Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1875-01-27
l0OK COUNHY NATIONAL;
Risssry of the Iastitutlsn.

The Chicago Journal reporter who in
terviewed President Allen, Of the Cook Co.
National Bank, writes ~ follows
He announced himself As holding two
thirds interest In the Cook County; as be.
ing abe to liquidate all claims in full. and
as having been the victim Of unfortunate
combinations since his removal hither.-
dis interests hero we're acquired but ninety
days before the panic; and large loans to
unfortunate real estate, railway and eleya.
tor operators were constant feature of the
fall seasons business. As Is well known,
Mr.. j. Walker negotiateda a loan Of 800,
600 in currency on the day the panic broke
ont in New York.. When the crisis came
under the false belief that nearly all the
banks would close their doors, Mr.. Allen
ordered the suspension Of the Cook County
National Bank, which, however lasted but
one day, since which date business has gone
steadily forward, until the suspension this
morning.
ADVERSE INFLUENCES,
to which Mr.. Allen alluded but mildly
have been deep and relentless. Among
others was the bitter and brutal raid at the
time ofthe Murphy grain corner. Thessma-
lignity Of the attack, however, defeated
itself, and added prestige to the name Of
tho
s sTALwARr IowAN.
Mr.. Allen il generally supposed to be
worth several millions. He holds large
quantities Of m, Insurance and railway
stock, and miscellaneous securities, and haa
about q, 600 acres Of hnd In Iowa, on
which thefs has nsvsf bsen Q mortgage, IN
edition to hls Presideacy Of the Cook Co,
National, hs has private bank q Des
Hoines, u President Of the State National
of tho sams city, and The head Of the housS
Of Allen Stephens b Co., 25 Pine street,
New York. he i also director in the
Chicago Rock Island and Pacific Railway,
President Of the Belt Railway under con.
ssruction around Chicago, and sole propri.
etor Of the gas works at Des Moincs.--
Such are few OF the heavy interests de.
msnding his constant attention.
Tho condition Of the Cook County Ma.
tional cannot this afternoon be stated,-
Bank Examiner Spink will require three
or four days to inform the public Of the
state Of affairs. The parlors were this
morning crowded by petty depositors and
solid men of affairs on tho other-ons snx.
iously inquiring for details, the other ex.
tending heartfelt sympathy to the chief
actor 10 the financial drama.
s HISTORY OF THE BANK.
] The Cook County National was organ.
issd in August 1871, with q capital 81
500. 600. undsr the Prssidsncy OF D. D.
Srsncsr. The loas BY the great 6re few
weeks thereafter was but $1,000 and on
the succeeding now year dividend Of o x
per cent was declared and the capital stock
increased 10 $40o, 900. Soon thereafter the
necessities Of its business CAUSED sn increasa
ofits capital 70 $500 600, tho institution
paying 8 psr can't ssmi-anually. In
june, 1879, Mr.. Allen and Chauncey I
Bowen secured control, causing an
immediato advance OF 8 per cent.
In the stoGk. The capitol VA
then enlarged 70 $750O06 directly
In the face Of the panic
No dividends have been paid
since January l, 1873, and tho capitaI
was last year reduced to $500. 600. The
surplus isnow elO0, 600, SO 600 hsyins
been added TO the business Of is71
The Dirsctore are b. F. Allen, Albert
West, H. @. Mutt, B. +. Murphey, and
Chauncey T. Bowen.
JUSTICE TO THE FALLEN
demands statement OF the fact tha,
for some weeks details OF the condition
ofthe Cook County ct the Ciearina
House have been daily forwarded 'by
. rival banker 10 New York, % b
used thers by those inimical 20 NJ.
Allen and his varied intosssts, Ae-
eepting sueh responsibilities On til