08e33e65Full suspension, Books examined
Other: Receivers appointed and criminal arrests of president and cashier; bank examiner took possession.
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A Pennsylvania Bank Sold. CLEARFIELD, Pa., March 26.-The Houtzdale Bank has been purchased by William H. Dill and John B. McGrath of Houtzdale. Rumers have been in circulation affecting the bank, and a run was begun. The new bank will have a capital of $50,000.
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BANK CLOSED DOWN. Unable to Stand the Strain of a Heavy Run. CLEARFIELD (Pa.), Sept. 30.-The First National Bank of Clearfield closed its doors this morning. An unprecedented run on Saturday, Monday and Tuesday, amounting to nearly $40,000, made it impossible to continue business, and therefore the bank suspends payment. It is thought that the bank will pay in full. HOUTZDALE (Pa.), Sept. 30.-There is intense excitement here to-night over the closing of the Dill Bank at Clearfield and trouble here with the Houtzdale Bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted as stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners, and trouble is feared every moment with the Huns and Slavs who had their all in the bank. The deposits at the First National Bank at the time of the suspension were about $100,000. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of Teller Hamilton, a short time ago.
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CLOSED ITS DOORS. The Houtzdale, Pa, Bank Suspends Excited Depositors. HOUTZDALE, Pa., Oct. 1.-The Houtzdale Bank closed its doors at 10:80 yesterday morning. W. H. Dill of Clearfield owned the bank and was its president, with John B. McGrath of Houtzdale, cashier. W. H. Dill is also president of the First National Bank of Clearfield, Pa., which closed its doors at the same time. The Houtzdale bank has done a large business in the way of deposits. Individual deposits range from $13,000 down, while many secret and beneficial associations, the borough and several township treasurers are depositors in various sums, aggregating many thousands of dollars. The savings of Hungarian and Swede miners that are locked up in the bank aggregate $70,000. The excitement is intense and were it believed that any considerable amount of money was in the bank, nothing could prevent the excited Slavs from breaking in the doors. The streets are thronged with miners. Cashier McGrath says that everything is correct in the bank and that if the securities on which the money deposited in the Houtzdale Bank, sent to the Clearfield Bank, are as valuable as he presumed them to be, the depositors will lose nothing.
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COULDN'T STAND THE RUN. The First National Bank of Clearfield, Pa., Compelled to Close Its Doors. CLEARFIELD. Pa., Sept. 30.-The First National Bank of Clearfield, of which William H. Dill is President. closed its doors this morning. President Dill authorizes the following: An unprecedented run on Saturday. Monday. and Tuesday on the First National Bank of Clearfield. amounting to nearly $40,000, made it impossible to continue business, and, therefore. the bank suspends payment." There has been a continuous run on this bank since December last. This was 00casioned by the fact that A. F. Boynton, formerly Vice-President of the bank, sold his stock. As a brother-in-law of the President this created distrust and made a run. HOUTZDALE, Pa.. Sept. 30.-There is intense excitement here to-night over the closing of the Dill Bank at Clearfield, and the trouble here with the old Houtzdale Bank. Hundreds of miners are parading the streets or gathering at the street corners, and trouble is feared every moment with the Huns and Slavs, who have their savings in the bank. President Dill says the depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of the teller. W. B. Hamilton. who is now in jail, charged with embezzling $45,000.
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EXCITED DEPOSITORS. HOUTZDALE (Pa.), Sept. 30.-There is intense excitement here to-night over the closing of the bank at Clearfield and trouble here with the Houtzdale Bank. The wildest rumors are floating about regarding the latter institution, though Cashier McGrath is quoted ns stating that the bank will pay dollar for dollar. Hundreds of miners are parading the streets or gathering at street corners and trouble is feared every moment with Huns and Slavs who had their all in the bank. Deposits in the First National Bank at the time of the suspension were about $100,000. President Dill says depositors of both institutions will be paid dollar for dollar. The Houtzdale Bank trouble was caused by the defalcation of Teller Hamilton a short time ago.
