The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-25
HER DREAM WAS oIssIPATEo.
Gail Hamilton's Idea of Woman's BanA
Proved Chimericai.

Proved ChimericaL
"Gail Hamilton" said PHILADELPHIA
banker to a Bulletin reporter recently
twas a very able woman, bat, like I.
good many other women, and men, too
for that matter, she didn't understand
finance. Her ignorance on this subjeci
led her into a grave mistake a Z one time
and thereby hangs one of the most curl
GUS tales of human credulity thai
ever came to light.
about IS or 20 years ago a woman
named Howe opened bank of deposit
in Boston. It had several peculiar fea
lures, among which We're: 1t wa,
owned and operated by women; the
accounts only of women were solicited
though there was a proy!so that ths
sterner sex should be allowed the priv
ilege of depositing money, though
under no circumstances would they
ever be allowed a voice in the manage
ment; no limit was to be made, as il
ordinary savings banks, as TO ths
amount that would be secured on de
posit.
This was all very well, and il there
were nothing more the innovation
might door Boston. But the cir
cular wound up with the startling an
nouncement that the rate of interes'
would be eight per cent. q month! No
only that, but this rate of interest wal
in all cases TO be paid in advanced
"One would think that such an ab
surd proposition would be laughed al
in any intelligent community. but il
wasn't, and the bank was actually IL
operation in Boston for over a year. Tn:
concern was located in a fashionable
quarter of the city, and did rafting
business. The Howe woman, il she
didn't understand banking, as she after
ward acknowledged at her trial certain
" understood the business she was en-
gagged in, which was simply to get al
you can and keep all you get Th'
bank was patronized by high and low
rich and poor, and bore every outwarc
evidence of prosperity. A few Of the
knowing ones, who put in on the ground
floor. made money out of it, for il wa
only necessary for anyone 10 deposi'
$1,000, say, and get back 81, $50 in Sill
months.
1T was only by accident that the con
Germ was exploded. A servant girl IL
the family OF banker had an account
in the woman's bank, and her employer
saw it and began 10 Investigate. The
story got into the papers, and the bub
bic burst. Great was the CONSERVATION
among the women folks, and Mrs. Howi
came out with pronunciamento say
ing that the bank was all right and
would continue 70 do business, but il
three days the concern was closed BY
the sheriff and Mrs. Howe was arrested
Gail Hamilton was among the
wonan's dupes. She wrote two-col
umn article in defense of Mrs Howe. il
which she intimated very plainly thai
the failure of the bank az Ell tirely du.
70 the jealousy of the men; that Ars
Howe and her system were all right and
that all bankers could pay eight Per
cent. a month il they wanted 10.
"Of course, there were lots OF people
who could see after the bank failed that
no one could pay eight per cent
month. and she was rnerciieesiy ridi
culed in the press, and from the fact
that she ncrer TetoFted. as was her IL
variable custom on the slightest provo
cation, guess her friends got hold o:
her and kept her quiet"
slow much did Mrs. Howe get away
WITH"
81 forget the amount. bat IL was scEre
thing over half a nillson.
pkiA Bulletin
lse-ttSs of Eeart&
Edith-So you've gone and engaged
yourself 20 Tom Sewter, and you told mo
cnly last week that yOu wouIdn', haze
him II there wasn't anotber r.An In tie