3793. Dime Savings Bank (Chicago, IL)

Bank Information

Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
savings bank
Start Date
December 28, 1896
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
469eed027295fdb5

Response Measures

None

Description

A run of depositors followed the Atlas National Bank failure (Dec 1896), prompting the Dime to invoke the 90-day withdrawal notice (suspension of payments) beginning Dec 28, 1896. Stockholders temporarily recapitalized the bank (early Jan 1897) and rules were relaxed to allow some needy withdrawals, but a receiver was appointed Jan 30, 1897 and the bank was being wound up. Cause of run/suspension appears linked to distress of a local bank (Atlas National) rather than a factual miscommunication or isolated rumor. OCR in articles showed minor garbling but key facts/dates are clear.

Events (5)
1. December 28, 1896 Run
Cause
Local Banks
Cause Details
Withdrawals and depositor alarm triggered by the failure/liquidation of the Atlas National Bank in Chicago; many depositors filed withdrawal notices.
Measures
Bank required depositors to give 90 days' notice for withdrawals (invoked statutory 90-day rule) and barricaded paying window.
Newspaper Excerpt
a steady stream of depositors today during banking hours
Source
newspapers
2. December 28, 1896 Suspension
Cause
Local Banks
Cause Details
Suspension (use of 90-day notice) was enacted in response to heavy withdrawals following Atlas National Bank's liquidation and resulting depositor pressure.
Newspaper Excerpt
payments are suspended under the ninety-day withdrawal notice clause
Source
newspapers
3. January 1, 1897 Other
Newspaper Excerpt
Stockholders Furnish the Money Needed. Chicago Dime Savings Bank Now on Solid Basis. Assessment of Fifty Per Cent. Was Paid by Stockholders.
Source
newspapers
4. January 5, 1897 Reopening
Newspaper Excerpt
The rules requiring ninety days' notice ... is being relaxed at the Dime Savings Bank for needy depositors, and considerable money was paid out yesterday for the first time since the suspension ... (payments resumed for needy).
Source
newspapers
5. January 30, 1897 Receivership
Newspaper Excerpt
Judge Freeman today appointed Ralph Metcalf receiver for the Dime Savings Bank; directors consented to the appointment. Deposits and other liabilities amount to $365,000, and the cash in hand $125,000.
Source
newspapers

Newspaper Articles (24)
1. December 28, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, December 28, 1896

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Under Same BY LOWED of Bank Scandia It, Mortgage the and Laconia Car Company. Atlas business of the Mead failure Truat Central owcroft a year bank, Savings through had the bank defundable clearances Presi to be amp of the Atlas, failure. and eposit The secure and its at the said time it would was president bank cently lose Grannis by the Paulseu, who & Savings $ 50,000 against bank, the brought W. C. W Central A. Trust suit for D. Grannis Atlas Farwell. upon Paul trouble of ben had time the of failure concern. his alleged Panlsen the Charles The with B. is the basad Central bank at Trust the & Saving bank although had sufficient to deposited claims the bank facilities to forced assign. The posits being of the failure Partly of last bank week, Illinois, off iDK Atlas pay began bank National the first thus to-day marking positora No in iness. step from busine HB and as fast were up were hecked up. paid taken The Atlas by the close deposit were books from National of bank Illinois, counts in full and suffered their heavil the aggrega been having deposithdrawn the down resources figure. at the The house clearing committee of of the the invest bank, officers request ed and the its solv bank ccounts the ent. com expedite the the ledged mittee Associate of banks Chicago. B. said Farwell been have paid will off, a large dollar.' day: Vice- believe After the of their interest, in 1887. The shows $1,860 to every Atlas was organized 17, Deposits 500,000. months statement to amounted DIME FAILS. In Chicago. of the the ment posits ago of an agree Dime among directors George Savings and to-day the Reed's Rayments day granted to the savings statutes of the D. Atlae Grannis, of the of the are Natio Savings the Atlas of the W. c. bank, bank, Nationali bank SayDime directors of directory bank Nationali tion had the of Dime also ings on bank Officials of the Atlas Atlas the future the a was as the directors. vigorotic in any denied way infinenced Savings bank gilenoe of the bank Amajority of the the were course action there of the Dime notices. Savings They no depositphete withdrawing of DO was the tice bank's to all but meet simply ability the violent means adiented protection the Nearly Hurries. depositors people. laboring IN BE WILL FULL said Eskles Washing of Atlas closing National was voluntary entirely be volunteer said Eckles would full once, through Chicago clearing house, bank day of the Chicago the reditoravances made in will Blookholders the the cent. realize opinion 100 per TRUST COMPANY Se the of -The failore Dallas, Texas. & Dany creat comp curity in Mortgage circles 1008, Many expected the for but public trouble the failare. generally The that local losses will be ively insigni will and nitalists foreign eastern 000 on $1 their fully ventures. of and the lities The figures Agreta Liabilifollows: $1 ties, $25,000; $10, $859,000; interest on "stocks, liabilities 500,000; in bonds sale taxes, $17,000; and Mortgages, $114,000; mortgage various sold nets, 000; $500.000; $50,000; $650,000. Total are trust Sab.co company the companies Farm Texas building com atment pany, Land com and Mills pany Cotton associaBuilding tion. PAYING TELLER DISAPPRAHA. St. Paul says from of AUS the Leander of Bank disap. pended is s mail There Chicago Busch, special Payinnesota, teller has Dancy his OF FAILS. SUPERIOR of SaThe Wis. bank in the east doing ment West business assign Henrys y. $6,000 Butler. period ded suspended the directors directors $25,000 cartional capital deposits by menace. the The made bank had The big proportant influence enced small on mostly to liqai amounts unless decline date in in the assets. closing. of slight run and The the bank there expents continual com Car Laconia Laconia, Jia to day, pany was bilities THE FAILS SCANDIA The bank Scandia It Minneapory bank was small on real with which estate not realize.

