Bank scandal surrounds Dwiggins as funds vanish
Rumors claim Columbia National Bank of Chicago officers looted deposits. President Dwiggins allegedly borrowed over $400,000 without adequate security, with outside speculation blamed for losses. Government examiners expect arrests as the collapse prompts probes and potential indictments.
MENTIONED IN THIS ARTICLE
Dwiggins
Farinus
Ivis
Tere
Curmnacy
Dwigelns
Financial situation discussed by Western bank officials
Mee Mail of the Western failures reports mixed views from George G. Williams president of the Clearing House Committee and Chemical Bank. He says little must be blamed on current conditions and that recent bank losses show grounds for confidence. He notes enormous but quickly taken losses and argues the contrast with London shows resilience in U S and U K finance.
MENTIONED IN THIS ARTICLE
Ailures
New York
George G. Williams
Clearing Hine Committee
Hank
London
Eng
United States
Paris in port and German squadron depart New York
May 13 reports the Paris steamer from New York reaching Southampton at 4 15 PM with passengers dispersed to London and awaiting further forwarding. Also noted is the German squadron leaving New York, with the Augusta and See Adler sailing in line while a farewell to Admiral Day occurred before river departure.
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Campania
London
Park
Boathampton Loxpos
Paris
Boodle
New York
South Campton
Lisard
Pania
Cunard Line
Liverpool
Hook
Southempton
Hadsa
Ruiserio Augusta
Admiral Day
Creditors Negotiate as Bing & Co Assets Fall
Liabilities listed at 304,119 with assets about 175,000 as creditors meet at Metropolitan Hotel Blumenstell and Hirsch on behalf of assignees. No settlement offered but a committee to investigate a fair compromise proposed. Also note grain firm Kendall & Smith fails with mortgages near 200,000 and local banks as major creditors. Receiver sought for Pittsburg and Western Melibasrd and Pittsburgh Paineshire lines over land dispute. New York weekly bank statement shows deposits up 349,000 with excess reserves 17,745,025 under 4 percent rule.
MENTIONED IN THIS ARTICLE
Otter & Compromian
New Yous
A H. Bing & Co. Wrethiers
Metropolitan Hotel
Blumenstell & Hirsch
Luxeon
Kendall & Smith
Antof
New York
Is the Herald Mortgaged A Startling Rumor
A New York morning paper reports rumors that James Gordon Bennett is no longer sole proprietor of the Herald. It cites absence of his name on the editorial page, claims of a large loan from John W Mackay of California, and a mortgage on the Bennett plant tied to the Mackay Bennett cable and European editions. Bennett traveled to Europe last week, with city editor W A Reich accompanying him.
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James Gordon Hennett
John W. Mackay
California
Bonsera Ktog
Mr. Bennett
Abe Bernichi
Joan
Ltan
Enver Losade
Mackay-Bennett
Bennett
Sutton Postmaster Quit After Cleveland Effigy Incident
Congress approved postmaster changes in West Virginia after Amos Bright of Sutton burned a Cleveland effigy following the 1888 election. Pendleton pressed for Bright removal. W.S. P. Carper appointed Sutton postmaster. New postmasters named in several counties, with various replacements and resignations. The President also announced multiple consular appointments abroad and new consul generals and agents in Cairo, Winnipeg, Stuttgart, and other posts.
MENTIONED IN THIS ARTICLE
Cleveland
Sam
Virginia
Sunday Register
Washington
Congressman Pendleton
Post Office Department
Amos Bright
Sutton
Braxton County
Bright
Pendleton
Maxwell
W.S. P. Carper
Bisstead
Carper
West Virginia
Elm Grove
Ohio County
W. T. Chambers
BR. M. Daugherty
Farm
Kanawha County
D. C
United States
Cairo
Irving B. Richmas
Jaws
St. Gall
Edgar T. Givens
Arkansas
Winnipeg
Alfred Johnson
Pensylvania
Stuttgart
Charles of Wohsley,Jr
Delaware
St. Evienne
Wendell C. Warner
New York
Yunstall
Anthony Howell
Democratic leaders seek bipartisanship on money policy
From Wasumeton on May 13 the Star reports Democratic leaders in Congress and the Administration aim to avoid a party split over money matters. They expect an agreement on the silver question and a repeal of the Sherman law, with plans for bank currency reform and tax changes to unify action in the next Congress.
