M F Manning

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M F Manning - FTFTTETi: YI5AR--Xtt. 2G7. EDWAHDSVILLE,...
FTFTTETi: YI5AR--Xtt. 2G7. EDWAHDSVILLE, ILLINOIS, FRIDAY, NOVEMBER 17, 1922 EIGHT PA( Wood River Bank Closed Its Doors This Morning TOO LUTE TO Tha First State and Saving hank of Wood River failed to open its doors for business at the u s u a l hour this m o r n i n g . In explanation of this (he f o l l o w i n g sign appeared upon upon the front door of the handsome bank building:--"This hank closed by order of Andrew Russel, auditor of the state of Illinois, pending-examination pending-examination and a d j u s t m e n t . " It has been k n o w n throughout the month t h a t the Wood River bank was In trouble. The Intelligencer referred to It guardedly two weeks ago hut in line with the paper's policy policy never i n f l i c t unnecessary I n j u r y , ·UB r e f r a i n e d from f u r t h e r comment. It is an a p p a r e n t fact today t h a t no depositors will lose any money. The largest depositor is the State of Illinois, Illinois, I h P i r being $ 2 0 0 , 0 0 0 in state f u n d s on deposit. This is fully protected protected by the deposit of securities and (he u s u a l guarantee bond. The C i t y National I S a n k of St. Louis is a creditor to the extent of $100,000. This was f u l l y protected by the deposit deposit of collateral. An interesting point in connection with tho deposits deposits is the fact t h a t $3,184 belonging to the school c h i l d r e n of Wood River is listed and it Is practically sure t h a t they will got dollar for dollar. The stock holder and directors, however, will s u f f e r heavily and some of thorn w i l l apparently be ruined by the crash. The story of the Wood River Bank is best told by starting at the beginning. The First State and Savings Savings Rank was River in 1909. organized at Wood It was a bit of en- ed a check of this same firm for nearly 55,000, has had to make it good, and the stockholders are out just that much. Hatrldge, however, seems to i»Te had many business Last Statement Issued by Closed Wpodriver Bank OFPGESENTHPflST General Statement of the condition of First State Savings Bank, Wood Rivej-, nois, at the close df business, Saturday, October 28, 1922. mi- Resources .? 30,129.75 126.32 Cash --.» Nat'l Bk. Comrn - Nat'l City Bank 18,330.89 Cont Com Nat'l Bank ,. CITHER ITM Liabilities Stock..,. ~ $100,000.00 . ,,,. ,,,.,. ~- Present and former members of 111 be missed as one among you Surplus ,«... /b.WU.UU the Madison C o u n t y Board ot Super-] And you again meet your friends si TT_ _i - : J _ J Ti_f* C *7f\K OQ · I Alton Nat'l Bank Alton Bkg Trust Co' 383.57 102.75 370.69 dealings on the outside and those i n ! Bills Disc .» ."T 492,692.33 ·whose affairs he was interested ap-jReal Estate Loans 120,258.03 parently enjoyed f u l l consideration] Bond Acount ' 104,854.00 out o£ tho bank's funds. It wag perhaps a coincidence that Victory Bonds a raid made by St. Louis gamblers in the Trl-Cltles a few weeks ago, in which the entire bank roll of the game was captured, seemed to have an embarassing effect on certain business business men of the county, whose normal normal affairs would never he thought of m connection" with backing a gambling house. Fourth L. L. Bonds 150.00 50.00 Transit . . . . '. 10,728.60 Expense . . . . ^ 7,240.25 Undivided Prof. Int. Collected , 9,256.77 ,...," 218.85 10.10 , 257.20 265.00 100.00 100.00 Exchange , *.... .· Recording Safe Dep. Box Rents Bldg. Rents . . . . : . . . Dividend Account .. Victory Coll v Time Cert Dep : 239,391.46 Savings 143,391.46 Interest Paid ,, ..: 5,920.45 Savings 143,531.33 New Bldg Account 81,377.40 Dep. Subj to Check :....... 234,304.98 ,, . . ,, , , ^ _ 3,184.91 ..., 10,898.43 12.80 137.16 24.94 ,, ,, . ,, , . ,, . ^ ^ ^ , _ _ , Overdrafts , 6,877.73 A special meeting of the Board of | Overdrafts , 6,877.73 Cash Long 1,297.55 Banking House 8,832.00 New Fur. Fixtures - 37,006.15 Other Resources 1,220.76 School Warrants 23,575.07 Other Securities 12,695.99 Furniture" Fixtures 4,313.49 School Sav. Account Cashier's Checks , Demand C. D. .' Fourth L. L. Coll f. Ins. Sav Directors of the First State and Savings Savings Bank was held on November 11 and tho resignation of Mr. H a t r i d g o l as cashier was accepted. ' Another meeting on November G [ was attended by the directors as follows: follows: C. B. JIanbeck, Robert Parks, H. H. Clark, M. F. Manning, Fred Bender, John Bosonetto and S. A. Beach. Mr. Beach, chairman of the Board, presided. C. B. Manbeck had been elected president to succeed Clark at the preceding meeting, but had declined , so a vacancy existed. It was filled by electing Bosonetto. The $948,905.33 $948,905.33 SERVICE IS OFF