2. December 28, 1896 Evening Star Washington, DC
Article from Evening Star, December 28, 1896

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NINETY-DAY NOTICE DEMANDED. Steady Stream of Depositors at a Chieago Savings Bank. CHICAGO, December 28.-In pursuance of an agreement among directors of the Dime Savings Bank, who held a secret session this morning, a general meeting of the creditors was called for this afternoon at 3 o'clock. Treasurer Geo. W. Reed's window is barricaded and payments are suspended under the ninety-day withdrawal notice clause, granted in the statutes to savings banks. The majority of the Dime Savings Bank depositors have already filed their withdrawal notices. There was a steady stream of depositors today during banking hours. They were assured that the issuing of the notices was in no way an indication of the bank's inability to meet all demands for money, but simply a means of self-protection against violent durries. Nearly all of the depositors are laboring people.

3. December 29, 1896 Birmingham State Herald Birmingham, AL
Article from Birmingham State Herald, December 29, 1896

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HOUSE FUNDS CLEARING Required to Assist the Atlas National Bank. HOUSE ANOTHER CHICAGO Steady eam of Depositors Call at the Office for Funds. IN BANK SAVINGS TROUBLE Stockholders Hope to Recover Sufficient to Reimburse ThemselvesThe Failure Precipitated a Small Sized Panic. Chicago, Dec. 28.-The Atlas National Bank, at Washington and La Salle streets was practically in charge of the House Chicago Clearing association, financial insti- representing the associated the city, when the doors were to the public at 10 opened tutions of o'clock former this morning. William C. Oakley, a bank examiner, was of the associated sunational the agent banks appointed details to the clerical and other with the work of in perintend connection voluntary cash aswith the necessary of the other banks. and other assets sistance eral liquidation securities The of collat- the will be turned over to Isaac chairman of G. Atlas Lombard, Bank the of clearing the ascommittee as trustee banks as quickly as house sociated bank the deposi- cash equivalent is paid to the tors. There was a steady stream of serious-faced business men and other creditors of the Atlas Bank passing into the building all morning. Their steps were bent towards the desks of Cashier S. tell- W. Stone, his assistant and the paying er, where anxious inquiries were made deto how and when the money on as posit would be paid by the bank. Most of the callers brought their pass books showing the balances to their credit. The books were received and the owners informed that as soon as their accounts were balanced on the books, checks on Trustee Isaac G. Lombard, president of the National Bank of America, for the full amount of their claims will be sent. Small accounts were paid in full when presented this morning, but in no case did the large depositors press for immediate payment, accepting the signed guarantee of the banks in the clearing house that all depositors would get their money in full. Many business men and bankers called to express their sympathy with the officers and directors of the bank. It is believed the stockholders will get nearly all that is due them at par. The well known connection between the Atlas bank and the Dime Savings bank, a small but old institution, causes the circulation of the report that it would also be forced to liquidate. Its doors were opened for business as usual, but there was little business to do. Depositors came to draw out their savings, but they were presented with a blank notice to the bank that If they desired to withdraw so much in ninety days from date, and required to fill out the paper. This protective rule of the bank, which was put in force December 23, exceeds the highest limit of other savings banks by thirty days, and it was made applicable today by the Dime Savings bank depositors of the smallest amounts. This rule is not enforced in normal financial times, but it was regarded necessary for the present at least by President Samuel G. Bailey. Considerable |money is due it from the Atlas bank. The Chicago Safety Vaults are also operated in connection with the bank. Other banks of the city were doing business under normal condition this morning. The officers and directors of the Dime Savings bank were not at the bank this morning to answer the numerous and anxious inquiries of depositors. It was stated that they were out attending a meeting to decide on a course of action. In view of the Atlas bank liquidation, the general opinion is that the Dime bank will follow the Atlas into voluntary liquidation within ninety days. The enforcement of the ninety days' rule on depositors who wanted to withdraw after the big bank collapsed last week did not create any excitement at the Dime bank, as the trouble did at other savings banks Depositors accepted the statement of the bank officials that the precaution was best for all concerned and the ninety days' notice could be withdrawn for immediate payment of depositors at any time the cash resources warranted such a step. The Atlas liquidation, however, brought such a run of depositors for their money that the decision was reached this morning to advise all persons not to deposit any more of their savings because they might not get what they had deposit for ninety days The hint on was amply sufficient to stop deposits and the bank relapsed into a state of suspended animation pending developments.

4. December 29, 1896 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 29, 1896

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BUSINESS TROUBLES. I Chicago Dime Savings Bank. CHICAGO, Dec. 28.-Dime Savings bank payments are suspended under the ninetyday withdrawal notice clause granted in the statutes to savings banks. W. C. D. Grannis, president of the Atlas National, is vice president of the Dime Savings bank, and several directors of the Atlas National are also on the directory of the savings bank. The officials of the Atlas National vigorously deny that the Atlas liquidation has in any way influenced the course of the Dime Savings bank. At the latter a persistent silence was maintained. A majority of the depositors have filed withdrawal notices. There was a steady stream today during banking hours. They were assured that the Issuing of the notice was no indication of inability to meet demands for money, but simply was a means of protection against violent flurries. Nearly all the depositors are laboring people. At a meeting of the directors held this afternoon It was said that the bank was in good condition and would weather the storm in good shape. No particular plan was decided on. and the bank will continue business as usual. The Atlas Liquidation. WASHINGTON, Dec. 28.-Comptroller Dokels said today that the closing of the Atlas National bank of Chicago was entirely voluntary, and the information he had received indicated that all the bank's creditore would receive payment in full and that tis affairs would be settled promptly. Mr. Eckels said that in his opinion the stockholders eventually would realize 100 per cent. The last public statement of the condition of the Atlas National bank was given in response to the call of Comptroller Eckels, after the National Bank of IIIInois closed. and involved dealings up to the close of business December 17 last. The report follows: Resources-Loans and discounts, $1,941,742.59; overdrafts, $7,620.47; United States and other bonds, $59,384; premium on bonds, $3,350: real estate, furniture and fixtures, $57,177.81: redemption fund. $2,250; cash and sight exchange, $820,638.63 total. $2,892,063.39. LiabilitiesCapital stock, $700,000; surplus fund. $140,000; undivided profits, $49,081.23: circulation, $42,430: bills payable, $100,000; deposits, $1,860,412.16: total, $2,892,063.39. Van Northwick Brothers Assign. BATAVIA. III., Dec. 28-The liquidation of the Atlas bank of Chicago has precipitated the suspension of the Van Nortwick bank of Batavia, and the assignment of William 8. and James Van Nortwick of all their vast property Interests, aggregating $2,500,000. to the Equitable Trust Company. of Chicago. Articles of assignment were filed in the Kane county court at Geneva and were three in number, William M. and John 8. Van Norwick each assigning 0.8 individuals and the two assigning as & firm. Their schedule of indebtedness was not filed with the articles of assignment, but the liabilities are said to aggregate $2,000,-

