The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-13


humor as witness Somerby was not at
baud. The court was kept waiting moro
than twenty minutes.
Mr.. Somsrby." said the Court. when
that important person at last arrived. I'VE
have been waiting for some time. You
knew the court adjourned until o'clock.
Yon must como here more quickly; next
time the court cannot wait for you."
Mr.. Harris continued the examination.
What day did the bank open it's door for
businessln
The first or second week in January,
1890 / DO not know how soon the funds CO
the Iron Hall were put into the bank.
They are In the custody of the supreme
cashier. i do not know how much was
transferred. 1 suppose Mr.. Davis opened
an account right away. do not think it
exceeded $4,000. The first real surprise
was In the mistake we mad made in the
purchase of the charter from the fact
that some one holding some of the stock
went to Mr.. Hayes and claimed that under
the contract certain portion OF the old
stock TO be taken up within cert ain
time after the bank wae opened. think
that was about six months after. Mr.:
Hayes notified me and also Mr. Davis. l
was led to believe there had been some
thing wrong about the original stock"
BOUGHT STOCK WITH DEPOSITS.
"Mr Hayes satisfied me by saying he be.
lieved that was all that would ever make
any trouble. and arrangements were made
for the purchase of it at the lowest POSI-
BILE price. in order to get il out of the mar
ket. Mr.. Hayes purchased the stock, about
$40 900. do not know what he paid for 1t.
n ~ - IL
bank. Another matter in connection with
the bank: At the time of the settlements,
when the money spoken OF this morning,
$40, 000-when The time came for il to
be deposited-Mr. Davis was there.
and had been there during two
two weeks and had no knowledge of the
manner in which they arrived at their
conclusion. 1 arrived on the day the
money was to be paid and the bank to be
graphed to Mr.. DAVIS on Saturday with my
consent. Williams and Hayes saIu to me
that something must be done, and MIR. Da-
Wis ought to be notified. They told me they
had said to him TO bring sufficient money
TO tide over the emergency. This was Sat
urday, Just as TIE bank was closed. At
that time it was thought SI50000 would be
sufficient TO meet the necessities. L think
Mr.. DAVIS took el500G0 or thereabouts.
The message was sent to Mr.. Davis on Sat
urday, and he was there on Sunday. Mr..
Davis said he was prepared to do what was
necessary.
THAT $4,000 WAS GIFT"
1--WE were told we could resume provided
we placed In the bank the amount called
for by the comm ssioner. $40. 900, to make
good the impaired assets. The resolution
passed at the Sunday meeting was in effect
that, inasmuch as we were compelled. in
ha fn hay oh
and this money was there, to accept il.
and that unless 1T was given it
would sacrifice the bank and the order.
We did not intend TO give il TO them, bu {
We took the responsibility of losing all con-
troll of 1t at that time. ! simply took the
condition as 1t was believed that if the
stock was made good that the amount
would be redeemed to the Iron Hall at
some time thereafter. Weintended to give
it If necessary. and it seemed to be
at that time. Some obligation to protect
Mr. Davis was drawn up. members agree
ing to bear any loss that might accrue.
aud for every one to stand by him ana
make good any loss. ] was not there: My
son-in-law Mr. Meachim. and DIR. Baker
| told me about it. / never saw the paper.
/ understand it was given to Mr.. Davis"
Was there any paper gwen to the Iron
Hall or any other person noticing the re-
| celpt of the $l7OC0lf
Nothing. to my knowledge by any one
to any one"
How does this s17o.Oco stand on the
books of your baDkf'
1t stands as entered by direction OF the
| commissioner in the manner which he pre-
scribed. / saw the entry when it was made,
| but cannot state the language"
What inquiry did the examiner make as
| to whore il came frOm!"
II did not hear him make any,"
THE DONATION" WAS KEPT QUIET.
"You stated yesterday that of the funds
of the Iron Hall there were about s7l3,OOo
in Philadelphia in bank. Does that in-
clude the Sl7O,OO09"
sit does"
when did you issue call to lay that
matter before the Supreme Sitting before
| this Suit was broughtf"
Il did not"
Was it stated in The Problem solvedr I"
''lt wasnOt."
How was this money got ont of the
| treasury
| "The supre ne cashier. of his own volun-
| tary action, acted In connection with those
with whom heiwas associated there. and
WAS there any voucher for this $780,
0OOi" ~
mot from me-"
DO you know of any other claim except
this that has been paid without voucher
| from youf"
II do not know that there Is. have al
| lowed MIR. Davis TO have q stencil, and
during my absence allowed him and the
accountant to use It."
whether the clerks have used it or not
| you do not knowp
II don't think they have ever signed any
warrants not authorized by Mr.. Davis or
| Mr.. Walker"
What business were you engaged in IN
| the fortnight when you were awayp
Il was attending TO matters of legisia-
tion in Boston and Albany. 1t was legis-
| lation necessary to protect the order from
losing it's legal rights in those States. BY
| instruction of the Supreme Sitting / was
| to prevent adverse legislation by my per-
sonal presence, and it was necessary for
me to be there to prevent 1t. l receiv ed
that instruction in 1891 and at oil sittin gs
previous to that"
Witness went on to say that it was neces-
ssry that persons friendly to the Iron Hall
are elected to the Legislature. He con-
tinued: I'VE had information at that
meeting (1S91) that at a meeting of insur-
aDce commissioners q resolution W as passed
| to introduce adverse Legislation against
our sy stem. Also, that the Fraternal Con.
| gress had passed resolutions. 1t Is an asso.
citation of benefit paying orders. We had
information that bills were to be prepared
and introduced in several Legislatures
| dentically tho same ana great effort az
to be made by q syndicate for the purpose
| OF wiping out this sy stem of protection.
deemed it wise and prudent to visit the
members and branches and arrange with
them for the purpose of selecting repre-.
sentatives at primaries and looking aftel