The representative. [volume] (St. Paul, Minn.) 1893-1901, 1895-05-01
The STATE GETS BACK So, 900
BOBLETER COUGHS UP AND Is
WHITEWASHED.

expected brought forth mouse. With
ample powers and a broad field to work
on it has deliberately scorned the aid
Of these who would and could lend as
sistance in Matching a scheme Of vii
laincy to plumber the state, that has been
practiced for years past. The commit
tee has found that Bobletter took gifts
for lending state money, but whether the
committee would have seen fit to so find
had they been certain the evidence had
not been seen by others we cannot say,
but they did have the grace to collect
from Bobleter part of that which he
had taken from the state, even II they
do tell what kind, good, clean, gener-
GUS. honest fellow Bob is.
The committe say:
"Our investigations have been
limited to an enquiry, first into the
financial condition Of banks having on
deposit funds"
The committe then give list of the
banks with amount deposited in each
and closes by stating that I'VE believe
them all to be of good financial stand
ing"
We know not from what source the
committee has received it's information
bat evidently from no very reliable
source Indeed it seems highly prob
able that the committe did not seek
very diligently after any witnesses
who could give the facts, but whether
this failure was owing to premedita-
ed desire to make whiteWash report or
from Jealous fear that some witness
might secure part Of the lustre to at
tending the work Of the committee We
do not attempt to state, but we do say
that as the result Of our labors the state
is over $4,000 better off, for Bobletter
ex-state treasurer, found that we had
seen checks bearing his endorsement
which he had fraudulently gotten as
rake off for depositing state funds In
certain broken banks; hence being
caught in the act, Bobletter makes a
virtue of necessity and coughs up $4,000,
but not until he is caught. Nor until
every effort has been made to defeat an
investigation. Whereupon the commit
tee gave Bob clean bill Of health and
certificate of good moral character.
1t is we'll known that we drew the res
olution, reader, which the committee
voted, yet we were not given chance
to 20 before the committee at any ses-
sion, neither was another gentleman
who possessed many facts.
We furnished to two members Of the
committee printed data covering two
sides of a newspaper showing the man
agement of certain financial concerns,
hence it seems that the committee could
have had information If it so desired;
hence it is to blame for it's whitewahsing
report.
The committee finds that the state has
assets in certain banks, which banks
they believe to be in good condition, and
convey to them following, to which your
attention is asked, in order that you may
have certain facts which were or could
have been known to the committee:
In State Bank Minneapolis. ...... SIS, 445. &c
In Eank of New England, Min :, 400 -
II ne the Farmers; and Merchants lN' %
Bank, Minneapolis ,............ 1928. ss
In American Exchange Bank,
Minneapolis Observation-Disclosures. 1862. 81
Total ..................... s131, 1926 81
w
in the hands of a receiver:
In National Geman American,
In commercial. St. Paul ......... T'S99. 50
In Northern Trust Co., Minneap-
lis ........................ 35,364. 95
Total .......................... s147, 49e &c
In concerns that have failed but later
said to have resumed:
In First National. Minneapolis. s33,s47. %
In October, 1893, this bank made a
false statement to the comptroller that
it had a capital, surplus and profits of
81, 400 ,1O113, yet today it's surplus and
profits are gone, and the stockholders
have been assessed $500, 900 to make good
the capital; hence the banks statement
was true minus 81 200, 10113, while some
of it's stockholders would be glad to give
it's stock away.
In Union National, Min
neapolis ................ $64, 400. %
This bank reported capital surplus OF
$579, O48 .68, which is true lacking $780,
O48. 6S, since they have had to levy an
assessment Of $250,000.
In Flour City, Minneapolis. .$17, 10. Sc
This bank reported capital and sur
plus $1,167, 017.31, and later from some
cause is reported to have reduced its
capital 100000, showing a shrinking In
capital Of over 100000 It had or has
some very doubtful mortgages assigned
to it by the Metropolitan Trust Co.. and
we would like to ;all whether it is not
the holder Of considerable Of the stock
of said Trust ccnlpary, and which even
Kenyon finds to he yalueless. We would
also like to enquire how much Of Tom
Walkers unsecured paper it holds, and
paper of like value.
In Columbia, Minneapolis. 1920. a
A charge was made beth to a state Off
cial and the legislature that this bank
loaned money on Gerrnania Bank stock
though said stock had had no money
paid in on it, In view of the fact that
this bank is run by Bobletter and Ket-
tclson, one if not both of whom have
admitted they got a rake off on state
funds, we would like to enquire how
much rake off they demand from the
bank of which they are officials? Also
how much of their own notes have been
discounted by said bank? If Bobletter
for $4,000 will deposit $131, 900 of state
funds in busted banks he would hardly
seem to be safe man to entrust with the
funds of bank as cashier.
Brown County Bank, New
Ulm YlO, Ill. 81
Boon County Bank, New Tim. SO, Ill. 81
This is also Bobletter concern, hay
ing been started by him.
Bank of Minneapolis ....... 1874, 1913. Ga
This is Dave Clough's bank, and in
view of the facility with which the
Scheigs got away with good deal of its
a~I