The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-26

egreemept he would request Judge Fl. u
Ogden, one OF the committee, to state wha
had transpjred between himself and the com
missioners.
Judge Ogden took tho floor and stated tina
the committee felt that It's first duty was &,
get possession Of the books and assets of thu
bank by the appointment OF new commission
ers. and the cheapest and best way TO do this
| was amicably II possible. Accordingly. ht
had called at the bank and had seen Messrs
Layton and John T. Moore. and had repre-
sented TO them the condition Of affairs. the
opinion of the public and the feelings OF the
deposltOra, and both gentlemen had expresses
willingness to resign, but said that they de-
sired TO consult with the other commissioner ,,,e
Mr.. q. Il. Girardey, and their counsel. ms
WAS but just and proper, end no agreed 10
await the result Of the consultation
Messrs. Glrardey and Bermu1ea ltne ,atCe W.
the counsel Of the gentlemen were sent for,
and on their arrival the matter was presented
and discussed. A number OF objections were
raised mot by Messrs. Moore and Layton,
however,) and overcome, ana at last all three
uentlamena agreed to resign, on condition that
The new commissioners appointed to take
their places should be satisfactory to them.
This was considered q just and equitable de-
mand and II was conceded, and the speaker
suggested several names, among others that
son, who was accepted.
It was suggested that In tho matter there
were two parties Interested, tho stockholders
Of tho bank and the dep0sitors, and on the
board Of liuuldators there should be repre-
sentative of each. and the third man chosen
should be one In no manner Interested. This
was acceptable, and the speaker retired. II
being well understood that the only question
still to be determined was who were to be the
commissioners.
~ .t.,T~ I, "A
called at the bank, but found M. Layton
alone. That gentleman told him he was GO
ing to soc Mr.. Bermudez and wanted him to
accompany him. The invitation was do
cned.
Later In the day Mr.. Layton was again
seen, and on this last occasion informed the
speaker that Mr.. Bsrmudez had advised that
II the commissioners Withdrew they would
admit that they had been at fault and 1t
would look bad, and therefore there would be
no designations, and thus tho matter ended
Mr.. MEG loin submitted the agreement,
which provided for legal proceedings to I'M
seat the commissioners and for mn assessment
Of 1 per cent on tho amount on deposit for
lawyers fees and expenses Of court, payment
Of expenses and fees exceeding this to be con-
tingent on the amount realized from tho as
sets Of the bank
The agreement was signed by number OF
those present, and 1t was announced that the
paper would DO placed mt the Office OF MIR. Nc
tIDlU tD-GHy, WIlfGP HI WHO hbSiItu 81 w uU
could attach their signatures.
The following
REVOLUTIONS,
offered by Mr.. Victor Sere, were referred for
action to a committee composed of Massrs.
Sere, Henderson and j.. Doherty.
Whereas. q. Il. Girardey. ESD, proceeded to
force the liquidation of the Southern Bank. at
the request Of the president and directors of
said bank: and
Whereas. Tbos. Layton and John T. Moore
were acting as directors thereof when the sus-
pension OF the bank occurred: and
Whereas enid persons are IA incapable to H.
Guidate ~ to manage tho affairs OF said bank :
and ~
Whereas. they are now TO render the account
of their management to themselves.
BE 1t resolved. That we hereby declare all Of
said nominations as highly improper, and that
we deprecate tho refusal o. said parties to TO-
sign their trust as commissioners to liquidato
said bank.
hesolued, That wa elect two attorneys to take
charge OF our interest. whose duty IT. shall be
to proceed to the fullest extent Of the law.
The meeting adjourned subject to call.