The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1895-08-29
THE DAN HEAD & co. AFFAIRS
TURNED OVER To GEO. HALE.
HIS BOND FIXED AT 5000, 600
The Bank Failure the Sensation of the
Hour-How it came About.-Depos-
itors at the Doors.-What the
stockholders Have
to say.
(From Mondays Daily.)

!
out of business, and this morning the
excited depositors gathered about the
place and looked anXiously at the big
brown stone building whose curtains
were drawn and at the two small slips
of paper which appeared on the big
plate glass window and the door which
in Remington capitals proclaimed,
Bank closed until further notice"
This was change from the first notice
the public got of the closing OF the
doors. The first slips which appeared
on the doors stated that the bank would
close until Monday morning. But this
morning the doors did not open On
the contrary a long meeting of the
stockholders decided that nothing
could be done and that the doors better
remain closed.
There seems to be an inside history
to this failure which has not yet all
come out. The connection the bank
had with the Chicago Bedding COM
pany affair was not all by any means.
1t is charged by those who claim to be
on the inside, that the management of
the affairs of the institution has not
been what it should have been. Not
that the intimation, which may easily
be drawn, that the people themselves
were dishonest is intended, but the
condition of Mr.. Lewis, who as he says,
almost lives on morphine, was such as
to make it we'll nigh impossible for him
| to conduct the banks affairs properly.
Mr.. Head, the president of the institu-
ton, has left the active management
exclusively in Mr. Lewis hands, and
when Mr.. Lewis went onto the bonds
of those charged with conspiracy and
arson Mr.. Head made very strenuous
objection to it and declared very
strongly at the time that it was bad
move to make. Mr. Lewis, however,
at first refused to listen to any imputa-
ton against the members of the Bed
ding company and believed that after
they had been given a fair hearing in
the courts they would be indicated
and therefore his own position in the
matter would come out alright. But
the story was let out onto the streets
and when the willy tongue of the gossip
got hold of it the good name of the
bank was drawn down and used very
freely.
Excitement Running High.
| Since the story has been circulated
so very freely the excitement in the
city and among the country depositors
has been running high. AS queer as it
may seem the country people have
been the ones most effected by the af-
fair. At no time since the connection
of the bank with the affairs Of the Chi
cago Bedding company have been
known, have the city depositors seemed
to feel at all anxious about the condi-
ton of the institution. The farmers
have done all the running and with
drawing of deposits. They commenced
this almost from the very start. Not
all of them got in to get their money
out, and Immediately after the news
got to many of them Sunday they came
in to await the possible opening of the
bank this morning. A large number
of these spent Sunday night in the city
so as to be on hand at the earliest pos
sible moment to get in IN case the
doors were opened. Still others took a
sensible view Of the notice posted in
| the window and went back home, not
expecting to see anything more of their
money until the processes of the courts
shall have decided how much there was
for each. 1t is perfectly safe to say
that if the doors had been opened this
morning the bank would have been
compelled to put out every cent of
every deposit in it, for the city deposit
ors had joined the farmers this morn
ing.
The Scenes on the Street.
The bank was early surrounded by
the throng. They had gathered from
all over the county from Lake Mich
gan to Wheatland. They walked up
to the bank doors and stood about in
knot for time and then scattered
about in smaller knots all along Main
street. Encouragement and in some
cases condemnation of the bank people
seemed to- be the only topic of CONVEX
sation. No violence to speak of was
entertained and close to the noon hour
the street was mostly cleared of its ex-
cited people. The feelings of good
many of the people were beyond ex-
preston. Some of them merely stood
about with drawn lips and blanched
cheeks. while they feared, not daring to
express what. The awful possibility
arose before many of them that the
savings of lifetime, the coined sweat