The Dickinson press., 1897-04-03
Her DREAM DIssIPATED.


HER DREAM DlSSlPATED.
Gail Hamilton's Idea Of . womans Bank
rov Chimerical.
"Gail Hamilton" said q Philadel-
phia banker to a Bulletin reporter
recently, twas a very able woman,
but like q good many other women,
and men, too, for that matter, she
didn't understand finance. Her ig-
norance on this subject led her into
Q grave mistake at one time, and
thereby hangs one of the most curl
GUS tales of human incredulity that
ever came to light.
"About 10 or 20 years ago a wom-
an named Howe opened q bank of
deposit in Boston. It had several Pc
ouliar features, among which were:
It was owned and operated by wom-
on; the accounts only of women
were solicited, though there was q
proviso that the sterner sex should
be allowed the privilege of deposit
ing money, though under no Or
oumstanoes would they ever be al
lowed a voice in the management;
no limit was to be made, as in ordi-
nary savings banks, as to the amount
that would be secured on deposit.
"This was all very we'll, and if
there were nothing made the inno-
walton might do-for Boston. But
the circular wound up with the star
thing announcement that the rate Of
interest would be 8 per cent q
month! MOI only that, but this rate
of interest was in all cases to be paid
in advance!
Zone would think that such an
asburd proposition would be laugh
ed at in any intelligent community,
but it wasn't. and the bank was &C.
tually in operation in Boston for
over q year. The concern was looat.
ed in a fashionable quarter of the
city and did a rafting business.
The Howe woman, if she didn't un-
derstand banking, as she afterward
acknowledged at her trial, certainly
understood the business she was en-.
gagged in, which was simply to get
all you can and keep all you GET
The bank was patronized by high
and low, rich and poor, and bore ev-
cry outward evidence of prosperity.
A few of the knowing ones, who got
in on the ground floor. made money
out of it, for it was only necessary
for any one to deposit 81, 600, say,
and get back 81, 4S0 in six months.
1T was only by accident that the
concern was exploded. A servant
girl in the family of a banker had
an account in the woman's bank, and
her employer saw it and began to in
vestigate. The story got into the pa.
pers, and tho bubble burst. Great
was tho CONSERVATION among the
women folks, and Mrs. Howe came
out with a pronunoiamento, saying
that the bank was all right and
would continue to do business, but
in three days the concern was closed
by the sheriff, and Mrs. Howe was
arrested.
"Gail Hamilton was among the
woman's dupes. She wrote a two
column article in defense of Mrs.
Howe, in which she intimated worry
plainly that the failure of the bank
was entirely duo to the jealousy of
the men; that Mrs. Howe and her
system were all right. and that all
bankers could pay 8per oenta month
If they wanted to.
"Of course there were lots of PEG.
pie who could see after the bank
failed that no one could pay 8 por
cent q month, and she was meroi-
lessly ridiculed in the press, and
from the fact that she never retort-
ed, as was her invariable custom on
the slightest %provooation, I guess
her friends got hold of her and kept
her quiet"
"How much did Mrs. Howe get
away WITH"
II forget the amount, but it was
something over $500, 600. "-Phila-
delphia Bulletin.