The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-24
which took place tonight before the Empire
Athletic club of this city.
HAMMOND DEFENDED.
Illinois National Wreck Charged to
Other Hands.

Other Hands.
CHICAGO, Dec. 23.-E. S. Dreyer and his
partner, Robert Berger, Of the banking firm Of
E. s. Dreyer G. Co., which collapsed Mon
DAY as result of the closing of the National
Bank of Illinois, and for whose arrest war
rants were issued last night, gave themselves
up today. Arrangements had already been
made for bondsmen. and the two bankers
are charged with receiving a deposit on Sat-
urday last, knowing that their bank was In
solvent.
w. A. Hammond second vice president of
the National Bank of Illinois, who has been
charged with pulling the wool over the eyes
of the directors Of the defunct bank, would
not talk today when seen in his home at
Evanston. However, he made statement
which is calculated to inculpate several of
the directors, as well as two or three men
who are not connected with the bank. The
Post makes the above statement and gives
the following:
''W. A. Hammond is to be made the scape-
goat of the failure of the National Bank of
Illinois," said friend. Hammond is
broken man today, but he is not any more
to blame for the amount Of money loaned on
Calumet securities than are the members of
the finance committee of the bank and its
directors 1t was necessary to the purposes
OF man connected with the South Chicago
City railway, and an officer of one Of the
best known banks In the CITY, to depreciate
the stock of the Calumet street railway and
these two men brought about the wrecking
of the National Bank of Illinois. OF the
UdlIh IuuUS ,4fO,UVV mao DeSu loaned on
Calumet securities. The plan for wrecking
was brilliant: Cause an investigation de-
preciafe Calumet stock, combine this valu-
able property Of So miles Of new track equip
ment and franchise with the South Chicago
railway, eventually combining with the Chi
cago City railway, and make a fortune of
millions within five or ten years."
Could the matter have been delayed thirty
or sixty days the Calumet Electric securities
would not have been found among the banks
assets. The sale would have been effected pos
sibly at loss to the bank but without dis
turbance to the public or heavy loss to stock
holders of the bank. But this course would
not suit the purpose Of persons desiring to
control the Calumet Electric road Three
years ago E. S. Dreyer alone owed the bank
Sl,000 OOO, and for three years Mr. Hammond
had been trying to reduce that 1t was re-
duced one-half when the doors of the bank
closed and it was due to Vice President Ham
mond that this was accomplished. If the
securities for the loans to these two men
Dreyer and Weiss-have disappeared they
disappeared Saturday. That point may come
out later One director In the bank who has
been talking great deal since the condition
or the concern became public took $12 900 out
OF the bank Saturday afternoon.
The Illinois Trust and Savings bank with
drew today the sixty-day notice given to de-
posltors tuesday and paid all who called for
Ihelr money. There was no run whatever
some OF the other savings banks also with
drew the notice and the others that gave it
VIII Go likewise as the anxiety among de-
posters has entirely abated.