Article Text
Bank Failure. [By telegraph to the Dispatch.) NEW YORK, July 21.-Green's Bank, Jackson, Miss., has failed, and J. L. Power has been appointed receiver. No preferences. The bank claims assets over its liabilities.
Greens Bank (Jackson, MS)
Episode Information
- Episode UID
642461991015- Episode Type
- Suspension β Closure
- Bank Type
- trust
- Bank ID
-
64246199hash - Start Date
- July 21, 1884
- Location
- Jackson, Mississippi (32.299, -90.185)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
6d726116e6224869
Response Measures
None
Description
Bank suspended and placed in receiver July 1884; later settlements made under receiver but no clear full resumption of original bank.
Events (5)
1.
July 21, 1884
Receivership
- Newspaper Excerpt
- Green's Bank, Jackson, Miss., has failed, and J. L. Power has been appointed receiver.
- Source
- newspapers
2.
July 21, 1884
Suspension
- Cause
- Macro News
- Cause Details
- Extreme stringency in the money market and inability to realize on first-class paper/securities.
- Newspaper Excerpt
- This Bank has been forced to suspend for want of ready cash.
- Source
- newspapers
3.
July 26, 1884
Other
- Newspaper Excerpt
- Creditors agree to take six, twelve and eighteen months notes ... A new bank shall be organized ... and may be the agent, through a receiver, for collecting and settling up the affairs of the old bank.
- Source
- newspapers
4.
March 14, 1885
Other
- Newspaper Excerpt
- Green's Bank ... announces that it will be prepared on Monday to pay the first installment of 25 per cent. and interest.
- Source
- newspapers
5.
September 23, 1886
Other
- Newspaper Excerpt
- Green's Bank at Jackson commenced paying the second Receiver's certificates.
- Source
- newspapers
Newspaper Articles (24)
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Greens Bank. Times-Democrat.] In regard to the suspension of Greens Bank, Jackson, Miss., we are informed by a.reliable gentleman in this city, who is well posted concerning the condition of the bank, that its assets are fully $100,000 more than its liabilities, and that the suspension is due entirly to the present strie gency of the money market, and an inabilholds. ity to realize on first-class paper which it
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Greens Bank. The failure of Greens Bank was a surprise and a shock to this community not exceeded by any occurrence which we can now recall. So long had the bank been one of the institutions of the place, and SO cautious and prudent had been its methods, that it had gained the confidence of the citizens to an extent which scarcely be realized; and even now that the bank has closed its doors and its effects have been placed in the hands of a receiver, the confidence of the community in the judgment and the honesty of the owner and officers of the bank is such that most of the depositors believe that the extent of their loss will not be more than temporary inconvenience. Joshua Green, the President and owner of the bank has been a resident of Jackson for little less than 49 years, during which time, until Monday last, he has never failed to meet his financial obligations. The banking business of which Greens Bank is the successor was started in 1848, by Joshua Green and his brother Thomas Green, under the firm name of "J. & T. Green." In 1876 Green's Bank was chartered by the Legislature, Joshua Green and Thomas Green becoming the stockholders. Thomas Green died several years afterwards and Joshua Green became, by purchase, the owner of his brother's stock, so that now he is sole stockholder. W. H. H. Green is the cashier and a salaried officer. The suspension was caused by inability to realize on the securities of the bank, which Mr. Green believes will be ample when the money market shall become a little easier, being, in value $100,000 in excess of liabilities. In addition to the assets of the bank Messrs. W. H. H., and J. J. Green have property estimated by them to be worth $250,000 with which they promise to make good any deficit. We know little of the private man agement of the bank, but from what we do know, and from long knowledge of the gentlemen who have been connected with, it we are prepared, now, to say that it is an honest failure, and we believe that an exhibit of the bank's assets will show that its investments have been carefully and prudently made. All creditors of the bank will fare alike, as, on the application of Mr. Green, (to guard against litigation which would have embarrassed and jeopardized the interest of depoitors had an assignment been made) Col. J. L. Power was appointed receiver by the Chancellor of this District. The receiver is now engaged in making a statement of the assets and liabilities of the bank to be presented to a meeting of the creditors to be held in Representatives Hall on July 26, at 12 M. The great confidence felt by the community in Mr. Green has had no little to do with preventing "a run". on the the Capital State Bank, though that institution was prepared to pay all its depositors, and its officers seemed rather to enjoy the opportunity of showing how solvent it really was. It is fortunate for Jackson and the surrounding country that we have another bank in our midst with large facilities for rendering to the commercial community such assistance as may enable it to get along till the crops begin to move, when it is believed money will not be so tight.
