Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1878-10-30
THE ROTTON GLASGOW BANK.
A Reverend Stakeholder Gives the Off.
cial Thieves a Scathing RebUke.

A Reverend Stakeholder Gives the Off.
cial Thieves Scathing Rebuke.
The stockholders Of the city of elias
gov bank met Oct. 22nd and proceeded
to tal1ea survey of the remnants left by
the managers. After other speeches had
been made the Rev. Mr.. Robertson
proposed a motion that, as it was
proved, the bank cannot by reason of
its liabilities continue business,
II was ADVISABLE TO WIND UP.
We meet" the reverend gentleman
mournfully said, "underf adverse cir
cumstances We are called upon to
face a crushing calamity and must ac-
quit ourselves like brave, courageous,
and honorable men. Respecting the
directors, I scarcely dare to speak. [
must endeavor SO restrain my Just in
dignation, and speak calmly as a min
lister of religion. Sir, athese gentlem en-
have been falthiess to high office, dis
loyal to 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 it's claims. Cheers.
For my part, [ wish them no
sorrier, heavier punishment than
that they 8be haunted night
and day with the CHASTITY vision
of the hundreds of happy lives they
have wrecked and bighted, 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 sorrowful document,
but it gives a 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
600. 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 a 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 banking. Still that ground
is valuable. Then there are insurance
policies for 100000 $4,000, O0OY They
are of value. Even wicked men some
times die. Cheers. Here is my pro-
.posal: Organize q company called The
City OF Glasgow Bank Assets Company
with capital of e2, 900, 900 ($9, 6S0,O0O),
81, 100000 of it consisting of ordinary
capital, the other 81 100000 consisting
of debentures. Let the company pur-
chase from. the Equidators Whatever as
sets they are prepared to throw into the
market at full market value, or rather
above the MAJ ket value. If this scheme
should be carried through you would
within q year be able to hand over to
the liquidators go, OO,OO0.sss
MANY may speak harshly of the po-
sition-I have chosen to-day to occupy.
They may say am mingling too much
in secular affairs. [ reply that, in my
opinion, welldoingF is righteousness.
aloud 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 pros
noting the scheme, [ shall, saving my
sacred Office, devote my time and at
tention to forwarding its success, be-
heving that in doing my humble little
to lessen the appalling pressure of the
calamity on many suffering hearts, I
am serving my Maker and Master as
we'll as when preaching His blessed
gospel. In Gods name and by Gods
blessing let us bravely and faithfully
struggle through and emerge with honor
untouched and reputation unshaken."
Cheers. l2'2"'
Mr.. John Wilson, treasurer of the city
Of Edinburg, then moved that the
banks affairs be wound up in voluntary
This was carried with only
one dissenting voice. -eo5s af5
Nevada Obituary.