The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-03
SOMERBY TALKS FREELY.


Says the Suit Is Uncailed for, His Bank IL
Solvent and the Order as Sound as q Dollar.
1t was 1890 o'clock p. NJ. before Mr.. Som
erby found time yesterday to say any
thing to newspaper men further than the
announcement that he had nothing TO say
made early in the morning. At that hour
his friends on the executive board were
just convening in his back Office for their
caucus. and Mr. Somerby talked much
more freely than is his wont. He was first
asked concerning the suit brought in Phil
adelphis. yesterday, by Edward Buckholz,
trustee of one of the local lodges. Ii was
suggested that possibly that was the first
step toward protecting the funds of the
order deposited In the Philadelphia bsnk.
Il think not" replied the Supreme JUS
tice. "That suit. about which 1 know moth
ing more than have seen in the evening
papers. was probably brought by some fell
low who was frightened by this clamof
about receivership. There was no need
for fright. however. The order has plenty
of money. both mere and there, to protect
ell its liabilities. If his claim is thirty
days old, we'll pay it. of course; If 1T Is not.
we will not. We never paw final claims
until they are thirty days old"
ut is stated in Philadelphia" began the
reporter, that the Mutual Banking.
Surety, Trust and Safe Deposit Com pany lost
S1O7, 900 by the Keystone bank failure -"
"Yes," put In Mr.. Somerby, but it was
impossible to tell whether this should
be taken as an admission of the truth Of
the proposition or simply the ordinary
fv;n hot afa
stands q question.
And" continued the reporter, "that 20
least that much. if not more, of the Iron
Halls funds were transferred from In
dianapolls to repair this impairment OF the
banks capital"
THAT is rumor." replied Mr.. Somerby,
land l am not responsible for what is ru-
mored. The bank is not connected with
the Iron Hall. There 10 quite O large de-
posi-: of its funds there / do not know
how much; the supreme cashier can prob
ably tell you that But 1t Is well protect
ed. / aiu stockholder in the bank. and,
though L do not transact it's business, 1 am
confident that il is entirely solvent and
able to take care of any depOsitors It has.
And" he continued, earnestly. ''the or.
der Is as sound as a dollar. 1t has plen-
ty of funds right here to meet everything
that will come up for year. This sult for
a receiver is entirely uncalled for, and, so
far as L am able to see, 1t seems TO proceed
largely from personal causes"
1T has been suggested, Mr.. Somerby,
that this suit originated high up In the or.
der, and that Its purpose is to oust you.
presume such q suggestion has also reached
your earsp
Yes" he replied thoughtfully, "but not
from a reliable source. If any one should
want my position there are easier ways to
get it than by putting the order in jeopardy
and endangering the interests of seventy
thousand people which very act would dis
qualify him for the position. 1t doesn't
look reasonable. does itf"
DO you care to enter any denial of the
personal charges against you In the appli-
cation for receiverf"
satisfactorily, and i would rather try a
pending case in the courts than in the
newspapers. and by this L mean no dis
courtesy TO the newspapers l have been
with the order ten years. and have been
the moving spirit in building it up from al
most nothing to what IL is to-day. and
think its members will be satisfied TO wait
until the courts investigate any charges
against me"
MIR. Somerby. it has been rumoreu that
the suit for receiver was brought in the
hopes that n large number of policy hold
ers would allow their policies 10 lapse and
the order would be the gamer in that ce-
gree"
Almost before the question could be
asked Mr.. Somerby began to shake his head
and said: Il have spent ten or twelve
years In building this order up, and IL is
not fair 10 suppose that | would risk my
reputation In scheme of that kind.
You readily nee. too, that it
would not work. In a furry of this kind
il is the man no has In from SIS to $40 who
SAYS Il Will not risk any more The man
who has $500 or s4OO IN the institution and
who would be the man from whom
the order would receive a financial
benefit should he allow his payments
TO lapse, simply folds his hands and says he
will risk a few moro dollars with the or
der. So far as the Order of the Iron Hall
is concerned, it is perfectly solvent All
the matured benefits are paid mp to
date, and there is $4,000 in the
banks here To pay any benefits thai
may fail due later. cannot SEQ on VIZ