River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1880-11-11
HOW WOMEN RAN 4 BANK.
Paying I23 Per cent. Annual Interest
and Making It's President Hich---
Fantastic Tricks Played with all
Monetary Naxims.
New York Star.


The failure of the Boston Ladies'
Deposit Bank has already been noted
bv telegraph. but detailed histroy o.
the remarkable fraud will be found in
teresting to general readers The les,
sons in finance taught, the career o.
the bank and of the women who found
ed it makes n record that almost
equals the South Sea Island bubble.
In January last the attention of q
reporter of the Herald was called to the
unpretentious house in Garland street
by the following poster.
REGULATIONS.
The Ladies Deposit is charitable institution fol
single ladies, old and young.
No deposit received for less than $500 nor more
than 81 900 Interest at the rate of IS on Sl0t
per month is paid every three months, in advance
The principal can be withdrawn upon call any day
except Sunday.
No deposits received FROM persons owning
house,
Office hours from a. NJ. to ) p. m. daily
II. l.. Howe" was inscribed on the
door-plate, and no other sign was borne
by the building. Within, at a drop
leaf desk, the scribe found women Of
80, who stood guard over a tin cash box
and what looked like Il pile Of grocer's
cash books. During this visit two Gus
toners of the deposit entered, and
on presentation of their pass books
were paid varying sums of interest. A
depositor also entered, and in return
for $500 deposited by her received SIS
advance interest and promissory note
for 5000.
The notoriety given to the concern
had the effect of increasing the num-
Der of depositors to such an extent that
the doors were actually beseiged by de-
positors during the hours designated
for business. About six months ago
Mrs. Howe, the president, purchased
for $4,000 one Of the handsomest es-
tates at the South End, in fashionable
quarter, nearly opposite the st. James
Hotel. She spent somebody's money
most lavishly in building a fine conser-
vatory, stocking it with rare plants and
flowers, tropical and singing birds, and
articles of vertu besides tearing out
much of the interior woodwork Of the
house itself, and substituting therefor
expensive panels and mouldings.
On Thursday, Sept. 30, number of
the more cautious investors removed
their deposits in spite of the threat that
hereafter they would be cut off from
all privileges which this company offers
to its patrons On Friday morning be-
fore 8 o'clock, the opening hour, a num-
Der of women had gathered i'll front OF
the house on East Brooklyn street, and
awaited anxiously the opening of the
doors. This was but the advance guard
of the army that was to follow. From
that hour until II o'clock, when the
bank was closed for an hour, there was
such Il throng besieging the place that
even the rcdoubtable Mrs. Howe was
compelled to retire to her private apart
ments, leaving the apartments in charge
of her trusty aids, Misses Gould and
Crandall While the majority of those
who besieged its doors were there &c
draw interest and withdraw their mon
ey, and thousands of dollars We're re.
moved in this way, large minority
were making deposits, and it is ques
ton whether there was not as much
money deposited as there was with
drawn
The woman, Mrs. Sarah +. Howe
who calls herself the president of this
''bank," was born nearly sixty year:
ago in the city of Providence, r. /
Her mother, Nancy Birr, was the daugh
ter of John Birr, a wealthy Rhode
Islander. Her father. who was never
married to the then young Birr woman
was a Deputy Sheriff Chase, of Swan
sew. Mr.. Birr, Miss Birr and her par
amour, Deputy Chase, are now all de
ceased. When the child Sarah wa,
born she was taken into the family O
| Mr.. Birr, who never consented to {
marriage between her and Chase. A
the age of fifteen years Sarah ran away
from home and went to the little vii
lage of SeekonlS. Mass, with the mar
known as DR. Solomon, and there the
pair went through the form of clandes
tine marriage Sarah lived with he
dark-skinned Othello nearly thirteel
years, and had by him four children
! Cornelia Ann, Sarah, John and William
The first child died very young. Afte
thirteen years Of life with DR.. Solomon
she left him for something more con
genial.
The next move of the woman was t.
| marry IL HOuSt k'ftIlttl III L lOhldCilC'
named William X. Lane, who had
wife living at the time. She had on
son by Lane and named him William
after the father. Lane went to sea an,
died. Then the woman married an
other painter named Florimond !
Howe. at Manchester, and became Mrs
Sarah f. Howe. At the time she MAJ
ried Fl0rimond Howe twenty year
ago. she was telling fortunes at Man
chester, having established herselfther
sometime previously as clarvoyant
Mr.. Howe's relatives and friends strong
" opposed the match, and for nearl
fifteen years the woman is lost to sigh
of those who knew her in her youtl
though an occasional glimpse of her
caught as she shines out in some boil
and distinguishing piece of deviltry
The couple went to South Boston an,
threw themselves upon the mercy c
Manly Howe a prominent and wealth
citizen, Florimond's brother. He too
care of the couple, gave them a hous
on F street, furnished it for them an
and gave them a chance to live re
specially, but Sarah's inclination t
play pranks cropped out, and immedi
ately there was trouble between her an
her bro her-in-law She circulate
damaging stories about Mr. Mani
Howe, and the troubles he had wit
this wor an were fully ventilated in til
local press at the time. She openl,
went into court at Boston and Institute
a suit against Mr.. Howe her husband
brother. whom she charged with stea
ing Il promisory note for $4,000, whic
sum of money she alleges she ha
previously loaned him and for whicI
he had given her the note. The cas-
dragged along for Il while in cour
and was finally mol pros'd and throw
out complainant having failed to pu
in an appearance at the times whe
she should have been present to prose
cute her case. The sorely-tried broth
er-in-law took the most charitable vie1
of Mrs. Howe's infrmities of principl
and practice, and two physicians, o
statement of her many transgressions
agreed with him that she was of III
sound mind. The result was her res
dence in the Taunton Asylum for tn
insane for two years,
1t is interesting to note the rapidlt
with which this woman rose from pc:
tive embarrassing poverty to the er
! ioyment of luxury and wealth.
| 1873 she began to live on Gerland stree
and here, it is said, the Ladies Deposi
Company began to do business. l
1875 She went to jail for the want of
few hundred dollars for bail; to-day sh
| 1 l. l. 20 mi