The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1905-12-21

ing 80. s0T, sea, OF which amount si5i.ooo
are deposits In trust n 100000 In
certificates ~ deposit.
mixed Up In Politics.
The Chicago National bank has been
an active factor In local politics for
several years and funds re-
I ccivcd from taxation for building and
maintenance OF the drainage canal have
been n part OF It's deposits and have
been available for Investment b. the
bank.
4 change was recently made In h
! political complexion OF the board and
Il was understood those funds would
not remain for amy length of time as
deposits In the Chicago National. Their
impending Withdrawal had much 10 do
with the fear OF other banks OF a far
rglching collapse II they did not come
20 the aid acknowledgment insiitu4pnsa
Where He Lest His Money. V
The enterprises which are generally
cfTAted Win being the Indirect cause
OF the financial troubles OF Walsh, are
tho Bedford Quarrics company. OF In
diana. and the Southern Indiana Rail-
road company. which was constructed
by Walsh for tho purpose OF getting
stone from his quarrics To the market.
Walsh was n heavy stoCkholdcr In
the Akron Gas company. Illinois
SouthrEn RgUYay company. Rand NG-y
. aHAAe NRfiNlaAg sWAAtAHA ~ AAtRtsAstA -
press compan and half a scoTe Of gas.
electric lighting and coal mining COM
Ridoely Was Patient.
To the stone quarrics and Southern
Indiana railroad. Wnish made repeated
heavy loans OF funds OF the bank. and
81 was these to which objection was
made by Comptroller Ridgely. Re-
pcatcd assurances By. officers or the
bank that these loans would be called
In or al least largely Curtuilcd, were not
fulfilled. Finally Ridgcly determined
or a personal Investigation. d ac-
ton last night followed his determine
ton.
II Is declared by local nnanciers that
Walsh has Invested all the way from
So 0O, 900 To Si5. 900. 600 In the qunrrles
and railroads.
Public Was Surprised.
News OF the difficulties surrounding
the banks came as u tremendous sur
prise To- the public. The nrst infor-
nation OF any trouble was conveyed
TO the people by extra editions OF the
morning papers. Two hours before
time for opening the banks large
crowds We're gathered I'm front OF the
Chicago National and Home Savings
banks, waiting for the doors To open
so they might withdraw their FUNDS.
Money Lay in Heaps.
Inside the banks ample provision had
been made for the impending run ana
money VAS laId out In large piles. Ad-
j dltional clerks were stationed nj pay
ing windows and arrangements were
made In other parts OF the bank TO pay
out money ak fast MS IL was called Tor.
The Home Savings has a right under
tn. state law.to DEMAND sixty days, no.
but II was decided not to- invoke this
rule.
John r. Walsh kept to home this
morning and declined TO sec anybody.
lie has not bean welLfor a number OF
days.
Excitement Subsidies. -
. Excitement over shc suspension Of
the two banks largely subsidized by IL
o'clock. There was no longer a crowd
around the Chicago National. Oftices
OF the Houb Savings are In the same
buildlnghs The Chicago National. Here
out toSibnySe street and hfty feet AScst
10 the Corner OF LaSalle. -
A large detail OF policemen was In
lCviJcngr and assurances of those who
had received their money that officials
eettic baTE asslas;d ~sYSTy6ody would
claims Nycre paid as quickly as pass
books were presented.
In tbs Chicago National there was no
outward cvidcncc OF "A run. although
money was being drawn out with great
rapidity. Many business men who
called we're told hat checks for the
. am fnt 'of.thcir 'b3lances would be &c,
'ctpted as dcpositg at other banks and
they departed without drawing out tho
actual currency. Small depositors
asked for their money and In every IN
r-stnnco IL. was handed To them.
At other bank there was no apparent
: Excitement and no evidence OF a run
upon any OF them.
y Al Other Banks Sound.
!, Charles G. Dawes. former comptrol-
isr Of the currcpcy, nor. .~prcSthcnt or
the Central Trust and savings bank,
declared there was absolutely no dan
..ga,;of amy other Chicago bank being
yiIfblvcd. nor Is there any other bank
lin financial difficulty.
: : Walsh,s Bank Holds Up. Q
psjford. INF pcc. lS.-Thc Bedford
of Chicago .iR pIssident. Is doing bust
'ness "-L-S1 tofIa -a< 49,
Secretary Shaw Gets News.
Washington. Dcc. iN.-Ssgctary Shaw
reseIyeiufr following, tai9sr1phlc re-
= ssS f&4sbm,Co Comptroller EiIgcly, CHI,
curn. IN ru7F1 cu,e to the failure OF the
Iarusy this morning:
Tile clearing house guaranteed pay
meaI.at. al liabilities OF the three
ftyp sstNhIfh VIII liquiaatE@apd pay
( everything IN flAE' opissfFyhnd .di-
rcifors will resign pnd'be replaced by
k~sGso4slriug hRgSc~ .TnInmittee and EN-
!. ugtrrr Euswurth. who will. EuU3S1he
banks ana condhct the NEUTRALITY-SUSPICIOUS.
2 shonla uiigvc the situation ana pre-
s YrSr44 trounls here Or elsewhere,
9" TOLD You so"--;T. R:
President Claims, His ViaSieasion IL
-ssrtA F6Hcase-spceiaI Counsel
Was Wrong:
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