The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-01
OTHER SIDE OF IT.
How. the Committee Looks at the
Thing.

About twenty-five gentlemen, all Of
whom were interested in the affairs Of
the bank but who did not succeed in
breaking into the meeting, held short
session on the stairway leading to the
hall. The opinion of the spokesman
of the party was that there should be
no change in the assignee until there
was some reason shown for such action"
George ]. Mitsch, L. D. Barnard, J.
M. Pottgieser and others who refused
to sign the paper for the removal Of
the assignee said the action of the
meeting would be Of more harm to,
the depositors than good, and VEN
tured the opinion that it was scheme
gotten up by some lawyers.
George c. Lambert, chairman Of the
depositors of the bank, when seen last
night, disclaimed any responsibility
for yesterdays meeting. Said Mr..
Lambert:
Many depOSitors are under the i'm
preston that the call had been regu-
larly issued by me for the purpose of
receiving the report Of the committee.
Such is not the case. The regular COM
mittee is actively prosecuting it's
labors, which are necessarily a little
eXacting, and in few days, when the
investigation is completed, a general
meeting Of all the depositors will be
convened, irrespective of opinion, to
take such action as will be conducive
to the best interests Of the creditors.
1t is to be regretted that the gen
tlemen who are said to be in possession
Of facts and informa tion concerning the
affairs Of the bank have seen fit to
withhold the same from the committee,
for the purpose of making capital
against it. During the progress Of its
investigation, the committee will neces-
sar1ly become possessed of the facts so
loudly advertised, and will thoroughly
s1ft them. If, upon their final report,
their conclusions should be at variance
with some of the alleged discoveries,
the matter will be open to full dis
cuss1on, and all the depositors, not &
select few, will have the benefit of the
information.
was Informed last night, upon my
return from the trial of a case out Of
town, that strong pressure had been
brought to bear upon the present as
s1gnee to resign in favor of some gen.
tleman who had not the remotest in
terest In the distribution of the assets,
and that some depositors, including
one or two members of the committee
were appr1sed of the fact in time to
spoil the little game. 1t was repre-
sented to Mr.. Bickel that he owed
duty to the depositors, who should be
consulted in the selection of his sue
ceSsor. The will of the majority will
be regularly known at the general
meeting of the depositors upon the re-
port of the committee
The prompt action of these deposi-
tors, in blocking this intended move.
has resulted in saving to the creditors
the. right to have a voice in the man
agement Of their own affairs
/ am at loss to understand the criti-
ciSm Of Mr.. SHERMAN on the personnel
Of the committee. One of it's members
represents a larger interest in the
bank than all the names on Mr. Sill
berman's list combined, barring Mr..
Auerbach, the receiver of the Ale
MAMMA. Two Of the names were given
me by Mr.. SHERMAN himself, and Mr..
SHERMAN took the trouble to inform
me that his own business would not
permit him to serve as a member.
While the committee has nothing to
do with the retention or removal of
the present assignee, it is only fair to
all concerned to suspend judgment un-
til after the light has been turned on.
Any blind agitation, pending the re-
port, can only injure the interests Of
the depositors and depreciate the value
of the banks charter, which is an I'M
portant asset in the hands of the as
SiCnen1