, 1877-09-09

j.. Col. Taylor then spoke as follows, being re
ccived with applause:
| LADIES AND GENTLEMEN: | desire to makt
In explanation in relation to some OF the asset.
that have hccn read to you since they difIc1
somewhat from those rcpurted to you week
I ago tonight. In thu former report The
| rcaf-estate loans were stated q
over $500,Oo0. These figures were the
| result of a hastT examination. On more care.
full Investigation. some OF those loans have gone
into the collateral loans thereby increasing that
item, aou some have gone into real estate They
were carried along on Il books rs real-cstate
1oans while they had gone into real estate, aud
| it required close examination to trace them
| out, but VIC have done It, We believe that the
report presented to you is very nearly correct.
! I have attempted in the SHIRT time have been
there to follow nut every ::iece o1 property that
(App1ausc.5 In addition to that read TO you,
attachcd the house that Spencer lived in, all
his furniture fapplausel, and also several other
lots that found scattered through the city
standing in his name. [Applausc.I That prop
erty will be secured to you. and added to these
assets. tApp1ausc and cries Of "Good.'J /
have also been looking after other pieces Of
real estate that arc in other mems names, anu
one piece, held by J: Q. Adams, have no doubt
is the property OF the bank and will be secured
to you. tApplausc-] While have btcn there
have tried to
TAKE CARE OF TIE PROPERTY TO THE BEST or
MI AD1LITI.
[Applause-l Not dollar TINT was in the bank
when took charge has gone ont. Everything
is there. [App1ause.l And every asset that
could scrapc up is there; and all is ready to be
turned over to you lcheersl rs soon rs any prop
er course is fixed upon. so that it can be done.
This is all ! have to say tApplausc.l
Mr.. Wentworth asked how much Of the stock
yyas liable
Mr.. Taylor replied that all OF it was. Every
stoc]lholder was holden in double the amount
OF his stock, but It was all held By Spencer,
Guild, and Bulklcy, with the exception of about
cd against, and he had no doubt it would be re-
covered. [App]ausc-]
1tr. WentworIll-1 would state,
IN JUSTICE TO COL. TAYLOR,
that there has been nothing that man could do
for US that he has not dong. [Applausc.l In
stead OF putting on airs and asking lis by What
right We came there, he appreciated the condi-
tiop. recognized your sutlerinss, and. he helped
humblest depositor has been told to come right
in and see what there is. He said to them:
1.-THE bank bclo ngs to you: sit down in
that chair; there is table, bring your
lunch With you llaushter]: i i is yopr
yourself as comfortable as possible" Laugh
ter. Then he told them to come in and be one
of the Committee. We don't want to have any
secrets from any Of you, but wc will tell you
the whole thing. have made up my mind
that a great portion Of this opposition to Col
Taylor was not SO much to him personally as by
different individuals and different rings who
wanted to get the thing for themselves. Now let
me tell you something about
HOW GOOD JOB TH1s rs.
We have labored for this thing expressly
that you should lnow just uhat Has there, so
that If there were any assets unaccounted for
hereafter through the court. the right man
about the process Of winding up this thing. 1t
is a nice thing Tor Z inau to get into, and to set
upon for awhile. The eggs won't hatch, and he
keeps on setting. fLaughter.I He gets a per-
ccntagc OF all that is },uid in, anda percentage
on all that is paid out, and then he can ally
deposits saved from ono wreck and carry
them over to the other bank for that bank to
bank upon. Then that bank can loan its mon
cys out, and he can keep the thing. alive and
kicking for Just Us many years as he p]cases,
without making you any dividends.
And that is not ALL He can ring in just rs
many OF his 'vi1e's poor relations as be wants |
to,-ring In lot Of political bum1ners that he
situations, and can make very good thing out !
OF it in that way. and there is another thing |
which I want you to understand. Many Of you, !
perhaps, have not thought OF it.. When there is i
that has a book. What is to become Of the money
Of persons who have lost their books or are !
dead! Shall the Assignee keep it, expecting to |
meet the owner At tue Day OF Jndsmcnt? In !
New York, when deposits are not called for
after a certain number of years, the money ]
goes to the State, There is no such law il !
Illinois. The deposits, therefore, can remain
in tho pockets Of the Assignee rs long as he
plcases, Il you had a ring nlan-one in col
lnsion with other rinzs-pcrhaps be would !
make $lGOO00 out Of it, perhaps only $4,000. |
And that is the reason why nil the candidates
for Assignee have been making SO much fuss
about the Committee. They we're afraid VIC
would find out all the tricks and make them
public. Then there will have to be 4; !
great many suits brought OIL nlortgagcs,-
a great many foreclosures, aud the land, per
maps, bought in; aud that might he an .cxc,,sc
for delaying dividend. l hare been perfectly
at the
SCABER OF PEOPLE THAT WANTED
THE SITUATION,
and the immense number Of rings gotten up to: |
get the control OF the estate. No power on !
earth can take this matter away from the
courts Already there has o STINT commenced to |
turn Col. Taylor OUT Those who brought it
have q ring nan to take his place. Many OF
you hare asked Inc why could not take it. 1t
would lake all my time, aud you want for this
position man vino is in the prime Of ife-an
active, energetic man who sympathizes with
rou, and Is not afraid to wind this
ap for fear he CANNOT get another job |
Ehen his work is done. lApplausc.] There