The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-21
FoReAN FoRegrs.

1 q, -. organ, pfthlIcll o. ne HlfSl
National bank. Chicago made few
predictions CT voc IN the event Of VII
liam 5enings Bryan being elected
president
Alr Forgan processes to have falin
IN The Rooscveit-Taft propaganda
and still not many years have elapsed
since Forgan faced ruin and his much
boasted banking ability was worth
'ess than one cent on the dollar.
All remember the awful Walsh fell.
IRE and the Chicago National acandal.
The night It was known the bank
would not open in the morning there
was a conference.
J. D. Forgan was the head OF tkat
coference.
Another member OF the great bank.
ing crowd Of Chicago was james Eek.
els, former comptroller OF the carreR.
cy.
lie, loo. wGs president Of bank
There were many others present
Walsh was adamant!
Nv iNiuHcu 10 We the SctpSEOal oil
Chicago banking rottenness!
lie told the commercial world OF
Chicago he was willing TO stand for a
allure, but the s4G0OO.OOO he owed 10
The depOsiling public must be paid
This brought out The steel trust!
The railroad element glso assem-
blcdi
The board of trade gamblers also
isscmblcdi
The meeting WAS held over the First
National banking ROOMS and Mr. For
gan was The host, having invited the
conference.
Unless mcmory Is bad With some
nrescni that conference agreed
Nalsh's depositors could be paid and
hat the great funds Of the Chicago
Nalional would be met with the de.
l1slted millions IN the Forgen bank,
When an agreement was arrived at
was found the First National could
iot meet the draft
Nor could the clearing house guar.
ntcr what II had not the fund to make
.o0d With
Marshall Field offered his check for
million and the publication OF the
anne saved Chicao!
Mr. Field died not knowing the check
ie offered was on bank that could
OF nave raised that, much cash In
ay's hard hunt
Since that time Ecaels committed
micide and the banks OF Chicago
overed up the scandal, making that
ank good
The night that conference was held
II the banks In Chicago If the little
nes were taken in. could have made
good"
But no one knows better than For.
an that the big men, those regarded
$ always ready, could not have paid
4 cash the magnificent sum Of ten
'nts on the dollar
Mr.. Forgan reaped much glory
rom that deal. He was entitled to a
less of pottage that had been refused
the commOnality.
Marshall Field. patriot and philen.
lropist saved Chicago gnd STAYED OF
panic for two years.
Within a year Chicago's great First
ational bank drafts for as much es
600 have failed to be worth dol.
ir meal in the hotels OF the West.
I'm Mr. FOrgan says he needs no rs.
istance TO restore contidenccl
lie Is great man la the world OF
nance-among the suckers who ma
helsance to name.
Suill had not the great Field lived
nj breathed his very life into Chica.
o Forgan would be retired, and God
lone knows what would have happen.
d.
Walsh VIII never be sent to the penl.
snuary lie knows TOO much 10 be
epOs'ied there where there is a
hance he would say his little piece A"
Forgan is great man. He controls
lilions of the dollars OF many OF his
rites, but he aged every biz OF thirty
oars In one hour, and he should tell
that hour before jumping into the
imelight