Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-10-02
Deposilors Threaten The Officers VI the
Ciearilold and Houlzdale
banks. -
HUNS AND stAvs Grow FRAN.
TIC.
ny TELEGRAPH to ,AoSaw,i



sion Continues,
HOUflDAIT, Pa, oct. l. - The ea.
element over the fusponslcns OF the
the Cltariicli and HoutEdalo banks
continues. when tho Deposition were
informed that they were likely 90 re-
ccivo less than b1 Ior cent. Of their
money the lower clssses formed Ia
squads nud shouted exccratiols aud
threats against the officers, that would
certainly have been put In execution
had the latter been found.
a large delegation " Houiziale
citl1ons called on President Din nj
Clcariiold tonight ard demanded and
pleaded with hiin that he make some
satisfactory statement. They pointed
out that the two towns were actually
threatened with financial ruin, and
other disaslef. in future from private
individuals were e. be- feared unless hc
made some sort Of q statement, show.
Ing what he could and would do In
paying the vast army Of dcposiiors even
uf the two banks. 10 al these plead.
ings President Din returned tho M.
swor that he was all right and the
banks were all Right, aud II tho depOs.
iloIa stood by him they would be all
right.
This afternoon receivers for tho
Houtzlnie Bank were appointed, and
they ate noW ia charge. Bank
Examiner Miller tool, possession Of the
/ Clcnrhold Bank. At the time Of the
suspension the Huutgdnlo Bank had
deposits Of 500, 900, but there was less
than 81 900 Ia the vaults. This after.
noon aud tonight hfialn have become
Alarming. Men and women clamorcd
ut tue doors In vain, the tide aud pres
sure before the dOoru becoming ~ great
that u strong guard u policemen was
finally placed there and ordered 10 beat
the bowling dcposiiora back with their
| clubs, ~ Il was feared that the bank
would be demolished aud looted. Press
/ id.nt Dill aud Cashier McGtAlh weru
arrested tonight upon petition Of one
depp-ltor, and gave bail In the sum OF
/ 5000.
The excitement hero concerning tho
| First National Bank failure was In
tcnHitiel last night whom the condition
Of things ~ HoutLdhlc was learned,
THIS H0utziaie bank IL y private con.
cern boughtby Dill last Spring. When
Din took charg. lac placed John u. Me.
Onth, Ia whom the community had
the uimDst confidence, In charge ~
cashier. This NJ ouse stimulated busi.
mess, aud on the fifat day over $1,000
was received IN deposits, mostly coming.
from IUor miners. At that time the
deposits did not reach $4,000, hut
through McGath'a woll.known In
tcgtily and popularity they grew until
yesterday morning they reached 5000
O00. Upon opening the bank yeaicf'
day McGfath had occasion TO telephone
the First National Bank concerning d
check, and was nslonishod 10 Learn
that Il had closed. lie at omen CLOSED
hil hank but had already received
several deposits. The word spread
rapidly, and before long several nun
drrd dupotitofH were ON the streets.
l'hr ignorant Huns aud Slavs wht
have deposits running from $500 /,
5000, grew frantic When they knew
that their money was In danger. Tn,
large depositors nj once sought Cashle
McGnth, aud he Informed them tina
nlth0ug the deposits reach ss00,OOO, lea
than $50, 900 Ia paper and currency WA
ia tho bank WHEN II closed. lie cal,
President Din had removed groa
1 amount Of the money, giving ~ hi
reason that the Houizdalo vault wa
not secure, aud he would put II Ia tia
Garfield vault. Many Of Dill's friend
OF yesterday are his enemies today.
. Is said that lac has been borrowing
right aud left. Only u few days az
) his mthor,in-law, Jonathan Boynton
advanced 10000 on the representa-
tipu that Il would ia everything al
and put the bank on IT. foot.