National Republican., 1884-06-19
A POOR PAIR OF BANKS.
Commissioner Edmonds Denies That He Was a
Special Partner Of SquieE
No Encouragement for Dcpositors Ia
Either the Middleton or squier Banks.

All WAS quiet yesterday at the squier and
Middleton banks. Mr.. Assignee Smith was
soen nt the former bank yesterday afternoon
putting the white clouds from fragrant
cigar. He had nothing TO communicate other
than that the restraining order served upon
Mr. Squier on Tuesday was modified yoster-
day by Judge Cox, SO that those in charge Of
tho affairs of the bank could control oil paper
maturing between now and juno 20, at which
date answer will be made to the restraining
order issued by the court.
"The order will delay tho making out Of
our statement" said Mr.. Smith, "as We can
do nothing at all until after the 23d."
Commissioner Edmonds denies that he was
q partner OF Squier & Co. He stated yester-
day TO o REPUBLICAN reporter that ho was in
no way connected with the concern, except
as depositor. Ilo acknowledged that he
owned n small safe in the office, which he
said contained his private papers. The safe,
| he said, was placed there about year ago, as
| his wife was opposed to having IL in tho
house, and ho had no other place to keep it.
Mr.. Squior had kindly consented to let the
safe stay In tho bank.
"Thero wero also" said MIR. Edmonds, "a
number of other small safes thore belonging
| to other parties. My safe is accessible only TO
| myself and neither MIR. Squicr nor any ono
| get into the bank safe At the time placed
| my safe there IL was we'll known that Mr..
\ Squier was borrowing money from his neigh.
bors, and l loaned him money on good
| securities"
"What kind of security"
Why pay vouchers of army officers and gov
ornment employees l had u largo amount OF
government bonds in tho safe, and thoy arc
| there yot. Mr.. Squior Camo to me shortly
after had placed my safe in his bank and
| told me that If he had any money to invost
no could mako handsome profit by Gdvanc-
| ing money on pay Vouchers at ten per cent.
He asked mo to advance money, which Ibid,
and / received in return the vouchers, and
| his notes for tho amounts represented.
When the Vouchers fell due MIR. Squer
said he would collect them and give me tho
proceeds. When he did collect them ho
asked me to take more vouchers and notes TO
cover the amount Instead of tho money. l
did SO, and in this way the amount of his
indebtedness ran up to probably $4,000, for
which still hold his notes and the vouchers.
About month ago / told him wanted to
draw out tho money for the notes and vouch-
ers. lie said all right and asked mo to
wait for few days whom he would pay the
money, although he said it would strain his
finances to do SO. l neglected to go, as my
business here employed all of my time. l
had no apprehension as to the banks solvency
and was surprised to hear of its suspension"
| w nhL WeTO IuO COubtulo VI 1OuT bdlO
"The notes given mo by Squier, pay
vouchers, private papers, and some jewolry.
| l was also the custodian cfsone money belong
| ing to ladies, who asked me to keep it. 1 loaned
this money on vouchers, and suppose shall
have to refund IL, amounting to about $1,000,
80 that the ladies will lose nothing. The
paper l have in my safe represents
in the neighborhood of $4,000. or
this about $4,000 is good, 80 that my
actual loss is about $4,000 or $4,000.
told tho counsel for tho assignee that in
tended to move my safe on Tuesday for that
purpose, as stated in your paper. When ar
| rived there found crowd OF excited men and,
| being unable to como to any understanding,
| left the place, and did not open the safe"
/ "Are any of Mr.. Squier's notes good?"
1--'-i du not know for hnye no knowledge
Of what his assets are. As for my safe being
| among the assets, there is no truth whatever
In the statement"
"What will you doT"
Nothing shall let the matter be decided
first in the courts"
"Did you pay any rent for the safe Z"
mo- Mr.. Squier kindly let me keep it
there"
Mr.. J. II. Squiers, whom seen, corroborated
tho statements made by Mr.. EdmOnds. He
denied that Mr. Edmonds was q partner in
the bank business. He had borrowed money
from Mr.. Edmonds in large amounts, and had
given him collateral security
| IN speaking OF tne Danh5 aualrsI Drs
Squier said that there were undoubtedly
heavy losses extending many years back.
my losses" he said, "began in 1870. My
house was mortgaged for $4,000 in 1873 and
for $4,000 in 1875, to Mr.. Gunnwell, of
Alexandria. As for the statement that l
intended to run away, it is ridiculous, for l
hove not money enough to take me to Canada
or any place else, if 1 wanted to co."
1t was learned yesterday that there would
probably be more detailed statement made
Of the affairs of the Middleton bank other
than was reported yesterday in The REPUB-
| LICAN, when the committee meets again,
either on Friday or Saturday next The
statement will include the list of he losers
by the banks failure The actual assets
mentioned in the preliminary statement will
pay about fourteen cents on the dollar, but
tho same legal questions involved may reduce
this percentage. The statement that the
books of the bank have not been balanced for
! ten years is thought to be true. A meeting
of the creditors committee was to have beon
hold at the bank yesterday, but 1t was post
| poned until Saturday.
| A horse attached to phaeton, containing
| two ladas ran away Mt tho corner of Eff