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Show A Broken Btink'm Rare Experience. In 1877 the Third National hank of Chicago Chi-cago failed for nearly $1 ,000,000. It had u capital stock of 750,000, and all its cash ou hand, amouuting to $200,000, went to its creditors. J. Irving Pearce was president pres-ident of the fated bank. Huntington W. Jackson was the receiver of the closed institution, and has had the management of its assets since that time. I he stockholders stock-holders were informed that the stock was worthless. Some sold their holdings for a song and others kept what they hud because nobody would buy it. A meeting of those holding stock was held recently, at which the receiver announced that he had been offered fl, 000.000 for real estate near Jackson park, supposed to becomparatively worthless at the time of the wreck of the hank. This sale will be mado unless a higher price is bid, and the money distributed among the stockholders. The defunct bank was also the owner of considerable real estate in the town of Cicero, which could not have been sold then for more than fl50or Pu0 an acre, but is now worth .i.0o0 or $-1,000 an acre, and whicli will swell t he HssetA enormously. If any othor town in tho country has a hank which failed and went out of active existence ex-istence fourteen years ago, hut is worth , more now than it was at the highest tide 1 of its prosperity, let tho facts bo pro-, pro-, duced. Chicago Journal. |