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EXCITED DEPOSITORS Making It Warm for the Officials of the Two Defunct Banks. HOUTZDALE, PA., Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale Banks continues. When depositors were informed they were likely to receive less than 50 per cent of their money, the lower classes formed in squads and shouted execrationa and threats against the officers that would have cortainly been put in execution had they been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night and demanded and plead with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin and other disasters in the future from private individuals were to be feared, unless he made some sort of statement showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings, President Dill returned the answer, that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon Judge Krebs appointed George W. Dickey and John Beyer receivers of the Houtzdale Bank, and they now have charge of that institution. Bank Examiner Miller took possession of the Clearfield bank. At the time of the suspension the Houtzdale bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs became alarming, the financial cloud becoming darker every hour with every new development. Men and women clamored at the doors in vain, the tide and pressure before the doors becoming 80 great that a strong guard of policemen was finally placed there and ordered to beat the howling depositors back with their clubs, as it was feared the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon the petition of one of the depositors and gave bail in the sum of $2,000.
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PUBLISHED DAILY AND TRI-WEEKLY At the Gazette Beild'g., 310 & 312 Prince at. 00 86 Daily one year 3 00 Six months 50 One month 4 00 Tri-Weekly one-year 2 00 Six,months 1 00 Three'months Contract advertisors will not be allowed to exceed their space unless the excess is paid for at translent rates, and under no circrunstances will they be allowed to advertise other.than their legitimate business in the space contracted for. Marriage and death notices must be paid for in edvence. 20 olutions in memorium, of thanks, tributes of respect, r solutions adopted by societies or persons, unleas 01 public concern, will only be printed in this paper 88 advertisements. The GAZETTE office in connected with the Telephone Exchange. Advertisements, orders for the paper, news, or any information or business can be sent by telephone. (Entered at the Positifice, Aioxandria, Virginia, BE second-class matter.l Exciting Scenes About a Bank. The excitement at Olem:f edd, Pa, concerning the First National Bank failure was Intensified Wednesday night when the condition of things at Houtzdale WES learned. The Homedale Bank is a private concern, which was tought by Dill last spring. Before he purchased it the people were dis trustful, as the former company had been dolag a locse buslness, having lost $40,000 through the defalcation of Teller William Hamliton, who is now In the When DIII took charge be placed John B McGrath, a justice of the peace, la whom the whole community had the confidence, In charge as cashier. Tais at once stimulated business, and on the first day over $9,000 was received in deposite, mostly coming (rom poor miners. At that time the deposits did not reach $60,000, but through McGrath's well known lategrity and popularity they grew until Wednesday morning they reached $200,000. Upon opening the bank Wednesday McGrath had receive to telephone the First National Bank concerning as check, and was astounded is learn that it had closed. He at once closed his bank, but had a ready recelved several deposite. The word spread apldly, and, before long, several hundred depositors were on the streets. The ignorant Hucs and Blave, of whom there are many, who have deposits running rom $200 to $2,000. grew frantic when they learned that their money FBS in danger. The larger depositors at once sought Cash ler McGrath. and he informed them that although the deposite reach $200,000, less than $60,000, paper and currency, was in the bank when It closed. He said that President DIII had removed a great amount of the money, giving as his reason that the Houizdale vauit was not secure, and that he would put it in the Clearfield ysult. When it became known that they were likely to get less than 50 cents on the dollar, the depositors grew wild, Mr. Dill had been eafering to the mining class in many and various ways for the past five years. In 1886 he gave a miners' ploalo, bringing over two thousand men, women and oblidren from Hou:zdale to Clearfield, and entertaining them in the large park there in a bandsome manner. This end many other 800 caused them to look upon him Be a sort of philanthropiat, and now they charge him with planning this sobame for years. A delegation of Honizdale depositors reached Clearfield Wednesday night and saw Dill, but be gave no satisfaction except to Bay that if they would stand by him they would come out all right. They asked him to make an assignment of the Houtzdale Bank to them or appoint a receiver. Many of them talk of instituting criminal proceedinga, but this is not likely jast now. It is said that Dill has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 to him on the representation that it would fix everything up and put the bank on its feet. Bank Examlner Miller arrived Wednes. day morolog and has charge of the bank. He has nothing to say for publication, but the people of Clearfield think the depositors of the First National will get their money.
