The morning call., 1894-06-02
WARS OF WORDS.
Shortridge Engages With
Judge Hebbard.
BUT ESCAPES COMMITTAL.
Depositors Gather in Numbers
to Hear Their Fate.
INJUNCTION NOT YET MODIFIED.
A Stormy Scene in Which the
INJUNCTION NOT YET MODIFIED.
A Stormy Scene in Which the
Unfortunate Creditors Play the
Least Important Part.


gether to listen to the adjourned spplica-
ton for modification OF the restraining
order first issued, so as to enable the d.
rectors TO hold a meeting for the purpose
of resigning their trust. The petition frat
came up for hearing on Friday of last
week, but was continued by Judge Heb
bard in order that all the depositors might
receive due notice and be on hand to state
their views if necessary.
Proceedings opened tamey. DR.. Bou-
shey, 20 whom the order to show cause
was granted, was represented by John II.
burst. Attorney General Hart represented
the people of the State, James Alva Watt
appeared for Receiver John F. Sheehan,
II. w. Hutton for a large number of de-
positors, while Henry Z. Highton repre-
resented the bank directors. Messrs. Del
mas and Shortridge appeared in court. but
they did not occupy seats at tho table; on
the contrary. they kept we'll to the back
grOund-at first.
As soon as Judge Hebbard gave orders
to proceed. Mr.. burst rose to move for a
continuance. de understood that there
was another order TO show cause. put in
by Mr.. Highton on behalf of some of the
bank direc'or The papers had not been
served on him, and he wanted time to
make answer TO the statements made on
the directors behalf.
Highton arose and quietly informed
burst that his was motion. not an order,
to show cause.
burst was understood to say that that
was all very well, but in bis judgment
everything should be done advIsedly,
every move made with caution. 1t would
d o no one any harm to have a weeks con-
tinuance, "a no moneys were being eX-
pended. and the banks affairs were in
good hands.
Hutton protested. He said he repre-
scented the only people having any possible
Interest in the matter-the GepositOrs.
The assets of he bank were known to be
Insufficient to pay these depOsitors. and
therefore whatever funds were in the bank
In reality belonged to them. 1t was
ridiculous to say there would be 20 harm
done by granting a continuance. Plenty
of harm would be done 20 these men
who were crying out for their money. some
of them in sore need of it.
AS to bursts complaint regarding ser
vice of papers. Hutton maintained that
the papers in hightOn's motion had been
served on the plaintiff in this case, and
that was all that was nece ssary. The de-
posters were anxious, the directors were
willing and ready 10 be removed from
office. and why not proceed?
HightOn agreed with the last speaker,
and said there were no legal grounds for
granting any such continuance.
burst said he concurred with Hutton re-
garding the damage done to depositors.
Yet that damage was done when the bank
was in the hands of the directors, not the
court. 1t was different now. and no harm
10 the depositoTs was now being done OF
would be done. THE fact that this motion
is being made by depOsltOrs makes it more
necessary for the court 10 act with eau
tion." said burst. and as for Highton. he
was not to be regarded as representing
anv depOsitOrs at all.
Hignton said that his most learned
friends words were 'fraught with COM
ments which had nothing to do with the
case" Ooe point in which everybody con-
cured was that there shall be a reorgani-
cation, and that the reorganization shall
be immediate. He suggested that there
need be no difficulty in finding successors
TO the retiring directors. Let the court
take the directory and nick out names.
and il would be found that there were any
number, from 100 10 5000 perfectly honest
men out of population of atleast $50, COO
| out of whom could be chosen willing and
suitable persons TO act as directors of the
bank.
burst said that it had been charged that
between Decem Der /, 1898. and May /,
1894. the directors of the Peoples Bank
had wrongfuly, 10 say the least of 1t. ex-
pended S92. GOO of the bank funds, moneys
rightiully belonging TO the depositors. Ii
q new board were elected The successors
might frtter away like sum in like
space of time.
Highion rose to say few words more.
He said that the court, attorneys and de-
positOrs could get out their directories,
pick any number of names, put them in a
hat and draw therefrom the new board of
directors. That was a feasible PROPOSE
sition and the best way of settling the
matter.
Hutton said it was har1 to get good men
TO serve. SutrO had been asked, j. j.
Valentine and others had been solicited TO
form new board of directors. They had
refused. Now Hutton held IN his hand
slip OF paper containing five names, which
had been approved by all parties. What
possible objection could there be TO appoint
ing these men to succeed the retiring di-
rectors? Let the proceedings go ahead at
once.
AT this moment Mr.. Shortridge arose TO
speak. After a few preliminary re-
marks he said: LAS attorney for the bank
| was surprised and annoyed at certain
remarks of counsel in court. have been
more than annoyed at the Incorporate
language of aggrieved depostors directed
against men who are as yet un heard. And
now counsel throws out insinuatlons
against men who, neither in this court nor
elsew here. have received the hearing which
dog is entitled TO. to say nothing OF an
American citizen. L"
"One moment, sir" interrupted the
Judge, his eyes flashing
"Mr. Reporter, please read that last SEN
tence again"
The reporter did as he was hidden. and
Judge Hebbard pointing finger at Short
ridge, said, do you-do you mean that?"
''As was saying" returned Shortridge.
e"
81 ask you again." interrupted Judge
Hebbard, do you mean that"
"a How me 10 finish my sentence" re-
piled Shortr idge. not at all awed He
then described how these men. these
accused bank directors, had received no
hearing. They had been condemned with
out trial.
Judge Hebbard allowed Shortridge to
finish his sentence. and then repeated his
question.
Il cast no accusation UPON your Honor"
returned Shortridge.
Then please explain what YOU meant
by those words you uttered. Read them
again, MIR. Reporter"
Shortridge repeated his explanation,
and it was accepted.
Hutton rose to inflict another speech up
on the assemhlage. put the Judge checked
bin, ana turning TO The assembled deposi-
tors spoke as follows:
Now, gentlemen, that is enough so far as the
motion Tor a continuance Is conc rned. / am
| very glad that Mr.. Shortridge has accumulated
the point regarding the deposilors. IL was for
In purpose mainly that l advised their COM
| mitiees coming here, because | wanted them
| 10 understand that, and Mr.. Shortridge has
| mad Ii exceedingly plain that The depositOrs
themselves. neither as individuals nor az
BODY, have any legal standing In this court. But