Newspaper Page Text
TJBLE AliGUS, TUESDAY, JUNE C, 181)3. Highest of all in Leavening Power. Latest U. S. Gov't Report AESOUUTEl PURE WINDY CITY BANKS Gen. Lack-of-Confldence Gives Them Annoyance. EUNS ON HALF A EOZEN CONCERNS, One Hank Vay Out Minify All Night, and All Hrlnr the Sriire to llMve No Ititais The Hiberrtn. l'rnirie State National, IMnie Suvinuo, I'nion Trtmt, anil Illinois Truni the IiiKtilntionx AttMCked A Wild Dity Amnng; Savings I poi t or. Chicago, June 0. The "lack of confi dence" which has Ix-en cavorting around the country for some time and has already bowled over h couple of Chicago banks with numerous concerns in other lines of business seems to have ettU-d down over the city to test the endurance of the bank ing institutions in earnest. Depositors be gan to lie uneasy, rumors were sent flying about and General Lack-of-Confldence took charge for a day. The rumors grew thicker and wilder asthey passed about and the result was runs on several institutions which were they to fail would cause wide spread suffering in this city and vicinity. The ItunlM That Met the Ran. The banks which had the torm to stand were the Prairie State Xatioual bank, the State Dank of Commerce, Hi bernian Savings bank, the Dime Savings bank, the Union Trust. Com pany's bank, and the Illinois Trust and Savings bank. Under the circumstances it is no small tribute to the soundness of Chicago hanks to ay that they all with stood the strain. Where the rumors sprang from is a mystery. It is uo mys tery bow they spread, for wildfire Is no quicker in its flight than rumor when she takes a fling at the hanks. The Hibernian Bank. The bank whose failure wonM have caused the mom trouble is the Hibernian Bankiug association. The officers were not at all alarmed over the run made there. It is regarded as one of the strong est savings banks in the country. The de positors are mostly Irish and it is the de pository of large amounts of the funds of the various Roman Catholic parishes. Its last report showed deposits of $2,750,000 individual deposits of t?50,0Kl, undivided profits of $383,000, The capital stock is $220,010. Vice' President Charles F. Clark, who is manager of the savings de partment, said at 1 o'clock: "We have been paying depositors all the morning at the rate of three a minute. They are poor people who have every dollar in the world they possess with us, and naturally with the existing conditions they have gotten nervous. We do not biame them." ICun mi a Dime Savings Hank. Anot her bunk th;it had to suffer for Gen eral Iju-k-of -Confidence was the Dime Sav ings bank.- There was a big crowd outside and inside, but President Samuel G. Ilailey expressed no uneasiness, uoj would he say whether the bank wonM enforce its thirty day rule. "We have funds sufficient on band," he said, "for ull regular purposes, and even for an emerency. No occasion exists for t'.ii alarm, except the general uneasiness in the uir." Tlie bank does solely a saviugs business, its last report shewing t'eponts of half n million, and a surplus of f51,000. The loans at the time of the same report amounted to $457,000, while United States bonds und cash on hand aggregated I2-.-3.C0O. All its loans are secured on real estate. Vulon Trust Haa a Time. Depositors by the hundreds crowded into the Union Trust Company's bank to get their money, but soon after seeing Presi dent Rawson's coolness and even amuse ment, many went out again without drawing their deposits. But the crowd of witndrawers was immense, just the same. "We saw this coming," said Mr. Raw son. "and were ready for it. We'll pay 'em all." The Union Trnst is a member of the Chicago clearing bouse. It has over f 1, 000.000 to draw upon above its liabilities. Still people went up and drew out their deposits as if it was the laat chance, and aa each received bia money be drew a long breath of relief. An Ex-State Bank Examiner's View. William. M Roberts, late state bank ex aminer, visited the different savings banks several times during the day and assisted in allaying the fears of depositors. Speak ing of tbe general situation he said: "I do not believe there is a state bank in Chicago that is not fully ablfl to pay fl.M) for every $1 it owes. People have been needlessly alarmed by the collapse of private institu tions." WILD PANIC ALL DAY, Bat Only One Failure, Private Bankers, Reported. Rumor had hardly started a story of one bank than tbe "dame" looked around for another victim. In this way there was a big run on the Bank of Commerce, but every comer was paid in full. President Felsenthal said the bank would pay every demand made upon it and that nobody would be asked to wait a moment for his money. The Prairie State National bank, corner .Washington and Desplaines, was called on for a large amount of deposits in the savings department and paid on de mand. The officers said they had been preparing for just this sort of thing. A run on the