, 1876-01-03
THE CONNER LOAN COMPANY.
A nASK1sniA rnorrXtr1klN.


A nootng of tho creditors Of tho defunct Com
marcel Loan Compaay mud Savings Bank was
hold At tho Criminal Court room yeatorday morn
lug. Tor tho purpose Of hoaring propositions
from varlous bpnkosH to re-cetab!tHs aupthor
bank at tho onulo place. Tboro WAS but ono
hanEer pteeout, Alr. Hammond, President OF tho
City Savings LINK.
Tho lneottng wna called to order by Aid. Jonas,
who stated ,.s object aud called upon Mr. Ham
mont to mako Btatemcnt.
alr. Hammond. httcs expressing his regret TINT
no tuor0 bRnkoth weso prosont, Aaid tlAt II had
eouh tho deshe Of hia Company for some time
past to estAb!islIn d bFanch hatl1 On the North
Side. lilo propoaed to buy tho fixtures and
goodwill Ut tho Commercial I.oan CJa.-
pany at fair valuation. but beyond
tL,a ho could offer noth.ng, oxcept that
10 would &llow tho Rccelyer ao much room AZ
h" nocded. tree Of Charge, to wind up thc. bust
nusB Of tie Cunpany. uo would also gty3 hin
all proper aid aud facilities to pay tho creditors
thelr d!ylaends. Ifo did not aak tho doposlsoss
10 leave one cent with hinl unless t!oy 20 do
snei uo aakoi no faYots except such as 10
could return. No usn WHO Intended 10 % q
sl.are. honent business Could ASSUME any OF the
dsots OF tie deiuHct pank. It was u real ilnnns-
slptity 10 mako oAEgaln with aotno t,0N do.
poators for thoy wuuit nut stick tu it. Bono
would n!"aya 10 dissatisfied. Besides y nun
who wnulu pay certain amount to secuso tho
depoalt could nat possibly intend 10 carry OH au
h1nnst hubin.,aa. tiis planoast,on WIS clear ot
all !has: ile meaut 70 EsY for "hat as r..
btnks th tho clsy wna alarming. ttu Ahew Of 0ae
baak Which lately burstoti up thai couii uut pay
lib checkH, Alsa thay lad to wals uhIil u deposit
~as made to pay them with. Nor cuuld tbs ceu-
pio do! cud upon tic ntatumouts Of tue balkn or
lilo lauk Exaloiposu. There was tho Cook
County sational Uauk tut instance, which, on
thp lst Of jhuuary, last year. iublished 4 most
favorable rono,t, aud on tho 18th OF tho aan,e
III ln:h ILL., stud ul. without psoyIo.ls watnlus.
! he re!atloLa between depos,tors and tho bauks
lIeu. 1t was aatuninhiuK what an hlnouut Ut
confluence ma reponod III tho butts by some
Iepusttvfn, without known. anything Ut their
al(nlrs. Thu onIy true bas,s OH which 10 do
banking GuslncsA "na lAhs tho peo-
pc should knoM tEa affaita aud
coud,t.ou uf the tRu4s. His Company meaua 10
hAve comolittto appointed ty lhH deponltora 10
examine every security. II tbs creditors of thu
Commercial Loaa Company hsd taken this pre-
! caution Tho iIauk would not laye hutateJ, lnr
cuu'd tno olllceEa aud stockhuldcra have ~ pocu-
lstoa "Ita other peot!o'S luonoy. Speeulationa
Wuto usaa!!y tLo cause Of bursting banks. II
the creditors thought hts ptol1osttluu fair one
thoY could accept 1t. lla would. howayor, il hs
could NOT secure the CoWEnctcisl Loan Cumpa-
Hy'H place, StaEta savings Lank Dn the SoIlt,
Side Ut Ho.ue other convenient rlacu. II any
oue rIoseut wuntt4 to aHk l!,u any questions lIt
was ready 10 answer.
AID. Jooas inquired whethnr this Has goiug ia
~ 0 branch vi Tue ns!r eauk
Mr.. hammond replied that 1t would. IIls
bauk htd capital Ut 5lo9,tlN. AMI had hecn u