AS THE FORCE JUSTICE CARTER MAKES AP MAKES IMPROVEMENTS I'. IIarri Looks T?or an Exit to ^ Some Vast AYilderncss. POINTMENTS TODAY. Charles Boeschensteln Is Named As Vice President. Just as A P. Harris began seeing/ Chicago, Nov. 17--Justice Orrin vacancy In the cashier's position was,, ] l j s way o u t o£ U)e wimerlless in op .'N. Carter, chairman_ today announc- filled by electing Robert Parks. James Duncan, of Alton, who has some stock in the Institution, was elected a director to succeed Manning, Manning, but he did not warm up to. this terpme on the p n r t of soma of the Dubious konor. and never Qualified. leadi'ii! riti'-ipns who realized t h a t ! the f a s t growing community woxild need a m p l e b a n k i n g facilities. In t h e organization been lenders in who had endeavors A resolution was then passed requesting requesting C. A. Caldwell and L. A. Schlafly, of Alton, and Charles Boes- I oration of the plant of the Edwardsville Edwardsville Water Company, a piston rod in (he steam p u m p broke this morning morning at 5 o'clock which resulted In a suspension of service until noon. Excepting Excepting a slight mishap of Saturday, the service had been 1-etter than customary customary and progress in improve- those other took part. It was virtually started'tain the exact condition of the bank, by and lias ever since been operated I Thus appealed to, the gentlemen by men on the executive staff of the'consented .to serve. They at once lu- chensteln, of Edwardsville, to act a s , m e n t s were golns alons n!c ? ly ' B u t a committee to Investigate and ascer- o l d J i n s B ot ln t h e w a y this 5 o'clock the piston rod Standard Oil Company's Wood River organization. E. M. Clark, manager of the oil ·works in the early days, was its first president.^Soon thereafter Mr. Clark was elevated to the position of vice president of the Standard Oil Company Company of New York. He went east and when he did so, relinquished his office office and holdings in the Wood River bank. H. H. Clark, who had been cashier, was elevated to the presidency after S. A. Beach, former mayor, had held the place a few months, and in turn I. C. Hatridge, who had been assistant, assistant, was made cashier. It should be noted that H. H. Clark i s - n o t related In any way to E. M. Clark, who preceded him. H. H. came from white county in the vicinity of Carmi. He had been a school teacher and apparently was more thoroughly versed in pedagogical pedagogical than in banking lines. Ilatridge had been connected with the N i g h t and Day bank in St. Louis, which i n s t i t u t i o n has since become d e f u n c t . Ilatridge seemed to know a good jlc.il about the b a n k i n g business but his t r a n s a c t i o n s on the outside havp been the subject of disapproving s c r u t i n y for half a year by the more conservative hankers. The First State a n d Savings started started out w i t h 5 2 1 . 0 0 0 capital, and this was latpr Increased to $100,000. Last year t h e i r statements showed at one t i m e $83,000 in the surplus. On October 2S, which was the last s t a t e m e n t drawn before the bank's c o n d i t i o n was realized, there was on book ',1.311 11 in deposits of which $143.531 wpre savings. $3184 was school saving a c c o u n t , and ?200,000 ?200,000 was a S t a t e of I l l i n o i s deposit. The lattpr, as is always the case, was specially protected. State Treasurer Edward E. M i l l e r w e n t to Wood Riv- pr Lvt n i g h t to personally satisfy h i m s e l f t h a t all was right with the state monpy. Tlip clouds bpsan to gather this fall. I l a t r i d g p was accepting, checks from firm-; v hich q u i t e r v i d p n t l y had not I'IP f i n a n c e s lo hack t h e m . There is evideiv P I hat i o i i M d p r a b l e "kiting" 3f t V c k s was done A n o t h e r bank in HIP ( M i i M w i , r r c [he c d = h j p r accept- sisted that an examination be made by the State Auditor, and this was Immediately done by E. E. Nicholson, and J. Watson, attaches of that office. office. As a result of their findings the ing. About snapped in two. It is a cylinder of steel, about two inches in diameter and two feet long. A cause for the break could not be found. The system was filled with water but it was exhausted about 7 o'clock when the daily drain began. committee made it known to the di- A re P° rt e r visited the plant at 9 rectors that the cash reserve was in °' cloc ' k a n d follml Superintendent such depleted condition that the immediate immediate raising of $100,000 was necessary. necessary. The directors buckled to and did their best. They contributed the following following sums: C. B. Manbeck 5,000 M. F. Manning 6 , 0 0 0 Robert Parks ,,, H. H. Clark . . . S. A. Beach . . . J. Bosonetto . . . Fred Bender 7,500 15,000 Harris and other workmen putting in a new piston. Installation was delayed for a short time while it was being fitted. At noon the pump was back in operation. The reporter found heaps of machinery machinery and materials piled about ed the appointment of the general committee for the ratification of the proposed constitution and the members members of the State committee from Cook County. The officers are as follows: Chairman, Justice Orria N. Carter. Secretary, Stephen D. Griffin. Honorary vice president, former Gov. Frank 0. Lowden, Oregon; Senate Senate Medill McCormick, Chicago; Senate William M. McKinley, Champaign; Champaign; Charles Boeschensteln, Democratic Democratic National Commltteeman, Ed- wardsvllle; former TJ. S. Senator Lawrence Y. Sherman Sprlugfleld, and former Qov. Charles S. Deneen, Chicago. Vice president, Judge E. C. Kramer, Kramer, East St. Louis. Th e names of the Downstate committee committee members will be announced later. Headquarters for the general general committee are in Chicago. Application Denied. DAVID R. SAPPEVGTON EXPIRED ON YESTERDAY. Resident Who Lost Legs Was In. valid for Long Time. Plans are being completed today for the funeral services to be held Saturday afternoon for David R. Sappington, native of Edwardsville and member of an old family, whose death occurred yesterday afternoon at the home of his sister, Mrs. Sarah Elizabeth Wilsori on North Fillmore street and which followed an indisposition indisposition during the past eighteen months. Ten days ago his illness took a decided turn for the worst and those who had been caring for him realized that the inevitable was near. Services will be held from the Wilson residence at 2 o'clock, Hev. M. C. Foultz of St. John's M. E. church having charge. Burial will ] 5,705.2,3 j V | sors gathered at the St. James " """ "" Hotel last night for their annual reunion, reunion, banquet and to hear a well arranged program. A large percentage percentage of the 172 who ar e eligible to membership were present for the occasion and those who were in attendance attendance enthusiastically voted to hold officers elected last night. The banqueters gathered at 6 : 3 0 o'clock and enjoyed a delicious feed. The menu follows: Oyster Cocktail Celery Wafers Olives Roasted Young Turkey Cranberry Sauce Giblet Gravy Cream Potatoes Candied Yams Waldorf Salad "*' Ice Cream Cake Coffee John Elble of Alton, who retired as president, started the ball rollin' for th 8 evening in his customary humorous manner. He had a n u m - ber of remarks and offered one of his original poems on, "The Boar.d of Supervisors of 1922," It followed: When did you and I first meet?" Why 'twas at tho formation of a new County Board. I remember, it was in front of the old Court House, on the street, The old building which we formerly adored. Since then our friendship has been binding Since then the young have come, tup old have gone; Yet, to meet you again is inspiring', And when we part we say so-long. One year ago tonight we all met together together To shake again the hands of friendship friendship true No matter what had passed, or whether We differed in politics as each one knew. Each year as we ara growing older Some member may be be called away Like a book without a folder be made at Woodlawn cemetery. Ef- ' Our time wiu surely cojne soma forts are being made to have six former employes on his peanut wagon serve as pallbearers. ton had the stroke which was to ton had the storke which was to eventually cause his death. During the summer he was ab,Ie to occupy his invalid chair, proved at the time. He seemed im- Twenty-five years ago,* after re- 1 B O tender At present we enjoy these happy meetings. They bring back scenes of bygone days, And inspire us by our greetings And make us better in many ways. Time will take away some member will answer to his last roll call. ' That's the time we'll speak of him Washington, Nov. 17--The Inter- tiring from the farm, while employed state Commerce Commission today at No. 3 mine he lost both the yards of the water plant this stale Commerce ^umiuiasiu.i Luuay - -- « ""·«= ^ IUHL uum legs morning. The machinery Includes' denied tne a PP lication ° £ the Ameri : , above the knees when some railroad parts of the plant which will be dis- can Railwa y E *P re39 Company to in- oars were being spotted at the mine.' I carded and replaced with new. Som* I = reas « Interstate express rates. A One of the cars knocked him down,) His good deeds we only will recall. When" my friends and supervisors I'll be called I have no fear. dear, Each time growing stronger and more true. Then will come the time of askinj I in spirit will be near. ·- I'll ii be with you while you are pleasure basking. And