The morning call., 1894-05-26
suit of this meeting the following paper
was circulated among the depositors for
signature yesterday:

suit OF this meeting the following paper
was circulated among the depositors for
signature yesterday:
W. SAN FRANCISCO. May 20, 1894
We. the undersigned, depositoTs Or Stocl,
holders, or both, of tie PEOPLES Home SAVINGS
baak, hereby agree that a committee of five de-
poSiSoIS pe CHOSEN 10 act In conjunction with
IN. Board OF State Bank Commissioners in tha
adjustment OF tile affairs of the bank, and that
sa 9dcl committee and Board OF Bank Commits
sloners are authorized and requested TO name a
ooafd OF directors 10 control the business OF
said bank.
We hereby select the following named de-
them 10 act for us. viz:
Colonel George Stone, sos California street.
6neapnresehting IN deposits $500; Z. Il. knight,
ZZZl Greenwich street a deuosiiOr and owner
OF tnirty-thTee shares Of stock. General Robert
a. Friedrich. Chronicle building. representing
10 deposits $4,000; L. II. Clement. 1901 Pine
sIeel, REPRESENTING In deposits S12OO: y. @ old
stock.
?, petition was also presented to Judge
Hebbard. which reads as follows:
SAN FRANCISCO, May 20. 1894.
Hon. j. c. b. HeJ5drd. Presiding Judge Of the
superior Court, san Francisco C0l.-SIR: We
are authorized by a number of deposltors TO
inform you that movement is on foot TO
i,.,I,tiS. an iiOHSSt SAp'So9lOit VI INC slocA-
Hoiuefs ana dep0sltors Of the Peoples
home Savings Bank regarding lie fu-
lure management of that institution, as VIII be
seen by the document which accompanies this
letter, and which is now being circulated for
signatures OF interested persons.
We therefore respectfully ask you not 10
modify The injunction respecting the present
board OF directors OF the bank until our com
mittee is prepar TO present its statement.
very respectfully. +. Wander Nalllen Jr.. en-
glneeT, Bancroft building; II. ;. Stedman pro-
pretor MauVais' MuSlc-stOTe; l. Sam Straus,
Flood building
When several hundred names have been
added TO the paper recommending the APP
pointment of .Messrs. Stone, Knight,
Friedrich. Clement and Goldtree as a
committee to act for the depUsitors mass
meeting Will be called.
In speaking of this matter Yesterday
General Friedrich said 81 have not $4,000
on deposit, but a smaller sum, but | repre-
sent other deposits. | attended the first
meeting of the dep0sit0rs on Mission
street, but the proceedings were so turbu-
lent that did not care to 20 10 a second
gathering. l think the course pursued by
Judge Hebbard emnently a proper one,
The appointment of Receiver Sheehan was
the correct thing TO do. | have confidence
in him and l hope that be will be retained
and be permitted to close up the affairs of
the bank"
Z. II. knight declared that the inaugu-
TatiOn OF the new movement was for the
purpose of getting a better expression of
opinion from the conservative deposit-
oTs. He thought the depostors who at
tended the meetings recently held in B'nai
nth hall were honest, out he did not
approve OF the radical language used at
such meetings.
Receiver Sheehan sent communication
to the deposltOrs through its chairman for
consideration at the meeting last night. Ii
is as follows:
SAN FRANCISCO, May %. 1894
To the Chairnan II Nseting Of DepositOrs
Of Pe0pteS Home SUCiHqs BuHE-SIR | re-
greet exceedingly that any friction should have
arisen between ;the officer appointed by the
court TO take charge Of the Peoples Home
Savings Bank and the committee your body
appointed TO look after the interests Of deposit
orS / can safely say that no one VIII assert
that individually or collectively the committee
has not been accorded every facility for gain
ing information at the bank which would en-
abIe II 10 make an honest intelligent report 10
your body.
