The semi-weekly tribune. [volume] (Great Falls, Mont.) 1890-1891, 1890-12-20
1t Involves the Temperance Union and
Other Like Organizations.
the PRESIDENT AND CASHIER ARRESTED.
The Caucus Financial Measure Ia Re
ported to the Senate by
Sherman.
Further Reports From the Snow
Storm in the Eastern
States.

CHICAGO, Dec 1S.-Yesterday the Kean
bank sent to New York $4,000 of bonds
of the city Of Superior, Wis, for account
of Louis Larson, comptroller of that town,
Larson brought the bonds Yesterday. The
bank refused to take them and at his re-
quest sent them to the American Ex-
change National bank of New York to be
sold for the city of Superior. The Kean
bank had not one cents worth of interest
in the bonds. 1t has been reported that
the bank sent securities to New York and
the rumor was based on this fact. The
Methodist ministers Of the city seemed
to have generally escaped loss, though
two or three of them are understood to
have been caught for small sums. Form
erly almost every one OF them kept his
account with Kean, button rumors of the
impending disaster, almost all had with
drawn their balances. The Methodist
book concern also kept its account with
the house, but when Preston left the
bank, withdrew Its money. w. J.. Nc
Donald, manger of the bonds department
of the bank, said that the department
was not responsible for the failure. He
says that y capital Of $4,000 it made last
year between $4,000 and 10000. "What
was the cause of the failure them"
Cashier George B. Warne, W. j. Nc
Donald and Herbert Hammond, assistant
cashier, were present when this question
was put. From joint statements made by
them the failure is due to the tendency
of the management to deal in speculative
securities and to make loans by favor
rather than on good financial principles.
The liabilities consist of several small
amounts, we'll secured, due to city bank
ers, and deposits. There are about 800
or 900 deposits, with sums varying from
$4,000 to $500 or less to their credit.
Kean is president and chief stock holder
in the Home Safe Deposit Vault company
and this stock he has turned owe to the
assignee. 4
According to the replies made by the
assignee, Jacobs, during the investigation
the assets, exclusive of Kean's person
al estate would aggregate approximately
$1,353,00O, and the liabilities $1,4O0,OOO.
The assets consist of land, scrip and notes,
$4,000; stock of the Home Security
Vault company (par value) $4,000; other
stocks, $4,000; municipal warrants, 3d.
600; bank furniture and fixtures, $1,000;
bills receivable (actual value), $1,000 600;
bonds deposited as security for loans
from banks, 100000. The liabilities
are 100000 due depositors and 100000
money due banks on bonds deposited for
loans. Jacobs is a close friend of Kean's
and as Indicating his friendship, he said
he deposited $500 on Wednesday, al
though he knew the bank was in a shaky
condition.
CHICAGO, Dec. l8,-Inyestigation dis.
closed that not only the w. CT. U. Build.
ing Association but nearly all the numer'
III organizations that cluster around the
big temperance union were depositors in
the bank. The "gift fund" Of the Tenn
perance Temple Association kept its nc:
count there, and withdrew a month ago
fearing trouble, but afterwards returned
it. A deposit of several thousand dol
lars was made just before the
bank was closed for the last time
The exact amount on deposit for temple
fund is upwards of $4,000. The treas
urer' of the national W. G. T. U. herself
also kept an account with Kean & Co
and made deposits up to the last hour o
the banks existence. The Woman
Temperance Publication Co. deposited
$1,70O in the bank within a short time o
its suspension. The ~ccOun Of the two
central w. q. T. U. restaurants in thi
city helped to swell the deposits. Mrs
Emmons, treasurer of the woman's lee
ture bureau of the W. Q. 7. u, was a de
posltor, and so was Miss Helen Hood o
the Illinois state union. Altogether TEN
perance organizations have, it is est
mated, from $4,000 upward, whic|
they would like to have we'll out of tn
wreckage.
THE FINANCIAL BILL,