The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-04
WORRIED ABOUT NEAL & co.
DEPOSITORS, YOU SEE, DON'T LIKE
HYPNOTISM IN BANKING.
Not Exactly Run on the what.Dy'e-Cai'.It
Bank, Yesterday, but Some OF tho
Folks with Money In II wanted TO Know
You know-so MIR. Neal Explains Again

Not Exactly Run on the what.Dy e-t ali.It
BANK, Yesterday, but Some OF tho
Folks with Money In II wanted TO Know
You Know-so MIR. Neal Explains Again
E. Virgil Neal, senior member Of the bank
tns firm OF z. Virgil Neal d Co., and stock
holder In the Columbia Scientific Academy,
both doing business on the fourth floor OF
the building at 1881 Broadway. called up
THE SUN Office on the telephone early yes
terday afternoon and said:
THAT article printed in this mornings
Sun about the Columbia Scientific Academy
and the bank has caused the bank some
annoyance. Some OF our depositors have
been around this morning to find out what
Il all meant. They we're uneasy. you see,
about the money they had on deposit with
US and we're inclined at first TO withdraw
their accounts. i told them 1t was all
mistake about the bank and Id like to
have The Sun to do something about It,.
A reporter was directed to find out just
what Mr.. Neal wanted done. and to the
reporter the banker explained as follows:
Il didn't care what THE SUN said about
the academy and Mr.. Robertson, president
OF the institution doesn't care what the
English editor, Mr.. Labouchere says about
It, but it was wrong TO mix up the bank
with the academy. There's no connection
between the two
THE sun didn't say there was, said the
reporter. -On the contrary, IL quoted you
as saying that there was no connection
between the two"
Il know that said Mr.. Neal, -but you
called IL a hypnotic bank and that's what
caused me a lot OF trouble. Some OF our
depostors, who read the article, got the
notion that the bank was teaching hypno-
tism. Now it isn't hypnotic bank and 1t
doesn't teach hypnotism and has nothing
tn do with hypnotism. Ii has nothing TO
do with the Columbia Scientific Academy.
happen TO be a stockholder in the acdaemy,
but Mr. Robertson is not interested in the
bank to the extent of a dollar. To be sure.
Mr. Robertson was once a banker, and the
bank il at the front end Of this floor and
the academy at the other, but that's just
q coincidence you know. I'm q stakeholder
in the New York Central abroad. but that
doesn't indicate that the railroad is inter-
ested in either our academy or our bank
Besides, the academy doesn't put out
course In hypnotisn. 1t just throws in
some literature on hypnotism, free Of
charge, with its regular courses
On Monday, Mr.. Neal said he was presi-
dent Of the bank and mentioned the names
Of other officers and the directors. fester-
day he was particular 70 speak of the bank
as being conducted by the firm of T.. Virgil
Neal & Co. He said the members OF the
firm were himself, Anton Masterson lit
was j. ]. Masterson, Monday, {. W. Robbins
and l.. Nj. Wilson. Mr.. Robbins, Mr. Neal
explained on Monday, has no connection
with the Columbia Scientific Academy except
to write glowing letters about the academy's
courses.
asked.
sShe's Miss Lila NJ. Wilson who lives in
West lOlth street." said the banker -acade-
mician. "She used to be private secretary
In the Office Of Redding Kidder a Greeley
Then abe was my secretary for while, but
she inherited a good deal OF money, $4,000
or 900 and now abe doesn't do anything
She invested about IS, 600 in our firm.
How many stockholders have your
the banker was asked.
Upwards Of twenty, and our depositts
amount to about SIS 900. But II you want
70 know anything about us, here's report
on us made by r. G. Dun 4 Co.. which a
friend of mine just happened to send to me
this morning. II was made some time ago
and Ia incorrect in some PARTICULAR, but 1t
will show you something about US. make
It point to tell all our depositors to look up
our rating before they open accounts WIN
us You see, they have nothing TO secure
them, but our individual responsibility.
Mr. Neal read . report from X. u. Dun
a Co. to the effect I at Neal had told the
agency that the capital OF the banking
firm was $4,000, all paid In. The report
stated that the members OF the firm, col
lectively, were undoubtedly worth much
more than S25 goo The report also stated
that Mr. Neal used TO run the National Pro-
tective Association Of the United States.
-What became OF that conc ernf' asked the
tI'm under the impression that it's still
in existence:
what is it1-
.Oh, We uaed to sell insurance policies.
AS matter Of fact, isn't 1t doing bust
ness right here in this buildingF
Some TO think Of il, i believe 1t Ia, re-
Piled Mr.. Neal. But ! have nothing TO
do with II now
sHad any run on your bank to-day''
sWell, not exactly what you might call
run. but we've had calls from several OF
our depositors, who thought OF drawing out
their money after they read THE SUN.
But ! showed them that statement from
Dun d Co., and told them the article was a
(. mistake and that We were all right. Most
y Of them went away satisfied, but some
Reduced their deposits, one by a little more
than 80 per cent. Now. as ] said. | don't
care about what you said regarding the
academy. but I'd like to have il made plain
that there's no connection between tnat
and the bank
II was said nj the Office OF thu State Super
intand.nt 81 Banks yesterday that the
State Bank Department has no jurisdiction
over sucl. concsrns as the 'Bsnklng House
az v. Virgil Neal Co supt kllburn
said at Albany last night: 80 far ~ any
legal supervision Of such conc rms goes.
therc IL none. They can run TIER business
like n grocery store.