MENTIONED IN THIS ARTICLE
Congress
Wasumeton
D. C
Green goods crime and murder charge in Brooxbury
George Phillips a green goods trader was shot in Brooxbury New York on May 18 by Joseph Hull from Steelton Pa who sought 10000 counterfeit money. The shooting echoes the Davis-Holland banco case with Phillips wounded in the groin and Hull fleeing with the money. The two brothers are jailed while Wagner remains at large.
MENTIONED IN THIS ARTICLE
Brooxury
N.Y
George Philips
Joseph Hull
Steelton
Davis-Holland Banco
New York
Joseph Hall
Robert
Phillips
Wagner
Elizsbeth
Greenpoint
Joseph
Hall
Meer
World’s Fair Attendance Rises Amid Sunday Debate
Chicago reports a brisk opening day with 40 000 to 60 000 visitors amid dull morning weather. Schoolchildren flocked to Jackson Park as attendance at the World’s Columbian Exposition surpasses Philadelphia’s Centennial in early days. National Commissioners held a session on Sunday openings, with Burton seeking committee referral after a report from local directors.
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Charles W. Clingman
South Park
Cutcago
Jackson Park
Philadelphia
Bureau of Admissions
Edmonds
Higginbotham
Burton
Tomittee
Poe
First Railway Relics Gathered for Chicago Exposition
Maj. J. G. Panghore, U S Honorary Commissioner, leaves Baltimore with a vast collection of early railroad artifacts for Chicago. The set includes European and American pieces, such as autographic letters, drawings, and the spade and pick used by Charles Carroll at the Baltimore and Ohio road cornerstone on July 4, 185? marking the continent’s railroad history begin.
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Baltivore
J. G. Panghore
United States
Baltimore
O'Dell
Chicago
Europe
Charles Carroll
Carrollton
Baltimore and Ohio
Infanta Eulalia May Not Visit Chicago Weather Too Severe
Washington May 13 There is base no possibility that the Princess Infanta Eulalia of Spain will not visit the United States for the World's Columbian Exposition. She has started toward Havana and may continue as planned though health concerns loom. Secretary Gresham and Spanish Minister Muruaqa discussed her delicate constitution and the need to avoid undue exertion. The princess recalls Pyrenean baths for health care and fears of severe weather at Chicago.
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Chicago
Washington
Infanta Eulalia
Spain
United States
Havana
Gresham
Senor Muruaga
Senor Murunga
Pyreenes
Smuggling Flourishes Across Maine Border
A revenue officer notes scores of men in Eastern Maine live off smuggling while hundreds of farmers evade customs on produce. Merchants and speculators trade in contraband goods as wagons cross the border nightly via the Great Houston turnpike. Deputy Sprague says border coverage is thin and smugglers operate despite few captures.
MENTIONED IN THIS ARTICLE
Maine
Yeukens Haal
Baxcor
Great Houston Turnpike
G. M. B. Sprague
Vanceboro
Houston
Houlton Turnpike
New York
German Reichstag Polls and Social Democrats Lead
German political scene shows the Social Democracy with 142 candidates in the Reichstag race, aiming for about 55 seats, while other parties struggle amid unreliable data. Berlin campaigns reveal Catholic votes wavering and a cautious forecast for October elections as parties test districts and prepare for possible second ballots.
MENTIONED IN THIS ARTICLE
Bertra
Social Democracy
Reichstag
Peror
Berlin
Altho
Trom
Lieber
Hii
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