Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1893-11-23
DEP0SlT0RS IN The DUMPS,
Little Hope to Recover Much
of Their Hard Earned
Savings.
Where the Money Of the Lloyds
Bank Went. Big Cash
Transactions.
The Dawson Times Gives q
Few Items Learned by a
Creditor.

From the Dawson, N. d., Times: Mon.
day evening, the Times man went down
to jamestown to try to ascertain the
actual condition of affairs in and around
the defunct Lloyds National bank, and,
as many OF our subscribers have deposits
with that institution, and are doubtless
anxious to know what their prospects
are, we nre sorry to have to say that the
nearer We got to the source of the truth,
the less reassurng became the outlook
for a large percentage of the deposits
ever being paid. From evidence placed
before ne, We we're forced to believe that
gross misappropriation or misuse of
the funds of the bank had been made, or
allowed, by the officers OF the bank-so
much for the value of the recently en-
acted and much lauded State Banking
Law
While We are not in possession OF the
details from any official source, the EVIL
dence we have seen leads us to believe
that Wm Lloyd held $50, 900 of the stock
of the defunct bank. and that he had
placed with said bank his note for
$4,000, upon which he had received the
good hard money; that he had received
$4,000 on an overdraft and Sl2, 1000 more
seems to have found its way into his
hungry NAV by other means, which, for
the sake of brevity, we Will call funny
business-s38,000
Another concern, the Live Stock Co..
(Which we understand means one Of the
Lloyds and Dave RusselD have kindly
left their note with the banks assets, for
$4,000, and discounted paper amount
ing to $4,000, as cheering memory to
the creditors-s38,O 900.
Have you not often heard Some smart
Aleck say: "Where do you bury yoar
dead-where's your graveyard" Well,
we understand the Lloyds have one
and it owes the bank $2,44O-an appar-
emily Dead Stock Investment company.
We are also Of the opinion that James
Lloyd held the banks stock to the
amount OF $500 and had left with the
banks assets his valued note for $4,000.
James 10 naturally modest, it appears.
Thirty eight thousand OOO-slO,O 900
makes S85.000.
Then there was H. L. Lloyd, with
stock to bis credit to the amount Of
$4,000. and his note for $1,000. H. is
very modest-ln comparison.
Then comes the Electric Light Co.,
which Is supposed to have been Lloyds)
within the pale IT the assets, with its
note for $4,000; and Otto Gszelle, or
Guzzle, with his handle to $4,000
note; and o. H. Holt, valued by the
bank officers at $4,000. E,ghty.five
Thousand, $1,000, $4,000, $4,000, $lO,-
600 foots up the modest sum Of
s124,9OO. The capital stock was 100000,
the liabilities we're about $500, 900 and
the assets, in this kind Of stu6, were
about 100000. Where are we at?
Is it any wonder that the people Of
jamestown, in fact OF the state, feel
pretty sore over such banking?
We did not meet United States Dis
trict Attorney Camp, he not beng in the
city, and cannot say anything Of the de-
pendence to be placed in the ugly rumors
connecting him with the case; but, per-
sonalIy, we are of the opinion that he
will do what is right and fair to all in-
terests.
Mr.. johnson, the newly appointed per-
manent receiver, has, in our opinion,
taken every precaution possible to pro-
tect the interests OF the creditors OF the
defunct bank, and seems to be thor
oueh going, painstak,ng gentleman, fully
competent to fill the position creditably
and has the thanks OF the Times for his
courteous treatment. For gentleman
coming from another state, presumably
having different laws, he has seemingly
caught on like IN old timer, taking up
the work where left of by Examiner
Thorne and temporary receiver Benton,
with great ease. We believe that both
Thorne and Col. Benton are entitled
to Q vote OF thanks from the creditors
for the psinstak,ng efforts they have put
forth in taking care of their interests"
; In the above statements the reference
to the state banking law ls probably an
oversight, % the Lloyds National bank
va operating only under the national
banking law, which has no connection
whatever with the state bank act.
The reference to Dist. Atty. Camp is
also entirely without foundation, as it is
we'll known to everyone hero that be has