9010081891213 901008189
hash
e7f891b524092d30None
Click image to open full size in new tab
Bank Failure. Montgomery, Ala.. Jan. 26.-The Josiah Morris Bank, one of the oldest private banking institutions in the state, closed its doors this morning. Assets and liabilities are not known. The capital stock was $100,000. The deposits are believed to be heavy. Inability to make quick realization on cash and shrinkage of assets were reasons assigned by the bank officials for closing their doors. Large crowds assembled around the bank and much excitement prevailed.
Click image to open full size in new tab
ALABAMA BANK FAILS. Montgomery Institution Closes, Causing Excitement. Montgomery, Ala., Jan. 26.-The Josiah Morris bank, one of the oldest private banking institutions in Alabama, did not open its doors for business this morning. The capital stock of the bank is $100,000. Deposits are believed to be heavy. The assets and liabilities are not yet known. At the hour of opening an announcement was posted on the door to the effect that yesterday some of the bank's checks in New York, for which provision has been made, were temporarily refused by its correspondents, though they were afterwards paid. Inquiries followed, which created apprehension, and it was thought best by the bank, in justice to creditors, to suspend payment. The announcement further stated that this condition of affairs had arisen from inability to make quick realization and from shrinkage of assets. Large crowds assembled around the bank today and much excitement prevailed.
Click image to open full size in new tab
BANK SUSPENDS. It Is Hoped the Assets Will Pay the Creditors in Full, (By Associated Press.) MONTGOMERY, ALA., Jan. 26.-The Josiah Morris Bank failed to open its doors for business to-day. The capital stock of the bank is $300,000. Deposits are believed to be heavy. The assets and liabilities are not yet known. At the hour of opening the following announcement was posted on the door: "Yesterday some of our checks in New York, for which we had provision, were temporarily refused by our correspondents; they were afterwards paid. The information came to us late after the close of banking hours. Since then a number of inquiries have been made, and the apprehension created convinces us that in justice to creditors we ought to
Click image to open full size in new tab
THE BANK MAY NOW REOPIN. And Continue Business Under a New Maragement, it is Believed. (By the Associated Press.) Montgomery, Ala., Jan. 28.-At a meeting today of the depositors of the Josiah Morris Bank which suspended Saturday, a committee was appointed to examine into the condition of the bank and report tomorrow. The opinion seems to prevail that the bank will be allowed to open and continue business under it new management. It is ow believed the assets are about 2.000.000 with liabilities between $800,000 and $900,000.
Click image to open full size in new tab
BANK MAY RE-OPEN. Assets Believed to Exceed the Liabilities. (By Associated Press.) MONTGOMERY, ALA., Jan. 28.-At a meeting to-day of depositors of the Josiah Morris Bank, which suspended Saturday, a committee was appointed to examine into the condition of the bank and report to-morrow. The opinion seems to prevail that the bank will be allowed to open up under a new management. It is now believed the assets are about $2,000,000, with liabilities between $800,000 and $900,000.
Click image to open full size in new tab
MAY PAY UP IN FULL. Creditors' Committee on Morris Bank So Reports. Montgomery. Ala., Jan. 29.-The Committee of Creditors of the Josiah Morris Bank, which suspended last Saturday, reported to-day that an invest.gation of the bank's affairs showed the total assets to be $1,506,841, and liabilities $1,325,233. The bank has $23,000 cash on hand, with ash due from other banks, amounting to $19,521. Most of the securities are in New York banks. The committee urges creditors to agree to accept pay in the followng manner: 12Β½ per cent. July 1; 12Β½ per cent., Dec. 1 of this year; 25 per cent., July 1, 1902; 25 per cent., Jan. 1, 1903, and 25 per cent., July 1, 1903. The report was referred to the Committee of Creditors for further consideration.
Click image to open full size in new tab
Bank May Reopen. Montgomery, Ala.. Special.-At & meeting ofdepositorsof the Josiah Morris Bank which suspended Saturday, a committee was appointed to examine into the condition of the bank and renont. The opinion seems to prevail that the bank will be allowed to open and continue business under a new management. It is now believed the assets are about $2,000,000 with liabilities, between $800,000 and $900,000.
Click image to open full size in new tab
The Bauk Failure at Montgomery Montgomery, Ala., January 28.-At a meeting today of depositors of the Josiah Morris bank, which suspended Saturday, a committee was appointed to examine into the condition of the bank and report tomorrow. The opinion seems to prevail that the bank will be allowed to open and continue business under a new management. It is now believed the assets are about $2.000,000 with liabilities between $800,000 and $900,000.
Click image to open full size in new tab
TO EXAMINE THE BANK'S CONDITION. Montgomery, Ala., January 28.-At a meeting to-day of dep sitors of the Josiah Morris Bank. which suspended Saturday, a committee was appointed to examine into the condition of the bank and report to-morrow. The opinion seems to prevail that the.bank will be allowed to open and continue business under a new management. It is now believed the assets are about $2,000,000 with liabilities between $800,000 and $900,000.
Click image to open full size in new tab
JOSIAH MORRIS BANK Will Open Its Doors Today, After Three Months' Suspension. Montgomery, April 29.--(Special.)-The Josiah Morris bank will open its doors for business tomorrow morning. The bank has been closed for nearly three months pending arrangements with the creditors for a settlement. Under the agreement the bank will make five seiniannual payments before liquidating.
