, 1877-09-06
The Creditors Committee Decide
to Get an Expert.
Mr. Subway Tells Them About tho
State Of the Bank in 1878.
And They Arc Convinced that It Was
Sound at Tint Tine.
a Brighter Prospect for the Dopositors--
The Hauslein Entry Explained.


asked questions McecMr. Daniel Goodwin. Jr., and
Nit. j. +. Wiieon. the lawyer. What tic Com.
| nittcc desired from them WINS 10 kpow abont the
condition Of the properly owned by tI4o n.sftut}on
ae regards taxes. Tho gentlemen informed the
Committee that County Treasurer luck was already
selling The property oatsfdo Of tho city, and that
he vuula soon transfer Ills operations 10 city prop
crty. and they accordingly suggested tnat some.
thtug be done 10 protect ths property. Tho Com.
nl!ttcc adopted the suggestion and authorized Nr,
Wilson, vim has had chargc of this part Of tho
hanks bnsircss for years. TO that the land was
taken care Of, and did not pa.a ont
| Of the hanks hands. Tho taxes will l,o maid az
soon as Is absolutely necessary 10 DO 70, a,, the
bank Win Tins hold on 10 this portion Of It's assets
] MIR. GOODWIN WAS AsKRp TO RxrLAIN
| 4 80, 600 transaction which tho Committee t1sd
come ntross In tho hooks. In reply he stated TINT
] hc had borrowed the moncy Of the bank on tomo
| property Of his. giving note secured by mort.
gapc on the Eare. lie afterwards sold the property
| TO Cloudy & Chandler, who assumed the mortgage,
and he tuoodwfnl got back his note. Tho cxp,a-
nation was deemed sufficiently satisfactory, and
! Sfr. Goodwin md Mr. Wilson wcro SLOWED TO
| DEPART
Then the Committee called In
. Iii. L. u. Subway
and Mr. Perkins Dnss. Up to this fine the pro.
ccetncs had been private, bnt Mr. sdway insisted
tint, tnasmuch as the meeting Of tho day boforc
been made rrdcettng on ihc old management Of tho
bank, TIC present meeting mnst also be public, 10
that what he hal to say tn reply 10 those tusinuA.
tlons might 20 out to tho world.
The Committee saw tho justicc of the demand
and the reporters were Invited 70 take scas III the
81. sIiway .waa, ntst usked Wien he tcfs the
bank; and rcpSti that It was In January, jH71, at
being nsked a. to wlcn tho othcrs iii he Ganks
le iepi!ed Tint Ar. liatnes lefi In 1aS2.
M .cd Fl. .taes @ ' is4 saa
onlcia position Until October of liz year. Msssrs.
PoIs, fo,'s5. rotIer. sad Kiddef vent out IN
Mr. sidway had by this time gotscu bold Of
Ledger =, which. b stated, showed all !hc assets
~ %.t ana T \ iss xs, Il, e. was its t* ledger
tho assuts Of the bank nt that tImo hir Sidwny
added that Tho Committee might have luokesi into
s ax rs Gn%K nrce "eex e sgo cJ had 20 dessed as 1t
sss.S sss I & e. Ct; ssr:; s; g. s @ s
trying "a dad oas III .hsy Gould, sss s'a
1a,y Yas i,,,1 not to " ;11pectss4 hst they
iSs a xhs f % ws ho wond dflh III. q se0ss soow a'
further, wus whother .thctu was ionrnal Of any
othof book showing in detail what :hesc assrts
Mt. s,Iwsy s.id thsrc vas..
NJ: keeley Remarked that the Committee lad
Mr. sidway saia there wcrc other books To show
.ns a.sr,s its,a,.e tn detail Ledger ~
ilSruCu Hu hEuIlEell AlEUuNE Oi everything In tho
:s e.SSf .ss H. ss1
Mf A'r,en sstu It, avs; T. It, f,fo
count known ~ ''IillIs Discounted, which Mr,
sidwny ~ rena5ktnE tat i showed ths balance
!snt .olnewhero which wonld show tho yoFlous
ftclnh included IN that balance.
NJ. Wentworth inquired Of a1r. I'ass a. 10 when
. G. T. Huwcn came into tho bank. nnd when he
slated that Mr. Do.en GANG 10 The lst Of ianssry.
showed that tito iato Of that Transaction occurred
Aug. t6. 1916, whvn he probably went out.
