The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-07-16
THE MUNSTER BANK.
Great Excitement Among the Depositors and
Fears of Riot.

FearS OF ISiOt
Cork, July 15.-The excitement over the fail
ure of the Munster Bank (limited) continues un-
abated At an early hour this morning deposit
ors began assembling at the doors of the bank in
Dublin, Limerick, and other cities and towns in
Ireland where the bank has branches. At noon
the streets in the vicinity of the bank in this city
were black with the crowd of people clamoring
for their money. A large force of police is sta
toned at the bank to preserve order. The crowd
is hourly growing larger and more disorderly,
and fears of riot are. entertained. Dispatches
from Dublin, Limerick and other points where
the bank has branches state that the same scenes
are being enacted at each of those places.
The failure of the Munster Bank has had the
effect of paralyzing business here. Among the
patrons of the institution was the municipal
corporatio !, which had on deposit at the time of
the suspension $4,000 The Harbor Board also
had large sum in the bank The individual
deposits were large. A feeling of despair pre-
walls throughout the city Mr. William Shaw,
M. p. for Cork county, and who formerly
chairman of the bank, is strongly denounced by
the people, who blame him for the difficulties
in which the bank was involved. Much sympa-
thy is felt for the employees of the bank, 200 of
whom are thrown out of employment A large
number of these are married and have families,
and to them the disaster is particularly serious.
The failure has not only greatly affected trade
here, but has caused a serious check to trade
throughout the South of Ireland. The bank
officials inform inquirers that they hope to be
able to pay all depositors in full, as soon as the
assets remaining can be realized upon.
The shareholders in the Munster Bank have
petitioned the Vice Chancellors court for a com
pulsory winding up of the affairs of the institu-
ton. The banks suspension is the chiet topic of
conversation everywhere in Ireland to-day.
There is but little excitement this evening over
the affair. Crowds surrounded the banks
were many painful scenes among
the poorer depositors. Many Dublin merchants
will be deeply involved by the failure. There
days preceding the suspension, and no less than
ST., 400, 900 had been drawn out by depositors.
Officers of the bank have assured the people
that no depostor will lose penny by the sus
pension. Merchants accustomed to large ac-
commodations from the bank are much alarmed
over the suspension, following, as it does,
long, continued depression in business It is
feared that many of these business men, now
that they are deprived Of their bank facilities.
will be unable to continue their
pretended as a result. 1t is expected that the
full amount of the paper held by the bank will
be called in.
The news of the suspension caused in LINER
ick where tie bank had many customers. a
sensation greater than any known for
years, and the Limerick bank Off
GERS of the suspended institution were
besieeed all day by anxious inquirers. Mr.. Par
neil and Mr.. Sexton have been requested to ask
the government for assistance. The bank direc-
tors held meeting to-day, but the result
of their deliberations has not been made public
means invested in the bank, will be reduced to
DOyertv