New Britain herald., 1926-02-17
GILPATRIC SAYS
 ALL REGULATIONS
 WERE IN PUTNAM
Makes This Reply When Ques- tiOned Today Relative to
 Status Of State Bonds
HEARING TAKES ON TONE
 OF FRIENDLY DISCUSSION


 Held In Bank OTiccs-Gilpatric
 Says All His Irregularities Are
 "Undcr This Roof' And He
 Wants To Aid In settling Various Problems.
 Putnam, Feb. 17 lR'-Back in the bank where he was once q trusted cashier before his cmbcz1loment of more than half d million of dollars which wrecked the institution, G. Harold Gilpatric, former state treasurer, today continued his effort 10 aid the creditors of his bank rupt estate in clearing his tangled affairs.
 Appearing before George NJ. Cof. fin, appointed receiver of the First National Bank of Putnam, after that institution had crashed in 1924, Gilpatric, who is now under q fifteen year sentence at Atlanta prison again was questioned regard ing the financing which brought .about his downfall.
 Friendly Atmosphere
 Gilpatric when he appeared at the bank this morning, spent sev- oral minutes in meeting old ac- Quaintanccs.
 Receiver Coffin had made every cfrort possible to surround Gilpatric with a friendly atmospherer in the directors room Of the bank where tho hearing was held.
 StenoGraphcrs who once worked with GiDatric were seated at the table. When the names of those who sat near him were mentioned by Receiver Coffin, Gilpatric said he could visualize the scene and that he felt perfectly at home.
 Advanced S2OO,OO0
 Receiver Coffin opened the hear ling by questioning Gilpatric regard ing the lattcr's connection with John J. Burns of Hartford. The former banker said he was of the impression that he had advanced al least $20o,o00 10 the Hartford man in connection with the Trumbul Market in that city. Gilpatric said he continued to advance money tc Burns hoping that each loan would nc the last and that the tide womb turn" The receiver informed Gil .patric that he had sold tho Burns property for $I26,00O but that the sale ncttcd tho estate but $50,000,
 The hearing as if developed, haC the appearance more of q persona S conversation between the receive and the former banker than that 0 q formal hearing.
 The MOnSOn Deal
 The receiver asked but few dircc questions but by suggestion dre7
 much information from Gilpatric { Taking up claims of the Monsor S CMass.) Worstcd company, Mir, Cof f fin suggested that Gilpatric's opin s ion that hc had loaned S100,o00 { z the concern was too high, The re a ccivcr said he had found that tn [, Monson claim should he approxi ( mateIy S570o0. Gilpatric turne : to one of his former employees wh ,Sat at his side for information O C the matter and they discussed tn D. IoueStion of the NOnson concern 2 e if they were again employer an = .cmployc, Gilpatric said he ncV' is would have advanced money 10 tl c Monson company if it had not bee ,- for two permanent commission me l. in Now York wro agreed to af d vance the necessary funds to tf ic promoters Of the Monson compan
 The Robert Machine Co. tt The Robert Machine Compar l. claim was then taken up. SO Gilpatric stated that ha was und' ,c inc impression that he had advan lc ed $l0o, ,00O to that company. / d the receiver explained the financi ,e condition of the New York and Ma nc sachusctts corporations under Y le Robert name Gilpatric smiled al 10 then appeared to he thinking dee nc ly. The receiver stated that he hi r found a note for s5,N0O signed W Nr. Robert, that the note had n
 been paid and that action, had bo
 brought against Robert Gilpat'
 said he new nothing about an agre CT mont whereby the Massachuse' a. corporarion should issue stock to -t- creditors of the New York corpor ay ton.
 an The receiver then took up { nc matter of loans to the Vito Co ed --