5. December 31, 1896 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, December 31, 1896

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ATT $ Arthur Lingard died at Lancaster, Years' 107 page NO Gen. John Meredith Read, American diplomatist, died in Paris Sunday. Capt. Ziba Taylor, a ferryboat pilot, died in Camden, N. J., on Saturday. Frank Bodine was drowned Monday in the Toms river while skating. The court bouse at Binghamton, N. Y., was destroyed by fire Monday night. The doors of the Seandia Bank in Minneapolis, Minn., were closed Monday. Duncan Elliot's residence, near West Kepung period SEM "I "I Checker, Loss, $50,000. Prof. Emil Du Bois-Raymond, a distinguished physiologist, died in Berlin on Saturday. Allen Hubbs of Palmyra, N. J., died on Saturday of injuries sustained by being struck by a train. A fire in the postoffice block at A mesbury, Mass, Sunday, damaged property valued at $60,000. William Livenstein, president pro tem of the Virginia State Senate, died in Richmond on Saturday. The Windsor Hotel and seven or eight business houses at Pottsdam, N. Y., were burned on Saturday night. Alfred R. Tubbs, a California cordage manufacturer and "Forty-niner," died in San Francisco on Saturday. Anticipating a run, Monday, the Bank of Superior. in Superior, Wis., did not open its doors for business. Luiu Stultz committed suicide in a fit of anger because her parents reproved her, at Delaware, O., Monday. By the burning of a number of stores and dwellings at Rendham, Pa., 11 families were Monday made homeless. Sir John Brown. one of the first men in Great Britain to advocate the plating of warships with armor, died on Saturday. In the United States court in Louisville, Ky., on Monday, Judge Barr ordered the sale of the Ohio Valley railroad. Charles W. Hoffman, LL. D., for 26 years librarian of the supreme court of the United States, died at Frederick, Md., Sunday. A semi official denial is given to the report that the late Alfred Nobel left his fortune of $10,000,000 to the Stockholm University. Depositors in the Dime Savings Bank in Chicago were yesterday notified that 90 days' notice will be required for the withdrawal of funds. It was announced Monday that the boycott against the Clover Leaf route (Toledo, St. Louis & Kansas City railroad) has been removed. The Governor of Georgia has pardoned Harry Hill and Sidney Lascelles, alias 'Lord Beresford, " both of whom were convicted of forgery. Up to Monday there had been 2,094 cases and 1,494 deaths from the bubonic plague in Bombay. People are still fleeing from the city. The schooner Elizabeth Foster was towed into Gloucester, Mass., Monday in a leaking condition and with her crew badly frost-bitten. During a raid on a low drinking re19210 no Louis 7S 188T a! 1208 Detective John Payton was fatally shot "Ρ€Π΅Ρ€ΠΈΠΏΠΎΠΌ SEM others OM7 pue Three masked men, armed with revolvers, entered the saloon of Mrs. Mary Bernbardt. Chicago, on Sunday night and robbed the place of 84 O. The Belgium Minister, Alfred Leghait, presented to President Cleveland on Saturday his letters of recall. He is to be transferred to St. Petersburg. A resolution was introduced in the Boston Board of Aldermen Monday for the purchase by the city of a controlling interest in the West End street railway. Judge Owens of Owensboro, Ky., Monday ordered the grand jury to lay aside all other business until they indicted the lynchers of Alfred Holt, colored. The ice on the Susquehanna river at earl B that 40191 os s! "BJ Columbia of sleighs has superseded the steam ferry in conveying passengers to Wrightsville. JBOU mine coal P u! exploine UR Eg Princeton, Ind., on Saturday, six men were killed, one person was buried beyond hope of recovery and eight men were injured. Gregor Kriechbaum and his wife, an aged couple who lived over a grocery pournq 0.10M "I at Johnstine 10 0.018 to death Monday by a fire which destroyed the store. z. H. York was arrested in Chicago on Saturday while claiming an express package which was found to contain four photographic counterfeits of

6. January 1, 1897 The Providence News Providence, RI
Article from The Providence News, January 1, 1897

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Stockholders Furnish the Money Needed. Chicago Dime Savings Bank Now on Solid Basis. Assessment of Fifty Per Cent. Was Paid by Stockholders. CHICAGO, Jan. 1.-The Dime Savings Bank has been saved, it is announced, by the sacrifice of the stock holders who have gone down into their pockets and paid the assessment of some 50 per cent. The examination of Auditor Gore is understood to have shown a large deficiency in the assets and rather than have the institution close its doors leaving its 4000 depositors to suffer, the directors put the bank on its feet. So successful were they that the State auditor gave his full endorsement to the new condition of the, institution. The cash reserve was increased to over 25 per cent. of the deposits as compared with the legal reserve of 15 per cent. for savings banks. Just how soon the 90-day notice for depositors will be witndrawn has not been determined. It is stated the Dime Savings bank will soon be sold to some one of the stronger banks.

7. January 1, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 1, 1897

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Telegraphic Briefs. London, Eng.-The French coasting steamer Deux Freres, from Fecamp for Calais, has foundered in the English channel, and her crew of fifteen men been drowned. Tyler, Tex.-An assignment was made by the Tyler Foundry and Machine Company. This is one of the largest concerns of its kind in the State. Assets and liabilities unknown. Dallas, Tex.-Private advices from Galveston state that the liabilities of the drygoods firm of Fellman & Grumbach will be at least $1,000,000. Washington.-The President issued a proclamation promulgating the action of Congress, providing regulations for preventing collisions at sea, and setting July 1, 1897, as the day upon which they shall take effect. New York.-President Eames, of the Stock Exchange, announced formally from the rostrum the expulsion by the governors of William Euclid Young, a member of the firm of E. B. Cuthbert & Co. Galveston, Tex.-Fellman & Grumbach, large retail dry-goods dealers, filed a deed of trust for the benefit of their creditors. Preferences are given to the amount of $193,336. It is stated that all the employees of the company were paid in full, Chicago.-Counselman & Day, one of the big Board of Trade and stock brokerage firms, are made defendants in a suit, filed by Hugh McFarlane, who has speculated in railroad and other stocks through the firm, and lost $52,794. according to the declarations made in his bill. He sets up the law against gambling debts. Chicago.-At a special meeting of the new Board of Directors of the Dime Savings Bank. Ralph Metcalf was appointed treasurer of the bank, a position equivalent to that of manager. He said he had received no orders as to the bank's future, and would only say the directors had arranged to meet every dollar of the deposits when due, or before. Chicago.-After much litigation in State and Federal courts, Judge Hanech appointed James Furlong and Justice Thomas Bradwell receivers for the International Building, Loan and Investment Union, at the instance of a stockholder. His bill was the sixth one filed against the association in a short time. The receivership will consolidate the various suits. Misappropriation of funds by former officers is among the allegations.

