The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-07-31

Things Knefier Learned When I'm the ONCE
Its Deposits Here.
Mr.. A. r. Baker was asked what prompted
the three members to commence the action
and said, at was brought on account Of
certain information brought to their notice
from o credible source. to ascertain the
true condition of the order"
What was the source of your Informa,
tionp
"I would not care to say anything as to
that other than that 1t is thoroughly re-
liable.n
WAS Knefer the source ofyour informa-
toni"
Partly"
WAS the fling of the petition instigated
by Kneferf"
mo; it was not by him moro than the
others. believe Sampsell was the first to
speak to me about it."
When did you decide to commence the
actionp
ave talked of it for some time. ] don't
remember exactly when 1t was finally
agreed to begin proceedings. Idio not like
to do SO on account of the loss to the mem
financial condition of the order was. and as
the books have not been audited for some
time this was the only way we could arrive
at o satisfactory understanding Of It."
The petition alleges that $50. 900 was ex-
pended one year for pretended expenses.
Do you know what the legitimate yearly
expenses amount tor
No ! cannot say as to that. / under
stand Somsrby's private ex pense accountis
enormous"
1.-The petition also alleges that there has
been regular meeting of the executive
committee since 1890. How often does the
constitution and bylaws require the COM
mittee to meet!
Every year. believe"
"By what means could Somerby prevent
their meeting If he so desiredP
'Somerby controls the executive CON-
mittee, and of course if he controls them
he can prevent the meeting"
How does It come that the executive
committee is controlled by Somerbyp
Simply from the fact that he dictated
their selection"
What have you to say as to the allega-
tiOns of insolvency.
There are two ways of looking at that
question. One class of financiers would
consider that there was q certain amount
of money paid In and a given amount due
the present members upon what has been
paid In. Looking at it in this way the or
der IS insolvent. Another class of finan-
ciers would look at it that under the as
sessment plan, providing for all the assess
ments needed, the liabilities are TO be met
as they accrue. From this point of view it
would be solvent"
Which of the two ways menIIoned do
you consider properf'
The first Is the way banker would
look at it. and l think it is the correct
view"
What do you know about money of the
order on deposit In the banks of this city
having been recently drawn and sent
Eastp
Il understand about s25O, 600 was drawn
and sent East"
What amount of money did the order
usually have on deposit in this citv?"
Il believe from $500, 900 to 100000"
How much have they on deposit at the
present timer"
About $500, 900. believe"
do the constitution or bylaws provide
any method of enforcing the provision that
q report of special meetings of the execu-
tive committee shall be sent to local
branchesi"
Not that / know OFF,
AS the reporter was leaving Mr.. Baker
ventured the assertion that; mr.. Knefier
always felt that ne ought to take some
action because he knew of certain things
which did not seem to be exactly right"
When asked what it was that Kneher knew
he would not state specifically. He left
the impression, however, that Knefer mad
learned some things while in the office that
had caused him to bring the action.