My clam is that such a report was not made
by the committee on May 10. aud four members
II the committee have privately stated since
then that they believed they had made a mis-
lake. one thr. Eike) going so far as 10 say that
he never approved of certain p1rii0ns OF the
report, but was overruled. cal-d Mr.. Hut
| toms attention to the matter and displayed
GOOD proof TO sustain me. but liz has thus far
failed 10 make the correction. The committee
especially Mr.. Hutton. has been in frequent
consultation with MI. Liyernash. attorney for
K. IL. Mcdonald Jr., and have been Informed
by memuers Of your committee that they OBJ
tanned their information from him or through
his friends.
Ii would appear that while have been at
tenClng 10 the business OF the bank those who
should be III accord ana sympathy with my
work have devoted much of their time 10 listen
ing 10 and conniying with persons who disap-
prove of the action of the court in saving what
remains OF tile property 10 depositCr.
AS to assertions that have been made re-
garding Mr.. Huton's action l nave only 10 say
III have The proofs in writing sustained by
afhdavIts OF reputable men. l asked him TO
call meeting OF his committee and stated that
/ was prepared TO present my proofs before
that body or at the meeting Of depOsitOrs He
has declined 10 accept my challenge.
now renew the offer and ask you to appoint
a committee of three or i've coOl-beaded men,
who will hear both sides OF the controversy.
AS 10 lnsinuatioDs coverty made they are
absurd. 1t IS well known That have stated
that this IS not the time 10 dispose of properties
OF the bank, but that the managers should wait
until the return OF better times, when with a
i've real estate market they could realize on
securities and make good showing to de-
pOsitOrs.
In conclusion. let me say that keenly SYM
pathlZe with the depOSitorS whose money is
lost or tied up, and my en0rt shall be as long
as / remain in charge OF the affairs of the bank
to see that every dollar and all property of the
bank IS carefully guarded IN fact TO carry out
the instructions OF his Honor Judge Hebbard,
who came 10 your rescue in the nick of time.
have discharged all clerical force excepting
the secretary AMI type-writist and those In
charge OF the safe deposit department, which is
bringing in some revenue.
Trusting that the affairs OF the bank Will
soon be ID such condition that the work Of
liquidation VIII 90 calmly on, am. very truly
yours, JOHN f. SHEEHAN, Receiver.
The following communications were adj
dressed TO Cha irman Hutton of the de-
posltors' commi ttee of seven yesterday:
SAN FRANCISCO, May %, 1894.
To II. ". Hutton, Chairman Committee Of
DepOSitOrs Peoples Home SGUiHgS Bunk
DEAR SIR: Amidst all the clamOr for change
OF management OF Ihe Peoples Home Savings
Bank Richard II. Mcdonald Jr, Vice-presIdenL
and a director of that corporation, has by my
advice remained silent. Every day has brought
new crop OF cOwardlY lies concerning him,
and life has seemed too short for US 10 en-
d. aYUr to set even half the IN Representations
straight. Time and the law must be relied on
TO give the gentleman The Vlndlcation TO which
] lie is entitled.
II appears expedient, however, to ask you TO
give the deDOs OTS You represent fair state
IN the matter you have in hand that the sins of
Judge Hebbard General Sheehan, Attorney
| Watt, ID. 5. Dorm and others may not be visited
upon aim. IN this r. gard beg TO remind you
that be had signed resignation OF his trust
as vice. president and director of the Peoples
Bank before you made any demand for H. and
that for more than three weeks ii has been
available.
II your committee deems il coou policy as it
probably is. 10 pour hot shot into som bOdy's
camp why hot turn your batteries on Judge
Hebbafd? He could break the deadlOc> at
any moment by making il possible for The d-
IectOrs 10 accept Mr.. McDonald's resignation
without the appearance OF contempt of court.
You very well know that Nh Macdonald is
not standing IN the way OF a settl ment OF the
trouble, and that lie Is not making any attempt
10 control the old board OF directors or TO OBJ
tain control of any board which may be It's
successor. Why not say and fix The Tespon-
sibllity where il belongs? Are you going to