8. January 2, 1897 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, January 2, 1897

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SAVINGS BANK SAVED. The Stockholders Pay an Assessment of Fifty Per Cent. Chicago, Jan. 1.-The Dime Savings bank has been saved, it is said, by the sacrifice of the stockholders, who have gone down into their pockets and paid an assessment of some 50 per cent. The examination of Auditor Gore is understood to have shown a large deficiency in the bank's assets, and rather than have the institution close its doors, leaving its 4,000 depositors to suffer, the directors put the bank on its feet. So successful were they that the state auditor gave his full endorsement to the new condition of the institution. The cash reserve was increased to over 25 per cent. of the deposits, as compared with the legal reserve of 15 per cent. for savings banks. Just how the ninety-day notice for depositors will be withdrawn had not been determined. It is said that the Dime Savings bank will soon be sold to some one of the stronger banks.

9. January 2, 1897 The Democratic Advocate Westminster, MD
Article from The Democratic Advocate, January 2, 1897

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More Prosperity(?) Norton & Company who run the Lockport flouring mills in Chicago, Illinois, have failed. The mills have been running for over 40 years. The Atlas National Bank, of Chicago, decided to retire from business. The Clearing House Commit. tee, at a special meeting Saturday night, decided that the associated banks of the city would advance the amount needed to pay its depositors in full. The amount required is in the neighborhood of $600,000. A receiver was appointed at Dallas, Texas, on Saturday, for the Security Mortgage and Trust Company. It is said that the liabilities will reach $2,000,000, and the assets about $1,000,000. A receiver has been appointed for the Columbus and Hocking Coal and Iron Company, at Columbus, Ohio. It is said that the failure of the Security Mortgage and Trust Company of Dallas, Texas, will cause a loss of $1,500,000 to Eastern and foreign capitalists. The Dime Savings Bank of Chicago took advantage of the ninety-day withdra notice law and suspended payment. The Bank of Superior, at West Superior, Wis., suspended payment on account of a run with which it was threatened. The Scandia Bank of Minneapolis also suspended payment, being unable to realize on assets. C. H. Hardish, Roanoke, Virginia, merchandise, has failed. The Commercial National Bank closed on Tuesday. The Lehigh Mills, in South Easton, Pa., manufacturers of cotton goods, have shut down for four months. Depression in business is given as the cause of the shut down. One hundred employes are affected. The plant was started 100 years ago, and this is the first shut down it has experienced. Ogle McCullough, stationer, Elkton, Md., has failed. Van Nortwick Bros., bankers at Batavia, III., and holders of large property interests in several States, have mades assignment. The Columbia National Bank and the Washington Bank, a State institution, have closed their doors at Minneapolis. Lane county, Kansas, has been declared insolvent. The Alva Hubbard Heating Company and Snellenberger & Son, wholesale dry goods, etc., Baltimore, Md., have assigned. A receiver has been appointed at Sioux City, Iowa, for the Farmers' Trust Co., of that place. Isaac Prager & Sons, of Parkersburg, West Virginia, a retail dry goods firm of long standing, has assigned. Estimated liabilities are $100,000; assets about the same. Pheasant & Wagner, owners of large general merchandise stores in Hollidaysburg, Pa., and in Kipple, Blair county, failed, in consequence of the recent suspension of the banking house of Gardner, Morrow & Co. The liabilitles are $12,000: assets $18,000. M. J. Rosenberg, trading as Milton & Co., retail clothiers, Philadelplia, Pa., have failed. The Anhor Grain Company, operating on the West Superior Board of Trade, has made an assignment. D. V. Iseman, one of the leading clothiers of Newport News, Va., has assigned. Charles G. Ross, surviving partner of Chas. G. Ross & Co., dry goods commission merchant, of New York, has assigned. Everett's Hotel, Vesey and Barclay streets, New York, one of the oldest and best-known establishments of its kind in that city, is closed. In Austin, Tex., G. A. Bahn, leading jeweler, has made an assignment.

10. January 6, 1897 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, January 6, 1897

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CONDITIONS ARE EASIER. The Dime Savings Bank. of Chicago, is Making Demands. Chicago, Jan. 5.--The rules requiring ninety days' notice for the withdrawal of deposits is being relaxed at the Dime Savings Bank for needy depositors, and considerable money was paid out yesterday for the first time since the suspension of the Bank of Illinois, This action was the result of the recent strengthening of the institution by the assessment of 50 per cent on the stockholders. Negotiations for the sale of the Dime Savings Bank are said to be at an end for the time at least.

11. January 6, 1897 The Times Richmond, VA
Article from The Times, January 6, 1897

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Time Limit Removed. CHICAGO, Jan. 5.-The rules requiring ninety days for the notice for the withdrawal of deposits is being relaxed at the Dime Savings Banks for needy depositors, and considerable money was paid out yesterday for the first time since the suspension of the National Bank of Illinois, This action was the result of the recent strengthening of the institution by the assessment of 50 per cent. on the stockholders. Negotiations for the sale of the Dime Savings Bank are said to be at an end for the time being.

12. January 6, 1897 The Morning News Savannah, GA
Article from The Morning News, January 6, 1897

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NINETY DAY'S RULE RELAXED. Needy Depositors Allowed to Draw Out Their Money. Chicago, Jan. 5.-The rules requiring ninety days' notice for the withdrawal of deposits it being relaxed at the Dime Savings Bank for needy depositors, and considerable money was paid out yesterday, for the first time since the suspension of the National Bank of Illinois. This action was the result of the recent strengthening of the institution by the assessment of 50 per cent. on the stockholders. Negotiations for the sale of the Dime Savings Bank are said to be at an end for the time being.

