Putnam patriot., 1926-02-19

balance of SlOO,0O0 "to play with as | wanted to-"
 Hope Not Realized
 Gilpatric said that when the crash I came he expected to sell the Hartford | property and make restitution of 1 bonds taken from envelopes. He nam ed a number of people whose bonds he had taken and told how he replaced the fact that he had means of his own, saying that he had s40,000 come to him in 1923 and during the last five years had a fixed income of at least sl5,000. He had lived modestly and that his home expenses were not over $50 a week. He owned good home. but it is not the palatial residence shown in a newspaper when a reporter took picture of the house across the street. he said, laughingly.
 State Has All
 When asked if he did not think that the state has every bond fl paid for Gilpatric said .'l would say that is so" At one time. when his memory failed, Gilpatric said: ''l was trying to dc one hundred things and not do- ing any one of them" He told of talk ing seven of eight thousand dollars in bonds at one time to put up as security in a Hartford bank for loan for Burns.
 No Light
 Mr. Coffin said that the bank had claims against Gilpatric's estate of S363, ,298, including about S200,000 safe keeping" claims. and that two other claims being approved brought the total up to S393, ,29s. We are try ing to find out where this went to, said Mr. Coffin. Gilpatrfc said he nev- CT considered he owned the Burns property but only held 1t as trustee. Of the S3S3. .29S. only S246.000 has been accounted for, leaving the dispo- sition of Sl37, 900 still a mystery on which Gilpatric shed no light.
 Clearing House
 Gilpatrie said that he used the states bonds as a clearing house. taking them to adjust other claims as 1t became necessary. When somas= one wanted theirs 1 would borrow, Co use that expression he said.
 Gilpatric also told of the over sub scription of the Liberty Loan drives but said that many who pledged to take bonds never paid for them but that as they were ordered by the bank the bank had to receive and pay for them.
 As far as appeared little new infor- nation was gained during the day Some matters appeared in new angle which will cause further investi- gation by the receiver.
 Thursday's Session
 In opening the session Thursday af- ternoon at one o'clock, Mir. Coffin asked Gilpatrie If, since he had thought the matter over, he could throw any light on the $47 600 worth of bonds used to make restitution to the bank. Gilpatric then went into statement in which he said that he did not think he had accomplished all he ought to have accomplished. That he hadn't been able to bring things as close together as he hoped.
 Mystery Loan
 Mr. Coffin dwelt at length on the Gilman loan of $50 ,000 which he al. i luded to as d mystery, saying that It was not Gilpatrie's bonds that were used, nor the Bradley bonds, as he had learned since the day before, nor bonds of the bank. Where did they come from?" asked the receiver.
 It was learned from Mir. Bradley at the time the Gilman loan was nego- tiated all of his, Bradleys, bonds were in his safe deposit box. and 1t was not until some time later, al the time that the bank removed to temporary quar- ters during alterations, that he turned over S64 900 in bonds to Gilpatric for safe keeping.
 No Impelling Emergency
 MT. Coffin spoke of the $200,000 state bonds purchased m lSl9 which were never turned over to the state, but which were kept for eighteen months, during which time interest was paid on them. He asked Gilpat- Tie whether there was an impeiilng emergency that led him to use the bonds at that time. Gilpatrie said he didn't think there was any.
 May Recover From State
 Much of the ground covered the day before was gone over agaln to see II Gilpatric had refreshed his memory. Mir. Coffin said that he persisted ln this because he represented the cred Itors of the bank and was anxious to discover what became of the missing S9l .000, only S30,000 of which had been tentatively accounted for. He said that if he could prove that the state has bonds that the bank paid for with it's funds, recovery can be had from the state.
 Matter of Psychology
 "As a matter of psychology, said Mir. Coffin, what possessed you to keep those S200, ,000 state bonds 50 long?'
 C.ilpatric said he didn't know. He thought they were put through banks and the Federal Reserve Bank.