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I t I 1 l 1 M
E ' I 1 Tr M 1
Ay
f? VOLUME fTL
LA GRA NDE, UNION COUNTY, OREGON, ' MONDAY, OCTOBER 12, 1908,
.'.number S20.
jFARflEKS ANO X R AOER mir rhnM pimp
Mill H III I 111 II Mm I I I L L U I I I I I U
ruiuHLnn wm u Lrnui ludo
Of THE BARK EXAMIHER TO
take mm
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II. K. 1ST IIOTE
T H
FEEUE OF UNREST
mil mam tut mi nu in toiui n
, MUtt 111 KCMITS II STRAIGHTENED
AN OFFICIAL STATEMENT IS EXPECTED FROM CATCH
X
:
X
i
X
J. W. SCRIBER'S PERSONAL STATEMENT.
"There is money enough in ihe lank to pay all depositors
and my creditors," affirmed' J. W. Scribcr, cashier pf the Far-,
iners & Traders National IJaiik, to a representative of The OlA-.
kerrer today, when asked to e'rpress hmclf .oajlieTilk matter."
Reclining on his bod, a nervous wreck, Mr. ScriUr is unahlo to
1x5 interviewed at length today, but briefly anil laboriously did
he reiterate that depositors will be paid in full.
"What statement do you v:ish to male relative fo the X. K.
Yest note f" was asked.
"None," was the reply.
"When the examiner arrives he will male his own state
ment, and at that time all things will be cleared up, The hank
is solvent, but I will turn in my private properly to reimburse
the depositors, should the bank funds be insufficient to cover.
I am sure there will be enough funds to pay all creditors, both
of the bank and my own personal ones."
Tho Farmers & Traders National flank is closed today,
pending the arrival of State Bank Examiner Gatch. It is
closed today, but not on account of local orgenoral financial de
pression. Everywhere today the theory is entertained that de
positors will 1)0 paid dollor for dollar losing but a small per
cent at tho worst. On the street, where anything, nothing and
everything is heard, the statements are conflicting, but all lead
ing to one common point, that it is not a financial flurry that
is responsible for the discrepancy, but a series of transactions
by the helm of the institution that have a color of fraud. Much
is intimated, but as yet nothing can be stated with any degree
of authenticity. It is a fact, however, that a certain, N. K.
West note deal precipitated tho crash by virtue of having plant
ed a spirit of unrest among the depositors. Mr. West today
neither denied nor corroborated the story.
From the last sworn statement issued by Mr. Scribcr as
cashier, it is learned that the institution is not in seriously cm
barrasing circumstances. Tho only matter of doubt is the worth
of tho loans and securities. With these two items genuine,
which they undoubtedly are, the debitors will be paid in full
in time, and that not far hence. Tho last statement issued is
published herewith, and the public at large can glean from it
sufficient proof to k-licvc that tho bank is solvent, as Mr.
ScrhVr affirms. The other banks of the city and county have
never leen in letter condition than they are today. This itself
is prima facie evidence that tho financial market is not general
ly weak, but that there is some other factor figuring conspicu
ously in this action pf the Framcrs & Traders National Rank
today. Ono of theso factors is undoubtedly tho Sumptcr bank
failure several years ago, at which time the local institution
was given a severe jolt, from which, it is alleged, it never fully
recouped.
Street talk, backed by careful investigation of facts and
incidents that havo occurred during tho past few days, carry
out the belief bo common only entertained that accounts have
been, juggled. To state at this time that such is positively a
fact, ig folly, but to all appearances such' may in some degree
or other prove itself to be tho caso when tho bank examiner
reaches here.
t Bank Examiner Gatch has been notified and he will likely
arrivo tomorrow morning. As soon as ho hai inspected the
look, he will make a statement of liabilities and assets, and if
Tho Observer is not in the wrong, that statement will bring joy
to tho depositors, who, collectirely, have approximately $190,
00 in the bank's name.
SCUIBER'S FORTUNE AVAILABLE.
Based on Mr. Scribcr's assertion, the extensive personal
property owned by him," will be thrown to. the 'disposal of the!
depositors and this will almost insure dollap for dollar pay
jnents. This act has won favor with the depositors at large, as !
it. will assist in reimbursing those whom ho; is said to have
wronged. , Scriber. owns the large building on Adams avenue,
which is occupied by the Foster-Lilly Hardware company and
several other office and business places. , Aside from this prop
erty he has real estate and personal property which will run up
to a large figure'. '' ' f
DISTRUST PRECIPITATES UPHEAVAL.
wyn tv, vw-sCT?ber tiizh bozzzz publ;c knovlod J
rush on the "bank became inevitable. The depositors were
alarmed, and though they were unable to -withdraw accounts
Saturday night, they nursed their fears until this morning.
