The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1914-06-19
FOUR BANKS CLOSED
LORIMER INSTITUTIONS IN I'LL
NOiS SHUT BY STATE
EXAMINER.
HAD DEPOSITS OF 100000
Majority of DeposItors Are Business
Men and Little Excitement Is
Caused-Other Illinois Banks Face
Investigation.

investigation.
Chicago, June 13.-Former Senator
William Lorimer's bank-the LaSalle
Street Trust & Savings-was closed
by Bank Examiner Daniel V. Harkin.
owing depositors nearly four million
dollars which it was unable to pay
on demand.
The action disclosed that since
June l nearly one million and half
dollars have been drawn out by depos-
itors who had a suspicion of the con-
dition of the institution, while very
little money has been deposited.
Three other state banks outside the
loop. fostered by the Lorimer insti-
tuition. also were closed pending an
examination by the auditor.
They are the Ashland-Twelfth bank.
at 1000 West Twelfth street; the
Broadway State bank, at Broadway
and Wilson avenue. and the Illinois
State bank. at West Kenzie and North
Clark streets.
Other Banks to Be Probed.
The state auditors office. which Mr..
Harkin represents in Chicago, has ex-
tended the investigation. Four down
state banks. all dominated by Mum
day, are to be investigated by bank
examiners. They are:
The Farmers bank Of Bethalto,
Madison county.
The Citizens State bank OF Alham-
bra, Madison county.
The State bank of Oconee. Shelby
county.
The Bank Of Marine. Madison
county.
With the exception of the Alhambra
bank all these banks are headed by
Munday. ALI are capitalized at the
same fgure-$25, 900.
The board of trade firm Of Sidney
Long G. Co. also failed to meet Its
obligations as a direct result of the
closing of the Lorimer bank.
Bank Examiner Harkin declared
there was no political angle to the
closing of the bank.
Bank Under Surveillance.
Il have had the bank under survell-
lance for six months" he said. L
found that it did not have enough
quick assets, and told it's officials they
would have to clean up. / think the
institution is solvent. and that depos-
itors will be paid in full. but l did
not consider it safe to permit the bank
to open.
81 closed the other banks for their
own protection until an examination
can be made l think they will re-
open very soon. What the LaSalle
Street bank will do l cannot say un-
til we complete the examination,
which will not be before Monday
There was little excitement. Most
of the depositors were business men.
Munday Heavy Stakeholder.
A list Of the stockholders of the
bank shows that Vice-President Mum
day is the heaviest stakeholder with
2.6O6 shares. William Lorimer holds
900 shares; .Iohr F. Jelke. the but
terine millionaire, recently convicted
of "moonshining." $50; Thomas NJ.
Jett. Hillsboro, ILL.,. 500; L. L. Bac-
| chus. former chief clerk in the state
auditors office, who resigned to be-
come vice-president of the bank, 100;
D. |. Felsenthal, 179; II. W. Huttig,
Muscatine, Ia. president of the Rose
hill Cemetery company, $50; John X.
Seagrave, chief clerk in the state aud
itor's office, 20; former Congressman
William j. MoXley, 4O4; Elbridge
Hanecv. so; Shearson, Hammill &
Co. 200: George o. Gunderson, father
of Mrs. Leonard Lorimer, daughter
in-law of the former senator, so, and
former Senator Albert j. Hopkins, de-
feated by Lorimer for the senate, TO-
Former Senator Hopkins also is hit
bv the suspension in another direc
ton. his bonding company, the Hi
nois Surety company, having guaran
teed the city's deposits to the extent
of $4,000.
The immediate closing of the bank
was precipitated. it was said, when {
demand was made on the banks off
GERS for s65O,000 of city funds. The
hank was unable to meet the demand
and the bank examiner took charge
The three smaller banks cleared
through the Lorimer institution anC
State Auditor Brady ordered then
closed also in order to protect theil
depositors.