The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-17
WALKER TALKS RIGHT OUT.

Thinks . Receiver Should and VIII He APP
pointed for the Order,
Supreme Accountants Walker. of the Or
der of the Iron Hall, was asked yesterday
afternoon by Journal reporter what effect
the appointment of receiver for the bank
will have on the Iron Hall order.
1T means goodbye to the Iron Hail."
said he. "A receiver will be appointed.
The attorneys and others who went to
Philadelphia were to have been back here
BY tomorrow "wednesday morning. when
the case was to have been taken up again.
but IN the morning q continuance for an
other day Will be asked. as the
attorneys will not get back un-
til Thursday morning. l do not
believe another witness Will be placed on
the stand. 1 think the evidence of Mr..
Somerby and tho preliminary statement
before the court. made by Judge Howe.
were sufficient grounds for the appoint
ment of q receiver. It's awful It's bad
state of affairs. Here Mr.. Davis and my
self have had TO stand, during the past few
weeks. all kinds of abuse because. 1t was
claimed. we had given more informa-
lion TO the plaintiffs In the suit than to the
defense. said to Mr.. S0merby: If the
affairs of the Iron Hall are being con-
Quoted honestly. 1t Is not going to hurt
anybody to give out information about
The order; and If 1t Is found
that dishonesty is chief factor
IN running the affairs it Is the proper time
for an honest man to get MP and say so.'
My Office and the books of my Office are
open TO the inspection of anybody, because
they are all right"
do you know the amount of the liabil-
tiles of the Mutual Bank of PhiladelphiaW
No 4 do Wolk
injured air. II know. however, that there
has been placed In the bank S720000 of Iron
Hall funds, while the bank only has the
order credited with about $4,000 Now
Of q receiver. l suppose the stockhol ders
will have to make the deficiency good. and
that whatever per cent. is required to
make good the amount due the Iron Hall
W the bank will be levied on the stock.
md In the Iron Hall building fund, and
suppose | will have to 60 out and hunt .
did the Haughyille branch to-day de-
Dand the amount of its reserve fund In the
''Oh. no." said Mr.. Walker with shake
Df his head. They can't do that. You
zee they turned their reserve fund over in
lots for rs TO invest, and if they did de-
,ut of the investment. The money doesn't
belong to them-it belongs to the order,
md they are simply the trustees of the
fund.-
About this time tho reporter and Mr..
Walker were joined by q member of the
Iron Hall who proved to q stock holder III
the Mutual Bank. He holds $4,000 paid
up stock and seemed to be very much per-
turbed.
What do you think about the failure
Of"
"Oh d-n that banklD was his dis
gusted and unceremonious reply.
eff get q chance to go on the witness
stand" said Mr.. Walker. IL will have few
things to say. / Will give some idea about
how this order has been run. With the
Royal Arcanum Order or the Knights of
Honor any member can look at the books
and information about the condition o. the
order is sent out to the members from the
looks after such things"
From what q Journal reporter ascertained
yesterday, from a reliable source, it was
known here not only by the member of the
executive committee of the order but by
the attorneys. as early as Saturday. that
the Philadelphia bank would make an as
Bignment. A member of the executive
committee said yesterday, when asked
about the bank failure: "Oh that's no
news to Us; We knew about that last Sat-
nrday."
1t is believed that this knowledge on the
part of the attorneys was what caused the
sudden breaking off of the trial Saturday
and the subsequent trip to Philadelphia.