13. January 6, 1897 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 6, 1897

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CHICAGO DIME SAVINGS BANK. Ninety-Day-Notice Rule RelaxedSale Negotiations Ended. CHICAGO, ILL, January 5.-The rule requiring ninety days' notice for the withdrawal of deposits is being relaxed at the Dime Savings Bank for needy depositors, and considerable money was paid out yesterday, for the first time since the suspension of the National Bank of Illinois. This action was the result of the recent strengthening of the institution by the assessment of 50 per cent. on the stockholders. The negotiations for the sale of the Dime Savings Bank are said to be at an end, for the time being.

14. January 7, 1897 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, January 7, 1897

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LATE NEWS NOTES. Nashville, Tenn., had a $400,000 fire. During 1896 English railway receipts increased $16,000,000. The health of the crazy King Otto of Bavaria has remarkably improved of late. General Daniel E. Sickles is very ill from the effects of overwork in the recent campaign. As the result of a telephone war Northern Michigan towns are enjoying free telephones. Governor Leedy, of Kansas, will continue the police board system of the cities of the first-class. It is said that Mr. Bryan is using his influence in Kansas for John Atwood for United States senator. The Western Paper Bag company of Chicago. one of the Van Nortwick plants, is in the hands of a receiver. Lord Penrhyn has closed down his state quarries in Wales and thrown 5,000 men out of work rather than give in to the union. Attorney General Boyle of Kansas has appointed George R. Snelling of Anthony. a Silver Republican, assistant attorney general. The Pennsylvania senatorial contest is very warm. Wanamaker and Penrose are the only candidates. Quay is working for Penrose. The increase in the French army is to be offset in Germany by a similar increase in the army and navy atacost of 50,000,000 marks. Nearly every oatmeal and cereal mill in the United States has just entered into a trust, and prices will be advanced. Jimmy Duffy, a featherweight pugilist, of Boston was killed in a ten round contest with George Justice in New York. Miss Emma Spreckels, daughter of the sugar multi-millionaire, was secretly married to Thomas Watson, a grain broker, of San Francisco. The Omaha Savings bank has failed. Liabilities, $890,000; assets, over $1,000,000. White Hall, Mich., Savings bank failed. Citizens' National bank of Fargo, N. D., failed. It is practically decided that J. T. Lloyd of Shelbyville is to be the Democratic nominee for congress in the First Missouri district to succeed the late R. P. Giles. The six davs' international bicycle race was won by Waller, the "Flying Dutchman" by one and one-half laps ahead of Harry Maddox. Waller 874 miles, 5 laps. Maddox 874 miles, 3Β½ laps. The Illinois Steel company has given notice of a cut in wages, to go into effect on February 1, from the highest salaried employe down to the rawest recruit. The cut is to be from 10 to 50 per cent. The Bayview mills at Milwankee have received similar notice. A canvass of the members of the New York legislature shows that Tom Platt has a walk away for senator. Mr. Hanna has accepted an invitation to attend the dinner in honor of the event on January 26. The New York Tribune charges that the sugar trust has bought up the California legislature and will elect Samuel Shortridge, the counsel of John C. Spreckels, United States senator to succeed Perkins, who was thought to be sure of re-election. Henry Husted, cashier Union County National bank, Liberty, Ind., committed suicide by hanging. Ilis accounts all straight. Nellie Uren. 19 years of age, and Obbie Heath. 18, of Chicago, decided to commit suicide together because their parents opposed their marriage. The boy watched the girl kill herself by drinking carbolic acid, and then backed out at the last minute. On January 1. Missouri had a balance in the treasury of $577,463.05, with a bonded debt of $5,000,000, bearing interest at the rate of 3Β½ per cent. and all subject to call at the option of the state. Senator Wolcott of Colorado is going to Europe to confer with bimetallists on the subject of a monetary conference. The silver senators have unanimously decided to oppose all confirmations of appointments to office made in place of silver men who were removed because of their support of Bryan. A Cleveland justice court hasdecided that Chairman Hanna's son must pay his election bets. Burglars blew open the safe of the bank of Alma, Mo., with dynamite and stole $1,S00. Two Chinamen were murdered and robbed by unknown parties at Butte, Mont. William G. Park of Duluth committed suicide rather than stand prosecution for stealing $8,000 from the sugar trust. Thomas Kay of Mound City, Kan., got ten years for killing his wife and then burning the body. He is 79 years old. County Teasurer Jenrigan, of Austin, Texas, shot himself. He was $6,000 short. Two negroes are under arrest for causing the Cahaba River, Ala, railroad wreck. Eugene V. Debs has left the Populist party and is now a straight Socialist. The directors of the Dime Savings bank of Chicago saved the institution by paying in an assessment of fifty per cent. The Farmers' and Merchants' bank

