Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-08-05
CONTRAST IN MOODS
OF BANK DIRECTORS
Schwartz Knows Little, but
Talks Freely Schaffer
Holds Tongue
GOT ORDERS FROM FISHER

Personalities of the various directors
of the North Penn Bank show vast
difference.
This is best shown by a comparison
of William T. Shaffcr and Jacob
| Schwartz. two of the directors.
Both say all the money they had is
| tied up in the wrecked institution. Shat
fer is busy at work earning more. while
Schwartz wonders if he can dispose Of
a lot of wood held over from the mild
winter of last year and help the other
depositors.
The nest egg on which Schwartz and
his wife are pinning their hopes-both
are we'll on in years now--is a paltry
$500 and their stock in the bank, the
last subject to an assessment of twice
its face value.
Schwartz was found on the roof Of an
old wagon shed along the side of his
house at 230S North Twenty seventh
street. His wife and daughter, doing
the family washing in the yard, directed
the way to a rickety ladder leading to
the roof
Sure. I'm Director"
Sure. I'm a director,' Schwartz
confessed but | wish to God I
wasn't"
do you think the depositors will get
| anything out of the bank?'' he asked.
He explained that all he knew about
the banks affairs since the crash had
been cleaned from the newspapers.
Then he stopped talking for a min
ute to place a piece of old wagon cover
| 81 h,ln |,
shed
I've been a director ever since the
bank organized. he said. But I never
did know anything about banking. |
guess they got me because everybody
says l still have the first cent / earned
after coming to this country.
Did I attend the January 8 meet
ing at which the 8 per cent semiannual
dividend was declared? Well, ] really
| don't know, but the records will show.
Maybe I did. The meeting was open
to stockholders also, ! think.
How were dividends declared? Why.
! Meyer read them off and we approved
/ Them he said.
The money I have tied up in the
| bank means much to us he said.
Before the war l was cementing
contractor and business was good. But
hclp became scarce and / had to give
up that business. Last year | bought
up all this wood you see here (pointing
to great piles of cordwood, which al
most completely filled the yard, but
had to keep it over because of the mild
winter.
But I'm going to get rid of it this
year if l have to almost give it away,
and people who lost money in the bank
and need the wood will get first choice. "
Wonders About Meeting
He then inquired if there shouldn't
be meeting of the board of directors
to talk over the banks affairs. He
said he had suggested such confer
ence to Louis Michel, bank president.
but that the latter had said he would
see some of the "boys" before calling
such a conference.
Schwartz, apparently, is not bust
ness man. He is worker. And a
saver. Still at the age of sixty he
! is ready to begin again and help others,
, too. and his wife is willing to do her
share by doing the family wash.
"Where are you going now?'
Schwartz inquired, curiously.
up to see Mr.. Shaffer," was the
; reply.
The directors face underwent a sud
, den change.
please don't tell him ! said any
thing; he might not like it. Good by.
I hope everybody gets their money, )"
he said, returning to his job of fixing
: the roof as the interviewer descended
the ladder to the ground.
"Mr. Shaffer, did the bank direc
tors" began the questioner short
time later in the small but modern
printing establishment of that director
y at the southwest corner of Twenty
sixth and Arizona streets.
81 have nothing to say" he inter,
rupted crisply, hardly looking up from
= the typewriter keys.
l. ''Did the examiners--'
81 said / had nothing to say" tn,
! man who is looked upon as the "strong
man of the board again interrupted.
: "Well, did the bank 60 up becaus,
of crookedness or errors?" the ques
e tioner hastily put in, determined to &c
| at least vane question finished.
It "Mr. Fisher, the banking commits
4 sioner, told me to keep my mouth shut
Il I'm doing It," he replied.
SasA ~ ssas~