The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-12-05

Brfngs TO Light the Financial Emosr-
rass~art NJ w Anderson.


Brings to Light the Financial Embsr-
rassmens OF 4. w. Anderson.
TACOMA. Dec. 4-rSpecisL New York
and Philadelphia bankers and railroad
magnates are peculiarly interested IN the
closing of the Tacoma National bank OF
this city. Ii owes the Western National
bank, OF the former city. about $780, 600. and
when IL closed. ". n. Golfer q Co., who are
connected with that bank and also with
Brayton Ives and the Northern Pacific
party were trying TO arrange for 100000
loan on behalf of the bank. 1t Ia under
stood here that Mr.. Gibbs. OF the New
York Life Insurance Company. Ives and
others we're ready to put up $4,000 OF
the 500. 900, but were timid because sx-
President G. b. Wright and his attorney,
John c. Bullitt, also of the Northern Pa
cific crowd in Philadelphia, refused to
advance the balance. Director Louis
ID. Campbell, of the bank, also Vice
President Robert p. Maynard, say Gibbs
was not interested directly in the loan,
and that his only connection with the
institution WAS to be the first to foreclose
. mortgage on Isaac w. Anderson, one of
the banks large stockholders and di-
rector of the Northern Pacific railroad.
residing here Is manager Of the Tacoma
Land Company and Northern Pacific
interests generally. The foreclosure was
for $50. 600. Anderson has left the city,
ostensibly to visit Wright at Philadelphia.
The Tacoma National bank estimates his
debts at 500, 900, with approximately
nothing here to show for il 1t is sur
missed that he lost heavily on Wall street
during the boom IN the Northwest, but the
officers of the bank say he did not lose it
in Northern Pacific stocks, as has been
intimatec. Ii is believed in close
financial circles that Wright and
Builitt refused to help the bank
because the city of Tacoma In
tsrfered with the plans of the Northern
Pacific and the Tacoma Land Company in
making harbor improvements, the city
taking the ground that the corporations
were usurping the entire water front.
President w. b. Blackwell of the bank has
been in New York and Philadelphia for
several months trying to keep the bank on
Its feet through Q reorganization plan.
His friends say he was getting along
swimmingly when the superior court of
this county decided a case which threw
shadow on $2l2. 900 of city warrants. be-
cause they had been bought with city
money and deposited as city cash. The
banks negotiating these warrants are re-
sponsible to the holders thereof Later,
through apathy and ignorance, the county
failed to validate $l07. 600 of illegally issued
county warrants, thus further alarming
the capitalists in New York. These war
rants will. in all probability, be legalizsd
later. The bank owed 81 ,250, 900 when the
Earrings failed, and $50, 900 when it closed
temporarily last July. Louis ID. Campbell
says:
"If but one stakeholder would pay up.
We could pay off our depositors in full and
have balance left"
This must refer to Anderson. Mr..
Campbell says further:
1.-The meanest thing done by him was to
claim q homestead exemption when a
mortgage was foreeosed on his house.
The house is mortgaged for $4,000. He
has hypothecated everything. HIS ranch
in Stuck valley is mortgaged for SIS, ooo
Yes, the bank Will take the farm subject
TO the mortgage. After he had borrowed
from the bank he went further and mort
gagged his various properties not already
covered with membranes. Then he also
sold his stock in the bank or hypothecated
it."
In addition to these il is said Mr..
Anderson borrowed from other sources,
and had some of his employees borrow for
him. The Tacoma National bank was the
first banking institution in Tacoma that
organized under the national banking
laws. Mr.. Blackwell. its president. owes
it considerable, and some of the stock
holders are not well pleased with the
manner in which he has arranged with the
indebtedness. The bank now owes
depositors $4,000. and has $50, 600 in
other membranes. Anderson. Edmund
Rice and President Blackwell are given by
the minority stockholders as the con-
trolling stockholders. and il Is further
stated that Mr.. Anderson had his own
way after Gen. J. W. Sprague stepped out
Before that time IL Is stated that the losses
to the bank did nos aggregate $1,000 1t
| was about that time that the hard Scotch
sense of Robert Wingate resulted in his
selling out his interests in the bank as far
as convenient.
C. A. Murray, receiver of the Western
Washington Industrial Exposition Com
| pany, asked today that the lease of the
buildings and grounds to the Northwest
Interstate fair be Cancelled, and that be be
allowed 70 sell the buildings st public
auction. to satisfy the claims sgainst the
property. The court granted the request,
and the sale was set for December q
The report of the receiver of the Garrett
| son Woodruff Pratt Company shows a
mortgage OF $50, 600 against the property at
| Pacific avenue and Nineteenth street. Ia
coma. and $40, 900 against the Blaine prop
erty. The total amounts received from
sales are slS5. 900, with debts Of s342, 993.
| Claims have been presented TO the receiver
to the amount OF ssle. 30; and s3ls,56s
| has been allowed by him.
| British Columhis News
VANCOUVER, Z. c.. Dec 4-Ths little