15. January 8, 1897 The Yale Expositor Yale, MI
Article from The Yale Expositor, January 8, 1897

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NEWSY CONDENSATIONS. The complete offic al canvass of the vote at the recent election gives MeKinley 7,101,401 votes; Bryan 6,470,656. Fifty-four families were driven out of their homes during zero weather and at night by the burning of two large apartment houses on West Fifteenth street, New York City. Carnegie is to have strong opposition in the manufacture of armor plate in an immense new plant to be erected at Pittsburg by the Firth-Sterling Steel Co., composed of eastern and English capitalists. An impenetrable fog settled upon New York for a whole day preventing the operation of the ferries and causing an almost total suspension of traffic in the harbor, and on the streets the situation was not much better. Senator Wolcott, of Colorado, is taking a trip to Europe and it is asserted that he goes with President-elect McKinley's approval to confer with leading statesmen and diplomats upon the subject of an international bimetallic conference. A Washington dispatch says Li Hung Chang's visit to England and the United States has already borne fruit in a decision of the Chinese government to establish schools for the teaching of the English language and western sciences in all of the principal cities of the country. It is said that the intention eventually is to substitute English for Chinese. While Mrs. Daniel Myron, of Kalamazoo, was away from home, some one entered her house and completely demolished every piece of furniture, bedding, pictures, carpets, etc., doing damage to the amount of $700. The intruders cut in the wall with a knife in large letters, the word "Revenge." There is no clue to the hoodlums and Mrs. Myron has not an enemy so far as known. The prospects of the 1,000 people in burned-out town of Ontonagon are very blue. No manufactory seems inclined to locate there, notwithstanding it is one of the finest harbors on Lake Superior. Many of the burnedout families are still dependent upon the relief committee. The 12 business houses which have rebuilt are doing but little business, but the 13 saloons appear to be thriving. Secretary of State Gardner reports that there are 506,779 families in Michigan, and the average number of persons belonging to each is 4.42. There are 23,094 more families than dwellings. The numbers of families increased 118,031 from 1890 to 1896. There are 182,409 families in incorporated cities. The average number to a family there is 4.50; in the country, 4.38. There are an average of 4.63 persons in each dwelling in Michigan. The St. Joseph Valley railroad has had much trouble trying to fill up sink holes near Benton Harbor. Hundreds of carloads of dirt have quickly disappeared. Dozens of piles have been driven, one above the other. yet no bottom found. It is said that several piles, which were marked, were found floating in Lake Michigan soon afterwards, having evidently passed through a subterranean river. The recent heavy failures of the Illinois National and the Atlas National banks, at Chicago, have caused several other disasters. Otto Wasmansdorff, a well-known banker, grew despondent over his losses and suicided by shooting. The Dime Savings bank was reported to be heavily involved in the failures and experienced a very severe run. Wm. M. and J. S. Van Nortwick. of Batavia, 111., have been forced to make an assignment owing to their Josses.

16. January 9, 1897 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, January 9, 1897

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GOING OUT OF BUSINESS. Dime Savings Bank, of Chicago, Intends to Retire. CHICAGO, Jan. 8.-The Dime Savings bank with its 4,000 depositors, one of the oldest exclusive savings banks in Chicago, will go out of existence before the expiration of the ninety days' notice which has been required of depositors since the suspension of the National Bank of Illinois. Edwin Walker, the attorney representing the stockholders and directors, said today that only two things were absolutely certain about the Dime Savings bank. The first was that depositors would not lose a dollar in the institution; the second was that it would not be continued as it had been.

17. January 13, 1897 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 13, 1897

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Domestic. The long threatened split in Tammany Hall, New York City, came when Henry D. Purroy, with several district leaders, openly bolted the organization and announced that he would form a new Tammany. Isaac Zuker was sentenced to thirty-six years' imprisonment for arson by Judge Fursman, in the Criminal Branch of the Supreme Court, New York City. Burglars entered the branch office of the Metropolitan Insurance Company, in West Forty-second street, New York City, and after blowing open a big safe in front of an open window stole $1500 in cash and valuable jewelry. Mrs. James Abercrombie Burden, wife of a millionaire iron founder. was attacked on Fifth avenue, in New York City, in broad daylight, by a highwayman, who flourished a knife, threw her down and ran off with her pocketbook. He was captured by Policeman Young after a hot chase. The Columbia National and Washington Banks of Minneapolis. the Commercial National Bank of Roanoke, Va., and the Van Nortwick Bank at Batavia, III, closed. Fire destroyed the electric light plant in Newark, N.J., and the city and'several nearby towns were left in darkness for a right. Isnac Zuker was convicted of arson in the first degree in having planned the burning of his building in New York City in January, 1892. The Atlas National Bank, of Chicago, Ill., began liquidating its affairs, and the Dime Savings Bank, of the same city, required depositors to give ninety days' notice of withdrawals. Three masked men, armed with revolvers, entered the saloon of Mrs. Mary Bernhardt, In Chicago, at 11 o'clock p. m., and robbed the place of $450. Mrs. Bernhardt was bebind the bar when the men came in, and two patrons of the place were sitting at a table playing dominoes. Two men were killed and another was fatally shot in a general fight six miles north of Mount Vernon. Ky. The dead are A. Rowland and Jack Rigsby. The wounded man is Greeley Lear. The fight began at a merrymaking. and was fought out on the highway in Kentucky feudal fashion between opposing factions. At Superior, Wis.. anticipating a run, the Bank of Superior did not open for business. Henry S. Butler is assignee. and has assumed charge of the bank's affairs. The failure is due to poor business and heavy withdrawals since recent failures in St. Paul and Chicago. The capital of the bank was $25,000, with a surplus of $6000. The deposits were nearly $100,000, including $13,210 of city funds. More than $1,500.000 was voted to hospitals, asylums and other charitable institutions for 1897 by the Board of Estimate, of New York City. The Lehigh Mills, in South Easton, Penn., manufacturers of cotton goods, have shut down for four months. and there is said to be but little prospect of a resumption at the end of that period. Depression in business is given as the cause of the shut-down, and one hundred employes are affected. The plant was started nearly one hundred years ago, and this is the first shut-down it has experienced. City Treasurer Turner. of Boston. Mass., opened bids for $1,890,000 3Β½ per cent. and four per cent. ten, twenty, and thirty year loans. The contract was awarded to Blake Brothers and R. L. Day. whose bid was $1,944,286 for the entire loan. The Scandia Bank, of Minneapolis, Minn., closed its doors. It was organized fifteen years ago by M. Grinager, a prominent Scandinavian politician. who died in 1893. Its President is R. Sunde, who came to Minneapolis ten years ago from Wilmar. Minn., where he had made a fortune as a money lender. Thomas J. O'Malley, a Chicago Alderman, has been indicted for the murder of "Gus" Colliander, in an election booth in 1894. A mail train from the West was robbed at one of the New York City stations and a large sum of money taken from letters addressed to New York firms. The letters, without in. closures, were found in the lower bay. Mrs. Agnes Antoinette Halpin, wife of ex. Assemblyman William Halpin, died in New York City of nervous exhaustion, collapse and gastritis, caused by the excessive use of Jamaica ginger. This habit is said to be prevalent in many places. The West End Street Railway Company of Boston, on which a strike occurred recently, discharged 700 union men, including the members of the Conference Committee and officers of the union. The Board of Directors of the Security Mortgage and Trust Company, Dallas, Texas, made application for the appointment of a receiver. The liabilitieso the company are, approximately, $2,000,000. Georgia's alleged titled convict, "Lord Beresford, as Sidney Lascelles called himself, was madea freeman by act of Governor Atkinson, who took pity upon him and pardoned him for his model conduct while in prison. The Atlas National Bank, Chicago, decided not to open its doors again, and the Clearing House will advance $600,000 tc help it pay all claims on demand. The bank has a capital of $700,000. W. C. D. Grannis is President. Thesecurities were examined and found to be ample to pay all claims in full.

