Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-12-20

ments while the charge OF actual Gu
pIdity Is acquiring general credence
among depostors
A friend who has known him for
many years glve the following today as
the best analysis and explanation he
could make OF the situation.
"The first charge made was In the
discovery that Schettler had decided
property AN over TO the state ITO stray
relatives who could keep II TN the
creditors ceased to demand their
money" This charge was cleared up
by Mr. Schetter in explaining that he
had been doing a loan business end
the deeds merely represented property
returned TO the people who had Pledged
H. upon their payment Of loans The
charge Of transferring property to his
wives recently cannot be construed as
evidence Of Intent TO defraud, II one
understands the fact that these wives
have lived on the property and held IL
tie to II for many years, but that they
only had the titles recorded this year.
and the further fact that the recording
OF the titles came as the result OF
suit by Elizabeth Livingstone to recov-
er the property to It's original owner,
from whom Schettler purchased Il, and
not on account OF the banks condition.
The final charges OF receiving money
up TO the last minute and Of having
oyerrated securities are not susceptible
OF construction as evidence Of Grimm
ality If the fact Is realized that the ac-
tu0l insolvency came by action Of the
secretary OF state after a dispute run
ming over a year as to whether.or not
Schettler ought to continue In his bus
mess. and that had It not been for this
suit the bank would have continued
running as II has done without proper
business foundation for several years
past. The high valuations on stocks
were entered In Schettler's books many
years ago, and he claims has undergone
no changing or lifting 10 aid a recently
developed situation The big oyerdraft
OF Schettler, unsecured, seems 10 have
no available explanation, and the best
that can be hoped Is that he viii make
good his promise 10 "pay II IN az once"
Mr. Schettler when seen this norm
ing said. "The affairs OF nv bank
are absolutely straight, and Il win vet
be proven So AS to the property deed
ed TO my wives, not one inch OF that
property has ever been connected with
the bank. or has ever appeared as a
bank asset. over 20 years ago. before
| ever thought Of going into this bust
ness, ! made those homes for my wives.
ard decided them to them The pro-
perty has been theirs ever since They
did not file the deeds as the deeds were
made to prove their title In case
should die. but the records show that
the deeds were made 20 years ago.
Since then | have never uoed the pro-
perty in any connection with my busl-
moss, or considered that l had any
claim on IT,.
AS TO my overdrwn account, have
never drawn any salary, and the over
draft is a bookkeeping technicality.
had a personal account with myself
and I credited to II money that came
to me as fees or commissions, and drew
out as q salary what money I was
forced to spend for my maintenance
My 0verdrgft represents all the money
! have had out Of the bank, personally
IN compensation for my labor and time
The sum represents a long period Of
drawings, and is no oyerdraft. Had |
entered a salary account of a nominal
amount, and credited IT, as Is usually
the case, the sum would have been
more than covered"