Kingsbury County independent. (DeSmet, Kingsbury County, S.D.) 1894-1929, 1904-11-11
BAD FOR BANKER
/,
Former President of a National Bank
Under Arrest Charged With


Chicago. Nov. 4.--Declaring hat he
had recognized Isaac ". Perry, former
president of the National Bank OF
North America, through newspaper
photographs. as the man who had pur-
chased time fuses from him, a sales
man for a West Side powder house Is
said TO have reported to Fire Attorney
Thomas Johnson yesterday morning
that he could aid in the prosecution OF
n banker. who is under arrest on
charges of arson and conspiracy.
To Offset this reported evidence a
statement was issued in the afternoon
by N. w. Harris, one of the largest
stockholders OF the defunct bank, CON
graduating shareholders on the careful
management OF the banks affairs by
Mr.. Perry. and expressing thorough
confidence in the innocence of the re-
cent president.
Names Kept Secret.
The name of the salesman and the
firm he represents have not been given
publicity. and Fire Marshal Campion
and Chief of Police O'Neill gave writ
ten orders to .subordinates yester, Z
that no Infringement OF information per-
tanning to this Identification should be
made.
II was discovered, however, that the
salesman voluntarily had told that
when he saw In a newspaper a picture
OF Perry he believed him to be a man
TO whom he sold time fuses q short
lime before the incendiary fire In the
plant OF h Chicago Car and Locomo-
tive company at Hegewisch.
The prosecutors were busy through
tie day attempting to verify the sup
posed identification. The salesman
will be present in Justice C~allahan,s
court Saturday to view Mr.. Perry.
Meantime an effort Is being made TO
find a picture OF A.. X. Perry, a broth
err. to present 1t before the salesman.
The fire inspectors office was open I'M
I'll late last night awaiting a return
OF two detectives who were hunting for
a photograph and other matter.
NJ. w. Harris Letter.
The statement issued by N. w. Har-
ris concerning the affairs OF the bank
and the confidence in Mr.. Perry is as
follows:
Being one of the three largest stock
holders of the National Bank Of North
America OF Chicago, I take the liberty as
a stakeholder 10 state my hearty approval
or the prompt action of the board Of d.
rectors in selling the business of the bank
to the Continental National bank of this
city.
The sensational newspaper articles re-
garding /. N. Perry. the president, which,
! believe. were not at all justified. were of
such an alarming character as to threaten
a run on the bank. with the far-reaching
and uncertain conset lences always there
with connected. Under the circumstance
the first duty of the directors was to the
banks depositors nd stockholders. The
situation was further complicated by the
fact that A. G. Austin, vice president of
the bank, was at the time at home sick
In bed with fever. BY this very prompt
action the directors secured for the stock
holders a bonus OF $3.50. 900 for the good will
and htcinacS Of tho he rL md ~ fha en- mo
time fully protected It's depositors in one
OF the largest and strongest financial in
stituticns OF the west, where they will re-
ceive the hest of attention and where their
assets will be fully ~safeguarded.
The National Bark OF North America.
under the able and energetic manage
ment of President Perry. during it's ex-
istence of less han two years and q half.
had been so successful in its business as
to have secured total deposits of about
S14, 100000, and the measure of Its success
IN above favorable terms. even after the
publication OF the sensational charges
against It's president.
The statement about to be issued by the
directors will show that the financial con-
dition of the bank was excellent at the
time of it's sale, and from IL you will see
that you and each OF the stockholders
will receive a large premium over and
above the amount originally paid into the
bank therefor,
we, as stockholders, may be assured,
and congratulate each other thereon, that
the settlement OF the bank's affairs, with
the foregoing end ell the time in view, Is
in process of being closed up az rapidly
as possible. with special credit to all con-
cerned.
While I regret most sincerely the dis
continuance at this time of the National
Bank OF North America. II is with special
satisfaction at the prompt and satisfactory
way in which the directors have met the
situation confronting them, and witt full
confidence In the innocence of President
Perry of the charges brought against him.
Il am very friilv yOurS NJ w Harris.