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From Again A bout landlt s Km2ZmS mmmm m jjS CONGRATULATIONS are in order and warmly given to the McHenry State Bank on the occasion of the Grand Opening of their Gerald J. Carey building. We are pleased to have been a supplier of lumber and building material for this project and feel that the McHenry State Bank should be proud of it's contribution to McHenry's business com­ munity. LEXANDER LUMBER COMPANY 909 No. Front St., McHenry 385-1424 Ope|i Saturday 8 to 3 Weekdays 7:30 to 5:00 PAGE 4 - WEDNESDAY. OCTOBER 10.1979 (Continued from page 3) bonking institution-o combination of •ho two form or bonk*. Tho legislation that como out of tho special session of Congress and subsequent sessions resulted in now lows that strengthened the safety of ho^ks. Included was the f establishment of margin requirements. The Federal Deposit Insurance Corporation was created. The Glass-Steagell Act was adopted which dealt with branching and mergers. the Congress also passed a prohibition on the payment of interest on demand deposits. The consensus wps that competition was causing banks to pay too much for deposits i resulted in the need to make, twgh risk loans and investments to meet the interest costs. *.To this day, banking continues to be one of the most highly regulated industries with rinony of the regulations adopted to insure the safety of customer deposits. 19'the first two months of 1933, 5500 or approximately 20 percent of the total banks, suspended operation. Franklin D. Roosevelt was inaugurated as P resident on March 3 1933 and on the following day he declared a Moratorium which came to be known as the "Bank Holiday." All banks were ordered to close from March 6th thru March 9th. On March 9th, a special session of Congress was called to enact emergency bank legislation. Only those banks able to meet all obligations were allowed to re-open, the remainder were either merged wigh stronger institutions or forced to liquidate thru the appointment of a receiver. Stage Holdup Aug. 16, 1928 Plaindealer Enter West Side Insti tut ion Noon and E scape With 19. Iddled Body Of One Found In d Near Mt. Prospect. leave Building They Are By Edward Nickels; He Kil led One and Injured T he body of a man found in an autctanobile abandoned in a corn field near the Wheeling road, two and one- half miles north of Mount Prospect, Wednesday, was identified as one of ^hefive bandits who robbed the West IfccHenry State Bank Monday. --irJ he car, bullet riddled, was identified as the one in which the men jrttade their escape under fire of £dward Nickels, one of the bank .guards. gvj he body has been identified as that JcAngelo F ranciscoi 34 years old, by s» father, Anthony, 2450 West £«tperior St. Chicago, and also by his jtyrotther, Michael. oM^cHenry came into the limelight aain on Monday after several months of quiet routine, when the West jy^cHenry State Bank was robbed by ormed and masked bandits, who ped with $11,009.19 in currency. •e-T he holdup was another bold affair £taged at midday by five roughly {jrf*sed men, four of whom were, thought to be foreign ars, probably cans. They had probably learned from experience or observation that this s the most advantageous time of titty to pull the bank robbery crime as fottin Street is practically quiet dtrrlng the noon hour and several of NI * . A. . J tffcu > the bank employees are home for dinner. It was about 12:30 Monday noon when the five bandits, driving a dark colored open Stutz car, with bright red wire wheels, drew up along the curb and leaving the motor running, entered the door of the bank. They were dressed in overalls and wore sun visors to give the appearance of workmen, but each man was heavily arm ed with a sawed off shotgun or pistol. T here were only three of the staff in the bank at the time, including Gerald Carey, vice-president and cashier, Floyd Foss, assistant cashier, ond Harold Bacon, clerk. The other clerks, Robert Weber, Gus F round and Miss Genevieve Carey, were out to dinner at the time and Mr. Webster, president of the bank, was in Chicago for the day. CASHIER AT DESK Mr. Carey was seated at his desk in the front part of the room, talking to Mat B . L aures, while F loyd F oss was at the second window waiting on a customer, E arl Monear, proprietor of the Palace Recreation Parlor, and Harold Bocon was at work near the first window as the men entered very hurriedly and noisily, pulling masks up over the lower part of their faces to hide their identity. _ "I thought the men were probably road workers coming in to cash pay checks" said Mr. Carey, but he soon learned differently as the leader, a short, stockily built man whipped out an automatic and ordered him to lie face down on the floor. With much loud talking and rough language the other members of the gang at the • . : «iotn • > > Sim on Stoffel Simon Stoffel, one of the founders of the West McHenry State Bank, was also one of the original directors. He served as vice- president from 1906 until his election as president in 1930. He held the post of president of the bank until his death in 1942. Dr. C. HTf egers Dr. C. H. F egers was named a director and vice- president of the West McHenry State Bank in 1909. Dr. F egers was: elected president of the bank in 1916 and served until his death in 1924. Joseph W. F reund Joseph W. F round, one of the*original stockholders, served on the board of directors from 1934 until his retirement from the board in 1950. CarlW.Stenger Carl W. Stan ger was the firfct cashier of the West McHenry State Bank (now theMcHenry StateBank) and served