The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-06-15
ANOTHER BANK
CLOSES DOORS
Said to be in Good Shape, But
Protected From Run
by Their De-
positors.
STATE BANK OF MARINE
One Of Lorimer's Friends Owned
Stock in the Concern and
This Created
Distrust.

[Unitea Press Leased Wire Service.l
MARINE, ILL.,, June ,15.-The Bank
of Marine, subsidiary of the LaSalle
Street Savings and Trust bank, Chi
cago, in which c. B. Munday, vice
president Of the LaSalle street bank
owned stock, failed to open its doors
Monday morning, following run Sat
urday in which about 100 depositors
withdrew their accounts. Other de-
positors and towns folk of Marine
generally are wondering who is In
charge of the bank and whether 1t
was closed by the state auditor, or
the bank officials.
On the front door OF the bank is
this notice:
''This bank temporarily closed by
James G.. Brady, auditor of public ac-
counts.
Springfield, ILL.,, June l5, 1914"
Posted at the Marine postoffice and
in other public places is this notice:
'In order to quiet rumors that the
Bank of Marine is in financial straits,
the officers Of the bank have called
for a special examination of It's af-
fairs. In the m santime reorganiza-
tion will be effected and the stock
owned by G. B. Munday will be placed
with local people. When this is done
the bank Will again be opsu for bust
ness.
(Signed) 'E. NJ. HoYER,
"Cashier.
"H. A. HOVER,
AUGUST TALLEUR,
Executive Committee"
The capital stock of the bank Of
Marine is $4,000. H. A. Hoyer and
August Talleur made hasty trip to
Edwardsville and st. Louis by auto
mobile Saturday and obtained money
with which to meet the run On the
bank which developed late that day.
It was expected the question of
whether the bank was closed by the
state auditor or the officials Of the
bank, would be cleared soon.
Bank In Good Shape.
SPRINGFIELD, H., Juns 15.-The
state bank of Marine which was re-
ported closed today was in good
financial condition, according to
State Auditor James J. Brady, who
based his statement on the result Of
recent examinations Of ths bank. It's
finances were in excellent condition
and it's securities all were classed as
A /. The only rsason for the banks
closing, the auditor said, was to pre-
vent possible run, and enable the
bank to make arrangements for Sc
curing cash sufficient to tide it over.
J. J. Burke head Of the banking
department, returned from Marine
this morning, after examining the
condition Of the institution yesterday
Burke declared that thers was no Wis
ib1e reason for the closing Of the
bank.
Assistant Bank Examiner John
Scullen is at Marine going into furth-
er details of the banks finances.
Auditor Brady expects to receive
report tomorrow or Wednesday from
Chief Examiner Harkin at Chicago on
banks which were clos I'D Friday or
SATURDAY. me aud1tOr and Attorney
General Lucey will examine the re-
port before making it public.
The Lorimer Banks.
CHICAGO, June 15.-Federal Of
ficers today took hand in the closing
last Friday and Saturday of the six
Lorimer banks. Assistant United
States District Attorney Fleming no.
:ified the directors of the LaSalle
Street Trust and Savings bank, of
which VIM. Lorimer is president, that
bankruptcy funds the bank held in
trust when its doors were closed,
must be considered a prior lien.
Fleming warned the bank officials
that if they disregarded mis- notice
and the federal court assumed the
same attitude, that every official would
be cited for contempt if the bank
ruptcy funds were not accounted for.
States Attorney Hoyne said today
shat he would not take the initiative
il, an investigation CT the banks clos
ings, but that he will assist Attorney
Lucey in every way possible if Lucey