Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-06-15

have they rendered their Resignation,
among them u. =. Nichols, who had
hoped would accept Tor the time being,
~ least the vlce.pfogidenry aud who
" PRECEDENT % the Genital trust COM
pany. ! have earnestly onleavorod %
supply tlio vacancies in the boani with
other desirable men, but under the cir.
cumsiancCe, few such arc n,ailahlc.n
Dfrw adds. "Uuisido II the account
Of the city treasurer, who has All al0ng
cndcayOfvd 10 assist the hank, ~ far
~ hn properly could, by puttlng In
every Jay checks, etc. IN the bank Ia
cover, ~ far ~ possible, his drafts the
next day through other banks ur the
Keystone National bank, tho indl.
vidunl deposits have diminished
since February 10Th n lit.
tie more than s2Oo,0Op. a large
amount could b- collected nom
ovcfdrafls and overdue papers aud, IN
shofi, n the directors % the bank
tho work Into thcir own hands instead
u placing u on tho President, who Il
absorbed In other matters necessarily
/ connected with tho conduct ~ tho
bank under tho present embarrassing
/ circumstances, sln1,O11 NJ least could
10 collected ff1m these sources m a
short time" This letter by Dfcw con.
cludrs thus; 81 am greatly dlsappolnt.
ed In finding - little active support
given by the dirccion' Ia the ciiott 10
rchuhlliato the hauk.n
Tho above reached Lacey ON tho
10Th, aud three days later lac
cfusyp Tttp RANK.
"My object la thi. l., n possible, Z"
wrote Lacey, "to arrive NJ precisely
the amount " the deficiency necessary
10 make up by assessments upon the
capital stock, I should bu glad 10 so.
any committee Of tho hoarl which
may visit Washington, but can con-
cciye Of no better way 10 put tho inHti.
tuition In nrt.class shape than that
suggested by me. ono thing Is GER
tain, that some action Il imperativcly
necessary, and the sooner II Il taacn
thu better will We the result"
The next communication referring
10 this matter seems 10 have been the
final aud formal rrport Rs developed
| by the examination, which had been
| IN progress continuously since tho com.
munication Of January 9Th. This IL
dated February .sth.
"Haylng duly considered tho Items
stated In the Trpoft,p says Lacey, "it
becomcs apparent that an impairment
Of tho capital existed 10 the extent ofAt
least $3.50, 90, whercupon, under date
Of March 9Th, I levied an assessment
of sgj0,001 upon tho association q
make good the impairment of tho CAPT.
tai 10 that amount"
''rhs tank was closed on the 10Th Of
March, continued Lacey, "and did
not reopen Tor business. The order 10
close was given after an Interview with
Marsh. He informed mo Of the fact
that certificates representing about
$500 shares Of stock In tho Keystone
National bank had been
IMPROPERLY DELIVERED ~ JoIlS
wAsAMAiSEt
during tho lifetime Of John q. Lucas,
aud that negotiations for tho surrender
aud cancellation Of the same hal
hilod, fur the fpason that wanamakef
claimed 10 hold them ~ n pledge for
the payment Of n certain sum u money
due him from tho estate Of John q.
Lucas, and he declined 10 surrender
the stock until the debt whH paid,
"complaint ha. been made because
OF the delay Ia appointing q receiver.
This Il utterly Without force, m no In.
trfvst whatever las hereby suffered
and for the further reason that tho de-
Law was not unusual. Tile hank closed
March LIST aud there was receiver ap.
polntrd May ON. This bank was
,heriotc IN the hands Of the examiner
nav DAYS after being closed, during
which time he was MA acting receiver.
The COMPTROLLER has hcen criticised
Tor three things. Firi, for allowing
Manh 10 remain In the office aftUr Ills
confession aud not cnuaing his arrest.
Second, for delay Ia cloring the bank,
Thlri, Tor delay Ia appointing n 10.
erlyer. A. 10 the matters complained
OF [ have this 10 say, that l am no.
where charged with any responsibility
ia connection with the criminal prose-
BUTTONS, II II the duty Of III. bank
examiner TO lay before tho United
state Attorney any facts involving
crime which may come 10 hls know.
ledge ia the discharge OF his duties.
Every bank examiner l. instructed
and expected 10 do this. And would
| Uuk uNulu INV NhhethasAh hheN 49,"
hNd discharged his duty after reading
Ills letter Of January .ith, Ia which
bo says he assisted In securing settle,
mont with Lucas estate by United
statrs District Attorney Reed.
~ had the right 10 supposo thht from
that time on 10 III. fiual arrest the
Intel states district attorney wa
hllly Informed M 10 MaTsh's conduct
also the clearing house oommi'leo, with
the directors II the board, who were
really responsible parties, and the OK
amlner. Second, for delay In closing
the hank. desire 10 FAY that lht
comptroller 10 governed by tho pfovl'
slons on tho acl OF January 10, 1870
The entire force Of the criticism j. mar
row ed down 10 thisi That tho comp
iroll.r h conscious OF the exercise OF tht
Dissection imposed upon hun by tht
stat,,te, and decided that i was wlsesl
and best 10 Impose the lighter o. th'
Two penalties which the law provides
and give the bank fourteen days u
YI,ieh 10 nay the assessmonti undel
ssrtion sos, rather than immeIlatcly
order II closed, with all that hueh
disaster would mean"
TELEGRAM rRoM wANAnAREh'
Third, for delay In appointing a 70
eeIyer. This ofiioi'm lsoi very nun
imuortauce. In any event, " las pe.l