Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-10-04
Demiug Victims msla a Meeting.

0H 49,"
A meeting was held 10 the Deming
Club rooms last Friday night Of the vic
Tins, commonly known as ~depositors, Of
the late banking house which was pre-
sided over BY Q. H. Dane, who is now
tangled up in the meahes Of the law TO
answer TO the crime Of embezzlement in
numerous indictments. j. G. Gwinn
presided over the meeting which was an
informal one, as there was no record kept
Of the proceedings. Receiver Smith was
present and on request stated in effect
that there had been about $4,000 col
lected since the affairs OF the bank had
been in his charge and that said amount
was collected principally from stock hold
ers. That assets in promissory notes
held by the bank wa to sil intents and
purposes useless, being unsecured in any
manner. That there was a light percent
Of outstanding indebtedness that would
be collected, and that in about thirty
days, he thought, q dividend would be
declared. He said the expenses Of the
bank was $500 per month; that the bank
owned the building it is occupying and
that 1t received in rent 60 ,OOOP Per annum
that the bank also owned a one half in
terest in tho Deckert block of real estate
from which it was receiving about eco
per month income, but that the banks.
interest was eucnmbered by a mortgage.
That he has two clerks. one Of whom
he will discharge in about two weeks.
He was asked by q depositor iii it were
necessary to have a clerk" to which the
receiver quickly responded with a tinge
Of sharpnoss in the tone, II should not
have had one were it not neSessarY.'
When questioned as TO the delay IN
winding up the affairs Of the bank, said
in reply, that he was aware that he was
slow and offered as a reason the difficult
les he had in collecting, ETC., concluding
by saying, "you would not wonder at me
being slow if you did"
He did not deem it advisable 70 dispose
OF the real estate owned by the bank in
view Of The prevailing hard times. Mr.
Receiver Smith then retired. The de.
positors, after discussing the matter oveI
from every standpoint to touch the OBJ.
ject Of the meeting, which was to devise
means and a method by which some Of
their money could be gotten back quick.
ly, concluded 10 appoint q committee Of
three to attend to the following matters
To employ counsel to work in the inter.
est Of the depositors-to draft q state.
ment in the nature of a complaint to be
addressed to the comptroller Of the cur
rency against the present receiver(Smith
for the reason that the ~depositors have
no confidence in him, in as much as they
have good reason to believe that he il
pursuing a course Of generalization il
%furtherance Of his own interests, and il
consequence, therefore, will respectful,
ask his removal snd that some one els,
be appointed in his plnce. The Gauss
for this move is, that it is alleged tina
he (the Receiver) has furnished purchas
ers for claims held by depositors, anC
that the claims we're bought up at 81
cents on he dollar.
Great Indignation is bit by this com
mhhitS -gainst Dane. 1t is known nov
that his robberies have been systematic
ally worked for years, and an impression
is prevalent that he manipulated a con
spiracy for breadth Of scope unparalleleC
IN the history Of fraudulent bank fail
ures.