The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-05

mailed in New York and shows TIT
scheming dishonesty not only of th'
McDonalds, but of the men surround
ing them and urging them or to f1nan
cial destruction. New projects, Graz!
in their origin, crooked in their de
velopment and disastrous in their con
clusions We're being floated Treach
cry against Captain Jim Mcdonald
was being planned. More money wa.
ordered from the Pacific Bank un1ustIy
for the private use of the elder Nc.
Donald The letter is exceptionally in.
teresting and is as follows:
N. Y, March is, 1893.
My Dear Brother: l have been wait
ing, hoping, praying for sales to send
you coin, but nothing seems to materi-
alize. If We had only begun a year
earlier here we might now be, doing a.
good business. We think, however
We now have matters in shape to go
ahead, especially with the California
Raisin and Fruit Growers Associa-
ton in stock-bond sales. You will see
the idea IS to provide a guarantee If
asked for, but TO make the guarantee
such that it will seem more attractive
without it. This makes it safe and
attractive for the investor whichever
way it goes, and provides reasonable
compensation and protection to the
bank for its guarantee.
While l was in California Edmin-
ing on these questions and did, 1 think,
good work. You will also notice I have
perfected arrangements for the Alaska
Coal Company's stock in way that
protects US. have sent you the con-
tract for keeping among your papers
and other contracts for the bank. We
nave nave perfected sd the statement and
bonds, and any day we hope to report
the sale OF them. Now that we have
our guarantees in shape shall run
"a r-e-., Il 80,
Boston and see If / cannot establish
some agency that will bring US in
some money.
That fellow Fitch Jr. is only blow
hard, and you want TO look out for
MIN. We have refused to send him
any more money, and now he is turn
ing to you again. Be very careful what
you say to him or promise him. The
form of contract he asks for is alb
surd and impossible. and you only
waste your time considering them.
And you better not encourage him,
dealing first with us and then with
you. 1t viii confuse us ALL Our eX-
perience with him is not satisfactory.
All he is after is TO make a living out
last night for Hot Springs, North
Carolina, to be gone one or two weeks,
OF possibly more. Fathers funds have
run down, and he wishes you would
credit. That letter from Walter, Park
Bank, that was addressed to you, ask
ing about California Raisin and Fruit
Growers Association, bore its good
fruit He came in to-day and bought
one hundred dollars worth of stock.
and we have several others that have
promised to purchase soon.
| hope we can make some kind of an
arrangement with Captain on his
money, for it is d{scouraging to be
trying to get in money and then have
him draw 1t out. We must settle with
the institutions here before we think
of settling among ourselves. Keep try
ing to sell fathers real estate on Sac
ramento street and S13 Sutter street,
and try to sell the remaining bank real
estate. Let Miss Grant look after these
things.
again mention the fact that it would
be desirable for him to sell those
houses and Electric stocks, even at a
loss, and I shall do the same. Tell him
now is the time we need coin to meet
these Eastern obligations. Hoping you
are not giving way under the strain.
as / am, and that success may crown
your efforts, am as ever, your loving
brother FRANK.
The foregoing letter was written nine
weeks before the Pacific and the Peo-
ole's banks crumbled. When the epistle
vas penned. Frank Mcdonald and his
brother Dick were playing their double
parts of fools and knaves. The Cali
ornia Raisin and Fruit Growers Asso-
,iation to which reference was made
vas q. scheme concocted by A. f. Johns
o further his own ends and feather his
,wn nest. The McDonalds were in
'eigled into it, and when the banks
allied the colonists of the John Brown
Colony began to discuss legal proceed
ngs to recover land that they insisted
lad been stolen from them in the or
,anization of the California Raisin and
Fruit Growers Association.
In all the wild ventures Of the NC
0onalds there was nothing more abb
urd or more dishonest than the organ
zation of the Alaska Coal Company
he McDonalds placed w H Eastland
t the head of this concern, permitted
i'm ito overdraw many thousands of
ollars on the bank, and not satisfied
18th that guaranteed thousands of dol
lrs of his coal company's stock that
as not worth a cent. The character
{ this coal company may be very
early understood when 1t is said that
existed only in the brains of those
no had organized it. There was no
1al in Alaska, and the company had
o other reality than that given to it
4 paper.
HE McDONALDS FEAR A CON- |
SPIRACY BY FITCH AND