The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-28

His Brother Returns from the Sick
Bankers Bedside and Talks Freely.
Drink Habit. Acquired Through q Prescription.
Responsible for His Failure-Will Go to
Milwaukee When BE Receivers

Mr.. Thomas G. Day returned last night
from the bedside of his brother. Frederick
L. Day. of whom so much has been said
lately. but would give no information as
to where his brother is at this time. stating
that has physical condition would not war
rant his being communicated with at pres
emit Concerning the affairs of his brother
Dir. Day said:
1.-The matter is all simple enough. My
brother has been doing about the largest
ioaning business in the Northwest, if not
the largest. The late John Plankinton
and my brother close friends
during the formers lifetime. although
Mr. PlankInton was his senior by
many years, and at one time went
to my brother with the proportion
that they start bank. Mr.. Piankinton
proposed to build the building. and my
brother was to run the bank. He was not
disposed to take hold of il. and asked my
advice, and i advised him not to do 1t. as
be bad already as much as he could attend
to. In addition to his loans he had four ad-
dltions to the city OF Milwaukee. all OF
which were large and profta able ones. He
was not Speculation. The several enter
prises In which he had engaged had been
conservative and successful ones, and the
people of the city had the utmost conf
dence in his enterprises. The bank, how
ever, was organized, and my brother was
elected first vice president and manager.
He was also large stock holder. ad ding to
his possession from time to time until he
had accumulated 800, 900 stock.
Some years ago he had an attack or tho
grip. and when he recovered was addicted
to the use of stimulants. HIS hyslcisns
had prescribed stimulants regularly during
his sickness. and the habit for strong drink
was contracted at that time. He had been
directed to take a glass of milk with
whisky In 1t, to correct insomnia. The
doctor received knowledge that he was
drinking TO excess. aid demonstrated with
him. bnt my brother laughed at him. and
assured him that he was mistaken. He
drank more and more. and am quite sure
that his business suffered cOrrespondingly,
through Lis lack of Judgment as well as IN
attention to his affairs.
This Lappen. of Lappen IL Co., about
whom so much has been said. was not n
FRIEND of 4. 1. Day. but was brought to the
bank by Plankinton. ana introduced as q
tenant, occupying one of his largest build
ings on the West Side, and he recommended
him as the brightest business man In Mil
waukee. Plankinton asked that he be en-
couraged. My brother and the directors of
the bank. therefore. permitted Lappen q
large line or discounts, and while there Is
no excuse for the business methods in
volved in lending Lappen SO much
money. yet the Piankinton bank
of others had done before it, in
putting more money into q bad investments
for the purpose of saving that which they
had already invested. Lappen seemed to
ton to the S29O0Oo loaned him by the
Plankinton Bank, other banks and capital.
lists of Milwaukee loaned him $4,000.
These men who loaned him these amounts
of this enormous sum the Plankinton Bank
is secured by every thing Lappen o. Go.
own. including their book accounts.
lat the time the bank closed my brother
and ply sioians had been looking for it
months before, and had been per-
suadIng him TO 60 away and rest.
Among other places West Baden was
suggested. His physicians decided
that he was too i'll at the time to leave.
Ten days afterwards he was taken away.
and he was accompanied by nurse. who
renamed with him day and night. &c was
decided that 10 was necessary to place him
under different surroundings and he is now
in the care of specialists. who treat him
for both his mental and ply steal troubles
have been with him several different
times during the last few weeks. and some
times he does not recognize me. and he is
ply sicians tell me he is not In a condition
to talk about business, and will not be tor
three or four weeks. As soon as he 10 in
proper condition. he will proceed NJ once
to Milwaukee"
''It is true that your brother has made
an assignment
"Yes; on the failure of the bank. to pro-
tect his large estate. taken in connection
with his IncapscIty, he made an assign
ment of all his effects for the benefit of his
creditors to William Momsen. formerly
cashier of the Plankinton Bank.
There has been nothing covert in our
action" continued Mr.. Day. I'VE have
registered at hotels together by our right
names. He has been secluded that he may
not be annoyed"
HAS your brother been large borrower
of the bank himselfi"
Yes he has. and that is one of the evI-
dences of his i'm paired Judgment from the
use of intoxicents. But he defends himself
on the ground that he had put up cOllater-
al to the amount of S450,000 OF first-class
security. and the bank holds it to this day.
1t has been stated that the meeting of the
grand jury in Milwaukee precipltated my
brothers departure which Is not true, as
arrangements had been made for his re-
moval long before. and his going had no
reference to that BODY