Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1896-12-30
CONFER WITH ECKELS.
Directors of the Collapsed National
Bank of Illinois Visit the
Comptroller.

Washington, D. c., Dec. ga COM
mittee of the directors of the collapsed
Bank of Illinois called on Comptroller
Eckels today for a personal conference
regarding the banks affairs. The direc-
tors thought a better understanding OF
their own positions and that of the comp
troller could be obtained by a personal
interview, than by correspondence. They
also desired to see the originals of GER
tain letters which passed between the
comptroller and the directors, some ques-
ton of authenticity of signatures having
arisen.
The committee of directors included
VIM. D. Kerfoot, George e. Adams,
VIM. r. Page and Charles r. Corwith.
They reached the treasury department
shortly before II o'clock and were
doors being locked and the conference
held in secret.
A Long Conference.
The conference was an extended one.
The directors stated to Mr.. Eckels that
they desired to make a statement as to
tueir connection with the affairs OF the
bank and to explain their relation 70 Its
management since the letter written the
directors by the comptroller III 1893. Mr..
Eckels said TO them that he felt conf
dent that the management of the bank
had been very negligent indeed
The directors thereupOn explained that
the banks directors since the receipt of
Mr.. Ecke1S' letter repeatedly had tried to
close negotiations for the sale of the
Calumet Electric railway with a view to
realizing upon it but the business condi-
tons of the country, the long political
campaign and the trouble with the Dla-
mond Match company had caused fail
ure of those negotiations thus far.
They expressed a desire to do every
70
realizing the utmost from the assets of
the bank. Mr.. Eckels impressed upon
them that he would expect them to make
every possible effort to realize from the
Calumet road and at the best figure pos
Sible
The delegation informed the comp
troller that they had no one to recon-
mend for receiver and no protest to make
against the appointment of anyone and
were perfectly willing to cooperate with
anyone Mr.. Eckels might see fit to APP
point as receiver.
Interview was Pleasant.
This afternoon Mr.. Adams. for the
committee gave out the following: I'VE
mad a very pleasant interview with the
comptroller. Our purpose was to show
what we had tried to do to improve the
condition of the bank since the receipt
of the comDtroller's letter q year ago.
Our talk was mainly about the Calumet
Electric. We feel that the comptroller
will do all that can be done to realize ali
that can possibly be realized out of the
assets. We feel hopeful about the re-
suit. We made no suggestions about the
receivership, either for any one or
against any one"
The delegation said the directors were
very hopeful that the affairs of the bank
would be completely settled within the
next twelve months and that every obi
cation would be met and that the assets
probably would be sufficient to leave the
real estate clear.
Comptroller Eckels said this afternoon
that he had decided to appoint National
rary charge of the failed National Bank
of Illinois, permanent receiver of the in
stitution. The appointment will be for
warded this afternoon.