Griggs courier., 1892-08-19
GAVE CASH 70 4 BANK.
now Funds 81 tho Iron Fan were Give.
% PhiladelphiA Concern - Prevent
1ts Going Into . Receivers Hasads.


1ts Going Into 3 Receivers Hands.
IND1ANAPoI1s, Ind. Aug. 1a-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 q rigid examination,
which brought out all the facts
regarding his connection with the
order and the methods adopted to save
the bank in Philadelphia of which he il
an officer, and in which 30 much Of the
orders money il deposited.
On the point as to the assets of tho
order the supreme justice testified that
the order owned the building in which
the Offices arc located in this city. he
thought it was probably worth $S5. 600.
He testified that he did not know what
securities in the way Of bonds the or
der owned. It 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. He was asked as to where the
money was deposited and he said he
thought about $51s, 900 was deposited
in Indianapolis bauksss He said $7l3,-
600 was transferred to his bank in Phil
adelphia.
Mr.. Somerby then admitted that
when the Mutual Trust and Banking
Company (his banl<) Of Philadelphia
was embarrassed last April he used
$l70,0 200 of the funds Of the Iron Hall to
avert, as he expressed it, s'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 IT warrant was drawn for
the $l7O, 600 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. f.-The
subcommittee of the Iron Hall, which
has been engaged for some days in
making an examination of the books.
has finished its work and made 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 handuJanuary 1882.
81, ,005, ,5lSH. Received from assessments, g..
so9 $50 co. from reserve fund. sle0 0els0s; life di.
vision e, 10000: division No 8, S41,5o745; total
s2,520,5s37s. Disbursements-6,52 sick and dis.
ability claims, t3lo,6s641; III death benefits,
sbs, l225O; 1,436 final dividends, Il l,o33 365 90;
total, Il ,396, 81. Balance on hand in benefit
fund o., 1874 4O9.87.
Reserve fund-Balance in hand Of banks, in.
cluding all accumulation to August 1, u, 1893.
81 reserve in the hands Of the supreme cashier.
tl4S 43l. IS: total, 81 SOC, ,9e4.9a
General fund-Balance on hand December 81.
1891, el6. 6.174G; receipts to August l. 1892 So.
ssl.l6; total, ts6,lo613 Disbursements-War-
rants from 1l5l to 1874, s6s 16a7a Balance in
general fund, s22,os4 70: improved real estate,
t3S,0O0 Total assets Tin all funds), e. es6 27A 2a