The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-05-01
GRONLUND'S BANK FAILS.
EVERY FTSS's FRIENp AND BkxKER
sBU1S UP AND LEAVES Town.

sis. Abross-Tss Rocks Are - Ftpnt.t
ssd the As.iesss'. Aseourtan, I- o. Ds-
psit-Li. biitiss FROM $50. 600 TO 500 90
J Down 10 tho basement Of the Chesebroue
building. at the State street and Broadvs
corner dozen stolld-looklnG men and wome
fingered all yesterday afternoon talking II
whispers Behind the counter two or tire
clsrks sat looking very llstless indeed. All
desk sat- another clerk opening letters an,
taking from them bank notes Of all sizes AM
descriptions. By the window was a gray
haired man with big ledger. tearing his hair
He was an expert accountant. but the ledger
was kept in Finnish.
The basement was the banking departms On,
OF the Scandinavian and Finland Emlerant
Company. Limited. and Busted. The company
had made an assignment The twelve stoiid
men had paid In the West for tickets to take
them home to the old country, and they had
no tickets and no money to buy any more
tickets. and Gronlund was away Gronlund
was Observation-Disclosures the banker. the
| editor. the friend OF every Scandinavian and
| every Finn who ever came to America. There
were twenty-five or fifty more men on the road
somewhere. due to arrive before q steamer
sails. There were lot on the ocean who had
bought tickets In tho old country. while
throughout the country there are believed to
be 100. all creditors OF the bank.
Gronluhd was wonderful man. With 4
capitsl OF 81; zoo cash and nothing else behind
MIN hs built np business that sent more
All without loss TO the owners. until now How
much nov nobody knows. for he kept his
the expert could make them out. Rumor said
he owed 100000 and had $4,000 to pay IL
With: but nobody knew how near that was to
dronlu9d used to be a clerk in the oilcs OF
with that company when En- iprhtion Com mia
sioner Stephenson drove that company out OF
9sT ssa S SrnsR:H ne fSs
led to the hght, and then he lett the company.
started his opposition company. and finally
drove the American ompany to the wall In
the course Of building up his business, Gron-
,nnd started Newspaper. printed in the Fin
copies ABROAD lie Soa9St an inssre.s IN
sertised there estsbii:ssd "e oi,s ne az" IN
Sweden. Norway. Finland. and the Western
scandinayisn at home in all Of his ofiiee. e' liz
sssnas the assnt Fl and
printed 10 Finnish. There was nothing a Finn
could want saye i0Gd that he could not get
got there they deposited their money and sub
Gronlund,s agents In Europe and started West
iesi aI.g that they were under Gronund's
Gronlund's chief business was his bank. Tho |
home to their fsmiiss Gronland d' was sst thsIs
gave SsS ssi ua 3Sss
years ago. when he said that $50 900 had been
l lSst. In the malls on the way to st9ckholn.
" Which ho vas vas made up Of 9rsnpnd's original
srs. and undivided PROFITS. The $40. 900 was
made good at the demand OF the Swedish Gov |
>, dIonland's COMPANY did 50 big a business
iund told = friend that, he guessed he'd have
jail Tas ..S sted hin hoy nuSh he
make any, secret Of II. He appealed to Gustav
tSr h0 :ed line he
sPd tss% hs .uS :ssae hip Sa to ~
E9sS.Sr. IN N.s SssG "a 6S Pd .Ss
y: IL Va. AFRAID i would sttssh lis balance.
and AM, then no would have to shut up at once.
send abroad He hired av s Alter lawyer.
vice he wanted; &c even t told the SALOON BON
keeper Of whom he bought drinks that he was
.Kal isEi brothers. d Co. are clothing mer-
chants In Greenwich street. near Battery Park.
s:nt Of t9
week he went into tho .tor. AND said to one Of
t nss st s %oa sns Ts' xi5s
kaliski II he could depend on him to go his
S6o ball RSsR toia hin tS.s sSs isu2e
vas all straight he would stand by him, but u
oTS to- 10 he
been In business bong time and had a good
On Thursday afternoon. as nearly as could
be leaTned Yesterday Gronlund made decker
and nsna 1ns %
ted by which he became possessed OF all
.nm stSok o sns S.s the sole owner Of the
Board OF Directors, and on saturday he made
n r. as sSssiF9mSsnt III; IsTysr At the end was
'ignee was an Acquaintance OF Mr., Moses and
!. man whom Groniund himself didn't know.
the oss d chisi cSan:s FaSas is6s
Western Union telegraph Company. After
ironiand said he had imp ortant business In
Jhicago that would take him until Tuesday to
sRs scs o the did
kroue6 one Of the, CLERKS in his once. This
hassd tickets IN the Te;t that the M4 BANK had
zone up, When asked for particulars laterthc
s Ssr to SSd that be-
s:sss we're very sTs t All The assets ;fS he
,,wedish Government The assignee said in
have 1nca a. Sis S ~.
nut look At hint They are all in Finnish.
lardly know what We are going to
nut up their money. for tickets. but l
ant do anything. There are twenty five
oming In to- morrow on the saals and DON'T
now how many more all u whom have paid
assaRe money either to the West from the old Z
ountTy or to the old country from the West.
nd Of course can't carry out the contract ,
Intil ascertain Just exactly how the concern
lands don't know what led TO the failure. q
ut understand that recently large amount | 4
ecessary TO make that good: that embsr-
AsSed GIonlund." q
The morning mail consisted OF . stack Of Z
sttsrs about foot high, and every letter con {
osit with Gronlund. and some OF the money /
TAs intended to be forwarded abroad. OF !
curse none Of it will get beyond the safe !
Or the present
President Forrest II. Parker Of the Produce s
Bank was very much surprised at !
be stories that Gronlund had been telling :
bout an alleged indebtedness to the bank.
fr. Gronlund. he said. does not owe the bank
nythinR; in fact. he has a small balance