The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-01-19

| Mcdonald Jr. or with any factlon OF Inc
stockholders, that is absolutely unlou 'd
| in fact. No alliances OF any eil NJ oo,',
been made and the position OF tn ne eo or,r,
many is snch that it would not make any
such alliances. 1t seeks TO repre1Ien' I'D I'd
depositors and the depositors only, an
has notified the stockholders tnat u lnIehu'
to sue them, which promise 1t Will Keep:
''On the 18th day of January an aG ISud
was brought by certain OF the stockno toeI-
enjoining the annual election OF tnS 'o,,1
| holders The complaint contained many
| allegations warranting the issue OF lel
straining order, which order was grallleu
| bv Judge Sanderson. This order was
! properly served on the president ana sec
rotary at the meeting, and MI. Watt wde
| notified also by communicatroii q"
! dressed to him. Notwithstanding TINS re-
| straining order under his direction the
meeting was held.
| "Now statement has appeared IN 1HE
| MORNING CALL to the effect that UeheIaI
| Sheehan says that few papers were
| printed with a notice that the pace %
meeting at the annual meetlng OF Tue
| stockholders would be on the fourth moor
| of the Mills building instead OF the TENN.
| The notice was first published on the Zotn
! day of December 1894, and the place OF
meeting was set forth as the fourth moor
of the Mills building. No change was
made in the publication OF the notlce untlI
after the action commenced by US on ene
| 18th dav of January last. Instead OF Jew
papers being printed with the fourth moor
| inserted in the notice it will be observed
| that there was only one issue OF the paper
| noticing the meeting for the 18th day OF
| January, the day of the meeting, ana AFTER
the suit was brought, for the tenth floor,
cit will thus be clearly seen that tne
notice of the meeting was illegal ana that
the statement made by General Sheehan
in THE MORNING CALL was untrue. Inc
trust company has resorted to the courts
only because the rights that were accorded
| to it by law were not being respected py
| Mr.. Watt and General Sheehan. The COM
pany has. no desire to plunge INTO needless
| litigation. It's interests and It's posltlon as
a trust company are antagonlstlc to such a
course. Whenever it undertakes trust.
| however, it will execute 1t regardless OF
consequences, and it proposes to do SO IN
the matter of the Peoples Home Savings
Bank.
stThe attacks on Mccarthy and Mr..
Pike seem to us designed to divert public
attention from the real issues involved.
Such attacks will in no wise deter the COM
PAW from the performance OF It's duty.
| The Bank Commissioners have been inter-
viewed by Mr.. Brown and they fully under
stand the position of the company and are
in accord with it, and express themselves
as ready to work in the interests OF the
depositors. We had an interview with the
| Bank Commissioners less than an hour
ago, and they stated that they will do all
in their power in the interest OF the de-
positors."
AS already stated, the depositors are
either angry or sad, and most OF them are
| both. As to what their feelings are for
! Messrs. Sheehan and Watt and the other
manipulators of the systematic scheme OF
| procrastination now being carried out,
| there can be no question. Only few
were interviewed yesterday, but they may
be set down as representative OF the great
mass of depositors. Nearly all of those
named below have deposits exceeding
$4,000.
J. G. Pasco, who resides at 80 Steiner
street, and has the savings of years locked
up in the defunct bank, said: II dom
think Sheehan and Watt and Stone ought
to be left undisturbed to do as they see fit
with what remains of our money. There
they are at high salaries and doing abso-
| lutely no good for the depositors. | don't
believe Sheehan is trying to do any good
wouldn't do any good if he could. He is
| looking out for Sheehan and fat job. He
is the only one benefited, and the longer
he remains where he is, the better it is for
him and the worse for the depositors. The
| fact that he refuses to let the Trust Com
! pany'S representatives examine the books
| looks very bad, according to my way of
| thinking. 1t doesn't look straight. The
| trust company is now the heaviest credi-
| tor of the bank, and is certainly entitled to
| look into the banks accounts, particularly
as the Superior Court has ordered Sheehan
| to give the trust company free access to
| the books.'
81 don't blame Sheehan," said J. R.
Bobst of 1880 Fell street. '.Why should
| he be willing to give up a soft snap or give
away things and information unless COM
PEELED to by law. He and Watt are there
mind, don't say they ought to be there
and are doing as they please. They are
eating us poor fellows out. They drink
champagne; we are glad to drink Spring
Valley water and we can't get that unless
we hustle around and earn money to pay
! for it. But, seriously, [ think Sheehan
and Watt ought to be thrown out with a
suddenness that would make their heads
swim. The trust, company has made
| fair and honorable proposition and hope
| 1t will have chance to wind up the
banks affairs. | don't see why the Bank
Commissioners don't take hold of this case
and do something for the depositors.
There seems to be no law in the land, or,
| if there is, it doesn't seem to be able to
curb Sheehan and Watt in their inyasions
of the rights of decent citizens"
| w. II. Dennis is an Alamedan, but that
| fact did not prevent him from getting bad
| ~ pinched, with all his accumulated saw
| ings in the Peoples Home Bank. Mr..
| Dennis doesn't love Sheehan with a love
that passeth understanding. While speak
ing about his sequestered hoard yesterday,
he said: "Ah! there's funny work going
on. 1t has been going on all along. The
McDonalds are pulling the wires. Some
of them have been pulled even from the
County Jail. Sheehan, Watt and all that
outfit ought to be put out and the trust
company put in. Then the banks tangles
would be unraveled and the depositors
would get something. As things are going
| Sheehan and company will eat their heads
off and our heads off too, like boarding
horse that doesn't work"
| S. A. Mcdonnell, druggist at ITO Grant
avenue, who was refused a seat on the
board of directors, thinks the unreasonable
extravaganza of the Sheehan and Watt
regime has gone too far. cts out of all
reason" he said yesterday. 'Just think
of it! The sum of $4,000 aud over expended
in salaries, and for no good result. There
| is absolutely nothing to show for it. 1t is
simply outrageous. The depositors' money
keeps going farther away out of sight each
day."
! Jacob H. Stein, like many of the de-
positors, has practically abandoned hope
and given up in disgust. eve got to a
| r ;,1v l. (, II