Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-07
DISCLAIMS LIABILITY
STATEMENT BY OFFICIAL OF
CAPITAL SAVINGS BANK.
Secretary Says It is No Way Connect
ed With Industrial Building and
Savings Company.

The Supreme Court of the District of Co.
lumbia has been petitioned by Daniel Jor-
dan to appoint receiver to take charge of
the assets of the Industrial Building and
Savings Company and the Capitol Savings
Bank. 1t is further asked that such receiv-
er be authorized to wind up the bust
ness affairs of the defendants and apply
the proceeds to paying the complainant a
debt amounting to S11O, alleged to be due
him. The complainant further seeks to
have the company and the bank disclose
and account to the court for all assets be-
longing to them.
In addition to the company and the bank
the following are named observation-disclosures
H. Douglas, Robert H. Terrill, Henry E.
Baker, John A. Pierre, Leonard c. Bailey
John r. Francis, Andrew F. Hilyer w.
Scott Montgomery, William V. Tunnel
James Storum, Jerome A. johnson, Arthur
5. Gray, John r. Lynch and Douglas B.
McCary.
Both the bank and the company are To-
Gated at 600 F street Jordan says the
sum mentioned ($11O he loaned the COM
pany, and he charges the latter borrowed
1t ostenSibly for itself, but, in fact, for the
purpose of creating operating funds for the
bank. 1t is alleged that the money Dor
roWed from Jordan was placed on deposit
in the bank as part of its funds. The COM
plainant urges that the company and the
bank be made to disclose fully their true
relations to each other, and how they have
conducted business.
In conclusion Jordan saws: lowing to the
fact that the assets, if any there be, of the
company and the bank are so mixed it is
not possible for the compliments at law to
proceed against the separate assets, if any,
of either the company or the bank; that he
knows of no assets of the company and he
believes it has none distinctively separate
from the assets in the name of the bank
Attorneys Leckie and Fulton represent
the complainant.
Statement by Mr.. Terrell.
Robert H. Terrell secretary of the Capt.
tai Savings Bank, has made the following
statement in reference to the proceedings
instituted by Mr.. Jordan:
The board of directors of the Capital
Savings Bank has authorized me to say
with regard to a bill filed in the Supreme
Court of the District of Columbia Satur-
day last asking for a receiver for that
institution:
The public is hereby informed that
there is absolutely no foundation in fact
for the allegation in said bill that the In
dustrial Building and Savings Company
and the Capital Savings Bank are virtual
~ one and the same company The two
Inscriptions are in no way connected in
financial interest, and have never been so.
The Capital Savings Bank IS Independent
of any other organization in the District
of Columbia. 1t has always met every de-
HlStllo Iitue upon II LOT WHICH u WIS re-
sponsibe It's financial ability has never
before been brought into question.
This institution is now fifteen years cd,
and is controlled by coored men, all of
whom have given their time, energy and
money to it's support without any thought
of salary for services. The one hope is
that there shall be established at the ma
tons capital commercial enterprise
built up and supported by colored men,
which will be an object lesson to colored
people in other parts of the country, and
a demonstration to our white fellow cit-
zens of our ability to take part in the
business affairs of the community in which
We live. The Capital Savings Bank is a
partnership. and it's stockholders include
the wealthiest colored men in Washington.
The depositors need have no fear whatever
about their money.
ut is unfortunate that the Institution
it has nothing at all to do. 1t is not in
debted to Daniel Jordan. who filed the bill
in court against it. for a penny in any
way whatever. Neither Jordan nor his
lawyers ever called at the Capital Savings
Bank to make a claim for the alleged
debt of $40, nor have they made 1t IN
any other way. The suit is a complete
surprise and the party responsible for it
will find out before the matter Is settled
that financial institution cannot be at
tackled, even in the courts. without some
reasonable grounds on which to base liti-
cation.
THE directors wish to emphasize the
statements that it is not in anyway con-
nected with the Industrial Building and
Savings Company; that it is not indebted
to said Daniel Jordan. and that the suit
brought by him is without foundation, so
far as the bank is concerned