Evening Republican, Volume 16, Number 143, Rensselaer, Jasper County, 14 June 1912 — “Bunk” Reports Circulating In Monticello Financial Circles. [ARTICLE]

“Bunk” Reports Circulating In Monticello Financial Circles.

Ever since the financial troubles of Dr. gangster and Orrie Eldridge became known at Monticello, rumors have been circulated at short intervals in that city of other prominent men being on the verge of financial collapse. The latest food for the gossips Was offered last week when T. W. O’Connor, mayor of that city, and president -of the Monticello National Bank, and a party left early one morning in his automobile for Detroit for an invoice of automobiles. People began to whisper that he was a bankrupt 1 and that he was in such a hurry to flee the country that he had his automobile take him away before daybreak. As the gossips waxed warm on their subject the story grew to a great proportion and it was reported that there was a run on the bank. That story was soon disproven, however, and an investigation showed that there was about $25,000 in currency in the bank and plenty of available money in Chicago and Indianapolis. Mr. O’Connor possesses considerable wealth. He owns three big business buildings and a fine residence in Monticello, all of which represent over SIOO,OOO in value, as well as much other city property and over 900 acres of land. He also has property in Chicago which is worth SIOO,OOO or more. Inquiry indicates that the unfavorable reports were started by a jealous competitor in financial circles.