The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1906-10-17
.BERRY'S DEALINGS
WITH REPOSITORIES
"Reform" State Treasurer in Busi-
ness Along "Practical Lines"
soRRows or STATE DEPOSITORY
Startling Revelation Of Tactics Worse
Than Those Which This "Good
Man" 60 Long Condemned In

Than Those Which This "Good
Man" SO Long Condemned In
Others.
Mr. Berry, who is a sanctimonious
'holier than thou individual" who has
been making all sorts of charges
against Republican officials and who is
now on the stump for Emery and his
colleagues on the Democratic state
ticket. has been shown to be as prac-
teal as the most practical of the pro-
fcssional politicians and he is, in the
vernacular of the machine politician,
'out for the stuff"
Berry is a member of the state board
which designates the repositories OF
state funds and besides has in his
power the right to draw from or add to
any deposit in any banking institution
which carries a deposit of state funds.
When Mr.. Berry went into Office as
state treasurer, the Harrisburg Trust
company carried state deposit of
about 100000. Since Berry has been
treasurer this sum has been jumped
10 over 100000.
Berry at first applied to Baltimore
Surety company to so on his official
bond, bit he discovered that it would
fost him about $2500 year for bond
which would have eaten up a good
portion of his salary. About this time
negotiations were opened with the
Harrisburg Trust company, which fin
ally went on Berry's bond for S5O0,OOO
for a mere nominal sum-"
Good Thing For Trust Company.
The trust company does not appear
to have lost anything by that opera
ton.
It's deposits of state funds have
grown to great proportions, and it has
been honored by the state treasurer in
the capacity of customer in the loan
department
The Fields Brick company, of Ches-
ter, is a concern in which State Treas
urer Berry is heavily interested.
The books show that the incorpo-
rators of the brick concern were Will
liam H. Berry, of Chester, so shares;
Holstein II. Fields, 25 shares, and John
W. Fields, 25 shares. William H. Ber-
ry appeared as treasurer. The charter
indicated that Mr.. Berry's interest was
for cash invested, while that of the
Fields brothers was for real estate,
good will and personal property turned
over to the corporation.
Mr.. Berry makes these admissions:
THE Field boys had a brick yard
in Chester. and were hard pressed for
money. l agreed to take hold of the
thing and put up $4,000 in cash
against their property, and we formed
a corporation with $4,000 capital,
taking so per cent of the stock.
81 found when l came to look the
plant over that a railroad siding was
necessary. To get this siding put in
it was necessary to buy lot of land.
| did not feel like investing in any
more stock, but I was willing to buy
some bonds. Others were willing to
take bonds. So the $4,000 corporate
mortgage was executed to the Harris
burg Trust Company as trustee of the
bonds"
How did. you come to select the
Harrisburg Trust Company in the
transaction"
We'll, that seems to me the only
thing in this transaction that may
seem peculiar. The fact is that didn't
want it to leak out that l was after
land. That is the only reason l did
not go to a Chester trust company.
The Harrisburg Trust Company agreed
to finance 1t. and l went ahead to get
my options. We bought 30 acres Of
land, and we only intend to actually
issue 100000 in bonds. There will be
an acre of land behind every bond"
Berry's attempted explanation that
he went to Harrisburg to negotiate the
loan so that the fact would not be
known in Delaware county, and pos
sibly raise the price of land which
he desired to purchase, fell very fiat
when it was revealed that all of the
details of the transaction were attend
ed to by the Delaware County Trust
Company and the recording fees were
paid by it.
Why Berry should finance his deal
from a Harrisburg state depository
because he wanted to keep it secret,
and then go to his own town and have
the searches made and the deeds re-
corded, is something that puzzles Off
cials in Delaware county.
Moreover, the records show that this
Delaware County Trust Company is the
holder of an original ironclad first
mortgage for $4,000 on Fields Bros
brickyard.
If, as Berry says, there are 80 acres
of ground behind the 100000 in bonds
which Berry says will be issued under
the $4,000 mortgage, the records do
not show it. They do show that the
original yard of Field Bros, comprised
eight acres. Against this is the $1600a
mortgage.
The other new purchase besides the
five acres from Laidlaw, as shown by
the records, is five acres from Evelyn
Sibley. The total value of the laud
acquired since State Treasurer Berry
turned the concern into stock com.
pany and then placed his $4,000 mort.
gage, is $9750.
This is all the land holdings of Der.