Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-06-18
THE SQUIER FAILURE
commissioner EdnOnds Explains His
Connection With the Bank.

connection With the Bank
THE SMALL SAFE IN rHR ,lNkrNa HOUSE PRIVATE
SAFE BELONGING TO THlCoNAIssIoNER-HIs MONEY
TER MONEY AT TIN cKRcENT.
meeting Of the creditors OF J. II. sauier & Co
was held at the bank yesterday afternoon for the
purpose OF taking steps prevent any transfer Of
property by MI. Squier or Mr.. Smith. When the
meeting had organized III. W. A. Cook. as attorney
for several OF the credtrs stated that he had to-
day filed a bill asking that the transfer be re-
strained until receiver or the bank was regularly
appointed, that the couE had granted the prelimi-
nary Injunction, and thai notice had been served
upon MT; squler. 1t vas at once decided that
nothing further was to be done, and the meeting
adjourned without taking any action.
statement was male that Commissioner Ed
monds was present at tbs meeting and attempted to
explain to the the reason why he
had right to remove spnvate safe belonging to
MIN, but that his explanation was cut of by the
article then went on to allege that Mr. Edmonds
was partner in the cOacern.
Nh. EDMolDs EXPLAINS.
Commissioner EdmoHis was at his ONCE in the
District buildings this morning. looking as placid as
usual. His attention VAS called by STAR reporter
what was said by hm,t meeting of some OF the
creditors OF Squier & Co~6rokers He said he had
not seen the publication referred to.
The paper was produced, and he said 1t was true
that he owned a small safe in that Office and pro-
ceeded to state that wien he commenced to build
his house on street, Ome four or more wears ago
Tor convenience he bought safe to keep his private
papers In Mr.: SquierSas a neighbor OF his, and
his wife Directing to h1ng an iron safe kept in the
friend Mr.. Squier, to keep it In his office, and he
has kept 1t there ever nce all of his old papers are
there and articles OF silver and papers belonging to
his wife. Mr. Squier mr. no other person had any
access to that safe no me ever had except himself
ana no one had any rialt to openit but himself Mr..
squler had come to Inn several times to borrow
mr. av frnpu
at ten per cent per annlm. Mr.. Squier had repre-
scented to him that could purchase vouchers,
pay accounts, &C, to advantage, but he could not
spare the money from his regular business, and he
saw good opportunities slipping away from him
every day on accout Of the want OF money.
per cent for the use of money to enter
Into these transactiAs, and these notes were
now locked up In tbs safe When Mr.. squier
wished to secure him frther than by simply note,
he would give him De vouchers he purchased,
which were all placed by him Edmonds) in this
MI Squier was on the verge OF bankruptcy, and
was surprised few das ago to read in the papers
that he had closed hisdoors His wife called his
attention to in the afternoon papers after dinner
He remarked to her tha he would have to go down
there and take his safe away.
when went to tle bank" continued Mr.. Ed
mOndS II told MIR. Smith that would like to look
into the safe and see Nat was there and arrange
for its removal He sal that Shellabarger and Will
son were ge and that had better
my house, and showa him, as far as could, the
papers relating to my Transactions with squier. l
to squer as loas, and these showed
the amounts of the oans. Sometimes the loan
amounted to 1900, aIa sometimes more / had
FUNDS, and that l NUT have good security. For
this reason he had frequently given Inc pay vouch-
ers. AS explained toiIr Wilson. part OF the con-
tents OF the safe was puchers and part squier's
notes should think hat the total amount rep
resented was about $4,000 A month ago l told
Squier,' remarked theCommssoner, in a sort or
| n
matters and that he must give me my money, as
wanted to invest 1t ELSEWHERE. He told me that If
Withdrew my money hat he would have to lose
some OF his customers. md he did not want to do
that. He said, howeve, that he would take up his
notes In few days win pay vouchers, and prom
ised to give me $4,000 ncash by paying $1,000 per
month. l neglected to 70 to his Office for twenty
days after that, and bythat time a run had been
begun on the bank, ati squer had really been
paying off his customer with my money"
"Well," remarked thu Commissioner ''as was
saying. explained to n. Wilson. and he said that
Ss ma ad sbat Re o plain ana M
understood, might inDrm MIR. Cook, who repre-
rented some of the crditors l did so, and told
when the eaepts could be- examned
and list OF them nade last evening, II so
desired. When reaaed the bank yesterday 1
found large numberD Of people there. said to
Mr.. Wilson: Wilson, tbs seems to be town meet
ing. They are going elect a chairman, and Or
ganize for the purpos OF taking charge OF Mr..
