The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-08-07
! Avenue State Insti-
VI Chicago Has Its
! ')oors Closed.
,sFHE HIGHEST
'lICIALS ARE MISSING
Die Comprise Most of
tors; One Man Dies
From Shock.

sS, Aug. 6.-With q deficit IN
EMS estimated at close to a
J. ars and with the where
Hwo of its highest officials
s. the authorities, the Mil
~ nue. State bank, one Of the
.. = ,ing banks in the city, was
~ by State Bank Examiner
,m ne In the excitement follow
ks close, j. c. Wiser, an
Se Royal league, who had on
.s,he bank funds Of that or
fell dead of heart failure.
u Scenes OF Riot.
~ tcenes followed the announce
shs, failure and q large force
nap:uggled all day to keep an
-hs<fd of depositors-nearly all
Hls eigners and many of them
Hlr,m bursting in the doors of
h sion. The fact that the
aian the verge OF failure was
hs I'd by President Paul 0.
d me Of the absent officials.
As. his son, Theodore, who is
It, written from st. Paul
VI last Saturday, started an
peg \, which brought about the
IN Another sensational fea-
as affair was the disappear
"a scashier, Henry W. Herring,
ih hing of a warrant for his
nT charge Of embezzlement. A
M tering his apprehension was
~ sry police station in the
noorers Are Losers.
blic announcement that the
@ia trouble was the posting
Fat the beginning Of banking
A., INK Examiner C.. c. Jones,
-. business had been sus-
sthe purpose of making an
~ I of the bank g affairs, and
=, INTUITION was in the hands
M. Auditor. The news spread
r., -.lghout the entire northwest
~ - + city, where the bank has
n. -rs popular depository for
~ - by working people. Soon
y ~" :, crowd gathered before the
emanded admission, Anti
,s 4. able, a score of police were
- he scene.
,.sle were permitted to file
prs bearing the posted no.
re compelled to keep NOV
o.Lthosc having keys to safe
.a~ It's were allowed TO enter.
st into tears when they
'as their savings were endan-
st. Wiser, to whom the
dE ID fatal, was several blocks
v5.nk- Hearing the rumor, he
,M ~ O drug store seeking par
-. - o fell dead when assured
AZ ~ TX had failed,
-. 1ation of the bank IS affairs
~ quietly last Saturday, after
l1ls ,, the letter from President
.s s Acting upon instructions
W. erein, VicePresident Theo-
m.lnd opened deposit box
o%-ed proofs that the bank g
guy In bad shape. President
oE;e American Trust and Saw
az which acted as clearing
ale defunct institution, was
PHa consultation. The State
MA notified and immediately
,.,5xaminer Jones TO make a
a1. ,Ms, alton.
.a age is estimated to be be.
MaMp00 and $1,000,000. Disas-
Tyation in real estate and In
y u. market is said to be re,
W. Members OF the clearing,
% ittec were told that most
INT was wholly unprotected
D collateral.
ss,a "Family Bank
DsGuitution was known rs q
b nnk-' The Stensland fam,
v;srs well-known residents OF
Eld EST side, held much Of the
nal members OF the family op
tA foank. 1t was organized in
h,ryst paid-up capital Of $3.50,
''' lcceeded the banking firm
db ? Stensland g. Co. A state
,y Vice President Stenslant
out: Fed 81 ,05l, 900 In cash or
pblI ,aid that the bank carried
BIZ md had 10000 depositors
Ind ead bank was not q member
ID Y Barring house. but cleared
~ American Trust and Saw
Ia n The concern IS New Yorl
dht' It's are the Mercantile an(
bb ? Rational banks.
dss sement Of Examiner.
nss, State bank examiner, wht
ling the affairs of the insti
s1r< Tonight:
Ike at least u week before
Eng position TO make q reliabl,
.tbf the affairs of the bank
eI have discovered. however
mhed the investigation. an
rpn that some OF tho ofIicial
ra >1tion nre responsible for th'
~ suspendlug business, Whel
Bbv tlon OF the books is com
rra Ink II will be found tina
~ ring is not entirely to blam
;.ia5slng OF the doors. Will
sHt vlbeen reports that Herring
= "a t1g the funds OF the bank 70
lJss fIonal benefit. / am not pre-
IL present time TO state tina
hT,f.5 fact. On the other hand
- 'elleve have found enougl
lere In making the statemen
p's has been some Juggling O
Gtps tinds. and that Cashier Her
TBw the only one that is in
"
|itp Faith in Reopening.
9uD bank opening for busines
f.. only say that when a Chi
grils and the doors are close
eee,1tfy stay closed. and ] don
p Milwaukee Avenue bank vii
p' N ption TO the rule.
'E1the securities held 0y tn