The morning call., 1894-05-22

/ OF unrlghteOusneSS. MT. harris SAID
other things. TOO, and with several wicked
words of accent remarked that he had
placed his last money in religious bank.
! Committeeman Mah0ney echoed the re-
marks of Harris. Committeeman and
Secretary Pike emphasized his wrath by
smashing his desk with a well-developed
! fist Committeeman Frace was angry,
| too So was Committeeman Kendall,
/ the quiet man of the seven. Committee
man and Chairman Hutton denounced in
unmeasured terms the duplicity, as he
termed it, of Dr.. Boushey. and was more
than seconded by Committeeman Nc.
Carly.
Then the following singing reply was
drafted and mailed:
SAN Francisco, May 81. 1894.
J. Boushey. I'D, 1903 Mission street, city
DEAR SIR: Your communication 10 The COM
mittee OF depostors of the Peoples Home
Savings Bank of even date received. The COM
mlttee desires tOzsay in reply:
Flrst-Your willingness to resign under Ger.
tain conditions is in direct contradiction TO
your statements heretofore made 10 the com.
miIte which were that under no conditions
would you resign.
! SecOnd-The designations of four members of
the present board OF directors are assured US
] upon Tue presentation VI yours. Is IL pIOpCl
| for you TO ask four men 10 place confidence
In you that you will not place in them?
Thrd-Our assurance In you has always
| been hat these designations should be placed
| in the hands Of the court ana that yours might,
! il you wished it, contain a condition that It
! should be the last presented and acted upon
! and should only take effect when he other
four had resigned and their places had been
! filed
! In view OF these facts we are forced to the
conclusion that your previous statements were
true and that your communication was
prompted solely by the desire 10 remove from
/ your shoulders the onus of the present unsatls.
! factory condition OF affairs.
! SO far as we are concerned we desire the
| resignation Of the present board Of directors,
| the commencement OF The process of liquida-
/ tlOn and The early payment of dividends 10 de-
pOsitOTS. some of whom are In actual want.
You are the only obstacle TO the fulflIment of
| these desires. The covert insiuuaIion in your
communication that the selection of the new
board of directors by his committee is in the
interest Of the Mcdonald faction you know TO
be untrue and childish excuse fox your pres
ent action. The directors we have selected have
been submitted TO you. and you said to-day
that you could find no objection to them.
Our only course under the circumstances is to
call an immediate meeting Of the depositors.
state the whole facts and place the burden of
the delay In the repayment 10 needy depOsitors
of their money where II belongs.
Committee Of depOsitOrs Peoples Home Saw
ings Bank. II. w. HUTTON. Chairman.
Il. D. PIKE. Secretary.
J. a. Watt, attorney for the receiver of
the bank. declared that the choice of d.
rectors which had been reported to him
did not seem a wise one. but was guarded
in his statement as TO his reason for so
viewing it.
Those who are with DR.. Boushey declare
that the names selected by the depositors'
committee were first ratified as a COM
promise between Delmas and Shortridge
and f. J. Livernash, now attorney
for Mcdonald in the criminal charge
now pending against him, They declare
that the committee has not a single resig-
nation Of a member of the board in its
hands They assert that there are four
resign atoms in the possession of Liver
nash, and that the only way the comm itlee
can get these designations is to place on
the proposed new directory such names
only as McDonald's attorney approves.
DR.. Boushey declared yesterday that he
did not propose to be made a catspaw of.
If all the directors would resign he would
gladly do likewise. He stated that he
would place his resign ation in the hands
of Judge Hebbard or THE MORNING CALL
if the other directors would do likewise.
He and his friends seem to believe that
the committee of the depositors is working
in the interest of the McDOnalds. and that
shortly after appointment some Of the pro-
posed directors would be forced out and
then enough to do the bidding of Mcdonald
substituted.
In speaking of this charge that the COM
mittee was under the influence of Nc.
Donald. T. McCarty, one of the committee
men, said:
'It is false. We want to secure q di-
rectory that will work for the interests of
the depositors. The men selected are
pledged to employ bookkeeper and a
manager only, which is amply sufficient
for the work of the bank. and to pay
not more than $500 a month for attorneys
fees. All but one OF the men selected is a
| depositor in the bank. Mcdonnell has
| $1,000 in the institution Culver has $500
and DR.. Logan several hundred dol
lars on deposit. 1t is to their
interests that the bank should be
economically managed. We have been to
see more than hundred men to ask them
| 10 o6INts VIC ILiOu w B6b AuuIpH CulT0,
Percy Beamish and j. j. Valentine to
consent to become directors. They de-
clned, because they could not spare the
time necessary TO devote to the duties of
the Office.
1--WE saw Mr.. Livernash, the attorney
| for Mr.. Mcdonald, and ne stated that Nc
! Donald and three other directors would
resign, but DR.. Boushey was de-
ceivlng US and would not do So
| All that Mr.. Livernash asked was to see
the list from which we were to select the
! five names. in order to strike off anv
name which might be Objectionable
to Mcdonald. Mr.. Livernash said
| that Mcdonald wished the depositors
to get their money, but that he did not
wish any one who might have a personal
| spite against him to 90 on the directory
with the purpose Of deprecating the
securities and entailing further loss on the
/ bank, which might be charged to Nc
Donald.
Eve agreed with Lvernash. We want
to realZs all that can be realized. We
don't want any one to become director
who would injure the depositors' interest
in an attempt TO spite Mcdonald. We are
not for Mcdonald bat the depositors.
| Each of the committeeman selected
| four names. that made twenty-eight
Afterward four more names were added,
making thiriy-two in all. These names