Omaha daily bee., 1908-02-27
DEPOSITORS TO GET MONEY
Assets of Green Mountain Bank sufi-
eient to Pay Up in Full
SOME QUEER F1NANC1ERNG
Railroads Find Themselves short of
Operators 10 Comply with Nine
Hour Law-Ice Gorge Threat
ems 20 Flood Des MOines.
fFrom a staff correspondentl

(From Staff Correspondent
DEs MONIES, Feb. 6.-(specisL)-At
the state auditors office today, It was
stated that the deposltors OF the Green
Mountain Savings bank would be paid in
full and that the Omaha people who
owned and started the bank had only sue
ceeded in getting away with the capital
stock and with borrowing $500 with the
$1,000 OF stock as collateral security. 1t
seems 10 be confirmed now that the scheme
was one Of 'kiting drafts"
Authority for the statement that the de-
positors will be paid in full is based on
the fact that Cashier St. Clair of a big
Marshalltown bank, went over the bills
receivable with Mr Roberts Of the bank
ing department of the state auditors
office, and pronounced the bulk Of It good.
Green Mountain is but a short distance
from Mhrshalltown. Cashier St Clair
knew practically all the signers OF the
notes and recognized their signatures and
offered to take the notes without recourse.
There is enough of this paper which he
pronounced good TO pay all the depositors.
DR.. McDairmied Of Omaha and the others
Interested with him in the bank were in
terested in other banks in Iowa There is
a suspicion now that the Green Mountain
That ls the money to start It was secured
by drawing a draft on one Of the other
banks and then drawing on still another
bank to coveE that. and so on.
The books of the bank seem to show
that McDairmied, E, L. Collins and Miss
Helen ]. Edwards, all of Omaha, loaned
themselves from the bank funds to the
amounts they had put up as capital stock,
and deposited sight drafts TO cover the
loans They then deposited other sight
drafts with the banks drawn on. and so
on. One of these drafts drawn on a New
York party, protested, and this broke
the chain and caused trouble
The stock of the bank was deposited
with the Black Hawk National at Water
loo and $500 borrowed on IT,
Wreck at Moran.
six people were injured and two cars
wrecked in a collision between interurban
cars at Moran Junction, thirteen miles from
Perry. this morning at II o'clock.
The Moran car was filled with passengers
and was on it's way to Des Moines
The Perry car also on it's way to Des
Moines, was standing at the Junction at
Moran. The Woodward car refused to
answer it's brakes and dashed into the
Perry car Both cars were badly injured.
Windows were broken and the people were
thrown about in confusion.
The following is a partial list OF the in
jured;
Motorman Richard. badly injured.
Mrs. viii Smith and baby of California,
Mrs VIII Todd of woodward, injured
Mrs. James Nolan, thrown against seat.
George sxbury thrown into window
May Have Been Murdered.
An Investigation is being made into the
death of George Harris, colored man
found near the tracks near Ankeny 1t is
learned that he started out with another
colored man TO walk to Ankeny and that
both were claimants for tho hand Of girl
OF Enterprise. The other man, James Sund-
erson, claims to know nothing, and even
denies starting to walk to Ankeny with
Harris.
Railroads After Operators.
Having abandoned hope of securing an
extension of time for the enforcement OF
the new law limiting working hours for
railway telegraphers, the railway officials
in Iowa are making strenuous efforts to
equip themselves With additional operators.
While many of the smaller stations now in
operation will abandon their telegraph
work. the various companies will require
several hundred additional men in order to
comply with the law, which goes into effect
March T.
Fear of Flood.
As a result of the warm weather and
rain which has prevailed here during the
last twenty-four hours, it is feared that
fourteen miles OF ice gorge in the Raccoon
river may break at any moment. causing
much destruction OF property in the low
lands of the city. In view of the impend-
ng danger the city officials today issued a
warming to all the residents in the lowlands
TO prepare to leave their homes at a mo-
ments notice. Many bridges and houses.
II is feared, will be swept away when the
break comes.
shaw Fails to Come.
Secretary Leslie NJ Shaw did not come to
Des Molnes today. Instead he went ia
Chicago and from there it is understood
he will go to New York Word was sent
to the Chamberlain hotel last night to re-
serve rooms for Mr. Shaw today. Today
the order Was Cancelled. But the word that
he was coming to Des Moines again
caused some little commotion among poll.