The evening world., 1913-01-27
make Good" He Said, When
Teller Stole Amount, Then
He Wrote Check.
STORY HID SEVEN YEARS
Secret of Eight Directors, Who
Trembled at Crisis, Told
To-Day in Court.

Seven years ago--in January. 1s0S-
the Guardian Trus; Company faced
crisis In It's career. A paying teller had
to the extent Of $4,000. The
State bank examiners had discovered
the serious shortage IN the trust COM
pany's accounts. and had handed an
ultimatum to the board OF directors to
the effect that unless $4,000 were put
back into the company's Golfers at
once, the fact OF the shortage would be
made public. and every one knows what
happens to a banking institution when
It's deposltors learn that large sum OF
money has been stolen from their de-
pository.
On the night when the examiners
threw their bomb among the trust CON-
pany's officers. the Board OF Directors
was summoned to meet secretly behind
the locked doors OF the directors room.
to find a way out OF tho desperate
plight. Frank w. wooiworth. now the
wner OF the tallest building In the world
as a monument to his name. found the
way out.
MAKE GOOD - HERE'S THE
AMOUNT" SAID WooLWoRTH.
What shall we do?" asked the har-
assed chairman of the board.
"Do?" replied President woolworth
There is only one thing to do-make
good that shortage at once"
"How?" queried several of the mlser-
able directors breathlessly, at the same
time.
For answer Mr.. woolworth drew from
his pocket a fountain pen and his check
book. AS he bent over the long maho-
gany table, the whining scrape of his
Den was the only sound In the room Of
secret finance.
Mr.. woolworth stuck the cap back on
his pen, tore out the check he'd Just
made out. and handed It to the treasurer.
Here's my personal check for the full
amount" he said. Deposit II the
moment the bank opens In the morning
and send word to the examiners to-
night. Good night. gentlemen"
The next day the bank opened for
business AZ usual. None Of tho thou
sands Of dcpositors who do daily busi-
ness with the institution ever knew
that there was time when the sound,
respectable Guardian Trust was hover
ing on the brink OF possible" disaster.
They might not have learned OF II even
to-day, and the resource and courage OF
Mr.. woolworth might never have been
made known had It not been for the ma
chinery Of justice In tho courts. which
compelled the narration Of the details OF
this crisis and the manner In which II
was met.
OFFICERS and directors Of banking In
| situations never like to have the pub
| lie know they were ever In peril. For
| that reason the secret Of the crisis and
of that portentous meeting have beer
locked as securely In the breasts OF the
| nine directors as has the coin on deposl,
been immured In the time-locked vaults
Even Charles l.. Levy. one OF the nine
| directors who heard the scraping OF
Mr.. Woolworth's pen over the face ol
| that God send check. declined to tel
OF the event. though he feels himself
| aggrieyed by the treatment he has since
received from the trust company. unit
| he WAS explicitly ordered by the cour
to tell under oath Of the entire trans
| action.
LEVY quit BRINGS CRISIS Tc
! LIGHT IN COURT.
Mr.. Levy Is suing the trust compan!
Ia recover Sl.4ss.Os, plus the interes
since July, 1906. For Ave years his sui
has been hanging fire, IN one form o
another. in the courts. and not a wor,
has been spoken by either side ~ I,
how the trust company Is alleged Il