The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-05
REPORT THAT CLOUD HANGS
OVER THE MINNESOTA SAVINGS
BANK.
FRED STEVENS DENIES 1T.
WILLIAM r. BICIxEL ALSO DE-
CI.ARES THE CHARTER Is
WHOLE AND ENTIRE.
TELLS WHEREIN THE VALUE LIES.
Has Had Offers From ST. Paul
RanIsers for It-Ofiicers Have
Plans for REORGANIZATION.

A number of the depOsitOrs of the
Minnesota Savings bank, who are not
at all friendly to the present assignee
or the officers of the suspended bank,
claim that the charter Of the institu-
ton has been clouded and that other
than the bank officers have a claim on
part of it. Otto SHERMAN, who has
been connected with meetings of the
depositors, at which charges have been
made against the manner in which af-
fairs of the bank were conducted, is the
authority that in 1895 the charter UNI
der which the Minnesota Savings bank
was operated had been sold. Mr.. Sill
herman gave the name of a prominent
attorney as his authority for the state
ment, and this gentleman was inter-
viewed as to the truth of the story.
He was not at all talkative about the
matter, but said that a client of his
had secured a hat interest in the char
ter of the bank. Just what amount
had been paid for the half interest, or
whether it was in the nature of a
loan the attorney refused to say. He
intimated however, that at the proper
time the matter would be made public,
and until that time he had nothing to
say regarding the transaction. Will
lam Bickel. the assignee, was out of
the city. engaged, so it said, in affairs
relating to the bank.
Congressman F. c. Stevens, who, I'M
til recently, was president of the Min
nesota Savings bank, and who is one
OF the trustees of the concern, was in
terViewed al his home in Merriam Park
To- s,yl,+ f1a a tT1 &c
fer Of on interest in the banks char
ter. He denied that there was any
truth in the story, and said that the
report was a serious injustice to the
officers of the bank.
such step has never been taken
to my knowledge" he said, and as
am an officer of the bank, 1 should be
aware Of any such transaction. Until
q few weeks ago l was president OF
the bank, but resigned to give all Of
my time to my public duties in Wash
irgtOn. My resignation as a trustee
was also handed in some time ago. and
was accepted, but as my successor
failed to properly qualify by filing
bond with the secretary Of state,
am still an officer of the bank. The
assignment Of all Of the banks char
ter, all or any portion of it, would not
be done except with the knowledge
and consent of the trustees. 1t would
be necessary to go before the supreme
court tc complete such a transaction,
and I am certain nothing of the kind
has ever been done. l am confident
that the rumor is false. Certainly,
never heard anything of it, if there
was any sale or. transfer of the char
ter to any one by Mr.. Bickel or any
one else
William F. Bickel, vice president and
cashier Of the bank, said last night
when seen by a reporter for the
G b e, at the residence Of his father,
William Bickel 231 West Ninth street.
the charter was all right. It had never
been sold. nor any part OF it, and
talked at length on its value It is
valuable, he said, for the reason that
1t allowed the officers Of the bank 20
divide the profits among themselves
instead Of the depositOrs. The charters
under which the present savings banks
operate limits the salaries Of officers
to not more than $4,000, and the sur
plus profits are divided for the benefit
OF the depositOrs. That is the big diff
ferance in charters. Several ST Paul
aDankers, he said, had endeaveored to
purchase the charter of the Minnesota
Savings bank, but without avail. He
himself purchased the charter from
Senator Daniels, of Rochester, Mimi.