The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-15

| lam Bickel. 1t all depends on the value of
the real estate and loans If the assets are
su11clent to pay the deposits in full, and it
is impossible to give any correct valuation
or the same. Respectfully,
(SignedD oscar Lonegren.
| Assistant Bank Examiner"
/, MT. Head-In that statement does it show
that Kittson and Baker were owing the hank
on their Joint notes 500, 900?
MI; Temple-In detailed statement accom-
panylng Mr.. Lonegren's report of the exami-
natlon, under the title bills receivable Is
SHOWN an item or note A. S. Kttson and ].
+. Baker, S22, 4lO75. The submission of this
Kenyon to Gov. Clough, dated Feb. 6, 1887:
GOV. d. NJ. Clough, Capitol
Sir: have the honor to enclose here
with report of examination of Minnesota
Savings Bank of st. Paul. Respectfully,
lSlgned.) M. ID. Kenyon,
Bank Examiner"
Mr.. Head-That report was not filed with
the governor as the law required.
Mr. Temple-The report was made in Oc-
tober, 1895. and not filed in the governors
td office until February, 1887, and no examina-
tion Of this was made by the examiner be-
tween October, 1895. and the date of its sus-
pension.
Thus the testimony adduced at that
examination shows the report of Octo-
Der, 1895, is kept under cover and away
from the governor until February. 1897:
that the report which throws a doubt
Cn the sOundness of the bank formulat-
ed by Mr.. Kenyon's assistant is practi-
cally suppressed and no further atten-
ton paid to the matter, although Mr..
Kenyon's representative finds that
1t all depends on the value of the
real estate and loans If the assets
are sufficient to pay the deposits in
full, and 1t is impossible to give
any correct valuation of same.
These dates, 1t will be seen. also show
hot xlrYNsf sfyaTr
that this report of the assistant bank
examiner is hidden away in Bank Ex-
aminer Kenyon's office, this very bank
has in it's possession as collateral for
Mr. BickePs 81 ,250 note Of note of Bank
Examiner Kenyon himself for 81, 600
the one referred to simply and unosten--
tatiously on Exhibit No. 122 as Note
fer $1,000-M. ID. X"
The bank had presumably favored
Bank Examiner Kenyon by handling
his paper. Did Bank Examiner Ken
yOn favor the Minnesota Savings bank
by neglecting to file his assistants re-
port in reasonable time?
The readers of the G l o can each,
have one guess.
Mr.. Kenyon will probably say not
In fact in his testimony given before
the same committee appears the follow
ing:
Mr.. Feig asked: "Mr. Kenyon, the time OF
the embarrassment Of the Minnesota Savings
bank. was it under your advice that they
discounted sixty days notice?"
Mr.. Kenyon-No, sir.
Mr.. Sheehan-Did you know the Minnesota
Savings bank was embarrassed?
Mr.. Kenyon supposed 1t was.
Mr.. Sheehan-Did you or any of your men
know anything about its condition.
Mr.. Kenyon-No, we had four banks on our
hands at that time.
Mr. Head-Mr. Kenyon, in that examination
OF the Minnesota Savings bank in 1895. is it
not fact that the examination was not filed
with the governor for over a year?
Mr. Kenyon-It was not. We were very busy
at the time. / trust the committee will realize.
the position | am in now. We have banks
that we are discussing the question of
sessment OF capital and until / get that ad-
justed / don't want to turn that over 20
the governor without saying so.
Thus Mr.. Kenyon excuses the delay
of year and four months in submitting
a report of an institution the insolven-
cy Of which was questioned by his own
assistant by saying:
1--WE were busy at the time"
Bank Examiner Kenyon's Office, at
the very outside, is not more than 100
feet from that Of the governor, and yet
it took him a year and four months to
find time to dictate two-Hne note and
submit report which, it is claimed,
the governor should have had at once,
Mote for 81 000-M. D. X"