The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-12-18
BANKER POST SHORT.
A Small Deficit Discovered in
the Fugitive's Accounts.
BANKER SCHWARTZ SENTENCED.
An idaho BOY Accidentally Kills His
Brother-Trial Of the Sultan
City Murderer.

TAcoxA, Dee lz-ispecisi. Ito assure those
who have been lending ear 70 sensational gossip
concerning the condition OF the Tacoma Build
ing and Savings Association q result OF the
sudden departure Of its former president, Linus
E. Post, the statement IL officially made. now
for the first time. that MI. Post. while short
g. 100 in bis account with that institution fully
secured mis- Indebtedness By real property OF
over $4,000 in value.
Some time has been occupied in going over
the books of the bank in order 20 reach def
mite statement Before Mr. Post left he placed
in the hands of p. v. Caesar securities euflcIenf
70 approximately cover his indebtedness three
times over He could have settled this fndebt-
edness in cash. because IL Is known he hAd the
cash to do ii with. And If it is fact that he ala
draw 5000 in cash from d New YORK city insti-
tuition, as stated, then that was very likely the
cash which he could have used, and did not, In
covering his account with the Tacoma Building
and Savings Association.
All of the banks mortgages and papers had to
be gone over to fad out just how matters stood
By q shortage is not meant that Mr.. Pos. took
any of the banks money with him 20 New YORK.
His indebtedness came through his salary ac-
count principally. He drew against his account
and deposited notes with the bank for the
amount drawn. But before going away Mr..
Cesar, now president of the bank, held that
these noses must be secured. Mr.. Post aud Mrs.
Post accordingly covered the amounts with real
property, and the bank. it is officially stated,
was prepared by these securities for far greater
indebtedness Oh Mr.. Posts part than the books
actually show.
Caesar trust deed to her home the gossps
looked very wise and declared this was done TO
cover shortage IN ex-Presideut Posts accounts.
Even this would have been unnecessary. II true,
in face OF the checking-up facts, which show
Mr.. Posts indebtedness to be s.. 400.
The items constituting the shortage have
been accruing for over year.
A ievei-headed business man said tonight:
This matter has been handled judiciousiy and
properly by the Observation-Disclosures In the
FIRST place there was no reason to suppose Mr..
Post had in any way crippled the bank. Why
rumors that have been inflated from mouth to
mouth until they look alarming. bank Is n
very sensitive institution. You strike blow
At one bank and you fnjure them ali. L have
seen little sparks of rumors and sensationalism
cause great financial confiagrauon. Nothing
should be published but what can be proved,
and that 10 a very good rule TO be governed by,
in my opinion. Men at the head of bank must
be Of the very best class Of business integrity.
Mr.. Posts disappearance fs, OF course, mys-
ferrous. Why he went or where be went Is
mystery, but because of the fact that it is q
mystery, why make a great sensation OF ii. as
some OF the newspapers have done. especially
when by doing so needless trouble is brought
upon q banking institution.
George Vanderbilt paid sl65, 900 for the Pacific
National bank property. Ingenious gossps have
said Mr.. Post recommended the purchase, and
when Mr.. Vanderbilt was here he disapproved
OF il with so. 600 emphasis. That 10 to say, he
thought II cost $4,000 too much, and therefore
he had Mr.. Pos. removed from his bank. G. 1.
Holmes says:
There Is no truth in II, of course. Mr.. Cesar
originally had charge OF the sale himself. He.
in friendly way, shared the commissions arts.
ing from the sale with Mr.. Post. Mr.. Caesar and
not Mr.. Post would have been responsible. But
] know Mr.. Vanderbilt was pleased with the
purchase. know IL to be q fact When you
look into the matter carefully, you see the rum
ors disappear like soap bubbles pEieked.
MI. Post also borrowed few hundred dollars
ut the Pacific National hank shortly before 60
ing away, but he secured the loan with stocks
far exceeding the amount borrowed.