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INSTEAD of the Suspension of Green's Bank at Jackson resulting as anticipated in a tremenduous "run" on the Capitol State bank, the opposite condition of affairs existed, and the Ledger reports "deposits in excess of demands," and says further, "this bank is prepared for any kind of a run that may be made upon it."
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Failure of Green's Bank. Our special dispatches from Jackson give the particulars of the suspension of Green's Bank, at that city, which occurred this morning. Green's Bank was the oldest banking institution in the State, and has never closed its doors on account of panics or monetary depressions that have occurred during its existence. The Bank had a fine reputation in this section. and the news of its suspension is a great surprise. We trust the claim that the Bank's assets are more than sufficient to meet its liabilities, is correct, The appointment of Col. J. L. Power, of the Clarion, ns Receiver, will no doubt prove satisfactory to all parties interested.-[Vicks burg Post.
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SUSPENSION OF GREEN'S BANK. Through Stringency of the Money Market the Bank is Forced to Close. Monday morning the following notice was posted on the door of Green's Bank: To CREDITORS OF GREEN'S BANK-This Bank has been forced to suspend for want of ready cash. It had been promised money on its ample securities, but the extreme stringency in money centres frustrated its plans. It has assets of 100,000 in excess of its debts. This suspension is made in the interest of creditors to prevent sacrifice of assets, so that all Creditors may be paid in full, and Col. J. L. Power has been appointed Receiver to that end. A meeting of the Creditors is called in REPRESENTATIVE HALL, ON JULY, 26, at 12 M., to take such action as they may see proper in the premises, when statements will be ready. JOSHUA GREEN, PRESIDENT. We, the undersigned, have property to the full amount of $250,000, with which we propose to make good any possible deficit in the assets of Green's Bank, so tbat under no possible state of the case can any creditor of the Bank loose anything. J. J. GREEN, W. H. H. GREEN. JACKSON, MISS., July 21st, 1884. The suspension created a great deal of surprise in Jackson, as it doubtless did throughout the country. The bank has always been considered one of the most solid institutions of the kind in the country, and it had the implicit confidence of depositors. It had stood many severe crashes, but has at last, through the stringency of the money market, been forced to temporarily suspend. Nothing but sympathy can be heard on all sides for the unfortunate condition of affairs even among the largest depositors. It is the general impression in Jackson that the bank will be able to pay all depositors dollar for dollar, and will be able in a short time to open its doors and resume business. The officers have been in the bank all day receiving their friends and explaining the condition of things. Mr. W. H. H. Green, cashier of the bank, was seen by a State Ledger reporter, who said that noth ing but the kindest expressions of sympathy had been indulged in by any one. He said that the suspension would only be temporary and that the bank would be able in a short time to square up all balances, as its true assests are at least one hundred thousand dollars in excess of liabilities. As will be seen by the above notice two of Mr. Joshua Green's sons propose to make good any possible deficit from their personal property, which is valued at $250,000. Credible information fixes the liabilities at $256,000 and is not known what proportion of this amount is due depositors. Mr. W. H. H. Green went to New Orleans the latter part of last week to borrow money, but he found the money market so tight that it was impossible to obtain cash with the verv best of security. As the cur-
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.$164,745 09 In addition to the above assets we have on our books notes and accounts which are too doubtful to be counted as good $109,890.11. assets. The amount of these claims is Respectfully submitted, J. L. POWER, Receiver. Jackson, Miss., July 26, 1884. The Receiver stated that he had not deemed it proper, at this stage of the proceedings, to give a detailed list of the creditors-that each one interested, if not already informed, could get a statement of his or her account from the books of the Bank. He also stated that the correspondence of the Bank, since suspension, contained many expressions of sympathy, confidence, and offers of assistance. Mr. W. H, H. Green, Cashier of the Bank, explained the character of many of the assets, and answered all questions to the evident satisfaction of all present. Mr. D.N. Barrows submitted the following PLAN OF ADJUSTMENT. We, the creditors of Greens' Bank, agree to take six, twelve and eighteen months notes, payable sooner if possible, at 6 per cent. interest, for our claims on Greens' Bank, the assets to be held sacred by the new bank to be organized in its place, and collections pushed for the debts, giving the Bank the option, when