18. January 29, 1897 Kansas Agitator Garnett, Greeley, Topeka, KS
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Goldbug Good Times. D. J. Bear, of Richmond, Va., jeweler, failed here Monday for $15,000. The Security, Mortgage and Trust Company of Dallas, Tex., has failed. Phelps & Co., grain brokers of Salt Lake City, have failed with liabilities of $10,000. The McCoy Banking Company of Independence, Mo., has gone into voluntary liquidation. The Bank of West Superior, Wisconsin, capital $50,000 and $50,000 surplus, has suspended operations. The Columbus and Hocking Valley Coal and Iron Company has passed into the hands of a receiver. The Scandia Bank, of Minneapolis, Minn., with a capital of $60,000, has suspended payments. The Laconia Car company of Laconia, N. H., has been petitioned into an involuntary insolvency. Chicago's charity ball is likely to be postponed on account of the financial and business troubles there. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, Iowa, have failed. White & Howe company of Sioux City, Iowa, shoe dealers, have assigned Creditors are mostly eastern shoe firms. The American Banking and Trust company of Auburn, Me., has closed its doors and made application for a receiver. The Excelsior Machine and Boiler Works company of Chicago failed Monday. Assets and liabilities each about $40,000. Dallas Wightman, a cloak manufacturer of Rochester, N. Y., has assigned. Assets between $20,000 and $25,000; liabilities $15,000. Solomon Sales of New York, wholegale and retail dealer in meats and provisions, has assigned to Charles A. Hess without preferences. The Calumet State Bank at Blue Island, III., has failed. A statement was filed, showing that the assets are $87,069 and the liabilities $68,000. J. J. Wright & Stokes of Richmond, Va., manufacturers of harness, have assigned for $18,000. Mr. Stokes made a personal assignment for $16,000. The large retail dry goods store of M. Frank & Co. of Fort Wayne, Ind., was placed in the hands of Benjamin Rothschild as receiver Monday. One hundred and fifty men employed by the Georgetown Boot and Shoe company are on strike in Haverhill, Mass., against a reduction of wages. The Dime Savings bank of Chicago, has suspended payments under the ninety day withdrawal notice clause, granted in the statutes to savings banks.

19. January 30, 1897 El Paso Daily Herald El Paso, TX
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A Receiver Appointed. CHICAGO, January 30.-Judge Freeman today appointed Ralph Metcalf receiver for the Dime Savings bank, requiring him to give bond for $200,000. There was no opposition on the part of the directors who consented to the apThe court proceedings pointment. came as & big surprise and have given rise to the rumor that the affairs of the bank were in a deplorable condition. The directors, however, assert all the 4,000 depositors will be paid in full. There is due depositors $365,000 and only $125,000 in cash on hand. It is asserted that there are other assetts consisting of securities and real estate.

20. January 31, 1897 The Houston Daily Post Houston, TX
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Dime Savings Bank. Chicago, January 30.-Judge Freeman today appointed Ralph Metcalf receiver for the Dime Savings Bank. The bank, since the failure of the Atlas National Bank last month. at which time it was compelled to enforce the ninety day withdrawal clause, has been practically out of business and the receiver is authorized by the court to close up its affairs. The institution has about 4000 depositors, to whom about $360,600 is due. It is stated that the indebtedness of the bank, outside of the depositors. does not exceed $1000, and that $135.000 is on hand for immediate distribution. It in expected that all depositors will be paid in full in time.

21. February 5, 1897 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 5, 1897

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A BANK IS IN DANGER. Depositors In the Burst Dime Savings Bank, Chicago, Worked Up to a High State of Anger. TO HOLD A MEETING Next Sunday to Denounce the Owners of the Bank. Depositors Were Mainly People of Small Means. Chicago, Feb. 5.-One thousand depositors in the lamented Dime Savings bank will gather in mass meeting on Sunday, exchange indignant views regarding the directors of the shattered institution and take definite action. This meeting was called at a preliminary conference last night at the Sherman house, during which the directors were denounced as scoundrels, theives and liars. Fifty persons who had never met one another before constituted last night's meeting and arranged for the larger one. When they reached the clubroom at the Sherman house they sat around for an hour to order. Every one wanted to do something, waiting for somebody to call the meeting, to get his money back, but did not know how. At last a lawyer present, who said he was not a depositor started the ball. Before the meeting adjourned this backward gathering was applauding the denuciatory speeches with all vigor. "It is enough to make Anarchists of poor people,' James R. Conrad, No. 673 East Sixty-third street, exclaimed. and the depositors cheered. We must do up a few of these rascals and show the whole country that the poor people cannot be robbed in this way while the big 'stiffs' who do it strut around town." Every few minutes. some one wanted to institute criminal proceedings against the directors, but the lawyers present, who came to represent clients, they said, were strongly opposed to such a course, as it was a sure means of losing what there was left in the bank. The failure of the criminal proceedings in the Kean crash in 1890, in the Schaffner failure of 1893, and the pardoning of the Meadowcrofts after depositors had spent over $5,000 in securing their conviction, were urged as examples of what might be expected. Others wanted Receiver Metcalf removed. but again the lawyers pointed out that such an attempt would be wasting money, and that it did not make much difference, as the receiver was under bonds. One depositor asked if he lost any of his legal rights if he took the 30 per cent dividend. He was told to get what he could when he could, for the bank might never pay another cent. The saving of deposits since December 21. when the ninety-day notice was posted, was denounced as a scheme to head off criminal proceedings after the failure for receiving deposits within thirty days after insolvency. To get the interests of the 4,000 depositors in the failed bank into better shape, a committee was appointed to see the receiver and the directors and to report at a meeting to be held in Aldine hall, No. 77 Randolph street, on next Sunday afternoon at 2:30 o'clock. The following were named as this committee: J. M. Etlinger, George B. Smith, H. M. Seliman, J. G. Harris and L. P. Biller. For chairman of the meeting J. G. Harris was selected. The Dime Savings bank began paying a 30 per cent dividend to depositors yesterday. When the bank doors were opened in the morning a crowd of anxious men, women and boys gathered at the steps. There was a rush and crush in the effort to get into the lobby, and the jam at the door continued all day. Two policemen stood inside with positive instructions to let in only a few people at a time. When 3 o'clock came the doors were promptly barred. Some women who had stood on the cold, wet stones since morning were turned away without having received the meager portion of their savings which had been promised them. The process of giving out the cash was SO slow that comparatively few depositors were able to take advantage of the order of the court instructing the payment. Many feeble women were compelled to leave in order to avoid the crush of the crowd that surged around the door. The gathering of depositors presented a picture which emphasized the fact that the shutting down of the bank was a terrrible hardship to thousands. Scarcely a well-dressed man or woman appeared in a score of depositors. Calloused hands hoarded the little savings which were locked away from them in the iron vaults of the bank. Some of the creditors of the institution were compelled to walk down town yesterday morning from Lake View, from Woodlawn and from distances far on the west side because they had not money enough to pay car fare. Working women who shivered and waited in the crowd outside the bank door for hours told stories of painful deprivations caused by the result of "impairment of the bank's capital. Rents were foreclosed, insurance payments were lapsing, credit had been exhausted at the grocer's and baker's and at the coal dealer's. Medical bills had taken away what other money they had, and in some cases needed medical attention was denied by reason of previous overconfidence in the Dime Savings bank.

