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PRIVATE BANK IN WENONA CLOSES Marshall County Institution With Deposits of $100,000 Suspends Business. CLAIMS TO BE SOLVENT Third Concern In Locality to Find It. self in Difficulties Since First of Year. Lacon, III., March 21.-The Wenona bank, a private institution located at Wenona, in Marshall county, failed to open its doors yesterday morning. On the door was posted the notice "Bank closed." The announcement was made to depositors that a statement would not be given until today. The officers of the bank are Jerome Howe, president; W. V. Howe, vice president; and R. B. Work, cashier. The institution was established in 1890. Estimates place the deposits at $180,000. The liabilities, it is reported, may reach $300,000. The assets are said to be sufficient to cover all indebtedness. The Howe brothers always have been rated as wealthy men. Jerome Howe is said to own 1,000 acres of land in Wenona, Marshall, La Salle and McLean counties, and also heavy holdings of land in Indiana. The Howe brothers are heavy investors in southern lands, upon which they claim to be unable to realize at this time. Steady withdrawal of deposits in the last few weeks has forced them to the wall, they contend. While they claim to be solvent, it will be a day or so before the condition of affairs will be known. This is the second private bank in Marshall county to close its doors since the first of the year and the third in this vicinity. The other failures in this county were at Larose and Tonica, a short distance from Wenona. Bankruptcy Petition Filed. Peoria, III., March 21.-Late yesterday an involuntary bankruptcy petition was filed in the federal court here for the Howe bank. The creditors will apply for a receiver today. Four creditors, representing an indebtedness of $1,200, started the proceedings. The men were Daniel Craig, Ralph B. Work, and Thomas Melody and Albert Milset, operating as a partnership, all depositors. Jerome Howe admitted the insolvency of his institution here, but would not discuss the failure further.
