Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-07-21

has risen to the important position o
chief engineer on the Vixen. Some o.
these war times when he becomes ever
more famous the gossips viii tell Of q
sweetheart he bad in Columbia who
missed marrying a future Admiral.
But maybe there's a chance yet ,
Since the above was written Chief En-
gineer Morton has been again promot-
ed He was transferred to the Marble
head and after that ordered to the
Aduia, a Spanish prize-steamer, and
sent to Savannah, Ga, arriving there
July 18th.
| The REGISTER last week told of the
arrest of }. W. Craven in ST. Louis,
on the charge of forgery preferred by
| Texas authorities. Mr.. Craven passed
through here last Thursday noon, IN
der the charge of Texas officer, on
| his way to Lufkin. The Meas publish
ed al Licking. Mo-. (Mr. Craven's old
home) tells the following story of the
young mans troubles: Like a thun-
der-bolt from the sky came the an
nouncement, Wednesday noon, that
LAlC SlLAGCI Oouh VI AL1h4u- ACA-s u
W. Craven, proprietor, had failed. As
this was Walters boyhood home and
everybody here knew him well, it at
tracted no little attention and COM
ment. The high social and financial
standing of mis- parents and the general
impression that Walter was succeeding
with his Texas interests were good
reasons why the people should be very
greatly surprised at his failure. That
our readers might know the facts in
the case We made special inquiry into
the matter with the following result:
Two years ago, this month, Walters
father organized the Iron County Bank
at Ironton. Mo. became the leading
stakeholder and secured for his son
the position of cashier. This position
be filled with credit to himself and
complete satisfaction to the owners
and patrons of the bank until his res
ignation in July. 1897, which he offer
ed in order that he might 60 as he
thought to better field. Immediately
after severing his business connections
at lronton he went TO Lufkin and in
partnership with John and Frank
SbO" oA0t SCA q ~ ~ cAAS JAIN S4LA q
capital stock of $12, 600. 1t seems that
the bank prospered it being reported
that at one time the deposits amounted
to about $4,000. However in the
early spring money matters became
very close and deposits were largely
Withdrawn. About the 1st of June, a
rumor gained circulation that the bank
was in bad condition and Immediately
a general run began. The bank had
considerable money loaned on and in
vested in real estate upon which i'm
mediate returns could not be realized.
Walter realizing something must be
done and as the shortest way out of
the predicament drew a sight draft on
the Bank of Licking. of which his
father is owner. for $1,000. As his
father was bitterly opposed to the
Texas venture from the first and did
all he could to prevent its being made,
he did not feel it his duty to strain his
own bank in order to help the Texas
bank. Consequently the draft was
protested. This of course caused q
general protest from other places and
Walter in a last effort to raise the
Iuuus necessary 10 tue MS oanh oyer
until loans could be realized upon
sought a market for securities in Gal
weston, Texas, and not being success
full there went for the same purpose to
St. Louis. In the meantime, the bank
was attached and thus the matter
stands as We 60 to press. Walter has
many friends here who are sorry to
know of his trouble 1t is hoped and
believed that when a general settle
ment is made and the cause Of failure
definitely located, it will be found due.
as claimed by its unfortunate proprie-
tor, to no Encouragement on his part.
but solely to the wholesale withdrawal
OF deposits which will cause any bank
to suspend"