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Hanging on to your dollars is as futile as an elephant hanging over the grand canyon with its tail tied to a daisy.-Maryland Catapult.
We had grown to take the First National bank and the men who made up its personnel for granted, quite unmindful of the disorder that would ensue were it to suddenly cease functioning. Quite without warning, and I write those words with emphasis, we were brought face to face with this very situation this past week. The loss to our community, not measured in dollars and cents, is well nigh irreparable. But the reaction to the announcement that the institution had closed its doors has reaffirmed an hundred fold the confidence and faith which the substantial citizens of the town and country side had in the bank and its staff of officials.
With empty pockets I stand today with those others of our business men who stood by the bank. The other folks, those who "tipped off their friends" to withdraw their money and in that way brought about the bank's failure, did not approach me. I think I know why. I'm glad they did not. And I could have used those few hundreds I had on deposit very nicely in carrying on my business. But I'd rather be with those who lost, with honor, than with those who are hoarding their money in a hidden sock, or some other place.
One wonders if those who took their money out of the bank realize fully what they have done. Some of them had only a hundred dollars, others had from six to eight hundred. But combined, they closed the bank. They have their money, but they have paralyzed the business of the town and country and have wrought havoe and humiliation on every hand. There is bound to be another reaction and I'm predicting, here and now, that those same people are going to come in for a mighty small portion of patronage when the time comes that we shall recover from this temporary condition. And we shall recover!
We are being urged every day to publish the names of the persons who combined to make the "run" on the bank. I doubt if such a list would be available to anyone but I believe most people know the names of those who started the "run" and also the names of the "friends" who followed next, etc. I'll venture they have spent more sleepless nights since they withdrew their money than they did in the years it reposed safely in the vaults of the First National bank. Retribution comes sometimes in sudden and unexpectel ways-but it does come, you can depend on that.
That the malicious tongue of gossip is sufficiently powerful to underminan entire community has been proven in the events of the past week. The under currents, always, are those to be.most feared. There is no greater virtue than honesty, but even honesty may find itself overpowered, for the time being, by the poison of under handed gossip.
Thomas Mortimer may not be the president of the First National bank today, but, as always, he is the "grand old man" of the Leigh community. Heading the bank for nearly half a century, 46 years to be exact, he had helped many in this territory over rough places on the road. Inclined, at all times, to be conservative, his advice, more often than not, kept many a man from taking disastrous risks. I've never known of an instance in which anyone regretted having followed Mr. Mortimer's suggestions. Community builder and benefactor he has enshrined himself in the hearts of men, women and chilalike, and in this dark hour they reassert their faith in him.
The way the folks over at Mount Carmel, III., handled the situation is attracting a good deal of attention. Panicky ones started a "run" on the National bank and the officers at once announced that if the "run" were continued they would be obliged to close the bank. Forthwith, the mayor of the town declared a 10-day moratorium on business of every kind including the bank. In the meantime substantial citizens canvassed the territory and pleaded with depositors to leave their money in the bank. This they promised to do and accordingly, on Monday, all business houses, and the bank, were reopened. A spirit of confidence prevailed and things are going ahead as usual.
Coming nearer home, the folks at Howells sensed the seriousness of conditions generally and were one step ahead in taking care of things. They called a mass meeting of depositors on Saturday eve and nearly one thousand people from a radius of 15 miles attended. Officers of both banks, J. M. and L. F. Folda, of the Colfax County bank, and L. R. Coufal and J. A. Novak, of the Howells State, made short talks. State Senator Emil Brodecky and Rev. J. Drbal, pastor of St. John's Catholic church, pleaded for confidence and loyalty to the two banks. Good will was in evidence on every hand. The Commercial club served refreshments to the crowd which was the largest that has ever attended one of its meetings. If we could only live over again the happenings of the past month here at Leigh.
An unavoidable accident in this office while we were running last week's issue of The Leigh World caused a portion of our regular heading to be broken off. Hence we were forced to utilize a heading which had been used on the paper some years ago. The incident was trivial and we had no. thought it needed an explanation. But as readers of the paper have repeatedly called our attention to the change asking the reason why, and some, living at a distance, have gone to the trouble of writing us letters asking that we go back to the usual head, we feel that the foregoing explanation is in order. Repair of our regular heading cost us just $4.85. But we have it on hand again and you will find, our front page looking up in its more familiar dress.
