New Britain herald., 1926-03-04
GILPATRIC WILL
 RETURN MONDAY
tcout.a4e4 From First Page)

(cou'.H4eI From First Page) Inc Four.h .aan. T.. aaeoga,an, vas very a,aro4s 0, learning why ,lis vas 4oae, Ul, Ats questions brought ,he r.pOy from Gilpa'r,c fHat he dll ao' renIaatr such transaction a' al. Declaring shat ne did not do4g' Nr ScoFeu's s'a,e. ment. Gjiga'ric sa.i 'haf f such transfer vas made i' ,.as 70 take aI. vantage. for 'te bench. of fae S-'p os a discount 'Gru prcrHJug :g Gonds Of tr. loar,. issue
 Would Have Benefited stale
 Receiver Comr taking ra-' in tn questioning ar '.a' point. Arogr.' out that bonds of ,ha Fo9rh iss.' a, that tima r55. .lI1- at V *tl.. Inc Victory Loan norss ".r. H- lag at par II. shoa %! saa' '.. transaction ~ouI have Hlea 10 '.. altartarc nf me s'afa.
 Two Had Protested
 That tt least 'no m.n .s#p.or, : by the stat. trca'ar,r's ofte,, "h,. Glpa'rlc ~rs ia office. lad prc'..r- pd agaius' 'W methods gsaI ty 'H, treasurer ln his 'rausae'51us na- i0timated ny Mr. S.oyt.I 1T d.s. cussion Of transactions jnVosmE S;5.n1g of the state school fund
 Mr. ScoFsU brought out fha, jh. 'fausariiors took 'hc form of tao mortgages, one from the ,iora' hool for sf"oou and tue o'1,s from Louis V. Ioam for E-i.ua. The correspondence. 'he accountant continued, showed that 'bn 'Ho mortgage transactions differed from Tho usual custom usad in the s'ltr treasury department and trero v#s an unusual inr'rEal betHen 'rs transactions and the recording o' The papers. Glpatric6 eald that q 'Hird mortEage note entered into tNa transaction. from the Fomfrct school for sl6n,G0o.
 Faltcrs in His Reply
 The first tHo 'raueartiogs were combined hy Glpatric and one cheek vas dranu by the state rressurer covering both of them. Mr. 'roven wanted 10 know why this "as done Gilpatric. falterinE in his reply said that hc didn't know. un- oss 1t vas due 70 the fact that the two transactions were similar and that they were both iu tho same sec- ton.
 IL was then that MT Scovrn asked the former state tr,asurer f he re- iuembered that Deputy State Treas urer Charles Sumner had criticized inc methods being used in state linanrial transactions.
 Torgcis summers Protest
 Gilpatric said he did not rcuom- i.r such protest. Mir. ~oogcll 'hrn aked if Gilpa'ric remembered that rharles ". Skinner. in charge of inc a,hooI fund transfers. also had pro- tested 10 the treasurer regarding certain transactions. Again GIl- pntric denied that ho could rcmcm- b,r such an occurrrnca.
 lir. Skinner said after the hearing Hay that he never had the slightest
 i.nIsm 10 make Of Glpatric' <
 udling Of the school fund. and
 rr taI been disturbed over It. H.
 d he attributed 10 delay in the
 recording Of thn papers in con
 ton with tho two mortgages. 10
 tcnn clerks In The towns where s. mortgages were drawn ID. and ". corrosponI,ur" in which he 12ht ID find ou' 'he oxact caus" ot
 s., delays mgs' l, what Mr, Sco- q referred 70.
 Iobn F. Carpenter. ~no repre- #.uls somn Of ihc creditors Of the
 ukrupt GIpa'ric estate, had au- yuuccl that h4 would require three ours for his examination of GIL ,a'ric but uo took but fen minutes rS morniug.
 lie was in."r. s'rI primarily in 'ho 5 sposifiou os bonds and stock. pur- rt3sed through 'ac lEtHum bani; or D the baah for saf, keeping at thc V ime the Institution crashed.
 No More Asset,
 He explained 70 lD" r"f|r'e in l.ukrup,cy that h,= questioning Dul1 no' a5l creditors of tha bank ." recovering los, s"clIa.s and unds and 'hat lr would not ron- :71c r. Attorney |. 4. Hoaard ask ,.i Gupa'rie it 'ho later lad any uowledge or assets not hH0~n 70 ...a receiver or trustee vhich coUli ! .. recovered and rlnorl fn ti" credit o' he tarkrur' es'a'r. The former .-ukrr repI'l '.a' 70 .ar rs to |.Grr, every hl' O. av,r' f-t brra ar- ,muff1 for
 Receiver CoGlr oroo1nrrd .f.a' ho ad been ablr 70 anrourf for E.>,- ~ h- a1G,t{CrrI ~ tt.r ruat,a snite-