Kansas City daily journal. [volume] (Kansas City, Mo.) 1892-1897, 1896-12-06
A DISPLAY OF RED TAPE.
OF THE MISSOURI Ma
TIONAL BANK IGNORED.
Unable to Obtain Information as to
the Condition of the Assets From
the Governments Examin-
er-MuSt Await Receiver.

Greatly to the disappointment of the 200
depositors whose cash is tied up in the
vaults of the Missouri National bank, the
week has closed without the slightest in
formation being made public as to what
the real condition of the bank is. When
the doors were closed early in the week
it was said that a statement would be pre-
pared in a few days, but the announcement
was made yesterday that no facts would
he given until after the receiver took
charge and that he would be at liberty to
exercise his judgment as to making or
not making statement.
To the surprise of those who have all
their savings in the defunCt bank, the
committee chosen by the depositOrs have
for four days tried in vain to get some in
formation on which to base report to
the other depOsitors but up to last night
they we're as completely in the dark as
the others. The members of the committee
were not in an am.able mood over their
failure. They feel they have a right to be
speedily informed of the condition of the
assets, but the red tape of federal super
vision shuts them out, and they are denied
even meager information to their pros
rects. Even the stockholders, who met
some of the committeeman yesterday, de-
clared they knew as little as the deposit
OTS.
Plainly the situation shows that the in
teEeSts of the depostors have not been
cared for. The comptroller, with haste
that was surprising, rushed in to secure
for a political fayOrite the fat government
al appointment of receiver against the pro-
tests of nearly all OF the depositorS. An
unnecessary and eXorbltant expense was
thus incurred, and since that time all
efforts have tended to getting the receiver
in charge, 50 that expenses may begin,
while the dopCsltors, whose savings are
tied VI in the bank. Stauu back ana are
told plainly there is no information Tor
them.
To agsravate the situation the depositors.
who at first felt SaugUine OF run settle
meut are hearing continually rumors that
an enormous block OF the paper held by
the bank has been pronounced worthless
by the examiner and thrown 10 one Side
and viii not be included as an asset OF
value. L this rumOr X true, and 1t mas
not been denied. the depos!torS can ilgllre
on a considerable loss and long delay
with the continued heavy expense OF "A re-
CeIvership. estimated to be about *25.pvp
year for three or four years. II the rumor
Is not true . brief statement from those
in authority would TsassuTe the deposit
Ors and cWet their fear. The depusitofs
have more at stake than the government
Why should they not be reassured, II the
This question is being asked by those
whose savings are tied Up. II appears TO
b. much to the point. What interest can
the government have in Suppre$SInS news
that must ultimately be made public?
Nothing is saved by il and nothing would be
lost by giving TO the deposItoTS some def
mite Information. In other failures state
ments have been prepared promptly and
facts given to the public. ana the action
Of Examiner Forman in denying all in
formation 70 the public in this case has
been freely criticised.
Yesterday morning the depositOrs' COM
Serat. J. Il. Franklin. William Zimmerman
and II. J. HuCke, stockholders IN the bank.