OCR Text |
Show MANY BANKS WENTJ0 WN Thirty-Eight of Iowa's Financial institutions Have Gone to the Wall. DES MOINES, la., Nov. 18. The bank of E. H. Skinner at Birmingham, la., has gone into voluntary bankruptcy. The institution was operated as a private pri-vate concern and the exact cause of the trouble has not yet been made public, but it is supposed to be the. result of heavy investments, made a number of years ago, in a railroad project which did not pan out as well as was expected. The past year has been an especially bad one for private banking institutions In this State. Thirty-eight of such concerns con-cerns have gone into bankruptcy, either voluntary or through orders of the courts, and in nearly every instance Injudicious investments have been the cause. Fatalities, too. have followed in many cases, no less than eleven bank officers having taken their lives after the doors of their institutions were closed. |