Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-06-03

H96 {Al4uTej oWHeF quit BUSINESS oH
account of age. He Is rich man.
Mt Ayr - Citizens' bank. Failed on
account Of bad management and bad
loans, but not to farmers.
slgourney eigourney Savings
bank. The cashier took $4,000 and
used Il In speculation on the board
Of trade, and when the discovery was
made, shot himself. The bank paid
out.
Holste,n - F. H. Mccutcheon &
Co.'s bank. speculatioas on the board
Of trade.
Corning - Corning State Savings
bank. The proprietor Of the bank used
the funds as his own and when the
discovery was made killed himself.
Pella = Peoples Savings bank. Sus-
pended but in settlement paid out.
Coin - Bank Of Coin. Broke up on
account of bad loans. Banker specu-
lated on board Of trade.
| Garden Grove - Farmers bank.
Speculation on Chicago board Of trade.
| Maquoketa - Exchange bank. Brok-
en- up on account of dishonesty, shift
lessness and extravaganza.
Pleasanton - Royal Richardson &
Co.'s bank. Broken up on account of
speculation.
Dixon - Bank of Dixon. Broken up
on account Of embezzlement by the
banker and his son.
New Liberty = New Liberty Saw
ings bank. Broken up by loaning mon
ey to theatrical syndicate in Chicago
and by speculation and extravaganza
on the port of the manager.
Imogene - Citizens bank. This
bank did not fall cashier skipped and
his father put up shortage and bank
dourishes.
Birmingham e H. Skinner &
Co.'S bank. Failed from bad manage
ment. Banker now under nine indict-
ments.
olin - Bank of DIN. Broken up by
speculation.
Buck Grove - H. S. Green's bank.
Banker skipped with the money.
Dow City - H S. Green's bank.
Failed on account Of speculation. and
banker skipped.
Wayerly = German-American Loan
and Trust Co. Failed, but paid out.
Curlew - Bank of Curlew. Did not
fail; moved to another town.
GAIA = Bank Of GAIA. Did not fail;
SOlQ out anu moved away.
Little Sioux - Little Sioux bank.
Failed on account of speculation; pres
'ident was a farmer and feeder and
Spectator; finally paid out.
Tiff1n - Corn Exchange bank. Did
not fail; was the private bank and in
corporated under the name of Tiff1n
Savings bank
Emerson Farmers bank. This
bank never failed. 1t was consoli-
dated with another bank under name
of Emerson state bank
Sheldon-Sheldon state bank. This
bank failed on account of politics and
bad business methods.
Ireton-Bank of Ireton. Failed be-
cause it had no capital; manager was
a cranky man, and lost money in a
brick plant.
i Ireton - F. M. McKeever's bank
There was no such bank The bank re.
ferred to was the Bank of Ireton.
| Germania State bank This was
one of the w. r.. Brown banks and
was loaded with northern and Canad-
ian lands, hence dts failure
Colfax - Bank of Colfax This bank
failed on account of speculations on
the board Of trade; the cashier sui
cided.
Royal - Bank Of Royal This is one
of the W. E. Brown banks and failed
on account of speculations on the
board Of trade.
New Providence - O. E. Miller &,
Sons bank. This firm kept store;had
small capital; for various reasons lost
public confidence and failed.
inv, II
This was one of w. E. Browns banks
and failed on account of the specula.
ton upon the part of Brown; Main sui.
cided.
Grinnell = National bank. Failed on
account of misuse of funds by the
Spencer family, extending over pc.
Rod of years; Spencer and son were
drowned, either by accident or inten.
ton.
Storm Lake - National bank. This
was w. E. Browns oank and failed
on account of Browns speculations;
Brown Is under Indictment
LIE Mars National bank. This
bank failed about the year 1900. and
the cashier was convicted of embezzle
ment. The bank failed for want OF
public confidence and on account OF
bucketshop speculations by cashier.
In some cases it will be seen that
the banks were not failures, but were
incorporated with others But in spite
of the fact that the story is entirely
wrong it is allowed to go out over the
country and exert an influence danger.
GUS to Iowa and her real estate inter.
ests. The fact is that loans to farm
ers in Iowa are sought after nv com.
try bankers and are valued by them
There is a great deal of legitimate
and truthful ground upon which to
fight the beef trust without damaging
the reputation of the Iowa farmer.
According to the magazine article
Senator L. w. Lewis of Page county
is quoted as authority for. the state
ments made by Mr.. Russell The Des
Moines Capital wrote to Mr.. Lewis
and received the following in reply: ~
am of the opinion that the Iowa bank
failures are due to downright rascal.
Nv ,fefI