Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-04-27
BANKS ARE
SOLVENT
TWO INSTITUTIONS IN WHICH, sIeE.
Low WAS INTERESTED ARE
PRONOUNCED SOUND.
DIRECTORS NOT ANXIOUS

After Examination Of Affairs of Both
Banks, Announce That They are
ReIiabIe-MilIlons of Dollars on Hand
Milwaukee, April 25. - The run
on the two banks ceased entirely
In the afternoon and business in
these institutions was resumed
under normal conditions.
Milwaukee, April 25.-Despite the
assurance Of the Milwaukee Trust
company that it was in no manner in
volved by the financial troubles of
Frank G. Bigelow, former president of
the First National bank, crowds of peo-
pie today assembled long before the
opening of the trust company bank to
withdraw their deposits. The deposi.
tors gathered at the National bank
were comparatively few at first but the
number continued to increase during
the morning.
Have Plenty of Funds.
Bigelow had been a director of the
trust company, but when his defalca.
ton became known he was removed
as such by the board of directors. No.
t1ces posted in the windows of the
First National and Trust company's
banks announce that both institutions
are abundantly prepared to meet all
demands of depositors and creditors
There Is no evidence of any trouble
at any Of the other banks Of the city
No Fear of Run.
John Beggs, director of the First
National, said the bank had today re.
ceived S2,000000 from outside and To-
cal banks with which to meet any de-
mands. Beggs said the run would
probably continue throughout today
but that beginning with tomorrow
after having shown the stability of the
institutions, the excitement would sub
side.
Many Withdraw Deposits.
AS the hour approached for the open
ing of the bank the crowds in front
Of each bank became larger and ex
tended for half square A detail Of
police was present to maintain order
Both institutions decided to take
advantage OF the printed clause in the
pass books regarding all savings de
posits requiring that notice Of thirt,
days be given before sums under $10(
can be withdrawn.
Clearing ouse Examines Books.
The offie n: of the Milwaukee Clear
ing House association today issu ID {
statement saying that after examining
carefully all the assets and col
lateral Of the First Nationa. bank the,
are satisfied that the bank is per
fectly solven.
Prominent In Milwaukee.
Frank G.. Bigelow's name as bank
er and financier was national, ant
locally no one was better known soci
ally or in business way. He wal
prominently Identified with variou
companies, commercial associations
and clubs. In private life he create,
about himself an ideal home and wa
noted for the extent and frequency o
his charitable benefactions. Their
was no business venture of any siz
entered into in Milwaukee that he wa
not consulted about. and his connec
tion with an enterprise was taken a
evidence of it's intrinsic worth.
Until last year he was president O
the Bankers National association, an
at its annual meeting in New Yor
last summer received marked after
ton from the greatest financiers i
the country. He is still at the head G
it's executive committee.
He is trustee of the Northwestern
Mutual Life Insurance company.
member of it's executive committe
and Of it's finance committee. He ha
been associated with the Nationa
Electric company since it's inception
and was one Of it's heaviest stool
holders. Other corporations in whic
he had considerable stock were tn
Milwaukee Trust company and tn
North American company, controllin
the street car lines in st. Louis, Mi
waukee, and other cities.
He was formerly vice president {
the Wisconsin Telephone compan.
and is still stakeholder of that organ
ization. His name appears on tn
membership rolls of the Milwaukee
chamber of commerce and the Me
chants and Manufacturers associ1
connected with number of lesser o
CARNATIONS.
Largely Interested in Mining.
He had immense holdings in lare
number of mining companies and wa
engaged in a number of other outsid
business enterprises. He was alway
ready to interest himself in new ente
prises and the number of investment
was such that his money was sea
tered among large number of con
panies.
MULLAN GIVES AN OPINION.