Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1878-10-30
THE ROTTON GLASGOW BANK.
A Reverend Stakeholder Gives the Offi.
cial Thieves a Scathing Rebuke.

A Reverend Stakeholder Gives the Offi
cial Thieves Scathing Rebuke.
The stockholders of the city of Glas
gov bank met Oct. 22nd and proceede &c
to take a survey of the remnants left by
the managers. After other speeches hac
been made the Rev. Mr.. Robertson
proposed motion that, as it was
proved, the bank cannot by reason Of
its liabilities continue business,
IT was ADVISABLE TO WIND UP.
We meet" the reverend gentleman
mournfully said, under adverse cir
cumstances. We are called upon tc
face crushing calamity and must ac
quit ourselves like brave, courageous
and honorable men. Respecting the
directors, ! scarcely dare to speak.
must endeavof so restrain my Just in.
dignation and speak calmly as min
lister of religion. Sir, these gentlemen
have been falthiess to high Office, dis
loyalto truth and the first principles
of morality. What with respect to
some of them deepens the discredit, is
that they trod the streets Of the city
arrayed in the garments of Righteousness
making long prayers, while destroying
widows houses, and erecting churches
while wrecking homes. Their honor is
furnished, their reputation stained. But
the day of reckoning has already
dawned. The majesty of the law is
now vindicating its claims. Cheers. !
For my part, l wish them no
sorrier, heavier punishment than
that they be haunted night
and day with the CHASTITY vision
of the hundreds Of happy lives they
have wrecked and blighted, till the feel
ing of remorse is kindled within their
hearts and they are driven to their
makers presence to seek his forgive
ness, and that they may leave His
presence determined to spend the ut
most energies of their remaining years
in some poor measure to undo the evil
they have DONE" (Applause.)
"The report is a sorrowful docume mt,
but it gives few CLEANS of light. The
assets of the bank, miscellaneous as
they are, have great value. Further,
the Investigators have not credited the
dividends which may be drawn, and
the bankrupt estimates, which may be
very large. We entertain the expecta-
ton that one estimate alone will yield
something exceeding 100000 ($2, 400
OOO.) We, it seems, although ignorant
of it before, are possessed of an Ameri-
can railway, in which these gentlemen,
or their predecessors, were good
enough to sink million sterling,
and called it banking. We possess
some 10000 acres of land in New
Zealand, which the directors last year
purchased, which they have stocked
and taken to the task of farming instead
of the task of thanking. Still that ground
is valuable. Then there are insurance
policies for 100000 ($2, 904, OOO). They
are of value. Even wicked men some
times die. Cheers. Here is my pro-
posal: Organize com pany called THE
City OF Glasgow Bank Assets Company,
with capital OF e. .OOO. 900 $50, $780, 00),
f1,000,OOO of it consisting of ordinary
capital, the other 81 100000 consisting
of debentureS. Let the company pur-
chase from the liquidators Whatever as
sets they are prepared to throw into the
market at full market value, or rather
above the ma, ket value. If this scheme
should be carried through you would
within year be able to hand over to
the liquidators 100000.
"Many may speak harshly of the po-
sition l have chosen to-day to occupy.
They may say am mingling too much
in secular affairs. l reply that, in my
opinion, well-doing is Righteousness
Loud applause. If the directors be-
lieved that religion consisted less in
solemn phrasing than in right-doing-
serving God in their day and genera
tion-we should not to-day be placed in
these calamitOus circumstances.
"For my part am not disheal tened.
If my services be OF any value in pro-
noting the scheme, shall, saving my
sacred Office, devote my time and at
tention to forwarding its success, be-
lieving that in doing my humble little
to lessen the appalling pressure of the
calamity on many suffering hearts, l
am serving my Maker and Master as
well as when preaching His blessed
gospel. In Gods name and bv Gods
blessing let us bravely and faithfully
strugg lie through and emerge with honor
untouched and reputation mistaken"
Cheers.
Mr.. John Wilson, treasurer of the city
of Edinburg, then moved that the
banks affairs be wound up in voluntary
liquidation. This was carried with only
one dissenting voice.
The Indiana railroads carried free to