The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-05
A BANK is
In DANGER.
DepOsitOrs In the Burst Dime
Savings Bank, Chicago,
Worked Up to a High s tate of
Anger.
TO HOLD A MEETING
Next Sunday to DenOunce the
Owners of the Bank.
DepOsitOrs We're Mainly People
of Small Means.

Chicago, Feb. 5.-One thousand deposit
tors in the lamented Dime Savings bank
will gather in mass meeting on Sunday,
exchange indignant views regarding the
directors of the shattered institution
and take definite action. This meeting
was called at a preliminary conference
last night at the Sherman house, dur
ing which the directors were denounced
as scoundrels, thieves and liars.
Fifty persons who had never met one
another before constituted last nights
meeting and arranged for the larger one.
When they reached the clubroOm at the
Sherman house they sat around for an
hour to order. Every one wanted to do
something, waiting for somebody to call
did not know how At last lawyer
present, who said he was not depositor
started the ball.
Before the meeting adjourned this back
ward gathering was applauding the de-
nuciatory speeches with all vigor:
1t is enough to make Anarchists OF
poor people," James r. Conrad. No. 673
East Sixty-third street, exclaimed. and
the depositors cheered- we must do
up a few of these rascals and show the
whole country that the poor people can
not be robbed in this way. while the big
'stiffs' who do it strut around town"
Every few minutes, some one wanted
to institute criminal proceedings against
the directors, but the lawyers present
who came to represent clients, they said
We're strongly opposed to such course,
it a sure means of losing what
there was left in the bank. The failure
crash in 1890, in the Schaffner failure of
1893 and the pardOning of the Meadow
crofts after depositors had spent over
IS, 600 in securing their conviction, were
urged as examples of what might be ex-
pected.
Others wanted Receiver Metca1f remov-
ed, but again the lawyers pointed out
that such an attempt would be wasting
money, and that it did not make much
bonds.
One depositor asked if he lost any of
his legal rights if he took the 80 per cent
dividend He was told to get what he
could when he could, for the bank might
never pay another cent
The saving of deposits since December
q, when the ninety-day notice was post
off criminal proceedings after the failure
for receiving deposits within thirty days
after insolvency.
To get the interests of the 1000 deposit
tors in the failed bank into better shape,
a committee was appointed to see the
ceiver and the directors and to report
ct meeting to be held in Aldine hal1,
No Il Randolph street. on next Sunday
afternoon at 2:30 o'clock. The following
EtIinger, George b. Smith n NJ Sell
man. J. C. Harris and L. P. Biller For
cha1rman OF the meeting j. G. Harris
The Dime Savings bank began paying
a 80 per cent dividend to depositors yes
ed in the morning a crowd of anxious
men, women and boys gathered at the
steps. There was a, rush and crush in
the effort to get into the lobby, and the
jam at the door continued all day. Two
policemen stood inside with positive in
a time When o'clock came the doors
were promptly barred. Some women who
had stood on the cold wet stones since
morning were turned away without hav-
ing received the meager portion of their
savings which had been promised them.
The process of giving out the cash was so
slow that comparatively few depositors
were able to take advantage of the order
of the court instructing the payment.
Many feeble women were compelled to
leave in order to avoid the crush of the
crowd that sGrged around the door.
The gathering of deDoSitors presented
picture which emphasized the fact that
the shutting down of the bank was a
terrible hardship to thousands. Scarce
~ a Well-dresSed man woman appeared
in score of depositors. Canoused hands
boarded the little savings which were
locked away from them in the iron vaults
of the bank Some of the creditors OF
the institution were compelled to walk
down town yesterday morning from Lake
View, from Woodlawn and from distances
Tar on the west side because they had
not money enough to pay car fare.
working women who shiVered and watt
ed in the crowd outside the bank door
for hours told stories of painful deDri-
vations caused by the result of impair
ment of the bank capital Rents were
10reciosed, insurance payments were lap
sing, credit had been exhausted at the
grocers and bakers and at the coal
dealers: Medical bills had taken away
what other money they had, and in some
cases needed medical attention was de-
MED by reason of previous oVercond-
dence in the Dime Savings bank