The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1928-06-08
The Story of the Promotion
Of Brotherhood Banking
BIZ JOHN GABRIEL SOLTZS

er record of thevng, if accomplished under ap-
parent legal cover in the popular movement of social
protest.
MIR. JACK HASTINGS
1hls gentleman became Townley's first aide de camp
back In 1914 He earned the reputation of being the
financial wizard of the Townley organization It was
justly earned He also Townleys confidential Sec
rotary, up until the time that his open association with
the Nonpartsan League became bad liability instead
of an asset. He was the mighty power behind tn.
throne OF A Z. Townley. For a short while he was
the political dictator of North Dakota and the brains
OF the notorious 'wrecking crew." which wrecked be
political and economic institutions of the Nonpartisan
League tie was bold and clever promoter of ruin
Gus so-called financial concerns The keen LEGAL bi
OF H. A. Paddock back of him.
Jack Hastings clerk in a Fargo department
store before ne to fame with Towney also bank
clerk. He identified with any phase of the
labor movement His chief recommendation tn Townlev
was his wonderful fertility almost magical in fact in
spinning out financial ventures To Hastings the popu
lar movements of the workers and farmers. were re-
garded as splendid field for getrichouicl" schemes
lownley had implicit faith in Hastings and as his con-
Huenta secretary, charged him with the task of or
ganzng an operating staff suitable for their
Hastngs, therefore, selected that staff AMONG whom
were the following:
George L. Webb, former vice president of the Bro
therhood Bank at Cleveland and former directing head
OF the Brotherhood Investment Company of Cleveland
and first vice president of the Empire Trust Company
OF New York strongly interlocked with Wall Street
H. A. Paddock, former general counsel for the Broth
erhood Investment Company.
H. A Merrick, former secretary treasurer of the
Pacific brotherhood Investment Company of Seattle,
Washington
Henry E. Cass, former president of the Pacific Broth
erhood Investment Company and of the Brotherhood
Banks at Tacoma and Seattle.
Einar Johnson former cashier of the Pacific Broth
erhood Investment Company
W. H. Tressler, former misunderstanding of the
California Brotherhood Investment Co.
Geo. D. Brewer the ballyho artist and loud
speaker for Henry E. Cass and H. A. Merrick of the
Pacific Brotherhood Investment Company.
In very short time, Hastings was so successful
with his financial jugglery, that long list of compa-
MES floated which included some banks In con.
sequence of the questionable financial methods employ
ed by Hastings and his associates he soon found him
self In hot water. Capitalism demands that some sem
oance of decency be maintained on the part of its oper
ators, so that the game shall look like it possesses
honest face to the rank and file. This the North Da
kota "wrecking crew" failed to do.
In 1915 we find, Jack Hastings together with H. A
Paddock now general counsel for the Brotherhood In
vestment Company, but at the time under considera
tlon attorney for the Scandinavian-American Bank
Fargo, North Dakota, indicted for the lootng of tn
bank IN question. Hastings was the vicepresident o
the bank.
The bank ruined by the substitution of worth
less paper for real assets The statute of limitation
saved both Hastings and his friend, H. A. Paddock.
Hastings, with the entire crew. was involved in praC
cay all of the enterprises listed at the end of thi
article, and all of which were Destroyed They got tn
reputation of being gang of takers who were rob
bng the farmers under pretense of being their poit
cal leaders, fighting the bg interests as they wer
wont to say, until thy were picked out by the farmers
who, in the end, knew their game
Therefore Hastings and his co-workers, in due tim
found the atmosphere of North Dakota rather unpleas
ant for their further existence there They scatere
all over the country.
In 1921 and 1922, Hastings promoted the 'Iistma
Service" and the Federated Finance Company" of So
attic, Washington. He used some prominent labc
men of Seattle to put his latest promotion over
Both of these fake scheme blew up MANI worker
in and around Seattle lost their ALL
After his adventures on the Pacific Coast Hastns
returned to Minneapolis, Minnesota He organize
the Bankers Holding Company in 1924 He sought
repeat his Scandinavan-American Bank trick on SON