The Houma courier. (Houma, La.) 1878-1939, 1896-10-31
AER DREAm VAS DlsslPATED.


AMAAL EMAINAEUAEA INAEA u n " JIG = 1<8AA 4
Proved chImericaL
eGan Hamilton, said a Philadelphia
banker 10 a Bulletin reporter recently
was a very able woman, but, like {
good many other women, and men, too
for that matter, she didn't understand
finance. Her ignorance on this subject
led her into a grave mistake atone time
and thereby hangs one of the most curl
Gus tales Of human credulity that
ever came to light.
"About IS or 20 years ago a woman
named Howe opened 2 bank of deposit
in Boston. It had several peculiar fea
lures, among which were: 1t was
owned and operated by women; the
accounts emily Of women were solicited
though there was a proviso that the
ssterner 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 in
ordinary savings banks, as 70 the
amount that would be secured on de-
post
'eThis was all very well, and if there
were nothing more the innovation
might do-for Boston. But the cir
cular wound up with the startling an
nouncement that the rate of interest
would be eight per cent. q month! Not
only that, but this rate Of interest was
in ell cases to be paid in advanced
cone would think that such an alb.
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. The
concern was located in a fashionable
quarter of the city, and did a r~attling
business. The Howe womaR, if she
didn't understand banking, as she after
ward acknowledged at her trial, certain
ly understood the business she was en-
gagged in, which was simply to get al
you can and keep all you get Thu
bank was p~atronized by high and low
rich and poor, and bore every outward
evidence of prosperity. A few of tn
knowing ones, who put in on the grounf
floor, made money out of it, for it wa
only necessary for anyone to deposi
$1,000, say, and get back $1,4S0 in sf
months.
SIT was only by accident that the con
Germ was exploded. A servant girl il
the family of a banker had an accoun
in the woman's bank, and her employee
saw it and began to investigate. TIL
story got into the papers, and the but
BILE burst. Great was the co~nsternatio
among the women folks, and Mrs. How
came out with a pronunciamento say
ing that the bank was all right an
would continue to do business, but i
three days the concern was closed b
the sheriff and Mrs. Howe was arrested
ssGaiI Hamilton was among til
woman's dupes. She wrote a two-co
umn article in defense of Mrs. Howe, j
which she intimated very plainly thi
the failure of the bank was entirely dU
to the jealousy of the men; that Mr.
Howe and her system were all right an
that all bankers could pay eight pr
cent. a month if they wanted to.
sOf course, there were lots of peop
who could see after the bank failed thi
no one could pay eight per cent.
month, and she was mercilessly rid
rculed in the press, and from the ia
that she never ~retorted, as was her i
variable custom on the slightest prov
cation, 1 guess her friends got hold
her and kept her quiet
~ "How much did Mrs. Howe get aw;
with?'
"Tforget the amount, but it was som
thing over half a million."-Philadt
phia Bulletin.