The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-20

Answering Leading Question.
nished for use to protect the bank against
loes. It was Mr.. Hsyes's position that IL
was given to the directors TO be used for
the benefit of the bank. He takes that po-
sition to make the bank solvent"
The witness then went back to the bank
trouble of last April. He spoke of a roso-
lution that was read at directors meeting
held at that time.
"You testified that before Davis came
somebody autographed for him to come
with funds: who was thatP
Mr.. Williams i told him TO do so on
Saturday and Davis came on Sunday ut
noon. Never asked how much funds were
to be used. 1t was supposed when he was
sent for that the bank wonld open immrdi-
ately aud when he came he WAS prepared
for the financial arrangement to make as
an individual matter or in any other way.
asked some questions in the meeting.
My answers were not satisfactory and
from that time L took no interest in the
meeting on Sunday afternoon"
The resolution Was then read by Mr..
Harris 1t was as follows:
Whereas, There has been an impairment of
the capital stock OF this corporation resultngin
the taking possession of the affairs of said
poration by the superintendent or Banking; and,
Whereas. The counsel OF this corporation in
prOcee dings pending at the instance of the Com
inonwealth in Court of Common Pleas, No. 2, of
Philadelphia county, expressed the ability of
the stockholders OF this corporation to pay into
impairment of its capital, upon no other condi-
ton than that there should be an issue of shares
OF capital stock Of this company, fully paid not
greater than 1000 shares OF the par value OF $50
each
Resolved, That we do accept from the stock
holders OF this corporation the sum or $l7O.O00
as a contribution to make good the impairment
OF capital and that, In consideration of this con-
tributiOn, said stockholders shall be entitled to
hold no obligation or Indebtedness of any sort or
kind, right or claim against this corporation,
saving that this corporation shall be considered
as being entitled TO Issue and maintain as issued
four thousand shares OF Its full paid stock OF tho
par value OF 500 each.
"Who spoke OH the resolution
mo one. 1t was all prepared. 1t was
read by Mr.. Hayes or Mr.. Stockwell and
then adopted"
ibid Stock we'll approve of the propriety
of the proceeding or condemn 1T"
sToCKwELL KNEW ALL ABOUT 1T.
There was no comment made. He made
no objection. 1t was moved that it be
passed, and it went right through. The
bank examiner was in the building, and
Immediately on adjournment Stockwell and
Hayes went down stars and had an inter-
view with him."
1T was known that it was Iron Hall
money, no matter here it ca'ue fromT
Yes, sir."
did Mr.. Stockwell know of iti"
dealings with Mr.. Davis. / understand the
resolution was drawn by Stockveli."
WHO Informed you'll"
MIR. Glazing, Mr.. Baker, and I am not
sure but Mr.. Hayes spoke Of It,"
The Davis paper was then read. It was
as follows:
Whereas, The Mutual Benefit. Surety Trust
and safe Deposit Company has been closed and
| taken possession OF by tie superintendent of
Banking of Pennsylvania, on the ground of i'm
pairment of capital; now the undersigned
| members of the supreme Sitting OF the Order OF
the Iron Hall do hereby declare and assert that
| Davis, supreme cashier of the Order OF the Iron
| Hail, TO advance or loan for the time being, I'm
| order to put the said banking company in good
| financial standing. the sum OF $500. 900. and we
request that the sum be put In the possession of
]. Henry Hayes, secretary and treasurer OF said
| banking company, for the use aforesaid. And
we do each of us hereby agree to assume our in
dividual hare OF responsibility for the said act
of the said NJ. c. Davis.
In witness whereof we have hereunto set our
| hands this tn day of April 1892,
AMOS II. HosMER. 8. " j. tSup. Vicejustice.)
L. W. ROUSE. S. Il. Sup Trnstee.)
J. II. ECKERTr, Chairman Finance Com.
JOSEPH GLADlNG, Chairman OF Laws.
c. II. BAKER. NJ. d.. s. NJ ID. Supreme Medi-
J. HENRY HAYES, secy. Sup. Trustees.
Received the above amount. 5000, 900. April
| q, 1892. j. HENRY HAYES,
Secretary and Treasurer.
Witness went on to testify that DAVIS
said. 'fou are in the hole. boys. and l will
help yon ont"
"How did he propose to do iti"
"He said that was his business. md that
| It could be done without any trouble. and
! all coulG be made right. / then ceased my
| inquiry. During the meeting it was agreed
| that Stock well better 60 and see the COM
| missioner. He did SO, and reported that
| the commissioner said If the bank raised
| the money he would allow it TO open the
following morning. Then left the city.
| confidently expecting the troubles were
| over. Mr.. Davis said he could arrange for
any amount necessary that Williams asked
| for. Williams was bond clerk. i knew
| Davis was going to use Troy Hall fuads,
| and every body in that meeting knew It."
| Including Mr.. Stockwell"
"Yes. sir"
soN-IN-LAw FROZEN OUT
Mr.. Somerby continued: II attempted
TO interrogate the meeting as to the position
the Iron Hall would be placed in, and Mr.
| Davis said if he had anything to do with
it the Iron Hall would not be mentioned in
it. Stockwell was there, think. when Mr.
| Davis mentioned this Hayes DAVIS and
/ myself talked about McMeachim's reslgns.
| ton. That was in our own social meeting
! two or three hours before. Both Davis and
Hayes met mo very abruptly that morning
| on my appearance at the bank. and treated
mo with q great deal of discourtesy; FOL
what reason did not know. They imme.
diately began TO state that before they had
| directors meeting they wanted some con
cessiOns from me-. and Davis said he wanted
to yet rid of Monica CHIN on the executive
committee. and that must offer his resig-
nation and appoint some one else right
then and there"
why did he say he wanted to get rid OF
hmf"
1T is not very pleasant matter; IL is O
| matter within the order. He accused him
of loading the bank with securities that
had given them y black eye in the
| md hat hau n a nj ~ nj nm
nble. Davis had reference TO the kansal
| fu houda. Ian ha a.