Squiers affairs. havf no interest here except as
one Of the creditors al so, without saying more
left the bank"
"What are you all gong to do now?" asked the
reporter
81 don't Know" was he reply. 81 have not yet
determined. l want have no misunderstand-
Ing"
"Does the safe belonao the assets OF the bank?n
continued the listener.
mo more than the shes on my feet" was the
emphatic response '"hat safe is private property,
and when get chane want to look over the
papers and see how mum have lost. think that
1t Will be several thouand dollars. Everything in
the vouchers above he 10 per cent goes to Ii
quidate the principal.
Mr.. Edmohds laughd at the idea Of his being
partner OF Squier, and aid that he merely loaned
him money, as he woul{make any investment
MR.. sQUIER cORRoBoRAls COMMISSIONERS EDMoNDs.
A STAR reporter fulAd Mr.. j. H. Squier at his
residence at noon To-Day. IN reply to inquiries, he
cOrrObOrated Commissioner EdmOndS' statement
that the safe and coitents about which there is
some misunderstanding among the creditors, are
the exclusive property OF MIR. Edmonds, having
simply been placed on peCial deposit with him by
the owner for cOnvenieEe. In regard to the state
ments OF partnership relation between Mr.. Ed
monds and himself, MrSquier said that there were
no such relations, acknowledging, however, that
he had borrowed moey In large amounts from
Mr.. Edmonds, and hal given him collateral secu-
rity. While cOnversiy further upon affairs con-
nected with the suspeBion OF the bank, Mr.. Squier
said that there were undoubtedly heavy losses run
ming back many yeaH
II don't intend run away" said Mr. Sauier
II haven't money enelgh to take me to Canada, II
ha wanted togo vii be here to stand whatever
UcidllS NIL tNlVcI luTGilCT SUaUpQ JlaU
losses began In 1870 when he was doing large
business, and was absent from the city by sickness
when he lost heavily The house he lives in Mr.
Squier said, he mOrHaged for $4,000 in 1873 and
for s. 900 in 1885, and 10Th Of these mortgages are
held, and have been faIyears, by Mr.. Gunnwel, OF
Alexandria "There fas nothing wrong in my
transferring the pr0erty to him. as some sun
pOSe," said Mr. SQuid. "He practically owns the
property, and can sell at Will The deed OF trans
fer was only to avoiC The expense OF such a sale.
No one can take thepDperty from him"
REAL OBJE(r oF THR SITIT IN F0rTrTy
filed yesterday by NJ. I. C. Crawford agt. j. H.
Squier by Messrs. COX & Cole, and Mr.. A. C.
Commissioner Edmons did not constitute the
SEQ" of the concern AID FOR the present his safe
will be locked up. Tbs morning a COPY of the bill
was ordered by Mr.. N.Wilson, who Will appear for
Mr.. EdmOndS.
The Queer of the Waters.
THE NATIONAL RIFLEsVIsIT To LAKE MINNETONKA-
SOMETHING ABOUT !HE NEW RESORT IN THE
NORTHWEST.
Correspondence of THE fvEN1NG STAR
HOTEL LA FAYETTE, IKE MINNETONKA, June H.
AS Lake Mnnetonksend its surroundings are so
little known In Washington brief description may
not be out OF place. Hidden away in the forests OF
Minnesota are numeroS SIN all lakes, and the most
lovely of these is Lake Minnetonka, "the Queen of
the Waters" This Rautiful sheet OF water lay
forgotten and neglected until a few years ago.
when the people seema to wake up to it's possibili-
ties Handsome cottages and splendid hotels
sprang into existence IKE magic, and to-day the
shores OF the lake are Dtted with trtumphs OF the
architects skill Hotl La Fayette (where the
Rifles are the invited uestS is one Of these. 1t
and at that time everyne laughed at the s'folly:"
but since then, on account OF Its success, large