Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1914-06-18

days ago, according 70 the secretary
Of the Lasalle Street Trust 81 Savings
bank, and today more and more depos-
itors gathered In front OF the institu-
ton, which Is q few doors from b
Board of Trade building In Lasalles
street.
Doors Promptly Closed.
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 1t was
would be taken up by the state bank
examiner.
william Lorilner, president of the
bank, was in conference with the di-
rectors of the institution through
morning.
In the last statement issued by the
bank its capital stock was placed at
81, 0e0, 600 with q surplus of $3.50. 900 and
undivided profits OF $93,621. Its stock
was hen held at par.
The statement gave the deposits as
81. 05s,5 $50. and placed the loans at $4,-
1863, sos.
Later the state bank examiner an
banks in Chicago classed as subsidiaries
of the Lasalle street institution.
Three Others Closed.
The examiners caused q suspension OF
business In the three and the Broad
way State bank on the north side; h
Ashland and Twelfth street In the east
side Ghetto district and the Illinois
State Bank of Chicago In north Clark
street. Nj broadway State and the
Ashland & Twelfth street bank We're
organized within the year.
William Lorimer, jr.. is listed as b
heaviest s~tockholder OF the Illinois
State Sank of Chicago, which at h
last report had deposits OF SLIT, GOO and
a capital stock of 5000. 900.
In financial circles it was reported
that the Corn Exchange bank yester-
day refused to allow Lasalle Street
Trust & Savings bank to clear through
Tic run on the bank. which was
characterized by bank officials as
made in connection with tho suit OF
John III. Coyne against State Auditor
Brady in which Coyne charged In his
declaration in q suit for damages that
the Lasalle street bank had con-
a e1,5u tsat f the the son Bsaay sanP Sas fund
made h basis OF a claim that It
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
1000, 900.
Crowd FIocks to Bank.
Following the closing of the banks
doors there was a crowd assembled
A policeman raj detailed to stand
guard, but there seemed to be no8call
for his services.
Daniel v. Harkin, chief state bank
examiner for Cook county, explained
that he had not intended to close tha
hank when ha1 pnfarnA. A. %13a,, H4Ea4@%5
Il did not mean to take possession
he said, but l soon discovered / must.
1t looked extremely doubtful If the
bank could continue to weather the sit
uation- At present I cannot say
whether the bank will ever resume OBJ
erations. The three smaller banks will.
] 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. e..
Fox. the bank deposits had been over
So, 200, 900.
Mr.. Harkin said he did not believe
the disclosures in the Coyne- Brady
scandal had any bearing upon the
financial condition Of the bank. The
city of Chicago had s650,00O on deposit.
City Treasurer Flynn attempted to
withdraw the funds following the
.rumor that 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
bank examiner.
Board Of Trade markets were made
to reflect to Some extent the troubles
of the Lorimer banks. A considerable
part Of a decline OF 1c from top f1g-
ures Of the day in the price of wheat
and OF nc in corn was generally at
tributed to speculative ana other sell
ing more or less h outgrowth Of the
bank difficulties.