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L BANKS WRECKED. HOW HARD-WORKING PEOPLE WERE ROBBED OF THEIR SAVINGS. A Pennsylvania Method of Fleecing the All Too Confiding-An Honest J. P. Used as a Decoy, (By telegraph to the Dispatch.] PHILADELPHIA. PA., October 1.-A special dispatch from Clearfield says: The excite. ment here concerning the First National Bank failure was intensified last night when the condition of things at Houtzdale was learned. The bank is a private concorn which was bought by Dill last spring. Before he purchased it the people were distrustful, as the former company had been doing a loose business, having lost $40,000 through the defalcation of Teller William Hamilton. who is now in the penitentiary. When Dill took charge he placed John B. McGrath, a justice of the peace, in whom the whole community had the utmost confidence, in charge as cashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, coming chiefly from poor miners. At that time the deposits did not reach $60,000. but through McGrath's integrity and popularity they grew. until yesterday morning they reached $200,000. MB. M'GRATE SURPRISED. Upon opening the bank yesterday Mc. Grath had occasion to telephone the First National Bank concerning a check, and was astounded to learn that it had closed. He at once closed his bank. but had already received several deposits. The word spread rapidly, and before long several hundred depositors wereon the streets. The ignorant Huns and Slavs, of whom there are many who had deposits of from $100 to $2,000. grew frantic when they learned that their money was in danger. The larger depositors at once sought Cashier McGrath. and he informed them that although the deposits had reached $200.000, less than $460,000 in paper and in currency wasin the bank when it closed. He said that President Dill bad removed a great amount of money, giving as his reason that the Houtzdale vault was not secure and saying that he would put it in the Clearfield vault. When it became known that they would get less than fifty cents on the dollar the depositors grew frantic, and some of the expressions were feartul to contemplate. Mr. Dill has been catering to the mining class in many and various ways for the past five years. In 1886 he gave a miners' pie-nic, bringing over two thousand men, women. and children from Houtzdale to Clearfield and entertaining them in the large park here in a handsome manner. This and many like acts caused them to look upon him as a sort of philanthropist, and now they charge him with planning this scheme for years. NOT CONSOLATORY. A delegation of Houtzdale depositors arrived here last night and saw Dill, but he gave no satisfaction except to say that if they would stand by him they would come out all right. This is all he said and they can't get any consolation from it. To-day they have asked him to make an assignment of the Houtzdale Bank to them or appoint a receiver. Many of them talk of instituting criminal proceedings, but this is not likely just now. In reference to the Clearfield Bank, there is no change except that the sympathy that was expressed yesterday for Dill 18 to-day turned into bitterness against him. Many of the friends of yesterday are enemies to-day. It is said that he has been borrowing right and left. Only a few days ago his father-in-law. Johnathan Boynton, advanced $20,000 to him on the representation that it would
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ABANK'SSTRANGE WRECK MINERS ACCUSE THE PRESIDENT OF ROBBING THEM. He Gave Them Picnics and Took Other Means to Win Their Confidence and Deposits, and shut His Doors When He Had Ecooped in $200,000. PHILADELPHIA, PA., Oct. 1.-A special dispatch from Clearfield says; "The exeitement here concerning the First National was of at the Bank condition failure things intensified last Houtzdale night when was learned. The Houtzdale bank is a private concern which was bought by Dill last Before he spring. purchased the former it the people were distrustful, as company had been doing a loose business, having lost $40,000 through the defalcation of Teller William Hamilton, who is now in the penitentiary. When Dill took charge he placed John B. McGrath, a justice of the peace, in whom the whole community had the utmost confidence, in charge as cashier. STIMULATED BUSINESS "This at once stimulated business and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well-known integrity and popularity, they grew until yesterday morning they reach $200,000. Upon the bank yesterday McGrath had a Bank occasion opening concerning to telephone check the and First was astounded He National at to learn that it had closed. once closed his bank but had already received several deposits. DEPOSITORS SURROUND THE BANK. "The news spread rapidly, and before long several hundred depositors were in the streets. The ignorant Huns and Slavs, of whom there are many, who have deposits running from $200 to $2,000, grew frantic when they heard that their money was in danger. The larger depositors at once sought Cashier McGrath and he informed them that although the deposits reach $200,000, less than $60,000 in paper and currency was in the bank when it closed. He said that President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure, and that be would put it in the Clearfield vault. THE CROWD GROWS WILD. 