The Washington times., 1905-01-28
APPLEYARD HAS
NOTHING To SAY
Does Not Seem Distressed
Over His Arrest.
LAWYER EXPLAINS CHARGE
Says That the Term Larceny" is oniy
Used in Warrant as Tech
nical One.
LAWYER EXPLAINS CHARGE

BOSTON, Jan. 2S.-Arthur z. Apple
yard, for whom a warrant was issued
in Buffalo yesterday, charging him with
grand larceny in connection with the
wrecking of the German Bank, of Buff
falo, refused TO make any statement al
his home in Brookline this morning
He did not seem distressed over the in
cident, but declined to state whether he
would return 10 the jurisdiction OF the
Buffalo court, and referred all inquiries
10 his attorney, F. H. Williams
MIR. Williams talked frankly about the
matter. but said that no definite infor
nation had reached him from Buffalo
concerning the alleged issue OF the war
til this had been done he could say
nothing as 10 his course of action.
Term Larceny" Is Technical
"Of course. you will understand" he
said, that the term larceny as used
in this instance is q technical one. and
is based, according to newspaper reports,
on the alleged worthlessness of certain
securities pledged by Appleyard for
loans made him by these banks. No one
believes. nor is anyone expected 10 in
fer, that Appieyard has been stealing
from banks or any other source
Mr. Appleyard is very busy getting
his various enterprises into shape, and
the Buffalo depositors will, 1 hope, see
that it is 10 their interest TO let him
that they viii get their moEey more
quickly by allowing him full scope TO
reorSanlze his enterprises in d salts
factory manner than by hanlpering him
by restraints. At all events Mr. Apple
yard is not doing any running away.
We don't have TO hear from Buffalo 10
announce that
The first step taken by Arthur E.
Appleyard, looking TO the control of
Washington banking institutions was his
| instructions TO local banker. last July.
to open negotiations for the purchase
of q controlling interest in the Citizens
National Bank. the price limit per share
being fixed at $3.50 After some dickcring
a trade at S270 a share was agreed upon
but when Appleyard wanted his broker
TO negotiate a loan of S2l5. .le6 with which
to pay for his purchase. the broker de-
c1incd, and Withdrew from further
transactions with Appleyard. For the
time the Citizens Bank was left out of
the Boston finaneier's plans
About a month later, however, he
came to Washington and began negotia-
tions for the control of the Traders
National Bank, with the final result
that he purchased about eleven hundred
shares. He deposed the president, Mr.
Hennfng. and in his place brought H. NJ.
jerks, of Boston. Appleyard's control
was but shortlived, for in a little over
four months his interest was repur-
chased by men fully identified with
local interests. and by them and in the
furtherance of the city's best interests
| the Traders National Bank is now con-
trolled
Sold His Holdings
After Appleyard had been esta bIished in
| control of the Traders, he again turned
his attention To the Citizens Bank
| This time he was more successful, for
| he bought 2.700 shares held by President
| Stevens and his associates and put
| George ID. Appleton in as president. Not
! long after this transaction Mr.. Stevens
| organized the Commercial National
Bank, and then Appleyard engineered
| the consolidation of the Citizens witt.
the Metropolitan Bank After having
| been in control about two months. n
| sold his holdings TO E. Francis Riggs,
/ and thus ended his meteoric career In
| the local banking field.
II can be stated, in conclusion that
not one dollars worth of Appieyard' s
paper is held by any of the banks with
which he became identified here. and
| whatever indebtedness he incurred te
/ any of these institutions has been dis
| charged tG the last cent.
/ For that cough take Piso's Cure for Con.