The morning call., 1894-05-13
BANK VALUATIONS WRONG.
Too High d Figure Placed on
the Realty.
ONE OF THE LUCKY DEP0slTORs.
Mrs. Sanborn's Account Not Trans
ferred to the Peoples Home
Bank as Requested.

Receiver Sheehan is continuing his ex-
animation of the assets of the Peoples
Home Savings Bank. In speaking of one
of the resources, the lands of the John
Brown colony, Receiver Sheehan said
Much of the land was released By the
bank without any apparent reason for
such a policy. About 1000 acres remain
under the control CT the bank. At present
there is little demand for vineyard prop
erty. | believe the lands have been ap-
praised too high, but it is possible if next
season should prove good one that the
upon this property.
Vineyard land with water upon 1t is
an asset upon which something can be
realized. In this instance 500 an acre
would perhaps be fair valuation to place
upon the land In the John Brown colony.
This is less than the appraised value of the
property by the bank"
When the mail-carrier arrived at the
Peoples Home Savings Bank door yester-
day he found a tall individual in front of
the building demanding an entrance. and
declaring that if his money was not paid
TO him he would shoot the first man he
saw upon entering the bank.
The stranger disappeared before the ar
rival of the receiver or any Of the attaches
Of the bank.
A fortunate oversight saves Mrs. San
born $1,000. She had that sum on deposit
in the German Savings and Loan Society,
but gave an order for It's transfer to the
Peoples Home Savings Bank. Through
some oversight on the part of the officials
af Oft hd af c
never made, and Mrs. Sanborn's money is
not tied I'D in the doubtful assets of the
Peoples Home Savings Bank.
The Grand Jury will resume its session
on Tuesday next, when a further inquiry
into the affairs of the two wrecked banks
will be made. The proposition to indict
N. H Sherman was made to the jury, but
it is understood that no Indictment will be
returned.
Sherman claims that Dick Mcdonald
and his fIieuds are prosecuting him. Nc
Donald, on the contrary, lays all of the
blame on Sherman's shoulders, declares
that he is responsible for the wrecking of
the banks. and that it is Sherman's infiu-
ence which has caused all of his own re-
cent troubles.
Mcdonald still remains in the County
Jail, and it is understood that no attempt
to secure his release on bail will be made
until the Grand Jury has completed its
work.
There is some speculation as to whether
Frank Y. Mcdonald can be brought
TO this State to answer the charge of
embezzlement preferred against him by
the Grand Jury. AT present he is in Japan
ese jurisd dctioD. and it is doubtful if the
Government of Japan would surrender
him if q demand were to be made for his
extradition.
Hiram I. Graves. who was indicted by
The local Grand Jury, is the secretary of
the United States Grand Jury. Some
question was raised regarding his continu-
auce in the latter Dody. The United
States District Attorney declares that ali
men are presumed to be innocent until
proven guilty, and that Mr.. Graves would
continue to act in the Federal Grand Jury.
Charles r. Montgomery states that
when the proper time comes he will act
and cause the arrest of those whom he
reg rds as the wreckers of the bank. He
states that there are five men upon whom
the guilt rests. and that they will be called
upon before long 70 defend themselves.