The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-17
The Mcdonald Property Carpenters Name

dishonorable purpose that he could con-
ceive. He had already stolen. for his
father nearly $225.OOO. He determined
to steal more. He was informed by his
father that the piece of property on
Market street must be taken out of the
Mcdonald name but retained in the
possession of the Mcdonald family.
While the giant corporation that was
subsequently known as the Mcdonald
Company had been conceived in the dis
honest brains of the bankers it was not
yet legal reality. Frank traded upon
his ability, however, to deceive the pub
lie and the creditors of his banks. Pos
sessing the power of attorney Of his
father he decided the piece of property
on Market street, which has already
been described. from his father, r. H.
Mcdonald, to the Mcdonald Company.
This deed was made on June IA, 1898
at least six days before the Mcdonald
| Company of Norfolk, Virginia, was in
| existence This fact should not be for
gctttff. for it is the evidence that viii
ates the legality of the transfer. Ger
| tain facts in reference to the organiza-
| ton of the Mcdonald Company of Nor
/ folk, Virginia, prove this assertion. The
first meeting of the directors of this
corporation that was called for the pur-
poses of organization was held at Nor
| folk on June 20, 1893, six days after
Frank Mcdonald had decided this valu
able piece of local property to 6 corpo-
ration which did not exist. Even the
| meeting Of directors that was held at
Norfolk on June 20, 1898, did not make
the Mcdonald Company legal corpo-
ration under the laws of the State Of
| Virginia.
It was necessarv before the company
| could be legal that a charter should be
| obtained from the State authorities of
| Virginia. This charter had not been
! obtained, and while Frank Mcdonald
possessed the power of attorney for his
! father, the Mcdonald Company certain
! ly could not have legal representa-
| tive in this city before the corporation
! had an existence
1t is the purpose of The Call to trace
step by step the theft of this Market
street property and to show the credi
! tors of the Mcdonald banks how they
may recover something of what is due
! them.
When Frank ". Mcdonald decided the
Market-street property to the McDon-
aid Com any of Norfolk, Virginia, he
| swore before notary that he did so
in consideration of $4,000. No such
! consideration vas ever received Not
dollar of money passed In the trans
| fe nor was subsequently received by
| the corporation. Frank Mcdonald was
simply delegated to steal wherever an
opportunity offered, and he carried out
his contract, expecting that investiga-
| tors would never discover the vitality
important discrepancy of six days.
For over five years the robbed deposi-
| tors of these banks have been striving
to locate some property of DR.. McDon-
| aid that might be legally levied
| upon and confiscated in part payment
! at least of what is due them. Every
! possible effort was made without avail,
and to-day The Call eives to these de-
positors the important information that
this property on Market street belongs
to Dr. Mcdonald, and belonging to him
is the property of the depositors.
When the banks failed the estimated
value of this property was between $780,,
900 and $4,000 1t is now probably
worth $4,000, no insignificant sum in
the finances of the Pacific Bank. When
Frank Mcdonald, empowered as the
legal representative IN THIS city Oh MS
father, signed the deed on June IA, 1893,
he allowed the transaction to rest for
several days. He waited until the crash
came In the Pacific Bank before he
made public his thieying transaction.
1t was not until June %, 1893, that the
deed transferring the Market street
property from r. H. Mcdonald to the
| Mcdonald Company was acknowledged
before a notary public. This notary
was e. H Tharp. The Mcdonald Com
pany was a reality, although not le-
| gally one under the laws of Virginia.
/ On the following day, June %, 1888,
/ the deed from r. H. Mcdonald to the
Mcdonald Company was recorded in
the office of the Recorder in this city
at the request of the Mcdonald Com
pany. The record shows that at thirty
four minutes past 1 p. m. the deed was
placed on record. Even then the Nc
Donald Company had no legal repre-
| sentative in this city, and the record
was as bogus as the deed of transfer it
self. although Frank " Mcdonald
signed himself as being clothed with
/ full power of attorney for the both par
/ ties to the transaction. There was no