The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-16
Wonder If this legislature could pass a
thousand dollar bill?
Is LOOMS a Scapegoat?

The resignation OF Vice President.
LOOMS of the Standard Oil (National
City, bank is q confession that his deal
ings with Munroe & Munroe were of
such nature that the bank could not
stand for him any longer. But the
question remains whether Loomis alone
was in the "wash' deal with the Mum
roe brothers, or whether he is merely
scapegoat. Were Stillman and Rookie
Teller unaware Of his operations, or did
the failure and the resulting exposure
make it convenient to get rid Of him9
One Of the most conservative banking
journals in the east has denounced this
connection between the bank and the
Munroes as ga most miserable swindle'
and has demanded that the government
follow it. up to the. end. The handle
that the government has against the
bank is, the. alleged Decentralization of
checks, one Of the most serious offenses
against the national banking act. This,
if established, gives the government a
chance to proceed criminally against the
guilty officers of the bank or even to
recall the bank charter itself.
It is hardly to be expected that the
United States will proceed to such an
extent, but the tone Of, the banking
press is such that something is clearly
expected more drastic than the bank 8
merely purging itself of LOOMS.
The disclosures were most inoppor-
tune, as they came just at time when
the popular tide which had been run
ming with Lawson had begun to recede.
Reputable newspapers had begun to re-
fuse his advertising on the ground that
it was untruthful and a very high-class
journal had announced a series Of arti-
cles in which it promised to demolish
Lawson and restore confidence in our
fduciary brethren in Gotham. On the
strength of these utterances, the fnan-
ciers who had been very quiet for a
time began to come out Of their holes,
when 10! the leading bank of New York
comes along and furnishes proof Of more
Eserious charges than Lawson would have
dared to make. The bankers of New
York are travelling incognito once more
Honesty is the best policy even in high
finance, and a clean breast will have to
| be made before New York is proof
| against Lawson. r. ,-,-
Henry Jackson,. son of a. dc
farmer near Lyons, Mich, died raving
maniac forty-eight hours after his return
from the state agricultural college at Ian
sing. He went to the college the last
week in December to take a special course
in live stock studies, and was fatally
hazed by his loving friends. &5
| The car is said to be almost crazy. Il
started with his trying TO write the name
of a man he wanted to appoint to ar
office. On the third stk he felt faint anC
on the seventh ski he yelled bloody muir.
der and was put to bed in a nervous con.
! dition. f '@z
! .-sy s----------------------
There is one decided advantage in the
! Japanese method. Instead Of a Sampson
schley time, both Nogi and Togo stant
| aside and let all the glory be ascribed Il
the illustrious virtue Of the emperor. Wha
a lot of controversy that would have saved
4 us. "
Richard Croker had the nerve to outbit
the king of England for several horse:
that Edward wanted. Richard acts Xix
4 a man who was working up material 70
a press agent.
! Mayor Jones is apparently using tn
Sunday ordinance to enforce obedience b.
/ the saloons to his other behests. It is !;
very large stick with knots and thing
i on it. s5s