The Montgomery advertiser., 1901-07-14


 in the name of some one that I knew and had confidence in. In this way Baker and Parker became the owners of the 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 Com many. but had no interest in the loans. The property mortgaged> is ample se- curity for the loan and any person re- porting a valuation otherwise is either incompetent or insincere.
 The reports that 1 made loans of ss. GOO and S350 on the same real estate. in the names of different parties. This statement Is not true. The two loans referred to. those of Maloney and Ke- hoe. were on different pieces of prop erty, nine miles apart. These loans were amply secured and in both in- stances paid before they were due.
 'The loan to the Ellwood Manufac turing Company of DeKalk, H.. is paid in full, including interest.
 "As to the charge of the Board of Control that I embezzled SHE'S of money due from Section No PAT, locat- ed at Milwaukee, of which I was Sec retary, it is untrue and false. have the record evidence to substantiate that fact.
 By the mode of presentment of the failure of the City National Bank of Fort Worth and the Texas Coal Lands, 1t is made to appear that I am entirely responsible for this loss. This is not true. Bids were invited under the law, the City National Bank of Fort Worth was the highest bidder, and I was compelled, under the constitutional provision, to make the deposit. The deposit began in 1888 and ran along until the failure of the bank in 1895. which failure. of course, I could not the adjustment of its affairs, the Board was compelled to invest another sum amounting to about $32.000 in some coal lands in Texas in order to save the equity for the benefit of the endow- ment rank. These laads were part of the assets of the Fort Worth bank and the Endowment Rank still owns them and Is receiving rental of about $500 a year for the same and nets the Endowment Rank between $500 and $40O, after paying the taxes, the lands being rented for pasturage. It Is said by good judges of values that this tract of land. amounting to 2.4bs acres. is worth in the neighborhood of slee.- 900. Of course, this is disputed. l! was not responsible for the deposit of this money, neither for the failure of the bank, and contend that if proper man agement is had, and the lands are held, they will eventually be sold greatly to the benefit of the Rank.
 We have received a dividend of about 45 per cent from the receiver or the bank upon the deposit we had in the bank when 1t failed, which was about $i4i, 900, and the present receiver says that there will be at least an ad- ditional s per cent dividend. which will pay one-half of the principal Of the deposit.
 "As to the Arkansas Railroad mat ter. in which 1t Is claimed that l useo s5. .000 of the Endowment Ranks mon ey in my own interest to bribe the Arkansas Lsgislature: Th'k is not only false, but ridicuions never made any statement as to brtetng the Arkansas LeKisiatMre, neither did use s5 Doo or any other amount c< the En- dowrnent Ranks money fn naS Interest if, the railroad venture referred to. did loan 5000 of the Endowment Ranks money on q note executed Dy one of the men interested in the rail road enterprise. The principal ana ih- terest of that note have been paid.
 AS to the ClAifl kIiAuS VA - SNH~ of S5, ,o00 with the law firm of Geedhart and Goodhart of New Yosk. have no knowledge of any such transactt0n.
 As to the investment of Endow- ment Rank funds in Lexington Hotel bonds. they were purchased at various times. Before purchasing any of them I conferred with men in whose juds- ment as to their value I had entire confidence. They were bought for less than par value, each purchase report ed at the next meeting of the Board of Control and approved by the Board and for some time we received our in- terest promptly at the rate or 6 per cent. After the default in interest by the Lexington Company, and foreclos- ure proceedings were instituted, we were compelled to invest additional amounts, which were also reported to the Board and approved by 1t. be- lieved at the time that the investment was good, and still believe that with time and proper management the en- dowment rank will receive the par value of the bonds. do not claim to be infallible; may have erred in Judgment in their purchase, but, if so, with honest and pure intentions.
 'T am not indebted to the endowment rank to the extent of one cent and have not used any of its funds for my personal benefit. either directly or in- directly"