St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-31
The GREAT SENSATION
Produced at Duluth by Yes
terday's Globe.
THE PAPER EAGERLY READ,
And the Exposure Generally
Commended.
TRUST COMPANY DEFENSE
Which Dodges That Histop-
ieal Missing $4,000.
COMMENTS OF THE CITIZENS.
Special to the Globe

Special to the Globe
DULUTH. Jan. 30.-The sensation on
the year was the arrival of the GLOBE
this afternoon with the complete ex-
posure OF the American Loan and Trust
company. Everybody who could obtain
a copy of the GLOBE was an eager
reader. and the publication was the
great theme of conversation throughout
the city.
Outside of the parties connected with
the trust company the exposure was
thoroughly indOrsed and commended,
and the GLOBE scored a popular hit.
The feeling tonight is that the city and
county treasurers and the city and
county attorneys have been derelict in
their duty in allowing the pub
lie interests to be jeopardized by
their silence and delay. The manly
course of the mayor is approved, and
now If the council and the other officers
named choose to still remain inactive
and decline to protect the public, the
retrlbution which they Invoke will be
visited on their heads, and the loss TO
the city and county will be charged to
them as tlagranI neglect of duty.
No paper here has dared to take hold
of the matter, and the vigorous and
fearless course of the GLOBE makes the
people wish that they had real news
paper representative of their interests
here.
While at the time of the panic, for the
effect on other institutions, the derelIc-
ton and worse of the American Loan
and Trust was concealed on the argu-
ment that it was for the public good,
that time passed months ago, and there
has hot been for long time any excuse
for concealment or failure to prosecute.
1t is not a political, but a business
question:.
The sentiment Is strong that if there
has been criminality, as the mayor in.
Inmates. justice has been very patient in
neglecting to administer its rebuke. II
is regarded that those under suspicion
have done little or nothing to ward
off the blow which was feared to the
other banks, and now that apprehension
is long past it is believed that the mayor
Is but just in demanding that the
guilty parties should be punished, or at
least steps vigorously taken in that di-
rectiou, in order that the present ad-
ministration may purge itself, before it
retires, of any undue leniency to crim-
lnality further than to conserve local
financial interests, which are now be-
lleved to be fully beyond the shadow of
damage or injury.
A county officer "a Republican, said
this evening: Pm sorry it's leaked
into printed publicity. for that won't
help us to get the county or individual
money any quicker. but of the correct
ness OF the GLOBES article l have no
doubt.'
Jay W. Anderson suggested that it
would be good plan to haye the bank
examiner come up and look the institu-
ton over. He said: II think, if the
story is entirely true, that the
methods employed are pretty n9ar
on a par with the Minneapolis Menage
muss. l know nothin however,
about the truth of tine affair. The ques-
ton naturally arises, what sort or Sc
curity has the bank got for its loans to
its officers and directorate? One Of the
heaviest borrowers is, as l understand
it, an insolVent before the courts, or
was so short time ago. That makes a
bad showing to begin WITH
1t is said that the bank examiner has
not made an examination OF the in
stitution for two years.
The loss of the $4,000 is severely
commented on, and good deal of plain
Anglo-SaXon is used in characteIiz.
ing it.