The Birmingham age-herald., 1914-06-13
Rumors Current Say Re- ceivership May Be Asked
 for Institutions
MEN AND WOMEN
 CLAMOR FOI MONEY
Policemen Forced to Restore Order in Chicago-Lorimer Refuses Com ment-$6.4l1.9 .997 in De-
 posits Involved

Chicago. June I2.-Four state banks. the most important havicg for its president William Lorimer. unseatcd from the United States Senate, were closed by the state banking depart ment today. Representatives of the de- pertinent immediately began m exam ination Into the institutions' affairs. Rumors were current that receiver ship would he asked.
 The four banks were the IaSalle Street Trust and Savings bank. the Broadway State bank. the Illinois State bank and the Ashland-Twelfth Street State bank, known as the Lorimer- -Munday chain Of banks. The LaSalle Street bank was the main institution. Combined the banks have deposits of s641i,997 and reported cash means of q, 6s2.
 Of deposits. s966, GOO consists of city funds The bulk of this amount, s6So,ooe, Is on deposit with the IaSalee Street Trust and Savings bank.
 Daniel HarSin. chief bank examiner, who took personal change of the down. town and sent deputies to the smaller  salle Street Trust and Savings bank open for business next week. He declared he sent examiners to the smaller institu- tons as a precautionary measure. He in- sisted there was no political phase to the action of his men.
 Slow Assets
 Action of the LaSallee Street Trust and Savings bank by Harlin two months ago disclosed. he said, quantity of what ne regarded as slow assets. State officials say the bank officials pleaded for time to change that condition. In the last three weeks, according to Harkin and the cash- fer of the bank. there has been what wac termed a mild run on the bank causiniS a depletion of about sl.0oo,o0o in deposits Former United States Senator Lorimer. former president and C. B. Munday, re- fused to comment on the situation. James B. Forgan. president of the First National bank and chairman Of tiie Clear | ing House committee. said ''The closing of the LaSallee street bank should not have the slightest effect on any other banks in the Chicago district. The ba nks are not associated with other downtown banks. The LaSaliee street Trust and Savings bank Is not member of the Clearing House association, and has hau Dont ul thc Pi'NhteN' VI ''<~ house."
 state officials declare the financial con dition of the IaSalle Street bank had caused them Ito fear the possibility Of disastrous run.
 The Ashland-Twelfth Street State bank wae the center of riot when its de- positors learned of the closing
 Clamor for Money
 Men and women csamored for their money. Refusal was met by excited cries and before police arrived stone was thrown through window and rush was made on the locked door. Police- men restored order.
 The financial condition of the four banks taken from the report to the state auditor June l, follows IaSallee Street Trust and Savings bank: Loans and discounts, A,254,11s; cash | means, $1, ,O0S, 469; capital. surplus and un- divided profits, sl,343,63l deposits. sofi2,- | 992.
 | Illinois State bank: Loans and dis counts. $34O ss5; cash means. sloS.43O; cap | ital. surplus and undivided pronts' szSosio' deposits $424s94.
 l Broadway State bank: Loans and dis counts. S2e9 s52 cash means, n5e. 15l cap- | ital surplus and undivided profits, $zbl,- ] 020: deposits $22S, i29. Ashland Twelfth Street State bank: Loans and discounts. s346,22O cash means. s27s. $40; capital and surplus. $5o5.6S1 Mir Munday recently was named among other defendants In two court actions a suit fled by John H. Coyne against James J. Brady. state auditor and an application for receiver by the minority stock holders of the Rose Hill Cemetery company.
 Tn the Coyne suit it was alleged that ~~~~~-~~~~->>>>~~->|-->> >-S>->->~-~~~>->-----e