The morning call., 1894-05-26

due to others shall feel it proper to advise that
the resignation be Withdrawn To be threat
ened and abused for not acting when inaction
Is compulsory is getting intolera6le Very re-
To Mr. II. ". Hutton, Chairman Committee
Of DepOsttors Of Peoples Home SGUirtQs Bank
DEAR SIR: Lest my position In the matter OF
the Peoples Home Bank tangle may be mis-
undersi ood by the depOstOrs on whose behalf
you are acting. permit me TO remind you that
Tor The last fortnight have been not only VIII
ing, but eager to resign my dictatorship In
favor of any body OF reputable gentlemen
acceptable TO the depositoTs OF the BANK with
which have ben identified have no apollo
gles 10 make for any OF my conduct IN relation
10 the bauk, and wish ii distinctly understood
that my Willingness TO resign has been due
solely 10 desire to avoid the appearance of
obStnately antagOniZing the wishes OF the
respectable number OF depoStors who have
urged change OF management My resigna-
ton was placed in the hands OF Mr.. Ed j.
IiYeTnash TWO weeks ago without any cOndl-
tiOnS or limitations whatever This resignation
Mr. Llvernash delivered TO Messrs. ID -lmas &
ShoTtri1Ee, attorneys for the bank. with the
understanding that II should be lald before the
directors whenever Judge Hebbard should have
so far modified his restraining order as 10 per
init the resignation TO be accepted.
cannot see that can do anything further TO
demonstrate my good faith In this matter.
That tue resignation has not long since be
acted upon IS In no sense due TO m. very
respectfully, GEORGE P. kEENEY.
1t was announced al meeting of the
bank depOsitors held in Foresters' Hall
last night that the resignation OF five di-
rectOrs had been received, but as Judge
Hebbard had refused TO modify his
restraining order the old directory was
not permitted to meet and allow their
designations TO be made effective. W. II.
Hutton charged Receiver Sheehan with
being the obstacle in the way now. He
announced that in spite of Judge Heb
bard's order be thought that Delmas and
Shortridge would call the directory TO-
gether Today and have their designations
made effective at the risk Of being in con-
tempt of court.
Thomas Mahoney thought that the rope
was still needed, but the sense BOf the
meeting was very strongly against the
use of incendiary language.
NJ. Harris. referring 10 Judge Hebbard.
said: IF we should go tC the Union
League CLUB we should find him. Receiver
Sbeehan and Attorney Watt together"
This remark was called forth by
motion that the deDOSltors wait on Judge
Hebbard to ask him to modify his ORDER.
1t was finally decided 10 attempt to get
the signatures to majority Of the amounts
deposited IN the bank, and everybody
present was appointed a committee of one
10 aid in getting these signatures, which
Will be presented to Judge Hebbard with a
request TO modify his decree. 1t was re-
queSted that all the lists be handed in at
the Office of Dr. NJ. II. Logan. 101 Grant
ofNHNNs ONASAO - " NiOOh O1 1uCoudS n4LOl-
noon.
The letter Of Receiver Sheehan was
read. II. W. Hutton, T. McCarty and II.
d. Pike denounced his statements as
untrue. 1t was finally decided to invest-
gate the matter and the following were
named as 4 committee Of five on nvestiga-
ton: T. 5. Williams, DR.. ID, Mclean, a.
j. McNlcoll. Louis Il. Mooser and +. i.
Apple.
The motions TO dissolve numerous at
tachments against the Pacific Bank came
no for argument yesterday morning before
Judge Hebbard. The cases in question
we're those of Chapman, Maldouado,
Hooper, Columbus Borax Company.
Crane, Murphy, Gator, Kampe, National
Mercantile Bank of Baltimore, Payne,
Waldron, Pacific Mutual Life Insurance
Company, Wilson. Schlegel, Fitch, NORM
and Rlchsher against the Pacific Bank.
and the Pacific Bank against Blair and
Price. These attachments tie up some
thing like $4,000.
Not many OF the attorneys Interested in
the case were present. Accordingly, when
certain arguments had been presented
Judge Hebbard called upon eX-Judge saw
yer TO speak as amicus cuTi3.
Judge Sawyer said that on and after the
23i of Jane last year the Pacific Bank was
/ legally dead and that an attachment after
that date could not hold. As to the money,
it was desirable TO free 1t from its present
restraint, as much more good could be
done by handing it over to the bank man
ayers for the benefit of the depostors.
1t was believed that a fairly successful
result would be arrived at in the winding
up of the affairs of the bank. Captain
James NJ. Mcdonald. the president. had
announced his intention of paying up his
pro rata share of the liabilities for the
bene fit of the dep0sitors and would give
his check for the amount as soon as Il
could be determined.
Judge Sawyer said that he had received
word from DR.. Mcdonald in New York to
a similar effect. There was every reason
to suppose that the doctor would follow
| Captain Jim's example and pay his share
of the losses.
In the course of his argument ex-Judge
Sawyer paid a pleasing tribute to Judge
| Hebbard for the course be has pursued in
all these bank difficulties. Dir. Sawyer
said: Pm glad that your Honor did what
you did in this matter. Pm glad that you
| put the Bank Commissioners in power.
/ You did well In that and by your action
! you have saved the assets of The bank
You have saved the assets, for If you
! had not put in the Bank Commissioners
! there would not have been a cent left for
! the Sheriff or any of the creditors. 1t was
| the most judicIOus act ever done by a
| court. Every depOsitOr ought to be CRATE
! full and well satisfied with your ruling in
! this matter, although the Supreme Court
! has to some extent set it aside.
II mean no flattery 10 the court, but !
! do love a just Judge. ! do love a Judge
! that don't know the difference between
men and corporations. When the bench
! is filed with such men then the country is
/ safe and the people saved. That is what
we ought to have. We want more of such
| Judges.
Your Honor has preserved the affairs
| OF the bank and the moneys in it; and in
! proof of this | turn tn the PaOnla'S Hotpa
Savings Bank, which has been run by a
rotten set Of directors, men unfaithful to
their trust, some of them where they
ought to be. and perhaps more TO folio W. "
The motions to dissolve the attachments
were ordered submitted.