The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1900-12-29
pALTIMoRE BANKS IN TROUBLE.

Currency the Baltimore Clearing House AS
ISOLATION having notified him that it would no
longer aid the bank. 1t is said that bad man
agement is the cause of the banks trouble and
that one-half of its capital stock of s2OO,OOO
has been impaired by reason of loans made on
paper without sufficient collateral. Losses to
depositors, it is said, will besmall as the stock
holders will be called upon TO make good the
deficiencies. Mr. Joshua Homer, of Ashland,
Baltimore county, is president of the bank,
and the directors are all well known business
men. The Economy Savings Bank, which
was large deposition in the American Bank,
has also gone into the hands of receiver, who
bonded in the sum of S250,000 Mr. Daniel H.
Brinton, counsel for the bank, was named as
receiver
The failure of the American National was
mild surprise to the community compared
with what was to follow. On Wednesday a
heavy run on the Old Town Bank, located
Just one square from the American National
resulted in the closing of its doors also and at
the request of the directors the appointment
of a receiver. The court appointed Mr.. Roger
T. Gill, of the law firm of n. Rufus Gill d
Sons, and he bonded at once in the sun of
81 500, 0OO double the value of the estimated
value of the banks assets.
The bill of complaint filed by Mr.. Gill sets
forth THAT while the bank, until compare
lively recent period, has done successful and
profitable business, it has recently incurred
heavy loses by the bad faith of its cashier,
theodore r. Wilcox, in that without authority
he wroDgfully, without the knowledge OF its
president or board of directors, permitted Isaac
Robinson and the United Milk Producers AS
ISOLATION of Baltimore to draw from the bank
large sums of money, and incurred losses
thereby which the bank is unable to bear and
continue safely to those interested"
Mr. Theodore F. Wilcox has been connected
with the bank since it was organized in 1871.
the greater part of the time as cashier Mr.. e.
g. Hipsley, prominent business man and
highly respected citizen, is its president. In
an interview, after the doors of the bank were
closed, Mr. Wilcox said:
1.-THE allegations in the bill may be in the best
legal form, but they place me in a bad light, and
all l ask of the public is to suspend Judgment
until the real truth of the case is known. The
losses made have not been so heavy but what
the bank could have sustained them and still
have been a highly profitable enterprise. as the
net profits after paying all expenses and taxes
for the last year. were 20 per cent. on the capt.
tai Stock The immediate cause of the receiver
ship was continuous Withdrawals. These were
doubtless heavier because of the unsettled state
resulting from the failure of an adjacent bank
The first report that came to me about any run
being talked of outside was traced by me back
to director of that institution"
The Old Town Bank, through which many
of Baltimore county's citizens transacted their
business, has always been regarded az per-
fectly solid and safe institution hence the great
surprise that was occasioned by the closing of
its door. A number of prominent bank Off
Gals in the city say there was no occasion for
the directors acting as they did that the af-
fairs of the bank were not at all in bad shape
and that it could have ided over the tempo
rary embarrassment without the least trouble.
These gentlemen say the directors became
panic stricken.
CONGRESS LONG since found that it must
prohibit the use of the face of any man while
still alive on bank note, however distinguish
ed he might be. Not even Grant is an excep.
ton. No mans head can be used on post
age stamp while he is alive. No vessel be-
longing to the United States can be named
after living man, even in the class where the
names of naval heroes are alone employed.
The Roman Catholic Church has wise rule
that no step toward canonizing person of
memory can be taken until twenty-five years
after death, and fifty years must pass before
the Church will decide whether there is evil
dence to justify adding new saint TO the cal
endar. We might add to this that parents
would be wise in not raining their children
after living persons. A man may be for a
time great and powerful, and yet die in dis
grace perhaps in Jail or the scaffold. 1t is
quite likely there is many young man IN New
York today burdened with the name of Viii
liam NJ. Tweed, bestowed by devoted followers
Of the 'boss." This is an illustration of what
may happen to those who name their little
ones too soon after living favorite.
THE WESTMINSTER Sentinel of last week said:
"a report is current that Mr.. Nicholas W..
Steele has retired from the snperintendency
of the Oakland Wooden Mills, in Freedom dis
trict, this county, with which he has been con-
nected for the last ten or twelve years. If true
the fact may have an important bearing on the
future political complexion of this county, in
which the vote has been so close that Mr..
Steee's influence, we believe, had made it
swing from one side to the other at his will"
1t will be remembered that Mr.. Steele was an
Independent Democratic candidate for Con-
gress in this district last November.
EDWARD CUDAHY the millionaire packer of
Omaha, Neb., had to pay $4,000 for the re-
turn of his little son who was stolen by kid
nappers and hidden some distance from that
city. The men informed the father that they
had the boy safe and sound and offered to re-
turn him to his home at once if the ransom
was deposited at place indicated by them.
They also stipulated that no effort should be
made by the father to cause their arrest. Mr.
Cudahy agreed to the terms and the boy was
returned after two days absence. The author
tiles are now making efforts to capture the
kidnappers.
On THE day after the November election,
when the daughters of Governor-elect A. B.
White, of West Virginia, sent their father
telegram congratulating him on his ''red-head-
Gu way VI NlunluRs lhCy plOboOty "SiS NV
aware that since West Virginia had become
State six of its nine Governors had auburn
locks. Such, however, is said to be case.
MacCorkle, who was the last Democratic Gov
ernor and Mr.. White, whose inauguration
takes place on March 4th, rank as the two
most pronounced aburn- haired Executives.
AGAIN UNCLE SAM has gone to the top of the
list in gold production, and the disturbed con-
ditions in South Africa indicate that the lead
will last for several years at least. The pro-
duction in 1899 of gold in this country was
ST. O53 400 and of silver $50, S5s, 700, prosper
fly item of the most solid description.
MRS. FRYE, wife of Hon. William P. Frye,
President pro tempore of the U. S. Senate,
died suddenly at her home in Washington, on
the Dist inst Her remains were taken to her
old home at Lewiston, Me-, for interment.
Out of respect to her memory the Senate ad-
iouFned until January 3D..
COLLECTOR STONE has perfected arrangements
A-a-A In0n EsN0