Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-25
Crowds Of Them We're on Hand
Early to Withdraw Their
Money,
TIME NOTICE IS DEMANDED.
Clearing House Issues a Statement
That the Bank is Perfectly
SOlveEt.

Milwaukee, Wis, April 25-Despite
assurances that the Milwaukee Trust
company was 81 no manner inVolver by
the financial troubles Of Frank q. Bige-
low, former president Of the First Ma
tional bank Of Milwaukee, and con-
fessed defaulter Of more than a million
dollars, crowds today waited long be-
fore the opening Of the trust company
bank to withdraw their deposits. Bige-
low had been a director Of the Milwau-
kee Trust company, but when his de-
falCation became known he was re-
moved as such by the board of direc-
tors. Notices posted on the bank win
dows which the depositors, mostly
working people, eagerly scanned an
nounced that the trust company was
abundantly able and prepared to meet
the demands of all depositors 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 deposit
tors somewhat
John |, Beggs, director Of the First
National bank, and one of the men who
gave 100000 to make up the defalca-
ton Of Digclow, said that the bank had
today received 100000 from outside
and local banks with which TO meet any
demands made on the bank. Mr., Beggs
said that the run would probably con-
tinue throughout tolay but that be-
ginning with tomorrow after having
shown the stability Of the institution,
the excitement would subslde lie as
serted that the bank had ample funds
to meet all requirements.
As the hour approached for the OPEN
ing Of the bank the crowds gathered
I'm front of the First National bank and
the Milwaukee Trust company became
larger and extended for half a square
on Wisconsin and on East Water
streets A detail Of police was present
10 maintain order,
The First National bank and the Mil
yankee Trust company today decided
60 take advantage of the printed clause
I'm the pass books Of an saving deposits
requiring that a ittice Of 30 days be
given before sums under 500 can be
withdrawn and a notice of 90 days on
sums exceeding 800, The pass books
were so stamped when presented at the
bank windows. The same rule applies
to certificates Of deposit
At meeting Of the Milwaukee Clear
ing House association today the fol-
lowing statement was issued'
ISOLATION. after examining carefully all
the assets and collateral OF the First
National bank OF Milwaukee, reports as
a result from such examination that
they are satisfied that the said bank is
perfectly solvent and able TO pay its
debts"
\ report that Mr. Bigelow held large
amount OF Northern Pacific railroad
stock was emphatically denied here to-
day Inquiry among brokers and per-
sonal friends Of the former bank presI-
dent developed that there is very little
of that stock held by local capitalists.
Henry @, Coll, assistant cashier Of the
First National bank OF Milwaukee, who
Is charged I'm the United states district
attorneys complaint of ombezzlng a
sum exceeding 100000 Of the banks
funds has not yet been arrested. United
States Marshal Thomas Breed said
however, that he expected to take Coll
into custody today.