New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-31

ANXIOUS MEMBERS ALL OVER THE UNION
HEARD FROM.
MORE RUMoRs ABOUT Mr.. soMERBYS MUTUAL
BENEFIT OUATIoN-THE KEYSTONE
BANK OF PHILADELPHIA SAID TO
HAVE BEEN HELPED OUT OF
THE CONCERNS FUNDS.
rnY TELEGRAPH TO THE TRrBUNE.l

my TELEGRAPH TO THE TRrBUNE.I
Jndiananolis July 30-The application TOT the
appointment of n receiver for the Order OF 'ne
Iron Hall has created uneasiness In all par's OF
the Union and to-day hundreds OF dispatches were
received by the local officers asking Tor partlcuiars
and demanding to know the exact coudltioh OIL
the order To-day the gravest reports are cur
rent involving the funds which are, or oueno W
no in the hands of the supreme officers. 1t is
said that the funds Of the order We're depleted Dy
tho keystone Banks failure, in Philadelphia. and
that subsequently Mr. Somerby and Mr.. Hays
Withdrew over half million dollars from the
INDIANAPOLIS banks and deposited it in Phia-
dclpbia bank in which they are interested, and
which il said 10 be sustained 10 some extent by
funds of the order 1t is certain that the bal
anccs here have been largely reduced. The other
reports that the money went elsewhere to sustain
interests that were not the Iron Halls are not
as yet established.
Speakino Of the orders condition to-day Albert
Baker, one of the parties to the suit for receiver
said: There are several reasons given IN the ale
plication but the chief one, and the one whlch
prccptatcd our action, was this: Inc iron hal
carries cash capital of 81 100000 vi TINS sum
$500. 900 is kept here and 100000 in the East.
Mr. Somerby is vice-president of the Mutual BANK
inp Surety Trust and Safe Deposit Company Of
Philadelphia Soon after the financial furry IN
the East several months ago, caused by the failure
of the keystone Bank, S250,000 was removed from
the control Of the Supreme Council here ana placcd
in this trust company under the control OF Sr.
Somerby This information | received from cred
table source"
II is claimed by others that large sum or
moncy-exceeling 81 900, ,000-was deposited in To-
cal banks. and that between the first day of jan
. &l-an fotrf q
~ This money was withdrawn and sent ont of the
city One local bank, however, says that the
deposits have been materially reduced in the period
mentioned, but that the Order still has great
deal of money on deposit The deposits are made
in the name Of Mark C. Davis, Supreme Cashier.
The Order has not completed its report for the
six months ending June 80, and will give out
no facts relating to its financial condition until
this report is ready, which, the officials say, VIII
be in August
NJ Smith, the attorney who drew the COM
plant. said to-day that every material allegation
would be proved when the application Is heard
lie said that there was no check on Somerby, and
he had been drawing money from the Order al
will There is absolutely no check on him,
said blr Smith. lie is the boss of the entire
business, aud his word is law. lie sends IN, for
instance. warrant for $4,000 for expenses
He never makes any itcmized statement OF what
this expense ia. The other officers cannot refuse
n nav because the warrant is all regular, and
Somcrhy gets the money without question. Should
the officers refuse to pay, Somerby can discharge
them I am satisfied that the reason they don't
talk is the fear that Somerby will take their OF
fetal heads Off There is no appeal from him en-
cept to the Supreme Sitting, which meets every
four years, and lately there has been 20 meet
ing
Assuming that your charge OF reckless extrava-
cance is true, how much money do you thlhk
Somcrby has drawn
~Goodncss gracious don't know, and there
is no telling until we get at the books. We
cbarce hm with getting away with $4,000 in
one year but under the rules lie can draw all he
wants 10. and there Is no check on him.
How much money has the Order on deposit
here HOW? ~ 80,
Il do not know but it is over half million
dollars But only one-scventh of the amount
can be- drawn each year, and thus the Iunds are are
not available TO meet thc GAINS J ny ,nrs IrS
j. duc vet this year 81 ,jOO,O 900 in claims. How
are they going to meet it? | don't know and
that is what we propose TO ma out ,.,,-
Do You know of deposits being withdrawn
from any local bank since January ?'
We know that large SUMS of money have
been withdrawn from the local banks and sent
ont Of town. hut who drew il, where II went 70,
and if il is safely deposited we don't know; We
think "A good deal Of II went 10 Somerbys Phll1 :
dcphia bank but Of that We are not sure. II
wc can get hold Of him viii find out
The local officers were seen to-day and asked
for a statement. but they declined for the reason
that their annual report was not complete ana
they could tell nothing till 1t Is. a firm OF law
ycrs from Mattoon. H.. were here to-day o. look
after the interest of persons in that section There
were no proceedings in court to-day ana the case
will not be- heard before August !. SOmerDy
will probably be here by that time and will tcs