The morning call., 1893-09-01
TWICE APPOINTED.
McDade Is Again Named
as Receiver.
WITH WIDE OPEN DOORS.
The Peoples Bank Admits Customers
Regularly and Business Goes
On Quietly.

The creditors of the Pacific Bank who
went before Judge Levy some nights ago
and petitioned for the appointment OF
receiver, which resulted in confession OF
insolvency on the part of the bank off,
cials and the appointment OF Sheriff Me-
Dade as receiver, appeared before Judge
Levy again yesterday. by their attorneys,
and at their request the same order was
again made and Sheriff MeDade reap
pointed.
The reason for this repetition rests in
the fact that one Of the grounds on which
the writ of prohibition recently issued by
the Supreme Court was granted was that
the order appointing the receiver was
premature.
When the petition for the appointment
was first filed it was made returnable on
the oath ult.. and afterward, under stress
OF special circumstances, the appointment
was made prior TO that time. This gave the
people who were opposed TO the appoint
ing of a receiver an opportunity TO say
that they had been taken advantage of in
not being given an opportunity to appear
in court and show cause why the receiver
should not be appoiD ted.
The order made by Judge Levy yester-
day did away with that objection, and
writ of prohibition.
1t was merely legal point to be over
come, and the action of the court removed
the obstacle.
Another reason for the writ being issued
was the argument that the board OF direc-
tors had not been consulted before the
confession of insolvency was made, and if
the matter had been presented to them it
is thought that they might have objected
TO such proceeding.
But at meeting of the directors of the
Pacific Bank, held on Tuesday, a resolu-
tiOn was adopted sustaining the action of
the bank officials. This removes another
reason tor the writs being issued, and
leaves 1t but one of the original arguments
on which il was issued-the question as to
whether the Bank Commissioners were in
possession at the time, and il so whether
a receiver could be appointed.
The question as to diss solvi1g the writ is
TO be argued before the Superior Court on
tuesday, and the argument will simply be
on this point. unless new ones are intro
duced at that time, and the court will then
be called upon TO give an opinion on the
extent OF the Commissioner authority,
and will say whether the receiver can be
appointed while tLey are in charge.
Until that decision matters will remain
as they are in the bank, though of course
the plans for reopenng are being kept in
sight all the time.
L
Yesterday the doors were thrown wide
open in the afternoon. the first time since
the bank closed in June. and a long line
of customers were waited on by the paw
ing teller. In all rs accounts were paid,
their percentage amounting to $500, which
is far in excess of that paid on any previ-
Gus day since the bank opened.
After the doors were regularly opened
number of depoSitors came in and made
deposits, and while they did not equal i'm
number or amount of money those at the
other window tne effect was to restore
confidence very rapidly, and every one in
terested was much encoura ged, and it is
hoped that payment In accordance with
the former rules of the bank may be COM
meneed within short time.
Many small depositors were paid in full
yesterday. which accounts for the large
amount paid out