Evening Republican, Volume 19, Number 97, Rensselaer, Jasper County, 24 April 1915 — Hip Pocket Banks Investigated. [ARTICLE]

Hip Pocket Banks Investigated.

Hip pocket banks, operated among the foreign mill workers in East Chicago, Indiana Harbor and Gary, will be investigated by the state authorities as a result of the recurrent failures by individuals who operate them. B. R. Yasulis, of Indiana Harbor, who acted as a private banker, is the latest to file bankruptcy proceedings. His liabilities are $16,000. His 80 unsecured depositors are demanding that an investigation be made of his books. It is said in Indiana Harbor that there is more money in these banks than in the national and state banks.