Hutchinson gazette., 1902-01-23
BANK FURRY.
Considerable Excitement and Some Signs Of
q Run But Everything seems SOIld.

There was some excitement around
the State Exchange Bank Wednesday
morning and at times II looked a good
deal rs though there would be u run
In dead earnest on the bank, II was
not surprising that II was so when II
became generally known that the
president, willis Baker, had turned
over practically all his effects TO the
bank and started to Chicago TO find
work for his living.
Such reports which were confirmed
by the bank were naturally diSQulet-
Ing to those that had money In the
bank, especially those that had been
pinched by the bank failures In the
past In this city,
Next morning when the bank open
cd 1t was with new officers and new
faces behind the desks, Qultea num-
her Of people appeared and commenced
caShing their accounts. W, y. Nor
gan was In the bank and was intro
duced us It's new president, TO n rep
resentatlye Of the Gazette Mr.. Nor
gan made n statement substantially as
follows Mr.. Baker while he was
president had made loans to the
Bontz elevator people aggregatlng
about $4,000 ,and also some on the
Shaw Theatre which now amounts to
about $4,000 which the directorate OF
the bank refused to approve and in
sisted upon holding Mr., Baker re-
sp0nsible for. Mr. Baker finally adj
mitted his own personal liability in
the matter and decided that the only
way he could assume the obligations
would be to sell his stock to pay 1t. lie
therefore came to Mr., Morgan as a
friend and asked him to buy. Mr..
Morgan had one Of the deputy bank
examiners, Mr., Davis, to come here
and put in Friday and Saturday of
last week In going over all the ac-
counts so as to make n thorough re-
port on the solvency Of the bank. He
reported that the bank was in good
condition aud that It's stock should
be worth more than par, As Mr.
Morgan had the money he purchased |
$4,000 Of Mr.. Bakers stock and Mr.. |
Walter Jordan who lives in the north
part of this city purchased the other
$4,000 This in brief is the statement
OF the bank officials
On the statement that they had ar
ranged with the First National to
cash their checks, the Gazette repre-
sentative called there and was in
formed by w. II. Eagan, the cashier,
that his bank had been authorized by
the American National bank of
Kansas City TO pay the Exchange
bank 800, 600 and instead Of sending
the money all over they were paying
their checks when presented Mr..
Eagan said that the bank had
enough cash Of its own to come with
in about $4,000 Of paying Off all the
deposits when taken with the $780,
900 forwarded by the American Ma
tional, and that If it should become
necessary, his bank, The First Ma
tional of this city, would let them
bnVp tbnt nmpuDt
So If there is anything at all to be
relied on the word of these bankers
the deposits of the people are per-
fectly safe. ss- '... - .,,.,--
But 1t has been hard piece of bus
mess for Mr. Baker, and if it is as
the ollcialS of the bank say, he play
ed an honorable part in using his own
personal property, and Just about all
he had in making the bank secure
against loss OccaSioned ,by his bad f.
&,
OF course this is,the banks state
ment and no other is obtainablc. But ,
it would appear to be satisfactory. {
However everyone should be his own !
Judge 1t was satisfactory enough so 6
that a small deposit from this Office .
was allowed to remain.