The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1908-10-22
CHELSEA BANK S
DEBT IS GUT
s326,000


from rage Onc.J
business. He testified that he entered
the stove company's employ at II, had
mastered Its details in year and was
made first vice-president and q men,
her OF the board OF directors at lS.
He also had partial charge OF the sales
department and drew salary OF ST.
500 from the company and was paid
$1,000 on the side. by his father. He
was married when he was 20. his IA
Their selling" him a fine house, which
he paid for with four shares of the
Chelsea bank book stock he had saved
from the money given him by his IA
Their. At times he carried on his per-
son as much as 81 500 at time.
The third gasp-producing incident OF
the examination was the allegation
by young Harold that Banking Com
missioner Henry Nj. Zimmerman VS.
TIED the Glazier home at kavanaugh
lake and suggested a method whereby
the transactions OF GLACIER with his
Chelsea and Dexter banks might be
made TO appear right.
In the testimony or Harold. IL IL
declared, attorneys for Frank r.
Glaxier plainly displayed one line OF
defense on which they hope to clear
their client In the criminal proceeding
set for trial In the lngham county
court next month.
The statement Of Harold Glazier In
regard to Zimmerman came at the
very conclusion of an all days exam
nation of members Of the Glazier
family In an attempt to reveal hidden
assets OF the bankrupt. Attorney
Walter Z. Oxtoby, OF Keena. Light
ner & Oxtoby, representing the Sc
curity Trust Co, trustees OF the as
tate. had completed his examination
of Harold. Questioned by Attorney
Sawyer of Ann Arbor, representing
Glazier, brought out the sensational
statement of the son, the very APP
parent intent OF the attorney being
to place the matter on the bankruptcy
records.
Harold 10 Quizzed.
your father at one time owed the
Dexter bank q loan OF $4,000. more
than he was allowed under the law
to receive from the institution ask
ed Attorney Oxtoby.
He did," replied Harold.
did Banking Commissioner Zim.
norman come to kavanaugh lake ana
In the course Of the visit tell your
father that this loan was not lawful
and recommend that he divide the re-
sponsibility?" 4
Yes, sir"
do you mean to say Banking Com
missioner Zimmerman knew that that
loan was divided between you, MI
nor, your mother and sister," Oxtoby
interjected
He directed IT,"
do l understand you that Banking
Commissioner Henry M. Zimmerman
advised and directed that these notes
be executed and placed in the bank"
Yes, sir"
Did Zimmerman know you were q
minor at this timer"
HE must have known 1t. didn't
look to be FL years Old"
What possible purpose could the
commissioner have had In recommend.
Ing the division Of the note?"
II understood that he didn't want
the books OF the bank to appear that
way and wanted the paper given by
my father taken up"
Harold testified that the unrecord-
ed mortgages were held from record
at the suggestion of Mr.. Zimmerman.
He said he kept no bank account.
vera's Swift Rise.
Vera was equally interesting. She
gave her age as 90, and said that she
was graduate of the Chelsea high
school. At II years she became her
ather's private secretary and assistant
cashier OF the Chelsea Savings bank.
As assistant cashier. Vera testified,
she received S25 a month, but receiv-
ed 500 a month from her father on
the side. She then went to the stove
works at $40 a week and received as
usual the 500 per month additional
from her father. She wrote his let
tiers on the typewriter but took no car
bon copies unless the letter was Of
importance.
According to her testimony, Vera
kept her fathers check book. These
she said were single deck books. Once
q month she checked up the returns
to see II they were all In and then by
her fathers orders burned them. The |
check stubs suffered the same fate
and the bank books, when they were
she never kept a bank account. She |
In a vault at the bank and when she |
got any cash It went into the box and
not into the bank. She had at all
times several hundred dollars on hand |
In this box, and when the bank failed |
she took her property from the box.
Didn't Want Him Worried.
Mrs. Frank p. Glazier said that at |