The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-06-08

Making u total oIm"u",
AsaErna,


~ the tlRn0th,',s''''t,t'fttf, Fai'piu
Accrued Interest ru.tttt.tttft,ti,t liniA
Furniture ana Fixtures ,,t,,,tt,p,u'' e'usA
Thirty land certificates, ,,, ,,,,,.,.rf, I'VE
Due lfOm Dankh,u,,,,,,'u'',''ti OK
Stamp, stnt,,u,s'''t'''''''tf't nWu
Cost Items, ,!,tttr,,f't'tf'f' 't'''''' 40 uy
Expenses pald ,,ut,t,,,,,''''''.,'i'' l's-'
Making total ofrn.",,,,u,,r,rS bSiO
This leaves a deficit OF Slb. SOL. The
book of daily balances shows
that the bills receivable ARE chHfgS
cd with $4,000, leaving difference
between that and the amount reported
To nssignees OF near $4,000. The com
mlttee cannot undertake TO say that
this cannot he explained. The COM
miltee cannot say that their figures ARE
entirely correct because they have not
given the matter that attention II re-
quIres; and they are unable To make n
report satisfactory TO themselves until
the books of the bank are gone over
by competent expert, and they have
not M yet procured one.
Stock actually paid In cash by stock
holders was only $4,000.
Deduct stock M n liability and the
bank will have In excess OF liabilities,
counting her assets M being oil good,
"a, ld9.
Expenses have exceeded profits by
1889.
Captain Adams, as spokesman for
the committee, stated that after exam
lining into the affairs OF the bank,
they were OF the opinion that II would
be well to employ an expert to 20
through the books and papers. The
COMMITTEES had tried to secure the SER
vices OF an expert but had failed to do
80. He thought that with proper man
the bank might pay twenty
five cents on the dollar.
Captain Adams stated that he had
discovered that n New Orleans bank,
of which he was correspondent, held
claim OF niue Thousand dollars against
the State Savings bank. He would
beg to be excused from further duty on
the committee, which request was
granted.
Colonel j. B. Simpson said that the
committee Of which he WAS member
WAS not conversant with bank book
keeping enough to examine into It's
intricacies. None but an expert could
do the matter justice.
Il. COIN moved that the report of the
committee be received and the COM
mttee discharged, which motion was
carried. y,
The chairman of the meeting called
on the creditors to express themselves
as to the,best mode of procedure in the
Colonel Simpson said that he did
not think the assets would pay over
twelve and one half cents on the dol
lar, il that. The names OF the parties,
the list of what
was claimed as assets, were
for the most part worthless. The bank
had represented that 1t had directors,
but it had never had either directors
or stockholders. Gruber alone was
the bank and was responsible for its
condition, and ought to account for
the sworn statement made in January
regarding 1t, compared to Its condition
at the time of its alleged failure.
Bankruptcy was the most economical
and expedient course to pursue.
Captain Adams said that the COM
mittee had made liberal estimate OF
what the assets would bring, and had
put the amount at ten thousand dol-
lars.
Several members then urged
objections to Chas. f. Tucker acting
rs assignee, stating that they had I'M
derstood that he was attorney
for Gruber. These objections were
met by number Of creditors who ex,
pressed The utmost confidence In the
character OF Mr.. Tucker, whom they
were satisfied would not allow that to
sway him the least in the disS
charge of his duties as assignee.
II. Cohn said that he did not see
why Gruber should be allowed to cool
ly pocket eleven thousand dollars a
year, which he had done at the ex.
pense Of his creditors. He limited
something about criminal prose.
cution and said that Gruber
might take trip Oft OF any time, just
as his cashier Leighton had done al.
ready.
Here considerable argument follow
ed as to the best course to be pursued,
which ended In general expression
that the bank was grand fraud.
w. H. Wheelock moved that Messrs.
CASTOR and Tucker be accepted rs as
signees, and that they let the matter
take lis own course, which was carried,
after which the meeting adjourned.