The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1899-08-26
DULL, sICKENING THUDs.
Downfall of the Calumniators of the
Lind Administration.
Reform Press Bureau,

NclOllll lCSS DLlSduJ
St. Paul, Aug. FL, 1899.
Never in the annals of political abuse
of capable and honest public officials,
was there more humiliating outcome
for the villifers, than in the case OF the
defunct Savings Bank OF St. Paul and
the vndication of Governor Lind and
Examiner Pope for their course in that
case The particulars have now been so
widely published by the daily press that
mere summary will suffice. From the
moment that the officials acted, they
were beset and followed with the vilest
abuse by the Twin City Republican
press. They united in declaring that the
governor and examiner had acted for
mere political purposes and wrecked a
solvent bank that they might make a
record" Some OF the so-called "inde-
pendent" press joined the partisan cabal
as usual, with insinuation and innuendo
to it's hearts content. All Of these Wilt
hers have been as silent as the grave as
to correcting the false impressions. But
that matters little, for the real character
OF all the press thus grouped, is very
well understood by the people.
The fall, dull, sickering thud, came
in the Ramsey county court in public
hearing OF reports of the committees ap-
pointed by the court These found, in
substance, that General Pope's original
schedule OF the condition OF the bank
was more favorable to the officials Of
the bank, in every solitary instance,
than the committee itself found. Here
are the figures:
Assets:
AS claimed by the bank. 81, 164, 45o. 50
AS found by Examiner Pope S75,o4o. Ia
AS reported by committee. S53,oS5 .6S
Take the real estate:
As valued by the bank. -. 3o3,43S.oo
AS valued by Examiner Pope 275,o74.47
as valued by the committee 274ooo.oo
Take the mortgages:
AS valued by the banI.... 3I445o.87
AS valued by Examiner Pope 2S2,733.4o
AS valued by committee. 2o7,671.32
Take the other assets:
As valued by the bank. -. 45o,661.61
AS valued by Examiner Pope 317,SI2,27
AS valued by committee. 312,224. So
The total liabilities being $1,17o,71o.46,
it will be seen that while, as Examiner
Pope reported the assets, the bank was
in the hole" $3o4o7o.23, by the dcposi-
tors own committee the impairment
was $325,734.78 In other words that
the committee found the bank SCI, o54.46
worse off than the examiner had found
it.
General Pope, in the opportunity CIV
en- him to come before the dcpositors'
meeting, showed that while the bank
was hopelessly insolvent its stoclhold
ers had paid in but $3o,7so Of its sup
posed 100000 of capital stock, but the
bank had paid out to stockholders as
dividends, $4,000. Also that while the
present board Of trustees were not le-
gally qualified trustees, yet the supposed
trustees" had loaned over $4,000 OF
the banks money to trustees, officers
and employees, the security for which
was so poor that the $4,000 had to be
scaled down to $4,000.
The committee itself reported large
list Of loans, in which the security is but
part value of the amount OF the mort
gage. In fact, the whole is as bad a
mess as can be imagined, and from so to
IS per cent is the most that the poor
depositors can expect to receive from
this Sound" institution, ruthlessly
wrecked" by Governor Lind and En-
aminer Pope.
Such is the result of another fearless
discharge of duty to the people-a re-
suit confidently predicted weeks ago.
What contrast between the Republi-
can administration, which permitted the