The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1914-06-18
L0R|NER'S BANKS
CLOSED By STATE
institutions in Chicago in Hands
of Bank Examiner.
100000 is ON DEPOSIT
Majority Of Deposltors Are Business
Men and Little Excitement Re-
suIted-Munday Heavy
Stockholders.

Chicago, June 15-Following the
closing of former Senator William
Lorimer's LaSalle Street Trust u
Savings bank, together with three sub
sidiary outlying banks, Friday, state
bank examiners were reported to have
discovered liabilities OF 100000.
The action disclosed that since
June l nearly sl,500000 has been
drawn out by deposItors who had a
suspicion of the condition Of the In
stitution, while very little money HIS
been deposited.
Three other state banks outside the
loop, fostered by the Lorimer instl-
tuition, also we're closed pending an
examination by the auditor,
They are the Ashland-Twelfth bank,
at 1900 West Twelfth street; the
Broadway State bank, at Broadway
and Wilson avenue, and the Illinois
State bank, at West Kenzie and North
Clark streets.
The state auditors office, which Mr..
Harkin represents in Chicago, has ex-
tended the investigation. Four down
state banks, all dominated by Munday,
are to be investigated by bank exam
iners. They are:
The Farmers bank Of Bethalto, Mad
ison 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. All are capitalized at the
same fgure-s25.000.
The board OF trade firm OF Sidney
Long e. Co also failed to meet It's
obligations as a direct result OF the
closing Of the Lorimer bank. c. b.
Munday, vice president OF the LaSalle
Street Trust e. Savings, and John K.
Seagrave, chief clerk In the state
auditors office, are partners OF Sidney
Long In the firm and all its money
was In the LaSalle street institution.
Bank Examiner Harkln in charge
of the Chicago branch OF the state
auditors Office, declared there was no
political angle TO the closing OF the
bank.
They told him It would be impossi-
BILE to meet his demands, and the
bank did not open.
There was little excitement. Most
OF the depositors were business men.
There were a few women and two
OF them wept as they declared that
all their small savings were In the
bank. One of them declared that she
LOST all she had in the Paul o. Stems.
land crash few years ago.
A list OF the stockholders Of the
bank shows that Vice President Nun.
day is the heaviest stakeholder with
2,606 shares. William Lorimer holds
900 shares; John f. Jelke, the but
teJ1ne millionaire, recently convicted
OF "moonshinlng, $50 Thomas NJ.
Jet. iillsboro. Ill, 300; l.. l.. Bac.
chus, former chief clerk in the state
auditors Office, who resigned to be-
come vice-president OF the bank, 100;
D. l. Felsenthal, 179; H. W Huttig,
Muscatine, Ia, president OF the Rose
hill Cemetery company. $50; John X.
Seagrave, chief clerk in the state aud.
itors Office. 20. former Congressman
william J Moxley, 4O4; Elbridge
Hanecy, so; Shearson, Hammill &
Co. 200; George O. Gunderson. father
OF Mrs. Leonard Lorimer, a daugher.
inlaw OF the former senator, 90, and
former Senator Albert ]. Hopkins dc.
feated ~ Lorlmer for the senate, 10.
Former Senator Hopkins also ia hit
by the suspension in another dlrec-
ton, his bonding company. the iii.
nois Surety company, having guaran.
teed the clty's deposits to the extent
Of $4,000
The immediate closing OF tho bank
was precipitated IT was said, when n
demand was made on the banks Off.
GERS for $G50,000 OF city funds.