The morning call., 1894-04-29
CHECKS AT WILL.
How Dick Mcdonald Had
Them HOnOred.
SECRETARY PALMER TALKS.
No Directors Except Such as VIII
Yield Him Their Stock and
Their Resignation.

The Peoples Home Savings Bank may
be closed tomorrow and receiver placed
temporarily in charge.
1t was the fear of such contingency,
probably, which caused secret meeting
of the directors of the bank last evening,
and the payment of salaries in advance of
the payday may also have been fastened
by this fear.
A remarkable statement is credited to
Dick Mcdonald. 1t is this:
81 have had enough of directors from
whom have had to conceal things. Twill
have no one on the board whose stock and
whose resignation do not carry in my
pocket"
Acknowledgement Hart will go to Saora-
mento to-day and confer with the Gov
ernor. He states that he will probably
make his final report Oh Wednesday. 1t
is believed that his report Will favor the
appointment of receiver.
There are certain things In connection
with the Peoples Home Savings Bank
which the Bank Commissioners did not
discover and which has only become public
since their report was made.
W. +. Palmer, the secretary, states that
there are checks in tho bank upon which
money has been paid that were drawn by
Dick Mcdonald and cashed by the pay
ing teller. These checks were not made
payable TO any name, ana the purpose for
which the money was paid does not ap-
pear except in certain instances, where it
is described as for contingent expenses.
There was meeting of the directors OF
the bank at II 80 o'clock Yesterday morn
ing, at which Directors BOuShey, Schulz
Jenkins and Montgomery were present
w. E. Palmer was removed as secretary
and Emil Bellerman was elected secre-
tary pro tenn. Palmer remained at the
meeting, however. l.. E. Phillips, by res
olution, was voted 500 as attorneys fees
and Delmas and Shortridge $4,000. These
fees come out of the funds of the bank,
but at present only $500 Of the money on
hand can be had since the $4,000 remain
ing is credited to a special account.
The board then proceeded to elect Hiram
T. Graves as permanent secretary.
Emil Bellerman was made general man.
ager at a salary of $3.50. his present salary.
Dick Mcdonald as vice-president remains
vice. president, with the right to sign
checks and the power practically of gen.
eral manager, with his salary untouched
Palmer refused to surrender his position
as secretary on tie ground that he was
elected for year with stated salary, and
further added that there was nothing in
the bylaws which directed him to obey
Dick Mcdonald against the dictates of his
own conscience.
The board ordered the salaries paid yes
terday, which fall due on the 30th day of
the month.
In speaking of the resolution to remove
him from the secretaryship, Mr. Palmer
said last evening:
"Dick Mcdonald ordered me not to tell
| the Bank Commissioners anything, or to
give them any information which would
assist their investigation. l was placed
under oath, and | told the Bank Commits
sioners the truth"
The next move, 1t is said, will be to GUST
DR.. BCushey from the presidency. as Dick
Mcdonald desires to have Montgomery
occupy the position.
A meeting of depositors was also held
last evening, though the attendance was
not very large, only few of the many
hundred dep0sitors being present. The
purpose of thu meeting was to outline
some plan OF action, in view of recent de-
velopments, to submit to meeting " hen
a greater number of depositors are ex-
pected to be present The plan did not get
beyond the preliminary stage.
When the Peoples Home Savings Bank
took quarters in the Flood building, Frank
V. Mcdonald fitted up a ladies' parlor in
very luxurious style. Costly furniture
was placed in the parlor, there were gold
fish and singing birds and beautiful cur
tains.
Nearly all the furnishings have disap-
peared, and it Is charged by employees for
merly connected with the bank that the
canaries and Italian lnnet now delight
the home of Dick Mcdonald on Seven
:eenth street, and that the goldfish disport
themselves in globe In his residence.