Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1880-10-27
THE BOSTON LADIES' BANK SWIM
DIE.

DIE.
Boston, October 19.-The proceedings
in the Supreme Court, to-day, when the
woman's bank was up, were very inter
esting. The question came UP on an
order of notice requiring the respondents
to show cause why the injunction should
not be made permanent and a receiver
appointed. Evidence was heard on the
question of whether or not the so-called
bank was trust The only witness was
Susan A. Crandall, the cashier, who has
not been arrested; and her testimony
tended to throw additional light on the
fraudulent character of the concern. She
said that she had been employed as gene
raj clerk and book-keeper by Mrs Howe
for a year, filled out the body ofthe notes
given depositors but never signed the
name Of J. A. Gould to any of them;
couldn't give any idea of the number Of
depositors. Mrs. Howe also said she had
sufficient means to pay all the depositors.
On an average from $4,000 to $4,000
was received as deposits, and one day,
$4,000. Mrs Howe did not tell me
what she did with the money, and [
don't know what she did with it. The
money came so fast that I did not have
time to count it, Mrs. Howe gave me a
package of bills and some gold, and I
paid it all out the last day | was there.
[ have had a good deal of conversation
with the depositors. Mrs. Howe has not
seen all of them. She told the depositors
they could deposit any amount from 5000
to 81 900, and receive 8 per cent. for it.
She did not say how it was invested, but
they could receive their principal at any
time when they were sick or at their
death. Mrs Howe has told me they
could have their money on demand, and
they were told SO both by me and Mrs.
Howe All | have heard about benev-
olent fund being left by Quakers was
what Mrs. Howe told me. She said it
was 81 100000 Mrs. Gould, the agent,
who is in Jail, communicated that to the
depositors at times, just as Mrs. Howe
told me. Mrs. Gould knew nothing
about it beyond what Mrs. Howe told her.
Mrs. Gould is widow, and came to the
bank after did. | never heard of any
fund but the Quaker fund. The deposi-
tors often asked how we came to pay 8
per cent. interest, and | told them [
didn't know; but the money was always
counted out to them. [ don't know any
thing about Mrs Gould's saying that to
depositors, but they could have the same
bills returned to them, if they chose.
Don't know if the money was invested,
or anything about how it was disposed
of. The interest paid out during the day
was kept on slate, and at night was
transferred to a book, but was never
footed up, because Mrs. Howe always
gave me money enough to pay with
Mrs Howe told me twelve responsible
men backed the institution, but l don't t
know anything about it. Men were
generally excluded from the business
| transactions of the bank The result of
the newspaper articles caused US to make
the enormous payment of $4,000 day,
when was called away by the death of
my brother, and on my return the house
was in the hands of the sheriff. Nobody
was ever defrauded of a dollar while |
was there. Before [ was called away by
my brothers death had orders to shut
down on the principal. No inducements
were held out for people to deposit, and
we knew nothing of them until they ap-
peared at the bank. Two branch agen-
cies were established. I kept memo
randum on piece of paper of the
amounts I paid out every day and gave
it to Mrs. Howe. Don't know whether
she kept any books or not; only know
of one book, and that kept Mrs. Howe
called me cashier" and also "bookkeep-
err" but never instructed me in my duties
and never had any experience beyond
keeping my own private account. On
almost all the books that are out the in
terest has been paid. The number of
books was increased.