The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-11-16
MEYER-K|SER
RECEIVER SUES
FOR MILLIONS
Six-Paragraph Action Is
Filed by Garvin,
He Announces.
SUM TOTAL s3,025,OO0
Conversion of Funds to Own
Uses Is Charged to
Sol Meyer.

ll1llk VI d OL1D W ICOONCl
totaling more than three million
dollars in assets of the Meyer Kiser
bank, alleged to have been converted
to personal use Of Sol Meyer, former
president, featured today'S activity
in probe of the bank affairs in
circuit court.
The suit against Mr. Meyer was
filed by Thomas E. Garvin, receiver,
alleging in six paragraphs, various
conversions of funds belonging to
the bank and subsidiaries. Largest
amount of damages asked is 1915, 900.
Other paragraphs ask for $3.50, 900,
two for 100000, one for $175,000 and
one for $125,000, all amounts alleged
to have been funds taken from the
bank assets. Totaled, this amounts
to $3,O25,OOO.
Filing Is Announced
Mr. Garvin announced filing of
the suit in circuit court, shortly be-
fore adjournment at noon for an in
definite period. The hearing will be
resumed at a later date, with An
thony Wichmann, cashier of the
defunct bank, as witness. His pres
ence was ordered by Circuit Judge
Earl r. Cox.
Howard Painter, auditor, was in
Structed to make a record of de-
positors who withdrew large sums
on the closing day, although Mr.
Meyer denied from the witness stand
that he had advised any friends to
withdraw their money.
J. j. Kiser Testifies
After Mr.. Meyer had testified, J.
J. Kiser, former vice president of
the bank, stated that the closing was
caused by unwillingness of other
bankers in the city to loan ad-
ditional money to the Meyer-Kiser.
They felt that to pledge any
more of our collateral to secure adj
ditional funds to meet Withdrawals
by some depoSitors would not be
fair to other depositors," Mr.. Kiser
said.
Although considerable time was
devoted to the subject, no addi-
tional information was obtained re-
garding the purported shipment of
$780, 900 in bonds to Miami from the
bank here, December, 1890.
Karl Steinecker, former bond
clerk at the bank, whose informa
ton regarding the bond shipments
precipitated the probe along this
line, testified this morning that he
had "disobeyed insurance company
orders at the direction of Sol
Meyer"
Given Packages, Re Says
Mr.. Steinecker said that the in
surance rules demand that at least
two employees check outgoing bond
shipments, but that Mr.. Meyer gave
him sealed packages of bonds and
told him to mail them without
saying anything"
He also told the court that Mr..
Meyer had talked to him yesterday,
advising him to tell the truth"
Judge Cox questioned Mr.. Meyer re-
garding his conversation with Mr..
Stienecker and alleged threats to
accuse the latter of perjury.
Mr.. Meyer was questioned at
length by Walter Myers, attorney
for Mr.. Garvin, regarding long
list Of bond shipments, but answered
each query "he did not remember.
Gambling in the casino of the
Gloridian hotel, a bank property,
was disclosed when Mr.. Meyer was
questioned regarding correspondence
with Arthur Childers, hotel manager,
Merit Wertheimer, manager of the
casino, and Ferd S. Meyer, Mr..
Meyers son.
According to Mr.. Meyer the bank
received annual revenue of $4,000
from lease of the casino. Participa-
ton of Mr.. Childers in Miami Beach
politics was revealed in excerpts
from letters. read by Mr.. Myers to
the witness.
Fisher Action Cited
A letter to Ferd Meyer from
Childers, written on FTloridian hotel
stationery, said
After several attempts, I have
succeeded in recovering Merits
gambling devices that were taken
from his room last winter. I asked
Merit approximately $4,000, since the
court already had issued a destroy
order on all his stuff. This favor
alone should force them to forever
hold their peace about the money
they spent on their new rooms in
the hotel.
Il appreciate your friendly inter
est in my race for city council, and
I assure you that I have no inten-
ton of entering the race for mayor,
although it has been suggested to
me by several of the leading bust
ness men here on Miami Beach.
Il have almost positive proof that
Fisher Carl Fisher, former Indian
apolis capitalist and Indianapolis
Motor Speedway promoter) ap-
preached one of the candidates for
mayor, with an offer to support him,
if he would vote to close all gambling
on the beach this winter.
1T is the general belief that his
reason for doing this is the fact that
Capone's lawyer made monkey out
of Fisher on the stand in the recent
paddock case against Capone."