River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1880-11-11

tial explanation was found in the pros
| perity Of certain policy vendors in the
vicinity of the bank The husband OF
| the president WIS b bonanza for the
gamblers 1t was also ascertained that
a messenger passed regularly between
the bank and the policy-shops, carrying
returns and receiving plays.
The first publications concerning this
precious financial institution stirred up
a storm Of indignation among the de-
pesitors, and what appeared very much
like it among the managers of the bank.
Mrs. How and her assistants avoided
print until their silence seemed likely
to interfere with continuance of depos-
| its, when Mrs. Howe condescended to
reply. In letter to the Boston pa
pers she was given space for a alleged
reply that evaded all mutual expla-
nation and was essentially a TRADE OF
invectives against her accusers. "De
positors" flooded the papers with SIM
liar screeds, and even Gail Hamilton
was deluded into writing in defence OF
the concern. The defense availed
nothing, and the persistent ventilation
of what little could be definitely ascer-
tanned at last borne fruit in the collapse
| of the concern.
1t has leaked out that large mum
Der of business men in this city, learn
ing during the past year of the inn
mense interest paid on capital invested,
have raised every dollar within their
power, even mortgaging stocks OF
goods, household furniture and person
al property, and, with the aid of their
female relatives or friends, have
placed all in Mrs. Howe's hands. Their
argument is of the thing only runs
year get back my capital and make
over % per cent. sure, and if 1t runs
two years, / get back two and a half
times as much as | originally put in and
still have my original plant left That's
better than | can do in any business
under the sun" And it is rumored
that if crash comes, many man IN
good standing III business and social
circles will be ruined.
Some of Boston's first families are
interested in the veal or woe of this in
stitution, in sums varying from 81 600
to $4,000 each. 1t is estimated that
the amount of money obtained from
uellOSlUOIS ~ MIS- llVhS NH4
the past three years is fully
81 100000 1t is fact that
on the second day of the late run the
bank paid out to alarmed depositors
the sum of $4,000. The bank has had
on hand, uninvested and lying loose, so
to speak, upward of $4,000 within the
past three months, and, though seri-
ously crippled of late, it is believed
that their resources are ample to carry
them through if the storm Is not too
severe.
Mrs. President Howe, now Il fugitive,
is described as short, fat, pudgy, ugly,
with a disfigured eye and deaf as post,
dressing richly, but without taste, and
using execrable English in speaking
and, writing. Susan Crandall, the
cashier and executive of the "bank, " is
sour-looking maiden of over 80, very
unsocial and gloomy in temperament,
seldom smiling, and worried at the
cross. She first entered the bank two
and a half years ago as a depositor of
$500. Her business Ike manner at
tracted Mrs. Howe's interest. \ young
Englshman named Harvey occupied
the position of porter for the bank, hav-
ing begun as Mrs. Howe's gardener
about a year ago Lamb, who is part
ner in the business firm of which Mrs.
Howe was the financial inspiration, be
gan in her service rs a servant.