The New York herald., 1878-03-31
HERALD SUNDAY 81 'l878-QUINTUPLE SHEET

that President Miles appointed as such committee J.
Y. watkins, Stephon Hyatt and William A. Adams.
The clause IN brackets appeared In tho resolutions
as they were passed by the bank officers. but was
stricken out at this meeting. The depositors then
adjourned TO attend the evening meeting in the Ger
mania Assembly Rooms
MEETING OF pErosiroRs COMMITTEES.
several hundred deposltors gathered at Germania
Assembly Rooms last evening attend tho adjourned
meetng but II was found that the large hall was en-
gagged and that thcre was no room 70 DO had the
meeting, and for fifteen twenty minutes there was
great confusion, the crowd surgnc up and down the
sidewalk not knowing whether there was TO DO meet
'hs or not. The many gentlemen who ma been
appointed to serve on committees wildly hithcr
and thithcr from one saloon TO another search OF
room Tor tho meeting and ut GIN found one; but
was not largo enough 10 accommodate the entire
crowd so II was hastily determined to hold meeting
oil committees whc the depositors were persuaded by
policeman 10 move on.
Whom tho committee men had assembled Mr.. MoNa-
Drsan Inc % 10 snsor
nation which he wanted 10 have talked over, but
which no certainly did not propose to give 10 tho
public.
Mr.. Washington Rodman thought II would be we'll TO
ask the gentlemen of the prcss to withdraw.
The proposition raised a chorus OF remonstrancos
from other committee men, and was abandoned after
some angry talk.
Ex-Juago Joachimsen was then chosen az chairman
of tho meeting, and roll was prepared from which
IL appeared that there three present
one that had been chosen on Thursday night and ono
that had been chosen Friday night At Gcrmana
Hail. ana third chosen at tho meeting in the court
room yesterday. Two ladies were on tho last named
Joacnmsen arose and said cxcedly, ''Whero arc tho
ladiesYn They, however, appeared by proxy.
Mr. Gibbs, who nad visited Judge Wcstbrook, was
called on to report tho result Of the interview.
JUDGE wEsrBRooK's LETTER.
that Jndse Wos,brooS had svcn the oIlowins letter.
addressed TO tho dcpositors OF tho Sxpenny Savings
Bank
the gentleman tMr William kasselb Who h.. been
Of wealth. integrity aud business quadcations lilo
1d not seek tno position nut the post"n sought him.
itors oil the institution am he will do and do with
tho roates degree OF pompness and At tho least possible
.r lies in will do all can to prOtoc.
law and at tho earliest possible moment direct dividend
Al the creditors of tho institution have my warmest
ana al ssy s rely y ,hs ns
Mr. Gibbs said that tho Judge had said further that
thero would be no trouble In settling up the affairs
this wolld be by the action Of receiver. and had
asked :-"W ould you not rather have gentleman Of
tho standing character Of Mr. Russell to handle
The depositors money than those who havc had tho
handling Of II IN the past r' Tho Judge said. also,
that thcro noed bc no fear Of the eating up
large share oil the deposits.
.'will he take less than the legal fees9" asked
committeeman.
.rhc Judge did not say as to that said Mr. Gibbs
A discussion followed, in which several sad that
roceivers legal fees two and half pcr cont on
the money received and tho Same Oh all money paid
out which, II was calculated, would be over 500 OCO
out OF The banks funds. Others said that The lees
fixed by the Court and could not nvc per
cent.
The resolutions adopted during the day by the trus.
tees then read ana formed the subject long
discussion.
Mr. l. IL Rowan, who Is a brother OF D. Noble
Rowan spoke great length favor OF the adoption
Of hc.measures thus proposed, and Of the srenu
efforts bong made TO obtain reversal Of the de-
cislon OF The Court-appointing receiver. He was
interrupted by many questions ana At length tho
Chairman asked what Inc meeting was Tor No one
was quite ready reply no asked # tho trustees
OF the bank had consented TO the appointment Of
cever.
Mr.. Rowan thought they had. Mr.. Marsh, the coun.
sci Of tho bank had denied II. but be did not bceve
Mr. Marsh
charged with illegal conduct
Mr.. Rowan explained that they were charged with
two technically illegal acts and spoke at great lcnglh
The chair then SAID that under these circumstances
ho did not think tho appointment Of rece,ver would
be reconslderod by the Court.
THE BANK OFFICERS ARRAIGNED.
scattering nre OF questions was then directed at
Mr.. Rowan, who answered thcm ono by ut great
length until Mr.. McNamara remarks ed discon ,enIediy
that no Tor one had heard enough about Law. Ho
wanted know what was 10 be zone aud whether tho
bank officers would give up anything Of their own
asked for Those officials had not ' kept ia,sS s"sS
had promised TO explain the state OF affair
depositors aud had done so. Tho truth was
Judges choice of receiver, getting tho man
they wanted they were now anxious to havc the de-
liz coneIudsa rney navo Violated sheis trus
They haven't done anything else There
were women Mr. Chairman. at our meeting
last night, who had not lOur dollars worth
OF CLONES their Backs There were
poor boys there who had saved their money ten or
fifteen cents at time want look out for their
interests and guard against these olccrs This Miles
IS not to be trusted. II wo get only fifty sixty
seventy cents the dollar OF our money id rather
get Il from receiver than from him. Why don't no
givo up somo OF his money They say he has q
mion.p
a voice-"He wont give up anything"
Mr. Gibbs said :-"Judge Wcstbrook told me he had
no confidence in tho bank officials. and IN talking over
their acts ne mentioned an instance Of bootblack
who had asked for hts money and had been refused,
while other people were getting theirs. No doubt II
you show Judge Westbrook better plan to servo the
depositors than BY tho appointment OF receiver he
will adopt it,"
THE RECEIVER FAVORED
Mr. Marshall SAID he favored tho plan Of q receiver,
and was ANXIOUS TO have the officials punished az
severely us possible Tor their misdecda
THIS unaccountaby angercd Mr. MCNAMARA. who
wanted TO buy Mr. Marshas book, in order, he said,
to protect the poor depostors from men who would
wreck everything.
''An. you want 10 speculate! I'm not specula,or,"
replied Mr.. Marshall
Mr.. Langbein moved tho appointment OF . com m H..
teo Of hve 10 consder the matter and report plan.
Mr. Stebbns thought a better proposition could DO
obtained from the bank. Hc saw DO evidence that
the officers rascaIs although he admitted that
they had shown bad anagemenf.
'Ihey loaned monoy 10 u trusLoe's wife |" shouted
committee man.
'rnoy loaned money tho sugar house property
leasehol properly" shouted another.
''rhe trustees drew salaricsl' cried a third.
''fney kept on paying out money after tho bank was
closed" said u fourth.
guilty OF anything worse than pad management.
Az length "a committees OF ton was chosen to report
next saturday on a plan OF procedure. II was COM
posed Of N cssrs. Rowan, Mumford, Rodman Marshal
Mcnamara, StcDbins, Dowioy, Brckos, Joachi imsen
and Mc'5overn.
rne meeting then adjourned, subject to a call OF tho
Chair, ana II announced that a muss meeting
would be held at some time this week.
ALLEGED BREACH OF TRUST.