Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1905-04-26
.DEP0SITORS CAUSE
RUN ON THE BANKS
Excitement Intense In Milwau.
kee Over Defalca tion.
SHORTAGE is OVER A MlLLIor

Confidence Seems Hard to Restore in
Wisconsin city-PeopIe Line Up Be.
fore Paying TeIIer's Windows and
Demand Their Money
Milwaukee, April 25.-Despite assur-
ances that the Milwaukee Trust COM
pany was in no manner involved by
the financial trouble of Frank B. Bige.
low, former president of the First Ma.
tlonal bank of Milwaukee, and con-
fessed defaulter of more than a mil.
lion dollars, crowds of people today
were in line long before the opening
OF the Trust company bank waiting to
withdraw their deposits. The depositors
gathered at the National bank were
comparatively few at first but the num-
Der continued to increase. Bigelow
had been director Of the Milwaukee
Trust company, but when his defalca-
tion became known he was removed
as such by the board of directors. No
tees posted on the bank windows
which the depOsitors for the most part
working people, eagerly scanned, an
nounced this fact and that the Trust
company was abundantly able and pre-
pared to meet the demands of all de-
pOsitors and creditors.
The notices posted on the windows
of the first National bank and signed
by the directors that the company is
solvent seemed to reassure the depos-
itors somewhat
No depositors gathered at any OF
the other banks at the time they were
nevidence at the institutions men
tiored
Members of the clearing house as
soc cation expected the affairs of the
bank and officers of the other institu-
tions in the city expressed their con
fidence in the strongest terms in the
ability of the First National bank
to meet any emergency that might
arise. Henry B. Coll, cashier of the
First National bank, of Milwaukee,
who is charged by the United States
district attorneys complainants, with
embezzling sum exceeding 100000
of the banks funds, has not yet been
arrested United States Marshal
Thomas B. Reed, said, however, that
he expected to take Coll into custo-
dy today.
John l. B. Beggs, a director of the
First National bank and one of the
men VINO gave 100000 to make up
the defalcation of Bigelow, said that
the bank had today received $4,000
GEO from outside and local banks with
which to meet any demands. He as
serted that the bank had ample funds
to meet all the requirements.
AS the hour approached for the open
ing, the crowds gathered in front OF
the First National bank and the Mil
waukee Trust copany became larger
and extended for half a square on Wis
consin and on East Water street.
A detail of police was present to
maintain order. A report that Mr.
BlgelOW neld large amount or North
ern Pacific railroad stock was emphat-
ically denied here today. Inquiry
among brokers and personal friends
of the former bank president develop
ed that there is very little of that
stock held by local capitalists.
The First National bank of Milwau.
kee, and the Milwaukee Trust compa-
ny today decided. to take advantage
of the clause requiring that notice
Of 80 days be given before sums under
$100 can be withdrawn and a notice
Of 80 days On sums exceeding $100.
The pass books were so stamped when
presented at the bank windows. The
same rule applies to certificates of de-
posits.