in spirit answer why John El- blc is not here. E. W. Mudge of Ed-vardsville cleverly served as toastrr aster for the evening and called upon a number number for short talks. Representative N. G. Flagg headed headed the list. Ho gave a ten minutes minutes talk on "Taxes" and gave thi. supervisors a few points on bovr the tax questions apply to them. Joseph Long of New Douglas who was a member of the Board ol! Supervisors Supervisors forty years ago and who ha s since represented the township on a n u m b e r of occasions was His subject was, "The County Board and Cause of A d o p t i n g Township Organization." N. 0. Klein_ another of the older member's, related some of his former experiences, his talk being of a humorous humorous nature. Louis Koch of Highland was another another who drifted to the humoroui and related a number ot reminiscences reminiscences of years ago. Herbert G. Giberson of Alton, elected last week as^state senator on "Some of the Duties of a State S«-, nator." He told his old associate! "they may expect faithful, industrious and honest service while he represents represents tho district. James Squires of Carrollton former former county superintendent of schools and member of the board, spoke on some early history about township organization. Frank Troeckler of Mitchell jpokt on organizing the Association ct Supervisors. Supervisors. He had an interesting review of county affairs and spoke in favor of adopting the new constitution. constitution. "The New Constitution," wai the subject of John J. Brenholt ol Alton, member of the convention adopting of th e constitution. He declared that if it fails, Chicago wil! write the next constitution. Officers for the ensuing year Tper» chosen during a short business session. session. Those named are Jos. Grossheim, Grossheim, j Alton; president; Herman Roftman, Worden, vice-president; Samuel Clayton, Collinsville, secretary. secretary. 7 , 5 0 0 | 5 000 i o £ tlie n e w is a r r i v i n S and other is g ' o f l o expected shortly. The 551,000 thus assured was aug- Today, Superintendent Harris is men ted by help from neighboring j tr ' in S to B et traces o£ t h e new booster booster shipped from A u r o r a , 111., on October October 30. It has been lost in transit. He received a telegram that an elec- 1 general express rate investigation is 'he wheels passing over the legs and l o w under way. Hearing begins next: t h e y were badly mangled. The banks. It had been suggested that the Alton banks put up the other ? 5 0 , 0 0 0 but the Alton Banking and Trust had helped the directors in their personal raising of funds, so the Citizens National, National, the Alton National and the i trie p u m p I was ihipped yesterday ard will be installed as soon as it arrives. With the new machinery in Monday. Alton Savings, all of Alton, invited P ! ace M r - Harris hoDes to be able to the Edwardsville National to co-operate, co-operate, which it did. These four banks put up ? 5 0 , 0 0 0 an equal sum of $12,500 $12,500 each which. Is secured by the hank building, which with its fittings Is easily worth twice that amount. The only question was whether this would he enough. It was not. The rumor rumor had spread, and there was a constant withdrawal of funds. Yesterday Yesterday It was seen that more money would be needed. Thirty thousand dollars would be enough. Ten thousand thousand was raised. That was all, and today the end came. In analyzing the" difficulty one is struck first by the plight of the directors. directors. They are all men who are busy In other lines, and they did not have the time, nor did they have tho financial experience to pay proper attention to the bank's affairs. They just assumed that everything was all fight and accepted the statement of the president and cashier that they give the best service the city has known. Several combinations are being arranged arranged to deliver water into Edwardsville. Edwardsville. The company will have two wells, each 116 feet deep and do away with the wells not so deep. A steam outfit will be used to raise water from one of the wells and is in operation at the present time. The water in the other well will be pumped by the new electric pump shipped yesterday. The booster will be operated electrically electrically and the foundation for it has been completed. Everything is ready today for a connection with, the mains as soon as the booster is set. The plan is to pump the water by either of the pumps, forcing it into the booster which In turn wi!l make delivery to the main line an1 into fidwardsvilJe. The olecnic p:rap is arranged to either send the water directly directly into the booster or convert It "were making money." Next to' i n t ( i a new reservoir. The new steam that