The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-02-12
AMALGAMATED HIS RUIN.
z. C. Andrews Talks of His Case
SAYS He Can Pay Out


Detroit, Mich, Feb. IF. c. An
wrecked City Savings bank, was inter
viewed this afternoon for the first time
since the bank closed its doors.
L have not a penny said he, Il am
ruined. But 1 don't worry about my
self All that is on my mind now is to
save the others involved in this crash.
There have been any amount of lies
and miSStatements made about this
matter. They say 1 don't know where
the cOllaterals went to. If they would
only be less frenZied and resume their
ordinary calmness I could explain the
whole situation in less than three min
utes. / did not take the certified
checks all in one day. but successfully.
l went to the banks and exchanged
them for the collaterals, but in most
instance. they had been sold either
through Cameron, Currie & Co, bro
kers, or the State Savings bank
The money 1 got was used TO pay
drafts and obligations at other banks.
There are records of every transaction
and all the cOllaterals can be satisfac-
torily explained.
AS far as Harry Andrews is. con-
cerned, there is nothing especially
wrong about it. He can take mans
note for $500 if he suppOses the maker
to be good. can't he? And if the maker
turns out worthless he has only piece
of paper to show for it, hasn't he?
had plenty of collateral at the time.
It's only a case of Overloans. That is
all it amounts to. If they would only
give me a chance and let me pull out.
/ everybody would get his money [
have got lots of equities and other
things that I have not turned over 20
them vet, but Will do so as soon as they
viii listen to me. I have made all the
money for the bank, now why don't
/ they let me get them out of the hole
That railroad concession alone IS
sufficient to pay for every cent the City
/ Savings bank owes
Amalgamated His Ruin.
My troubles began with the drop
/ in Amalgamated, and accumulated as
( the market went down.
''These. criminal proceedings are all
right but if the fellows think they can
/ get their money by putting me behind
/ the bars for years, where l can set a
rest, l am satisfied.
! Have l any outside debts? I don
owe a penny in Kansas City. Chicago
or any other place, except some money
on stock in Utah mines.
THE people need not worry about the
public funds which We're in the bank.
/ they will all be restored. although il
will perhaps break the directors. who
Will have TO make good the deficiency
At a special meeting today of the
/ board of education. which has on de-
| post in the City Savings bank S46I, coo
| il was declded to elect new treasurer
TO succeed Andrews. who was cashier
| of the City bank. The directors of the
| wrecked bank were on Treasurer An
/ drews' bond and the board will pro-
coed as soon as possible to collect the
banks Indebtedness TO il from the
! bondsmen. Arrangements We're made
TO secure funds from the city treasury
for current expenses.
Receiver to be Named Today.
/ A receiver will be appointed by Judge
| Donovan tomorrow morning for the
| wrecked bank. AT a hearing this after
neon at the chancery court on the ap-
pOintment of a receiver. the county Of
fcers and the local board Of education
opposed the appointment of the Unior
Trust company of this city. which was
the choice Of Banking Commissioner
Maltz and the attorney general The
chief officers and the board Of educa-
tion ma ntal.sed that some Of the OF.