22. February 6, 1897 The Universalist Chicago, Cincinnati, IL
Article from The Universalist, February 6, 1897

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A RECEIVER was appointed Saturday on the Dime Savings Bank of Chicago the Directors consenting to the order. The deposits and other liabilities amount to $365,000, and the cash in hand $125,000. It is claimed by the bank officials that the depositors will be paid in full.

23. March 5, 1897 Kansas Agitator Garnett, Greeley, Topeka, KS
Article from Kansas Agitator, March 5, 1897

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Goldbug Good Times. The First National Bank of Olympia, Wash., has suspended. A. C. Baily, dry goods merchant of Pictou, N. S., has assigned. The American Paper Box company has assigned at Nashville, Tenn. W. G. Harrington & Co., jewelers, of Columbus, Chio, have assigned. A receiver has been appointed for the Home Book company of New York city. M. Rosenwald, dealer in tailors' trimmings, at Boston, Mass., has gone into insolvency. Wyman J. May, grocer, at Hartford, Conn., has offered to compromise at 40 cents on the dollar. The High Falls Sulphite Pulp and Mining company of Pyrites, N. Y., has made an assignment. A receiver was appointed Thursday for the Covenant Building and Loan association of Knoxville, Tenn. William T. Beidler & Co., wholesale dealers in dry goods at Baltimore, Md., have had a receiver appointed. A receiver was appointed at Knoxville, Tenn., Friday, for the Citizens' Building and Loan association. Execution has been issued against the Hughes & Megahan Shoe company of Williamsport, Pa., for $6,000. Alfred Shrimpton & Sons, manufacturers of needles, pins, hooks and eyes, has assigned, at New York. Judge J. M. Sanducky has been appointed receiver for the Farmers' and Merchants' bank, at Excelsior Spring, Mo. The Indiana Machine Works, at Fort Wayne, Ind., has been placed in the hands of Frederick Glusenkemp, a trustee. A receiver was appointed in Chicago on Saturday for the Dime Savings bank, the directors consenting to the order. Perkins & Perkins, sportsmen's goods, and the Des Moines Fuel and Lime company of Des Moines, Iowa, have failed. Manley B. Ramos, doing business as Manley B. Ramos & Co., dealers in pianos at Richmond, Va., has made an assignment. The Duhme company, extensive jewelers of Cincinnati, Ohio, has obtained an extension of two years from its creditors. On judgments for $15,000 the sheriff closed Wright Brothers' dry goods store and A. M. Wright's clothing store at Clearfield, Pa. The grocery house of Turnbach & McGuire, at Wilkesbarre, Pa., was closed by the sheriff on an execution issued by Sturdevant, Fogel & Co. A receiver has been asked for at Jeffersonville, Ind., by the Pittsburg Forge and Iron Co., and others for the M. A. Sweeney company, of that city.

24. June 23, 1897 The Representative Saint Paul, Minneapolis, MN
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FROM OUR EXCHANGES. A final word to you, comrade: Stand to your colors. Be a Populist as you have bravely been since the terrible days of 1891. Dont drag your creed into the mire. Don't become a Republican to spite the Democrats. You'll hurt nobody but yourself by such a mistake. You are no Republican. You oppose their principles and their class laws. You know that the Republican party . legislates for the money power of the East and North against the people of the West and South. If the People's party must die (which God forbid), what would you look like in the Republican party? What does it advocate that you approve? When has it been the friend of the South? What can you hope that it will do for the masses? Let us recognize Populism and meet the enemy once more! Don't give up the ship. The stars in their courses henor the brave, and nowhere under the sun is the time-server respected. On the platform of our convention at St. Louis sat men representing the greatest fortunes of this nation: The Sharon estate, the Hearst estate, the Huntingtons and all the Pacific California millionaires. We were not without our bonanza. The leaders of the Democratic party were there doing their secret work. The honest rank and file of the Democracy must be educated. They must be shown that no reform will ever come from the Democratic party. It has betrayed every promise. No old party ever achieved a real reform. The masses of all parties are honest. We must seek their votos, and we cannot get them by lauding the virtues of a political hariot like their party. The Republican party will not give relief. It cannot unless it accepts our policy. It dare not do that. The appointment of Gage and Sherman throws down the glove to every true patrio: They will fail. We must ally all forces and whip the Democrats in the South, and separate them from the West. Run straight tickets everywhere. No fusion. A straight fight. "He who dallies is a dastard." The battle is on and the separation of the sheep from the goats should commence.-Paul Van Dervoort. --Sentincl. That one Populist principle is beginring to impress itself on Republican minds is shown by the following from the Abilene Reflector (Rep.): "Priful tales of suffering entailed among the Chicago poor is shown by the failure of the Dime Savings bank. Thousands of needy ones had their entire savings in it and can get nothing out. One of these days Uncle Sam will develop sense enough to establish postal savings banks, operated in connection with the postoffices, and making an absolutely safe depository for the saving of the poor. Why it has been delayed so long, in view of the history of broken banks, is by no means clear."