Illinois Trust and Savings bank was met by the announcement that it would keep open till , 10 p. m. as long as the run lasted. There are $10,000,000 de posits in the savings department of this bank, and seven men were paying de positors. Working twelve hours a day it would take seven -men 100 days to pay out the $10,000,000. There was no run on the deposit accounts. A run was began on the Globe Savings bank at, 2 p.m., and tbe bank immediately posted notice that its legal thirty and sixty-day limit would be the rule. At 9 p. ni. there were 600 persons in line belore the paying teller of the Illinois Trnst and Savings bank, and the officials announced that they would continm pay ing until all had their money. At mid night there were 200 and. the tsnk con tinued to pay. iLwas alter 2 o'clock this morning when the bank closed its doors with the statement that it would be ready to go on this morning at the usual hour. A run was also started on the Milwaukee Avenue bank. Along toward 11 o'clock it quieted down. Then the people .learned of the Meadowcroft failure and the run be gan again. The bank met all demands and the officers say they are ready to with stand another run today. The uneasy feeling invaded the board of trade and caued a temporary panic among the speculators in grains and provisions. Prices tumbled headlong and the bears could not trade fast enough to keep up with the falling market. July wheat sold down to fOSJtf cents, a drop of nearly 3 cents, and 14 cents lower per bushel thau wheat has sold itt'any year previous to tne present. Provisions shared in the general demoralization, pork showing a decline of $1.20 at the close. Corn anil oats were also extremely Dervous and closed 1 cent lower than the prices current when the market closed at noon Saturday. With all the panic there was but one bank failure, that of Meadowcroft Bros., private bankers, but it is claimed there that no one will lose a dollar. They had many depositors among mar ne men, who will be pat to serious inconvenience at the least, in having to w.vi fur their money. Not the least flirt--. 'w-ver, was per ceptible at any of i various national banks, and several ..-.miuent bankers, whose opinions wi-ie as Xed concerning the panicky feeling in the air, referred to it as simply a passing sp tsm. due tutirely to the uneasiness prevailing among small deposi tors identified with the savings banks un der state jurisdiction. Every nation.l bank, it was insisted, was as sound aa a dol lar. Not one is in the slightest danger of a run, while there is not one but can meet the heaviest demand that may be made upon it. A Kansas Land Company Falls. Kakdas CTTT, Mo., June 6. The Kansas Grain and Land company, with general offices at Hutchinson, Kan., has failed. No statement of liabilities or assets have been given out, but it is believed the failure is a heavy one. Tbe company operated about 100 elevators along the line of the Santa Fe road and throughout Kansas. Will RmrranlH the CDRur. EAXKAKfE, Ills., June 6. Confessions of judgment havebeen entered against the Gibba Chair company, of North Kankakee, amounting to $40,000. The assets of the concern are placed at $120,000 and the com pany will be reorganized and the factory in operation inside of sixty days. Ran on a Madison Bank. Madison, Wis., June 6. There was a small run on the First National bank, but not enough to cause any great excitement. The bank's balance at the close of business Saturday showed $258,000 on hand to meet demands and the officers of tbe bank are not at all ala. med. GEN. SLOCUM ON PENSIONS. He Believes That "Bounty Jumpers" are Too Numerous on the Rolls. New York. Junefl. Tbe Brooklyn Eagle publishes -tn open letter from General H. W. Slocum addressed to John T. Raper, editor of the Ohio Soldier, Chlllicothe, O., in re ply to a recent article published in that journal. The article referred to criticised some of General Slocum's recen preferences to the pension system and intimated that the general's utterance came with bad grace from a "man who is drawing a a service pension of about $4,000 a year" as retired major general. General Slocum begins his letter with the statement that he is not on tbe retired list and that be has never drawn a dollar from tbe govern ment except for services rendered. At the close of the war a commission giving him a rank in the regular army was offered him. but he declined it- Tbe gen eral declares himself strongly in favor of paying pensions to the real soldiers of tbe war of the rebellion who are now disabled or ,in want, but emphatically objects to any payment to bounty jumpers, or men who enlisted in the closing days of tbe war, and who sever beard a hostile shot. The general is very bitter in his d an unci a tion of the "bounty jumpers." three of whom, be says, he "had the pleasure of seeing shot in one day." These same men who risked death and disgtace during tbe war to secure tbe bounty