The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1889-11-06
The Bradford Bank.

The Bradford Bank.
Two weeks ago the 1rgUS anil Patriot pub
lished cock and bull story of irrepulari-
ties in the Bradford Savings Bank Of losses
incurred and dividends that would he
passed. Only the too credulous, or the will
iugly gulible, or those who were unin-
formed rs TO its true inwardness, gave heed
10 the ArgUS ami Pdtrjofs sensational and
slauderous tale. In justice to the institu-
ton and the persons ASA allied we repubiish
from the Br0dtord ODjBioD the principal
parts OF its correct statement. The OUiDio1L
says; Heretofore we have submitted to all
kinds Of abuse and Islander at the tr0,ts dHd
PATRIOTS hands The editor, Hiram Atkins,
had forfeited all claims to journalistic cour-
teSy, or even deCenCy, years before we ens
tered the field of journalism in Vermont.
ne had been compelled at the point Of the
| bayonet to cheer the flag of his country
and TO retract vile Islander under the sting
of the lash. He was known to be an arrant
coward and backmailer: the friend and ca
| Joler OF the rich and powerful, the enemy
of the poor and weak who were unable to
defend themselves from his malicious as
sauts. Can we be censured for feeling I'M
| willing to enter into controversy with a
man with such reputation well founded?
Scores OF times has he threatened to use
/ the whole influence of his paper not only
against individuals but communities for
the sole purpose of bulldozing them into
/ his servile support. When this
scurrlous paper sent its special repres Mt
! alive to Bradford week before last he did
not interview any one connected with the
| bank management. but got what few points
| he had from person who was turned out
/ OF the bank directory years ago. and whose
| Judgment in financial matters mot the best
at any time is totally unreliable at this
| time, biased as it is by his enmity towards
the institution and its prominent sup
porters."
OF an alleged unauthorized loan on in
sufficient security, made by the treasurer,
and of Editor Parker's relation thereto. the
| opinion says: This bubble is punctured
! by the following official statement:
The loan on Hotel Look OFF. Sugar
| Hill, Is one OF the best loans the bank has
! The loan was never over $4,000. on which
| sem-annual interest has been promptlv
| paid. 1t is insured in staunch companies
| by local agents for S27 800 Under the valued
| policy insurance law of New HAMPSHIRE.
! all which policies are now held by and pay
! able TO MS. All the part Mr.. Parker had in
| negotiating the loan was in introducing the
| proprietor, Mr. Noyes, to the officers of the
| bank. (Signed) Z. o. Leonard, assistant
treasurer; George w. Chapman, presidents
! E. L. Smith, viCe-presdent.
Following is Mr.. Arthur's statement.
The ArguS of last week published an article,
purporting to come from its special cor
respondent, in regard to the Bradford Saw
ings Bank and Trust Company myself and
| friends, which is full of malicious iusinua-
which it emanated is very easily under
| stood and not at all surprising to me- as it
only follows the course that the Arqiis has
! used in opening its columns for the use of
| few in Bradford whose object has been to
| pull myself and some of my friends down. if
! they possibly could do So but Mr. Atkins
| and his coHtrereS in Bradford NAV find out
| that they have overstepped their preroga-
| tive. Regarding the statement about the
| hotel at Lisbon, y. H. either the special
] nnnHpnf u al lore
not he well posted, to say the least, as the
! whole thing is false. True the bank holds
loan on some hotel property, but not at
| Lisbon, which was taken after careful in
quiries and examinations by the president,
Mr.. Chapman and myself, and considered
at trustees meetings. The trustees knew
all about it, several of them have been all
over it, outside and in and consider it per-
| business through Mr. James S. Warden of
Kansas City, he is the largest stakeholder
of the bank, as he bought and owns the
stock turned over by Messrs. Day, McDuffee
| x 20. on their retirement, and, of course,
| holding such "A block of stock would nat
urally be anxious for the success of the
bank. Besides, the bank holds Mr.. War
dens guaranty for large amount, to pro-
tect them in case of loss on any of the Sc
curites negotiated through him, so that
do not see how any loss can accrue to the
bank by or through Mr. Warden Some
slight loss may occur through the National
Exchange Bank Of Kansas City, in which
this bank holds some stock subscribed
for after mature deliberatiou by the trus-
tees, but the loss Will not be flea bite. The
correspondent, or his emissares, also speak
of my living extensively, which is too petty
to notice, as all who know me and mine un-
derStand. | owed the bank on some paper,
signed by myself. Mr. Chapman and others
which was perfectly good and is now paid,
SO that | do not owe the bank dollar.
Mistakes | may have made, as | confess
am not machine-and who does not make
mistakes but If any they were errors of
judgment and not of intention. The inSin-
uation about some of my friends leading me
astray and in regard to loans and overdrafts
is childish, and the intention is perfectly evil
dent. Any one who has done business at
the bank knows full well that in business
matters | neither knew friend or foe, jew
or Gentle, but treated all alike, in
straightforward, business manner, as nv
record shows in the business that has been
worked up, the dividends that have been
earned and paid and the surplus now on
hand. Notwithstanding all the false SLAM
ders and insinuations have the conscious
ness of knowing that / have done my duty
to the bank, its stockholders and depositors
as well as the knowledge that the citizens of
Bradford and vicinity have entire confidence
in the bank, its management, as well as my
! self, with the exception of a few men whom
all despse, and whose sole aim and ambi-
ton in life seems to be to pull down decent
! | cltZtnS 10 lutlT own ulIlN level kSlSutu)
George p, Arthur.
The argus and Patriot of last week had
the following: 4" The last issue of the Brad
ford opinion says that the Bradford Saw
iugs Bank and Trust Company will pay No
vemher LIST a four per cent dividend on the
capital stock but the state inspector of
finance saws he has, in accordance with
power vested in his office, directed that
that institution shall pay no dividends until
its affairs are IN different shape than they
/ will al .ub ba
> opinion or the inspector of finance knows
best
The opinion published November / says:
1.-THE Bradford Savings Bank begin to-day
TO pay their semi-annual dividend TO stock
holders OF four per cent"
Coming 10 the points of real interest, the
opinion says; "What the citizens of this
community wish to know, first of all, is:
Has the capital of the Bradford Savings
Bank and Trust Company been impaired
by losses already made, or is il likely TO be
: impaired by subsequent losses on loans in