Los Angeles daily herald., 1876-01-28
Let Facts be Known.

We feel called upon to warn the cred
| itors of TEMPLE & WoRKNIAN's Bank
to place no reliance in either the state
ments or conclusions of the Express,
which is now using its columns in the
| interest of one or two of the heavy
claimants against the firm. From the
day the Bank re-opened to that on
which it closed, almost every issue OF
that paper contained one or more arti-
cles assuring the public that the estab-
lishment was on perfectly sound ba-
sis, and was perfectly safe place in
which to deposit funds. These state
ments were made through gross igno-
rance, or wilful intention to mislead
and deceive the people. No matter
from what source they originated,
they prove the paper an Ignorant yelp-
er or an intentional falsifier whose as
sertions are totally unreliable. When
the Bank closed its doors forever, this
same unreliable, toadying, ,demagogic,
fraud and libel on respectable journal
ism commenced assuring those whom
its protestations of the Banks sound
ness and stability had induced to de-
posit their money there, that if they
would only be patient they would re-
ceive their money dollar for dollar, and
to give its statements the color of
truth, it foots up assets that are known
| to be worthless and estimates real es-
| tate at double what 1t is worth and
more than double what it will sell for
at forced sale. Of course those who
suffered through the false assurances
of this toadying satellite of any man
who has money, while the Bank was
open will not heed its assertions now,
but we deem it the duty of the HER
AID as an honest, independent jour-
nal that dares to utter what it believes
to be the truth on all occasions, to
warn the depositors ofthe closed Bank
to beware of the semi official state
ments of the Express. You know it
deceived you once and you have every
reason to believe it is seeking to de-
ceive you again. The HERALD's esti-
mate of the firms assets and liabilities
as given yesterday morning is conced-
ed by all fair m nded men to be nearer
the mark than any yet made. On the
real estate We fixed not its real value,
| but what it would realize at o forced
SALE That is the estimate at which
| the creditors must regard it. Mr..
| TEMPLE has not a more sincere friend
than the HERALD, and no one feels
deeper sympathy for him than we.
We have maintained from the first
| that he has not Intentionally wronged
any one out of cent. He is victim
| to circumstances that he could not
| foresee or control. When his bank
suspended four months ago we believ-
ed he should lave gone into liquida-
ton. When his bank closed few
|
days age, we believed he should have
gone into bankruptcy. We believe
that this course is the best that can be
adopted for both himself and his cred
itors. If what is rumored on the
streets is true, on the plar now being
carried out, the property will be frit-
tered away. The depositors and small
creditors will get little or nothing, and
MIR. TEMPLE will be left with heavy
Indebtedness hanging over his head.
BY going into insolvency he pays a
pro rata to all his creditors, and when
the assets are exhausted he is relieved
of further liability. Would not this
course be better for all concerned? 1t
certainly would, yet for believing and
advocating this the HERALD is de-
nounced by the most unreli able, syca-
phantic officiating sheet that ever be-
come the laughing stock of commu-
nifty, as the enemy of Mr.. TEMPLE
| and the assailer of his business. If
Mr.. TEMPLE had had more friends like
the HERALD, who dared to tell the
truth and warn him against the toad
les and leeches that surrounded him,
begging, borrowing and stealing his
substance, he would now have been II
happy and prosperous man, possessing
the confidence as lie does the sympa-
thy and friendship of all who know
him.