of tbe govern ment do not hesitate to seek that bounty now in time of peace when they really risk nothing. The general concludes his letter as fol lows; "I trust that this scandalous busi ness is now to cease. I believe the pen sion department is now in tbe hands of a gentleman who, while endeavoring to do jnstice to all deserving veterans, will not boast of his ability to increase the pension roll at the rate of more than two names a minute. He needs and should receive the support and co-operation of every honest soldier in the country." LIGHTNING'S FRIGHTFUL WORK. Three Fersons Out ot Four Struck Dead in an Instant. Fisakkfokt, Ky., June C The light ning played awful havoc at the little town of Switzer, five miles from Frankfort. Farmer James Redding, his wife and two visitors, Mrs. John Lyinen uud Alexander Barbour, were sitting on tbe front porch when a bolt of lightniug desceucled upon the doomed house, instantly killing Mrs. Lymen, Redding and B irbour. Mrs. Red ding, who is iu a delicate coudition, was so shocked that her recovery is hardly pos sible. Three corpses lay at her feet. Trust Accept Bids for Bonds. PEOKIA, Ills., June 6. The board of di rectors of the Distilling and Cattle Feed ing company met in this city, all the members of the board being present except Nelson Morris, of Chicago. The principal business transacted was the matter of ac cepting bids for bonds. President Green hut stated that enough were sold to realize sufficient money to meet pressing demands upon tbe company. The bonds were sold at a low figure. The offer was received. It could cot be learned how many bonds were sold nor at what figure. GOT TEN THOUSAND And Had to Leave a Similar Sum Behind. A BOBBERS' FEAT IN ARKANSAS. ABBREVIATED TELEGRAMS. I Brave Act of a Print Shop Girl She Saves Half of the Amount Captured Citizens Rally and m Lively Fight Ensues In Which a Farmer "Is Killed Two Other Citizens and Two Robbers Wounded. Bentontille, Ark., June 6. The Peo ple's bank has been robbed by a gang of six desperadoes armed with Winchesters, who secured over $10,000. They were from the Indian territory and came iuto town with four fine horses and a white topped buggy, which were left in the rear of the j Sun office under charge of one man while the other five went in single file in front of the place half a block north to the People's bank, where they entered and covered the bank officials. President A. W. Dinsmore, Vice President J. R. Hall, Cashier J. C. McAndrew, Assistant Cashier G. P. Jackson, with Winchesters. Saved by a Plucky Gitl. One of the men made Cashier McAndrew dump the contents of the safe into sacks . brought for the purpose, putting $10,000 gold and currency into one and $11,000 sil ver into the other. After securing the money they made the officials march in front of them as they started for their horses, forcing Mr. Jackson to carry the sack of silver. In passing The Sun office Miss Maggie Wood, of The Sun force, had the presence of mind to rush to the door and open it, letting Mr. Jackson in with his sack of silver and immediately shut and locked the door. t The Cashier Shot to Two Places. During this time the robbers kept up an incessant firing, covering the two main streets. The citizens soon rallied and a general firing was kept up. The robbers mounted their horses, going west, closely followed by Sheriff Galbralth and posse. Assistant Cashier Jackson was shot in the bead, back of the right ear, and also in the left elbow. The wounds are not serious. Farmer Killed and Two Robbers Wounded Taylor Stone, a farmer, procured a Bhbt gun and fired two shots at the robbers; but was immediately shot down, the ball pass ing through his left groin, killing him. Tom Baxter, a farmer, was shot in the chin and retarned tbe compliment, wound ing the robber. Another one was wounded by Tom Woosley, drayman. EXTRA SESSION OF CONGRESS. Til President States the Time In Which It Will Be Called. Washikgtox, June d Tbe president said in reply to a direct question by a representative of the United Press, that he intended to call an extra session of con gress not earlier than the 1st nor later than tbe 15th of September, unless unexpected contingencies should necessitate an earlier meeting. Was a Dlsg-raeefal Scene. Sioci ClTV, la., June ft. A sensational scene occurred here at the railroad station when the body of W. II. Livingston, one of the oldest and wealthiest merchants of Sioux City, arrived from Chicago in charge of his second wife. An injunction was served at the instance of his first wife from whom he was divorced a year ago forbiddiug the second wife from any inter ference with the remains. The second wife made vehement protest, but the sheriff de livered the remains at the residence of the first wife. The Pope Indorses Gibbons. Rome, June 6. The pope has instructed MonsigLor Satolli, the papal legate to the United States, to express to Cardinal Gib bons the thanks of