The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-14

70 say NudI IL phe purpose ~ MS Nlslt
here. but those who have been showing
him around declare that he Is merely talk,
Ing a vacation Wen Informed iron men,
however, are Of the opinion that schwab
is making an examination of the Tennessee
Coal, Iron and Railroad company's various
plants with view to making a report to
the steel combine on their condition. It
Is stated thar the position of the Ten.
nessee compaty Is such that the steel
combine, of which Charles NJ Schwah 10
the head, can control II at any time it
esesSsoessessse
investments, find that our books show an
oyerdraft, but the bank book at the same
time would show credit 10 our favor.
As e Shqt part 81 me boards report
rhlcae ilDs,i * s,,d - eieP '"ff a. lay
company by which / am also employed, IL
Is true to the extent Of some loans being
made and In each instance ample security
taken Tor tue money loaned aud IN an
cases the principal and interest Of the
loans We're promptly paid to the endow.
ment rank, except the two loans referred
Parker on real estate. In these cases the
parties purchasing the property applied for
Il loan from the endowment rank After
an examination as TO the value and title
OF the property | agreed TO make the loan
on condition that they put the title In
tine name Of some one thar | kDalt and
Parker became the owners in fee IN the
cases referred TO. They In turn executed
a declaration of trust to the persons WHO
obtained the loan. Both baker and Parker
are trusted employees of the st. Paul con-
Rany but had no Interest in the l0-ArsS
The property mortgaged is ample sectTity
for the loan and any person reporting n
valuation otherwise is either Incompetent
or lnslncere.
The reports that ] made loans of $1,000
and $3.50 on the same real estate in the
names of different partiee-thla statement
| Is not true. The two loans referred to,
those OF Maloney and Kehoe. were differ.
emit pieces OF property nine miles apart.
These loans were amply secured and in
both Instances paid before they were
due
THE loan TO the Ellwood Manufacturing
company Of De Kalb, ILL.,, is paid In full,
including interest.
,'As to the charge Of the board OF con
from section 10 427, located at Milwau.
kee, Of which | was secretary, IL Is un.
true and false. | have the record cyl
by the mode Of nresentment of the fail
ure Of the City National bank at Fort
Worth and the Texas lands, II Is made to
appear that | am entirely responsible for
this loss. This IS not true Bids were in
Yted under the law, the City National bank
Of Fort Worth was the highest bidder and
was compelled, under the constitutional
provision. 10 make the deposit The dc
posits began IN 1888 and ran along until
the failure OF the bank IN 1885. which
-
IN the details attending the adjustment Of
it's affairs. the board was compelled to In
vest another sum amounting 70 about So,
20 save the equity for the benefit Of the
endowment rank. These lands were a part
of the assets Of the Fort Worth bank ana
the endowment rank still own them and
are receiving n rental Of about 5000 yeal
for the same, and nets the endowment rank
between $500 aud $500 after paying the
taxes, the same being rented for pasturage.
IL is said by COED judges Of values that
this tract Of lind amounting TO 24lO acres.
Is worth In the neighborhood Of SlOU0uO.
OF course, this Is disputed. was not re-
sponsible for the deposit Of this money,
neither for the failure OF the bank, and
and the lands are held they will even
tually be sold greatly 80 the beneht OF the
rank.
per cent from the receiver of the bank
upon the deposit We had in the bank,
when It failed, which was about Sl4lOoO.
viii be at least an additional 5 per cent
dividend gh Is WIN Eay one'haif OF tne
"As to the Arkansas railway matter, In
which II Is claimed thar ! used 5000 or
the endowment ranks money w my own
interest 10 bride the Arkansas legislaturet
This Is not only false, but ridlculous ]
never made any statement as 70 briblns
the Arkansas legislature, neither did use
5000 or any other amount oI the endow
ineut rank moneys In my Interest 10 the
railroad venture referred TO. | did loan
s5OO0 ~ the endowment ranks money Nh a
note executed by one Of the men Inter
ested In the railroad enterprlse-the prin
cipai and Interest o. that note mas been
Dgid.
Gas TO the claim made OF deposit Of
$1,000 VITA the law firm Of Goodhart 4
Goodhaft Of New York. | have no knowi-
edge OF any such transaction.
"As to the Investment Of endowment
rank funds In Lexington hotel bonds. they
were purchased at various times. BEFORE
purcnesing any OF them, ] conferred with
men in whose. Judgment as 70 their valhe
/ lad entire confidence. They were bought
for less than par value. each purchase
reported at the time to the board Of con
troll and approved by the board ard for
some time we received our interest prompt,