Sunday morning globe., 1901-10-06
Great Heads
Have v. P. ROOme and Special
Agent Parker.
THE AMERICAN SAVINGS BANK
Another Interesting Chapter on Surety and Guar
antse Companies and On How 10 Do Up a
Rral-The New Receivers for Tho Bank -
Some Prospects Of Div" for 0opOSIiOrS-
Advised Not 10 Expect Too Much

ADVISED Not 10 Expect 90 MUCH
The article In these columns Sunday
last, on the American Savings Bank
suspension, caused two additional re-
ceivers to be appointed by the court
This action was timely and will, it is
to be hoped, save the smaller depos-
itors from entire loss. AS stated, for
weeks The Sunday Globe was in pos
session Of facts which II published
would undoubtedly have caused a run
on the bank, and while such publicity |
might have saved a few Of the later |
depositors. we did not feel like assum- |
ing the responsibility Of the possible
injury Of a financial institution. That
we were on the inside may be CLEANED |
from the fact that one Of our inform
ants served as confidential secretary
and typewriter to Mr. George T. Par
ker. Washington agent Of the Union
Surety Company of Philadelphia, and
whose Office and connections with Mr..
William o. Roome, president Of the
bank and vice.president Of the Union
Surety Company, we're dwelt upon last
Sunday as being close and semiidenu-
cal This young gentleman, to whom
we now refer as one Of our intormants,
served as bookkeeper to the Hobson
contract until It passed into the hands
of the bank and Mr.. Parker He is OF
unimpeachable character and integrity,
and has occupied responsible mercan-
tile positions in this city. After the
Hobson contract had been gobbled up
and its profits absorbed with the high
salaries paid the employees who were
substituted for HObsOn's, this young
gentleman continued in the semi-em-
ployment OF Mr. Parker and associates,
while his remuneration has not been
. according to the promises held out to
him by Mr. Parker. he has no financial
claim against that gentleman. He has
/. neither grievance nor bill to air or
present. and tells a perfectly straight
. forward tale Of this most eXtraordi-
nary conjunction of a savings bank, a
surety company. a weekly publication,
and fat contracts. For instance, Mr.
Parker drew a salary Of $25 per week
for the trouble Of making out checks
on the Hobson contract. This was a
nice salary for light, congenial work,
but when it is recalled that these
.. checks could not or would not be cash
ed by the American Savings Bank
when presented. the salary seems to
have been "a superfuous slnecure.'
Appears to have been is the proper
expression, for be it remembered that
the checks could be and we're cashed
by accommodating discounters, among
whom were Mr.. Parker himself, Mr..
Harris. Mr.. Powers (the cashier Of the
bank) and others in the swim And
all this time the HobsOn contract had
b 500 900 to its credit in Mr.. Roomes
b bank! The $4,000 profit guaranteed
and bonded to the American Savings
Bank for this loan will come up later
on, and there will be music, inasmuch
as the extraordinary salaries paid Mr..
Roome's relatives and friends and Mr..
Parker his relatives and friends, and
Mr. Nick Haller as architect, eat up
these profits which would otherwise ac-
crue.
This morning, however, The Globe
' has a new and unique chapter to add
to the enterprise Of Mr., Parker whose
sagacity and superior business qualii-
q cations have enabled him to lift a
monthly income Of from $500 to ST.
600.
b 1t appears that Forrest r. Vrooman,
. who was manager here for the Nation
al Surety Company OF New York, lost
( his position with that concern. Mr..
Parker speedily demonstrated to Mr..
Vrooman that he could make himself
quite valuable to the concern OF which
he (Parker) is the special agent and
Mr.. Roome is the vice.president. Vroo-
man had a list containing the names Of
the distillers which the National Sure.
ty Company bonded These bonds net
ted the National Surety Company from
a minimum Of $40 to a maximum OF
500 each distiller. The National Sure
ty Company had, It is estimated, two
thousand of these valuable customers.
This sum annually from the distillers
was not to be sneezed at. It amounted
to a pretty figure, and Mr.. Parker, as
special agent, and Mr.. Roome as vice
president OF a rival surety company.
we're naturally anxious to secure IL.
Hence, Mr.. Vrooman's lists OF over two
thousand names were secured, under
the promise that any customers Sc
cured by Mr. Parker from the lists
should be paid for In reasonable or
fixed sum. Mr.. Parker thereupon iol-
lied Hobsons bookkeeper (our inform
anti into running his typewriter every
evening for almost a month until 10I
p. NJ. or thereabouts, writing a circu-
lar letter to these disullers iH VrOO.
mans name and over VroOmdn'S SIG.
nature. The letter, in substance,
stated:
Having severed my connection with
the National Surety Company, I am
pleased to announce my connection
with the Union Surety aud Guaranty
Company OF Philadelphia, Pa. office,
1907 G street n. w. Our rate for each