The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-09-12

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saaHMi lsaAA ~ ssAs W. that semiA nas
iussis st4.ss " oshrs snrsni~~e n chr
Ashasrasas ana shs niHhsnn " Freely
impressed In Wall sss~si thai she Fret
Nssaaaei Hank hAs i~ssn made II share
~ ,snsfss with Mr.. khermsnt fsirn.is
A lac sasss II the rsssflss went b .lsfsss
hernislseaa ssrennt ri the Nnslsne
canvass IN Ohio. II II freels asserted
,iaas sssrnalses III the uhse Stale ke.
tsalaisrAh Cssmmistre went n all the
Syndicate lenks AMI Substantially A..
rnanti..l share III their profits 10 help
bolster up Hay~. Al least one.hali 81
the harris. however. refused Ia pay \
ceml Tie officials arnllea ia said
srsmnils; I've get no iutefest in the
Ohio election, | wuaid inst rs soon
s.r living elected A. Foster don't
care ilr about either ono. anil | won't
salhsvralsr n cent"
There il mnrh dissatisfaction among
nasicnal.hank officers AMI other holders
Of call bonds a. Shcrman's preference
II ,he First National llank ~ a pur.
chaser III i.rar.cent. bonds After his
circular. promising an opportunity %
holders III In ias a. exchange them nil.
vantage nsls for 4 yer cents. lis snl.
den .iiekrr with the Syndicate, aud his
pscfernc. III the First National Bank
u Tho ,leirmcnt III more than 1000
ether hanks Is considered as influenced
by motives scmewha, peculiar. An
oilleer of one OF our banks said this
evening.
@Shernlan gave all Of us cause Tor
complaint when nv gaye an extra com.
mission III hanks that male speculative
subscriptions. That was poor cnconr.
agement IL hanks that were acting
priilensly. When the First National
bank wanted 10 realize ON these bonds.
they got the price down TO | per cent.
premium, with per cent. of earned In.
tercst. Since they got the extension
from Sherman they put tho bonds up
tn I and I per cent. showing the value
81 them ii heing relieved from tho pay
ment I'll their debt to the Government.
Instead Of permitting the First National
Bank Ia play fast and loose with tho
Government, Sherman ought 10 have
kept faith with the other banks. and al.
lowed them 81 come In mud get some III
the 4 per cents. There wonld then
have been no need III granting IN extcn-
sion IL any bank; nnl when the Gov
eminent wanted It's money IL would
have got IT. As for Mr.. Gilfllan, he
would not take any part IN Shcrman's
scheme to favor tile First National
Gank. | guess hc would rather be
kicked out III there than not. lie ii
not afraid oi Sherman, and evidently
did net understand Shcrmans plan ii
favor tho First National Bank. or Ii,
wonll not hive drawn that si.OOo,00o
check.
There is no doubt that II Sherman
had hot stepped in the First National
liank would have been in tight place.
They would have been obliged 10 offer
their bonds. and mus, hnve broken down
the market. This would have been dis
nstrous. One peculiar feature 81 II Ii
TINT II the First National Bank had
come 70 eiief by its speculation in 4
per cents. its d.positors would have loA,
everything, because the Government Ii
preferred creditor. That wort u
gambling In banking should he prohih
tied ~ law. II IL singular TINT III,
Government, having charge II ON
national banks, should permit sncl
enormous operations hy small hank,
hike the First National bank. knowing
that il the speculation failed the result,
would be no disastrous. sherman Inn
been no partial TO the flrst National
bAnk In tho matter TINT II IL common
talk III the street. The attempt Il
make capital for tho Ohio campaign
fund out Of the Syndicate banks IN alsc
we'll known. Mr.. Shermans cxplana
ton Of his reason for giving M exten
sion 10 tho First National Bank vii
not bear investigation by those who
have watched tho course 81 events
III has, II least, narrated tho facts n
such way ~ 20 deceive tn public"
Have you any positive reason X
know that politics have been brought
10 bear IN tho placing of this 4.per.ccnt
loan by Secretary Sherman
"Ouly this just before the announce
ment WINS made that M extension o
time Ind been granted by Secrctar,
sherman tn subscribing hunks 10 IN,
l.per.cent. loan, member II the Obi,
Republican State Central COMMITTEE
called ON me, III connection with IN.
bank. for Il subscription 10 the Fostc
campaign fund in Ohio. asked viii,
he came 10 me- te said that HccrctAri
Sherman Ind directed him TO call OF
dcn. Iillhousc, and that he wcnld Civ,
him q list 81 hanks 70 call on lii this city
Gen. H.llhousc had given him the lin
III those banks which had subscribe,
70 tho 4-pcr.cent. loan, suggesting NJ III
ammo time that ont u their profit the,
could certainly afford 10 contribute"
.Was he successful In soliciting con
trihntionsYs
A1sh0 etnry In t,l1 Yon NAV drnv