Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-09-20
MIS-. TERESA D. WITH.
Private and Class Lessons sivsa IN 0rdwihs
and Painting
Buliard Street, SILVER CITY, II. N.


Last Tuesday evening there was a
meeting Of depositors In the defunct
First National Bank Of this city at @. O.
ShoemRker's store. The meeting was
called 10 talk over the situation and see
whether any additional information could
be obtained ~ TO the condition Of adnirs.
DR.. Louis Hennon was elected chair
man OF tho meeting and stated the object
for which il was called. Il ives suggested
that as the receiver Of the bank was ia
town he might be able TO give some
information as 70 the condition OF the
affairs Of the bank. A committee was
accordingly appointed to whit on the
receiver and request him to come 10 the
meeting and explain the situation as far
as possible. he was found in ~consulta-
ton with Col. Pickett and said that he
would come in a few minutes.
While waiting for the receiver the
dePositors talked over the situation and
interesting Information in reference to
the Deming bank which is largely in
debted TO the defunct bank here was
given by Col. Lockhart.
When the receiver arrived the chair
man stated TO him the object OF tho
meeting and said that the depositors
we're anxious to know what the pros
poets Of a settlement with the ~depositors
were. The receiver stated that he came
here a short time before the opening OF
the spring term Of court here and did
not care to commence suits at that time,
but chat every effort had been made 10
collect the notes due the bank. He
said that some money had been collected
aud that about $4,000 had been sent to
Washington. He had commenced no
suits yet but proposed to sue those who
did not pay. The statement that only
about $4,000 we're available for the pay
ment Of liabilities aggregating about
$4,000 fell like a wet blanket on the
meeting.
Some one asked il an Assessment had
been levied on the stockholders Of the
bank here and the receiver replied that
no assessment had been levied although
he had recommended &C. He stated thai
an assessment Of 80 per cent. had beer
levied on the stockholders Of the First
National Bank at Deming and that {
considerable sum had been paid in. H,
estimated that an assessment Of 100 PEI
cent. on the stockholders of this banl
would bring in about $4,000. He stateC
that he had recommended TO the comp
troller Of the currency about a month
ago that an assessment be levied bu.
that the comptroller thought an assess
ment at that time would be premature
In reply to a question as TO whether
petition, signed by the depositors, woul,
have any effect on the comptroller h,
stated that he thought it would not.
The receiver was given .avote Of thank
for the information which he had givel
and he retired. The ~depositors wore no
at all pleased with the situation an,
decided to use every means 10 induce tn
comptroller to levy an assessment. 4
committee was appointed by the chair
man, to which the chairman was adde,
by a vote Of the depositors, to communi
cate with the comptroller in refereno
to the matter. The committee wal
given fnll power 10 represent the depos
itors and q determined effort will b
made to protect the depositors in Ia
bank.
The receiver refused to give any infor
nation whatever to any Of the depositor
in reference to the notes held by tn
bank 50 that they might form an idea a
to whether the notes were good or moi
except that he said that o. II. Dane ha
borrowed Of the bank all that the la'
allowed him to borrow, Bnt did not stat
whether he had borrowed more than th
law allowed him to borrow.
1t has been more than seven month
and & half since the bank failed, and q
there was considerable cash on han
when the doors OF the bank were closeC
IL appears that collections have beeI
pretty small for that length Of TIM
The receiver volunteered the opinio
that the depositors would be paid / n fu.
in time but the depositors do not appel
to share this opinion.
Thomas Foster has purchased tb
l. o. o. +. building and win repair it 10
mediately. The lower floor will be atts
up for a plumbing shop and quarters f
the water company and the second 10,
win DO rented 90 one Of the l. o. o.
lodges.
, Silver City Gets Second Place.
r,o cn,o. c;.u -