The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1880-01-08
THE WHARTON SAVINGS BANK.
Statement ofan Oaeer.

THE WHARTON SAVuNCS BANK.
Statement ofam O0eer.
| read . great deal in the papers
about the large fortunes accumulated
by officers Of savings banks, and similsr
institutions, at ths expense * deposit.
os. Now, this !. q mistake. snd to
prove ]! | will give you a short history
Of q Savings Bank with which | wss
connected 4 short time ago.
Mr Reuben Psttisrew. Colonel Solo
mon. Martin Youus, Tinslry Godfrey.
and myself started a Savings Bank III
the village oi Wharton. oimmops
township, in this Stale, last March, q
yesrsgo. Mr. PettiRrew was President.
Col Martin was Vice President, and
young Godfrey and myself were Sec.
retsry and Cashier. For Q time the
institution Aourishsd. Thcrc had never
been Savings Bank 10 Wharton. and
The people put in our hands oil The
money thcy could rake and sersps to.
gether. They wanted to put ii where
The thieves could not get at it, and
they wsnled the interest. There was
no doubt about their thorough under
Of the advantages Of the insti.
tuition Our bsard Of Directors Wa
Of The richest aud most re-
spectacle men in the village, and this
gave the people confidence in us, which
WAS perfectly natural and right. Men
came to us from farms fifteen and
twenty miles away. and such ws the
general disposition to deposit that ws
thought We were about 10 make per.
manent success Of our Savings Bank.
But We soun discovered our error. For
example, Mr. Pettigiew. who had q
fstu just outside of the village became
tbst II be COLD buy q thresh.
ioc machine he could not ouly make il
pay 10 threshing his own whest and
bats, but could make money by hiring
II to the neighbora s. hs came down
to see US about il. There we're two
in Wharton that NJ Peltigrew
could buy on reasonable terms, but one
oi them was Z hundred and tn dollars
more than the other. Mr. P wanted thu
best one, - was natural. but the fest Of
US concluded that ~ tho institution
va young j: would hardly be just to
his fellow officers 10 let him buy the
most expensivs msoains. at least not At
that timo. 10 hs got the cheap one.
Now. see bow this turned out. Mr
Pettisrsw did not do half the work
with his machine that be could have
done il be had bought the other one.
and he calculated that be could have
made. II We had lot him have oil tEe
monsv he wanted. from three 70 four
hundred dollars more than be did make
latter selling tho mschius u the end Of
the season.. Of fconrss be WAS dissasis-.
fed, ior he bad expected much better
things ef the bank.
And there was young Gcdirsy'a case.
He WAS going to marry Mary Martin,
The Colouels second ldsughtsr, aud b.
was very anxious to have Z goed, com.
Portable house provided before the wed.
ding took place. There was . vary
nice place 1t the upper end d The VII
lase. near tho township live. that hs
could get on very good terms, but hs
would have to pay I've thousand dol.
lars down, So that fell hs came 10 soe
10 about II. No wonder be VA anxious,
for II vas one Of the 6ness hoases il
Whsrton. and the land Wa tAs very
best. The fruit on that place would
bring in several hundred dollars . year,
/, Ny nothing oi anything else,
Well. ws tonside cd The matter, and
ws were oil willing 70 do our lest By
him, especially Col Martin, vhs W.
naturally interested 10 The mater q bic
daaghser would live 10 the house II Il
was bought. Bu. wc found that Oh 10
could do vas 70 let hin have four
thousand dollars. You GO, Col Martin
had had bis barn shinslsi. end : sss
kitchen built % biz hoass, and thal
drew pretty heavy On The bank. Aud
then my expsnsss vera perfectly enof.
nous that summer. What with newly
furnishing my house. and getting !
buggy hnilt (with steal tires aad both
pole snd shsttsl and buying . horss to
mstch nv sorrel mare. | bad T. call on
the bank for . good many thossssd
dollars; and = our President NJ %
cut up about bic th,eshing machine. 70
had felt obliged 70 lot him hsve 1 ld Of
railroad stock that " had Invested in
y that be might hare chance 70 turn
i over two OF thres times, and make
something that wouh ssse his mind :
little. Nov, its eAsy to srs that oil
this canls heavy on The bsnk. and Il was
impossible to let young 0odfry have
uoss than four thousand. But W
told him lhs. II be could 60 around
and induce anybody to deposit, b.
should bs perfectly welcome 20 thu
money. Of course nahing oald be
sairer than that. b BE- went about and
did biz hsst. He pennsdsd several
people. sls, had ben : li,tls taet sard
at 6rs.. 10 put their ,uaney in The bank
bat sll he could raise this wsy did y \
arount TO nors than twO huadrsd dol,
lars. Thea he beshoaght hi~seif of on
Nra Harris. uhe kepl . trimming stSst