The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-12-30
AFFAIRS OF MR.. GALL
STATE TREASURER TURNS OVER ALL
HIS PROPERTY TO TRUSTEES.
The Loss I'm the Indianapolis National
Rank Was Too Much OF
burden.

afternoon transferred his property, both real
and personal, including his carpet and wall
paper store at Nos. II and 10 West Wash
ington street, to Adolph Seidensticker and
Frederic NJ. Bachman. trustees. for the
benefit of those friends who rallied to his
support after the failure Of the Indianapolis
National Bank. The transfer is an echo
OF that wreck, in which $4,000 Of the money
which Mr.. Gall deposited, went down. 1t
is thought that the property which Mr..
Gall turned over will more than cover the
debts to his friends. The trustees will con-
tinue the business and it is hoped that Mr..
Gall will some day regain possession of it.
At present he has made no provision for
himself, having sacrificed everyth for
those who aided him.
The transfer caused great deal of sur
prise to those who heard of it yesterday
and last night. The matter was kept very
quiet, however, so there were not a great
number acquainted with the transaction
The other creditors are few for Mr.. Gall
endeavored TO settle up outside accounts
before providing for his friends. No pro-
vision Is made, however, for any creditors
there may be. Should these few ask for
receiver the matter may result in some
litigation But the trustees are to con-
tinue with the business of the firm, as
Stunning obligations, it is not probable that
any complications will arise.
At the time of the failure Of the Indian
apolis Bank in July of 1885, and during the
subsequent disclosure Of rottenness it was
rumored that a considerable sum of the
States money had been on deposit there.
Mr.. Gall, as Treasurer OF State, was GUS
todian of these funds. He was questioned
at the time as TO the authenticity of the
reports, but he declined to make any state
ments: 1t developed yesterday, with the
transfer of his property, that there was
about $4,000 of money deposited by Mr..
Gall caught by the failure. By virtue of
the Office which he held Mr.. Calls bonds
men would be responsible for the loss.
Had the fact been published at the time,
Mr.. Gall no doubt would have been CEN
sured by many for trusting the States
money in such an institution. In order to
save him any discomfort which might re-
suit his friends came to him and kindly
offered to advance him a necessary
amount Mr.. Gall accepted this offer. He
hoped to be able to return this loan within
a short time, but the panic, which had al
ready appeared, struck all business with
a like fierceness, and Mr.. Calls business
suffered with the rest. But few days
ago he was heard to remark that his bust
ress was just beginning to show the
healthy condition which prevailed pre-
vious to the panic. He. saw it would be
so he made the transfer.
The friends who aided him are nearly all
Germans of prominence in this city. The
trustees decline TO give the Mares of any
of them. They also refuse to state the ex-
act amount OF the loan which they made
but they do say that all are satisfied with
the action of Mr.. Gall, he has been
strictly honorable in the matter, as he has
been in all his business dealings. Mr.. Gall
will leave the State Treasurers office with
clean record. and he has no accounts to
straighten. Had not his friends assisted
him at the time of the failure of the bank
he he would SiS have been compelled to turn oyer
some confusion and loss. He was a Victim
OF the failure, like hundreds of others He
trusted in the banks stability and believed
the States money was secure there. This
Is conclusively shown by the transfer of his
property yesterday.
Adolph Seidensticker, one OF the trustees
Mutual Insurance Company of Indiana, with
offices at No. % South Delaware street.
who ranks high swSfT IN BUSINESS aaa circ Ian
The other trustee Frederic Bachman. IS
president of the Electric Heat Regulating
of lumber mannfactory at a the p CORNERS of
Madison avenue and Lincoln lane. Mr..
Seidensticker was seen last night but he
amount of the property transferred to him
and Mr.. Bachman he refused to give. He
said it amounted to the same as sale. and
hoped TO be able to settle everything for
Mr.. Calls best interest. He would not give
the names of those who advanced money
to the States Treasurer, but said all We're
panied that Mr.. Gall had to turn over his
property. No record has been made OF the
sale as yet.
Mr. Gall was seen by a Journal reporter
at his home, No. $50 North Illinois street
Have you made an assignment" was
mo- 1 have sold my store to Messrs.
Sei6ensticker and Bachman. They are trus-
tees"
1t was evident that Mr.. Gall was deeply
had. He talked with apparent pain. and
asked to be excused from making any ex-
tended statements.
1T has been very hard for me to do this,
but / have done what thought right" he
said. 'It is painful for a man to turn over
his property-the work of lifetime. The
affairs of the afternoon are purely per-
tended remarks. The public is not inter-
ested to any great extent. Every dollar of
the States money will be turned over in
cash when settle next month"
at your present location?" asked the re-
porter.
At don't want to talk about it." replied
Mr.. Gall with emotion, and he asked to be
The words albert CALI have become
household ones throughout the State His
store has been one of the best known in
the city for years past. He has dealt in
and during the years he has been before
the public he has built up an enviabIe
reputation for honesty and integrity. His
store, besides being well known, is one Of
three floors at the numbers named for some
time