Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-10-31


Mr.. Lacey have disposed OF their prop
erty. I understood that they traded 1t
Tor certificates Of deposit in the bank"
Then lot OF these insolvent stock
holders hold certificates Of deposit in
are they?'
Yes
Tell us, Mr.. Wilton, anything you
know about any note for $500 that Mr..
Thomas Swearingen owed and that he
paid"
He came into the bank one day to
pay a note for $500 that he said he owed,
and told him that there was no such
note there. Director Hildreth was in
the back room and he took Mr.. Swear
ingen back there and produced the note,
and understood that Mr.. Swearingen
paid il"
Marshalltown, Iowa. Oct %, '99.-To
Mr.. H. d. Matthew'S: Regarding the
testimony heard at depositors' meet
ing on the 14th of October, 1893, would
say that / was secretary of the meeting
and heard the testimony and report of
Mr.. Whitton, receiver. While did not
take any notes of the meeting, and no.
notes were taken, yet, as now recollect
the matter, you have the matter sub
stantially correct, and to that extent l
SO certify. Notes Of testimony returned
annexed. FRANK G.. PIERCE,
Secretary, pro TEN, of the meeting of
the depositors of the Commercial
State Bank.
Space is given the above for the ben
eft of whatever truth there may be in
Mr.. Matthews personal statement, and
because the T.-R. is and always has
been anxious to throw any light on the
|Commercial middleton muddle it has
been from the first, and there have
been some who were apparently
anxious to plunge the banks af-
fairs into endless litigation, although
that is just what the court and the re-
ceiyer aimed to avoid. Some of MIR.
Matthews misunderstanding for
the moment that he is the author of
the communication, although there is
very good grounds to think the article
written in this city--can not be passed
without notice. He seeks to take the
T.-R. to task for its alleged friendlness
to the stockholders and directors. The
columns of this paper show whether or
not this charge is warranted. The de-
funct bank held no notes against the
T.-R. and this paper had no quarrel
with the bank officials, the court or the
receiver. This paper has been interest
ed only in giving the news of the faii-
ure as it developed, without fear or
Ifavoritism, which 1T will continue to do
as fairly as possible. 1t has no
axes to grind-which is not the case
/ With some of those who have had much
to say about the banks affairs. If 1t
becomes apparent that any one. be he
officer, stockholder or creditor, has been
guilty of wrong doing the T.-R. will not
| hesitate to say so.
Mr.. Matthews speaks of com
mon talk" about the banks af-
lfairs at the time it closed it's doors.
Common talk" counts for little
either in court or in the minds of the
general public. 1t is true that some OF
the stockholders themselves brought
about crisis in the banks affairs by
withdrawing their deposits and causing
a run on the bank. That was their
business. but a poor way of doing bust
ness. AS for Receiver Whitton, he is
able to take care of himself and nc
4 fair minded man has yet accused him
of doing otherwise than what ht
thought was for the best interests Of
all concerned. 1t comes with poor
grace for most of his critics, in view o.
their business experience, to accuse q
man of Mr.. Whitton's achievements oil
business incapacity. But If Mr.
Matthews knows OF any transactions
that were not straight, let him present
/ them to the grand jury, which will be
in session next week for the purpose OF
hearing them.