, 1873-11-01
THE FRANKLIN BANK,
Tho Examination Of Its Officers
Discontinued.
United States Marshal Campbell In Fos-
scsalon Of tito Institution.
How the School Teachers Came to
Deposit Their Earnings with
Mr. Briggs.


Mr. Briggs.
An order WAS made daY or so ngo for the OK
animation Of Mosars. Briggs and Eddy, tho Vice
President and Cashior Of tho Franklin Bank, bo-
fore Neglssor Hibbard. ut 10 o'clock yesterday
morning. At that hour numbers Of creditors
wero Oh hand with tho punctuality that distin-
guiRhes thcm aboye all men. They divided up
into little groups, clustering around their attor-
noya like bees around thor queen. Tho negia-
tor got tho floor md stated TINT uudor tho cir
cumBtances ho saw no necessity for tho proposed
examination. Tho Bank lad OH the preceding
day boen declared bankrupt, and the Marshal
ordered to take possession Of the asBots, which
ho had donc. If that officer had mot with any
obstruction In tho performance Of TINT duty, 1t
might he proper to cali upon theae magnates Of
the Bunk, but as tho case stood nothing would
bo gained by the contemplated examination, OK
cept to Immediately crafty
THE ouR1oB1TY or TIE CREDITORS
and to spend money. It would simply be an OK
peuditure Of money without any real benefit to
the creditors. The Register would got e50 or
go, and tho attorneys would get thoir foes. all
out OF tho estato Of tho bankrupt. December l,
- later day tAan was nccoasary,-the Assignee
formation could DO obtained.
This Wow Of tho caso did not please tho cred-
itors, who "wanted to know" and they waggod
their heads, and buzzed, and whispered. Tho
Register anid ho would not inHist on tho matter.
II they chose, they could
SEE JUDGE Brop8ETT,
and whatover he thought proper, that tho Regis:
Ter would do. Accordingly, they all rushed into
the Judges room and tho attorneys stated
that it was the desire Of tho creditors to learn
something. . praiaeworthy desire which should
matters which would require Immediate action.
Creditors OF the bank might hold collatorals,
which they would sacrifice. The Judge, IN re-
ply, took about the same Wow as the Register
he did not SEQ the use OF any examination, and
did not feel inclined to ordor one, except on
atldRNts showing Cause.
THE MARSHAL WAS m PossEss1oN,
and would Boon mako an inventory Of the assets.
AS far as oollaterals and such things wore con-
cernod, any creditor dlBposing Of tham did 80 at
his peril and the Assigneefcould set nsido the
Hale, il he saw 0t. The bankrupt was praoti-
ralty dead, and any person meddng In any way
with Its assets vas IN administrator In Ills own
wrong The examination would simply he an
expense, without corresponding benefit. There
fore ho should approve Of the action Of tho Reg
ister. Theren1pon the creditors departed, sad
Outside OF political matters the condition Of
tho affairs Of the Franklin Bank is one Of tho
most universally interesting topics Of tho day.
Quito number Of homes in different parts Of
tho city have an interest In
49,, THE STATUS OF THIS INSTITUTION,
varying in value from 81 up to 81, 900 and
more TnIBuSE reporter, anxious to got re-
liable infornfhtion upon tho subject called ut
tho head Office Of tho bank, southwest cornor Of
Madison and Dearborn streets. The first face
which mot his view here WAS that Of wise old
Benjamin franklin. hung mp outside tho building
rs au inducement to persons passing to enter
and lay up store for rainy day, inst as lager
beer ealoon-kcepers coax their patrons to enter
by displaying tue jolly face and abnor1nntly de-
yelopod abdomen Of alager-drinlzipg Ganbrinus.
ly, "u drink lager shall become as fat, cosy,
and comfortable % the Jolly Gambriuus;" In
the former, - All have to do to become d Benz
5amin Franklin is to deposit my npare caah in
Ia drank,
TIE DEPOSIT IS MADE,
and Of the tive the investor in soipp's gets the
hess Of it. The energetic way in Which tho
holdor. Many viii remember tho old
man who stood outside the patent hey
presto naturalization Office, ybioh is presided
paseer-by Rmall monorandum-bo with ro-
duced copy Of tho Franklin sign on one side,
and collection OF wise sawa md modern iu-
STANCES on tho other, the inside of the cover be-
ing devoted to setting forth the peculiar virtues
OF the rising young banking-houso. One class Of
people who suffer very generally from tho fail
u1o Of this bank to pay itB liabilities, is
THAT OF Bcu0oLrTEACnEnH.
Mr. Briggs was himself echool-teacber, but
gave up the business and took to banking
ahortly after having beaten one Of the acholars.
Unfortunately his predictions for "beating !"
survived the warning which his dismissal
from scholastic duties ought to have
given him, and Home Of his former
co-workers complain that he has beaten
them out OF sums Of money varying from $500
up to $700, and even $500. Whether or not
THE FRANKLIN BANKER
played upon the sympathies Of his former col
leagues, or whether they placed their hard
earned eavinga unsolicited in his hands, ia not
KNOWN but 1t la fact that he was most attentive
to them In the way Of sending circulars, etc.,
showing how the dollar Of to-day becomes by
putting 1t where it ill do the most good, e.. In
the franklin Bank, the $40 OF next month, the
800 Of next year, the S1, 900 Of five years from
the date Of tho frat deposit, and finally the nice
round aum which one can, 1t middle age, retire
upon and enjoy. These circulars had their effect.
"Mn. DR1aas BANK"
was sought out, md now a large percentage Of
teachorR in this city rush for THE TnIDUNE every
morning to 500 how tho franklin Bank Ia going
ITO come out" When this knowledge can be
laid before the public eye, is matter which lies
IN the hands Of the courts Of bankruptcy
THE EXPOSITION.