The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-21
CHANGE OR NO CHANGEs
Minnesota Savings Bank Assignee
ship Not Entirely satisfactory.


There seems to be a slight disagree
ment of opinion between the depositorS
of the suspended Minnesota Savings
bank and William F. Bickel the presi-
dent Of the institution as to the ad-
visibility of making a change in the
person of the assignee. Mr.. Bickel,
who succeeded Congressman ELECT
Fred c. Stevens as president of the
bank, about three days Before the
father, Willim Biclzel, to whom the
bank assigned, is just the person for
the place. William F. BickeI argues
that his father, being conversant with
every phase of the banking business
and having wide acquaintance with
the depOsitcrs. should not be Custed,
but allowed to wind up the affairs of
the institution. He urges as another
reason why his father should be re
tanned that the appointment Of re-
CeiVer for the bank would fritter AWAY
the assets needlesSly, while under the
direction OF his father the admin
stration of the assigneeship would cost
little or nothing.
The reason advanced by the pres
ident of the suspended institution for
retaining the present assignee do not
meet with the expressed views of
a large number Of the depositors That
the assignee is cOnversant with every
phase Of the banking business Is ad-
mitted by the depositors, but this made
the strongest point why a new man
should be selected. They appreciate,
or say they do the interest taken by
the president of the bank in not hav-
ing the money of the depositors frittered
away III high priced receivers They
fail, however, tN see why a new as
signee would have to be paid any more
money for the discharge Of the duties
than the one incharge of the affairs
of the bank.
J. NJ. Hawthorne, who has been re-
tanned by a number Of the depositors
to look after their interests stated
that he had no animus in the matter
but was governed solely by the inter
ests Of his clients. He had nothing to
urge against the honesty Of William
Bfckel, and believed him fair and
square. His appointment as assignee
his son being one of the officers of the
bank, was in his opinion certainly in
judicious. 1t had been Mr. BickePs
misfortune to have been connected
with several banks that had suspended
and this fact had its effect on the pub
lie, and especially the depositors Of the
Minnesota Savings bank. The affairs
of the suspended institution, he bad
been informed, were in bad shape
financially and it would REQUIRE tho
the depositors would secure their
money. For these reasons the de-
positors, at least those he had con-
suited, were in favor Of a change in
the person OF the assignee. The an
pointment of Gen. Moses E. Clapp as
assignee, he thought would be salts
factory to all concerned Mr. Clam
he said, had called on him and stated
that the books Of the bank were omen
any time for his inspection This Mr.
Hawthorne said was an extremely fair
proposition. The meeting of the de-
positors to be held in his office this
evening, he thought, would develop q
line of proceedings looking toward an
application to the court for the ap-
-l1oiTltment, of another assignee
: IIkssaddition to the meeting of deposit
; tbrsTs called for. this evening at Mr..
FaEMhorne's Office. notice Of another
ne9ang fo be. held at the office Of M,
j Isz@$s III the Washburn building.
at 3aocf5cc talfs AFTERNOON is also an
fouaEn MIS- Costello said yesterday