The record-union., 1898-12-28

L own nII6eQ SndrGS Ol Sloch III t1iS
Union Association. and I became
stockholder February 13, 1896. do not
desire to repudiate the loan, since the
association got the. money.
Isidor Cohen testified that he was
stockholder He never assented to the
loan or knew Of it until after the crash
in the affairs of the association. He
did not know from memory when ne
bought his stock, and he did not care TO
repudiate any contract but to abide by
the law.
Mrs. Annie NJ. Gaszill testified that
she had stock; never heard of the loan
and never assented to any loans.
On cross examination she said she did
not attend the meeting of December,
1896; if the Directors were not author
lied, as she understood, she believed
the borrowing of the money was unlaW-
full and the bank ought to lose it.
H. Weinstock was the next witness.
He said he was a stockholder in the
Union Building and Loan Association.
He never heard Of or assented to the
loan in question.
On cross examination he said ne at
tended no meetings of the stockholders
and did not remember that he ever
gave any proxies did not remember
that he ever saw published report OF
Secretary Alsip in 1899 or 1896. In
1897 he investigated the affairs OF the
association and found that loan had
been obtained from the banks. He did
not desire to repudiate the honest debts
of the company but desired the per-
sons who We're responsible for the loss
to pay it, whether the National Bank
or others. Witness said he did not un-
dertake to locate the responsibility for
the loss.
On redirect examination witness said
he read in the minute book of the as
sociation a resolution authorizing
loan.
Henry Dorman said he was a stock
holder in the association; never heard
of the loan or assented to it.
On cross s-examination witness said he
gave his proxies to Alsip and paid very
little attention to the affairs Of the
association He did not desire to re-
pudiate the loan, but believed that the
bank ought to share the loss.
Mrs Thomas Fox and Mrs. Minnie
Washburne, who were both stockhold
ers, testified to the same state of af-
fairs as those narrated by the other
witnesses. She did not know about the
borrowing of money; never assented to
the loan and never repudiated the
transactions with banks.
Defendant was not allowed to ask
Mrs. Washburne whether she desired
to repudiate the transactions pertain
ing to the loans.
Miss Annie c. Heisen testified that
she was a stockholder, and as such
she never knew of the loans. On cross
examination she said she paid her dues.
She never at any time received any re-
port concerning the association; never
gave anybody proxy and never knew
of the maturing of the sixth series.
Oscar Ross swore that he was
stockholder; he never agreed or as
sented to the loans to pay the sixth
series.
On cross examination witness said
that he never made inquiry concerning
the affairs of the association. He never
inquired concerning the property of
the association.
Webster Laing's testimony was that
he was trustee of Red Cloud Tribe of
Red Men, which society held stock in
the association. AS a trustee he knew
nothing about the loan and never as
sented to it. The tribe never objected
to the loan.
Mrs. A. A. Jordan said that she was
a stockholder; knew nothing about the
loan. On examination witness
said she tried to borrow money on her
stock, but the President Of the associa-
tion swore at her and said she could
not have the loan. Witness thought
it possible that she had signed a proxy,
but was not sure of the fact. She
! never got a report concerning the af-
fairs of the company.
James H. Devine testified that he
knew that the Robert Emmet Society
owned stock in the Union Building and
Loan Association. The society never
agreed to the loan or assented to the
loan. He believed that Steinman knew
of the insolvency of the association.
On cross-examination he did not re-
member what meetings of the associa-
tion he attended, but he was not pres
ent at the meetings of 1896
Mrs. Charles A Hooper swore that
she owned ten shares in the eighth
series; she never agreed to the loans
and never repudiated them: she gave
E1S@AANo ~ AOCO0Ss IL Sic ever TcC6lNSu
reports concerning the affairs Of the
association she paid no attention to
them.
Mrs. H. Barber's testimony was that
she paid assessments and gave her
proxies. In nearly every particular her
evidence was a transcript of Mrs
Hooper. She paid very little attention
to reports Of the affairs of the associa-
tion
c. Ditmar swore that he owned stock
in the association. He knew nothing
about the loans; never consented to
loans, but he gave his proxy to Mr.
Alsip; he got reports when he called
for them only.
Grove L. Johnson asked that he be
allowed to have a copy of a letter sent
to the association by Devlin & Devlin
regarding the rights of directors, also
| the letter of the association to which
| the Devlin letter was a reply. The
court ruled that the evidence could be
| introduced to show the affairs of the
association with reference to losses in
detail, wtereupon Devlin & Devlin said
that they would try to produce the let
ters, if they could be found.
| No other witnesses were present and
counsel tried to stipulate that other
witnesses would testify to the same
| effect as the evidence of preceding wit
nesses, and finally it was agreed that
| the other witnesses would swear that
| they saw notices, gave their proxies to
Alsip and did not afflrmatively repu-
| diate the action of the directors; that
they allowed Alsip to act for them at
the meetings of 1895 and 1896. 1t was