Jasper County Democrat, Volume 8, Number 2, Rensselaer, Jasper County, 15 April 1905 — BLODGETT ON “BUSTED” BANKS. [ARTICLE]

BLODGETT ON “BUSTED” BANKS.

“Billy” Blodgett of the Indianapolis News, is busy these days writing np bank failures, and his latest effort is that of the Farmers Bank at Wolcott, mention of the condition of whioh was made in The Democrat several weeks ago. Blodgett has not only been at Wolcott and written up the situation their but has also been over in Illionis and looked np “Banker Settle’s” record. Settle, it appears, is a Misnomer, for be has did little settling with depositors or anyone else wherever he has been located with his string of banks, according to Blodgett. Blodgett also mentions the faot that four private banks have gone under in this section of the state within close proximity of each other, during a period of a little more than a year—Fry at Roselawn, the McCoys at Rensselaer, Gilman at Goodland, and Settle at Wolcott—and says that while the loss by the latter is but little—some SB,OO0 —it was about the most complete looting that ever took place, no assets whatever being left. None of these bankers have thus far been punished for their misdeeds, and the latter’s whereabouts, like Gilman’s, are unknown. Settle at one time was negotiating for the . purchase of the Wheatfield bank in . this county, before it passed into the hands of the present owners.