Telegram-herald., 1890-11-23
BROKEN BANKS.
SIX Institutions in Kansas ard
Oklako1a II Tgoable.
TIE Commercial Sax 81 09thris S~s-
psnos a. ~ dnight. Carving Cta-
e. ttoeses Dessn ain T.

SKEAF EXcITENENT.
GUguaE q A.. Nos - President
J. Al Esgs4ale. OF ths Commercial
Bank has Gea Attachments cover tie
froat of the eanx battling and an
sngrf rl0o ~ deposieofs hss surrounded
the structure al day. waiting - wfssk
vengeance oa tee authors q their rein.
Presi8en. Esgsdale left unostontatious-
~ Haarsday nigh. on 3 freight train,
sitboa. leaving any word a. 70 his des-
tinaaon. and Ffl1ay the demonstra-
teas became - alarlaing That his faml-
ly boarded q north boan4 train Tor
Kansas
Nas rumorsa Thursday afternoon
that TIE Commercial B4ak VAS insoly-
ent and the heaviest depositoFs OF the
Institution tegan 70 make excited IN
quiries. They clamored for information
until after midnight when the cashier
posted q notice on the front door stating
that the bank had suspended on sc-
coant OF the failure OF the New
ton National Bank OF Newton, Kan,
which sas being Opetsted by the same
syndicate. The crowd az this turn
OF affairs became very noisy, and
bodily harm would have been done any
mem Der OF the deiunct institution Who
could have been found. The rumors had
So alarmed the officers OF the National
Bank OF Guthrie. the Guthrie National
Bank and the Bank OF Indian Territory
that they held meeting during the
night and agreed that II the rnmors re
garding the Commercial Bank proved
true they would assist each other in
withstanding the runs that were sure 10
be made.
The first sign OF decided animation
after day-dreak was when the county
sheriff rode rapidly up TO the CONNER
cial and affixed TO the door six different
notices Of attachment aggregating sums
from $500 to $50. 600. This caused =
general fusillade OF attachment
notices, and by 10 o'clock the entire
door, door-steps and castings were COW
cred with them. All day an angry
crowd occupied the streets on both
sides of the bank and many dire
threats were made, some OF the hot
heads even proposing to wreck the
building.
The Commercial Bank was branch
OF the Newton National Bank and it
operated throughout the Territory three
branches, at Elbreao, Canadian County;
Norman, Cleveland County, and Still
water, Payne County, all of which
have closed their doors without
warning, and tho farmers, ranch
men and other victims are left with
only a remembrance of having done
business with bank The Commercial
was supposed to be one of the strongest
financial institutions in Oklahoma, and
when the rumOr of suspension was being
circulated 10 WAS disbelieYed by many
who are now penniless.
At o'clock, Immediately after it
opened its doors for business, a run was
begun on the Guthrie National Bank
which bade fair to compel the other
banks 10 come to the rescue, but when
the excitement was highest w. p.
Hackney, attorney for the Santa Fe
Railway Company, and also for the de-
funct Commercial Bank, stepped up and
made deposit Of $40. 900, which checked
the rush.
Word comes from Oklahoma City that
the Citizens Bank Of that place had ex-
perienced a heavy run, but through aid
IL withstood [ rush until time to close.
The Territory IS shocked financially
from stem 10 stern, and the ALREADY Y
close times in money matters Will un-
doubtedly become worse. Only a few
days ago the Capitol City Bank Of this
L., &.
cliHes more salubrious.
It is now generally believed Rags
dale has gone 10 Canada or Mexico
Many of the destitute farmers who
were unfortunate enough 10 be deposit
ors Eere also losers in the capital
city. Fraud is freely charged as the
investigation progresses. Attachment IS
amounting in all 10 SIG 600 are tackled
10 the door. Mr.. Hackney SAYS the de-
posits alone viii reach SO coo. the total
liabilities being unknown. and that
.he assets viii be perhaps $50 000
Among other unfortunates are Governor
Steele. Ch.ef-Justice Green and the
Government board OF town site trus-
tees, the latter losing $4,000 OF the Gov
ernments money. which they will be
compelled to personally make good
Some of the most prominent business
firms throughout the Territory arc bad
ly crippled b. the present failure,
which the people never suspected.
1t is reported that vigilance com
mittee has been formed FOR the purpose
Of !ynching any officers OF .he defunct
bank who may be found responsible FOR
the suspension. While no actual
evidence OF fraud has yet been discev-
cred, the excited depositors charge that