Long before banking hours, the crowd gathered at the bank.
The instant the doors were to open, the men planned to with
draw their savings. , r. 'i ., '
A run was averted by reason of the fact that the doors did
not operu '
; THE BOTTOM OF IT ALL. ;
The story of an alleged forgery coming to public notice
Saturday afternoon and evening is directly to blame for the
doors being closed today. The story of tho incident briefly told,
is that a supposed note against N. K, West bad become due at
the Elgin bank, and that the officials had inquired of West as
to the dispensation to make of it. Friday morning Mr. West
received a letter from the Elgin bank, inquiring about a $2,000
note that was due, having reached the bank there as collateral,
cm a loan made by the Farmers & Traders National bank. Mr.
West was positive he had not signed such a note, and brought
the letter to .the attention of Mr. Scriber.; The latter stated it
was a mistake. West followed up a mental clue and telephoned
to the officials of the Elgin institution, (After ascertaining
that such a note was really there he gave instructions over tho
'phono to hold it until his arrival. Securing, an automobile,, tho
J. II. Oliver machine, he set out for Elgin. Mr. Scriber was of
the same inclination and soon both were rushing to Elgin as fast
as gasolino power could take them. The Oliver-West crowd
met with a slight accident en route, whjch delayed matters con
siderably. When Mr. West reached the Elgin bank and asked
'he cashier for the note, he was inlormed tho note was not then;.
Mr. West asked what had become of it, and was told that
the note had been taken up. -The incident became generally
known Saturday, and its publicity is responsible for the failure
of the bank to open its doors today.
OTHER BANKS ATTEMPT TO "TAKE OVER."
It is stated that the other banks of the city offered to ad
vance the money required to float the Farmers & Traders insti
tution over ihe tide, but in doing so requested that tho loans of
the latter institution 1k5 examined by them. This they were de
nied. ' The offer ended right there. If these loans are worth
less, then the depositors and stockholders alike will suffer heav
ily, but it is not within tho bounds of reason to think that such
is the case. .
AWAIT BANK EXAMINER WITH INTEREST.
Bank Examiner Gatch is wanted badly here, by the de
positors ami the public alike. When ho lias perused the ac
counts, then and then only, can figures bo dealt with. Until
such a time, as has been repeated averred, there is every indica
tion that the payments to depositors will be but a fraction un
der 100 cents on every dollar. N
When Gatch is to arrive, is not commonly known, though
it is Mieved he has I teen, brought into communication with
local friends of the bank, and that he will be here tomorrow
morning.
MANY COUNTY AND CITY FUNDS TIED UP.
Approximately, there are $20,000 from tho county treas
urer's office tied up in the institution when it closed ; alxut $:V
001) from the sheriffs office; tho city, about $1000, and the
school districts alout $3000. In addition to this there aro
county officials who have placed bond money in tho institution
and representatives of interstate corporations that have com
pany money within tho locked vaults. .
(Continued on Pago Eight.)
SPIRIT OF REST IS
NOTICEABLE IN SERVIA.
Fur Various Rcasoiut Serv ians Are Less
Clamorous In Their Demands for
rr.".r.'..-.i..U awi rtiH vawiy
to Do Battlo -Berlin Treaty Is Not
Violated, Thinks Germany Rumor
os Assassination at Budapest Roy
alty Attacked.
II CASE HEARS THE El
Belgrade, Oct. iS.The Servian na
tional assembly today voted for an ex
traordinary military appropriation of
3, 000,000 to meet Immediate de
mands of mobilizing the army and
protecting the frontier. It adopted
the following resolution:
"After hearing the government's ex
planatlon, parliament expect to exert
the most vigorous activity to protect
the threatened Interests 6f the nation."
Despite the active preparations for
war, their Is a (juloter feeling among
the people today, due to a realization
that Servia is not prepared to success
fully fight Austria,
One explanation of the quietness Is
that the people are convinced the gov
ernment Is preparing for war, and
are satitriei! vlth Vjt deVclojnientoX
events. Servia today demands seces
sion of Sund Jack from Austria and
a money compensation for the annex
ation by Austria of Bosnia and Har-zegovna.
Rumor of AsftaMHlnatlon.
