Wichita eagle., 1890-02-01
NO WRONG INTENDED.
President Glassen, of the New York Sixth
National, Makes Statement,

NEW YORK, Jan. 31.-At about noon to
day well dressed man walked into ker-
mans news agency on Broad street. He
had shrewd but disagreeable face. He
was apparently about A years old. He
announced himself as Peter J. Classen
president of the Sixth National bank, and
told the group of astonished employees that
he had statement to make. He dictated
the following, after which he calmly walked
out Of the Office:
ITO the public-As the president of the
Sixth National bank of this city, l desire
to make a statement that | deem due
to my family, my friends and myself II
is not true that | WAS member of the
the syndicate that purchased the con-
trolling interest in the Sixth National
bank. 1t is not true that | made any loan
10 myself in said bank On the contrary,
have checked on my other personal bank
accounts in this city and have deposited to
my credit in the Sixth National bank, and
have checked not one cent against it. 1t
is due to my friend, General James l..
Jordan, for me TO say that he consented to
become a director in the Sixth National
bank at my urgent request. He has not
tended any meeting at the bank what
ever. He, finding from his engagements
that he would not be able to go so far up
town when needed, sent me his resignation
on last Tuesday. The same may be said
with regard to the position of Henry C..
Cutler, with the exception he is Mr.. Sims
friend instead of mine, as General Jordan
was mine
The first time saw Mr.. Leland was at
the bank on January %. when certified
checks were rendered to him, and accepted,
amounting to $500. 900, (which he turned
over the control of the stock of the bank.
The checks were deposited by him in the
Union Trust company and were paid.
Hence, | was not member
of the purchasing syndicate. All terms
had been arranged and agreed to before l
meet him. Afterward. this payment being
satisfactory to Mr.. Leland, he procured
the resignation, seriatim, of the old board
of directors, and as they resigned the new
toard took their places. Thereupon Mr..
Leland rendered his resignation as presi
dent and l was elected unanimously in his
place.
"On the morning of the 23d, by an
agreement with Mr.. Leland, met him be-
tween 10 and II o'clock, a. M.
at the National Park vaults
where he turned over to me the
securities belonging TO the Sixth National
bank, and /, finding them correct, re-
ceipted therefor. Either the same after
noon or on the following day, in conference
with the cashier, Mr.. Colsen, learned that
the bank lacked cash means and he sug-
gested and | concurred with him that it
would be well to dispose of say from $780,
000 10 5000, 900 worth of the high premium
bonds and have the cash therefor for the
use OF the customers OF our bank. My in
tentions were to raise the surplus of the
bank up to at least S250,OO and so be able
TO accommodate our depositing GUS
toners with ease to ourselves
and with convenience to them. | then
stated to the cashier that before | would
sell any of these securities / would have to
consult with the directors as well as with
the gentlemen who owned at least so per
cent of the controlling stock purchased.
and did so consult them. They also fully
coucurred in the plan and | was requested
10 entrust the sale of these bonds to Pell,
Wallack & Co, who received thereupon
$50, eco par value of these bonds to be sold
Tor which they gave their receipt to the
bank, which | duly turned over to the
cashier. Subsequently POI of these
bonds were returned: 500, 5000 in
cash was paid and for the balance Pell,
Wallack & Co. gave checks, mostly certi-
fled to the bank on last Tuesday, January
Is, but the bank examiners, as well as the
the clearing house committee, declined to
accept these as payment. About $500, 900
OF these checks were certified by the banks
on which they were drawn. 1t subsequent
lv developed that had they been sent TO
the clearing house in the usual course and
in order of business they would have been
paid. 1t will, therefore. readily appear
that l had no proceeds from these
bonds; that l did not ac-
count for and checks thus far
not covered by Pell, Wsllack * Co., are
- t,n Il / l..
VIII also be seen that the bank assets were
not used to purchase the stock. l further
desire 10 say that | am not a director or
vice president of the Equitable bank. nor
am such III the Lenox Hill bank
7. j. CLASSEN,
President Sixth National bank"
All day long it was expected that Presi-
dent Tallmau would call AT the Equitable
bank and furnish the $500, GOO necessary to
resume business. but he did not appear
and the doors remained closed. A great
many depesitorS called at the bank
during the afternoon and We're told
that the business of the bank would be re-
sumed in a few days; that the affairs of
the institution were all right and that IL
was only closed because of examination.
The examiners worked all dav at the
Lenox Hill bank. No statement has been
made as 10 its affairs When the afternoon
had nearly passed the doors of the Sixth
National bank were opened and Mr. Col
. sen. accompanied by three clerks and a
policeman, stepped forth. They carried q
number of old valises and canvas bags. The
bags contained the remaining securities of
The bank, which were being carried to some
safe deposits by order OF Examiner Hem
burn. He sent word TO the reporters that
he would probably finish his work before
morning aud would make no statement TO
the press, but he would Immediately for
a-d IL n ha
Washington.
Lawyer Henry ". Unger has COM
menced suit against the Lenox Hill bank
IN behalf of deposltor for compare
lively small sum
George II. Pell was taken 10 United
States Marshal Jacobus' office this after
noon to give his frien DIS an opportunity to