The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-05-15
THE BANK EXAMINER.
Mr.. Jameson Tells What He Found
IuSt uefare The Enailure

just Before the Failure.
The first witness called Ia the afternoon
session was John p. Frenzel, president Of
the Indiana Trust Company, receiver of the
cabinet company. He said he had been in
the banking business for twenty-seven
years and was acquainted with the manu-
featuring establishments of the city, Tut
knew nothing of the Indianapol Pow
Company as an operated concern for the
last three years. He said he only heard
Of the veneer and panel company United
State Office Furniture Company ard the
Indianapolis Desk COMPANY since the trust
company had been appointed receiver. He
valued the assets of the cabinet company,
exclusive of accounts, at s1O5,OO and the ac-
counts were value at $4,000.
By Mr.. Kern-How much have you real
lied from the London branch?
This question was objected TO By the de-
Tense, but the court permitted lit to be an
swered, and he said the receiver had real
lied 5000 on this property. On the New
York and Boston branches nothing had been
realized.
The REORGANIZATION was then taken up
by Mr.. Duncan, and in answer to gu stioas
~propounded the witness said he was a.
quainted with the manufacturing establish
ments of the city, AMI thought he Gull
name the principal ones. He was ac-
quainted with the value o. rsal estate n
the city. Since the trust company had been
In charge as receiver, he said, he had given
the business his personal Supervision and
was as we'll acquainted with the value OF
desks and the business of making them as
an appraisement and identified a copy OF 1T,
wnicn he said was correct.
Henry j. Smith. lumber dealer and stave
manufactures, OF Seymour Ind, was called.
He had had dealings with the cabinet com
pany for several years prior TO the IA lure
Of the company. At the time OF tn Ia l.
ure the company owed linn an open ac-
count of s., 9S2.04. and upon notes $4,000. upon
which IL was entitled TO a c-edit CT S45o.2i.
He was also liable as in orser upon a note
OF the cabinet company for 81 SIT, which he
was compelled TO pay. The
cabinet company to him WIS s9.t42.93. He
said he was in this city Aug. z, AM had a
talk with A. 5. Reed about their accounts.
He told Reed the bank at Seymour did not
think the company's paper was worth 100
cents on the dollar ana he wanted add
would be given, and the same day the cab
met company sent him mites of the Amer
lean Disk and Seating Compan aggreeat,
ing $5,5OS.9 S. AL of this paper was Endorsed
by the cabinet company 10 the witness, ex-
cept one piece given TO the Wootsn com-
to him. He also received soma Of the
Clark notes given in purchase of the New
these NOES 10 a. II. Byrd Tor IS c,nts on
the dollar. He said that at the time hs
received tae Clark notes ne lecaiyed throlsh
New York branch without anything TO ex-
plain who sent 1t. Upon this was the date
Ian. &c, 1884, and at the DOT of tae in
yentory were the words, Cash value, net,
about 81, 5C0." The witness said a part OF
the notes received at the time he Clark snl
ceived were the purchase notss of Thou as
l.. Piece for the Boston br. n h. aggresat-
re bank he had a c-nversatiCn with T.
A. Coffin. in which the latter tod the wit
aeo1t sac sac coo eoOif He also ADMITTED that It owei
the bank on some bonus, but hal nine
years in which TO pay the ebisat.on. As
the witness was leaving Coffin sail to him:
1--WE will always take care o. you, Henry"
On REORGANIZATION by Mr.. Wiat-r he
said the debt TO him was for logs and luAl-
Volney a.. Aaio11, president OF the lndi-
ana National Bank. was then called. He
forty years. He was acquainted with the
details OF the management of his bank in
reference to the character OF the paper
that passed through IL. The same questions
that had been propounded to Mr. trenZel
concerning the various companies of the
Collins were then put TO Mr.. Malott.. and
he answered that ne knew nothing OF the
on REORGANIZATION. by Mr.. Duncan he
was asked If ne knew the number OF cor
poration in the city. and said he did not.
He did not know that either of the Collins
side issue corporations had ever been or
Louis Robinson was then called. and testi-
fed that the writing upon the inventory
received by Mr.. Smith was In the hand of
+. A. Coffin.
THE BANK EXAMINER.
Charles T. Jameson, national bank exam
iner for the central district of Ohio. was
then called. He testified to the examina-
ton Of the defunct bank on July II and IS,
1898. At this time the bank held paper or
f. A. Coffin 10 the amount OF 81. 927. SO. and
of p. Il. Coffin TO the amount OF $27. 196. IS.
1t also held acceptances OF the Indiana Cab
met Company amounting 10 S~27,Oil.92. and
there were two pieces OF this kind OF paper
in the bank at the time that were not there
at the time of the failure. He then gave
the amounts of paper OF the various con-
Germs connected with the cabinet company
which he found in the bank. The total OF
the cabinet company's acceptances was
So. 4e2 IL; of the London branch, 81 .Si0.2 q:
New York branch, SO, SS.59; United States
Office Furniture Company, S25,991.05: pillow
company, $780, 40.25; veneer and panel COM
pany, So, 3s7.S3; Wooten company. $i5.-
l44.2f. He testified that there were several
pieces OF paper in the bank at the time OF
the failure that were not there at the time
OF the examination. The witness said he
discussed this paper with Haughey, ana
the latter told him that II was all CONF
mercial paper.
While taking down the list Of direct pa
] DER Haughey said: "lsuDposT yns are look