The times., 1899-10-09
LOST IN ITALIAN BANKS.
Workingmen's Wages Swept Away
in Wildcat Failures.


NEW YORK. Oct. SIN less than ten
in this city alone by poor Italian laborers
who have deposited their hard-earned
money with the so-calIed bankers of
their nationality. who have either failed
and run away, or simply run away with
out the formality of falling or who
have failed and are still about town pro-
tected by pull of one kind or another.
Undoubtedly among the list of these
banks which have failed there are some
whose collapse was not a deliberate rob-
berry of their clients, just as there un-
doubtedly are Italian bankers in The city
who are honorable and responsible men,
But in the majority Of cases it has been
robbery pure and simple Some of these
robberies have been of the most heartless
nature. the bankers before their flights
having gone to camps of Italian lab3rers
and there collected thousands of dollars,
entrusted to them for safe keeping or to
be sent to Italy. It is generally on the
approach of fall that the ''Banca Italiana'
. fails or the banker flies to other climes
with his pockets stuffed with the money
which poor ignorant men, and women too,
have toiIed and starved themselves to ac-
cumulate.
AT that season Of the year the deposits
are always the largest, and II is at that
season also that the Withdrawals begin,
with the ebb-tide of italian families re-
turning home to Italy for the winter.
1t is curious that just before the last
Presidential election the Italians nearly de-
pleted the banks Of their deposits. They
feared the election of Bryan for it was re-
ported among them, and the report was
fully believed, that If Bryan were elected
American money would depreciate in value
by one-half So there was a scrambling
among the Italians TO get their cash into
geld and out of the country before the
crash came. 1t is noted that even now the
threatened nomination of Bryan is having
its effect, and if he is nominated It is pre-
dieted by those who know the italian
colony here best that there viii be an
other stampede to get deposits cut Of the
banks. i
Fer long time back the better element
of the Italians here have been urging their
compatriots to use American banks OF good
standing as places of deposit for their saw
ings. One of the brightest and best of the
Italian papers here. the -BoIIettino Della
Sera." has inaugurated a crusade against
the italian wildcat banks, and day after
day points out the danger of trusting them
and the security and advantages OF using
American banks instead
There is absolutely no safeguard TO de-
positors in the wildcat banks. The banker
makes no deposit by way OF pledge and
is under no bond whatever. Anybody with
500 to purchase banknotes and gold pieces
for a window display may become. 4
banker" With his glitteriug cash in the
window ana a sign reading ''Banea tall
ana, he is ready 70 rake in the money OF
his dupes and skip away when he has
enough of it, The rate OF loss is just abour
$106,00 year, all taken from the poorest
and most hard working people.
II one stops a moment 10 think what OF
toll and privation and self-deniaI the ac-
cumuIation of SI30,9Go out OF the savings
from the beggariy wages of the Italian
laborer means, the magnitude Of the crime
of the swindling bankers is sufficiently i'm
pressive.
The following Is a list OF italian banks
that have failed within the last ten years
with the amount of money absorbed by
each in the failure:
Durante SIS, GEO; De Joanna, S35, ,0Go;
Bergamini, sl65. .O0o; De Leonardis. $4,000;
Iacolucc. $4,000; Nunziato S12.oG0; L.
Conte. $4,000; Pernetti $4,000; Troia,
$4,000; Canada. $4,000; Mastro Pietro,
s35, eco; Pirola, $4,000: Fusco, $4,000;
Barilati s50,0o0; Barsotti. $150.00 Clan
lorenzo. S25, COO; Cohen Co., S130.090; Gill
berti. sic, ,Ooe; Fill LamaIda Co., S1O9.O GEO;
Paura S5e.0eo; Aellio. $150,000; total,
81 975, coo.