Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1914-06-17
PLANS TO PROBE
BANK FAILURE
Attorney General of Illinois to
Get Report.
TWO MORE BANKS CLOSED
Calumet of the Lorimer-Munday
String in Hands of State Examin-
er-Private Institution Fails
to Open Its Doors.

Chicago, June 15.-AttOrney Gener-
al Patrick ]. Lucey will take hand
today in the Munday-Lorimer LaSalle
Street bank failure. Representing the
state of Illinois as its prosecutor-in-
chief, Mr. Lucey will accompany State
Auditor Brady to Chicago to receive
the report of Bank Examiner Daniel
V. Harkin concerning the internal af-
fairs of the collapsed institution.
From Springfield it was learned
that Attorney General Lucey will as
sumo direct legal charge of the bank
muddle, without recourse to the office
of the states attorney, although it
was said to be the feeling that the
states attorney would not place any
obstacle in the way of the state OIL
GERS in any proceeding that might be
undertaken 1t is understood that the
attorney generals authority may ex-
tend to the calling Of special grand
jury, the presentation of such evil
dence as may be obtained, and the
prosecution of any indictments which
might be returned.
Big Withdrawals Reported.
A report from downstate was that
the Len Small-Ed Curtis combination,
with a bank at Grant Park, had with
drawn it's deposit of $25O,000 from Mr..
Lorimer's bank since June /.
A story from Springfield during the
evening was that the Marquette In
surance company, which had carried
a balance in the LaSalle bank of ap-
proximately $4,000, had been for
tunate enough few days ago to get
out of the bank all but measurably
small part of its deposits.
The day at the LaSalle bank was
marked by the presence of Vive-Pres-
ident Munday, who prophesied the
early reopening of the institution
with mo loss to anybody"
State Bank of Calumet Closes.
The State bank of Calumet, 1075S
South Michigan avenue, one of the
Lorimer-Munday string, went into the
custody of a deputy of Bank Exam
liner Harkin, and took it's place with
the Broadway State. Illinois State and
Ashland-Twelfth State in the list of
pended pending completion of the ex-
animation of the LaSalle.
W. C. Coleman. assistant examiner,
announced that the Calumet bank was
in good condition and would pay dol
lar for dollar He said he expected
it to resume business within few
days.
Southwest Bank Shuts.
An hour later the Southwest Saw
ings bank, a private concern at 4010
West Twenty-sixth street, was closed
through an involuntary bankruptcy
petition filed in the federal court.
Louis j. Krejel, the owner, had $4,000
! in cash at the Lorimer- Munday insti-
tuition, and when he couldn't get it he
had to shut up shop. Its deposits ran
around thirty-five thousand dollars.
United States District Attorney
! James, H. Wilkerson was directed by
Federal Judge Carpenter to investi-
gate thoroughly the conditions SUI
| rounding the suspension of the La
Sale Street bank, with the purpose of
conserving a deposit Of $136,700 of
| trust funds in bankruptcy proceed
| ing against the Kellogg Mackay com
pany, secured only by $4,000 bond
issued by the Illinois Surety com
pany.
Bank Examiner Harkin, while en-
tirely pessimistic regarding the La
Sale Street bank, continued to be
hopeful concerning the chances of the
smaller banks involved to reopen.