St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-01-19
ABOUT THE AMERICAN
Some Timely Remarks of a
Somewhat Personal
Nature.
A Few Prominent Minneap-
olitans Express Them
selves
Regarding the Mueh-Abused
Management Of the Ameri-
can Building & Loan.
A General Change Of Tone
Among the Associations
Would-Be Wreckeps.

Since last Tuesday the most bitter
enemies of the American Building and
Loan Association have been considera-
bly, more reserved in their expressions
| of opiniOn-at least in public. While
| the very most has been made Of what
little estimony was given against the
concern in the investigation into its
affairs that day in the governors Office,
men generally seem to regard that Of
fetal inquiry, even though it is not yet
completed, as having put the American
before the pub ic in better light than
ever. ANY other result would certainly
have been very unnatural, not to say
startling. The public is slow to recog-
| nlze merit in any concern where there
| is strong. organized, systematic effort
! to besmirch its reputation. But in this
! case faith has remained mistaken on
| the part OF the vast majority of the stock
| holders; and when the enemies of the
American are etfectually routed at
| every point, as they unqueStionably will
| be III another week, this famous con-
Germ will double and triple the number
of its patrons. The attacks so far have
simply served as very slight check
upon the incl ease of business. Nothing
more serious.
When GLOBE man approached a
gentleman of high standing Friday aft
ernoOD, and pOintedly asked his idea of
the Americans affairs, he replied: II
have 10 objections to saying what [
think, but would prefer not to have my
name mentioned. for good and sufficient
reasons. Hurd'S testimony in thatln-
veStigatiOn the other day was no surprise
to me. | refer to that portion of it
relating to the rumors about the reor-
ganization OF the company, with Ball.
Farwell and Walker as the chief high
dignitarieS. Well. that wasn't a cir
cumStance to another bold, bad scheme
that was concocted in the fertile brains
of certain well-heelpd clique, and
which is not yet entirely abandoned,
heiieye. This was nothing more nor
less than villalnOuS plot TO wreck the
American, as far as possible, then to
use their ready cash in buying up the
stock, scattered all over the country, at
few cents on the dollar. 1t was
brilliant idea-one, indeed, worthy
of Ives. the young NAPOLEON of
finance There were millions in it,
ana if once the pool could secure the
appointment of their man as re-
ceiver, they had everything their own
way. Oh. ii was a great plan!
As to the manner in which the as
soclati0n'S affairs have been conducted,
L cannot say much, though l am we'll
acquainted with the president, MIR.
Bishop, whom | consider as honorable.
conscientious man as there is in this
city to-day: That's all-good-day."
The next call was upon j. T. Wyman.
eX-president of the Minneapolis Board of
Trade. His ideas were expressed in
most Qnrnfnl
though they were we'll defined.
"All / know of the investigation
is CHAT read in the papers. A to the
past management of the concern. L
must say that the Rundell-Sproat ad-
Illustration was bad thing for the
stockholders. and the present manage
ment deserves much credit for defeat
ing its purpose. am a stakeholder in
a rival association, conducted on the
savings bank plan. The officers of the
American | believe to be all honest,
efficient men, and were | a stakeholder,
l would place full confidence in the
management. / also believe they will
be completely indicated in this III
We tigation."
c. E. Braden, cashier of the Metro
pOitan bank, was questioned, it being
understood that he was well posted on
the subject. What he had to say was
given unreServediy, as one who c0nSd-
erS himself right i'll his convictions. and
would just as soon the world knew his
opinion as not.
From the published accounts said
MI. Braden, at doesn't appear that the
state is doing anything more than clear
ing the association of the gIaye charges
made against it. None of the alleged
cr1okednesS has been brought to light
yet, that L can see. What Hurd said
about the reorganiZing scheme engi-
neered by Hall, Farwell, Walker & Co.
was common rumur about town.
''The association has been subjected
to two very critical examinations by Mr..
Kenyon, and his report seems to be
very favorable. In regard to the Off
GERS, [ have to say that | |
have known j. II. Bishop for a
number of years. socially aud
in business way; and there is not q
stain. not a blemish OH his name. His |
honesty and integrity is well known.
The new officers are as we'll and favor |
ably known. The new management is |
dong good work. There is little room |
for complaint. The matter seems to have |
narrowed down TO fight against Mr.. |
Bishop"
G. p Lowell said he knew Jas. II.
Bishop well, and considered him, as he |
always had, good man in every re-
spect. Of the new treasurer, John l.. |
AmOry, he entertained an equally good |
opinion.
l.. Kimbali. of the well-known print |
ing house bearing his name, said he was |
a stakeholder in the American, and had !
the utmost confidence i'll the honesty !
and ability of the present management: |
was satisfied that they would handle !
til associations business as it should |
be.
F. A Smith, cashier of the City bank, |
said, in substance: MIR Bishop has |
been here long time, and has always |
borne IA good business reputation. He |
is considered an honest. reliable man." |
Byron Sutherland, the Well-knoWn at
torney. spoke with no uncertain sound. |
when asked what he knew:of the officers |
of the American. Il have known James |
II. Bishop ever since he came to Mime |
apolis, both in social and business |
way, we being neighbors most of the |
time. | consider him square, honest, |
straightforward man, of more than or |
binary business ability"
The last man interviewed was DR.. f. |
a. Hutchins, who gave Mr.. Bishop a |
very strong personal Endorsement: |
mime years Intimate acquaintance with |
Mr.. Bishop as his family physician en- !
ables me to speak knowingly of him as |
man, though l am not posted at all on |
the affairs of the association of which he !
is president. 1t is hardly possible that |
a man Of his moral stamina and fine |
principles would lend his time and |
energy to the furtherance of any bust |
ness that was not strictly honorable. |
Moreover, one of Mr.. Bishops most |
marked characteristics is his utter con- |
tempt for anything that might DE termed |
'underhand.' And in those qualities |
which command the respect of good |
men everywhere, James II. Bishop has |
no superior in my list of acquaintanees, !
and am very glad to have a chance TO !
say so publicly
N0rr, l1a;,, D0,6-u-15