, 1875-05-29

take tho State Hhvugs mud give up the Cook
County 1'ant. Looked the whoia thing over
and seen 1t looked veil. and that could get II
on faror1tle terms. To make lang story short,
hars bonglt e275,1oo Of tho stock. y
Tie capital Is 35j0.oo,. deposits about
Il 100000 tho assets ali g1aran-
toed to mo. l got it 70 The pay7nents !
do not entarrpas me-, md Il iriN help me 10 |
eoork out Ae Ixcctcsr MATER. Three Of my
Directors arc Directors and stockholders In the
State Savings Bank, tho oldest tn tho citr, I
think. Tlleir deposits arc oror e4.C00, 600, sn No
ate to work togcthor, and by 30 doing ara about
~ strong AZ my combination In Chicago. Dy
proper management, e1pect to be ntie 10 mn
h'iany hefp myseiT 20 as not to 10 under the
noceseisy Of having to borrow ~ 1 hare been
for the laat year II got utterly dlsgusfed trying
TO eorro,o}. l can MAKE some uascts
ardita]ie R.at haze teet, unable 10 mate Of any
use IN paying deJts."
TIE iRtCinCa CONFUSION AHALfzED.
very f.hEk and c.ndld nlemortnIum THE.
&ud ono Which, II published to an incrcduiops
world sor1o time ago. might haro shod alto
gesher IN unexpected light uron tho operations
Of tue "1oxa banker"
reward analysis.
~ HAtSl AItAs hHN kuEIPluE1 CAIEleh9 El{IlC IL
might haye occurred tiiat, in such hidc.bound
MONETARY condition - Alien Represented his to
be OH tho 24tl Of May, Ui:L mo arnIl,bio stan,
not even cortwood.'' III his pocket, and an itn-
lnciso obligation to meet. which he had in"ffcct-
M1lly endp1yored to stayo on, tho n1us. recAtesa
:inancier would think twice before Jumping lilo
3 rIsw aud unknown enterprise.
To such alslIow objections Nr. Alien thus re-
so.ts:
III uia hflp me 10 ,oork on: he Feccirer mat
~. BY ryoper management i e1pect 10
4s abe II materially heir n'yse!C can
a5ie 10 make Of at'y use in paying debts"
Which Ii Rt 1eAet one way OF accounting Tor
THE MILE IN THE cOcoASCT.
But how Was Allen to hug <215.Uo0 worth Of
htock 10 nou entcrrrise "hep he was absolutely
lnoueyloss. though o.crioaaea uith usaIoss and
"unaraltab!s assots':
It is truo that about tho rrecxs dotaila Of the
transaction ho haa anteFea nothing in hIH clron-
icie., but ciork in the Cook County Bank has
vcnlurcd to describe tl,ia most remarkable
financial operation Of modern ti1noe.
Instead Of buy1ng S275,000 worth Of stock.
| Allen only purchased slAscn 10 the amount Of
s2H5. .1J0. and for this 10 paid in his own per-
in rhirfl he hal no money.
Just tnko trcath, aud comprehend thia unpro-
ccdantcd
"srnA1Ro1a APPROACH" TO TUE 41,3oo, 900 IN
ont Of which Alien confessed hia deliberate In
| ten.inu to Ina aseFlaiar help hinsalf."
| II brown were 70 propose TO Smith that IL
should gro to Smith for 6tuiths ehar8 i'll a car
sa.u corn-iicld Owned by Smith, urotn, J1net.
| aud Robinson, no more satisfactory confederation
than promise OF part Of thn uho!e joint ero;,.
! in Which G1tnn. Jones, and Robinson had III
unconsit!ercd interest, hs would do exactly what
Alien did.
Tha chances are tint Brown would b kicked
OF his pscn,ihes hy tho rnust placab1o OF Smiths
Allen. however. With nothing more fRtibfac
tori, to Lin depos,oru ut least. shA14 promise tt
pay for luis privilege out Of 1hor sArings, abso
| lutcly acquired possession af tho bank. and. wha
is ntill lcsa credible, u1aae Liza worthless check
for 4 long time. do duty for e9i5 100 worth 81
lrgai-tcnder when tho Bank Examiner acrutnlzct
tho cssotte Q! tho Couk County Bank.
The te1,ostora Of tho Cook County Bank arc
l should suppose. not rery likely to hars thc1l
aHection for Allen intensified. b! this asposny,
OF tho f1ci1e manner IN which be managed to gC
at their nouey+ Tho dsvice wao.oby le obtai
the rnexn4 of materially helniny himself il CO.,
tain1y simple enough.--&lcost, indaed, 10 III
point Of unbeltef.
THE KrT7cAc1ous CHECK
for 1886, 600 which. worthless aa It was. WAS th
.opon actame Of Nrothor Allen, ore Nr. Dob
ldnr. : feilow-Drector Ill The bAnk. naw inclutns
among its nstots and Allen himself altudos to tn
| transaction iu meu>crAntum dated tho ehth .
June. which speaks Of my check for S26j. 10
living In the bank.
Tint he should buy tho control Of tho instsu
tiou BY paying for it out Ut its depoaitors' pock
ets, uila that 10 should bt Aho to replace thu
$2G5, 900 thuA abstrActed with bit Of printe
and autoezaphio Euattor worth lcsa on IN ss
I trayaYont estimate, than i cents, would hav
spoken volumes Of prediction for tho banks III
| tEro II oulY the fActA hAd been - vocal At tt
TINA as they are nowadays.