The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-18
FOR ANOIHER'S SIN
Il Is Argued That Banker
Cross of Emporia Died.
IN HIS FATHERS TIME
Was SoWn the Wind of Which
He Reaped the Whirlwind.

p.c.ure o. the bitter CONNECT lnaL men Z &c
sometimes called upon TO wage with 'the
thousand natural shocks that flesh IS heir
to Tor nearly a quarter of a century
this bank has been viewed as one Of the
most solid institutions of its kind in the
state Its management has appeared quite
above suspicion. Confidence in its sound
:ess had become so firmly imbedded in the
mirds of its patrons that few, if any, Of
them would heed the whispered warnings
of its weakness. It's fall was unsupported
and crushing in its force. Even after its
doors were closed by the examiner and its
president had rushed madly to his farm
and inflicted the death penalty upon him
self, many persons failed to comprehend
the situation. In the excitement of the
moment many blamed the government,
while others poured their invectivss upon
the bank ocials. Each depositor re 'Tetted
he had not been given opportunity ID with
draw his money in time to save his loss
Some reasoned that if the bank had not
been closed and time had been given, al
would have been well. 1t is now demon
strated that this was a mistaken idea and
that indulgence for even a short time
would have made matters much worse. A
few Of the depositors might have been able
TO Withdraw their funds, but this would
only have incurred deeper loss upon
others. 1t is how feared that the banks
assets are wholly insufficient to meet its
liabilities. Its substance seems to have
gradually been frittered away The fact
IS. the bank should have been closed LEM
before It was. 1t is proven beyond dispute
that the action of the bank examiner is not
Oily justhable, but of great benefit to its
creditors. The task of bank examiner is
4 very difficult one The Justification of
affairs through the substitution of worth
less paper and the doctOring of the ac-
counts is not always easily detected, as is
shown by the fact that work of this kind
had been going on for some time without
discovery. 1t now appears that the foun-
dation for the final wrecking Of the bank
was laid by its former president, II. c.
Cross. He was a speculator in outside
properties and was possessed Of an ambi-
ton 10 obtain control of surrounding af-
fairs in both a political and business sense
few years before his death he con-
eeived the idea of absorbing the newspaper
interests of this city. This idea he car
RED out to the extent of squandering a
large sum of the banks money How
much, l am unable 10 say. Mr.. Cross
seems to have entertained the notion that
bank should exercise a great deal OF in
fuence over the community in which it is
situated. i is probable that the carrying
out of views of this kind here and else
where has furnished much of the material
from which the so-caued reformed politi-
clans of this state have been able 20 Draw
exaggerated pictures of evils flowing from
banks. They charged up individual ex-
travagance and dishonest methods to the
monopoly of rights. Arguments of this
kind made considerable impression and
there became d generally conceded con-
centration of power in banks. desire to
speak of this matter in a candid manner,
as it is useless to attempt to cover up
the wrongs that have been perpetrated. I
believe that c. 5. Cross bravely snouidered
the pack that contained the faults Of an
other and that many OF the secrets of his
misfortune were buried with him. Suf-
f1,ient facts have come to light since his
death 10 extenuate and tighten many Of
the errors that he committed. Let US re-
member that there are conditions connect
81 with the faults OF men which, although
hey do not excuse, palliateat least the
motives that inspired the deeds. Human
tribunals may not excuse. but eternal jus
lice may strike a balance between the
temptation and the crime. From all that
can be learned in regard to facts and cir
cumstances connected with the affairs OF
the bank it appears that in this case the
president was its moral as well as its legal
head. Il also develops the fact that men
uuskilled in accounts have no business 10
hold important positions in banks. If d.
rectors are required to sign statements
showing conditions they should be able 10
revise the business done by the president
and cashier Otherwise IL is farce and
unreasonable that they should be charged
with concurrent responsibilities. Mr.. Mar
tinda,e the vice president nor none of the
other directors appear TO have been cogni-
zant of any of the crooked transactions of
the bank which was slowly but surely
sailing into "a whirlpool as merciless as
Niagara. mighty catastrophe that. with
out the slightest conjunction of conscience
dashes aU that comes within its power 10
certain destruction. II matters not what
comes wi,hin its influence it Is the pro-
vince of This mad torrent 20 pour ON and
is scarcely doubt that the directors and
minor officials of he hank had such I'M
plicit confidence in the integrity of Mr..
cross that jhey were fuliy blinded 20 the
true situation of the bank.
some Of these men appear 10 have been
made its greatest victims. Il is not my
purpose TO disparase or speak in extern
nation Of the faults OF anyone further
than 70 accord To each that which is justly
due. Rivalry n politics ana business spec
ulations IN lands stocks and mines seemed
10 have insidiously absorbed the substance
az the bank All bad paying inves tnents
have been unloaded upon il. and there has
been gradual conversion Of the hank 5
funds into doubtful private enterprises.
Electric lght plants mining and mill prop
critics. cattle speculations and various 9TH
er things contributed 10 the banks final
overthrow The good citizenship and gen.
erous sentiments OF neither II. - nor -
6. Cross have ever been questioned by their
neighbors. These men were Charitable in
arms and liberal IN their dealings. Neither
ever eNacied the pound of flesh. 50 ex-
enalarv was the conduct ana 50 lovely
was the lie % G. :. Cross that he had few
81 any. enemies Notwithstanding MS
faults. he might easily have maintained
the respect Of this community had he
chosen 10 live. The details OF Tie various
speculations that led TO tile failnre OF the
bank All probably DC furnished by the re-
-caiver in course 81 time. When these facts
are fully brought cat 7 beHs .c So VIII ne
shown that c. :. Cross was actasted by