The New York herald., 1878-10-22
PROMPT ACTION OF THE CROWN.
Probabilities Of the Arrest of
the Old Directors.
PIOUS FRAUD POTTER r !.
[BY CABLE TO THE HERALD.1

were private, but have been able to OBJ
tain the general details of the transactions.
In view of the hopelessness Of resuscitating
the shattered concern a strong feeling was
expressed by few prominent sharehold-
ers in favor Of voluntary liquidation, as
being less costly than o judicial liquidation
and less oppressive to the poorer share
holders. Repeated reference was made to
the prompt action of the Grown, and the
names of shareholders who can testify that
they purchased shares on fraudulent mis-
representations were taken down for the
use Of the Procurator Fiscal.
THE PUBLIC MEETING.
A public meeting is called for tomorrow,
and as it is quite impossible for the direo-
tors to be present, Robert Craig, of Craig
Esk, the largest shareholder, will preside.
Rumors reach me that further warrants
have been issued for the arrest Of the old
directors of the City Of Glasgow Bank.
RUNS ON THE BUILDING SOCIETIES.
There have been runs on some of the
local building societies to-day, but nothing
seriously approaching a panic. This was
obv:ated by most of the societies having
taken advantage of the rule requiring q
notice Of intention to withdraw deposits,
and they have obtained delay in that way.
The markets to-day were very quiet.
THE sHIPBUnDERs.
The resolution that was agreed upon at
the recent meeting Of the Clyde Shipbuild-
ers Engineers Association to reduce wages
z 1-2 per cent comes into operation to-day.
1t will be accepted for the present by all
branches of the shipbuilding trade under
protest.
SOME PEN PIcruREs OF AN ''uNCo ouID" GANG
OPINIONS OF THE NEwsPAPERs-AN ADJouBN-
MENr GRANTED.
From the Evening Telegram Of yesterday.I
SPECIAL CABLE DESPATCH TO THE rELEoRAM.
GLAsGow, Oct. q, 1873
The Glasgow Press, in speaking OF the arrest OF
the managers and directors OF the defunct City OF
Glasgow Bank, expresses the greatest satisfaction
with the swiftncss with which the law has vtDdi.
Gated itself and laid hands on the men IN question
1t dwells on the words Of the formal Indictment
which alleges the offence Of the prisoners to be
falsehoou, fraud and wiiful imposition, and con.
cludcs by adding parenthetically. (which is q
precise indication OF the enormty OF their vilany,
The Ne,cs says:-"An oil the prisoners may not
be equally guilty Some are knaves, others are
simply fools; but all deservedy stand together in
the prisoners dock, Tor they form OF the most
audacious bands OF swinders which has ever
preyed con1ding country" The Edinburgh
Scotsman expresses tisfaction the TACT that
the prosecution Will not be LETT, 1t would be In
England, to the mere chance action OF the share.
holders but that In this case the Crown under
taxes the prosecution in the interests OF public
morality and justice.
SKETCHES OF THE PRISONERS.
send the following details about the imprisoned
directors which win be read with interest Al this
moment:-
Lewis Potter has been . director since 1857. lie
10 man well advanced in years and has had great
commercial experience. He was the head partner
OF the firm OF Potter, Wilson 4 Co He has been
largely associated with transactions In wool,
and also IN land with James Morton, who
Is the largest debtor to the bank. Pot
ter held leading position among Free Church.
men, and energetically promoted charitable
and philanthropic objects He owned the beauu-
iul residential estate Of Udston near this city. He
was actively interested In the moral and religious
welfare OF the district surrounding mis- princely
home. lie was the prime mover In erecting the
.-t.-
bity Tor the cost OF the edince. II has been
ascertained that the bank advanced funds to Potter
in this matter He was strong sabbatarian. re-
fusng to take In or read Mondays papers because
much OF the work upon them was done on the
Sabbath, but II Is now remembered that ne assld.
uously interrogated his travelling companions who
were less hypocritcal Tor news In the train Mon
day morning as he was going to glasgow. Some
years ago when the boiler explosion occurred Mt the
Greenfield colncry. the boiler fell through the roof
OF the Sunday school during divine service. Potter
piously remarked upon arriving ut the scene that
he was astonisned that such an occurrence could
have happened near such q meeting
ROBERT sALMOND.
Robert Salmond has been connected with the
bank since It's commencement In 1880. He wns
manager In 1857. lie owns the handsome estate OF
Rankiston, In Ayrshire. lie rcinquished his post
OF manager In 1861, but retained his seat in the
Board OF Shareholders. They were congratulated
when he consented TO take position In the dircc.
torship. lie Is . debtor to the bank IN the sum OF
100000.
JOHN INSEs WRIGHT.
John 1nnes Wright became q director In 1875. lie
IL senior partner OF the firm or John Innrs Wright
& Co., East India merchants lie IL a brother.in-
law OF Fleming, or the recently deiunct East lndia
firm OF Smith, Fleming 4 20. Wright took much
interest in church matters and charitable assoca.
tions. lie carried his generosity to such an ex.
\ tent that ne now owes the bank han q million ol
pounds ts2, 2,5ooOoo)
WILLIAM TAYLOR.
William Taylor has been director since 1872,
and is a well known public man IN glasgow. lie
was member Of the Town Council, Magistrate o
Burgh, Preceptor OF Hutcheson Hospital, member
OF the School Board, President Of the Glasgow
Young Mems Christian Association, and was fre
40,