they eannot collect difficult debts, to take extension notes in payment and in fact to make the best settlement they can. A new bank shall be organized with entirely new capital, under a new charter if necessary, and may be the agent, through a receiver, for collecting and setling up to the affairs of the old bank. The amount collected for the old bank shall not be used in the new business, but shall be applied as to the notes as above stated; that the secured creditors shall exhaust the collaterals in their hands at their discretion, and if short shall accept for the balance on the V same terms as depositors; and if they have a surplus shall turn it over to the receiver or deliver any securities left over to him. m That all the past debts due the old bank cu shall be placed in the hands of attorneys m after sixty days to be pushed for collection, TI unless full guarantee shall be given by the it debtors that payment will be made before January 1st, 1885. co is Resolved, That the statement of liailities and assets presented to this meetwi av ng by Green's Bank, together with thΔplan or resumption, and all other matters conCo ected with the same, be referred to a comth nittee of five consisting of Gen. Wirt Ba dams, J. B, Harris, 0. A. Pardue, W. L ha Tugent, and Wm. W. Tribette, who may it xamine into the value of the assets and pa verything connected with the question and sta ecommend such action as they may think Ba ecessary and for the best interest of all ca arties concerned, and make report by cirfac ular to each person interested who shall rui gnify his acceptance or disapproval of he same. pu 18 1 David Shelton, Esq., offered the folbar wing: pul Resolved, That the committee appointed the foregoing resolution be requested to I port with their plan of proceedings to mo e several creditors, the details of the esp mets on the credit side of the balance lun eet this day placed before the meeting
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# THE COMMITTEE'S PLAN. The committee appointed by the creditors of Green's Bank on Saturday, to look into the affairs of the bank and suggest a plan for resumption, has issued a circular to the creditors which will be found in another column So far as we have been able to ascertain, the plan proposed by this circular meets with the hearty endorsement of the creditors, and we have no doubt will receive almost unanimous approval. The prospect now is that in less than 20 days the bank will be going ahead. What ever objection may be be urged to the proposed plan, (for ourselves we see none,) it must be admitted that it is by far the best thing that could be done under the circumstances, and presents the surest means of realizing for the creditors dollar for dollar of their money. The plan proposed to meet the almost unanimous desire of the creditors that the administration of the assets should be placed in the hands of the Greens themselves, in whom the creditors seem to have unlimited confidence. They are at least satisfied of the fact, that the Greens can get more for them out of the assets than any receiver could possibly do. While the plan suggests the surest means of paying the creditors, it gives the Greens the opportunity of saving something for themselves. The affairs of the creeitors will rest in the hands of men most deeply interested in paying them dollar for dollar. The future financial standing of the Greens will depend entirely upon their carrying out this plan successfully and satisfactorily, and we sincerely believe they will do so more speedily and more economically than any other person or persons possibly could. We are reliably informed that the committee of five who drew the plan of resumption represented $102,000 00 of claims against the bank; this should be an assurance to any reasonable man that they at least would not recommend any scheme, which in thier judgment, was not the very best under the circumstances. The unlimited confidence shown by the home creditors in the Greens will strengthen them abroad, and enable them to at once establish a commercial credit, and confidence which will assist them greatly in carrying out the proposed plan of settlement. After careful investigation the committee does not doubt the ability of Mr. J. J. Green to raise the $180,000, referred to in the circular, and his name on the paper strengthens the chances of the creditors to the extent of $180,000 over and above the $620,000 of assets owned by the bank. As soon as the bank is on its feet doubtless small depositors will be placed at once in an attitude to realize money on all their claims againts the bank, and money matters in the city will be much less stringent. The committee appointed to investigate and report on this matter, are not only among the largest creditors, but are gentlemen of unquestioned integrity and fine business qualifications, who realized tully the resposibility of their position and after careful investigation submit what they believe to be an equitable adjustment of the difficulty, to the creditors of the bank for their acceptance of rejection. Creditors should sign the circular at once and return to General Wirt Adams. - Jackson Ledger.
