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Chicago, Ill., Aug. 6.-The Milwaukee Avenue State bank was closed today by Theodore Stenslin, a son of the president, while a run was in progress, and the depositors growing clamorous. Twenty policemen were called to restrain them. The bank capital is $250,000, with deposits of about $4,000,000.
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MILWAUKEE AVENUE STATE BANK OF CHICAGO CLOSES ITS DOORS IN THE FACE OF FRENZIED RUN. Run Started by Reports That One or More Officials of Bank Are Alleged to Be Short in Accounts-Examiner Takes Charge Because He Could Not Find Executive Officer of Institution in the City.
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Bank Closes Doors. Chicago, Aug 6.-The - Milwaukee Avenue State bank. one of the largest outside of the downtown districts, to-day closed its doors, following a run oz the Institution. Henry W. Hering. cashier of the bank. is misslag and a warrant charging him with contentionment has been swora out.
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RUN ON BANK IN WINDY CITY TO QUIET THE CROWD THE BANK WAS CLOSED, AND THE POLICE CALLED.-CASHIER GONE. Special to the Herald. Chicago, Ill., Aug. 6.-The Milwaukee Avenue State Bank was closed today by Theodore Stensland, son of the president of the institution, while a run was in progress and the crowd was clamorous. Twenty policemen were called in to restrain the crowd. The bank has a capital of a quarter of a million, and deposits amounting to about four millions. The.run was started by rumors to the effect that the cashier had disappeared. Officers of the bank refuse to state how much money is missing. The depositors were told that the bank will be re-opened when the exact status of its finances is determined.
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CHICAGO BANK SUSPENDS The Milwaukee Avenue State Bank Closes Its Doors After a Short Run. HAD DEPOSITS OF OVER $3,000,000 Depositors Threatened a Blot for a Time But Were Finally Qufeted by the Police -Henry W. Herring. Cashier, is Missing and a Warrant Has Been Issued Charging Embezzlement.
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BANK SHORT $1,000,000, TWO OFFICERS MISSING Chicago Depositors in Panic--One Death, One Suicide. WARRANT FOR THE CASHIER Whereabouts of President Paul O. Stensland and Cashier Hering, of Milwaukee Avenue State Bank, Unknown to Authorities.
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WITHOUT BAIL Cashier of Defunct Bank Is Held In Chicago, Chicago, 111., August 10.- - Henry W. Hering, cashier of the suspended Milwaukee Avenue State bank, was arrested today and will be refused bail until his connection with the disappearance of nearly $1,000,000 of the bank' funds is cleared up. President Stensland is still a fugitive
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Directors Stand by Fetzer. CHICAGO, Aug. 15.-The directors of the Milwaukee Avenue State bank today repudiated the Chicago Title and Trust conpany as receiver. The directors were unanimously in favor of supporting Receiver Fetaer.
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Another Chicago Bank Fails. Chicago, Aug. 17.-The Garfield Park bank, an institution on West Madison street, was placed in the hands of a receiver late Thursday afternoon by Judge Bethea in the United States district court. Three creditors filed the petition and also asked that Ellis E. Drake, president of the bank, be declared insolvent. The collapse of the Mllwaukee Avenue State bank is said to have caused the closing of the smaller institution. No statement of assets or liabilities were presented in court.
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Another Bank Fails. Chicago, III., August 17.- The Garfield Park bank, a small institution located at 2024 West Madison street, was placed in the hands of a receiver. The collapse of the Milwaukee Avenue State bank is said to have caused the doors of the smaller institution to be closed.
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Ask Another Receiver. Chicago, Aug. 18.-The Polish national alliance of the United States of North America Friday filed a bill in the superior court asking that another receiver for the Milwaukee Avenue State bank be appointed.
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Another Chicago Bank Closed. Chicago, Aug. 18.-The Garfield Park bank, an institution on West Madison street was placed in the hands of a receiver late Thursday afternoon by Judge Bethea in the United States district court. The collapse of the Milwaukee Avenue State bank is said to have caused the closing of the smaller institution,
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Ask Another Receiver. Chicago, Aug. 18.-The Polish national alliance of the United States of North America Friday filed a bill in the superior court asking that another receiver for the Milwaukee Avenue State bank be appointed.
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Another Chicago Bank Closed. Chicago, Aug. 18.-The Garfield Park bank, an institution on West Madison street was placed in the hands of a receiver late Thursday afternoon by Judge Bethea in the United States district court. The collapse of the Milwaukee Avenue State bank is said to have caused the closing of the smaller institution.
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Receiver For Chicago Bank Chicago, Aug. 17.-The Garfield Park bank, a small institution, has been placed in the hands of a receiver by Judge Bethea. The collapse of the Milwaukee Avenue state bank is said to be responsible for the failure.
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DIVIDEND ANNOUNCED. Depositors of Milwaukee Avenue Bank to Receive Twenty Per Cent. Chicago, Aug. 24.-The receiver of the defunct Milwaukee Avenue State Bank sent out notices to five thousand depositors yesterday to call at the bank and receive twenty per cent dividend on their deposits. It was the original intention to send out the notice to 22,000 depositors simultaneously, but on account of the difficulty in handling such a crowd, the receiver decided to send out only five thousand notices per day. Five hundred thousand dollars in currency and coin was taken to the bank yesterday in preparation for today's work. One hundred policement in uniform and about fifty men in plain clothes will be at the bank this morning in anticipation of the opening of the doors at nine o'clock.
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RUSH FOR CASH. Sixty Policemen Could Not Stay the Frenzied Men and Women. Chicago, Aug. 24.-Sixty policement were overwhelmed Friday by the mad rush of men and women who were determined to get the first money paid out of the vaults of the ruined Milwaukee Avenue State bank. Receiver Fetzer had made arrangements to pay 20 per cent i
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PAYING DEPOSITORS. Looted Milwaukee Avenue State Bank Opens Doors. Chicago, August 25.- Receiver Fetzer began the payment of the first dividend to the depositors or the Milwaukee Avenue state bank this morning. This is the earliest payment ever attempted in the case of a defunct bank and the preparations for the big crowd kept the employes of the received at work hours after the time for closing last night.
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Not content with having Stensland rob the Milwaukee Avenue State bank of Chicago the courts have appointed three receivers. The depositors are between the nether stone.
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Depositors in the wrecked Milwaukee Avenue State Bank, Chicago, now are likely to get 75 per cent of their money through John C. Fetzer, receiver.