The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1903-05-07
President Of the KenOsha State Bank
Personally Looks after the Settle
ment OF Checking Accounts.
SAVINGS ACCOUNTS MUST WAIT
Bank win Claim the Time Limit ON Saw
ings Accounts and Certificates of De-
pOslt-LOts of Money In sight at Bank.

81 got mine" is the favorite song
down around the bank cornerthis morn
ing as the Kenosha State Bank began
to pay off creditors. There was little
rush abont the bank but the window
was kept pretty busy cashing the
checks of the former depositors.
All arrangements for making the
payments were made on Saturday
evening and when the bank opened
at the regular hour this morning the
paying out started. There was a look
Of opulence about the bank. The mon
ey racks were well filled with silver
and the money drawer was simply
over crowded with the large stock of
good green backs. More than three
thousand dollars had been placed on
the counter to provide for the demands
of the day and from the way the de-
positors were arriving it is probable
that every cent of it will be needed.
at nine O'Clock President r. S,
Komp personally appeared at the win
dow of the paying teller and the settle
ment of accounts started. Former Re
ceiver Henry Jordan was the first man
to appear at the window and he was
closely followed by o. M, Calkins As
soon as these men had been paid the
line became steady one and seven
and eight people we're waiting at
time. There was lots of good natured
bantering but there was nothing that
could be considered a run during the
morning hours. President Komp per-
sonalIy paid all accounts and took re
ceipts ia full for the amounts. All the
time Special Agent Bowen of the De-
post and Fidelity Company kept a
close tab on the paying out of the
money.
Only checking accounts were recog-
nized for payment and it appears that
the bank will claim the right to with
hold payments on savings accounts
for the period of thirty days as allowed
ia the contract with depositors. No
official announcement has been made
ia regard to these accounts but sever
al of the depositors Of savings called
and we're notified that they could get
their money on giving due notice of
their desire to withdraw the accounts.
Cashier Frank L. Ma1oney was not in
the bank during the day and it is said
that he has accepted another place in
Chicago.
No move has been made TO accept
deposits and Mr.. Komp has not an
nounced his determination to reopen
the bank when the depositors have
been paid off.
The paying off of the depositors will
be continued as rapidly is possible and
it is expected that all will be paid with
in the present week.
The payments have been made free
ly and there has been no bubble ia
regard to amounts. The bank simply
insisted on the balancing of the &C
counts and as fast as Teller Melville
completed this work the money was
paid out. 1t is learned from inside in
formation that the bank still has con-
siderable money on deposit Ia the Corn
Exchange Bank and this is probably
being held back to pay the savings ac-
counts when they fall due.
OF course all classes of accounts are
fully protected by the bond filed by
President Konp in the circuit court
and it is only matter of time until
all will be paid.