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A Plan for Settling the Affairs of Green's Bank. Special to the Picayune.) Jackson. Miss., July 26-The creditors of Green's Bank met at the hall of the House of Representatives at 12 o'clock to-day. There were 170 creditors, representing about three-fourths of the indebtedne on account of deposits and loan certificates. The meeting was most harmonious and the best of feeling prevailed. All want the bank to resume at once and take extensions, which they assume. Col. Power made a report of the assets and liabilities, which showed the latter to be $464,225 17, and the good assets $620,050 26-the assets exceeding the liabilities $164,745 The following plan and resolution were adopted with the amendment offered by Mr. David Shelton: "We, the creditors of Green's Bank, agree to take six, twelve and eighteen months' notes, payable sooner if passible at 6 per cent interest for our claims on Green's Bank. The assets to be held sacred by the new bank to be organized in itsplace and collections pushed for the debt, giving the bank the option when they cannot collect difficult debts and take their extension notes in payment, and in fact to make the best settlement they can. A new bank shall be organized with entirely new capital under a new charter if necessary, and may be the agent through a receiver for collecting and settling up the affairs of the old bank. The amount collected for the old bank shall not be used in the new business but shall be applied to the notes as above stated. That the secured creditors shall exhaust the collaterals in their hands at their discretion, and if short shall accept for the balance the same terms as depositors, and if they have a surplus shall turn it over to him. That all the past due notes due the old bank shall be placed in the hands of attorneys, after 60 days, to be pushed for collection unless full guarantee shall be given by the debtors that the payment will be made before Jan. 1, 1885. "Adopted at a meeting of the creditors of Green's Bank, representing-of the liabilities. "Resolved, That the statement of liae bilities and assets presented to the meeting by Green's Bank, together with the plan for resumption and all other matters connected with the same, be referred to a committee of five, consisting of Gen. Wirt Adams, J. B. Harris, C. A. Pardue, W. L. e Nugent and Wm. H. Tribette, who may examine into the question and recommend such action as they may think necessary and for the best interest of all parties concerned and make report by circular to each person enterested, who shall signify his acceptance or disapproval of the same, and that the Chairman be authorized to call a meeting of creditors when the committee is ready to report." Shelton's amendment was: "Resolved, That the committee appointed by the foregoing resolution be requested to report with plan of proceedings to the several creditors the details of all assets on the credit side of the balance sheet this day placed before the meeting dated July 26, 1884, or if they think best have a statement left at Green's Bank for inspection of the creditors or their agents." The committee appointed met at once and resolved that the best plan to work the bank out was to turn it back to the Greens. To this end they are issuing a circular, and as soon as the consent of a majority of the creditors is obtained, of which there is no doubt, the Greens will take possession of the bank and open its doors, which will be good news to all concerned. The good feeling of the creditors was marvelous. Their confidence in the integrity of the Greens. has re.
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CRASHES IN COMMERCE. Bankers and Merchants Who Have Succumbed to the Hard 3 imes. LAMPASAS, TEXAS, July 31.-J. M. Hargrave, banker, has assigned. His liabilities are $40,000; his assets about the same. The creditors are chiefly local. A CARRIAGE MAKER FAILS. ST. LOUIS, July 31.-The principal single liability of Kemple, the carriage maker, who failed to-day, is in the form of notes indorsed by Frederick Vock, another carriage maker, for $24,000. It appears that Kemple's crippled condition has been known to Vock several days, and the knowledge that he was responsible for the payment of these notes so preyed on his mind that he took morphine last night and died to-night. GREEN'S BANK TO RESUME. JACKSON, MISS., July 31.-Two hundred creditors of Green's Bank, representing more than half the entire liabilities, have approved of a plan of adjustment formulated by the committee of creditors. It is believed that nearly all of the creditors will be heard from favorably by Saturday, when steps will be taken for the resumption of the bank. TEA MERCHANTS TAKE OFF THE POT. NEW YORK, July 31.-John C. Caswell & Co., at No. 87 John street, announced their failure at the Tea Exchange to-day. A FURNITURE DEALER ASSIGNS. NEW ORLEANS, July 31.-A special from Columbus, Miss., says: "R. R. Speirs, a large furniture dealer of this place, has made an assignment."
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To Creditors of Greens Bank. AND SECURITIES OF be sold at Public Auction January 15, 1885, in front of the City Hall, Jackson, payable in Receiver's Certificates of Green's Bank. This affords opportunity to persons, who don't care to hord, to realize at once on the certificates. Send for descriptive lists by mail to J. Green, Jackson, Miss. dec.3,'84-2w.
