St. Paul daily globe., 1890-12-19
Assignee JacObs,

Assignee Jacobs.
"When did you first learn that the
firm was hard pressed?'' was asked.
Last Saturday. AT that time Mr..
kean came to me and said the deposits
were going very fast, and he would like
to have me and some other gentlemen
look over the affairs of the bank and
tell him what was best to do. He said
that on Dec. l there were deposits of
S5OO.000 in the bank, and ten days
later $260,000 had been drawn
out. Mr.. Kean thought that some one,
he did not know who, had circulated re-
ports to the effect that the bank was un-
sound, and the result was that deposit
orS were taking out their funds as fast
as possible. l suggested that we see
President Charles l.. Hutchinson, of the
Corn Exchange bank. as Kean cleared
at that bank. | saw Hutchinson and he
said he thought the other banks would
be willing to extend help. Through
Mr.. HutchinSon's offices there was
meeting of bankers convened yesterday,
at which were present Mr.. Hutchinson,
j. j. Mitchell. Orson Smith, j. B..
Hobbs, Mr.. Kean and myself. The
bankers had been investigating a state
ment that Mr.. kean had submitted of
bills receivable. and
After the Investigation,
repeated their offer of loan of $40, 900.
we to put up $4,000. They wanted us
to guarantee the $4,000, however. Mr..
Hobbs said If the bank were reorgan-
lied, he was prepared to take $4,000 of
stock in 1t, or even 100000. The meet
ing broke up at 80 p. Ill.,, and it was
understood the banks were to advance
the money. To carry out our part of
the deal, we called on Mr.. Fowler, the
packer, and William Deering. the har-
Vester manufacturer, and succeeded in
getting them to promise us help, but we
could get no one else. At this juncture
we met a reporter. who told us of an at
tachment suit just filed against the
bank. Mr.. Kean sent for his head man
IN the bond department and his cashier
from the safe depositary, and after a
long talk it was decided to assign. At
torney Fennell was sent for, and the
papers were drawn up before mid
night"
The warrants for the arrestof Banker
Kean and Cashier Warne. were served
before sundOwn this evening. Each
was released without difficulty, on bail.
the bankers bond being but $4,000, and
the cashiers even less amount. The
nearing in both cases was set for Dec.
27. Considerable interest was aroused
by the report that the building commit
tee of the National Woman's Christian
Temperance Union has been a deposit
tor at kean'S bank. The w. G. L. u.
is erecting magnificent temple in Chi
cago. work on which has been under
way but short time.
Investigation disclosed that not only
the w. G. Z. U. Building association,
but nearly all the numerous organiza,
tlonS that cluster around the big tenn
perance union were depesitors in the
bank. The "gift fand'' of the Tenn
perance Temple association kept its ac-,
count there, and withdrew month ago,
fearing the trouble, but afterwards re-
turned. A deposit of several Thousand
dollars was made just before the bank
closed the last time. The exact
amount on deposit for the temple
fund is upward of $4,000. The
treasurer of the National w. c.
l.. U. itself also kept an account
with Kean & Co., and made deposits up
to the last hour of the banks existence.
The Woman's Temperance Publication
company, too, deposited S1,7OO in the
bank within short time of the suspen-
sion. The accounts Of the two central
w. G. L. U. restaurants in this city
helped to swell the deposits. Mrs. En-
mons, treasurer of the Woman's Lecture
bureau of the w. G. L. U. was depoS-
itor, and so was Miss Helen Hood, of
the Illinois state union. Altogether the
temperance organizations have. it is es-
timated, from $4,000 upward, which
they would like to have we'll out of the
Wreckage