'When it became known that they were likely to get less than 50 cents on the dollar, the depositors grew wild and some of the expressions were fearful to contemplate. Dili had been catering to the mining class in many, and various, ways for the past five years. In 1886 he gave the miners a picnic, bringing over 2,000 men, women and children from Houtzdale to Clearfield, and entertaining them in a large park here in a handsome manner. This and many other like acts caused them to look upon him as a sort of philanthropist, and now they charge him with planning this scheme for years. DILL GIVES NO SATISFACTION. "A delegation of Houtzdale depositors arrived here last night and saw Dill, but he gave them no satisfaction, except to say that if they would stand by him they would come out all right. This is all he said, and they cannot get any consolation from it. To-day they have asked him to make an assignment of the Houtzdale bank to them or appoint a receiver. Many of them talk of instituting criminal proceedings, but this is not likely just now. In reference to the Clearfield bank there is no change excent that most of the sympathy that was expressed yesterday for Dill is to-day against him bitterly. Many of his friends of yesterday are enemies to-day. A HEAVY BORROWER. "It is said that he has been borrowing right and left. Only a few days ago bis father-in-law, Jonathan Boynton, advanced $20,000 to him on representation that it would fix everything up and put the bank on ite feet. Bank Examiner Miller arrived this morning and has charge of the bank. He has nothing to say for publication, but people here think that the de; ositors of the First National will get their money," M'GRATH AND DILL ARRESTED. A special to the / ress from Phillipsburg, Pa., says: "John B. McGrath, cashier of the Houtzdale Bank, was arrested to-night charged with embezzlement. A warrant was also issued for the arrest of William H. Dill. John Beyer and George W. Dickey have been acpointed receivers for the Houtzdale Bank. The bank bad $200,000 on deposits. In Phillipsburg the banks were prepared for a heavy run, and the Hungarians drew out considerable money. It is not likely that the trouble will extend any further at present."
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EXCITED HUNS. They Assault Bank President Dill. President and Cashier Arrested. HOUTZDALE, Pa., Oct. 2.-John B. McGrath, cashier of the Houtzdale bank, and W. H. Dill, president, were arrested last night, charged with embezzlement. The wa rant against Dill was sworn out by Elizabeth Dilk, a depositor in the bank. Both furnished bail in $2,000. As Dill was leaving the court house a half drunken Hungarian, whose money is locked up in the bank, grabbed him roughly by the arm. Five other Huns jumped into the fray, quickly followed by as many officers. Dill was roughly handled before he escaped to his house. The house is guarded by police officers, who are kept busy in driving the half drunken Huns away. An order has been given to close all saloons in order to prevent the furious Huns from obtaining liquor. Cashier McGrath estimates the liabilities at about $200,000, and says that in case they get nothing from Clearfield they will be able to pay fifty cents on the dollar. The following statement was dictated by Bank President Dill: "Family treachery on the part of my brother-in-law, A. F. Boynton, was the cause of the assignment and failure. At the time I was elected president of the bank I also found that J. B. Nevling, former teller, later cashier, was a traitor to the business interests of the bank. I demanded his resignation, and since that time there has been a persistent run on the bank, and on Tuesday last I considered it unwise to keep the bank open. Depositors in both banks will be paid in full." Bank Examiner Miller has taken charge of the bank.
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Depositors Threaten the Officers of the Clearfield and Houtzdale Banks. HUNS AND SLAVS GROW FRANTIC. Dill Removes a Great Deal of Money, Pretending That the Vault $1 By Telegraph to the NEWS.I 'SHNVO GALL The Excitement Over Their Suspen. sion Continues. HOUTZDALF, Pa., Oct. - 1.- The ex. citement over the suspensions of the the Clearfield and Houtzdale banks continues. When the depositors were informed that they were likely to receive less than 50 per cent. of their money the lower classes formed in puw should pen spenbs threats against the officers, that would R certainly have been put in execution 0 had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield tonight and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and 3 other disasters in future from private . individuals were to be feared unless he D made some sort of a statement, show. : ing what he could and would do in P paying the vastarmy of depositors even *I of the two banks. To all these plead" ings President Dill returned the an. *4 swer that he was all right and the -1 banks were all right, and if the depos. itors stood by him they would be all right. p This afternoon receivers for the Houtzdale Bank were appointed, and they are now in charge. Bank Examiner Miller took possession of the 'I Clearfield Bank. At the time of the is suspension the Houtzdate Bank had : deposits of $200,000, but there was less : than $61,000 in the vaults. This afteru noon and tonight affairs have become at alarming. Men and women clamored 'I at the doors in valn, the tide and presB( sure before the doors becoming 80 great that a strong guard of policemen was finally placed there and ordered to beat
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Houtzdale Bank Officers Arrested. PHILLIPSBURG, Pa., Oct. 2.-John B. McGrath, cashier of the Houtzdale Bank, was arrested last night, charged with embezzlement. A warrant was also issued for the arrest of President William H. Dill. John Beyer and George W. Dickey of Houtzdale have been appointed receivers for the Houtzdale Bank by Judge Kress.
