The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-10-02
NOES HowLING AT THE DOORS.
Clearfeld and HoutzdaIe Banks Wreck
ed by the President.

ed by the President.
CLEARFIELD, Pa, Oct. Excitement here
concerning the First National bank failure was
intensified last night when the condition of
things at Houtzdale was learned. The Houtz-
dale bank is a private concern bought by Dill
last spring. When Dill took charge he placed
John B. McGrath, in whom the community had
the utmost confidence, in charge as cashier
This at once stimulated business, and on the
first day over 5000 was received In depos-
its, mostly coming from poor miners. At
that time the deposits did not reach
$4,000, but through McGrath's weIl-known in
tegrity and popularity they grew until yesterday
morning they reached 100000. Upon OPEN
ing the bank yesterday McGrath had occas-
ion 70 telephone the First National concerning
a check and was astonished to learn it had
closed He at once closed his bank, but had al
ready received several deposits. Word spread
rapidly, and before long several hundred depos-
itors were on the streets. The ignorant
Huns and Slavs, who have deposits running
from $500 to $1,000, grew frantic when they
learned their money was in danger. The larger
depositors at once sought Cashier McGrath, and
he informed them that although the deposits
reach soc, 900, less than $4,000 paper and cur
rency was in the bank when 1t closed. He said
President Dill had removed great amount of
money, giving as his reason that the Houtzdale
vault was not secure and he would put 1t
in the Clearfield vault Many OF Dilrs friends
of yesterday are his enemies today. 1t is said
he has been borrowing right and left Only
few days ago bis fathsrsin-law, Jonathan Boyn-
ton. advanced $4,000 on the representation that
it would fix everything up and put the bank on
its feet.
HoUTZDALE, Pa, Oct Tho excitement over
the suspension of the Clearfied and Houtzdale
banks continues. When the depositors were in
formed that they were likely to receive less than
so per cent. of their money, the lower classes
vrnA dc 1Cf,n fad
threats against the officers that would certainly
have been put in execution had the lat
ter been found. large delegation of Houtz-
dale citizens called President Dill at
Clearfield tonight and demanded and pleaded
with him that he make some satisfactory
statement. They pointed out that the two towns
were actually threatened with financial ruin,
and other disasters in the future from
private individuals were to be feared unless he
made some short statement showing what he
could and would do in paving the vast army
of depositors of the two banks. To
all these pieadings Dill returned answer
that he was all right and the banks were all
right, and if the depositors stood by him they
would be all right. This afternoon receivers
for the Houtzdale bank were appointed
and they are now in charge. Bank Ex-
aminer Miller took possession of the Clearfield
bank. AT the time of the suspension the Houtz-
dale bank had deposits of 100000, but there
was less tndn sUUVUo III tIe vaults lnls dlterIoOH,
and tonight affairs have become
alarming. Men and women are clam
oring at the doors in vain. The
tide and pressure before the doors became SO
great that strong guard of policemen were
finally placed there and ordered to beat the
bowling depositors back with clubs, as il was
feared the bank would be demolished and looted
President Dill and Cashier McGrath were ar
rested tonight upon the petition of one of the
depositors, and gave bail in the sum OF $1,000.
WASHINGTON CITY, Oct Bank Examiner
Drew has been ordered to take charge of the
First National bank, OF Clearheld, Pa, reported
to be in financial trouble