Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-08-17
Creditors of the Failed Citizens
Bank of Mt. Ayr Employ
Counsel
THEIR INDIGNATION IS GREAT
Depostors Will Not Realize More Than
rs Cents on the Dollar, While the
Dunnings are Alleged to Have Saved
Fortune Out of the Wreck-Makina
Binding Irvine.
Special to Times-Republican.

Special to Times-Republican.
Des Moines, Aug. 17.--V. r. McGin-
mis-, of Leon, has been employed by 81
committee of the creditors Of the fail
ed Citizens bank. Of Mt. Ayr, to assis,
in the prosecution of the Dunnings.
owners of the bank, and in saving from
the wreck all possible for the people
who lost. Judge Towner, of the dis
trict court. had upon request of the
creditors, appointed l.. w. Laughlin as
a special attorney to look after the
prosecution of the case inasmuch as
1t was found that the county attorney
had been acting as attorney for the
bank. But the creditors held a big
public meeting to discuss the matter,
and it was decided that a stronger
force of lawyers should be employed,
and they sent over to Decatur county
and employed Mr.. McGinnis for tbs
work. 1t has been decided that no
arrests Will be made at this Tins.
Many of the depositors We're in favor
of having the pank owners taken be-
fore a justice and placed under bonds
to await the action of the grand jury.
but ii was found that they were under
such obligations that 1t was not likely
they would try now to escape. Indig
nation was manifest at the mass meet.
ing of creditors. and a committee was
appointed to handle the whole affair
as might seem best. 1t is felt tha.
il the responsible persons should make
an attempt to leave the state violence
headed of those who hay tsunered s.
much from the failure, rs rxsgyTy,,s's z
When the Citizens. bank afled II was
believed that the depositors would no.
have great losses, and they were as
sured the bank would pay nearly als
the loss The deposits amounted to
about 1922. 900, and this included fodgs
money church money. cemetery funds
and the savings of many poor persons.
Now that 1t is found that the bank can
hardly pay more than 25 cents on the
dollar there is great Indignation, and
the suffering to the business Of the
community IS terrible
That which has aroused greatest In
lignation is the fact that the owners
of the bank continue to live In extrav>
agant style. A costly house was savea
by them from the wreck as home-
stead and they have not retrenched in
expenses in the least
The bank was not Incorporated and
the prosecution OF the case will there's
fore be the more difficult. No re-
ports were required and the bank was
not subject to examination. It's con-
dition in the past cannot be fully
known. That 1t was In bad shape for
a long time there can be no doubt. For
travagant interest on ordinary depos-
it's, and in some cases was paying as
high as per cent for sight deposits.
II am very we'll pleased with the
speech OF Judge Parker in responding
to the notice Of his nomination" SAID
James NJ. Parsons, Of Rock Rapids las:
evening. He appears to have said the
right things and no more. He has had
great opportunity for making mistakes.
1t would be easy enough under the
circumstances for him to blunder. Blu,
he has not done 50. He Is tact itself.
want to tell you that II Judge Par
ker wrote that famous telegram all on
his own motion. and have seen moth
ing to Indicate anything to the con-
trary, Dave Hill can't give him any
pointers on politics. That was as
clever a piece of work as has ever been
done.
Il have been greatly pleased in read
ing over the decisions of Judge Parker
as they appear in the law reports
One cannot read them without being
impressed with the fact that he is a
great broad-minded man. He has
shown the wonderful faculty Of get
ting at conclusions without straining
the law and making his decisions dove
tail in with common sense and right
and justice. 1t will repay any lawyer
to read his decisions and see what
manner OF man he is.
1T is not by any means certain that
will be elected. neither Is It
q cinch for Parker. There are ele-
ments of doubt on both sides. tho OF
course Roosevelt has the greater adj
vantage. The fight is all going to be
In the few states which are regarded
as necessary"
do you see any signs Of an awaken
ing among republicans in regard to the
issues?"
Yes" said Mr.. Parsons. They are
coming to realize the Importance of the |
tariff issue. They are already dis
covering that they must give definite
promise Of something to be done in re-
gard to the tariff schedules and are
paving the way for campaign along |
that line. One thing is certain, II the
iowa MIA tform which was offered to the |
republican platform makers at Chica-
90. the platform which was genuinely |
standpat, had been adopted by the re-
publieans as their national platform
this year and they had stood squareiy
upon it, nothing could have prevented |
the election of Judge Parker. lie