Inattention to business the cause P u m P is arranged to pump water In- .to the reservoir and it is then sent (Continued on page 5.) [into the booster. Springfield, 111., Nov. 17--With returns missing from four counties. Cook, Will, Sangamon and Macoupin, Macoupin, the majorities for the bonus and beer propositions at the recent election are as follows: Bonus, 147,176. Beer, 107,102. Cook, one of the missing counties, is expected to give both of the propositions propositions a huge majority. Consequently Consequently election figure experts here believe the bonus proposition will finish with a majority of 200,000 and beer with at leaat 175,000. The bonus proposition is figured on the basis of the vote for members of the General Assembly. Returns filed to date in Secretary of State L. L. Emmerson's office show State Superintendent of Public Instruction Francis E. Blair running considerably ahead ol his ticket With five counties missing Blair is^ leading his Democratic opponent by 201,314 and the final figures are expected expected to boost this total to 375,000. One of the peculiar developments of the election W£s the defeat o£ 52 of the present county superintend- nts of school*. double shock nearly proved fatal. When Mr. Sappington was able to be about he introduced the peanut and popcorn wagon in Edwards- jvllle, building up a thriving business. business. He maintained the wagon at corners in the business district of the city and sold thousands t sacks of nuts and corn. He a .erwards gave up the business.. David R. Sappington was a son of Mr. and Mrs. Caleb Sappington and wag born near Edwardsvllle in June 10, 1856. He had attained the age of 66 years, 5 months and 6 days. He spent his younger life on the farm and lived in the vicinity o£ Carpenter Carpenter for a number of years. After the death of his father the family moved to Edwardsvllle. Mr. Sappington was employed at the n;ine for several years before the accident. He never married and made his home with Mrs. Wilson for a number of years. 'TWO other sisters sisters preceded him to the grave. Experiments Successful. Norfolk, Va., Nov. 17--Projectiles 17--Projectiles weighing 1,660 pounds have been hurled from the giant Ho,wit- zer at Port Story and registered dir- ec't hits on a moving target 22,000 yards, or approximately 13 miles, at sea, it was learned here today. The fire was directed from airplanes airplanes and exceeded all expectations of the army and naval experts under under whose direction the experiments were conducted late yesterday. John Staab, connected with the Nelson Manufacturing Company received received a telegram this morning at 11 o'clock, bringing sad news of the death of his mother, Mrs. J. N. Staab which occurred at Williamsburg, Williamsburg, Mass., this morning. She was 98 years old age. ,,. old and died from Mr. Staab made a hurried trip to St. Louis, catching a '0 o'clock train {or New York and will reach home been received from persons) who will a few hours before the funeral on be in Edwardsville in time for the TD TILK flT Thomas Renaker of Carlinville was announced this afternoon as a special speaker at the anr.ua! meeting meeting of the Madison County Farm Bureau tomorrow afternoon. His subject will be, "The New Constitution Constitution as Applied to the Farmer." lie will speafc at 1:30 o'clock, immediately immediately after dinner and i.he public is invited to hear him. Exactly 624 acceptances have Sunday unless delayed. THREE KILLED BY EXPLOSION OP STILLS Chicago; Nov. 17--Three persons were killed and nine Injured during the night by the explosion of two moonshine stills. The buildings were destroyed in the fire which followed the blast. The body^of Mrs. Jacob Verdoni, 31, wife of an Italian grocer who occupied one ot the buildings and said by the police to have been own. banquet. 3IADISON DEAF MUTE ROBBED OP $300 Silas Cain, a deaf mute ot Madison Madison was the victim of holdup men St. Louis last Sunday night when he was attacked by two men and robbed of $300 while waiting for a McKIr'- ley car. "j Cain was found by a patrolman ' wandering about in a dazed condition. condition. He was taken to the polici station where-he wrote an account ol er of the stills, was found in the ( t b e robbery, ruins of the buildings. The body of Mary Verdoni, 9, a daughter, was found clasped in her mother's arms. Steve Bottino, 11, was rescued from the burning building by firemen firemen and rushed to the hospital where he dia' J. T. Rogers, of the Post-Dlspatcli is a visitor today. The Weather Increasing -londincK, probabl] with rain tonight or Saturday. Warmer tonight.

Clipped from
  1. The Edwardsville Intelligencer,
  2. 17 Nov 1922, Fri,
  3. Page 1

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