Richmond planet., 1897-03-27

knew wonld be ssked for Monday. Had
1t not been for the attack on the bank
InstigaEing Withdrawals our plans were
sucn Gnat We would nave been in q po-
sltion 10 meet ali demands. The de-
poslts ana withdrawal daily were 80
related in amounts inat ordinarily it
did not require much ready casn to
carry on our business. / was, there
fore, always an position to secure mon
ey when the bank needed it. When 1
saw pr9medItated purpose TO con-
tinue the withdrawal OF funds in pro-
cess OF execution l knew that failure
must come.
Knowing that my motives aud pur-
poses wosId be impugned, as the re-
suit Of the strain, Was on the verge Of
= nervous collapse. L determined to
leave the city until afGer the blow had
fallen, did this fully realizing that
at ieast for time it meant my ruin.
l went away without a definite idea
and travelled around the northern part
of New York and into Canada. stop
ping only = few hours at any one
place, and then returned home again.
After reaching Baltimore and find
ing my home broken mp, I went to
New York and Philadelphia to see
friends They have agreed to cooper
ate with friends of mine in Baltimore
TO place nae in position at an early
day that l may begin to pay all to
whom am indebted.
'As an officer Of the bank did have
large authority. which used to the
best of my judgement. aud, as circum-
stances compelled, for the best inter
ests of the bank. I have never done
any thing that is wrong l used the
funds in the way thought best cslcu-
lated to make the institution q sue
cess. / made the loans with my best
discretion. Anyone familiar with fig
ures will know what q tremendous
strain labored under to so utilize the
email amount Of money at my disposal
in the bank TO earn $2300 year ex-
penses, besides my salary of $1,000. 1
propose to remain right in Baltimore
with my family, and with the support
and encouragement of the good friends
/ have expect to pay every dollar
that l owe in the world. The deposit
tors and creditors of the suspended
bank will receive almost dollar for dol
lar. This will take a little time, but
with the forbearance of those TO whom
money is owed it will be done. There
is no shortage in the bank, and what is
so termed is nothing more nor less
than money borrowed from the bank
which / was compelled to utilize as
explained. II has been reported that
l took large sums Of money with me
when left the city. This is untrue
and ridiculous. The fact is that today
l am financially ruined.
TO 90 away / used my own funds,
the proceeds of rents. To return. how
ever, l was compelled to raise money
upon my jewelry. left home the Sec
ond time on borrowed money and am
dependent upon my friends until get
at work again"
The safe in the Lexington Savings
Bank office, at 3I4 North Eutaw street
which cost 500, has been sold by the
receivers for $50. Desks and Office fix
tures are also to be sold. The promis-
sorry notes found in the banks safe
have been deposited with the Drovers
and Mechanics National Bank for col
lection.
Mr.. George L Stanley, late book
keeper of defunct Lexington Savings
Bank. was seen at his residence, 1402
Jefferson street, by an Afro American
reporter in reference to the statement
made above by Mr.. Waring concerning
his influencing depositors TO withdraw
their accounts. Mr. Stanley denies
the statement in toto, and says:
Il have had nothing to do with in
l fuencing depositors to withdraw their
| accounts, excepting two persons. On
the evening of March 9Th, / told one
person who was about to make a de-
posit. friend of mine, that il was in
his place l would not do so. The same
II ma ov.fx 20. aYsfl n ROY
on q check"
Mr.. Stanley says while he had no au.
thority to call q meeting of the direc-
tors, yet he had spoken TO one in ref.
erence to the matter, and he and the
directors agreed to notify the other di
Irectors, which they did. Mr.. Stanley
said My reason for SO doing was be
Icause intended to resign my position
as things did not look altogether righ
to me. There was no run on the banl
at any time, even Just after the failure
Of the Northwestern Supply Company
The withdrawals had been stead,
Throughout owing to the hard time
and business depression. AS genera
thing the depositors did not Withdraw
their deposits on account of lack o
, faith in she stability of the bank, bu
rather from necessity. / had $40
worth of stock in the bank myself an,
made no effort to dispose of it. hai
no idea when / made known my inten
! tion to resign that 1t would have tn
I effect of closing the bank / did no
like the condition of affairs and there
fore preferred to resign"
} Several persons living On Code
street, near Druid Hill avenue, VIII
{ purchased property from Mr. Warm
claim to have paid him in full for
! and have deeds to that effect. Sine
: Mr.. Warnings departure they say ths
q a certain building association has pU
= in claim as having mortgages on tn
property for nearly the amount the
! have paid. 1t is said the building Al
/. lsociation will force their claims.
: they do it may result in all of thel
: losing their property. In consequenS
5 Iof which they are considerably exc
Icised over the matter 1t is elaine
by some that there are others interes
= ed in the matter besides Mr.. Warin
S Some of these property holders wi
: not give up without q fight, and ha'
= Iemployed legal talent to look aft
s Interests The end is not yet, at
2 many persons express themselves
: the effect that it would be better (
It Mr.. Waring to manage his affairs fro
{ a distance than for him to come hel
:. while others think he will do better
Y coming back and making q clean bres
2 of the whole thing.
/, Mr. Waring gave himself up Thur
n day night, and is now out on bail.
: Afro-AmericAn, Baltimore, Md.