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Special to the RECORD-UNION. HOUTZDALE (Pa.), Oct. 1.-The excitement over the suspension of the Clearfield and Houtzdale banks continues. When the depositors were informed that that they were likely to receive less than fifty per cent. of their money, the lower classes formed in squads and shouted execrations and threats against the officers, that would certainly have been put into execution had the latter been found. A large delegation of Houtzdale citizens called on President Dill at Clearfield to-night, and demanded and pleaded with him that he make some satisfactory statement. They pointed out that the two towns were actually threatened with financial ruin, and (other disasters in future from private individuals were to be feared unless he made some sort of statement, showing what he could and would do in paying the vast army of depositors in the two banks. To all these pleadings President Dill returned the answer that he was all right and the banks were all right, and if the depositors stood by him they would be all right. This afternoon receivers for the Houtzdale Bank were appointed, and they are now in charge. Bank Examiner Miller took possession of the Clearfield Bank. At the time of the suspension the Houtzdale Bank had deposits of $200,000, but there was less than $60,000 in the vaults. This afternoon and to-night affairs have become alarming. Men: and women clamored at the doors in vain, the tide and pressure before the doors becoming SO great that a strong guard of policemen was finally placed there, and ordered to beat the howling depositors back with clubs, as it was feared that the bank would be demolished and looted. President Dill and Cashier McGrath were arrested to-night upon a petition of one depositor, and gave bail in the sum of $2,000. THE SITUATION AT CLEARFIELD. CLEARFIELD (Pa.), Oct. 1.-Excitement here concerning the First National Bank failure was intensified last night when the condition of things at Houtzdale was learned. The Houtzdale Bank is a private concern, bought by Dill last spring. When Dill took charge he placed John B. McGrath, in whom the community had the utmost confidence, in charge as chashier. This at once stimulated business, and on the first day over $9,000 was received in deposits, mostly coming from poor miners. At that time the deposits did not reach $60,000, but through McGrath's well-known integrity and popularity they grew, until yesterday morning they reach $200,000. Upon opening the bank yesterday McGrath had occasion to telephone the First National Bank concerning a check, and was astounded to learn that it had closed. He at once closed his bank, but had already received several deposits. Word spread rapidly, and before long several Hundred depositors were on the streets. Ignorant Huns and Slavs, who have deposits running from $200 to $2,000, grew frantic when they learned that their money was in danger. The larger depositors at once sought Cashier McGrath, and he informed them that although the deposits reach $200,000, less than $30,000 in paper and currency was in the bank when it closed. He said President Dill had removed a great amount of money, giving as his reason that the Houtzdale vault was not secure, and he would put it in the Clearfield vault. Many of Dell's friends of yesterday are enemies to-day. It is said that he has been borrowing right and left. Only a few days ago his father-in-law, Jonathan Boynton, advanced $20,000 on representation that it would fix everything up and put the bank on its feet.
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CHARGED WITH EMBEZZLEMENT. President Dill of the Clearfield Bank Again Arrested. CLEARFIELD (Pa.), Oct. 2.-President Dill of the defunct Houtzdale and Clearfield Banks was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out in Houtzdale charging him with the embezzlement of $85,000. He secured bail for the other charges, but has not been able to secure another dollar of bail, and is now at his home closely guarded by officers. It is believed that he will go to jail some time to-night, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah to-morrow morning. When the news spread that Mr. Dill was arrested the trouble with depositors broke out anow. and the excitem ent tonight is almost as great as when the banks first failed. It was generally thought that no arrests would be made, at least till later on, and the Bank Examiner, who is in charge of the Clearfield Bank, and Receivers Byers and Dickey of the Houtzdale Bank, were allowed to go quietly on with their work of investigating tire books of the bank, when they stumbled on accounts and entries which caused their arrest. The Huns and Slavs are wild over their losses, and to-night the late President was burned in effigy.
