Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1890-02-01
REcErPrEp THEREFOR.

RECEfPTED T}iEHEFOR'
"Either the sane afternoon or the
following day, in n conference with
Cashier ColsOn, | learned that the
bank lacked cash means, aud he
suggested, and l concurred with
hun, that IL would he well to dispose
of from $500. 900 to $500, 600 worth of
high premium bonds and have the
cash therefor to use with the Gus
toners Of our bank. My intentions
were to raise the surplus Of the bank
up to at least $3.50, 000, and so be able
to accommodate depositing custom
ers. / stated to the cashier that
before l would sell any OF these
securitie. l would have to consult
with the directors, as well a. with
the gentlemen who owned ut least
so per cent Of the controlling stock
purchased, and l did consult with
Them. They also fully concurred
in the plan and requested ne to en-
trust the sale TO Pell, Wallack & Co.,
who received thereupon $50, 900, at
mar value, of these bonds to be sold,
for which they gave a receipt to the
hank, which I duly turned over to
the cashier.
subsequently col Of these bonds
were returned; $50, 600 In cash was
raid and for the balance Pei, Wal
lack A Co, gave cheeks; mostly certi-
fed, to the bank on last Tuesday,
January 18th, but the bank ex.
aminer, as well as the Clearing
House committee, declined to &C
cept these checks as payment Also
about $500, 900 Of these checks were
certified by the banks upon which
they were drawn. 1t subsequently
deveIoped that had they been sent
10 the Clearing House In the usual
course and order Of business, they
would have been paid. Ii Will be
seen that the banks assets were not
Used TO PURCHASE STOCK.
81 further desire to say that | am
not a director nor president OF the
Equitable Bank, nor am l such In
the Lennox Hill Bank"
All day long 1t was expected that
President Tallman would call At the
Equitable Bank and furnish the
$50, 900 necessary TO resume business,
but he did not appear and the doors
remained closed. Many Dispositions
called during the afternoon and were
told the bank would resume in a
few DAYS; that the affairs were all
right and II was merely closed be-
csI,se an examination was in prog
ress.
The examiners worked all day at
the Leunox Hill bank and IL was ex-
pected a statement would be given
out but 1t was not found possible to
tell anything about the work until q
late hour.
Late this afternoon, by an order
of the United States bank exami-
ner, all the remsining securities and
funds of the Sixth National Bank
were carried away from that institu-
ton and placed in some safe deposit
vault. Examiner Hepburn told the
reporters that he would prol ably
finish his work tonight, but would
make no further statement to the
press. His statement will he for
warded to the comptroller at Wasfi-
iDgton.
DURING THE AFTERNOON
the bank was besieged by deposit
tors, who were anxious about their
money. Many ladies' were among
them, and ali were told that their
funds were safe. Among the de-
positors are DIR. Carmedy, veterinary
surgeon; Shorty, the broadway
florist; Rudolph Aronson, Bill DAILY
and William Mcmahon. All Of
them expressed confidence In the
statement that their money was
safe.
A suit has been commenced
against the Lennox Hill bank in be
half of the depositors for a compars-
lively small sum.
When the proceedings in relation
to the troubles before United States
Commissioner Shields were ended,
George II. Pell was taken to the
United States Marsbal's Office tc
give his friends an opportunity e
secure bail. Among the friends
calling ON him during the day was
a man supposed TO be his brother,
Msjor Pell. Two others who hac
] seen the prisoner, announced Il