The Alaska citizen., 1911-02-22

banks Banking company took place about March. 1908 At that time m stock in the cid bank amounted to $2"o.ooh. which I agreed to leave until March l9h9 or one year from the reorganization. Before that year was up and during the sum- mer of 1908 the Causten case was pending and the directors were un- easy, fearing the bank would have trouble. In order 10 satisfy the dir ectOrs f my gold intentions towards the best interests of the bank, agreed to leave this s200.OOo on de- posit one year from the time the CaEston case was settled. This case was settled August 31. 1908 To the best of my recollection, I think Mir Dusenbury once brought up the matter of my drawing out this money in March 1909. as per my first agreement, which he argued w.uld work a great hardship on the bank, as a that time of the year loans were heavy and cash on hand and Outside exchange was always low. l think asked him what would be the best time for the bank to pay me and he suggested about October. l then agreed to let 1t he on deposit until then. compiled with all of these terms and on No- v"mher ?. 1909, had this s200,O00 transferred into the savings depart ment f the Fairbanks Banking com pany
 On Apr.I 19. 1910. transferred from the savings department to my regular account the sum of s30,O 900 Then on May 2. 1910. I transferred 70 l,aln T n rent account. The bank passed to ms credit S3.440. being interest on my savings account. which was al lowing me six months interest on $170."oo. Later on I spoke to Mir Jackson about this. and said. that while l had drawn this 900 out foumeen days before the actual six months was up. being that it had been on deposit so long. consid- cred l was at least entitled to six months interest on the total amount He felt the same way. and September 30. 1910, he gave me ere ii for sGo0 same being in terest on $3o,000 for six months at i per cent.
 The Causten case was settled August 3l 1908. and my agreement tN leave the money in the bank one year from the time would bring it 10 August 31, 1909 I did not draw cent out of this account then. and left ii in the same account over two months. or until November 2. 1909 Even then l did not draw it out but transferred it 10 the Savings department. In reality did not draw out any of this s2OO.OO0 until April It, 1910, which was about nineteen and a half months after the Causten case was settled. I then drew the s300OO out heretofore mentioned.
 From May ?. 1910. the date of transferring the s170,0O0 to my reg ular checking account, this money was drawn out at various times in various amounts as l needed it for different purposes, and I only drew the last of it out just before I left for the Outside. October 2. 1910. During this whole period, was depositing to my regular account sums of money that I was receiv- ing from many sources of income had, and was also checking against this account continuously. There hos never been a time since the reorganization of the Fairbanks Ronking company that have not had a credit at the bank.
 Gold Bar.
 In the reorganization of the Fair. banks Banking company one of the main assets was a four-fifths inter- est in the Gold Bar Lumber Com panv. This was taken over at s341 GOO. Before this was taken over committee looked up the value of the same. A telegram, fol- lowed by a letter confirming same, received bv this committee from the Dexter Horton & Company Bank in response to inquiries as to the value of the above is hereby given.
 The DexterHorton & Company Bank was this committees own choice of source of information as to the value cf the above stock. MT. Hill, being most familiar with the Gold Bar property, handled the details of the taking over of this stock by the re-organized bank Mir. Wood at that time was on the Outside and knew nothing of the details of the reorganization until later on.
 March IS, 1908 Fairbanks Banking Co.,,
 Fairbanks, Alaska
 StHlItlltu--Ne uulf TecelNeQ your telegram of the 14th inst, as fol- lows :"Please advise by telegraph at the earliest possibility last reli. able report of valuation Gold Bar property. What is the opinion of yourselves regarding report? Wood will explain what we mean by Gold Bar property"
 On receipt of your telegram we immediately secured what informa- tion we could concerning the Gold Bar Lumber company, including a statement made by that company dated October 12, 1907. We later secured from MT. Armstrong; man. ager and treasurer of the company, an itemized statement of March 1. 1908. toeether with copy of the company's trial balance of that date.
 We have made careful examin- ation of the statement and taking it for granted that the figures in the statement are approximately cor rect. we have arrived at the con- clusion that the company is in excel lent financial condition considering the present financial and business conditions prevailing throughout the country. After eliminating all resources with the exception of camp equipment, lumber and logs on hand, mill plant, cash, real es- tate, merchandise in store and ac- counts receivable, and with these