Click image to open full size in new tab
TRUSTEE SI Takes Charge of Affairs of Billion W it MEET CREDITORS EHE assets are $1,455,588.66 and Liabilities $705,368.04. Matter of Defunct Josish Morris Bank is to Be Adjusted But Creditors surit 100 IIIM Returns. At a meeting at 10 o'clock yesterday -118 W J 10 creditors the JO ing. proprietor of the Josiah Morris Bank. which closed in January, 1901, kq bankrupt B persphipe SBM ΠΎΡΠΌ put Pettun eur JO seuor 'D Thomas expn tates Court several weeks ago, Henry Davidson, the well known real estate and insurance man, was elected trustee nd the creditors received a schedule howing that Mr. Billing's assets are 1,455,588.66 and his liabilities $705.04. 89 The assets consist largely of notes, verdrafts. stocks in obscure companies racts of land and personal property 10 clalms the mainthy 0.18 eq, epositors in the bank. At the bankuptcy court it was estimated that the reditors woull receive but a small per ent of their claims upon final adjustnent of the estate. About 125 creditors of the defunct ank attended the meeting either in erson or were represented by counsel. JO oTee the up held SEM meeting eu, Bank up Referee Stratton a V e2pn uptcy for the United States Court. Mr. filling was not present. He was repesented by his attorney. Ray Rushton. A Voluminous Document. Since Judge Jones adjudged Mr. BilB JO petition the uo bankrupt B zu umber of his Montgomery creditors, Ir. Rushton, as attorney for Mr. Bilschedule B up pey has 'Su bank the JO 1 pus assets the is a voluminous document, covering. erhaps, 100 typewritten pages. Every ΠΈΠΌΠΎΡ 108 8] 11 pue assets JO we pue creditors the 10 [usnued the 10 Sujos u; house OM1 emos peursuco Aeu ver the document and in proving the umerous claims which were attached S oxhibite The schedule of assets and liabilities Mr. Billing as presented to the reditors yesterday represents his nancial condition at this time When -'IS than ΡΠΎΠ»Π΅ peMo 41 Failer Hueq eu 00,000. For some time Mr. Billing, by onsent of the creditors, continued the FIVE OM1 pue y him. Other creditors We y collateral which they h " ene Peonded The schedule of liabilities Ir. Billing owes $2,411.43 :sexe) pus Ajuno reditors holding securities: or checks issued to various ew York banks which were 16,730.65 to various banks; you depositors holding interes ertificates: $428,596.89 to regular deoum creditors 07 $22696484 uo recoverd a -se Allope our 4q services -es pus notes up 1011 Iscounted which the schedule says pus malkers the sq pied eq 07 1480 0,705.21 in accommodation paper. Shedule of Assets. "ing his assets Mr. Billing extate Tax pus puu, personal property -101 se POPLAID '0 the receber JO sp JO "1119 's nissory notes, $458.ch and five suits of :ht family portraits, of Montgomery Trade euo safe, uos, euo :09 check euo case, Sujjy "oun 095 challs P # steese 10 schedule e Continuing shown that the following property owned: Debts due on open acunt, $228, 457.26; 7,500 shares of stock the Moulton Valley on Company, the up stools 10 shares 1-1 28 :000's outhern Exposition Company, $375; 15 ares of stock in the Birmingham Real state Association, $75,000: 100 shares stock in the Wetumpka Bridge Comup stock 10 shares 089'T :000'0T$ 'Au e Montgomery Light Company, $158,Alabama the us Moors JO shares 001 :0 puobes 24 :000'0T$ Company, 1010 ortgage bonds of the Montgomery ght and Water Power Company, $37.0; 20 shares of stock In the East BirIngham Land and Realty Company, Com- the up stock JO shares 29 :000' ercial Fire Insurance Company, $6,200: liquidated claims of every nature Inuding judgment against Van Kirk and and Construction Company for 3,371.10. another judgment against the me concern for $13,941.80 and two -up MIN UBA T 'M isujese vidually, for approximately $10,000; aim against W. T. Smith for proceeds Shitth L 'M the 10 stock jo sale imber Company, $50,000; award of eorge F Moore, as arbitrator against natius Pollak, and judgment thereon r $12,500: Whitney National Bank of . Orleans, $13.13; First National -UN Month $14.66 JO Hut onal Bank of Columbus, Ga., $27. This 10 18201 B ales The recapitulation of assets shows follows: Securities and claims. $ 8018 accounts 0281980 7.10; lands and real estate, $62.195. aking a grand total of $1,455,588.66. the 10 emos The county of Montgomery and the ty of Montgomery were among the rgest creditors of the bank. The unty has secured a judgment against treasurer 811 10 puoq the uo Aleans a #41 up spunj 411 ΡΠ΅Ρ oum Cochran T The Tallure sap 10 thin the 18 Mu ty Council last Monday night directed e City Attorney to begin action rainst R H. Somerville who was City easurer at the time of the failure recover the money lost. Among the other depositors who had the 18 bank the up 000'01$ than ejo the Grea Januare JO me buisville and Nashville Railroad Comny, $40,515.97 John P. Kohn, Montmery. $12,061.10 J. N. Hall, Montmery, $7,127.87; R. L. Todd, Mont mery, $10,313.21: J. M. Reynolds, ontgomery, $11,250 G. W. Paine, Suf. Abbbtr W H pus 000'6$ "BA "MI reasurer of the Western Railway of labama, $10,853.65 The schedule ows a large list of small depositors. ost of them residing in Montgomery. Among the iargest debtors to the pue Jallure the JO thing the 18 Mut hose paper was held as security were H. Clisby & Co., $37,200: Sistrunk &