in that capacity until his resignation in 1926. He also served as president of the bank for two years. F rank H. Watt les w Frank H. Wattles served 88 the board of directors of ihe West McHenry State from its founding in 1906 his death in 1936. At the tijrJ# of his death, he was chairman of the board of directors. "S* ot tne Bank buntU > tint? sam e instant employees of patrons in th« Instant covered the two other the bank and the two patrons in the lobby with the orders first to "stick 'em up", followed at once a command to lie down on the floor. One of the men stood near the front door guarding Mr. Carey another one stood over M r. M on ear partly through the cashier's window with a gun on Floyd Foss and Harold Bacon, who were on the floor near the telephone booth. T he others entered through the door leading from Mr. Carey's office and quickly made a systematic search of the money drawers and bank cages for currency, emptying the drawers and scooping the money up into bags they carried for the purpose. Besides the currency they secured some gold and silver and sundry coupons. Tho robbery only required a few minutes' time, probably not more than two or three minutes, when they left admonishing all in the bank to remainquiet and one bandit saying he would rem ain for another car, told his companions to go on, probably to makethosein the bank believe that he was still on guard, and leaping into their car they started west on Main Street. FOSS' THIRD E XPE RIE NCE Floyd Foss, the assistant cashier, who is getting to be a veteran in this sort of game, this being the third bank robbery he has weathered in as many years, was able to touch the button which sounded an alarm in the H.J. Kamholz hardware store across the street, where Edward Nickels, a member of the McHenty county bank guards, is employed. By the time that Mr. Nickels, who was waiting on a customer in the farthest corner of the store, could get his gun and to the front door the last two bandits were getting into the car and as they departed at a high rate of speed he emptied three or four shots into the car as it sped down the street. He thought he saw one man drop as if he had been hit, but was not sure of it, although he was sure that he hit the car, much of the shot from the last discharge of the gun lodging in the Alexander Lumber yard. T he car sped west across the railroad tracks, turned ndrth at the McHenry Lumber Company sheds and back onto Waukegan Street and across the new bridge over the mill pond and east on R oute 20, across the new river bridge. T he big car, traveling at seventy- mile an hour clip was notrced as it sped through L ily L ake and Wauconda and turned eastfon a dirt road leading in the general\direction of Mundelein. R O B B E R S ' C A R GOESEfeST Chief of Police Jack Walshf, with John R . Knox in the latter's big Lincoln car, traced the bandit car as far as Wauconda before losing trace of It. As Officer Walsh and Mr. Knox sped along the road after the robbers at a ratept speed almost equaling^hat of the pursued car they would stop to inquire and found that the car had been observed as it sped over the country roads, avoiding the pavement as much as possible. T he m en crouched in the back of the car, two of them keeping watch in the rear with guns ready for instant use, and those in the front seat crouching so low in the car that only the hands on the wheel were discernible, sped over the country roads until near Lynch's school house, where they turned back on their trail and then turned off and it was here that the trail was lost. They were also followed a short distance by Ed Nickels, Jackson ond Lacy in the latters car and by Harold Bacon and Carl Weber in his car, but they lost trace of the robbers between L ily Lake and Volo and gave up the pursuit. Sheriff Sanford of, Woodstock was on the job and state highway patrolmen assisted in the search, while police in all neighboring towns were notified. Police were notified throughout the country and the search has been spurred on by the offer of a $1,000 reward offered for apprehension of one or more of the criminals deed or alive, by the McHenry County B a n k e r s ' F e d e r a t i o n . BANK ROBBED IN OCTOBER, 1925 The looting of the bank marks the second time in the post three years that bandit gangs have victimized the institution. On October 24,1925, a gang led by Jack White, a notoritiGs Chicago police character, staged a robbery similar in detail to Mondayls holdup ond made away with currency totaling $48,775.29. White. arreste<Hn Chicago, is now serving time fonHts part in the $90,000 Internatioftfcl Harvester Company pay roll robbety, and Eddie Cosgrove is in JoUjet penitentiary, while other members^ the gang have m et with violent deaths at the hands of Chicago police. io On Nov. 28, 1926 the Spring Grovoe State Bank was looted of about $2,000 but the robbers were caught at Pox Lake before they could make-'iva getaway. R O B B E R S M I S S 520,000 A completecheckup on the amount F loot obtained by the banc the amount to be $11,009.19. bandit shotos In their haste they overlooked $20,000 ^n currency which was in a package lying on a table in the directors' room ready for shipment to Chicago. ? The loss is completely covered iSv insurance in the American Surely Company of New York sold by Stoffel & R eihansperger. M r. R eihansperger represented the company in checking the loss and the insurance adjuster was at the bank T uesday and lost has been fully and promptly "settled" by the company. As related by the different ^pnes most vitally concerned in the holdup (Continued on page 5)