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POPE, COLE & CO.'S CRASH. Baltimere Manufacturing Interests Gloomy Over the Misfortune. BALTIMORE, March 14.-The failure of Pope, Cole & Co. has made a serious impression upon the industrial interests of Baltimore. The copper works gave employment to several hundred operatives, who in a short time may be added to the already large number of idle men in the city, and it is impossible now to predict what will be the outcome. An effort will be made to continue business. Morton Stewart, who has been made trustee, has large business experience, and hope is expressed that he will be able to straighten out the entanglement. Pope, Cole & Co. had large contracts for copper ore at prices not warranted by the present low price of copper, and an adherence to which would have entailed much greater loss. Pope & Cole are understood to have accepted a loan of a large amount Thursday morning, when its meeting of creditors was called later in theday. The liabilities of the firm are said to be considerably above the amount stated yesterday, and may reach $900,000, its indebtedness secured by indorsements and goods pledged having been deducted by parties making the first statement. A number of banks hold paper indorsed by Robert Garrett & Sons, who are believed to be interested to the amount of over $200,000. During the past five years profits amounting to over $500,000 have been divided, the four special partners, who contributed only $100,000, receiving fully $300,000 for their share. Speculation is no doubt the prime cause of the embarrassment, the firm having contracted to take immense quantities of raw copper at a higher price than the refined article has recently been selling at. ASSIGNMENT OF A PUBLISHER. NEW YORK, March 14.-Frank P. Tousey, a publisher at No. 34 North Moore street, filed an assignment for the benefit of his creditors to-day to Stillman R. Walker, giving preferences amounting to about $45,000. Among the preferred creditors was the American News Company for $10,000. Mr. Tousey was formerly in partnership with N. L. Munroe, and afterwards of Tousey & Small, who dissolved in 1878. Since then he has been alone. His statement of July last showed a surplus of $71,724, but about a year ago he was arrested at the instance of Authony Comstock, and about 10,000 copies of immoral books were seized and burned in the presence of the District Attorney. Suit against him was discontinued in consideration of his giving up over two tons of plates to be melted up. This crippled him pecuniarily, and he never recovered fully from the loss. A BROKEN BANK'S FIRST PAYMENT. JACKSON, MISS., March 14.-Green's Bank, which went into the hands of a receiver last July, announces that it will be prepared on Monday to pay the first installment of 25 per cent. and interest, amounting to about $125,000.
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JACKSON, MISS., March 14.-Green's Bank, which went into the hands of a receiver last July, announces that it will be prepared on Monday to pay the first installment of 25 per cent. and interest, amounting to about $125,000.
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SCARCITY OF MONEY. The Greens' Bank Creditors Asked for a Further Extension. JACKSON, MISS., Sept. 16.-The second payment of the Greens' bank certificates fell due to-day, but was not paid. The managers of the bank's affairs say that owing to the scarcity of money they have been unable to negotiate the bank's securities except at a heavy loss, which they would not do. They ask their creditors to grant them further time or have a receiver appointed to take the matter into his hands and realize all that is possible at present for their creditors. It is more than probable that the Greens will be granted further time. Their original debts when the bank failed were $460,000. This amount has been reduced to $214,000, which the Greens claim they can and will pay if given suffleient time.
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Greens' Bank Asks for Further Time or the Appointment of a Receiver. JACKSON, Miss., Sept. 16 -The sec. ond payment of the Greens' bank certificates fell due to-day but were not paid. The managers of the bank's affairs say that owing to the scarcity of money they have been unable to negotiate securities except at a heavy loss, which they would not do. They ask their creditors to grant them further time or have a receiver : p pointed to take matters into his hands and realize all that is possible at present for creditors. It is more than probable the Greens will be granted further time. The original debts, when the bank failed, was $460,000, and has been reduced to $214,000, which the Greens claim they can and will pay, if given sufficient time.
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N PETITION OF JOSHUA GREEN, ET AL. herein filed at this Term of this Court, ask0 ing an extension of time on the notes executed by. them to the Receiver herein, it is ordered that all persons holding Receiver's Certificates of Greens Bank, do appear at Rules to be held at the Clerk's Office of this Court, in the City of Jackson, Mississippi, on the
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N PETITION OF JOSHUA GREEN, ET AL. herein filed at this Term of this Court, ask0 ing an extension of time on the notes executed by them to the Receiver herein, it is ordered that all persons holding Receiver's Certificates of Greens Bank, do appear at Rules to be held at the Clerk's Office of this Court, in the City of Jackson, Mississippi, on the
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To Creditors of Green's Bank. WEARES BUYING THE RECEIVER'S Cerof Green's Bank, 4th installment preferred. As it seems to be pretty well settled that these will be put off three years at six (6) per cent. interest, holders might do well to communicate with us. FIRST NATIONAL BANK, Jackson, Miss. Oct. 21, 1885-4w.]
