The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-09-07
PRINCE RUssELL's REVENGE.
Seeking to Hurt New York Bank for
Refusing y Loan.


ST. LOUIS, Sept. G.--The Globe Democrat
of this city publishes the following special
dispatch from New York: Edward b.
Lacey, comptroller, came from Washing
ton last Saturday. Few persons know he
WAS in town, and not until to-day was the
purpose Of his visit made known. II had
to do with the Western National bank. and
brought out a curious story about Russell
j. Harrison, son of the president OF tho
United States. This story dates back few
months. Young Mr.. Harrison wanted TO
borrow money, and he called on Gen. Louis
Fitzgerald, president OF the Mercantile
Trust company, in the Equitable building.
He offered Gen. Fitzgerald certain collat-
eral, consisting partly OF western railrond
securities, for the loan he wanted. The
general looked over the securities and de-
cided not to make tho loan. This did not
please yonng Mr.. Harrison. Two days
later he called again President Fitzgerald.
and they had conversation, part of which
was like this:
Mr. Harrison--You are director in the
Western National bank, general?
Gen. Fitzgerald-Yes.
Mr.. Harrison--Don't you know that the
Western National bank is issuing silver ceF-
tificates contrary to law.
Gen. Fitzgerald-I am only director in
the bank. and cannot speak for the bank.
Mr.. Harrison--W Well, all that can say to
you is that the bank would not be permitted
to do II II attention were called to the fact.
Mr. Harrison did not obtain the loan
from the Mercantile Trust CO 'ppany. How
he came to know that the ,'';stern Ma
tionals silver certificate business was a
matter which the comptroller OF the Cur.
rency had at that time under consideration
no one knows. II was learned that in Feb
- 81.
CATION Of charge chat the Western Ma
tional we're issuing silver certificates con-
trary to the provisions of the banking nct.
This act forbids any national bank from
guaranteeing the transactions OF any out
side corporations or Of any individual. II
The complaint against the bank was in effect
| that it was issuing silver certificates
against bullion which was deposited
in the vaults Of the Mercantile
Safe Deposit company, also in the Equita-
BILE building. So secretly has the investi-
did not come out until to-day. The people
who made the charge to the comptroller in
sisted that the bank was guaranteeing the
payment of these silver certificates when it
had no control over the bullion against
which the certificates had been issued. Tbs
in the vaults of the Mercantile Safe Deposit
company, these vaults were leased BY the
bank and were in charge of the banks en-
ployes. The Safe Deposit company also has
representative in the vaults, but no bull
ion is delivered into or taken out without in
the presence of representatives of the bank
as we'll as of the Safe Deposit company.
The Safe Deposit company takes half Of the
profit for the storage of the bullion and
that is all the interest it has in the bullion.
The bank people, it was found to-day, knew
Of the visit of Russell Harrison to Gen.
Fitzgerald. They did not wish to speak of
it, but it was evident from their attitude
that they were not afraid Of young ME.
Harrison.