People's Pilot, Volume 4, Number 19, Rensselaer, Jasper County, 26 October 1894 — CAN’T STAND THE STRAIN. [ARTICLE]

CAN’T STAND THE STRAIN.

George M. Irwin & Co., Supposed to Hold $2,000,000, Forced to Suspend. Pittsburgh, Pa., Oct. 24.—-The run on the discretionary pools continues. Two or three concerns are paying such investors as refuse to be persuaded that the institutions are solid, but the others are relying upon the thirty days’ notice to give them time to settle or leave town. The office furniture of the Public Stock and Grain exchange have been levied upon on the suit of Mrs. Tillman, of Altoona, who invested 8400. George M. Irwin & Co., who has been in the discretionary pool business for over two years, and are supposed to have over 82,000,000 on deposit, suspended payment at noon and demanded five-day notices of withdrawal. It is estimated that Mr. Irwin paid out over 830,000 Tuesday, and that he has disbursed in all since the run began about 875,000. Tuesday night C. H. Delaney and Henry Delaney gave bail for a hearing on five additional cases charging conspiracy to defraud.