The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1891-10-07


md Swede miners have locked up in the |
,ank between So. 900 and $4,000. Indiyid- |
,sl deposits from $4,000 down. among the
iepositors being several widows and trustees
,or orphans. Several business men are
known 10 be left without one dollar.
McGrsib's first intimstion Of the closing OF
the Ciearfield bank was the notification by
the holder of check that the bank had
closed, when he at once closed the
doors Of Houtzdsle bank. The deposits.
The deposits are upwards of 100000. The
amount of assets depends entirely on the
value Of the securities held in lieu OF
the money, and Of this the cashier has no
personal knowledge.
McGralh has made an assignment TO John
Beyer, the largest dePositOr, and viii ask
that a receiver be appointed.
THE COLLAPSE AT cLEARgIELD.
CLEARErELD, Pa, Sept. so.-when the
early riserz Of this morning saw 8 notice on
the doors ofthe First National Bank stating
that it bad suspended payment, there were
numerous remarks of /" told you 50" be-
cause for the past ten months the drain on
this bank was heavier than was healthy for
ii.
Yesterday some $50 600 was taken out, and
the collapse was the result. The principal
Stockholders Of the bank reside here. and
are at present wondering hsw much of the
loss they viii be liable for. A Bank Exam
iner is expected here from Washington to-
night TO take charge Of the bank.
HouTzDALE, Pa, Oct. 1.-Cashier McGrath
was seen to-day and said that, though the
deposits in the bank reached over $4,000,
there were less than $50 900 currency IN the
bank when il eiosed-hoE much less he
would not say He also said that President
Dill, who also owned the Clarified bank,
had removed great amount of money from
the local bank lately, giving as his reasons
that the Houtzdaie vaults were not safe, and
that it would be safer in the Clearield bank.
When depositors were informed they were
likely TO receive less than 80 per cent. Of
their money the lower classes formed in
squads and shouted eKecrations and threats
against the officers. Their anger is bound
less
Bank Examiner Miller was telegraphed
for and now has the bank in charge, with
experts going over the books. He will make
no statement whatever 1t is thought other
banks may suffer greatly unless the hopes OF
the friends Of the president are realized and
both banks shall pay in full.
Before the word got to Houtzdale that q
receiver had been appointed the Hungari-
ans had Cashier McGrath arrested, and they
are on their way here to make information
against Din.
The officer from Houtzdale arrived hers
st O'Clock this evening with the warrant
for Dill and entered the residence and ar
rested him. he accompanied the officers tC
Justice McCullough's Office. The warrant
charges him with embezzling a deposit o
500. 1t was issued on the information of ;
female deposition. He was held in 5000
bail, which was furnished by James Mitch
ell and W. R. Mcpherson.
Upon leaving the office half dozen drum
ken Hungarians from Houtzdsls set upor
him, but were restrained from doing an,
harm by the officers, Dill was hurried Il
his residence by his attorney. The Houtz
dale officers say he will be arrested upor
other warrants tp-morrow.
CLEARFIELD, Oct. 2.-The most interesting
feature of the several exciting incidents fol
lowing the collapse of the CIearfield an,
Houtzdale Banks was the arrest of Presi
dent Dill and his subsequent frenzied effort
TO secure bail. The warrant sworn out b.
Bank Examiner Miller, who has charge o
the Clearheld Bank, before Justice McCul
Tough, charges that "Wm. II. Dill, presiden
of the First National Bank Of Cl.ar6eld, di,
on the l4th day ST July, 1881, with intsnt t
cheat. injare and defraud the First Nations
Bank, make false entry in the cash book @
the bank, viz: An entry of $4,000 and otbe
false entries to the injury Of the bank.
When the news spread that Dill was to
arrested the trouble with depositors brok
out anew, and excitement tonight is almos
as great as when the bank failed
SEARCH FoR BAIL
The warrant was issued at once to Con
stable Goodfellow, who proceeded to Dill
handsome residence, where he took tn
banker in charge. Dill asked to be sllowe
to remain in his own house until he secure
bail. His request being granted, the office
remained closely with his prisoner, ssd me:
| -. all
for friends who would be able 70 20 on
large bail bond.
After considerable argument Examine
Miller agreed to make the bail 5000 con
diiional for DnIs appearance at the ne1
Quarter Sessions, and another scurry wa
made for bail to nd Dill of the officers Ut
welcome presence. A. E. Patton, cashier {
the Curwensville Bank and a son-in-law {
Banker Dill, then came down and signed ID
bail bond and four other good names ha
been secured, when CONSERVATION was CT
sted by Examiner Miller and the Distri'
Attorney reappearing upon the scene, Milk
stating that other discrepancies had been di
covered amounting to 900 and that 81
ditional bail, in al $4,000, must be fu
nished. Then began snosheF hunt for bal
but at O'Clock this evening another Al
anal bomb was exploded from Houizdale
HIS LIFE WAS THREATENED.
At that hour a constable arrived with
warrant sworn out in Houtzdale, chargin
Dill with the embezzlement of SIS, zoo. Tht
, created panic among the bondsmen and
! wss impossible to seczre another dollar bs
. for Dill. who remained in his home closel
guarded by officers. two deputies being ser
: there this evening Dill went to jail L
] night, although the officers said they woul
tyy and keep him in bis own house unit
the arrival Of United States District Attorne
Lyon and United States Marshal Harrsl
both of Pittsburg. who have been telegraph
ed for and viii arrive here tomorrow morl
: ing
e, fsalrsaa 4