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THREE TIMES ARRESTED. President Dill of the Clearfield Bank Again in Custody. CLEARFIELD (Pa.), Oct. 2.-President Dill of the defunct Houtzdale and Clearfield banks was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out in Houtzdale charging him with the embezzlement of $85,000. He secured bail for the other charges, but has not been able to secure another dollar bail and is now at his home closely guarded by officers. It is believed he will go to jall some time to-night, but the officers say they will try and keep him in the house until the arrival of United States District Attorney Lyon and United States Marshal Barrah to-morrow morning. When the news spread that Mr. Dill was arrested troubla with depositors broke out anew, and the excitement to-night was almost as great as when the banks first failed. It was generally thought no arrests would be made-at least till later on, and the Bank Examiner, who is in charge of the Clearfield Bank, and Receivers Byers and Dickey of Houtzdale were allowed to go quietly on with their work of investigating the books of the bank, when they stumbled on accounts and entries which caused the arrest. The Huns and Slavs are still wild over their losses, and to-night the late President was burned in effigy. Gunpowder was first made by a monk at Cologne in 1330.
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THE THIRD TIME. Clearfield's Bank President ArrestedCan't Get Bond. PITTSBURG, PA., October 3.-A Clearfield, Pa., Trl-State News Bureau special says: President Dill, of the defunct Houtzdale and Clearfield Banks was arrested again to-night, making the third time to-day. The last arrest was made on a warrant sworn out In Houtzdale charging him with embezzling $85,000. He had just secured ball for the other charges and the new suit created a panic among the bondsmen. He has not yet been able to secure another dollar of bail, and he is now at his home closely guarded by officers, two deputies being sent there this evening. It is believed he will go to jail some time to-night, but officers say they will try and keep him in his own house until the arrival of U. S. District Attorney Lyon and U. S. Marshal Darrah, both of Pittsburg, who have been telegraphed for and will arrive here to-morrow morning. When the news spread that Dill was to be arrested, the trouble with depositors broke out anew and the excitement to-night is almost as great as when the banks first failed. It was generally thought that no arrests would be made at least until later on, and Bank Examiner Miller, in charge of the Clearfield bank, and Receivers Byers and Dickey, of Houtzdale, were allowed to go quietly on with their work investigating the books of the bank, when they stumbled on entries which caused the arrest. The Huns and Siavs are still wild over their Lysses, and to-night the late President was burned in effigy.
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since the Clearfield Bank closed and the Houtzdale Bank failed, the Phillipsburg Institution has experienced an unprecedented run. The miners and their friends first took alarm from the reports from Houtzdale, and began an open onalaught on the local bank, gathering there in a line and steadily drawing deposits of $500 and $1000 without R word of comment on either side. The bank stood the pressure easily and paid out thousands within the last three banking days; then the heavy depositors took fright, and the result was the announcement today. The president of the bank is Jonathan Boynton, father-in-law of President Dill of the Houtzdale and Clearfield banks.
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BANKER DILL'S METHOD? Did Business Without Capital and Used the Depositors' Cash. CLEARFIELD, Ps., Feb. .-The trial of Banker Dill of the suspended Houtzdale institution, for converting to his own use $25,000 drawn against the account of the Houtzdale Bank on the Chestnut Street National Bank of Philadelphia, began to-day. Cashier McGrath testified that be knew nothing of the transaction complained of until the monthly statement was received from Philadelphia, He testified that he and Dill entered into partnership without capital, and took charge of the Houtzdale Bank. They advertised a capital of $850,000, but did business wholly on money deposited. This money, taken by Dill, belonged to depositors. At different times Dill took money, aggregating about $80,000 belonging to depositors and brought it to Clearfield, saying that he did 80 because the Houtzdale vault was not se. cure. Only $15,000 of this money was credited to the Houtzdale Bank, the rew mainder was credited to Dill's private account.
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DILL DISCHARGED Judge Mayer Takes tle Case from the Jary. PITTSBURG, Pa., Feb. 5-A Clear&eld special dispatch says: The trial of President Dill of the First National Bank of Clearfield and of the Houtzdale Bank has come to a sudden ending. From the nature of the evidence Judge Mayer took the case from the jury and ruled that the First National Bank was responsible for the amount of the draft, and that Dill could not be convicted in the light of the evidence adduced. The Judge directed that a verdict of "not guilty, but pay the costs" be entered on the record and Dill was discharged. Attorney Snyder then made a motion for Dill's discharge from answering the charges of embezzlement on the ground that two terms of Court had elapsed and no bills of indictment had been found. The order asked for was granted and Dill was discharged on all the Commonwealth cases on the docket in this county. The depositors of the Clearfield National Bank are much exercised over Judge Mayer's rulings, while the Houtzdale depositors are much elated. The civil suit to recover the $80,000 by the Houtzdald Bank receivers will be tried next week.