. Stewart and a man whose name was not learned, five persons in all. Afterward he killed himself. JOHN L M. IRBY. the Farmers' Alliance candidate, was elected United States Senator by the South Carolina Legislature. This retires Senator Wade Hampton, who has represented the State in the National Senate for three terms. AT Pine Ridge Agency, S. D., reports were received on the 11th that the hostile Indians had been fighting among themselves in the Bad Lands. The fight was for the leadership between Two Strike and Short Bull, and the result was from twenty to fifty dead Indians. A FIGHT took place on the 12th four miles north of Pine Ridge agency in
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F ilures at Clarksville, Tenn. The Franklin Bank at Clarksville, Tenn., failed with liabilities of $200,000. This precipitated the $400,000 failure of a tobacco house and a run on another bank.
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The Franklin Bank. By common consent and agree. ment on the part of creditors Saturday H. C. Merritt was associated with R. H. Poindexter as receiver to assist in winding up the affairs of Franklin Bank. Mr. Merritt is a good lawyer and a safe counsellor, having considerable experience in such matters, and will render Mr. Poindexter valuable assistance in the complicated affairs of the bank.
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Bank Meetings To-Day. There are a good many people in town to-day attending the bank meetings. The stockholders of the Farmers & Merchants bank met at 11 o'clock and adjourned to 1:30 p m. without transacting any business It is not likely that any definite action will be decided upon until a late hour and perhaps not before to morrow. The creditors of the Franklin Bank were here from various parts of the country. The appointment of H. C. Merritt as receiver in connection with R. H. Poindexter, rather forestalled the action indicated by the publishe call for a meeting of the ereditors to-day. However it was agreed among interested parties on the streets that they would hold a meeting at the court house at 12 o'clock looking to some other action in connection with the affairs of the bank.
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To-day is the anniversary of the Franklin Bank failure and the general panic that made Clarksville look so blue one year ago.
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A SENSATION AT CLARKSVILLE. I Men Connected With the Defunct Bank Charged With Larceny. CLARKSVILLE, Jan. 18.-A real sensation Was caused to-day when it was made public that the grand jury had found true-bills against three of the men connected with the defunct Franklin Bank. Indictments were returned against P. C. Hambaugh, President; R H. Poindexter, Cashier, and George S. Irwin, one of the Directors. There were two counts in the indictment, grand larceny and embezzlement. In the Criminal Court this afternoon they were placed under a bond of $1,000 each and the cases set for trial at the April term of court. P. C. Hambaugh is a wealthy tobacco dealer, & very old man, and about a year ago he had the misfortune of losing his eyesight, this affliction overtaking him soon after the failure of the bank. R. H. Poindexter is possibly not over 26 years of age, and up to the time of the suspension of the bank was one of the youngest cashiers in Tennessee. George S. Irwin left here just after the crash, it is stated, on account of threats and prejudices of tobacco planters and others who lost money in the firm of Kendrick, Pettus & Co., of which he was a member, blameing him for the failure. He only came back here yesterday to answer the serious charges against him, having for some time been connected with the firm of Allen, Lane & Co., cotton factors, of St. Louis. The failure of the Franklin Bank, which was a private institution, occurred last December a year ago, in which nearly $1,000,000 was involved, also causing the failure of three tobacco warehouse firms, viz.: Kendrick, Pettus & Co., for about $40,000, R. H. Walker & Co., for a large amount and Hancock, Hallums & Co. for more than $100,000, forcing the Farmers' & Merchants' National Bank to suspend. But this bank has broken the national bank record, having resumed business for some time. It is said that the main features connected with the Franklin failure have not come to light as yet and both the developments and the result of the trial of the officials will be awaited by the public with great interest. Nearly all the prominent law yers of the Clarksville bar are to be engaged on the side of the defense. A number of the bank's depositors are the prosecutors.