Vienna, Oct. 1?. It Is reported to
day that Count Bergach, the Austrian
minister to Servia, was assassinated.
The city Is In feverish , excitement.
Warlike demonstrations are made.
communication with Belgrade has
been cut and It Is impossible to verify
the rumor.
Attacks Austrian Consulate.
Budapest. Oct. 12. -The Austrian
consulate at Antlvarl, at Port-ln-Mdh-tenegro
on the Adrlutlc sea, was at
tacked by an Infuriated mob today.
The royal coat of arms was torn from
tho doors and burned In the street,
the crowd dancing like maniacs. The
building was then sacked. The at
taches wer rescued In time to save
their lives. Two Au?frlm warships
have been ordered to he scene.
Gentiuny Line With Austria,
Paris, Oct. 12. According to a dis
patch published In the Tempts this af
ternoon, the attitude of Germany re
cording the troubles In the near cast
Is no violation of the Berlin treaty.
Germany holds thut the annexation of
Bosnia and Harzfgovna by Austria.
and the declaration of Independence
by Bulgaria Is not in vlolutlon of the
trtuty. If the Temps dispatch Is cor
rect, Germany will support the claims
of Austria.
CHICAGO WON SUNDAY '
1 GAME, BUT LOST TODAY.
Bets at S to 1 Made That Chicago
Would Win Four Straight Detroit
Wins Third Game Late In the Con
test -Pfiester Throw for Chlcngov
But Was Unable to -Wto Chicago
Led Early In tho Game, But Wu
Overtaken In the End.
. Chicago, Oct. 12. With the Tiger
safely disposed of In the first two
games of the world's championship
series, Chicago fans . were giving big
odds that the Cubs would again win
the championship. The weather to
day Is balmy, Mullln Is pitching and
Schmidt catching for the Detroit,
while Pfelster and Kllng officiate for
Chicago. When practicing began 10,
000 were present. '",
Mclntyre opened the game with two
smashing foul drives to the left field
grandstand. ' An ambulance carried
away a man struck, by one of them.
He grounded to Evers, but went out
at first; O'Lear, went safe on Stein
feldt's fumble; Crawford hit in front
of the plate; Cobb , singled, O'Learjr
sarlnjft-Rosatnrou rhlcage, i
runs. ; ' ' Y ' " '.." .'
Betting, at this point was 5 to 1 that
Chicago would take four straight.
There were few takers. Chance says
his team will be able to take four.
Fourth Inning Chicago: Sheckhard
fanned and Evers walked, later steal
ing second; Schulte fouled out; Cap
tain Chance singled, . Evers beating
Crawford's home throw; Chance stole
second; Steinfeldt hit to Coughlln and
was safe on Rossmon's fumble; Chance
scored on Rossman's wild throw to
the plate, Steinfeldt going to second;
Hoffman tripled to left, scoring Stein
feldt; Tinker out.
Later on the Detroit Tigers made 5
runs, making the final score: Detroit,
8; Chicago, 3,
BERME IS CHAMPION.
Win Men's &lnglr by Defeating Sei
grlst In Fmul Match.
Gerge Bernle won the men's sin
gle championship of the Algonquin
Tennis blub yesterday morning, In de
feating William Rutgrlst, 7-9. 6-3, -4.
This brings to an end that department
of the tournament. . The men's doubles
will now occupy the attention of the
players.
Many Democrat "Come Through.'
Chicago, Oct. 12. The democratlo
National committee announced today
that up-to-date. 25,000 Individuals had
contributed to the campaign fund.
The Morrison case Is still on trial.
The defense is presenting Its evidence
and It Is expected that the caso will
go to the Jury not later than tomorrow
afternoon. But this case has gone
through so many changes that no one
can foretell anything abouts Its con
clusion until the Jury brings In Its
verdict. When the case will go to the
Jury Is problematical.
Will Plead Tomorrow.
Tnhn O . e (J . . . ...lit
was Indlcied by iho grand Jury fur
violating the local option law, won ar
raigned this forenoon before Judge
Knowles and will plead to the charge
tomorrow morning.
Employs A WincheMter.
' Salt Lake City, Oct. 12. John Wolf
of Pain City, Utah, entered a gun store
re? today snd nr'-.r 1 i TTl....' .
trlans. Richard Brone, of Zanesvllle,
O., wss shot through the leg. . A girl's
mru were cut off by a bullet The
loaded It and began firing at pedes- j man was overpowered by clerks.
'. ...
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Interior View of IHinuers A Traders NsUoiutl Bauk, TeixrarUf CkctL
J.