The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1897-02-16
NO BANK STOCK SOLD
DepOsitOrS Of the Deiunct Northwest
srn National Hold a Meeting.
CASHIER HATCHER SPEAKS
He Offers Several Suggestions.
but Doesn't Go Into Letalls
as Far as the Lrowd Would
Like for Him to.
CASHIER HATCHER SPEAKS
Special Dispatch to the Standard.

special Dispatch to the Standard.
Great Falls, Feb. l5.-Several hun
dred depositors of the suspended North
western National bank met tonight in
Judge Burleighs office subject to the
call of somebody. and $. b. Robbins
was elected chairman and George Ra-
ban secretary. Cashier Hatcher of the
bank was sent for, and for a time a
sensation which did not materialize was
looked for anxiously by the crowd
Cashier Hatcher. being called up
on, spoke guardedly OF the situation
and did not go into the details that
were evidently asked by many. He
said:
Il suppose you wish to know the re-
sources of the bank, but must say TO
you first that the bank is now in the
hands of the comptroller and Il would
not be right or proper for me To go into
details before statement is made by
his authority. So far as | can | will
answer you without usurping any Of
his rights. | having been in the bank
for years, do not doubt but that II will
pay its depositors In full. A great deal
Will depend upon the receiver who Is
placed In charge. The bank has three
classes to whom loans have principally
been made-business men. sheepmen
and cattlemen. The largest single bor-
rowers are sheepmen who will he un-
able to pay until the July wool sales.
| have talked with bankers i'm this city
and they are willing to take up a large
number OF these loans which would
add largely to the banks cash. As 10
reorganization, you must understand
that the comptroller is first for the de-
positors and the stockholders. and he
would have TO be thoroughly satisfied
before any reorganization could occur.
You will have to see him, and no one
else, and he Is the one who will take
any steps, not you. Until he speaks
you can do nothing. The bank trans
acted a large business and II is a pity
il went down. but its resources will
now largely depend upon the receiver
appointed. My idea would be to an
point a committee of different elements
of deDositors and have them find out
the feeling of the banks customers,
and after the comptroller's statement Is
out and conference with him is held,
report at a meeting at some future
time. You must remember that large
number Is interested.
About 1000 people had deposits sub
ject to check and there are about 1000
certificates of deposits. TO make a sue
cess the depositors must he almost
unanimous. which. you see. Is large
undertaking. The bank has now about
100000 cash. about $4,000 having been
collected since the suspension. and
there is about 100000 in paper which
might be realized on in 30 days, as 9TH
er banks would take more of 1t up. So
the bank would have 100000 TO start
on. Could you reorganize on the GER
tifcate plan. | believe it would be
good thing.
81 am not here to give you advice.
my connection with the bank being
such that l don't feel like standing as
an adviser. | would strongly urge you
to work with Examiner LaZear, who /
know tn be competent and able To dis
entangle these matters, and he Is the
man to whom you should talk. Myself.
my wife and her father have money in
the bank as well as other relatives.
probably ten or twelve thousand dol
lars. | assure them they will not lose
a cent"
should not some one be found to
father about slS0.000 Of the banks
stock?" asked some one.
"As to that" continued Mr.. Hatcher,
II don't know. ] am not lawyer. So
far as the stock Is concerned that is a
delicate matter for me TO speak on at
present. | can only state that i acted
in good faith in purchasing IL. or the
stock AGO shares are held by the bank,
1.040 shares by outside parties; all the
stockholders are wealthy men and
should 1t come to that they will he call
ed upon to put un an assessment of a
dollar for every dollar they hold"
why" asked eX-Alderman Young.
should we be called upon now to take
the bank stock when il is practically
worthless and render ourselves liable
beside. IT the matter could not have
been adjusted before by the stockhold-
ers of the hank. am in favor of letting
them shoulder the liability and maxi
ing them come forward and pay every
dollar due the depositors."
Mr. Young's speech was greeted with
loud applause and the majority of those
present evidently were not seeking in
vestment in bank stock. After vainly
erdeavoring to find out who wrote the
notice calling a meeting, a committee
Of five was appointed by the chair and
the audience combined 70 see what
could he done. The committee finally
selected were George Rahan, chairman;
Ed Young. Joe Jellicard, Charles Veg
ner ard Frank Scotten. The meeting
adjourned subject to the call OF the
COMMITTEES.