The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1892-08-18
GAVE CASH TO A BANK.
How Funds of the Iron Hall Were Given
to a Philadelphia Concern to Prevent
It's Going Into q Receivers Hands.

How Funds OF the Iron Hall were Glven
to a PhiIadeIphia Concern to Prevent
It's Going Into Receivers Hands.
INDIANAPOLIS, Ind, Aug 13.-Su-
preme Justice Somerby was on the wit
ness stand in the Iron Hall receivership
case during the entire day Friday and
was subjected to rigid examination,
which brought out all the facts
regarding his connection with the
order and the methods adopted to save
an officer, and in which so much of the
orders money is deposited.
On the point as to the assets of the
order the supreme justice testified that
the order owned the building in which
the offices are located in this city. lie
thought it was probably worth $50, 900.
He testified that he did not know what
securities in the wav of bonds the Or
der owned. 1t had not invested in any
bonds or mortgages since he had been
supreme justice. The orders money had
not been loaned at interest and had not
returned any profit. He said there was
at the present time under the control
of the supreme sitting $1,000 600 in
cash. lie was asked as to where the
money was deposited and he said he
thought about s5lS,O 900 was deposited
in indianapolis banks. He said $71S,-
900 was transferred to his bank in Phil
adelphia.
Mr.. Somerby then admitted that
Company (his banlS) of Philadelphia
was en- barrassed last April he used
Sl7O, 900 of the funds of the Iron Hall to
avert, as he expressed it, "the wreck
age of the Iron Hall through the bank. :"
The witness was asked number of
questions regarding the different funds
in the bank. but he appeared not to be
well posted upon its affairs, his only
| information being such as he received
from others. He finally confessed that
he had had trouble with one of the
directors, and since that time he had
not been near the bank. He was
asked if q warrant was drawn for
| the S170, 900 that was given to the bank,
and replied that it was not, but con-
fessed that the constitution required
| warrants to be issued for all sums
drawn from the treasury.
INDIANAPOLIS, Ind, Aug. 13.-The
subcommittee of the Iron Hall, which
has been engaged for some days in
making an examination of the books,
has finished it's work and made a re-
port, which it Is claimed is authentic
The portion .of the report show
ing the financial condition of the order
is as follows:
! Benefit fund-Balance on hand,January 1892,
| sIO0H, ,5181l Received from assessments, ST.
2l9 $50 60; from reserve fund.- S1fO 61SO2 life di.
ION, sS,:OoC0: division No. 3, A150745; total
$3.50, ,5S3 7S. DisburscmentS-6,5 So sick and dis
ability claims. S3lA, ,6sJ Al III death benefits,
s52, 122 50: l,i35 final dividends, ,033 ;I65. 90;
| total, Il ,396. l3 9l. Balance on hand in benefit
| fund Sl.1:4, 4G9S1.
| Reserve fund = Balance in hand of banks, in
Guiding al accumulation to August /, ,5j2 i9S,
| 81: reserve in the hands of the supreme cashier,
| sI4S, ,43l. 35: total, 81 800, 92499
| General fund-Baance on hand December 81,
1881. sl5,l 81: reccirts to August 1, 1892, S70,-
| S3l lG: total, sS6 lO6 l3 Disbursements War
| rants from l,l3l 10 1874, s63 l66 73 Balance in
| general fund, S2222.93l 40 improved real estate,
| nt Il in al