his holiness for the dis course recently delivered by the cardinal in favor of the restoration of the temporal power of the pope, and to inform his emi nence that his holiness is greatly satisfied with the language and argument of the cardinal in the discourse. National Convention of Drummers Peoria, IlL, June 6. The national con vention of the Travelers' Protective asso ciation met in this city today and continues in session four days. There will be a ball and reception this evening, an excursion tomorrow and a reception Thursday even ing, at which addresses will .be made by Vice President Stevenson, Governor Alt geld and others. The city is handsomely decorated for the occasion. ... A Dake Who Looks for War. Berlin, Jane 0. At a congress of the military unions of Baden the grand duke Frederick, who is also' a field mar shal in the German army, spoke In -recommendation ot an agreement with tbe gov ernment on tbe question of the army- bllL The grand duke said: "We must gather all our force foe the possibility of wax in order to secure a quick victory."., . j The Fnente Mima Horror. ' ' - -Houston, Tex., Jane 0. With two po licemen at his heels, each with a drawn revolver, Superintendent Spence has' pros ecuted the work of recovering the bodies of the men killed in the mine near Fuente, Mexico. Those which have been brought up were badly decomposed and all died of asphyxiation. Twenty-five corpses have bo far been recovered. Kloped With the Organist. Mekcedes, Cal., June 6. Rev. A. R. Reans, pastor of tbe M. E. church Bouth, has eloped with his organist, Lucy Rucker, 17 years old, leaving a wife and five chil dren. The young lady's mother has be come insane. Her father, one of the pil lars of Reans' chureh, has obtained a war rant for the arrest of the couple. Meeting in Favor of Reciprocity. St. Paul. June C The international reciprocity convention, the object of which is to advance reciprocity with Canada, is in session at the Auditorium with about 350 delegates present. Ex-Gov. Burke, of North Dakota, presides and speeches all urge leg islation for reciprocal trade between this country and Canada. Killed Ills Wile and Himself. BkacEVILLE, Ills., June 6. Ephraim Demedlau, a miner of this place, murdered his wife by discharging the contents of a heavily loaded shotgun into her breast, and then to escape justice deliberately re loaded the weapon the weapon and blew his own brains out. Two Hen Crushed to Ueath. Phillipsbubo, N J., June ft. A land slide occurred at tbe soapstone quarry at Mount Warne, a mile north of here. George Baltcli and John Cole were crushed to death. The foot race from Berlin to Vienna was won by a vegewrian competitor. Editor S. R Morss, of the Indianapolis Sentinel, will next Saturday sail for Europe to assume bis duties as consul gen eral at Paris. Obituary: At Ewing, 111., Robert R, Link, Prohibition candidate for governor last year, aged CO. At London, George Potter, the British labor agitator, aged 0L At Whitinsville, Mass.. William H. Whit ing. At Newark, N. J.. Frederick Allen Osborne, aged 63. At Vienna, Paul Schiff, tbe Austrian banker. John C. Mining, town treasurer of Fort Jennings, O,, has disappeared with $5,000 cash and leaving an additional shortage of $10,000. Last week there wore ten deaths in Phil adelphia from suicide. The Fisher & Burnett Lumber company, with headquarters at Memphis and New York, has made an assignment. It is be lieved that the liabilities will exceed $500,000. The trial of Lizzie Borden for the mur der of her father and stepmother in August, 18'J2, has been begun at New Bed ford, Mass.. Nearly COO soldiers in the Soldiers' home at Leavenworth, who used to take some thing else, have taken the gold cure. Spanish consuls report that cholera is epidemic in France and the Spanish gov ernment has ordered the enforcement of quarantine regulations against that coun try. Tbe closing of plate glass and other in dustries at Kokomo, Ind., throws some 8,000 persons out of employment. There is a shakiug-up in the Kansas City postoffice and the inspector has ordered four clerks and five carriers suspended for thirty days for "shooting craps" while on duty and for getting In debt to money lenders. Forgeries by the Rev. R. S. Deener, of Batesville, Ark., will probably reach $40, 000. Ireland send s annually 40,000 tons in round numbers some 60,000,000 of eggs to England. The bottle from which Sherman and Johnson took a drink together after the latter general's surrender is In the posses sion of a woman at Ralelgb, N. C Charles H. Hoyt. the playwright, of Charlestown. N. H., is to erect in that .town a mausoleum of New Hampshire granite, to cost about $10,000. . Tbe wife of Mayor Boye. in Rottendorf. Prussia, gave ' birth the other day to a quartette of children;'- The ntother la aged 18 yefws... 