The record-union., 1898-12-16
ONE DAY NEARER. THE END.
RECEIVER O'NEIL'S SUIT
AGAINST d. o. MILLS BANK.
Ex-Building and Loan Comm1s-
sioner Fisher Testified
Yesterday.

When the case of Receiver Omen
against the National Bank OF II. w.
Mills &; Co. was resumed yesterday
morning, George A. Fisher fofInelIy
Building and Loan Commissioner tooh
the stand as witness for the proSecu-
tion
He testified that prior to DeceiilpeI
IA, 1895, he had a conversation Win l..
K. Alsip relative to the sixth series oi
stock having become aware that II
was about to become due. he anu
Commissioner Spaulding had ndue
themselves familiar with the notes anu
securities Of the association. He hao
written a letter to Alsip after MS CON
versation in regard to the Sherman lsA-
and matter, which had already cost lIe
association $4,000 He told him the
stockholders would not stand any lur-
ther loan and would prefer to lose on
the property.
In 1896 he wrote to Alsip asking for
q detailed statement of the associations 5
affairs. When the report was received
by him there were found to be some
slight clerical errors, amounting to 81
which We're corrected, with the consent
Of himself and Mr.. Spaulding. They ex-
-
February, 1896, to ascertain what real
estate it had and also compared the
notes and mortgages.
He examined the Pythian Hall mort
gage and thought at that time the VAL
uation of $4,000 on the property was
a fair one. He also examined into va
rious other mortgages and thought the
valuations were fair. Examined the
ha Prio Sc2 t1.l
He was somewhat familiar with the
property in former years and on inquiry
was of the opinion that it should bring
that amount. He also made inquiries
about the Sherman Island property, and
thought it was worth the amount loan
ed on it. Mr.. Alsip went over the diff
ferent pieces of property on which loans
had been made and explained the whole
state of affairs to him. He wrote Alsip
a few days after, warning him not to
pay off the sixth series of stock until
the Commissioners were satisfied Of the
value of the stock. He was not aware
that it had been paid off till a year
later.
He advised Alsip that the stockhold-
ers should pay in three, six or nine
months longer. All the sixth series was
safe. He and Mr.. Spaulding made COM
parisons of the notes and mortgages
with the books, and Mr.. Alsip told him
that the interest was all collected. They
had access to all the papers in the office
and Mr. Alsip gave them all the infor-
nation he asked for. They did not see
Mr.. Steinman at all. His conversation
was with Mr.. Alsip alone, as Secretary
of the Union Building and Loan Asso-
citation. and no officials of D. O. Mills
& Co.'S bank or of the Farmers and
Mec 1anics' Bank We're present at any
of them.
In the afternoon Mr.. Fisher continued
his story Of the affairs of the associa-
tion. He admitted that he and his COL
leagues never objected to the distribu-
tion Of the sixth series 1--WE did not
know of it until it was DONE he said,
'and then We allowed it to stand"
n number of questions asked by At
torney Devlin We're ruled out as incem-
petent and irrelevant, and as improper
because not brought out in the redirect
and main examinations.
The next witness was Howard Kim
brough. Questions We're objected TO on
the ground that the line of Questioning
would be allowing parties to suits to
make evidence for themselves, but the
objection was overruled
Witness testified that he examined the
books of the association and its real
estate for the purpose of ascertaining
It's value: that the Knights of Pythias
property examined by him in 1S97) was
then worth about $4,000. He said he
mad viewed other pieces of property at
the same time. He was handed q
printed copy of his report to refresh
MS memory, but, on objection, the
memorandum was withdrawn
On cross ss-eXamination Kimbrough re-
1terated his statements concerning the
hnlghts OF Pythias property. For five
or SIX years" he said, ''its value has
peen ABOUT the same as now, the lot
being worth $4,000. Eight or ten years
ago the property was worth $500 to
500 more" He said the building or
1ginally cost $4,000, but could be built
to-day for $4,000. Pressed as to anv
nkezbullding that could be constructed
1ors the minimum sum, he could not
name one. He did not know that the
structure was erected from the plans
OF Architect Hamilton, who was the
lowest bidder; he did not know that
Ihe contractor who built the hall took
tne contract too low, in consequence
of which he was embarrassed. He
1honght the Knights of Pythias Hall
apout third better than Arrnory Hall.
though he did not know when the lat
ter was built or what it cost The
Foresters building, he considered. was
worth. 90 per cent. more than the
knights of Pythias Hall. The Turner
Han was worth $4,000. though not so
good building as the Knights of
Pythias Hall He thought the latter
had deprecated 20 per cent. within
three years.
President Frank Miller. Of the Ma
tional Bank Of D. o. Mills & Co was
the next witness. Attorney Johnson
asked for the account of the Building
and Loan Association with the bank.
but this involved delay of half an
hour in getting the books
J. L. Siller was the next witness. He