Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-12-24

CONFIDENCE SEEMS TO HAVE
BEEN ENTIRELY RESTORED.
DREYER AND BERGER ARRESTED
The Receiver OF the Roselaud Bank
Discharged Continuation, But
Gradual Diminution of the Runs
on savings Institutions,

CHICAGO, ILL, December 23.--Chargss
ana countor-charges in connection with
the management of the National Bank Of
Illinois were made to-day. and en-
crossed the attention Of the financial
community. TO the exclusion Of the day 5
events surrounding the big national bank
collapse. The arrest OF Bankers Dreyer
and Berger. the discharge Of the re-
ceiver of the Roseland Bank. and the
continuation OF the savings depositors
run on the Illinois Trust and Savings
Bank and the Hibernian Banking Asso-
citation were the principal Developments
The public scare is practically over, and
a complete restoration OF confidence
seems TO have been effected
BY arrangement of the Police Depart
ment. counsel for the defendants. and
Justice of the Peace w. T. Hall, the ac-
cused private bankers. Edward 5. Dreyer
and Robert Berger, entered Justice Hairs
private courtroom this afternoon. De
tective Fay. who held the warrants which
T.. L. Kennedy, a saioon-keeper and
depositor at Dreyer & Co.'S bank, had
sworn 20. announced tnat the men were
under arrest. The charge IN each case
is that the banker received deposit OF
S53 at the close of business last Satur-
day knowing al the time that they were
insolyent The defendants were accom-
naried Inv Adolf Kraus. their lawyer
ana Charles II. Wacker. of the Wacker
4, Blrk B.ewing Company. The latter
signed the bond of the bankers In the
sum of $500 each for their appearance IN
Justice Halls court January "a. Ken
nedv saws he is acting for himself ohly,
but his action Is regarded as premature
and ill-advised by those who bepeVe
the Dreyer & CO. failure could not nave
been foreseen.
The shortest bank receivershlp on re-
cord-forty- eight hours-was that OF Johh
II. Nichols, who was appointed receiver
Monday afternoon for Frederick "ler-
sema, proprietor of the Roseland savings
rank OF Roseland. which cleared through
the National Bank of Illinois He ap-
neared before Judge Hancy this after
noon and reported that there were as
sets OF $4,000 in cash ana real estate
and liabilities of S5l,600 Sufiicient money
bod baen raised TO carry on the business
and the Judge discharged the receiver
The hank will open its doors tomorrow
morning.
RUNS DECLINING.
The runs on the Illinois Trust ana
Savings and Hibernian banks continued
to-day in lesser degree, ana Wheh the
usual closing hour arrived there was no'
enough of a line at either bank to dignity
the scare az a run. No Vestlse Oh .ne
excitement is expected 10 remain di.ei
Chrlstmas-Day. The officers OF the IL
Hnois Trust Company were so cohhuent
that the run on their bank had come 10
an ignoble end that, after paying out
under the sixty-days' notice rule ior ue-
oositors of over $loo FOR an hour or So
~, decided to remove all restrictions,
and began payment i'm full to all deposit
ors in line. At the Hibernian bank the
notice was adhered to.
a STAFF of accountants, in charge OF
an expert. was put 10 work during the
dav al the Dreyer & Co., and Wasmans-
dorfe & Ifeinenann banks. and next week
a renort Is expected which will give an
intelligent idea OF the condition OF both
houses. H. T..
charged with pulling the wool over the
eves Of the directors OF the deIuhct hd-
tional bank. would not talk Tor puDllca-
tion when seen to-day at his evanston
nome; but a friend, speaking for hlm'
said: A.
..W. A. Hammond is to be made the
scanegoat Of the failure Of the BANK lie
is a broken man to-day, but he is not
any more to blame for the amount OF
money loaned on the Calumet Electric
security than are members OF the FL
nance Committee of the bank ana It's
directors. II was necessary for the pur-
noses OF man connected with the South
Chicago City railway, and an oiiicer OF
one of the biggest banks In chicago TO
do,reciate the Calumet-road stock; ana
20 This end these two men Accomplished
tbo wreck of the National Bank OF I'LL
,,ofs Members of the Finance Commit
80 ord9directors Of the failed bank knew
~ f,,lI amount Of the Calumet loan, and
tn,,od sn IN make individual fortunes on
tbe success of the venture. They were
eiven stock Of the road, and the pur-
enso NJ the deal was TO sell the proper
~ t,'. and. besides paying the bank loan.
r,ate q neat sum for the directors. There
has been sharp contest between the
General Electric and South Chicago
CIV Railway companies to get control
~ the calumet bonds. The latter ROAD
,rrl he worth S5.GOOo00 in five years. and
The outsiders who ruined the bank know
II. but they wanted TO buy the bonds
~1oo, -