Arizona weekly citizen., 1884-05-17

harm. Had there been intimalion e
 that character 1t y-onId have bes,
 sauelched in short order, but who cGi
 blame these men for endeayoring to fn,
 out how they can get their money. T,
 tell them to wait-that everything vii
 come ont right-is not enough; they q,
 not feel as If they were doing their duty
 to themselves and their families if the,
 sit down idly and let their money mat
 ters be settled alone by somebody else
 they wsnt hand in it; they want tanci
 ble assurance that they are protected
 In this instance they complain If tho
 assignee because he Was the attorney o'
 the bank, though all acknowledge tina,
 he IS good man, honest, and has the
 confidence of tho business community,
 They complain that the Sj0,OOO in secur.
 Ities turned over to the county to secure
 the s36lOOO deposited by the Courty
 Treasurer should TO: have been taken
 from the bank, but that the county
 should suffer their pro rata of the loss.
 How the bOndsnen heard of the failure
 before the assignment was made and secured themselves, is what the other depositoTs are talking about District Attorney Campbell says that the trans action which occurred at 1 o'clock Tn the morHing after the failure was announced, was the exchange of securities; the treasurer dis covering that he had such securities ls were not satisfactory. and the exchange was made. The meeting of the depositor5 Saturday night was fairly attended. These mattera above men, toned were talked over. 4 committee was appointed to consult with an attor- ney. Hoover & Satterwhite were selected. They also appointed a con- miitee to wait upon the assignee at the bank and obtain such information m regard to the condition of the bank as was possible in the length Of time they had The following are the figures given:
 Bills receivable. including mortgages.
 eoilaterais and indorsed paper, pun- eiVal----- - sl2n .sie O Accrued Intsre-t on same------------- Z7.ls5 OI Mining stock and Tucson nOtes-- S,GSl uU Wedge NJ. Co. stock at 25 cents (estI- Oyerdrafts uns-oared 7aboni5 5---- sG0O O. Oyerdrffts secured. collst=ral- or Ier- Tombstone assets issIiala edJ------ i0'Us Gi Cash tmutIla ei com and curreucyl IZsO co Real -state. individual property of
 Mes-rs. IOole and Hsd-0a lesti
 nia eHI----- ------------ ------------ nJ.uNu t" Total 70i Cd Total liAbIlities testimatedl Ss.O.UO co 1 l. abilities lees preferred clalui------ 800 ul Ieneral creuItors. pr-feEp.d------- S0J.U0 0J l
 Mr SresOvich, member of tue con- 1 miitee, stated to the meeting that they | found matters Tn much better condition l than they expected, and that they would | ldvise that matters remain just as they | were, having confidence in the assignee | NIT. Daley reported that their commit lee had determined f. employ counsel | and take immediate legal steps and that they should, with the consent of the rest of the depOsItOFs present, commence | egal proceeding by attaching the bank l property. This, as We understand is not to appear as against the once or JCe i assignee, but to protect themselves igaInst Tombstone creditors, the latter having taken such decided stand against the Tucson depositors. Who ,an blame these men for making all the moral and legal effort that is possible to -egain what they have lost by the failuIe ,f the bankers? We are, however, 1t loss to see what can be gained. If hese bankers have the property, which ,an be converted into money sufficient o pay out, as they claim, give them tune. Money will come out of 1t only through he regular legal channel any way, and f the affairs are entangled in legal Feb. cunningly woven by attorneys, 1t will take years to get anything, where, ,n the other hand, in six months time he assignee will have wound the con ,ern up, and We who are losers now will .eceIve our pro rata. If at the end of hat time. or less time, 1t is discovered here is DO available means and that the lank has been run upon little, or com ,aratively speaking DO capital, and they lave used deposItors' moneys Tn specu- ation and lost, there seems to us a gal course then to pursue; but until thls IS ,nown, and 1t must come through the assignee, let us wait. If. in the mean ime anything can be done legally to nake security more secure, do it; but it eems to be the prevailing opinion of a arge number of the depositors now 10 e; the matter take it's course.
 MT. Hoover advised concert of action with the assignee. He stated that NIT.