The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-08-07

Riotous scenes attended the an.
nouncoment of the failure, and large
force Of police struggled all day to
keep the excited crowd ct depositor,
nearly all of them foreigners and
many OF them women, from rushing
through the doors of the institution
The fact that the bank was on the
verge of failure was first revealed by
President Paul c. Stensand, one Of
the absent officials. A letter to his
son Theodore who is vice president.
written from ST Paul and received
Saturday started the investigation
which brought about the suspension
Cashier Missing--Warrant Out.
Another sensational feature was the
disappearance of Cashier Henry w.
Herring, and the issuing of a warrant
for his arrest on the charge Of EN-
be2zlement
The first public intimat'on that the
bank was in trouble was the posting
Of notices at the beginning Of banking
hours by Bank Examiner G. Jones.
stating that business had been sus
pended for The purpose Of making an
of the banks affairs and
that the institution was In the hands
of the state aud tor
News Spread-Crowd Gathered.
4 he news spread rapidly through
the entire northwest side Of the city
where the bank had been for many
years a popular depository for funds
saved by the working people. Soon
a cIamorous crowd gathered before
the doors and demanded admission.
Anticipating trouble. a score of po
lice were sent to the scene. Th.
crowd steadily increased, but the peo |
pie were compelled to keep moving
Only those having keys to safety de
post waits were allowed to enter.
Many burst into tears when they
found Their savings were endangered
lr lost
0epositor Drops Dead.
Wiser, to whom the shock proved
atal, was several blocks from the
'ank Hearing the rumor he stepped
uto drug store seeking particulars.
ie fell dead when assured that the
Dank had failed. ,
Life Earnings Lost He Suicides.
Henry Koepke, a small grocer. on
caring the bank had suspended pay ,
lont, went to the rear OF his store I
nd hot himself He died In few
linutes while being removed To the
osptal A month ago Koepkc had x
epos ted his earnings of life time I'm ,
10 bank for safe keeping. In
Examination Of The banks affairs h
as begun quietly last Saturday after
le receipt of the letter from Presi
'ni Siensland Acting upon instrnc
ons, contained therein. Vice Presi.
'ni Sle1sland opened the deposit box
ld III covered proofs that the banks \
nds were IN had shape.
President Potter of the American
rust and Savings bank. which acted 4,
clearing agent for the defunct I'M
tuition. was called into consultation
N'''''t'i Mhn HUiIIlfE ana NN
'medialely sent Examiner Jones to
axe fun investigation
Disastrous Speeulstions. tc
The shortage is estimated between iI
10000 and $1,000 0da. Disasfrous ii
eculations IN real estate aud I'm the IL
cnrity market is said to have been cu
5ponsible. Members Of the clearing Ia
use committee were told that most
This amotnt WAS wholly uuproiec ca
by adequate collateral. w'
The institution Was known a. The
amily Bank" Ste~sland family
ned much of The stock and mem.
rs Of the family operated The naut
was organized iu 1891 with paid Z Th
lli7i of s2sooHo 4 statement made We
Vice Pres dent StcnsIand TODAY We
'wed sI.s'i.Hn1 cash on hand. Ha 'of
j the bank carried deposits of 81. IO
hoa and had 22.0on dep-sitor-. The ices
lsland bank vas not a member ef ih'
clearing house. but cleared -ho
'ugh the American Trust and sav the
s Bank Tho concerns Nea YORK a
rns Hondeuts woro thp Mercantile Jan
fFT IHa1. National WarIra ms