Los Angeles herald., 1891-05-08
FORMERLY OF DENVER.
THE NATIONAL CAPITAL SAVINGS
AND LOAN SOCIETY.
what the Denver Real Estate Exchange
Had to Say About the Matter-Agent
Parker's Experience in Colorado.


culars setting forth the advantages to
be gained by joining the society have
been distributed throughout this city
tor the past few weeks, and the chances
are that quite number Of people in
Los Angeles have been induced to join
the concern. A representative of the
HERALD called at the Office yesterday,
and the workings of the concern were
explained in very plausible manner.
The intending patron is promised a good
deal. Loans will be forthcoming in
sixty days.
A HERALD reporter has been investi-
eating into the character of the National
Capital Savings. and Loan society for
several days, and according to the in
formation obtained it is concern that
should be thoroughly investigated be-
fore being patronized. Not wishing,
however. to damage any enterprise with
out the beat and most indisputable evil
dence, communication was at once
opened up with several responsible citi-
zens of Denver. George II. Parker rep
resented this concern in Colorado. The
following was published in the Rocky
Mountain News OF Denver OH January s,
1891:
Over fifty stockholders OF the National
Capital Savings, Building and Loan So
ciety met in the audience chamber of
the real estate exchange yesterday after
noon and listened to the report of the
investigation committee. For an hour
or more preceding Chairman Saliel's
appearance the room began to fill up
with men and sorrowful-looking women,
H. eO00 m eOEn o,,,a
through the agency of the alleged Colo
RADIO corporation.
Promptly at O'Clock the committee
was on hand, and after Mr.. Saltiel had
assumed the gavel he opened the pro-
ceedings by reading the report, which
was scathing straightforward one, al
though couched in modified language.
Following is the document, which
created no little stir:
To the Colorado shareholders of the
National Capital Savings, Building and
Loan Society of North America: The
undersigned executive committee APP
pointed at your meeting, respectfully re-
port progress as follows: We have care
fully considered the manner in which
the superintendent and officers of the
company in Chicago are conducting the
business, and from the evidence in our
possession we have reached the conclu-
sion that money is being obtained by
false representations in regard to the
ability OF the society to make loans.
Also that the United States mails are
being used for the purpose of defrauding
persons in Colorado by Alfred Downing,
the president OF the society, William H.
Mortimer, the secretary of the society,
and L. F. Mortimer, the superintendent
of the society. by and with the consent
of George r. Choat, N. II.
Tollman and F. A. Wentworth,
who with the first two named
constitute the board of directors of the
said so-called National Capital Savings,
Building and Loan Society of North
America. We also find that the alleged
Illinois corporation issuing the certifi-
Gates OF mem bership to residents in Colo
RADIO have no official character or stand
ing in the state of Colorado, the Illinois
company having failed to file a copy OF
its charter with the secretary of state OF
liar name filed articles of Incorporation
ber, 1890, but up to the present time
your committee has failed to find a
single membership certificate issued
from any Colorado Office by the Colorado
corporation.
In furtherance OF the expressed desire
of the general meeting of the Colorado
shareholders OF the N. @. E. B. and l..
society, your committee consulted A. B.
Seaman, Esq, attorney-at-law, and
sought his advice. Mr.. Seaman thought
that trip to Chicago, with the evidence
in our possession, would probably cause
the parties hereinbefore named to dis
gorge the money obtained by their mis-
Representation, but that it would entail
an expense of $500 for the trip and work
to be done in Chicago. This cost your
committee does not think advisable at
the present time.
A blank form has been framed and
all members of the society who shall
unite with the committee in its propos
ed plan OF operations, will be required
to fill up with his or her own experience
and give power of attorney to the person
who shall be selected trustee by this
meeting to act in the premises.
To carry on the cases against the
aforesaid Downing, Mortimers, w.
Hand, l.. F. Choat, Tallman and Went
worth, and to meet contingent expenses,
the executive committee have voted
unanimously to lay an assessment of
five cents per share on each and every
share issued to members in Colorado.
By close economy the committee hopes
to be able to carry out the expressed
wishes of the Colorado shareholders
with this small sum of money, as the
members of the committee give their
services gratuitously.
In conclusion, we consider that the
plan of the National Capital Savings
Building and Loan society OF North
America, if carried out in good faith, is
good, and we see no reason why, were
economy practiced, that very profita-
BILE business should not be done in Col
orado by this or any other society organ
lied on a similar basis, but with men
who will act fairly by the members.
T. L. CRANDELL.
A. M. YOUNG.
E. III. SALTIEL.
w. G. DYER.
CHARLES S. GRAY.
1t will, therefore, be seen that the
people of Denver had very dear. .expe-
rience at the hands of the National
Capital Savings, Building and Loan
society. In a statement made at
meeting in Denver, it was ascertained
that Parker had submitted enough evil
dence to substantiate his claim that he
had been acting under orders, and was
simply carrying out his part of the pro-
gramme. The Rocky Mountain News
says in regard to this matter: "The