Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1914-06-17
Doors m Closed.

OOOVS FToU1pety SsOo0os
An hour after the. arrival Of the state
bank examiner the doors OF the bank
We're closed.
Examination of subsidiaries OF the
Lasalle street bank it was announced.
would be taken up by the state bank
examiner.
William Lorimer, president of the
bank, was in conference with the d.
rectors OF the institution through the
morning.
In the last statement issued by h
bank its capital stock was placed at
81, zoo. 900 with a surplus of $250.000 n
undivided profits of $93,681. Its stock
was then held at par.
The statement gave the deposits a.
s., 05S, $50, and placed the loansa at $4.-
1863, 1913.
Later the state bank examiner an
nounced he had sent examiners to three
banks in Chicago classed as subsidiaries
of h Lasalle street institution.
Three Others Closed.
The examiners caused a suspension OF
business in the three n the Broad
way State bank on the north side: the
Ashland and Twelfth street in the east
side Ghetto district and the Illinois
State Eank OF Chicago in north Clark
street. The Broadway State and the
Ashland & Twelfth street bank were
organized within h yea
IllldI1 lOTlIuGT, IL, Is llSt6O DIS H
heaviest stockholder of the Illinois
State Sank Of Chicago. which at the
last report had deposits of $177. 900 and
a capital stock of 5000. 900.
In financial circles it was reported
that the Corn Exchange bank yester-
Trust & Savings bank to clear through
1t.
The run on the bank. which was
characterized by bank officials as
mild" was attributed to allegations
made in connection with the suit Of
Brady in which Coyne charged in his
declaration in a suit for damages that
the Lasalle street bank had con-
tributed to the Brady campaign fund
and that the contribution had been
made the basis Of a claim that 1T
should be consulted regarding appoint
ments to be made by the state auditor.
Rough estimates of the amount with
drawn by depositors in the last three
weeks place the figures at more than
81 1000. 900.
Crowd FIocks to Bank.
Following the closing of the banks
doors there was a crowd assembled
in front, but there was no disorder.
A policeman was detailed to stand
! guard. but there seemed to be no call
for his services.
| Daniel V. Harkin. chief state bank
examiner for Cook county. explained
that he had not intended to close the
bank when he entered it today.
! II did not mean to take possession,"
he said, but l SOC discovered 1 must.
1t looked extremely doubtful if the
bank could continue to weather the sit
uation. At present l cannot say
whether the bank will ever resume OPP
erations. The three smaller banks will,
l believe. resume business in a short
time"
The I-asalle Trust & Savings bank
was not a member of the Chicago
, Clearing House association.
! According to the cashier, Charles c..
: Fox, the bank deposits had been over
$1,000. 600.
Mr.. Harkin said he did not believe
the disclosures in the Coyne-Brady
scandal q any bearing upon the
financial condition of the bank. The
city of Chicago had $650.0OO on deposit.
City Treasurer Flynn attempted to
withdraw the funds following the
ru1nor thai the bank was in trouble.
He was refused by the cashier, who
told him no funds could be paid out
while the bank was in charge of the
banls examiner.
Board of Trade markets We're made
to reflect to some extent the troubles
of the Lorimer banks. A considerable
part of a decline of 1c from top fig
ures of the day in the price of wheat
and of &c in corn was generally at
tributed to speculative and other SELL
ing more or less the outgrowth of the
bank difficulties.