The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-02-29
Csrattan II. Nheeler on Check kitIn
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Tacoma. rNea 1S.-S1 ec583 -T22ss suit -
Receiver Tlglaw. of the Baak Of T8co-ua,
against y {. FSsellartls. ~ seattle e. sef
aside the transfer 0f a mortgage for SIS
- on The Cascade oatmeal naiil, IS oa trial
in Jadza StaHeups court. THE receiver
claims that The transfer by The bank 50
Richards was fraudulent and without con-
ssieraraa. AcconntaHt Ch38ester was on
the stand mast II t3ae day going oSer the
affairs Of the Bank % Tacoma and the
Tacoma Trust ard Savings hank.
The most interesting evi2erce brought
oaG consisted OF dozen or more letters
written from New York hT GrattSn =.
Wheeler formerly cashier Of the hank 30
Nr. Richards and President ". E Alien
Ia she fiaeat of recent events, and since tAA
a. Sc1osures made as - ne wrecking Of the
Rank 0f Tacoma. Mr.. Wheeier's lettcrs
are most interesting. In nearly ai& 0t
these iasuOiuced. he speaks 81 'kiitng
cheek" which is probably his way Of de-
ss,rflsirr a financial deal made without the
use of coin Tie also urges Messrs- Ailea
ard Richards 10 keep the bank open "A
little wEgle longer" or until ne can sue
coed in getting the Mutual Investment
Company. formerly % Tacoma but now
of New York. 90 making money. Nhea
thgs happy time arrives. Alr, Wheeler 'aa-
visea his friends here ID save whai theN
csald ou af fae wreck. The aank had
seaS CO. Of c3ty funis il it when Il failed
Here are a few extracts from some 81
tha letters Mr. Wheeler has never re-
turned 10 Tacoma since he left in the tail
of 1891:
New YorS. Jan. is 1875.
pear Alien: The United states m
vestor man came up 80 see me about six
times. and finally ] could not put him OF
anv longer, 80 had 10 give him check
for Sso on TSxoma-knowing that you rave
use for all Fhe money you have. and
have for every dollar | have here, con
cluded 10 kite a cheek-and by tnat timt
hope to have taken in enough 10 meet u.
So on receipt Of tho SEQ check destroy II
and nut i'm its place the enclosed check on
New York, which will pay it al Tacoma,
should | not then be able 10 meet II viii
kite another check Don't want 70 draw
on you for a dollar II l can possibly help
IL
on the side of the sheet is this; Don't
put the SEQ on our account in Tacoma.
Destroy and use enclosed check 20 take
IL UP with Truly. WHEELER
This is dated February Il. 1896: -
I tell every one here that our bank PUTS
up collateral for cur deposit. You must
see that such is done. think II Is
good idea TO make slip charge on the ac-
count that my checks are charged TO, and
take the check up. So when the crash
comes they will not he there. II IS uossi-
bic If We can get underway, 10 save the
thing (naplo In case the thing
has TO go save something 10 keep this
thing going, as il is our salvation. and
will make all three of us rich ! will then
tell you WIN / think we should do-one
thing is TO leave Tacoma"
New York March {. 1895.
Dear Allen: Your sd inst before me
for C. sake keep the machine going Tor
six months anyway. BY that time, II not
before We viii he out OF the woods.
Find for credit so. While | am using
more money than allowed. will kite few
checks. Keep the thing going little
while. and We will be all right. Yours,
WHEELER.
From another OF later date Yours Of
the 9th before me Fight it out; don't
give up until last straw is broSen-that
win give US time to get the Mutual nn-
I'VE want a president. and he must be
an Eastern man For G. sake
keap going until we are on our feet here.
VIII be there lust as soon as II IS possi-
Bile >.
Il viii fight that check once more-and
in the meantime take 1t up With two
small checks. >
The Mutual Investment Company. of
which Wheelers letters are fun, was one
OF George Boggs' most brilliant ventures.
II was widely advertised throughout the
East and middle West. and the company
was held as a sure winner for the invest
ment of money by people of small means.
The shareholders paid in small install
meuts. and when fully paid in the shares
drew per cent BogRs was originally
president. and when he got into hot water
over the bank failures here Wheeler ct ri.
cast about for an Eastern man. In one
letter William J. Parkinson. who now
lives in New York. and who was formerly
senator from Whatcom county, Is named
as a likely man for president. In nearly
all the letters Wheeler speaks OF the i'm
pending failure OF the Bank Of Tacoma,
and advises his friends to save all possible
for the Mutual Investment Company He
tells Allen 10 destroy all the correspond
ence.