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FAILE WHY CROSS Story of the Fall of an Historic Kansas Bank. DEPOSITORS HARD LUCK They Trusted Him in Face of Mountains of Evidence. failure Emporia, Kan. Nov. the 18.-The first in the histhe Cross bank was The people of the town with tory of Emporia touched elbows and have never before It is etrange like catastrophe The confidence them. west of of overpowering lifetime in to the oldest bank is Lawrence broken of the bank there failure a In the politics history which makes the vain of interest more than of local in the sixties the the From away started back this bank In early Crosses seventies had tional Senator bank Plumb and who took the Emporia Calvin Na Hood, Emporia man for who with come him from Michigan found to it here. Hood with the health brought and $3,000 with him cattle and business Plumb. and the went went into into the bank richest with men later now one of the of Plumb's Hood is The establishment two political Kansas. beginning of the city and banking bank was the factions of this in the Greenwood was time, county town of Madison, William at this Martind and the bank owned He gleman named of Madison. Martindale became and he for the little at bank openin was an accumulator town of Madison Eureka, He branched county out, seat of wood politician political the Martindale was influence natural in his county the senhad great candidate for in Em Plumb was then political influ looked poria had great and Cross with envy. ate: and this county Cross was not be would politician upon him and he have thought politician it in his in opposition splendid offset thing the influence of Plumb early bank to bank, so the Green and in county went Martindale the came up with from Cross in the here. of 1874 bank meantime the great in Kansas panic were passed, the when all banks and many sus pended shaken eltogether. their foundatio The banks the only of Plumb ones that and Cross in Emporia did not were take advantage given of in the Kansas permissi of to the suspend comptroller payment for all banks then two banks thirty days. These the storm. This west open and financial eathered standing in the hunthem high deposit centers of dreds They became of small the banks throughout After the Kansas panic because of their solidity easy money in Kangood times and the race tween came there began again business and eas and these two banks for Cross political Martindale supremacy came political into the control bank After the schemed to Plumb, get who was fully away from Senator retain his suprem contro- The eager to took sides in the bank and county . Cross versy. town One faction deposits clung and political sup Another When with its money faction clung in Plumb the same port. way to Plumb's bank. the acquaintance and his elected to that the senate brought him gave the Ininfluence much of the business from he got the over bank dian territory and Texas Cross' and bank Times free days almost financial were good edge money was plantiful anyone could and go borrow and in those banks here and semoney to one with of the only personal note as flowing curity. free Into was this realed atmosphere the richest boy of Charles money banker S. Cross in the western country the only son of the He was reared knee of first twenty were spent On deep in money. The with no idea of other his life value of money. and need or Martindale had been poor saving So earned hand, this money Cross by money died in 1892 and place, when the the elder son, was put in his was vice Charles, and Martindale no money as president, president there was Charles and with Martindale of the value of turned dizzy because with his wealth head he was getting and ever money rolling the great in easier than he had dreamed of on bank ran Under these conditions the after the death elder Cross. with the valve wide open, After the boom had under boom schedule, of subsided the the Cross instead bank of easing up. in liver Emporia. Young Cross was The the other men they other bank were wiser slow. Hood stayed ton each careful, conservative the brakes bank and and went Plumb stayed in and Washing watch. was Hood hardest ing all corners. He town. working man morning in at half past until deak every there, and he piece the o'olock first man at night, handling The every result has 20 of paper that came in. Hood bank has paid per cent been that the Plumb cash dividend for the last on eight years. Hood bank stock is worth the bank $2.50 of The dollar today. While the Cross bank going down. Plumb the & Hood was going This up was first two visible sharp-seeing the shortage in its about cash years ago by banks had the Each of these dollars rival but half Cross million bank had about $100,000 Two years ago began Plumb's the Cross bank bank began of the while the quarterly cent of up. Cross In bank last May the pet per on hand ran down cent of the failing point lane within 3/2 the bank had half million $76,000 that is: deposits in and had only cash on band the state throughout The saw bankers this said among open? they earth can they keep "How on each bank and disof plus the fund of $100,000. each The bank loans counts account of the the same on the face about half interest but Cross' bank had and the dollars out at showed $300 statement interest was and stounding This showed the Cross bank The showed that interest quarter in Cross Mar carefully made. but running
