The San Francisco call., 1896-10-13
Depositors Have Lost Only Three
and Sixty.Nine. .One-Hun-
dredths Per Cent.
THE ODD FELLOWS BANK.
Directors Notified to Wind Up the
Business in Eight Months.
Big Deficit.

The affairs of the Masonic Bank, whicl
had been in liquidation for number o
years, have been wound up, the depositor
have been paid SO 81 per cent, and nov
nothing remains for the directors to d.
but to disincorporate.
This bank was incorporated as a com
mercial and savings bank on the 14th o
November, 1869, and commenced business
on the 9th of February following, and th'
following-named, all members of tht
Masonic fraternity, composed the board o
directors: L. E. Pratt, M. r. Roberts, @
S. Hobbs, G. H. Wetherbee, Hiram Rose
krans, George Robins, Frank Smith, w
d. Culver, J. F. Snow, Hiram T. Graves
J. Kittridge. W. T. Garratt and Franz
Eastman, of which L. E. Pratt was presi
dent. George Robins was the cashier
The amount of capital stock was $3.50, 900
which was fully paid up.
The bank was doing considerable busi
ness and was supposed to be on the higt
road to prosperity, when suddenly on the
10th of August, 1878, the first Board o.
Bank Commissioners that had been IN
vestigating its affairs gave notice that il
must cease doing business, assigning as 6
reason that the bank had been making
loans on security that did not represent
the amount of the loans. The directors
asked for time, asserting that they would
in very short time be able to meet the
deficiency. The reply of the commission
ers was that the bank might remain open,
but that 1t must not receive any more de-
posits. The commissioners, on the day
they received notice, decided to go into
liquidation, and the doors were closed.
This occasioned considerable excitement
at that time. Since then the directors
realized on the assets to meet the obliga-
tions amounting to 81. 0S4, 900 due deposit
ors, with the result that the loss they sus-
tanned is but 3.69 per cent.
OF the original directors Pratt, hobbs,
Wetherbee. Rosekrans, Kittridge, Gar
ratt and Eastman are dead.
"The directors of the Odd Fellows Saw
ings Bank have to close up their affairs in
eight months" said G. II. Dunsmore,
secretary of the State Bank Commission.
That bank, of which III. B. Brooks was
president and James Benson secretary,
comme enced business on the 1st of Decem-
Der, 1866, originally as a mutual bank, but
on the Oath of June it was reorganized
under the provisions OF section 800 OF the
Civil Code, with capital stock of $3.50, :
600. On account of trouble about loans
the bank went in to liquidation February
5, 1879, owing depositors, including the
amount due other banks, So, Ill, 120 IL.
Since then sixteen dividends. amounting
in the aggregate to 81, ,S29 S01 92, or 871z
per cent, have been declared. OF this
amount the sum of $50, ,67S 20 in dividends
h ad not been called for on the 31st of last
July.
There is now due depositors 1854 $40,
and other liabilities amount to $2943 SO,
making $267, ,583 SO. To this must be added
the capital paid in coin, $128,9 and
the $22,678 20 unpaid dividends, which
make the total liabilities $419, 237 38.
The resources are: Real estate in San
Francisco. valued at $7002 20; real estate
in Suffer County (under water), valued at
$48, ,636 20; money on hand, 1888 So; due
from banks and bankers, S46, 202 OIL; fur
niture estimated at $40 rs, and other
assets, $18 AZ; total $102, 739 OIL, with which
to meet deficit of $316, ,49S 81. The assets,
it is thought, will not realize the amount
stated, for the reason the land in Sutter
will not bring the sum named. The nexi
dividend will be very small one.