NJ. ". sldway suggested 10 The rommi'ses lbat
otrouT TO zMrs.oy AN rxrsxr
TO 20 oser tho bnoka with them, IA nobply but an
s1iett could 6o expected to 80 through tho books
air. Wentworth somarkel that slcrs might bs an
q bSt =, 70 wha. no
,otlon, they wanted 10 and out, ,among other
tt'uEs. how 20 20 much sfashr napee had hcen taken
l.al.oud stock. mud others loo NUMEROUS TO nlsn.
W.. ae:e,utsl; 70: Tslths.. nn te S, hna
hank Ind iakca tiisso, ,wo1thless securities. Wond
eau sow @ resasns II Its ssssS ns.sur, II wa
sir. sdwny *ald the ho1ks would show It nll, and
these i ,n W.. 10 difficulty ~ finding nal anything
everything IN shs hank Jan. l, 1s7J aud tne Com
mittos eonlA to'!ow i. up and sss what bucams of
Mt. Alsrich an,Ittea That The ledger .bowca
everything ny 10 Jan; !. lh73 but nftet that date
i,s't = snksa ~ y hs books Aaa boon ss!sn..aca!y
le as ha aicd la bcssea ie nsnk Hs,ea uaaas so
bnt be ssy 10 ioae iof auJsr as1uts. s1a naa
Agenlrnt OF Mr. aldwaYs succcssosy.
an ~ s"'f asa s4s sassss% ~
woald realize llite or nothing out Vi she ank ana
ws1s ,.,a; seiinf II t,et S"oks An expert eoad r.
tsta Of which tho comattoe know nothing
~. Al4slch sa!4 they had not given currency 10
any statement @ Which could lead depoa!lofs to form
AF. Wentworth said hu didn't propose to stand
oas % tho ,;s. md ri, nsor!s hey Moqn get
what b. did wiki 10 .ns was that II tic eoncern
asssta would 10 eatrn uu IL payins EXPENSES.
At. KeelrY Thought IN cxpcrt would end sou1a
sess Ssss{ I'LL Y "saatnE sSs =. the eaf H.
which the bookteepcr was wholly unable 10 *.
Nj. Alddch. while mol elaimtns to 10 IN expert,
sahi he knew HoincthlnX about tho way books |
SoeH conn u ,ae at q sc1s
wets snno vaFs apparent In'tances Of very queer
lii. shsway s.!d IN accountant could verify the
accounts ct Jan, tnT;t In very short lime. The
balances Ia ntor l!aHks could 6u verified by going
Mr KeeIs3 ssictrc M 10 lis 1isSaant ia rce.t.r .u,
asked Mr. sIdway 10 e1plain certan cniFrs refer.
red tu thu day lciore- |
III. hhtwny sepica that hs w4s no accountant |
now, although 10 once was. ThstrfoFc he caniu |
not bs expected 1t u,on,cnts i.olIcs 10 light %
certain entry And explain 1t to the Committee. 4
shotuugh accountant. familiar With tracing out ]
iheso things, sould 10 over lha b,oks Ia short |!
tine and explain matters 10 the Eommlltse In !
liz. Aidleh-pIa tho bank mako purchase o,
some
REAL EsTATa IN HYDE rARKa
Nj. SldWay-fcycF, .-.'a.
Mr. hllrtch- DID lho o1lcerst 1
MI. sidway--f bought pteco Of land there a |
good many yeass agu foF $5 600 cash, but tho bauk
hae nothing to du with It.
A!s. A!drIch-ilid tue other officers buy, tooi
Mt. Sldway-Ycs, sls. Nc bought property sd-
Joining Iouf oWn land down thurc, ]
Mt. A!dfIch-Wh0 Mefc tho otheTsl
Ar. sldway-Mr. p0Ee, Mr.. llaues. and Mr.
sehactleE. hut tue bank had nothing to Do With |
1t IN auy shape lnsnbes.
Mf. Atirich-p!5ut thcy furnish money or loan
monsy on this purchaser
At; ssdwsy-So, str No money was borrowed |
e, ooo apiece. ! bought 100 acres and paid 'for |