Putnam patriot., 1926-02-05


 On the eve of his being brought to Connecticut for the purpose of questioning by the creditors of his bankrupt estate. C. Harold Giipatric, former cashier of the First National Bank. has written a somewhat lengthy letter to his brother, r. Raymond Gil patrie of New Britain, with instruc- tions that the letter be forwarded to the governor through the attorney general. This was compiled with and the letter has been made public.
 Gilpatric says that it hurts him Co have the state spend SlO,000 for an investigation that 10 him seems un- necessary. He denies ever taking any bonds from the vaults of the state, says that all state bonds deliver ed by the bank were paid for. has dim memory of things that happen his assistant, Sumner, criticised the delay in the delivery of bonds
 Gilpatric denies that he has unduiy kept silent and says he has always been ready to talk. He suggests that he be allowed to sts in conference and have all cards laid on the table. The letter in full is as follows:
 cilpairie,s Letter
 Dear Raymond
 Have just wired you to get in com munieation with the governor and the attorney general. with reference to the impending investigation before the special committee appointed by the governor.
 This will be rather lengthy let ter, but l am determined to set forth my view in this matter, and hope you can see the whole affair in the light that l do.
 eln the first place, l am very glad that the governor has appointed Il spe- cial committee. and the personnel is of the highest. While do not know Mir. Morris. l have every confidence in him. and am sure that q report of the find ings from such men as ex-Governor Holcomb, Morgan R. Brainard and Mir Morris, will be final in so far as this controversy is concerned, and will sat- isfy the people of the state.
 '.I can appreciate how disagreeable it is to ail the members of my family to have another such outburst of pub hcity. It troubles me greatly, 1t IS here; the flames have been famed, and it looks to me as though the fire was at it's height With this condition 1 cannot see how 1t can possibly hurt if I inject myself into the question of State vs. Bank
 "i have but one motive in mind. that is. to have the affairs of each transac- ton brought out before this committee in so far as 1 am concerned.
 Cannot Remember
 "I have racked my brain to recall these two or three transactions inYolv- ing the purchase~or registration of bonds for the state, through the First National Bank of Putn m, but l can not go back in my mind to five years ago. and fix it with any surety, even a single transaction, either as to date or amount. 1 do think there was a two hundred thousand iS200.0 .000) dol lar transaction, one for around one hundred and fifty thousand f$i50, OO0) dollars, and from what Walter has written me, there seems to have been an unaccountable delay by the bank, in the delivery of these lots of bonds l remember that there was q transaction in which Mir. Sumner crit icized this delay, and l presume that this is the same one that Walter men , tions.
 Now, what 1 propose for the con sideration of those isterested is that the governor, the attorney-general, the special committee representing the state, the receiver, his counsel, and the counsel for the creditors of the bank shall meet in joint session, stating the exact discrepancies as shown by the recent audit of the First National Bank It has been arranged that l can go to Hartford to consult an eye specialist, and if the governor can get the authorization from the department of justice at Washington, would be very glad to meet this joint commit tee; 20 over each transaction as pre- sented by the bank, and if there is any irregularity, admit the same; in fact, to trace to the satisfaction of both sides every move as shown by those interested in the bank.
 Futile to DSny"
 q want the creditors of the First National Bank of Putnam to receive every dollar possible. As l have writ ten to you, my fathers interest, and the Putnam Woolen Company's in- terest, the control of which is in my wife's family, would cause me to lean towards the First National Bank. On the other hand, do not want to trans fer anything to the state, or anybody else, if it doesn't belong to them.
 'l hope you and the others can see how utterly futile it would be for me to attempt to deny. dispute, or deceive any of the parties as to any irregularities. It would all come out after an investigation, and if l could save the state the expense, l would be only to glad to do go. : lave caused SO much trouble that i would like to feel that in this case l could be of help.