The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-12-24
BANKERS ARRAIGNED
The Law Is Trying to Fix the Blame for
the Big Chicago Failure.
RECEIVED DEPOSITS AFTER FAILURE
Is tho Charge Brousiit-Thcy We're
Admitted TO Iinii- Runs on Two OF
the Banks Continued RennrItn.
bic Record Of Failures throughout
thc Country Yesterday.

CHICAGO; December &C., Charges anu
counter charges in connection with the
mianarcmcnt OF the National Bank OF
Limos ihd We're made to-day and engrossed
,ne IN attention of the financial community
ro,,n TO ,mS eNciHsi9n ,E m Of the days events sur
roIThhn'hG Thn n,,,Lic tme Dig ilnunciai collapse
and complete restoration of confidence
seems TO lave been effected.
BANK OFFICERS ARIsAIGNED.
by ARRANGEMENT OF the police depart
Justice of the Peace w. 4: HALL tho nc-
cused private bankers Edward S. Drny-
eE sio,i!l rnd koi,ert Berger. entered. Justice
Detective Fay. who held the variants
which Z l.. Kennedy saloon keeper ]
had sworn TO, announced that the men
were under arrest. The charge in each
G@ss ca .,-i Is thIt the bank rccaived n deposit
were insOlvcnt.
Thes dIeGandants We're accompanied by
Adolf Kraus, their lawyer and Charles
H. Wacker. of the Wackcr & Birk Brew
ing company. The latter signed the
bond of the bankers In the sum of 500
each for their appearance in Justice
LIARS court January >. kennedy says
nG,, he ~ acting for himself only, but, his
advised by those who believe Dreyer &
Cos failure could not be forcsccn
y SHORT RECElvERSTllP.
The shortest bank reccivership on re-
cord cor, -rpriy;eisht hours-was that OF
John II: Nichols, who was appointed re-
Ccivcr Monday afternoon for Frederick
M%iI%mai say.,,a1 j., , pGoprietor Of the Roselnnd
Cd thiomgli the National Bank OF liz
noiF. Ihr receiver appeared before
Judge NANCY this afternoon and report
real estate and liabilities OF sal. l.G0o Suf-
iscient money had been raised TO carry
on the business and The Judge d!scharg-
doors Tomorrow morning.
THE RUNS KEPT Cr
The runs, on the llInoia Trust ard
Savings and liibc,nian banks continued
usual hour arrived there was not enough
IT line at each bank to dignity the
scare 's run. No vestge OF the cx-
day. The officers of the Illinois Trust
were so confident that tho run on their
bank had come to an ignoble end that
after paying cut under The 60 day notice
rule for dcpOsitors of over 500 for an
hour OF So. decided to remove nll rcstric-
t!cns and began payment in fun 10 All
bank the notice was adhered to.
\ aian of accountants. in charge OF an
at The Drcyer & Co. and Wasmandorif
& Iicnmann banks. and next week a re-
port is expected which will give an In
tellgent !dea OF the condition of both
houses
y ScArEGOAT.
NiccPrcsidont Hammond who IS
charged with pulling the wool over the
eyes uf the directors Of the dcfunct Ma
tional Bank, would not talk for publca-
ton when seen to-day at his Evanston
home. but n friend Speaking for him.
said: IVY. y. !lminoUh is TO be made
the scapcGuat OF tho failure Of the bank.
lie IS broken man to-day. but lie is not
any more 20 blanc icr the amount of
money loaned on Calumet Electric secu-
ritz than are tho members of tile FL
nance Committee of the sank AVID Its di-
icCtOrS, II was necessary inr the pur-
poses Of a man connected with the South
Ch.caGo city halfway ana AN officer OF
one of the biggest banks IN Chicago. 10
doprcciatr Calumet road stock. and to
THIS end these tTo men accomplished the
wreck of The National Bank OF illinois
Every member of The finance Committee
and directors OF The failed bank knew
the fun amoun; of the Calumet loan and
hoped 10 make Individual fortunes on the
success of the venture. They were given
stock OF the road and the purpose OF the
deal was to sell the property and besides
ruyinG the bank loan. make a neat sum
FOR the directors There has been a
sharp contest between the General Eicc-
ir.r and South Chicago City Railway
Companies 10 get control of the Calu-
met bonds. The latter road will he
worth 5000 900 in five years and the out
sidcrs who ruined the bank knew II. but
they wanted 10 buy the bonds cheap