The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1905-05-06

less NhAn SlNo were nOilNed iney C1nll
not have their money Tor thirty days.
and those who had over 500 were no
tifed Of the ninety day limit There
was much disappointment. but no bad
talk.
Take Money Into Bank.
One feature which did much TO put
an end TO the run was the spectacular
appearance OF Mayor Rose and Chief
OF Police Jansen with large bundles
OF currency.
Make way for as. we have S. 00O p
000." said Mayor Rose. He carried
large bundles OF Rreenbacks in his
arms. $4,000 he said. Back ~ him
came Jansen with a still larger load
and several bank clerks similarly bur
dened. A detail OF police guarded the
money, which was brought across the
street from the Wisconsin bank. II
was said that most OF the money was
furnished by local banks and business
men, but several hundred thousand
dollars came from Chicago.
AS soon as IL became evident that
the crisis was over. the three Chicago
bankers, ForGan, Smith and Hamill.
started for home
The expected run on other instltu
lions did not occur An unusual mum
her OF Withdrawals were made from
the Communication bank an institu-
ton patronized by the poorer class OF
people, but the officials said no trouble
was apprehended and they could pay
all claims.
Former Friend Is Spurned.
Some excitement was created by a
report that the National Electric com
pany was IN trouble This Is a heavily
capitalized institution OF which Frank
S. Bigelow is vice president Prompt
measures were taken 20 allay appre
hension The directors were called
together and went over the books
At the conclusion of the examination
Attorney Charles Quarlcs said I'VE
have made trial balance and II
shows large surplus
Asked II Mr. Hirelow would con
tinue as vice president. Mr.. Quarles
said his resignation from the directory
was under consideration
Blgelow. who has had a finger In
nearly every financial pie in Milwau.
kee. is being dropped by every con.
ceru on which he served as director.
At meeting Of the directors OF tho
Northwestern Mutual Life Insurance
company he was dropped from the
directory
Bieelow also was asked TO resign
from the directory 81 the milwaukee
Press company.
Printed notices were posted on the
windows Of the Milwaukee Trust com.
rany saying Frank G. BiGelow no
longer was director OF that com.
pany
sookkeeper Bird Is In Hiding.
James Bird n hookkooper whose tip
enabled the directors Of the bank To
discover the sl.400.000 defalcatlon. Is
being sequcstratcd for fear his cyi.
dcnce otherwise might not be avail.
able when the BiEolow case comes up
before the federal grand jury In May.
Bird could not be located AT his
home, 20 Thirteenth street. though II
Is known that he gave evidence 10
National Bank Examiner Charles II.
Ecsworth. Mr. Bosworth would not
give out any statement concerning the
Kramer Of Blgolows operations as re.
yealed by Bird.
Birds evidence, supported by that
81 another bookkeeper, whose name
tas not been learned, Is expected To
convict Blgelow OF violating the ma.
tional banking laws, the penalty for
which Is from five 10 ten years i'm.
rrisonment. one OF the directors said
OF Bird:
we need his evidence"
President J. w T. Lombard OF the
National Exchange bank and also
president OF the Clearing House asso.
cation. admitted that Bigelow and
Coll had been assisted by a bookkeop.
or, but would not give the latter's
, name.
Detection Inevitable.
THE man simply did as he was
told" said Mr. Lombard. and dom
believe be can be held responsible. An
the transactions were disguised In the
larger accounts Of the banks of out.
SIDE cities.
They eventually would have been
discovered. as Mr. BlGclow knew bet.
| tel than anyone else IL would have
been some time before they would
have been Uncovered however. had
the cullusion between Mr. Bgelow and
I tho hook gtuprg bgqu rppnuI.Ja Wa
satisfied ourselves that there was such
I collision the entries being concealed
through the aid Of Assistant Cashier
I Coll and one OF the bookkeepcrs or by
/ the president and one OF the book.
( Keepers or course the boOkkecpor
relied implicitly upon what President
I ngclow told him 10 do. and this made
q possible for the entries to be made
CT the books.