'abraka Officials Acquitted Lucoui, Neb.; Jane 6. The supreme court has rendered Ha decision in the im peachment cases, finding tbe three state officials. Attorney General Hastings, Com missioner of Public Lande and Buildings Humphrey and Secretary of State Allen, not guilty. . Five charges of Impeachment preferred by tbe legislature are not sus tained. Chief .Justice Maxwell dissents. By a nnanimous vote tbe court sustains the plea of non-Jurisdiction in the cases of ex-Treasurer Hill. ex-Auditor Benton and ex-Attorney General Leese. Schaffner Probably Suicided. Chicago, June 6. The friends of the missing banker, Herman Schaffner, pro cured the services of a professional diver who spent half a day in walking on tbe bottom of the lake a mile or two from shore, but tbe work was unproductive of results. Further evidence was adduced, however, showing that Schaffner was seen on a car bound for Lincoln park, which strengthens the theory that he went the lake and drowned himself. Cleveland Appoints a Tammany Man. WASHISUTON, JutieC. The president has appointed Charles W.Dayton.of New York, city, to be postmaster of that city; Charles H. Mansur. of Missouri, to be second comptroller of the treasurer. Dayton has been a member of the! Tammany hall gen eral committee for two years. He was president of the old narlem Democratic club, la county Democracy organization, which subsequently joined Tammany. The Weather We May Expect. WaSBUtOTOa. Jane ft. The following- are tbe weather Indications for twenty-four hoars from S p. m. yesterday: For Indiana and Illinois Fair weather, cooler In southern portions; westerly to northerly winds. For Michigan and Wisconsin Fair weather, warmer in Upper Michigan: westerly to north erly winds. For Iowa Fair, warmer weather: westerly to northerly winds. Gas Gusher Struck by a City. Findlat, O., June 6. The city has drilled in a twenty million-foot gasser on the Crelghtou farm, five miles east of the city. An effort to shut the well in failed and tbe tnbing was blown higher than the derrick. The roar of the escaping gas can be heard for five miles. ON TRIAL. That's a good way to buy a medicine, but it's a pretty hard condition under which to stll it. Perhaps you've niifiml that the or- idinr ry, hit or miss medicine doesn't at tempt it. The only remedy Ul W J" V mv- markable in its effects that it can be sold on this plan iDr. Pierce's Golden Medical Dis covery. As a blood - cleanser, strength -restorer, and flesh-builder, there's nothing Uke it known to medical science. In every disease where the fault is in the liver or the blood, as Dyspcjwia, Indigestion, Biliousness, and the most stubtiorn Skin, Scalp, and Scrofulous affections, it is yuamnd in every case to benefit or cure, o'r you have your money back. To every sufferer from Catarrh, no matter how liad tho case or of bow long stand ing, the proprietors of Dr. images tatarrn Rjn.il say this: "If we can't cure it, pv.rfectlv and t 'rmnontly. we'll pay you 6000 n -r !' ' .-gists. Attention Ladies. -MOUNTAIX DEW- is the bout nkin lotion in use. It contains no mineral oroily substances. Sold by THE WARREN BROWN CO. Room 15, Dittoe Block. Davenport, corner Third and Brady. M pace Medical treatine containing much infor mation and many valuable receipts free upon application. HouseRaising and Moving- satisfaction guaranteed. Raising brick buildings especially Address E- A- ROUNDS, 1515 Seventh Avenue, Eox 221, PAR4S0LS AND UMBRELLAS, LADIES: Please remember our stock of Parasols and Umbrellas is one of the largest ever shown in Davenport. Every one is new, and pri ces, as always, the lowest. Please give us a call. Very respectfully, KLUG, HASLER, SCHWENTSER Dry Goods Company. Dave npr rt, Iowa LEND US YODR FEET Just long enough to give us a chance to shoe them suitably. Nothing contributes more to the enjoyment of the present existence than pioper footwear. You lose falf your life if tie feet are puniehed with bad, un comfortable, unsightly find un reasonable shoes Bad shoes, instead of - BaviDg money, are it e costliest kind of footwear. AArirfrt & Greerjawalt, 1704 SECOND AVENUE. A WORLD IN ITSELF. As Thinks He So Thinks All Mankind. C. R. I. & P. Railroad Co., June 5, 1395. To the Editor of the Argus. After a careful examination of your Encyclopedia Hrit;u: it affords me much pleasure to attest to its marvelous exec! in printing, binding, maps, plates, etc. I regard the Hritanniea as pre-eminent I v the greatest in- tor of the 19th century; as the most complete library of know extant. I heartily commend your enterprise in offering this prin educators at the phenomenal low price of $1.96 per volume a the easy payment plan of 10 cents a day. I take pleasure in adding the Encyclopedia Kritannit a t library. :ru'- t I 'I :nv Yours very truly, W. H. Stocks, General Foreman. World's Fair Souvenir Spoons With every purchase of $ or more this month at the BEE HIV Cloak & Millinery Co., JUNE CLEARING SALE of Capes, Suits. Waists and Millinery. Great Bargains arc offered. 114 BEE HIVE- West Sacond Street. DAVEN0BT, 10".