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THE SQUIER FAILURE. Commissioner Ednonds Explains His Connection with the Bank. THE SMALL SAFE IN THE ANKING HOUSE A PRIVATE SAFE BELONGING TO THLCOMMISSIONER-HIS MONEY TRANSACTIONS WITH SQUER-HE LOANED THE LATTER MONEY AT TEN PERCENT. A meeting of the credtors of J. H. Squier & Co. was held at the bank yeterday afternoon for the purpose of taking steps O prevent any transfer of property by Mr. Squier or Mr. Smith. When the meeting had organized Mr. W. A. Cook, as attorney for several of the creditirs, stated that he had today filed a bill asking that the transfer be restrained until a receiver!or the bank was regularly appointed, that the cour, had granted the preliminary injunction, and that notice had been served upon Mr. Squier. It vas at once decided that nothing further was to be done, and the meeting adjourned without taking any action. A statement was male that Commissioner Edmonds present at ths meeting and attempted to explain to the the reason why he had a right to remove private safe belonging to him, but that his explanation was cut off by the announcement of the issue of the injunction. The article then went on to allege that Mr. Edmonds was a partner in the concern. MR. EDMO/DS EXPLAINS. Commissioner Edmords was at his office in the District buildings this norning, looking as placid as usual. His attention was called by a STAR reporter to the publication in a morning paper respecting what was said by himat meeting of some of the creditors of Squier & Co-brokers. He said he had not seen the publication referred to. The paper was produced, and he said it was true that he owned a small safe in that office, and proceeded to state that wien he commenced to build his house on K street, some four or more years ago, for onvenience he bought a safe to keep his private papers in. Mr. Squierwas a neighbor of his, and his wife objecting to hiving an iron safe kept in the house, he asked and oltained permission of his old friend, Mr. Squier, to keep It in his office, and he has kept it there ever snce; all of his old papers are there, and articles of siver and papers belonging to his wife. Mr. Squier nor no other person had any access to that safe; noine ever had except himself, and no one had any right to open it but himself. Mr. Squier had come to fim several times to borrow money, and he had loaned him money several times at ten per cent per annum. Mr. Squier had represented to him that le could purchase vouchers, pay accounts, &c., to dvantage, but he could not spare the money from his regular business, and he saw good opportunitis slipping away from him every day on account of the want of money He (Squier) had given him notes at ten per cent for the use of money to enter Into these transactims, and these notes were now locked up in the safe. When Mr. Squier wished to secure him firther than by simply a note, he would give him be vouchers he purchased, which were all placed by him (Edmonds) in this safe until matured. Hehad no thought or idea that Mr. Squier was on the verge of bankruptcy, and was surprised few days ago to read in the papers that he had closed hisdoors. His wife called his attention to It in the afernoon papers after dinner. He remarked to her that he would have to go down there and take his safe away. "W hen went to te bank," continued Mr. Edmonds, "I told Mr. Smth that would like to look into the safe and see what was there and arrange for its removal. He sall that Shellabarger and Wilson were Squier's attoneys, and that had better consult them. saw Nr. Wilson, and he went to my house, and showe him, as far as could, the papers relating to my transactions with Squier. had most of the clecks which had given to Squier as loas, and these showed the amounts of the bans. Sometimes the loan amounted to $1,200, an sometimes more. I had told Squier that some of this money was trust funds, and that I mut have good security For this reason he had freqently given me pay vouchers. As explained tolir. Wilson, part of the contents of the safe was buchers and part Squier's notes. should think that the total amount represented was about $4000. A month ago told Squier," remarked theCommissioner. in a sort of parenthesis, "that I hd no time to attend to these matters, and that he nust give me my money, as wanted to invest It elswhere. He told me that if withdrew my money hat he would have to lose some of his customers, ind he did not want to do that. He said, howevel that he would take up his notes in a few days win pay vouchers, and promised to give me $4,000 licash by paying $1,000 per month. neglected tojo to his office for twenty days after that, and bythat time a run had been begun on the bank. an Squier had really been paying off his customer with my money "Well," remarked the Commissioner, "as I was saying, explained to N. Wilson, and he sald that the matter was perfecty plain and simple. Mr. Wilson said that in ordr to have the thing fully understood, might inform Mr. Cook, who reprerented some of the crditors. did so, and told Mr. Cook that I woul open the safe yesterday afternoon, when the cotents could be examined, and a list of them made last evening, if SO desired. When reacted the bank yesterday I found a large number b people there. said to Mr. Wilson: Wilson, the seems to be a town meeting. They are going 0 elect a chairman, and organize for the purpos of taking charge of Mr. Squier's affairs. have no interest here except as one of the creditors, ad SO, without saying more, left the bank. "What are you all gong to do now?" asked the reporter. "I don't know,' washe reply. "I have not yet determined. I want 0 have no misunderstanding. Does the safe belongto the assets of the bank?" continued the listener. "No more than the shes on my feet," was the emphatic response. "hat safe isprivate property, and when get a chane want to look over the papers and see how muh have lost. think that it will be several thousand dollars. Everything in the vouchers above he 10 per cent goes to 11quidate the principal Mr. Edmonds laughd at the idea of his being a partner of Squier, and aid that he merely loaned him money, as he woul(make any investment. MR. SQUIER CORROBORATES COMMISSIONER EDMONDS. A STAR reporter found Mr. J. H. Squier at his residence at noon to-cay. In reply to inquiries, he corroborated Commissioner Edmonds' statement that the safe and contents about which there 18 some among the creditors, are the exclusive property of Mr. Edmonds, having simply been placed on pecial deposit with him by the OW for conventere. In regard to the statements of a partnership relation between Mr. Edmonds and himself, MrSquier said that there were no such relations, achowledging, however, that he had borrowed mory in large amounts from Mr. Edmonds, and halgiven him collateral security. While conversing further upon affairs connected with the suspession of the bank, Mr. Squier said that there were vidoubtedly heavy losses running back many year don't intend 0 run away." said Mr. Squier. "I haven money entigh to take me to Canada, if wanted togo. will be here to stand whatever befalls Mr. Squer further stated that his losses began in 1870, when he was doing a large business, and was abseit from the city by sickness, when he lost heavily The house he lives In, Mr. Squier sald, he mortraged for $12,000 in 1873, and for $8,000 in 1875, and both of these mortgages are held, and have been for years, by Mr. Gunnwell, of Alexandria. "There #as nothing wrong in my transferring the property to him, as some suppose," said Mr. Squier. "He practically owns the property, and can sel t at will. deed of transfer was only to avoid the expense of such a sale. No one can take thepoperty from him. THE REAL OBJECT OF THE SUIT IN EQUITY, filed yesterday by M: T. C. Crawford agt. J. H. Squier by Messrs. Cok & Cole, and Mr. A. C. Richards, is to causea disclosure as to whether Commissioner Edmons did not constitute the "Co.' of the concern, aid for the present his safe will be locked up. The morning a copy of the bill was ordered by Mr. N.Wilson, who will appear for Mr. Edmonds. The Queei of the Waters. THE NATIONAL RIFLES' TO LAKE MINNETONKASOMETHING ABOUT THE NEW RESORT IN THE NORTHWEST. Correspondence of THE EVENING STAR. HOTEL LA FAYETTE, AKE MINNETONKA, June 14. As Lake Minnetonkaand its surroundings are SO little known in Washington a brief description may
