Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1893-11-02
The Experts Report,

Inc expert, WhlCn was nlTed AT
an expense of $3.50 and paid out of
the depositors money, has made
report and the result has been just
what has been feared by many of
the defrauded depositors. \ mass
and array OF figures are made which
are truly formidable especially to
the depoSitor who had his all in
that concern, and most of them
pause to wonder, after reading the
report, where they are at. Well,
let's take the experts figures and
reckon things in common sense
way little. The capital stock of
the bank on the day of closing was
ostensibly $40, 1000, but the Job
brothers owed the bank at that
time on notes and accounts Sa4,-
456.7S, leaving actually but SIS.
543,2a of capital stock remaining.
There was another shortage and
charged to the long and short
account" Of 81, 2,63S.32, which re-
duced the capital stock to SII, ,9o4.-
90. Not much OF a capital stock
for bank whose head man made a
business of buying in railroads at
two million dollars each. The
Niagara mill steal would not white
wash, in spite of the experts evident
inteut to do so. That $43,634 is a
standing evidence of depositors
money misappropriated. The re-
port shows that while the Jobs had
really but SII, ,9o4. so they still in
vested S26,a46 in real estate, $43,'
634 in the mills, aud converted or
conveyed Sa43I5 in notes to some
source to which they are not trace
able. The expert "gaesses" that
they tradel them for real estate.
1t is also stated that S4976 was
paid out for real estate of which
there is no record. This makes a
total investment for their own bene.
fit of ST., ,267 iii excess of the capi.
tai stock, OF i'll other words, made
with depositors money, The re,
port concludes with the admission
that the moneys invested in the
mill property and the other real
estate were diverted from the prop.
er care and custody of the bank
but still asserts that the banker,
were strictly honest and "reliec
implicitly on each other" They
could afford to.
The report, while trying to max,
a good showing, proves beyono
doubt that the bank of Hamilton
q Job & Co. was run by a set o
swindlers or by set of the mos
totally ignorant men that eve
tried to do business in the state o
Oregon. The idea of never having
a trial balance made of the book il
= seven yearsl Was ii honest to LOAF
money to each other out of tn
funds of the bank without securit,
even after the capital stock ha,
long been invested i'll private will
: cat schemes? What has become G
! the S24, 900 and over that are shor
. i'll the note accounts' The prope
court should ask the gentleman t
' explain.
The report explodes the oft tol
3 tale that they hoped to pull through
Any man with spoon full ofbrain
could have told that the thing wa
to fall to pieces of its own rotten
ness. They could not help BIT
T know that the bank was going ,
= bust, and every dollar they receive
+ on deposit during at least the la
= week, or month, should lay thei
D., open to prosecution for receivin
# deposits when in an insolvent cond
t tion.
# Mark the result. There is ma
e in Jail at Corvallis for stealing
suit of clothes. He has no none,
V and we assert that he will be SCI
TO the pen, aud deservedly, to-
What then will be the penalty
IF the promoters Of the giant outral
that robbed men, and women, eve
, orphan children Of their all. WI
| they go ireer