Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1885-01-29
GALVESTON
A Plan Proposed for the Readjust.,
ment Of the Affairs OF the Island
City Bank.
A Reorganization Of the Bank Recon
mended With the Presen. Depos-
itors ~ Stockholders.


GALVESTON, TEX, JAn. aS. --There
are no new developments In the stlalrs
OF tho dciunct Island City Savirge
bank, The excitement over the fall
ure wRs somewhat allayed by cali
promulgated this mornlns FOR meet
ing OF the depositors NJ Turnere'
hall at o'clock tonight 10 determine
upon a concerted line Of action, and
the call stated hat no one would be
admitted uultee he presented hla de-
largely attended by men and
Nv and shade, represent alives
OF every condition In life, whose aggre.
gated depoeitH IN the broken bank
were fully 100000 The meeting was
organized by the election ~
chairman aud secretary. Conservative
speeches were made by a number OF
prominent gentlemen oOunHeling
moderation aud recommending a re-.
organization OF the bank In which ~
many OF the depOait0rn az were able
should take stock In proportion 10 their
deposits, TO he convertible into cash ~
soon ~ the financial condition OF the
bank would warrant, II they 80 desired,
or, II not, to form portion OF ita capt.
tai stock, on which they would be-
entitled TO diYidendH In proportion tO
the amount 80 held, and that the
small depOaitora who were unAbl, to
take stock should be paid In INSTALL
ments until their claims wero fully
| liquidated. The proposition was
| favOrably received, aud CONF
mittee OF eleven, including Man
aging Editor II. q. Lowe OF the
/ News and NJ LAsker, brother
| Of the late Herr Laskur, were APP
| pointed To confer with the bank d.
realorB and ascertain lts exact hnen-
olal condition, and whom lie asAets can
be made available and what PROPOSE
iion they are prepared to
make 10 the depasitora, and n report Ia
general meeting Of the depOsitora
next Saturday night for ratification or
rejection. The committee will meet
at the cotton exchange tomorrow and
organize and then walt upon the
board Of directors, state their
ohjrct and ascertain what they
propose 10 do II this plan OF the adj
justment Of the financial RfialrB of the
hank IL adopted all the attachments
and garnishments that have been run
against II will be withdrawn and II
: III resume business M noon az the re-
organization can be perfected.
woLsToN WELLS \ vIDoR,
The affairs OF Wolston, Wells
V,dnr, whose failure with liabilities al
S4n 900 followed quiclIly upon the AN
are Htill undergoing investigation
NJ Ialss NUpIalnVt cha ann nr mani
OF the Arm, who was absent AT the
time ~ the tragic death OF ais part
ner and the failure OF the firm, 70
turned to-day. IT Is stated tonight
> aulhoritatlvely that Wolston, on
, his arrival. turned over 23,0Ol
aud NidOr 5000 as the totR
assets ~ the arm FOR tho benefit " .
. few preferred creditors, No authentl,
or detailed statement can be obtained
until nm assignment IL filed
LOBBYISTS FOR THE EADB MEASURE
GAL, EsTON. Tx Jan. % Mayo
{ Fulton did not Start on his trip Il
Washington yesterday IN the interes
Of the Eada measure az one Of th'
members OF the committee appointed
by the CITY council on Monday
3 hut deferred his trip Oh tho RrOunC
[ that important matters at home mOr'
/, urgently demanded his attention
These matters are Gbiehy will
I reference to tho propose
4 sale Of the water-w0rk
! IN the city government, negotiation
= for which are nov Pending, and n
. quire the mayors presence.
3 Meesr,. Heideheimer and Chat
0 Fowler, having declined the ~
\ pointment ON the committee
. 20 tO Washington In the Interest (
Il. the Eada MEASURE, Gen g. 9 y gcen
. and A. q. Malloy have been placed .
. the committee Rs substitnt0s aud hay
/. signilied acceptance.