St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-30

was regular deposit, but the $4,000
which is missing is described by word
which the readers Imagination can sup
ply. The county has sl03, 900 on deposit
in the institution, and it is now six
months since it suspended pay
ment on both city and county
funds, though it has continued in busi-
ness, and, | am Informed, has paid all
of its other depositors within about
$1,000. 1t has certainly been very kind
on the part of the city and county au-
thorltieS to allow their accounts to
stand on the hooks, with $4,000 in that
special non est fund. while the smaller
depoSitorS have been cared for. While
only one Mckinley appears as director,
there are more of him. He exists in
the form Of John and William McKin-
ley, and in various Mckinley enter
prises. 1t is the current report that
John Mckinley has borrowed 5000
and William Mckinley $4,000, and that
THE M'KINLEY ''ENTERPRIsEs"
have borrowed enough more to bring
the whole Mckinley Indebtedness up to
S175,OOO. Your correspondent has these
figures upon what he believes to be
reliable authority. | also have the fol-
lowing list of loans made to directors
and stockholders, and when the books
are thrown open, as the mayors letter
says Mr.. Richardson offers to do. think
if any error is discovered the amounts
will be too small:
James Billings. Sl70, 900
George A. Elder, vice president. $1,000
A. w. Bradley, president...... $4,000
Clinton Markell. ....,. $4,000
Here is the neat sum of $45S, 900 loaned
to officers and directors out of six hun
dred thousand capital. 1t is matter of
surprise that they did not borrow the
remaining $4,000, but perhaps when
books are examined it will show that
they have. and hence ! will suspend
Judgment and not censure them for
leaving a little until it is certain they
have.
Mr.. Elder is not inclined to talk very
| much, and Mr.. Richardson is in the
| East He, however, consented to talk a
| little today for the benefit of the GLOBE,
F., and he is entitled to have the credit
of it.
QUEER SORT OF MISTAKE.
| He says they kept their account in the
! United States National bank in New
| York, and made the mistake of sending
! the money the city gave them to pay the
! bonds to that bank instead of the bank
holding the bonds, and as they owed the
| United States National, that institution
| got even by creditlng up the $4,000 tc
! their account. When asked if the Nc.
| Klnleys had not borrowed SITS, 600, he
said it was not so much as that, but il
was not over $4,000 for one and $40, ,0OO
for the other. He claimed that when
| the, loans were made they supposed they
had good security and still believed al
conld be saved from loss if let alone. He
! said they had just secured 1000 fol
which that had given 100000 security
and as this loan was made from a new
party he did not want the SIS, 900 matter
to come out. He did hot deny that the
| stock had gone down from the $50 pei
share to Is cents, but reiterated tha
! when the loans were made the security
was thought to be ample and in time
might again be so. He said the stock
holders were liable and had enough tS
! settle everything. He admitted, how
ever that the McKinleys had deedet
! their mine to the Rockefeller syndi
| cate. The communication ofthe mayor
was referred TO committee Withou
debate, but the end is not yet.