National Republican., 1884-06-14
WHERE is THE MONEY F.?
1t Was in Squiors Bank Just Before the
Doors Closed
Nut II Mysteriousiy Disappeared when
IIU aIndo ~ Assignment.

Some rather startling information concern
ing the failure of squicrs bank was obtained
by REPUBLICAN reporter last night lt was
stated that one of the largest depositors heard
certain reports regarding the financial stand
ing of the bank four days before the doors
were closed. IIo went to Squier, represent
ing besides himself several other dopositors,
and made inquiries about tho banks coudi-
tion with the temark, 81 think l had better
take my money out" squiors S response was
81 am as sound as rock l have taken
in over $500 in the way of deposits
to-day and have only checked out about $50.
| do n safo business and there is no possibility
of u failure. There is enough money in my
safe now to pay the claims of every depostOr
Beside this own u house on X street which
is unincumberod aud worth $4,000" Squier
then begged the gentlemen TO examine the
securities and money in his safe and exhibited
several large drafts received that day. AS
the depositor had known Squier and his
family for several years aud always believed
him to be an honest man, he took his word
for the soundness Of his financial condition
and made no effort to withdraw his money,
Four days later Squier closed his bank doors
without any outward indication of there being
q run" made upon him. He assigned every
thing TO his confidential clerk without speci-
flying in tho assignment single itom of the
property assigned. Still stranger than all
this, Squier received heavy deposits on the
day he closed A citizen of Washington
named w. w. Gould is said to have deposited
$3.50 in his bank an hour before the doors
were locked.
A widow, who does not like to have her
name used at this time, is said to have de-
posted $l,650 Oh tho last day the bank was
kept open. It was money she had received
- Al Il .N..l
her entire fortune. Mr.. Gould has since been
in the bank. lie went in the day after tho
failure and swore that he would either kill
Squier or thrash him" If his money was not
returned'
Since his failure squier has represented
that he had no money, and has made n
number of conflicting statements about the
resources of the bank. 1t is q significant
fact that he has retained as counsel Judge
Jere Wilson, lawyer who is not in the habit
of giving his services for nothing. IL is o
question in the minds of many why he should
require counsel unless no desires to protect
the funds Of the bank against legitimate
claims.
Tho deposits made in squier's bank will
foot up larger amount than is generally
supposed A congressman from Michigan
had $4,000 in the bank; certain retired
admiral had $4,000, and n number of depos-
itors had over 81 900. Tho Michigan member,
1t is said tried to draw his money out last
fall, to put it into tho cattle business but
Squicr succeeded in persuading him to
leave it in the bank by paying him 2 per
cent. month interest
Squiers family are all well-to-do people in
Connecticut and Vermont.
There is q movement on foot among the
depo5itors to have regular receiver ap-
pointed to supplaut Squier's confidential
clerk, Jay b. Smith. They do not doubt his
honesty in the least, but have not the slightest
guarantee that their interests arc being pro-
tectod.
The depositor who was shown the securities
in the safe four days before the bank closed
is very much surprised to hear that Smith
reports that he found no funds in the safe the
day after tho failure. This Is regarded as
especially strange whom it is considered that
deposits were made on the day of the failure.
"Can you approximate the amount of liza
biities and assets within from 81, 900 to S2O,-
| 900 of the amount?" asked II REPUBLICAN
reporter of Assignee Smith yesterday sfter-
| noon.
~ am working on the assets now," camo
the reply, "and as | have not touched the
liabilities yet, that would be impossible, and
besides l do not think it would be right Mr..
Squiers is helping mo every day and will
have n statement ready as soon as possible"
Referring to tho published report that
deposits had been made Mt the bank on the
day Of tho failure Mr.. Smith said, mo such
entries appear on the books" =