Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-05-13
Its DepOsitOrs Take
Possession.
Indiana Banks Go by
the Board.
General Closing. Of
Shaky Banks.

korKfogn. Mich, May la-The Rock
ford bank failed q open iis doors ihis
morning The deposits ven locai aud
amounted t. sstoo
The suspension ls due 81 The failure n
thccolumAla National q; Chicago. which
dragged down tie private bana)ilg fuu
II Paris A Nave q; indianapolis Who
owned the Rockford institution aud rs..-
cral small hanks H. Indiana
Nheu eieI"sigors appreciated ihe fac;
tha; their inoaoy was ts,ond reach th,y
we're parayzed and thea wildly excited
Cashier \ 4 ". declined - make any
statement save that ho had been a irod
10y i'aris a Mare L. stop pasmegts add
had teicgraphci back asking Ierinls-isI
Ia continue businrss ar he hal p.ents 4
cash oI hanl. Unlli late ia tho ssios
noon be received no reply q tais nses
sag. FINALLY the cooler d.,~nsiiuts dc
cl'iei "a hold q socssi meeting iuCighi
al "a o'clock and give Cashier iry an
opportunity q making riaiem.iii
One man Who's. all. rlsi aas ln tie
bank. advocated the Use ~ dy nanliic Ia
force the sale doors
Deposits ara Raak.
The country about l.oc A.ord - Tar
ilcularly fertile and MANY eell in lo
farmers have funds on deposit IA tho
dfaDc. institution. Ncarls eSurl husi
mess firm vii le affected ani several
men aill be- pushed D. tho wall , VI
SIore. treasurer Il Algoma iov ushii4.
had g, ,>s. 20 The csnslip funds a. the
bank, T.. T.. Hewitt. school treasurer.
also had the school funds e. coo un ia
posit- james Bakery. whc s-rld the
bank Last August 10 Paris a Nave. Lad
5000 ~ his old iank.
To enumeraie tie icI,ositors il o.
publish the directory - Rockford. the
majority of them being Irpr persons
who had h,ir little al. n iae bank. Dn
lhe-e the loss Will be sefs hard Nell
Mcmillan stat" oil Inspector. Lad about
Sl.sD la the crash.
Ds-ts,s.sor- Meeting
AZ i.}0 O'Clock the dspr.iioFs held a.e-
cret meeting M the clui, r,.ogns. aild Cash
Icr Try made statement withih, under
standing that j, wis t. L. hrlfl s.ss-fs~i
lie yroduc'~i Telegram from parir aud
Nave. authorizing him. ~ thar a,o.nt.
Ia turn over AL moneys. notes. nal
estate anal fixtures tp the dtp.rIiors io
convert the same into caeh aiid iteE
would make good the deficit NJ
try then read from the tanks
books how u si=i 80 O'clock
"Wednesday afternoon.
Cash IA hani ssesu
Cash on iDp'sli al The eid National
hank. Grand kap3dr ss5tssi
Cash "a drprt Uiih tho ,,san hia
National. Chicago ySpN
The deposits appreAimatssi s.-itsI
After ihIe statement iife siiark toiiera.
appointed !, committee II I've Nta Ne
MILAN chairman. T.. 4. Watkins q y
ilt'ic. J VI Sppre and T. B. Hewitt T.
take immediate charge ~ the banks
afiaifs aui hiH - salt sas - osi,.e
nade pui sni si.n'-. L. bead ~ laasrrs
from braud itsfaas who pcff. tsl,.., tel
t. afnto un ~" midnight train
- Ia as ~ l.roau tut ,.iie t,rand
Rapid. irin io-cs anything. Ne.iey
bne.. shp sani s4"p hsrr se-ter.ia,
Cashier Fry sass ih8- b. ga drl,,s.i g.
the tanks rr".iii at the oii Natuuai
hank. brand l.apds.
n" hankf creditors iesl ssa, iss ii.iif
sonic irhcsuE they t,ii h. l.aid .n iull.
'-ihrrs think that thcs viii rsi - c.nts
ou thc dollar