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To Creditors OI Green's Bank. BUYING THE RECEIVER'S Cerof Green's Bank, 4th installment preferred. As it seems to be pretty well settled that these will be put off three years at six (6) per cent interest, holders might do well to communi cate with us. FIRST NATIONAL BANK, Jackson, Miss. Oct. 21, 1885-4w.]
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To Creditors of Green's Bank. WE tificates BUYING THE RECEIVER'S Cerof Green's Bank, 4th installment preferred. As it seems to be pretty well settled that these will be put off three years at six (6) per cent interest, holders might do well to communicate with us. FIRST NATIONAL BANK, kJackson, Miss, Oct. 21, 1885-4w.)
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To Creditors OI Green's Bank. BUYING THE RECEIVER'S Cerof Green's Bank, 4th installment preferred. As it seems to be pretty well settled that these will be put off three years at six (6) per cent interest, holders might do well to communicate with us. FIRST NATIONAL BANK, LJackson, Miss. Oct. 21, 1885-4w.]
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On last Thursday Green's Bank at Jackson commenced paying the second Receiver's certificates. This payment will cancel between $50,000 and 30,000 of the indebtedness, leaving 100,000 for the third and fourth inI tallments.
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Mr. Joshua Green, an old land mark of Jackson and one of the founders of the well known Green's Bank,died in the Capital City on the 20th inst., of peneumomia, is his 76th year. He was a native of Maryland and came to Jackson over fifty years ago. His sterling worth and upright walks as a citizen, coupled with his great business capacity and indomitable energy, soon caused him to be loved and honored by all classes and creeds. He was public spirited and progressive in all things. and every movement tending to advance and enliven his people. his town and his country found in him a strong and earnest advocate. Green's bank was established in 1847, and till 1884 withstood all the financial crashes of these long years. Forced then to temporary suspend payment, Mr. Green, though nearly three quarters of a century old, went to work with the same came energy which characterized his youth to pay every dollar, and had almost lived to see that done when the death summons came. A number of his sons were associated with him in his business, which will doubtless be carried on as before his death.
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Greens's Bank Certificates. NEW YORK, Sept. 2, 1887. Mr. J. L. Power, Receiver, Jackson. Miss.: Der SIR-When an extension of time was last asked on Green's Bank's debt, we had no doubt whatever that the payments would thereafter be promptly met, but the 3d installment becomes due September 16, and our efforts to provide for it have been unsuccessful so far. I endorsed the notes to the Receiver on the faith of certificates of stock in the American Cotton Oil Trust, which I believed would rapidly advance in value, and enable me to make up any deficiency in the bank's collections at the maturity of the notes, and for a time was not disappointed. The Trust stock did rise to 71 cents last winter, and as assistance was needed I bor rowed money on the stock as collateral. In this way I borrowed $176,500.00, of which the depositors received about $130,000, the Union National Bank of New Orleans $,6500, and the Hanover National Bank, of New York, aboat $40,000. But in February a raid was commenced on Trust stock by Wall street bears, and it has been steadily declining, until now it is quoted at 29 cents. This raid succeeded in the face of what all interested consider a very favorable report by the trustees in July. My stock was all pledged for these loans, and is out of my control. Hence I am unable to meet the September payment. In paying the Hanover Bank's debt I released the collaterals it held from Green's Bank, and they are now bank assets, and we consider them alone worth nearly the entire amount of the balance due. They are nearly all more or less complicated in the courts, but with a little time we expect to have them in shape to convert into money. When it suspended Green's bank owed about $460,000. Since then it has paid in cash and in debts due it about $379,000, with six per cent. interest, leaving a balance of some $84,000 yet due to depositors. So, while there are two payments r, yet due, which are nominally $115,000 each, or $230,000 in all, there are actually only about $84,000 of certificates outstanding, and no other debts. That is, the bank has 1, so far paid about 81 per cent. of its debts with six per cent. interest, and it has assets which we believe can soon be made to pay the balance; and with the indulgence of its creditors we hope to pay all that balance d before the last payment is due. The creditors cannot be more disappoint SS ed than I am at the necessity for further ed delay, but we believe we have done our best and in the face of some very hard luck. J. J. GREEN. Respectfully,