The record-union., 1898-02-08
BUILDING AND LOAN MATTERS
LETTERS FROM STOCKHOLDERS
GROVE L. JOHNSON.
Demands on Directors Of the Union
AsSociation-Actio by the
Attorney General.

Some days ago Grove L. Johnson ad-
dressed a communication to the Ddrec-
tors Of the Union Building and Loan
Association requesting them-as one OF
the Stockholders-to take the necessary
action to recover any securities OF the
association that may have been, as al
legged, Incorporated.
To this request, or demand, the Dl-
rectors replied by asking Mr.. Johnson
to be more specific and to explain just
what it was he desired to have them
do
Mr. Johnson has, in response to that
Communication, addressed the following
letter to the Secretary Of the associa-
ton:
r. H. HawIey, Esq, Secretary Union
B. and L. Assn, Systematically Dear
Sir: Your letter dated January 81,
1898, purporting to come from the
Board of Directors of the Union Build
ing and Loan Association in answer to
my request TO them to commence GER
tain lawsuits for and on Behalf of said
association and its stockholders, was
duly received. It's answer has been
delayed by business engagements.
The books of said association in the
custody of said Directors show when
and how and by whom the money Of
said association has been wasted and
misappropriated They furnish all the
information needed by said Directors
to enable them to institute and success
fully prosecute legal proceedings to re-
cover for the said association and its
stockholders the money illegally divert
ed from them.
The law charges the said Directors
with full knowledge of the said books.
In addition, from the knowledge
gained by you as Secretary and as
member of the Stockholders Investigat-
ing Committee, you can, and no doubt
viii, at their request, supply any de-
tails that may be lacking. Very truly
yours. GROVE L. JOHNSON"
Mr.. Johnson has also made a demand
on Secretary Hawley for certain infor-
nation which he claims the books ought
to afford. He writes:
"R. H. Hawley, Esq, Secretary Union
Building and Loan Association, Sacra-
mento-My Dear Sir: Please give me
Immediately, if possible, list of the
securities and property, if any, pledged
by the said association to the Farm
ers' and Mechanics Savings Bank as
security III lliI pay iiiNAe VI 10 HAASS -
loan to the Union Building and Loan
Association, which loan the report of
the Investigating Committee, of which
you We're Secretary, names in amount
at S19,015 80 and date as February 20,
1896
Also give me list of the securi-
ties, if any, pledged by said associa-
ton to the National Bank of D. o. Mills
NV nj
to said association. Also inform me
if any securities have been pledged by
said association to B. L. Steinman for
an alleged loan by him to said associa-
tion.
show these matters. If they do not,
please let me know. Very truly yours,
GROVE L. JOHNSON"
Following is a copy of communica-
ton addressed by Mr.. Johnson to Pres
ident Steinman of the association:
"R. u. Steinman, Esq, President
Union Building and Loan Association,
Systematically Dear Sir: Please
take notice that l am a stakeholder in
said, Union Building and Loan Asso-
citation, and that as such stakeholder
hereby request you as President and Di-
rector, ana through you, tne bodru VI
Directors Of said association, to defend
the action brought by Mrs. Bories
against said association, and to
defend any and all other actions
now pending or hereafter that may be
brought against said association by her
or any other person or persons or firm
or corporation claiming to be a cred
itor of said associa ton, and not to per-
NIT any default or defaults to be had
or taken against said association in any
action now pending or that may here
after be brought against said associa-
ton. Very truly yours,
GROVE L. JOHNSON"