The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-18
RESENTED AS A DUTY.
Charges Made by Sheehan
and Watt Taken Up.
BECAUSE THEY ARE UNTRUE.
The Trust Company Objects to SlurS
on Its Honor.
COULD NOT REMAIN LONGER SILENT.
Peoples Bank Political Buzzards"
Brought to Task by the PrOmi-
Rent Institution.
COULD NOT REMAIN LOGGER SILENT.

day by the depOSltOrS OF the HeOple nome
Savings Bank over the vituperation of
Manager John +. Sheehan and Attorney
J. Alva Watt. Hitherto the suspicious
Vaccinations of the clique in control were
covert, but yesterday THE CALL presented
a new phase of the case, in which both
Sheehan and Watt gave their hands away
in a clumsy fashion. No longer is there
any secrecy as to their attitude. They have
shown themselves in a new light. No
wonder the depositors were violently in
dignant
The California Safe Deposit and Trust
Company and its attorneys kept aloof from
the popular feeling which was no part of
their course of action, but they had it out
with Sheehan and Watt in business like
wav. Secretary Brown of the Trust COM
pany and Attorneys Booth and Bartnett
visited the bank Office and held a con-
ference with the manager and attorney.
They made a formal demand to be allowed
TO inspect the books.
''You can inspect everything" Sheehan
replied, elf you dismiss the suits brought
against the directors"
The offer of compromise was promptly
rejected, whereupon Sheehan added:
Then you cannot see anything here"
The mandate was characteristic of the
methods which prevail in the Peoples
Bank office.
The Trust Company's attorneys then
urged that the Peoples Bank directors
should call in all outstanding capital, fully
$3.50 900 OF which can be realized for depoS-
itors. To this request Watt Indignantly
retorted that the bank management knew
its own business, and anyhow it would not
y, g,s- l. |, Il Il 70 q
loss. The delegation then withdrew, feel
ing satisfied that nothing for the best in
terests of depositors could be accomplished
by such men as Watt or Sheehan or their
tools
One more evidence OF the dark ways of
the present regime came to light yesterday.
A long, bold preamble, very unpleasant to
Sheehan and Watt and Judge Hebbard
was presented with resolutions at the
depOsitOrs' maSs-meeting Wednesday
night. 1t mysteriously disappeared from
the press table where Sheehan had stem
ographer, and consequently did not appear
in Yesterdays papers. As it gives a clear
insight into the popular feeling while ex-
posing rottenness in the bank mismanage
ment the preamble is given as follows:
WHEREAS, Upon the expose and fall of the
Mcdonald regime the bank tell INTO the pos
session OF political leeches equally as unScrup-
ulous, by the aid and connivance OF Superior
Judge of this city; and
Whereas, The said Judge in defiance of the
overruling OF his action by the Supreme Court
succeeded in keeping the bank in the hands OF
said political parasites until his term OF Office
as presiding Judge was about to expire, when
he graciously dissolved the receivership, plac-
ing the bank in the hands Of the directors and
leaving his friend still in control, with more
freedom under change of title; and
Whereas, The managers OF the bank, James
Alva Watt and John F. Sheehan, have no inter-
est in it except to line their pockets, while VIC,
the actual signatures of one-haf and morally
oil nE 4 TnrC rofT Ga6 FS0Od 70
quest OF representation on the board OF seven
directors of one practical banker; and
Whereas, Said Sheehan and Watt, in order to
delude the pubic ana cover up their own IN
famous doings, have reflected on our com
mittee, saying another clique wanted to get
control OF the bank; and
Whereas, Said Sheehan and Watt in defiance
Of the injunction and the mandate of the court,
held an election of board of directors in order
to perpetuate themselves in power; and
Whereas, At such election an illustration of
the colossal cheek of said Watt was shown by
his Introduction of a resolution compliment
ing his tool on the Superior bench for his as
sistGnce and approving the action OF himself
and friend Sheehan for taking $4,000 each for
doing little or nothing during the past six
enthusiastically passed; and
Whereas, The present managers have spent,
and intend to spend, $500 per month in ex-
penses, while the California Trust and Safe De-
post Company, a reliable company of thor
ough business men, stand ready to give bonds
for the faithful management of the Peoples
per month, rents and attorneys fees inclusive;
and
Whereas, We have evidence and reliable in
formation that the Dr. Mcdonald stock was
thrown TO the Watt-Sheehan combine at the
last moment with q view TO compromise the in
debtedness OF the Pacific to the Peoples Bank,
TO the detriment OF the latter.
Sheehan and Watt, political buZZards' -
have shown their hand at last without real
izing the absurd position in which they
placed themselves. And now it remains
for the public to judge whether the Peo-
pies Bank management or the industrious
and thrifty but vilely duped depositors
have right on their side.
The leading men, who, at great personal
inconvenience and constant labor. organ
lied their fellow depositors to stop thieYing
and swindling in the bank management,
expressed themselves in no uncertain man
ner yesterday. They were angry beyond
belief at the scurrility Of Sheehan and
Watt in Safeguarding the honest depos-
ltors and were only too willing to make
reply that the public might discern who
the rascals really are.
T. S. Williams, a member of the depOs-
itors committee, which has virtually power
of attorney to act for deposltors to secure
a speedy liquidation of the banks assets,
makes a vigorous and dignified reply to
Sheehan on behalf of the muchmaligned
depositors.
dFirst of all, said he, ~ must take the
position that this is not wrangle for con-
troll of the bank, as Mr.. Sheehan and Mr..
Watt would have the public believe.
I'VE, the committee, look upon General
Sheehan and ]. Alva Watt as political buzz
yards. The bank is in the hands of men
who have not s. of interest in it, with the
single exception of Colonel Stone, who is
stockholder The others are there in the
interest of Sheehan and Watt. SO under
the present regime the expense account of
the bank viii be from $500 to $4,000
month, while the Trust Company has Of
fered to liquidate the bank for $500 a
month. We earnestly look to the Bank
Commissioners to give this matter full con-
sideration. These gentlemen agreed with
us personally as to the extravaganza ex-
pense account, but officially they wanted
to give the matter study before expressing
an opinion.
ITO show you that Sheehan and Watt are
devoid of honor and principle, here is the
delinquent tax list of San Francisco. Shee-
hans name is on the list for SIG IL delin-
quent taxes on furniture and library, and
Watts for $53 80, also delinquent. And
yet they are fully capable of paying their
taxes, as all laB-abiding citizens do. What
we want is men Of honor and absolute hon