The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-19
ST. PAUL SAVINGS BANK.
DepOsitOrs VIII Ask Judge Brill to
Defer Final Action

Eight depositors of the Savings Bank
or st. Paul called a meeting last night of
those interested in the banks condition.
in the municipal court room at the city
hall. ]. I. Duffy presided, and though
more than an hour was spent in desuI-
tory discussion, nothing of Importance
was done beyond carrying a motion ask
ing the court to defer final action until
the committees report. No one seemed
to know why the meeting was called, and
the general sentiment was that 1t was
unnecessary.
AT the meeting Of the depositors of the
bank held on the evening of July IL, at
Labor hall, a committee was appointed
to investigate the banks real estate
holdings, and make inquiry into it's con-
d1t1on. Instructions were given the COM
mittee to present their report at a meet
ing OF the directors. to be held on the
evening of July 20, at the capitol. The
bank Is at present in the hands of the
court. and the court has also appointed
a committee to investigate it's affairs.
The meeting in the municipal court room
was attended by about 250 people. No one
knew for what object it had been called,
and a general discussion of the banks
condition had dragged through half an
hour when a depositor in the back Of the
room shouted:
What is this meeting for; anyway?
The chair explained though little new
information was given. At this juncture
motion was made by c. w. Griggs that
the depositorS request Hon. Judge Brill
to defer final action until after the
courts committee and the committee ap-
pointed by the depositors submit their
reports. This created an uproar. The
motion was not clearly understood, and a
dozen depositors clamored for recogni-
ton from the chair at once. c. H. Hills
secured recognition for moment. and
protested against such action. Before he
had taken his seat a motion to adjourn
was made in order to check action on the
motion Of Mr.. Griggs. NJ. r. Prender-
CAST then secured recognition and quietly
explained the purpose of the motion.
1--WE should not adjourn said he, "un-
til some action on this matter Is taken.
1t is necessary in order to understand
the banks affairs that we wait for the
committees reports. This division of
sentiment is deplorable inasmuch as it
will give the impression that the depos-
itors are not united. The motion of Mr..
Grtggs should pass, and 1 suggest that
we amend it to the effect that the depos-
itors request the committee appointed at
a previous meeting, to whom we have
left the task of investigating the banks
affairs, to present to the court our de-
cision in this matter.
Il notice that statements have been
published to the effect that the bank has
used depositors' money to pay dividends.
This has created a. wrong impression. and
1 desire to correct it. No dividends have
been paid out of deposits"
Mr.. Griggs took the floor and explained
fully the purpose of his motion. and
urged its passage. 1t was corrected as
follows:
THAT we, as the depositors of the Saw
ings Bank of st. Paul, request our COM
mittee to express to Hon. Judge Brill our
desire that final action of the court be
deferred. to give opportunity for a meet
ing of the depositors after the report Of
the committee and the committee ap-
pointed by the court, that we may take
intelligent action"
The motion was then passed, with few
dissenting votes. An adjournment was
taken, with the understanding that fur
Their action be deferred until the meeting
at the capitol.