The Sylvester Family of Plainview, Minnesota*

Lawyers claim E.L. Sylvesters drew $50,000 from bank for personal expenses

November 13, 1925

PAGE 160

some of the facts back of the failure of the institution, according to Senator Carley.

Time to Let People Know
"We have sat still for almost eight months without making a move," the lawyer declared, "and during that time have had criticism after criticism heaped upon our heads up there, but I feel that it is now time to let the people know some of the facts and a little about the tremendous expenses of Mrs. Sylvester and her children."
The testimony on the witness stand at Winona Saturday of Mrs. Edwin L. Sylvester, who was the first member of the banker’s family to talk at a public hearing since the crash came at Plainview last March, and who for the first time disclosed to the public in direct testimony the financial methods used within the Sylvester family, together with the inside bank information made public by Senator Carley, gives a complete insight into the wrecking of the bank.
A detailed table showing month by month amounts drawn on the bank by Mrs. E. L. Sylvester covering the period from Dec. 31, 1913 to Dec. 31, 1924, was one of the big features of Senator Carley’s disclosure.
The total for each year follows:
1914 – $3,091.21
1915 – $3,818.09
1916 – $4,682.89
1917 – $4,233.33
1918 – $5,011.83
1919 – $5,224.35
1920 – $6,764.81
1921 – $5,283.70
1922 – $5,578.93
1923 – $4,958.09
1924 – $4,573.73
Total – $53,220.95
Other Checks Not Included
A note at the bottom of the detailed table lists checks amounting to $1,781.42 drawn by Mrs. Sylvester on the bank during the above period and not included in the total. These checks were drawn against the building fund, one of the features of the attempt to show that money wrongfully taken from the bank was used to improve and purchase the property normally exempted from bankrupt assets. This additional sum according to Senator Carley, makes the grand total of money drawn out of the Plainview State Bank by Mrs. Sylvester during this eleven year period $55,002.37.
"This vas sum of money," Senator Carley said, "does not include checks given by E. L. Sylvester for household expenses, electric lights, telephone bills, fuel, auto expenses or for taxes upon the property for either E. L. Sylvester or Mrs. E. L. Sylvester. It is only money drawn through checks by Mrs. Sylvester for her own personal use."
"During the period covered by this table," the Wabasha county attorney continued, "Sylvester’s salary for the last few years of that period was only $200.00 per month and for the first few years only $150.00 per month, according to his own bank records. His other bank income consisted of dividends of the bank stock which did not exceed $1,500 a year and there were no dividends paid since 1920."
"In addition to Mrs. Sylvester’s checks," Senator Carley added, "the other five members of the Sylvester family drew large sums of money each year from the bank on their personal checks and through notes. The records of the bank disclose that Edwin L. Sylvester Jr., son of the head of the family, spent $11,000 during the four years he attended the University of Minnesota."
"It must also be remembered that during the same period," Senator Carley said, "that Sylvester paid out $12,500 in insurance premiums on the $26,000 worth of

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* SOURCE: Manzow, Ron (compiler), "The Sylvester Family of Plainview, Minnesota - a collection of information taken from the Plainview News, other newspapers, letters, and diaries beginning in 1884": Plainview Area History Center, 40 4th St. S.W., Plainview, MN 55964. Compiled in 2001.

NOTE: from Ron Manzow, December 2001: "Feel free to reproduce the pages for anyone who wants a copy. It was compiled to be shared... All I ask is that they consider sending a check to the [Plainview Area] History Center to help us out. That should be enough."